The new CA Final syllabus for May 2024 onwards brings several changes compared to the old syllabus.
Here are some key updates:
Focus on practical application and contemporary issues:
The syllabus emphasizes understanding and applying concepts to real-world scenarios.
Exemptions
Paper-wise exemption on the basis of securing sixty per cent or more marks: The Council decided to continue to award exemption in a paper or papers to a candidate, granted earlier under Old/Existing Scheme (by virtue of having secured a minimum of sixty percent marks in one or more papers in a Group/s as per the existing criteria for grant of exemption), for the unexpired chance(s) of the exemption in the corresponding paper(s) approved by the Council under New Scheme.
Few changes in each subjects are discussed belongs:
Financial Reporting: Two chapters has been removed from FR, and they are CSR and Integrated Reporting. Some of the additions are Technology and accounting (Ch 17), Ethics with accounting concepts (Ch 16), there is also additional discussion on some existing Ind AS.
Advanced Financial Management: Deeper focus on derivatives, a new chapter added is Advanced Capital budgeting, theoretical concepts are added like role of CFO, Equity research & Tools, Blockchain & tokenization, concept of unicorn along with other additions.
Advanced Auditing, Assurance and Professional Ethics: Inclusion of new auditing standards- SA 800 series, SRE, SRS, SAE, digital auditing and assurance, emerging areas in SDG and ESG assurance. A lot of chapters have also been excluded, some of them are audit of insurance companies, Peer Review and Quality review, Company Audit, Audit committee and corporate governance & audit under fiscal law.
Direct Tax Laws A new chapter on Black Money has been added. Ethics concept has been added along with other few changes. Tax on Salary and house property income has been excluded.
Indirect Tax Laws: Focus on Ethics In GST has been added whereas duty drawback and constitutional provisions of GST has been removed.
Integrated Business Solutions: This new paper combines elements of Strategic Cost and Performance Management, Financial Reporting, and Advanced Strategic Management.
Self-Paced Online Modules
Self-Paced Online Modules (SPOMs) are another critical aspect of the new CA Final syllabus, and deserve their own space in the discussion. Here’s what you need to know:
What are SPOMs? SPOMs are self-study modules developed by the ICAI, covering specific topics within Corporate & Economic Laws (Set A) and Strategic Cost & Performance Management (Set B). Passing the online exams based on these modules is mandatory for appearing in the CA Final exams starting May 2024.
Key features of SPOMs: Flexible learning: You can study at your own pace and convenience, accessing the modules online anytime, anywhere.
Comprehensive content: The modules cover the topics in detail, with illustrations and case studies. Interactive platform: You can take quizzes, practice MCQs, and access discussion forums for peer interaction and clarification of doubts.
Changes introduced in SPOMs:
New modules: Set A now includes chapters on Insolvency & Bankruptcy Code, Company Law, and Securities Law. Set B focuses on Strategic Cost Management, Performance Management, and Business Analytics.
Updated content: Existing modules have been revised to reflect the latest legal and regulatory changes.
Emphasis on application: The focus is on understanding and applying concepts to real-world scenarios.
The new syllabus emphasizes multi-disciplinary case studies, encouraging holistic understanding and integration of knowledge.
Please refer to the official ICAI website or reliable academic resources for the detailed new syllabus document and latest updates.
These are just some of the key changes in the CA Final syllabus 2024. I recommend you thoroughly review the official syllabus document and consult with your teachers or mentors for comprehensive guidance on adapting to the new scheme.
Remember, staying informed about these changes and proactively adapting your study approach is crucial for success in the new CA Final curriculum.
