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Section-Wise Weightage
CA Final Course
Paper 1: Financial Reporting (100M)
Content | Sections | Weightage |
1. Introduction to General Purpose Financial Statements as per Indian Accounting Standard (Ind AS) | I | 10% - 15% |
Statutory provisions: Applicability criteria | ||
Division II of Schedule III to the Companies Act, 2013 and Guidance Note thereupon | ||
2. Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) |
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3. Application of Ind AS with reference to General Purpose Financial Statements |
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(i) Ind AS on Presentation of Items in the Financial Statements |
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Ind AS1 “Presentation of Financial Statements” |
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Ind AS 34 “Interim Financial Reporting” |
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Ind AS 7 “Statement of Cash Flows” |
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(ii) Ind AS on Measurement based on Accounting Policies |
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Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors” |
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Ind AS 10 “Events after the Reporting Period” |
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Ind AS 113 “Fair Value Measurement” |
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(iii) Ind AS on Income Statement |
II | 5% - 10% |
Ind AS 115* “Revenue from Contracts with the Customers” |
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(iv) Ind AS on Assets and Liabilities of the Financial Statements |
III | 15% - 25% |
Ind AS 2 “Inventories” |
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Ind AS 16 “Property, Plant and Equipment” |
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Ind AS 116* “Leases” |
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Ind AS 23 “Borrowing Costs” |
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Ind AS 36 “Impairment of Assets” |
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Ind AS 38 “Intangible Assets” |
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Ind AS 40 “Investment Property” |
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Ind AS 105 “Non-current Assets Held for Sale and Discontinued Operations” |
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Ind AS 19 “Employee Benefits” |
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Ind AS 37 “Provisions, Contingent Liabilities and Contingent Assets” |
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(v) Ind AS on Items impacting the Financial Statements |
IV | 15% - 20% |
Ind AS 12* “Income Taxes” |
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Ind AS 21 “The Effects of Changes in Foreign Exchange Rates” |
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(vi) Ind AS on Disclosures in the Financial Statements |
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Ind AS 24 “Related Party Disclosures” |
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Ind AS 33 “Earnings per Share” |
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Ind AS 108 “Operating Segments” |
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(vii) Other Ind AS |
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Ind AS 20 “Accounting for Government Grants and Disclosure of Government Assistance” |
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Ind AS 102 “Share Based Payment” |
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Ind AS 41 “Agriculture” |
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(viii) Ind AS on Financial Instruments (it includes Ind AS 32, Ind AS 109, Ind AS 107) |
V | 10% - 15% |
Financial Instruments: Scope and Definitions |
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Classification and Measurement of Financial Assets and Financial Liabilities |
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Financial Instruments: Equity and Financial Liabilities |
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Derivatives and Embedded Derivatives |
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Recognition and Derecognition of Financial Instruments |
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Hedge Accounting |
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Disclosures |
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4. Ind AS on Group Accounting |
VI | 10% - 20% |
(i) Business Combinations (Ind AS 103) |
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(ii) Consolidated and Separate Financial Statements (it includes Ind AS 110, Ind AS 111, Ind AS 27, Ind AS 28, Ind AS 112) |
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5. First time adoption of Indian Accounting Standards (Ind AS 101) |
VII | 5% - 10% |
6. Analysis of financial statements (as per Ind AS) |
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7. Ethics with Accounting Concepts |
VIII | 5% - 10% |
Identify and explain the key ethical issues |
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8. Technology and Accounting |
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Evolution of Accounting in the technological environment |
Paper 2 : Advanced Financial Management (100M)
Contents | Section | Weightage |
(1) Financial Policy and Corporate Strategy
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I | 8% - 15% |
(2) Risk Management
|
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(3) Advanced Capital Budgeting Decisions
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(4) Security Analysis
|
II | 20% - 30% |
(5) Security Valuation
|
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(6) Portfolio Management
|
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(7) Securitization
|
III | 20% - 30% |
(8) Mutual Funds
|
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(9) Derivatives Analysis and Valuation
|
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(10) Foreign Exchange Exposure and Risk Management
|
IV | 20% - 25% |
(11) International Financial Management
|
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(12) Interest Rate Risk Management
|
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(13) Business Valuation
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V | 10% - 15% |
(14) Mergers, Acquisitions and Corporate Restructuring
|
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(15) Startup Finance
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VI | 2% - 5% |
Paper 8 : Advanced Auditing, Assurance and Professional Ethics (100M)
Contents | Section | Weightage |
1. Quality Control: SQC 1 Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information and Other Assurance and Related Services Engagements SA 220 Quality Control for an Audit of Financial Statements |
I | 45% - 55% |
2. General Auditing Principles and Auditors Responsibilities: SA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements (Note: Content of SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing; SA 210 Agreeing the Terms of Audit Engagements and SA 230 Audit Documentation is covered in depth at Intermediate level. Thus, application part of above SAs may be discussed in the form of Case Study at Final level.) |
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3. Audit Planning, Strategy, and Execution: SA 300 Planning an Audit of Financial Statements; (Content is covered in depth at Intermediate level, therefore, application part of SA 300 may be discussed in the form of Case Study at Final level.) SA 450 Evaluation of Misstatements identified During the Audit SA 520 Analytical Procedures SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates and Related Disclosures SA 610 Using the Work of Internal Auditors SA 620 Using the Work of an Auditor’s Expert |
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4. Materiality, Risk Assessment and Internal Control: SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management. SA 330 The Auditor’s Responses to Assessed Risks (Note: Content of SA 315 Identifying and Assessing the Risk of Material Misstatement through Understanding the Entity and its Environment and SA 320 Materiality in Planning and Performing an Audit is covered in depth at Intermediate level. Thus, application part of above SAs may be discussed in the form of Case Study at Final level.) |
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5. Audit Evidence (Note: Content of SA 500 Audit Evidence; SA 501 Audit Evidence - Specific Considerations for Selected Items; SA 505 External Confirmations; SA 510 Initial Audit Engagements – Opening Balances; SA 530 Audit Sampling & SA 550 Related Parties is covered in depth at Intermediate level. Thus, application part of above SAs may be discussed in the form of Case Study at Final level.) |
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6. Completion and Review (Note: Content of SA 560 Subsequent Event; SA 570 Going Concern and SA 580 Written Representation is covered in depth at Intermediate level. Thus, application part of above SAs may be discussed in the form of Case Study at Final level.) |
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7. Reporting SA 700 Forming an Opinion and Reporting on Financial Statements SA 701 Communicating Key Audit Matters in the Independent Auditor’s Report SA 705 Modifications to the Opinion in the Independent Auditor’s Report SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements SA 720 The Auditor’s Responsibility in Relation to Other Information |
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8. Specialised Areas Basic and Overview of SA 800 Special Considerations-Audits of Financial Statements Prepared in Accordance with Special Purpose Frameworks Basic and Overview of SA 805 Special Considerations-Audits of Single Financial Statements and Specific Elements, Accounts or Items of a Financial Statement Basic and Overview of SA 810 Engagements to Report on Summary Financial Statements |
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9. Related Services : Basic and Overview of SRS 4400 Engagements to perform Agreed-upon Procedures Regarding Financial Information Basic and Overview of SRS 4410 Compilation Engagements |
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10. Review of Financial Information Basic and Overview of SRE 2400 Engagements to Review Historical Financial Statements Basic and Overview of SRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity |
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11. Prospective Financial Information and Other Assurance Services Basic and Overview of SAE 3400 The Examination of Prospective Financial Information Basic and Overview of SAE 3402 Assurance Reports on Controls at a Service Organisation Basic and Overview of SAE 3420 Assurance Engagement to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus |
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12. Digital Auditing and Assurance Auditing digitally and Digital auditing, Usage of Automated Tools such as CAAT, Data Analytics, Artificial Intelligence, etc., Remote Auditing. |
II | 3% - 6% |
13. Group Audits Audit of Consolidated Financial Statements - Responsibility of Parent Company, Auditor of the Consolidated Financial Statements; Audit Considerations - Permanent Consolidation, Current Period Consolidation; Reporting. Audit of Group Financial Statements including the work of Component Auditors, SA 600 Using the Work of Another Auditor 14. Special Features of Audit of Banks & Non-Banking Financial Companies 15. Overview of Audit of Public Sector Undertakings: Concept of Propriety Audit; Performance Audit; Comprehensive Audit. 16. Internal 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; Audit Trail, Internal Audit as a Management Function 17. Due Diligence, Investigation and Forensic Accounting: Audit versus Investigation; Steps for Investigation;Types of Investigation; Procedure, Powers,etc. of Investigator; Types of Fraud, Indicators of Fraud, Follow-up thereof; Forensic Accounting- meaning, difference between Statutory Audit and Forensic Accounting, Forensic Accounting and Investigation Report, Introduction of Forensic Accounting and Investigation Standards |
III | 17% - 24% |
18. Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance etc. | IV | 3% - 6% |
19. Professional Ethics and Liabilities of Auditors: Introduction of Code of Ethics as per IESBA and Code of Ethics with special reference to the relevant provisions of the Chartered Accountants Act, 1949 and the Regulations thereunder; Application of Fundamental Principles; Application of Threats, Evaluation of Threats; Addressing Threats and Safeguards; Conceptual Framework; Important Provisions of Chartered Accountants Act,1949 and Chartered Accountants Regulations 1988. | V | 17% - 24% |
Note: If any new legislations / Engagement and Quality Control Standards/ Guidance Notes/ Statements are enacted in place of the existing legislations / Engagement and Quality Control Standards / Guidance Notes / Statements, the syllabus will accordingly include the corresponding provisions of such new legislations / Engagement and Quality Control Standards / Guidance Notes /Statements, with effect from the date to be notified by the Institute.
Similarly, if any existing legislations / Engagement and Quality Control Standards/ Guidance Notes /Statements ceases to be in force, the syllabus will accordingly exclude such legislations/ Engagement and Quality Control Standards/ Guidance Notes / Statements with effect from the date to be notified by the Institute.
Further, the specific inclusions/exclusions in any topic covered in the syllabus will be effected by way of Study Guidelines every year, if required.
Paper 4 : Direct Tax & International Taxation (100M)
Contents | Sections | Weightage |
I (i) Comprehensive computation of income-tax liabilities of companies and other entities under the alternative tax regimes under the Income-tax Act, 1961 to optimise tax liability
(ii) Special Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts, business trusts, securitisation trusts, investment funds and other funds/trusts (iii) Anti-avoidance provisions under the Act (iv) Provisions to address tax challenges on digitalisation |
I |
40%-45%
[20%-23% weightage for item (i) and 20%-22% weightage for (ii), (iii) and (iv) together] |
II. Tax Administration and Appellate Mechanism
|
II | 20% - 30% |
III. International Taxation
|
III | 30% - 35% |
Note: If any new legislation(s) are enacted in place of an existing legislation(s), the syllabus will accordingly include the corresponding provisions of such new legislation(s) in the place of the existing legislation(s) with effect from the date to be notified by the Institute. Similarly, if any existing legislation(s) on direct tax laws ceases to be in force, the syllabus will accordingly exclude such legislation(s) with effect from the date to be notified by the Institute.
Further, the specific inclusions/exclusions in any topic covered in the syllabus will be effected by way of Study Guidelines every year, if required. Specific inclusions/exclusions in a topic may also arise due to additions/deletions made every year by the Annual Finance Act.
Paper 5 : Indirect Tax Laws (100M)
Part I - Goods and Services Tax (80M)
Contents | Section | Weightage |
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 | ||
(i) Case studies based on following: Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax including reverse charge; Classification; Exemption from tax; Place of supply; Time of Supply; Value of supply; Input tax credit; Computation of GST liability |
I | 45% - 65% |
(ii) Procedures under GST including registration, tax invoice, credit and debit notes, electronic way-bill, accounts and records, returns, payment of tax (iii) Refunds and case studies based on refund provisions (iv) Job work (v) Liability to pay in certain cases |
II | 10% - 30% |
(vi) Administration of GST; Assessment and Audit (vii) Inspection, Search, Seizure and Arrest (xii) Other provisions |
III | 0 - 5% |
(viii) Demand and Recovery; Offences and Penalties (x) Advance Ruling (ix) Appeals and Revision (xi) Ethics under GST |
IV | 15% - 30% |
Part II - Customs & FTP (20M)
Contents | Section | Weightage |
1. Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975 2. Foreign Trade Policy |
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1(ii) Levy of customs duties including application of customs law, taxable event, charge of customs duty, exceptions to levy of customs duty, exemption from custom duty 1(iii) Types of customs duties 1(iv) Classification and valuation of imported and export goods |
I |
40% - 65% |
1(v) Import and Export Procedures including special procedures relating to baggage, goods imported or exported by post, stores 1(vi) Warehousing 2(iii) Basic concepts relating to export promotion schemes provided under FTP |
II |
20% - 45% |
2(i) Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP, contents of FTP and other related provisions 2(ii) Basic concepts relating to import and export 1(i) Introduction to customs law including Constitutional aspects |
III |
10% - 20% |
Note – While covering the above laws, students should familiarise themselves with the ethical considerations and information technology aspects involved in the compliance of these laws.
If any new legislation(s) is enacted in place of an existing legislation(s), the syllabus will accordingly include the corresponding provisions of such new legislation(s) in place of the existing legislation(s) with effect from the date to be notified by the Institute. Similarly, if any existing legislation ceases to have effect, the syllabus will accordingly exclude such legislation with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State GST Law.
Further, the specific inclusions/exclusions in any topic covered in the syllabus will be effected every year by way of Study Guidelines, if required.
The topics in the syllabus have been regrouped for assigning section-wise weightages.
Note: A deviation of maximum ±5% in the specified section-wise weightage is permitted.
Course Guides
Courses
CA Final Group I - All Subjects (FR + AFM + Audit)
FR + AFM Combo
Financial Reporting (FR) - CA Final
Advanced Financial Management - AFM - CA Final
Advanced Auditing & Professional Ethics - CA Final
Economic Laws - CA Final- (New)
Indirect Tax Laws (IDT) : GST, Customs & FTP - CA Final - (New)
Resume Workshop
Financial Modelling
Microsoft Excel - Beginners & Working Professionals
Fundamentals of Blockchain
Tally ERP 9.0 & Tally Prime
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