CA Final Study Material | ICAI Latest Notes & Practice

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Start your journey to achieve success in the CA Final exams with our complete CA study material. Access and download the crucial study materials outlined in this article to amplify your preparation and stay ahead of the curve for the upcoming exams. 

Prepare for CA Final exams in May 2025 with detailed ICAI New Course Study Material on all groups and elective papers. A clear summary table helps you understand important topics effectively. It will help you develop readiness and increase your exam chances.

ICAI CA Final Study Material gives you an idea of what ICAI is demanding from you. Writing skills, presentation, questions asked, and everything else are clearly explained in the ICAI Study Material. Students can also check out the latest CA Final syllabus for the upcoming examinations.

Study Material for CA Final

CA Final New Study Material May 2024
Papers Name Link
Paper-1: Financial Reporting Click Here
Paper-2: Advanced Financial Management Click Here
Paper-3: Advanced Auditing, Assurance, and Professional Ethics Click Here
Paper-4: Direct Tax Laws and International Taxation Click Here
Paper-5: Indirect Tax Laws Click Here
Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) Click Here

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Paper-Wise CA Final Study Material 

Paper 1:  Financial Reporting

The syllabus of CA Final Paper 1: Financial Reporting (Applicable for the May 2025 Examination & onwards) deals with various Indian Accounting Standards (Ind AS), financial reporting, business combinations, and the ethical duties of Chartered Accountants. Below is a structured table for the Financial Reporting syllabus:

CA Final Syllabus 2025 For Financial Reporting
Module Chapter Topic Units
Module 1 Chapter 1 Introduction to Indian Accounting Standards –
  Chapter 2 Conceptual Framework for Financial Reporting under Ind AS –
  Chapter 3 Ind AS on Presentation of General Purpose Financial Statements Ind AS 1, Ind AS 34, Ind AS 7
  Chapter 4 Ind AS on Measurement Based on Accounting Policies Ind AS 8, Ind AS 10, Ind AS 113
Module 2 Chapter 5 Ind AS on Assets of the Financial Statements Ind AS 2, Ind AS 16, Ind AS 23, Ind AS 36, Ind AS 38, Ind AS 40, Ind AS 105, Ind AS 116
Module 3 Chapter 6 Ind AS on Liabilities of the Financial Statements Ind AS 19, Ind AS 37
  Chapter 7 Ind AS on Items Impacting Financial Statements Ind AS 12, Ind AS 21
  Chapter 8 Ind AS on Disclosures in the Financial Statements Ind AS 24, Ind AS 33, Ind AS 108
Module 4 Chapter 9 Ind AS 115 – Revenue from Contracts with Customers –
  Chapter 10 Other Indian Accounting Standards Ind AS 41, Ind AS 20, Ind AS 102
  Chapter 11 Accounting and Reporting of Financial Instruments –
Module 5 Chapter 12 Ind AS 103 – Business Combinations –
  Chapter 13 Consolidated and Separate Financial Statements of Group Entities Ind AS 110, Ind AS 111, Ind AS 28, Ind AS 27
  Chapter 14 Ind AS 101 – First-time Adoption of Ind AS –
  Chapter 15 Analysis of Financial Statements –
  Chapter 16 Professional and Ethical Duties of a Chartered Accountant –
  Chapter 17 Accounting and Technology –

Paper 2: Advanced Financial Management

The syllabus of CA Final Paper 2: Advanced Financial Management Applicable for the May 2025 Exam covers a plethora of advanced finance topics with a concentration on corporate strategy, risk management, capital budgeting, and financial valuation. Below is an organized table with the Advanced Financial Management syllabus:

CA Final Syllabus 2025 For Advanced Financial Management
Chapter No. Topic
Chapter 1 Financial Policy and Corporate Strategy
Chapter 2 Risk Management
Chapter 3 Advanced Capital Budgeting Decisions
Chapter 4 Security Analysis
Chapter 5 Security Valuation
Chapter 6 Portfolio Management
Chapter 7 Securitization
Chapter 8 Mutual Funds
Chapter 9 Derivatives Analysis and Valuation
Chapter 10 Foreign Exchange Exposure and Risk Management
Chapter 11 International Financial Management
Chapter 12 Interest Rate Risk Management
Chapter 13 Business Valuation
Chapter 14 Mergers, Acquisitions and Corporate Restructuring
Chapter 15 Startup Finance

Paper 3: Advanced Auditing, Assurance and Professional Ethics

The syllabus of CA Final Paper 3 Advanced Auditing, Assurance and Professional Ethics Applicable for May 2025 Exam is divided into three modules which include a whole gamut of auditing topics and professional ethics with specialized areas in auditing. Advanced Auditing, Assurance, and Professional Ethics Syllabus: Structured Table.

CA Final Study Material 2025 for Advanced Auditing, Assurance, and Professional Ethics
Module Chapter Topic
Module 1 Chapter 1 Quality Control
  Chapter 2 General Auditing Principles and Auditors’ Responsibilities
  Chapter 3 Audit Planning, Strategy, and Execution
  Chapter 4 Materiality, Risk Assessment, and Internal Control
  Chapter 5 Audit Evidence
  Chapter 6 Completion and Review
  Chapter 7 Reporting
Module 2 Chapter 8 Specialized Areas
  Chapter 9 Related Services
  Chapter 10 Review of Financial Information
  Chapter 11 Prospective Financial Information and Other Assurance Services
  Chapter 12 Digital Auditing & Assurance
  Chapter 13 Group Audits
  Chapter 14 Special Features of Audit of Banks & Non-Banking Financial Companies
Module 3 Chapter 15 Overview of Audit of Public Sector Undertakings
  Chapter 16 Internal Audit
  Chapter 17 Due Diligence, Investigation & Forensic Accounting
  Chapter 18 Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance
  Chapter 19

Professional Ethics & Liabilities of Auditors

Paper 4: Direct Tax Laws & International Taxation

CA Final Paper 4: Direct Tax Laws & International Taxation Applied for May-2025, and November-2025 This syllabus includes four modules along with a considerable amount of comprehensive knowledge on a wider platform of taxing issues, taxation planning, global tax issues, and ethics. Further below is provided the structured syllabus table relating to the  Direct Tax Laws & International Taxation paper:

CA Final Syllabus 2025 for Direct Tax Laws & International Taxation
Module Chapter Topic
Module 1 Chapter 1 Basic Concepts
  Chapter 2 Incomes which do not form part of Total Income
  Chapter 3 Profits and Gains of Business or Profession
  Chapter 4 Capital Gains
  Chapter 5 Income from Other Sources
  Chapter 6 Income of Other Persons included in Assessee’s Total Income
  Chapter 7 Aggregation of Income, Set Off or Carry Forward of Losses
  Chapter 8 Deductions from Gross Total Income
Module 2 Chapter 9 Assessment of Various Entities
  Chapter 10 Assessment of Trusts and Institutions, Political Parties, and Other Special Entities
  Chapter 11 Tax Planning, Tax Avoidance, and Tax Evasion
  Chapter 12 Taxation of Digital Transactions
Module 3 Chapter 13 Deduction, Collection, and Recovery of Tax
  Chapter 14 Income Tax Authorities
  Chapter 15 Assessment Procedure
  Chapter 16 Appeals and Revision
  Chapter 17 Dispute Resolution
  Chapter 18 Miscellaneous Provisions
  Chapter 19 Provisions to Counteract Unethical Tax Practices
  Chapter 20 Tax Audit and Ethical Compliances
Module 4 Chapter 21 Non-Resident Taxation
  Chapter 22 Double Taxation Relief
  Chapter 23 Advance Rulings
  Chapter 24 Transfer Pricing
  Chapter 25 Fundamentals of BEPS
  Chapter 26 Application and Interpretation of Tax Treaties
  Chapter 27 Overview of Model Tax Conventions
  Chapter 28 Latest Developments in International Taxation

Paper 5: Indirect Tax Laws

CA Final Paper 5: Indirect Tax Laws Syllabus Applicable for May 2025 and November 2025 Exams There are two divisional sections: Goods and Services Tax; and Customs & Foreign Trade Policy (FTP) Below is a structured table concerning the syllabus of Indirect Tax Laws.

CA Final Syllabus 2025 for Indirect Tax Laws
Module Chapter Topic
Part I: Goods and Services Tax (GST)
Module 1 Chapter 1 Supply under GST
  Chapter 2 Charge of GST
  Chapter 3 Place of Supply
  Chapter 4 Exemptions from GST
  Chapter 5 Time of Supply
  Chapter 6 Value of Supply
Module 2 Chapter 7 Input Tax Credit
  Chapter 8 Registration
  Chapter 9 Tax Invoice, Credit and Debit Notes
  Chapter 10 Accounts and Records; E-way Bill
  Chapter 11 Payment of Tax
  Chapter 12 Electronic Commerce Transactions
  Chapter 13 Returns
Module 3 Chapter 14 Import and Export Under GST
  Chapter 15 Refunds
  Chapter 16 Job Work
  Chapter 17 Assessment and Audit
  Chapter 18 Inspection, Search, Seizure and Arrest
  Chapter 19 Demands and Recovery
  Chapter 20 Liability to Pay in Certain Cases
  Chapter 21 Offences and Penalties and Ethical Aspects under GST
  Chapter 22 Appeals and Revision
  Chapter 23 Advance Ruling
  Chapter 24 Miscellaneous Provisions
Part II: Customs & FTP
Module 4 Chapter 1 Levy of and Exemptions from Customs Duty
  Chapter 2 Types of Duty
  Chapter 3 Classification of Imported and Export Goods
  Chapter 4 Valuation under the Customs Act, 1962
  Chapter 5 Importation and Exportation of Goods
  Chapter 6 Warehousing
  Chapter 7 Refund
  Chapter 8 Foreign Trade Policy

Paper 6:Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management)

Section A: Corporate and Economic Laws

Syllabus Modules Chapters
Module-1 Section A: Company Law
  Chapter 1: Appointment and Qualification of Directors
  Chapter 2: Appointment and Remuneration of Managerial Personnel
  Chapter 3: Meetings of Board and Its Powers
  Chapter 4: Inspection, Inquiry and Investigation
  Chapter 5: Compromises, Arrangements and Amalgamations
  Chapter 6: Prevention of Oppression and Mismanagement
  Chapter 7: Winding Up
  Chapter 8: Miscellaneous Provisions
  Chapter 9: Adjudication, Special Courts, National Company Law Tribunal & National Company Law Appellate Tribunal
  Chapter 10: e-Filing
Module-2 Section B: Securities Laws
  Chapter 1: SEBI Act, 1992, SEBI (LODR) Regulations, 2015, SEBI (ICDR) Regulations, 2018, SEBI (SAST) Regulations, 2011 and SEBI (PIT) Regulations, 2015
  Part II: Economic Laws
  Chapter 1: The Foreign Exchange Management Act, 1999
  Chapter 2: The Foreign Contribution Regulation Act, 2010
  Chapter 3: The Insolvency and Bankruptcy Code, 2016

Section B: Strategic Cost & Performance Management

Syllabus Modules Chapters

Module-1

(Strategic Cost Management)

 Chapter 1: Introduction to Strategic Cost Management
  Chapter 2: Modern Business Environment
  Chapter 3: Lean System and Innovation
  Chapter 4: Specialist Cost Management Techniques
  Chapter 5: Management of Cost Strategically for Emerging Business Models
  Chapter 6: Strategic Revenue Management
  Chapter 7: Strategic Profit Management

Module-2

(Strategic Performance Management)

 Chapter 8: An Introduction to Strategic Performance Management
  Chapter 9: Strategic Performance Measures in Private Sector
  Chapter 10: Strategic Performance Measures in the Non-Profit Organisations
  Chapter 11: Preparation of Performance Reports
  Chapter 12: Divisional Transfer Pricing
  Chapter 13: Standard Costing
  Chapter 14: Case Study

How to Use CA Final Study Material

To excel in the CA Final exams, it's essential to utilize the study material effectively. Here's a step-by-step guide to help you make the most of your CA Final study material:

  • Familiarize Yourself with the Study Material: Browse through the study material, including notes, practice manuals, and question papers to understand the structure and content.
  • Create a Study Plan: Develop a study schedule that covers all topics and subjects, allocating time for each study material.
  • Focus on Key Concepts: Identify key concepts and topics that carry significant weightage in the exams and use the study material to delve deeper.
  • Practice with Mock Tests and Question Papers: Utilize practice manuals and question papers to test your knowledge and understanding.
  • Review and Revise Regularly: Regularly review the study material to reinforce your learning and revise key concepts.
  • Stay Updated with ICAI Announcements: Regularly check the ICAI website for updates on the exam schedule, syllabus, and study material.

Conclusion

CA Final Study Material is a comprehensive resource for chartered accountancy students preparing for the CA Final exams. The study material is provided by the Institute of Chartered Accountants of India (ICAI) in the form of notes, practice manuals, and question papers covering all aspects of the CA Final syllabus. With the help of this study material, students can understand the key concepts better, practice solving problems, and develop skills and knowledge for the exams.

FAQs

How do I get CA Final study material?

To obtain CA Final study material, visit the ICAI website and download it from the "Students" section. Alternatively, you can purchase it from the ICAI bookstore or authorized vendors or collect it in person from the ICAI registered office, ensuring authenticity and relevance.

Can I pass the CA Final without coaching?

Yes, one can clear the CA Final without coaching, but with self-discipline, hard work, and a good study plan. The Institute of Chartered Accountants of India (ICAI) provides study material and resources for the exam.

What are the 8 papers in the CA Final?

These are the 6 papers of the CA Final Syllabus. They focus on these subjects as study material. Check below. 

Paper-1: Financial Reporting.

Paper-2: Strategic Financial Management.

Paper-3: Advanced Auditing and Professional Ethics.

Paper-4: Corporate and Economic Laws.

Paper-5: Strategic Cost Management and Performance Evaluation.

Paper-6A: Risk Management.

Paper-6B: Financial Services and Capital Markets.

 

What is the salary of CA per month?

In India, the monthly salary of a Chartered Accountant (CA) can vary significantly, ranging from ₹50,000 for entry-level positions to ₹10,00,000 for experienced professionals, with the specific industry and years of experience being key determining factors.

What are the elective papers for the CA Final?

Chartered Accountancy students can choose from six elective papers, including:

  • Risk Management
  • Financial Services and Capital Markets
  • International Taxation
  • Economic Laws
  • Global Financial Reporting Standards
  • Multidisciplinary Case Study

These electives offer specialized knowledge and skills in various areas of accounting and finance.

Is CA Final tough?

The CA Final exam is notoriously demanding and is widely regarded as the most challenging level of the Chartered Accountant (CA) course. As the final hurdle, it requires a high level of technical knowledge, analytical skills, and strategic thinking.

What are the passing marks for CA Final?

To pass the CA Final exam, candidates must meet a specific set of criteria. The passing requirements include securing a minimum of 40% marks in each subject, as well as achieving an aggregate of at least 50% marks in all subjects. Additionally, candidates must clear either both groups or a single group in one sitting to be declared successful.

What is the salary of a CA topper in India?

CA toppers in India can expect a salary ranging from ₹20 lakhs to ₹50 lakhs per annum or even higher in some cases. Top companies and multinational corporations often offer attractive salary packages to CA toppers, making them among the highest-paid professionals in the country.