CA Final Course is the final stage of the CA journey in India. After completing their 2.5 years of CA articleship, candidates become eligible to appear for CA final exams. Exams are held two times a year – in the month of May and November.
Students can appear for the final exams of the CA course after completing their 2.5 years of articleship. The exams are conducted twice, in May and November. Also, the last date for CA final registration is January 1st for the May attempt and July 1st for the November attempt. The CA final level is divided into two groups and consists of eight papers.
The First group’s Paper 1, which is CA Final Financial Reporting and Performance Evaluation or Budget Planning, is among those lucrative papers through which one can gain marks easily.
In the final exam of CA, you can get ranked by proper planning and by following certain things like solving sample papers, question papers, mock test papers, and model test papers. One should regularly master some important subjects like Budget Controls.
Furthermore, ICAI has released the CA final exam date for the Nov 2024 exams. The Exam dates are 1st, 3rd, and 5th for group 1 and 7th, 9th and 11th for group 2 exam. Along with the Exam date ICAI has also released the CA Final Exam form to know the full details click the link.
To prepare for CA final FR, one can download the material from the internet. From it, one can learn the syllabus, tips, and tricks related to CA Final P-1 exams 2024, and the chapter-wise weightage of marks.
The revised course’s new CA Financial Reporting students possess the updated and new syllabus. From the first group, Paper 1 is a major practical paper. The open book and optional paper is Paper 1. According to the reporting and analytical skills of the students, the evaluation of the elective paper is done.
Understand CA Final FR or Financial Reporting Paper 2024
The CA final course’s paper 1, as per the new scheme course, is the CA Final FR or Final Reporting Paper 2024. This paper is mainly classified into two main segments:-
CA Final Financial Reporting Paper 2024 covers Accounting Standards, Accounting Standards Interpretations, Accounting and Reporting of Financial Instruments, Applications of IFRS (International Financial Reporting Standards) and US GAAP, Financial Reporting by Mutual Funds, Accounting for Corporate Restructuring, Corporate Financial Reporting, Consolidated Financial Statements of Group Companies, Share-based payments, Non-banking finance companies, Merchant bankers, Stock and commodity market intermediaries, and Valuation.
The CA Final exam dates are out. According to the timetable, the FR paper will be conducted in May 2024
Why should you study CA Final FR or Financial Reporting Paper 2024?
This course’s syllabus can help a person understand the way to develop the model for pricing and how to perform budgetary controls. Also, every organization demands cost management to do certain evaluations and planning. This subject’s understanding helps CFO profiles synthesize, analyze, and test the factors and their costs. This subject can help in addressing the challenges.
CA Final FR or Financial Reporting Paper 2024
- Paper Pattern: Subjective
- Total Question Asked: 100
- Total Exam Duration: 3 Hours
- Maximum Marks Got: 100 Marks
- Total Question Asked: 6 out of which five need to be answered
CA Final Financial Reporting Paper and the Assessment of the Performance Evaluation Skills
While you answer the Financial Reporting Paper then, certain strict guidelines need to be followed. A list of verbs has been issued by the ICAI. From those verbs, if some question comes up, then it is mandatory that students answer as per the verb illustrations.
The verb list with certain illustrations is mentioned below:-
- Recommend– To recommend, one must first identify and explain all the reasonable options to evaluate, conclude, and then finally recommend.
- Evaluate—In evaluation, a balanced assessment is done, considering both the positive and negative aspects of any issue. It is important to emphasize in monetary and qualitative terms.
- Advise—One should build a good and comprehensive argument that leads to more owner choices to consider.
- Produce– You can begin with nothing or very little to generate something or bring it to existence.
- Prioritize– Sort out all the very important things in order to deal with them first. Here, one has to clarify about choosing each item in the priority list.
- Interpretation is the second stage of the analysis process. The translation must be coherent.
- Discuss—There is a need for an argument. Two different conflicting viewpoints must exist. Try to make any discussion end with an outcome.
- Construct– With the explicit reason, one should prepare. Between two or more things, one should use differences and similarities, as well as contrast and compare kinds of things.
- Categorize– Things sharing the same features should be put into groups, along with an explanation of why you have mentioned something in that particular group.
- Analyze—One should gather data or information to discover causes, patterns, connections, and relationships.
- Tabulate– In blocks or rows, the arrangement of numbers and facts is done.
- Solve– Use the suitable and most convenient technique to do the calculation. After that, process it and explain further.
- Reconcile– The reconciling statement is submitted after finding two opposed problem calculation results.
- Prepare– Firstly, all the relevant data is prepared, and then the rearrangement is done. After that, it is provided in a specific form.
- Demonstrate– By giving proof or showing something is the correct thing, and there is no chance of doubt in this.
- Calculate- One should mathematically reckon.
- Apply- The rules, concepts, facts, and ideas should be applied.
- Illustrate– For illustration, an example should be given.
- Identify– Only after the consideration one must recognize, then select or establish.
- Explain- One must provide information and describe it.
- Distinguish—In order to recognize two things’ differences, all their features must be listed, which sets them apart.
- Describe– One must describe what it actually is. It’s another step from the define, list, and state.
- Define– A person may use his own vocabulary or set of words to define.
- State– Mention what it is actually and convey what should be said in brief. If it’s not clear, then one should not explain further.
- List– Mention the no of each and provide a list. For clarity, all the points stated in the list should be in the complete sentence. On the basis of the analytical skill, reporting efficiency, and comprehensive knowledge each question is being assessed by the ICAI.To solve, there are almost 3 or 4 sections in each question.
ICAI CA Final Financial Reporting Paper 2024 Weightage
ICAI weights some particular chapters based on their level of difficulty and real-world implications. Students should plan and prepare by considering the weightage of topics for the exams.
| Chapter | Units | Weightage |
|---|---|---|
| Chapter 1-2 | Chapter 1: Framework for Preparation and Presentation of Financial Statements Chapter 2: Ind AS on Presentation of Items in the Financial Statements Unit 1: Ind AS 1: Presentation of Financial Statements Unit 2: Ind AS 34: Interim Financial Reporting Unit 3: Ind AS 7: Statement of Cash Flows | 10%-15% |
| Chapter 3 | Chapter 3: Ind AS on Liabilities of the Financial Statements Unit 1: Ind AS 19: Employee Benefits Unit 2: Ind AS 37: Provisions, Contingent Liabilities, and Contingent Assets | 15%-25% |
| Chapter 4-5 | Chapter 4: Ind AS on Items impacting the Financial Statements Unit 1: Ind AS 12: Income Taxes Unit 2: Ind AS 21: The Effects of Changes in Foreign Exchange Rates Chapter 5: Ind AS on Disclosures in the Financial Statements Unit 1: Ind AS 24: Related Party Disclosures Unit 2: Ind AS 33: Earnings Per Share Unit 3: Ind AS 108: Operating Segments | 15%-20% |
| Chapter 6-7 | Chapter 6: Business Combination and Corporate Restructuring Chapter 7: Consolidated Financial Statements Unit 1: Introduction to Consolidated Financial Statements Unit 2: Important Definitions Unit 3: Separate Financial Statements Unit 4: Consolidated Financial Statements Unit 5: Consolidated Financial Statements: Accounting of Subsidiaries Unit 6: Joint Arrangements Unit 7: Investment in Associates & Joint Ventures Unit 8: Disclosures Annexure | 10%-20% |
| Chapter 8 | Chapter 8: Accounting and Reporting of Financial Instruments Unit 1: Financial Instruments: Scope and Definitions Unit 2: Financial Instruments: Equity and Financial Liabilities Unit 3: Classification and Measurement of Financial Assets and Financial Liabilities Unit 4: Recognition and Derecognition of Financial Instruments Unit 5: Derivatives and Embedded Derivatives Unit 6: Disclosure Unit 7: Hedge Accounting Comprehensive Illustrations | 10%-20% |
| Chapter 9-11 | Chapter 9: Analysis of Financial Statements Chapter 10: Integrated Reporting Chapter 11: Corporate Social Responsibilities | 5%-10% |
CA Final FR or Financial Reporting Syllabus 2024
ICAI has revised the CA Final syllabus under the new scheme. Students can download the entire CA Final New Syllabus from here.
Syllabus Modules | Chapters |
Module-1 | |
| Chapter 1: Introduction to Indian Accounting Standards | |
| Chapter 2: Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) | |
Chapter 3: Ind AS on Presentation of Items in the Financial Statements
| |
Chapter 4: Ind AS on Measurement based on Accounting Policies
| |
| Chapter 5: Ind AS 115 “Revenue from Contracts with Customers” | |
Module-2 | |
Chapter 6: Ind AS on Assets of the Financial Statements
| |
Chapter 7: Other Indian Accounting Standards
| |
Module-3 | |
Chapter 8: Ind AS on Liabilities of the Financial Statements
| |
Chapter 9: Ind AS on Items impacting the Financial Statements
| |
Chapter 10: Ind AS on Disclosures in the Financial Statements
| |
Chapter 11: Accounting and Reporting of Financial Instruments
| |
Module-4 | |
| Chapter 12: Ind AS 103 “Business Combinations” | |
| Chapter 13: Consolidated and Separate Financial Statements of Group Entities | |
| Chapter 14: Ind AS 101 “First-time Adoption of Indian Accounting Standards” | |
| Chapter 15: Analysis of Financial Statements | |
| Chapter 16: Professional and Ethical Duty of a Chartered Accountant | |
| Chapter 17: Accounting and Technology |
Free download of the updated 2024 CA Final Financial Reporting Paper Syllabus for the newly revised course from here.
CA Final FR or Financial Reporting Study Material 2024
From the link provided by the Institute of Chartered Accountants of India, all subject material for CA Final FR 2024 can be downloaded by the students. All chapters’ main and basic content is included in the study material. We provide you with the CA final Paper 5 study material which is stated below. While you prepare for your exams, you can easily download it.
Free download of the updated Study Material of CA Final Financial Reporting Paper
CA Final FR Question Papers with Suggested Answers 2024
If a person practices all the final previous year’s question paper CA and answers it in a way expected by ICAI, then one can definitely score good marks. In this way, students can learn good answering and presenting skills for exams.
To download the CA Final question papers of the past attempts, students can click on this link.
CA Final FR Mock Test Papers 2024
The syllabus has been revised under ICAI’s new scheme. Students can easily download the CA Final Financial Reporting Paper and Performance Evaluation Mock Test Paper from the link provided below if they want to get the new syllabus.
Series-1 CA Final FR Revision Test Papers 2024
Under ICAI’s new scheme, almost 65% of the syllabus has been revised. The RTP for the final Financial Reporting Paper CA can be downloaded by students of both English and Hindi medium for the years 2018, 2019, 2020 and 2021.
- May 2022 – Hindi Medium
- May 2022
- November 2021 – Hindi Medium
- November 2021
- May 2021 – Hindi Medium
- May 2021
- November 2020 – Hindi Medium
- November 2020
CA Final FR 2024: Reference of Quick Revision
As per the new revised syllabus, the references for quick revision for Paper 1 are given by ICAI. Evaluation, understanding skills, and application are the things through which any question can be solved by the students. The ICAI’s prescribed answer pattern should be considered by the students with the whole syllabus. Accordingly, the student’s answers will be assessed. Whoever answers as per the desired format will be rewarded with some marks. Some ICAI-prescribed references for quick revision are provided below:-
Sample Questions for 30:70 Assessment – CA Final FR 2024
As per the new revised syllabus of the CA final Financial Reporting Paper, everything changed, like the syllabus, the case studies, the marketing pattern, and the assessment pattern. Sample Questions are available for 30:70 Assessment approved by ICAI are shared below:-
CA Final FR Pen Drive and Online Classes 2024
The study material covers almost all the chapters of the syllabus. Many students use the ICAI study material to understand topics properly. They also use notes and books that are available both offline and online.VSI provides CA Final pen drive classes in such an effective way that they cover almost all the study material. These classes are for both English and Hindi-medium students.
How to study For CA Final Financial Reporting Paper 2024?
To prepare for the CA Final Financial Reporting Paper 2024, one can get an idea of what to study by reviewing the frequently asked questions given below.
Should I self-study for the CA Final Financial Reporting paper or enroll in CA coaching classes?
If you are nicely prepared with the given syllabus, then you can definitely succeed. To get good results in the exam, comprehensive expert knowledge along with application and analytical skills are needed. Through self-study, one can build strong evaluation skills that are required to crack the final level.
If you are not satisfied with the self-study option, you can easily take the CA final coaching at VSI.
- VSI gives the outstanding Ca final results
- They have the highest and maximum number of rankers
- They have the highest number of toppers.
If you are still confused about which coaching to join then without making any delay, come and join the VSI coaching. You should not waste your precious time searching for the best teacher for the CA final or the best books to refer to, Instead of that, you can directly enrol in the VSI institute as here the best material is provided, which can help you a lot. We and our whole team wish you a bright future and success in exams. So keep yourself positive, fit, and healthy.
Related post: CA Final One Month Revision Strategy
FAQ’s
Q1.Which is the best coaching centre for the CA Final Examination?
A1. VSI Jaipur is the best coaching centre for the CA Final Examination for many reasons. VSI is giving the best results for the last 7 years. It also offers CA Final Online classes from very experienced & qualified teachers. VSI Jaipur is known for its best English and Hindi medium lecture classes separately.
Q2.How to score well in the CA Final Financial Reporting Paper 2024?
A2. You need to keep in mind some points before writing the exams-
- Practice manually on your study material provided by CIAI
- Manage your time for every question
- Prepare for good analytical skills.
- While you prepare for the exam, try to avoid a calculator unless you require it for long calculations.
- Try to focus more on the smaller chapters instead of holding on to the long chapters.
Q3.Is it necessary to write in the same serial order in the examination?
A3. No, it is not necessary to write in the same serial number of the question. But you need to mention the correct question number in your answer sheet.
Q4.Is it true that students who cleared their CA Exams on the first attempt get preference in the ICAI Campus placement?
A4. Yes, it is true that students who clear their CA exams on the first attempt have more chances of getting placed on the ICAI Campus. Besides this, the student’s performance and interview also matter a lot.