CA Electives: What are they? Which one should you choose?

Over the past few years, there has been a notable shift in how a business functions. Today, entrepreneurial roles go beyond the realm of traditional accounting and auditing. There has been increasing levels of international transactions and business complexities. All these factors put together means that there is a great need for CAs to bridge the gap between their competencies and the competencies expected by stakeholders.

To ensure that CAs understand business and finance complexities, the Revised Scheme of Education and Training has introduced the concept of Electives. The reason behind this introduction is simple - specializations are the key to developing competent Chartered Accountants. These electives will allow CAs to take up positions of consultants and advisors who are well versed with the complex and dynamic changes in regulations, legislation, and client expectations.

The seven core subjects are designed to ensure that all CAs are competent in the technical aspects of finance regardless of the specialization they choose. The Elective papers, on the other hand, will be open book and case study based. Following are the electives that one can choose from:



6A Risk Management

6B Financial Services & Capital Markets

6C International Taxation

6D Economic Laws

6E Global Financial Reporting Standards

6F Multidisciplinary Case Study

Now that the basics are out of the way, let’s dive into which specialization is right for you and your career aspirations.

6A Risk Management

This is perhaps one of the most analytical elective available. However, if you are interested in pursuing a career in risk analysis, risk control, risk management and other such careers, this is the right elective for you.

6B Financial Services & Capital Markets

Choose this elective if you are interested in pursuing a career in investment banking, equity research, financial market analysis. This also happens to be amongst the highest paid profession globally.

6C International Taxation

If you are aspiring to be a professional tax consultant or a tax advisor, then this is the right elective for you. One important point to note is that this elective covers about 30 marks of paper 7. If you are preparing for this elective, then you will automatically also be preparing for paper 7.

6D Economic Laws

This particular elective requires that you have a really strong understanding of the fundamentals of law. If you are aspiring to be a legal counsel or want to be a representative at court, this is the one to choose.

6E Global Financial Reporting StandardsThis elective is ideal for those who are aspiring to make a successful career in Financial Accounting, Consolidation, and other Reporting fields.

6F Multidisciplinary Case Study

This paper will test your intellectual and analytical capabilities in the various core subjects of the course. If you are someone aspiring to be a professional consultant or advisor, this is the right elective for you.

Now that you have an understanding of the various electives and which one you should choose, it’s time to start preparing wholeheartedly. Good luck!

27-Mar-2019