ICAI CA Final Group 1 Subjects: Syllabus, Pattern, Weightage, Exam Timings

Paper-1: Financial Reporting

• Introduction to Indian Accounting Standards
• Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)
• Ind AS on Presentation of General Purpose Financial Statements
• Ind AS on Measurement based on Accounting Policies
• Ind AS 115 “Revenue from Contracts with Customers”
• Annexure: Division II of Schedule III to the Companies Act, 2013
• Ind AS on Assets of the Financial Statements
• Other Indian Accounting Standards
• Ind AS on Liabilities of the Financial Statements
• Ind AS on Items impacting the Financial Statements
• Ind AS on Disclosures in the Financial Statements
• Accounting and Reporting of Financial Instrument
• Ind AS 103 “Business Combinations”
• Consolidated and Separate Financial Statements of Group Entities
• Ind AS 101 “First-time Adoption of Ind AS”
• Analysis of Financial Statements
• Professional and Ethical Duty of a Chartered Accountant
• Accounting and Technology

Paper-2: Advanced Financial Management

• Financial Policy and Corporate Strategy
• Risk Management
• Advanced Capital Budgeting Decisions
• Security Analysis
• Security Valuation
• Portfolio Management
• Securitization
• Mutual Funds
• Derivatives Analysis and Valuation
• Foreign Exchange Exposure and Risk Management
• International Financial Management
• Interest Rate Risk Management
• Business Valuation
• Mergers, Acquisitions and Corporate Restructuring
• Startup Finance

Paper-3: Advanced Auditing, Assurance and Professional Ethics

Module 1

• Quality Control
• General Auditing Principles and Auditors Responsibilities
• Audit Planning, Strategy and Execution
• Materiality, Risk Assessment and Internal Control
• Audit Evidence
• Completion and Review
• Reporting

Module 2

• Specialised Areas
• Audit-related Services
• Review of Financial Information
• Prospective Financial Information and Other Assurance Services
• Digital Auditing & Assurance
• Group Audits
• Special Features of Audit of Banks & Non-Banking Financial Companies

Module 3

• Overview of Audit of Public Sector Undertakings
• Internal Audit
• Due Diligence, Investigation & Forensic Accounting
• Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance
• Professional Ethics & Liabilities of Auditors

Paper 1

2:00 PM to 5:00 PM

Paper 2

2:00 PM to 5:00 PM

Paper 3

2:00 PM to 5:00 PM

Paper 1 Financial Reporting

70 Marks

30 Marks

Paper 2 Advanced Financial Management (AFM)

70 Marks

30 Marks

Paper 3 Advanced Auditing and Professional Ethics

70 Marks

30 Marks