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CA Final Paper 1 Financial Reporting Syllabus

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PAPER – 1: Financial Reporting

(One paper – Three hours – 100 Marks)

Objectives:

(a)  To acquire the ability to integrate and solve problems in practical scenarios on Accounting Standards, Guidance Notes and Indian Accounting Standards for deciding the appropriate accounting treatment and formulating suitable accounting policies.

(b)   To develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions, and apply such knowledge in problem solving.

Contents:

1.  Application of Existing Accounting Standards 15, 21, 23, 25, 27 and 28. (The students will also be required to apply other Accounting Standards if applicable in any of the questions).

2.  Application of Guidance Notes issued by ICAI on specified accounting aspects.

3.  Framework for Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards (Ind AS).

4.  Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements

5.  Consolidated and Separate Financial Statements (as per Ind AS)

6.  Application of Industry specific and Transaction Specific Indian Accounting Standards (other than Business Combination, Financial Instruments and Share Based Payment)

7.  Business Combinations and Accounting for Corporate Restructuring (including demerger)

(as per Ind AS)

8.   Accounting and Reporting of Financial Instruments (as per Ind AS)

9.    Accounting for Share Based Payment (as per Ind AS)

10.    Analysis of Financial Statements Common defects in financial statements of corporate entities

11.    Accounting for Carbon Credits

12.    Accounting for E-commerce

13.  Emerging trends in Reporting

(i)     Integrated Reporting

(ii)     Corporate Social Responsibility Reporting

(iii)     Human Resource Reporting

(iv)    Value Added Statement

Notes:

1.  If either a new Indian Accounting Standard (Ind AS) or Accounting Standard (AS) or Announcements and Limited Revisions to Ind AS / AS are issued or the earlier one are withdrawn or new Ind AS / AS, Announcements and Limited Revisions to Ind AS / AS are issued in place of existing Ind AS / AS, Announcements and Limited Revisions to Ind AS / AS, the syllabus will accordingly include / exclude such new developments in the place of the existing ones with effect from the date to be notified by the Institute.

2.  The specific inclusions/exclusions in any topic covered in the syllabus will be effected every year by way of Study Guidelines. The list of Guidance Notes in Accounting and significant Expert Advisory Opinions, wherever applicable, will also form part of the Study Guidelines.

Related Syllabus

CA Final Paper 2 Strategic Financial Management

CA Final Paper 3 Advanced Auditing And Professional Ethics

CA Final Paper 4 Corporate And Economic Laws Syllabus