CA Final New Syllabus and Subjects Dec 2021 (New Course PDF)

                     

CA Final Syllabus for Dec 2021 – CA Final course is the last level of your CA journey. After clearing your CA Final exams, you will become the member of ICAI and start practicing. Before starting your preparation, students should know the CA Final syllabus and subjects that they are going to study. ICAI issues the CA final syllabus and subjects on its official website. As the syllabus can be slightly changed, so the students are advised to only follow the new ICAI CA Final syllabus.

The entire CA Final Course is divided into 2 groups which is further divided into 8 subjects from which one has optional subjects in itself. Given below is the CA Final subjects of new syllabus including all the eight subjects that you are going to prepare in the upcoming months for the Dec 2021 exams.

Group I

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

Group II

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

Every paper of CA Final new syllabus contains 100 marks each and from which you need to secure a minimum of 40% marks in each subject and 50% in aggregate of all the CA Final subjects. You need to prepare well, revise properly and solve enough CA Final papers including MTPs, RTPs, and more to get the desired result.

In this article, you will be getting the complete details about the CA Final syllabus and subjects, along the paper-wise marking scheme, and links to important articles that you must check.

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CA Final Course: Overview

After clearing your CA Foundation, and Intermediate exams, now you become eligible for the CA Final exams. It is the final exams that you need to clear in order to become a Chartered Accountant. CA Final new syllabus includes 8 subjects that you are going to prepare for the exams. In the below table, you’ll get the complete overview about the CA Final Course.

ParticularDetails
Conducted ByICAI
Mode of ExamPen & Paper
Frequency2 times a year
MediumEnglish and Hindi
No. of Papers8 papers
No. of Groups2
Exam Duration3 hours
Types of QuestionsObjective and Subjective
Total Marks100 for each paper
Negative MarkingNo

CA Final Syllabus Dec 2021 (as per revised scheme)

In the following section, students will get the detailed ICAI CA Final syllabus along with their marking scheme. There are total 8 papers of which 6th paper includes elective subjects. Along with the subjects, you’ll also get to know each paper’s objective.

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 

Know the CA toppers success mantra and how they get the ranks in the CA Final Exams.

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

To get the CA Final study material, students can visit the following link.

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

Must Read – How to become CA 

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 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 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
7 Business 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, 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 way bill, 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
12Offences 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 

Students can check out the recommended CA Final books for better preparation of their exams.

CA Final syllabus PDF

Apart from just reading the syllabus, students should have a copy of it, so that they can check it while preparation. So, we’ve mentioned the download link for the CA Final syllabus PDF by the ICAI. Download the syllabus for the future reference.

CA Final New Syllabus and SubjectsDownload PDF

Also, download the section-wise marking scheme for all the CA Final papers.

CA Final Syllabus and Subjects – Update

ICAI in its announcement, notified that there are few deletions in the two papers of the CA Final. There are few topics in the paper 4 and 5 that are deleted by the ICAI for the Dec 2021 examinations and onwards. Now the students don’t have to study these topics for their upcoming CA Final exams. The topics are mentioned in the image below.

ICAI announcement about the CA Final Syllabus and Subjects

Must Check: Essential tips every Chartered Accountancy student needs to get rank in CA Final Examination.

CA Final Eligibility and Registration

To be eligible for the CA Final Syllabus, you need to clear both the groups of CA Intermediate examinations. Also, your articleship is either completed or about to complete in the next 6 months. Now, for eligible students, they need to check the registration dates and register for the CA Final Course. The CA Final registration fee is Rs 22,000 for both the groups. To register for the course, you need to few documents that are mentioned below:

  1. Attested copy of the proof of Nationality
  2. If a candidate is a foreigner then they need to submit the attested copy of proof of special category- SC/ST, OBC.
  3. Marksheet of Intermediate/ IPCC exams
  4. AICITSS Certificate

One time study of the syllabus is not enough in CA Final. You need to do revision multiple times. And we have something for that as well. Do you want to know some tricks that will save you hours of time and you can complete the CA Final Syllabus Revision in just one month? Yes, don’t wait, read the article ‘Strategy to revise the full course of CA Final in One Month.’

You can also read how our students became All India Toppers in CA Exams and how VSI repeats history with ever highest marks.

Final Words

CA Final Syllabus is very vast and students should become disciplined and dedicated to complete it on time. In this article, you have read about the CA Final new syllabus and  CA Final subjects, marking scheme of papers, eligibility and registration. You should be well-informed about the CA Final law syllabus, CA Final SFM syllabus, CA Final costing syllabus and rest of them. This will help in better preparation.

FAQ’s

Ques 1. What is the exam pattern for Paper 6 of the Final Course?

Ans. Paper 6 is an elective paper. It is an open book paper based on the case studies, The duration of this paper is 4 hours. The paper has 5 case studies questions out of which students have to answer any four.

Ques 2. Is CA Final Exam hard to clear? 

Ans. Definitely, you need to prepare very hard to clear this exam. The passing percentage of CA Final exam is around 8-10% that is less. 

Ques 3. Is self study enough for CA Final preparation or do I need CA Coaching?

Ans. CA Coaching is a good way to gain essential guidance instead of self-study. But if you are confused about which institute to join for CA Final preparation or which is the best CA institute for you, then you can read this blog. 

Ques 4. The CA Final new syllabus is less as compared to the old syllabus? 

Ans. Yes, the CA Final new syllabus is more concised and comparatively less than the old one. 

Ques 5. When will the CA final time table for Dec 2021 will be announced?

Ans. The CA Final Time Table for Dec 2021 is announced by ICAI. The CA Final Exams are conducted between 6th to 20th Dec, 2021.