CA Final Syllabus Breakdown Paper 1, Advanced Auditing, Financial Reporting, AFM

CA Final Syllabus Breakdown: ICAI designs the comprehensive syllabus for all six papers of the CA Final level. This final stage of the Chartered Accountancy course is divided into two groups, each comprising three papers. Group 1 includes some of the most critical and challenging subjects, such as Financial Reporting, Advanced Auditing, and Advanced Financial Management.

For CA Final aspirants, having a clear and detailed understanding of the topics covered in each of these papers is essential. This breakdown helps candidates understand the topics they must master to perform well in the exam. Additionally, it enables aspirants to create an effective and strategic study plan, helping them allocate their time and efforts wisely as they prepare for the CA Final.

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CA Final Syllabus Breakdown Overview

The CA Final examination is meticulously designed to evaluate candidates' knowledge and skills across diverse areas of accounting and finance. The examination structure ensures a comprehensive assessment of theoretical knowledge, practical application, and professional judgment required in the field of CA. Group 1, consisting of three fundamental papers, forms the core foundation of advanced accounting and auditing knowledge essential for every CA professional.

The table below presents the key highlights of the CA final syllabus breakdown for Group 1:

CA Final Syllabus Breakdown of Financial Reporting 

Financial reporting forms the basis of accounting for CA aspirants. This paper focuses on topics like Indian Accounting Standards (Ind AS) and their practical application. This paper emphasises the preparation, presentation, and analysis of financial statements in accordance with current regulatory frameworks. The comprehensive coverage of Financial Reporting topics helps candidates develop expertise in complex accounting treatments and financial statement preparation.

The topics in this paper are subdivided into the following five modules.

Financial Reporting Module 1 Syllabus

This foundational module covers the core principles and framework for Indian Accounting Standards. Here are the major topics included in Module 1 of Financial Reporting.

Financial Reporting Module 2 Syllabus

This module comprehensively covers the recognition, measurement, and reporting of various types of assets in financial statements. This includes both tangible and intangible assets. Unit-wise breakdown of the module 2 syllabus is presented below:

Financial Reporting Module 3 Syllabus

This module focuses on the recognition and measurement of liabilities, complex accounting treatments for items that impact financial statements, and essential disclosure requirements for transparent financial reporting. Here is the detailed breakdown of the module 3 syllabus:

Financial Reporting Module 4 Syllabus

This module covers essential areas of revenue recognition under the new standards framework. Through this module, students have to understand complex financial instruments accounting, including derivatives and hedge accounting principles.

Here are the key chapters included in module 4 of Financial Reporting syllabus:

Financial Reporting Module 5 Syllabus

This advanced module covers business combinations, group accounting principles, and contemporary topics in accounting, including technology integration and professional responsibilities. This module aims to prepare candidates for complex corporate reporting scenarios.

Here are the topics included in module 5 of the CA Final Financial Reporting paper:

CA Final Syllabus Breakdown of Advanced Financial Management

Paper 2 of CA Final, Advanced Financial Management. focuses on strategic financial decision-making, risk management, and contemporary financial market instruments. This paper is crucial for developing expertise in complex financial analysis, investment decisions, and modern financial management techniques. All these aspects are essential for senior financial professionals. The curriculum covers both theoretical frameworks and practical applications in corporate finance and investment management.

Here is the detailed breakdown of the topics covered in the CA Final AFM syllabus:

CA Final Syllabus Breakdown of Advanced Auditing and Assurance

Advanced Auditing and Assurance is paper 3 of CA Final level. This paper comprises topics such as auditing standards, specialised audit areas, and professional ethics. With comprehensive coverage of Paper 3 topics candidates can develop expertise in audit planning, execution, and reporting. The syllabus of Paper 3 is decided into three modules.

Advanced Auditing Module 1 Syllabus

This module establishes the core auditing framework, covering quality control systems, professional responsibilities, and the systematic approach to audit planning, risk assessment, and evidence gathering. Here is the detailed breakdown of topics covered in CA Final Advanced Auditing module 1:

Advanced Auditing Module 2 Syllabus

This module includes concepts for specialised auditing domains, covering industry-specific requirements, emerging digital audit techniques, and complex audit scenarios. Presented below are the key chapters and topics of CA Final Advanced Auditing module 2:

Advanced Auditing Module 3 Syllabus

The last module of Advanced Auditing covers topics that strengthen candidates’ contemporary audit knowledge, including public sector auditing, internal audit functions, forensic accounting, and sustainability assurance. Additionally, candidates learn the critical area of professional ethics that governs auditor conduct and responsibilities in modern practice.

Detailed breakdown of the module 3 syllabus of Advanced Auditing is as follows: