CA Final

CA Final Syllabus for November 2018

CA Final, just one more step to becoming a Chartered Accountant. From the given page you can download your CA Final Syllabus for may 2018.

ICAI CA Final November 2018 Syllabus Download PDF 

CA Final Syllabus for November 2018 is divided into 2 groups

Final Syllabus is further divided into 4 subjects in each group which are as follows –

Group 1

Paper 1: Advanced Accounting

Paper 2: Management Accounting and Financial Analysis

Paper 3: Advanced Accounting

Paper 4: Corporate Laws and Secretarial Practice

Group 2

Paper 5: Cost Management

Paper 6: Management Information and Control Systems

Paper 7: Direct Taxes

Paper 8: Indirect Taxes

Each subject is equal to a CA final course in itself and you have to score 40% in each subject as well as 50% in aggregate of all the subjects.

Besides the below-given syllabus, students should carefully note that relevant developments including the issue of Accounting Standards, Statements on Standard Auditing Practices, Guidance Notes by the institute, amendments in the legislation taken six months before your exam will be applicable in your attempt.

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Group – 1

Paper 1: Advanced Accounting

(One paper – Three hours – 100 marks)

Level of Knowledge: Expert knowledge.

Objectives :(a) To gain a comprehensive understanding of all aspects relating to external financial reporting practices.

(b) To gain expert knowledge of the professional standards, principles, and procedures of accounting, and their application to different practical situations.

Contents :

  1. Accounting Standards and Guidance Notes on various accounting aspects issued by the ICAI and advanced problems based thereon.
  1. Corporate financial reporting – issues a, d problems with special reference to published financial statements.
  1. Consolidated accounts of holding and group companies.
  1. Accounting for amalgamation: Purchase and pooling of interests methods of accounting.
  1. Accounting aspects of corporate restructuring.
  1. Financial reporting in respect of various kinds of financial institutions like mutual funds, non-banking finance companies, merchant bankers, stock brokers.
  1. Fund-based accounting (for a non-profitorganizationn)
  1. Developments in accounting :
  • Interim reporting.
  • Segment reporting.
  • Value-added statement.
  • Economic value – added statement
  • Corporate social reporting.
  • Human resource accounting.
  • Accounting for Intangible Assets
  • Accounting for Financial Instruments.
  • Environmental accounting
  1. Valuation of goodwill and shares.
  1. Comparative study of basic concepts of international accounting standards, US GAAP and standards in India.

Paper 2: Management Accounting and Financial Analysis

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert knowledge.

Objectives :(a) To gain expert knowledge in respect of management accounting, financial planning and financial services sector in terms of products, procedures, markets and reg­ulatory framework.

(b) To understand the issues involved in and the features of financial management in the global context.

Contents :

  1. Project planning and capital budgeting: preparation of project report; financial projections; sensiti­vity analysis in capital budgeting; Impact of inflation on capital budgeting decisions, capital rationing, risk analysis in capital budgeting and evaluation of risky investments; social cost-benefit analysis; simulation and decision tree analysis.
  2. (a) Types of financing: project financing; intermediate and long-term financing; negotiating term loans with banks and financial institutions; appraisal of term loans by financial institutions in India, lease financing.
    (b) Special problems relating to Financing and Management of small and medium enterprises.
  3. (a) Introduction to the capital market in India includ­ing depositories.
    (b) Introduction to capital market instruments including options (Option Pricing Theory), futures, and derivatives; risk-return relationship, capital asset pricing model (CAPM).
  4. Financial services in India including merchant banking, portfolio management; credit rating agencies, consumer finance.
  5. Mutual funds: operations and regulations.
  6.  (a) Business valuations
    (b) Mergers, Acquisitions, and corporate restructuring
  7. Foreign collaborations and joint ventures.
  8. Introduction to international financial manage­ment including raising of capital abroad (ADRs, GDRs, ECB.).
  9. Foreign exchange exposure and risk management; foreign exchange markets and dealings therein.
  10. Money markets and their operations.
  11. Special Features of Financial Management in Public Sector Undertakings.
  12. Dividend decisions: dividend policy; its determinants.

Paper 3: Advanced Auditing

(One paper – Three hours – 100 marks)

Level of Knowledge: Expert 

Objective: To gain expert knowledge of current auditing practices and procedures and apply them in auditing engagements.

Contents :

  1. Audit strategy, planning , and programming

Planning the flow of audit work; drafting of reports; audit strategy, planning, programme, and impor­tance of supervision; review of audit notes and working papers; principal’s ultimate responsibility; extent of del­egation; control over the quality of audit work; reliance on the work of other auditor, internal auditor or an expert.

  1. Internal control

Evaluation of internal control procedures; tech­niques including the questionnaire, flowchart; internal audit and external audit, coordination between the two.

  1. Special audit techniques

(a) Selective verification; statistical sampling.

(b) Special audit procedures; witnessing physical verification of assets, direct circularisation of debtors and creditors.

(c) Analytical review procedures.

(d) Improving the efficiency of auditing, systems auditing, risk-based auditing.

  1. Statements/Standards and Guidance Notes.

Generally accepted accounting practices and auditing procedures. Statements on Standard Auditing Practices and Guidance Notes.

  1. Audit of limited companies: Statutory requirements under the Companies Act 1956; Audit of branches; joint audits. Concepts of true and fair and materiality and audit risk in the context of the audit of companies.
  1. Audit reports; qualifications, notes on accounts, the distinction between notes and qualifications, detailed observations by the statutory auditor to the management vis-a-vis obligations of reporting to the members; Special reports on offer documents.
  1. Dividends and divisible profits; financial, legal, and policy considerations with special reference to depreciation. 8. Special points in the audit of public sector companies. Directions of Comptroller and Auditor General under Section 619; Concepts of propriety and efficiency audit.
  1. Rights, duties, and liabilities of auditors; Third party liability – nature and extent.
  1. Audit Committees and Corporate Governance.
  1. Investigation including Due Diligence.
  1. Cost audit, Environmental Audit, Energy Audit.
  1. Audit of public expenditure.
  1. Certificates under the Payment of Bonus Act, import/export control authorities, etc.; Distinction between certificates and reports; specific services to non-audit clients.
  1. Audit under different statutes, viz; income tax, other direct tax laws and indirect taxes.
  1. Special features of the audit of banks, insurance companies, co-operative societies and non-banking financial companies.
  1. Special audit assignments like the audit of bank borrowers, the audit of stock exchange brokers and depositories; Inspection of special entities like banks, financial institutions, mutual funds, stock brokers.
  1. Professional Liability of Auditors: Code of Ethics with special reference to the relevant provisions of The Chartered Accountants Act, 1949 and the Regulations thereunder.
  1. Internal audit, management and operational audit: nature and purpose, organisation, audit programme; behavioural problems; Specific areas of management and operational audit involving a review of internal control, purchasing operations, manufacturing operations, selling and distri­bution, personnel policies, systems and procedures. Aspects relating to the concurrent audit.
  1. Audit under computerised environment: Computer auditing; specific problems of EDP audit, need for review of internal control especially pro­cedure controls and facility controls; techniques of audit of EDP output; use of computers for internal and man­agement audit purposes; test packs, computerised audit programmes; involvement of the auditor at the time of setting up the computer system.

Paper 4: Corporate Laws and Secretarial Practice

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert knowledge.

Objective : To gain expert knowledge of corporate and other allied laws and secretarial practices.

Contents :

  1. The Companies Act, 1956 (Section 209 onwards till end).
  1. The Foreign Exchange Management Act, 1999.
  1. The Monopolies and Restrictive Trade Practices Act, 1969
  1. The Sick Industrial Companies (Special Provisions) Act, 1985
  1. The Securities Contracts (Regulation) Act, 1956.
  1. The Securities and Exchange Board of India Act, 1992, and Guidelines issued thereunder.
  1. Application of Secretarial Procedures and Practices.
  1. Rules of interpretation of Statutes, Deeds, and Documents.

Group-II

Paper 5 : Cost Management

Level of Knowledge: Expert 

Objectives:

To gain expert knowledge of the use of costing data for decision-making and control, and emerging modern cost management concepts.

Contents

  1. Cost concepts in decision-making; Relevant cost, Differential cost, Incremental cost and Opportunity cost.
  2. Objectives of a Costing System; Inventory valuation; Creation of a Database for operational control; Provision of data for Decision-Making.
  3. Marginal Costing; Distinction between Marginal Costing and Absorption Costing; Break-even Analysis, Cost-Volume-Profit Analysis. Various decision-making problems.
  4. Standard Costing and Variance Analysis.
  5. Pricing strategies: Pareto Analysis
  6. Target costing, Life Cycle Costing
  7. Costing of the service sector.
  8. Just-in-time approach, Material Requirement Planning, Enterprise Resource Planning, Total Quality Management and Theory of constraints.
  9. Activity-Based Cost Management, Benchmarking; Balanced Scorecard and Value-Chain Analysis.
  10. Budgetary Control; Flexible Budgets; Performance budgets; Zero-based budgets.
  11. Measurement of Divisional profitability pricing decisions including transfer pricing.
  12. Quantitative techniques for cost management, Linear Programming, PERT/CPM, Transportation problems, Assignment problems, Simulation, Learning Curve Theory.

Paper 6: Management Information and Control Systems

(One paper – Three hours – 100 marks)

Level of Knowledge : Expert Knowledge

Objective : To develop the ability of the students in understanding the concepts involved in managerial information and control systems and systems analysis and in applying the same to business situations.

Contents:

  1. Transaction Processing Systems, Shared processing, Client server and server-centric systems.
  2. Management Information Systems (MIS), Executive Information Systems (EIS) and Decision support systems.
  3. System development life cycle.
  4. Systems analysis and design: Tools & Techniques, detailed design specifications, and documentation; system testing; control over development processes.
  5. Implementation of systems: systems installation, system training, system conversion; post-implementation review.
  6. System Evaluation – Hardware and Software.
  7. System Maintenance – Hardware and Software including viruses.
  8. Computerised systems in Business Applications- financial accounting, management accounting and inventory control. Use of specialised softwares.
  9. Tools: Use of Simple CASE Tools, Analysis of Financial Statements using Digital Technology.
  10. Enterprise Resource Planning (ERP) Packages.
  11. Controls applicable to IT development, system maintenance and changeover.
  12. Information security: Importance and principles of information security, best approaches to implementing information security.
  13. Detection of computer frauds.
  14. Case Studies.
  15. Audit of Information systems.
  16. Cyber Laws.

Paper 7 : Direct Taxes

Level of Knowledge: Expert

Objectives:

  • To gain expert knowledge of the provisions of direct tax laws.
  • To acquire the ability to apply the knowledge of the provisions of laws to various situations in actual practice.

Contents:

  1. The Income Tax Act, 1961
  2. The Wealth Tax Act, 1957

While covering the direct tax laws, students should familiarise themselves with considerations relevant to tax management. These may include tax considerations with regard to specific management decisions, foreign collaboration agreements, international taxation, amalgamations, tax incentives, personnel compensation plans, accounting and other precautions to be observed to maximise tax relief.

PAPER 8 : INDIRECT TAX LAWS

(One paper – Three hours – 100 marks)
Part-I: Goods and Services Tax (75 Marks)
Objective:

To acquire the ability to analyze and interpret the provisions of the goods and services tax law
and recommend solutions to practical problems.
Contents:

1. 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
(i) Constitutional aspects
(ii) Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of
supply including composite and mixed supplies, inter-State supply, intra-State supply,
supplies in territorial waters; Charge of tax; Exemption from tax; Composition levy
(iii) Place of supply
(iv) Time and Value of supply
(v) Input tax credit
(vi) Computation of GST liability
(vii) Procedures under GST – All procedures including registration, tax invoice, credit and
debit notes, electronic way bill, accounts and records, returns, payment of tax including
reverse charge, refund, job work.

(viii) Provisions relating to electronic commerce
(ix) Liability to pay in certain cases
(x) Administration of GST; Assessment and Audit
(xi) Inspection, Search, Seizure and Arrest
(xii) Demand and Recovery
(xiii) Offences and Penalties
(xiv) Advance Ruling
(xv) Appeals and Revision
(xvi) Other provisions

Part-II: Customs & FTP (25 Marks)

Objectives:

(a) To develop an understanding of the customs laws and acquire the ability to analyze and
interpret the provisions of such laws.
(b) To develop an understanding of the basic concepts of foreign trade policy to the extent
relevant to indirect tax laws, and acquire the ability to analyze such concepts.

Contents:

1. Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act,
1975

(i) Introduction to customs law including Constitutional aspects
(ii) Levy of and exemptions from customs duties – All provisions including application
of customs law, taxable event, the charge of customs duty, exceptions to levy of customs
duty, exemption from custom duty
(iii) Types of customs duties
(iv) Classification and valuation of imported and export goods
(v) Officers of Customs; Appointment of customs ports, airports etc.
(vi) Import and Export Procedures – All import and export procedures including special
procedures relating to baggage, goods imported or exported by post, stores
(vii) Provisions relating to coastal goods and vessels carrying coastal goods
(viii) Warehousing
(ix) Drawback
(x) Demand and Recovery; Refund
(xi) Provisions relating to prohibited goods, notified goods, specified goods, illegal
importation/exportation of goods
(xii) Searches, seizure, and arrest; Offences; Penalties; Confiscation and Prosecution
(xiii) Appeals and Revision; Advance Rulings; Settlement Commission
(xiv) Other provisions2

2. Foreign Trade Policy to the extent relevant to the indirect tax laws

(i) Introduction to FTP – legislation governing FTP, salient features of an FTP,
administration of FTP, contents of FTP and other related provisions
(ii) Basic concepts relating to import and export of goods
(iii) Basic concepts relating to export promotion schemes provided under FTP

So, it was all about Ca final syllabus new course for may 2018, you can also download the PDF from given link.

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