Blog, CA

Plan your CA Intermediate under the New Scheme of Education and Training

ICAI new Scheme

Since the day The Institute of Chartered Accountants of India announced its new scheme of education and training a lot of speculation has been made for the course details, the new reforms in the syllabus etc. Being the institutes’ stakeholder a student ought to be curious about the changes proposed by ICAI. The new syllabus proposed by the CA Institute is quite competitive and promising and I can see good hope for the students in it. However, while this blog is published the institute was yet to announce the syllabus for the revised course and also the new syllabus was yet to be approved by Ministry of Corporate Affairs. However, the approval is anytime expected in late January and early February. While the students clearing the CA Foundation exam in Jan 2023 are awaiting to know whether new or old syllabus would be applicable for them for their CA Intermediate Nov 2023 exam.

Let us dive straight into knowing the proposed scheme of education and training (new syllabus for CA Intermediate.)

There are 6 Papers in the Revised Syllabus Divided into 2 Groups.

Group I:

Paper 1: Advanced Accountancy

Paper 2: Corporate Laws

Paper 3: Cost and Management Accounting   

Group II:

Paper 4: Taxation

Paper 5: Auditing and Code of Ethics

Paper 6A: Financial Management (50 Marks)

Paper 6B: Strategic Management (50 Marks)

The proposed scheme shall be partially objective and partially subjective (30% case study based MCQ’s and 70% descriptive questions) in all papers. It shall be a closed book test for all the papers. There would be 25% negative marking for each wrong answer to MCQ.

CA Intermediate New Syllabus 2023

  1. At this level the number of papers would be 6 instead of 8 in the current scheme.
  2. Instead of two papers on Accounting in the current scheme at this level, there would be a single paper titled Advanced Accounting. However, there will be no reduction in the content which is covered in the two papers in the present scheme vis-à-vis one paper in the proposed scheme. A portion of the syllabus of Paper 1 Accounting of the current course would be included in the syllabus of Foundation paper of Accounting in the proposed scheme so as to increase the standard of Foundation course. The balance contents will be included in the single paper on Advanced Accounting at the Intermediate Level in the new course.
  3. Instead of a paper on Enterprise Information Systems at this level, information technology education is being integrated with the subjects at the Final level.
  4. The paper on Corporate Laws would cover Companies Act in its entirety, since Business Laws is already covered at Foundation level through a 100 marks paper.

Others Details of the CA Proposed Syllabus:

For CA Foundation Route:

Study period shall be of 8 months.

For Direct Entry Route:

After completion of 9 months of Practical Training.

Validity of CA registration:

5 years. Re-validation with prescribed fee permitted once.

CA Inter Exemption and Passing Criteria:

40% marks in individual paper and 50% marks in aggregate to pass the group.

If a student secures 60% or more, in paper/papers in one attempt, exemption of each paper(s) for immediate 3 attempts is allowed. Thereafter, exempted paper/s will be treated as permanently passed and student has to score 50% to pass in the remaining paper/s individually. The student may, however, opt to surrender the exemption after 3 attempts.

Eligibility to appear in CA Final Examination:

  1. A candidate who has passed both groups of the Intermediate examination.
  2. Completed the prescribed second level soft skills and information technology courses.
  3. Qualified the four self-paced modules (four SETS).
  4. After completion of six months from the end of the 2 years practical training period, before the 1st day of the month in which examination is held.