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CHANGES IN CA FINAL FINANCIAL REPORTING EXAM FOR MAY 2016 EXAM
ICAI HAS ISSUED ADDITIONAL STUDY MATERIAL FOR CA FINAL FINANCIAL REPORTING EXAM
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1.CHANGES IN CA FINAL DIRECT TAX AND INDIRECT EXAM FOR MAY 2016
2 Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
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1.CHANGES IN CA FINAL DIRECT TAX AND INDIRECT EXAM FOR MAY 2016
2 Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
SELECTED CASE LAWS FOR DIRECT TAX AND INDIRECT TAX FOR MAY 2016 FOR CA FINAL
ICAI HAS ISSUED SELECTED CASE LAWS FOR MAY 2016 EXAMS FOR DIRECT TAX AND INDIRECT TAX
GENERALLY 30 MARKS PAPER COMES FROM THE CASE LAWS.
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FINAL STUDENTS CAN ALSO DOWNLOAD
1.CHANGES IN CA FINAL DIRECT TAX AND INDIRECT EXAM FOR MAY 2016
2 Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
GENERALLY 30 MARKS PAPER COMES FROM THE CASE LAWS.
DOWNLOAD LINK
FINAL STUDENTS CAN ALSO DOWNLOAD
1.CHANGES IN CA FINAL DIRECT TAX AND INDIRECT EXAM FOR MAY 2016
2 Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
CHANGES IN CA FINAL DIRECT TAX AND INDIRECT EXAM FOR MAY 2016
ICAI HAS ISSUED SUPPLEMENTARY STUDY MATERIAL FOR CHANGES APPLICABLE FROM MAY 2016 EXAMS.
DOWNLOAD AMENDMENTS AND CHANGES FOR DIRECT TAX AND INDIRECT TAX FOR MAY 2016 EXAMS FROM BELOW LINK
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DOWNLOAD AMENDMENTS AND CHANGES FOR DIRECT TAX AND INDIRECT TAX FOR MAY 2016 EXAMS FROM BELOW LINK
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Announcement regarding Non-application of AS 30, AS 31 and AS 32 in the Final Course Paper 1: Financial Reporting
The entire IAS 39 “Financial Instruments: Recognition and Measurement”, on which AS 30 “Financial Instruments: Recognition and Measurement” was based, has been replaced by IFRS 9 “Financial Instruments”. Therefore, the Government of India opted to notify Ind AS 109 “Financial Instruments” in correspondence to IFRS 9 and not IAS 39. Also, AS 30, AS 31 and AS 32 on ‘Financial Instruments’ were earlier proposed to be made mandatory for Level I entities only. However, after notification of Ind AS in February, 2015, these entities will be applying the provisions stated in Ind AS 32, Ind AS 107 and Ind AS 109 and not AS 30, AS 31 and AS 32 for accounting of financial instruments. Therefore, it is felt appropriate to make applicable Ind AS 32, Ind AS 107 and Ind AS 109 in place of AS 30, AS 31 and AS 32 to the topic ‘Accounting for Financial Instruments’.
Accordingly, it has been decided to make Ind AS 32 “Financial Instruments: Presentation”, Ind AS 107 “Financial Instruments: Disclosures” and Ind AS 109 “Financial Instruments” applicable on the topic ‘Accounting for Financial Instruments’ instead of AS 30 “Financial Instruments: Recognition and Measurement”, AS 31 “Financial Instruments: Presentation” and AS 32 “Financial Instruments: Disclosures” from May, 2016 examinations for Paper 1 : Financial Reporting at the Final level.
Further, it may also be noted that existing Accounting Standards as already given in the study material will continue to be part of the syllabus alongwith the topic “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)”, which has been recently included in the syllabus from May, 2016 examination and onward. Thus for the remaining topics of the syllabus of Financial Reporting paper, existing Accounting Standards will still be applicable.
OFFICIAL NOTIFICATION
Accordingly, it has been decided to make Ind AS 32 “Financial Instruments: Presentation”, Ind AS 107 “Financial Instruments: Disclosures” and Ind AS 109 “Financial Instruments” applicable on the topic ‘Accounting for Financial Instruments’ instead of AS 30 “Financial Instruments: Recognition and Measurement”, AS 31 “Financial Instruments: Presentation” and AS 32 “Financial Instruments: Disclosures” from May, 2016 examinations for Paper 1 : Financial Reporting at the Final level.
Further, it may also be noted that existing Accounting Standards as already given in the study material will continue to be part of the syllabus alongwith the topic “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)”, which has been recently included in the syllabus from May, 2016 examination and onward. Thus for the remaining topics of the syllabus of Financial Reporting paper, existing Accounting Standards will still be applicable.
OFFICIAL NOTIFICATION
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