The ICAI has announced a new syllabus for the CA Final exams, along with CA foundation and CA intermediate levels, which will come into effect from May 2024. The new syllabus will bring about significant changes in the CA education system, taking into account the evolving needs of the industry and the profession. In this blog, we will discuss the CA Final New Syllabus for the 2024 exams, including the scheme syllabus, subjects, eligibility criteria, and marking scheme.
CA Final Syllabus
The CA New Scheme Syllabus focuses on the practical aspects of the profession, enhancing the skills and knowledge of candidates who aspire to become Chartered Accountants. The syllabus has two groups. Group I consist of four papers, while Group II consists of three papers. Moreover, the new scheme also includes an elective paper, which can be chosen from six subjects.
Subjects in CA Final Syllabus
Paper 1- Financial Reporting
Financial Reporting is an important paper in CA Final New Syllabus. This paper aims to help candidates understand the various financial reporting standards and the accounting framework for corporate entities.
Paper 2- Strategic Financial Management
The Strategic Financial Management paper consists of topics related to financial decision-making, risk management, capital budgeting, and international finance.
Paper 3- Advanced Auditing and Professional Ethics
The paper aims to help students learn auditing skills and ethics. This paper includes topics on audit planning, fraud detection, financial statements, and ethics.
Paper 4- Corporate and Economic Laws
The corporate and Economic Laws paper comprises topics related to corporate laws, securities laws, economic laws, ethics, and governance.
Group II Papers-
Paper 5- Strategic Cost Management and Performance Evaluation
Strategic Cost Management and Performance Evaluation paper cover topics such as cost accounting techniques, strategic decision-making, performance evaluation, and budgeting.
Paper 6- Elective Paper
The Elective Paper is a part of the CA Final New Syllabus to provide candidates with options to specialize in a particular field. Elective subjects at CA final level are Risk Management, Economic Laws, International Taxation, Global Financial Reporting Standards, Financial Services and Capital Markets, and Multidisciplinary Case Studies.
Paper 7- Direct Tax Laws and International Taxation
Direct Tax Laws and International Taxation papers aim to provide candidates with knowledge of direct tax laws applicable in India. So this includes international taxation rules and regulations.
Paper 8- Indirect Tax Laws
The indirect Tax Laws paper consists of topics related to GST, customs laws, service tax, excise duty, and value-added tax.
To be eligible for the CA Final New Syllabus, candidates must have completed the CA Intermediate Exam and have completed the prescribed period of practical training. Candidates must also have applied to the Institute for registration to the CA Final Course.
CA final new syllabus-
ICAI has introduced a new scheme for CA final syllabus, and there are some major changes in it.
- Subjects have been reduced to 06 from 08 subjects, with 03 papers in each group.
- Papers 4 and 5 are a part of the mandatory self-paced modules which students have to clear before CA finals.
- There will be no elective subjects but strategic management with a multi-disciplinary case study.
- Elective subjects, such as capital market and risk management will be part of self-paced modules Set C and D.
Proposed CA Final subjects-
- Financial Reporting
- Advanced Financial Management
- Advanced Auditing and Professional Ethics
- Direct tax laws and international taxation
- Indirect Tax Laws
- Self-paced mandatory module
The marking scheme for the CA Final New Syllabus is designed to assess candidates’ knowledge, skills, and application. Each paper is of 100 marks and students have to score 40% marks in each paper to clear CA final level. Candidates will have the option to carry forward their marks from Group I and Group II for up to 3 attempts.
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The CA Final New Syllabus for the 2024 exams has been designed to focus on practical aspects, enhancing the skills and knowledge of candidates who wish to become Chartered Accountants. The new scheme includes four papers in Group I, three papers in Group II, and an elective paper. The new syllabus provides candidates with opportunities to specialize in a particular field. Eligibility for the exam requires that candidates have completed the CA Intermediate Exam and completed the prescribed period of practical training.
The marking scheme assesses the knowledge, skills, and application of candidates and requires a passing score of 40% on each paper. The CA Final Syllabus will equip candidates with relevant knowledge and skills to meet the challenges of the changing business environment and the evolving needs of the profession.
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