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CA INTERMIDIATE- Syllabus, Marking system

Exam mode

Pen and paper-based examination

Type of questions

Objective and subjective

Medium of exam

English and Hindi

Total no. of papers

8

Total marks

800 (100 marks each paper)

Negative marking

No negative marking

Conducting body

ICAI

CA Intermediate Syllabus New Course Updates 2021

ICAI has made changes in the CA intermediate exam syllabus from May 2021 exam. ICAI has added some new topics in the syllabus and also removed some old topics. Changes made in the CA Syllabus by ICAI are mentioned below:

Topics added in the CA Intermediate Syllabus 2021

  • Accounting topics of paper is now terminated to paper 5 advanced accounting.

  • ICAI has added some dissolution of Partnership firms including piecemeal distribution of assets along with the conversion of partnership firm into a company and sale to a company which is an issue that is related to accounting in limited liability partnership.

Topics removed from the CA Intermediate Syllabus May 2021

  • Underwriting of shares and debentures.

  • Valuation of goodwill.

  • Application of Guidance Notes issued by the ICAI on specified accounting aspects.

  • Financial Reporting of Insurance Companies and Mutual Funds and regulatory requirements thereof.

Subjects and marks distribution

Paper

Subject

Section

Marks

Type

Paper 1

Accounting

 

(100 Marks)

Descriptive

Paper 2

Corporate Laws and Other Laws

  

70% Descriptive
30% Objective

  

Corporate Laws

(60 Marks)

 
  

Other Laws

(40 Marks)

 

Paper 3

Cost and Management Accounting

 

(100 Marks)

Descriptive

Paper 4

Taxation

  

70%

    

Descriptive
30% Objective

  

Direct Tax Laws

(60 Marks)

 
  

Indirect Tax Laws

(40 Marks)

 

Paper 5

Advanced Accounting

 

(100 Marks)

Descriptive

     

Paper 6

Auditing and Assurance

 

(100 Marks)

70% Descriptive
30% Objective

Paper 7

Enterprise Information System and Strategic Management

  

70% Descriptive
30% Objective

  

Enterprise Information System

(50 Marks)

 
  

Strategic Management

(50 Marks)

 

Paper 8

Financial Management and Economics for Finance

  

Descriptive

  

Financial Management

(60 Marks)

 
  

Economics for Finance

(40 Marks)

 

Syllabus

Paper 1– ACCOUNTING

  • Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve-outs.

  • Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards).

  • Applications of Accounting Standards

  • Company Accounts

  • Accounting for Special Transactions

  • Special Type of Accounting

Paper 2– CORPORATE AND OTHER LAWS 

  • Preliminary

  • Incorporation of Company and Matters Incidental thereto

  • Prospectus and Allotment of Securities

  • Share Capital and Debentures

  • Acceptance of Deposits by Companies

  • Registration of Charges

  • Management and Administration

  • Declaration and Payment of Dividend

  • Accounts of Companies

  • Audit and Auditors

Part II- Other Laws

  • The Contract Act, 1872

  • The Negotiable Instruments Act, 1881

  • The General Clauses Act, 1897

  • Interpretation of statutes

Paper 3– COST AND MANAGEMENT ACCOUNTING 

  • Overview of Cost and Management Accounting

  • Ascertainment of Cost and Cost Accounting System

  • Methods of Costing

  • Cost Control and Analysis

Paper 4– TAXATION 

Part A– Income Tax Law

  • Basic Concepts

  • Residential Status and scope of total income

  • Incomes that do not form part of total income (other than charitable trusts and institutions, political parties, and electoral trusts)

  • Heads of income and provisions governing computation of income under different heads

  • The income of other persons included in the 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 liability of individuals

  • Advance tax, tax deduction at source, and Introduction to tax collection at source

  • Provisions for filing return of income and self-assessment

Part B– Indirect Taxes

  • Concept of Indirect Taxes

  • Goods and Service Tax (GST) Laws

Paper 5– ADVANCED ACCOUNTING

  • Application of Accounting Standards

  • Special Aspects of Company Accounts

  • Reorganization and Liquidation of Companies

  • Banking Companies and Non-Banking Financial Companies and regulatory requirements thereof

  • Consolidated Financial Statements

  • Dissolution of partnership firms

Paper 6– AUDITING AND ASSURANCE

  • Nature, Objective, and Scope of Audit

  • Audit Strategy, Audit Planning, and Audit Programme

  • Audit Documentation and Audit Evidence

  • Risk Assessment and Internal Control

  • Fraud and Responsibilities of the Author in this Regard

  • Audit in an Automated Environment

  • Audit Sampling

  • Analytical Procedures

  • Audit of Items of Financial Statements

  • The Company Audit

  • Audit Report

  • Audit of Banks

  • Audit of Different Types of Entities

Paper 7– ENTERPRISE INFORMATION SYSTEM AND STRATEGIC MANAGEMENT 

Section A– Enterprise Information System

  • Automated Business Processes

  • Financial and Accounting Systems

  • Information Systems and its Components

  • E-commerce, M-commerce, and Emerging Technologies

  • Core Banking Systems

Section B–Strategic Management

  • Introduction to Strategic Management

  • Dynamics of Competitive Strategy

  • Strategy Management Process

  • Corporate Level Strategies

  • Business Level Strategies

  • Functional Level Strategies

  • Organization and Strategic Leadership

  • Strategy Implementation and Control

Paper 8– FINANCIAL MANAGEMENT AND ECONOMICS FOR FINANCE

Part A– Financial Management

  • Financial Management and Financial Analysis

  • Financing Decisions

  • Capital Investment and Dividend Decisions

  • Management of Working Capital

Part B– Economics for Finance

  • Determination of National Income

  • Public Finance

  • The Money Market

  • International Trade

FAQ

You can carry a battery-operated portable calculator

NO, there is no negative marking for wrong answer. 

A Chartered Accountancy student can take up 8 attempts for Intermediate Exams. After which, the registration should be renewed by repeating the process.

You need to fulfill following criteria:

  • Minimum of 40% marks on each paper 
  • An aggregate of 50% of marks in all papers 

Subjects for CA intermediate group 2 are Advanced Accounting, Auditing, and Assurance, Enterprise Information Systems & Strategic Management (Section A and Section B), Financial Management & Economics for Finance.

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