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ICAI Revised syllabus of selected papers of Intermediate and Final Courses

Important Announcement


Sub: Revision of syllabus of

Group – I – Paper- 4 – Taxation – Part – II and
Group – II – Paper – 7 – Section A: Information Technology of
Intermediate (IPC) Course; and

Group – II – Paper – 6 Information Systems Control and Audit and
Group – II – Paper – 8 – Indirect Tax Laws of Final Course.
As per the decision of the Council taken at its 324th held in March, 2013, it is
notified for information of students and the public at large that the examination in
the following papers effective from November 2014 examination and onwards shall
be held as per the revised syllabus, as specified by the Council in terms of its
authority as vested in Regulation 28E (3) and 31(iii) in respect of Intermediate
(IPC)/Accounting Technician Examination and Final Examination respectively.
Intermediate (IPC) Examination/
Accounting Technician Examination
(ATE) under Regulation 28E (3) of the
Chartered Accountants Regulations,
Paper 4:
Part I : No change
Part II: Taxation i.e. Service Tax (25
Marks) and VAT (25 Marks)
Paper 7: Section A: Information
Technology (50 Marks)
Final Examination under Regulation 31(iii) of the Chartered Accountants
Regulations, 1988
Paper 6: Information Systems Control
and Audit (100 Marks)
Paper: 8: Indirect Tax Laws (100 Marks)
The detailed Revised Syllabi in respect of aforesaid papers of Intermediate
(IPC) and Final Examinations are hereby attached for the information of students
and general public.
It is clarified that there is no change in the syllabus of remaining papers of
Intermediate (IPC) Course and Final Course, except as specified above.
Director, Board of Studies
To develop an understanding of the basic concepts of the different types of indirect taxes and to
acquire the ability to analyse the significant provisions of service tax.
1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional
aspects, Basic concepts relating to levy, taxable event and related provisions
2. Significant provisions of service tax
(i). Constitutional Aspects
(ii) Basic Concepts and General Principles
(iii) Charge of service tax including negative list of services
(iv) Point of taxation of services
(v) Exemptions and Abatements
(vi) Valuation of taxable services
(vii) Invoicing for taxable services
(viii) Payment of service tax
(ix) Registration
(x) Furnishing of returns
(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]
Note – If new legislations are enacted in place of the existing legislations the syllabus will
accordingly include the corresponding provisions of such new legislations in place of the existing
legislations with effect from the date to be notified by the Institute. Students shall not be examined
with reference to any particular State VAT Law.
Intermediate (IPC), Group-II, Paper-7A: Information Technology
Paper – 7A: Information Technology (50 Marks)
Level of Knowledge: Working Knowledge
Objective: “To develop understanding of Information Technology as a key enabler and facilitator of
implementing Information Systems in enterprises and their impact on business processes and controls”.
1. Business Process Management & IT
 Introduction to various Business processes – Accounting, Finances, Sale, Purchase etc.
 Business Process Automation – Benefits & Risks
 Approach to mapping systems : Entity Diagrams, Data Flow Diagrams, Systems Flow
diagrams, Decision trees/tables, 
 Accounting systems vs. Value chain automation, Information as a business asset
 Impact of IT on business processes, Business Risks of failure of IT
 Business Process Re-engineering

2. Information Systems and IT Fundamentals
 Understand importance of IT in business and relevance to Audit with case studies.
 Understand working of computers and networks in business process automation from
business information perspective
 Concepts of Computing (Definition provided by ACM/IEEE and overview of related
terminologies) 
 Overview of IS Layers – Applications, DBMS, systems software, hardware, networks &
links and people
 Overview of Information Systems life cycle and key phases
 Computing Technologies & Hardware – Servers, end points, popular computing
architectures, emerging computing architectures & delivery models – example: SaaS, Cloud
Computing, Mobile computing, etc.
 Example: Overview of latest devices/technologies – i5, Bluetooth, Tablet, Wi-Fi, Android,
Touchpad, iPad, iPod, Laptop, Notebook, Smartphone, Ultra- Mobile PC etc.)

3. Telecommunication and Networks
 Fundamentals of telecommunication 
 Components and functions of Telecommunication Systems
 Data networks – types of architecture, LAN, WAN, Wireless, private and public
networks etc.
 Overview of computing architectures – centralised, de-centralised, mainframe, clientserver,
thin-thick client etc.
 Network Fundamentals – Components, Standards and protocols, Network risks &
controls – VPN, Encryption, Secure protocols,
 Network administration and management – concepts and issues
 How information systems are facilitated through telecommunications.
 How Internet works, Internet architecture, key concepts, risks and controls
 e-Commerce and M-commerce technologies

4. Business Information Systems
 Information Systems and their role in businesses
 IT as a business enabler & driver – ERP, Core Banking System, CRM, SCM, HRMS,
Payment Mechanisms
 The relationship between organisations, information systems and business processes
 Accounting Information Systems and linkages to Operational systems
 Business Reporting, MIS & IT
 Organisation Roles & responsibilities and table or authorities, importance of access
controls, privilege controls
 Specialised systems – MIS, DSS, Business Intelligence, Expert Systems, Artificial
Intelligence, Knowledge Management systems etc.

5. Business process automation through Application software
 Business Applications – overview and types
 Business Process Automation, relevant controls and information systems
 Information Processing & Delivery channels and their role in Information Systems
 Key types of Application Controls and their need
 Emerging concepts – Virtualisation, Grid Computing, Cloud delivery model
Final Course, Group-II, Paper-6:
Information Systems Control and Audit
(One Paper – Three Hours – 100 Marks)
Level of Knowledge: Advanced Knowledge
Objective: “To develop competencies and skill-sets in evaluation of controls and relevant evidence
gathering in an IT environment using IT tools and techniques for effective and efficient performance of
accounting, assurance and compliance services provided by a Chartered Accountant”.
1. Concepts of Governance and Management of Information Systems
Governance, Risk and compliance and relationship between governance and management.
Role of information technology and IS Strategy in business strategy, operations and control , business
value from use of IT, business impact of IS risks different types of Information Systems Risks, IS Risk
management overview, IT Compliance overview – Role and responsibilities of top management as regards
IT-GRC. Role of Information Systems Assurance. Overview of Governance of Enterprise IT and COBIT
2. Information Systems Concepts
Overview of information systems in IT environment and practical aspects of application of information
systems in enterprise processes. Information as a key business asset and its relation to business
objectives, business processes and relative importance of information systems from strategic and
operational perspectives. Various types of business applications, overview of underlying IT technologies.
3. Protection of Information Systems
Need for protection of Information systems, types of controls, IT general controls, logical access controls &
application controls. Technologies and security management features, IS Security Policies, procedures,
practices, standards and guidelines, IT controls and control objectives, Role of technology systems in
control monitoring, segregation of duties. Impact of IT controls on Internal controls over financial reporting,
cyber frauds and control failures.
4. Business Continuity Planning and Disaster recovery planning
Assessing Business Continuity Management, Business Impact Analysis and Business Continuity Plans,
Disaster recovery from perspective of going concern, Recovery Strategies
5. Acquisition, Development and Implementation of Information Systems (SDLC)
Business process design (integrated systems, automated, and manual interfaces), Software procurement,
RFP process, evaluation of IT proposals, computing ROI, Computing Cost of IT implementation and cost
benefit analysis, systematic approach to SDLC and review of SDLC controls at different stages.
6. Auditing & Information Systems
Different types of IS audit and assurance engagements. Evaluating IT dependencies for audit planning.
Overview of continuous auditing. Auditing Information Systems- Approach methodology, and standards for
auditing information systems. IS Audit planning, performing an IS audit, rules of digital evidence, best
practices and standards for IS audit.
Reviewing General Controls, Application Controls, Application control reviews: Review of controls at
various levels/layers such as: Parameters, user creation, granting of access rights, input, processing and
output controls.
7. Information Technology Regulatory issues
Overview of Specific section of IT Act 2008 & Rules as relevant for assurance: Electronic Contracting,
digital signatures, cyber offences, etc. Need for systems audit as per various regulations such as: SEBI
Clause 49 listing requirements and internal controls, systems control & audit requirements as per RBI,
SEBI, IRDA. Concepts of Cyber forensics/Cyber Fraud investigation, Overview of Information Security
Standards ISO 27001, ISAE 3402/SA 402, ITIL
8. Emerging Technology: Overview of Cloud Computing, Software as a Service, Mobile Computing &
BYOD, Web 2.0 & social media, Green IT and related security and audit issues
(One paper – Three hours – 100 marks)
Level of Knowledge: Advanced knowledge
(a) To gain advanced knowledge of the principles of the laws relating to central excise,
service tax and customs
(b) To acquire the ability to apply the knowledge of the provisions of the above-mentioned
laws to various situations in actual practice
Section A: Central Excise (25 marks)
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax (50 marks)
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time
Section C: Customs and Foreign Trade Policy (25 marks)
Customs Act, 1962, Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to the
Customs Law
Note – If new legislations are enacted in place of the existing legislations relating to central excise,
customs and service tax, the syllabus will accordingly include such new legislations in place of the
existing legislations with effect from the date to be notified by the Institute.



What extra CA examination demands?

CA Examination is one of the toughest professional exams in the country. It takes a few things to crack this exam:

1. A proper mindset.

2. A sharp memory.

3. Proper time management.

4. Sincere preparation with proper revision &

5. Proper presentation of answers in examinations.

Do I need to further explain points mentioned above? I am not a rank holder and this article is not for prospective rank holders too. I am just an average ca final student and trying to help my ca student friends who study well and just need some extra marks to clear. I don’t know how to achieve merit or rank. All I know that I followed some tips which worked for me to clear Ipcc and I am sharing them all here. None of them are findings of me, I just used them. Even I don’t remember the sources, excuse me for that.

1. If you have 3 months in hand before exams, complete your study in 2 months and reserve one month for revision at least two times.

2. Solve questions like you are giving your main exams. Same completeness and seriousness apply during preparations.

3. Write more to increase speed and improve handwriting. It is not a waste of time. Clear written matter always scores well.

4. Try to solve whole paper in just 2 and half hour. So you will complete your paper before or at least on time. Use remaining half hour for corrections and final touch.

5. If you switch off your mobile during main exams then please do the same during preparations and revisions. Less or no TV. Just play light games or listen light music in gaps.

6. Maximum time to solve a question in exams = 1 mark * 1.5 minutes i.e. for 4 marks question maximum time is 6 minutes and so.

7. Write other alternate of answer if possible any.

8. In theory questions, always use first two lines impression.

9. Don’t panic to see twisted questions, stick to basics, Read questions and relate the things.

The institute’s inputs and other supports provided to students like rtps, suggested answers, practice manuals etc. are adequate to prepare themselves for and fare well in the examinations.

It is highly advisable:

1. In practical – Give proper format, working notes and assumptions with high speed.

2. In theory – (Long answer type questions) >Write brief intro, >Discuss main theme, >Write summary.

Hard study may fail but systematic never. Systematic means on proper time.

For serious study, Divorce the world during study time. It’s your parents, who waits for your results most.

During Studies:

1. Eat less, drink more.

2. Get rid of your weaknesses

3. Do chair study, don’t use bed.

4. Don’t change your study material again and again. Use good material and Scanner only.

5. Morning study and evening study is good instead of late night study.

During exam days:

1. Please never discuss with your friends, have faith in God and your knowledge.

2. Don’t tally the answer you wrote in exams with your book’s answer.

3. Do some breath exercises, take deep breaths.

Finally, it is not just an exam you are going to write; it is your fate and future. It is your last and final exam. Every mark is important in CA exam. Do as you know, even if you don’t know the answer just draw format and give headings. Complete the whole paper, it helps in scoring.

This article is by: Sanket.ca


It has been brought to our notice that the Notification No. 13-CA
(EXAM)/N//2013 dated 5th July, 2013 (hosted on the Institute’s website on 5th
July, 2013) relating to the date schedule, list of centres, examination timings,
etc of November, 2013 examinations is being presented in a distorted manner
by interpolating the following clause in social media and other fora to create
panic amongst the students of the Institute:
“Passing Criteria
Passing criteria at all level of the CA examination i.e. CPT, IPC and
Final has been changed to 55% marks in aggregate and 45% for
individual subjects w.e.f. May, 2015 Examinations.”
It is clarified for wider information of the students and other
stakeholders as also the public at large that there is no change in the passing
requirements nor is the Institute contemplating to effect any changes in the
passing requirements.
In other words, the existing passing requirements, i.e., securing at one
sitting a minimum of 40% marks in each paper and minimum of 50% marks
in the aggregate of the papers comprised in a group in respect of
Intermediate (IPC) and Final examinations remain unchanged, while the
passing requirements for CPT remain the same i.e. securing at one sitting a
minimum of 30% marks in each section and minimum of 50% marks in the
aggregate of all sections comprised in CPT examination.
It is our fervent appeal to the students, other stakeholders and the
public at large not to pay any heed to such unscrupulous emails/messages
being circulated in public domain.
For regular updates, kindly keep visiting http://www.icai.org .
(G. Somasekhar)
Addl. Secretary (Exams)


A few consideration for your CA Exam

A few consideration for Exam Buddies :-
[Must share ]Image
CA Rockstars.
1.In case of theory paper, just try to be as
much professional in written expression as
possible.See how they answer question in ICAI
Suggested solution,that’s what they demand
from you.Yahan wo log pass ni hotay jo sirf
sahi likhtay hain,balki jo bohat acha likhtay
hain wo pass hotay hain.Jo aur jitna pucha jaye
wohi aur utna hi batao (apna knowledge jharoge to examiner ko pasand ajao gay phir bar
bar bulaye ga).

2.In case of practical papers,jaldi jaldi mai poora paper solve krne ki bjaye sukoon se kro and
jitna kro sahi kro.Complete krna kabi zaroori ni hota (maine kabi pura ni attempt kiya).

CAFM mai sirf 58 no ka shi tha including theory fir bhi 52 mile 

3.Exam hall ki tension ko kisi b tarha avoid
kro.Ata sab kuch hota hai but un 3 hours mai
bhool jata hai tension se.

4.Last but not the least,jo mrzi kr lo pass GOD
ki mrzi se hona ha,so us se achay relations
bna k rakho (at least exam days mai,bad mai
to Dabang etc etc.hi dekhni ha sab ne). 

All the best 
BY : – Alkit Jain