ICAI Self-Paced Online Modules Under New Scheme May 2024, Complete Detail & Syllabus

CA Study

Hello Everyone,

Please find complete information about ICAI Self Paced Online Modules Under ICAI New Scheme May 2024 below –

Self Paced Online Modules

About Self Paced Online Modules

In the current dynamic economic scenario, it is critical for the Institute to devise a new approach for developing, updating and delivering professional accountancy education and training. The process of developing a chartered accountant must centrally involve critical and interdisciplinary thinking, research and innovation.

Accordingly, four self-paced online modules [SETS A, B, C and D] encompassing different fields, have been introduced for the first time in the Scheme of Education and Training. As the name suggests, a student can learn and qualify the modules at their own pace after qualifying the Intermediate level Examination.

SET A and SET B would comprise of mandatory online modules, namely, Corporate and Economic Laws and Strategic Cost and Performance Management, respectively. SET C and SET D would comprise of online modules, wherein a basket of options would be made available to a student, and he can choose one each under each set from the options available to him.

Manner of learning Under ICAI Self Paced Online Modules

The learning modules/study materials for the Self-Paced Online Modules will be provided to the students in the form of eBooks. In case of SET A and SET B, physical copies would also be provided to students.

Besides e-books, video lectures of experts from industry, who have rich practical exposure in the relevant subject area, will be made available to the students through Digital Learning Hub (DLH). The learning through these video lectures can be monitored through DLH itself. Students would be required to complete the minimum prescribed learning hours for each self-paced online module they opt for. Special sessions would also be organized periodically to address the queries of students

Other Important & Relevant Sources

Registration Process Under ICAI Self Paced Online Modules

Students after qualifying Intermediate Examination have to register for Final Course. At the time of registration of Final Course, students would be required to register for Self-Paced Online Module also. The form for Final Course registration will contain the facility to opt for the subject under Self-Paced Online Module Set C and Set D. No separate fee is payable for registration of Self-Paced Online Modules, namely, SETS A, B, C and D.

Subjects Under ICAI Self Paced Online Modules

A student has to undergo online learning in Corporate and Economic Laws [SET A] and Strategic Cost and Performance Management [SET B] mandatorily. Further, he has to choose one module each from SET C and SET D.

Syllabus of ICAI Self Paced Online Modules

The syllabi of each subject has an objective statement and contents. In SET A Corporate and Economic Laws and SET B Strategic Cost and Performance Management, students are expected to acquire expert knowledge. Working knowledge is expected for Self-Paced Online Modules opted in SETS C and D.

SET C contains ten electives, from which a student can choose one, based on his or her interest.

Towards a more holistic and multi-disciplinary education emphasized in the National Education Policy, 2020 (NEP, 2020) for developing intellectual, aesthetic, social, physical, emotional and moral capacities in an integrated manner, a student has to opt one out of the four options, namely, The Constitution of India & Art of Advocacy; Psychology & Philosophy; Entrepreneurship & Start-Up Ecosystem and Digital Ecosystem & Controls. This would facilitate high quality holistic and multidisciplinary education, delivered online, laying stress on “how to think” rather than “what to think”.

Such creative combinations of disciplines would inculcate cross-disciplinary thinking amongst students and facilitate innovative reasoning in solving real-life problems which they encounter in their practice or employment, once they qualify as a chartered accountant.

Examination of ICAI Self Paced Online Modules

The assessment would be online by way of multiple choice questions, which would be case scenario based for SETS A and B; and a combination of independent MCQs and case scenario based MCQs in case of subjects in SETS C and D. Expert knowledge is expected in SETS A and B, wherein all skills, namely, knowledge and comprehension, application and analysis and evaluation and synthesis would be assessed. Working knowledge is expected in SETS C and D, wherein knowledge and comprehension and application and analysis would be assessed.

The detailed modalities are being worked out and would be communicated to the students.

Requirement for passing Self Paced Online Modules

A student has to qualify these online modules (SETS) for appearing in Final Examination. The minimum marks for qualifying each module is 50%. There is no restriction in the number of attempts. Students would be permitted to change the subject opted for in SET C and SET D. The marks obtained in Self-Paced Online Modules will not be aggregated with the marks obtained in the core papers for the purpose of assessment

Complete Syllabus of ICAI Self Paced Online Modules

Set A: ICAI Self Paced Online Module

Part 1: CORPORATE LAWS (70 Marks)

Objective

To acquire the ability to analyse, interpret and apply the provisions of the Company Law in practical situations.

Contents

The Companies Act, 2013 and Rules framed thereunder in its entirety with specific reference to section 149 onwards:

1. Appointment and Qualifications of Directors
2. Appointment and Remuneration of Managerial Personnel
3. Meetings of Board and its Powers
4. Inspection, Inquiry and Investigation
5. Compromises, Arrangements and Amalgamations
6. Prevention of Oppression and Mismanagement
7. Winding Up
8. Miscellaneous Provisions
9. Adjudication, Special Courts, National Company Law Tribunal
10. e-Filing

SECTION B: SECURITIES LAWS (20 Marks)

Objective: To acquire the ability to analyse the significant provisions of the SEBI Act.

Contents: Overview of the Securities Exchange Board of India Act, 1992, and references of following Regulations:

1. SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015
2. SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
3. SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011
4. SEBI (Prohibition of Insider Trading) Regulations, 2015

Part 2: ECONOMIC LAWS (30 Marks)

Objective: To acquire the ability to analyse the significant provisions of select Economic Laws.

Contents:

1. The Foreign Exchange Management Act, 1999 and significant Rules and Regulations: Introduction, Broad structure of FEMA, Definition, Regulation and Management of Foreign Exchange, Contraventions and Penalties in brief, Miscellaneous Provisions.
2. The Foreign Contribution Regulation Act, 2010 and its Regulation: Definitions, Regulation of Foreign Contribution and Miscellaneous Provisions.
3. The Insolvency and Bankruptcy Code, 2016 and significant Rules and Regulations: Significant concepts covered uptill section 33 of the Code.

Note: If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.

The specific inclusions/exclusions in the various topics covered in the syllabus will be affected every year by way of study guidelines, if any.

Set B: ICAI Self Paced Online Module

PAPER: STRATEGIC COST & PERFORMANCE MANAGEMENT (100 MARKS)

Objective

• To acquire the ability to apply various cost management techniques for planning and controlling performance in order to set, monitor and control strategic objectives.
• To develop skills of analysis, synthesis and evaluation in cost management to address challenges and issues which might affect or influence the management of performance within organisations.

PART A: STRATEGIC COST MANAGEMENT

1. An Introduction to Strategic Cost Management
2. Modern Business Environment
3. Lean System and Innovation
4. Specialist Cost Management Techniques
5. Management of Cost Strategically for Emerging Business Models
6. Strategic Revenue Management
7. Strategic Profit Management

PART B: STRATEGIC PERFORMANCE MANAGEMENT

1. An Introduction to Strategic Performance Management
2. Strategic Performance Measures in Private Sector
3. Strategic Performance Measures in the Not-for-Profit Organisations
4. Preparation of Performance Reports
5. Divisional Transfer Pricing
6. Standard Costing

PART C: CASE STUDY

Case Study

• Combination of MCQs and extended response questions
• Covering Course Concepts

General Note-

The Strategic Cost & Performance Management exam builds upon the skills and knowledge examined in the “Strategic Management” and “Cost and Management Accounting” exams. At this stage candidates will be expected to demonstrate an integrated knowledge of the subject and an ability to relate their technical understanding of the subject to issues of strategic and operational importance to the organisation.

Basic Applications of the following Quantitative Techniques are required to be studied for linkage to the course concept: (a) Linear Programming (b) Learning Curve/Experience Curve.

Set C: ICAI Self Paced Online Module

Elective (Opt for any one of the below options)

• Risk Management
• Sustainable Development and Sustainability Reporting
• Public Finance and Government Accounting
• The Insolvency and Bankruptcy Code, 2016
• International Taxation
• The Arbitration and Conciliation Act, 1996
• Forensic Accounting
• Valuation
• Financial Services and Capital Markets
• Forex and Treasury Management

Elective Paper Paper 1 : Risk Management ICAI Self Paced Online Module

ICAI Self Paced Online Module

1. Introduction & Overview
2. Risk Strategy & Governance
3. Role of Risk Stakeholders
4. Risk Assessment
5. Risk Response
6. Risk Monitoring & Reporting
7. Strategic Risk
8. Operational Risk
9. Emerging Issues in ERM

Elective Paper 2: Sustainable Development And Sustainability Reporting

• Fundamentals of Sustainable Development
• Sustainability Reporting in India
• Business Responsibility and Sustainability Reporting (BRSR) in India
• Global Trends in Sustainability Reporting
• Sustainability Assurance

Elective Paper 3: Public Finance And Government Accounting – ICAI Self Paced Modules

• Introduction to Government Functioning
• Constitutional Provisions and Related Authorities
• Public Finance
• Public Revenue
• Budget
• Public Debt/Bond
• Public Expenditure
• Union & State Accounts
• Urban Local Bodies
• Standard Internal Control and Risk Management

Elective Paper 4: The Insolvency And Bankruptcy Code, 2016 – ICAI Self Paced Online Modules

Note: If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.

The specific inclusions/exclusions in the various topics covered in the syllabus will be effected every year by way of Study Guidelines, if required.

Elective Paper 5: International Taxation – ICAI Self Paced Online Modules

Note: If any new legislation(s) are enacted in place of an existing legislation(s), the syllabus will accordingly include the corresponding provisions of such new legislation(s) in the place of the existing legislation(s) with effect from the date to be notified by the Institute. Similarly, if any existing legislation(s) on direct tax laws ceases to be in force, the syllabus will accordingly exclude such legislation(s) with effect from the date to be notified by the Institute.

Further, the specific inclusions/exclusions in any topic covered in the syllabus will be effected by way of Study Guidelines every year, if required. Specific inclusions/exclusions in a topic may also arise due to additions/deletions made every year by the Annual Finance Act.

Elective Paper 6: The Arbitration And Conciliation Act, 1996 – ICAI Self Paced Online Modules

• Introduction
• Fundamentals of Arbitration
• Enforcement of Certain Foreign Awards
• Conciliation

Elective Paper 7: Forensic Accounting – ICAI Self Paced Online Modules

• Background & Overview
• Introduction & Basic Concepts
• Nature & Types of Frauds
• Financial Statement Frauds
• Process of Forensic Investigation
• Fraud Detection
• Digital Forensics
• Interviewing Skills
• Writing a Forensic Investigation Report
• Fraud Prevention

Elective Paper 8: Valuation – ICAI Self Paced Online Modules

• Introduction to Valuation
• Need and Purpose of Valuation
• Valuation Approaches and Methodologies
• Valuation Documentation and Report
• Valuation Standards
• Other Applications of Valuation

Elective Paper 9: Financial Services And Capital Markets – ICAI Self Paced Online Modules

• Introduction to Financial Markets
• Impact of various Policies of Financial Markets
• Capital Market – Primary
• Capital Market – Secondary
• Money Market
• Bond Market
• Derivative Market
• Institutions and Intermediaries etc

Elective Paper 10: Forex And Treasury Management – ICAI Self Paced Online Modules

SET D – ICAI Self Paced Online Modules

There are 4 Papers in Set D Of ICAI Self Paced Online Module

PAPER 1: THE CONSTITUTION OF INDIA AND ART OF ADVOCACY (100 Marks)
PAPER 2: PSYCHOLOGY & PHILOSOPHY (100 Marks)
PAPER 3: ENTREPRENEURSHIP AND START-UP ECOSYSTEM (100 Marks)
PAPER 4: DIGITAL ECOSYSTEM AND CONTROLS (100 Marks)

PAPER 1: THE CONSTITUTION OF INDIA AND ART OF ADVOCACY (100 Marks)

PART I: THE CONSTITUTION OF INDIA – ICAI SELF PACED MODULES

• Introduction: Preamble, Features, Sources, the Union and its Territory, Citizenship, Fundamental Rights, Duties and Directive Principles.
• Government of Union: The Executive, Parliament, Judiciary.
• Government of States: The Executive, State Legislature, High courts in the States.
• Relation between Union and the States: Legislative relations, Administrative relations, Financial relations.
• Emergency Provisions
• Procedure for Amendments

PART II: ART OF ADVOCACY – ICAI SELF PACED MODULES

1. Development of Legal System in India
2. Representation by Chartered Accountants in Tribunals
3. Basic Rules of drafting and pleading

Note: If new legislations are enacted in place of the existing legislations, the syllabus would include the corresponding provisions of such new legislations with effect from a date notified by the Institute.

The specific inclusions/exclusions in the various topics covered in the syllabus will be effected every year by way of Study Guidelines, if required.

PAPER 2: PSYCHOLOGY & PHILOSOPHY – 100 MARKS

SECTION A: PSYCHOLOGY – ICAI SELF PACED MODULES

• Introduction (Definition, Orientation and Scope)
• Personality
• Individual level psychological process
• Psychological processes in Organizations

SECTION B: PHILOSOPHY – ICAI SELF PACED MODULES

• General Discussions on Philosophy and Reasoning
• Critical Thinking and Reasoning
• Ethics: Who we are & How we ought to conduct ourselves
• Usefulness of Philosophy in Contemporary life (especially for CAs)

PAPER 3: ENTREPRENEURSHIP AND START-UP ECOSYSTEM – 100 MARKS

• Part A: Introduction to Entrepreneurship & Startups
• Part B: Startup Registration
• Crafting business models and Lean Start-ups
• Product Development
• Pitching the idea and presentation
• Institutions Supporting Small Business Enterprises
• Funding & Valuation
• Legal considerations for a Startup
• Startup Incubators & Acceleration
• Miscellaneous

PAPER 4: DIGITAL ECOSYSTEM AND CONTROLS – 100 MARKS

• Governance and Management of Digital Ecosystem
• Information Systems Life Cycle
• Information Systems’ Control
• Digital Data and Analysis

Other Important & Relevant Sources Related to ICAI New Scheme 2023/2024