CA Intermediate Exam for the upcoming session will be conducted in May 2022. The dates for the exams have already been circulated by ICAI, as per which the students need to prepare themselves. Now, coming to the preparation, students should first go through the CA intermediate syllabus required to prepare for the exam and revise.
The very first thing that a student must be aware of is the CA Intermediate Syllabus. The syllabus consists of the entire topics asked in the exam. ICAI provides the latest syllabus of CA Intermediate on their official site. You can also get the CA Intermediate mock test papers on the official site of ICAI for revising each paper of the Intermediate course. Here we will be discussing the updated syllabus of the Intermediate course by ICAI.
ICAI CA Intermediate Syllabus May 2022
So, the ICAI CA Intermediate syllabus for May 2022 has been divided into eight papers. Now, let us see what topics are included in each of these papers.
Paper 1: ACCOUNTING
Accounting majorly deals with the accounting standards and helps the students prepare the financial statements in business.
- Process of formulation of Accounting Standards, including Ind ASs and IFRSs.
- Framework for Preparation and Presentation of Financial Statements.
- Applications of Accounting Standards
- Company Accounts
- Accounting for Special Transactions
- Special Type of Accounting
Paper 2: CORPORATE AND OTHER LAWS
So, Paper 2, i.e., Corporate and other laws, has been divided into two sections, and here we will go through the topics of both parts.
Part I. Company Law
- Preliminary
- Incorporation of Company and Matters Incidental
- Prospectus and Allotment of Securities
- Share Capital and Debentures
- Acceptance of Deposits by Companies
- Registration of Charges
- Management and Administration
- Declaration and Payment of Dividend
- Accounts of Companies
- Audit and Auditors
Part II. Other Laws
- The Contract Act, 1872
- The Negotiable Instruments Act, 1881
- The General Clauses Act, 1897
- Interpretation of statutes
Paper 3: COST AND MANAGEMENT ACCOUNTING
- Overview of Cost and Management Accounting
- Ascertainment of Cost and Cost Accounting System
- Methods of Costing
- Cost Control and Analysis
Paper 4: TAXATION
Again, Taxation has been divided into two different parts the one is Income Tax, and the other is Indirect Tax.
Part A. Income Tax Law
- Basic Concepts
- Residential Status and scope of total income
- Incomes that do not form part of comprehensive income
- Heads of income and provisions governing computation of income under different heads
- Income of other persons included in the assessee’s total income
- Aggregation of income; set-off, or carry forward and set-off of losses
- Deductions from total gross income
- Computation of total income and tax liability of individuals
- Advance tax, tax deduction at source, and Introduction to tax collection at source
- Provisions for filing return of income and self-assessment
Part B. Indirect Taxes
- Concept of Indirect Taxes
- Goods and Service Tax (GST) Laws
Paper 5: ADVANCED ACCOUNTING
- Application of Accounting Standards.
- Special Aspects of Company Accounts.
- Reorganization and Liquidation of Companies.
- Banking Companies and Non-Banking Financial Companies and regulatory requirements thereof.
- Consolidated Financial Statements.
- Dissolution of partnership firms.
Paper 6: AUDITING AND ASSURANCE
- Nature, Objective, and Scope of Audit.
- Audit Strategy, Audit Planning, and Audit Programme.
- Audit Documentation and Audit Evidence.
- Risk Assessment and Internal Control.
- Fraud and Responsibilities of the Author in this regard.
- Audit in an Automated Environment.
- Audit Sampling.
- Analytical Procedures.
- Audit of Items of Financial Statements
- The Company Audit.
- Audit Report.
- Bank’s Audit
- Audit of Different Types of Entities.
Paper 7: ENTERPRISE INFORMATION SYSTEM AND STRATEGIC MANAGEMENT
Section A. Enterprise Information System
- Automated Business Processes.
- Financial and Accounting Systems.
- Information Systems and its Components.
- E-commerce, M-commerce, and Emerging Technologies.
- Core Banking Systems
Section B. Strategic Management
- Introduction to Strategic Management.
- Dynamics of Competitive Strategy.
- Strategy Management Process.
- Corporate Level Strategies.
- Business Level Strategies.
- Functional Level Strategies.
- Organization and Strategic Leadership.
- Strategy Implementation and Control.
Paper 8: FINANCIAL MANAGEMENT AND ECONOMICS FOR FINANCE
Part A. Financial Management
- Financial Management and Financial Analysis.
- Financing Decisions.
- Capital Investment and Dividend Decisions.
- Management of Working Capital.
Part B. Economics for Finance
- Determination of National Income.
- Public Finance.
- The Money Market.
- International Trade.
CA Intermediate Syllabus Updates – May 2022
After adding some new laws and amendments, ICAI has also updated its syllabus for May 2022 CA Intermediate Exam. As per the new syllabus, some topics have been recently added to the course, whereas some old topics have been removed. So, let us go through the topics added and removed from the syllabus.
Addition of Topics in the CA Intermediate Syllabus 2022
All the topics which have been newly added to the syllabus of CA Intermediate for 2022 are:
- The topics of Paper 1, which was Accountings, have now been added to Advanced Accounting, Paper 5.
- ICAI has added new topics in Limited Liability Partnership. These topics include the dissolution of Partnership, Issues related to accounting such as sale to a company, and conversion of a partnership firm into a company. It has also included piecemeal distribution.
Deduction of Topics in the CA Intermediate Syllabus May 2022
Now, let us go through the topics that have been deducted from the CA Intermediate Syllabus for May 2022 session.
- Goodwill Valuation.
- ICAI’s application of Guidance Notes on specific accounting aspects.
- Share and Debentures Underwriting.
- Parties to notes, Bills, and Cheques, Presentment of Negotiable Instruments, Payment & Interest, and Noting & Protest.
- Financial Reporting of Insurance Companies and Mutual Funds and regulatory requirements thereof.
Conclusion
Therefore, ICAI updates the CA Intermediate syllabus as per the requirements and the new amendments. Hence, whenever there are any recent amendments to any new laws related to the course of CA Intermediate. Also, if any part of the syllabus needs to be cut down, ICAI does it and updates the new syllabus on the official site. So, the students must keep themselves updated with the latest syllabus as per the ICAI. Also, you can check the newly added and removed topics from the syllabus in the above blog.