CA Syllabus Change Pertaining to New Accounting Norm


In 2009, India make a commitment towards converging the International Financial Reporting Standards (IFRS) with the India Accounting standards at the G-20 summit. The new accounting rules having come into affect from 1st April,2016 are based on IFRS with some changed to suit the Indian needs. Over 100 countries require or permit to use IFRS. US and Japan don’t use IFRS presently.

The new accounting norm will not only change the way revenues, assets and liabilities are calculated but also commission more disclosures from companies on how certain figures were calculated. There is even a separate set of norms for taxation from the central board of direct taxes.

“After the IFRS, annual reports will look like a thick textbook,” says Leo Van Der Tas, Global Leader, IFRS Services, Ernst & Young Global Ltd.

Ind-AS focuses on three aspects – time value of money, fair value of assets/liabilities and disclosures. The aim is to make financial statements more transparent and minimise the possibility of manipulation. There are rules on consolidation and financial instruments as well.

This may have a positive or a negative impact on the net income and net worth of companies due to areas such as revenue recognition, financial instruments and taxes. Additionally, beyond accounting this would also have an impact on arrangements with customers, vendors, lenders, changes to IT system and internal control systems, said Sumit Seth,partner and IFRS Leader of Price Waterhouse.


So in an effort to bring Indian chartered accountants more in line with their global counterparts, the Institute of Chartered Accountants of India (ICAI) has kickstarted the process of restructuring its curriculum for the CA course.

Although the new syllabus was introduced this year the old syllabus also continues for the next five years, gradually shifting to the new syllabus. New CA syllabus is applicable to CPT, IPCC and Final also. In fact the name CPT has changed into CA Foundation.

CA Intermediate Changes includes:

  • Cost Accounting & Financial Management to be two different subjects from now.
  • Intermediate course duration increased from 9 to 12 months.
  • Information Technology & Strategic Management is removed.

CA Final Changes includes: 

  • Capital Markets & Financial Services subjects are introduced.
  • Information Systems & Control Audit is removed.
  • Completion of the full period of article ship is required to eligible for CA final.



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