CA Final Financial Reporting Study Plan for May 2025 Exams

If you’ve just completed your CA Foundation or are planning for CA Inter soon, the thought of the Final level may already be crossing your mind. One of the most important subjects that determine your performance in the CA Final is Financial Reporting, a paper that demands deep understanding, consistent revision, and strategic planning. 

Having a well-structured CA Final Financial Reporting Study Plan for May 2025 Exams can truly be the difference between a mere attempt and a stellar rank.

CA Final Financial Reporting

When it comes to the CA Final Group 1 subjects, Financial Reporting is the first paper and often considered the most conceptual and analytical one. This subject not only tests your technical understanding of accounting standards but also your ability to apply them in practical, real-world business scenarios. 

As you climb the ladder from CA Foundation to CA Intermediate and now toward Final, the depth and difficulty of subjects like Financial Reporting increase manifold.

It’s not about remembering formats or rules anymore, it's about interpreting and applying them precisely. Students who succeed in this subject usually do so with a disciplined and targeted CA Final Financial Reporting Study Plan. 

From conceptual clarity to structured revision, every step counts. And yes, FR is tough, but with the right mindset and a solid approach, it’s absolutely crackable.

Enroll Now for CA Final Courses

CA Final Financial Reporting Syllabus

The CA Final Financial Reporting syllabus is vast, detailed, and concept-intensive. The following are the topics included in the CA Final Syllabus for Financial Reporting:

• Introduction to Indian Accounting Standards

• Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)

• Ind AS on Presentation of General Purpose Financial Statements

• Ind AS on Measurement based on Accounting Policies

• Ind AS 115 “Revenue from Contracts with Customers”

• Annexure: Division II of Schedule III to the Companies Act, 2013

• Ind AS on Assets of the Financial Statements

• Other Indian Accounting Standards

• Ind AS on Liabilities of the Financial Statements

• Ind AS on Items impacting the Financial Statements

• Ind AS on Disclosures in the Financial Statements

• Accounting and Reporting of Financial Instrument

• Ind AS 103 “Business Combinations”

• Consolidated and Separate Financial Statements of Group Entities

• Ind AS 101 “First-time Adoption of Ind AS”

• Analysis of Financial Statements

• Professional and Ethical Duty of a Chartered Accountant

• Accounting and Technology

CA Final Financial Reporting Study Plan

Creating and following a detailed CA Final Financial Reporting Study Plan is the key to acing this paper. The plan should focus on systematic preparation, continuous revision, and time management. Below is a recommended study plan tailored for May 2025 exams:

Week 1-2: Understanding the Basics

The first two weeks should be dedicated to revisiting accounting standards. Ensure you understand the basic principles and framework, as they form the foundation for more complex topics. Allocate at least four hours daily to study the standards and solve practical problems.

Week 3-4: In-Depth Analysis of Syllabus Topics

In these weeks, focus on consolidated financial statements and corporate financial reporting. Use case studies and past examination papers to understand how these topics are tested in exams. Spend additional time on IFRS, as it is an area many students find challenging.

Week 5-6: Practical Applications and Practice

Once the basics are clear, devote time to applying the concepts to practical scenarios. Practice questions from study material, revision test papers, and mock exams. Pay special attention to integrated reporting and CSR reporting, as these topics require conceptual clarity and critical analysis.

Week 7: Revision and Mock Tests

Use this week to revise all the topics thoroughly. Take at least two full-length mock tests to simulate exam conditions. Analyze your performance, identify weak areas, and revise them.

Week 8: Final Review and Exam Strategies

In the last week, focus on revising key topics and formulas. Prepare summary notes for quick reference. Develop a time management strategy for the exam to ensure you can complete the paper efficiently.