ICAI’s New Scheme of Education and Training 2023 – Course Stages, Registration, Examination Criteria, and Subject Details

Details

Note: Direct Entry students are exempted from appearing in CA Foundation Examination and they can register for Intermediate Course directly.

Intermediate Course covers working knowledge of core and allied subjects to accountancy profession.

The subjects of Intermediate Course are classified into two groups (3 papers in each group) which a student can study and appear in the examination group-wise or both the groups together.

This practical training is instrumental in shaping a well-rounded professional to ensure that students have an opportunity to acquire on-the-job work experience of a professional nature.

Note: A student can also undergo Industrial Training for a period of 9 months to 12 months, permitted during the last part of 2 years Practical Training.

Final Course covers inculcation of advanced application knowledge of core and allied subjects to accountancy profession.

The subjects of Final Course are classified into two groups (3 papers in each group) which a student can study and appear in the examination group-wise or both the groups together.

Registration Eligibility Criteria

I. Through CA Foundation Course i.e. on clearing CA Foundation examination successfully.

II. Through Direct Entry i.e. exempted from passing Foundation Course and directly registering for Intermediate Course. Such candidates can include:

(a) Commerce stream graduates or post graduates with minimum 55% marks;

(b) Other stream graduates or post graduates with minimum 60% marks;

(c) Candidates who have passed the Intermediate level of the Institute of Companies Secretaries of India (ICSI) or the Institute of Cost Accountants of India (ICMAI).

Note: Students who are pursuing the final year of Graduation Course can also register for the Intermediate Course on a provisional basis; and they must submit the proof of having passed the Graduation examination with the specified percentage of marks within six months from the date of appearance in the final year Graduation examination.

Registration Timeline

As a minimum of 8 months study period from the date of registration is required to be completed in order to be eligible to appear in the Intermediate Examination, students must register for Intermediate Course on or before the following dates:

i) registered before the required date;

ii) appeared in the Class XII exams; and

iii) paid the examination fees.

i) registered for the Intermediate Course before the required date;

ii) fulfilled the direct entry requirement (e.g. minimum marks);

iii) paid the examination fees.

i) registered for Final course on qualifying both groups of Intermediate examination;

ii) completed AICITSS;

iii) completed Practical Training six months before the first day of the month in which the examination is to be held;

iv) qualified all the 4 Self-paced Online Modules; and

v) paid the examination fees.

(4 Papers)

Paper 2: Business Laws

Paper 3: Quantitative Aptitude

• Business Mathematics
• Logical reasoning
• Statistics

Paper 4: Business Economics

100 Marks

100 Marks

100 Marks

Total: 400 marks

(2 Groups of 3 Papers each)

Paper 1: Advanced Accounting

Paper 2: Corporate and Other Laws

Paper 3: Taxation

Section A – Income-tax Law

Section B –  Indirect taxes

Group 2

Paper 4: Cost and Management Accounting

Paper 5: Auditing and Ethics

Paper 6A: Financial Management

Paper 6B: Strategic Management

100 Marks

100 Marks

50 Marks

50 Marks

Total: 300 marks

100 Marks

100 Marks

50 Marks

50 Marks

Total: 300 Marks

Corporate & Economic Laws

Set B

Strategic Cost and Performance Management

Set C – Choose Any One

1. Risk Management
2. Sustainability Development and Sustainability Reporting
3. Public Finance and Government Accounting
4. The Insolvency & Bankruptcy Code, 2016
5. International Taxation
6. The Arbitration and Conciliation Act, 1996
7. Forensic Accounting
8. Valuation
9. Financial Services and Capital Markets
10. Forex and Treasury Management

Set D – Choose Any One

1. The Constitution of India & Art of Advocacy
2. Psychology & Philosophy
3. Entrepreneurship & Start-up Ecosystem
4. Digital Ecosystem & Controls

(2 Groups of 3 Papers each)

Paper 1: Financial Reporting

Paper 2: Advanced Financial Management

Paper 3: Advanced Auditing, Assurance and Professional Ethics

Group 2

Paper 4: Direct Tax Laws and International Taxation

Paper 5: Indirect Tax Laws

Paper 6: Integrated Business Solutions

(Multi-disciplinary case study with Strategic Management – Open-book examinaton)

Note: There shall be an additional emphasis on Ethics and Information Technology and will be integrated with curriculum of all subjects at Final level.

100 Marks

100 Marks

100 Marks

Total: 300 Marks

100 Marks

100 Marks

100 Marks

Total: 300 Marks

Exemption: If a student secures 60% or more in Paper/s in one attempt, he/she may be exempted from that Paper/s and treated as passed in that Paper/s for next 3 attempts. The exemption can be availed further (after 3 attempts) subject to scoring 50% passing marks in the remaining paper/s individually (instead of 40% marks in individual paper and 50% marks in aggregate).

In case the student finds difficult to obtain 50% in each of the remaining paper/s individually, he/she may opt to surrender the exemption after three attempts.