CA Inter - A Complete Guide

CA Intermediate or CA Inter is the second level course of the Chartered Accountancy exams. It consists of two groups of three subjects each. After clearing CA Foundation, a student becomes eligible to register for the ICAI CA Intermediate course. While preparing for the CA course, Intermediate is the first stage that equips the students with in-depth knowledge of the various aspects of Finance and Accounting.

In this article, you will get complete details about the ICAI CA Intermediate course.

You can register to CA Intermediate through https://eservices.icai.org/.

1. Login to the ICAI Self Service Portal
2. Click on register for intermediate through CA Foundation / Direct entry route
3. Update your details
4. Pay the required fees using an online payment method

Note:  ICAI will take 7 days to process your application.

Students who wish to appear for the exams are required to fill the exam/ application form released by the ICAI.

The following steps can be followed to fill the intermediate examination form:

• Log in to the official website( icaiexam.icai.org)
• Click on apply now
• Fill in the required details and click on Save & Preview
• Make the required payment of fees online
• Download the PDF form

The following are the details for the Intermediate Exam Fee:

	For Both Groups	For Single Group
For Indian Centres	INR 2700	INR 1500
For Kathmandu (Nepal) Centre	INR 3400	INR 2200
For Overseas Centres (Abu Dhabi, Doha, Dubai, Muscat)	US $500	US $ 325

 

CA Intermediate Examination is a pen and paper-based test. CA Inter course has a total of 6 Subjects which are categorized into two groups of three subjects each.

The details for the CA Intermediate New Syllabus is as follows:

GROUP I

Paper 1: Advanced Accounting (100 Marks)

Module 1:

• Introduction to Accounting Standards
• Framework for Preparation and Presentation of Financial Statements
• Applicability of Accounting Standards
• Presentation & Disclosure Based Accounting Standards

Module 2:

• Assets Based Accounting Standards
• Liabilities Based Accounting Standards
• Accounting Standards Based on Items Impacting Financial Statement
• Revenue Based Accounting Standards
• Other Accounting Standards
• Accounting Standards for Consolidated Financial Statement

Module 3:

• Financial Statements of Companies
• Buyback of Securities
• Amalgamation of Companies
• Accounting for Reconstruction of Companies
• Accounting for Branches including Foreign Branches

Paper 2: Corporate and Other Laws  (100 Marks)

Module 1:

• Preliminary
• Incorporation of Company and Matters Incidental Thereto
• Prospectus and Allotment of Securities
• Share Capital and Debentures
• Acceptance of Deposits by Companies
• Registration of Charges

Module 2:

• Management and Administration
• Declaration and Payment of Dividend
• Accounts of Companies
• Audit and Auditors
• Companies Incorporated Outside India 

Module 3:

• Part1: The Limited Liability Partnership Act, 2008
• Part II: Other Laws (40 Marks)
  • The Foreign Exchange Management Act 1999
  • The General Clauses Act, 1897
  • Interpretation of Statutes

Paper 3: Taxation (100 Marks)

• Section A: Income Tax Law (50 Marks)

Module1:

• Basic Concepts
• Residential Status and Scope of Total Income
• Incomes that do not form part of total income
• Heads of income

Module 2:

• Income of Other Persons included in Assessee’s Total Iincome
• Aggregation of Income, Set-off or Carry Forward of Losses
• Deductions from Gross Total Iincome
• Advance tax, Tax deduction at Source, and Tax Collection at Source
• Provisions for filing Return of Income and Self-Assessment

Module 3:

•  Income Tax Liability Computation and Optimisation

 

• Section B: Goods and Service Tax (50 marks)

Module1:

• GST in India an Introduction
• Supply Under GST
• Charge of GST
• Place of Supply
• Exemptions from GST
• Time of Supply
• Value of Supply

Module 2:

• Input Tax Credit
• Registration
• Tax Invoice; Credit and Debit Notes
• Accounts and Records
• E-Way Bill
• Payment of Tax
• Tax Deduction at Source and Collection of Tax at Source
• Returns

GROUP II

Paper 4: Cost and Management Accounting (100 Marks)

Module 1:

• Introduction to Cost and Management Accounting
• Material Cost
• Employee Cost and Direct Expenses
• Overheads Absorption Costing Method
• Activity Based Costing (ABC)
• Cost Sheet
• Cost Accounting Systems

Module 2:

• Unit & Batch Costing
• Job Costing
• Process & Operation Costing
• Joint Products and By Products
• Contract Costing
•  Costing
• Standard Costing
• Marginal Costing
• Budgets and Budgetary Control

Paper 5: Auditing and Ethics  (100 Marks)

Module 1:

• Nature, Objective, and Scope of Audit
• Audit Strategy, Audit Planning and Audit Programme
• Audit Evidence
• Risk Assessment and Internal Control
• Audit of Items of Financial Statements

Module 2:

• Audit Documentation
• Completion and Review
• Audit Report
• Audit of Banks
• Special Features of Audit of Different Types of Entities
• Ethics and Terms of Audit Engagements

Paper 6: Financial Management & Strategic Management (100 Marks)

Section A: Financial Management (50 Marks)

Module 1:

• Scope and Objectives of Financial Management 
• Types of Financing
• Financial Analysis and Planning Ratios Analysis
• Financing Decisions-Capital Structure
• Cost of Capital
• Financing Decisions-Leverages

Module2:

• Investment Decisions
• Dividend Decisions
• Management of Working Capital

Section B: Strategic Management (50Marks)

• Introduction to Strategic Management
• Strategic Analysis: External Environment
• Strategic Analysis: Internal Environment
• Strategic Choices
• Strategy Implementation and Evaluation
  
  

  There will be 30% case scenario/ case-study based MCQs and 70% descriptive questions in all the six papers of Intermediate Examination. There is no negative marking in MCQ based questions in Intermediate Examination.

 

CA Inter is not that easy to clear. You need a lot of hard work, dedication, proper strategy, and multiple revisions to get through the hurdle. Here are some tips to help you in your preparations:

• Make a proper timetable alloting required time for each subject
• The candidate should focus on the institute’s study material
• Revise the entire syllabus at least 3-4 times.
• Make summary notes for all the subjects for quick revision
• Enroll in the test series. It will help in time management and practice.
• Attempt Previous Year Question Papers. It will help in analyzing the trend of Examination.

After clearing either or both the groups of CA intermediate, a student has to undergo an articleship/ practical training for a period of 2 years.

Before the commencement of articleship, a student has to undergo 2 practical trainings of 4 weeks duration each i.e.,  ICITSS and AICITSS.

All these three trainings are compulsory in nature.

• The Intermediate student has to undergo ICITSS (IT/OC) courses before commencement of Practical Training for both the Routes (Foundation/ Direct Entry). 
  
•  A student is required to complete AICITSS (AIT & MCS) after completion of 
  Practical Training but before appearing in Final Examination.

Most of the CA Firms including Big4s prefer article assistants who have completed their intermediate course as they will be able to focus completely on work. Also, joining an articleship after completing the intermediate course will help you in learning all the aspects of the practical world without stressing about the intermediate studies and you can also start your CA Final studies timely.