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Topic-wise weightage of CA Final July 2021

Topic-wise weightage of CA Final July 2021

In this CA Final July 2021 Exams blog, we are going to reveal all the details about the Exam papers. We are incorporating chapter-wise or topic-wise details of each subject with marks distribution according to the ICAI CA Final July 2021 Exams. This can be helpful in planning the studies for upcoming CA Final Exams.

 

Detailed of CA Final- Financial Reporting

Financial Reporting was the first paper of CA Final, so in this paper, most of the questions came from the ICAI study material and, some were also new. It was an easy but lengthy paper. Most of the students couldn’t complete it due to the length.

 

For more details, check the below table.

Question no.

Marks

Topic

Remarks

1(A)

16

Chain holding

The question is from past papers

(B)

4

Ind AS 1

Easy question to classify current and non-current assets

 

 

 

 

2(A)

8

Ind AS 16 & 40

This question is from study material and MTP and past paper. The question is on the revaluation of property

(B)

12

Ind AS 115 (Allocation of transaction price )

This is a straightforward question from study material

 

 

 

 

3(A)

9

Ind AS41 (Agriculture )

The question is from the study material.

(B)

6

Ind AS 36

The question is from the study material. Question is to find out impairment loss.

(C)

5

Ind AS 21 and 2

The question is from study material and RTP Nov 2019. Required to show impact on CFS i.e slightly involve Ind AS 110

 

 

 

 

4(A)

14

Ind AS 109 (Employee loan at the concessional rate)

Same question from study material and Jan 2021 exam

(B)-1

6

Ind AS 101 (first-time adoption )

The question is from study material

(B)-2

 

Corporate social responsibility

Easy question based on provisions of CSR

 

 

 

 

5(A)

8

Ind AS 33

Study material question to find out Basic and Diluted EPS

(B)

8

Ind AS 108

This is an old question based on operating segments. There are bonus marks of 8

(C)

4

Ind As 116

This is a new question based on amendment. Lease - Rent concession is an easy question

 

 

 

 

6(A)

5

Ind AS 34 and 2

 This is a new question. Apportion of fixed overheads based on normal capacity

(B)

5

Ind AS 32 Financial instrument- compound instrument

Need to calculate the value of the financial liability and equity components. A similar question is in the study material.

(C)

5

Ind AS 102 (Share-based payment )

This question is from study material

(D)

5

Ind As 103 Business combination

This question is from RTP May 2019 and Past paper Nov 2019. This question is on the acquisition of Intangible assets

 

Detailed of CA Final- Strategic Financial Management

Strategic Financial Management was our second paper of CA Final. But this time it is proved very hard for old course students who didn’t convert to a new course. The old course paper was fully conceptual & hard. But if I talk about a new course it was Average but a little bit lengthy. Now you can check and review old course v/s new course question paper with suggested answers paper by Click here

 

For more details, check the below table.

Question no.

Marks

Topic

Remarks

1(A)

8

International financial management

The question is from study material

(B)

8

Derivative

This is a basic question of hedging through futures

(C)

4

Financial policy and Corporate strategy

Straight question of theory from ICAI material

 

 

 

 

2(A)

8

Derivative

Repeated question to find out portfolio beta

(B)

8

Interest rate risk management

This is also a basic question of Generic swap

(C)

4

Risk management

Straight question of theory from chapter 2 (Value at risk )

 

 

 

 

3(A)

8

Security valuation

This is an ambiguous question but covered in material. To prepare the income statement and find out sustainable growth rate.

(B)

8

Forex

This is a new question of invoicing 

(C)

4

Startup Finance

The risk matrix question comes from venture capital. This is a confusing question from the name risk matrix i.e stages of venture capital

 

 

 

 

4(A)

8

Mutual Fund

Easy question from mutual fund to find out the effective yield

(B)

8

Security valuation

The question is from study material

(C)

4

Startup finance

Question on-pitch presentation

 

 

 

 

5(A)

8

Corporate valuation

Repeated sum

(B)

8

Portfolio

Easy question to find out a beta of portfolio and to find out  weighted average beta

(C)

4

Securitization

Straight question of theory i.e problems faced in the growth of securitization

 

 

 

 

6(A)

8

Merger and acquisition

Question to find out the cost of acquisition and gain from the acquisition

(B)

8

Security/corporate valuation

Question of Buyback

(C)

4

Derivative and Mutual fund

Theory question on Interest rate swap from a derivative  and tracking error from mutual fund

 

 

Detailed of CA Final- Advanced Auditing & Professional Ethics

 

As we all know that only on this subject we all got average marks and most of the students got failed. So, if I talk about this July 2021 exam, the Paper level has been increased by ICAI. For old course students, it was difficult and lengthy too but, if I talk about MCQ questions it was easy as per the other section. The new course paper was average and easy as compared to the old course. To check the weightage of this paper check the below table.

 

Marks

Topic

Remarks

 

5

SA 200 and Auditor's responsibility as per SA 240

This is a simple question on material misstatements

 

5

SA250+ CARO+Sec143(3) of Companies Act,2013

The question is based on contingent liability

 

4

Professional ethics

The question is from the revised module. Question is on the corporate form of practice- council general guidelines,2008

 

 

 

 

 

5

SA 250 + SA 570+ Ind AS 37

This is a new question. Required depth study of  matter

 

5

Investigation of valuation of shares

Question is from investigation topic

 

4

Tax Audit

Question is on clause 25- deemed profits and  on Reporting of recovery of bad debts

 

 

 

 

 

5

SA 600

The question is based on factors considered while accepting a position as principal auditor.

 

5

Bank Audit- Reporting requirement

Not a tough question. The question is on the bank audit topic.

 

4

GSTR-9c

Question is based on the recommendation of the auditor is binding on the management?

 

 

 

 

 

4

Clause 8- Part I of the First schedule to CA Act, 1949 (professional ethics )

Whether to accept audit in case of a qualified report by the previous auditor

 

5

Audit committee

The question is based on whistleblower policy

 

5

Management audit

The question is from the ICAI module.  Based on a review of systems and procedures.

 

 

 

 

 

 

 

 

 

5

Section 130 and 131 of Companies Act, 2013

Question Is on the recasting of financial statements (Company audit )

 

5

SA 220 and SQC-1

The question is on the rotation of senior partners in the listed entities. Para 27 of SQC -1

 

4

Forensic Audit

The question is on reporting in a forensic audit.

 

 

 

 

 

5

Risk assessment and internal control

Question is on objectives of accounting control

 

5

SA 700

Para 51 from the pronouncements - When supplementary information is presented along with financial statements

 

4

Audit of insurance

The question is of the general insurance company.

 

 

Professional ethics

Responding to tender- clause 6 Part I of the first schedule to CA act.

 

MCQ questions are from peer review, CFS, and Bank audit

Easy questions are of 30 marks

         

 

Detailed of CA Final- Corporate & Economic Laws

If I talk about Corporate & Economic Laws so, it was our 4th paper. In the new course paper, MCQ was easy to compare to the old course. Overall it was an average but lengthy paper. Due to its length, most of the students failed to complete their papers. But, if I talk about it in the old course. MCQ was easy as compared to the new course paper. Overall it was an average paper.

 

Check the below table for the full detail and weightage of this question paper.

Question no.

Marks

Topic

Remarks

1(A)

4

Managerial remuneration (Sec197)

The question is from a past paper regarding provisions on commission and remuneration.

(B)

4

Alternate director, Sec 161(2)

Question is from past paper Nov 2019

(C)

6

Related party (Sec 188)

This is an older question from Nov 2018 exam

 

 

 

 

2(A)

4

Investigation( Sec 229 and 447)

Question is from investigation topic

(B)

4

Amalgamation and reconstruction

The question is on the scheme of reconstruction, Sec 230 will apply here( May 2017 )

(C)

3

FEMA

From Foreign exchange management act

(D)

3

SARFAESI

Easy question from SARFAESI

 

 

 

 

3(A)

4

Miscellaneous provisions

Sec 436 will apply here, Code of criminal procedure,1973

(B)

4

The company incorporated outside India

It is a direct question (Sec 128 and 129)

(C)

3

Money laundering

The question is regarding provisions of money laundering ( Sec 8 of money laundering)

(D)

3

Money laundering

A simple question from money laundering

 

 

 

 

4(A)

4

SCRA

Easy question from SCRA

(B)

4

SEBI

This is a new question, Sec 11C and 24B will apply here

(C)

3

FCRA

The question is on administrative purposes

(D)

3

FCRA

This is a past year question

 

 

 

 

5(A)

4

Winding-up

This is a direct question from winding up chapter

(B)

4

Miscellaneous provisions

The question is on alternative resolution

(C)

3

Insolvency and Bankruptcy code

The question is on resolution professional

(D)

3

Insolvency and Bankruptcy code

Question is on the validity of the meeting

 

 

 

 

6(A)-1

4

Circular resolution

This is a new question, Sec 175 will apply here

(A)-2

 

Audit committee

Easy question from the audit committee

(B)

4

Directors

Sec 165 of companies act, 2013 will attract here

(C)

3

Arbitration and conciliation act, 1996

This is  a past year question

(D)

3

Insolvency and bankruptcy code

This is a good question. Sec 9, IBC  will attract here

 

Wait for the other papers.

 

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