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Draft of changes proposed for CA New course from 2016 by ICAI

Draft of changes proposed for CA New course from 2016 by ICAI

ICAI has been working on improving the CA course for sometime now. A new and improved curriculum is expected to be introduced from 2016 exams. A committee has been overlooking suggestions and will recommend changes that are finally undertaken. Students and members can advise changes and send them to cret@icai.in. Please note that you can send until 28th Feb 2015.

All Draft of changes proposed for CA New course from 2016 by ICAI are as summarized below –

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S. No.Change in CA New CourseReason for the Change
1.Change of Name to CA Foundation, Intermediate and CA FinalThese names are more widely accepted and are quite familiar and well known to the society.
2.Time Gap of 9 Months between registering for CA Course and appearing for CA Foundation ExamsAdequate time is given so that students get sufficient time to study since the Foundation Course has been made descriptive. Also there is an addition of a full new paper.
3.CA Foundation Exam will be partly descriptive in nature.The present MCQ based system for all papers is giving rise to guess work. As a result, even undeserving students reach the next level giving rise to false hopes. It affects the quality of the profession.Moreover, the writing skills are also not tested in the current manner in which the CPT Exam is conducted.
4. Foundation CourseNo. of Papers – 4Paper 1: Fundamental of Accounts (100 Marks)Paper 2: Quantitative Aptitude (100 Marks)

Paper 3: Mercantile Law (60 Marks) and General Economics (40 Marks)

Paper 4: General English (50 Marks) and Business Communication (50 Marks)

Fundamentals of Accounting and Quantitative Aptitude have been raised to full papers of 100 Marks having regard to their importance and ensuring strong foundation for CA Students.Mercantile Law is for 60 Marks as Contract Act, 1872 will be exclusively covered here.General English and Business Communication added as a new subject seeing its importance in the modern business world and preparing the CA’s for tomorrow.This will also provide an opportunity to test the writing skills of potential candidates
512 Months Study Period for Intermediate Students from the Date of Registration for the Intermediate CourseKeeping in view that it is proposed to have 8 full papers at the intermediate level, the study period has been raised to 12 months.
6Intermediate: 8 PapersGroup IPaper 1: Accounting (100 Marks)Paper 2: Company Law (60 Marks), Other Laws (20 Marks) & Ethics (20 Marks)

Paper 3: Cost Accounting (100 Marks)

Paper 4: Direct Taxes (100 Marks)

Group II

Paper 5: Advanced Accounting (100 Marks)

Paper 6: Auditing and Assurance (100 Marks)

Paper 7: Financial Management (100 Marks)

Paper 8: Indirect Taxes (100 Marks)

  • The existing communication of 20 Marks is proposed to be dropped from the Intermediate Level as it is now a 50 Marks paper at the Foundation Level.
  • Business Laws of 30 Marks has been dropped from the Intermediate Course as it is included as a full paper at the Foundation Level.
  • Allocation of Marks of Company Law has been raised to 60 Marks in view of its scope and Coverage.
  • Select Allied Laws are also proposed to be taught at the Intermediate Level.
  • Paper on Information Technology (IT) has been proposed to be dropped as there are 2 Training Courses of 3 weeks each on IT. This would also provide the flexibility to modify the course contents to be in tandem with the changing environment.
  • Further, it is also proposed to introduce Assessment Test to test the competence of the students.
  • Paper on Strategic Management has also been dropped as many aspects are proposed to be covered in the Integrated Course on Information Technology and Soft Skills.
  • Financial Management and Cost Accounting are proposed to be made full papers of 100 Marks each, having regard to their Course Contents.
7Practical Training of 3 years will commence after qualifying either Group I or Both Groups of Intermediate and after successful completion i.e. passing an assessment test of 3 Weeks on Information Technology and Soft Skills (ICITSS)The condition of successfully completing the ICITSS before practical training is to ensure that Stuidents attain a reasonable level of Technical and Soft Skills required to carry out their work as CA Professionals.The ITT and GMCS have been merged to save the time, resources and energy of all involved.
8The Students will have to undergo 3 Weeks advanced integrated course Information Technology and Soft Skills (AICITSS) during the last 2 years of Practical Training.The AICITSS will ensure advanced knowledge of technical and soft skills relevant for the profession.Their completion during the last 2 years will ensure that the students get the necessary and useful skills during the course of their training.
9Students can appear for CA Final Exams after the completing of 3 years of Practical TrainingThis is to ensure minimum interruption in Practical Training.
10 CA Final, No. of Papers – 8Group IPaper 1: Financial Reporting (100 Marks)Paper 2: Strategic Financial Management ( 100 Marks)

Paper 3: Advanced Auditing and Professional Ethics (100 Marks)

Paper 4: Corporate Laws and Other Economic Laws (100 Marks)

Group II

Paper 5: Advanced Management Accounting (100 Marks)

Paper 6: Financial Services and Capital Markets (100 Marks)

Paper 7: Advanced Tax Management (60 Marks) and International Taxation (40 Marks)

Paper 8: Indirect Tax Laws (100 Marks)

  • International Taxation for 100 Marks has been introduced in view of the increasing importance of the subjects in the present globalized world.
  • The nomenclature Corporate Laws and Other Economic Laws has been kept to make the name more representative of the subject.
  • The subject Information System Controls Audit (ISCA) has been dropped in view of 2 Courses on IT.
  • A new subject Financial Services and Capital Markets has been introduced to make CA’s more competitive in the finance related areas.
11.To introduce and integrated question covering diverse topics in each paper of CA Final ExamIt would help in testing overall knowledge, understanding and application skills of the students who would be entering the profession in the near future.

 

What do you think about the changes proposed? Leave your comments below.

 

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26 comments
  1. Vignesh.K says:

    The drill from the first phase from the foundation is what makes students strong to face the remaining levels. As a final student I feel that this suits everyone taking direct entry students and the students from foundation into consideration with respect to the programmes for skill development and time for learning.

  2. Sonam says:

    To appear for CA final exams after completing 3 years of training is wrong. It leads to delay in attempt which is not acceptable.

  3. Deepak Karki says:

    All the changes are welcome and needful but regarding the 3 yrs of completion of practical training should be reduce to 2 years.

  4. m.chaitanya says:

    Nice.but it will take more time to to complete can when compared to present situation.2016 syllabus is more practical .Really it is very useful

  5. deepika mantha says:

    Dear sir, the change in subjects and exam pattern is really appreciable. But please do think about the duration of the course. It will raise to almost 5 and a half years. Moreover making mercantile law as a subjective paper at cpt level is difficult to achieve for students at that age. Also compulsory articles and making final after articles is a good point, however 3 years is a very long duration. Students have to even take coaching for their final. Instead students have to do articles for 2 and half years covering 3 septembers or so would be a better clause. The biggest advantage of these ammendments is that it would bring out only quality students out as qualified cas. But at the same time the strength would reduce badly due to high duration.

    1. venkataramanan says:

      A welcome change….50 marks at ipcc for costing , fm, dt, idt made no sense…costing 12 chapters 50 marks …in tat theory..so whats the use of solving n no. of sums…and dt for 50 marks was ridiculous given its volume and complexity…ppl could easily pass just by reading idt and select topics in dt….i feel accounting and auditing standards should be combined for one full 100 mark paper….company law 30 marks and info tech n sm 100 marks…which is important for a CA? CO LAW …THE CORE SUBJECT JUST FOR 30 MARKS…COMPARE WITH ETHICS N COMM 40 MARKS…FINALLY ALL CHANGES ARE TAKING PLACE

  6. Anand says:

    Dropping strategic management from intermediate levelis questionable, students will not understand current scenario of changes in global environment, the present book in intermediate level is good but for a few spelling mistakes which need correction and informational technology topics presently covered could be introduced in for atleast 20 marks some where in one of the papers. Direct taxes as 100 marks will not serve any purpose , because they are reading the same heads of income through out the course even at final stage. rather for students who want to practicesthere should be some element of drafting introduced in the final stage of ca course,such as appeals, etc revision etc

    The above changes does increase the number of years the students take to complete the course.

    The final could be divided into 2 portions one group at the end of 1.5 years and another group towards the end of articleship training.This will reduce tension in the minds of students. Now the students are spending time without studying for 2.5 years and even if they attend the classes conducted by various institutes proliferating in large numbers, for a hefty fees , most of the students do not remember anything before the exam towards the end of 2.5 years.

    Catch them young will be lost if Icai goes on increasing the time spend on the course.

  7. Mahesh Kumar Gupta says:

    It’s a good step taken by ICAI, making the course more commensurable to the present scenereo of globlisation.

  8. vaibhav says:

    Sir,

    As its a welcome step from ICAI that it has showed interest into changing the syllabus. But even after being a CA the basic objective is to earn the livelihood. But from the glimpses of draft I can say its not a appreciable step that ICAI is prolonging the final attempt. An average student needs suffice time to get through. JAWANI SARI SIKHNE ME CHALI GAYI TO KAMAYEGA KAB !!!!!!!!!

  9. yash shah says:

    Its a good move by icai to introduce such favourable changes but the only thing that will hurt all of us is articleship tenure. three years of articleship is really a big period according to me and many other articles the tenure should be much less than the current one. The reason behind this would be the ca final leaves of around 4 months will be straight away cut off. Also during current articleship there are period where there is not so much of work to do that would be new work that a article needs to learn ,it makes it much monotonous for us.
    Accordingly, two or max two and half years would be a good tenure to complete our articleship.

  10. jaya bharti says:

    this is all practical sir bt pls reduce the duration of training

  11. Narayan tiwari says:

    All changes are good ,but article ship of three year should be reduce to two year or one and half.

  12. lokesh ks says:

    dearr sir, the changes you made are good,but to whom this applicable i.e.students register at 2016 or present registered students?

  13. jugal sahu says:

    Try to reduce the overall duration.
    Above duration is pure hardship to student.

  14. Shailendra jaiswal says:

    I WELCOME FOLLOWING CHANGES
    (1) inserting FOUNDATION is very very good.
    (2) changing time gap for foundation & intermidiate .
    (3) introduce ICITSS AND AICITSS instent of ITT,OTT,GMCS.
    (4) Droping IT-SM and ISCA , new subjects

    i’m sad for
    (1) restriction for joining training.
    (2) time gap for FINAL ( 3 YEAR ) as per my view practical training should be for 2 year .

  15. nithin says:

    it is very helpful for the freshers. they are going to equip with present practical scenario of the market.

  16. Karan Chandna says:

    Hi,

    Introducing Indirect taxes as a separate 100 marks paper at the Inter level needs modification. Rather the Institute can continue with total of 7 papers @ Inter level with IDT and DT to be merged with equal weightage.

    Also 3 yrs training period to be reduced to 2 years.

  17. Yogesh Kumar says:

    Dear Sir, changes regarding subjects and changing name is acceptable but appearing for final exams after completion of 3 years is very annoying and kindly think over it as it will result in delay of attempts which is very wrong from student point of view , also students should get sufficient time to get over the new course .

  18. BHUVNESH VARSHNEY says:

    I KNOW IT VERY HELPFUL AND PRACTICAL FOR OUR FUTURE BUT WHAT ABOUT EXISTING STUDENT WHO

  19. BHUVNESH VARSHNEY says:

    I KNOW IT VERY HELPFUL AND PRACTICAL FOR OUR FUTURE BUT WHAT ABOUT EXISTING STUDENTS WHO HAVE COMPLETED THEIR TRAINING AND NEAR TO COMPLETE SO PLZ TAKE PROPER STEPS BEFORE APPLYING THE PROPOSED COURSE

  20. Manish goyal says:

    Nice, This will made us more practical in finance department but sit can u plz tell me that new course is applicable from which attempt?

  21. Akshita Rela says:

    Dear sir, The change in subjects & Exam Pattern is very appriciable but change in duration is not, because the duration of ca syllabus is 4 Year around, and after this change the duration will be 5 year around. I know it is very helpful ,but see as a student point of view , think about it.

  22. sravani says:

    sir could you please tell me the chapters of each subject for nov 2016 exams

    1. https://s3-ap-southeast-1.amazonaws.com/static.cakart.in/avatar.png cakart says:

      Hi sravani,

      Please visit http://www.cakart.in for more detailed syllabus .
      Please send an email to cakart@suphalaam.com about your requirement and they will get back to you.
      you can also visit https://www.cakart.in and chat with our counsellors. You can whatsapp at 09743899547 or you can call at 09980100288.

      Thank you.

  23. manish kumar says:

    Sir
    I am hearty appreciating you for your awesome steps to change the sylabus.
    Which must get change as I am also the sufferer of previous syllabus especially it and sm.
    I think there is no much need of sm as it is for another high level study and not upto ipc level, and if you IT it totally useless instead of this we should organise 3 months or 6 months practical training after becoming CA So that it can be useful for future like knowledge of LAW, WAN etc.

  24. priya more says:

    As a student of the Institute of the Chartered Accountants of India, I hereby take the opportunity to submit my comments and constructive suggestions.
    Allowing students to appear in CA Final Examination only after completion of 3 years of practical training will effectively result into a gap of 3.5 years between passing Intermediate and appearing CA Final. This extreme wide gap may distract the students to switch over to other courses or vocation.
    Suggestions:
    An Advanced Practical training of 1 year may be introduced Post- Qualification (i.e. after clearing both the groups of CA Final), as a major step to give more exposure and focus on the practical training aspect. This will have following great advantages:
     The last year of Practical training, which is most relevant and important, will not be compromised for exams as it will be post-examination.
    Freshers may get good opportunity to continue with the firms, where they undergo advanced practical training.
     Those candidates who do not want to get COP may be relieved from this advanced practical training and they may opt for industrial training post –qualification.

    Consequent to this, the period of Practical training will be then for 2 years during the course of studying CA Final, after completion of which CA Final Examination shall become due, i.e. effectively there will be a gap of 2.5 years between passing Intermediate Examination and appearing CA Final Examination.
    OR
    Allowing to appear in CA Final in the last six months of Practical Training, as per the existing system.

    Where a student, as in most of the cases, register for CA Foundation after appearing for XII or equivalent exam, the proposed period of 9 months for Foundation studies will result his Foundation Examination becoming due effectively after 1 year of XIIth Standard. Then it will be followed by 1.5 years for Intermediate and 3.5 years for CA Final as proposed. This will result in aggregate 6 years for completing CA final after XIIth standard!!!
    Suggestions:
    A study period of 6 months should be kept instead of 9 months for CA Foundation. With this for a student who register within 1 month or 2 month after appearing XIIth standard, the foundation examination shall become due after 6 months of XIIth standa

    Proposal for a full paper on General English and Business Communication at the entry level itself, i.e. in CA Foundation Examination, may become an undesirable bar on students coming from Non-English medium background who are otherwise may be talented and competent. There is a fear that ICAI may lose pool of such talented students who have unfortunately not studied in English medium schools. They may be out from CA Education at the Entry level itself.
    Suggestions:
    General English and Business Communication, although is significant for a professional but it should not be placed at the entry level itself. It is suggested that a separate programme on Business English and Communication may be introduced outside the regular syllabus.

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