CA Final Group 1: Amendment Notes & Lectures for May 2021 & Nov 2021 Attempts

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Are you looking for CA Final Amendments for MAY 2021 & Nov 2021Exams??

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CA Final amendments for May 2021 exams are available for download which has been issued by the Institute of Chartered Accountants of India (ICAI). The next examinations of Chartered Accountancy Final course will be held in May 2021.

All updates till 31st October, 2020 is applicable for final level examinations to be held in the month of May 2021. CA Institute announces the applicability of Standards, Guidance Notes and Legislative Amendments etc. for May, 2021 – Final Examination.

Accordingly, you may download topic wise ICAI CA Final amendments for May 2021 exams. Accounting Standards, Standards on Auditing (SAs), Guidance Notes (GNs), Circulars, Notifications, Companies Act and Finance Act etc.

You may download CA Final amendments applicable for May 2021 exams under new syllabus as well as old syllabus. In this article you will be able to learn the recent amendments, latest updated notes and news for May 2021 examination.

You must go through the latest CA Final amendments and CA Final updates happened at least 6 months prior to the commencement of your CA Final Course examination. Accordingly, you may download the following resources provided by CA Institute on official website under Board of Studies (BoS) Knowledge Portal:

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2021 Examination Study Guidelines for May, 2021 Examinations Final New Course

Paper 1: Financial Reporting

S. No. in the
Topics of the syllabusExclusions
2.Application of Indian Accounting
Standards (Ind AS) with
reference to General Purpose
Financial Statements

(v) Ind AS on Assets and
Liabilities of the Financial
Statements including Industry
specific Ind AS

(viii) Other Ind AS
Indian Accounting Standard (Ind AS) 16 ‘Property,
Plant and Equipment’
• Appendix B- Stripping Costs in the Production
Phase of a Surface Mine
Indian Accounting Standard (Ind AS) 37
‘Provisions, Contingent Liabilities and Contingent

• Appendix A: Rights to Interests arising from
Decommissioning, Restoration and Environmental
Rehabilitation Funds
• Appendix B: Liabilities arising from Participating in
a Specific Market — Waste Electrical and
Electronic Equipment

• Indian Accounting Standard (Ind AS) 29 : Financial
Reporting in Hyperinflationary Economies
• Indian Accounting Standard (Ind AS) 104 :
Insurance Contracts
• Indian Accounting Standard (Ind AS) 106 :
Exploration for and Evaluation of Mineral
• Indian Accounting Standard (Ind AS) 114 :
Regulatory Deferral Accounts
5.Analysis of financial statements• Analysis of financial statements based on Accounting Standards

(1) In the above table, in respect of the topics of the revised syllabus specified in column (2) the related exclusion is given in column (3). The revised syllabus has been enclosed as Annexure I of this Study Guidelines.

(2) November, 2020 edition of the Study Material is relevant for May, 2021 examination. The relevant /applicable topics or content are to be read alongwith the ‘Corrigendum to Study Material’, if any

(3) The relevant Amendments / Notifications / Circulars / Rules issued by the Companies Act, 2013 up to31st October, 2020 will be applicable for May, 2021 Examination. Accordingly, amendments notified by MCA on 24th July, 2020 is applicable for May, 2021 examination.

PAPER 1: Financial Reporting

Faculty NameAmendments NotesAmendments Lectures
CA Praveen SharmaPart 1 Part 1
Part 2 Part 2
Part 3 Part 3
CA Jai ChawlaPart 1
Part 2

Annexure I

(One paper – Three hours – 100 Marks)

(a) To acquire the ability to integrate and solve problems in practical scenarios on Indian Accounting Standards for deciding the appropriate accounting treatment and formulating suitable accounting policies.
(b) To gain the prowess to recognize and apply disclosure requirements specified in Indian Accounting Standards while preparing and presenting the financial statements.
(c) To develop the skill to prepare financial statements of group entities which includes subsidiaries, associates and joint arrangements based on Indian Accounting Standards.
(d) To develop an understanding of the various forms of reporting (other than financial statements) and accounting for special transactions, and apply such knowledge in problem solving.


  1. Framework for Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards (Ind AS).
  2. Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements
    (i) Ind AS on First time adoption of Indian Accounting Standards
    (ii) Ind AS on Presentation of Items in the Financial Statements
    (iii) Ind AS on Measurement based on Accounting Policies
    (iv) Ind AS on Income Statement
    (v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS
    (vi) Ind AS on Items impacting the Financial Statements
    (vii) Ind AS on Disclosures in the Financial Statements
    (viii) Other Ind AS
  3. Indian Accounting Standards on Group Accounting
    (i) Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS)
    (ii) Consolidated and Separate Financial Statements (as per Ind AS)
  4. Accounting and Reporting of Financial Instruments (as per Ind AS)
  5. Analysis of Financial Statements
  6. Integrated Reporting
  7. Corporate Social Responsibility Reporting
  8. Notes:
  9. If either a new Indian Accounting Standard (Ind AS) or Announcements and Limited Revisions to Ind AS are issued or the earlier one are withdrawn or new Ind AS, Announcements and Limited Revisions to Ind AS are issued in place of existing Ind AS, Announcements and Limited Revisions to Ind AS, the syllabus will accordingly include / exclude such new developments in the place of the existing ones with effect from the date to be notified by the Institute.
  10. The specific inclusions / exclusions in any topic covered in the syllabus will be effected every year by way of Study Guidelines.

PAPER 2: Strategic Financial Management

Faculty NameAmendments NotesAmendments Lectures
CA Gaurav JainDownload NowLink
CA Nagendra sahDownload NowLink

Paper 3: Advanced Auditing and Professional Ethics

A- List of topic-wise inclusion in the syllabus
I. List of applicable Statements and Standards for May 2021 Examination:

Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143(1) of the
Companies Act, 2013).

Framework for Assurance Engagements.
II. List of applicable Engagements and Quality Control Standards on Auditing for May 2021

S.NoSATitle of Standard on Auditing
1SQC 1Quality Control for Firms that Perform Audits and Reviews of Historical
Financial Information, and Other Assurance and Related Services
2SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
3SA 210Agreeing the Terms of Audit Engagements
4SA 220Quality Control for Audit of Financial Statements
5SA 230 Audit Documentation
6SA 240 The Auditor’s responsibilities Relating to Fraud in an Audit of Financial
7SA 250 Consideration of Laws and Regulations in An Audit of Financial Statements
8SA 260 Communication with Those Charged with Governance (Revised)
9SA 265 Communicating Deficiencies in Internal Control to Those Charged with
Governance and Management
10SA 299 Joint Audit of Financial Statements (Revised)
11SA 300 Planning an Audit of Financial Statements
12SA 315 Identifying and Assessing the Risks of Material Misstatement through
Understanding the Entity and its Environment
13SA 320 Materiality in Planning and Performing an Audit
14SA 330 The Auditor’s Responses to Assessed Risks
15SA 402 Audit Considerations Relating to an Entity Using a Service Organization
16SA 450Evaluation of Misstatements Identified during the Audits
17SA 500 Audit Evidence
18SA 501 Audit Evidence – Specific Considerations for Selected Items
19SA 505 External Confirmations
20SA 510 Initial Audit Engagements-Opening Balances
21SA 520 Analytical Procedures
22SA 530 Audit Sampling
23SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates,
and Related Disclosures
24SA 550 Related Parties
25SA 560 Subsequent Events
26SA 570 Going Concern (Revised)
27SA 580 Written Representations
28SA 600 Using the Work of Another Auditor
29SA 610 Using the Work of Internal Auditors (Revised)
30SA 620 Using the Work of an Auditor’s Expert
31SA 700 Forming an Opinion and Reporting on Financial Statements (Revised)
32SA 701 Communicating Key Audit Matters in the Independent Auditor’s Report (New)
33SA 705 Modifications to the Opinion in the Independent Auditor’s Report (Revised)
34SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report (Revised)

PAPER 3:  Advanced Auditing & PE

Faculty NameAmendments NotesAmendments Lectures
CA Pankaj GargDownload NowPart 1 , Part 2 , Part 3 ,
Part 4 , Part 5 , Part 6 ,
Part 7 , Part 8 , Part 9
Chapterwise Amendment
CA Abhishek Bansal Download Now
CA Sanidhya Saraf Download Now
CA Kapil GoyalPart 1 , Part 2 , Part 3

PAPER 4:  Corporate and Economic Laws

Faculty NameAmendments NotesAmendments Lectures
CA Pankaj GargDownload Now
CA Sanidhya Saraf Download Now
CA Abhishek Bansal Download Now Link
CA Darshan khare Download Now Link

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