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Difference in syllabus

Vidya Suresh (Article ) (38 Points)

19 April 2010

Pls tell me what is difference between old CA final syallbus & new. What are name of old subject & are incorporate under what name in new syllabu. For which subject coaching is necessary.

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Sushil (CA Final Student) (2571 Points)
Replied 19 April 2010

CA Final - Old v/s New Syllabus

In CA Final New Syllabus, major changes has occurred in Accountancy subject, ICAI has changed the name of most of the subject and that to contents also. Institute is focusing on the current industry requirement at global level and making India CAs globally competent and successful.

1. Financial Reporting (Erstwhile A/cs,), covers 75-80% of subject of AS & IFRS. In old syllabus there is no IFRS.

2. Strategic Financial Management (Earlier MAFA), now majorly deals with the stock market and capital market focusing on the current industry requirement and making the Indian CAs to be globally competent.

3. Advanced Auditing & Assurance Standards (Earlier Advanced Auditing), now focuses on New SAs (Standards on Auditng), Institute has also updated this subject with SOX Audit

4. Company Law & Allied Laws (Earlier CLSP), now covers new acts, Banking Regulation Act, IRDA Act, Insurance Act. These industries are the booming industry in the current era.

5. Advanced Management Accounting (Earlier Cost Management), now majorly deals with management accounting parts and institute has taken few things from CIMA syllabus, OR has also been given good focus as its very important tool which is used in Industry.

6. ISCA (Earlier MICS), have not seen major changes in this subject. Few topics like System Development and Implementation and System audit has been updated with CISA syllabus.

7. DT, have not seen this subject yet…….I don’t think there will be any major changes.

8. IDT, has updated with VAT and more no. of services has been included under Service Tax.

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Sushil (CA Final Student) (2571 Points)
Replied 19 April 2010

Coaching depends on your SWOT analysis, but as per my understanding one may need coaching for Financial Reporting, SFM, Costing & DT.

Theory paper does not require any coaching.

Meena Singh (Article,CA Final) (34 Points)
Replied 19 April 2010

thanx sushil 4 understanding d differences

can u plz tell me wat is dis IFRS in financial reporting

Sushil (CA Final Student) (2571 Points)
Replied 19 April 2010

IFRS - International Financial Reporting Standard

Like our country is having Indian Accounting Standard (AS) which is applicable to all the companies registered under the Companies Act, 1956. IFRS is globally accepted Standard.

Indian Companies will converge to IFRS from 1st April, 2011.