In this blog post you will get to know ICAI New Scheme Syllabus 2023. Here we cover all the changes and important information regarding ICAI New Scheme Syllabus. So read this complete post to learn more.
ICAI New Scheme Syllabus: A Closer Look
The Institute of Chartered Accountants of India (ICAI) has recently announced a new scheme syllabus for the Chartered Accountancy (CA) course. The new syllabus is designed to be more comprehensive and relevant to the needs of the modern workplace.
- Number of papers reduced: There will be a total of 12 papers in the new scheme, instead of the current 16.
- Papers merged: Some papers have been merged to make the syllabus more manageable. For example, Paper 1 and Paper 5 of the CA Intermediate course have been merged into a single paper called Advanced Accounting.
- Self-paced online module: A self-paced online module has been introduced to cover the topics of Economic Laws and Strategic Cost Management and Performance Evaluation. Students will be able to access the module at their own pace and complete it before they take the Final exam.
- New case studies: The new syllabus includes a number of new case studies to help students apply their knowledge to real-world scenarios.
- Revision of existing topics: Some of the existing topics in the syllabus have been revised to reflect the latest developments in the accounting profession.
The new syllabus also includes a number of other changes, such as the introduction of new case studies and the revision of some of the existing topics. These changes are designed to ensure that the CA course is up-to-date with the latest developments in the accounting profession.
The new ICAI syllabus is a significant change, but it is a change that is necessary to ensure that the CA course remains relevant and competitive in the global marketplace. The new syllabus will provide students with the knowledge and skills they need to succeed in the modern workplace, and it will help them to become chartered accountants who are truly global ready.
Note:
- The new syllabus is effective from June 1, 2023.
- Students who have already passed the Foundation or Intermediate exams under the old scheme will be allowed to continue with the old syllabus.
- Students who have not yet started their CA journey can opt to take the exams under the new syllabus.
Here are Some of the Key Benefits of the New ICAI Syllabus:
- It is more comprehensive and relevant to the needs of the modern workplace.
- It is more manageable for students, with a reduction in the number of papers at the Final level.
- It includes a self-paced online module, which allows students to learn at their own pace.
- It is up-to-date with the latest developments in the accounting profession.
If you are thinking about pursuing a career in accounting, the new ICAI syllabus is a great option. It will provide you with the knowledge and skills you need to succeed in the modern workplace, and it will help you to become a chartered accountant who is truly global ready.
Here are Some Tips for Preparing for the CA Exam Under the New Syllabus:
- Start early and give yourself plenty of time to study.
- Make sure you have a good understanding of the new syllabus.
- Take advantage of the self-paced online module.
- Join a study group or find a mentor who can help you prepare for the exam.
- Practice answering past exam questions.
The CA exam is a challenging but rewarding experience. With careful preparation, you can succeed in the exam and become a chartered accountant.
CA New Scheme 2023 Applicability
The ICAI new scheme 2023 is applicable for students who are appearing for the Foundation, Intermediate, or Final exams from May 2024 onwards. Students who have already passed the Foundation or Intermediate exams under the old scheme will be allowed to continue with the old syllabus.
Here is a table of the applicability of the ICAI new scheme 2023:
| Exam Level | Old Scheme | New Scheme |
|---|---|---|
| Foundation | May 2023 onwards | May 2024 onwards |
| Intermediate | November 2023 onwards | May 2024 onwards |
| Final | November 2024 onwards | May 2025 onwards |
The ICAI new scheme 2023 will be implemented from May 2024 onwards. This means that students who are appearing for the Foundation, Intermediate, or Final exams from May 2024 onwards will be required to follow the new syllabus.
Students who have already passed the Foundation or Intermediate exams under the old scheme will be allowed to continue with the old syllabus. However, if they wish to appear for the Final exam under the new scheme, they will be required to follow the new syllabus.
The new scheme is designed to make the CA course more comprehensive and relevant to the needs of the modern workplace. It also includes a number of changes to the curriculum, such as the reduction in the number of papers at the Final level and the introduction of a self-paced online module.
| Exam Level | Old Scheme | New Scheme |
|---|---|---|
| Foundation | May 2023 onwards | May 2024 onwards |
| Intermediate | November 2023 onwards | May 2024 onwards |
| Final | November 2024 onwards | May 2025 onwards |
Note:
- The new syllabus is effective from June 1, 2023.
- Students who have already passed the Foundation or Intermediate exams under the old scheme will be allowed to continue with the old syllabus.
- Students who have not yet started their CA journey can opt to take the exams under the new syllabus.
CA Final New Syllabus 2024
The ICAI new scheme 2023 for the CA Final exam has been introduced with a focus on making the course more comprehensive and relevant to the needs of the modern workplace. The new syllabus includes a number of changes, such as:
- Reduction in the number of papers: There are now only 6 papers in the CA Final exam, instead of the previous 8.
- Introduction of a new paper: A new paper called Integrated Business Solutions has been introduced to cover the topics of business analytics, data mining, and risk management.
- Revision of existing topics: Some of the existing topics in the syllabus have been revised to reflect the latest developments in the accounting profession.
- Introduction of new case studies: The new syllabus includes a number of new case studies to help students apply their knowledge to real-world scenarios.
The following are the 6 papers in the CA Final exam under the new scheme:
- FR – Financial Reporting
- M – Management
- CS – Corporate and Strategic Management
- ID – Integrated Business Solutions
- DT – Taxation
- DI – Data Interpretation and Decision Making
The new syllabus is effective from June 1, 2023. Students who have already passed the Intermediate exam under the old scheme will be allowed to continue with the old syllabus. However, if they wish to appear for the Final exam under the new scheme, they will be required to follow the new syllabus.
The ICAI has also announced that the first attempt of the Final exam under the new course structure will be held in May 2025.
For more information on the new syllabus, please visit the ICAI website.
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CA New Scheme 2023 Direct Entry
The ICAI new scheme 2023 allows students to register for the CA Intermediate course through the direct entry route. This route is available to students who meet the following eligibility criteria:
- Graduates/ Post Graduates in Commerce: Students who have graduated with a minimum of 55% marks in Commerce or any other equivalent qualification from a recognized university.
- Non-commerce Graduates/ Post Graduates: Students who have graduated with a minimum of 60% marks in any other discipline from a recognized university.
- Students who have passed the Intermediate level of the Institute of Company Secretaries of India or Institute of Cost Accountants of India: Students who have passed the Intermediate level of the Institute of Company Secretaries of India (ICSI) or Institute of Cost Accountants of India (ICMAI) are also eligible to register for the CA Intermediate course through the direct entry route.
Students who are eligible for the direct entry route must complete the following steps to register for the CA Intermediate course:
- Apply for registration: Students must apply for registration with the ICAI. The application form can be downloaded from the ICAI website.
- Pay the registration fees: Students must pay the registration fees as prescribed by the ICAI.
- Submit the application form: Students must submit the application form along with the required documents to the ICAI.
- Complete the Orientation Program and Information Technology (ICITSS): Students must complete the ICITSS before they can start their articleship. The ICITSS is a 4-week program that covers the basics of accounting, auditing, and taxation.
- Register for articleship: Students must register for articleship with a practicing chartered accountant. The articleship period is for 3 years.
- Appear for the CA Intermediate exam: Students must appear for the CA Intermediate exam after completing their articleship.
The direct entry route is a great option for students who want to fast-track their journey to becoming a chartered accountant. However, it is important to note that the competition for seats in the CA Intermediate course is very high.
Students who are considering the direct entry route should make sure that they have a strong academic background and are prepared to put in the hard work required to succeed.