CA COURSE SYLLABUS UPDATIONS 2024: EVERYTHING YOU NEED TO KNOW
The CA course is the most sought-after option for students worldwide as it is considered one of the prestigious professional courses with a higher esteem. Numerous students and working professionals enrol each year to become Chartered Accountants. The Chartered Accountancy (CA) program in India is overseen by the Institute of Chartered Accountants of India (ICAI).
Starting your CA journey right after the 12th grade allows you to build a successful career early on. The CA program is open to students from all academic backgrounds, helping them step into the world of finance and develop the skills needed to become industry leaders.
In this blog, we delve into the most important part of preparing for CA exams: the CA course syllabus. The CA curriculum often gets altered by the ICAI, with which the candidate should have a clear understanding that will help you frame study plans.
CA Course Levels
The course has three levels: CA Foundation, Intermediate, and Final. Each level includes exams and practical training, and it typically takes about 4-5 years to earn the respected designation. The CA course syllabus is categorised into different groups from the Intermediate and Final levels and the Foundation level is exempted from the group system.
CA Foundation
The CA foundation is the first level to be cleared successfully by a candidate aspiring to acquire the prestigious certification. Any student who is preparing for the 12th std exams or has completed the 12th grade can register for the exams. This subject aims to help students grasp accounting basics, auditing principles, and related concepts. It’s an inclusive program, welcoming students from any academic background. If you’re a graduate or postgraduate, you can skip the CA Foundation and go straight to the next level. The CA Foundation Course lasts about 6 months, Commerce students need at least 50%, while Science students should have a minimum of 55% in their exams to attempt the Foundation level.
CA Intermediate
The second level in the CA curriculum is the Intermediate level, aspirants who have cleared the Foundation exams or hold a graduation or post-graduation can join this level. The intensity of the curriculum and the most discussed group system of the CA curriculum start from this level. CA Intermediate syllabus is divided into two groups, each comprising three subjects, with each subject carrying 100 marks.
Articleship
It is a mandatory Two-year practical training program for aspiring CA candidates. This training program aims to provide hands-on experience in accounting, taxation, finance, and auditing to candidates. If the candidate has cleared the Intermediate level exam conducted by the Institute of Company Secretaries of India or Institute of Cost Accountants of India, they are eligible for ICAI Articleship. Candidates also need to complete a mandatory 15-day orientation program conducted by ICAI. Until 2023 the duration of CA Articleship was 3 years and with the updations in the CA course syllabus in 2024 the duration of Articleship was reduced to 2 years.
CA Final
Any student who is ready to attempt the CA Final exams must have successfully cleared both groups in the CA Intermediate level and should have completed an Articleship training of 2 years. The final level is the last step to reach the esteemed position of a Chartered Accountant, this level is also based on the group system.
CA Foundation Syllabus 2024: Papers to be attempted
- Paper 1: Accounting
This paper is meant to help you better understand basic accounting concepts and principles. It will equip you with the skills to create financial statements, tackle basic accounting tasks, and handle common challenges in accounting.
- Paper 2: Business Laws
The key objective of this paper is to help students understand crucial aspects of specific business laws and equip them to tackle real-world issues related to these laws.
- Paper 3: Quantitative Aptitude
This part is designed to assist you in developing an understanding about the basic Mathematical and statistical tools which should be applied in business, finance and different economic scenarios. It also aims to improve your logical reasoning skills and apply them to solve problems that may arise in your professional journey
The syllabus is divided into three major areas:
Business Mathematics
Logical Reasoning
– Statistics
- Paper 4: Business Economics
The primary goal is to aid your understanding of essential concepts and theories in Business Economics, enabling you to apply them to solve practical problems in everyday scenarios
CA INTERMEDIATE Syllabus 2024: Papers to be attempted
The CA Intermediate syllabus is divided into two groups, each comprising three subjects, with each subject carrying 100 marks. The subjects are as follows:
GROUP 1
- Paper 1: Advanced Accounting
To develop an understanding of the legal provisions and acquire the ability to analyze and apply the laws in practical situations.
- Paper 3 Taxation
The objective of the paper is to develop an understanding of the provisions of income-tax law and to acquire the ability to apply such provisions to solve problems and address application-oriented issues.
Group 2
- Paper 4: Cost & Management Accounting
This course aims to inculcate a solid understanding of the fundamental concepts and their practical applications in finding the costs incurred in production and service provision. It further intends to familiarise students with cost accounting statements and equip them with the skills to utilize this information for cost ascertainment, planning, control, and decision-making. The application of costing methods for diverse purposes and the use of appropriate techniques to support short-term decisions are essential aspects emphasized in this comprehensive learning journey.
- Paper 5: Auditing & Assurance
The major objective of this paper is to develop an understanding of the concepts in auditing and of the generally accepted auditing procedures, techniques, and skills and acquire the ability to apply the same in audit and attestation engagements.
- Paper 6: Financial Management & Strategic Management
Section A: Financial Management
This course enhances a comprehensive understanding of Financial Management, enabling the candidates to apply their knowledge effectively in financial decision-making processes. It covers essential finance functions, including financing decisions, investment decisions, and dividend decisions.
Section B: Strategic Management
The major objective is to develop an understanding of strategic management concepts and techniques and acquire the ability to apply the same in business situations.
CA FINAL Syllabus 2024: Papers to be attempted
This is the final level of the CA course syllabus, this level is also divided into two groups with 3 papers in each group.
Group 1
- Paper 1 Financial Reporting
This course is designed to equip individuals with the skills to effectively handle practical challenges related to Indian Accounting Standards (Ind AS). Participants will develop the ability to integrate and solve problems in real-world situations, determining appropriate accounting treatment and formulating suitable accounting policies. The program seeks to foster an understanding of specific Accounting Standards, allowing individuals to adeptly navigate scenarios where treatment differs between standards.
- Paper 2 Advanced Financial Management
To acquire the ability to apply financial management theories and techniques in strategic decision-making
- Paper 3 Advanced Auditing, Assurance, and Professional Ethics
The prime objective of this paper is to gain the ability to analyze current auditing practices and procedures and apply them in auditing engagements and also to develop the ability to solve cases relating to audit engagements.
- Paper 5 Direct Tax Laws and International Taxation
This course aims to empower individuals with the skills to analyse and interpret direct tax laws effectively. It focuses on recommending optimal solutions for practical problems in a tax-efficient manner. Overall, the goal is to equip learners with practical insights and abilities in navigating the complexities of tax regulations and international transactions.
- Paper 6 Integrated Business Solutions
The paper equips the candidate to analyse and integrate the concepts, principles, and provisions of accounting, auditing, taxation, corporate laws, finance, and business strategy and management to address issues in practical case scenarios.
SELF-PACED ONLINE MODULES in CA Course Syllabus
In the current dynamic economic scenario, it is critical for the Institute to devise a new approach for developing, updating, and delivering professional accountancy education and training. The process of developing a chartered accountant must centrally involve critical and interdisciplinary thinking, research, and innovation.
Accordingly, four self-paced online modules [SETS A, B, C, and D] encompassing different fields, have been introduced in the Scheme of Education and Training. As the name suggests, a student can learn and qualify the modules at their own pace after qualifying for the Intermediate level Examination.
SET A and SET B would comprise of mandatory online modules, namely, Corporate and Economic Laws and Strategic Cost and Performance Management, respectively. SET C and SET D would comprise online modules, wherein a basket of options would be made available to a student, and he can choose one under each set from the options available to him.
SET A : Corporate and Economic Laws
SET B : Strategic Cost and Performance Management
SET C: Elective (Opt for any one of the below options)
SET D : (Opt for any one of the below options)
Are the Updations in CA Syllabus 2024 Beneficial For Students?
In conclusion, the CA syllabus for 2024 is carefully designed to prepare you for a successful career in accounting and finance. With its three levels—Foundation, Intermediate, and Final—the course covers essential topics and provides practical experience to help you master the skills needed to excel as a Chartered Accountant. Whether you’re starting after your 12th grade or joining directly at the Intermediate level, this comprehensive syllabus ensures you’re well-equipped to meet the challenges of the profession and achieve your career goals