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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
- 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
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
- CA Final Syllabus Dec 2021 (as per revised scheme)
- Paper 1: Financial Reporting
- Paper 2: Strategic Financial Management
- Paper 3: Advanced Auditing and Professional Ethics
- Paper 4: Corporate and Economic Laws
- 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 syllabus PDF
- CA Final Syllabus and Subjects – Update
- CA Final Eligibility and Registration
- Final Words
- FAQ’s
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.
| Particular | Details |
|---|---|
| Conducted By | ICAI |
| Mode of Exam | Pen & Paper |
| Frequency | 2 times a year |
| Medium | English and Hindi |
| No. of Papers | 8 papers |
| No. of Groups | 2 |
| Exam Duration | 3 hours |
| Types of Questions | Objective and Subjective |
| Total Marks | 100 for each paper |
| Negative Marking | No |
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)
| 1 | Framework for Preparation and Presentation of Financial Statements |
| 2 | Application of Indian Accounting Standards (Ind AS) |
| 3 | Indian Accounting Standards on Group Accounting |
| 4 | Accounting and Reporting of Financial Instruments (as per Ind AS) |
| 5 | Analysis of Financial Statements |
| 6 | Integrated Reporting |
| 7 | Corporate Social Responsibility Reporting |
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Paper 2: Strategic Financial Management (100 Marks)
| 1 | Financial Policy and Corporate Strategy |
| 2 | Risk Management |
| 3 | Security Analysis |
| 4 | Security Valuation |
| 5 | Portfolio Management |
| 6 | Securitization |
| 7 | Mutual Fund |
| 8 | Derivatives Analysis and Valuation |
| 9 | Foreign Exchange Exposure and Risk Management |
| 10 | International Financial Management |
| 11 | Interest Rate Risk Management |
| 12 | Corporate Valuation |
| 13 | Mergers, Acquisitions and Corporate Restructuring |
| 14 | Startup Finance |
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Paper 3: Advanced Auditing and Professional Ethics (100 Marks)
| 1 | Auditing Standards, Statements and Guidance Notes |
| 2 | Audit Planning, Strategy and Execution |
| 3 | Risk Assessment and Internal Control |
| 4 | Special aspects of Auditing in an Automated Environment |
| 5 | Audit of Limited Companies |
| 6 | Audit Reports |
| 7 | Audit Committee and Corporate Governance |
| 8 | Audit of Consolidated Financial Statements |
| 9 | Special features of audit of Banks, Insurance & Non Banking Financial Companies |
| 10 | Audit under Fiscal Laws |
| 11 | Audit of Public Sector Undertakings |
| 12 | Liabilities of Auditors |
| 13 | Internal Audit, Management and Operational Audit |
| 14 | Due Diligence, Investigation and Forensic Audit |
| 15 | Peer Review and Quality Review |
| 16 | Professional Ethics |
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Paper 4: Corporate and Economic Laws (100 Marks)
Part I: Corporate Laws (70 Marks)
Section A: Company Law
| 1 | The Companies Act, 2013 |
| 2 | Corporate Secretarial Practice |
Section B: Securities Laws
| 1 | The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957 |
| 2 | The Securities Exchange Board of India Act, 1992 |
Part II: Economic Laws (30 Marks)
| 1 | The Foreign Exchange Management Act, 1999 |
| 2 | The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 |
| 3 | The Prevention of Money Laundering Act, 2002 |
| 4 | Foreign Contribution Regulation Act, 2010 |
| 5 | The Arbitration and Conciliation Act, 1996 |
| 6 | The 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
| 1 | Introduction to Strategic Cost Management |
| 2 | Modern Business Environment |
| 3 | Lean System and Innovation |
| 4 | Cost Management Techniques |
| 5 | Cost Management for Specific Sectors |
Sub Part II: Strategic Decision Making
| 1 | Decision Making |
| 2 | Pricing Strategies/ Decisions |
Part B: Performance Evaluation and Control
Sub Part I: Performance Evaluation and Reporting
| 1 | Performance Measurement and Evaluation |
| 2 | Divisional Transfer Pricing |
| 3 | Strategic Analysis of Operating Income |
Sub Part II: Managerial Control
| 1 | Budgetary Control |
| 2 | Standard Costing |
Part C: Case Study
| 1 | Case Study |
Paper 6A: Risk Management (100 Marks)
| 1 | Introduction to risk |
| 2 | Source and evaluation of risks |
| 3 | Risk management |
| 4 | Evaluation of Risk Management Strategies |
| 5 | Risk model |
| 6 | Credit Risk Measurement and Management |
| 7 | Risk associated with Corporate Governance |
| 8 | Enterprise Risk Management |
| 9 | Operational Risk Management |
Paper 6B: Financial Services and Capital Markets (100 Marks)
| 1 | Global Financial Markets |
| 2 | Impact of various Policies of Financial Markets |
| 3 | Capital Market – Primary |
| 4 | Capital Market – Secondary |
| 5 | Money Market |
| 6 | Institutions and Intermediaries |
| 7 | Commodity Market |
| 8 | Banking as source of Capital including NBFCs |
| 9 | Mutual Funds |
| 10 | Private Equity |
| 11 | Investment Banking |
| 12 | Credit Rating |
| 13 | Treasury Operations |
| 14 | Risk Management |
| 15 | Credit Derivatives |
| 16 | Leasing Decisions |
| 17 | Factoring |
| 18 | SEBI Guidelines |
Paper 6C: International Taxation (100 Marks)
Part I: Taxation of International Transactions and Non-resident Taxation in India
| 1 | Transfer Pricing provisions under the Income-tax Act, 1961 |
| 2 | Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961 |
| 3 | Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 |
Part II: Other aspects of International Taxation
| 1 | Overview of Model Tax Conventions |
| 2 | Tax treaties, Application and Interpretation |
| 3 | Anti Avoidance Measures |
| 4 | Taxation of E-Commerce Transactions |
Paper 6D: Economic Laws (100 Marks)
| 1 | World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism |
| 2 | Competition Act, 2002 and Rules/ Regulations |
| 3 | Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations] |
| 4 | Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations |
| 5 | Prevention of Money Laundering Act, 2002 and Rules/ Regulations |
| 6 | Foreign Exchange Management Act, 1999 and Rules/ Regulations |
| 7 | Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations |
Paper 6E: Global Financial Reporting Standards (100 Marks)
| 1 | Conceptual Framework for Financial Reporting as per IFRS |
| 2 | Application of International Financial Reporting Standards |
| 3 | Significant differences between IFRS and US GAAPs |
Paper 6F: Multidisciplinary Case Study (100 Marks)
| 1 | Financial Accounting and Reporting |
| 2 | Audit and Assurance |
| 3 | Taxation |
| 4 | Finance and Financial Management |
| 5 | Management Accounting |
| 6 | Corporate Laws |
| 7 | Business Strategy and Management |
Paper 7: Direct Tax Laws and International Taxation (100 Marks)
Part I: Direct Tax Laws (70 Marks)
| 1 | Basis 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 |
| 2 | Special provisions relating to companies and certain persons other than a company |
| 3 | Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts |
| 4 | Tax Planning, Tax Avoidance & Tax Evasion |
| 5 | Collection & Recovery of Tax, Refunds |
| 6 | Income-tax Authorities, Procedure for assessment, Appeals and Revision |
| 7 | Settlement of Tax Cases, Penalties, Offences & Prosecution |
| 8 | Liability in Special Cases |
| 9 | Miscellaneous Provisions and Other Provisions |
Part II: International Taxation (30 Marks)
| 1 | Taxation of international transactions and Non-resident taxation |
| 2 | Overview of Model Tax Conventions – OECD & UN |
| 3 | Application and interpretation of Tax Treaties |
| 4 | Fundamentals of Base Erosion and Profit Shifting |
Paper 8: Indirect Tax Laws (100 Marks)
Part I: Goods and Services Tax (75 Marks)
| 1 | Introduction to GST in India including Constitutional aspects |
| 2 | Levy and collection of CGST and IGST |
| 3 | Place of supply |
| 4 | Time and Value of supply |
| 5 | Input tax credit |
| 6 | Computation of GST liability |
| 7 | Procedures 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 |
| 8 | Liability to pay in certain cases |
| 9 | Administration of GST; Assessment and Audit |
| 10 | Inspection, Search, Seizure and Arrest |
| 11 | Demand and Recovery |
| 12 | Offences and Penalties |
| 13 | Advance Ruling |
| 14 | Appeals and Revision |
| 15 | Other provisions |
Part II: Customs & FTP (25 Marks)
| 1 | Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975 |
| 2 | Foreign 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 Subjects | Download 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.
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:
- Attested copy of the proof of Nationality
- If a candidate is a foreigner then they need to submit the attested copy of proof of special category- SC/ST, OBC.
- Marksheet of Intermediate/ IPCC exams
- 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.’
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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.
