Final Course is the last level of C.A. Course. After qualifying both the groups of Intermediate course, student can get registered for C.A. Final Course. Candidate can appear in C.A. Final examination during last 6 months of practical training. But before appearing in C.A. Final exam, one has to successfully complete four weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of practical training.
Paper 1 : Financial Reporting (Maximum 100 Marks )
It covers existing Accounting Standards (ASs) 15, 21, 23, 25, 27 and 28, Accounting Standards interpretations, Framework for preparation and presentation of Financial Statements in accordance with Indian Accounting Standards, Application of Ind AS with reference to general purpose Financial Statements, application of IFRS & US GAAP, Corporate Financial Reporting, Accounting for consolidated Financial Statements of Group Companies, Share Based Payments, Carbon Credits, E-commerce, Common defects in Financial Statements, Corporate Social Reporting, Human Resource Reporting, Integrated Reporting and Value Added Statements etc.
Paper 2 : Strategic Financial Managment (Maximum 100 Marks )
It Covers important concepts relating to Strategic decision making, financial policy, Risk evaluation & its classification, value at Risk (VAR) Security analysis, and its Valuation, Portfolio analysis, Capital Market theory, Securitization, Mutual funds, Derivatives, Foreign exchange, international financial management, etc.
Paper 3 : Advanced Auditing & Professional Ethics (Maximum 100 Marks )
It Covers Auditing Standards, Statements, Guidance Notes, Audit plan, Audit Program me and importance of Supervision, Risk Assessment and internal control, Special Aspects of Auditing in an Automated environment, Audit of Limited Companies, Audit Reports, Audit Reports & Certificates for special purpose engagement, Audit committee and corporate Governance, Audit of Consolidated Financial Statements, Special features of Audit of Banks, Insurance & Non - Banking Financial Companies, Audit under fiscal laws, Special audit assignments, Audit of Public Sector undertakings, and concepts related to Professional ethics etc.
Paper 4 : Corporate and Economic Laws (Maximum 100 marks)
This paper has been divided into two parts :
Part I : Corporate Laws (70 Marks) : This has two sections
Section A : Company Law
It Covers the entire provisions and relevant Rules & Regulations of the Companies Act, 2013 regarding appointment and Qualification of Directors, Appointment and remuneration of Managerial Personnel, Meetings of Board and its Power, Inspection, Inquiry and Investigation, Compromise, Arrangement and Amalgamations, prevention of oppression and Mismanagement, Winding up, Producer Companies, Companies incorporated outside India , Compounding offences, adjudication, special Courts, National Company Law Tribunal and Appellate Tribunal etc.
it Covers also Corporate Secretarial Practices like Drafting Notices, Resolutions, Minutes & Reports etc.
Section B : Securities Laws
It includes The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957: introduction and important provisions.
The Securities Exchange Board of India Act, 1992, SEBI (Issue of Capital and Disclosure Requirement) Regulation, 2009 and SEBI (Listing obligations and Disclosure Requirement) Regulations, 2015.
Part II : Economic Laws (30 Marks)
It Covers “ The Foreign Exchange Management Act, 1999, The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Prevention of Money Laundering Act, 2002, Foreign Contribution Regulation Act, 2010, the arbitration and conciliation Act,1996,the Insolvency and Bankruptcy Code, 2016
Paper 5 : Strategic Cost Management and Performance Evaluation (Maximum 100 marks)
It contains concept of Strategic Cost Management, Limitations of Traditional Cost Management, Characteristics of the Modern Business Environment, Cost of Quality, TQM, Supply Chain Management, J/T, Kaizen Costing, Total productive - Maintenance, Six Sigma (SS), Cost Control, Cost Reduction, Pareto analysis, value Analysis, Life Cycle Costing, Power Sector, Relevant Costing, ABC Costing, Theory of Product Pricing, Pricing - New Product, Sensitivity analysis, Pricing Strategies, Transfer pricing, Responsibility Accounting, Budgetary Control, Standard Costing, and Application of few Quantitative Techniques like Linear Programming, Learning curve / Experience Curve.
Paper 6A : Risk Management (Maximum 100 marks)
It includes the concept of Risk, Risk and uncertainty; Distinction, classification of risks, Dynamic Nature of Risks, Types of Risk, Sources and Evaluation of Risks, Concept of Risk Management, objective and process of Risk Management, Risk Management Techniques, Quantitative analysis, Risk Model, Credit Risk Measurement and Management, Risks associated with Corporate Governance, Enterprise Risk Management, Operational Risk Management etc.
Paper 6B : Financial Services and Capital Markets (Maximum 100 marks)
It contains information to Global Financial Market, Role of Financial Market in Economic Development, Indian Financial Market Schenario, Credit policy of R.B. I, Fed Policy, Inflation Index, CPI, WPI etc. Primary Capital Market, Secondary Capital Market, Money Market ( CRR, SLR, MIBOR, LIBOR etc.), Institutions and Intermediaries, Commodity market, Banking - Management, Mutual Fund etc.
Paper 6C : International Taxation (Maximum 100 marks)
It Covers various concepts of Transfer pricing Provisions under the Income Tax Act, 1961, like concept of Arm’s length price, international transactions, functions, Assets and Risk Analysis, Documentation & Compliances, other provisions relating to taxation of international transactions and Non - resident taxation under the Income tax Act, 1961, Non - resident taxation, Double taxation relief and Advance - Ruling, Law and procedures under the Black Money (Undisclosed Foreign Income and Assets) and imposition of Tax Act, 2015, other Aspects of International taxation - Model tax conventions, tax treaties, Application and interpretation, Anti Avoidance Measures, Taxation of E-Commerce transactions.
Paper 6D : Economic Laws (Maximum 100 marks)
It Covers entire coverage of WTO (World Trade Organization) Comprising of its Role, Principles, Functions and Dispute Settlement Mechanism, Competition Act, 2002 and its Rules & Regulations, Real Estate Act, 2016, Insolvency and Bankruptcy Code, 2016, Prevention of Money Laundering Act, 2002 and Rules / Regulations, Foreign Exchange Management Act, 1999 and Rules / Regulations, Prohibition for Benami Property Transactions Act, 1988 and Rules & Regulations.
Paper 6E : Global Financial Reporting Standards (Maximum 100 marks)
It Covers the key concepts and Principles of International Financial Reporting Standards, Conceptual framework for Financial Reporting as per IFRS, Application of financial Reporting Standards, Significant Differences between IFRS and US GAAPS.
Paper 6F : Multi Disciplinary Case Study
This paper will include case studies covering the following areas :-
Paper 7 : Direct Tax Laws & International Taxation (Maximum 100 marks)
Part I : Direct Tax Laws (70 Marks)
It Covers the entire Law and procedure under the Income Tax Act, 1961 - Basis of charge, Residential status, different Heads of Income, Provisions relating to clubbing of Income, set-off and carry forward of Losses, Provisions relating to companies & persons other than Companies, Tax Planning Tax Avoidance, Tax evasion, T.D.S %, Refund, Assessment Procedure, Settlement of tax cases, penalties, offences & Prosecution ,Liability in special cases, etc.
Part II : International Taxation (30 Marks)
It Contains the provisions relating to taxation of International transactions and Non - residents, Double taxation relief, Advance rulings, Overview of Model tax conventions, tax treaties etc.
Paper 8 : Indirect Tax Laws (Maximum 100 marks)
Part I : Goods and Services Tax (75 Marks)
It Covers the entire provisions, Rules & Regulations, Notifications of the Central Goods and Services tax (CGST) Act, 2017 and Integrated Goods and Services tax (IGST) Act, 2017. It contains concepts related to Levy & Collection of CGST, IGST, Place of Supply, Time and value of supply, Input tax credit, Computation of GST Liability, Provisions relating to electronic commerce, Administration of GST, Assessment & Audit, Demand & Recovery,Appeals & Revisions etc.
Part II : Customs & FTP (25 Marks)
It Covers the entire provisions, Notifications of the Customs Act, 1962 and the customs Tariff Act, 1975 regarding Levy & Exemption from Custom Duties, its types, Classification and Valuation of import and export, Import and export procedures, provisions relating to coastal Goods and Vessels Carrying Coastal Goods - Warehousing, Drawback, Demand and Recovery, Refund, Provisions relating to Prohibited Goods Notified Goods, specified Goods, illegal importation / exportation of Goods Search, Seizure and other Provisions, and foreign trade policy to the extent relevant to the indirect tax Laws.
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