CA Intermediate study guide
Every chapter of all four papers, broken into 672 topics. Each topic shows the concept, a step-by-step way to solve questions, the quickest method for the exam, the mistakes students make and worked examples.
Paper 1: Advanced Accounting
Subjective, written · 35 chaptersAS 3 Cash Flow Statement
- AS 3 Objective, Scope and Key Definitions
- Classification of Cash Flows into Operating, Investing, Financing
- Cash Flow from Operating Activities (Direct and Indirect)
- Investing and Financing Activities Calculations
- Special Items: Foreign Currency, Extraordinary Items, Taxes
- Preparing a Cash Flow Statement: Comprehensive Problems
AS 28 Impairment of Assets
- AS 28 Scope, Objective and Key Definitions
- Identifying an Impaired Asset and Indications of Impairment
- Measuring Recoverable Amount: Net Selling Price and Value in Use
- Recognition and Measurement of Impairment Loss
- Cash Generating Units, Corporate Assets and Goodwill
- Reversal of Impairment Loss and Disclosures
AS 15 Employee Benefits
- AS 15 Scope, Definitions and Classification of Benefits
- Short-term Employee Benefits and Compensated Absences
- Post-employment Benefits: Defined Contribution Plans
- Defined Benefit Plans: Recognition and Measurement
- Past Service Cost, Curtailments and Settlements
- Other Long-term Benefits, Termination Benefits and Disclosures
Financial Statements of Companies
- Company Final Accounts Format under Schedule III
- Statement of Profit and Loss and Items of Income and Expense
- Share Capital, Reserves and Surplus Disclosures
- Borrowings, Debentures and Other Liabilities Presentation
- Fixed Assets, Investments and Current Assets Presentation
- Managerial Remuneration and Net Profit under Section 198
- Preparation of Company Financial Statements with Adjustments
Amalgamation of Companies
- Amalgamation: Meaning and Types under AS 14
- Purchase Consideration and Its Calculation
- Methods of Accounting: Pooling of Interests and Purchase Method
- Journal Entries in the Books of Transferor Company
- Entries and Balance Sheet in Books of Transferee Company
- Special Adjustments and Disclosures in Amalgamation
Accounting for Branches including Foreign Branches
- Branch Accounting: Meaning and Types of Branches
- Dependent Branches: Debtors System
- Dependent Branches: Stock and Debtors System
- Dependent Branches: Final Accounts and Wholesale Branch System
- Independent Branches and Incorporation of Branch Trial Balance
- Foreign Branches: Classification and AS 11 Translation Rules
- Foreign Branches: Translation and Foreign Exchange Differences
Paper 2: Corporate and Other Laws
Subjective, written · 15 chaptersIncorporation of Company and Matters Incidental Thereto
- Meaning and Types of Companies
- Promoters and Their Legal Position
- Incorporation Process and Certificate of Incorporation
- Memorandum of Association
- Articles of Association
- Doctrines of Constructive Notice and Indoor Management
- Prospectus and Capital Raising Disclosures
- Share Capital, Allotment and Related Matters
Share Capital and Debentures
- Kinds of Share Capital and Voting Rights
- Issue of Shares: Prospectus and Allotment
- Private Placement, Rights and Bonus Issue
- Sweat Equity Shares and ESOP
- Issue of Shares at Premium and Discount
- Share Certificates, Transfer and Transmission
- Alteration and Reduction of Share Capital; Buy-back
- Debentures: Issue, Types and Debenture Trustee
Management & Administration
- Registered Office and Company Identity
- Directors: Appointment, Qualification and Disqualification
- Key Managerial Personnel and Managerial Remuneration
- Board Meetings and Committees
- General Meetings: AGM and EGM
- Resolutions and Minutes
- Related Party Transactions and Director Interests
- Statutory Registers, Annual Return and Corporate Social Responsibility
Audit and Auditors
- Statutory Audit and Books of Account Basics
- Appointment of Auditors and First Auditor
- Eligibility, Qualifications and Disqualifications of Auditors
- Rotation of Auditors and Removal, Resignation
- Remuneration and Powers and Duties of Auditors
- Non-Audit Services, Auditor's Liability and Penalties
- Cost Audit, Secretarial Audit and Internal Audit
The Limited Liability Partnership Act, 2008
- LLP Introduction and Nature of LLP
- Incorporation of LLP and Incorporation Document
- Partners, Designated Partners and Their Liability
- LLP Agreement and Contributions
- Financial Disclosures, Accounts and Audit of LLP
- Taxation, Investigation, Compromise and Arrangements
- Conversion into LLP, Foreign LLPs and Winding Up
Paper 3: Taxation
Subjective, written · 28 chaptersBasic Concepts
- Income-tax Act, 2025 Overview and Charge of Tax
- Key Definitions: Person, Assessee and Income
- Tax Year, Previous Year and Exceptions
- Residential Status and Scope of Total Income
- Agricultural Income and Its Tax Treatment
- Heads of Income and Computation of Total Income
- Carry Forward of Losses in Amalgamation or Demerger
Residential Status and Scope of Total Income
- Residence of Individuals and Basic Conditions
- Resident but Not Ordinarily Resident (RNOR) and Deemed Resident
- Residential Status of HUF, Firms, Companies and Other Persons
- Scope of Total Income Based on Residential Status
- Income Deemed to Be Received, Accrued or Arisen in India
- Income Not Accruing in India but Taxable, and Executor Provisions
Profits and Gains of Business or Profession
- Chargeability and Computation of Business Income
- Admissible Deductions and Allowable Expenses
- Depreciation and Other Capital Allowances
- Inadmissible Expenses and Disallowances
- Deemed Profits and Business Receipts Taxable
- Special Deductions: Site Restoration Fund and Similar Provisions
- Presumptive Taxation Schemes
- Maintenance of Books and Tax Audit
Capital Gains
- Capital Asset and Transfer: Meaning and Scope
- Short-term and Long-term Capital Assets
- Computation of Capital Gains and Cost of Acquisition
- Special Cases of Capital Gains Computation
- Tax Rates on Capital Gains and Securities Transactions
- Exemption on Investment in Specified Bonds
- Exemption on Reinvestment in House Property and Assets
- Other Exemptions and Deemed Capital Gains Provisions
Income from Other Sources
- Income from Other Sources: Basis of Charge and Residuary Head
- Dividend Income and Related Deductions
- Winnings from Lotteries, Games and Other Specific Incomes
- Interest on Securities and Other Interest Income
- Income from Machinery, Plant or Furniture Letting and Composite Letting
- Gifts and Receipts Without or Inadequate Consideration
- Other Receipts: Compensation, Advance Forfeited and Sale of Shares
Income of Other Persons included in Total Income of Assessee
- Clubbing of Income: Meaning and Basic Principles
- Transfer of Income without Transfer of Asset
- Clubbing of Income of Spouse
- Clubbing of Income of Son's Wife and Daughter-in-law
- Clubbing of Income of Minor Child
- Conversion of Self-acquired Property into Joint Family Property
- Income Not Included in Total Income: Political Parties and Electoral Trusts
- Set-off, Carry Forward and Application of Clubbing Provisions
Set-Off or Carry Forward and Set-off of Losses
- Concept of Set-off and Carry Forward of Losses
- Intra-head and Inter-head Set-off of Losses
- Loss from Speculation Business
- Loss from Specified Business
- Carry Forward of Business Losses, Depreciation and Capital Losses
- Losses from Owning and Maintaining Race Horses and Other Sources
- Set-off and Carry Forward Problems and Special Cases
Deductions from Gross Total Income
- General Provisions and Deduction Framework
- Deductions for Savings and Investments
- Deductions for Health, Medical and Disability
- Deductions for Loans, Rent and Interest
- Deductions for Donations and Contributions
- Deductions for Income from Specific Sources
- Deductions for Business and Special Entities
- Comprehensive Problems on Total Income Computation
Returns
- Returns Under GST: Types and Basic Provisions
- GSTR-1: Details of Outward Supplies
- GSTR-2A, GSTR-2B and Input Tax Credit Matching
- GSTR-3B: Monthly and Quarterly Summary Return
- Composition, TDS, TCS and ISD Returns
- Annual Return GSTR-9 and Reconciliation GSTR-9C
- Late Fee, Interest, Nil Returns and Return Compliance
Paper 4: Cost and Management Accounting
Subjective, written · 15 chaptersMaterial Cost
- Material Cost Meaning and Procurement Procedure
- Inventory Control and Stock Levels
- Economic Order Quantity and Ordering Costs
- ABC, VED and Other Inventory Classification Methods
- Material Issue Pricing Methods: FIFO, LIFO, Weighted Average
- Accounting for Material Losses: Waste, Scrap, Spoilage, Defectives
- Valuation of Inventory and Inventory Turnover
Overheads - Absorption Costing Method
- Meaning and Classification of Overheads
- Collection, Codification and Allocation of Overheads
- Apportionment and Primary Distribution of Overheads
- Secondary Distribution: Reapportionment of Service Costs
- Overhead Absorption Methods and Rates
- Under-Absorption and Over-Absorption of Overheads
- Capacity Levels, Idle Capacity and Special Overhead Treatments
Paper 5: Auditing and Ethics
Subjective, written · 11 chaptersAudit Report
- Basic Elements of the Auditor's Report (SA 700)
- Types of Audit Opinions: Unmodified and Modified (SA 705)
- Emphasis of Matter and Other Matter Paragraphs (SA 706)
- Key Audit Matters (SA 701)
- Other Information, Comparatives and Going Concern in Reports
- Reporting under Companies Act: Section 143 and CARO 2020
Ethics and Terms of Audit Engagements
- Ethical Requirements and Fundamental Principles
- Professional Skepticism and Professional Judgment
- Preconditions for an Audit and Agreeing Audit Terms
- Audit Engagement Letter and Its Contents
- Recurring Audits, Changes in Terms and Acceptance of Change
- Engagement Acceptance, Continuance and Communication with Previous Auditor
Paper 6: Financial Management and Strategic Management
Subjective, written · 19 chaptersTypes of Financing
- Sources of Finance: Long-term, Medium-term, Short-term
- Long-term Sources: Equity, Preference Shares and Debentures
- Venture Capital, Private Equity and Start-up Financing
- Lease Financing and Hire Purchase
- Short-term Finance: Trade Credit, Bank Finance and Commercial Paper
- Innovative and International Sources of Finance
Investment Decisions
- Capital Budgeting: Meaning and Process
- Estimating Cash Flows for Projects
- Payback Period and Discounted Payback
- Accounting Rate of Return (ARR)
- Net Present Value (NPV) and Profitability Index
- Internal Rate of Return (IRR) and MIRR
- Capital Rationing and Unequal Project Lives
- Risk Analysis in Capital Budgeting