CA Final

CA Final Subjects for Upcoming Exams 2021

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Looking for the CA Final Subjects 2021? Then you have landed on the right page. Here you will get the detailed list of CA final subjects for upcoming exams. 

CA Final, last step to becoming a Chartered Accountant. From this article you can go through the detailed new course CA final subjects 2021 and can also go through the CA final syllabus 2021.

The CA final Subjects May 2021 is divided into two groups and further, it gets divided into eight subjects, in which one subject is optional. 

The CA final new syllabus paper consists of a total of 100 marks and to clear the CA final exams students need to score 40% in each subject and 50% aggregate overall. 

From this article, students can check out the new course C. A final subject for May 2021 examinations. Students can also go thoroughly with the CA final syllabus and many more updated information about the CA final course

CA Final Subjects List 2021 (New Course)

The CA final Syllabus is further divided into 4 subjects in each group which are as follows –

Group I

Group II

Each subject is very important to clear in itself and students have to score 40% in each subject as well as 50% in aggregate of all the subjects.

Besides the given below CA Final subjects is in a detailed format, 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.

Paper 1: Financial Reporting (100 Marks)

1Framework for Preparation and Presentation of Financial Statements 
2Application of Indian Accounting Standards (Ind AS) 
3Indian Accounting Standards on Group Accounting
4Accounting and Reporting of Financial Instruments (as per Ind AS)
5Analysis of Financial Statements 
6Integrated Reporting 
7Corporate Social Responsibility Reporting 

Paper 2: Strategic Financial Management (100 Marks)

1Financial Policy and Corporate Strategy 
2Risk Management
3Security Analysis
4Security Valuation
5Portfolio Management
6Securitization  
7Mutual Fund
8Derivatives Analysis and Valuation
9Foreign Exchange Exposure and Risk Management 
10International Financial Management
11Interest Rate Risk Management 
12Corporate Valuation 
13Mergers, Acquisitions, and Corporate Restructuring
14Startup Finance

Paper 3: Advanced Auditing and Professional Ethics (100 Marks)

1Auditing Standards, Statements, and Guidance Notes
2Audit Planning, Strategy, and Execution
3Risk Assessment and Internal Control
4Special aspects of Auditing in an Automated Environment
5Audit of Limited Companies
6Audit Reports
7Audit Committee and Corporate Governance
8Audit of Consolidated Financial Statements
9Special features of audit of Banks, Insurance & Non-Banking Financial Companies
10Audit under Fiscal Laws
11Audit of Public Sector Undertakings
12Liabilities of Auditors
13Internal Audit, Management, and Operational Audit
14Due Diligence, Investigation, and Forensic Audit
15Peer Review and Quality Review
16Professional Ethics

Paper 4: Corporate and Economic Laws (100 Marks)

Part I: Corporate Laws (70 Marks)

Section A: Company Law 
1The Companies Act, 2013
2Corporate Secretarial Practice
Section B: Securities Laws
1The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957
2The Securities Exchange Board of India Act, 1992

Part II: Economic Laws (30 Marks)

1The Foreign Exchange Management Act, 1999
2The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
3The Prevention of Money Laundering Act, 2002
4Foreign Contribution Regulation Act, 2010
5The Arbitration and Conciliation Act, 1996
6The Insolvency and Bankruptcy Code, 2016

Paper 5: Strategic Cost Management and Performance Evaluation (100 Marks)

Part A: Strategic Cost Management and Decision Making

Sub Part I: Strategic Cost Management
1Introduction to Strategic Cost Management
2Modern Business Environment
3Lean System and Innovation
4Cost Management Techniques
5Cost Management for Specific Sectors
Sub Part II: Strategic Decision Making
1Decision Making 
2Pricing Strategies/ Decisions 

Part B: Performance Evaluation and Control

Sub Part I: Performance Evaluation and Reporting
1Performance Measurement and Evaluation 
2Divisional Transfer Pricing 
3Strategic Analysis of Operating Income
Sub Part II: Managerial Control
1Budgetary Control 
2Standard Costing 

Part C: Case Study

1Case Study

Paper 6A: Risk Management (100 Marks)

1Introduction to risk
2Source and evaluation of risks
3Risk management
4Evaluation of Risk Management Strategies
5Risk model 
6Credit risk measurement and management
7Risk associated with corporate governance
8Enterprise Risk Management
9Operational Risk Management

Paper 6B: Financial Services and Capital Markets (100 Marks)

1Global Financial Markets 
2Impact of various Policies of Financial Markets 
3Capital Market – Primary
4Capital Market – Secondary
5Money Market 
6Institutions and Intermediaries 
7Commodity Market 
8Banking as a source of Capital including NBFCs
9Mutual Funds 
10Private Equity
11Investment Banking 
12Credit Rating
13Treasury Operations 
14Risk Management 
15Credit Derivatives
16Leasing Decisions
17Factoring
18SEBI Guidelines 

Paper 6C: International Taxation (100 Marks)

Part I: Taxation of International Transactions and Non-resident Taxation in India 

1Transfer Pricing provisions under the Income-tax Act, 1961 
2Other Provisions relating to the taxation of international transactions and non-resident taxation under the Income-tax Act, 1961 
3Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

Part II: Other aspects of International Taxation

1Overview of Model Tax Conventions 
2Tax treaties, Application, and Interpretation
3Anti Avoidance Measures 
4Taxation of E-Commerce Transactions

Paper 6D: Economic Laws (100 Marks)

1World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism
2Competition Act, 2002 and Rules/ Regulations
3Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations] 
4Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations 
5Prevention of Money Laundering Act, 2002 and Rules/ Regulations
6Foreign Exchange Management Act, 1999 and Rules/ Regulations
7Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

Paper 6E: Global Financial Reporting Standards (100 Marks)

1Conceptual Framework for Financial Reporting as per IFRS
2Application of International Financial Reporting Standards
3Significant differences between IFRS and US GAAPs

Paper 6F: Multidisciplinary Case Study (100 Marks)

1Financial Accounting and Reporting
2Audit and Assurance
3Taxation
4Finance and Financial Management
5Management Accounting
6Corporate Laws
7Business Strategy and Management

Paper 7: Direct Tax Laws and International Taxation (100 Marks)

Part I: Direct Tax Laws (70 Marks)

1Basis of charge, residential status, income which do not form part of total income, heads of income, the income of other persons included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates, and reliefs
2Special provisions relating to companies and certain persons other than a company
3Provisions relating to charitable and religious trust and institutions, political parties, and electoral trusts 
4Tax Planning, Tax Avoidance & Tax Evasion
5Collection & Recovery of Tax, Refunds
6Income-tax Authorities, Procedure for assessment, Appeals and Revision
7Settlement of Tax Cases, Penalties, Offences & Prosecution 
8Liability in Special Cases
9Miscellaneous Provisions and Other Provisions

Part II: International Taxation (30 Marks)

1Taxation of international transactions and Non-resident taxation
2Overview of Model Tax Conventions – OECD & UN
3Application and interpretation of Tax Treaties
4Fundamentals of Base Erosion and Profit Shifting

Paper 8: Indirect Tax Laws (100 Marks)

Part I: Goods and Services Tax (75 Marks)

1Introduction to GST in India including Constitutional aspects
2Levy and collection of CGST and IGST
3Place of supply 
4Time and Value of supply
5Input tax credit
6Computation of GST liability
7Procedures under GST including registration, tax invoice, credit and debit notes, electronic waybill, accounts and records, returns, payment of tax including tax deduction at source and tax collection at source, refund, job work 
8Liability to pay in certain cases 
9Administration of GST; Assessment and Audit
10Inspection, Search, Seizure, and Arrest
11Demand and Recovery
12Offenses and Penalties 
13Advance Ruling
14Appeals and Revision
15Other provisions

Part II: Customs & FTP (25 Marks)

1Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
2Foreign Trade Policy to the extent relevant to the indirect tax laws 

CA Final Subjects New Syllabus v/s CA Final Subjects Old Syllabus

ICAI had made changes in the new course CA final subjects. Students can check out the changes from the table given below.

Group 1
Paper-1: Financial Reporting  [100 Marks]Paper-1: Financial Reporting  [100 Marks]
Paper-2: Strategic Financial Management [100 Marks]Paper-2: Strategic Financial Management [100 Marks]
Paper-3: Advanced Auditing and Professional Ethics [100 Marks]Paper-3: Advanced Auditing and Professional Ethics [100 Marks]
Paper-4: Corporate and Economic Law[100 Marks]Paper-4: Corporate and Allied Laws[100 Marks]   Section-A:Company Law[70 Marks]   Section-B: Allied Laws[30 Marks]
Group 2
Paper-5: Strategic Cost Management and Performance Evaluation[100 Marks]Paper-5: Advanced Management Accounting [100 Marks]
Paper-6A: Risk Management[100 Marks]Paper-6: Information Systems Control and Audit[100 Marks]
Paper-6B: Financial Services and Capital Markets[100 Marks] –
Paper-6C: International Taxation[100 Marks] –
Paper-6D: Economic Laws[100 Marks] –
Paper-6E: Global Financial Reporting Standards[100 Marks] –
Paper-6F: Multidisciplinary Case Study[100 Marks] –
Paper-7: Direct Laws Tax and International Taxation[100 Marks]Paper-7: Direct Tax Laws[100 Marks]
Paper-8: Indirect Tax Laws[100 Marks]Page-8: GST & Customs[100 Marks]

CA Final Syllabus 2021

ICAI has announced the new scheme CA final syllabus for May 2021 examinations. Download the CA final syllabus in pdf format from the link given below. 

CA Wizard is an online guide for CA foundation, CA intermediate, and CA final students in India. Candidates can get a solution of each and every query related to CA. Whether it’s study material or preparation tips, candidates will find every small update about CA from CA Wizard. CA Wizard provides all the updates and latest information so as CA final subjects for New Course available on this page. Check out the detailed and updated CA final subjects and download the CA final syllabus 2021 in a pdf format. 

Frequently Asked Questions for CA Final Subjects 2021

Q1. How many subjects do I need to study for CA final exams?

Ans: For the CA final exams students need to study a total of 8 subjects. And all the subjects are mandatory for exams except one optional subject. 

 

Q2. Which group of CA final subjects is easier?

Ans: In group 1 of CA final subjects, most of the subjects are very scoring as a comparison to Group 2 of CA final subjects. Therefore, this makes Group 1 easier than group 2 of CA’s final subjects. 

 

Q3. Which CA final elective subject candidates should choose for CA final exams?

Ans: This depends upon the interest and preferences of the candidates and where they want to get placed. If a candidate wants to start their own practice, then they should go with International taxation and GFRS. If they want to join MNCs and firms then they must opt for the risk management and financial market. And if candidates want to go for research and departments, they must opt for a subject like economics law. 

 

Q4. Can students change the CA final elective subjects?

Ans: Yes, candidates can change their elective subject for the CA final they had opted at the time of registration. But, once the exam forms are out, candidates can not make any changes. 

 

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