CA Final level consist of eight papers divided into two groups. Paper 6 in group 2 is an elective paper.
Group 1
Paper 1: Financial Reporting
Syllabus
Application of Existing Accounting Standards – Application of Guidance Notes issued by ICAI on specified accounting aspects – Framework for Preparation and Presentation of Financial Statements – Application of Indian Accounting Standards (Ind AS) – Consolidated and Separate Financial Statements (as per Ind AS) – Application of Industry specific and Transaction Specific Indian Accounting Standards – Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS) – Accounting and Reporting of Financial Instruments (as per Ind AS) – Accounting for Share Based Payment (as per Ind AS) – Analysis of Financial Statements – Accounting for Carbon Credits – Accounting for E-commerce – Emerging trends in Reporting
Paper 2: Strategic Financial Management
Syllabus
Financial Policy and Corporate Strategy – Indian Financial System – Risk Management – Security Analysis – Security Valuation – Portfolio Management – Securitization – Mutual Funds – Derivatives Analysis and Valuation – Foreign Exchange Exposure and Risk Management – International Financial Management – Interest Rate Risk Management – Corporate Valuation – Mergers, Acquisitions and Corporate Restructuring – International Financial Centre (IFC) – Startup Finance – Small & Medium Enterprises
Paper 3: Advanced Auditing & Professional Ethics
Syllabus
Auditing Standards, Statements and Guidance Notes – Audit Planning, Strategy and Execution – Risk Assessment and Internal Control – Special aspects of Auditing in an Automated Environment – Audit of Limited Companies – Audit Reports – Audit Reports & Certificates for Special Purpose Engagement – Audit Committee and Corporate Governance – Audit of Consolidated Financial Statements – Special features of audit of Banks, Insurance & Non Banking Financial Companies – Audit under Fiscal Laws – Special Audit Assignments – Audit of Public Sector Undertakings – Liabilities of Auditors – Internal Audit, Management and Operational Audit – Due Diligence, Investigation and Forensic Audit – Peer Review and Quality Review – Professional Ethics
Paper 4: Corporate and Economic Laws
Syllabus
Part I: Corporate Laws (70 Marks)
Section A: Company Law
The Companies Act, 2013 and Rules framed thereunder in its entirety with specific reference to section 149 onwards…
Corporate Secretarial Practice
Section B: Securities Laws
The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957: Introduction and important provisions
The Securities Exchange Board of India Act, 1992, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.
Part II: Economic Laws (30 Marks)
The Foreign Exchange Management Act, 1999 – The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – The Prevention of Money Laundering Act, 2002 – Foreign Contribution Regulation Act, 2010 – The Arbitration and Conciliation Act, 1996 – The Insolvency and Bankruptcy Code, 2016
Paper 5: Strategic Cost Management and Performance Evaluation
Syllabus
Part A: Strategic Cost Management and Decision Making
Sub Part I: Strategic Cost Management
Introduction to Strategic Cost Management – Modern Business Environment – Lean System and Innovation – Cost Management Techniques – Cost Management for Specific Sectors
Sub Part II: Strategic Decision Making
Decision Making – Pricing Strategies/Decisions
Part B: Performance Evaluation and Control
Sub Part I: Performance Evaluation and Reporting
Performance Measurement and Evaluation – Divisional Transfer Pricing – Strategic Analysis of Operating Income
Sub Part II: Managerial Control
Budgetary Control – Standard Costing
Part C: Case Study
Case Study
ELECTIVES
Paper 6.1: Risk Management
Syllabus
Introduction to Risk – Source and Evaluation of Risks – Risk Management – Quantitative Analysis – Risk Model – Credit Risk Measurement and Management – Risk Associated With Corporate Governance – Enterprise Risk Management – Operational Risk Management
Paper 6.2: Financial Services and Capital Markets
Syllabus
Global Financial Markets – Impact of various Policies of Financial Markets – Capital Market – Primary – Capital Market – Secondary – Money Market – Institutions and Intermediaries – Commodity Market – Banking – Management – Banking as source of Capital including NBFCs — Mutual Funds – Private Equity – Investment Banking – Credit Rating – Treasury Operations – Risk Management – Credit Derivatives – SEBI Guidelines
Paper 6.3: International Taxation
Syllabus
Part I: Taxation of International Transactions & Non-resident Taxation in India (50 Marks)
Transfer Pricing provisions under the Income-tax Act, 1961 – Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961 – Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview
Part II: Other aspects of International Taxation (50 Marks)
Overview of Model Tax Conventions – Tax treaties, Application and Interpretation – Anti Avoidance Measures – Taxation of E-Commerce Transactions
Paper 6.4: Economic Laws
Syllabus
World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism – Competition Act, 2002 and Rules/ Regulations – Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations] – Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations – Prevention of Money Laundering Act, 2002 and Rules/ Regulations – Foreign Exchange Management Act, 1999 and Rules/ Regulations – Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations
Paper 6.5: Global Financial Reporting Standards
Syllabus
1. Conceptual Framework for Financial Reporting as per IFRS – 10 Marks
2. Application of International Financial Reporting Standards – 70 Marks
3. Significant differences between IFRS and US GAAPs – 20 Marks
Paper 6.6: Multi-disciplinary Case Study
Syllabus
Financial Accounting and Reporting – Audit and Assurance – Taxation – Finance and Financial Management – Management Accounting – Corporate Laws – Business Strategy and Management
Paper 7: Direct Tax Laws & International Taxation
Syllabus
Part I: Direct Tax Laws (70 Marks)
Law and Procedures under the Income-tax Act, 1961
Part II: International Taxation (30 Marks)
Taxation of international transactions and Non-resident taxation – Overview of Model Tax Conventions – OECD & UN – Application and interpretation of Tax Treaties – Fundamentals of Base Erosion and Profit Shifting
Paper 8: Advanced Indirect Tax Laws
Syllabus
Part I: Goods & Services Tax (75 Marks)
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
Part II: Customs & FTP (25 Marks)
Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975 – Foreign Trade Policy to the extent relevant to the indirect tax laws