CA final new course Vs old course

Sir, Elective paper means we have to selct one of the 4 available subjects. BUt what is this 40% open book system.. I didnt get this . 

Please make me understand by simple words.

Thank You

Yes sir, but i dont know what is Open book exam and how it has to be done .. how to prepare?

Please also advise whether to register for New CA final syllabus fromols. I had not started my coaching yet ... 

Thank you

conversion to new course is decision

These are the major distinctions between the syllabus of two courses:

FR - New course is more focused on Ind AS.

AUDIT - Syllabus is almost same except few topics like LLP etc.

LAW - In Company law, couple of chapters (Dividend, accounts & audit) have been removed. In allied laws, some Acts have been replaced.

ISCA - Subject has been replaced with an elective exam. Students have to chose among International Taxation, IFRS, Capital Markets etc. 

DT - The different section for chapters relating to International Taxation has been made which will be of around 30 marks.

IDT - No difference

Keep in mind, the last attempt for old course syllabus shall be Nov 2020 for CA Final. 

FOR SELF STUDY WHICH AUTHOR BOOKS ARE PREFERRED  FOR CA FINAL (NEW SYLLABUS )