CA Final Subjects

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CA Final Subjects

For students who aspire to pursue something other than a traditional degree course, professional courses are a highly viable alternative. These courses build jobs specific skills in students and also impart practical training to build all-round competence. One such course is Chartered Accountancy, or as it is commonly known, CA. Are you wondering how to become a Charted Accountant? In this article, we would be answering that question and also look at CA final subjects, their importance!

Categories  Details 
Exam conducting body Institute of Chartered Accountants of India (ICAI)
Mode of exam  Pen paper-based exam 
Medium of exam English and Hindi
Duration of exam Three hours (180 minutes) each paper
Total number of groups 2
Types of questions Both objective and subjective 
Total number of papers  Total eight papers as per both old and new syllabus
Frequency Twice a year
Marking scheme 100 marks on each paper 
Negative marking No negative marking for wrong answers

What is Chartered Accountancy?

Chartered Accountancy or CA course prepares students for corporate auditing, one of the popular careers in Accountancy. This course can be pursued by anyone who has passed class 12th from any stream. Although commerce students have a substantial advantage over others as they learn the basics of Accountancy through their high school curriculum, which apply in both CA Intermediate and CA final subjects. This course is exclusively controlled by ICAI in India, through its various offices throughout the country. They also prescribe a uniform syllabus and set up examination dates, which are conducted semi annually. 

The span of this course can vary highly depending upon the type of approach a student has towards it. However, if a student chooses to attempt one group of exams in every semi annual exam slot, the course gets completed in about 4 years. The course includes mandatory training for CA candidates, known as articleship which lasts for two and a half years. 

How to Become a CA?

CA Final 

CA Final refers to the last two groups of subjects that a student must complete in order to become a professional chartered accountant. It comprises 7 core CA final subjects as well as 1 Elective. CA Finals commence right after students end with their minimum required training and pass the IPCC (Intermediate) exams. After completion of CA Finals, students are free to practice with any organisation, as Chartered Accountants licensed by the ICAI. Higher ranked students generally get better jobs, while overall placement rate is close to 100% because of centralised admission and passing.

Do you also think CA and CS are the same courses?
If yes, then you are wrong! Read our blog on the difference between CA and CS to end your confusion!

CA Final Subjects New Syllabus 

Here is the syllabus of CA Final as per the new syllabus of ICAI-

Group I

  • Paper 1- Financial Reporting
  • Paper 2- Strategic Financial Management
  • Paper 3- Advanced Auditing and Professional Ethics
  • Paper 4- Corporate and Economic Laws

Group II

  • Paper 5- Strategic Cost Management and Performance Evaluation
  • Paper 6A- Risk Management
  • Paper 6B- Financial Services and Capital Markets
  • Paper 6C- International Taxation
  • Paper 6D- Economic Laws
  • Paper 6E- Global Financial Reporting Standards
  • Paper 6F- Multidisciplinary Case Study
  • Paper 7- Direct Tax Laws and International Taxation
  • Paper 8- Indirect Tax Laws

CA Final Subjects Old Syllabus 

Here is the syllabus of CA Final as per the old syllabus of ICAI-

Group I

  • Paper 1: Financial Reporting
  • Paper 2: Strategic Financial Management
  • Paper 3: Advanced Auditing and Professional Ethics
  • Paper 4: Corporate and Allied Laws 
    • Part I: Company Law 
    • Part II: Allied Laws 

Group II

  • Paper 5: Advanced Management Accounting
  • Paper 6: Information Systems Control and Audit
  • Paper 7: Direct Tax Laws
  • Paper 8: Indirect Tax Laws
    • Part I: Goods and Service Tax
    • Part II: Customs & Foreign Trade Policy

CA Final Subjects

CA final subjects are comparatively harder than the ones taught at the intermediate stage. They deal with more specialised topics which equip the students to ply their skills practically and perform advanced auditing tasks with ease. Here are some of the major subjects included in CA final syllabus:

Group I

  • Financial Reporting
  • Strategic Financial Management
  • Advanced Auditing and Professional Ethics
  • Corporate and Economic Laws

Group II

  • Strategic Cost Management and Performance Evaluation
  • Direct Tax Laws and International Taxation
  • Indirect Tax Laws
  • Electives-
    • Risk Management
    • Financial Services and Capital Markets
    • International Taxation
    • Economic Laws
    • Global Financial Reporting Standards
    • Multidisciplinary Case Study

Do you know you can also pursue CA after completing your bachelor’s degree as well?
To know more, read our blog on CA after graduation!

Financial Reporting
Financial reporting refers to recording how an organization performs financially over a period of time, and relaying that information to the management. It is done through various accounting tools like Balance Sheets and Cash Flow Statements. Financial Reporting is important to show the real performance of the company to top executives so that they can frame useful policies and plan the future course of action accordingly.

Strategic Financial Management
This CA final subject studies the financial position of a company keeping in the record the long term goals of the firm. This helps the company achieve its strategic objectives over a period of time, rather than focussing on just the financial performance of a smaller period of time.

Advanced Auditing and Professional Ethics
This CA final subject focuses on sharpening the auditing skills of students, making them more professional and teaching them advanced skills about book auditing. It also looks to ensure that work ethics and good moral foundations are laid within them to ensure fair and unbiased reporting in the country.

Corporate and Economic Laws
As the name suggests, this CA final subject deals with the legal aspects of running an organisation. A Chartered Accountant needs to be soundly adept with the legal regulations surrounding business, and ensure that the organization functions to the best of its abilities within that framework.

Strategic Cost Management and Performance Evaluation
This subject is an advanced and specialized form of cost Accounting. It deals with not just efficiently managing cost but also ensuring that an organisation’s performance is up to the mark and does not suffer because of over indulging in cost cutting. This subject is highly specialised and useful for those who are looking to work in the corporate sector.

Direct Tax Laws and International Taxation
Direct Tax Laws lays down the regulations imposed by the Government of India regarding direct taxes paid by firms and individuals like Income Tax. It also studies various units under International Taxation which lay down the laws relating to transactions with different countries, taking into account the trade deals and type of commodity.

Indirect Tax Laws
As you must know, Indirect taxes are those which are paid by the consumer. Since the advent of GST in Indian market, Indirect Taxes have become a matter of much study and analysis. This subject covers all the legal and regulatory aspects of the subject, making students adept at calculating and filing Indirect Taxes.

Electives
These are additional CA final subjects which ICAI offers to its students along with their core Final course. These subjects are designed to aid the students with their core skills, which one can choose as per their preference or career orientation. It is advisable to choose a subject which is inherently useful in the career domain which you wish to pursue.

CA Final Subjects: Marking Scheme

Group 1 Marks
Financial Reporting 100
Strategic Financial Management 100
Advanced Auditing & Professional Ethics 100
Corporate and Economic Laws 100
Group 2 Marks 
Strategic Cost Management and Performance Evaluation 100
Direct Tax Laws and International Taxation 100
Indirect Tax Laws 100
Electives 100

CA Final Important Books 

CA Final exam is the last stepping stone to your final destination. Many times candidates need help form additional books in order to build a strong foundation. Here is a list of important CA Final books: 

CA Books  Links
Conceptual Learning A Handbook onIndirect Tax LawBy Yashwant Mangal for CA and CS Final Year Buy Here 
Padhuka’s Student ReferenceOn Indirect Taxes: CA Final Old and New Syllabusby G Serkar and B Sarvana Prasath  Buy Here 
Comprehensive Approach to AdvancedAuditing and Professional Ethics by CA Vikas Oswal  Buy Here 
GST Compact Book: Indirect Tax by CA Raj Kumar Buy Here 
Quick Revision Charts For AdvancedAuditing and Professional Ethics Buy Here 
Padhuka’s A Ready Reference on AdvancedManagement Accounting by CA Prasath B Saravana Buy Here 
Padhuka’s Student’s Handbook OnAdvanced Auditing: CA Final New Syllabusby Sekar and B Sarvana Prasath Buy Here 
Strategic Cost Management and PerformanceEvaluation:  CA Final New Syllabusby B Saravana Prasath Buy Here 

To get a list of all the important Books for this examination, read our blog on CA Books!

FAQs

How many subjects are there in CA final?

The CA exam is divided into 2 groups, group 1 and group 2. Each group has 4 subjects each. Therefore the total number of CA final subjects is 8. 

Is CA final tough?

Yes, CA Final is definitely a tough nut to crack. The passing percentage of the candidates range from 8-10%. Approx to 80% of the candidates requires more than 3 attempts to clear the exam. Therefore, we can say that it is one of the toughest exams in India.

Which subject should I start for CA final?

Be very careful while selecting your CA Final subjects. Make sure that you make it a blend of practical as well as theoretical subjects. 

So, this article covers all the important aspects relating to CA final subjects. To get more information about such career options and how to pursue them, connect with us at team Leverage Edu. We have a host of such informative articles covering numerous topics relating to higher education and job opportunities after that. To find the suitable career for you, connect with our experts from diverse work profiles by booking a free E-meeting right away!

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