Crack CA Intermediate with Unacademy

CA Intermediate Exam Preparation as per New Scheme 2024

What is CA Intermediate?

CA Intermediate Exam Preparation 2024

Chartered Accountants are experts in practically every aspect of finance, including Taxation, Auditing, and Business Economics. The function of a chartered accountant has become more intensive and complex in the current context, with the impact of GST, demonetization, and a slew of other regulatory actions affecting the average man.

If you are keen on appearing for the CA Intermediate Exam, you will have to clear the foundation course first and only then can you proceed to the CA Intermediate level. However, if you have already graduated and are planning to appear for CA Exams, you will get a direct entry to the CA Intermediate level. You can choose any of the two options, but if you go with the first one, you will easily be able to complete your CA course along with your graduation degree.

If you are taking the Foundation Exam Route to reach the CA Intermediate level, you will have to fulfill the eligibility criteria listed below:

• You will only be able to register for the CA Intermediate Exam only if you have passed the ICAI CA Foundation Level. Without taking the exam, you cannot reach the CA Intermediate level if you are taking the Foundation Exam route.
• You must get at least 40% marks in all subjects and an Aggregate of 50% marks.

If you want to take up the Direct Entry Route, you will have to meet the following eligibility criteria:

• If you are applying through the direct entry route, you must have at least 55% marks in your Graduation and Post-Graduation in the Commerce stream. If you are from any other stream, you will have to meet a different eligibility criterion to enroll for the CA Intermediate course.
• Suppose you have completed the ICSI (Institute of Company Secretaries of India) or ICWAI (Institute of Cost Accountants of India) Foundation and Intermediate levels. In that case, you will become eligible to apply for this particular program.
• Suppose you plan to sit for the CA Intermediate Exams and have not done your Graduation or Post-Graduation with Commerce stream. In that case, you will have to obtain a cumulative score of 60% in your most recent assessment if you want to appear for the CA Intermediate Exams.

For students in their Final Year of studies, provisional registration is offered. However, you can begin your Articleship only after submitting adequate confirmation to the ICAI that you have completed your graduation with the required percentage.

CA Intermediate Exam Syllabus

You must know the syllabus of the CA Intermediate Exam before you start with your CA Intermediate preparations. The syllabus of the CA Intermediate Exam is quite elaborate, and therefore, you need to know every aspect of the exam. The CA Intermediate Exam is divided into Group 1 and Group 2.

The subjects included in Group 1 are as follows:

• Advanced Accounting
• Corporate and Other Laws
• Taxation

The subjects that are a part of Group 2 are as follows:

• Cost and Management Accounting
• Auditing and Ethics
• Financial Management and Strategic Management

All the subjects listed above are mandatory papers, and you will have to pass these subjects if you want to pass the CA Intermediate Exams. Let’s have a look at the duration and the weightage of the papers:

SUBJECTS & SYLLABUS

PAPER 1: ADVANCED ACCOUNTING

Listed below are the topics that you need to cover for this paper:

• Process of formulation of Accounting Standards including Indian Accounting Standards (IFR converged standards) and IFRSs; Convergence vs Adoption; Objective and Concepts of carve-outs.
• Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
• Applicability of Accounting Standards to various entities
• Application of Accounting Standards:
• Company Accounts
• Accounting for Branches including foreign branches

PAPER 2: CORPORATE AND OTHER LAWS

PART I - CORPORATE LAWS

• The Companies Act, 2013: including important rules and drafting of notices, resolutions, etc.–
• Incorporation of Company and Matters Incidental thereto
• Prospectus and Allotment of Securities
• Share Capital and Debentures
• Acceptance of Deposits by Companies
• Registration of Charges
• Management and Administration
• Declaration and Payment of Dividend
• Accounts of Companies
• Audit and Auditors
• Companies Incorporated Outside India
• The Limited Liability Partnership Act, 2008 includes important Rules

PART II - OTHER LAWS

• The General Clauses Act, 1897:
• Interpretation of Statutes
• The Foreign Exchange Management Act, 1999

PAPER 3: TAXATION

• SECTION A: INCOME TAX LAW
• Basic Concept.
• Residential status and scope of total income.
• Heads of income and the provisions governing the computation of income under different heads.
• Provisions relating to clubbing of income, set-off or carry forward and set-off of losses, deductions from gross total income.
• Advance Tax, Tax deduction at source, and tax collection at source.
• Provisions for filing returns of income and self-assessment.
• Computation of total income and income tax payable by an individual under the alternative tax regimes under the Income-tax Act, 1961 to optimize tax liability.
• SECTION B: GOODS AND SERVICES TAX (GST)
• Levy and collection of CGST and IGST:
  • Application of CGST/IGST law
  • Concept of supply including composite and mixed supplies
  • Charge of tax including reverse charge
  • Exemption from tax
  • Composition levy
• Basic concepts of
  • Classification
  • Place of supply
  • Time of supply
  • Value of supply
  • Input tax credit
• Computation of GST liability
• Registration
• Tax invoice; Credit and Debit Notes; Electronic way bill
• Accounts and Records
• Returns
• Payment of tax

PAPER 4: COST AND MANAGEMENT ACCOUNTING

• Overview of Cost and Management Accounting:
  • Introduction to Cost and Management Accounting
  • Elements of Cost and Preparation of Cost Sheets
• Ascertainment of Cost and Cost Accounting System:
  • Material Cost
  • Employee Cost
  • Direct Expenses
  • Overheads
  • Concepts of Activity-Based Costing (ABC)
  • Integration of cost and financial data
• Methods of Costing:
  • Single Output/ Unit Costing
  • Job Costing
  • Batch Costing
  • Process/ Operation Costing
  • Costing of Service Sectors
    
    
• Cost Control and Analysis:
  • Standard Costing
  • Marginal Costing
  • Budget and Budgetary Control

PAPER 5: AUDITING AND ETHICS

• Nature, Objective, and Scope of Audit
• Audit Strategy, Audit Planning, and Audit Program
• Risk Assessment and Internal Control
• Audit Evidence
• Audit of Items of Financial Statements
• Audit Documentation
• Completion and Review
• Audit Report
• Special Features of Audit of Different Types of Entities
• Audit of Banks
• Ethics and Terms of Audit Engagements

PAPER 6: FINANCIAL MANAGEMENT AND STRATEGIC MANAGEMENT

• SECTION A: FINANCIAL MANAGEMENT
• Financial Management and Financial Analysis:
  • Introduction to Financial Management Function
  • Financial Analysis through Ratios
• Financing Decisions and Cost of Capital:
  • Sources of Finance
  • Cost of Capital
  • Capital Structure Decisions
  • Leverages
• Capital Investment and Dividend Decisions:
  • Capital Investment Decisions
  • Dividend Decisions
  • Management of Working Capital
• SECTION B: STRATEGIC MANAGEMENT
• Introduction to Strategic Management
• Strategic Analysis: External Environment
• Strategic Analysis: Internal Environment
• Strategic Choices
• Strategy Implementation and Evaluation

NOTE: Some papers are divided into two sections. For example, The Corporate and Other Laws paper is divided into Corporate Laws and Other Laws. The weightage of Corporate Laws is about 70 marks, and the weightage allotted to other laws is 30 marks. 

Therefore, you should have a preparation strategy keeping the weights in mind. You should take references from the material available on Unacademy and then start preparing for your CA Intermediate Exams.

Tips and Tricks to crack CA Intermediate

Free Study Materials for CA Intermediate Exam Preparation

Unacademy also offers you a bunch of expert-level preparation material free of cost. There are several videos by some of the best CA experts in the country on the platform that you can access for free. If you like the content, you can even upgrade your account to get unlimited access to some of the best-paid content for the CA Intermediate Exam. Multiple resources on Unacademy will guide you and help you put your knowledge to the test so that you know where you stand in terms of your CA Intermediate preparation.

How to Kickstart Your CA Intermediate Exam Preparation: A Roadmap for Acing CA Intermediate Examination

There are several ways in which you can kickstart your CA Intermediate preparation. Some of the best ways to start with your CA Intermediate preparation are listed below. The following advice will help you get started on your CA Foundation exam preparation:

• Know the Syllabus: Have a firm understanding of the CA Intermediate syllabus. Now, there are six papers, one should do extra research on their own to determine whether there have been any additions or deletions to the curriculum’s listed topics (This advice is relevant for old syllabus learners too, who are now opting for new syllabus).
  
  
• Start Early: Candidates should start their preparations now that the CA Intermediate exam syllabus has been made public by ICAI. You’ll have plenty of time to review and practice later if you get started early. Start early with Unacademy CA Intermediate New Syllabus batches.
• Consult the Correct Books and Study Guides: Study guides for the CA Intermediate are available on the ICAI website. It can be consulted by candidates as they are readily available on the ICAI website. Candidates can also prepare well for the CA Intermediate test by reading reputable books of our Top Educators.
• Mock Test: To improve performance on test day, prepare with real-looking mock tests by enrolling in Unacademy batches and get the benefit of monthly Evaluated Test Series in our batches. Additionally, candidates can attempt to pass mock tests for the CA Intermediate on the ICAI’s website.

FAQs

1. Can I take the CA Intermediate Exam without appearing for the CA Foundation Exam?

Yes, you can appear for the CA Intermediate Exam without appearing for the CA Foundation Exam if you have completed your graduation or post-graduation in any stream.

2. Can a non-Commerce student appear for the CA Intermediate Exam?

Yes, a Learner coming from a non-Commerce background can appear for the CA Intermediate Exam if the Learner has secured over 60% marks in the latest graduation or post-graduation exam that the student has been a part of.

3. Is it mandatory to do an articleship after passing the CA Intermediate Exam?

Yes, you must do a 2-year articleship in any company or firm once you pass the CA Intermediate Exam.

4. Where can I find some of the best material for my CA Intermediate preparation?

Unacademy is the best source for CA preparation material. You will have access to many free resources that will help you with your CA Intermediate Exam. There are video classes from several experts. They will help you out with some of the best tips and tricks that will help you clear the CA Intermediate Exam.

5. When do the students register for the CA Intermediate Exam in May 2024 and November 2024?

The last date to register for the CA Intermediate May 2024 exams is January 1, 2024, and the November 2024 exams is July 1, 2024.