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Tuesday, 21 June 2016

Amendments applicable for November 2016 for Ca Ipcc


Amendments applicable for IPCC Nov 2016 In simple language

Amendments applicable for IPCC Nov 2016

Paper 1 : Accounts
Non Applicability of IND AS : Any new AS or Ind AS or revised version of AS or Ind AS, notified by the MCA, is being made applicable for CA examination only after one year of its notification.
Accordingly, amendments made on 31st March, 2016 by the Ministry of Corporate Affairs in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 are not applicable for November, 2016 examination both at the Intermediate (IPC) and Final levels.
Refer this Notification from ICAI :- http://icai.org/new_post.html?post_id=12689&c_id=342

Chapter Name – Following chapter is added from may 15
Financial Statements of Companies
Meaning of company
Books of accounts to be maintained at registered office.
List of statuary books to be maintained.
Annual Return of company
Schedule III of companies Act, 2013
Managerial remuneration
Dividend
Other small topics to be added :
Note 1 :- All the above mentioned topics are amended as per new Companies Act, 2013.
Note 2:- Please note that the Schedule III is exactly same as Schedule VI of companies act, 1956 only the name have been changed.
Chapter name – Accounting for Bonus Issue
Section 63 of Companies Act, 2013 related to issue of bonus shares have been ammended
Amendments applicable for IPCC Nov 2016

Paper 2 : Law, Ethics & Communication –
additional sections in Companies Act, 2013 which are notified by MCA i.e. Section 1-122 are applicable for May 2015 Onwards syllabus .
Note:Its better to buy new book for company law.

Amendments applicable for IPCC Nov 2016

Paper 3 : Cost & FM – No change
Amendments applicable for IPCC Nov 2016

Paper 4 : Taxation – the changes will be as per latest finance act , we will provide you the same very shortly

Amendments applicable for IPCC Nov 2016

Paper 5 : Advance Accounts –
Exclusion from the CA syllabus Intermediate (IPCC)

Paper 5 : Advanced Accounting
Financial Reporting of Electricity Companies
Amendments applicable for IPCC Nov 2016

Paper 6 : Auditing – There are just slight changes in Company Audit 1 and 2 chapter, which you can find in RTP which will be out soon.Download the Latest Study Mat For Audit Form here :- IPCC Auditing and Assurance Study Material Practice Manual for May 2015 Exams
Amendments applicable for IPCC Nov 2016

Paper 7 : IT & SM – No changes as of now, Still check RTP for more changes and cross check amendments given above.