Complete ICAI CA Syllabus and Subjects for Foundation, Inter and Final Exams for the year 2023

Candidates preparing for the highly competitive CA examinations should be well aware of the CA syllabus beforehand. The Institute of Chartered Accountants of India (ICAI) conducts the CA exams every year. The university grants commission(UGC), which is a statutory body by the Government of India has declared the CA course as similar to that of a postgraduate degree.
Here is a detailed CA syllabus by Vsmart Academy for the aspirants so that they can have an adequate knowledge of subjects in the CA syllabus, before the commencement of classes.

Course Name	Chartered Accountant
Course structure	Foundation level Intermediate level Final level
Course type	Certificate course
Course duration	5 years
Total number of Papers	CA foundation- 4 papers CA Intermediate- 8 papers CA Final- 8 papers

 Minimum Eligibility criteria to apply for CA examinations:

• It is mandatory for all candidates to have passed the 10th and 10+2 from any recognised board.
• Candidates in commerce field must have at least 55% and in case of belonging to any other stream, a minimum of 60% is required.
• There is no age limit as such to appear for the CA exams.

 

 

CA foundation is the stepping stone for an aspiring chartered accountant. The candidate must know of the horizon he/she is stepping towards.

CA Foundation subjects for the  exams include:

Subjects	Total Marks
Principles and practices of accounting	100
Business Law & Business Correspondence and Reporting Business law(60 marks) Business correspondence and reporting(40 marks)	100
Business Mathematics and Logical Reasoning & Statistics Business mathematics(40 marks) Logical reasoning (20 marks) Statistics (40 marks)	100
Business Economics & Business and Commercial Knowledge	100

 

A candidate must secure 40%  in order to pass the CA foundation exams. The Paper 1 ( principles and practices of accounting) includes these below mentioned subjects:

1.Theoretical Framework
2.Accounting Process
3.Preparation of Trial Balance
4.Rectification of Errors etc,
5.Bank Reconciliation Statements
6.Inventories
7.Concepts and Accounting for Depreciation
8.Accounting for Special Transactions
9.Final Accounts of Sole Proprietors
10.Partnership Accounts
11.Financial Statements of Not-For Profit Organizations.
12.Introduction to the Company Accounts
13.Basic Accounting Ratios.

 

This paper is divided into two parts, carrying 60 marks and 40 marks respectively.

PART 1	Communication
PART 2	Sentence types( direct, indirect, active, passive speech)   Word power( vocabulary root words, synonyms, antonyms, prefixes, suffixes, phrasal verbs, collocations and idioms)
PART 3	Comprehension passages  Note making
PART 4	Developing writing skills: Introduction to basic writing Precise writing Article writing Report writing Resume writing Formal letters Formal mails Meetings

 

The third paper mainly tests the logical intelligence of every candidate. It has again been divided into three parts:

Section A	Section B	Section C
Ratio and Proportion, Indices and Logarithms	Number series, Coding and Decoding and odd man out.	Statistical description of Data
Equations and Matrices	Direction Tests	Measures of Central tendency and Dispersion
Linear Inequalities with Objective Functions and Optimization w.r.t. objective function.	Seating Arrangements	Probability
Time value of Money	Blood Relations	Theoretical Distributions
Permutations and Combinations	Syllogism	Correlation and Regression
Sequence and Series		Index Numbers and Time Series
Sets, Relations, and Functions
Basic applications of Differential and Integral calculus

 

The paper 4 has again been divided into two parts, namely section A and Section B:

Section A	Section B
Introduction to Business Economics	Business and Commercial Knowledge – An Introduction
Theory of Demand and Supply	Business Environment
Theory of Production and Cost	Business Organizations
Price Determination in Different Markets	Government Policies for Business Growth
Business Cycles	Organizations Facilitating Business
	Common Business Terminologies

 

 The CA Intermediate exam  is the second level to crack the CA exams. It carries 8 subjects and is divided into two groups with each containing four subjects. In order to reach the final level, it is necessary for the aspirants to clear the intermediate level. The candidate is provided with a duration of 8 months to complete these subjects. The CA Inter subjects are:

PAPERS	SUBJECTS	TOTAL MARKS
PAPER 1	Accounting	100 marks
PAPER 2	Corporate laws and  other laws	100 marks
PAPER 3	Cost and management accounting	100 marks
PAPER 4	taxation	100 marks
PAPER 5	Advanced accounting	100 marks
PAPER 6	Auditing and assurance	100 marks
PAPER 7	Enterprise information system and strategic management	100 marks
PAPER 8	Financial management and economics for finance	100 marks

 

After getting the overview about the CA Inter Subjects it’s time to get a detailed knowledge regarding the syllabus. Here is a detailed CA syllabus for better understanding of CA Inter subjects :

Paper 1 – Accounting:

SL. NO	TOPIC
1.	Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs
2.	Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
3.	Application of Accounting Standards
4.	Company Accounts
5.	Accounting for Special Transactions
6.	Special Type of Accounting
7.	Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

Paper 2 – Corporate and Other Laws :

SECTION A	SECTION B
Preliminary	The Indian Contract Act, 1872
Incorporation of Company and Matters Incidental thereto	The Negotiable Instruments Act, 1881
Prospectus and Allotment of Securities	The General Clauses Act, 1897
Share Capital and Debentures	Interpretation of Statutes.
Acceptance of Deposits by companies
Registration of Charges
Management and Administration
Declaration and Payment of Dividend
Accounts of Companies
Audit and Auditors

Paper 3- Cost and management accounting :

SL. NO.	TOPICS
1.	Overview of Cost and Management Accounting: Introduction to Cost and Management Accounting. Elements of cost and preparation of cost sheets.
2.	Ascertainment of Cost and Cost Accounting System: Material Cost Employee Cost Direct Expenses Overheads Concept of ABC analysis
3.	Methods of Costing : Single Output/ Unit Costing Job Costing Batch Costing Process / Operation Costing Costing of Service Sectors
4.	Cost Control and Analysis: Standard Costing Marginal Costing Budget and Budgetary control.

Paper 4- Taxation

SECTION A	SECTION B
Basic concepts	Concept of indirect taxes
Residential status and scope of total income	Concept and features of indirect taxes
Income which do not form part of the total income	Principal indirect taxes
Heads of Income and computation of Income	Goods and Services Tax (GST) Laws
Income of other person’s included in assessee’s total income	GST Laws: An introduction including Constitutional aspects
Aggregation of Income, Set off or Carry forward and set off of losses.	Levy and collection of CGST and IGST
Deduction from the Gross Total Income	Application of CGST / IGST law
Deduction from the Gross Total Income	Concept of supply including composite and mixed supplies
Advance Tax, Tax deduction at source and Introduction to Tax Collection at Source	Charge of tax
Provisions for filing return of Income and Self Assessment	Exemption from tax
	Composition levy

This paper also includes:

1. The Basic concepts of time and value of supply:

• Input tax credit
• Computation of GST liability
• Registration

1. Tax invoice; Credit and Debit Notes; Electronic way bill
2.  Returns

Paper 5- Advanced accounting:

SL.NO.	TOPICS
1.	Application of Accounting Standards.
2.	Application of Guidance Notes issued by the ICAI on specific accounting aspects.
3.	Special aspects of Company Accounts.
4.	Reorganization of Companies.
5.	Financial Reporting of Banking, Financial Services and Insurance
6.	Valuation of Goodwill.
7.	Consolidated Financial Statements.

Paper 6 – Auditing and Assurance:

SL.NO.	TOPICS
1.	Nature, Objective, and Scope of Audit. Auditing Concepts. Standard Setting  Process. Engagement Standards
2.	Audit Strategy, Audit Planning, and Audit Programme.
3.	Audit Documentation and Audit Evidence
4.	Risk Assessment and Internal Control.
5.	Fraud and Responsibilities of an Auditor in this regard.
6.	Audit in an Automated Environment.
7.	Audit Sampling.
8.	Analytical Procedures.
9.	Audit of Items of Financial Statements.
10.	The Company Audit
11.	Audit Report
12.	Audit of Banks
13.	Audit of Different types of Entities.

Paper 7 – Enterprise Information Systems and Strategic Management:

SECTION A	SECTION B
Automated Business Processes	Introduction to Strategic Management.
Financial and Accounting Systems.	Strategic Management Process
Information Systems and its Components.	Dynamics of Competitive Strategy.
E-Commerce, M-Commerce and Emerging Technologies.	Strategic Management Process.
Core Banking Systems.	Corporate level strategies.
	Organization and Strategic Leadership
	Strategy Implementation and Control.

Paper 8 – Financial Management and Economics for Finance

SECTION A	SECTION B
Financial Management and Financial Analysis: Introduction to the Financial Management Functions Financial Analysis through Ratios	Determination of National Income
Financing Decisions: Sources of Finance Lease Financing Cost of Capital Capital Structure Decisions Leverages	Public Finance
Capital Investment and Dividend Decisions: Capital Investment Decisions Adjustment of Risk and Uncertainty in Capital Budgeting Decision Dividend Decisions	The Money Market
Management of Working Capital	The International trade

The whole CA intermediate exam has a total of 800 marks. When compared to the CA foundation exams, the intermediate level is one scale higher in the difficulty range. 

CA FINAL Subjects:

Students can appear for the final CA exams only after completing 2.5 years of articleship in the final level. The exams are conducted twice a year. CA final syllabus is divided into two groups, comprising eight papers each. The CA Final Subjects are as follows

Total number of Papers	CA Final Subjects	Total Marks
Paper 1	Financial Reporting	100
Paper 2	Strategic Financial Management	100
Paper 3	Advanced Auditing and Professional Ethics	100
Paper 4	Corporate Laws and other Economic Laws	100
Paper 5	Strategic Cost Management and Performance Evaluation	100
Paper 6	Elective Paper	100
Paper 7	Direct Tax Laws	100
Paper 8	Indirect Tax Laws	100

 

Concerned topics:

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.

SECTION – A     

1. Performance Measurement and Evaluation
2. Divisional Transfer Pricing
3. Strategic Analysis of Operating Income.

SECTION – B  

1. Budgetary Control
2. Standard Costing

This section covers basic course concepts.

Paper 6: Elective Paper

Candidates are welcome to select any desired elective in this paper.

1. 6A Risk Management, 
2. 6B Financial Services, and Capital Markets, 
3. 6C International Taxation, 
4. 6D Economic Laws, 
5. 6E Global Financial Reporting Standards, 
6. 6F Multi-disciplinary Case Study

PAPER – 6A   RISK MANAGEMENT

Businesses face a lot of risks in their long run. This particular section helps the candidates to learn various techniques to handle such risky situations or avoid them altogether. The covered topics in this paper are:

1. Introduction to Risk
2. Source and Evaluation of Risks.
3. Risk Management.
4. Quantitative Analysis
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:

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. A. Banking Management
9. Banking as a source of capital including NBFCs
10. Mutual Funds
11. Private Equity
12. Investment Banking
13. Credit Rating
14. Treasury Operations
15. Risk Management
16. Credit Derivatives
17. SEBI Guidelines

 Topics covered in SFM and law:

1. Securitization
2. Fixed Income Securities (Valuation of Bonds/ Debentures)
3. Derivatives
4. Interest Rate Risk
5. The Securities and Exchange Board of India Act, 1992
6. Legislative framework on listing agreements
7. The Securities Contract (Regulation) Act, 1956
8. Chapter III-D of the RBI Act, 1934

PAPER – 6C INTERNATIONAL TAXATION:

Two divide sections:

1. Taxation of International Transactions and Non- Resident Taxation in India
2. Other aspects of International Taxation

SECTION – A  :

Transfer Pricing Provisions under the INCOME TAX Act, 1961.

1. Arm’s Length Price
2. International Transactions

 Most Appropriate Method

1. Functions, Assets and Risk Analysis
2. Documentation & Compliances
3. Specific Reporting Regime in respect of Country by Country reporting and master file

 Advance Pricing Agreements

1. Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961

1. Non-resident Taxation (including Source Rule of Taxation)
2. Double Taxation Relief

 Advance Rulings:

1. Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview.

SECTION – B   

Covered topics:

Overview of Model Tax Conventions.

1. OECD Model Tax Convention
2. UN Model Tax Convention

 US Model Tax Convention

1. Tax treaties, Application, and Interpretation
2. Features of Tax treaties
3. Overview of Tax Information Exchange Agreements

 Commentaries and their importance:

1. Role of Vienna Convention in application and interpretation of tax treaties
2. Anti Avoidance Measures
3. Controlled Foreign Corporations
4. Base Erosion and Profit Shifting

Other Anti Avoidance Measures:

1. Taxation of E-Commerce Transactions
2. Introduction
3. Emerging issues
4.  Equalization levy:

PAPER – 6D :

    World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism

1. Competition Act, 2002 and Rules/ Regulations
2. Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
3. Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
4. Prevention of Money Laundering Act, 2002 and Rules/ Regulations
5. Foreign Exchange Management Act, 1999 and Rules/ Regulations
6. Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

PAPER – 6E   Conceptual Framework for Financial Reporting as per IFRS – 10 Marks

1. Application of International Financial Reporting Standards – 70 Marks
2. Significant differences between IFRS and US GAAPs – 20 Marks

PAPER – 6F     

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 & International Taxation:

SECTION – A:

1. Special provisions relating to companies and certain persons other than a company
2. Provisions relating to charitable and religious trusts and institutions, political parties and electoral trusts
3. Tax Planning, Tax Avoidance & Tax Evasion
4. Collection & Recovery of Tax, Refunds
5. Income-tax Authorities, Procedure for assessment, Appeals and Revision
6. Settlement of Tax Cases, Penalties, Offenses & Prosecution
7. Liability in Special Cases
8. Miscellaneous Provisions and Other Provisions

SECTION – B        

1. The provisions under the Income-tax Act, 1961, including
2. Specific provisions relating to Non-residents
3. Double Taxation Relief
4. Transfer Pricing & Other Anti-Avoidance Measures
5. Advance Rulings
6. Equalization levy
7. Overview of Model Tax Conventions – OECD & UN
8. Application and interpretation of Tax Treaties
9. Fundamentals of Base Erosion and Profit Shifting

Paper 8: Indirect Tax Laws:

1. 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
2. Constitutional aspects
3. Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax; Exemption from tax; Composition levy

 Place of supply

1. Time and Value of supply
2. Input tax credit
3. Computation of GST liability

vii. Procedures under GST – All procedures including registration, tax invoice, credit and debit notes, electronic way bill, accounts and records, returns, payment of tax including reverse charge, refund, job work

•  Provisions relating to electronic commerce:

1. Liability to pay in certain cases
2. Administration of GST; Assessment and Audit
3. Inspection, Search, Seizure and Arrest

•  Demand and Recovery
•  Offenses and Penalties
•  Advance Ruling
• Appeals and Revision

• Other provisions

Section B:

1. Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
2. Introduction to customs law including Constitutional aspects
3. Levy of and exemptions from customs duties – All provisions including the application of customs law, taxable

the event, a charge of customs duty, exceptions to levy of customs duty, exemption from custom duty

• Types of customs duties:

1. Classification and valuation of imported and export goods
2. Officers of Customs; Appointment of customs ports, airports etc.
3. Import and Export Procedures – All import and export procedures including special procedures relating to baggage, goods imported or exported by post, stores

•  Provisions relating to coastal goods and vessels carrying coastal goods
• Warehousing

1. Drawback
2. Demand and Recovery; Refund
3. Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods

• Searches, seizure and arrest; Offenses; Penalties; Confiscation and Prosecution
•  Appeals and Revision; Advance Rulings; Settlement Commission
•  Other provisions
•  Foreign Trade Policy to the extent relevant to the indirect tax laws
• Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP.

FTP and other related provisions:

1. Basic concepts relating to import and export of goods

2. Basic concepts relating to export promotion schemes provided under FTP

When it comes to cracking all the three levels of CA, it has been marked and noted that a lot of students give up mid way. Chartered accountants are well paid and this is an extremely prestigious course. If given proper guidance along with hard work, sky’s the limit and anyone can break through this rigid exam. So, never give up and hang in there until you achieve success!