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scannerca-44 · 7 months ago

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Latest Changes in the CA Curriculum: What Students Need to Know.

The CA curriculum is updated on a regular basis by the Institute of Chartered Accountants of India (ICAI) to reflect changing business requirements and international standards. Maintaining the quality and relevance of the chartered accounting profession depends on these changes. In order to properly organize your preparation and make use of the appropriate materials, such as CA Entrance Exam Books, Scanner CA Intermediate Books, Scanner CA Foundation Books, Scanner CA Final Books, and the CA Foundation scanner, it is imperative that CA candidates are aware of the most recent developments. Here, we'll look at the most recent changes to the CA curriculum and what knowledge students need to be successful.

1. Revised Syllabus for the CA Foundation Course

The CA Foundation course serves as the entry point into the Chartered Accountancy profession. In recent updates, the ICAI has focused on strengthening the foundational knowledge required for advanced levels. Changes in the syllabus emphasize practical applications and critical thinking over rote learning. Key updates include:

Greater focus on Business Mathematics, Logical Reasoning, and Statistics to enhance analytical skills.

Updates to Principles and Practices of Accounting with a deeper emphasis on modern accounting standards.

Enhanced content on Business Economics to help students understand economic theories in a real-world context.

For these updates, resources like Scanner CA Foundation Books and ca foundation scanner are crucial. These tools provide updated questions and model answers that reflect the new syllabus, helping students familiarize themselves with the latest question patterns and important topics.

2.Changes in the CA Intermediate Course

The CA Intermediate level builds upon the concepts learned in the Foundation course and prepares students for more complex topics. The latest changes in the CA Intermediate curriculum include a greater emphasis on practical applications and industry-relevant skills. Key changes are:

Advanced Accounting now includes more case studies and practical examples to help students understand real-life business scenarios.

Corporate and Other Laws have been updated to reflect recent legal amendments and regulatory changes, making it crucial for students to stay current with the law.

Updates in Cost and Management Accounting to include advanced techniques used in modern businesses.

To keep up with these changes, students should use Scanner CA Intermediate Books, which include updated past exam papers and model answers based on the revised syllabus. These resources help students practice solving questions that align with the new curriculum, giving them a competitive edge during exams.

3. Enhanced Focus on Technology and Digital Accounting

The accounting profession is rapidly evolving with advancements in technology, and the CA curriculum has been updated to reflect these changes. A key area of focus is Digital Accounting and Technology integration. New topics have been introduced to ensure that future CAs are equipped with the skills needed in today’s digital world, including:

Blockchain Technology in Accounting: Understanding how blockchain can be used for transparency in financial transactions.

Data Analytics for Auditing: Introducing concepts of data analytics and its application in audit processes.

Automation in Accounting: Using software and tools for automating routine accounting tasks.

Students preparing for the CA exams should consider using CA Entrance Exam Books and Scanner CA Final Books that cover these emerging topics. These books offer insights into how technology is impacting the accounting field and provide examples of how these concepts are applied in practice.

4. Changes in the CA Final Course

The CA Final is the most challenging part of the CA qualification process, and recent changes have made it even more comprehensive. The curriculum updates focus on preparing students for global roles in finance and accounting. Key updates include:

Financial Reporting: New standards and more complex case studies have been added to align with International Financial Reporting Standards (IFRS).

Strategic Financial Management (SFM): Inclusion of advanced financial models and techniques to prepare students for high-level financial analysis.

Direct and Indirect Taxation: Updated to reflect recent amendments in the Indian tax system, including Goods and Services Tax (GST) changes.

Using Scanner CA Final Books can help students get a clear understanding of the new structure and types of questions that are likely to appear in the updated CA Final exams. These books offer practical questions, model solutions, and summaries of changes, making them an essential resource for CA aspirants.

5. Introduction of Elective Papers for CA Final

The CA Final now includes optional papers, which the ICAI implemented to give CA students extra study options. This gives students the opportunity to select a course that fits with their professional objectives, such as international taxation, financial services and capital markets, or risk management. These electives offer specific expertise, which is becoming more and more crucial in the cutthroat job market of today.

For students aiming to excel in their chosen electives, CA Entrance Exam Books and Scanner CA Final Books that focus on these specific subjects can provide targeted practice. These resources help students prepare for in-depth questions and case studies that are part of the elective exams.

6. Practical Training and Integrated Case Studies

All levels of the CA syllabus now place more emphasis on practical training, although this is especially true for the CA Intermediate and CA Final stages. The goal is to close the gap between academic understanding and real-world application so that certified public accountants are prepared for the workforce after graduation. Important modifications consist of:

Integrated Case Studies: To aid students in honing their problem-solving abilities, real-world business scenarios are now taught in the classroom.

Required Articleship: By placing a strong focus on articleship training, students are guaranteed practical experience prior to taking the CA Final Exams.

Because they provide examples and practice problems that mirror real-world case studies, the Scanner CA Intermediate Books and CA Foundation Scanner can be helpful in this regard. Students are guaranteed to be prepared to use their knowledge in practical situations thanks to this preparation.

Conclusion

The recent changes in the CA curriculum reflect the evolving nature of the accounting profession and the need for Chartered Accountants to be well-versed in both traditional accounting principles and modern technologies. By understanding these updates and using resources like CA Entrance Exam Books, Scanner CA Foundation Books, Scanner CA Intermediate Books, and Scanner CA Final Books, students can tailor their preparation to meet the demands of the new syllabus. Staying up-to-date with these changes is crucial for CA aspirants who aim to succeed in this challenging but rewarding field.

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scannerca-0 · 9 months ago

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Understanding the New 42-Month CA Course Structure: What Has Changed?

It is well acknowledged that the Chartered Accountancy (CA) programme is among the most difficult professional programmes offered in India. The most recent change to the course's 42-month duration signifies a substantial change in the way prospective CAs will approach their studies because the Institute of Chartered Accountants of India (ICAI) updates it on a regular basis to meet the changing needs of the industry. This new structure affects not only the length but also the curriculum, training, and methods of assessment. Let's examine the changes and what they signify for those aspiring to become CAs.

1. The Shift to a 42-Months Duration

The move to a 42-months timetable is the most noticeable modification to the new CA course structure. The CA program used to take at least 48 months to complete, including a three-year articleship (practical training). Many students are happy about the shorter duration because it will enable them to finish the course more quickly and start working in the workforce sooner.

However, the shortened time frame also means that students must study with greater efficiency and intensity. The course's rigor and content will not be diminished by the shorter duration. Instead, it calls for a more efficient and cohesive method of instruction, where theoretical understanding is more closely matched with hands-on training. To navigate this demanding schedule successfully, students must also focus on the right study materials, particularly CA Entrance Exam Books, which play a crucial role in building a strong foundation early in the course.

2. Revised Curriculum

Revisions to the curriculum are among the major adjustments that come with the new structure. In order to keep the syllabus contemporary and applicable to the current business and economic climate, the ICAI has taken action to modernize it. This covers the addition of fresh topics as well as the update of current ones to match modern methods.

As an example, the curriculum now gives more weight to data analytics, sustainability reporting, and digital finance—areas that are becoming more and more important in today's business environment. Furthermore, there is an increased emphasis on honing analytical and problem-solving abilities, which are critical for success in the accounting and financial industries. To assist students in navigating these changes, Scanner CA Intermediate Books have become a valuable resource, offering an organized approach to covering both new and updated topics efficiently.

3. Integrated Training and Education

There is also a more integrated approach to training and education with the new 42-month structure. The updated framework more successfully integrates theoretical knowledge and practical experience, reflecting the ICAI's recognition of the value of doing so.

During their articleship, students will have more chances under the new approach to apply what they have learned in the classroom to actual situations. Utilizing resources like the CA Intermediate Scanner can further enhance this learning by providing a focused review of important topics and questions. By bridging the gap between theory and practice, this integration helps students graduate from the course more industry-ready.

4. Streamlined Assessment Process

The assessment procedure has been modified, which is another noteworthy alteration. Exams for the CA degree are famously challenging and demanding, and this has historically been a big obstacle for students. The ICAI made modifications to the new structure that should make the assessment process less stressful and more ongoing.

During the articleship, this includes introducing more frequent internal assessments and project-based evaluations. These adjustments are meant to ease the stress associated with final exams and promote a more regular and stable study schedule. The goal of the ICAI's ongoing assessment program is to make sure that students are learning and implementing their material during the course, as opposed to only studying for tests.

5. Increased Flexibility

The new CA course structure offers students more flexibility, allowing them to tailor their learning routes to align with their career goals. The Institute of Chartered Accountants of India (ICAI) has introduced a broader selection of elective courses, enabling students to focus on areas of interest such as forensic accounting, international taxes, and financial services. This expanded choice in Study Material For CA allows students to specialize in their preferred fields, making the course more appealing to a wider range of students. Moreover, this flexibility ensures that students are better prepared to tackle the unique challenges they will encounter in their chosen career pathways.

Conclusion

The way chartered accountancy is taught and acquired in India has undergone a substantial change with the introduction of the 42-month CA course framework. The ICAI has streamlined examinations, shortened the time, updated the curriculum, integrated training and education, provided greater flexibility, and improved the course's alignment with industry and student needs. Alongside these changes, the importance of selecting the right books for the CA Exam has become even more critical for students aiming to excel in their studies.

Although the changes present new challenges, they also offer students exciting chances to acquire the information and skills needed to succeed in the rapidly changing finance and accounting industries. The new framework provides prospective CAs with a more effective, pertinent, and adaptable route to reaching their career objectives.

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economics-around-you · 9 months ago

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CA Final 2025: Key Changes, Exam Pattern, and Syllabus Updates

The CA Final is a crucial stage for aspiring Chartered Accountants, and the upcoming CA Final 2025 will present its own set of challenges and opportunities. Whether you're a first-time test taker or retaking the exams, staying up-to-date on the latest exam pattern, key changes, and syllabus updates is crucial for success. In this blog, we’ll break down everything you need to know for the CA Final 2025 exams, ensuring you have the insights to excel.

Introduction to CA Final 2025

The CA Final 2025 is the final step in the Chartered Accountancy course offered by ICAI. After clearing the CA Intermediate and completing the mandatory articleship, candidates move forward to this stage. The exam demands a thorough understanding of accounting principles, corporate laws, and taxation among other subjects. What makes CA Final different from other levels is not only the vast syllabus but also the level of conceptual clarity and practical application it requires.

Key Changes for CA Final 2025

Before diving into the syllabus and exam pattern, let’s explore the key updates and changes introduced by ICAI for the CA Final 2025:

New Paper Format: ICAI has revised the pattern to emphasize both objective and subjective components. Expect a higher weightage of MCQs in subjects like Financial Reporting and Strategic Financial Management.

Updated Syllabus: Some important updates include the introduction of new accounting standards (Ind AS), amendments in corporate laws, and the inclusion of international taxation. This necessitates an adjustment in your study materials and methods.

Case Study-based Approach: More emphasis on case studies for subjects like Strategic Cost Management and Direct Tax Laws. These case studies will require you to apply conceptual knowledge to real-world scenarios.

Open Book Exam in Electives: For those opting for elective papers like Global Financial Reporting Standards, the exam will follow an open-book format, providing opportunities to refer to study materials during the exam.

Exam Pattern for CA Final 2025

Understanding the exam pattern is critical for structuring your preparation. The exam consists of two groups, each divided into four papers.

Group 1:

Paper 1: Financial Reporting

Paper 2: Strategic Financial Management

Paper 3: Advanced Auditing and Professional Ethics

Paper 4: Corporate and Economic Laws

Group 2:

Paper 5: Strategic Cost Management and Performance Evaluation

Paper 6: Elective Paper (Choose from subjects like International Taxation, Risk Management, etc.)

Paper 7: Direct Tax Laws and International Taxation

Paper 8: Indirect Tax Laws

Each paper carries 100 marks, with a mix of objective and descriptive questions. The passing criteria are 40% per paper and 50% aggregate in each group.

Syllabus Updates for CA Final 2025

The updated syllabus for CA Final 2025 reflects recent changes in accounting, taxation laws, and financial management principles. Here are a few notable updates:

Ind AS and IFRS: The Financial Reporting paper will have more focus on Indian Accounting Standards (Ind AS) in alignment with International Financial Reporting Standards (IFRS).

Corporate Laws: New amendments in the Companies Act 2013, including sections related to corporate governance and mergers & acquisitions, have been incorporated into Corporate and Economic Laws.

GST and Taxation: The latest amendments in Goods and Services Tax (GST) laws, customs duty changes, and international taxation updates will be reflected in the Indirect Tax Laws paper.

Strategic Cost Management: Expect updates in Performance Evaluation methods, with a focus on advanced costing techniques and real-world corporate decision-making scenarios.

Preparation Strategy for CA Final 2025

With the CA Final 2025 just around the corner, it's essential to prepare a strategic study plan that ensures you cover the syllabus efficiently while leaving ample time for revision. Here’s how you can get started:

1. Know the Weightage

Focus more on high-weightage topics like Financial Reporting and Direct Tax Laws. These subjects carry the bulk of the marks and mastering them gives you a better chance of clearing the exam.

2. Stick to ICAI Materials

Always prioritize ICAI's official study materials and revision test papers (RTPs). These resources are updated as per the latest syllabus and provide a clear understanding of the expected exam pattern.

3. Practice Mock Tests

Take mock tests for each subject, especially for the case study-based questions in Strategic Cost Management and Direct Tax Laws. The more you practice, the better you’ll be at managing time during the actual exam.

4. Focus on Electives

Your elective paper can be a game-changer. Papers like Global Financial Reporting Standards and Risk Management can be prepared more easily with proper reference material due to the open-book format.

Know more: CA Final May 2025: Month-by-Month Guide

Why Choose Success Edge Academy?

At Success Edge Academy, we offer the most up-to-date and comprehensive courses for CA Final preparation. Our experienced faculty focus on conceptual clarity, application-based learning, and mock tests that simulate real exam scenarios. We also provide personalized mentorship to help students navigate through the case study-based approach of ICAI's new exam pattern.

If you're preparing for CA Final 2025, our study materials are aligned with the latest syllabus updates, ensuring you are always one step ahead.

Enroll in CA Final May 2025 batch at Success Edge Academy to get access to exclusive study plans and expert mentorship.

Conclusion

The CA Final 2025 is a challenging yet rewarding step in your career journey. With the right preparation strategy, staying updated on key changes, and leveraging the support of expert coaching, you can excel in the exam and secure your spot as a Chartered Accountant. If you're looking for a coaching institute that helps you prepare comprehensively, Success Edge Academy is here to guide you through every step.

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scannercaintermediatebooks-01 · 10 months ago

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Is 70 Days enough to Clear the CA Final Group 1 from Scratch ?

The Chartered Accountancy (CA) Final is one of the most challenging exams in the field of finance and accounting. Clearing CA Final Group 1 requires not only a solid understanding of complex concepts but also the ability to apply them in various scenarios. If you’re starting from scratch with just 70 days to prepare, the task might seem daunting, but it is not impossible. With the right strategy, focus, and discipline, you can significantly improve your chances of success. One valuable resource to consider during your preparation is using Scanner CA Final books. These books can help you identify important topics and frequently asked questions, providing a targeted approach to your study plan.

1. Understand the Syllabus and Prioritize

The first step is to thoroughly understand the syllabus for CA Final Group 1. The group covers four key subjects:

Financial Reporting

Strategic Financial Management (SFM)

Advanced Auditing and Professional Ethics

Corporate and Economic Laws

Given the vastness of the syllabus, it's essential to prioritize topics based on their weightage in the exam. Focus on high-scoring areas first, ensuring that you cover essential topics that are likely to appear in the exam. Create a study plan that allocates sufficient time to each subject, with more time dedicated to complex topics.

2. Create a Detailed Study Plan

A well-structured study plan is crucial when you have limited time. Break down the 70 days into weeks and further into days, assigning specific topics and chapters to each day. Ensure that your plan includes time for revision and practice exams. A suggested plan might look like this:

Focus: Core Subjects Overview

Day 1-2: Review Subject 1 - Read through main topics and key chapters.

Day 3-4: Practice questions from the CA Final scanner for Subject 1.

Day 5-6: Review Subject 2 - Focus on important chapters and concepts.

Day 7: Practice questions from the CA Final scanner for Subject 2.

Weeks 3-4:

Focus: Deep Dive into Subjects

Day 8-10: Study Subject 1 in detail - Major topics and past papers.

Day 11-13: Practice questions from the CA Final scanner for Subject 1.

Day 14: Revision of Subject 1.

Day 15-17: Study Subject 2 in detail - Major topics and past papers.

Day 18-20: Practice questions from the CA Final scanner for Subject 2.

Day 21: Revision of Subject 2.

Weeks 5-6:

Focus: New Subjects and Integration

Day 22-24: Study Subject 3 - Main topics and key areas.

Day 25-27: Practice questions from the CA Final scanner for Subject 3.

Day 28: Revision of Subject 3.

Day 29-31: Study Subject 4 - Major topics and focus areas.

Day 32-34: Practice questions from the CA Final scanner for Subject 4.

Day 35: Revision of Subject 4.

Weeks 7-8:

Focus: Mock Exams and Revision

Day 36-38: Take mock exams for Subjects 1 and 2.

Day 39-40: Review and analyze mock exam results for Subjects 1 and 2.

Day 41-43: Take mock exams for Subjects 3 and 4.

Day 44-45: Review and analyze mock exam results for Subjects 3 and 4.

Weeks 9-10:

Focus: Final Revision and Exam Strategy

Day 46-48: Revise all subjects with a focus on weaker areas.

Day 49-51: Final practice with CA Final scanner questions for all subjects.

Day 52-53: Take full-length mock exams and analyze results.

Day 54-56: Adjust study focus based on mock exam results.

Weeks 11-10:

Focus: Final Preparation

Day 57-59: Intensive revision of key topics and weak areas.

Day 60-62: Review important formulas, concepts, and CA Final scanner summaries.

Day 63-65: Take final mock exams to gauge preparedness.

Day 66-68: Review mock exam results and refine strategy.

Day 69-70: Relax and ensure you’re well-rested for the exam day.

3. Focus on Conceptual Clarity

Starting from scratch means you need to build your foundation quickly. Focus on understanding the concepts rather than rote memorization. CA exams test your ability to apply knowledge, so ensure that you grasp the underlying principles of each topic. Use study materials, reference books, online resources, and CA Final scanner to aid your understanding. If you come across any difficult concepts, don’t hesitate to seek help from peers, mentors, or online forums.

4. Practice, Practice, Practice

Practicing problems and case studies is crucial to reinforce your learning with the right study material for CA. Dedicate time each day to solve problems, especially in subjects like Financial Reporting and SFM. For auditing and law, practice writing answers to theoretical questions, focusing on structuring your answers clearly and concisely. Additionally, take timed mock tests using comprehensive study CA to simulate the exam environment and improve your time management skills.

5. Maintain Discipline and Stay Positive

With only 70 days at your disposal, discipline is key. Stick to your study plan religiously, avoid distractions, and maintain a consistent study routine. It’s easy to get overwhelmed, but staying positive and confident in your abilities is essential. Utilize recommended books for the CA exam

to ensure you cover all necessary material. Take short breaks to recharge, but ensure they don't derail your focus.

6. Revise Regularly

Revision is critical in the final weeks leading up to the CA entrance exam. Make sure you revisit important topics from your CA entrance exam books multiple times and practice recalling information without looking at your notes. Summarize key points from these books and create quick reference sheets for last-minute revision.

Conclusion

While 70 days is a tight timeline to prepare for CA Final Group 1 from scratch, it’s not an impossible task. Success will depend on how effectively you manage your time, the clarity of your concepts, and the amount of practice you put in. By following a disciplined approach and staying focused on your goal, you can maximize your chances of clearing the exam. Remember, perseverance and determination are just as important as your study strategy. Good luck!

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scannercaintermediate01 · 1 year ago

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Strategies to Improve After Clearing CA Intermediate Exam

Clearing the CA Intermediate exam is a significant milestone on your journey to becoming a Chartered Accountant. However, the journey doesn't end here. To ensure continued success and to prepare effectively for the final hurdle, the CA Final exams, you need to adopt several strategies that can help you improve your skills and knowledge. Here are some strategies to consider:

1. Analyze Your Performance

Analyze your CA Intermediate Result in detail first. Determine your advantages and disadvantages. Identifying the subjects you performed well in and those that need more work will enable you to develop a targeted study schedule moving forward.

2. Set Clear Goals

Achievable goals must be set in order to promote ongoing improvement. Whether your goal is to master a particular subject or get a higher score on the CA Final, having clear objectives can help you stay motivated and focused.

3. Use the books for the CA Entrance Exam

Invest in high-quality CA Entrance Exam Books. These books provide comprehensive coverage of the syllabus and are an invaluable resource for deepening your understanding of key concepts. Make sure to choose books from reputable authors and publishers.

4. Practice with CA Intermediate Books

Scanner CA Intermediate Books are excellent tools for exam preparation. They offer a collection of past exam questions, helping you to understand the exam pattern and practice effectively. Regularly solving these questions improves your problem-solving skills and time management.

5. Refer

Even after passing the CA Intermediate exam, it may still be helpful to go over the Scanner CA Foundation Books again. These publications address the fundamentals, which are frequently the starting point for more complex subjects. A solid understanding of foundational ideas is essential for success at higher levels.

6. Prepare with CA Final Books

The first place you should look for help when getting ready for the CA Final is Scanner CA Final Books. These books offer a ton of practice questions and answers to assist you become familiar with the format and level of difficulty of the exam. Using these books for regular practice can increase your confidence and prepare you for the test.

7. Enroll in Advanced Courses

Consider enrolling in advanced courses or workshops to deepen your knowledge in specific areas. Specialized courses in subjects like taxation, auditing, and financial management can provide you with an edge in your professional career.

8. Join Study Groups

Joining study groups can be incredibly beneficial. Discussing topics with peers, sharing resources, and solving problems together can enhance your understanding and provide new perspectives. Study groups also offer moral support and motivation.

9. Stay Updated with Industry Trends

The field of accounting is dynamic and ever-evolving. Staying updated with the latest industry trends, regulations, and standards is essential. Follow reputable accounting journals, websites, and professional bodies to keep yourself informed.

10. Seek Guidance from Mentors

Your ability to advance professionally can be greatly impacted by having a mentor. Seek the advice of seasoned experts who can offer insightful commentary, counsel, and inspiration. You may overcome obstacles and make wise career decisions with the assistance of mentors.

11. Focus on Time Management

Effective time management is crucial for balancing studies, work, and personal life. Create a realistic schedule that allocates sufficient time for each activity. Prioritize tasks and avoid procrastination to ensure steady progress.

12. Take Mock Tests

A tried-and-true exam success method is to take practice exams frequently. Mock exams help you develop your exam temperament and pinpoint areas that need work by simulating the real exam atmosphere. Examine your results from these assessments to adjust your study plan.

13. Revise Regularly

Regular review is crucial to retaining knowledge and strengthening your learning. Set up allocated time for revision in your study routine. Write revision notes, summarize key points, and go over them again from time to time.

14. Use a CA Foundation Scanner

If you're aiming to strengthen your foundation further, consider using a CA Foundation Scanner. These scanners provide a comprehensive review of foundational topics and help reinforce your basics, ensuring a solid understanding as you progress to higher levels.

Conclusion

After clearing the CA Intermediate exams, focus on understanding your strengths and weaknesses. Develop a strategic study plan, seek mentorship, and regularly practice mock tests to build confidence. Stay updated with changes in the syllabus and industry trends. Balance your study with relaxation to maintain mental health. Consistent effort and a positive mindset will ensure a smooth transition to the CA Final exams and a successful career ahead.

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caintermediatebook2 · 1 year ago

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Navigating the New Scheme for Education and Training in CA Final Course

It's important to stay updated with resources and educational programs in the continuously changing rule of chartered accountancy (CA). The updated syllabus brought forth by the New Scheme for Education and Training aims to equip aspiring chartered accountants for the evolving demands of the business. In this blog post, we'll go over the key components of the new strategy, discuss recommended reading lists, and provide tips on how to perform well on the CA Entrance Exam.

Understanding the New Scheme for Education and Training

The New Scheme for Education and Training in CA represents a strategic shift towards a more practical and application-oriented approach. It emphasizes real-world scenarios, case studies, and hands-on learning to prepare candidates for the complexities of modern accounting and finance practices. The scheme comprises three levels: Foundation, Intermediate, and Final.

Navigating the CA Entrance Exam Successfully

The CA Entrance Exam serves as the gateway to the profession, assessing candidates' aptitude and readiness to pursue the CA course. Here are some tips for navigating the entrance exam successfully:

Understand the Exam Pattern: Familiarize yourself with the format and structure of the entrance exam, including the number of questions, duration, and marking scheme.

Create a Study Plan: Develop a structured study plan that allocates sufficient time for each subject. Prioritize areas of weakness while ensuring comprehensive coverage of all topics.

Practice Regularly: Regular practice is key to mastering the concepts tested in the entrance exam. Solve sample papers, attempt mock tests, and utilize CA Entrance Exam books to enhance your preparation.

Seek Guidance: Don't hesitate to seek guidance from experienced mentors, tutors, or fellow aspirants. Joining a coaching institute or online study group can provide valuable insights and support.

Stay Updated: Stay informed about any modifications or revisions to the ICAI's syllabus or test design. For the most recent information, subscribe to relevant publications or internet forums for discussion.

Latest Updates on ICAI New Scheme

The Institute of Chartered Accountants of India (ICAI) has released the updated syllabus for the CA Final course, applicable from May 2024. This new syllabus, under the new scheme of education and training, aims to better equip aspiring Chartered Accountants with the skills and knowledge needed in the dynamic field of accounting and finance.

Overview of the New CA Final Syllabus

The updated syllabus for the CA Final course consists of six papers, streamlined from the previous eight. This change aims to focus on core areas and eliminate redundancy. Each paper is designed to cover a comprehensive range of topics essential for the professional competence of future CAs.

Group I

Paper1:FinancialReporting

Focuses on Indian Accounting Standards (Ind AS), group financial statements, and financial instruments.

Key topics include Business Combinations, Consolidation, and Ind AS specific requirements.

Paper2:Advanced Financial Management

Covers strategic financial management, risk management, security valuation, and portfolio management.

Includes topics like derivatives, foreign exchange exposure, and mergers and acquisitions.

Paper3:Advanced Auditing and Professional Ethics

Deals with comprehensive direct tax laws including recent amendments and international taxation principles.

Topics include transfer pricing, BEPS, tax treaties, and taxation of digital transactions.

Group II

Paper4:Direct Tax Laws & International Taxation

Deals with comprehensive direct tax laws including recent amendments and international taxation principles.

Topics include transfer pricing, BEPS, tax treaties, and taxation of digital transactions.

Paper5:Indirect Tax Laws

Focuses on GST and Customs Law.

Key areas include supply, charge of GST, input tax credit, and procedures for import and export under GST.

Paper6:Integrated Business Solutions

A multi-disciplinary case study paper that includes strategic management and business solutions.

This paper requires the application of knowledge from all other subjects in practical scenarios.

Recommended Study Materials for CA Final Exam

Preparing for the CA Final examination requires access to high-quality study materials that cover the entire syllabus comprehensively. Here are some recommended resources

CA Final Books: A curated selection of textbooks authored by renowned experts in the field. These books provide in-depth coverage of each subject and serve as essential reference materials for exam preparation.

Scanner CA Final Books: Scanners are invaluable tools for CA aspirants, offering a collection of past exam questions categorized topic-wise. Practicing with scanners helps candidates familiarize themselves with the exam pattern and refine their problem-solving skills.

Study Material for CA Final Books: The Institute of Chartered Accountants of India (ICAI) provides official study materials for CA Final aspirants. These materials are meticulously crafted to align with the exam syllabus and often include case studies, illustrations, and practice questions to aid comprehension.

CA Entrance Exam Books: For candidates preparing for the CA entrance exam, a comprehensive guidebook covering mathematics, logical reasoning, and General Awareness is essential. These books help build a strong foundation in the subjects tested, ensuring thorough preparation and enhancing the chances of success in the exam.

Conclusion

The New Scheme for Education and Training in CA provides a modern way to prepare future Chartered Accountants for their professional challenges. By using the recommended study materials and effective study strategies, students can confidently and ability to navigate their CA journey. With hard work and dedication to success in the CA Entrance Exam and beyond is achievable.

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navinclasses · 9 months ago

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Balancing Articleship and CA Exams

You have to earn the CA (Chartered Accountancy) degree in the truest sense of the word. The course comprises a unique combination of practical experience and in-depth subject knowledge based on application. If you want to qualify as a Chartered Accountant truly you would have to gain hands-on experience along with possessing a detailed understanding of the subject. So, this brings us to a rather important question — how can you manage your CA exams and articleship? There are various techniques and tips that you can follow in this regard. However, in this blog, we have attempted to highlight some of the most important ones.

Taking the early dive

The first step that you need to take in balancing both these pursuits is to begin your exam preparations as early as possible. The task here is rather simple — you have to be ahead of your competitors. The CA exam syllabus is a rather vast one and you have to make sure that before the exam leave begins you have read the syllabus thrice over. Doing this will ensure that you are in a good position to clear the exam on the first go — keep in mind that you have only a short amount of time for this.

Squeezing out short time blocks

Remember that the office work in this case is rather demanding and so you would not have a lot of time to study and flow through your preparations as in so many other disciplines. This is why it is so important that you utilize any time block you can find to study in this case, no matter how short it is. This will help you be consistent in your pursuit of success. This means that you can study in the early mornings, on weekends, while traveling, and when you are waiting while at work.

Applying your learning

When you are working practically during your articleship you will surely encounter a few problems and issues as part of your office work. One of the worst steps that you can take in these cases is to head straightaway to a colleague or a senior so that you can get your doubts cleared. Grab this chance, open your book, and read up on the statutory provision that is applicable in this particular context. Always try to solve the problem by yourself first before you ask for help from anyone else. Remember, you will never forget a solution you have created yourself.

Learning the applications

The approach mentioned immediately above is just as important in reverse situations. This means that if you learn a new concept try to apply it to a workplace problem. For example, if you have learned about the TDS (taxes deducted at source) provisions in income tax, try to use it while reviewing the accounts books of your clients. Find out if the books are complete, correct, timely, and in compliance with said regulations or not. Not only would this fetch you the praise from your seniors it will also help you learn the subject completely.

Avoiding just-in-time studies and making space for revision blocks

Often it has been seen that CA students head to the final examination leave not having read all the subjects. They keep those away for those last-minute studies which is such a disastrous thing to do in this particular case. Simply put, it is hard to learn new concepts, revise them, and then apply them in the exam at short notice. So, reading them the first time during the final examination leave does not indeed make any sense at all. Also remember that the final examination leave is meant for revision, not first-time studies.

Avoiding social media

Even as phones get smarter and AI (artificial intelligence) learns at greater depth natural intelligence is facing the danger of consistent distraction. So, as a CA student, whenever you study you need to make it deep where you are learning really with all the focus you can muster and with complete vigor. As it is, we are always craving to know what is happening on our social media feeds — it has become an addiction rather than a habit. Such usage is damaging some parts of our cognitive brain functioning permanently.

Working efficiently in the office

Doing so will help you save time that you can use later on for studies. You have to ask yourself if you need to work those extra hours. Instead, pledge to use those working hours more efficiently. The very thought that working late nights at the office is a sign that you are working hard is wrong. A whole lot of studies have proven that if you stay late at the office it is only because you are not good enough to get it done within the stipulated time. You have to manage your office time better so that you can deliver the work on time efficiently.

Dealing with complicated topics first

As a student, it is rather normal that you would fall into the trap of taking up subjects that you feel at ease with during your preparations. In such cases, you may opt to leave the complicated ones for the end. This is a clear sign that you are procrastinating which you must avoid. Dealing with complicated subjects first is always hard and stressful. However, this is something that has to be done, and delaying it is never going to help for sure. So, if you tackle these first, and successfully so, it will feel great!

In the end, the importance of rest, rejuvenation and relaxation cannot be ignored in this particular context. A lot of times, your body and mind are affected by the toll that tight deadlines and harsh office schedules will take on you. This is why it is so important that you take some time off when you just relax, rest, and rejuvenate. There are so many ways you can do this such as taking short trips with near and dear ones, exercising regularly, meditating, indulging in some pleasant hobbies, and reading books outside the subject.

#ca coaching #cma course #articleship

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caentranceexambooks · 1 year ago

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Winning Strategies for the last month CA Intermediate Exam

As the CA Intermediate exams draw near, it's time for aspirants to buckle down and focus on effective strategies to maximise their chances of success. The last month leading up to the exams is crucial, and how you utilise this time can significantly impact your performance.

Here are some winning strategies to help you make the most of this crucial period:

Create a Comprehensive Study Plan

Start by mapping out a detailed study plan for the remaining days. Allocate specific time slots for each subject, ensuring you cover all topics adequately. Break down your study sessions into manageable chunks, with short breaks in between to maintain focus and avoid burnout.

Prioritise Revision

In the last month, prioritise revision over learning new concepts. Focus on revisiting key topics from some of the best CA Foundation books and other study materials. Utilise revision techniques like flashcards, mind maps, and summarization to reinforce your understanding and memory retention.

Practice with Mock Tests

Regularly take mock tests to simulate exam conditions and gauge your preparedness. Analyse your performance, identify weak areas, and allocate extra time to strengthen them. Mock tests provided in Scanner CA entrance exam books not only help in assessing your knowledge but also improve time management skills and build confidence.

Seek Clarifications

Don't hesitate to seek clarifications from teachers, mentors, or peers if you encounter any doubts or difficulties during revision. Clearing doubts promptly can prevent misconceptions from affecting your performance in the exams. Utilise CA Intermediate study material, online forums or study groups to discuss concepts and exchange insights with fellow candidates.

Focus on Conceptual Understanding

Instead of rote memorization, aim for a deep understanding of concepts. Focus on the underlying principles and logic behind each topic, which will not only help in answering theoretical questions but also in tackling practical problems more effectively.

Time Management

Practice time management rigorously during your study sessions and mock tests, especially with CA entrance exam books. Allocate appropriate time to each section of the exam and ensure that you complete the paper within the stipulated time. Prioritise questions based on marks and difficulty level to maximise your score efficiently.

Stay Healthy and Energised

Take care of your physical and mental well-being during this intense period of preparation. Maintain a balanced diet, get adequate sleep, and incorporate regular exercise or relaxation techniques to keep stress at bay. A healthy body and mind are essential for optimal performance.

Stay Updated with Amendments

Stay updated with recent amendments and changes in the syllabus of CA Final books to ensure comprehensive preparation. Incorporate the latest updates into your study material to avoid confusion during the exams.

Avoid Last-Minute Cramming

While it's tempting to cram information from CA Intermediate books in the final days, avoid this practice as it can lead to information overload and confusion. Stick to your study plan, focus on revision, and trust in the preparation you have done so far. Engage in activities that relax your mind and maintain a positive attitude towards the exams.

Visualise Success

Visualise yourself succeeding in the exams and achieving your goals. Positive visualisation can boost confidence and motivation, helping you approach the exams with a calm and focused mindset. Believe in your abilities and stay determined to give your best effort.

Conclusion

The last month before CA Intermediate exams is a critical period that requires disciplined preparation and strategic planning. By following these winning strategies, you can optimise your study approach, maximise your preparation, and enhance your chances of success. Stay focused, stay motivated, and remember that hard work and perseverance always pay off in the end. Best of luck!

#caentranceexambooks #caintermediatebooks #ca final books

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fawdwd · 4 months ago

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How to Crack the CSEET May 2025 Exam on the First Attempt

The Company Secretary Executive Entrance Test (CSEET) is the gateway to a promising career in the Company Secretary (CS) profession. Conducted by the Institute of Company Secretaries of India (ICSI), this exam tests your aptitude in Business Communication, Legal Aptitude, Economics, and Current Affairs. Cracking the CSEET on the first attempt is not just a milestone but a confidence booster for your CS journey. However, with the right CSEET preparation tips, a solid CSEET study plan 2025, and strategic execution, you can achieve this goal effortlessly.

Here’s a step-by-step guide to help you crack the May 2025 CSEET exam on the first attempt:

Understand the CSEET Exam Pattern and Syllabus

To crack CSEET on the first attempt, start by understanding the exam pattern. The CSEET consists of four papers:

Paper 1: Business Communication

Paper 2: Legal Aptitude and Logical Reasoning

Paper 3: Economic and Business Environment

Paper 4: Current Affairs and Quantitative Aptitude

Each paper carries 50 marks, and the exam is conducted online. Knowing the syllabus thoroughly is crucial. Focus on high-weightage topics like contract law in Legal Aptitude, communication models in Business Communication, and macroeconomic concepts in Economics. A clear understanding of the syllabus will help you prioritize your efforts effectively.

Effective CSEET Study Plan May 2025

An organized and strategic study plan is key to excelling in the CSEET May 2025 exam. Follow these steps to create an efficient plan:

Time Management: Allocate specific hours daily for each subject.

Balanced Approach: Ensure equal attention to all subjects while focusing on weaker areas.

Weekly Targets: Set achievable weekly goals to track your progress.

Study Material: Use ICSI-recommended books, online resources, and video lectures for comprehensive preparation.

A disciplined study plan will help you stay on track and avoid last-minute stress.

Practice with Mock Tests and Previous Papers

Mock tests are a game-changer in your CSEET exam strategy. They help you:

Assess Preparation: Identify strengths and weaknesses.

Time Management: Simulate real exam conditions to improve speed and accuracy.

Understand Patterns: Analyze previous years papers to familiarize yourself with question trends.

Aim to take at least 5-10 mock tests before the exam to build confidence.

Stay Updated with Current Affairs

Current Affairs is a scoring section in the CSEET exam. To stay updated:

Daily Reading: Read newspapers like The Hindu or Economic Times.

Online Resources: Follow credible news websites and monthly current affairs magazines.

Notes: Maintain a separate notebook for current affairs to revise before the exam.

Focus on Revision

Revision is the key to retaining what you’ve learned. Here’s how to revise effectively:

Frequent Revision: Revise each subject at least 2-3 times before the exam.

Summary Sheets: Create concise notes for quick revision.

Final Week Strategy: Focus on weak areas and high-weightage topics in the last week.

Stress on Mental and Physical Well-being

Your health plays a vital role in exam preparation. Follow these tips:

Healthy Habits: Eat nutritious food, exercise regularly, and sleep for 7-8 hours daily.

Stress Management: Practice meditation or yoga to stay calm and focused.

A healthy mind and body will enhance your productivity and concentration.

Seek Guidance from Experts and Coaching Institutes

If you’re struggling to prepare on your own, consider joining the best CSEET coaching classes. Coaching institutes like Agrawal Classes in Pune offer:

Expert Mentorship: Guidance from experienced faculty.

Structured Learning: Well-planned study material and test series.

Proven Track Record: A history of helping students crack the CSEET on the first attempt.

Agrawal Classes specializes in CA, CS, and CMA coaching and provides personalized attention to help you excel.

Conclusion

Cracking the CSEET May 2025 exam on the first attempt requires a combination of strategic planning, consistent effort, and the right guidance. By following the above CSEET preparation tips, creating a robust CSEET study plan 2025, and practicing diligently, you can achieve your goal.

Agrawal Classes is your trusted partner for those seeking expert mentorship and a structured approach. With their proven CSEET exam strategy and dedicated faculty, you can confidently prepare for the exam and set the foundation for a successful CS career.

By following this guide and leveraging the right resources, you can crack the May 2025 CSEET exam on the first attempt and embark on a rewarding journey as a Company Secretary.

#CSEET May 2025 Exam

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blogs0 · 1 year ago

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Get Ahead on the CA Final IDT Exam with These Insider Tips and Strategies!

Introduction to CA Final IDT

The Chartered Accountancy (CA) journey in India reaches its pinnacle with the CA Final, the last and most challenging phase. The CA Final Indirect Tax (IDT) exam stands out as a significant hurdle in this prestigious qualification process. Taking place twice a year in May and November, this examination demands meticulous preparation and strategic planning for success.

Syllabus Overview

The CA Final IDT paper, classified into three key sections, plays a pivotal role in shaping a candidate’s success:

Central Excise

Rules, Circulars, and Notifications related to the Central Excise Act of 1944 and the Central Excise Tariff Act of 1985.

Service Tax

In-depth exploration of the Service Tax framework.

GST (Goods and Services Tax)

Detailed coverage of GST, encompassing the levy and collection of CGST and IGST, concept of supply, place of supply, time and value of supply, input tax credit, and more.

Study Material for CA Final IDT

Effective preparation for the CA Final IDT exam begins with the right study material. The Institute of Chartered Accountants of India (ICAI) provides comprehensive study material, covering all essential chapters and units. This official material can be complemented with additional course books and online resources for a holistic understanding.

CA Final IDT Study Material:

Module-wise breakdown including chapters like Supply Under GST, Charge Of GST, Place of Supply, Exemptions from GST, Time of Supply, and more.

Vsmart Academy offers valuable notes and techniques for effective preparation.

Previous Year Exam Papers

Practicing with previous year exam papers is a strategic approach to excel in the CA Final IDT exam. This practice provides insights into the exam pattern, question formats, and the level of difficulty. Here are essential resources for candidates:

CA Final IDT Question Papers with Suggested Answers 2024:

Access to previous year’s question papers for May 2022, December 2021, July 2021, and January 2021.

CA Final IDT Paper Mock Test Papers 2024:

Utilize revised mock test papers for Series I and Series II to gauge your preparation level and enhance performance.

CA Final IDT Paper 2024 Weightage - Chapter Wise for New Course

Sections

Part I – GST (75 Marks)

Weightage

Section IChapter 1: 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 (including reverse charge); Exemption from tax; Composition levy45%-65%Section IIChapter 1(vii): Procedures under GST including registration, tax invoice, credit and debit notes, electronic waybill, accounts and records, returns, payment of tax including tax deduction at source and tax collection at source, refund, job work Chapter 1(viii): Liability to pay in certain cases<10%-30%Section IIIChapter 1(xi): Demand and Recovery Chapter 1(xii): Offences and Penalties Chapter 1(xiii): Advance Ruling Chapter 1(xiv): Appeals and Revision10%-25%Section IVChapter 1: Introduction to GST in India including Constitutional Aspects Chapter 1(ix): Administration of GST; Assessment and Audit Chapter 1(x): Inspection, Search, Seizure, and Arrest Chapter 1(xv): Other Provisions5% -10%

Sections

Part II – Customs and FTP (25 Marks)

Weightage

Section IChapter 1(ii): 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 customs duty Chapter 1(iii): Types of customs duties Chapter 1(iv): Classification of imported and export goods Chapter 1(iv): Valuation of imported and export goods40% -65%Section IIChapter 1(vi): Import and Export Procedures including special procedures relating to baggage, goods imported or exported by post, stores Chapter 1(ix): Drawback Chapter 1(x): Refund Foreign Trade Policy Chapter 2(ii): Basic concepts relating to export promotion schemes provided under FTP20% – 45%Section IIIChapter 1(1): Introduction to customs law including Constitutional aspects Foreign Trade Policy Chapter 2(1): Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP, contents of FTP and other related provisions Chapter 2(i): Basic concepts relating to import and export10% – 20%

Preparation Tips for CA Final IDT

Paper Pattern:

Understand the subjective nature of the paper.

Total questions: 100

Exam duration: 3 hours

Maximum marks: 100

Answering 5 out of 6 questions.

Must Read – https://www.vsmartacademy.com/blog/preparation-strategy-to-score-good-marks-in-ca-final-idt/

Assessment Pattern Ratio:

30:70 ratio for analytical skills, comprehensive knowledge, and reporting efficiency.

Verb Usage:

Follow ICAI’s list of verbs with illustrations, such as recommend, evaluate, advice, produce, prioritize, interpret, discuss, and more.

Weightage Allocation:

Chapter-wise weightage for GST, Customs, and FTP to prioritize preparation effectively.

Revision Techniques:

Regular revisions of important chapters.

Utilize ICAI’s recommended reference for quick revision.

Sample questions for the 30:70 assessment to enhance learning.

Conclusion

In conclusion, success in the CA Final IDT exam requires a strategic and comprehensive approach. By understanding the syllabus, utilizing study materials effectively, practicing with previous year’s papers, and following the recommended preparation tips, candidates can position themselves for success in this challenging examination.

#ca final #ca final idt

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cafoundationbook · 1 year ago

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CA Intermediate New Syllabus 2024

Updated by ICAI

The Institute of Chartered Accountants of India (ICAI) is ushering in a new era for CA Intermediate aspirants with the introduction of an updated syllabus, set to roll out on July 1, 2023. The maiden voyage for this revamped curriculum will be the CA Intermediate 2023 exam, scheduled for May 2024. To navigate these changes seamlessly, aspiring Chartered Accountants must remain well-versed and attuned to the transformation. It's worth noting that, under the existing syllabus, the final exam is slated for November 2023.

Key Transition: CA Intermediate New Syllabus 2024

The impending alterations demand meticulous attention from students, urging them to delve into the intricacies of the CA Intermediate New Syllabus 2024. This proactive approach is vital as examinations from the upcoming year onward will strictly adhere to this refreshed curriculum. Let's delve into the essential aspects of the new syllabus and how candidates can gear up for success.

CA Intermediate New Syllabus 2024 Papers

The CA Intermediate New Syllabus 2024 has 6 main subjects. Students can take the help of some of the best CA Intermediate Books to qualify their CA Intermediate Exam. Here’s a simple breakdown of each one for a better understanding of the students:

CA Intermediate New Syllabus 2024

S. No

Paper Name

Marks

Advanced Accounting

100 Marks

Corporate And Other Laws

Part I: Company Law And Limited Liability Partnership Law

Part Ii: Other Laws

100 Marks

Part I: 70 Marks

Part II: 30 Marks

Taxation

Section A: Income Tax Law

Section B: Goods and Services Tax

100 Marks

Section A: 50 Marks

Section B: 50 Marks

Cost and Management Accounting

100 Marks

Auditing and Ethics

100 Marks

Financial Management And

Strategic Management

Section A: Financial Management

Section B: Strategic Management

100 Marks

50 Marks

CA Intermediate New Syllabus 2024 Paper 1: Advanced Accounting

The section of the CA Intermediate New Syllabus 2024 emphasizes the practical application of accounting principles in real-world business scenarios. It involves the preparation of financial statements, incorporating Indian Accounting Standards that closely resemble International Financial Reporting Standards (IFRS). Additionally, the curriculum addresses the convergence with or adoption of IFRS, along with the framework for the preparation of financial statements.

CA Intermediate New Syllabus 2024: Advanced Accounting

Topics

Sub Topics

Application of Accounting Standards

AS1 Disclosure of Accounting Policies

AS2 Valuation of Inventories

AS3 Cash Flow Statements

AS4 Contingencies and Events Occurring After the Balance Sheet Date

AS5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

AS6 Construction Contracts

AS7 Revenue Recognition

AS8 Property, Plant and Equipment

AS9 The Effects of Changes in Foreign Exchange Rates

AS10 Accounting for Government Grants

AS11 Accounting for Investments

AS12 Accounting for Amalgamations (excluding inter-company holdings)

AS13 Employee Benefits

AS14 Borrowing Costs

AS15 Segment Reporting

AS16 Related Party Disclosures

AS17 Leases Earnings Per Share

AS18 Consolidated Financial Statements of single subsidiaries (excluding problems involving acquisition of Interest in Subsidiary at Different Dates, Cross holding, Disposal of a Subsidiary and Foreign Subsidiaries)

AS19 Accounting for Taxes on Income

AS20 Accounting for Investment in Associates in Consolidated Financial Statements

AS21 Discontinuing Operations

AS22 Interim Financial Reporting

AS23 Intangible Assets

AS24 Financial Reporting of Interests in Joint Ventures

AS25 Impairment of Assets

AS26 Provisions, Contingent Liabilities, and Contingent Assets

Company Accounts

Schedule III to the Companies Act, 2013 (Division I)

Preparation of financial statements – Statement of Profit and Loss, Balance Sheet, and Cash Flow Statement

Buyback of securities

Accounting for the reconstruction of companies

Accounting for Branches, including foreign branches.

CA Intermediate New Syllabus 2024 Paper 2: Corporate and Other Laws

The aim of this segment within the CA Intermediate New Syllabus 2024 is to comprehend legal statutes and their practical applications. It entails gaining insights into legal frameworks and their pragmatic utilization.

Key Learning Objectives:

Comprehend the principles and applications of the General Clauses Act.

Acquire familiarity with the statutory interpretation rules crucial for legal practice.

Develop foundational knowledge of the Foreign Exchange Management Act of 1999, particularly its provisions concerning foreign exchange and financial transactions.

CA Intermediate New Syllabus 2024: Corporate and Other Laws

Topics

Sub Topics

Part 1: COMPANY LAW AND LIMITED LIABILITY PARTNERSHIP LAW

The Companies Act 2013

Preliminary Incorporation of Company and Matters Incidental thereto, Prospectus and Allotment of Securities, Share Capital and Debentures, Acceptance of Deposits by Companies, Registration of Charges, Management and Administration, Declaration and Payment of Dividend, Accounts of Companies, Audit and Auditors, Companies Incorporated Outside India

The Limited Liability Partnership Act, 2008 including important Rules

PART 2: OTHER LAWS

The General Clauses Act, 1897

Important Definitions, Extent and Applicability, General Rules of Construction, Powers and Functionaries, Provisions as to Orders, Rules, etc. made under Enactments and

Miscellaneous provisions

Interpretation of Statutes

Rules of Interpretation of Statutes, Aids to Interpretation, Rules of Interpretation/Construction of Deeds and Documents

The Foreign Exchange Management Act, 1999

Significant definitions and concepts of Current and

Capital Account Transactions

CA Intermediate New Syllabus 2024 Paper 3: Taxation

The goal is to comprehend income tax regulations and employ them in practical scenarios, alongside grasping the fundamentals of the goods and services tax for addressing complex situations effectively.

CA Intermediate New Syllabus 2024: Taxation

Topics

Sub Topics

Section A: Income Tax Laws

Basic Concepts

Income-tax law: An introduction

Significant concepts in income-tax law, including person, assessee, previous year, assessment year, income, agricultural income

Basis of Charge

Procedure for computation of total income and tax payable in case of individuals

Residential status and scope of total income

Residential status

Scope of total income

Heads of income and the provisions governing computation of income under different heads

Salaries

Income from house property

Profits and gains of business or profession

Capital gains

Income from other sources

Provisions relating to clubbing of income, set-off or carry forward and set-off of losses, deductions from gross total income

Advance Tax, Tax deduction at source and tax collection at source

Provisions for filing return of income and self-assessment

Computation of total income and income-tax payable by an individual under the alternative tax regimes under the Income-tax Act, 1961 to optimise tax liability

Section B: Goods And Services Tax (GST)

Objective:

To develop an understanding of the provisions of goods and services tax law.

To acquire the ability to apply such provisions to address/ solve issues in moderately complex scenarios.

GST Laws: An introduction including Constitutional aspects

Levy and collection of CGST and IGST

Application of CGST/IGST law

Concept of supply including composite and mixed supplies

Charge of tax including reverse charge

Exemption from tax Composition levy

Basic Concepts

Classification

Place of supply

Time of supply

Value of supply

Input tax credit

Computation of GST liability

Registration

Tax invoice; Credit and Debit Notes; Electronic way bill

Accounts and Records

Returns

Payment of tax

CA Intermediate New Syllabus 2024 Paper 4: Cost and Management Accounting

To grasp the fundamental concepts and use them to calculate the costs of making products and offering services, and then use this information to set prices.

To understand cost accounting statements.

To apply this knowledge for determining costs, planning, control, and decision-making, and use various methods to calculate costs for different purposes.

To employ suitable techniques for making short-term decisions.

CA Intermediate New Syllabus 2024: Cost and Management Accounting

Topics

Sub Topics

Paper 4: Cost and Management Accounting

Overview of Cost and Management Accounting:

Introduction to Cost and Management Accounting

Objectives and Scope of Cost and Management Accounting.

The users of Cost and Management accounting information, Functions of management

Accounting.

Role of the cost accounting department in an organization and its relation with other departments.

Installation of Costing System.

Relationship of Cost Accounting, Financial Accounting, Management Accounting and

Financial Management.

Cost terms and Concepts.

Cost Reduction and Cost Control

Elements of Costs.

Cost behavior pattern, Separating the components of fixed, variable, semi-variable, and step costs.

Methods of Costing, Techniques of Costing.

Digital Costing

Elements of Cost and Preparation of Cost Sheets

Functional classification and ascertainment of cost.

Preparation of Cost Sheets for the Manufacturing sector and for the Service sector.

Ascertainment of Cost and Cost Accounting System

Material Cost

Introduction to procurement procedures. Valuation of receipts, issue and closing stock of Material, Stock verification.

Material requirement analysis through digital costing including Government e-Marketplace (GeM). Introduction to Costing through Enterprise Resource Planning (ERP). Process of tender and quotation.

Inventory control:

Techniques of fixing the level of stocks- minimum, maximum, reorder point, safety stock, determination of the optimum stock level

Determination of Optimum Order Quantity- Economic Order Quantity (EOQ)

Techniques of Inventory control- ABC Analysis, Fast, Slow moving and Non-moving (FSN), High, Medium, Low (HML), Vital, Essential, Desirable (VED), Just-in-Time (JIT)- Stock taking and perpetual inventory system, use of inventory control ratios, Digital Inventory control.

Treatment of Normal/Abnormal Losses w.r.t. waste, scrap, spoilage, defective, obsolescence.

Employee Cost

Introduction to Attendance and Payroll procedures.

Elements of wages- Basic pay, Dearness Allowance, Overtime, Bonus, Holiday and leave

wages, Allowances, and perquisites

Employee Cost Control

Employee Turnover- Methods of calculating employee turnover, causes of employee turnover, effects of employee turnover

Remuneration systems and incentive schemes- Premium Bonus Method (Halsey Plan and Rowan Plan

Direct Expenses

Identification of direct expenses with the main product or service and its treatment

Overheads

Functional analysis- Factory, Administration, Selling, Distribution, Research and Development.

Behavioral analysis- Fixed, Variable and Semi-Variable.

Allocation and Apportionment of overheads using the Absorption Costing Method.

Factory Overheads- Primary and secondary distribution.

Administration Overheads- Method of allocation to cost centers or products.

Selling & Distribution Overheads- Analysis and absorption of the expenses in products/customers, the impact of marketing strategies, and the cost-effectiveness of various methods of sales promotion.

Treatment of Research and development cost in cost accounting

Concepts of Activity-Based Costing (ABC)

Integration of Cost and Financial Data

Recording of financial data and its segregation.

Introduction to Non-integrated and Integrated Accounting Systems.

Items included in cost accounts only but financial accounts and vice versa.

Reconciliation of profit as per Cost and Financial Accounts (under Non-Integrated Accounting System)

Methods of Costing

Single Output/ Unit Costing

Job Costing

Job cost cards and databases, collecting direct costs of each job, attributing overheads to jobs, Application of job costing.

Batch Costing

Determination of optimum batch quantity, Ascertainment of cost for a batch, Preparation of

batch cost sheet, Treatment of spoiled and defective work

Process/Operation Costing

Process cost recording, Process loss, Abnormal gains and losses, Equivalent units of

production, Inter-process profit, and Valuation of work in process.

Joint Products-Apportionment of joint costs, Methods of apportioning joint cost over joint Products.

By-Products-Methods of apportioning joint costs over by-products, treatment of By-Product cost

Costing of Service Sectors

Determination of Costs and Prices of services

Standard Costing

Setting up Standards, Types of Standards, and Standard Costing as a method of performance Measurement.

Calculation and Reconciliation of Material Cost, Labour cost, Variable Overhead, Fixed Overhead.

Cost Control and Analysis

Marginal Costing

Basic concepts of marginal costing, Contribution margin, Break-even analysis, Break–even and profit volume charts, Contribution to sales ratio, Margin of Safety, Angle of Incidence,

Cost-Volume-Profit Analysis (CVP).

Determination of Cost of a product/ service under marginal costing method, determination of

cost of finished goods, work-in-progress.

Comparison of Marginal costing with absorption costing method- Reconciliation of profit under both methods.

Short-term decision-making:

Make or buy decision

Discontinuation decision

Multiproduct break-even analysis

Limiting factor (key factor)

Budget and Budgetary Control

Meaning of Budget, Essentials of Budget, Budget Manual, Budget setting process, Preparation of Budget and monitoring procedures.

The use of budget in planning and control.

Flexible budget, Preparation of Functional budget for operating and non-operating functions

Cash budget, Master budget.

Introduction to Principal/ Key budget factor Zero Based Budgeting (ZBB), Performance budget, Control ratios, and Budget variances.

Budgets and motivation.

Feedback and Feedforward controlling in budgeting

CA Intermediate New Syllabus 2024 Paper 5: Auditing and Ethics

The CA Intermediate New Syllabus 2024 for auditing aims to teach you auditing concepts, techniques, and ethical principles.

CA Intermediate New Syllabus 2024: Auditing and Ethics

Topics

Sub Topics

Nature, Objective, and Scope of Audit

Auditing Concepts:

Origin of Auditing,

Meaning of Audit,

Need for Audit (Benefits of Audit), Objective of the Audit, Scope of Audit, External Audit engagements,

Qualities of Auditor

Inherent Limitations of an Audit; Relationship of auditing with other disciplines.

(SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing)

Audit Strategy, Audit Planning and Audit Program:

The auditor’s responsibility to plan an audit of financial statements. Benefits of audit planning.

Planning is a continual and iterative process.

Discussion of elements of planning with the entity’s management.

Involvement of Key Engagement Team Members in planning the audit. Preliminary engagement activities.

The auditor’s consideration of client continuance and ethical requirements. Planning activities.

Establishing an overall audit strategy- Assistance for the auditor. Development of audit plan.

Documenting the overall audit strategy and audit plan; Audit program.

Development of Audit Plan and Program

Risk Assessment and Internal Control:

Audit Risk.

Risk of Material Misstatement, Inherent Risk and Control Risk, and Detection Risk.

Sampling and Non-Sampling Risk.

Concept of Materiality, Materiality in Planning and Performing an Audit.

The auditor’s responsibility to apply the concept of materiality.

An auditor’s determination of materiality is a matter of professional judgment. Materiality and Audit

Risk.

Application of materiality in planning and performing the audit. Concept of Performance Materiality.

Determining materiality and performance materiality when planning the audit.

Use of Benchmarks in determining materiality for the financial statements as a whole. Materiality level or levels for particular classes of transactions, account balances, or disclosures.

Revision in materiality as the audit progresses. Documenting the Materiality.

(SA 320 Materiality in Planning and Performing an Audit).

Identifying and Assessing the Risk of Material Misstatement, Risk Assessment procedures.

Understanding the entity and its environment; Internal control.

Documenting the Risks.

Evaluation of internal control system.

Testing of Internal control; Internal Control and IT Environment (SA 315 Identifying and Assessing the

Risks of Material Misstatement Through Understanding the Entity and Its Environment).

Digital Audit

Key features

Impact of IT-related Risks

Impact on Controls

Internal Financial Controls as per Regulatory requirements

Types of Controls

Audit approach

Understanding and documenting Automated environment

Testing methods, data analytics for audit, assessing and reporting audit findings.

Audit Evidence

Meaning of Audit Evidence.

Relevance and Reliability of Audit Evidence

Sufficient appropriate audit evidence

Meaning of Assertions

Assertions contained in the Financial Statements. Source of audit evidence

Test of controls

Substantive Procedures- Test of details and Substantive analytical procedures, Audit procedures for obtaining audit evidence.

Evaluation of Audit Evidence (SA 500 Audit Evidence), Audit Trail

(Using the work of Internal Auditors – SA 610)

Internal audit function.

External Auditor’s Responsibility for the audit, Evaluating the internal audit function.

Basics of Internal Financial Control and reporting requirements. The distinction between Internal Financial Control and Internal Control over Financial Reporting.

Audit Sampling: (SA 530 Audit Sampling). Meaning of Audit Sampling.

Designing an audit sample; Types of sampling (Approaches to Sampling).

Sample Size and selection of items for testing; Sample selection method.

Obtaining evidence of the existence of inventory; Audit procedure to identify litigation & claims.

Obtaining evidence regarding the presentation and disclosure of segment information

(SA 501 Audit Evidence – Specific Considerations for Selected Items)

External confirmation procedures.

Management’s refusal to allow the auditor to send a confirmation request; Negative Confirmations (SA 505 External Confirmations); Audit evidence about opening balances; Accounting policies relating to opening balances; Reporting with regard to opening balances (SA 510 Initial Audit Engagements-Opening Balances)

Meaning of Related Party; Nature of Related Party Relationships & Transactions; Understanding the Entity’s Related Party Relationships & Transactions (SA 550 Related Parties)

Analytical Procedures.

Meaning, nature, purpose, and timing of analytical procedures; Substantive analytical procedures.

Designing and performing analytical procedures prior to Audit.

Investigating the results of analytical procedures (SA 520 Analytical Procedures)

Audit of Items of Financial Statements

Audit of sale of Products and Services; Audit of Interest Income, Rental Income, Dividend Income, Net gain/loss on sale of Investments, etc.

Audit of Purchases, Employee benefits expenses, Depreciation, Interest expense, Expenditure on Power and fuel, Rent, Repair to building, Repair to Machinery, Insurance, Taxes, Travelling Expenses, Miscellaneous Expenses, etc.

Audit of Share Capital, Reserve and surplus, Long-term Term Borrowings, Trade Payables, Provisions, Short-term Term Borrowings, and other Current Liabilities.

Audit of Land, Buildings, Plant and equipment, Furniture and fixtures, Vehicles, office equipment, Goodwill, Brand/Trademarks, Computer Software, etc.

Audit of Loans and advances, Trade Receivable, Inventories, Cash and cash Equivalent, and Other Current Assets. Audit of Contingent Liabilities. (The list of items is illustrative only.)

Audit Documentation

Concept of Audit Documentation

Nature & Purpose of Audit Documentation; Form, Content & Extent of Audit Documentation. Completion Memorandum.

Ownership and custody of Audit Documentation (SA 230 Audit Documentation).

Completion and Review

Meaning of Subsequent Events;

Auditors’ obligations in different situations of subsequent events.

Procedures for subsequent events. (SA 560 Subsequent Events).

Responsibilities of the Auditor with regard to Going Concern Assumption; Objectives of the Auditor

regarding Going Concern.

Events or Conditions that may cast doubt about the Going Concern Assumption.

Audit Procedures when events or conditions are identified (SA 570 Going Concern). Overview and

Introduction of Evaluations of Misstatements identified during the audit (SA 450).

Written Representations as Audit Evidence.

Objective of Auditor regarding Written Representation.

Management from whom Written Representations may be requested.

Audit Report

Forming an opinion on the Financial Statements.

Auditor’s Report- basic elements (SA 700 Forming an Opinion and Reporting on Financial Statements).

Communicating key Audit Matters in the Independent Auditor’s Report (SA 701) Types of Modified Opinion, Circumstances When a Modification to the Auditor’s Opinion is Required, Qualified, Adverse Disclaimer of Opinion (SA 705 Modification to the Opinion in the Independent Auditor’s Report).

SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report.

Nature of Comparative Information.

Corresponding Figure; Comparative Financial Statements (SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements).

Branch audit; Joint audit; Reporting requirements under the Companies Act, 2013, including CARO

Special Features of Audit of Different Types of Entities

Appointment of Auditor,

Audit Procedure and Audit Report in respect of different Category of Entities

Government; Local bodies; Not-for-profit organizations; Trust and Societies, Partnership Firms

Audit of different types of undertakings, i.e., Educational Institutions, Hotels, Clubs, Hospitals, etc.

Basics of Limited Liability Partnerships (LLPs) Audit and Co-operative Societies Audit.

Audit of Banks

Understanding of accounting systems in Banks

Audit Approach

Audit of Revenue items,

Special Consideration in Bank Audit with emphasis on Advances and NPAs

Ethics and Terms of Audit Engagements

Meaning of Ethics. – Ethics is a State of Mind, Need for Professional Ethics.

Principles-based approach v Rules-based approach (Ethical or Legal).

The fundamental principles of Professional Ethics: Integrity;

Objectivity; Professional Competence and Due care; Confidentiality; Professional Behaviour.

Independence of Auditors.

Threats to Independence: Self-interest threats, Self Review threats, Advocacy threats, Familiarity threats, Intimidation threats.

Safeguards to Independence; Professional Scepticism, Terms of Audit Engagements Preconditions for an audit; Audit Engagement

Agreement on Audit Engagement Terms

Terms of Engagement in Recurring Audits (SA 210 Agreeing the Terms of Audit Engagements)

Overview and Introduction of SQC 1 Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information and Other Assurance and Related Services Engagements

Overview and Introduction of SA 220 – Quality Control for an Audit of Financial Statements).

CA Intermediate New Syllabus 2024 Paper 6: Financial Management and Strategic Management

CA Intermediate New Syllabus 2024's Financial Management module instructs on money management, wise financial decisions, and working capital management.

CA Intermediate New Syllabus 2024: Financial Management and Strategic Management

Topics

Sub Topics

SECTION A: FINANCIAL MANAGEMENT

Financial Management and Financial Analysis

Introduction to Financial Management Function

Objective and scope of financial management

Profit Maximisation, Wealth Maximisation and Value Creation

Role of Financial Manager and Financial Controller

Financial management environment

Functions of finance executives in an organization

Financial distress and insolvency

Financial Analysis through Ratios

Users of financial analysis.

Sources of financial data for analysis.

Calculation and Interpretation of ratios.

Limitations of ratio analysis

Financing Decisions and Cost of Capital

Sources of Finance

Different Sources of Finance, Characteristics of different types of long-term debt and equity

finance, Method of raising long-term finance.

Different Sources of Short-term Finance.

Contemporary sources of funding- P2P lending, Equity funding, Crowdfunding, Start-up funding, etc.

Internal funds as a source of finance.

International sources of finance

Other sources of finance- Lease Financing, Sale and leaseback, Convertible debt, Venture capital, Grants, etc.

Cost of Capital

Significance of cost of capital

Factors of cost of capital

Measurement of costs of individual components of capital

Weighted average cost of capital (WACC)

The marginal cost of capital.

Capital Structure Decisions

Significance of capital structure

Determinants of capital structure

Capital structure planning and designing

Designing of optimum capital structure.

Theories of Capital Structure and Value of the firm-relevancy and Irrelevancy of Capital Structure

EBIT- EPS Analysis, Breakeven- EBIT Analysis.

Under/ Over Capitalisation

Leverages

Types of Leverages- Operating,

Financial and Combined. Analysis of leverages.

Capital Investment and Dividend Decisions:

Capital Investment Decisions:

The objective of capital investment decisions

Methods of Investment Appraisal

Payback period, Discounted payback period.

Accounting Rate of Return (ARR).

Net Present Value (NPV) – The meaning of NPV, Strengths, and limitations of NPV method, The working capital adjustment in NPV analysis, Capital rationing, and Equivalent Annual Costs.

Internal Rate of Return (IRR)- Limitations of the IRR method, Multiple IRRs.

Modified Internal Rate of Return (MIRR)- Definition and explanation of MIRR, Process for calculating MIRR, Strengths of the MIRR approach. – Profitability Index

Dividend Decisions

Basics of Dividends.

Cash dividend, stock dividend/ bonus share, stock splits, share buyback.

Determinants of dividend.

Relevancy and Irrelevancy of Dividend Policies- Traditional Approach, Walter’s model, Gordon’s model, Modigliani and Miller (MM) Hypothesis

Management of Working Capital:

The management of working capital- Liquidity and Profitability.

The Working capital financing decisions- Primary and Secondary Sources of Liquidity.

The Working Capital Cycle (Operating Cycle) is the effectiveness of Working Capital based on its operating and cash conversion cycles.

Assessment of working capital requirement.

Management of Accounts Receivables (Debtors).

Factoring and Forfaiting.

Credit Management:

– Credit granting.

– Monitoring accounts receivables.

– Debt collection.

Management of Accounts Payables (Creditors). Management of Cash and treasury management.

Banking norms of working capital finance

SECTION B: STRATEGIC MANAGEMENT (50 MARKS)

Introduction to Strategic Management

Meaning and Nature of Strategic Management.

Importance and Limitations of Strategic Management.

Strategic Intent – Vision, Mission, Goals and Values.

Strategic Levels in Organizations (Network, Corporate, Business and Functional)

Strategic Analysis: External Environment

International and Macro Environment: PESTLE

Analysis. Defining the industry for analysis (Value Chain, PLC).

Porter’s Five Forces – Industry environment analysis.

Understanding customers and markets.

Competition in the industry

Strategic Analysis: Internal Environment

Understanding key stakeholders (Mendelow’s Model).

Strategic drivers (Industry & markets, Customers, Channels, Products & Services, Competitive

Advantage).

The role of resources and capabilities.

Combining external and internal analysis (SWOT Analysis).

Gaining competitive advantage (Michael Porter’s Generic Strategies).

Strategic Choices

Strategic Choices: Concentric, Conglomerate, Market Development, Product Development, Innovation, Horizontal integration, vertical integration, Turnaround, Divesture, Liquidation.

How to Develop Strategic Options:

Ansoff’s Matrix

ADL Matrix

BCG Matrix

GE Matrix

Strategy Implementation and Evaluation

Implementation: Formulation vs. Implementation Matrix, Linkages and Issues.

Strategic Change through Digital Transformation.

Organization Structure (hard) and Culture (soft).

Strategic Leadership.

Strategic Control

Strategic Performance Measures

Conclusion

The updated CA Intermediate syllabus for 2024, as released by ICAI, reflects the evolving landscape of the accounting profession. Scanner CA Intermediate Books are the best for students willing to give the CA Intermediate May 2024 exam. It incorporates contemporary topics, aligning with international standards and technological advancements. With a focus on practical skills and holistic development, the revised syllabus aims to equip aspiring chartered accountants with the competencies needed to thrive in a dynamic global market. These changes mark a significant step towards ensuring relevance and excellence in accounting education.

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scannerca-0 · 9 months ago

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Is 70 Days enough to Clear the CA Final Group 1 from Scratch ?

1. Understand the Syllabus and Prioritize

The first step is to thoroughly understand the syllabus for CA Final Group 1. The group covers four key subjects:

Financial Reporting

Strategic Financial Management (SFM)

Advanced Auditing and Professional Ethics

Corporate and Economic Laws

2. Create a Detailed Study Plan

Focus: Core Subjects Overview

Day 1-2: Review Subject 1 - Read through main topics and key chapters.

Day 3-4: Practice questions from the CA Final scanner for Subject 1.

Day 5-6: Review Subject 2 - Focus on important chapters and concepts.

Day 7: Practice questions from the CA Final scanner for Subject 2.

Weeks 3-4:

Focus: Deep Dive into Subjects

Day 8-10: Study Subject 1 in detail - Major topics and past papers.

Day 11-13: Practice questions from the CA Final scanner for Subject 1.

Day 14: Revision of Subject 1.

Day 15-17: Study Subject 2 in detail - Major topics and past papers.

Day 18-20: Practice questions from the CA Final scanner for Subject 2.

Day 21: Revision of Subject 2.

Weeks 5-6:

Focus: New Subjects and Integration

Day 22-24: Study Subject 3 - Main topics and key areas.

Day 25-27: Practice questions from the CA Final scanner for Subject 3.

Day 28: Revision of Subject 3.

Day 29-31: Study Subject 4 - Major topics and focus areas.

Day 32-34: Practice questions from the CA Final scanner for Subject 4.

Day 35: Revision of Subject 4.

Weeks 7-8:

Focus: Mock Exams and Revision

Day 36-38: Take mock exams for Subjects 1 and 2.

Day 39-40: Review and analyze mock exam results for Subjects 1 and 2.

Day 41-43: Take mock exams for Subjects 3 and 4.

Day 44-45: Review and analyze mock exam results for Subjects 3 and 4.

Weeks 9-10:

Focus: Final Revision and Exam Strategy

Day 46-48: Revise all subjects with a focus on weaker areas.

Day 49-51: Final practice with CA Final scanner questions for all subjects.

Day 52-53: Take full-length mock exams and analyze results.

Day 54-56: Adjust study focus based on mock exam results.

Weeks 11-10:

Focus: Final Preparation

Day 57-59: Intensive revision of key topics and weak areas.

Day 60-62: Review important formulas, concepts, and CA Final scanner summaries.

Day 63-65: Take final mock exams to gauge preparedness.

Day 66-68: Review mock exam results and refine strategy.

Day 69-70: Relax and ensure you’re well-rested for the exam day.

3. Focus on Conceptual Clarity

4. Practice, Practice, Practice

5. Maintain Discipline and Stay Positive

to ensure you cover all necessary material. Take short breaks to recharge, but ensure they don't derail your focus.

6. Revise Regularly

Conclusion

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sbtstudybytech · 2 years ago

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CA Foundation Syllabus 2024

To thrive in the continuously evolving financial business, aspiring chartered accountants need more than just academic knowledge; they also need a curriculum that keeps up with the changes. Here, the CA Foundation curriculum is relevant. We'll go through the essential points of the CA Foundation course outline in this blog article and introduce you to Studybytech, a company that specializes in providing top-notch CA training. In addition, Studybytech is already accepting applications for its class of 2024 CA Foundation students, which we are thrilled to announce!

CA Foundation New Syllabus 2024

In the new syllabus of CA Foundation 2024, under the New ICAI Scheme, the following papers have been included:

Accounting

Business Law

Quantitative Aptitude New ICAI Scheme

Part A: Business Mathematics

Part B: Logical Reasoning

Part C: Statistics

Business Economics

Detailed CA Foundation Syllabus Under New Scheme 2024

Paper 1 Accounting

Objective: To develop an understanding of the basic concepts and principles of accounting and apply the same in preparing financial statements and simple problem-solving.

Topics

Sub Topics

Theoretical Framework

Meaning and Scope of Accounting

Accounting concepts, principles, and conventions.

Capital and revenue expenditure, capital and revenue receipts, contingent assets, and contingent liabilities

Accounting Policies.

Accounting as a measurement discipline – valuation principles, accounting estimates. Accounting Standards-concepts and objectives.

Accounting Process

Recording accounting transactions: principles of double entry bookkeeping, books of original entry journal, subsidiary books, cash book, ledger format,posting from journals and subsidiary books, balancing accounts.

Preparation of the Trial Balance

Rectification Of Errors

Bank Reconciliation Statement

introduction, reasons, and preparation of bank reconciliation statement

Inventories

Meaning, basis and technique of inventory valuation, cost of inventory, net realisable value and record system

Depreciation and amortization

Tangible and intangible assets: meaning & difference, concepts, methods of computation and accounting treatment of depreciation and amortization, change in depreciation method

Bills of Exchange and Promissory Notes

Meaning of bills of exchange and promissory notes and their accounting treatment; accommodation bills

Preparation of Final accounts of Sole Proprietors

Elements of financial statements, closing adjustment entries, trading account, profit and loss account, and balance sheet of manufacturing and non-manufacturing entities

Financial Statements of Not-for-Profit Organizations

Significance and preparation of receipt and payment account, income and expenditure account and balance sheet; difference between profit and loss account, and income and expenditure account

Accounts from Incomplete Records (excluding preparation of accounts based on ratios)

Partnership And LLP Accounts

Final accounts of partnership firms and LLP.

Admission, retirement, and death of a partner including the treatment of goodwill.

Dissolution of partnership firms and LLPs, including piecemeal distribution of assets

Company Accounts

(definition of shares and debts)

Issue shares And debts; forfeiture of shares, reissue of forfeited shares

Redemption of preference shares and debentures (excluding the purchase and redemption of own debentures by the sinking fund method)

Accounting for Bonus Issue and Right Issue

Paper 2 Business Law

Objective: To develop general legal knowledge of the law of Contracts and sales and an understanding of various forms of businesses and their functioning to regulate the business environment and to acquire the ability to address basic application-oriented issues

Topics

Sub-Topics

Indian Regulatory Framework

Major Regulatory Bodies such as the Ministry of Finance, Ministry of Corporate Affairs, SEBI, RBI, IBBI, Ministry of Law and Justice, etc.

The Indian Contract Act, 1872

General Nature Of Contract, Consideration, Other essential elements of a valid Contract Performance Contract, Breach Of Contract, Contingent and Quasi Contract, Contract of Indemnity and Guarantee Contract of Bailment and Pledge, Contract of Agency

The Sale of Goods Act, 1930

Formation of the contract of sale, conditions and warranties, transfer of ownership and delivery of goods, unpaid seller and his rights

The Indian Partnership Act, 1932

General Nature of Partnership, Rights and Duties of partners, Reconstitution of firms, Registration and Dissolution of a firm

The Limited Liability Partnership Act, 2008

Introduction-covering nature and scope, Essential features, Characteristics of LLP, Incorporation, and Differences with other forms of organizations

The Companies Act, 2013

Essential features of company, Corporate veil theory, Classes of companies, Types of share capital, Incorporation of company, Memorandum of Association, Articles of Association, Doctrine of Indoor Management

The Negotiable Instruments Act, 1881

Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Presentation of Instruments, Rules of Compensation

Paper 3 Quantitative Aptitude

Objective:

To develop an understanding of the basic mathematical and statistical tools and apply the same in business, finance, and economic situations.

To develop logical reasoning skills.

Topics

Sub-Topics

Part A: Business Mathematics

Ratio and proportion, Indices and Logarithms

Ratio and proportion, and Time and work-related problems, Laws of inequalities, Exponents and antilogarithms

Equations

Linear equations up to variables, quadratic equations, and cubic equations—in one variable Applications in Business Related Problems

Linear Inequalities

Linear Inequalities in one and two variables and the solution space

Mathematics of Finance

Simple Interest

◦ Compound Interest

◦ Nominal and Effective Rate of Interest

◦ Present Value

◦ Net Present Value

◦ Future Value

◦ Perpetuity

◦ Annuities

◦ SinkingFunds

◦ Calculating EMI

Calculations of Returns: Nominal and Effective Rate of Return

Compound Annual Growth Rate (CAGR)

Permutations and Combinations

Basic concepts of Permutations and combinations: Introduction, the factorial, permutations, results, circular permutations, permutations with restrictions, Combinations With standard results

Sequence and Series

Introduction Sequences, Series, Arithmetic and Geometric progression, Relationship between AM and GM and Sum of terms of special series and Business Applications

Sets, Relations, and Functions. Basics of Limits and Continuity Functions

Basic applications of Differential and Integral calculus in Business and Economics (Excluding the trigonometric applications)

Part B: Logical Reasoning

Number series coding and decoding, odd man out, Direction Tests, Seating Arrangements, Blood Relations

Part C: Statistics

Statistical Representation of Data

Diagrammatic representation of data, Frequency Distribution, Graphical representation of Frequency Distribution—Histogram, Frequency Polygon, Ogive, Pie-chart

Sampling

Basic principles of sampling theory, Comparison between sample surveys and complete enumerations, some important terms associated with sampling types, sampling errors, and non-sampling errors

Measures of Central tendency and Dispersion

Mean Median, Mode, Mean Deviation, Quartiles and Quartile Deviation Standard Deviation, Coefficient of Variation, and Coefficient of Quartile Deviation

Probability

Independent and dependent events; mutually exclusive events Total and Compound Probability and Bayes Theorem

Theoretical Distributions

Random variables, Discrete and Continuous Random variables, Expectation of a discrete random variable, Theoretical Distributions: Binomial Distribution, Poisson distribution–basic application and Normal Distribution–basic applications

Correlation and Regression

Scatter diagram, Karl Pearson’s Coefficient of Correlation Rank Correlation, Regression lines, Regression equations, and regression coefficients

Index Numbers

Uses of Index Numbers, Problems Involved in the Construction of Index Numbers, and Methods of Construction of Index Numbers BSE SENSEX NSE

Paper 4 Business Economics

Objective: To develop an understanding of the concepts and theories of Economics and to acquire the ability for address application-oriented issues

Topics

Sub Topics

Introduction to Business Economics

Meaning and scope of business economics

Basic Problems of an Economy and the Role of Price Mechanism

Theory of Demand and Supply

Meaning and Determinants of Demand, Law of Demand and Elasticity of Demand – Price, Income and Cross Elasticity.

Theory of Consumer’s Behaviour –Indifference Curve approach.

Meaning and Determinants of Supply, Law of Supply and Elasticity of Supply, Market Equilibrium and Social Efficiency

Theory of Production and Cost

Meaning and Factors of Production, Short Run and Long Run

Law of Production—The Law of Variable Proportions and Laws of Returns to Scale—Producer's Equilibrium

Concepts of Costs – Short-run and long-run Costs; Average and Marginal Costs, Total, Fixed, and Variable Costs

Price Determination in Different Markets

Market Structures: Perfect Competition, Monopoly and Monopolistic Competition Using Game Theory to Study Oligopoly

Price determination in these markets

Price- Output Determination under Different Market Forms

Determination of National Income

Macro Economic Aggregates and Measurement of National Income

Determination of National Income: Keynes’ Two Sector Basic Model, Three Sectors and Four Sectors Models

Business Cycles

Meaning, Phases, Features, Causes behind these Cycles

Public Finance

Fiscal functions: overview, center, and state finance

MarketFailure/Government Intervention to Correct Market Failure

Process of budget making: sources of revenue, expenditure management, and management of public debt

FiscalPolicy

Money Market

Concept of Money Demand

Important theories of Demand for Money

Concept of Money Supply, Cryptocurrency Another New Terminology

Monetary Policy

International Trade

Theories of International Trade, including theories of intra-industry trade, Krugman

TradePolicy–TheInstrumentsofTradePolicy.

trade negotiations.

ExchangeRatesanditseconomiceffects.

International Capital Movements: Foreign Direct Investment

Indian Economy

Before 1950- Chanakya and Nand Vansh

OECDPaper (1950-1991),

Basic knowledge, 1991 Onwards

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