Will there be any change in the CA syllabus of CA new scheme?

Any candidate looking to become a chartered accountant should note that the ICAI has recently unveiled the CA New Scheme of Education and Training for CAs, which went into effect July 1, 2023, and its first exam will take May 2024 under the new CA Syllabus.

The Institute of Chartered Accountants of India (ICAI) unveiled their CA New Scheme 2024, announced in the Indian Gazette on June 22 and will take effect July 1, 2023. Key changes will include modifications to the CA course curriculum and practical training duration.

In the CA new syllabus 2024, some papers from all three levels have been combined, while some were deleted entirely. Additionally, this scheme reduces CA articleship from three years to two. In this post, we will discuss the CA New Scheme 202. Let’s check.

Latest Updates on ICAI New Scheme & CA Syllabus Changes

With the 2024 update to the CA syllabus, several papers across all three levels were combined and some eliminated, shortening CA articleship duration from three years to two.

The CA course has undergone various modifications. So this is about eligibility criteria, registration validity, syllabus content and paper pattern changes; passing criteria; exemption provisions and training leave/termination provisions.

Here we mention some basic details on the ICAI’s CA new syllabus 2024:

CA Course LevelChanges Made
CA Foundation4 Subjects from 6 Subjects
CA Intermediate6 Papers (3 in each Group)
CA ArticleshipDuration reduced from 3 to 2 years
CA Final6 Papers (3 in each Group)

ICAI CA New Scheme of Education and Training 2024

Before we move into details about the CA syllabus, we will check some details with regard to the duration of CA course completion:

CA Course LevelPresentNew Changes
CA Foundation Registration/ Appear 10 + 2StartStart
CA Foundation Study Period4 Months4 Months
CA Intermediate Study Period8 Months8 Months
CA Articleship36 Months24 Months
CA Final Study Period6 Months
Total CA Course Duration48 Months42 Months
Work Experience for CoP12 Months

So under the CA new scheme applicable from May 2024, students will take 42 months to become chartered accountants.

CA Foundation Syllabus & Changes As Per New CA Syllabus

There are no specific criteria regarding how many attempts one may give to take the CA Foundation exam. Hence students can attempt as many times as they like and their registration validity can also be extended multiple times.

However, under the proposed education and training scheme, students can register with the CA Foundation only after grade 10th. Also, its validity period is four years, so they cannot renew it again.

Now, registration for CA Foundation exams won’t have the same deadlines of January and July; thus enabling ICAI to host three exams every year.

The current CA Foundation syllabus comprises 6 subjects and four papers. However, in its new scheme, however, ICAI has eliminated two subjects – Business Correspondence & Reporting and Business & Commercial Knowledge – altogether.

The new foundation syllabus is as follows with each subject carrying 100 marks:

  • Accounting (100 Marks)
  • Business Laws (100 Marks)
  • Quantitative Aptitude (100 Marks)
    • Business Mathematics
    • Logical Reasoning
    • Statistics
  • Business Economics (100 Marks)

Now, let’s mention the passing criteria for the CA Foundation exam. So according to this new scheme, students need 50% marks or above in their exams to pass. There will also be a negative marking of 0.25 for every incorrect MCQ response. It is advisable to join the best CA coaching classes and start your exam preparation as early as possible.

CA Intermediate Course Under New Scheme 

When discussing about the new CA syllabus, let’s take a look at the CA Intermediate syllabus as per the new scheme. Now there will only be six papers for CA Intermediate courses instead of 8. Changes proposed by ICAI for the CA Inter syllabus include the following:

ProposedCurrent
 1: Advanced Accounting 1: Accounting5: Advance Accounting
2: Corporate Laws2: Corporate and Other Laws
3: Cost and Management Accounting3: Cost and Management Accounting
4: Taxation4: Taxation
5: Auditing and Code of Ethics6: Auditing and Assurance
6A: Financial Management (50 Marks)6B: Strategic Management (50 Marks)7: Enterprise Information System & Strategic Management8: Financial Management & Economics for Finance

There will be two groups with each of the three subjects.

Eligibility criteria for CA Intermediate remain unchanged. However, direct entry route students who want to sit the exams must undergo an 8-month study period before appearing for examinations. Furthermore, registration validity has increased from 4 years to 5. Moreover, the CA Inter students can revalidate their registration only once by giving the prescribed fees.

Passing criteria for CA Intermediate exams have also changed, as there will now be 30% multiple choice questions (MCQs) across each paper. Also, there will be a negative marking of 0.25 for incorrect answers.

CA Final Course under New Scheme

Students looking to register for CA Final courses must pass both groups of CA Intermediate exams as well as complete the training of ICITSS.

However, to take part in the CA Final exams successfully, students need:

  • Complete the Advanced ICITISS Course 
  • Finish a six-month study period following practical training 
  • Pass all four self-paced modules successfully 

The CA Final registration is valid for 10 years and candidates can validate it by paying the prescribed fee.

Under its new CA scheme 2023, ICAI has reduced from 8 to 6 the CA Final papers; now divided into 2 groups, each consisting of 3 papers. The CA final new syllabus is as follows:

ProposedCurrent
Paper – 1: Financial ReportingPaper – 1: Financial Reporting
Paper – 2: Advanced Financial ManagementPaper – 2: Strategic Financial Management
Paper – 3: Advanced Auditing & Professional EthicsPaper – 3: Advanced Auditing and Professional Ethics
Under Self-Paced Online Mandatory ModulePaper – 4: Corporate and Economics Laws
Under Self-Paced Online Mandatory ModulePaper – 5: Strategic Cost Management and Performance Evaluation
Paper – 4: Direct Tax Laws and International TaxationPaper – 7: Direct Tax Laws and International Taxation
Paper – 5: Indirect Tax LawsPaper – 8: Indirect Tax Laws

Conclusion

So here, we mentioned the possible changes to the CA syllabus as per the CA’s new scheme. It is advised to CA aspirants that they must visit the official website to find correct details about the syllabus, eligibility and passing criteria, subjects, marking scheme, etc.

Students must prepare as per the syllabus prescribed and can level up their preparation by joining the best CA coaching in India – VSI Jaipur.

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