CA Final

According to ICAI, a candidate has to score a minimum of 40% in each subject and an aggregate of 50% in all subjects to clear CA Final exam. In case, they score 60 or more marks in one subject and fails in another, they can apply for exemption.

It is not possible to crack CA Final exam with only 3 month preparation. CA Final is considered to be the toughest of the three ICAI CA level - Foundation, Intermediate and Final. Students usually take 3-4 attempts to clear this exam.

ICAI may change the CA Final eligibility for candidates to apply for the exam. If and when changed, ICAI will release the official notice with updated CA Final eligibility criteria.

The CA Final Paper 2 - Advanced Financial Management includes following topics:

• 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

The ICAI CA final exam duration for Paper 1 to 5 is 3 hours and for Paper 6 is 4 hours. Additionally, there is no sectional time limit in the exam.

ICAI CA Final course is divided into two groups. Each group has three papers. Check below for list:

GROUP I

Paper-1: Financial Reporting

Paper-2: Advanced Financial Management

Paper-3: Advanced Auditing, Assurance and Professional Ethics

GROUP II

Paper-4: Direct Tax Laws & International Taxation

Paper-5: Indirect Tax Laws

Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) 

ICAI CA Final exam is the toughest among all three CA courses due to its vast and extensive syllabus. The papers included in CA Final course are tough to crack in first attempt. The pass percentage of CA Final exams is very low - 25%. It takes 3-4 attempts by students to clear this exam.

There are 6 papers divided into two groups in CA Final exam. These are Financial Reporting, Advanced Financial Management (AFM), Advanced Auditing and Professional Ethics, Multi-disciplinary case study with Strategic Management, Direct Tax Laws and International Taxation and Indirect Tax Laws. According to CA Final pattern, each paper will have subjective questions of 70 marks and objective questions of 30 marks.

After ICAI releases CA Final result, if a candidate has not passed the exam, he/she will have to take another attempt (if applicable within current registration cycle). But, If a candidate has passed the exam, he/she can start their independent practice or join a firm as CA or analyst.