CA Inter Syllabus and Subjects

Syllabus along with subjects explained in detail

CA foundation course


After crossing the first level of your CA journey — the CA Foundation, you reach the CA Intermediate level, previously known as CA IPCC. 

Understanding the CA Inter syllabus and CA Inter subjects is where you start planning and preparing yourself for the CA inter exams

The ICAI has revised the CA inter syllabus 2021, bringing fresh updates to the CA inter program to ensure what students learn is aligned with the new developments in accounts, finance and other economic sectors. 

While the CA inter subjects remain more or less the same as before, the topics in the CA intermediate syllabus have gone through some changes. Hence, it’s vital to know the latest CA inter syllabus for all candidates applying for the CA intermediate exams.  

This resource guide will familiarize you with the changes made in the CA intermediate syllabus 2021, the subjects in CA inter, and the subject-wise marks distribution. We’ll round off by addressing some of the most common questions that candidates have in mind regarding the CA inter syllabus and subjects. 

Syllabus Updates

ICAI has made some changes in the CA inter syllabus since the CA Intermediate November 2019 exams. Some topics from the previous syllabus have been removed and some have been added to the new CA inter syllabus. Check the next two sections for details. 

  • The CA intermediate syllabus 2021 is split into two groups. The registered candidates can appear in either one or both groups based on their preference and preparation. 
  • The new CA inter syllabus also follows a revised structure of marks distribution. Aspirants are advised to plan their preparations keeping these weights in mind.

Addition of Topics

Some of the inclusions made by the ICAI in the amended CA inter syllabus are: 

Paper 1 Accounting

Below topics are shifted from Paper 1 (Accounting) to Paper 5 (Advanced Accounting):

Application of Accounting Standards: AS 4; AS 5; AS 17 and AS 22  

Dissolution of partnership firms including piecemeal distribution of assets; amalgamation of partnership firms; conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

Paper 4 Sec A Income Tax Law

Computation of AMT (related to section 35AD and 10AA) has been added to the topic “Computation of total income and tax liability of individuals”.

Paper 8A Sec B

Some changes have also been made in the Economics for Finance syllabus where a few concepts have been explained in detail and more illustrations have been added.

Topics Removed

The ICAI has made some exclusions in their amended CA inter syllabus, which include: 

Paper 2 Corporate and Other Laws

Some sections of Companies, Act 2013: Prospect and allotment of Securities - Sections 24, 30, 33, 38, & 41; Share Capital and Debentures - 44, 45, 60, 65 & 72; Acceptance of deposits by companies - 75, Registration of charges - 81 & 85.

Paper 3 Cost Accounting 

Certain portions from material, employee cost and incentive schemes, direct expenses and costing of service sectors are no longer in the syllabus.  

Paper 6 Auditing and Assurance 

Some engagement and quality control standards on Auditing as well as some guidance notes have been excluded. 

Paper 8 Sec A Financial Management 

Some parts of capital budgeting have been removed. 

Marks Distribution

In the revised curriculum valid from May 2021, there are 8 papers covering the allotted subjects of CA intermediate. 4 of these papers are further divided into two sections each. You must also take note of the fact that these sections can either be descriptive or objective in nature. 

The table below will help you understand the subject-wise marks distribution along with whether a paper is descriptive or objective. 




Max Marks








Corporate Laws & Other Laws

Corporate Laws


Descriptive - 70%

Objective - 30%

Other Laws



Cost & Management Accounting






Direct Tax Laws


Descriptive - 70%

Objective - 30%

Indirect Tax Laws



Advanced Accounting





Auditing & Assurance



Descriptive - 70%

Objective - 30%


Enterprise Information Systematic & Strategic Management

Enterprise Information Systematic


Descriptive - 70%

Objective - 30%

Strategic Management



Financial Management & Economics for Finance

Financial Management



Economics for Finance



Detailed Breakdown

All subjects of CA intermediate have been categorized into two groups, namely Group 1 and Group 2. 

Here’s a list of CA inter group 1 subjects. Note that each of these papers carries 100 marks in total are the examination duration for each of the papers is 3 hours:

  • Paper 1: Accounting 
  • Paper 2: Corporate Law and Other Laws (Includes Company Law & Other Laws)
  • Paper 3: Cost Accounting and Management Accounting 
  • Paper 4: Taxation, where Section A is Income Tax Law and Section B is Indirect Taxes 

The next section depicts CA inter group 2 subjects:

  • Paper 5: Advanced Accounting
  • Paper 6: Auditing and Assurance 
  • Paper 7: Enterprise Information Systems and Strategic Management 
  • Paper 8: Financial Management and Economics for Finance

Let’s give you a detailed breakdown of the topics in each paper.  

Paper 1: Accounting

Accounting sits at the core of the CA profession. As the 2nd level of a course dedicated to training students to obtain advanced knowledge in professional accounting, CA Inter gives a lot of importance to accounting.  


While the CA Foundation creates a strong basis for the students to develop a clear understanding of the basic frameworks or principles followed in accounting, CA inter delves into the subject more deeply. This is evident from the fact that CA inter syllabus covers the subject in two papers — Paper 1 (Accounting) and Paper 5 (Advanced Accounting).  


The paper 1 Accounting aims to help candidates gain the skills to apply Accounting standards to various events and transactions relevant while preparing and presenting financial statements of different business entities. It also focuses on enhancing the students’ knowledge of special transactions and special types of accounting.


What the paper covers:


  • Process of formulation of Accounting Standards including Indian ASS (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve-outs
  • Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards
  • Applications of Accounting Standards:
  • Disclosure of Accounting Policies
  • Valuation of Inventories
  • Cash Flow Statements
  • Contingencies and Events occurring after the Balance Sheet Date
  • Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
  • Property, Plant and Equipment
  • The Effects of Changes in Foreign Exchange Rates
  • Accounting for Government Grants
  • Accounting for Investments
  • Borrowing Costs
  • Segment Reporting
  • Accounting for Taxes on Income


  • Company Accounts
  • Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement
  • Managerial Remuneration
  • Accounting for tax: Concept of deferred tax asset and deferred tax liability in line with AS 22 “Accounting for Taxes”
  • Profit (Loss) before incorporation
  • Accounting for bonus issue and right issue
  • Redemption of preference shares
  • Redemption of debentures


  • Accounting for Special Transactions
  • Investment
  • Insurance claims for loss of stock and loss of profit
  • Hire – purchase and Instalment sale transactions


  • Special Types of Accounting 
  • Departmental Accounting
  • Accounting for Branches including foreign branches
  • Accounts from Incomplete Records

Note: If any new Accounting standards are issued or previous ones withdrawn, or there are any related announcements and revisions made, inclusions/exclusions will be made in the new accounting syllabus for CA intermediate accordingly.

Paper 2: Corporate and Other Laws

A large number of businesses today are incorporated as corporate entities. Laws governing these entities are integral to their operations and actions they undertake such as procuring funds, raising capital, purchase of essential goods, etc.  

In the CA foundation course, students are acquainted with business laws that regulate the activities of business establishments and are taught the basics of communicating and reporting their observations in a professional setting with clarity and accuracy. CA Inter builds on that knowledge and further prepares the students to work in the corporate field. It provides them with sound knowledge and skills in evaluating and applying corporate law and other laws to practical situations with full confidence. This paper is divided into two parts — Corporate Law (part 1) and Other Laws (part 2). 

Part I: Company Law

The paper aims to help the students gain a deeper knowledge of the provisions of the company law and develop the required skills to apply the same in real-world scenarios.

What does the paper cover?

The Companies Act, 2013 – Sections 1 to 148 

  1. Preliminary
  2. Incorporation of Company and Matters Incidental thereto
  3. Prospectus and Allotment of Securities
  4. Share Capital and Debentures
  5. Acceptance of Deposits by companies
  6. Registration of Charges
  7. Management and Administration
  8. Declaration and Payment of Dividend
  9. Accounts of Companies
  10.  Audit and Auditors

Note: All existing provisions of the Companies Act, 1956 are part of the syllabus until any provision is replaced by corresponding or new provisions of the Companies Act, 2013. In such cases, inclusions/exclusions will be made accordingly. 

Part II: Other/Allied Laws

The aim of the paper is to help the students understand the provisions of selected legislation and gain the skills to apply the same to real-world cases. The paper also focuses on building a sound understanding of the rules by which the relevant statutes can be interpreted. 

What the paper covers:

  • The Indian Contract Act, 1872
  • The Negotiable Instruments Act, 1881
  • The General Clauses Act, 1897
  • Interpretation of statutes

Note: When/if any legislations are replaced by new legislations or simply cease to exist, the CA intermediate syllabus will reflect the changes in the form of specific inclusions/exclusions.

Paper 3: Cost and Management Accounting

One of the main goals and motivations of a business entity is to remain profitable. Increasing sales and reducing production costs are ways to boost profits. As such, effective management of cost is key to the survival and success of a business. Through Paper 3 Cost and Management Accounting, the CA inter syllabus introduces students to this very crucial aspect that’s more important than ever in the progressively competitive business landscape. 

The paper aims to help candidates understand the basic concepts involved in the cost and management accounting and how those concepts apply to decision making with regards to optimum financial performance by an entity. After completing this paper, you’ll gain the knowledge of concepts that deeply influence the organizational policies of various business entities as well as how they are applied. 

What the paper covers:

  • Overview of Cost and Management Accounting
  • Introduction to Cost and Management Accounting
  • Elements of cost and preparation of cost sheet
  • Ascertainment of cost and cost accounting system 
  • Material Cost
  • Employee Cost
  • Overheads
  • Concepts of activity-based costing 
  • Recoding and accounting of costs
  • Methods of Costing 
  • Single output/Unit Costing 
  • Job costing 
  • Batch costing 
  • Contract costing 
  • Process/Operation costing 
  • Costing of service sectors 
  • Cost Control and Analysis 
  • Standard costing
  • Marginal costing 
  • Budget and budgetary control

Paper 4: Taxation

Because taxes form such a vital part of the overall economics of business management, it puts CA professionals in the position to carry out a wide range of tax-related tasks for a business entity. From preparing the returns, representing a tax assessee before authorities to playing an advisory role, and auditing complex cases, the financial expertise of CAs is appreciated to the fullest in many areas. 

Paper 4 Taxation of the CA inter syllabus is designed to build the students’ proficiency in both Direct taxes and Indirect taxes. 

The aim of this paper is to help students get an in-depth understanding of the provisions of income tax law and laws pertaining to goods and services tax. The paper also focuses on giving students the requisite practical skills for real-life applications. 

In addition, the students are expected to stay updated with the latest provisions and the highly evolving tax structure of the country to apply the knowledge gained in this paper to practical scenarios with confidence.

What the paper covers:

Section A – Income Tax Laws

  • Basic concepts
  • Residential status and scope of total income
  • Incomes that do not form part of total income (other than charitable trusts and institutions, political parties, and electoral trusts) 
  • Heads of income and the provisions governing the computation of income under different heads 
  • Income of other persons included in assesses total income
  • Aggregation of income: set-off, or carry forward and set-off of losses
  • Deductions from gross total income 
  • Computation of total income and tax liability of individuals 
  • Advance tax, tax deduction at source, and introduction to tax collection at source 
  • Provisions for filing return of income and self-assessment

Section B – Indirect Taxes 

  • Concept of indirect taxes
  • Goods and service tax (GST) laws

Note: Any amendments made in the provisions of the Income-tax Law and Goods and Services Tax (GST) laws covered in this paper will reflect in the form of inclusions/exclusions in its syllabus. The changes in the syllabus may also arise due to the changes made in the annual Finance Act.

Paper 5: Advanced Accounting

We have already expounded on the importance of accounting for CA students while discussing Paper 1. The presence of another accounting paper in the CA inter syllabus shows that if there is any subject that ICAI deems fit for such detailed treatment, it is accounting. 

Advanced Accounting builds on the knowledge learned in the CA Foundation course and CA inter Paper 1 Accounting. This paper also covers additional accounting standards that weren’t covered in Paper 1 and gives students a deeper insight through tackling advanced concepts of Company Accounts and Partnership Accounts. 

Paper 5 Advanced Accounting is also vital in terms of preparing you with the knowledge required to study Paper 1 (Financial Reporting) of CA Final, as IndAs form a big chunk of that paper. 

The paper aims to help students gain the skills to apply specific Accounting Standards and legislations to various events and transactions related to preparing and presenting financial statements of business entities. The paper also offers insights into financial reporting and regulatory requirements of banks and NBFCs.

What the paper covers:

  • Application of accounting standards
  • Special aspects of company accounts
  • Reorganization and liquidation of companies 
  • Banking companies, non-banking financial companies and regulatory requirements thereof
  • Consolidated financial statements 
  • Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership

Note: If any new Accounting standards are issued or previous ones withdrawn, or there are any related announcements and revisions made, inclusions/exclusions will be made in the AS related syllabus of the paper.

Paper 6: Auditing and Assurance

In the professional world, auditing is possibly one of the key areas where the skills and expertise of a Chartered Accountant really shine through. CAs are valued for their specialized training, proficiency, and sound judgment in ensuring that the financial statements are prepared and presented by entities in compliance with the recognized accounting principles, standards, and legal provisions and in a true and fair manner.

Paper 6 of the CA inter syllabus acquaints students with the basic auditing concepts and prepares them for CA Final Paper 3 (Advanced Auditing and Professional Ethics) where the subject is handled in-depth.  

The paper aims to help students acquire a conceptual understanding of auditing as well as the necessary skills pertaining to auditing procedures and techniques to be applied to real-world audit and attestation practices.

What the paper covers:

  • Nature, Objective, and Scope of Audit
  • Audit Strategy, Audit Planning, and Audit Programme 
  • Audit Documentation and Audit Evidence 
  • Risk Assessment and Internal Control
  • Fraud and Responsibilities of the Auditor in this Regard
  • Audit in an Automated Environment
  • Audit Sampling
  • Analytical Procedure
  • Audit of Items of Financial Statements
  • The Company Audit
  • Audit Report
  • Audit of Banks
  • Audit of Different Types of Entities

Note: Any amendments in the Companies Act, 1956, changes in Standards on Auditing/Guidance Notes/Statements, or any relevant new legislation will reflect on the syllabus of this paper in the form of inclusions/exclusions.

Paper 7: Enterprise Information Systems and Strategic Management

With businesses increasingly adopting digital, a CA professional needs to be equipped with the understanding of computer-based information systems and related automation, and how they influence the presentation and reporting of financial information, along with relevant risks and controls. 

In an era of cut-throat global competition, strategic management allows businesses to survive and thrive by helping them develop goals, objectives, and practical roadmaps to reach them in a systematic manner. With their skills and expertise bleeding into many key areas of business management and operations, a Chartered Accountant plays a precious role in assisting business entities to utilize resources effectively, improve profitability and performance, and meet business goals.   

Paper 7 (Enterprise Information Systems and Strategic Management) of the CA inter syllabus strengthens the student’s knowledge and skills in the above areas and more.

The paper is divided into two sections. 

Section A aims to help students gain an understanding of Information Systems and how they impact organizational processes, risks and controls.

Section B is focused on providing knowledge of strategic management concepts and practices, as well as help the students gain the skills to apply the same in real-life business situations. 

Section A – Enterprise Information Systems 

  • Automated Business Processes
  • Financial and Accounting Systems
  • Information Systems and Its Components
  • E-Commerce, M-Commerce and Emerging Technologies
  • Core Banking Systems

Section B – Strategic Management  

  • Introduction to Strategic Management
    • Business Policy
    • Meaning and Nature of Strategic management
    • Business Strategy
    • Strategic Levels in Organizations
    • Strategic Management in Government and Not-for-profit organization
  • Dynamics of Competitive Strategy
    • Competitive Landscape
    • Strategic Analysis
    • Industry and Competitive Analysis
    • Core Competence
    • Competitive Advantage
    • Internal and External Analysis
    • SWOT Analysis
    • Globalization
  • Strategic Management Process
    • Strategic Planning
    • Strategic Intent – Vision, Mission and Objectives
    • Strategy Formulation
  • Corporate Level Strategies
    • Concepts and Nature of Corporate Strategy
    • Strategic Alternatives at Corporate Level
    • Stability
    • Growth/Expansion
    • Business Combinations –Merger and Acquisition
    • Strategic Alliances
    • Retrenchment/Turnaround
    • Combination
  • Business Level Strategies
    • Competitive Strategies at Business Level
    • Michael Porter’s Generic Strategies
    • Best-Cost Provider Strategy
  • Functional Level Strategies
    • Marketing Strategy
    • Financial Strategy
    • Operations Strategy
    • Human Resource Strategy
    • Research and Development
  • Organisation and Strategic Leadership
    • Organisation Structure
    • Strategic Business Unit
    • Strategic Leadership
    • Strategy Supportive Culture
    • Entrepreneurship and Intrapreneurship
  • Strategy Implementation and Control
    • Strategy Implementation
    • Strategic Change
    • Strategic Control
    • Strategy Audit
    • Business Process Reengineering
    • Benchmarking

Paper 8: Financial Management and Economics for Finance

Finance is the fuel that powers a business, while financial economics is a special branch of economics that deals with commercial activities and transactions and how they are affected by the local and global markets. 

CA professionals, especially those who see themselves in consultancy, tax, and auditing-related roles, need to have a solid understanding of financial management strategies, various key financial decisions made in a business entity, and how finance relates to the overall functioning of the organization, among other concepts. 

Paper 8 Financial Management and Economics for Finance in CA inter syllabus not only equips students with the relevant topics but also prepares them for CA Final Paper 2 Strategic Financial Management. 

CA Inter Paper 8 has two sections. Section A is dedicated to various aspects of Financial Management, along with its practical application. 

Section B is aimed at helping students understand Economics conceptually and theoretically, in the context of Finance, while also equipping them with necessary skills for applying the knowledge to real-world scenarios.

Section A: Financial Management

  • Financial Management and Financial Analysis
    • Introduction to Financial Management Function
    • Objective and scope of financial management
    • Role and purpose
    • Financial management environment
    • Functions of finance executives in an organization
    • Financial distress and insolvency
  • Financial Analysis through Ratios
    • Users of the financial analysis
    • Sources of financial data for analysis
    • Calculation and Interpretation of ratios: analysing liquidity, analysing leverage, analysing solvency, analysing efficiency/ activity, analysing profitability
    • Limitations of ratio analysis
  • Financing Decisions
    • Sources of Finance
      • Different Sources of Finance, Characteristics of different types of long-term debt and equity finance, Method of raising long term finance
      • Different Sources of short-term Finance
      • Internal fund as a source of finance
      • International sources of finance
      • Other sources of finance- Sale and leaseback, Convertible debt, Venture capital, Grants etc.
    • Cost of Capital
      • Significance of cost of capital
      • Factors of cost of capital
      • Measurement of costs of individual components of capital
      • The weighted average cost of capital (WACC)
      • The marginal cost of capital
      • Effective Interest rate
    • Capital Structure Decisions
      • Significance of capital structure
      • Determinants of capital structure
      • Capital structure planning and designing
      • Designing of optimum capital structure
      • Theories of Capital Structure and value of the firm- relevancy and Irrelevancy of capital structure
      • EBIT- EPS Analysis, Breakeven- EBIT Analysis
      • Under/ Over Capitalisation
    • Leverages
      • Types of Leverages- Operating, Financial and Combined
      • Analysis of leverages
  • Capital Investment and Dividend Decisions
    • Capital Investment Decisions
      •  The objective of capital investment decisions
      • Methods of Investment appraisal: Payback period, Discounted payback period, Accounting Rate of Return (ARR), Net Present Value (NPV) – The meaning of NPV, Strengths and limitations of NPV method, The working capital adjustment in an NPV analysis, Capital rationing, Equivalent Annual Costs, Internal Rate of return (IRR)- Limitations of the IRR method, Multiple IRRs, Modified Internal Rate of Return (MIRR)- Definition and explanation of MIRR, The process for calculating MIRR, Strengths of the MIRR approach, Profitability Index
    • Adjustment of Risk and Uncertainty in Capital Budgeting Decision
      • Probability Analysis
      • Certainty Equivalent Method
      • Risk-Adjusted Discount Rate
      • Scenario Analysis
      • Sensitivity Analysis
    • Dividend Decisions
      • Basics of Dividends
      • Forms of dividend
      • Determinants of dividend
      • Relevancy and Irrelevancy of Dividend Policies- Traditional Approach, Walter’s model, Gordon’s model, Modigliani and Miller (MM) Hypothesis
  • Management of Working Capital
    • The management of working capital- Liquidity and Profitability
    • The Working capital financing decisions- Primary and Secondary Sources of Liquidity
    • The working Capital Cycle (operating Cycle), Effectiveness of Working Capital based on its operating and cash conversion cycles
    • Assessment of working capital requirement
    • Management of Accounts Receivables (Debtors)
    • Factoring and Forfaiting
    • Management of Accounts Payables (Creditors)
    • Management of Inventory
    • Management of Cash, Treasury management
    • Banking norms of working capital finance

Section B: Economics for Finance

  • Determination of National Income
    • Macro-Economic Aggregates and Measurement of National Income
    • The Keynesian Theory of Determination of National Income
  • Public Finance
    • Fiscal functions: An Overview.
    • Market Failure
    • Government Interventions to Correct Market Failure
    • Fiscal Policy
  • The Money Market
    • The Concept of Money Demand: Important Theories of Demand for Money
    • The Concept of Money Supply
    • Monetary Policy
  • International Trade
    • Theories of International Trade
    • Trade Policy – The Instruments of Trade Policy
    • Trade Negotiations
    • Exchange Rates and their economic effects
    • International Capital Movements: Foreign Direct Investment

To download the complete syllabus and list of all CA intermediate subjects, click here.


  1. What are the subjects in CA Intermediate Group 1?

There are four subjects in the CA Intermediate Group 1, namely:

Paper 1: Accounting 

Paper 2: Corporate Law and Other Laws (Includes Company Law & Other Laws)

Paper 3: Cost Accounting and Management Accounting 

Paper 4: Taxation, where Section A is Income Tax Law and Section B is Indirect Taxes

2. What are the subjects in CA Intermediate Group 2?

There are four subjects in the CA Intermediate Group 1, namely:

Paper 5: Advanced Accounting

Paper 6: Auditing and Assurance 

Paper 7: Enterprise Information Systems and Strategic Management 

Paper 8: Financial Management and Economics for Finance

3. Is there math in CA Intermediate?

Mathematics is not included in the subjects of CA Intermediate, per se. However, the list of CA intermediate subjects does have Costing and topics such as financial analysis through ratios in it, which requires some mathematical skills.

4. How many subjects have MCQs at CA Inter Level?

The four following papers of the CA inter syllabus have multiple-choice questions (MCQ):

      • Paper 2 Corporate and Other Laws
      • Paper 4 Taxation
      • Paper 6 Auditing and Assurance
      • Paper 7 Enterprise and Information Systems and Strategic Management

5. Do MCQs carry negative Marks?

Fortunately, there is no negative marking for wrong answers.

6. Can a student write both groups independently or is it compulsory to write both groups together?

In short, both scenarios are perfectly possible! 

A student can, of course, write both groups at one go. But they are also permitted to attempt both groups separately if they wish to do so. So, the decision to appear for either both groups or one group at a time rests on you. You can take the call depending on your level of preparation and other circumstances.