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How To Prepare For CA Final Strategic Financial Management: Subject-Wise Tips | SuperProfs

For those preparing for CA final- the last milestone for becoming a Chartered Accountant, precarious preparation of each subject becomes highly crucial.  When you study CA Final SFM (Strategic Financial Management for CA final), it is important to understand that this subject is designed to help you gain conceptual clarity and to acquaint you with the financial decision-making process. To prepare for CA Final SFM, you must keep in mind certain tips and tricks which can help you score well and give you an edge over other candidates.

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What will you read next?

  1. Old vs New Syllabus | CA Final Strategic Financial Management
  2. How to study CA Final Strategic Financial Management
  3. How to score well in CA Final Strategic Financial Management
  4. Online Resources to prepare well for CA Final Strategic Management

Old vs New Syllabus | CA Final SFM

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A number of subjects have been added to the new syllabus of CA Final SFM while a handful have been deleted or transferred.


  1. Risk Management which includes identification of types of risks, evaluation of financial risks, value at risk, evaluation of appropriate method for financial risk identification and management
  2. Portfolio Management subtopics – Fixed income portfolio, Risk Analysis of Investment in Distressed Securities, Alternative Investment Strategies
  3. Corporate Valuation and Reorganization which includes conceptual framework and methods of valuation
  4. Islamic Finance which includes differences between Islamic finance and other forms of finance, concept of Riba and major Islamic financial instruments


  1. Lease Financing
    1. Break-Even Lease Rental
    2. Cross Border Leasing
  2. Dividend Decision
  3. Financial Services in India – Transferred to Paper 6-A
  4. Mutual Funds – Transferred to Paper 6-A


How to study CA Final SFM

  • You do not have the privilege of doing selective study in any of the papers of CA final. The same holds true when you prepare for CA Final SFM. So do not skip any chapter while preparing.
  • This subject is full of concepts. Focus on understanding the concepts well to get a better grasp over the subject.
  • Make your own notes. They will serve as the best reference for you before your exams.
  • Try to segregate chapters into topics and sub-topics. This will help you to plan and focus well. Practice 2-3 questions from each sub-topic. If you follow this, you will be able to cover your syllabus efficiently.
  • Mentioned below are some high-priority topics:

 Foreign exchange exposure and risk management
 Portfolio Management
 Derivatives Analysis and Valuation
 Security Valuation
 Mergers, Acquisitions and Corporate Restructuring

  • Try to finish FOREX, Portfolio Management and Derivatives first. They are highly relevant and crucial topics. Once you are done with them, do others. Do not leave any topic.
  • Some of the chapters are inter-related and flow together. You can plan to study and revise them one after another. This will help in saving time and in gaining better conceptual clarity. For your convenience we have done the pairing of chapters that should be studied together:

 Forex and Derivatives
 Equity and Merger & acquisition
 Portfolio management and Mutual Funds

  • Read Derivatives before starting Risk management since many of the concepts of derivatives are used in Risk management.
  • Do not ignore small topics like Factoring and Money Market Instruments.  These are very easy to prepare and can help you fetch those extra marks during the examination
  • Since conceptual clarity is of utmost importance, refer online videos wherever you feel stuck.
  • Revise all topics at least twice before exam.
  • Always practice the revision test papers and mock test papers provided by ICAI. You will definitely get a fair idea about the pattern of paper.
  • Do not only attempt test papers. Analyze your performance and identify topics that need more practice.


How to score well in CA Final SFM

  • ICAI gives 15 minutes to students to read the paper. These 15 minutes are extremely crucial. Use this time to:
    • Read the entire paper properly.
    • Prioritize the questions you want to attempt first. Mark the sequence in which you want to attempt.
  • Almost every paper has 70% questions which are easy/moderate and 30% are difficult. Attempt the 70% first.
  • When you attempt any answer, always mention the concept in the beginning.
  • Give to the point answers. Sometimes even a two-liner is enough and can fetch you marks.
  • Highlight the formula used in the question.
  • Give reasons and show calculations elaborately.

Online resources to prepare for CA Final SFM

May 2022
December 2021
July 2021
January 2021
November 2020
November 2019
May 2019
November 2018
May 2018

You can watch a few demo lectures by SuperProfs for CA and see if you would want to consider subscribing to our video series for a better shot at clearing the CA CPT examination.


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How To Prepare For Risk Management – CA Final Subject-Wise Tips | SuperProfs

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Also Read:

CA final Preparation strategy -A month before an exam: Revision Guide

How to prepare for the CA Foundation: Quick Tips to Clear CA Foundation


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