ICAI released Important Update for CA May Exams 2022

The Institute of Chartered Accountants of India (ICAI) has released Applicable Study Material for the CA Exams in May 2022 under the New Scheme for Foundation, Intermediate, and Final Course.

The foundation course under New Scheme will include:

Paper 1: Principles and Practices of Accounting (Module 1 and Module II);

Paper 2: Business Law & Business Correspondence and Reporting;

Section A: Business Law

Section B: Business Correspondence and Reporting

Paper 3: Business Mathematics and Logical Reasoning & Statistics;

Paper4: Business Economics & Business and Commercial Knowledge, which will be divided into two sections: Part 1: Business Economics and Part2: Business and Commercial Knowledge.

Intermediate course under the New Scheme covers

Accounting SM (Modules 1, 2, and 3); Accounting Pronouncement;

Corporate and Other Laws SM Part I and II (Modules 1 & 2);

Cost and Management Accounting SM (Modules 1 and 2);

Taxation Section A: Income tax Law – SM (Module 1, 2 and 3) & Section B: Indirect Taxes – SM Module 1 and 2;

Advanced Accounting SM (Module 1, 2 and 3); Accounting Pronouncement –

Auditing and Assurance SM – Module 1 and 2; Auditing Pronouncement –

Enterprises Information Sys. SM;

Strategic Management- Section A: Financial Management – SM Module 1 and 2 & Section B: Economics for Fin.SM

The Final course under New Scheme will include:

Paper 1: Financial Reporting (Module 1, 2, 3 and 4),

Paper 2: Strategic Financial Management,

Paper 3: Advanced Auditing, and Professional Ethics (Module 1, 2 and 3),

Paper 4: Corporate and Economic Laws Part I: Corporate Laws (Module 1 & 2) Part II: Economic Laws (Module 3),

Paper 5: Strategic Cost Management and Performance Evaluation (Module 1, 2 and 3),

Paper 6 will be an elective paper,

Paper 7: Direct Tax Laws & International Taxation Part I: Direct Tax Laws Part II: International Taxation (Module 1, 2, 3 and 4),

Paper 8: Indirect Tax Laws Part I: Goods and Services Tax Part II: Customs & FTP (Module 1, 2, 3 and 4)

PDF is attached for your Complete Reference of Edition Applicable for May 2022 Exam.