The CA (Chartered Accountancy) Final course is the last stage in the Chartered Accountancy program offered by the Institute of Chartered Accountants of India (ICAI). This course is designed to provide advanced knowledge and skills in various aspects of finance, accounting, auditing, and business management, preparing students for the responsibilities of a Chartered Accountant. Here's a detailed overview of the CA Final course:
Course Structure
The CA Final course consists of two groups, with a total of eight papers:
Group I:
Financial Reporting (Paper 1)
- Accounting Standards
- Guidance Notes
- Corporate Financial Reporting
- Accounting for Corporate Restructuring
- Consolidated Financial Statements
- Financial Instruments
- Share-Based Payment
Strategic Financial Management (Paper 2)
- Financial Policy and Corporate Strategy
- Capital Budgeting Decisions
- Dividend Policy Decisions
- Security Analysis
- Portfolio Management
- International Financial Management
- Derivatives and Risk Management
Advanced Auditing and Professional Ethics (Paper 3)
- Auditing Standards, Statements, and Guidance Notes
- Audit of Limited Companies
- Audit of Banks, Insurance Companies, and Non-Banking Financial Companies
- Audit under Fiscal Laws
- Audit of Public Sector Undertakings
- Internal, Management, and Operational Audits
- Due Diligence and Investigations
- Professional Ethics
Corporate and Economic Laws (Paper 4) Part I: Corporate Laws
- Companies Act, 2013
- SEBI Laws and Regulations
- Corporate Secretarial Practice
- FEMA and Corporate Laws
- Competition Act, 2002
- Insolvency and Bankruptcy Code, 2016
- Prevention of Money Laundering Act, 2002
- Foreign Contribution Regulation Act, 2010
- Real Estate (Regulation and Development) Act, 2016
Group II:
Strategic Cost Management and Performance Evaluation (Paper 5)
- Cost Management
- Strategic Decision Making
- Performance Measurement Systems
- Budgetary Control and Standard Costing
- Transfer Pricing
Elective Paper (Paper 6) (One to be chosen from the following options)
- Risk Management
- Financial Services and Capital Markets
- International Taxation
- Economic Laws
- Global Financial Reporting Standards
- Multidisciplinary Case Study
Direct Tax Laws and International Taxation (Paper 7) Section A: Direct Tax Laws
- Income Tax Act, 1961
- Wealth Tax Act, 1957
- Transfer Pricing
- Non-Resident Taxation
- Double Taxation Relief
- Advance Rulings
Indirect Tax Laws (Paper 8) Section A: Goods and Services Tax (GST)
- GST in India – An Introduction
- Supply under GST
- Charge of GST
- Exemptions from GST
- Input Tax Credit
- Registration
- Tax Invoice, Credit, and Debit Notes
- Customs Law
- Foreign Trade Policy (FTP)
Eligibility
To enroll in the CA Final course, a candidate must have:
- Passed both groups of the CA Intermediate course.
- Completed 2.5 years of articleship training.
Examination Pattern
The CA Final exams are conducted twice a year – in May and November. Each paper is worth 100 marks, with a 3-hour duration per paper. The exam pattern includes both descriptive and practical questions, requiring in-depth understanding and application of the subjects.
Duration
The CA Final course typically spans around 6 to 12 months of preparation, though this may vary based on individual study schedules and preparation.
Practical Training
In addition to theoretical knowledge, the CA Final course includes practical training:
- Articleship: A 3-year training period under a practicing Chartered Accountant, which should be completed by the time of the CA Final exams.
- Advanced Integrated Course on Information Technology and Soft Skills (AICITSS): This course must be completed before appearing for the CA Final exams. It consists of two components:
- Advanced Information Technology Training (AIT): A 100-hour training program.
- Management and Communication Skills (MCS): A 15-day program.
Career Prospects
After successfully passing the CA Final exams and fulfilling all ICAI requirements, students become qualified Chartered Accountants. Chartered Accountants have diverse career opportunities, such as:
- Auditing and Assurance: Conducting audits and providing assurance services.
- Taxation: Advising on and managing tax-related matters.
- Financial Management: Handling financial planning, analysis, and management.
- Corporate Law Advisory: Advising on legal compliance and corporate governance.
- Management Consulting: Offering strategic advice to improve business performance.
- Corporate Finance: Managing corporate finance functions, including mergers and acquisitions.
Study Resources
- Official Study Material: Provided by ICAI, covering all topics in the syllabus.
- Reference Books: Various authors provide books focusing on specific subjects within the syllabus.
- Online Classes and Tutorials: Many coaching institutes offer online resources, including video lectures and practice tests.
- Mock Tests and Sample Papers: Available for practice and preparation.
Registration and Fees
Candidates can register for the CA Final course online through the ICAI website. The registration fee for the CA Final course varies, with additional fees for exam applications, training programs, and other ICAI services.
The CA Final course is designed to equip students with advanced knowledge and skills in accounting, finance, and business management, preparing them for the high-level responsibilities of a Chartered Accountant.
