What are the CA Final Elective Papers and which one to choose?

The new buzz in the recent past in our curriculum for CA Final is the introduction of Open book in Paper 6, which is an elective paper replacing ISCA from old syllabus. The student gets to choose the subject of their interest. New course was revised to develop the exposure of CA aspirants not just confining to Indian market but also on par with International Standards.

CA final Elective Papers available to choose are,


Students are required to opt for one of these elective paper and it’s an open book and case study based. Before we take you through the papers in detail, will give an outlook from the exam point of view! Are you confused as to which subject to choose?? What is the pass percentage?? Let us understand how it works,

Can CA Final Elective Paper be changed??

At the time of registration to final, student has to select one elective. Institute has also clarified that in case the student wants to change the elective paper opted at the time of registration, it is possible for the student the elective before appearing for the examination at the time of registering for the exam. However, once the student submits the examination form, he/she cannot change the elective. In case due to delayed success, the student wasn’t able to take the examination in this attempt or unable to clear, the student does have the option of choosing another elective in the subsequent examination.

Nature and Duration of the paper

  • It’s an open-book examination, regardless of the elective
  • 4-hour paper. Other papers are for 3 hours

Which subject should to choose/ opt for??

SUBJECT NAME (PAPER:6)CONTENT/SYLLABUS (As issued by ICAI)Who should opt this subject?
6A: RISK MANAGEMENTIntroduction to Risk, Source and Evaluation of Risks, Risk Management, Quantitative Analysis, Risk Model, Credit Risk Measurement and Management, Risk associated with Corporate Governance, Enterprise and Operational Risk ManagementIdeal for those who want to pursue a career in risk control, risk management or credit risk management and risk analysis.
6B: FINANCIAL SERVICES AND CAPITAL MARKETSGlobal Financial Markets, Impact of various policies of Financial Markets, Primary and Secondary Capital Markets, Money Market, Institutions and Intermediaries, Commodity Market, Banking-Management, Banking as a source of Capital including NBFCs, Mutual Funds, Private Equity, Investment Banking, Credit Rating, Treasury Operations, Risk Management, Credit Derivatives, SEBI GuidelinesIdeal for those who want to pursue a career in investment banking, equity research, financial market analysis. This field is among the highest paid fields globally.
6C: INTERNATIONAL TAXATIONTransfer Pricing provisions and other provisions relating to taxation of international transactions and non-resident taxation under Income Tax Act, 1961; Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015; Overview of Model Tax Conventions; Tax Treaties, Application and Interpretation; Anti-Avoidance Measures; Taxation of E-Commerce Transactions.Ideal for those who want to be a Professional Tax Consultant or Tax Advisor. The advantage is that Apart from the law related to Black Money, the syllabus matches the 30 marks portion of Paper 7. Hence, preparation of Paper 7 can ensure the preparation of this paper, if this is elected.
6D: ECONOMIC LAWSWTO, Competition Act, 2002; Real Estate Act, 2016;Insolvency and Bankruptcy Code, 2016; Prevention of Money Laundering Act, 2002; Foreign Exchange Management Act, 1999; Prohibition of Benami Property Transactions Act, 1988. (Each Act with respective Rules and Regulations)This one requires strong fundamentals and is ideal for those who want to make a career in legal counseling, representation in courts.
6E: GLOBAL FINANCIAL REPORTING STANDARDSConceptual Framework for Financial Reporting as per IFRS, Application of International Financial Reporting Standards, Significant differences between IFRS and US GAAP.Ideal for those who want to make a career in Financial Accounting, Consolidation, and related Reporting practices.
6F: MULTIDISCIPLINARY CASE STUDYThis paper will include case studies from the fields like Financial Accounting and Reporting, Audit and Assurance, Taxation, Financial Management, Management Accounting, Corporate Laws, Business Strategy, and Management.This paper will test the intellectual and analytical abilities of the students in the core areas of the course. Ideal if you want to be a professional consultant or advisor.

Which is the most scoring CA Final elective paper??

This is a subjective question and depends upon the particular attempt. With the historic data, number of students opting for Risk Management, Economic Laws & International Taxation is high and pass percentage in Risk management and International Taxation have gone up sharply.

Statistics of CA Final elective paper as per RTI are as follows,

PaperAppearedPassedPass % Top Marks
Year (May-18)
6A: Risk Management1409467%86
6B: Financial Services and Capital Markets67837155%92
6C: International Taxation119067657%93
6D: Economic Laws44626860%94
6E: Global Financial Reporting Standards21410449%90
6F: Multidisciplinary Case Study10440%81
Year (Nov-18)
6A: Risk Management63951781%95
6B: Financial Services and Capital Markets152476450%77
6C: International Taxation4629344774%78
6D: Economic Laws1378113582%88
6E: Global Financial Reporting Standards48319841%67
6F: Multidisciplinary Case Study301757%65
Year (May-19)
6A: Risk Management1837168892%95
6B: Financial Services and Capital Markets1683128776%91
6C: International Taxation10654334331%95
6D: Economic Laws4811406384%95
6E: Global Financial Reporting Standards59340869%99
6F: Multidisciplinary Case Study221464%77

Choosing an elective paper isn’t just about scoring but to an extent shall influence in your choice of field after qualifying. Take a decision and make the decision right. All the Best!!

Click here for CA Final Classes at KSA https://ksacademy.co.in/ksa-ca-final-courses.php

Happy Learning!! J J J

Disclaimer: For the purpose of this article, we have referred to other sites for enhanced clarity and data. We extend our heartfelt gratitude.

Next Read: Best CA Institute in Tamil Nadu, India – Ks Academy »

Leave a Reply

Your email address will not be published. Required fields are marked *