CA Final Subjects May 2026, Subjects-wise Breakdown

Get all the details about the CA Final subjects for the May 2026 session, including the paper-wise details, pattern, and important topics. For more details, read this article.

The ICAI has introduced a new CA Final subjects & syllabus, effective for the May 2026 exams. To ensure seamless preparation, students are strongly advised to refer solely to the updated ICAI CA Final Subjects May 2026, available on the official ICAI website. For a detailed overview of the new syllabus and subjects, students can access the Board of Studies (BoS) knowledge portal on the ICAI website. 

The ICAI has announced the introduction of the CA Final new syllabus, effective for the May 2026 exams and beyond. The CA Final syllabus has been divided into 6 subjects, including Financial Reporting, Advanced Financial Management, Advanced Auditing, Assurance, and Professional Ethics, Direct Tax and International Taxation, Indirect Tax Laws, and Integrated Business Solutions. This streamlined approach divides the subjects into two groups, with 3 subjects in each group, aiming to enhance focus, efficiency, and overall learning outcomes.

CA Final Subjects and Syllabus for May 2026

CA Final Group 1 (New Syllabus & Subjects)

  • Paper-1: Financial Reporting
  • Paper-2: Advanced Financial Management
  • Paper-3: Advanced Auditing, Assurance, and Professional Ethics

CA Final Group 2 (New Syllabus & Subjects)

  • Paper-4: Direct Tax Laws & International Taxation
  • Paper-5: Indirect Tax Laws
  • Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management)
  • Section A: Corporate and Economic Laws
  • Section B: Strategic Cost & Performance Management

Now, let’s check the new ICAI CA Final Subjects-wise detailed information. 

Enroll Now for CA Final Courses

Paper 1: Financial Reporting (100 Marks)

Syllabus Modules Chapters
Module-1 Chapter 1: Introduction to Indian Accounting Standards
  Chapter 2: Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)
  Chapter 3: Ind AS on Presentation of Items in the Financial Statements
  • Unit 1: Ind AS 1 “Presentation of Financial Statements”
  • Unit 2: Ind AS 34, “Interim Financial Reporting”
  • Unit 3: Ind AS 7 “Statement of Cash Flows”
  Chapter 4: Ind AS on Measurement based on Accounting Policies
  • Unit 1: Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”
  • Unit 2: Ind AS 10 “Events after the Reporting Period”
  • Unit 3: Ind AS 113 “Fair Value Measurement”
  Chapter 5: Ind AS 115, “Revenue from Contracts with Customers”
Module-2 Chapter 6: Ind AS on Assets of the Financial Statements
  • Unit 1: Ind AS 2 “Inventories”
  • Unit 2: Ind AS 16 “Property, Plant and Equipment”
  • Unit 3: Ind AS 23 “Borrowing Costs”
  • Unit 4: Ind AS 36 “Impairment of Assets”
  • Unit 5: Ind AS 38 “Intangible Assets”
  • Unit 6: Ind AS 40 “Investment Property”
  • Unit 7: Ind AS 105, “Non-current Assets Held for Sale and Discontinued Operations”
  • Unit 8: Ind AS 116 “Leases”
  Chapter 7: Other Indian Accounting Standards
  • Unit 1: Ind AS 41 “Agriculture”
  • Unit 2: Ind AS 20 “Accounting for Government Grants and Disclosure of Government Assistance”
  • Unit 3: Ind AS 102, "Share-Based Payment”
Module-3 Chapter 8: Ind AS on Liabilities of the Financial Statements
  • Unit 1: Ind AS 19 “Employee Benefits”
  • Unit 2: Ind AS 37, “Provisions, Contingent Liabilities and Contingent Assets”
  Chapter 9: Ind AS on Items Impacting the Financial Statements
  • Unit 1: Ind AS 12 “Income Taxes”
  • Unit 2: Ind AS 21 “The Effects of Changes in Foreign Exchange Rates”
  Chapter 10: Ind AS on Disclosures in the Financial Statements
  • Unit 1: Ind AS 24 “Related Party Disclosures”
  • Unit 2: Ind AS 33 “Earnings per Share”
  • Unit 3: Ind AS 108 “Operating Segments”
  Chapter 11: Accounting and Reporting of Financial Instruments
  • Unit 1: Financial Instruments: Scope and Definitions
  • Unit 2: Classification and Measurement of Financial Assets and Financial Liabilities
  • Unit 3: Financial Instruments: Equity and Financial Liabilities
  • Unit 4: Derivatives and Embedded Derivatives
  • Unit 5: Recognition and Derecognition of Financial Instruments
  • Unit 6: Hedge Accounting
  • Unit 7: Disclosures
Module-4 Chapter 12: Ind AS 103 “Business Combinations”
  Chapter 13: Consolidated and Separate Financial Statements of Group Entities
  Chapter 14: Ind AS 101, “First-time Adoption of Indian Accounting Standards”
  Chapter 15: Analysis of Financial Statements
  Chapter 16: Professional and Ethical Duty of a Chartered Accountant
  Chapter 17: Accounting and Technology

Paper 2: Advanced Financial Management (100 Marks)

Syllabus Modules Chapters
Module-1 Chapter 1: Financial Policy and Corporate Strategy
  Chapter 2: Risk Management
  Chapter 3: Advanced Capital Budgeting Decisions
  Chapter 4: Security Analysis
  Chapter 5: Security Value
  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 (100 Marks)

Syllabus Modules Chapters
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: Specialised Areas
  Chapter 9: Audit-related Services
  Chapter 10: Review of Financial Information
  Chapter 11: Prospective Financial Information and Other Assurance Services
  Chapter 12: Digital Auditing and Assurance
  Chapter 13: Group Audits
  Chapter 14: Special Features of Audit of Banks and 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 Audit
  Chapter 18: Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance
  Chapter 19: Professional Ethics & Liabilities of Auditors

Paper 4: Direct Tax Law and International Taxation (100 Marks)

Syllabus Modules Chapters
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 Law

Syllabus Modules Chapters
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 Under GST
  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: Demand and Recovery
  Chapter 20: Liability to Pay in Certain Cases
  Chapter 21: Offences and Penalties and Ethical Aspects under GST
  Chapter 22: Appeals and Revisions
  Chapter 23: Advance Ruling
  Chapter 24: Miscellaneous Provisions
Module-4 Chapter 1: Levy of Exemptions from Customs Duty
  Chapter 2: Types of Duty
  Chapter 3: Classification of Imported & Exported Goods
  Chapter 4: Valuation Under the Customs Act, 1962
  Chapter 5: Importation and Exportation of Goods
  Chapter 6: Warehouse
  Chapter 7: Refund
  Chapter 8: Foreign Trade Policy

Paper 6: Integrated Business Solutions (Multi-Disciplinary Case Study With Strategic Management) 

Section A: Corporate and Economic Law

Syllabus Modules Chapters
Module-1 Section A: Company Law
  Chapter 1: Appointment and Qualification of Directors
  Chapter 2: Appointment and Remuneration of Management 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-for-Profit Organisations
  Chapter 11: Preparation of Performance Reports
  Chapter 12: Divisional Transfer Pricing
  Chapter 13: Standard Costing
  Chapter 14: Case Study

CA Final Exam Pattern for May 2026

To create an effective study plan, students need to educate themselves with the CA Final exam pattern, in addition to the syllabus and subjects. The exam pattern provides valuable insights into the exam structure, duration, and marking scheme, enabling students to allocate their study time efficiently. Refer to the table below to understand the CA Final exam pattern for May 2026 exams and plan your study timetable accordingly.

CA Final Details
Mode of exam Pen-paper-based exam
Medium of exam Hindi and English
Duration of exam 3 hours for each paper
Total number of groups 2
Types of questions Subjective and Objective
Exam conducting body ICAI
Total number of papers 6 as per both the old and new syllabus
Frequency 2 times (May and November)
Marking scheme 100 marks for each paper
Negative marking No negative marking for wrong answers

Why Choose CA Exam Test Series for CA Preparation 

When it comes to preparing for the hard CA exams, choosing the right test series can make all the difference. caexams.in has emerged as a trusted and result-oriented platform for CA Foundation, Intermediate, and Final aspirants. Here's why it should be your first choice:

  • Trusted by Thousands of CA Aspirants: CA Exams has built a strong reputation among CA students for its consistent quality and excellent student feedback.
  • ICAI Pattern-Based Question Papers: All tests are strictly based on the latest ICAI exam pattern and syllabus, ensuring real exam-like practice.
  • Timely Evaluation with Expert Feedback: Get your answers evaluated within 48–72 hours along with detailed feedback, a marking scheme, and improvement tips.
  • Personalized Mentorship & Study Planner: Get personalized mentorship, performance tracking, and a daily study plan customized to your syllabus completion pace.

FAQs

What are the CA Final subjects for the May 2026 examination?

For the May 2026 attempt, the CA Final consists of six subjects divided into two groups. Group I includes Financial Reporting, Advanced Financial Management, and Advanced Auditing, while Group II covers Direct Tax, Indirect Tax, and Integrated Business Solutions.

How many papers are there in the CA Final May 2026?

CA Final May 2026 includes six theory papers, each carrying 100 marks. Students can appear for one group or both groups in the same attempt, depending on their preparation strategy and confidence level.

Has ICAI changed the CA Final subjects for May 2026?

As per ICAI notifications available online, no major change in CA Final subjects has been announced for the May 2026 attempt. The syllabus continues under the New Scheme of Education and Training.

What subjects are included in CA Final Group I May 2026?

CA Final Group I for May 2026 includes Financial Reporting (FR), Advanced Financial Management (AFM), and Advanced Auditing and Professional Ethics, focusing on conceptual clarity, analytical skills, and practical application.

Which subjects are covered in CA Final Group II May 2026?

Group II subjects for CA Final May 2026 are Direct Tax Laws & International Taxation, Indirect Tax Laws, and Integrated Business Solutions (IBS), emphasizing case-based questions and real-world business scenarios.

Is Integrated Business Solutions compulsory in CA Final May 2026?

Yes, Integrated Business Solutions (IBS) is a compulsory subject in CA Final May 2026. It tests strategic thinking, multidisciplinary knowledge, and the ability to apply concepts from multiple subjects in practical situations.

Which CA Final subject is considered the toughest in May 2026?

Difficulty varies by student, but many candidates find Financial Reporting and Direct Tax challenging due to complex standards, amendments, and practical problem-solving requirements in the May 2026 examination.

Are practical case-study questions asked in CA Final subjects?

Yes, ICAI emphasizes case-study and application-based questions in CA Final May 2026, especially in subjects like IBS, Audit, and Taxation, testing analytical ability rather than rote learning.

Do CA Final subjects include the latest amendments for May 2026?

Yes, CA Final subjects for May 2026 include amendments applicable up to 31 October 2025, as per ICAI guidelines. Students must rely on updated study material, RTPs, and official ICAI announcements.

Can students prepare CA Final subjects group-wise for May 2026?

Absolutely, the ICAI allows students to appear group-wise or both groups together in May 2026. Many candidates prefer single-group preparation to manage syllabus depth and improve pass probability.