CA Final Financial Reporting is an advanced and highly conceptual subject that focuses on the preparation and presentation of financial statements as per Indian Accounting Standards (Ind AS).
This subject builds analytical and practical skills required interpreting complex transactions. It is one of the most scoring subjects in CA Final syllabus.
CA Final Financial Reporting Chapter-wise Weightage for Nov 2023
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CA Final Financial Reporting Chapter-wise Weightage for Nov 2023
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Contents
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Section
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Weightage
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1. Introduction to General Purpose Financial Statements as per Indian Accounting Standard (Ind AS)
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I
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10%-15%
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Statutory provisions: Applicability criteria
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Division II of Schedule IIIto the Companies Act, 2013 and Guidance Note thereupon
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2. Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS)
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3. Application of Ind AS with reference to General Purpose Financial Statements
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(i) Ind AS on Presentation of Items in the Financial Statements
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Ind AS 1 “Presentation of Financial Statements”
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Ind AS 34 “Interim Financial Reporting”
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Ind AS 7 “Statement of Cash Flows”
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(ii) Ind AS on Measurement based on Accounting Policies
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Ind AS 8 “Accounting Policies, Changes in Accounting Estimates and Errors”
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Ind AS 10 “Events after the Reporting Period”
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Ind AS 113 “Fair Value Measurement”
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(iii) Ind AS on Income Statement
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II
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5%-10%
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Ind AS 115* “Revenue from Contracts with the Customers”
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(iv) Ind AS on Assets and Liabilities of the Financial Statements
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III
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15%-25%
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Ind AS 2 “Inventories”
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Ind AS 16 “Property, Plant and Equipment”
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Ind AS 116* “Leases”
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Ind AS 23 “Borrowing Costs”
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Ind AS 36 “Impairment of Assets”
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Ind AS 38 “Intangible Assets”
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Ind AS 40 “Investment Property”
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Ind AS 105 “Non-current Assets Held for Sale and Discontinued Operations”
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Ind AS 19 “Employee Benefits”
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Ind AS 37 “Provisions, Contingent Liabilities and Contingent Assets”
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(v) Ind AS on Items impacting the Financial Statements
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IV
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15%-20%
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Ind AS 12* “Income Taxes”
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Ind AS 21 “The Effects of Changes in Foreign Exchange Rates”
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(vi) Ind AS on Disclosures in the Financial Statements
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Ind AS 24 “Related Party Disclosures”
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Ind AS 33 “Earnings per Share”
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Ind AS 108 “Operating Segments”
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(vii) Other Ind AS
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Ind AS 20 “Accounting for Government Grants and Disclosure of Government Assistance”
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Ind AS 102 “Share Based Payment”
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Ind AS 41 “Agriculture”
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(viii) Ind AS on Financial Instruments (it includes Ind AS 32, Ind AS 109, Ind AS 107)
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V
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10%-15%
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Financial Instruments: Scope and Definitions
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Classification and Measurement of Financial Assets and Financial Liabilities
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Financial Instruments: Equity and Financial Liabilities
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Derivatives and Embedded Derivatives
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Recognition and Derecognition of Financial Instruments
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Hedge Accounting ,Disclosures
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4. Ind AS on Group Accounting
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VI
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10%-20%
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(i) Business Combinations (Ind AS 103)
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(ii) Consolidated and Separate Financial Statements (it includes Ind AS 110, Ind AS 111, Ind AS 27, Ind AS 28, Ind AS 112)
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5. First time adoption of Indian Accounting Standards (Ind AS 101)
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VII
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5%-10%
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6. Analysis of financial statements (as per Ind AS)
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7. Ethics with Accounting Concepts
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VIII
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5%-10%
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Identify and explain the key ethical issues
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8. Technology and Accounting
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Evolution of Accounting in the technological environment
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CA Final Financial Reporting Exam Pattern
CA Final Financial Reporting Total Marks: 100
CA Final Financial Reporting Questions: 6 questions (Questions 1 is compulsory, attempt any 4 from remaining 5)
CA Final Financial Reporting Time Limit: 3 hours
CA Final Financial Reporting Answer Strategy: well structured answers with formats, working notes, and headings
CA Final Financial Reporting Common Mistakes Which Students Often Make
Ignoring Ind AS 109 (Financial Instruments) and Ind AS 103
· Not solving full mock tests under timed conditions
· Memorizing Journal entries without understanding logic
· Skipping theory questions assuming they are unimportant
· Not writing notes (which carries separate marks)
Preparation Strategies for CA Final Financial Reporting
· Use the latest ICAI study material, revision modules, and past papers.
· Analyze the syllabus and topic-wise weightage to plan smartly.
· Make handwritten notes for quick revision of key points and formulas.
· Watch online video lectures to support tough topics.
· Clear doubts via online mentorship (like Bhagya Achievers).
· For practical sums, write formulas and draw tables before calculations.
· Stay consistent and focused in your daily routine.
· Attempt mock and previous year papers to track your performance.
Benefits of Using Free Download CA Final Financial Reporting Handwritten, Chapter-wise, Topic-wise…….. Free Notes
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Frequently Asked Questions
Q1: How to start preparing for CA Final Financial Reporting?
Ans: Begin your CA Final Financial Reporting preparation by thoroughly going through the ICAI Study Material, focusing on understanding each Ind AS conceptually. Create a detailed study plan dividing time for conceptual reading, practice and revision.
Q2: Is CA Final Financial Reporting tough?
Ans: CA Final Financial Reporting is conceptual and practical, but not tough if approached smartly. The challenge lies in understanding complex Ind AS standards and applying them in exam style questions. With regular practice, mock tests, and focus on presentation formats, it can become one of the most scoring subjects.
Q3: Which is the most scoring chapter in the CA Final Financial Reporting?
Ans: The most scoring Chapter in CA Final Financial Reporting include:
· Ind AS 103 – Business Combinations
· Ind AS 110 – Consolidated Financial Statements
· Ind AS 109, 32, 107 – Financial Statements
· Ind AS 116 – Leases
· Valuation, ESOP, Corporate Restructuring
Q4: How to score 70+ in CA Final Financial Reporting?
Ans: To score 70+ in CA Final Financial Reporting:
· Focus on clarity of concepts in Ind AS
· Practice previous year questions and RTPs
· Work on presentation and proper formats
· Attempt mock test and prepare handwritten notes
Q5: Are CA Final Financial Reporting questions repeated in the exam?
Ans: While exact questions may not be repeated, concepts and patterns do repeat, especially from ICAI RTPs, MTPs and Previous year questions.
Q6: How to write answers in CA Final Financial Reporting to get good marks?
Ans: Write CA Final Financial Reporting answer using clear formats with proper subheadings, and refer to relevant Ind AS where applicants. Always include working notes, follow a stepwise presentation, and don’t skip basic assumptions or calculations.
Q7: How can I ask my doubts in the Bhagya Achievers Community regarding CA Final Financial Reporting?
Ans: Simply students can post their doubts in Bhagya Achievers Community Doubt section where all the subject experts of CA are ready to clear students of all doubts.
Q8: Can I post my own FR notes or summary charts in the community?
Ans: Yes, students can also post their notes without any permission. They can post all types of handwritten and typed notes on Bhagya achievers community.
