CA inter syllabus under the new scheme

The two groups at a glance

You can write one group at a time or both together in the same attempt. Intermediate exams now run in three windows each year (January, May and September); the exam calendar on icai.org gives the exact dates for each attempt.

CA intermediate exam pattern and passing rules

Under the new scheme, each paper has two kinds of questions: a part of case scenario based multiple choice questions, which ICAI has set at 30 marks, and a descriptive part of 70 marks. There is no negative marking for the MCQs. Read the exact split for your paper in the ICAI announcement, as the format of a section can be revised.

• To pass a group, you need at least 40 percent in each paper of the group and at least 50 percent in the total of that group.
• If you score 60 percent or more in a paper but fail the group, you may get an exemption in that paper for a limited number of later attempts, under the rules ICAI notifies.
• Taxation and the law papers are tested on the law as amended up to a cut off date that ICAI announces for each attempt.

Group I papers in detail

Paper 1: Advanced Accounting

Accounting Standards applicable at this level, preparation of company financial statements, buyback of securities, amalgamation and internal reconstruction, consolidated statements of a group, and branch accounts including foreign branches.

Paper 2: Corporate and Other Laws

The larger part covers the Companies Act and the Limited Liability Partnership Act: incorporation, share capital, deposits, registration of charges, management and administration, meetings, dividends and accounts. The other laws part covers the General Clauses Act, interpretation of statutes and the Foreign Exchange Management Act.

Paper 3: Taxation

Section A, income tax: basic concepts, residential status, the five heads of income, clubbing, set off and carry forward of losses, deductions, computing total income and tax, advance tax, TDS and TCS, and filing of returns. Section B, GST: supply and charge of tax, exemptions, time and value of supply, input tax credit, registration, invoices, payment of tax and returns.

Group II papers in detail

Paper 4: Cost and Management Accounting

Cost sheets, material and employee cost, overheads, activity based costing, job, batch and process costing, joint and by products, service costing, standard costing and variances, marginal costing and budgetary control.

Paper 5: Auditing and Ethics

Standards on Auditing, audit planning and documentation, risk assessment and internal control, audit evidence, audit of items in financial statements, company audit, audit reports, bank audit basics, and professional ethics with the terms of audit engagements.

Paper 6: Financial Management and Strategic Management

Section A, financial management: sources of finance, cost of capital, capital structure, leverage, capital budgeting, dividend decisions and working capital management. Section B, strategic management: the strategic management process, analysis of the external and internal environment, strategic choices, and implementation and evaluation of strategy.

How to plan both groups of the CA inter syllabus

Most students prepare for eight to ten months if they plan to take both groups together. A workable order is:

1. Start with Advanced Accounting and Cost and Management Accounting together, since both need daily numerical practice.
2. Run law and auditing in parallel as reading subjects, two hours a day, writing answers in the ICAI language of sections and standards.
3. Take up taxation once the amendments applicable to your attempt are announced, so you do not study an outdated version.
4. Finish FM and SM last, but practise SM case questions, as the MCQ part leans on applying concepts to short cases.

Study material to use

The ICAI Board of Studies study material is the core for every paper, because exam questions follow its language and illustrations. The official syllabus of CA intermediate, published by the Board of Studies, is the list to tick off; the CA intermediate syllabus document sets out every chapter paper by paper. Add the revision and mock papers that ICAI puts out ahead of every attempt, and the bare act sections for law and tax. For accounting standards and auditing standards, keep the official text handy and learn the key paragraphs.

Before reaching this stage, you clear the CA foundation syllabus or qualify through direct entry. For the full route from start to finish, see our CA syllabus overview.

Who can register for CA intermediate

Students who pass CA Foundation can register for the intermediate course. ICAI also allows direct entry for commerce graduates and postgraduates with set minimum marks, graduates of other streams with higher minimum marks, and students who have already cleared the middle level of the company secretary or cost accountant courses. A minimum study period after registration applies before you can appear. The entry rules for CA foundation and ICAI's regulations give the full conditions, and the CA syllabus intermediate stage starts only after this.