Accounts Amendments & Notification for IPCC May 2013 Exams
Accounts Amendments For IPCC May 2013:-
Paper 1: Accounting amendments and notifications for IPCC May 2013:-
Accounting Standards 1, 2, 3, 6, 7, 9, 10, 13 and 14 are covered in the syllabus.
The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards shall be applied for all companies falling under Phase I to Phase III as prescribed under the roadmap issued by the core group.
Students may note that Ind ASs are not applicable for the students appearing in May, 2013 Examination. However, Accounting Standards as specified in the syllabus are applicable for the students appearing in May, 2013 Examination.
Paper 5: Advanced Accounting amendments & notification for IPCC May 2013:-
A. Pronouncements
Accounting Standards 4, 5, 11, 12, 16, 19, 20 26 and 29 are covered in the syllabus.
B. Notification relevant for May, 2013 examination
1. Maintenance of Cash Reserve Ratio [CRR] at 4.25 per cent.
2. Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011 on Accounting Standard 11 relating to “The Effects of Changes in Foreign Exchange Rates”
In order to resolve the problems faced by industry in proper implementation of Para 46A of AS 11 inserted vide notification 914(E) dated 29.12.2011, on account of Para 6 of AS 11 and Para 4(e) of AS 16, MCA had further clarified vide Circular No.
25/2012 dated 09.08.2012 that Para 6 of AS 11 and Para 4(e) of the AS 16 shall not apply to a company which is applying clause Para 46A of AS 11.
3. Statutory Liquidity Ratio for Local Area Banks be reduced from 25 per cent to 23 per cent of their Net Demand and Time Liabilities (NDTL) with effect from the fortnight beginning August 11, 2012.
Note : Non-Applicability of Ind ASs for May, 2013 examination
The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards shall be applied for all companies falling under Phase I to Phase III as prescribed under the roadmap issued by the core group.
Students may note that Ind ASs are not applicable for the students appearing in May, 2013 Examination. However, Accounting Standards as specified in the syllabus are applicable for the students appearing in May, 2013 Examination.
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Filed in: Amendments • CA • CA PCC/IPCC
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mr. noor.. please give me some question with solution for advanced accounting from each chapter where revised schedule vi is applicable on my mail address rupeshkrnirala@gmail.com.
Download latest revised study material from icai website for sum practice. And when n where company’s sum are asked then we must have to use revised sch 6.
mr. noor.. please give me some question with solution for advanced accounting from each chapter where revised schedule vi is applicable on my mail address-krips2828@live.com
some question with solution for advanced accounting with revised schedule vi….
Sorry bro. I can not help in giving sums of revised schedule vi cauz m busy in my CA exam preparation. You should refer practice manual or study material for the same.
sir i want details about revised scheduled 6
mr. noor..can you please tell me – is cash flow statement applicable for advanced accounting?
can u plz tell me first 100 pages of information technology of study material is applicable for may ipcc exam?
Not applicable
Please tell me about i.t.what chapters are eliminated from i.t syllabus and not applicable for 2013may exams.
In IT all unit of chapter 1 except Software unit are removed from syllabus….
could u plz tell me whats r the amendments in AS OF CA FINALS? WHETHERifrs is coming india in place of AS.. and what will be applicable for nov2014 ca final exam
?
IFRS is not applicable in May 2013
is there any changes in electricity company
is there any amendment in electricity also?? for may 2013
pls mention rate under banking chapter of advance accounting for standared & sub standared assets..
is there any changes in electricity company
Please inform me,IS there any changes will be made for IPCC may2014 attempt? and new amendments in any subject of my IPCC syllbus