CA IPCC Syllabus – Subjects, divisions, Marks Carried by each subject and etc.

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 CA IPCC Syllabus

Group 1
PaperSubjectMarks
Paper 1Accounting100 Marks
Paper 2

 

 

Part I

Corporate Laws and Other Laws

 

Corporate Laws

100 Marks

 

 

60 Marks

Part IIOther Laws40 Marks
Paper 3Cost and Management Accounting100 Marks
Paper 4

 

Paper 4A

Paper 4B

Taxation

 

Direct Tax Laws

Indirect Tax Laws

100 Marks

 

60 Marks

40 Marks

Group 2
Paper 5Advanced Accounting100 Marks
Paper 6Auditing and Assurance100 Marks
Paper 7

 

 

 

Section A

 

 

Section B

Enterprise Information Systems & Strategic Management

 

Enterprise Information Systems

 

Strategic Management

100 Marks

 

 

 

50 Marks

 

50 Marks

Paper 8

 

 

Section A

 

Section B

Financial Management & Economics for Finance

 

Financial Management

 

Economics for Finance

100 Marks

 

 

60 Marks

 

40 Marks

 

Let us now see them in detail syllabus of CA IPCC Syllabus as follows.

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Revised CA IPCC Syllabus – Chapters & Topics

PAPER 1 – ACCOUNTING SYLLABUS in CA IPCC Syllabus

 

One paperThree hours100 Marks

 

Accounting Contents:

  • Accounting Standards formulation process including Ind ASs (IFRS converged standards).
  • Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards).
  • Applications of Accounting Standards:

AS 1:         Disclosure of Accounting Policies

AS 2:         Valuation of Inventories

AS 3:         Cash Flow Statements

AS 4:         Contingencies and Events occurring after the Balance Sheet Date

AS 5:         Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies

AS 10:        Property, Plant, and Equipment

AS 11:        The Effects of Changes in Foreign Exchange Rates

AS 12:        Accounting for Government Grants

AS 13:        Accounting for Investments

AS 16:        Borrowing Costs

AS 17:        Segment Reporting

AS 22:        Accounting for Taxes on Income

  • Company Accounts
  • Redemption of preference shares;
  • Redemption of debentures;
  • Accounting for bonus issue and right issue.
  • Accounting for tax: Concept of deferred tax asset and deferred tax liability in line with AS 22 “Accounting for Taxes”.
  • Managerial Remuneration
  • Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement,
  • Profit (Loss) prior to incorporation
  • Accounting for Special Transactions:
  • Investment
  • Insurance claims for loss of stock and loss of profit
  • Hire – purchase and Instalment Sale Transactions
  • Special Type of Accounting
  • Departmental Accounting
  • Accounting for Branches including foreign branches
  • Accounts from Incomplete Records
  • Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

PAPER – 2: CORPORATE AND OTHER LAWS in CA IPCC Syllabus

One paperThree hours100 Marks

 

PART I – COMPANY LAW (60 MARKS) Contents:

The Companies Act, 2013 – Sections 1 to 148

  • Share Capital and Debentures
  • Preliminary
  • Incorporation of Company and Matters Incidental thereto
  • Prospectus and Allotment of Securities
  • Audit and Auditors
  • Acceptance of Deposits by companies
  • Registration of Charges
  • Management and Administration
  • Declaration and payment of Dividend
  • Accounts of Companies 

PART II- OTHER LAWS (40 MARKS)

  • The Indian Contract Act, 1872 (Specific contracts covered from section 123 onwards): Contract of Indemnity and Guarantee, Bailment, Pledge, Agency
  • The Negotiable Instruments Act, 1881: Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Negotiability, Assignability, Right and Obligation of parties, presentment of Instruments, Rules of Compensation
  • Interpretation of statutes: Rules of Interpretation of statutes, Aids to interpretation, Rules of Interpretation/construction of Deeds and Documents

 

PAPER – 3: COST AND MANAGEMENT ACCOUNTING in CA IPCC Syllabus

One PaperThree hours100 Marks

 

Contents:

  1. Overview of Cost and Management Accounting
  • Introduction to Cost and Management Accounting
  • Objectives and Scope of Cost and Management Accounting,
  • The users of Cost and Management accounting information- Functions of management accounting.
  • Role of cost accounting department in an organization and its relation with other departments.
  • Installation of Costing System
  • Relationship of Cost Accounting, Financial Accounting, Management Accounting and Financial Management.
  • Cost Terms and Concepts
  • Cost Reduction and Cost Control
  • Elements of Costs
  • j) Cost behavior pattern, separating the components of fixed, variable, semi-variable and step costs.
  • k) Methods of Costing, Techniques of Costing.
  • Cost Accounting with use of Information Technology.
  • Elements of Cost and preparation of Cost Sheets
  • Functional classification and ascertainment of cost
  • Preparation of Cost Sheets for the manufacturing sector and for the Service sector
  • Ascertainment of Cost and Cost Accounting System
  • Material Cost
  • Procurement procedures- Store procedures and documentation in respect of receipts and issue of stock, Stock verification,
  • Valuation of material receipts,
  • Inventory control­- Techniques of fixing the level of stocks- minimum, maximum, re-order point,

Safety stock, determination of optimum stock level,

  • Determination of Optimum Order quantity- Economic Order Quantity (EOQ),
  • Techniques of Inventory control- ABC Analysis, Fast, Slow moving and Nonmoving (FSN), High, Medium, Low (HML), Vital, Essential, Desirable (VED), Just-in-Time (JIT)- Stocktaking and perpetual inventory system, use of control ratios,
  • Inventory Accounting
  • Consumption- Identification with products of cost centers, Basis for consumption entries in financial accounting, monitoring consumption.
  • Employee Cost
  • Attendance and Payroll procedures­- Elements of wages- Basic pay, Dearness Allowance, Overtime, Bonus,
  • Holiday and leave wages, Allowances and Perquisites.
  • Employee Cost Control
  • Employee Turnover- Methods of calculating employee turnover, causes of employee turnover, effects of employee turnover.
  • Utilization of Human Resource, Direct and indirect employee Cost, charging of employee cost, Identifying employee hours with work orders or batches or capital jobs.
  • Remuneration systems and incentive schemes­- Time Rate System, Piece Rate System, and Differential piece rate system,

Calculation of wages, Effective Wages.

  • Direct Expenses
  • Direct expenses
  • Nature of Direct or Chargeable expenses.
  • Sub-contracting- Control on material movements, Identification with the main product or service.
  • Overheads
  • Functional analysis- Factory, Administration, Selling, Distribution, Research, and Development.
  • Behavioral analysis- Fixed, Variable and Semi-Variable.
  • Allocation and Apportionment of overheads using Absorption Costing Method.
  • Factory Overheads- Primary and secondary distribution,
  • Administration Overheads- Method of allocation to cost centers or products,
  • Selling & Distribution Overheads- Analysis and absorption of the expenses in products/ customers, the impact of marketing strategies, the cost-effectiveness of various methods of sales promotion.
  • Treatment of Research and development cost in cost accounting.
  • Concepts of Activity Based Costing (ABC)
  • Recording and Accounting of Costs
  • Non-integrated Cost Accounting system- Ledger under a non-integral system
  • Integrated (Cost and Financial) Accounting system- Ledgers under the integral system.
  • Difference between the Non- integrated and Integrated Accounting system.
  • Reconciliation of profit as per Cost and Financial Accounts (under Non- Integrated Accounting System).
  • Methods of Costing
  • Single Output/ Unit Costing
  • Job Costing: Job cost cards and databases, collecting direct costs of each job, attributing overheads to jobs, Application of job costing.
  • Batch Costing: Determination of optimum batch quantity, Ascertainment of cost for a batch, Preparation of batch cost sheet, Treatment of spoiled and defective work.
  • Contract Costing
  • Ascertainment of cost of a contract, Progress payment, Retention money, Escalation clause, Cost plus contract, Value of work certified, Cost of Work not certified.
  • Determination Value of work certified, Cost of work not certified, Notional or estimated profit from a contact.
  • Process/ Operation Costing
  • Process cost recording, Process loss, abnormal gains and losses, Equivalent units of production, Inter-process profit, Valuation of work in process.
  • Joint Products- Apportionment of joint costs, Methods of apportioning joint cost over joint products,
  • By-Products- Methods of apportioning joint costs over by-products, treatment of By-product cost.
  • Costing of Service Sectors
  • Determination of Costs and Prices of services of following sectors/ Industries:

– Transport, Toll roads, Hospitals, Canteen/ Restaurants, Hotels/ Lodges, Educational Institutions, Financial Institutions/ Banks, Insurance, IT sector and other services.

  • Cost Control and Analysis
  • Standard Costing
  • Setting up of Standards, Types of Standards, and Standard Costing as a method of performance measurement.
  • Calculation and Reconciliation of Cost Variances­- Material Cost Variance, employee Cost Variance, Variable Overheads

Variance and Fixed Overhead Variance.

  • Marginal Costing
  • Basic concepts of marginal costing, Contribution margin, Break-even analysis, Breakeven and profit volume charts, Contribution to sales ratio, Margin of Safety, Angle of Incidence, Cost-Volume-Profit Analysis (CVP), Multi- product break-even analysis, Consideration of Limiting factor (key factor),
  • Determination of Cost of a product/ service under marginal costing method, determination of cost of finished goods, work-in-progress,
  • Comparison of Marginal costing with absorption costing method- Reconciliation of profit under both methods,
  • Short-term decision making using the above concepts (basic / fundamental level).
  • Budget and Budgetary Control
  • Meaning of Budget, Essentials of Budget, Budget Manual, Budget setting process, Preparation of Budget and monitoring procedures.
  • The use of budget in planning and control
  • Flexible budget, Preparation of Functional budget for operating and no operating functions, Cash budget, Master budget,
  • Introduction to Principal/ Key budget factor, Zero Based Budgeting (ZBB), Performance budget, Control ratios and Budget variances.

PAPER – 4: TAXATION SYLLABUS in CA IPCC Syllabus

One paperThree hours100 Marks

 

 SECTION A: INCOME TAX LAW (60 MARKS)

Contents:

  1. Basic Concepts
  2. Income-tax law: An introduction
  3. Important definitions in the Income-tax Act, 1961
  4. The concept of the previous year and assessment year
  5. The basis of Charge and Rates of Tax
  6. Residential status and scope of total income
  7. Residential status
  8. The scope of total income
  • Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)
  1. Incomes not included in total income
  2. Tax holiday for newly established units in Special Economic Zones
  3. Heads of income and the provisions governing the computation of income under different heads
  4. Salaries
  5. Income from house property
  6. Profits and gains of business or profession
  7. Capital gains
  8. Income from other sources
  9. Income of other persons included in assesses total income
  10. Clubbing of income: An introduction
  11. Transfer of income without transfer of assets
  12. Income arising from the revocable transfer of assets
  13. Clubbing of income arising from a spouse, minor child and son’s wife in certain cases
  14. Conversion of self-acquired property into the property of HUF
  15. Aggregation of income; Set-off, or carry forward and set-off of losses
  16. Aggregation of income
  17. The concept of set-off and carry forward and set-off of losses
  18. Provisions governing set-off and carry forward and set-off of losses under different heads of income
  19. Order of set-off of losses
  • Deductions from gross total income
  1. General provisions
  2. Deductions in respect of certain payments
  3. Specific deductions in respect of certain income
  4. Deductions in respect of other income
  5. Other deductions
  • Computation of total income and tax liability of individuals
  1. Income to be considered while computing total income of individuals
  2. Procedure for computation of total income and tax liability of individuals
  3. Advance tax, tax deduction at source and introduction to tax collection at source
  4. Introduction
  5. Direct Payment
  6. Provisions concerning the deduction of tax at source
  7. Advance payment of tax
  8. Interest for defaults in payment of advance tax and deferment of advance tax
  9. Tax collection at source – Basic concept
  10. Tax deduction and collection account number
  11. Provisions for filing return of income and self-assessment
  12. Return of Income
  13. Compulsory filing of return of income
  14. Fee and Interest for default in furnishing return of income
  15. Return of loss
  16. Provisions relating to belated return, revised return etc.
  17. Permanent account number
  18. Persons authorized to verify return of income

SECTION B – INDIRECT TAXES (40 MARKS)

Contents:

  • The concept of indirect taxes
  • Concept and features of indirect taxes
  • Principal indirect taxes
  • Goods and Services Tax (GST) Laws
  • GST Laws: An introduction including Constitutional aspects
  • Levy and collection of CGST and IGST
  1. Application of CGST/IGST law
  2. The concept of supply including composite and mixed supplies
  • Charge of tax
  1. Exemption from tax
  2. Composition levy
  • Basic concepts of time and value of a supply
  • Input tax credit
  • Computation of GST liability (viii) Registration
  • Tax invoice; Credit and Debit Notes; Electronic waybill
  • Returns
  • Payment of tax including a reverse charge

GROUP II- PAPER 5: ADVANCED ACCOUNTING

 

One paperThree hours100 Marks

 

Contents:

  1. Accounting Standards

AS 7:         Construction Contracts

AS 9:         Revenue Recognition

AS 14:        Accounting for Amalgamations

AS 18:       Related Party Disclosures

AS 19:        Leases

AS 20:       Earnings per Share

AS 24:       Discontinuing Operations

AS 26:       Intangible Assets

AS 29:       Provisions, Contingent Liabilities, and Contingent Assets.

  1. Application of Guidance Notes issued by the ICAI on specified accounting aspects. Company Accounts
  2. Special Aspects of Company Accounts
  • Accounting for employee stock option plan
  • Buyback of securities
  • Equity shares with differential rights
  • Underwriting of shares and debentures.
  1. Reorganization of Companies
  • Accounting for Amalgamation (excluding inter-company holding) and reconstruction
  • Accounting involved in the liquidation of companies.
  1. Financial Reporting of Banking, Financial Services and Insurance (BFSI)
  • Insurance companies,
  • Banking companies and
  • Non-Banking Financial Companies
  • Mutual funds

And regulatory requirements thereof.

  1. Valuation of goodwill
  2. Consolidated Financial Statements

 

PAPER 6: AUDITING AND ASSURANCE (100 MARKS) in CA IPCC Syllabus

One paperThree hours100 Marks

 

  • Nature, Objective and Scope of Audit
  • Auditing Concepts
  • Standard Setting Process
  • Engagement Standards
  • Audit Strategy, Audit Planning and Audit Program
  • Audit Documentation and Audit Evidence
  • Risk Assessment and Internal Control
  • Fraud and Responsibilities of the Auditor in this Regard: Responsibility for the Prevention and Detection of Fraud; Fraud Risk Factors; Risks of Material Misstatement Due to Fraud; Communication of Fraud (SA 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements); Provisions of the Companies Act 2013 relating to fraud and rules thereunder including reporting requirements under CARO.
  • Audit in an Automated Environment
  • Audit Sampling
  • Analytical Procedure
  • Audit of Items of Financial Statements
  • The Company Audit
  • Audit Report
  • Audit of Banks: Understanding of accounting system in Banks, Audit Approach, Audit of Revenue items, Special Consideration in Bank Audit with emphasis on Advances and NPAs.
  • Audit of Different Types of Entities

PAPER – 7: ENTERPRISE INFORMATION SYSTEMS AND STRATEGIC MANAGEMENT in CA IPCC Syllabus

One paperThree hours100 Marks

 

SECTION A: ENTERPRISE INFORMATION SYSTEMS (50 MARKS)

Contents:

  1. AUTOMATED BUSINESS PROCESSES
  • Introduction to Enterprise Business Processes, Benefits, Risks and Controls;
  • Diagrammatic representation of business processes using Flowcharts;
  • Risks and controls for specific business processes: Procure to pay (P2P), Order to cash, Inventory Cycle, Hire to Retire, Supply Chain Management, Fixed Assets etc.
  • Applicable regulatory and compliance requirements including computer-related offenses, privacy, cyber-crime, Sensitive Personal Data Information of Information Technology Act, 2000
  1. FINANCIAL AND ACCOUNTING SYSTEMS
  • Integrated (ERP) and non-integrated systems with related risks and controls;
  • Business process modules and their integration with Financial and Accounting systems.
  • Reporting Systems and MIS, Data Analytics and Business Intelligence
  • Business Reporting and fundamentals of XBRL (extensible Business Reporting Language).
  • Applicable regulatory and compliance requirements
  1. INFORMATION SYSTEMS AND ITS COMPONENTS
  • Components of Automated Information Systems: Application Systems, Database, Network and Operating System with related risks and controls.
  • Mapping of Organization structure with segregation of duties in Information Systems.
  1. E-COMMERCE, M-COMMERCE AND EMERGING TECHNOLOGIES
  • Components and Architecture of E-Commerce and M-Commerce with related risks and controls
  • Business process flow with its related risks and controls
  • Applicable regulatory and compliance requirements
  • Emerging technologies with its related risks and controls
  1. CORE BANKING SYSTEMS
  • Components and Architecture of CBS and related risks and controls
  • Core modules of banking and Business process flow and its related risks and controls
  • Reporting Systems and MIS, Data Analytics and Business Intelligence
  • Applicable regulatory and compliance requirements

SECTION B: STRATEGIC MANAGEMENT (50 MARKS)

Contents

  1. Introduction to Strategic Management
  • Business Policy
  • Meaning and Nature of Strategic management
  • Business Strategy
  • Strategic Levels in Organizations
  1. Strategic Management in Government and Not-for-profit organization
  • Dynamics of Competitive Strategy
  • Competitive Landscape
  • Strategic Analysis
  • Industry and Competitive Analysis
  • Core Competence
  • Competitive Advantage
  • Internal and External Analysis
  • SWOT Analysis
  1. Strategic Management Process
  • Strategic Planning
  • Strategic Intent – Vision, Mission and Objectives
  • Strategy Formulation
  1. Corporate Level Strategies
  • Concepts and Nature of Corporate Strategy
  • Strategic Alternatives at Corporate Level
  • Growth
  • Stability
  • Expansion
  • Business Combinations – Mergers and Acquisitions
  • Strategic Alliances
  • Turnaround
  • Retrenchment and Retreat
  1. Business Level Strategies
  • Competitive Strategies at Business Level
  • Michael Porter’s Generic Strategies
  • Best-Cost Provider Strategy
  1. Functional Level Strategies
  • Marketing Strategy
  • Financial Strategy
  • Operations Strategy
  • Human Resource Strategy
  • Research and Development
  1. Organization and Strategic Leadership
  • Organization Structure
  • Strategic Business Unit
  • Strategic Leadership
  • Strategy Supportive Culture
  • Entrepreneurship and Entrepreneurship
  1. Strategy Implementation and Control
  • Strategy Implementation
  • Strategic Change
  • Strategic Control
  • Strategy Audit
  • Business Process Reengineering
  • Benchmarking

PAPER – 8: FINANCIAL MANAGEMENT AND ECONOMICS FOR FINANCE in CA IPCC Syllabus

One paperThree hours100 Marks

 

SECTION A: FINANCIAL MANAGEMENT (60 MARKS)

Objective: To develop an understanding of various aspects of Financial Management and acquire the ability to apply such knowledge in decision-making.

 

  1. Financial Management and Financial Analysis
  • Introduction to Financial Management Function
  1. Objective and scope of financial management
  2. Role and purpose
  • Financial management environment
  1. Functions of finance executives in an organization
  2. Financial distress and insolvency.
  • Financial Analysis through Ratios
  1. Users of the financial analysis
  2. Sources of financial data for analysis
  • Calculation and Interpretation of ratios:
    • Analyzing liquidity
    • Analyzing leverage
    • Analyzing solvency
    • Analyzing efficiency/ activity
    • Analyzing profitability
  1. Limitations of ratio analysis
  2. Financing Decisions
  • Sources of Finance
  1. Different Sources of Finance, Characteristics of different types of long-term debt and equity finance, Method of raising long-term finance
  2. Different Sources of short-term Finance
  • Internal fund as a source of finance
  1. International sources of finance
  2. Other sources of finance- Sale and leaseback, Convertible debt, Venture capital, Grants etc.
  • Lease Financing
  1. Concept and Classification
  2. Significance and Limitations of Lease Financing
  • Financial Evaluation of Leasing Decision
  • Cost of Capital
  1. The significance of the cost of capital
  2. Factors of the cost of capital
  • Measurement of costs of individual components of capital
  1. Weighted average cost of capital (WACC)
  2. The marginal cost of capital
  3. Effective Interest rate
  • Capital Structure Decisions
  1. The significance of the capital structure
  2. Determinants of capital structure
  • Capital structure planning and designing
  1. Designing of optimum capital structure
  2. Theories of Capital Structure and value of the firm- relevancy, and Irrelevancy of capital structure.
  3. EBIT- EPS Analysis, Breakeven- EBIT Analysis.
  • Under/ Over Capitalization.
  • Leverages
  1. Types of Leverages- Operating, Financial and Combined
  2. Analysis of leverages
  • Capital Investment and Dividend Decisions
  • Capital Investment Decisions
  1. The objective of capital investment decisions
  2. Methods of Investment appraisal:
  • Payback period discounted payback period
  • Accounting Rate of Return (ARR),
  • Net Present Value (NPV) – The meaning of NPV, Strengths, and limitations of NPV method, The impact of taxation on the NPV analysis, The impact of Inflation on the NPV analysis, The working capital adjustment in an NPV analysis, Capital rationing, Equivalent Annual Costs, Adjusted the present value
  • Internal Rate of return (IRR)- Limitations of the IRR method, Multiple IRRs,
  • Modified Internal Rate of Return (MIRR)- Definition and explanation of MIRR, The process for calculating MIRR, Strengths of the MIRR approach.
  • Profitability Index
  • Adjustment of Risk and Uncertainty in Capital Budgeting Decision
  1. Probability Analysis
  2. Certainty Equivalent Method
  • Risk-Adjusted Discount Rate
  1. Monte Carlo Simulation
  2. Decision Tree Analysis
  3. Scenario Analysis
  • Sensitivity Analysis
  • Dividend Decisions
  1. Basics of Dividends
  2. Forms of dividend
  • Determinants of dividend
  1. Relevancy and Irrelevancy of Dividend Policies- Traditional Approach, Walter’s model, Gordon’s model, Modigliani and Miller (MM) Hypothesis.
  2. Management of Working Capital (i) Management of Working Capital
  3. The management of working capital- Liquidity and Profitability
  • The Working capital financing decisions- Primary and Secondary Sources of Liquidity
  • The Working Capital Cycle (operating Cycle), Effectiveness of Working Capital based on its operating and cash conversion cycles
  1. Assessment of working capital requirement
  2. Management of Accounts Receivables (Debtors)
  3. Factoring and Forfaiting
  • Management of Accounts Payables (Creditors)
  • Management of Inventory
  • Management of Cash, Treasury management
  1. Banking norms of working capital finance

SECTION B: ECONOMICS FOR FINANCE (MARKS: 40)

  • Determination of National Income
  1. Macro-Economic Aggregates and Measurement of National Income
  2. The Keynesian Theory of Determination of National Income
  • The Money Market
  1. The Concept of Money Demand: Important Theories of Demand for Money
  2. The Concept of Money Supply
  • Monetary Policy
  • Public Finance
  • Fiscal functions: An Overview.
  1. Market Failure
  2. Government Interventions to Correct Market Failure
  • Fiscal Policy
  • International Trade
  1. Theories of International Trade
  2. Trade Policy – The Instruments of Trade Policy
  • Trade Negotiations
  1. Exchange Rates and its economic effects
  2. International Capital Movements: Foreign Direct Investment

 

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