CA Inter Group 1 Subjects- Commerce Buddies

ICAI (Institute of Chartered Accountants of India) has released the new CA Inter group 1 subjects for 2024 syllabus for the May 2024 exams under the new ICAI pattern. Candidates can see the new and updated CA Inter Syllabus PDF from here. The new CA Intermediate Course includes six subjects, which are further divided into two groups, namely Group 1 & Group 2.

For Complete Knowledge Of CA Inter New Syllabus: Click Here

Subjects in CA Inter Group 1

CA Intermediate Group 1 consists of 3 Papers. Each of these papers carries a weight of 100 marks.

1: Advance Accounting

2: Corporate Laws

3: Taxation

  • Section A: Income-tax Law
  • Section B: Goods and Services

Paper 1 : Advance Accounting

Advance Accounting is a very important paper in the CA Intermediate Syllabus, considered part of Group 1. In this subject, students learn advanced concepts and techniques related to financial accounting.

No. Of Modules

                        Total Chapters

Module 1

1st Chapter: Introduction to Accounting Standards
2nd Chapter: Framework for Preparation and Presentation of Financial Statements
3rd Chapter: Applicability of Accounting Standards
4th Chapter: Presentation & Disclosures Based Accounting Standards

  • Unit 1: Accounting Standard 1 Disclosure of Accounting Policies
  • Unit 2: Accounting Standard 3 Cash Flow Statement
  • Unit 3: Accounting Standard 17 Segment Reporting
  • Unit 4: Accounting Standard 18 Related Party Disclosures
  • Unit 5: Accounting Standard 20 Earnings Per Share
  • Unit 6: Accounting Standard 24 Discontinuing Operations
  • Unit 7: Accounting Standard 25 Interim Financial Reporting

Module 2

5th Chapter: Assets Based Accounting Standards

  • Unit 1: Accounting Standard 2 Valuation of Inventory
  • Unit 2: Accounting Standard 10 Property, Plant and Equipment
  • Unit 3: Accounting Standard 13 Accounting for Investments
  • Unit 4: Accounting Standard 16 Borrowing Costs
  • Unit 5: Accounting Standard 19 Leases
  • Unit 6: Accounting Standard 26 Intangible Assets
  • Unit 7: Accounting Standard 28 Impairment of Assets
6th Chapter: Liabilities Based Accounting Standards

  • Unit 1: Accounting Standard 15 Employee Benefits
  • Unit 2: AS 29 (Revised) Provisions, Contingent Liabilities and Contingent Assets
7th Chapter: Accounting Standards Based on Items Impacting Financial Statement

  • Unit 1: Accounting Standard 4 Contingencies and Events occurring after the Balance Sheet Date
  • Unit 2: Accounting Standard 5 Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
  • Unit 3: Accounting Standard 11 The Effects of Changes in Foreign Exchange Rates
  • Unit 4: Accounting Standard 22 Accounting for Taxes on Income
8th Chapter: Revenue Based Accounting Standards

  • Unit 1: Accounting Standard 7 Construction Contracts
  • Unit 2: Accounting Standard 9 Revenue Recognition
9th Chapter: Other Accounting Standards

  • Unit 1: Accounting Standard 12 Accounting for Government Grants
  • Unit 2: Accounting Standard 14 Accounting for Amalgamations
10th Chapter: Accounting Standards for Consolidated Financial Statement

  • Unit 1: Accounting Standard 21 Consolidated Financial Statements
  • Unit 2: Accounting Standard 23 Accounting for Investments in Associates in Consolidated Financial Statements
  • Unit 3: Accounting Standard 27 Financial Reporting of Interests in Joint Ventures

Module 3

11th Chapter: Financial Statements of Companies

  • Unit 1: Preparation of Financial Statements
  • Unit 2: Cash Flow Statement
12th Chapter: Buyback of Securities
13th Chapter: Amalgamation of Companies
14th Chapter: Accounting for Reconstruction of Companies
15th Chapter: Accounting for Branches including Foreign Branches

 

Paper 2: Corporate Laws

Corporate Laws in the CA Intermediate Syllabus is a core subject that provides a solid understanding of the legal framework governing businesses and corporations. Covered under Group 1 of the CA Intermediate programme, this subject (Paper 2) provides students with knowledge of the various laws and regulations affecting corporate entities.

PART I – COMPANY LAW AND LIMITED LIABILITY PARTNERSHIP LAW

Students here develop an understanding of company law provisions. In addition, they learn how to deal with application-oriented issues.

PART II – OTHER LAWS

To make the students understand the provisions of the chosen law and learn to address the issues based on the application. Students will also understand the rules for the interpretation of values.

No. Of Modules

                      Total Chapters

Module 1

Chapter 1: Preliminary
Chapter 2: Incorporation of Company and Matters Incidental Thereto
Chapter 3: Prospectus and Allotment of Securities
Chapter 4: Share Capital and Debentures
Chapter 5: Acceptance of Deposits by Companies
Chapter 6: Registration of Charges

Module 2

Chapter 7: Management & Administration
Chapter 8: Declaration and Payment of Dividend
Chapter 9: Accounts of Companies
Chapter 10: Audit and Auditors
Chapter 11: Companies Incorporated Outside India

Module 3

Chapter 12: The Limited Liability Partnership Act, 2008
Module 3 (Part II – Other Laws) Chapter 1: The General Clauses Act, 1897
Chapter 2: Interpretation of Statutes
Chapter 3: The Foreign Exchange Management Act, 1999

 

Paper 3: Taxation

It provides students with a thorough understanding of all applicable tax laws and regulations in India, covering topics such as income tax, goods and services tax (GST), and other relevant tax laws.

Section A: Income Tax Law (50 Marks)

No. Of Modules

                          Total Chapters

Module 1

SECTION I

1st Chapter: Basic Concepts

2nd Chapter: Residence and Scope of Total Income

SECTION II

3rd Chapter: Heads of Income

  • Unit 1: Salaries
  • Unit 2: Income from House Property
  • Unit 3: Profits and Gains of Business or Profession
  • Unit 4: Capital Gains
  • Unit 5: Income from Other Sources

Module 2

SECTION III

4th Chapter: Income of Other Persons included in Assessee’s Total Income

5th Chapter: Aggregation of Income, Set-Off and Carry Forward of Losses

6th Chapter: Deductions from Gross Total Income

SECTION IV

7th Chapter: Advance Tax, Tax Deduction at Source and Tax Collection at Source

8th Chapter: Provisions for filing Return of Income and Self Assessment

SECTION V

9th Chapter: Income Tax Liability – Computation and Optimisation

 

Section B: Goods and Service Tax (50 Marks)

No. Of Modules

                    Total Chapters

Modules 1

Chapter 1: GST in India – An Introduction
Chapter 2: Supply under GST
Chapter 3: Charge of GST
Chapter 4: Place of Supply
Chapter 5: Exemptions from GST
Chapter 6: Time of Supply
Chapter 7: Value of Supply

Module 2

Chapter 8: Input Tax Credit
Chapter 9: Registration
Chapter 10: Tax Invoice; Credit and Debit Notes
Chapter 11: Accounts and Records
Chapter 12: E-Way Bill
Chapter 13: Payment of Tax
Chapter 14: Tax Deduction at Source and Collection of Tax at Source
Chapter 15: Returns

 

Eligibility Criteria for CA Intermediate Group 1 

A candidate who wants to register for the CA Inter Group 1 subjects exam must fulfill the following qualifications:

  • Candidates who have passed the Foundation Examination can apply for CA Intermediate
  • Candidates who are graduates or post-graduates in commerce and have secured minimum marks of 55% can also apply.
  • Candidates who are graduates or post-graduates in any other stream and have secured minimum marks of 60% can also apply.

Important Dates For CA Inter Registration

CA Inter Exam Last Date Of Registration
May 2024 Jan 1, 2024
November 2024 July 1, 2024

Conclusion

In this article, we provide you all the updated details of CA Inter Group 1 subjects New Syllabus May 2024 and CA Intermediate topics of May 2024 CA intermediate exam.

The CA Intermediate Exam consists of 6 papers divided into 2 groups. In Group 1, there are 3 papers named: Advance Accounting (Paper 1), Corporate Law (Paper 2), and Taxation (Paper 3). And in Group 2, again, there are 3 papers named: Cost and Management Accounting (Paper 4), Auditing and Code of Ethics (Paper 5), and Financial Management and Strategic Management (Paper 6). Each paper is worth 100 marks, resulting in 600 marks for the entire exam. And this Exam will be conducted by ICAI.

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