CA Final Syllabus 2019

Total Marks

100 per paper

Type of exam

Objective cum descriptive

Negative Marking

None

Medium of Exam

English/ Hindi

CA Final Subjects

Contents

Marks

FINANCIAL REPORTING

Accounting for Corporate Restructuring

100

Developments in Financial Reporting

Corporate Financial Reporting

Valuation

Share-based payments

Accounting Standards and Guidance Notes on various accounting aspects issued by the ICAI and their applications

Financial Reporting by Mutual funds, Non-banking finance companies, Merchant bankers, Stock and commodity market intermediaries

Accounting and reporting of financial instruments

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)

Consolidated Financial Statements of Group Companies

STRATEGIC FINANCIAL MANAGEMENT

Leasing decision including cross border leasing

100

Mergers, Acquisitions and Restructuring

Money Market operations

Project Planning and Capital Budgeting

Foreign Exchange Exposure and Risk Management

Mutual Funds and Exchange Traded Funds

Foreign Direct Investment, Foreign Institutional Investment and International Financial Management

Financial Policy and Corporate Strategy

Financial Services in India

Indian Capital Market, Capital Market Instruments, Commodity derivatives and OTC derivatives

Portfolio Theory and Asset Pricing

Security Analysis

Dividend Decisions

ADVANCED AUDITING AND PROFESSIONAL ETHICS

Audit reports

100

Rights, duties, and liabilities of auditors; third party liability

Special features in audit of public sector companies

Audit Committee and Corporate Governance

Audit of limited companies

Professional Ethics

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 audit techniques

Salient features of Sarbanes – Oxley Act, 2002 with special reference to reporting on internal control

Cost audit

Audit under computerized information system (CIS) environment

Concept of peer review

Audit under Fiscal Laws, viz, Direct and Indirect Tax Laws

Risk Assessment and Internal Control

Internal audit, management and operational audit

Special features of audit of banks, insurance companies, co-operative societies and non-banking financial companies

Audit strategy, planning and programming

Provisions under the Companies Act, 2013 in respect of Accounts of Companies and Rules made
thereunder

Investigation and Due Diligence

Auditing Standards, Statements and Guidance Notes

CORPORATE AND ALLIED LAWS

SECTION A: COMPANY LAW & INSOLVENCY AND BANKRUPTCY CODE, 2016

70

Insolvency and Bankruptcy Code, 2016

Corporate Secretarial Practice

The Companies Act, 2013 and Rules framed thereunder in its entirety

SECTION B: ALLIED LAWS

30

An overview of 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; and The Prevention of Money Laundering Act, 2002

Interpretation of Statutes, Deeds and Documents

ADVANCED MANAGEMENT ACCOUNTING

Budgets and Budgetary Control

100

Financial Decision Modeling

Pricing Decisions

Profitability Analysis - Product Wise/ Segment Wise/ Customer Wise

Cost Management

Uniform Costing and Inter Firm Comparison

Cost Management in Service Sector

Cost Volume Profit Analysis

Transfer Pricing

Standard Costing and Variance Analysis

INFORMATION SYSTEMS CONTROL AND AUDIT

Business Continuity Planning and Disaster recovery planning

100

Emerging Technology

Protection of Information Systems

Information Technology Regulatory issues

Concepts of Governance and Management of Information Systems

Auditing & Information Systems

Acquisition, Development and Implementation of Information Systems (SDLC)

Information Systems Concepts

DIRECT TAX LAWS

The Income-tax Act, 1961 and Rules thereunder

100

INDIRECT TAX LAWS

Part-I: Goods and Services Tax

75

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

Part-II: Customs & FTP

25

Foreign Trade Policy to the extent relevant to the indirect tax laws

Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975 (some topics are excluded as provided in the PDF attached above)

CA Final Subjects

Contents

Weightage

FINANCIAL REPORTING (100 marks)

Application of Existing Accounting Standards 15, 21, 23, 25, 27 and 28 (excluded as provided in the pdf attached above)

10-15%

Application of Guidance Notes issued by ICAI on specified accounting aspects (excluded)

Framework for Preparation and Presentation of Financial Statements

Consolidated and Separate Financial Statements (as per Ind AS)

30-40%

Application of Industry specific and Transaction Specific Indian Accounting Standards

Application of Indian Accounting Standards (Ind AS)

Analysis of Financial Statements

5-15%

Accounting for Share-Based Payment (as per Ind AS)

10-15%

Accounting and Reporting of Financial Instruments (as per Ind AS)

Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS)

10-15%

Emerging trends in Reporting

5-15%

Accounting for Carbon Credits (excluded)

5-10%

Accounting for E-commerce (excluded)

STRATEGIC FINANCIAL MANAGEMENT (100 marks)

Financial Policy and Corporate Strategy

5-10%

Risk Management

Indian Financial System (excluded)

Portfolio Management

20-30%

Security Analysis

Security Valuation

Derivatives Analysis and Valuation

20-25%

Securitization

Mutual Funds

Foreign Exchange Exposure and Risk Management

20-30%

International Financial Management

Interest Rate Risk Management

Mergers, Acquisitions and Corporate Restructuring

10-15%

Corporate Valuation

International Financial Centre (IFC) (excluded)

5-10%

Small & Medium Enterprises (excluded)

Startup Finance

ADVANCED AUDITING AND PROFESSIONAL ETHICS (100 marks)

Special aspects of Auditing in an Automated Environment

10-15%

Audit Planning, Strategy and Execution

Risk Assessment and Internal Control

Auditing Standards, Statements and Guidance Notes

10-20%

Audit of Limited Companies

15-20%

Audit of Consolidated Financial Statements

10-20%

Audit Reports & Certificates for Special Purpose Engagement

Audit Reports

Audit Committee and Corporate Governance

Special features of audit of Banks, Insurance & Non-Banking Financial Companies

10-15%

Special Audit Assignments (excluded)

(some subtopics of Engagement and Quality Control Standards excluded)

Audit under Fiscal Laws

Liabilities of Auditors

5-15%

Peer Review and Quality Review

Audit of Public Sector Undertakings

Due Diligence, Investigation and Forensic Audit

Internal Audit, Management and Operational Audit

Professional Ethics

15-20%

CORPORATE AND ECONOMIC LAWS (100 marks)

PART I: CORPORATE LAWS (70 Marks) (some legislative provisions excluded as provided in the PDF attached above)

SECTION A: COMPANY LAW

Corporate Secretarial Practice

10-15%

The Companies Act, 2013

30-35%

SECTION B: SECURITIES LAWS

The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957

15-20%

The Securities Exchange Board of India Act, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

PART II: ECONOMIC LAWS (30 MARKS)

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

25-35%

The Foreign Exchange Management Act, 1999 (subtopics added and applicable from May 2020 as provided in the pdf above)

The Arbitration and Conciliation Act, 1996

15-25%

Foreign Contribution Regulation Act, 2010

The Prevention of Money Laundering Act, 2002

15-25%

The Insolvency and Bankruptcy Code, 2016

25-35%

STRATEGIC COST MANAGEMENT AND PERFORMANCE

EVALUATION (100 marks)

PART A- STRATEGIC COST MANAGEMENT AND DECISION MAKING

Strategic Cost Management

35-40%

Introduction to Strategic Cost Management

Cost Management Techniques

Modern Business Environment

Lean System and Innovation

Cost Management for Specific Sectors

Strategic Decision Making

35-40%

Pricing Strategies/ Decisions

Decision Making

PART B- PERFORMANCE EVALUATION AND CONTROL

-

Performance Evaluation and Reporting

Strategic Analysis of Operating Income

Divisional Transfer Pricing

Performance Measurement and Evaluation

Managerial Control

Standard Costing

Budgetary Control

CASE STUDY

20-30%

RISK MANAGEMENT (100 marks)

Introduction to risk

-

Operational Risk Management

Quantitative analysis (excluded)

Enterprise Risk Management

Risk associated with corporate governance

Source and evaluation of risks

Credit risk measurement and management

Risk model

Risk management

FINANCIAL SERVICES AND CAPITAL MARKETS (100 marks)

Credit Rating

-

SEBI Guidelines

Credit Derivatives

Global Financial Markets

Risk Management

Private Equity

Treasury Operations

Impact of various Policies of Financial Markets

Investment Banking

Capital Market - Primary

Capital Market - Secondary

Commodity Market

Mutual Funds

Money Market

Banking – Management (excluded)

Banking as source of Capital including NBFCs

Institutions and Intermediaries

INTERNATIONAL TAXATION (100 marks)

Part I - Taxation of International Transactions and Non-resident

Taxation in India

-

Other Provisions relating to taxation of international transactions and non-
resident taxation under the Income-tax Act, 1961

Law and Procedures under the Black Money (Undisclosed Foreign Income
and Assets) and Imposition of Tax Act, 2015 – An Overview

Transfer Pricing provisions under the Income-tax Act, 1961

Part II - Other aspects of International Taxation

Overview of Model Tax Conventions

Taxation of E-Commerce Transactions

Tax treaties, Application and Interpretation

Anti-Avoidance Measures

ECONOMIC LAWS (100 marks)

Competition Act, 2002 and Rules/ Regulations

-

Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations

Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute

Settlement Mechanism (excluded)

Foreign Exchange Management Act, 1999 and Rules/ Regulations

Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]

Prevention of Money Laundering Act, 2002 and Rules/ Regulations

GLOBAL FINANCIAL REPORTING STANDARDS (100 marks)

Significant differences between IFRS and US GAAPs

-

Application of International Financial Reporting Standards

Conceptual Framework for Financial Reporting as per IFRS

PAPER 6F: MULTIDISCIPLINARY CASE STUDY

Business Strategy and Management

-

Taxation

Corporate Laws

Financial Accounting and Reporting

Management Accounting

Audit and Assurance

Finance and Financial Management

DIRECT TAX LAWS AND INTERNATIONAL TAXATION (100 marks)

Part I: Direct Tax Laws (70 Marks)

-

Law and Procedures under the Income-tax Act, 1961

Part II: International Taxation (30 Marks)

-

Fundamentals of Base Erosion and Profit Shifting

Application and interpretation of Tax Treaties

Overview of Model Tax Conventions- OECD & UN

Taxation of international transactions and Non-resident taxation

INDIRECT TAX LAWS (100 marks)

Part-I: Goods and Services Tax (75 Marks)

-

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

Part-II: Customs & FTP (25 Marks)

-

Foreign Trade Policy to the extent relevant to the indirect tax laws

Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975 (some subtopics excluded)