CA Syllabus 2017 Latest Changes in CPT/IPCC/ATC/Final Exam Syllabus Download Exam Pattern Details PDF icai.org

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CA Syllabus 2017 is released at icai.org Download Latest Changes in CPT/IPCC/ATC/Final Exam Syllabus along with Exam Pattern in Details in PDF form from here

CA Syllabus

Preparing for CA? Yes…. then get Latest updated CA Syllabus here. Institute of Chartered Accountant of India conducts Common Proficiency Test (CPT), (Integrated Professional Competence Course (IPCC), Accounting Technician Course (ATC) and finals twice a year for Chartered Accountant i.e. CA course. But, this year organization has made changes in CPT, IPCC, ATC and Final Exam Syllabus. Candidates looking for latest updated syllabus are informed that Syllabus and Exam Pattern has been released on the website i.e. icai.org.

So the students who want to become Chartered Accountant, they must download latest released Syllabus and Exam Pattern. Being a CA is not an easy task, as it requires high level of understanding, skills and knowledge, so it is a high time to commence the preparation to be a Chartered Accountant from now onwards. So one must get CA Syllabus 2017 soon, through online or may get it through this page which is well prepared by the team member of indguru.com. So must take a look.

CPT Common Proficiency Test Syllabus (CA Syllabus)

Common Proficiency Test CPT is the first stage of the Chartered Accountant (CA) course that is entrance test. Those Candidates, who will be able to qualified CPT (entrance test), only they will proceed to next stage. The main objective of this test is to check the basic knowledge of individual regarding financial accounting, general elements of mercantile law, concepts of Mathematics and Statistics. CPT includes 4 subjects which are divided into 2 sessions and each carry 100 marks. Session I of CPT includes Fundamentals of Accounting and Mercantile Laws carrying 60 or 40 marks respectively and remaining 2 that is General Economics and Quantitative Aptitude carrying 50 marks each. So, if you want to clear the first stage of CA i.e. CPT then you must be prepared in advance for that. To get the complete information of CA CPT Syllabus and Exam pattern, then must take a look below.

CA CPT Exam pattern

PaperSubjectsMarks
Session I:Fundamentals of Accounting60
Mercantile Laws40
Session II:General Economics50
Quantitative Aptitude50
Total200

 Common Proficiency Test Syllabus (CA Syllabus )
Session-I
Section –A: Fundamentals of Accounting

Theoretical Framework

  • Meaning and Scope of accounting
  • Accounting Concepts, Principles and Conventions
  • Accounting Standards – concepts, objectives, benefits
  • Accounting Policies
  • Accounting as a measurement discipline – valuation principles, accounting estimates

Accounting Process

Books of Accounts leading to the preparation of Trial Balance, Capital and revenue expenditures, Capital and revenue receipts, Contingent assets and contingent liabilities, Fundamental errors including rectifications thereof

Bank Reconciliation Statement

Inventories

Basis of inventory valuation and record keeping

Depreciation Accounting

Methods, computation and accounting treatment of depreciation, Change in depreciation methods

Preparation of Final Accounts for Sole Proprietors

Accounting for Special Transactions

(a)Consignments

(b) Joint Ventures

(c) Bills of exchange and promissory notes

(d) Sale of goods on approval or return basis

Partnership Accounts

Final accounts of partnership firms – Basic concepts of admission, retirement and death of partner including treatment of goodwill.

Introduction to Company Accounts

Issue of shares and debentures, forfeiture of shares, re-issue of forfeited shares, redemption of preference shares.

Section-B: Mercantile Laws

The Indian Contract Act , 1872: An overview of Sections 1 to 75 covering the general nature of contract , consideration , other essential elements of a valid contract , performance of contract and breach of contract
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 India Partnership Act, 1932: General Nature of Partnership – Rights and duties of partners – Registration and dissolution of a firm.

Session -II

Section C: General Economics

Micro Economics

Introduction to Micro Economics

(a) Definition, scope and nature of Economics

(b) Methods of economic study

(c) Central problems of an economy and Production possibilities curve.

Theory of Demand and Supply

(a) Meaning and determinants of demand, Law of demand and Elasticity of demand Price, income and cross elasticity

(b) Theory of consumer ’s behaviour – Marshallian approach and Indifference curve approach

(c) Meaning and determinants of supply, Law of supply and Elasticity of supply

Theory of Production and Cost

(a) Meaning and Factors of production

(b) Laws of Production – The Law of variable proportions and Laws of returns to scale

(c) Concepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs

Theory of Production and Cost

(a) Meaning and Factors of production

(b) Laws of Production – The Law of variable proportions and Laws of returns to scale

(c) Concepts of Costs ─ Short-run and long-run costs, Average and marginal costs, Total, fixed and variable costs

Indian Economic Development

Indian Economy – A Profile

(a) Nature of the Indian Economy

(b) Role of different sectors – Agriculture, Industry and Services in the development of the Indian economy, their problems and growth

(c) National Income of India – Concepts of national income, Different methods of measuring national income, Growth of national income and per capita income in various plans

(d) Basic understanding of tax system of India – Direct and Indirect Taxation

Select Aspects of Indian Economy

(a) Population – Its size, rate of growth and its implication for growth

(b) Poverty – Absolute and relative poverty and main programs for poverty alleviation

(c) Unemployment – Types, causes and incidence of unemployment

(d) Infrastructure ─ Energy, Transportation, Communication, Health and Education

(e) Inflation

(f) Budget and Fiscal deficits

(g) Balance of payments

(h) External debts

Economic Reforms in India

(a) Features of economic reforms since 1991

(b) Liberalisation, Privatisation and Disinvestment

(c) Globalisation

Money and Banking

(a) Money – Meaning and functions

(b) Commercial Banks – Role and functions

(c) Reserve Bank of India – Role and functions, Monetary policy

Section D: Quantitative Aptitude

Ratio and proportion, Indices, Logarithms

Equations Linear

simultaneous linear equations up to three variables, quadratic and cubic equations in one variable, equations of a straight line, intersection of straight lines, graphical solution to linear equations

Inequalities Graphs of inequalities in two variables ─ common region
Simple and Compound Interest including annuity ─ Applications
Basic concepts of Permutations and Combinations
Sequence and Series – Arithmetic and geometric progressions
Sets, Functions and Relations
Limits and Continuity ─ Intuitive Approach
Basic concepts of Differential and Integral Calculus (excluding trigonometric functions)

Statistical description of data

(a) Textual, Tabular & Diagrammatic representation of data

(b) Frequency Distribution.

(c) Graphical representation of frequency distribution – Histogram, Frequency Polygon, Ogive

Measures of Central Tendency and Dispersion

Arithmetic Mean, Median – Partition Values, Mode, Geometric Mean and Harmonic, Mean, Standard deviation, Quartile deviation

Correlation and Regression
Probability and Expected Value by Mathematical Expectation

Theoretical Distributions

Binomial, Poisson and Normal

Sampling Theory

Basic Principles of sampling theory, Comparison between sample survey and complete enumeration , Errors in sample survey, Some important terms associated with sampling , Types of sampling , Theory of estimation, Determination of sample size .

Index Numbers

 IPCC Integrated Professional Competence Course Syllabus

Integrated Professional Competence course IPCC is the second stage of the CA (Chartered Accountancy). This is the second level after CA CPT. The main objective of this test is to check the understanding of Information Technology, knowledge of the professional standards and application of accounting principles, knowledge of Business Law and Company Law, understanding of ethical issues in business, communication and behavioural skills relating to business. IPCC includes 2 groups, 1 group is of Accounting, Business laws Cost Accounting, Taxation each paper carry 100 marks respectively and II group is of Advanced Accounting, Auditing and Assurance and Information Technology & Strategic Management. To collect whole information of CA IPCC syllabus and exam pattern must go through below segment details

CA IPCC Exam Pattern

GroupsPaperSubjectMarks
 

Group I

I Accounting100
IIBusiness laws100
IIICost Accounting100
IVTaxation100
 

Group II

VAdvanced Accounting100
VIAuditing and Assurance100
VIIInformation Technology & Strategic Management100

 CA CPT Registration 2017 June Exam Application Form Online

CA IPCC Exam Syllabus
GROUP–I

PAPER1: ACCOUNTING

A General Knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards

Accounting Standards

Working knowledge of:

AS 1 : Disclosure of Accounting Policies

AS 2: Valuation of Inventories

AS 3: Cash Flow Statements

AS 6: Depreciation Accounting

AS 7: Construction Contracts (Revised 2002)

AS 9: Revenue Recognition

AS 10: Accounting for Fixed Assets

AS 13: Accounting for Investments

AS 14: Accounting for Amalgamations

Company Accounts

  • Preparation of financial statements – Profit and Loss Account, Balance Sheet and Cash Flow Statement
  • Profit (Loss) prior to incorporation
  • Alteration of share capital, Conversion of fully paid shares into stock and stock into shares, Accounting for bonus issue
  • Simple problems on Accounting for business acquisition, Amalgamation and reconstruction (excluding problems of amalgamation on inter-company holding)
Average Due Date, Account Current, Self-Balancing Ledgers
Financial Statements of Not-for-Profit Organisations
Accounts from Incomplete Records

Accounting for Special Transactions

  • Hire purchase and installment sale transactions
  • Investment accounts
  • Insurance claims for loss of stock and loss of profit.

Issues in Partnership Accounts

Final accounts of partnership firms – Admission, retirement and death of a partner including treatment of goodwill

Accounting in Computerized Environment
An overview of computerized accounting system – Salient features and significance, Concept of grouping of accounts, Codification of accounts, Maintaining the hierarchy of ledger, Accounting packages and consideration for their selection, Generating Accounting Reports.

 PAPER – 2: BUSINESS LAWS, ETHICS AND COMMUNICATION
Part I: Business Laws

PartsSyllabus
Business Laws
  • The Indian Contract Act, 1872
  • The Negotiable Instruments Act, 1881
  • The Payment of Bonus Act, 1965
  • The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952
  • The Payment of Gratuity Act, 1972
Company Law
  • Preliminary
  • Board of Company Law Administration – National Company Law Tribunal; Appellate Tribunal
  • Incorporation of company and matters incidental thereto
  • Prospectus and allotment, and other matters relating to use of shares or debentures
  • Share capital and debentures
  • Registration of charges
  • Management and administration – general provisions – registered office and name, restrictions on commencement of business, registers of members and debentures holders, foreign registers of members or debenture holders, annual returns, general provisions regarding registers and returns, meetings and proceedings
  • Company Law in a computerized environment – e-filing

 Part II: Ethics

Introduction to Business Ethics
The nature, purpose of ethics and morals for organizational interests; ethics and conflicts of interests; ethical and social implications of business policies and decisions; corporate social responsibility; ethical issues in corporate governance.
 Environment Issues
Protecting the Natural Environment – prevention of pollution and depletion of natural resources; conservation of natural resources.
Ethics in Workplace
Individual in the organization, discrimination, harassment, gender equality.
Ethics in Marketing and Consumer Protection
Healthy competition and protecting consumer’s interest
Ethics in Accounting and Finance
Importance, issues and common problems

 Part III: Communication

Elements of Communication
  • Forms of communication: formal and informal, inter-departmental, verbal and nonverbal; active listening and critical thinking
  • Presentation skills including conducting meeting, press conference
  • Planning and composing business messages
  • Communication channels
  • Communicating corporate culture, change, innovative spirits
  • Communication breakdowns
  • Communication ethics
  • Groups dynamics; handling group conflicts, consensus building; influencing and persuasion skills; negotiating and bargaining
  • Emotional intelligence – emotional quotient
  • Soft skills – personality traits; interpersonal skills; leadership
Communication in Business Environment
  • Business Meetings – Notice, Agenda, Minutes, Chairperson’s speech
  • Press releases
  • Corporate announcements by stock exchanges
  • Reporting of proceedings of a meeting
Basic Understanding of Legal Deeds and Documents
  • Partnership deed
  • Power of Attorney
  • Lease deed
  • Affidavit
  • Indemnity bond
  • Gift deed
  • Memorandum and articles of association of a company
  • Annual Report of a company

 PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT
Part I: Cost Accounting

Introduction to Cost Accounting
  • Objectives and scope of cost accounting
  • Cost centers and cost units
  • Cost classification for stock valuation, profit measurement, decision making and control
  • Coding systems
  • Elements of cost
  • Cost behavior pattern, separating the components of semi-variable costs
  • Installation of a costing system
  • Relationship of cost accounting, financial accounting, management accounting and financial management.
Cost Ascertainment
Material Cost
  • Procurement procedures – store procedures and documentation in respect of receipts and issue of stock, stock verification
  • Inventory control – techniques of fixing of minimum, maximum and reorder levels, economic order quantity, ABC classification; stocktaking and perpetual inventory
  • Inventory accounting
  • Consumption – identification with products of cost centers, basis for consumption entries in financial accounts, monitoring consumption.
Employee Cost
  • Attendance and payroll procedures, overview of statutory requirements, overtime, idle time and incentives
  • Labour turnover
  • Utilisation of labour, direct and indirect labour, charging of labour cost,
  • identifying labour hours with work orders or batches or capital jobs
  • Efficiency rating procedures
  • Remuneration systems and incentive schemes.
Direct Expenses
Sub-contracting – control on material movements, identification with the main product or service.
Overheads
  • Functional analysis – factory, administration, selling, distribution, research and development
  • Behavioural analysis – fixed, variable, semi variable and step cost
  • Factory overheads – primary distribution and secondary distribution, criteria for choosing suitable basis for allotment, capacity cost adjustments, fixed absorption rates for absorbing overheads to products or services
  • Administration overheads – method of allocation to cost centers or products
  • Selling and distribution overheads – analysis and absorption of the expenses in products/customers, impact of marketing strategies, cost effectiveness of various methods of sales promotion.
Cost Book-keeping
Cost ledgers – non-integrated accounts, integrated accounts, reconciliation of cost and financial accounts.
Costing Systems
(a) Job Costing
Job cost cards and databases, collecting direct costs of each job, attributing overhead costs to jobs, applications of job costing.
(b) Batch Costing
(c) Contract Costing
Progress payments, retention money, escalation clause, contract accounts, accounting for material, accounting for plant used in a contract, contract profit and balance sheet entries.
(d) Process Costing
Double entry book keeping, process loss, abnormal gains and losses, equivalent units,

inter-process profit, joint products and by products.

(e) Operating Costing System
Introduction to Marginal Costing
Marginal costing compared with absorption costing, contribution, breakeven analysis and profit volume graph.
Introduction to Standard Costing
Various types of standards, setting of standards, basic concepts of material and labour standards and variance analysis.
Budgets and Budgetary Control
The budget manual, preparation and monitoring procedures, budget variances, flexible budget,  preparation of functional budget for operating and non-operating functions, cash budget, master budget, principal budget factors.

 Part II: Financial Management

Scope and Objectives of Financial Management

  • Meaning, importance and objectives
  • Conflicts in profit versus value maximization principle
  • Role of Chief Financial Officer.
Time Value of Money
Compounding and discounting techniques – concepts of annuity and perpetuity.
Financial Analysis and Planning

  • Ratio analysis for performance evaluation and financial health
  • Application of ratio analysis in decision-making
  • Analysis of cash flow statement.
Financing Decisions

  • Cost of Capital – weighted average cost of capital and marginal cost of capital
  • Capital Structure decisions – capital structure patterns, designing optimum capital structure, constraints, various capital structure theories
  • Business risk and financial risk – operating and financial leverage, trading on equity.
Types of Financing

  • Different sources of finance
  • Project financing – intermediate and long term financing
  • Negotiating term loans with banks and financial institutions and appraisal thereof
  • Introduction to lease financing
  • Venture capital finance.
Investment Decisions

  • Purpose, objective, process
  • Understanding different types of projects
  • Techniques of decision making: non-discounted and discounted cash flow approaches payback period method, accounting rate of return, net present value, internal rate of return, modified internal rate of return, discounted payback period and profitability index
  • Ranking of competing projects, ranking of projects with unequal lives.
Management of working capital

  • Working capital policies
  • Funds flow analysis
  • Inventory management
  • Receivables management
  • Payables management
  • Management of cash and marketable securities
  • Financing of working capital.

 Paper 4: Taxation

Part I: Income-tax
  • Important definitions in the Income-tax Act, 1961
  • Basis of charge; rates of taxes applicable for different types of assessees
  • Concepts of previous year and assessment year
  • Residential status and scope of total income; Income deemed to be received / deemed to
  • accrue or arise in India
  • Incomes which do not form part of total income
  • Heads of income and the provisions governing computation of income under different heads
  • Income of other persons included in assessee’s total income
  • Aggregation of income; set-off or carry forward and set-off of losses
  • Deductions from gross total income
  • Computation of total income and tax payable; rebates and reliefs
  • Provisions concerning advance tax and tax deducted at source
  • Provisions for filing of return of income.
 Part II: Indirect Taxes
Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional aspects, Basic concepts relating to levy, taxable event and related provisions
Significant provisions of service tax
  • Constitutional Aspects
  • Basic Concepts and General Principles
  • Charge of service tax including negative list of services
  • Point of taxation of services
  • Exemptions and Abatements
  • Valuation of taxable services
  • Invoicing for taxable services
  • Payment of service tax
  • Registration
  • Furnishing of returns
  • CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]

GROUP–II
PAPER–5: ADVANCED ACCOUNTING

Framework for Preparation and Presentation of Financial Statements
Accounting Standards
Working knowledge of:

AS 4: Contingencies and Events occurring after the Balance Sheet Date

AS 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

AS 11: The Effects of Changes in Foreign Exchange Rates (Revised2003)

AS 12: Accounting for Government Grants

AS 16: Borrowing Costs

AS 19: Leases

AS 20:Earnings Per Share

AS 26: Intangible Assets

AS 29: Provisions, Contingent Liabilities and Contingent Assets

  • Advanced Issues in Partnership Accounts and Issues related to accounting in Limited Liability Partnerships
  • Dissolution of partnership firms  including piece meal distribution of assets; Amalgamation of  partnership firms; Conversion into a company and Sale to a company
Company Accounts
  • Accounting   for employee stock option plan, Buy back of securities, Equity shares with differential rights, Underwriting of shares and debentures, Redemption of debentures.
  • Advanced problems for business acquisition, Amalgamation and reconstruction (excluding problems of amalgamation of inter-company holding)
  • Accounting involved in liquidation of companies, Statement of Affairs (including deficiency/ surplus accounts)and Iiquidator’s statement of account of the winding up
  • Financial reporting of insurance and banking and legal and regulatory requirements thereof.
Accounting for Special Transactions
Departmental and branch accounts including foreign branches

 PAPER–6: AUDITING AND ASSURANCE

Auditing Concepts
Nature and limitations of Auditing, Basic Principles governing an audit, Ethical principles and concept of Auditor’s Independence, Relationship of auditing with other disciplines
Standards on Auditing and Guidance Notes
Overview, Standard-setting process, Role of International Auditing and Assurance Standards Board, Standards on Auditing issued by the ICAI; Guidance Note (s) on─ Audit of Fixed Assets, Audit of Inventories, Audit of Investments, Audit of Debtors, Loans and Advances, Audit of Cash and Bank Balances, Audit of Miscellaneous Expenditure, Audit of Liabilities, Audit of Revenue, Audit of Expenses and provision for proposed dividends
Auditing engagement
Audit planning, Audit programme, Control of quality of audit work─ Delegation and supervision of audit work.
Documentation
Audit working papers, Audit files: Permanent and current audit files, Ownership and custody of working papers
Audit evidence
Audit procedures for obtaining evidence, Sources of evidence, Reliability of audit evidence, Methods of obtaining audit evidence─ Physical verification, Documentation, Direct confirmation, Re-computation, Analytical review techniques, Representation by management, Obtaining certificate.
Internal Control
Elements of internal control, Review and documentation, Evaluation of internal control system, Internal control questionnaire, Internal control checklist, Tests of control, Application of concept of materiality and audit risk, Concept of internal audit.
Internal Control and Computerized Environment, Approaches to Auditing in Computerized Environment.
Auditing Sampling
Types of sampling, Test checking, Techniques of test checks
Analytical review procedures
Audit of payments
General considerations, Wages, Capital expenditure, Other payments and expenses, Petty cash payments, Bank payments, Bank reconciliation.
Audit of receipts
General considerations, Cash sales, Receipts from debtors, Other Receipts
Audit of Purchases
Vouching cash and credit purchases, Forward purchases, Purchase returns, Allowance received from suppliers
Audit of Sales
Vouching of cash and credit sales, Goods on consignment, Sale on approval basis, Sale under hire-purchase agreement, Returnable containers, Various types of allowances given to customers, Sale returns.
Audit of suppliers’ ledger and the debtors ‘ledger
Self-balancing and the sectional balancing system, Total or control accounts, Confirmatory statements from credit customers and suppliers, Provision for bad and doubtful debts, Writing off of bad debts.
Audit of impersonal ledger
Capital expenditure, deferred revenue expenditure and revenue expenditure, Outstanding expenses and income, Repairs and renewals, Distinction between reserves and provisions, Implications of change in the basis of accounting.
Audit of assets and liabilities
Company Audit
Audit of Shares, Eligibility, Qualifications and Disqualifications of Auditors, Appointment of auditors, Removal of auditors, Remuneration of Auditors, Powers and duties of auditors, Branch audit, Joint audit, Reporting requirements under the Companies Act, 2013, Other Important Provisions under the Companies Act, 2013 relating to Audit and Auditors and Rules made there under.
Audit Report
Qualifications, Disclaimers, Adverse opinion, Disclosures, Reports and certificates
Special points in audit of different types of undertakings, i.e., Educational institutions, Hotels, Clubs, Hospitals, Hire-purchase and leasing companies (excluding banks, electricity companies, cooperative societies, and insurance companies).
Features and basic principles of government audit, Local bodies and not-for-profit organizations, Comptroller and Auditor General and its constitutional role.

PAPER–7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Section 7A: Information Technology

  • Business Process Management & IT
  • Information Systems and IT Fundamentals
  • Telecommunication and Networks
  • Business Information Systems
  • Business Process Automation through Application software

Section 7B: Strategic Management

Business Environment
General Environment─ Demographic, Socio-cultural, Macro-economic, Legal/political, Technological and Global; Competitive Environment.
Business Policy and Strategic Management
Meaning and nature; Strategic management imperative; Vision, Mission and Objectives ;Strategic levels in organizations
Strategic Analysis
Situational Analysis–SWOT Analysis, TOWS Matrix, Portfolio Analysis─ BCG Matrix.
Strategic Planning
Meaning, stages, alternatives, strategy formulation
Formulation of Functional Strategy
Marketing strategy, Financial strategy, Production strategy, Logistics strategy, Human resource strategy
Strategy Implementation and Control
Organizational structures; Establishing strategic business units; Establishing profit centers by business, product or service, market segment or customer; Leadership and behavioural challenges.
Reaching Strategic Edge
Business Process Reengineering, Benchmarking, Total Quality Management, Six Sigma, Contemporary Strategic Issues.

 ATC Accounting Technician Course Syllabus

Now come to 3rd level of CA that is Accounting Technician Course (ATC). Only those candidates will be able to appear for this exam, who will qualify first two stages. The primary motive of this test is to observe the skill of individual in respect of financial statement, fundamentals of computerized system of accounting, knowledge of business laws and company law, understanding of ethical issues in business, financing and investment decisions, Income-tax law. Accounting Technician Course includes 4 papers that is Accounting, Business laws, Ethics and Communication, Cost Accounting and each paper covering 100 marks. So, who want to collect CA ATC syllabus and exam pattern, must read out the below segment.

CA ATC Exam Pattern

PaperSubjectMarks
I Accounting100
IIBusiness laws, Ethics and Communication
Part I:Law (60 marks)
Business Laws (30 marks)
Company Law (30 marks)
Part II: Business Ethics (20 marks)
Part III: Business Communication n (20 marks)
100
IIICost Accounting
Part I: Cost Accounting (50 marks)
Part II: Financial Management (50 marks)
100
IVTaxation
Part I:Income-tax (50 marks)
Part II: Service Tax (25 marks)
VAT (25 marks)
100

 CA ATC Exam Syllabus

Paper 1: Accounting

A General Knowledge of the framing of the accounting standards, national and international accounting authorities, adoption of international financial reporting standards
Accounting Standards

Working knowledge of:

AS 1 : Disclosure of Accounting Policies

AS 2: Valuation of Inventories

AS 3: Cash Flow Statements

AS 6: Depreciation Accounting

AS 7: Construction Contracts (Revised 2002)

AS 9: Revenue Recognition

AS 10: Accounting for Fixed Assets

AS 13: Accounting for Investments

AS 14: Accounting for Amalgamations

Company Accounts

  • Preparation of financial statements – Profit and Loss Account, Balance Sheet and Cash Flow Statement
  • Profit (Loss) prior to incorporation
  • Alteration of share capital, Conversion of fully paid shares into stock and stock into shares, Accounting for bonus issue
  • Simple problems on Accounting for business acquisition, Amalgamation and reconstruction (excluding problems of amalgamation on inter-company holding)
Average Due Date, Account Current, Self-Balancing Ledgers
Financial Statements of Not-for-Profit Organisations
Accounts from Incomplete Records
Accounting for Special Transactions

  • Hire purchase and installment sale transactions
  • Investment accounts
  • Insurance claims for loss of stock and loss of profit.
Issues in Partnership Accounts

Final accounts of partnership firms – Admission, retirement and death of a partner including treatment of goodwill

Accounting in Computerized Environment
An overview of computerized accounting system – Salient features and significance, Concept of grouping of accounts, Codification of accounts, Maintaining the hierarchy of ledger, Accounting packages and consideration for their selection, Generating Accounting Reports.

Paper 2: Business Laws, Ethics and Communication

Part I: Business Laws

PartsSyllabus
Business Laws
  • The Indian Contract Act, 1872
  • The Negotiable Instruments Act, 1881
  • The Payment of Bonus Act, 1965
  • The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952
  • The Payment of Gratuity Act, 1972
Company Law
  • Preliminary
  • Board of Company Law Administration – National Company Law Tribunal; Appellate Tribunal
  • Incorporation of company and matters incidental thereto
  • Prospectus and allotment, and other matters relating to use of shares or debentures
  • Share capital and debentures
  • Registration of charges
  • Management and administration – general provisions – registered office and name, restrictions on commencement of business, registers of members and debentures holders, foreign registers of members or debenture holders, annual returns, general provisions regarding registers and returns, meetings and proceedings
  • Company Law in a computerized environment – e-filing

Part II: Ethics

Introduction to Business Ethics
The nature, purpose of ethics and morals for organizational interests; ethics and conflicts of interests; ethical and social implications of business policies and decisions; corporate social responsibility; ethical issues in corporate governance.
 Environment Issues
Protecting the Natural Environment – prevention of pollution and depletion of natural resources; conservation of natural resources.
Ethics in Workplace
Individual in the organisation, discrimination, harassment, gender equality.
Ethics in Marketing and Consumer Protection
Healthy competition and protecting consumer’s interest
Ethics in Accounting and Finance
Importance, issues and common problems

 Part III: Communication

Elements of Communication
  • Forms of communication: formal and informal, inter-departmental, verbal and nonverbal; active listening and critical thinking
  • Presentation skills including conducting meeting, press conference
  • Planning and composing business messages
  • Communication channels
  • Communicating corporate culture, change, innovative spirits
  • Communication breakdowns
  • Communication ethics
  • Groups dynamics; handling group conflicts, consensus building; influencing and persuasion skills; negotiating and bargaining
  • Emotional intelligence – emotional quotient
  • Soft skills – personality traits; interpersonal skills; leadership
Communication in Business Environment
  • Business Meetings – Notice, Agenda, Minutes, Chairperson’s speech
  • Press releases
  • Corporate announcements by stock exchanges
  • Reporting of proceedings of a meeting
Basic Understanding of Legal Deeds and Documents
  • Partnership deed
  • Power of Attorney
  • Lease deed
  • Affidavit
  • Indemnity bond
  • Gift deed
  • Memorandum and articles of association of a company
  • Annual Report of a company

Paper 3: Cost Accounting and Financial Management

Part I: Cost Accounting

Introduction to Cost Accounting
  • Objectives and scope of cost accounting
  • Cost centers and cost units
  • Cost classification for stock valuation, profit measurement, decision making and control
  • Coding systems
  • Elements of cost
  • Cost behavior pattern, separating the components of semi-variable costs
  • Installation of a costing system
  • Relationship of cost accounting, financial accounting, management accounting and financial management.
Cost Ascertainment
Material Cost
  • Procurement procedures – store procedures and documentation in respect of receipts and issue of stock, stock verification
  • Inventory control – techniques of fixing of minimum, maximum and reorder levels, economic order quantity, ABC classification; stocktaking and perpetual inventory
  • Inventory accounting
  • Consumption – identification with products of cost centers, basis for consumption entries in financial accounts, monitoring consumption.
Employee Cost
  • Attendance and payroll procedures, overview of statutory requirements, overtime, idle time and incentives
  • Labour turnover
  • Utilisation of labour, direct and indirect labour, charging of labour cost,
  • identifying labour hours with work orders or batches or capital jobs
  • Efficiency rating procedures
  • Remuneration systems and incentive schemes.
Direct Expenses
Sub-contracting – control on material movements, identification with the main productor service.
Overheads
  • Functional analysis – factory, administration, selling, distribution, research and development
  • Behavioural analysis – fixed, variable, semi variable and step cost
  • Factory overheads – primary distribution and secondary distribution, criteria for choosing suitable basis for allotment, capacity cost adjustments, fixed absorption rates for absorbing overheads to products or services
  • Administration overheads – method of allocation to cost centers or products Selling and distribution overheads – analysis and absorption of the expenses in products/customers, impact of marketing strategies, cost effectiveness of various methods of sales promotion.
Cost Book-keeping
Cost ledgers – non-integrated accounts, integrated accounts, reconciliation of cost and financial accounts.
Costing Systems
(a) Job Costing
Job cost cards and databases, collecting direct costs of each job, attributing overhead costs to jobs, applications of job costing.
(b) Batch Costing
(c) Contract Costing
Progress payments, retention money, escalation clause, contract accounts, accounting for material, accounting for plant used in a contract, contract profit and balance sheet entries.
(d) Process Costing
Double entry book keeping, process loss, abnormal gains and losses, equivalent units, inter-process profit, joint products and by products.
(e) Operating Costing System
Introduction to Marginal Costing
Marginal costing compared with absorption costing, contribution, breakeven analysis and profit volume graph.
Introduction to Standard Costing
Various types of standards, setting of standards, basic concepts of material and labour standards and variance analysis.
Budgets and Budgetary Control
The budget manual, preparation and monitoring procedures, budget variances, flexible budget,  preparation of functional budget for operating and non-operating functions, cash budget, master budget, principal budget factors.

 Part II: Financial Management

Scope and Objectives of Financial Management

  • Meaning, importance and objectives
  • Conflicts in profit versus value maximization principle
  • Role of Chief Financial Officer.
Time Value of Money
Compounding and discounting techniques – concepts of annuity and perpetuity.
Financial Analysis and Planning

  • Ratio analysis for performance evaluation and financial health
  • Application of ratio analysis in decision-making
  • Analysis of cash flow statement.
Financing Decisions

  • Cost of Capital – weighted average cost of capital and marginal cost of capital
  • Capital Structure decisions – capital structure patterns, designing optimum capital structure, constraints, various capital structure theories
  • Business risk and financial risk – operating and financial leverage, trading on equity.
Types of Financing

  • Different sources of finance
  • Project financing – intermediate and long term financing
  • Negotiating term loans with banks and financial institutions and appraisal thereof
  • Introduction to lease financing
  • Venture capital finance.
Investment Decisions

  • Purpose, objective, process
  • Understanding different types of projects
  • Techniques of decision making: non-discounted and discounted cash flow approaches payback period method, accounting rate of return, net present value, internal rate of return, modified internal rate of return, discounted payback period and profitability index
  • Ranking of competing projects, ranking of projects with unequal lives.
Management of working capital

  • Working capital policies
  • Funds flow analysis
  • Inventory management
  • Receivables management
  • Payables management
  • Management of cash and marketable securities
  • Financing of working capital.

 Paper 4: Taxation

Part I: Income-tax
  • Important definitions in the Income-tax Act, 1961
  • Basis of charge; rates of taxes applicable for different types of assessees
  • Concepts of previous year and assessment year
  • Residential status and scope of total income; Income deemed to be received / deemed to
  • accrue or arise in India
  • Incomes which do not form part of total income
  • Heads of income and the provisions governing computation of income under different heads
  • Income of other persons included in assessee’s total income
  • Aggregation of income; set-off or carry forward and set-off of losses
  • Deductions from gross total income
  • Computation of total income and tax payable; rebates and reliefs
  • Provisions concerning advance tax and tax deducted at source
  • Provisions for filing of return of income.

 Part II: Service tax and VAT

Service tax
1. Service tax – concepts and general principles

2. Charge of service tax and taxable services

3. Valuation of taxable services

4. Payment of service tax and filing of returns

VAT
5. VAT – concepts and general principles

6. Calculation of VAT Liability including input Tax Credits

7. Small Dealers and Composition Scheme

8. VAT Procedures

 Part II: Indirect Taxes (Revised)

Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional aspects, Basic concepts relating to levy, taxable event and related provisions
Significant provisions of service tax
  • Constitutional Aspects
  • Basic Concepts and General Principles
  • Charge of service tax including negative list of services
  • Point of taxation of services
  • Exemptions and Abatements
  • Valuation of taxable services
  • Invoicing for taxable services
  • Payment of service tax
  • Registration
  • Furnishing of returns
  • CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]

Chartered Accountant Final Syllabus

Now here is the last final stage of CA………. Only after qualifying this stage, one can be a Chartered accountant. The foremost objective of this stage is to analyze the final skills, understandings and knowledge of individual in financial reporting and valuation, financial statement, knowledge of Business Law and Company Law, understanding of ethical issues in business, communication and behavioural skills relating to business. Final examination will be of 2 groups and that is divided to 4 papers. Financial Reporting, Strategic Financial Management, Advanced Auditing and Professional Ethics and Corporate and Allied Laws is including in 1st group and Advanced Management Accounting, Information Systems Control and Audit, Direct Tax Laws and Indirect Tax Laws is included in II group. To get whole details of CA Final Syllabus and Exam Pattern one should have to go through below framed table and details.

CA Final Exam Pattern

GroupsPaperSubjectMarks
 

Group I

IFinancial Reporting100
IIStrategic Financial Management100
IIIAdvanced Auditing and Professional Ethics100
IVCorporate and Allied Laws100
Group IIVAdvanced Management Accounting100
VIInformation Systems Control and Audit100
VIIDirect Tax Laws100
VIIIIndirect Tax Laws100

CA Final Exam Syllabus
Group I
Paper 1: Financial Reporting

Accounting Standards (ASs) and Guidance Notes on various accounting aspects issued by the ICAI and their application
Corporate Financial Reporting-Issues and problems with special reference to published financial statements.
Accounting for Corporate Restructuring (including inter-company holdings).
  • Consolidated Financial Statements of Group Companies
  • Concept of a Group, purposes of consolidated financial statements, minority interest, Goodwill, Consolidation procedures–Minority interests, Goodwill, Treatment of pre-acquisition and post-acquisition profit.
  • Consolidation with two or more subsidiaries, consolidation with foreign subsidiaries.
  • Consolidated profit and loss account, balance sheet and cash flow statement
  • Treatment of investment in associates in consolidated financial statements.
  • Treatment of investments in joint ventures in consolidated financial statements
Accounting and reporting of financial instruments
  • Meaning, recognition, de recognition and offset, compound financial instruments Measurement of financial instruments
  • Hedge accounting
  • Disclosures
Share based payments
  • Meaning, Equity settled transactions, Transaction with employees and non-employees Determination of fair value of equity instruments
  • Vesting conditions
  • Modification, cancellation and settlement
  • Disclosures
Financial Reporting by Mutual funds, Non-banking finance companies, Merchant bankers, Stock and commodity market intermediaries
Valuation
  • Concept of Valuation
  • Valuation of Tangible Fixed Assets
  • Valuation of Intangibles including brand valuation and valuation of goodwill
  • Valuation of liabilities
  • Valuation of Shares
  • Valuation of Business
Developments in Financial Reporting
  • Value Added Statement
  • Economic Value Added, Market Value Added, Shareholders’ Value Added

Human Resource Reporting

                              Paper 2: Strategic Financial Management

  • Financial Policy and Corporate Strategy
  • Risk Management
  • Advanced Capital Budgeting Decisions
  • Security Analysis
  • Security Valuation
  • Lease Financing
  • Portfolio Management
  • Foreign Exchange Exposure and Risk Management
  • International Financial Management
  • Interest Rate Risk Management
  • Corporate Valuation and Reorganization
  • Islamic Finance

Paper 3: Advanced Auditing and Professional Ethics

  • Auditing Standards, Statements and Guidance Notes
  • Risk Assessment and Internal Control
  • Audit of Limited Companies
  • Liabilities of Auditors
  • Audit Reports
  • Audit Committee and Corporate Governance
  • Audit of Consolidated Financial Statements
  • Miscellaneous Audits
  • Audit under Fiscal Laws
  • Cost Audit
  • Special Audit Assignments
  • Audit of Public Sector Undertakings
  • Internal Audit, Management and Operational Audit
  • Investigation and Due Diligence
  • Concept of Peer Review
  • Professional Ethics

Paper 4: Corporate and Other Economic Laws

Section A: Company Law

The Companies Act, 2013 and Rules framed there under in its entirety with specific reference to section 149 onwards:
  • Appointment and Qualifications of Directors
  • Appointment and remuneration of Managerial Personnel
  • Meetings of Board and its powers
  • Inspection, inquiry and Investigation
  • Compromises, Arrangements and Amalgamations
  • Prevention of Oppression and Mismanagement
  • Revival and Rehabilitation of Sick Companies
  • Winding Up
  • Producer Companies
  • Companies incorporated outside India
  • Offences and Penalties
  • E-governance
  • National Company Law Tribunal and Appellate Tribunal
  • Special Courts
  • Miscellaneous Provisions
 Corporate Secretarial Practice-Drafting of Resolution, Minutes, Notices and Reports

 SECTION B: ALLIED LAWS

An overview of the following laws–

  • The Securities and Exchange Board of India Act, 1992, Rules, Regulations and Guidelines issued there under
  • Securities Contracts (Regulation) Act,1956
  • The Foreign Exchange Management Act, 1999
  • The Competition Act, 2002
  • The Banking Regulation Act, 1949, The Insurance Act, 1938, The Insurance Regulatory and Development Authority Act, 1999, The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
  • The Prevention of Money Laundering Act, 2002

Interpretation of Statutes, Deeds and Documents

PAPER 5: ADVANCED MANAGEMENT ACCOUNTING

Cost Management
  • Developments in the Business Environment
  • Activity Based Approaches to management and cost analysis
  • Analysis of Common Costs in manufacturing and service industry
  • Techniques for Profit Improvement, Cost Reduction, and Value Analysis
  • Through put Accounting
  • Target Costing; Cost Ascertainment and Pricing of Products and Services
  • Life Cycle Costing
  • Shut Down and Divestment
Cost Volume Profit Analysis
  • Relevant Cost
  • Product Sales Pricing and Mix
  • Limiting Factors
  • Multiple Scarce Resource Problems
  • Decisions about Alternatives such as Make or Buy, Selection of Products, etc.
Pricing Decisions
  • Pricing of a Finished Product
  • Theory of Price
  • Pricing Policy
  • Principles of Product Pricing
  • New Product Pricing
  • Pricing Strategies
  • Pricing of Services
  • Pare to Analysis
Budgets and Budgetary Control
The Budget Manual, Preparation and Monitoring Procedures, Budget Variances, Flexible Budgets, Preparation of Functional Budget for Operating and Non-Operating Functions, Cash Budgets, Capital Expenditure Budget, Master Budget, Principal Budget Factors.
Standard Costing and Variance Analysis
Investigation and Interpretation of Variances and their Inter Relationship
Behavioural Considerations
Transfer Pricing
  • Objectives of Transfer Pricing
  • Methods of Transfer Pricing
  • Conflict between a Division and a Company
  • Multi-National Transfer Pricing
Cost Management in Service Sector
Uniform Costing and Inter Firm Comparison
Profitability Analysis-Product Wise/Segment Wise/ Customer Wise
Financial Decision Modeling
  • Linear Programming
  • Network Analysis-PERT/CPM, Resource Allocation and Resource Leveling
  • Transportation Problems
  • Assignment Problems
  • Simulation
  • Learning Curve Theory
  • Time Series Forecasting
  • Sampling and Test of Hypothesis

 Paper-6: Information Systems Control and Audit (Revised)

Concepts of Governance and Management of Information Systems
Governance, Risk and compliance and relationship between governance and management. Role of information technology and IS Strategy in business strategy, operations and control, business value from use of IT, business impact of IS risks different types of Information Systems Risks, IS Risk management overview, IT Compliance overview – Role and responsibilities of top management as regards IT-GRC. Role of Information Systems Assurance. Overview of Governance of Enterprise IT and COBIT
Information Systems Concepts
Overview of information systems in IT environment and practical aspects of application of information systems in enterprise processes. Information as a key business asset and its relation to business objectives, business processes and relative importance of information systems from strategic and operational perspectives. Various types of business applications, overview of underlying IT technologies.
Protection of Information Systems
Need for protection of Information systems, types of controls, IT general controls, logical access controls & application controls. Technologies and security management features, IS Security Policies, procedures, practices, standards and guidelines, IT controls and control objectives, Role of technology systems in control monitoring, segregation of duties. Impact of IT controls on Internal controls over financial reporting, cyber frauds and control failures.
Business Continuity Planning and Disaster recovery planning
Assessing Business Continuity Management, Business Impact Analysis and Business Continuity Plans, Disaster recovery from perspective of going concern, Recovery Strategies
Acquisition, Development and Implementation of Information Systems (SDLC)
Business process design (integrated systems, automated, and manual interfaces), Software procurement, RFP process, evaluation of IT proposals, computing ROI, Computing Cost of IT implementation and cost benefit analysis, systematic approach to SDLC and review of SDLC controls at different stages.
Auditing & Information Systems
Different types of IS audit and assurance engagements. Evaluating IT dependencies for audit planning. Overview of continuous auditing. Auditing Information Systems- Approach methodology, and standards for auditing information systems. IS Audit planning, performing an IS audit, rules of digital evidence, best practices and standards for IS audit.

Reviewing General Controls, Application Controls, Application control reviews: Review of controls at various levels/layers such as: Parameters, user creation, granting of access rights, input, processing and output controls.

Information Technology Regulatory issues
Overview of Specific section of IT Act 2008 & Rules as relevant for assurance: Electronic Contracting, digital signatures, cyber offences, etc. Need for systems audit as per various regulations such as: SEBI Clause 49 listing requirements and internal controls, systems control & audit requirements as per RBI, SEBI, IRDA. Concepts of Cyber forensics/Cyber Fraud investigation, Overview of Information Security Standards ISO 27001, ISAE 3402/SA 402, ITIL
Emerging Technology
Overview of Cloud Computing, Software as a Service, Mobile Computing & BYOD, Web 2.0 & social media, Green IT and related security and audit issues

PAPER–7: Direct Tax Laws

The Income-tax Act, 1961 and Rules there under:

While covering the direct tax laws, students should familiar is themselves with considerations relevant to tax management. These may include tax considerations with regard to specific management decisions, foreign collaboration agreements, international taxation, amalgamations, tax incentives, personnel compensation plans, inter relationship of taxation and accounting, with special reference to relevant accounting standards and other precautions to be observed to maximize tax relief. Further, they should have a basic understanding about the ethical considerations in tax management and compliance with taxation laws.

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PAPER 8: Indirect Tax Laws (Revised)

Section A: Central Excise
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time
Section C: Customs and Foreign Trade Policy
Customs Act, 1962, Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to the Customs Law

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