The Institute of Chartered Accountants of India introduces a new syllabus with respect to the CA Final examinations applicable from November 2024. In view of the dynamic thrust of the demands, it has made some changes. If you are going to appear for the CA Final exams under the new scheme, then understanding the structure, subjects, and key focus areas becomes quite important in order to excel in your preparation.
CA Final Syllabus November 2024 Overview
The revised CA Final syllabus of November 2024 will also have two groups, each containing four subjects. These subjects will further enhance the advanced knowledge and competencies of the student in relation to financial management, audit, taxation, and laws on international standards of accountancy practice. Equally, the new scheme brings some new topics of recent origin, like sustainability reporting and digital finance, and retains up some traditional core areas like financial reporting and strategic management.
The ICAI has made the syllabus to balance theoretical knowledge with practical application. The objective is to produce CAs who are technically proficient and capable of addressing real-world challenges.
CA Final New Syllabus 2024 According to New Scheme, Inclusive
For Nov 2024, CA Final examinations have two sets of papers—Group I and Group II, each having four papers. The detailed breakup is as follows:
Group I Subjects:
Financial Reporting: It encompasses the financial reporting standards, accounting principles, and numerous accounting treatments. Some of the things that are discussed in this module are the consolidation of financial reports, corporation restructuring, and international financial reporting standards. The new scheme combines sustainability and integrated reporting as the main subjects.
Strategic Financial Management: The investment analysis & portfolio management risk management, and international financial management all feature in the syllabus. The revised syllabus focuses more on strategies of financial decision-making including financial instruments like derivatives, while incorporating digital finance themes such as blockchain and FinTech.
Advanced Auditing and Professional Ethics: It covers topics on audit standards & their application, audit of consolidated financial statements and corporate governance. Forensic auditing and ethical dilemmas in the digital age will be included in the revised syllabus Students should learn the latest set of professional standards and regulations.
Corporate and Economic Laws: Incorporating company law, securities laws—including economic regulations to the extent to which this impacts corporate laws, and also securities laws—has been updated to reflect recent legal changes. The precursor curriculum introduces topics on insolvency and bankruptcy code along with advanced parts of company law, including mergers and acquisitions.
Group II Subjects
Strategic Cost Management and Performance Evaluation: This syllabus covers cost management strategies performance measurement & strategic decision-making. The new syllabus puts more emphasis on sustainability costing, performance-evaluation techniques, and integrated reporting.
Direct Tax Laws and International Taxation: This considers advanced direct tax laws, tax planning, and principles of international taxation. Important recent amendments to tax laws, international tax treaties, and measures to curb anti-avoidance under the new scheme are covered.
Indirect Tax Laws: With illustrative details of GST and customs laws, this subject provides just an appreciation of the indirect tax laws. The revised syllabus covers the latest amendments and practical problems affiliated with the business enterprises while following the indirect taxation.
Elective Paper (Students can choose one from the following options):
Risk management
Financial Services and Capital Markets
International Taxation
Economic Laws International Financial Reporting Standards Multidisciplinary Case Study The elective paper allows students to be more specialized in areas of their career goals, thus gaining a wider perspective on their chosen field.
Conclusion
The pattern of updated CA Final syllabus for Nov 2024 under the new scheme by ICAI carries an affirmation that the profession of accounting is dynamic in its approach. The syllabus looks to prepare chartered accountants of the future who meet the challenges of the never-stopping financial landscape. Planning, understanding the syllabus, and preparing effectively all result in success in exams and your CA journey.