CA Final AFM is paper 2 of the CA Final course, Advanced Financial Management. It is one of the most lucrative papers for gaining good marks or exemption.
The aim of the CA Final AFM paper is to develop the acumen of different financial instruments and theories and help the management with some strategic planning regarding expansion and raising capital.
CA Final is the last stage of the CA course in India. After 2.5 years of articleship at the CA final level, students are qualified to appear for the CA final exams. The exams are held twice a year, in May and November. Further, the last date for CA Final registration is Jan 1 for the May attempt and July 1 for the November attempt. The CA final level has six papers divided into two groups to study.
By solving the question paper, sample paper, mock test paper, and model test papers regularly, students can master the costing subject. You can easily download all the study material for preparing the CA final Strategic and Financial Management, SFM, under the new course scheme.
Furthermore, ICAI has released the CA final exam date for the May 2025 exams. The Exam dates are 1st, 3rd, and 5th for group 1 and 7th, 9th and 11th for group 2 exam. Along with the Exam date ICAI has also released the CA Final Exam form to know the full details click the link.
You can even learn the weightage of marks chapter-wise, the syllabus, and important tips and tricks related to CA Final P-2 exams 2025. ICAI will soon release the CA Final exam date for May 2025.
Students under CA’s final new revised course have the new and updated syllabus. Paper 2 is from the first group and is a practical paper. The new syllabus has introduced a new Syllabus. There are only 6 papers.
CA Final Advanced Financial Management (AFM) Study Material 2025
Students can download CA Final study material for all subjects given by the Institute of Chartered Accountants of India from the link given here.
The study material includes the basic content of all the chapters in the syllabus. We have included the study material for paper 2 of Ca Final below. You can download it and use it while preparing for exams.
Study Material for CA Final Advanced Financial Management AFM 2025
Syllabus Modules | Chapters |
Module-1 | |
| Chapter 1: Financial Policy and Corporate Strategy | |
| Chapter 2: Risk Management | |
| Chapter 3: Advanced Capital Budgeting Decisions | |
| Chapter 4: Security Analysis | |
| Chapter 5: Security Valuation | |
| Chapter 6: Portfolio Management | |
| Chapter 7: Securitization | |
| Chapter 8: Mutual Funds | |
| Chapter 9: Derivatives Analysis and Valuation | |
| Chapter 10: Foreign Exchange Exposure and Risk Management | |
| Chapter 11: International Financial Management | |
| Chapter 12: Interest Rate Risk Management | |
| Chapter 13: Business Valuation | |
| Chapter 14: Mergers, Acquisitions and Corporate Restructuring | |
| Chapter 15: Startup Finance |
Students use the ICAI study material along with some other books and notes available online and offline to properly understand the topics. VSI Jaipur provides the most sorted and simple Ca final SFM notes for a proper and deep understanding of topics.
CA Final AFM Question Papers with Suggested Answers 2025
By practising the CA Final Papers of the previous years and explaining them in an analogous pattern as suggested answers, the student acquires the skills to give the answers in the format demanded by ICAI, which stimulates score marks.
CA Final AFM Mock Test Papers May 2025
ICAI has amended the syllabus under the new scheme. Students can download the suggested Mock Test Paper for CA Final Advanced Finance Management from here.
CA Final AFM Revision Test Papers RTP 2025
ICAI has revised the syllabus under the new scheme. In May and November, students can download the RTP of CA Final Advanced Financial Management for 2018, 2019, and 2020 for both Hindi and English medium students.
- November 2022 – Hindi Medium
- November 2022
- May 2022 – Hindi Medium
- May 2022
- November 2021 – Hindi Medium
- November 2021
- May 2021 – Hindi Medium
- May 2021
- November 2020 – Hindi Medium
- November 2020
CA Final AFM Paper Pattern 2025
- Paper pattern: Practical
- Total questions asked: 100
- Total exam duration: 3 hours
- Maximum marks got: 100 marks
- Total questions asked: 6 out of which five need to be answered
Read how to get a rank in CA final exam. For guidance on the study, plan for CA final exams.
CA Final AFM Exam Assessment Pattern 2025
- -ICAI will assess each question through comprehensive knowledge, analytical skills, and reporting efficiency.
- -Each question has 3 or 4 sections to be addressed and solved.
When students don’t follow the exam answer pattern, they get low marks and fail exams. Read tips for CA final failed students to learn more.
CA Final Paper 2 AFM Weightage: Chapter-Wise 2025
ICAI has given weightage to particular chapters according to their implications for the real world and level of difficulty. Students should plan and prepare for the exams according to the weightage of topics and break down chapters accordingly.
| Chapter | Topics | Weightage |
|---|---|---|
| Chapter1-2 | Chapter 1: Financial Policy and Corporate Strategy Chapter 2: Risk Management | 5%-10% |
| Chapter 3-5 Chapter 9-11 | Chapter 3: Security Analysis Chapter 4: Security Valuation Chapter 5: Portfolio Management Chapter 9: Foreign Exchange Exposure and Risk Management Chapter 10: International Financial Management Chapter 11: Interest Rate Risk Management | 20%-30% |
| Chapter 6-8 | Chapter 6: Securitization Chapter 7: Mutual Funds Chapter 8: Derivatives Analysis and Valuation | 20%-25% |
| Chapter 12-13 | Chapter 12: Corporate Valuation Chapter 13: Mergers, Acquisitions and Corporate Restructuring | 10%-15% |
| Chapter 14 | Chapter 14: Startup Finance | 5%-10% |
CA Final Advanced Financial Management Syllabus
ICAI has revised the CA Final syllabus under the new scheme. Students can download the entire syllabus of CA Final from here.
Syllabus Modules | Chapters |
Module-1 | |
| Chapter 1: Financial Policy and Corporate Strategy | |
| Chapter 2: Risk Management | |
| Chapter 3: Advanced Capital Budgeting Decisions | |
| Chapter 4: Security Analysis | |
| Chapter 5: Security Valuation | |
| Chapter 6: Portfolio Management | |
| Chapter 7: Securitization | |
| Chapter 8: Mutual Funds | |
| Chapter 9: Derivatives Analysis and Valuation | |
| Chapter 10: Foreign Exchange Exposure and Risk Management | |
| Chapter 11: International Financial Management | |
| Chapter 12: Interest Rate Risk Management | |
| Chapter 13: Business Valuation | |
| Chapter 14: Mergers, Acquisitions and Corporate Restructuring | |
| Chapter 15: Startup Finance |
Free download of the updated syllabus of CA Final Strategic and financial management SFM for the newly revised course from here.
CA Final SFM Online Classes
Financial management needs regular practice to excel in the subject. Students use the ICAI study material along with some other books and notes available online and offline to have a proper understanding of the topics. VSI provides the most sorted and simple study material for a proper and deep understanding of SFM in their exclusive classes. Apart from CA Online classes, they also provide pen drive classes to their students that cover the entire study material in the most effective way.
Should I do self-study for CA final SFM, or should I enrol for CA coaching classes?
If you are well prepared with the syllabus and have the expert knowledge, comprehensive, analytical and application Skillset, then you surely can build the evaluation skills required at the final level with self-study. You can enrol with VSI for CA final coaching as:
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Don’t waste your time in figuring out who is the best teacher for CA final costing or which are the best books for CA final costing. Enroll with VSI, and you will have all the best things to help you in your studies.
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