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.
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.
This is what I have seen so far in new syllabus, if anybody has seen anything new which is not included above then please share.