CA Final Financial Reporting Amendments Nov 18
CA Final Financial Reporting Amendments Nov 18 are fewer in number as comparison to other subject. This subject is known for its frequent amendments in syllabus but for Nov 2018 examination it has some amendments which we will discuss later in this post. So do read CA Final Financial Reporting Amendments Notes Nov 18 till the end.
Amendments in CA Financial Reporting came in majorly Accounting Standards portion. Students usually searched on google regarding CA Final Financial Reporting Syllabus, Amendments in CA Financial reporting for Nov 2018, whether IFRS are applicable for Nov 18 CA final attempt, Whether INDas are applicable for Nov 2018 examination. So remove all of your confusion here are the amendments which are applicable from Nov 2018 attempt onwards.
Inclusions: CA Final Financial Reporting NOV 18
|1.||Application of Existing Accounting Standards||AS 15 : Employee Benefits |
AS 21 : Consolidated Financial Statements
AS 23 : Accounting for Investments Associates in Consolidated Financial Statements
AS 25 : Interim Financial Reporting
AS 27 : Financial Reporting of Interests in Joint Ventures
AS 28 : Impairment of Assets
|2.||Application of Guidance Notes issued by ICAI on specified accounting aspects.||1. Guidance Note on Measurement of Income Tax Expense for Interim Financial Reporting in the context of AS 25 |
2. Guidance Note on Applicability of AS 25 to Interim Financial Results
3. Guidance Note on Combined and Carve–Out Financial Statements.
4. Guidance Note on Accounting for Derivative Contracts
5. Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activities
6. Guidance Note on Accounting for Self-Generated Certified Emission Reductions (CERs)
7. Guidance Note on Accounting by Dot-Com Companies
|1 and 4-9||Application of Existing Accounting Standards and Indian Accounting Standards||1. On Ind AS Discounting of deferred debts (retention money) (Opinion finalised by the Committee on 2.9.2016). (https://resource.cdn.icai.org/47574eac37373-11.pdf) |
2. On AS Adjustment of the effect of first recognition of group gratuity liability against opening balance of reserves and surplus as an appropriation in the current financial (Opinion finalised by the Committee on 21.7.2016). (https://resource.cdn.icai.org/33925eac23624-5.pdf)
3. Accounting treatment of pension liability post-separation. (Opinion finalised by the Committee on 4.2015) http://126.96.36.199/eacicai/HTML/35/1.html
4. Requirement for preparation of Complete/ Condensed set of financial statements (Opinion finalised by the Committee on 6.2015.) http://188.8.131.52/eacicai/HTML/35/7.html
5. Amortisation of SAP license and accounting for annual renewal fee. (Opinion finalised by the Committee on 23.4.2015.) http://184.108.40.206/eacicai/HTML/35/3.html
Exclusions : CA Final Financial Reporting Nov 18
|4.||Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements||Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’ Appendix A: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds Appendix B: Liabilities arising from Participating in a Specific Market — Waste Electrical and Electronic Equipment|
|6.||Application of Industry specific and Transaction Specific Indian Accounting Standards (other than Business Combination, Financial Instruments and Share Based Payment)||Indian Accounting Standard (Ind AS) 29 : Financial Reporting in Hyper inflationary Economies |
Indian Accounting Standard (Ind AS) 104 : Insurance Contracts
Indian Accounting Standard (Ind AS) 106 : Exploration for and Evaluation of Mineral Resources
- In the above tables ‘A’ and ‘B’, in respect of the topics of the syllabus specified in column (2) the related inclusion / exclusion is given in column (3).
- August 2017 edition of the Study Material is relevant for November, 2018 Students are advised to read the same alongwith the corrigendum uploaded on the website.
- Except the exclusions mentioned (above in Table B) from the syllabus, the entire content included in the August 2017 edition of the Study Material is relevant for the said
For understanding the amendment class with more clarity download the following files which contains the amendments applicable for Nov 2018 exams.
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