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CA Final Elective Papers Applicable from 1st July 2017 -November 2018 exam

CA Final Elective papers Applicable from 1st July 2017 – November 2018 exam

CA Final Elective papers : ICAI has announced that they are introducing changes in the CA Course and the new CA Course would be applicable from 1st July 2017.

ICAI has introduced Optional Papers for CA Final students. Students appearing under New Revised CA Final course will have this Elective Papers option. Students under old syllabus need to first convert to the new syllabus in order to be eligible for this benefit.

Download CA final elective papers detailed information by clicking on the image below

CA Final Elective Papers

CA Final Elective Papers

List of CA Final Elective papers Applicable from 1st July 2017 – November 2018 exam

CA Final Elective papers : The Paper 6 of CA Final would be elective paper and a student can choose any one of the elective papers which is applicable from Nov 2018 exam.

  1. Risk Management
  2. International Taxation
  3. Economic Laws
  4. Financial Services & Capital Markets
  5. Global Financial Reporting Standards
  6. Multidisciplinary Case Study

CA Final Elective papers :  Before appearing for CA Final Exams, a CA Student would also be required to undergo 4 weeks Advanced Integrated Course on Information Technology and Soft Skills (AICITSS) during the last 2 years of Article-ship but before appearing for CA Final Exams.

CA Final Elective papers PAPER 6A RISK MANAGEMENT (One paper – Three hours – 100 marks)

Objectives:

CA Final Elective papers :  (a) To gain knowledge and an insight into the spectrum of risks faced by businesses and to learn techniques of managing risks.
(b) To build capability for applying such learning to address risk related issues in real-business scenarios.

  1. INTRODUCTION TO RISK
    • The Concept of Risk
    • Risk and Uncertainty : Distinction
    • Classification of Risks
    • Dynamic Nature of Risks
    • Types of Risk (illustrative list)
    • Strategic and Operational Risks
    • Business Risk
    • Financial Risk
    • Information Risk
    • Liquidity Risk
  2. SOURCE AND EVALUATION OF RISKS
    • Identification and Sources of Risk
    • Quantification of Risk and various methodologies
    • Impact of Business Risk
    • Identify and assess the impact upon the stakeholder involved in Business Risk
    • Role of Risk Manager and Risk Committee in identifying Risk
  3. RISK MANAGEMENT
    • Concept of Risk Management
    • Objective and Process of Risk Management
    • Importance of Risk Management
    • Risk Management techniques
  4. QUANTITATIVE ANALYSIS
    • Population and Sample Analysis
    • Bayesian analysis
    • Statistical inference and hypothesis testing
    • EWMA and GACH Model
    • Volatility
    • Artificial Intelligence and Business Analytics
  5. RISK MODEL
    1. VAR
    2. Stress Testing
    3. Scenario Analysis
    4. Country and Sovereign Risk Models and Management
  6. CREDIT RISK MEASUREMENT AND MANAGEMENT
    • Understanding the component of credit risk
    • Evaluating credit risk
    • Mitigating Credit risk
    • Qualitative and Quantitative techniques to manage risk
    • Credit scoring models
  7. RISK ASSOCIATED WITH CORPORATE GOVERNANCE
    • Evaluation of Risk Associated with Governance
    • Description and evaluation of framework for Board level consideration of risk
    • OECD Guidelines for Corporate Governance
  8. ENTERPRISE RISK MANAGEMENT
    • Definition, Scope and Techniques
  9. OPERATIONAL RISK MANAGEMENT
    • Definition, Scope and Techniques

CA Final Elective papers :  Following topic are covered in the paper of Financial Management (Paper 7 Part I, Intermediate Level) and Strategic Financial Management (Paper – 2, Final Level) also forms the part of the syllabus

  • Risk Management in Investment Decisions
  • Foreign Exchange Risk
  • Interest Rate Risk

CA Final Elective papers – PAPER 6B FINANCIAL SERVICES AND CAPITAL MARKETS (One paper – Three hours – 100 marks)

Objectives:

CA Final Elective papers :  (a) To gain knowledge of financial services rendered by intermediaries and banks and their role and activities in the financial market in general and capital markets in particular;
(b) To acquire the ability to apply such knowledge to address issues in practical scenarios.

Contents:

  1. Global Financial Markets
    • Introduction to Global Financial Market
    • Role of Financial Market in Economic Development of a country
    • Stakeholders in Financial Market (Domestic and Global)
    • Indian Financial Market scenario
  2. Impact of various Policies of Financial Markets
    • Credit Policy of RBI
    • Fed Policy
    • Inflation Index, CPI, WPI, etc.
  3. Capital Market – Primary
    • New Issue Market – Domestic and Global
    • Private Placement , QIP, Disinvestment
    • Right Issue
  4. Capital Market – Secondary
    • Secondary Market
    • Stock Market Operations
    • Indian Debt Market
  5. Money Market
    • Basics of Money Market
    • Money Market Participants
    • Money Market Instruments
    • Repo and Reverse Repo
    • CRR, SLR
    • MIBOR, LIBOR
    • Government Securities Market
  6. Institutions and Intermediaries
    • Depository
    • Stock and Commodity Exchanges – Indian and Global
    • Intermediaries
    • Institutional Investors
    • FPIs
    • Custodians
    • Clearing Houses
  7. Commodity Market
    • What are Commodity Markets
    • Role of Commodity Markets
    • Commodity Market in India
    • Application of Derivative in Commodities
    • Global Commodities Exchanges
  8. Banking
    • Banking – Management
      • Capital Adequacy including RBI & Basel Norms
      • Asset Reconstruction
      • Asset –Liability Management (ALM)
    • Banking as source of Capital including NBFCs
      • Concept of Project Financing
      • Working Capital Management
      • Reverse Mortgage
  9. Mutual Funds
    • Meaning
    • Evolution
    • Types
    • Performance Measures, NAV
    • Mutual Fund Organisation
    • Advantages and Disadvantages of Mutual Fund
    • Exchange Traded Funds (ETFs)
    • Real Estate Investment Trusts (ReITs)
    • Infrastructure Investment Trusts (Invits)
  10. Private Equity
    • Meaning and Classification
      • Venture Capital
      • Buyouts
      • Special Cases
      • Hurdle rate
      • Paid in Capital
      • Term Sheet
    • Cost of Investing in Private Equity
    • Exit Routes
    • Valuation of Private Equity Transactions
    • Private Equity Funds (Distribution of returns in General Partner and Limited Partners)
  11. Investment Banking
    • Concept
    • Functions
    • Challenges
    • Developments in Investment Banking
    • Merchant Banking and issue management
  12. Credit Rating
    • Introduction
    • Rating Services
    • Objectives and types
    • Uses
    • Credit Rating Process
    • Credit Rating Methodology
    • Rating Revisions
    • Credit Rating Agencies in India and abroad
    • Limitations with case studies
  13. Treasury Operations
    • Raising and Deployment of Funds
    • Risk Management
  14. Risk Management
    • Preventive Controls
    • Early Signals
    • Credit Risk
  15. Credit Derivatives
    • Credit Default Swaps
    • Collateralized Debt Obligations (CDO)
    • Pricing of Credit Derivative Instruments
  16. SEBI Guidelines

CA Final Elective papers – PAPER 6C INTERNATIONAL TAXATION
(One paper – Three hours – 100 marks)

Objective:

CA Final Elective papers :  To develop an understanding of the concepts, principles and provisions relevant to international taxation and acquire the ability to apply such knowledge to make computations and address issues in practical case scenarios.

Content:

Part I. Taxation of International Transactions and Non-resident Taxation in India (50 Marks)

  1. Transfer Pricing provisions under the Income-tax Act, 1961
    • Arm’s Length Price
    • International Transactions
    • Most Appropriate Method
    • Functions, Assets and Risk Analysis
    • Documentation & Compliances
    • Specific Reporting Regime in respect of Country by Country reporting and master file
    • Advance Pricing Agreements
  2. Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961
    • Non-resident Taxation (including Source Rule of Taxation)
    • Double Taxation Relief
    • Advance Rulings
  3. Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview.

Part II: Other aspects of International Taxation (50 Marks)

  1. Overview of Model Tax Conventions
    • OECD Model Tax Convention
    • UN Model Tax Convention
    • US Model Tax Convention
  2. Tax treaties, Application and Interpretation
    • Features of Tax treaties
    • Overview of Tax Information Exchange Agreements
    • Commentaries and their importance
    • Role of Vienna Convention in application and interpretation of tax treaties
  3. Anti Avoidance Measures
    • Controlled Foreign Corporations
    • Base Erosion and Profit Shifting
    • Other Anti Avoidance Measures
  4. Taxation of E-Commerce Transactions
    • Introduction
    • Emerging issues
    • Equalisation levy

Note:

  1. Transfer Pricing in Part I to carry weightage of 30 marks.
  2. If any new legislation(s)are enacted in place of an existing legislation(s), the syllabus will accordingly include the corresponding provisions of such new legislation(s) in the place of the existing legislation(s) with effect from the date to be notified by the Institute. Similarly, if any existing legislation(s)on direct tax laws ceases to be in force, the syllabus will accordingly exclude such legislation(s)with effect from the date to be notified by the Institute.
  3. The specific inclusions/exclusions in any topic covered in the syllabus, wherever required, will be effected by way of Study Guideline every year. Specific inclusions/exclusions in a topic may also arise due to additions/deletions made every year by the Annual Finance Act.

CA Final Elective papers  -PAPER 6D ECONOMIC LAWS (One paper – Three hours – 100 marks)

Objective:
CA Final Elective papers :  To develop an understanding of the provisions of different laws and acquire the ability to apply the knowledge to address issues in practical case scenarios.

Contents:

  1. World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism
  2. Competition Act, 2002 and Rules/ Regulations
  3. Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
  4. Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
  5. Prevention of Money Laundering Act, 2002 and Rules/ Regulations
  6. Foreign Exchange Management Act, 1999 and Rules/ Regulations
  7. Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

Note: If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute. Similarly if any existing legislation ceases to have effect, the syllabus will accordingly exclude such legislation with effect from the date to be notified by the Institute.

The specific inclusions/exclusions in the various topics covered in the syllabus will be effected every year by way of Study Guidelines, if required.

CA Final Elective papers  – PAPER – 6E GLOBAL FINANCIAL REPORTING STANDARDS (One paper – Three hours – 100 marks)

Objective:

CA Final Elective papers :

  1. To develop an understanding of the key concepts and principles of International Financial Reporting Standards and to acquire the ability to apply such knowledge to address issues and make computations in practical case scenarios.
  2. To develop an understanding of the significant differences between IFRS and US GAAPs and apply the same in practical case scenarios.

Content:

  1. Conceptual Framework for Financial Reporting as per IFRS – 10 Marks
  2. Application of International Financial Reporting Standards – 70 Marks
  3. Significant differences between IFRS and US GAAPs – 20 Marks

CA Final Elective papers – PAPER 6F MULTIDISCIPLINARY CASE STUDY
(One paper – Three hours – 100 marks)

Objective:

CA Final Elective papers :  To analyse and integrate the concepts, principles and provisions of accounting, auditing, taxation, corporate laws, finance and business strategy and management to address issues in practical case scenarios

This paper will cover Case Studies based on the following subjects.

  • Financial Accounting and Reporting
  • Audit and Assurance
  • Taxation
  • Finance and Financial Management
  • Management Accounting
  • Corporate Laws
  • Business Strategy and Management

Open Book Exam of CA Final Elective Papers

CA Final Elective papers :  As per the Revised Scheme of Education and Training, CA Final student has to choose among the 6 elective papers.

ICAI has also clarified that Examination of these subjects will be an Open Book Exam.

Frequently asked questions (FAQ) for CA Final Elective papers

Q 1:Why has the concept of Electives been introduced by ICAI?

CA Final Elective papers: In the Revised Scheme of Education and Training, the concept of Electives has been introduced with the thought that Specialization is the key to developing professionally competent Chartered Accountants. As per this thought, an emerging Chartered Accountant has to be geared up to assume new roles as consultants and advisers, necessitated on account of growing business complexity, dynamic changes in legislation and regulatory requirements and client expectations.

Q 2:Which Subject should you read for ca final elective papers?

CA Final Elective papers: The aspiran can choose any one among the six elective papers keeping in mind their desired area of specialization. Before choosing a subject in this elective paper it’s advisable to start taking a note of areas and things that interest you in terms of work since this will be a case study based exam. To know about list of elective papers read above contents.

Quick links to other important CA Final Elective papers related article

CA Final Elective papers: If you are reading this article not to check your result but to gain understanding about the CA Final result, we recommend you read the following articles too for complete understanding on CA Final exam. All information has been provided with in-depth research.

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