Paper 1 · 100 marks · 3 hours

CA Final Financial Reporting

The full ICAI syllabus for Financial Reporting, every past paper with official Suggested Answers, and free AI-graded practice so you know exactly where you stand before exam day.

ICAI Study Material

Syllabus — Financial Reporting

All 18 chapters, per ICAI's New Scheme of Education and Training.

1 Framework for Preparation and Presentation of Financial Statements
2 Application of Indian Accounting Standards (Ind AS)
3 Ind AS on Presentation of Items in the Financial Statements (Ind AS 1, 34, 7)
4 Ind AS 115 Revenue from Contracts with Customers
5 Ind AS on Measurement-based on Accounting Policies (Ind AS 8, 10, 113)
6 Other Ind AS (Ind AS 20, 102, 101)
7 Ind AS 116 Leases
8 Ind AS on Assets (Ind AS 2, 16, 23, 36, 38, 40, 105)
9 Ind AS on Liabilities (Ind AS 19, 37)
10 Ind AS on Items Impacting Financial Statements (Ind AS 12, 21)
11 Ind AS on Disclosures in Financial Statements (Ind AS 24, 33, 108)
12 Accounting and Reporting of Financial Instruments (Ind AS 32, 107, 109)
13 Business Combinations and Corporate Restructuring (Ind AS 103)
14 Consolidated Financial Statements (Ind AS 110, 111, 112, 27, 28)
15 First-time Adoption of Ind AS (Ind AS 101)
16 Analysis of Financial Statements
17 Integrated Reporting
18 Corporate Social Responsibility Reporting

How to study Financial Reporting

Where the marks tend to concentrate

Ind AS on assets, liabilities, and revenue/expenses — especially Ind AS 115 (Revenue from Contracts with Customers), Ind AS 116 (Leases), and Ind AS 103 (Business Combinations) — form the core, high-weightage block practice-community analysis consistently points to.
Consolidated and Separate Financial Statements (including associates and joint ventures) is another consistently heavy topic, often carrying one of the longer problems in the paper.
Ind AS on Financial Instruments (Ind AS 109/32/107) and Accounting for Corporate Restructuring show up regularly as substantial, calculation-heavy questions.

Common mistakes to avoid

Learning Ind AS definitions in isolation instead of practising full problems — this paper is almost entirely application-based, not theory recall.
Weak presentation discipline: not showing the required notes-to-accounts / disclosure workings that ICAI's solutions include and reward.
Under-revising the "smaller" standards (e.g., Ind AS on government grants, borrowing costs, related-party disclosures) that still show up as scoring 4-6 mark questions.

How ICAI marks this paper

Financial Reporting is a subjective, calculation- and case-study-heavy paper. ICAI's solutions award marks stage-by-stage — for identifying the correct treatment, showing the working, and arriving at the figure — so a partially correct answer with sound method still earns meaningful credit. There is no negative marking.

Weightage patterns are aggregated from past ICAI papers, not an official ICAI table — treat as directional guidance.