Elective Subjects in CA Finals – Which Elective Subject Should a Student Choose

The CA Final Elective paper was introduced by ICAI in 2018. This states that in 6th paper, CA aspirants can select a subject of their choice among the six given choices. The purpose behind this change was to bring a qualitative reform in the education system. To make the students more independent, strong and real-world ready, this elective paper was brought into effect. This elective paper scheme give chance to the students to select their specialization. That simply means, now the students can select their profile as per their choices. The six choices for this paper include the following subjects as the options:

1. Risk Management
2. FSCM – Financial Services & Capital Market
3. International Taxation
4. Economic Laws
5. GFRS – Global Financial Reporting Standards
6. Multi-Disciplinary Case Study

When this scheme was launched, it brought a good and a bad impact all along. The good impact is that now students have no need to cover up all the topics beyond their profile and specialty for the paper. It saves their energy and time that the students can utilize in preparing for other non-elective papers. But the bad impact is that the candidates remain with no last resort for the change in their field. In other words, if a student selects a particular field or subject and later desires to change his field when he enters the real world, then he will be left with no option other than accepting what he has already chosen. The process of switching the field shall be too typical at that particular point.
Thus, it become very necessary to choose your elective subject carefully. The students have to keep a few points in mind before choosing your subject. Following are the things that every student must know before selecting the right option for himself.

How to Select the Elective Subject in CA Finals

Making the right decision at this point of time may not easy, but choosing the best for yourself shall be the priority. So, the students should be mentally prepared for this phase. You must be confident for the following main points before going with any one subject

1. What is your real passion – The candidate must know what is his real passion and specialty. In which subject, the student has better knowledge and in which subject he has interest.
2. Which subject you can easily Execute in real life – Study the core idea of each subject and analyze how they are used in real world. Then considering your interest, go with the subject in which you have confidence that you can easily execute the concept in real life.
3. Which subject is more scoring – Before making the conclusion, the students should analyze the syllabus and pattern of each subject. The Student must know in which subject he can score more without the fear of loosing the marks.
4. Which Subject has higher passing rate – Research in which subject there is a higher passing rate. It reduces the risk of failing and wasting year.

So, these were the points, every student must keep in mind before choosing your subject for CA Finals.