CA Intermediate Advanced Accounting Amendments for May 2018 - CAprep18
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CA Intermediate Advanced Accounting Amendments for May 2018

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CA Intermediate (CA IPCC New Course) Advanced Accounting Amendments for May 2018

Advanced Accounting is a subject that enables CA students to acquire the ability to apply specific Accounting Standards to different transactions and events in a real-life scenario where a student has to prepare and present financial statements of varied business entities.

The Amendments for Advanced Accounting for CA Intermediate is compiled by ICAI keeping in mind the requirements of the students to practice, revise and solve problems to score more. It also keeps students abreast of the latest developments in the syllabus. Also, the AMENDMENTS  is extremely student-friendly. They are the ultimate study guide for students appearing for the CA Intermediate in the May 2018 attempt. 

List of Applicable Accounting Standards

AS7 : Construction Contracts

AS9 : Revenue Recognition

AS14: Accounting for Amalgamations

AS18 : Related Party Disclosures

AS19:   Leases

AS20 :  Earnings Per Share

AS24 :  Discontinuing Operations

AS26 :  Intangible Assets

AS29 :  Provisions, Contingent Liabilities and Contingent Assets.

List of Applicable Guidance Notes issued by ICAI on specified accounting aspects 

The Study Guidelines containing the List of applicable Guidance Notes is given as Annexure.

Applicability of the Companies Act, 2013 and other Legislative Amendments for May 2018 Examination

The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2017 will be applicable for May, 2018 Examination.

Non-Applicability of Ind AS 

The Ministry of Corporate Affairs has notified Companies  (Indian  Accounting  Standards)  Rules, 2015 on 16th February, 2015, for compliance by certain class of  companies.  These Ind AS do not  form part of the syllabus and hence are not applicable.

ANNEXURE: Study Guidelines 

List of applicable Guidance Notes issued by ICAI on specified accounting aspects 

  1. Guidance Note on Terms Used in Financial Statements.
  2. Guidance Note on Accrual Basis of Accounting.
  3. Guidance Note on Accounting for Corporate Dividend Tax.
  4. Guidance Note on Accounting for Employee Share-base Payments
  5. Guidance Note on Accounting for Employee Share-base Payments.Guidance Note on Accounting for Credit Available in Respect  of  Minimum  Alternative  Tax under the Income-tax Act, 1961.
  6. Guidance Note on Accounting for Real Estate Transactions (revised 2012)
  7. Guidance Note on Turnover in case of Contractors.
  8. Guidance Note on Schedule III to the Companies Act, 2013.

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