Understanding the CA New Syllabus: Key Subjects and Their Importance

Understanding the CA New Syllabus: Key Subjects and Their Importance

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Starting from May 2024 onwards, The Institute of Chartered Accountants of India (ICAI) has a new syllabus proposed for the CA Final exams. What will be the new changes? How will they affect the students studying for the exams? We, at CAPS Nagpur can help you get the answers here.

Important Changes in the New Syllabus:

Several significant modifications are aimed to align the CA course with the developing requirements of the profession. The addition of a new paper called Integrated Business Solutions (Multi-disciplinary case study with Strategic Management) is one of the most visible changes. This paper encourages students to use their knowledge of their business disciplines like finance, accounting, marketing etc. to solve real-life business problems. MCQs (Multiple choice questions) are also introduced in all CA Intermediate as well as CA Final subjects. Starting from May 2024 onwards, a notable change in the CA revised scheme is the shortening of the time allocated to the CA Articleship from three years to two years. As a result of this, the total duration of the course has been reduced from 48 to 42 months. Marks of all the CA Intermediate and CA Final New Course subjects will now be affected due to the negative marking of 25% proposed in the new syllabus. For more clarification, you can reach out to us and we can help you as we are helping thousands of students every year through our CA coaching in Nagpur.

Other changes in the revised syllabus are:

Lesser number of papers: To lessen the pressure and the strenuous workload for the students, the new syllabus has reduced the number of papers to be attempted in the CA final exams from eight to six.

More emphasis on analytical and strategic thinking: In today’s fast-developing professional world, a critical attribute to making sound, logical business decisions is the ability of the students to think in the right direction. This revised course strives to help the students develop strong analytical and strategic thinking abilities to help them in their careers.

Interdisciplinary approach: Integration of different subjects connecting multiple areas of accounting is done in the new syllabus which provides the students a holistic approach towards their profession. This interdisciplinary method of merging diverse disciplines will ensure that the students are offered well-rounded, comprehensive learning.

Introduction of new topics: In the new curriculum, cutting-edge topics like risk management and data analytics are included which are of immense importance for accounting. Learning these topics equips the students with the crucial skills and knowledge required to tackle contemporary challenges.

Benefits

The new CA Final Syllabus 2024 is beneficial offers several in several ways to aspiring Chartered Accountants:

Comprehensive education: Students get a more comprehensive outlook of the accounting profession and the way it interacts with other business domains through this new syllabus.

More relevance: This revised syllabus is designed keeping in mind the evolving professional needs of the current times. It ensures that students have all the required knowledge and skills as demanded by the industry after they pass this course.

Better challenges: Even though it may seem that the new syllabus is more difficult at times, it gives the students a better chance to understand their subjects well and strengthen their professional abilities.

Details of the subjects present in the new syllabus

Earlier, at the CA foundation level, there were earlier six subjects in the course. Now two of them namely; Business Corresponding and Commercial Knowledge have been removed from the syllabus. Each paper will consist of a total of 100 marks.

So, according to the new syllabus, the four subjects that will be present are:

New Syllabus

Current Syllabus

Paper – 1: Accounting

Paper – 1: Principles and Practice of Accounting

Paper – 2: Business Laws

Paper – 2: Business Laws and Business            Correspondence and Reporting

Paper – 3: Quantitative Aptitude

                   - Business Mathematics

                   - Logical reasoning

                   - Statistics

Paper – 3: Business Mathematics and Logical Reasoning and Statistics

Paper – 4: Business Economics

Paper – 4: Business Economics & Business and Commercial Knowledge

Some of the most important tools and techniques to be taught in the CA Final New Syllabus 2024:

Ratio analysis

Break-even analysis

Financial analysis

Portfolio analysis

Cost-volume-profit analysis

Trend analysis

Sensitivity analysis

Game theory

Decision trees

PESTEL analysis and

SWOT analysis

This revised curriculum also includes relevant subjects like risk management, data analytics, corporate governance, professional ethics and sustainability. Familiarising themselves with these tools and techniques will help the students develop the essential skills to properly analyse financial data, make informed business judgements, and provide a superior-quality service to their clients.

If you are looking out for CA Coaching in Nagpur, contact us now. Our expert faculty has an average of 17 years of teaching experience. We have been conducting CA classes in Nagpur for more than three decades and have been consistently instrumental in producing all-India rank holders every year.

Contact us:

DGS CAPS Nagpur

Mobile Number: 9693 120 120

Website: www.capslearning.org