Amendments applicable for IPCC Nov 18 In simple language
Amendments applicable for IPCC Nov 18 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.
Applicability of Accounting Standards:
|AS 1||Disclosure of Accounting Policies|
|AS 2||Valuation of Inventories|
|AS 3||Cash Flow Statements|
|AS 7||Construction Contracts|
|AS 9||Revenue Recognition|
|AS 10||Property, Plant and Equipment|
|AS 13||Accounting for Investments|
|AS 14||Accounting for Amalgamations|
Note: Amendments made by the MCA in certain Accounting Standards on 30.3.2016 are also applicable for November, 2018 examination.
- 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
Amendments applicable for IPCC Nov 18 Paper 2 : Law, Ethics & Communication :
The provisions of Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the business laws, as amended by concerned authority, including significant notifications and circulars issued up to 30th April, 2018, are applicable for November, 2018 examination.
Amendments applicable for IPCC Nov 18 Paper 4 : Taxation :
Applicability of the Finance Act, Assessment Year etc. for November, 2018 examination
Section A: Income Tax
The provisions of income-tax law, as amended by the Finance Act, 2017, including significant circulars and notifications issued and other legislative amendments made upto 30th April, 2018, are applicable for November, 2018 examination. The relevant assessment year for income-tax is A.Y. 2018-19. The Study Guidelines containing the list of topic-wise exclusions from the syllabus is attached as Annexure I.
Section B: Indirect Taxes
The provisions of CGST Act, 2017 and IGST Act, 2017, including significant circulars and notifications issued and other legislative amendments made upto 30th April, 2018, are applicable for November, 2018 examination. The Study Guidelines containing the list of topic-wise exclusions from the syllabus is attached as Annexure II.
Amendments applicable for IPCC Nov 18 Paper 5 : Advance Accounts –
Exclusion from the CA syllabus Intermediate (IPCC) Paper 5 : Advanced Accounting
- Financial Reporting of Electricity Companies
Applicability of Accounting Standards
AS 4 : Contingencies and Events occurring after the Balance Sheet Date
AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
AS 11 : The Effects of Changes in Foreign Exchange Rates AS 12 : Accounting for Government Grants
AS 16 : Borrowing Costs AS 19 : Leases
AS 20 : Earnings Per Share AS 26 : Intangible Assets
AS 29 : Provisions, Contingent Liabilities and Contingent Assets.
Amendments applicable for IPCC Nov18 Paper 6 : Auditing
Applicability of the Companies Act, 2013:
- The relevant notified Sections of the Companies Act, 2013 and other legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities, cut-off date will be 30th April,
- Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs on 29thMarch, 2016 is applicable for November, 2018
Amendments applicable for IPCC May 18 Paper 7 : IT & SM
Hope you have better idea of the changes in Nov 16exams for more check official notification from here by icai which is released a way back :- CA IPCC Nov 2018 SYLLABUS
OFFICIAL ICAI Announcement for Annexure 1 and 2 above reffered :-
- Applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for November, 2015 – Intermediate (IPC) Examination.