CA Final, Chartered Accountant

CA Final Subjects for May 2023 Exam 

Searching for the CA final syllabus and subjects for May 2023? Then you are on the appropriate page. You may see the most recent CA final exam schedule, along with a thorough subject list for the May 2023 exam, here.

One last step to becoming a Chartered Accountant: CA Final.

Two groups make up the CA Final Syllabus 2023, which is then broken down into eight subjects with one subject being optional.

Students must receive a minimum of 40% in each subject and a minimum of 50% overall to pass the CA final exams. The CA final new syllabus paper has 100 total marks.

The CA final subjects and many other updated details about the CA final course are also available to students.

CA Final New Course 2023

The CA final exam is conducted twice a year, in May and November, by the ICAI. The dates for the CA final exams in May 2023 must be checked by students. The deadline for CA Final Registration is January 1, 2023, and ICAI has already begun the process. If a student passes both groups of CA intermediate exams, they are eligible to enroll for the CA final exams. Also, a candidate can only sit for the CA Final test after completing three years of practical training and the AICITSS. The final registration of the CA is valid for 5 years. In any case, students have eight more chances if they don’t pass the CA Final exam on their first try and need not pay the registration fees again during the duration of five years.

CA Final Subjects for May 2023

The CA final Syllabus is divided into 4 subjects in each group which are as follows:

 CA Final Group I Subjects 

  1. Paper 1- Financial Reporting
  2. Paper 2- Strategic Financial Management
  3. Paper 3- Advanced Auditing and Professional Ethics
  4. Paper 4- Corporate and Economic Laws

CA Final Group-II Subjects 

  1. Paper 5- Strategic Cost Management and Performance Evaluation
  2. Paper 6A- Risk Management

Paper 6B- Financial Services and Capital Markets

Paper 6C- International Taxation

Paper 6D- Economic Laws

Paper 6E- Global Financial Reporting Standards

Paper 6F- Multidisciplinary Case Study

  1. Paper 7- Direct Tax Laws and International Taxation
  2. Paper 8- Indirect Tax Laws

In the CA final course, each subject is equivalent on its own, and you must receive a score of 40% in each subject in addition to a cumulative mark of 50%.

In addition to the syllabus listed below, students should pay close attention to recent developments that may be relevant to their exam preparation, such as the publication of accounting standards, statements on standard auditing practices, guidance notes from the institute, and legislative amendments made six months prior to the exam.

CA Final Syllabus May 2023- Subject Wise

The comprehensive CA final syllabus, broken down by subject, for the upcoming 2023 exams is provided here. Go over the syllabus in detail for a better understanding of how to prepare for the CA final test in May 2023.

Paper 1: Financial Reporting Syllabus

(One paper – Three hours – 100 marks)

1Framework for Preparation and Presentation of Financial Statements
2Application of Indian Accounting Standards (Ind AS)
3Indian Accounting Standards on Group Accounting
4Accounting and Reporting of Financial Instruments (as per Ind AS)
5Analysis of Financial Statements
6Integrated Reporting
7Corporate Social Responsibility Reporting

Paper 2: Strategic Financial Management Syllabus

(One paper – Three hours – 100 marks)

1Financial Policy and Corporate Strategy
2Risk Management
3Security Analysis
4Security Valuation
5Portfolio Management
7Mutual Fund
8Derivatives Analysis and Valuation
9Foreign Exchange Exposure and Risk Management
10International Financial Management
11Interest Rate Risk Management
12Corporate Valuation
13Mergers, Acquisitions and Corporate Restructuring
14Startup Finance

Paper 3: Advanced Auditing and Professional Ethics Syllabus

(One paper – Three hours – 100 marks)

1Auditing Standards, Statements and Guidance Notes
2Audit Planning, Strategy and Execution
3Risk Assessment and Internal Control
4Special aspects of Auditing in an Automated Environment
5Audit of Limited Companies
6Audit Reports
7Audit Committee and Corporate Governance
8Audit of Consolidated Financial Statements
9Special features of audit of Banks, Insurance & Non Banking Financial Companies
10Audit under Fiscal Laws
11Audit of Public Sector Undertakings
12Liabilities of Auditors
13Internal Audit, Management and Operational Audit
14Due Diligence, Investigation and Forensic Audit
15Peer Review and Quality Review
16Professional Ethics

Paper 4: Corporate and Economic Law Syllabus

(One paper – Three hours – 100 marks)

Part 1 Corporate Law

Section A: Company Law

1The Companies Act, 2013
2Corporate Secretarial Practice

Section B: Securities Law

Part 2 : Economic Law

1The Foreign Exchange Management Act, 1999
2The Securitisation and Reconstruction of Financial Assets and Enforcement ofSecurity Interest Act, 2002
3The Prevention of Money Laundering Act, 2002
4Foreign Contribution Regulation Act, 2010
5The Arbitration and Conciliation Act, 1996
6The Insolvency and Bankruptcy Code, 2016

Paper 5 : Cost Management Syllabus

Part A: Strategic Cost Management and Decision Making

Sub Part A: Strategic Cost Management

1Introduction to Strategic Cost Management
2Modern Business Environment
3Lean System and Innovation
4Cost Management Techniques
5Cost Management for Specific Sectors

Sub Part B: Decision Making

1Decision Making
2Pricing Strategies/ Decisions

Paper 6: Management Information and Control Systems Syllabus

(One paper – Three hours – 100 marks)

Part B: Performance Evaluation and Control

Sub Part 1: Performance Evaluation and Reporting

1Performance Measurement and Evaluation
2Divisional Transfer Pricing
3Strategic Analysis of Operating Income

Sub Part 2: Managerial Control

1Budgetary Control
2Standard Costing

Part C: Case Study

Paper 6A: Risk Management (100 Marks)

1Introduction to risk
2Source and evaluation of risks
3Risk management
4Evaluation of Risk Management Strategies
5Risk model
6Credit Risk Measurement and Management
7Risk associated with Corporate Governance
8Enterprise Risk Management
9Operational Risk Management

Paper 6B: Financial Services and Capital Markets

1Global Financial Markets
2Impact of various Policies of Financial Markets
3Capital Market – Primary
4Capital Market – Secondary
5Money Market
6Institutions and Intermediaries
7Commodity Market
8Banking as source of Capital including NBFCs
9Mutual Funds
10Private Equity
11Investment Banking
12Credit Rating
13Treasury Operations
14Risk Management
15Credit Derivatives
16Leasing Decisions
18SEBI Guidelines

Paper 6C: International Taxation (100 Marks)

Part 1: International Taxation and Non-Resident Taxation in India

1Transfer Pricing provisions under the Income-tax Act, 1961
2Other Provisions relating to taxation of international transactions and non-resident taxationunder the Income-tax Act, 1961
3Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) andImposition of Tax Act, 2015

Part 2: Other Aspects of International Taxation

1Overview of Model Tax Conventions
2Tax treaties, Application and Interpretation
3Anti Avoidance Measures
4Taxation of E-Commerce Transactions

Paper 6D: Economics Law (100 Marks)

1World Trade Organization (WTO) covering its Role, Principles, Functions andDispute Settlement Mechanism
2Competition Act, 2002 and Rules/ Regulations
3Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
4Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
5Prevention of Money Laundering Act, 2002 and Rules/ Regulations
6Foreign Exchange Management Act, 1999 and Rules/ Regulations
7Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

Paper 6E: Global Financial Reporting Standards (100 Marks)

1Conceptual Framework for Financial Reporting as per IFRS
2Application of International Financial Reporting Standards
3Significant differences between IFRS and US GAAPs

Paper 6F: Multidisciplinary Case Study (100 Marks)

1Financial Accounting and Reporting
2Audit and Assurance
4Finance and Financial Management
5Management Accounting
6Corporate Laws
7Business Strategy and Management

Paper 7 : Direct Tax Law and International Taxation

Part 1: Direct Tax Law

1Basis of charge, residential status, income which do not form part of total income,
heads of income, income of other persons included in assesses total income, aggregation of income,
set-off and carry forward of losses, deductions from gross total income, rebates and reliefs
2Special provisions relating to companies and certain persons other than a company
3Provisions relating to charitable and religious trust and institutions, political parties and
electoral trusts
4Tax Planning, Tax Avoidance & Tax Evasion
5Collection & Recovery of Tax, Refunds
6Income-tax Authorities, Procedure for assessment, Appeals and Revision
7Settlement of Tax Cases, Penalties, Offences & Prosecution
8Liability in Special Cases
9Miscellaneous Provisions and Other Provisions

Part 2: International Taxation

1Taxation of international transactions and Non-resident taxation
2Overview of Model Tax Conventions – OECD & UN
3Application and interpretation of Tax Treaties
4Fundamentals of Base Erosion and Profit Shifting

PAPER 8: Indirect Tax Laws Syllabus

Part-I: Goods and Services Tax (75 Marks)

1Introduction to GST in India including Constitutional aspects
2Levy and collection of CGST and IGST
3Place of supply
4Time and Value of supply
5Input tax credit
6Computation of GST liability
7Procedures under GST including registration, tax invoice, credit and debit notes,electronic way bill, accounts and records, returns, payment of tax including tax deduction at source and tax collection at source, refund, job work
8Liability to pay in certain cases
9Administration of GST; Assessment and Audit
10Inspection, Search, Seizure and Arrest
11Demand and Recovery
12Offences and Penalties
13Advance Ruling
14Appeals and Revision
15Other provisions

Part 2: Customs and FTPs (25 Marks)

1Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
2Foreign Trade Policy to the extent relevant to the indirect tax laws

CA Final Exam Pattern

Check the CA Final exam pattern now that you are familiar with the CA Final syllabus and subjects. Upon beginning their studies for the CA Final test in May 2023, students must have a clear comprehension of the paper format.

Exam ModePen and Paper based Exam
Type of questionObjective as well as subjective
Medium of ExamEnglish/Hindi
Total Number of papers8
Marks100 marks each paper(800 in total)
Negative markingNo negative marking

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