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

3. Paper 7- Direct Tax Laws and International Taxation
4. 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)

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

Paper 2: Strategic Financial Management Syllabus

(One paper – Three hours – 100 marks)

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

Paper 3: Advanced Auditing and Professional Ethics Syllabus

(One paper – Three hours – 100 marks)

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

Paper 4: Corporate and Economic Law Syllabus

(One paper – Three hours – 100 marks)

Part 1 Corporate Law

Section A: Company Law

1	The Companies Act, 2013
2	Corporate Secretarial Practice

Section B: Securities Law

Part 2 : Economic Law

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

Paper 5 : Cost Management Syllabus

Part A: Strategic Cost Management and Decision Making

Sub Part A: Strategic Cost Management

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

Sub Part B: Decision Making

1	Decision Making
2	Pricing 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

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

Sub Part 2: Managerial Control

1	Budgetary Control
2	Standard Costing

Part C: Case Study

Paper 6A: Risk Management (100 Marks)

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

Paper 6B: Financial Services and Capital Markets

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

Paper 6C: International Taxation (100 Marks)

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

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

Part 2: Other Aspects of International Taxation

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

Paper 6D: Economics Law (100 Marks)

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

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

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

Paper 6F: Multidisciplinary Case Study (100 Marks)

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

Paper 7 : Direct Tax Law and International Taxation

Part 1: Direct Tax Law

1	Basis 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
2	Special provisions relating to companies and certain persons other than a company
3	Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts
4	Tax Planning, Tax Avoidance & Tax Evasion
5	Collection & Recovery of Tax, Refunds
6	Income-tax Authorities, Procedure for assessment, Appeals and Revision
7	Settlement of Tax Cases, Penalties, Offences & Prosecution
8	Liability in Special Cases
9	Miscellaneous Provisions and Other Provisions

Part 2: International Taxation

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

PAPER 8: Indirect Tax Laws Syllabus

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

1	Introduction to GST in India including Constitutional aspects
2	Levy and collection of CGST and IGST
3	Place of supply
4	Time and Value of supply
5	Input tax credit
6	Computation of GST liability
7	Procedures 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
8	Liability to pay in certain cases
9	Administration of GST; Assessment and Audit
10	Inspection, Search, Seizure and Arrest
11	Demand and Recovery
12	Offences and Penalties
13	Advance Ruling
14	Appeals and Revision
15	Other provisions

Part 2: Customs and FTPs (25 Marks)

1	Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
2	Foreign 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 Mode	Pen and Paper based Exam
Type of question	Objective as well as subjective
Medium of Exam	English/Hindi
Total Number of papers	8
Marks	100 marks each paper(800 in total)
Negative marking	No negative marking