CA Final Course - A Complete Guide
CA Final examination conducted by The Institute of Chartered Accountants of India (ICAI) for the Chartered Accountancy course
Chartered Accountancy is a national exam, and individuals from all over the country, as well as from outside India, are eligible to apply for the same. The Institute of Chartered Accountants of India organizes this examination. CA Final is the last level of CA course and it consist of two groups. Four papers make up Group I, whereas the other three papers and one elective paper make up Group II. Students can choose one of the six alternatives available in the Elective Paper before applying for CA Final exams. Before taking the CA final exam, candidates must complete a three- year articleship under a practising Chartered Accountant. During the last two years of articleship, the student must also complete Advanced Integrated Course on Information Technology and Soft Skills (AICITSS). The CA final exam can be taken during the final six months of articleship training, including any excess leaves. Students who pass the CA Final exam will be eligible to take the membership of ICAI.
Candidates who have passed the CA Intermediate Examination or Professional Education Examination—II/PCE/IPCE/Intermediate (IPC) Examination are eligible to take the CA Final Registration
To manage the registration procedure, the ICAI maintains a centralised Self Service portal. A student can log in and complete registration on the Self Service Portal using the assigned password and registration ID. The essential details are automatically updated in the form, just as they were during CA Intermediate registration. Physical documents are not required because students must submit self-attested documents online through the Self Service Portal. After completing the registration process, a student can pay the fee using Net Banking, Debit Card, or Credit Card and students will be given directions on how to order study materials through the Centralised Distribution System Portal, which can be found at https://icai-cds.org/.
Documents Required
- Signature of the student
- Photo (Passport size)
- Mark sheets of CA IPCC/Intermediate exams.
- Mark sheets of CA Foundation/CPT (not applicable to the direct entry route students)
- Attested Certificate of Special Category (SC/ST/OBC/PwD)
- Certificate of Nationality
The following are the registration fees for the CA final:
- For Indian students: Rs. 22,000/-
- For students outside India: $ 1,100
Group 1
Paper 1: Financial Reporting
Paper 2: Strategic Financial Managment
Paper 3: Advanced Auditing and Professional Ethics
Paper 4: Corporate and Economic Laws
Group 2
Paper 5: Strategic Cost Management and Performance Evaluation
Paper 6: Elective Paper (Any one to be chosen from the list )
6A: Risk Management
6B: Financial Services & Capital Markets
6C: International Taxation
6D: Economic Laws
6E: Global Financial Reporting Standards
6F: Multidisciplinary Case Study
Paper 7: Direct Tax Laws & International Taxation
Paper 8: Indirect Tax Laws
You can also practise with the new CA Final question paper, mock test papers, and revision test papers by clicking on the link below.
https://www.icai.org/post/final-course-new-scheme-of-education-and-training
Prerequisites
- Must be registered with the Board of Studies for the CA Final
- Should have completed the prescribed period of 3 or 3½ years of articleship training
- Should have completed Advanced Integrated Course on Information Technology and Soft Skills (AICITSS)
CA Final Examination Fee
| Nationality | Single Group | Both Groups |
|---|---|---|
| Indian Centres | Rs 1800/- | Rs 3300/- |
| Abu Dhabi, Dubai, Muscat and Doha ($) | $325 | $550 |
| Kathmandu (INR) | Rs 2200/- | Rs 4000/- |
If a student wishes to appear for the CA final exam, then the certificate of service should be uploaded on the official website at the time of making the application for exam. CA final students will be unable to submit the examination form unless the declaration certificate or certificate of service is uploaded.
A student must achieve a minimum 40% to pass in each subject and a minimum of 50% in aggregate to pass in each group. If a student is unable to clear a group, then all papers of that group should be attempted again. If a student receives more than 60 % in a subject during a failed attempt, she or he will be excluded from taking the exam for that subject for the next three attempts.
The registration for the Final Course is valid for a period of five years. A student should renew it after 5 years for another five years by paying Rs 500. There is no restriction on the number of attempts.
CA Final Course - A Complete Guide
The CA Foundation is an introductory exam for students interested in pursuing the CA Course. ICAI has made strides in identifying the needs and updating the old course to make it more appropriate. The CA Foundation course was previously known as CPT. In comparison to the old syllabus, the new CA foundation syllabus is considered to be more competitive and difficult. For all of the CA course exams, the same tone has been set. CA Foundation exams take place twice a year, in June and December.
After clearing the Class 10th examinations, students can preliminarily register for the CA Foundation course with the ICAI. This provisional admission will only be regularised if the individual passes the Class 12th examinations.
A candidate must fill out the online registration form accessible on the ICAI website to enrol for the CA Foundation Course. The CA Foundation course registration is only valid for three years. It can be revalidated an unlimited number of times for another three years by paying minimal fees set by the council. December/June is the deadline to register for the May/Nov examination sessions.
- Paper 1: Principles and Practices of Accounting
- Paper 2: Business Law & Business Correspondence and Reporting
- Paper 3: Business Mathematics and Logical Reasoning & Statistics
- Paper 4: Business Economics & Business and Commercial Knowledge
CA Foundation exams are held in May and November. ICAI announces the CA Foundation exam schedule for the May/November term of examination in January/July.
After paying the required examination fees, you can fill out the CA Foundation Exam form on the ICAI website.You can get the admit card for the CA Foundation exam three times from the ICAI website.
Paper-1: Principles and Practice of Accounting and Paper-2: Business Laws and Business Correspondence and Reporting are subjective, consisting of theory and practical questions, whereas Paper-3: Business Mathematics, Logical Reasoning, and Statistics and Paper-4: Business Economics and Business and Commercial Knowledge are objective, consisting of multiple-choice questions.According to the new scheme, a negative marking of 0.25 will remain in the objective papers.
You can also practise with the new CA foundation question paper, mock test papers, and revision test papers by clicking on the link below.
https://www.icai.org/post/foundation-course
Candidates must achieve a minimum of 40% in each paper and a total of 50% in all four papers to pass the CA Foundation exam.
Direct admission for the CA Intermediate is available to commerce graduates with atleast 55% and other graduates with at least 60 % ie, Students having a degree are exempted from the requirement of clearing the CA Foundation
Playlist
GROUP I
PAPER 1: FINANCIAL REPORTING (100 MARKS)
Objective
- To acquire the ability to integrate and solve problems in practical scenarios on Indian Accounting Standards (Ind AS) for deciding the appropriate accounting treatment and formulating suitable accounting policies.
- To gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards (Ind AS) while preparing and presenting the financial statements.
- To develop the expertise to prepare financial statements of group entities which includes subsidiaries, associates and joint arrangements based on Indian Accounting Standards (Ind AS).
- To develop understanding of certain Accounting Standards and solve problems in practical scenarios where treatment is different in both the standards.
MODULE 1
Chapter 1: Introduction to Indian Accounting Standards
Chapter 2: Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)
Chapter 3: Ind AS on Presentation of General Purpose Financial Statements
Chapter 4: Ind AS on Measurement based on Accounting Policies
Chapter 5: Ind AS 115 “Revenue from Contracts with Customers”
MODULE 2
Chapter 6: Ind AS on Assets of the Financial Statements
Chapter 7: Other Indian Accounting Standards
MODULE 3
Chapter 8: Ind AS on Liabilities of the Financial Statements
Chapter 9: Ind AS on Items impacting the Financial Statements
Chapter 10: Ind AS on Disclosures in the Financial Statements
Chapter 11: Accounting and Reporting of Financial Instruments
MODULE 4
Chapter 12: Ind AS 103 “Business Combinations”
Chapter 13: Consolidated and Separate Financial Statements of Group Entities
Chapter 14: Ind AS 101 “First-time Adoption of Ind AS”
Chapter 15: Analysis of Financial Statements
Chapter 16: Professional and Ethical Duty of a Chartered Accountant
Chapter 17: Accounting and Technology
PAPER 2: ADVANCED FINANCIAL MANAGEMENT (100 MARKS)
Objective
To acquire the ability to apply financial management theories and techniques in strategic decision making.
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Chapter 1: Financial Policy and Corporate Strategy
Chapter 2: Risk Management
Chapter 3: Advanced Capital Budgeting Decisions
Chapter 4: Security Analysis
Chapter 5: Security Valuation
Chapter 6: Portfolio Management
Chapter 7: Securitization
Chapter 8: Mutual Funds
Chapter 9: Derivatives Analysis and Valuation
Chapter 10: Foreign Exchange Exposure and Risk Management
Chapter 11: International Financial Management
Chapter 12: Interest Rate Risk Management
Chapter 13: Business Valuation
Chapter 14: Mergers, Acquisitions and Corporate Restructuring
Chapter 15: Startup Finance
PAPER 3: ADVANCED AUDITING, ASSURANCE AND (100 MARKS) PROFESSIONAL ETHICS
Objective
- To gain the ability to analyse current auditing practices and procedures and apply them in auditing engagements.
- To develop the ability to solve cases relating to audit engagements.
MODULE 1
Chapter 1: Quality Control
Chapter 2: General Auditing Principles and Auditors Responsibilities
Chapter 3: Audit Planning, Strategy and Execution
Chapter 4: Materiality, Risk Assessment and Internal Control
Chapter 5: Audit Evidence
Chapter 6: Completion and Review
Chapter 7: Reporting
MODULE 2
Initial Pages
Chapter 8: Specialised Areas
Chapter 9: Audit-related Services
Chapter 10: Review of Financial Information
Chapter 11: Prospective Financial Information and Other Assurance Services
Chapter 12: Digital Auditing & Assurance
Chapter 13: Group Audits
Chapter 14: Special Features of Audit of Banks & Non-Banking Financial Companies
MODULE 3
Chapter 15: Overview of Audit of Public Sector Undertakings
Chapter 16: Internal Audit
Chapter 17: Due Diligence, Investigation & Forensic Audit
Chapter 18: Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance
Chapter 19: Professional Ethics & Liabilities of Auditors
Auditing Pronouncements
GROUP II
PAPER 4: DIRECT TAX LAWS & INTERNATIONAL (100 MARKS) TAXATION
Objective
- To acquire the ability to analyse and interpret the provisions of direct tax laws and recommend optimal solutions to practical problems in a tax efficient manner; and
- To apply the provisions of direct tax laws and the concepts, principles and provisions of international taxation to recommend solutions to issues involved in cross border transactions.
Module-1
Chapter 1: Basic Concepts
Chapter 2: Incomes which do not form part of Total Income
Chapter 3: Profits and Gains of Business or Profession
Chapter 4: Capital Gains
Chapter 5: Income from Other Sources
Chapter 6: Income of Other Persons included in Assessee’s Total Income
Chapter 7: Aggregation of Income, Set Off or Carry Forward of Losses
Chapter 8: Deductions from Gross Total Income
Module-2
Chapter 9: Assessment of Various Entities
Chapter 10: Assessment of Trusts and Institutions, Political Parties and Other Special Entities
Chapter 11: Tax Planning, Tax Avoidance and Tax Evasion
Chapter 12: Taxation of Digital Transactions
Module-3
Chapter 13: Deduction, Collection and Recovery of Tax
Chapter 14: Income Tax Authorities
Chapter 15: Assessment Procedure
Chapter 16: Appeals and Revision
Chapter 17: Dispute Resolution
Chapter 18: Miscellaneous Provisions
Chapter 19: Provisions to Counteract Unethical Tax Practices
Chapter 20: Tax Audit and Ethical Compliances
Questions based on Significant Select Cases
Module-4
Chapter 21: Non Resident Taxation
Chapter 22: Double Taxation Relief
Chapter 23: Advance Rulings
Chapter 24: Transfer Pricing
Chapter 25: Fundamentals of BEPS
Chapter 26: Application and Interpretation of Tax Treaties
Chapter 27: Overview of Model Tax Conventions
Chapter 28: Latest Developments in International Taxation
PAPER 5: INDIRECT TAX LAWS (100 MARKS)
Objective
- To acquire the ability to analyse and interpret the provisions of direct tax laws and recommend optimal solutions to practical problems in a tax efficient manner; and
- To apply the provisions of direct tax laws and the concepts, principles and provisions of international taxation to recommend solutions to issues involved in cross border transactions.
PART I: GOODS AND SERVICES TAX (80 MARKS)
To acquire the ability to analyse and interpret the provisions of the goods and services tax law and recommend solutions to case scenarios.
PART II: CUSTOMS & FTP (20 MARKS)
To develop an understanding of the customs laws and foreign trade policy and acquire the ability to analyse and interpret the provisions of such laws/concepts.
Part-I: Goods and Services Tax
Module-1
Chapter-1: Supply under GST
Chapter 2: Charge of GST
Chapter 3: Place of Supply
Chapter 4: Exemptions from GST
Chapter 5: Time of Supply
Chapter 6: Value of Supply
Module-2
Chapter 7: Input Tax Credit
Chapter 8: Registration
Chapter 9: Tax Invoice, Credit and Debit Notes
Chapter 10: Accounts and Records; E-way Bill
Chapter 11: Payment of Tax
Chapter 12: Electronic Commerce Transactions
Chapter 13: Returns
Module-3
Chapter 14: Import and Export Under GST
Chapter 15: Refunds
Chapter 16: Job Work
Chapter 17: Assessment and Audit
Chapter 18: Inspection, Search, Seizure and Arrest
Chapter 19: Demands and Recovery
Chapter 20: Liability to Pay in Certain Cases
Chapter 21: Offences and Penalties and Ethical Aspects under GST
Chapter 22: Appeals and Revision
Chapter 23: Advance Ruling
Chapter 24: Miscellaneous Provisions
Part-II: Customs & FTP
Module-4
Chapter 1: Levy of and Exemptions from Customs Duty
Chapter 2: Types of Duty
Chapter 3: Classification of Imported and Export Goods
Chapter 4: Valuation under the Customs Act, 1962
Chapter 5: Importation and Exportation of Goods
Chapter 6: Warehousing
Chapter 7: Refund
Chapter 8: Foreign Trade Policy
PAPER 6: INTEGRATED BUSINESS SOLUTIONS (100 MARKS)
Objective
To analyze and integrate the concepts, principles and provisions of accounting, auditing, taxation, corporate laws, finance and business strategy and management to address issues in practical case scenarios.
Case Studies
Case Study 1
Case Study 2
Case Study 3
Case Study 4
Case Study 5
Case Study 6
Case Study 7
Case Study 8
Case Study 9
Case Study 10
Case Study 11
Case Study 12
Case Study 13
Case Study 14
Case Study 15
Case Studies in February, 2024 Students’ Journal
Case Study 1 & 2
Case Study 3
FAQ
Yes. With proper planning and hard work students can well prepare for his CA Final exams. In such a way they can complete a one-time revision of all eight subjects.
There is no limit for the number of attempts for CA final exam. Initial registration for CA Final Course is valid for 5 years. After 5 years, a student should revalidate it for another 5 years.
It is possible to pass both group 1 and group 2 ie, 8 papers in same attempt. It can be made possible only with constant hard work and right study pattern and methodology. ICAI study materials, Mock Test papers, Revision Test papers, suggested answers and also proper guidance from expert faculties will help you to achieve your dream easily
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