Spread the love

Love crunching numbers? Have a deep interest in taxation and accounting? Then think about pursuing a CA Course. A career path in CA (Chartered Accountancy) is challenging but worth it for those who are genuinely passionate about this field. This article is a full-stack career guide to the CA Course and everything you would need to pursue a career in Chartered Accountancy.  

Before we go on to discuss how to become a CA, let us brush up some basic facts about what is CA and dig a tad bit more about the CA course.

What is CA/ Chartered Accountant? 

Chartered Accountants (CA) are certified public accountants. They are qualified in managing various financial services such as filing business’s tax returns, auditing financial statements and business practices, maintaining records of investments, tax planning, preparing and reviewing financial reports and documents, and wealth management. They are also qualified to provide advisory services to clients including individuals as well as business organizations.

All companies which are mandated by the Indian Laws to file their tax returns must get their accounts audited and certified by Chartered Accountants. If accounts or financial statements are not audited and certified by Chartered Accountants, the concerned company owners are liable for penal actions. Under the Indian Laws, only Chartered Accountants can audit and certify the financial accounts of various companies & business organizations.

Chartered Accountants have to register as a member of the ICAI. Members of the ICAI can either be an Associate Chartered Accountant (ACA) or Fellow Chartered Accountant (FCA) based on their experience. After clearing CA Final, candidates become eligible to be called as Chartered Accountants (CA) only after getting registered for the Associate Membership of the ICAI.

Members of the ICAI who have less than 5 years of experience are referred to as the Associate Chartered Accountants (ACAs). And ACAs who have been in continuous practice for five years are eligible for ICAI’s Fellow Membership. They are referred to as Fellow Chartered Accountants (FCAs).

Now that you know what is CA, it is equally important to know the official body that regulates this profession. Read this short intro to ICAI in the following section.

Overview of ICAI

Institute of Chartered Accountants of India (ICAI) is a professional public accounting authority established on 1st July 1949 as a statutory body under the Chartered Accountants Act, 1949, India. It was set up for the purpose of regulating the profession of Chartered Accountants. The ICAI is the world’s leading accounting body, regulator, and developer of professionals in accounting, assurance, taxation, finance, and business advisory services.

The ICAI offers several courses such as:

  1. Chartered Accountancy/ CA course;
  2. Post Qualification courses for Members such as Information Systems Audit (ISA), Diploma on Management and Business Finance (DMBF), Post Qualification Diploma in International Taxation, etc.;
  3. Certificate Courses for Members such as Certificate Course on GST, Certificate Course on Public Finance & Government Accounting, Certificate Course on Anti Money laundering Laws (Anti- Money Laundering Specialist), etc.

In this article, we will mainly focus on the Chartered Accountancy/ CA Course. Now that you know what is CA and the ICAI, CA regulatory body, let us now take a fine understanding of the entire CA course; the entry routes and much more.

In the following sections, you will learn the most preferred entry routes to pursue a CA course.

CA Course: Overview

CA course can be pursued after 12th class and even after graduation or post-graduation. There are two entry routes to pursue a CA course. Under the Scheme of Education and Training, students can pursue a CA course either through 1) Foundation Course Route; or 2) Intermediate Course Route.

Depending on what your educational qualification is, you can choose which entry route is suitable for you to pursue a CA course.

CA Course: Entry Routes
CA Course: Entry Routes

Let’s take a look ahead into each of these entry routes and understand how to become a CA.

How to Become a CA: After class 12th

To understand how to become a CA after class 12th, take help of the steps in the images below for entry to the CA course through the Foundation course route:

CA course: How to Become a CA after 12th
CA course: How to Become a CA after 12th

Steps to pursue a CA course after 12th class:

  1. You must enroll for the Foundation course after appearing in class 12th examinations or an equivalent examination recognized by the Central Government.
  2. You must complete 4 months of the Foundation Course study period i.e. register till 30th June/ 31st December
  3. After passing the class 12th examination, you must appear for the Foundation exam.
  4. After appearing for and qualifying foundation course, you must register with the Board of Studies (BOS) for the Intermediate Course and complete 8 months of the study period.
  5. After having appeared and passed in either one or both the Groups of Intermediate Course, complete the 4 weeks Integrated Course on Information Technology and Soft Skills (ICITSS) any time but before the commencement of the Practical Training.
  6. Register for 3 years Practical Training after qualifying the Intermediate course.
  7. Register for the CA Final Course and complete the 4 weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last 2 years of the Practical Training but before appearing for the Final Examination.
  8. Appear for and qualify the Final examination during the last 6 months of Practical Training. (Please note that you need to qualify both the groups of the Final course) Enroll as a member of ICAI and be designated as a Chartered Accountant.

How to Become a CA: After graduation

To understand how to become a CA after graduation, refer to the images and steps below for the direct entry route for the CA course:

CA course: How to become a CA after Graduation
CA course: How to become a CA after Graduation

Steps to pursue a CA course after graduation:

  1. Eligible graduates/ post graduates must register with the Board of Studies (BOS) for admission to Intermediate Course. Candidates who are still in the final year of their graduation are provided provisional admission.
  2. After registering for the Intermediate course, you must complete 8 months of the study period.
  3. You must then appear for and qualify either in one or both groups of the Intermediate course.
  4. You must then register for 3 years Practical Training after passing either one or both the groups of the Intermediate course.
  5. After this, you must register for the CA Final course and undergo 4 weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last 2 years of the Practical Training but before appearing for the Final Examination.
  6. Appear for and qualify the Final examination during the last 6 months of Practical Training. (Please note that you need to qualify both the groups of the Final course) Enroll as a member of ICAI and be designated as a Chartered Accountant.

Candidates who are Graduates/ Post Graduates in Commerce having scored a minimum aggregate of 55% or equivalent grade in the final examination are eligible to join the CA course Intermediate level.

Candidates who are Graduates/ Post Graduates in subjects other than commerce with a minimum aggregate of 60% marks in the final examination are also eligible to join the CA Intermediate course.

CA Foundation Course: Eligibility

  • A Candidate who has passed Senior Secondary (10+2) examination conducted by an examining body constituted by law in India or an examination is recognized by the Central Government or the State Government as equivalent is eligible for the CA Foundation course.
  • A candidate is declared to have passed the Foundation examination if he/ she acquires a minimum of 40% marks in each paper and over 50% minimum marks in the sum of all papers.
  • Please note that the candidate shall be admitted to the Foundation examination if he/ she has registered on or before 30th June/31st December, for the examination to be held in November/May respectively.

CA Foundation Course: Admission & Registration process

The CA admission procedure is done via the ICAI online portal for filling up and submission of self-attested documents.

  • Candidates are required to visit the official website of ICAI student services and click on the link- Entry-level forms (Foundation and Intermediate).
  • Candidates must have a valid email address and mobile number for the registration process and submit softcopies of the required documents.
  • After the successful submission of forms, the documents submitted by the candidates will be verified and registration of the candidate to the CA course will be confirmed by the institute.
  • After confirmation, the candidates will also be notified about the procedure to order study materials through the centralized distribution system portal.
  • Take a look at the CA foundation registration fee details below:
CategoryAmount
Cost of Foundation ProspectusRs. 200
Foundation Registration Fee Rs. 9,000
Subscription for Members’ Journal (Optional) Rs. 400
CA course Fee details

CA Intermediate Course: Eligibility

  • Candidates can register for Intermediate level of CA Course through 2 routes:
    • Candidates can register for intermediate level after qualifying Foundation Course, or
    • Through Direct entry route
  • ICAI allows candidates to enter directly to the Intermediate course to:
    • Commerce Graduates/Post-Graduates (with minimum 55% marks) or Other Graduates/Post-Graduates (with minimum 60% marks) and
    • Intermediate level passed candidates of the Institute of Company Secretaries of India and Institute of Cost Accountants of India.
  • Candidates who are pursuing the final year of graduation course are also eligible to register for the intermediate course on a provisional basis.
  • In the provisional admission, candidates’ registration would be regularized only on submission of satisfactory proof of having passed the Graduation with the needed percentage of marks within 6 months from the date of appearance in the final year graduation examination then they can commence practical training and on completion of ICITSS {Information Technology (IT) and Orientation Course (OC)}.
  • Existing candidates of the Common Proficiency Course (CPC)/ Foundation Course (FC) on being eligible to join the intermediate course through direct entry can register for the Intermediate course anytime by paying the Intermediate Registration fees only by paying Rs 500 as conversion charges.

CA Intermediate Course: Admission & Registration process

Candidates’ admission and registration process are done through the same web portal for both Intermediate and Final courses.

  • Candidates are required to submit self-attested documents online by visiting the official visit the official website of ICAI student services and click on the link- Entry-level forms (Foundation and Intermediate).
  • Candidates for Direct Entry may also register by filling the Online Registration Form given on the Page. Click on the link – Entry-level forms [Foundation and Intermediate (Direct Entry)].
  • Candidates of the Foundation route can also convert to a direct entry route by logging into the Self-service portal and follow the process of conversion.
  • Take a look at the CA Intermediate registration fee details below:
CategoryAmount (For both groups)Groups I/II
Registration FeeRs. 15,000Rs. 11,000
Students’ Activities FeeRs. 2,000Rs. 2,000
Registration fee as articled assistantRs. 1,000
CA course Fee details

CA Final Course: Eligibility

After successfully passing the Intermediate course examinations, students enter the last step of the Chartered Accountancy i.e. CA Final Course. The candidate shall be admitted to the Final examination if

  • He/she has registered for the Final Course;
  • Has completed the Practical Training on or before the last day of the month preceding the month in which the examination is to be held or has been serving the last six months of practical training;
  • Has completed the Advanced Integrated Course on Information Technology and Soft Skills (Adv. IT & MCS).

Students are requested to keep a tab on the Institute’s official website regularly for updates and the latest notifications.

CA Final Course Admission & Registration process

Candidates’ admission and registration process are done through the same web portal for both Intermediate and Final courses.

  • Candidates are required to submit self-attested documents online by visiting the official visit the official website of ICAI student services for registration to the final course.
  • The CA Final course comprises of two Groups- Group I and Group II. Group I consists of Four Core papers and Group II consists of Three Core Papers along with One Elective Paper. Students at the time of registration for the Final Course have to opt for one out of the six options available in the Elective Paper.
  • Take a look at the CA Final course registration fee details below:
CategoryAmount
Final Registration Fee Rs. 22,000

Requirements for Passing the CA Final Examinations

  • Students are given the option to appear in both the groups simultaneously or in one group in one examination and the remaining group at any subsequent examination.
  • The student is declared to have passed the final examination if he/ she passes both the groups.

A candidate shall ordinarily be declared to have passed in both the groups simultaneously if he/she

  1. Secures at one sitting a minimum of 40% marks in each paper of each of the groups and a minimum of 50% marks in the aggregate of all the papers of each of the groups; or
  2. Secures at one sitting a minimum of 40% marks in each paper of both the groups and a minimum of 50% marks in the aggregate of all the papers of both the groups taken together.

A candidate shall be declared to have passed in a group if she/he secures at one sitting a minimum of 40% marks in each paper of group and a minimum of 50% marks in the aggregate of all the papers of that group.

CA Course: Future Prospects& Job Opportunities

The introduction of new tax reforms like Goods and Services Tax (GST) and the overall increase in the number of economic activities have boosted the demand for Chartered Accounts in almost all the sectors.

According to the Economic Times report, a total of 3,815 job offers were made to the 6,646 qualified CAs who opted to take part in the placement cycle of ICAI in February-March 2019. Companies like Accenture, Alstom, Barclays Global Services, Flipkart, Amazon, ITC, and ANI Technologies (Ola), etc. meticulously hire CAs from ICAI campus placements every year.

Moreover, with a total population of 130 crore taxpayers, only 1.46 crore people pay tax on their income in India. As of recent reports, there are 2.82 lakh Chartered Accountants out of which only 1.25 lakh members are practicing full time. The numbers point towards a huge demand for CAs in the coming years.

CA Job opportunities

Chartered accountants may find work in almost all the sectors of including public and private limited companies, financial firms, Capital market services, Legal & auditing firms, and so on.

  1. In publicly/private owned Chartered Accounting firms,
  2. In large scale consulting firms such as Deloitte, KPMG, Barclays, etc.
  3. In the government sector such as NRHM (National Rural Health Mission), GAIL (India) Limited, Metro Rail Corporation LTD, LIC (Life Insurance Corporation of India), etc.
  4. In public/private sector banks such as Regional Rural Banks (RRB), Indian Overseas Bank, Punjab National Bank, etc.
  5. In any mid to large scale companies across all sectors of the industries.

Some of the common specialized job roles of CAs are:

  1. Auditor
  2. Finance Manager
  3. Internal Auditor
  4. GST Expert
  5. Tax Manager
  6. Consultant
  7. Tax Advisor
  8. Management Accountant

CA Foundation Course Syllabus

Name of PaperTotal Marks
Paper-I Principles and Practice of Accounting100 Marks
Paper-II Business Laws & Business Correspondence and Reporting100 (60+40) Marks
Paper-III Mathematics, Logical Reasoning and Statistics100 (40+20+40) Marks
Paper-IV Business Economics & Business and Commercial Knowledge100 (60+40) Marks
CA Course Foundation level

Paper 1: Principles and Practice of Accounting

  1. Theoretical Framework
  2. Accounting Process
  3. Bank Reconciliation Statement
  4. Inventories
  5. Concept and Accounting of Depreciation
  6. Accounting for Special Transactions
  7. Final Accounts of Sole Proprietors
  8. Partnership Accounts
  9. Financial Statements of Not-for-Profit Organizations
  10. Introduction to Company Accounts

Paper 2: Business Laws & Business Correspondence and Reporting

Section A – Business Laws

  1. The Indian Contract Act, 1872
  2. The Sale of Goods Act, 1930
  3. The Indian Partnership Act, 1932
  4. The Limited Liability Partnership Act, 2008
  5. The Companies Act, 2013

Section B – Business Correspondence and Reporting

  • Part I Communication
  • Part II Sentence Types and Word Power
  • Part III Comprehension Passages and Note Making
  • Part IV Developing Writing Skills

Paper 3: Business Mathematics, Logical Reasoning, and Statistics

Part A: Business Mathematics

  1. Ratio and Proportion, Indices and Logarithms
  2. Equations and Matrices
  3. Linear Inequalities with Objective Functions and Optimization w.r.t. objective function
  4. Time value of Money
  5. Permutations and Combinations
  6. Sequence and Series
  7. Sets, Relations, and Functions
  8. Basic applications of Differential and Integral calculus

Part B: Logical Reasoning

  1. Number Series, Coding and Decoding, and odd man out
  2. Direction Tests
  3. Seating Arrangements
  4. Blood Relations
  5. Syllogism

Part C: Statistics

  1. Statistical description of Data
  2. Measures of Central tendency and Dispersion
  3. Probability
  4. Theoretical Distributions
  5. Correlation and Regression
  6. Index Numbers and Time Series

Paper 4 – Business Economics & Business and Commercial Knowledge

Part I – Business Economics

  1. Introduction to Business Economics
  2. Theory of Demand and Supply
  3. Theory of Production and Cost
  4. Price Determination in Different Markets
  5. Business Cycles

Part II – Business and Commercial Knowledge

  1. Business and Commercial Knowledge
  2. Business Environment
  3. Business Organizations
  4. Government Policies for Business Growth
  5. Organizations Facilitating Business
  6. Common Business Terminologies

CA Intermediate Course Syllabus

Paper NameTotal Marks
Paper 1 Accounting100 Marks
Paper 2 Corporate and Other Laws100 (60+40) Marks
Paper 3 Cost and Management Accounting100 Marks
Paper 4 Taxation100 (60+40) Marks
Paper 5 Advanced Accounting100 Marks
Paper 6 Auditing and Assurance100 Marks
Paper 7 Enterprise Information Systems & Strategic Management100 (50+50)
Paper 8 Financial Management & Economics for Finance100 (60+40) Marks
CA course Intermediate level

Paper 1- Accounting

  1. Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs
  2. Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
  3. Application of Accounting Standards
  4. Company Accounts
  5. Accounting for Special Transactions
  6. Special Type of Accounting

Paper 2- Corporate and Other Laws

Part I: Company Law

The Companies Act, 2013 – Sections 1 to 148

Part II: Other Laws

  1. The Indian Contract Act, 1872 (Specific contracts covered from section 123 onwards)
  2. The Negotiable Instruments Act, 1881
  3. The General Clauses Act, 1897
  4. Interpretation of Statutes

Paper 3 Cost and Management Accounting

  1. Overview of Cost and Management Accounting
  2. Ascertainment of Cost and Cost Accounting System
  3. Methods of Costing
  4. Cost Control and Analysis

Paper 4- Taxation

Section A: Income-tax Law

  1. Basic Concepts
  2. Residential status and scope of total income
  3. Incomes which do not form part of total income
  4. Heads of income and the provisions governing computation of income under different heads
  5. The income of other persons included in assessee’s total income
  6. Aggregation of income; Set-off, or carry forward and set-off of losses
  7. Deductions from gross total income
  8. Computation of total income and tax liability of individuals
  9. Advance tax, tax deduction at source, and introduction to tax collection at source
  10. Provisions for filing return of income and self-assessment

Section B: Indirect Taxes

  1. Concept of indirect taxes
  2. Goods and Services Tax (GST) Laws

Group II – Paper 5- Advanced Accounting

  1. Application of Accounting Standards
  2. Special Aspects of Company Accounts
  3. Reorganization and liquidation of Companies
  4. Banking Companies and Non-Banking Financial Companies and regulatory requirements thereof
  5. Consolidated Financial Statements
  6. Dissolution of partnership firms including piecemeal distribution of assets

Paper 6- Auditing and Assurance

  1. Nature, Objective, and Scope of Audit
  2. Audit Strategy, Audit Planning, and Audit Program
  3. Audit Documentation and Audit Evidence
  4. Risk Assessment and Internal Control
  5. Fraud and Responsibilities of the Auditor in this Regard
  6. Audit in an Automated Environment
  7. Audit Sampling
  8. Analytical Procedures
  9. Audit of Items of Financial Statements
  10. The Company Audit
  11. Audit Report
  12. Audit of Banks
  13. Audit of Different Types of Entities

Paper 7- Enterprise Information Systems & Strategic Management

Section A: Enterprise Information Systems

  1. Automated Business Processes
  2. Financial and Accounting Systems
  3. Information Systems and its Components
  4. E-commerce, M-commerce, and Emerging Technologies
  5. Core Banking Systems

Section B: Strategic Management

  1. Introduction to Strategic Management
  2. Dynamics of Competitive Strategy
  3. Strategic Management Process
  4. Corporate Level Strategies
  5. Business Level Strategies
  6. Functional Level Strategies
  7. Organization and Strategic Leadership
  8. Strategy Implementation and Control

Paper 8- Financial Management & Economics for Finance

Section A – Financial Management

  1. Financial Management and Financial Analysis
  2. Financing Decisions
  3. Capital Investment and Dividend Decisions
  4. Management of Working Capital

Section B: Economics for Finance

  1. Determination of National Income
  2. Public Finance
  3. The Money Market
  4. International Trade

CA Final Course Syllabus

Paper 1: Financial Reporting

  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

  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

  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 an 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 Laws

Part I: Corporate Laws

Section A: Company Law

  1. The Companies Act, 2013 and Rules framed thereunder
  2. Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes, and Reports

Section B: Securities Laws

  1. The Securities Contract (Regulation) Act, 1956 and the Securities Contract (Regulation) Rules, 1957
  2. The Securities Exchange Board of India Act, 1992, and SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

Part II: Economic Laws

  1. The Foreign Exchange Management Act, 1999
  2. The Securitization and Reconstruction of Financial Assets and Enforcement of Security 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- Strategic Cost Management and Performance Evaluation

Part A: Strategic Cost Management and Decision Making

Sub Part I: 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 II: Strategic Decision Making

  1. Decision Making
  2. Pricing Strategies/Decisions

Part B: Performance Evaluation and Control

Sub Part I: Performance Evaluation and Reporting

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

Sub Part II: Managerial Control

  1. Budgetary Control
  2. Standard Costing

Part C: Case Study

Case Study (covering Course Concepts)

Paper 6A- Risk Management

  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

Paper 6C International Taxation

Part I: Taxation of International Transactions & Non-resident Taxation in India

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

Part II: 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 Economic Laws

  1. Competition Act, 2002 and Rules/ Regulations
  2. Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
  3. Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
  4. Prevention of Money Laundering Act, 2002 and Rules/ Regulations
  5. Foreign Exchange Management Act, 1999 and Rules/ Regulations
  6. Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

Paper 6E Global Financial Reporting Standards

  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 Multi-disciplinary Case Study

This paper will include Case Studies covering the following areas.

  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 Laws & International Taxation

Part I: Direct Tax Laws

Law and Procedures under the Income-tax Act, 1961

Part II: 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

Part I: Goods & Services Tax

Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017 including:

  1. Introduction to GST in India including Constitutional aspects
  2. Levy and collection of CGST and IGST – Application of CGST/IGST law
  3. Place of supply
  4. Time and Value of supply
  5. Input tax credit
  6. Computation of GST liability
  7. Procedures under GST
  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. Offenses and Penalties
  13. Advance Ruling Appeals and Revision
  14. Other Provisions

Part II: Customs & FTP

Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975

  1. Introduction to customs law including Constitutional aspects
  2. Levy of and exemptions from customs duties
  3. Types of customs duties
  4. Classification and valuation of imported and export goods
  5. Officers of Customs
  6. Import and Export Procedures
  7. Drawback

Foreign Trade Policy to the extent relevant to the indirect tax laws:

  1. Introduction to FTP
  2. Basic concepts relating to import and export
  3. Basic concepts relating to export promotion schemes provided under FTP

Summing Up

In the above article, we discussed in detail the CA course, how to become a CA in India, CA Eligibility and syllabus, and much more. We hope we served all the information that you were looking for. If not, then you can head down to the comments section and communicate what we missed and what more you would like to know!

If you are unsure about the CA pathway, then make sure you talk to iDreamCareer’s expert career counsellors and understand if CA is the right course for you!

Useful Links