Amendments applicable for IPCC May 18 In simple language

 

Amendments applicable for IPCC May 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.

Amendments applicable IPCC May 18 simple language

Accordingly, amendments made on 31st March, 2016 by the Ministry of Corporate Affairs in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 are applicable for May 18 examination both at the Intermediate (IPC) and Final levels.

Refer this Notification from ICAI :- http://icai.org/new_post.html?post_id=12689&c_id=342

Chapter Name – Following chapter is added from may 15
Financial Statements of Companies
  • 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
  • Dividend
Other small topics to be added :
Note 1 :- All the above mentioned topics are amended as per new Companies Act, 2013.
Note 2:-  Please note that the Schedule III is exactly same as Schedule VI of companies act, 1956 only the name have been changed.
Chapter name – Accounting for Bonus Issue 
Section 63 of Companies Act, 2013 related to issue of bonus shares have been ammended

Amendments applicable for IPCC May 18 Paper 2 : Law, Ethics & Communication –

additional sections in Companies Act, 2013 which are notified by MCA i.e. Section 1-122 are applicable for May 2015 Onwards syllabus .
Note: Its better to buy new book for company law.

Amendments applicable for IPCC May 18 Paper 3 : Cost & FM – No change

Amendments applicable for IPCC May 18  Paper 4 : Taxation –

the changes will be as per latest finance act , we will provide you the same very shortly

Amendments applicable for IPCC May 18 Paper 5 : Advance Accounts –

Exclusion from the CA syllabus Intermediate (IPCC) Paper 5 : Advanced Accounting

  • Financial Reporting of Electricity Companies

Amendments applicable for IPCC May 18 Paper 6 : Auditing

 – There are just slight changes in Company Audit 1 and 2 chapter

 

Amendments applicable for IPCC May 18 Paper 7 : IT & SM – 

No changes as of now, Still check RTP for more changes and cross check amendments given above.

 

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