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CA SYLLABUS 2017 – ICAI OFFICIAL

LATEST UPDATES ON CA SYLLABUS FOR NOV 2017

ICAI released their revised scheme for CA Course for future. They have made the change in all the three levels (Foundation, Inter and Final) compared to previous ones.

ICAI has given a notification about CA New Scheme (CA Course 2017) of Education and Training. ICAI thought that It’s time for changing entire CA Course pattern. So that they announced New CA Course 2016 – a New scheme. Here we given key features of New CA Course 2017 – a New scheme.

Changes in CPT – CPT New Syllabus From 2017

  • The present entrance exam CPT (Common Proficiency Test) has changed to “Foundation Exam”
  • CPT MCQ (Multiple Choice Questions) based exam has changed to Foundation descriptive exam. Now you can register for CPT before 6 months. In new scheme you should register before 9 months.
  • Adequate time gap is given so that students get sufficient time to study since the Foundation Course has been made descriptive. Also, there is an addition of full paper.
  • Foundation Examination will be partly descriptive in nature.
  • At present there are 4 subjects in CPT syllabus. In new scheme there are 6 subjects.
  • ICAI has added two additional papers in Foundation exam (CPT). They are 1. General English for 50 Marks. 2. Business communication for 50 Marks.

CA Course 2016 – Foundation Course (CPT)  syllabus applicable from 2016

Foundation Course: Number of Papers — 4

Paper 1 : Fundamentals of Accounting (100 marks)
Paper 2 : Quantitative Aptitude (100marks)
Paper 3A : Mercantile Law (60 marks)
Paper 3B : General Economics (40 marks)
Paper 4A : General English (50 marks)
Paper 4B : Business Communication (50 marks)

Two papers will be MCQ based papers.

Changes in CA IPCC – IPCC New Syllabus / Scheme 2017

ICAI has announced some changes in CA IPCC syllabus also. Here we are providing Changes from 2016 in CA IPCC Syllabus / Scheme.

  • Present CA IPCC exam has 7 papers. In new scheme there are 8 papers for IPCC exam.
  • Changes in CA IPCC Cost accounting and Financial Management
  • Now costing and Fm exam for 100 Marks. But in new scheme
    • Costing exam for 100 marks (Group – 1)
    • Financial Management exam for 100 marks (Group – 2)
  • Changes in CA IPCC Law Paper
  • Communication of Law paper 20 Marks has removed from CA IPCC Law paper.
  • Business Law of 30 Marks removed from CA IPCC.
  • Marks weightage of Company Act has increased to 60 marks
  • Other laws is for 20 marks and Ethics for 20 marks
  • Changes in CA IPCC Tax exam. Tax paper has divided into 2 parts
    • Direct Tax – 100 Marks (Group – 1)
    • Indirect Tax – 100 Marks (Group – 2)
  • Information Technology and Strategic Management Paper removed from CA IPCC Group – 2 completely.

See below CA IPCC Syallbus From 2016.

Intermediate Course: Number of Papers — 8

Group I

Paper – 1 : Accounting (100 marks)
Paper – 2 : Company Law, Other Laws and Ethics (100 marks)

  • Part – I : Company Law (60 marks)
  • Part – Il : Other Laws (20 marks)
  • Part – Ill : Ethics (20 marks)

Paper – 3 Cost Accounting (100 marks)
Paper- 4 : Direct Taxes (100 marks)

Group II

Paper – 5 : Advanced Accounting (100 marks)
Paper – 6 : Auditing and Assurance (100 marks)
Paper – 7 : Financial Management (100 marks)
Paper – 8 : Indirect Taxes (100 marks)

Changes in CA Final – Final Syllabus / Scheme From 2017 (No longer applicable – Revised scheme has been published by ICAI)

ICAI has announced some changes in CA Final syllabus / scheme also. These changes in CA Final syllabus / scheme applicable from 2016. In new scheme also there are 8 papers for CA Final exam.

  • The subject Information Systems Control and Audit (1SCA) has removed in CA Final syllabus.
  • International Taxation for 40 marks has been added in CA Final syllabus 2016 view of increasing importance of the subject in the present globalized world.
  • A new subject ‘Financial Services and Capital Market’ has been included to make CA more competitive in the finance related areas.
  • The nomenclature Corporate Laws and other Economic Laws has been kept to make the name more representative of the subject.

See below CA Final syllabus / scheme from 2017

CA Final Course: Number of Papers: 8

Group I

Paper – 1 : Financial Reporting (100 Marks)
Paper – 2 : Strategic Financial Management ( 100 Marks)
Paper – 3 : Advanced Auditing and Professional Ethics (100 Marks)
Paper – 4 : Corporate Laws and Other Economic Laws (100 Marks)

Group II

Paper – 5 : Advanced Management Accounting (100 Marks)
Paper – 6 : Financial Services and Capital Markets (100 Marks)
Paper – 7 : Advanced Tax Management (60 Mark)  and  International Taxation (40 Marks)

Paper – 8 : Indirect Tax Laws (100 Marks)

 Integrated Course on Information Technology and Soft Skills (ICITSS)

  • Objective:To sharpen the technical and soft skills of CA students.
  • Duration : Three Weeks
  • Who shall do: Students registering for the Intermediate course shall be required to do ICITSS before commencing practical training.
  • Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify.

Practical Training

  • Duration of Practical Training :Three YearsCommences after one completes Integrated Course on information Technology and Soft Skills (ICITSS) and passes at least Group I of Intermediate.
  • Commences after one completes Integrated Course on information Technology and Soft Skills (ICITSS) and passes at least Group I of Intermediate.For direct entrants coming through Graduation and Post Graduation route, the practical training commences immediately after they complete three weeks ICITSS.
  • For direct entrants coming through Graduation and Post Graduation route, the practical training commences immediately after they complete three weeks ICITSS.
S.N. Change Reason
1 Change of Nomenclature to Foundation, Intermediate, Final. The earlier nomenclatures viz. Foundation, Intermediate and Final are quite familiar and well known to the society.
2 A Time gap of Nine months between registration and Foundation examination. Adequate time gap is given so that students get sufficient time to study since the Foundation Course has been made descriptive. Also, there is an addition of full paper
3 Foundation Examination will be partly descriptive in nature. The present MCQ based system for all papers is giving rise to guess work. As a result, even undeserving students reach the next level giving rise to false hopes. It affects the quality of the profession. Moreover, writing skills are not tested under the present pattern of examination.
4 Foundation Course : Number of Papers – 4  Paper 1: Fundamentals of Accounting (100 marks)Paper 2: Quantitative Aptitude (100 Marks) Paper 3: Mercantile Law (60 Marks) and General Economics (40Marlcs)Paper 4: General English (50 Marks) and Business Communication (50 marks) Fundamentals of Accounting and Quantitative Aptitude are raised to full papers of 100 marks having regard to their importance and ensuring strong foundations of CA students. Mercantile Law is for 60 marks as the Contract Act. 1872 will be exclusively covered here. General English and Business Communication added as a new subject seeing its importance in the modern business world and preparing the CAs for tomorrow. This will also provide an opportunity to test writing skills of potential entrants.
5 Twelve months study period for Intermediate students from the date of registration for the Intermediate Course. Keeping in view the fact that it is proposed to have Eight full papers at the Intermediate level, the study period has been raised to Twelve months.
6 Intermediate : 8 papers Group I Paper – I: Accounting (100 marks)Paper – 2: Company Law, Other Laws and Ethics (100 marks)Part – I: Company Law (60 marks)Part – II: Other Laws (20 marks)Part – III: Ethics (20 marks)Paper – 3: Cost Accounting (100 marks)Paper – 4: Direct Taxes ( 1 00 marks) Group II Paper – 5: Advanced Accounting (100 marks)Paper – 6: Auditing and Assurance (100 marks)Paper – 7: Financial Management (100 marks) Paper – 8: Indirect Taxes (100 marks) The existing Communication paper of 20 marks is proposed to be dropped from the Intermediate level as it is now a 50 marks paper at the Foundation level. Business Laws of 30 marks has been dropped from the Intermediate Course as it is included as a full paper at the Foundation level. Allocation of marks for Company Law has been raised to 60 marks in view of its scope and coverage. Select Allied Laws are proposed to be taught at Intermediate level. Paper on Information Technology (IT) has been proposed to be dropped as there are two Training courses of three weeks each on It This would also provide the flexibility to modify count contents to be in tandem with changing environment. Further, it is also proposed to introduce Assessment Test to test the competence of students. Paper on Strategic Management (SM) dropped as many aspects are proposed to be covered in the Integrated Course on Information Technology and Soft Skills. Financial Management and Cost Accounting are proposed to be made full papers of 100 marks each, having regard to their course contents.
7 Practical Training of 3 years will commence after qualifying either Group I or both the Groups of Intermediate and after successful completion i.e. passing an assessment test of Three Weeks Integrated Course on Information Technology and Soft Skills (ICITSS). The condition of successfully completing the ICITS. S before Practical Training is to ensure that students attain a reasonable level of Technical and Soft Skills required for carrying out their work as (‘A professionals. The ITT and GMCS have been merged so as to save time, resources and energy of all involved.
8 The students will have to undergo successfully Three Weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of Practical Training. The AICITSS will ensure advanced knowledge of Technical and Soft Skills relevant for the profession. Their completion during the last two years will ensure that students get the necessary and useful skills during the course of their training.
9 Students can appear in the CA Final Examination after completion of three years of Practical Training This is to ensure minimum interruption in practical training.
10 Final Number of Papers: 8 Group I Paper – 1: Financial Reporting (100 Marks)Paper – 2: Strategic Financial Management (100 Marks)Paper – 3: Advanced Auditing and Professional Ethics (100 Marks)Paper – 4: Corporate Laws and other Economic Laws (100 Marks) Group II Paper – 5: Advanced Management Accounting (100 Marks)Papa – 6: Financial Services and Capital Markers (100 Marks)Paper – 7• Advanced Tax Management (60 Marks) and International Taxation (40 Marks)Paper – 8: Indirect Tax Laws (100 Marks) • International Taxation for 40 marks has been added in view of increasing importance of the subject in the present globalized world. • The nomenclature Corporate Laws and other Economic Laws has been kept to make the name more representative of the subject. • The subject Information Systems Control and Audit (1SCA) has been dropped in view of the two Courses on IT. • A new subject ‘Financial Services and Capital Market’ has been included to make CA more competitive in the finance related areas.
11 To introduce an integrated question covering diverse topics in each paper of Final Examination It would help testing overall knowledge, understanding and application skills of the students who would be entering the profession in near future.

About the New Proposed Scheme of Education and Training

Briefly. the New Scheme proposes to keep the existing three tier structure but with the new nomenclature as Foundation, Intermediate and Final respectively.

The Foundation examination shall be partly descriptive in nature and shall also consist of a new paper of General English and Business Communication apart from the existing papers of Accounting, Mercantile Law. General Economics and Quantitative Methods.

At the Intermediate level, there will be eight papers instead of the present seven papers.

The Final course consisting of eight papers shall also undergo some change.

As in the existing Scheme, the Practical Training of Three Years shall start after passing Group One of the Intermediate but it shall have to be completed before one writes the Final examination.

It is also proposed to integrate Orientation Course, General Management and Communication Skills Courses (I and II) and Information Technology Training (ITT) and Advanced ITT and instead have two integrated Courses of three weeks each on Information Technology and Soft Skills.

The Proposed New Scheme is available on the Institute’s website www.icai.org Further read over here

Old Proposed Changes in CA Course (Confirmed)

New Proposed Scheme of Education and  Training

Proposed Overall Scheme of Education and Training:

Entry Routes and Number of Levels

ca-courses

Route I – Foundation Course Route

Under the Foundation Course Route, a Class X pass student may register itself with the Board of Studies (BoS) of the Institute for the Foundation Course. The steps are as follows:

Step: 1 Register and complete 9 months of theoretical education for the Foundation Course.
Step: 2 Appear for Foundation examination after appearing in Class XII examination
Step: 3 Qualify Foundation Examination
Step: 4 Register and complete 12 months of theoretical education of the Intermediate course
Step: 5 Appear and Pass at least Group I of Intermediate Examination
Step: 6 Complete Three Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) before commencement of the practical training.
Step: 7 Register for Three years Practical Training on passing at least Group I.
Step: 8 Register for the Final Course after qualifying both Groups of Intermediate Course
Step: 9 Complete Three Weeks Advanced ICITSS during the last two years of Practical Training.
Step: 10 Complete Practical Training
Step: 11 Appear in Final examination after completion of practical training
Step: 12 Become Member

Note: Candidates who have passed Intermediate level examination of Institute of Company Secretaries of India or Institute of Cost Accountants of India are exempt from Foundation Course. They shall register for the CA Intermediate course directly and shall have to undergo the CA course in the manner akin to the foundation passed students i.e. they will undergo steps from Bullet Point 4 (given above) onwards.

Route II – Direct Entry Route

As per the existing scheme, it is proposed to allow Commerce Graduates / Post-Graduates (with minimum 55% marks) or Other Graduates / Post-Graduates (with minimum 60% marks) to enter directly to the Intermediate Course. The following steps are required to be undertaken by the eligible Graduates and Post Graduates under this route:

Step: 1 Register with the BoS for the Intermediate course (provisional registration allowed to the Final year students).
Step: 2 Complete Three Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) before commencement of the practical training.
Step: 3 Register for Three Years Practical Training
Step: 4 Appear in Intermediate Examination after Twelve months of Practical Training
Step: 5 Qualify Intermediate Examination
Step: 6 Register for the Final Course after qualifying both Groups of Intermediate Course.
Step: 7 Complete Three Weeks Advanced ICITSS during the last two years of Practical Training
Step: 8 Complete Practical Training
Step: 9 Appear in Final examination after completion of practical training
Step: 10 Become Member

Number of Papers & Its Title

 Foundation Course: Number of Papers – 4

Paper 1              :           Fundamentals of Accounting (100 marks)

Paper 2             :           Quantitative Aptitude (100 marks)

Paper 3A          :           Mercantile Law (60 marks)

Paper 3B          :           General Economics (40 marks)

Paper 4A          :           General English (50 marks)

Paper 4B          :           Business Communication (50 marks)

Two papers will be MCQ based papers.

Intermediate Course: Number of Papers – 8

Group I:

Paper -1           :           Accounting (100 marks)

Paper- 2           :           Company Law, Other Laws and Ethics(100 marks)

Paper – I           :           Company Law (60 marks)

Paper-II            :           Other Laws (20 marks)

Paper-III          :           Ethics (20 marks)

Paper -3           :           Cost accounting (100 marks)

Paper-4            :           Direct Taxes (100 marks)

 Group II         :

Paper-5                        :           Advanced Accounting (100 marks)

Paper-6                        :           Auditing and Assurance (100 marks)

Paper-7                        :           Financial Management (100 Marks)

Paper-8                        :           Indirect Taxes (100 marks)

Final Course: Number of Papers – 8

Group I:

Paper -1           :           Financial Reporting (100 marks)

Paper- 2           :           Strategic Financial Management (100 marks)

Paper -3           :           Advanced Auditing and Professional Ethics (100 marks)

Paper-4                        :           Corporate Laws and Other Economic Laws (100 marks)

Group II:

Paper-5                        :           Advanced  ManagementAccounting (100 marks)

Paper-6                        :           Financial Services and Capital Markets (100 marks)

Paper-7                        :           Advanced Tax Management (60 marks) and International Taxation (40 Marks)

Paper-8                        :           Indirect Tax Laws (100 marks)

Integrated Course on Information Technology and Soft Skills (ICITSS)

  • Duration: Three Weeks
  • Who shall do: Students registering for the Intermediate course shall be required to do ICITSS before commencing practical training.
  • Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify.

Practical Training

  • Duration of Practical Training: Three Years
  • Commences after one completes Integrated Course on Information Technology and Soft Skills (ICTSS) and passes at least Group I of Intermediate.
  • For direct entrants coming through Graduation and Post-Graduation route, the practical training commences immediately after they complete three weeks ICTSS. 

Integrated Course on Information Technology and Soft Skills (ICITSS)

  • Objective: To further enhance the technical and soft skills of CA students
  • Duration : Three weeks
  • Who shall do: Students undergoing practical training shall be doing this course during the last two years of their practical training.
  • Assessment Test: An assessment test shall be conducted at the end of the course which the students have to qualify

Significant Changes & Reasons Thereof

S.No. Change Reason
1. Change of Nomenclature to Foundation, Intermediate, Final The earlier nomenclatures viz. Foundation, Intermediate and Final are quite familiar and well known to the society.
2. A Time gap of Nine months between registration and Foundation examination Adequate time gap is given so that students get sufficient time to study since the Foundation Course has been made descriptive. Also, there is an addition of full paper.
3. Foundation Examination will be partly descriptive in nature. The present MCQ based system for all papers is giving rise to guess work. As a result, even undeserving students reach the next level giving rise to false hopes. It affects the quality of the profession. Moreover, writing skills are not tested under the present pattern of examination.
4. Foundation Course:Number of Papers – 4Paper 1 : Fundamentals of Accounting

( 100 marks)

Paper 2: Quantitative Aptitude (100 Mars)

Paper 3: Mercantile Law (60 Marks) and General Economics (40 Marks)

Paper 4: General English (50 Marks) and Business Communication (50 marks)

 

Fundamentals of Accounting and Quantitative Aptitude are raised to full papers of 100 marks having regard to their importance and ensuring strong foundation of CA students.Mercantile Law is for 60 marks as the Contract Act, 1872 will be exclusively covered here.

 

General English and Business Communication added as a new subject seeing its importance in the modern business world and preparing the CAs for tomorrow. This will also provide an opportunity to test writing skills of potential entrants.

5. Twelve months study period for Intermediate students from the date of registration for the Intermediate Course. Keeping in view the fact that it is proposed to have Eight full papers at the Intermediate level, the study period has been raised to Twelve months.
6. Intermediate: 8 papersGroup IPaper -1: Accounting (100 marks)

Paper-2: Company Law, Other Laws and Ethics (100 marks)

Paper-I: Company Law (60 marks)

Paper-II: Other Laws (20 marks)

Paper-III: Ethics (20 marks)

Paper-3: Cost Accounting (100 marks)

Paper-4: Direct Taxes (100 marks)
Group II

Paper-5: Advanced Accounting (100 marks)

Paper-6: Auditing and Assurance (100 marks)

Paper-7: financial Management (100 marks)

Paper-8: Indirect Taxes (100 marks)

The existing Communication paper of 20 marks is proposed to be dropped from the Intermediate level as it is now a 50 marks paper at the Foundation levelBusiness Laws of 30 marks has been dropped from the Intermediate Course as it is included as a full paper at the Foundation level.

 

Allocation of marks for Company Law has been raised to 60 marks in view of its scope and coverage.

 

Select Allied Laws are proposed to be taught at Intermediate level

 

Paper on Information Technology (IT) has been proposed to be dropped as there are two Training courses of three weeks each on IT. This would also provide the flexibility to modify course contents to be in tandem with changing environment.

 

Further, it is also proposed to introduce Assessment Test to rest the competence of students.

 

Paper on Strategic Management (SM) dropped as many aspects are proposed to be covered in the Integrated Course on Information Technology and Soft Skills.

 

Financial Management and Cost Accounting are proposed to be made full papers of 100 marks each, having regard to their course contents.

7. Practical Training of 3 years will commence after qualifying either Group I or both the Groups of Intermediate and after successful completion i.e. passing an assessment test of Three Weeks Integrated Course on Information Technology and Soft Skills (ICITSS) The condition of successfully completing the ICITSS before Practical Training is to ensure that students attain a reasonable level of Technical and Soft Skills required for carrying out their work as CA professionals.The ITT and GMCS have been merged so as to save time, resources and energy of all involved.
8. The students will have to undergo successfully Three Weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last two years of Practical Training. The AICITSS will ensure advanced Knowledge of Technical and Soft Skills relevant for the profession.Their completion during the last two years will ensure that students get the necessary and useful skills during the course of their training.
9. Students can appear in the CA Final Examination after completion of three years of Practical Training This is to ensure minimum interruption in practical training.
10. Final Number of Papers: 8Group IPaper-1: Financial Reporting (100 Marks)

Paper-2: Strategic Financial Management (100 Marks)

Paper-3: Advanced Auditing and Professional Ethics (100 Marks)

Paper-4: Corporate Laws and other Economic Laws (100 Marks)

 

Group II

Paper-5: Advanced Management Accounting (100 Marks)

Paper-6: Financial Services and Capital Markets (100 Marks)

Paper-7: Advanced Tax Management (60 Marks) and International Taxation (40 Marks)

Paper-8: Indirect Tax Laws (100 Marks)

  • International Taxation for 40 marks has been added in view of increasing importance of the subject in the present globalized world.

 

  • The nomenclature Corporate Laws and other Economic Laws has been kept to make the name more representative of the subject.

 

  • The subject Information Systems Control and Audit (ISCA) has been dropped in view of the two courses on IT.

 

  • A new subject financial Services and Capital Market has been included to make CA more competitive in the finance related areas.
11. To introduce an integrated question covering diverse topics in each paper of Final Examination It would help testing overall knowledge, understanding and application skills of the students who would be entering the profession in near future.

Note& Disclaimer:

The Proposed New Scheme is available on the Institute’s website www.icai.org and is open for public comments from 12th February, 2015 to 28th February, 2015. The readers are requested to contact ICAI chapter/branches for further doubts/clarifications.

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