ICAI Intermediate Examination syllabus

List of subjects in CA Intermediate Examination syllabus

For details Syllabus clock on this

Group I

Paper 1: Accounting

This paper aims to deepen knowledge of accounting principles and standards. Key topics include:

1. Accounting Standards (AS 1, 2, 3, 10, 11, 12, 13, 16, 17, 22, 24, 26, 29)

2. Framework for Preparation and Presentation of Financial Statements

3. Applications of Accounting Standards

4. Company Accounts (Preparation of Financial Statements)

5. Accounting for Special Transactions:

   • Profit or Loss prior to Incorporation

   • Partnership Accounts (Admission, Retirement, Death of a Partner, etc.)

   • Branch Accounts (Including Foreign Branches)

6. Accounting for Employee Stock Options and Buyback of Securities

7. Preparation of Financial Statements for Not-for-Profit Organizations

Paper 2: Corporate and Other Laws

This paper is divided into two sections: Corporate Laws and Other Laws.

Section A: Company Law

1. The Companies Act, 2013 (Sections 1 to 148), including:

   • Preliminary

   • Incorporation of Company and Matters Incidental thereto

   • Prospectus and Allotment of Securities

   • Share Capital and Debentures

   • Acceptance of Deposits

   • Registration of Charges

   • Management and Administration

   • Declaration and Payment of Dividend

   • Accounts of Companies

   • Audit and Auditors

Section B: Other Laws

1. The Contract Act, 1872

2. The Negotiable Instruments Act, 1881

3. The General Clauses Act, 1897

4. The Interpretation of Statutes

Paper 3: Cost and Management Accounting

This paper focuses on understanding cost concepts, classifications, and decision-making techniques in management accounting.

1. Introduction to Cost and Management Accounting

2. Material, Labour, and Overheads

3. Cost Accounting Systems

4. Unit and Batch Costing, Job Costing, Contract Costing, Process & Operation Costing

5. Joint Products & By-products, Service Costing

6. Standard Costing

7. Marginal Costing

8. Budget and Budgetary Control

Paper 4: Taxation

This paper has two sections: Income Tax Law and Indirect Taxes.

Section A: Income Tax Law

1. Basic Concepts of Income Tax

2. Residential Status and Scope of Total Income

3. Income from Salaries, House Property, Profits and Gains of Business or Profession

4. Capital Gains, Income from Other Sources

5. Clubbing and Set-Off of Losses

6. Deductions from Gross Total Income

7. Computation of Total Income and Tax Liability of Individuals

Section B: Indirect Taxes

1. Goods and Services Tax (GST)

   • Basic Concepts

   • Supply under GST

   • Charge of GST, Exemptions, Reverse Charge Mechanism

   • Input Tax Credit

   • Registration under GST

   • Tax Invoice, Credit and Debit Notes

2. Customs Act, 1962 (Basics)

Group II

Paper 5: Advanced Accounting

This paper covers specialized areas of accounting, including advanced accounting standards and applications.

1. Accounting Standards (AS 4, 5, 7, 9, 14, 18, 19, 20, 24, 26, 29)

2. Financial Statements of Banking and Insurance Companies

3. Accounting for Electricity Companies

4. Accounts from Incomplete Records

5. Partnership Accounts (Advanced Level, Dissolution)

6. Corporate Restructuring (Amalgamation, Absorption, and Internal Reconstruction)

Paper 6: Auditing and Assurance

This paper focuses on auditing standards, procedures, and techniques.

1. Basics of Auditing

2. Audit Planning, Documentation, and Evidence

3. Risk Assessment and Internal Control

4. Fraud and Responsibilities of the Auditor

5. Audit in an Automated Environment

6. Audit of Various Entities (including companies, partnerships, LLPs, and Not-for-Profit Organizations)

7. Company Audit (As per Companies Act, 2013)

8. Standards on Auditing (SA 200, 210, 220, 230, 240, 300, 315, 320, 330, 500, 505, 510, 520, 530, 540, 550, 560, 570, 580)

Paper 7: Enterprise Information Systems & Strategic Management

This paper combines technology applications in business and strategic management.

Section A: Enterprise Information Systems

1. Automated Business Processes

2. Financial and Accounting Systems

3. Information Systems and IT Fundamentals

4. E-commerce, M-commerce, and Emerging Technologies

5. Core Banking Systems

Section B: Strategic Management

1. Introduction to Strategic Management

2. Dynamics of Competitive Strategy

3. Strategic Management Process

4. Corporate-Level Strategies

5. Business-Level Strategies

6. Functional-Level Strategies

7. Organization and Strategic Leadership

8. Strategy Implementation and Control

Paper 8: Financial Management & Economics for Finance

This paper has two sections: Financial Management and Economics for Finance.

Section A: Financial Management

1. Financial Management and Financial Analysis

2. Capital Budgeting

3. Cost of Capital, Capital Structure, and Leverage

4. Working Capital Management

5. Dividend Decisions

Section B: Economics for Finance

1. Determination of National Income

2. Public Finance

3. Money Market and Banking System

4. International Trade

5. Balance of Payments

Examination Pattern

• Each paper is 100 marks.

• All papers are subjective (theoretical and practical questions).

• To pass, candidates need to score at least 40% in each paper and a total of 50% aggregate in each group.

The Intermediate syllabus prepares students for advanced professional responsibilities in accounting, finance, and business management.