The ICAI syllabus is designed to provide a comprehensive education in accounting and finance. It is divided into three levels: Foundation Course, Intermediate Course, and Final Course. The Foundation Course covers the basics of accounting, business laws, mathematics, economics, and commercial knowledge.
Syllabus For Foundation Course
| Subject | Topics Covered |
|---|---|
| Principles and Practice of Accounting | Theoretical Framework, Accounting Process, Bank Reconciliation Statement, Inventories, Depreciation accounting, Preparation of Final Accounts for Sole Proprietors, Accounting for Special Transactions, Partnership Accounts, Introduction to Company Accounts |
| Business Law and Business Correspondence and Reporting | Business Laws, Business Correspondence, Communication, Sentence Types and Word Power, Precis Writing, Comprehension Passages, Note Making |
| Business Mathematics and Logical Reasoning & Statistics | Ratio and Proportion, Indices and Logarithms, Equations and Matrices, Linear Inequalities with Objective Functions and Optimization, Time Value of Money, Permutations and Combinations, Sequence and Series, Sets, Relations and Functions, Basic applications of Differential and Integral calculus, Correlation and Regression |
| Business Economics and Business and Commercial Knowledge | Introduction to Business Economics, Theory of Demand and Supply, Theory of Production and Cost, Price Determination in Different Markets, Business Cycles, Introduction to Business and Commercial Knowledge, Business Environment, Business Organizations, Government Policies for Business Growth |
Important Topics & Weightage Foundation Course
| Subject | Important Topics | Weightage |
|---|---|---|
| Principles and Practice of Accounting | Accounting Process, Preparation of Final Accounts, Partnership Accounts, Depreciation accounting | 60 marks |
| Business Law and Business Correspondence and Reporting | Business Laws, Communication, Comprehension Passages | 40 marks |
| Business Mathematics and Logical Reasoning & Statistics | Ratio and Proportion, Indices and Logarithms, Time Value of Money, Sets, Relations and Functions | 40 marks |
| Business Economics and Business and Commercial Knowledge | Business Environment, Business Organizations, Government Policies for Business Growth | 60 m |
ICAI Syllabus For Intermediate Course
| Group | Subject | Topics Covered |
|---|---|---|
| Group 1 | Accounting | Framework for Preparation and Presentation of Financial Statements, Accounting Standards, Company Accounts, Accounting for Special Transactions, Partnership Accounts, Accounting in Computerised Environment |
| Group 1 | Corporate Laws and Other Laws | Company Law, Other Laws, Securities Laws |
| Group 1 | Cost and Management Accounting | Overview of Cost and Management Accounting, Cost Accounting Records, Cost Systems, Methods of Costing, Cost Control and Analysis, Standard Costing and Variance Analysis, Budgeting and Budgetary Control |
| Group 1 | Taxation | Direct and Indirect Taxes, Goods and Services Tax (GST), Income Tax |
| Group 2 | Advanced Accounting | Accounting Standards, Company Accounts, Reorganisation of Companies, Financial Reporting of Banking, Financial Services and Insurance (BFSI) |
| Group 2 | Auditing and Assurance | Nature, Objective and Scope of Audit, Audit Strategy, Planning and Programming, Audit Process, Evaluation of Audit Evidence, Audit Reports, Audit of Banks, Insurance Companies and Non-Banking Financial Companies (NBFCs) |
| Group 2 | Enterprise Information Systems and Strategic Management | Role of Information Technology in Business, Automated Business Processes, Financial and Accounting Systems, Information Systems and Controls, E-commerce, Business Strategy, Strategic Analysis, Strategic Planning and Control |
The ICAI Intermediate Course syllabus aims to provide students with a comprehensive understanding of accounting, taxation, and other relevant subjects. It is important for students to thoroughly understand the concepts and principles covered in each subject to successfully clear the Intermediate Course examination.
Important Topics & Weightage Intermediate Course
| Group | Subject | Important Topics | Weightage |
|---|---|---|---|
| Group 1 | Accounting | Accounting Standards, Company Accounts, Accounting for Special Transactions, Partnership Accounts | 80 marks |
| Group 1 | Corporate Laws and Other Laws | Company Law, Securities Laws, Contract Act, Negotiable Instruments Act | 80 marks |
| Group 1 | Cost and Management Accounting | Methods of Costing, Cost Control and Analysis, Standard Costing and Variance Analysis | 80 marks |
| Group 1 | Taxation | Income Tax, Goods and Services Tax (GST) | 80 marks |
| Group 2 | Advanced Accounting | Accounting Standards, Company Accounts, Financial Reporting of Banking, Financial Services and Insurance (BFSI) | 100 marks |
| Group 2 | Auditing and Assurance | Nature, Objective and Scope of Audit, Audit Process, Audit Reports, Audit of Banks and Insurance Companies | 100 marks |
| Group 2 | Enterprise Information Systems and Strategic Management | Role of Information Technology in Business, Financial and Accounting Systems, Information Systems and Controls, Business Strategy | 100 marks |
Note: The weightage given above is tentative and subject to change based on the examination pattern and syllabus updates. It is recommended to refer to the official ICAI website for the latest information on the weightage and important topics for each subject.
ICAI Syllabus For Final Course
| Group | Subject | Topics Covered |
|---|---|---|
| Group 1 | Financial Reporting | Indian Accounting Standards (Ind AS), Indian Financial Reporting Standards (IFRS), Corporate Financial Reporting, Accounting for Corporate Restructuring, Consolidated Financial Statements, Accounting for Financial Instruments, Share-based Payments, Corporate Social Responsibility |
| Group 1 | Strategic Financial Management | Financial Policy and Corporate Strategy, Project Planning and Capital Budgeting, Financing Decisions, Dividend Decisions, Security Analysis, Portfolio Management, Financial Services, Mutual Funds, Merchant Banking, Risk Management |
| Group 1 | Advanced Auditing and Professional Ethics | Auditing Standards, Audit Planning, Audit Procedures, Audit Reports, Audit of Banks, Insurance Companies and Non-Banking Financial Companies (NBFCs), Internal Audit, Due Diligence, Forensic Accounting, Code of Ethics, Professional Ethics |
| Group 1 | Corporate and Economic Laws | Company Law, Securities Laws, Foreign Exchange Laws, Corporate Restructuring, Economic Laws, Competition Law, Insolvency and Bankruptcy Laws, Intellectual Property Laws, Labour Laws, Environmental Laws, Cyber Laws, Law relating to Trusts and Societies |
| Group 2 | Strategic Cost Management and Performance Evaluation | Cost Management Techniques, Strategic Cost Management, Decision Making, Budgeting, Standard Costing, Transfer Pricing, Cost Reduction, Cost Control, Performance Measurement and Evaluation, Divisional Performance, Strategic Analysis and Balanced Scorecard |
| Group 2 | Direct Tax Laws and International Taxation | Provisions of Direct Tax Laws, International Taxation, Tax Planning, Tax Management, Drafting of Deeds and Documents, Assessment Procedures, Settlement Commission, Advance Rulings, Equalisation Levy, Advance Tax Rulings, Taxation of E-commerce Transactions |
| Group 2 | Indirect Tax Laws | GST, Customs Laws, Foreign Trade Policy, Central Excise, Service Tax, CENVAT Credit, Value Added Tax (VAT), Central Sales Tax (CST), Customs Duty, Foreign Exchange Management Act (FEMA), Black Money Act, Benami Transactions Prohibition Act (BTPA) |
The ICAI Final Course syllabus aims to provide students with an in-depth understanding of various advanced concepts related to accounting, auditing, finance, taxation, and corporate laws. Students are required to develop a deep knowledge and expertise in these subjects to successfully clear the Final Course examination.
Important Topics & Weightage Final Course
| Group | Subject | Important Topics | Weightage |
|---|---|---|---|
| Group 1 | Financial Reporting | Ind AS, IFRS, Accounting for Corporate Restructuring, Consolidated Financial Statements, Share-based Payments | 100 marks |
| Group 1 | Strategic Financial Management | Financial Policy and Corporate Strategy, Project Planning and Capital Budgeting, Financing Decisions, Security Analysis | 100 marks |
| Group 1 | Advanced Auditing and Professional Ethics | Audit Standards, Audit Planning, Audit Reports, Audit of Banks, Insurance Companies and NBFCs, Internal Audit, Forensic Accounting | 100 marks |
| Group 1 | Corporate and Economic Laws | Company Law, Securities Laws, Competition Law, Insolvency and Bankruptcy Laws, Intellectual Property Laws | 100 marks |
| Group 2 | Strategic Cost Management and Performance Evaluation | Cost Management Techniques, Strategic Cost Management, Decision Making, Budgeting, Performance Measurement and Evaluation | 100 marks |
| Group 2 | Direct Tax Laws and International Taxation | Provisions of Direct Tax Laws, International Taxation, Tax Planning, Drafting of Deeds and Documents, Assessment Procedures | 100 marks |
| Group 2 | Indirect Tax Laws | GST, Customs Laws, Foreign Trade Policy, Central Excise, Service Tax, VAT, CST, Customs Duty | 100 marks |
Note: The weightage given above is tentative and subject to change based on the icai syllabus updates. It is recommended to refer to the official ICAI website for the latest information on the weightage and important topics for each subject.
ICAI Exam Pattern
The exam pattern of ICAI varies depending on the level of the course. Here’s a brief overview of the exam pattern for each level:
- Foundation Course: The Foundation Course examination consists of four papers. Each paper is for 100 marks and is of three hours duration. The question paper consists of objective type questions and short answer questions.
- Intermediate Course: The Intermediate Course examination consists of two groups. Each group consists of four papers. Each paper is for 100 marks and is of three hours duration. The question paper consists of a mix of objective and subjective type questions.
- Final Course: The Final Course examination also consists of two groups. Each group consists of four papers. Each paper is for 100 marks and is of three hours duration. The question paper consists of a mix of objective and subjective type questions.
For all the levels, the passing marks for each paper is 40% and the aggregate passing percentage is 50%. In addition, there is negative marking for objective type questions in the Intermediate and Final Course examinations.
Overall, the ICAI exam pattern is designed to test the knowledge, understanding and application of various concepts related to accounting, auditing, finance, taxation, and corporate laws. Students are required to prepare well and have a deep understanding of the icai syllabus to successfully clear the examinations.
