CA Final Syllabus 2020
CA Final Syllabus 2020- The Institute of Chartered Accountants of India (ICAI) releases CA Final syllabus pdf as relevant for candidates appearing in the exam session and also keep updating on the CA Final syllabus changes. The official website contains CA Final syllabus May 2020 for both old and new syllabi. Candidates registered under the old scheme can refer the CA Final old syllabus for both the groups. ICAI had introduced elective papers through new syllabus which can be found in CA Final new syllabus. The ICAI CA Final syllabus 2020 contains all the topics and sub-topics that need to be covered by candidates preparing for the upcoming session of exams, be it the CA Final old syllabus or the new one. Thus, one may refer to the syllabus for CA Final as released by ICAI and cumulated hereby in the article below for all papers.
Latest- CA Final Admit card 2020 released for January session. ICAI has released the CA Final Exam Dates 2020 for cycle II of November session.

CA Final New Syllabus 2020
Candidates enrolled under the CA Final 2020 new scheme may refer to the CA Final syllabus May 2020 for both the groups and all 8 papers including the elective paper as provided below.
CA Final New Syllabus Group 1-
Paper 1- Financial Accounting
Framework for Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards (Ind AS).
Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements:
Ind AS on the First-time adoption of Indian Accounting Standards
Ind AS on Presentation of Items in the Financial Statements
Ind AS on Measurement based on Accounting Policies
Ind AS on Income Statement
Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS
Ind AS on Items impacting the Financial Statements
Ind AS on Disclosures in the Financial Statements
Other Ind AS
Indian Accounting Standards on Group Accounting
Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS)
Consolidated and Separate Financial Statements (as per Ind AS)
Accounting and Reporting of Financial Instruments (as per Ind AS)
Analysis of Financial Statements
Integrated Reporting
Corporate Social Responsibility Reporting
Paper 2- Strategic Financial Management
Financial Policy and Corporate Strategy
Strategic decision-making framework
The interface of Financial Policy and strategic management
Balancing financial goals vis-à-vis sustainable growth.
Risk Management
Identification of types of Risk faced by an organisation
Evaluation of Financial Risks
Value at Risk (VAR)
Evaluation of an appropriate method for the identification and management of financial risk.
Security Analysis
Fundamental Analysis
Technical Analysis
Meaning
Assumptions
Theories and Principles
Charting Techniques
Efficient Market Hypothesis (EMH) Analysis
Security Valuation
Theory of Valuation
Return Concepts
Equity Risk Premium
Required Return on Equity
Discount Rate Selection in Relation to Cash Flows
Approaches to Valuation of Equity Shares
Valuation of Preference Shares
Valuation of Debentures/ Bonds
Portfolio Management
Portfolio Analysis
Portfolio Selection
Capital Market Theory
Portfolio Revision
Portfolio Evaluation
Asset Allocation
Fixed Income Portfolio
Risk Analysis of Investment in Distressed Securities
Alternative Investment Strategies in context of Portfolio Management
Securitization
Introduction
Concept and Definition
Benefits of Securitization
Participants in Securitization
Mechanism of Securitization
Problems in Securitization
Securitization Instruments
Pricing of Securitization Instruments
Securitization in India
Mutual Fund
Meaning
Evolution
Types
Advantages and Disadvantages of Mutual Funds
Derivatives Analysis and Valuation
Forward/ Future Contract
Options
Swaps
Commodity Derivatives
Foreign Exchange Exposure and Risk Management
Exchange rate determination
Foreign currency market
Management of transaction, translation and economic exposures
Hedging currency risk
Foreign exchange derivatives – Forward, futures, options and swaps
International Financial Management
International Capital Budgeting
International Working Capital Management
Multinational Cash Management
Objectives of Effective Cash Management
Optimization of Cash Flows/ Needs
Investment of Surplus Cash
Multinational Receivable Management
Multinational Inventory Management
Interest Rate Risk Management
Interest Rate Risk
Hedging Interest Rate Risk
Traditional Methods
Modern Methods including Interest Rate Derivatives
Corporate Valuation
Conceptual Framework of Valuation
Approaches/ Methods of Valuation
Assets Based Valuation Model
Earning Based Models
Cash Flow Based Models
Measuring Cost of Equity
Capital Asset Pricing Model (CAPM)
Arbitrage Pricing Theory
Estimating Beta of an unlisted company
Relative Valuation
Steps involved in Relative Valuation
Equity Valuation Multiples
Enterprise Valuation Multiple
Other Approaches to Value Measurement
Economic Value Added (EVA)
Market Value Added (MVA)
Shareholder Value Analysis (SVA)
Arriving at Fair Value
Mergers, Acquisitions and Corporate Restructuring
Conceptual Framework
Rationale
Forms
Mergers and Acquisitions
Financial Framework
Takeover Defensive Tactics
Reverse Merger
Divestitures
Partial Sell off
Demerger
Equity Carve outs
Ownership Restructuring
Going Private
Management/ Leveraged Buyouts
Cross Border Mergers
Startup Finance
Introduction including Pitch Presentation
Sources of Funding
Start up India Initiative
Paper 3- Advanced Auditing and Professional Ethics
Auditing Standards, Statements and Guidance Notes
Engagement & Quality Control Standards,
Statements and Guidance Notes on Auditing issued by the ICAI,
Elements of system of quality control,
Leadership responsibilities for quality within the firm,
Acceptance and Continuance of clients relationships and specific engagements,
Engagement Performances, etc.
Audit Planning, Strategy and Execution
Planning the flow of audit work;
audit strategy, audit plan, audit programme and importance of supervision;
principal’s ultimate responsibility;
extent of delegation;
control over quality of audit work;
Analytical Procedures prior to audit as well as towards finalization;
Concept of Principal Auditor and Other Auditor, Acceptance as Principal Auditor, Procedures to be performed by Principal Auditor, Co-ordination between the Principal Auditor and Other Auditor (SA 600 Using the Work of Another Auditor)
Concept of Internal Audit Functions and its evaluation, Using the work of the internal audit function, Using internal auditors to provide direct assistance (SA 610 Using the Work of Internal Auditors);
Auditor's Expert – Meaning, Need for an Auditor’s Expert, Understanding the Auditor’s Expert, Agreement with the Auditor’s Expert, Adequacy of the Auditor’s Expert’s Work (SA 620 Using the Work of an Auditor’s Expert)
Risk Assessment and Internal Control
Evaluation of internal control procedures;
Components of internal controls;
Internal control and risk assessment;
Risk -based auditaudit risk analysis, general steps;
Internal audit;
Reporting on internal control weaknesses (SA 265 Communicating Deficiencies in Internal Control to Those Charged With Governance and Management);
Framework on Reporting of Internal Controls
Special aspects of Auditing in an Automated Environment
Key features of an automated environment
related risks and controls,
Standards
Guidelines and procedures,
using relevant frameworks and best practices,
understanding and documenting automated environment,
Enterprise Risk management overview,
Assessing IT-related risks and controls,
evaluating risks and controls at the entity level and process level,
Considerations of an automated environment at each phase of the audit cycle,
using relevant analytical procedures and tests using data analytics,
key concepts of auditing in real-time automated environments such as E-Commerce, ERP, Core Banking, etc
Audit of Limited Companies
Application of Relevant Provisions under the Companies Act, 2013 relating to Audit and Auditors and Rules made thereunder;
Powers/rights, duties of auditors;
Branch Audit;
Significance of true and fair view;
Dividends and divisible profits- financial, legal, and policy considerations;
Depreciation
Special features of audit of Limited Liability Partnerships (LLPs)
Eligibility for audit,
appointment of auditor, remuneration, etc.
Audit report under the Companies Act, 2013;
Reporting under CARO
Audit Reports
Basic elements of auditor’s report;
Types of opinion;
Notes on accounts;
The distinction between notes and qualifications;
The distinction between audit reports and certificates;
Communication to Management and those charged with Governance;
Self Review threats;
Drafting of different types of Audit Reports
Audit Committee and Corporate Governance
Audit committee;
Role of the auditor in the Audit Committee and Certification of Compliance of Corporate Governance;
Compliances with Laws and Regulations (SA 250 Consideration of Laws and Regulations in an Audit of Financial Statements);
Disclosure requirements including those of SEBI;
Regulatory requirements of Corporate Governance
Report on Corporate Governance
Audit of Consolidated Financial Statements
Provisions under the Companies Act, 2013 in respect of Accounts of Companies and Rules made thereunder;
Audit of Consolidated Financial Statements
responsibility of parent company,
auditor of the consolidated financial statements
Audit Considerations
permanent consolidation
current period consolidation
Reporting
Special features of audit of Banks, Insurance & Non Banking Financial Companies
Audit under Fiscal Laws
Audit under Fiscal Laws, viz, Direct and Indirect Tax Laws including documentation for Form 3CD etc.
Audit of Public Sector Undertakings
Special features
Directions of Comptroller and Auditor General of India
Concept of propriety audit
Performance audit
Comprehensive audit
Liabilities of Auditors
Professional negligence
Civil liabilities
Criminal liabilities
Liabilities under different statutes - for example Income Tax Act, Companies Act
Internal Audit, Management and Operational Audit
Provisions of internal audit as per Companies Act, 2013
Scope of internal auditing
Relationship between internal and external auditor
Basics of Internal Audit Standards issued by the ICAI
Drafting of Internal Audit Report
Management audit and Operational audit
Due Diligence, Investigation and Forensic Audit
Due Diligence Review
Audit versus Investigation
Steps for investigation
Types of investigation
procedure, powers, etc. of investigator;
Types of Fraud
indicators of fraud
follow-up thereof
Forensic audit meaning
Difference between statutory audit and forensic audit
forensic audit techniques
forensic audit report etc.
Peer Review and Quality Review
Professional Ethics
Code of Ethics with special reference to the relevant provisions of the Chartered Accountants Act, 1949 and the Regulations thereunder
Paper 4- Corporate and Economic Laws
Part 1- Corporate Laws
Section A- Company Law
The Companies Act, 2013
Rules framed thereunder in its entirety with specific reference to section 149 onwards:
Appointment and Qualifications of Directors
Appointment and remuneration of Managerial Personnel
Meetings of Board and its powers
Inspection, inquiry and Investigation
Compromises, Arrangements and Amalgamations
Prevention of Oppression and Mismanagement
Winding Up
Producer Companies
Companies incorporated outside India
Miscellaneous Provisions
Compounding of offences, Adjudication, Special Courts
National Company Law Tribunal and Appellate Tribunal
Corporate Secretarial Practice
Drafting of Notices
Resolutions
Minutes and Reports
Section B- Securities Laws
The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957
Introduction and important provisions
The Securities Exchange Board of India Act, 1992
SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009
SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015
Part 2- Economic Laws
The Foreign Exchange Management Act, 1999
Introduction
broad structure of FEMA
Definition
Regulation and Management of Foreign Exchange
Contraventions and Penalties in brief,
Miscellaneous provisions
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
Important Definitions
Regulation of Securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions
Enforcement of Security Interest
Offences and Penalties
Miscellaneous Matters
The Prevention of Money Laundering Act, 2002
Definitions
Punishment for the Offence of Money laundering
Obligation of Banking Companies
Financial Institutions and Intermediaries or a person carrying on a designated business or profession
Appellate Tribunal
Special Court
Procedure for Attachment and Confiscation of Property and Recovery of fines and penalties
Foreign Contribution Regulation Act, 2010
Definitions
Regulation of Foreign contribution and miscellaneous provisions
The Arbitration and Conciliation Act, 1996
General Provisions
Arbitration agreement
Tribunal
Conciliation
The Insolvency and Bankruptcy Code, 2016
Preliminary
Corporate insolvency resolution process
Liquidation process and other provisions
CA Final New Syllabus Group 2-
Paper 5- Strategic Cost Management and Performance Evaluation
Part A- Strategic Cost Management and Decision Making
Sub Part 1- Strategic Cost management
Introduction to Strategic Cost Management
Concept of Strategic Cost Management
Limitations of Traditional Cost Management
Traditional vs. Strategic Cost Management
Modern Business Environment
Introduction/ Characteristics of the Modern Business Environment
Cost of Quality, Total Quality Management, Business Excellence Model
Throughput Accounting and Theory of Constraints
Supply Chain Management (SCM)
Gain Sharing Arrangements
Outsourcing
Lean System and Innovation
Introduction to Lean System
Just-in-Time (JIT)
Kaizen Costing
5 Ss
Total Productive Maintenance (TPM)
Cellular Manufacturing/ One-Piece Flow Production Systems
Six Sigma (SS)
Introduction to Process Innovation and Business Process Re-engineering (BPR)
Cost Management Techniques
Cost Control/ Waste Control, Cost Reduction
Target Costing
Value Analysis/ Value Engineering
Pareto Analysis
Life Cycle Costing
Environmental Management Accounting
Cost Management for Specific Sectors
Agricultural Sector
Information Technology Sector
Power Sector
Sub Part 2- Strategic Decision Making
Decision Making
Decision Making using CVP Analysis
Decision Making using Relevant Cost Concepts
Decision Making using Activity Based Costing
Ethical and Non-Financial Considerations Relevant to Decision Making
Pricing Strategies/ Decisions
Theory & Principles of Product Pricing
Pricing – New Product, Finished Products & Pricing of Services
Sensitivity Analysis in Pricing Decisions
Pricing Decision under Special Circumstances
Pricing Strategies
Part 2- Performance Evaluation and Control
Sub Part 1- Performance Evaluation and Reporting
Performance Measurement and Evaluation
Responsibility Accounting
Linking Critical Success Factors (CSFs) to Key Performance Indicators (KPIs) and Corporate Strategy; Performance Measurement Models‒The Balanced Scorecard, The Performance Pyramid, The Performance Prism and The Building Block Model; Divisional Performance Measures; Benchmarking Schemes
Performance Measurement in the Not-for-Profit Sector
Preparation of Performance Reports
Divisional Transfer Pricing
Meaning, Purpose and Principles of Transfer Pricing
Methods of Transfer Pricing
The Behavioural Consequences arising from Divisional Structures
International Transfer Pricing
Strategic Analysis of Operating Income
Operating Profit Analysis
Advanced Activity Based Costing, Activity Based Management (ABM), Activity Based Budgeting (ABB)
Sub Part 2- Managerial Control
Budgetary Control
The Concept of Feedback and Feed Forward Control
Behavioural Aspects of Budgeting – Imposed Style, Participative Budget
Behavioural Aspects of Budgetary Control
Beyond Budgeting
Standard Costing
Analysis of Advanced Variances
Integration of Standard Costing with Marginal Cost Accounting
Reconciliation of Profit
Variance Investigation Techniques, Interpretation of Variances, Possible Interdependence Between Variances and Reporting
Behavioural Aspects of Standard Costing, Limitation of Standard Costing (including its use in the contemporary business environment)
Part C- Case Study
Paper 6A- Risk Management
Introduction to risk
The Concept of Risk
Risk and Uncertainty: Distinction
Classification of Risks
Dynamic Nature of Risks
Types of Risk, including:
Strategic and Operational Risks
Business Risk
Financial Risk
Information Risk
Liquidity Risk
Source and evaluation of risks
Identification and Sources of Risk
Quantification of Risk and various methodologies
Impact of Business Risk
Identify and assess the impact upon the stakeholder involved in Business Risk
Role of Risk Manager and Risk Committee in identifying Risk
Risk management
Concept of Risk Management
Objective and Process of Risk Management
Importance of Risk Management
Risk Management techniques
Evaluation of Risk Management Strategies
Risk Management Strategy alignment with Business Strategy
Internal Control environment and linkages with Risk Management
Risk Culture and attitudes to risk management
Integrated Risk Reporting and Stakeholder responsibilities
IT Risk Management – Disaster Recovery
Risk model
VAR
Stress Testing
Scenario Analysis
Country and Sovereign Risk Models and Management
Credit risk measurement and management
Understanding the component of credit risk
Evaluating credit risk
Mitigating Credit risk
Qualitative and Quantitative techniques to manage risk
Credit scoring models
Risk associated with corporate governance
Evaluation of Risk Associated with Governance
Description and evaluation of framework for Board level consideration of risk
OECD Guidelines for Corporate Governance
Enterprise Risk Management
Definition, Scope and Techniques
Operational Risk Management
Definition, Scope and Techniques
Paper 6 B- Financial Services and Capital Markets
Global Financial Markets
Introduction to Global Financial Market
Role of Financial Market in Economic Development of a country
Stakeholders in Financial Market (Domestic and Global)
Indian Financial Market scenario
Impact of various Policies of Financial Markets
Credit Policy of RBI
Fed Policy
Inflation Index, CPI, WPI, etc.
Capital Market - Primary
New Issue Market – Domestic and Global
Private Placement , QIP, Disinvestment
Right Issue
Capital Market - Secondary
Secondary Market
Stock Market Operations
Indian Debt Market
Money Market
Basics of Money Market
Money Market Participants
Money Market Instruments
Repo and Reverse Repo
CRR, SLR
MIBOR, LIBOR
Government Securities Market
Institutions and Intermediaries
Depository
Stock and Commodity Exchanges – Indian and Global
Intermediaries
Institutional Investors
FPIs
Custodians
Clearing Houses
Commodity Market
What are Commodity Markets
Role of Commodity Markets
Commodity Market in India
Application of Derivative in Commodities
Global Commodities Exchanges
Banking as source of Capital including NBFCs
Concept of Project Financing
Working Capital Management
Reverse Mortgage
Mutual Funds
Meaning
Evolution
Types
Performance Measures, NAV
Mutual Fund Organisation
Advantages and Disadvantages of Mutual Fund
Exchange Traded Funds (ETFs)
Real Estate Investment Trusts (ReITs)
Infrastructure Investment Trusts (Invits)
Private Equity
Meaning and Classification
Venture Capital
Buyouts
Special Cases
Hurdle rate
Paid in Capital
Term Sheet
Cost of Investing in Private Equity
Exit Routes
Valuation of Private Equity Transactions
Private Equity Funds (Distribution of returns in General Partner and Limited Partners)
Investment Banking
Concept
Functions
Challenges
Developments in Investment Banking
Merchant Banking and issue management
Credit Rating
Introduction
Rating Services
Objectives and types
Uses
Credit Rating Process
Credit Rating Methodology
Rating Revisions
Credit Rating Agencies in India and abroad
Limitations with case studies
Treasury Operations
Raising and Deployment of Funds
Risk Management
Risk Management
Preventive Controls
Early Signals
Credit Risk
Credit Derivatives
Credit Default Swaps
Collateralized Debt Obligations (CDO)
Pricing of Credit Derivative Instruments
Leasing Decisions
Factoring
SEBI Guidelines
Paper 6C- International Taxation
Part I - Taxation of International Transactions and Non-resident Taxation in India
Transfer Pricing provisions under the Income-tax Act, 1961
Arm’s Length Price
International Transactions
Most Appropriate Method
Functions, Assets and Risk Analysis
Documentation & Compliances
Specific Reporting Regime in respect of Country by Country reporting and master file
Advance Pricing Agreements
Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961
Non-resident Taxation (including Source Rule of Taxation)
Double Taxation Relief
Advance Rulings
Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview
Part II - Other aspects of International Taxation
Overview of Model Tax Conventions
OECD Model Tax Convention
UN Model Tax Convention
US Model Tax Convention
Tax treaties, Application and Interpretation
Features of Tax treaties
Overview of Tax Information Exchange Agreements
Commentaries and their importance
Role of Vienna Convention in application and interpretation of tax treaties
Anti Avoidance Measures
Controlled Foreign Corporations
Base Erosion and Profit Shifting
Other Anti Avoidance Measures
Taxation of E-Commerce Transactions
Introduction
Emerging issues
Equalisation levy
Paper 6 D- Economic laws
World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism
Competition Act, 2002 and Rules/ Regulations
Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
Prevention of Money Laundering Act, 2002 and Rules/ Regulations
Foreign Exchange Management Act, 1999 and Rules/ Regulations
Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations
Paper 6E- Global Financial Reporting Standards
Conceptual Framework for Financial Reporting as per IFRS
Application of International Financial Reporting Standards
Significant differences between IFRS and US GAAPs
Paper 6F- Multidisciplinary Case Study
Financial Accounting and Reporting
Audit and Assurance
Taxation
Finance and Financial Management
Management Accounting
Corporate Laws
Business Strategy and Management
Paper 7- Direct Tax laws and International taxation
Part I : Direct Tax Laws
Law and Procedures under the Income-tax Act, 1961,
Basis of charge, residential status, income which do not form part of total income, heads of income, income of other persons included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates and reliefs
Special provisions relating to companies and certain persons other than a company
Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts
Tax Planning, Tax Avoidance & Tax Evasion
Collection & Recovery of Tax, Refunds
Income-tax Authorities, Procedure for assessment, Appeals and Revision
Settlement of Tax Cases, Penalties, Offences & Prosecution
Liability in Special Cases
Miscellaneous Provisions and Other Provisions
Part II: International Taxation
Taxation of international transactions and Non-resident taxation
The provisions under the Income-tax Act, 1961, including
Specific provisions relating to Non-residents
Double Taxation Relief
Transfer Pricing & Other Anti-Avoidance Measures
Advance Rulings
Equalisation levy
Overview of Model Tax Conventions – OECD & UN
Application and interpretation of Tax Treaties
Fundamentals of Base Erosion and Profit Shifting
Paper 8- Indirect Tax Laws
Part-I: Goods and Services Tax
Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017 including:
Introduction to GST in India including Constitutional aspects
Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax including reverse charge; Exemption from tax; Composition levy
Place of supply
Time and Value of supply
Input tax credit
Computation of GST liability
Procedures under GST including registration, tax invoice, credit and debit notes, electronic way bill, accounts and records, returns, payment of tax including tax deduction at source and tax collection at source, refund, job work
Liability to pay in certain cases
Administration of GST; Assessment and Audit
Inspection, Search, Seizure and Arrest
Demand and Recovery
Offences and Penalties
Advance Ruling
Appeals and Revision
Other provisions
Part-II: Customs & FTP
Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
Introduction to customs law including Constitutional aspects
Levy of and exemptions from customs duties – All provisions including application of customs law, taxable event, charge of customs duty, exceptions to levy of customs duty, exemption from custom duty
Types of customs duties
Classification and valuation of imported and export goods
Officers of Customs; Appointment of customs ports, airports etc.
Import and Export Procedures including special procedures relating to baggage, goods imported or exported by post, stores
Provisions relating to coastal goods and vessels carrying coastal goods
Warehousing
Drawback
Demand and Recovery;
Refund
Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods
Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution
Appeals and Revision; Advance Rulings; Settlement Commission
Other provisions
Foreign Trade Policy to the extent relevant to the indirect tax laws
Introduction to FTP
legislation governing FTP
salient features of an FTP
administration of FTP
contents of FTP and other related provisions
Basic concepts relating to import and export
Basic concepts relating to export promotion schemes provided under FTP
CA Final Old Syllabus 2020
Candidates enrolled under the old scheme may refer to the CA Final syllabus May 2020 and prepare for the upcoming session of exams accordingly for both group 1 and group 2.
CA Final Old Syllabus Group 1-
Paper 1- Financial Reporting
Accounting Standards and Guidance Notes on various accounting aspects issued by the ICAI and their applications.
Introduction of Indian Accounting Standards (Ind AS);
Comparative study of ASs vis-a-vis Ind ASs
Carve outs/ins in Ind ASs vis-à-vis International Financial Reporting Standards (IFRSs)
Corporate Financial Reporting - Issues and problems with special reference to published financial statements.
Accounting for Corporate Restructuring (including inter-company holdings).
Consolidated Financial Statements of Group Companies
Concept of a Group,
Purposes of consolidated financial statements,
Minority interest,
Goodwill,
Consolidation procedures
Minority interests
Goodwill,
Treatment of pre- acquisition and post-acquisition profit
Consolidation with two or more subsidiaries,
Consolidation with foreign subsidiaries.
Consolidated profit and loss account,
Balance sheet and cash flow statement
Treatment of investment in associates in consolidated financial statements
Treatment of investments in joint ventures in consolidated financial statements.
Accounting and reporting of financial instruments
Meaning
Recognition
Derecognition and offset,
Compound financial instruments
Measurement of financial instruments
Hedge accounting
Disclosures
Share based payments
Meaning
Equity settled transactions
Transaction with employees and non- employees
Determination of fair value of equity instruments
Vesting conditions
Modification
Cancellation and settlement
Disclosures
Financial Reporting by Mutual funds, Non-banking finance companies, Merchant bankers, Stock and commodity market intermediaries.
Valuation
Concept of Valuation
Valuation of Tangible Fixed Assets
Valuation of Intangibles including brand valuation and valuation of goodwill
Valuation of liabilities
Valuation of Shares
Valuation of Business
Developments in Financial Reporting
Value Added Statement
Economic Value Added, Market Value Added, Shareholders’ Value Added
Human Resource Reporting
Paper 2- Strategic Financial Management
Financial Policy and Corporate Strategy
Strategic decision making framework
Interface of Financial Policy and strategic management
Balancing financial goals vis-à-vis sustainable growth.
Project Planning and Capital Budgeting
Feasibility study
Cash flow Projections
Impact of taxation
Depreciation
Inflation
Working capital
Capital Budgeting Decisions
Certainty Equivalent approach
Evaluation of Risky Investment Proposals
Risk and Return analysis
Simulation and decision tree analysis
Sensitivity analysis
Capital Rationing
Adjusted Net Present Value
Replacement decisions
Application of Real Options in capital budgeting
Impact of inflation on capital budgeting decisions
Preparation of Project Report
Social cost benefit analysis
Leasing decision including cross border leasing
Dividend Decisions
Dividend theories
Determinants of dividend policies
Capital Market
Indian Capital Market including role of various primary and secondary market institutions
Capital Market Instruments
Financial derivatives
Stock futures
Stock options
Index futures
Index options
Option valuation techniques
Binomial model
Black Scholes Option Pricing Model
Greeks- Delta, Gamma, Theta, Rho and Vega
Pricing of Futures
Cost of carry model
Imbedded derivatives
Commodity derivatives
OTC derivatives
Swaps
Swaptions
Forward Rate Agreements (FRAs)
Caps
Floors and Collors
Security Analysis
Fundamental analysis
Economic analysis
Industry analysis
Company Analysis
Bond valuation, Price Yield relationship, Bond Price forecasting
Application of duration and convexity
Yield curve strategies
Technical Analysis
Market cycle model and basic trend identification,
Different types of charting
Support and resistance,
Price patterns
Moving averages
Bollinger Bands
Momentum analysis
Portfolio Theory and Asset Pricing
Efficient Market Theory
Random walk theory
Markowitz model of risk return optimization
Capital Asset Pricing Model (CAPM)
Arbitrage Pricing Theory
Sharpe Index Model
Portfolio Management
Formulation
Monitoring
Evaluation
Equity Style Management
Principles and Management of Hedge Funds
International Portfolio Management
Financial Services in India
Investment Banking
Retail Banking
On Line Share Trading
Depository Service
Funds
Mutual Funds
Regulatory framework
Formulation
Monitoring and evaluation of various schemes of Mutual funds
Money market mutual funds
Exchange Traded Funds
Money Market operations
a) Foreign Direct Investment, Foreign Institutional Investment
b) International Financial Management
Raising of capital abroad
American Depository Receipts
Global Depository Receipts
External Commercial Borrowings
Foreign Currency Convertible Bonds
International Capital Budgeting
International Working Capital Management
Foreign Exchange Exposure and Risk Management
Exchange rate determination
Exchange rate forecasting
Foreign currency market
Foreign exchange derivatives
Forward
Futures
Options
Swaps
Management of transaction, translation and economic exposures
Hedging currency risk
Mergers, Acquisitions and Restructuring
Meaning of mergers and acquisition, categories, purposes
Process of mergers and acquisition
Identification and valuation of the target
acquisition through negotiation
due diligence
post – merger integration
Legal and regulatory requirements
Merger and Acquisition agreement
Reverse merger
Potential adverse competitive effects of mergers
Corporate Takeovers
Motivations
Co-insurance effect
Cross-border takeovers
Forms of takeovers
Takeover defenses
Going Private and Other Control Transactions
Leveraged Buyouts (LBOs)
Management Buyouts (MBOs)
Spin Offs
Asset Divestitures
Corporate Restructuring
Refinancing and rescue financing
Reorganizations of debtors and creditors
Sale of assets
Targeted stock offerings
Downsizing and layoff programmes
Negotiated wage give-backs
Employee buyouts
Paper 3- Advanced Auditing and Professional Ethics
Auditing Standards, Statements and Guidance Notes
Auditing and Assurance Standards (AASs);
Statements and Guidance Notes on Auditing issued by the ICAI
Significant differences between Auditing and Assurance Standards and International Standards on Auditing
Audit strategy, planning and programming
Planning the flow of audit work
Review of audit notes and working papers
Drafting of reports
Principal’s ultimate responsibility
Extent of delegation
Control over quality of audit work
Reliance on the work of other auditor
Internal auditor or an expert
Risk Assessment and Internal Control
Evaluation of internal control procedures
Techniques including questionnaire
Flowchart
Internal audit and external audit
Coordination between the two
Audit under computerized information system (CIS) environment
Special aspects of CIS Audit Environment
Need for review of internal control especially procedure controls and facility controls
Approach to audit in CIS Environment
Use of computers for internal and management audit purposes: audit tools, test packs, computerized audit programmes
Special Aspects in Audit of E-Commerce Transaction
Special audit techniques
Selective verification; statistical sampling; Special audit procedures; physical verification of assets, direct confirmation of debtors and creditors
Analytical review procedures
Risk-based auditing
Audit of limited companies
Relevant Provisions under the Companies Act, 2013 relating to Audit and Auditors and Rules made thereunder
Audit of branches
Joint audits
Dividends and divisible profits - financial, legal, and policy considerations
Rights, duties, and liabilities of auditors; third party liability
Audit reports
Qualifications
Notes on accounts
Distinction between notes and qualifications
Detailed observations by the statutory auditor to the management vis-a-vis obligations of reporting to the members
Audit Committee and Corporate Governance
Provisions under the Companies Act, 2013 in respect of Accounts of Companies and Rules made thereunder. Audit of Consolidated Financial Statements, Audit Reports and Certificates for Special Purpose engagements; Certificates under the Payment of Bonus Act, import/export control authorities, etc.; Specific services to non-audit clients; Certificate on Corporate Governance.
Special features of audit of banks, insurance companies, co-operative societies and non-banking financial companies.
Audit under Fiscal Laws, viz, Direct and Indirect Tax Laws
Cost audit
Special audit assignments like audit of bank borrowers, audit of stock and commodity exchange intermediaries and depositories; inspection of special entities like banks, financial institutions, mutual funds, stock brokers.
Special features in audit of public sector companies.
Directions of Comptroller and Auditor General of India to statutory auditors
Concepts of propriety and efficiency audit
Internal audit
Management and operational audit
Nature and purpose
Organisation
Audit programme
Behavioural problems
Internal Audit Standards issued by the ICAI
Specific areas of management and operational audit involving review of internal control
Purchasing operations
Manufacturing operations
Selling and distribution
Personnel policies
Systems and procedures
Aspects relating to concurrent audit
Investigation and Due Diligence
Concept of peer review
Salient features of Sarbanes
Oxley Act, 2002 with special reference to reporting on internal control
Professional Ethics
Code of Ethics with special reference to the relevant provisions of The Chartered Accountants Act, 1949 and the Regulations thereunder
Paper 4- Corporate and Allied Laws
Section A- company Law & Insolvency and Bankruptcy Code 2016
The Companies Act, 2013 and Rules framed thereunder in its entirety with specific reference to
Declaration and payment of Dividend
Accounts and audit
Appointment and Qualifications of Directors
Appointment and remuneration of Managerial Personnel
Meetings of Board and its powers
Inspection, Inquiry and Investigation
Compromises, Arrangements and Amalgamations
Prevention of Oppression and Mismanagement
Revival and Rehabilitation of Sick Companies
Winding Up
Producer Companies
Companies incorporated outside India
Offences and Penalties
E-governance
National Company Law Tribunal and Appellate Tribunal
Special Courts
Miscellaneous Provisions
Corporate Secretarial Practice
Drafting of Resolution
Minutes
Notices
Reports
Insolvency and Bankruptcy Code, 2016
Covering Important Definitions
Corporate Insolvency Resolution Process
Liquidation Process
Section B- Allied Laws
An overview of the following laws:
The Securities and Exchange Board of India Act, 1992, Rules, Regulations and Guidelines issued thereunder
Securities Contracts (Regulation) Act, 1956
The Foreign Exchange Management Act, 1999
The Competition Act, 2002
The Banking Regulation Act, 1949, The Insurance Act, 1938. The Insurance Regulatory and Development Authority Act, 1999. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
The Prevention of Money Laundering Act, 2002
Interpretation of Statutes, Deeds and Documents
CA Final Old Syllabus Group 2
Paper 5- Advanced Management Accounting
Cost Management
Developments in the Business Environment
Just in Time
Manufacturing Resources Planning; (MRP)
Automated Manufacturing
Synchronous Manufacturing and Back Flush Systems to reflect the importance of accurate bills of material and routings
World Class Manufacturing
Total Quality Management
Activity Based Approaches to management and cost analysis
Analysis of Common Costs in manufacturing and service industry
Techniques for Profit Improvement, Cost Reduction, and Value Analysis
Throughput Accounting
Target Costing; Cost Ascertainment and Pricing of Products and Services
Life Cycle Costing
Shut Down and Divestment
Cost Volume Profit Analysis
Relevant Cost
Product Sales Pricing and Mix
Limiting Factors
Multiple Scarce Resource Problems
Decisions about Alternatives such as Make or Buy, Selection of Products, etc.
Pricing Decisions
Pricing of a Finished Product
Theory of Price
Pricing Policy
Principles of Product Pricing
New Product Pricing
Pricing Strategies
Pricing of Services
Pareto Analysis
Budgets and Budgetary Control
The Budget Manual
Preparation and Monitoring Procedures
Budget Variances
Flexible Budgets
Preparation of Functional Budget for Operating and Non-Operating Functions
Cash Budgets
Capital Expenditure Budget
Master Budget
Principal Budget Factors
Standard Costing and Variance Analysis
Types of Standards and Sources of Standard Cost Information; Evolution of Standards, Continuous – Improvement; Keeping Standards Meaningful and Relevant; Variance Analysis; Disposal of Variances
Investigation and Interpretation of Variances and their Inter Relationship
Behavioural Considerations
Transfer Pricing
Objectives of Transfer Pricing
Methods of Transfer Pricing
Conflict between a Division and a Company
Multinational Transfer Pricing
Cost Management in Service Sector
Uniform Costing and Inter Firm Comparison
Profitability Analysis - Product Wise / Segment Wise / Customer Wise
Financial Decision Modeling
Linear Programming
Network Analysis
PERT/CPM
Resource Allocation
Resource Leveling
Transportation Problems
Assignment Problems
Simulation
Learning Curve Theory
Paper 6- Information Systems Control and Audit
Concepts of Governance and Management of Information Systems
Governance, Risk and compliance and relationship between governance and management
Role of information technology and IS Strategy in business strategy
Operations and control
Business value from use of IT
Business impact of IS risks different types of Information Systems Risks
IS Risk management overview
IT Compliance overview
Role and responsibilities of top management as regards IT-GRC
Role of Information Systems Assurance
Overview of Governance of Enterprise IT and COBIT
Information Systems Concepts
Overview of information systems in IT environment and practical aspects of application of information systems in enterprise processes
Information as a key business asset and its relation to business objectives
business processes and relative importance of information systems from strategic and operational perspectives
Various types of business applications
Overview of underlying IT technologies
3. Protection of Information Systems
Need for protection of Information systems
Types of controls
IT general controls
logical access controls & application controls
Technologies and security management features
IS Security Policies
Procedures
Practices
Standards and guidelines
IT controls and control objectives
Role of technology systems in control monitoring
Segregation of duties
Impact of IT controls on Internal controls over financial reporting
Cyber frauds and control failures
4. Business Continuity Planning and Disaster recovery planning
Assessing Business Continuity Management
Business Impact Analysis and Business Continuity Plans
Disaster recovery from perspective of going concern
Recovery Strategies
5. Acquisition, Development and Implementation of Information Systems (SDLC)
Business process design (integrated systems, automated, and manual interfaces)
Software procurement
RFP process, evaluation of IT proposals
Computing ROI
Computing Cost of IT implementation and cost benefit analysis
Systematic approach to SDLC and review of SDLC controls at different stages
6. Auditing & Information Systems
Different types of IS audit and assurance engagements
Evaluating IT dependencies for audit planning
Overview of continuous auditing
Auditing Information Systems
IS Audit planning
performing an IS audit
Rules of digital evidence
Best practices and standards for IS audit
Reviewing General Controls
Application Controls
Application control reviews
Review of controls at various levels/layers such as: Parameters, user creation, granting of access rights, input, processing and output controls.
7. Information Technology Regulatory issues
Overview of Specific section of IT Act 2008 & Rules as relevant for assurance
Electronic Contracting
Digital signatures
Cyber offences
Need for systems audit as per various regulations such as
SEBI Clause 49 listing requirements and internal controls
Systems control & audit requirements as per RBI, SEBI, IRDA
Concepts of Cyber forensics/Cyber Fraud investigation
Overview of Information Security Standards ISO 27001, ISAE 3402/SA 402, ITIL
8. Emerging Technology
Overview of Cloud Computing
Software as a Service
Mobile Computing & BYOD
Web 2.0 & social media
Green IT and related security and audit issues
Paper 7- Direct Tax Laws
The Income-tax Act, 1961 and Rules thereunder
Considerations relevant to tax management
Tax considerations with regard to specific management decisions
Foreign collaboration agreements
International taxation
Amalgamations
Tax incentives
Personnel compensation plans
Inter-relationship of taxation and accounting, with special reference to relevant accounting standards
Other precautions to be observed to maximise tax relief
Basic understanding about the ethical considerations in tax management and
Compliance with taxation laws
Paper 8- Indirect Tax Laws
Part 1- Goods and Services Tax
Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017
Constitutional aspects
Levy and collection of CGST and IGST
Application of CGST/IGST law
Concept of supply including composite and mixed supplies
inter-State supply
intra-State supply
supplies in territorial waters
Charge of tax
Exemption from tax
Composition levy
Place of supply
Composition levy
Input tax credit
Computation of GST liability
Procedures under GST
All procedures including registration
Tax invoice
Credit and debit notes
Electronic way bill
Accounts and records
Returns
Payment of tax including reverse charge
Refund
Job work
Provisions relating to electronic commerce
Liability to pay in certain cases
Administration of GST; Assessment and Audit
Inspection, Search, Seizure and Arrest
Demand and Recovery
Offences and Penalties
Advance Ruling
Appeals and Revision
Other provisions
Part 2- Customs and FTP
Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
Introduction to customs law including Constitutional aspects
Levy of and exemptions from customs duties
All provisions including application of customs law
Taxable event
Charge of customs duty
Exceptions to levy of customs duty
Exemption from custom duty
Types of customs duties
Classification and valuation of imported and export goods
Officers of Customs
Appointment of customs ports, airports etc.
Import and Export Procedures - All import and export procedures including special procedures relating to baggage, goods imported or exported by post, stores
Provisions relating to coastal goods and vessels carrying coastal goods
Warehousing
Drawback
Demand and Recovery; Refund
Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods
Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution
Appeals and Revision; Advance Rulings; Settlement Commission
Other provisions
Foreign Trade Policy to the extent relevant to the indirect tax laws
Introduction to FTP
Legislation governing FTP
Salient features of an FTP
Contents of FTP
Other related provisions
Basic concepts relating to import and export of goods
Basic concepts relating to export promotion schemes provided under FTP
Frequently Asked Question (FAQs) - CA Final Syllabus 2020
Question: How many subjects are there in CA Final 2019?
Answer:
CA Intermediate consists of 8 subjects.
Question: What are the passing marks of CA Final?
Answer:
In order to qualify CA Final, candidates must score at least 40% in each paper and 50% overall.
Question: Does the CA Final exam pattern have any negative marking?
Answer:
No, there is no negative marking for CA Final exams.
Question: Is a calculator allowed in CA Final exam?
Answer:
Yes. ICAI allows candidates to use calculators in the exam hall. The calculators should be of any type with up to 6 functions, 12 digits and up to two memories.
The Institute of Chartered Accountants of India, New Delhi Updates and Articles
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Questions related to The Institute of Chartered Accountants of India, New Delhi
When is the last date to register for articleship after ITT and orientation course for november 2021 CA inter exam through direct entry route?
Hello student you may register yourself through direct entry till 31st January 2021 and start your internship immediately to complete 09 months of practical training to be eligible to fill up the examination Form of CA Intermediate November 2021 examination.
Feel free to comment if you've any doubt
Good luck
Dear sir, pleanse make sure to me ... if i selected hindi mediam of CA Foundation Course so that could u tell me the question paper is in English also or not becouse the Economics and Mathmetics are prepared in english by me. what should i do ???
Hi,
If you have chosen Hindi medium , then question paper will obviously be in Hindi Language. You cannot differ in language for different papers. So, I would suggest you to choose the medium wisely. You can sleect only one for course and question paper will be mentioned in that language only.
How can I download the delecration of student form for November 2020
Can you tell for which exam or purpose you want to know about declaration form, I can give correct information only when you tell that.
After filling of the registration form online for ca final new course, whether the form & supporting documents need to be physically submitted at the regional office of ICAI. please clarify.
Now everything is done online through the ICAI portal. So there is no need for physical submission of documents. You have to submit the form on the ssp portal. You need not go to the institute for submitting the documents.
can a government teacher do chartered accountant course?
hello aspirant..
Yes , it is possible
Govt Employee can take Sabbatical to do CA if granted in which case employee will be paid salary and all perks for upto 3 yrs while doing CA.
Otherwise Employee can do CA Foundation course in their own time and write exam in their own time
HOPE IT WOULD HAVE HELPED YOU
ALL THE BEST