CHANGES IN IPCC AND FINAL SYLLABUS FROM NOVEMBER 2015 ONWARDS

ICAI HAS ISSUED NOTIFICATION REGARDING CHANGES IN IPCC AND FINAL SYLLABUS FROM NOVEMBER 2015 ONWARDS

CHANGES IN IPCC SYLLABUS:

The topic of “Financial Reporting of Electricity Companies ” would be excluded from the syllabus of  Intermediate (IPC)  Paper 5 : Advanced Accounting and the same would not be applicable from  November, 2015 Examination and onwards. OFFICIAL ANNOUNCEMENT CHANGES IN FINAL SYLLABUS The topic of “Overview of International Accounting Standards (IAS) /  International Financial Reporting Standards (IFRS),  Interpretations by International Financial Reporting Interpretation Committee (IFRIC), Significan t differences vis-a-vis Indian Accounting Standards; Understanding of US GAAPs, Applications of IFRS and US” would be excluded from the syllabus of  Final Paper 1 : Financial Reporting and the same would not be applicable from November, 2015 Examination. Further, the topic of “Introduction of Indian Accounting Standards (Ind AS);  Comparative study of ASs vis-a-vis Ind ASs; Carve outs/ins in  Ind ASs vis-à-vis International Financial Reporting Standards  (IFRSs)” would be included in the syllabus of  Final Paper 1 : Financial Reporting and the same would be applicable from May, 2016 Examination. OFFICIAL ANNOUNCEMENT