ICAI CA New Scheme Syllabus & Subjects 2024

Last year, the ICAI introduced the CA New Scheme, which included changes to the CA examinations, syllabus, and overall CA course. However, the ICAI elected to commence after the November/December CA exams. The first exam for the CA New Scheme will take place in May 2024. In this new scheme, the ICAI has reduced the exam syllabus while adding new topics to the course.

Before receiving the syllabus, you must first familiarize yourself with the CA course. The CA Course has three levels: foundation, intermediate, and final. All three advanced levels include accounting, direct and indirect taxes, auditing, corporate law, financial management, and other topics.

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The CA course structure as follows:

• CA Foundation Course
• CA Intermediate Course
• CA Final Course

The ICAI recently approved the CA’s revised methodology, which may be applicable to the 2024 examinations. In the new strategy, the ICAI has made significant changes at all levels to guarantee that the CA Course matches international standards.

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Students can download the Chartered Accountant syllabus pdf for the 2024 exams.

Students can also view the CA Course Fee Structures for Foundation, Intermediate, and Final.

The CA Foundation syllabus contains four subjects. To be eligible for the exam, the individual must pass all four papers. The CA foundation syllabus 2023-24 PDF download is available on the ICAI’s official website. The CA syllabus for the Foundation level consists of four subjects:

Module 1:

• Theoretical Framework
• Accounting Process
  • Preparation of Trial Balance
  • Rectification of Errors etc,
• Bank Reconciliation Statements
• Inventories
• Depreciation and Amortisation
• Bills of Exchange and Promissory Notes
• Preparation of Final Accounts of Sole Proprietors

Module 2:

• Financial Statements of Not-For Profit Organizations.
• Accounts from Incomplete Records
• Partnership and LLP Accounts
• Company Accounts

This paper has two parts. Part 1 comprises Business Law, which carries 60 marks and part 2 comprises Business Correspondence and Reporting, which has to carry 40 marks. Topics of paper 2

Module:

• Indian Regulatory Framework
• The Indian Contract Act, 1872
• The sale of Goods Act, 1930
• The Indian Partnership Act, 1932
• The Limited Liability Partnership Act, 2008
• The Companies Act, 2013
• The Negotiable Instruments Act, 1881

Paper 3 has three parts, and each part carries distinct marks Topics for Paper 3

Section A: Business Mathematics

Topics covered are-

1. Ratio and Proportion, Indices and Logarithms
2. Equations
3. Linear Inequalities
4. Mathematics of Finance
5. Basic Concept of Permutations and Combinations
6. Sequence and Series – Arithmetic and Geometric Progressions
7. Sets, Relations, and Functions, Basics of Limits and Continuity Functions
8. Basic applications of Differential and Integral Calculus in Business and Economics

Section B: Logical Reasoning

1. Number series, Coding and Decoding and odd man out.
2. Direction Tests
3. Seating Arrangements
4. Blood Relations

Section C: Statistics

1. Unit – I Statistical Representation of Data
   Unit – II Samling
2. Measures of Central tendency and Dispersion
3. Probability
4. Theoretical Distributions
5. Correlation and Regression
6. Index Numbers

This paper has two parts.topics for paper 4

• Nature and Scope of Business Economics
• Theory of Demand and Supply
• Theory of Production and Cost
• Price Determination in Different Markets
• Determination of National Income
• Public Finance
• Money Market
• International Trade
• Indian Economy

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The CA Intermediate syllabus includes 6 subjects. This level is divided into two categories. An applicant is assigned three papers in the first group of the exam and the same number of papers in the second group. CA applicants must finish the intermediate level before proceeding to the final terms. According to the CA syllabus ICAI, students have 8 months to complete all of these subjects.

• Section A: Income Tax
• Section B: Goods and Service Tax
• Section A: Financial Management
• Section B: Strategic Management

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This paper received a score of 100. And the student has three hours to complete the paper. The candidate must have received a 40% on this paper.

Topics covered in this Subject are-

Module 1:

1. Introduction to Accounting Standards
2. Framework for Preparation and Presentation of Financial Statements
3. Application of Accounting Standards
4. Presentations and Disclosures Based Accounting Standards

Module 2:

1. Assets Based Accounting Standards
2. Liabilities Based Accounting Standards
3. Accounting Standards Based on Items Impacting Financial Statement
4. Revenue Based Accounting Standards
5. Other Accounting Standards
6. Accounting Standards for Consolidated Financial Statement

Module 3:

1. Financial Statement of Companies
2. Buyback of Securities
3. Amalgamation of Companies
4. Accounting for Reconstruction of Companies
5. Accounting for Branches Including Foreign Branches

This paper has 2 parts. One is company law, and another is other laws. These 2 parts carry 50 marks each.

Topics covered in this Section are-

Module 1:

1. Preliminary
2. Incorporation of Company and Matters Incidental thereto
3. Prospectus and Allotment of Securities
4. Share Capital and Debentures
5. Acceptance of Deposits by companies
6. Registration of Charges

Module 2:

1. Management and Administration
2. Declaration and Payment of Dividend
3. Accounts of Companies
4. Audit and Auditors
5. Companies Incorporated Outside India

Module 3:

1. The Limited Liability Partnership Act, 2008

Students should keep in mind that elements of the Companies Act of 1956 that are still in force will be included in their syllabus.

SECTION – B    Other Laws

Laws covered in this section are –

1. The General Clauses Act, 1897
2. Interpretation of Statutes.
3. The Foreign Exchnage Management Act, 1999

The paper is divided into two parts. Section One of the Income Tax Law has 50 points, as does Section Two of the Indirect Taxes.

SECTION – A        Income Tax

This section covers topic like-

Module 1:

1. Basic concepts
2. Residential status and scope of total income
3. Heads of Income and computation of Income under various heads-
   1. Salaries
   2. Income from House Property
   3. Income from Business and Profession
   4. Capital Gains
   5. Income from other sources

Module 2:

• Income of other people is included in assessee’s total income.
• Aggregation of income Set off or carry forward the losses.
• Deduction from Gross Total Income.
• Individuals’ overall income and tax liabilities are computed.
• Advance tax, tax deduction at source, and an introduction to tax collection at source
• Provisions for filing income tax returns and self-assessments.
• Income Tax Liability: Computation and Optimization

SECTION – B        Goods and Service Tax

Topics covered under this head are-

Module 1:

1. GST in India – An Introduction
2. Supply Under GST
3. Charge of GST
4. Place of Supply
5. Exemptions From GST
6. Time of Supply
7. Value of Suppy

Module 2:

1. Input Tax Credit
2. Registration
3. Tax Invoice; Credit and Debit Notes
4. Accounts and Records
5. E-Way Bill

This is the entire syllabus of Group – 1 in Intermediate.

In group two of CA intermediate 3 papers are available. These are follows

This paper also consists of 100 marks.

Topics covered under cost and management accounting are-

Module 1:

• Introduction to the Cost and Management Accounting.
• Material Cost
• Employee Cost and Direct Expenses
• Overhead – Absorption Costing Method
• Activity Based Costing
• Cost Sheet
• Cost Accounting Systems

Module 2:

• Unit and Batch Costing
• Job Costing
• Process and Operation Costing
• Joint Products and By Products
• Service Costing

This is the paper on auditing. In this paper, students face 100 marks of exams in 3 hours.

Topics covered in this subject are as follows –

Module 1:

• Nature, Objective, and Scope of Audit.
• Audit Strategy, Audit Planning, and Audit Programme.
• Risk Assessment and Internal Control.
• Audit Evidence
• Audit of Items of Financial Statements.

Module 2:

• Audit Documentation
• Completion and Review
• Audit Report
• Special Features of Audit of Different Type of Entities
• Audit of Banks
• Ethics and Terms of Audit Engagements

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The study is broken into two sections: financial management and strategic management. These two sections carry 100 points.

SECTION – A     Financial Management

Topics covered in the above section are as follows –

Module 1:

1. Scope and Objectives of Financial Management
2. Types of Financing
3. Financial Analysis and Planning – Ratio Analysis
4. Cost of Capital
5. Financing Decisions – Capital Structure
6. Financing Decisions – Leverages

Module 2:

1. Investment Decisions
2. Dividend Decisions
3. Management of Working Capital

SECTION – B     Strategic Management

Topics covered by this section are as follows-

Module

1. Introduction to Strategic Management.
2. Strategic Analysis: External Environment
3. Strategic Analysis: Internal Environment
4. Strategic Choices
5. Strategy Implementation and Evaluation

This is the entire intermediate-level CA course.

The CA intermediate test carries 800 points for the full topic. This level of CA is tough. Students must pay great attention to this level of exam.

The ICAI provides the CA course syllabus, which outlines the disciplines and topics covered in the exam. The CA final exam is the final step toward Chartered Accountancy. If a candidate wants to be a professional CA, he or she must pass all three levels of tests. The final CA exam includes six courses. The ICAI has divided this exam into two groups.

Paper 1: Financial Reporting

This paper carries 100 marks. And it takes 3 hours to complete the exam.

Topics covered in this subject at the Final level are-

Module 1:

Introduction to Accounting Standards (AS 15, 21, 23, 25, 27 and 28)

Conceptual Framework for Financial Reporting Under Indian Accounting Standards (Ind AS).

1. Ins AS on Presentation of Items in the Financial Statements
2. Ind AS on Measurement based on Accounting Policies
3. Ind AS 115 “Revenue from Contracts with Customers

Module 2:

Ind AS on Assets in Financial Statements

Other Indian Accounting Standards.

Module 3:

Ind AS on Liabilities in Financial Statements

Ind AS on items that affect the financial statements.

Ind AS: Disclosures in Financial Statements

Accounting and reporting for financial instruments

Module 4:

• India AS 103 “Business Combinations”
• Consolidated and Separate Financial Statements of Group Entities
• Ind AS 101: “First-time Adoption of Indian Accounting Standards”
• Analysis of Financial Statements
• Professional and Ethical Duty of a Chartered Accountant Accounting and Technology

Topics covered under this subject are as follows –

Module 1:

1. Financial Policy and Corporate Strategy.
2. Risk Management.
3. Advanced Capital Budgeting Decisions
4. Security Analysis.
5. Security Valuation
6. Portfolio Management.
7. Securitization
8. Mutual Funds
9. Derivatives Analysis and Valuation.
10. Foreign Exchange Exposure and Risk Management.
11. International Financial Management.
12. Interest Rate Risk Management
13. Business Valuation
14. Mergers, Acquisition and Corporate Restructuring.
15. Startup Finance

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Topics Covered in this Subject are as follows-

Module 1:

1. Quality Control
2. General Auditing Principles and Auditors Responsibilities
3. Audit Planning, Strategy and Execution
4. Materiality, Risk Assessment and Internal Control
5. Audit Evidence
6. Completion and Review.
7. Reporting

Module 2:

Specialised Areas

Audit-related services.

Review financial information and provide assurance services.

Digital Auditing and Assurance Group Audits

Special Features of Auditing Banks and Non-Banking Financial Companies

Module 3:

• An overview of auditing public sector undertakings.
• Internal audits include due diligence, investigations, and forensic audits.
• Emerging areas: Sustainable Development Goals (SDGs) and the Environment, Social, and Governance (ESG) Assurance

Professional Ethics and Liabilities of Auditors

Topics Covered under Company Law are as follows –

Module 1:

1. Basic Concepts
2. Incomes that are not part of Total Income
3. Business or professional profits, capital gains, and other sources of income.
4. Income of Other Persons is included in the assessee’s total income.
5. Aggregation of Income, Set Off or Carry Forward of Losses
6. Deductions for Gross Total Income

Module 2:

1. Assessment of Different Entities
2. Evaluation of Trusts, Institutions, Political Parties, and Other Special Entities
3. Tax Planning, Avoidance, and Evasion
4. Taxation on Digital Transactions

Module 3:

1. Deduction, Collection and Recovery of Tax
2. Income Tax Authorities
3. Assessment Procedure
4. Appeals and Revision
5. Dispute Resolution
6. Miscellaneous Provisions
7. Provisions to Counteract Unethical Tax Practices
8. Tax Audit and Ethical Compliances

Module 4:

1. Non Resident Taxation
2. Double Taxation Relief
3. Advance Rulings
4. Transfer Pricing
5. Fundamentals of BEPS
6. Application and Interpretation of Tax Treaties
7. Overview of Model Tax Conventions
8. Latest Developments in International Taxation

Students should be aware that any aspects of the Companies Act of 1956 that are still in existence will be included in your syllabus until the relevant sections are no longer enforced by the Companies Act of 2013.

The subject is divided into three categories-

Module 1:

1. Supply Under GST
2. Charge Of GST
3. Place of Supply
4. Exemptions from GST
5. Time of Supply
6. Value of Supply

Module 2:

1. Input Tax Credit
2. Registration
3. Tax Invoice, Credit and Debit Notes
4. Accounts and Records; E-way Bill
5. Payment of Tax
6. Electronic Commerce Transactions Under GST
7. Returns

Module 3:

1. Import and Export Under GST
2. Refunds
3. Job Work
4. Assessment And Audit
5. Inspection, Search, Seizure and Arrest
6. Demand and Recovery
7. Liability to Pay in Certain Cases
8. Offences and Penalties and Ethical Aspects under GST
9. Appeals and Revisions
10. Advance Ruling
11. Miscellaneous Provisions

Module 4:

1. Levy of Exemptions from Customs Duty
2. Types of Duty
3. Classification of Imported & Exported Goods
4. Valuation Under the Customs Act, 1962
5. Importation & Exportation of Goods
6. Warehousing
7. Refund
8. Foreign Trade Policy

PAPER – 6 (SET – A)        

Corporate and Economic Laws

Topics Covered –

Module 1:

1. A Company Law

Module 2:

1. Securities Laws

Part – II Economic Laws

1. The Foreign Exchange Management Act, 1999
2. The Foreign Contribution Regulation Act, 2010
3. The Insolvency and Bankruptcy Code, 2016

PAPER – 6 (SET – B)        

Strategic Cost and Performance Management

Topics Covered –

Module 1: Strategic Cost Management

• Introduction to Strategic Cost Management.
• Modern Business Environment
• Expert in lean systems and innovation. Cost Management Techniques
• Cost Management Strategies for Emerging Business Models
• Strategic Revenue Management
• Strategic profit management.

Module 2: Strategic Performance Management

• An Introduction to Strategic Performance Management.
• Strategic Performance Measures in the Private Sector.
• Strategic Performance Measures in Non-Profit Organisations
• preparation of performance reports.
• Case Study: Divisional Transfer Pricing and Standard Costing.

This is the whole syllabus for the Chartered Accountancy course. The whole book contains further information regarding CA examinations.

The final exam papers are all worth 800 marks. To pass all of the papers in the CA final result, a student must receive a 40% mark. CA syllabus 2024 PDF is available on the ICAI’s official website and includes thorough information about each subject.

The Lakshya Edu team authored and revised this comprehensive guide to the Chartered Accountancy syllabus. Here are the references and sources that we considered.

1. ICAI CA Foundation Syllabus PDF
2. ICAI CA Intermediate Syllabus pdf
3. ICAI CA Final Syllabus PDF

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