Breaking News

IPCC List of Amendments,Standards, Applicable for Nov 2016

CAknowledge

IPCC List of Amendments,Standards, Applicable for Nov 2016 Exams. Due to Change in Companies Act Some Topics of CA IPCC are Changed and Every Student is Confused for “What is Changed” Here we are providing a list of IPCC List of Amendments,Standards, Guidance Notes Applicable for Nov 2016. Recently We Provide CA IPCC Result Date May 2016 and CA IPCC Question Papers May 2016 and Suggested Answers for May 2016 Exams. IPCC Nov 2016 Exams are Near and All Students Wants Changes and Amendments Applicable for Nov 2016 Exams and Here we provide list of all applicable amendments, Notifications, Guidance Notes, Accounting Standards etc. You can also Download CA IPCC Exam Time Table for Nov 2016 Exams from Below. Now you can scroll Down Below and Find IPCC List of Amendments,Standards, Applicable for Nov 2016 Exams.

If you like this article then please like us on Facebook so that you can get our updates in future ……….and subscribe to our mailing ”freely“

Recommended Articles

IPCC List of Amendments,Standards, Applicable for Nov 2016

IPCC List of Amendments,Standards, Applicable for Nov 2016

Paper 1: Accounting

Accounting Standards

AS 1: Disclosure of Accounting Policies
AS 2: Valuation of Inventories
AS 3: Cash Flow Statements
AS 6: Depreciation Accounting
AS 7 : Construction Contracts (Revised 2002)
AS 9: Revenue Recognition
AS 10 : Accounting for Fixed Assets
AS 13 : Accounting for Investments
AS 14 : Accounting for Amalgamations

Paper 5: Advanced Accounting

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 AccountingPolicies
AS 11 : The Effects of Changes in Foreign Exchange Rates (Revised 2003)
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.

Read Also – How to pass CA-IPCC in 1st attempt @lines of venkatrao

Applicability of the Companies Act, 2013 and other Legislative Amendments for Paper 1 and Paper 5 : The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 30th April, 2016 will be applicable for November, 2016 Examination

Non-Applicability of Ind ASs for November, 2016 Examination for Paper 1 and Paper 5 : 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 have not been made applicable for November, 2016 Examination.

Non-applicability of Amendments made by MCA in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 for Paper 1 and Paper 5 : Amendments made by MCA on 30.3.2016 in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 have not been made applicable for November, 2016 examination.

Paper 2: Business Laws, Ethics and Communication

The Companies Act, 2013:The relevant sections of the Companies Act, 2013, along with significant Rules/ Notifications/ Circulars/ Clarifications/ Orders issued by the Ministry of Corporate Affairs upto 30th April, 2016. For updates, see http://www.mca.gov.in/

The Negotiable Instruments (Amendment) Act, 2015:The Negotiable Instruments (Amendment) Act, 2015 received the assent of the president on 26th December, 2015 and has been notified in the Official Gazette on 29th December, 2015 by the Ministry of Law and Justice.

This is an Act further to amend the Negotiable Instruments Act, 1881 and shall be deemed to have come into force on the 15th day of June, 2015.For detail click the following link NI-Act-gazette-notification-26.12.2015.pdf

The Payment of Bonus (Amendment) Act, 2015: An Act further to amend the Payment of Bonus Act, 1965. The Act received the assent of the President on the31st December, 2015, and published in the Official gazette on 1st January 2016 by Ministry of Law and Justice. It shall be deemed to have come into force on the 1st day of April, 2014.For detail click the following link

http://www.prsindia.org/uploads/media/Payment%20of%20Bonus/Payment%20of%20Bonus%20Bill,%202015.pdf

Non-applicability of the following sections of the Companies Act, 2013

S.No Section No. Section title
1. Section 48 Variation of shareholders’ right
2. Section 66 Reduction of share capital
3. Section 75 damages for fraud
4. Section 97 Power of tribunal to call AGM
5. Section 98 Power of Tribunal to call meetings of members, Etc
6. Section 99 Punishment for default in complying with provisions of sections 96 to 98

You Nov Also Like – CA IPCC Final Exam Time Table Nov 2016

CA IPCC Tax Amendments Applicable fro Nov 2016 Exams

Applicability of the Finance Act, Assessment Year etc. for November, 2016 examination

The provisions of income-tax and indirect tax laws, as amended by the Finance Act, 2015, including circulars and notifications issued upto 30th April, 2016, are applicable for November, 2016 examination. The relevant assessment year for income-tax is A.Y. 2016-17.

For more amendments Please visit on following article

Paper 6: Auditing and Assurance

I. Standards on Auditing (SAs)

S.No SA Title of Standard on Auditing
1 SA 200 Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
2 SA 210 Agreeing the Terms of Audit Engagements
3 SA 220 Quality Control for Audit of Financial Statements
4 SA 230 Audit Documentation
5 SA 240 The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements
6 SA 250 Consideration of Laws and Regulations in An Audit of Financial Statements
7 SA 260 Communication with Those Charged with Governance
8 SA 265 Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
9 SA 299 Responsibility of Joint Auditors
10 SA 300 Planning an Audit of Financial Statements
11 SA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
12 SA 320 Materiality in Planning and Performing an Audit
13 SA 330 The Auditor’s Responses to Assessed Risks
14 SA 402 Audit Considerations Relating to an Entity Using a Service Organization
15 SA 450 Evaluation of Misstatements Identified during the Audits
16 SA 500 Audit Evidence
17 SA 501 Audit Evidence – Specific Considerations for Selected Items
18 SA 505 External Confirmations
19 SA 510 Initial Audit Engagements-Opening Balances
20 SA 520 Analytical Procedures
21 SA 530 Audit Sampling
22 SA 540 Auditing Accounting Estimates, Including Fair Value Accounting Estimates, and Related Disclosures
23 SA 550 Related Parties
24 SA 560 Subsequent Events
25 SA 570 Going Concern
26 SA 580 Written Representations
27 SA 600 Using the Work of Another Auditor
28 SA 610 Using the Work of Internal Auditors
29 SA 620 Using the Work of an Auditor’s Expert
30 SA 700 Forming an Opinion and Reporting on Financial Statements
31 SA 705 Modifications to the Opinion in the Independent Auditor’s Report
32 SA 706 Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
33 SA 710 Comparative Information – Corresponding Figures and Comparative Financial Statements
34 SA 720 The Auditor’s Responsibility in Relation to Other Information in Documents Containing Audited Financial Statements

II. Statements

Statement on Reporting under Section 227(1A) of the Companies Act, 1956 (Section 143 of the Companies Act, 2013).

III. Guidance Notes

  1. Guidance Note on Audit of Inventories.
  2. Guidance Note on Audit of Debtors, Loans and Advances.
  3. Guidance Note on Audit of Investments.
  4. Guidance Note on Audit of Cash and Bank Balances.
  5. Guidance Note on Audit of Liabilities.
  6. Guidance Note on Audit of Revenue.
  7. Guidance Note on Audit of Expenses.
  8. Guidance Note on Reporting under section 143 (3) (f) and (h) of the Companies Act, 2013.

IV Applicability of the Companies Act, 2013

(i)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, 2016.

(ii) Companies (Auditor’s Report) Order, 2016 issued by Ministry of Corporate Affairs on 29th March, 2016 is applicable for November, 2016 Examination.

Ask Your Query

About Raju Choudhary

Article by Raju Choudhary Raju has written 537 articles. If you like This post, you can follow CAknowledge on Twitter. Subscribe to CAknowledge feed via RSS or EMAIL to receive instant updates.

17 comments

  1. I want to important chapters in it & s m becouse of it and sm totaly theory subject and also very difficult to remember please guide me sir how to study and remember

  2. sir is there any amendments are applicable for nov-2016

  3. Dear Sir, you conveyed us the topics that are ammended, example : AS 5.. But what changes are made in AS 5? Kindly explain those.. So that it would be helpful for us. Just merely providing the list of topics changed doesn’t help us in examination. Kindly provide us a source where we could find, what change is been made.
    Thank You

  4. sir i want to know whether there are any changes in IT&SM applicable for may 2016

  5. Sir I want to know the amendments which are applicable for may 2016 plz notify me

  6. Sir, will all the amendments which are in finance bill 2015, applicable to may 2016 exams??

  7. vinita maheshwari

    sir, i want to know amendments applicable in may 2016. Even all those changes in the syllabus of group2 for may 2016. please notify

  8. Sir,I want to know amendments in 2016 may attempt

  9. sir i want to knw abt the extent of applicability of CARO 2015 for ipcc nov 2015 attempt

  10. Syllabus of ipcc 2nd group

  11. I want to know the amendments in all the subjects for Nov 2015… As far as I have seen only advance accounts syllabus has chngd.. Excl. Of electricity… Plz notify me about any other change in both group subjects..!!

  12. Sir i dont find any changes in any paper of IPC (except Advance Accounting of 2nd group i.e exclusion of electricity chapter) applicable for Nov. 2015 as compare to may 15. Am i right? Otherwise what is the changes, plz… upto date me. Plz reply….

  13. I want to know amendments of taxation paper applicable for nov 2015 exam..so kindly provide me..n please let me know that new service tax is applicable or not?

  14. Hareshkumar Mansukhbhai Trapasiya

    i want to get relevant amendment of auditing paper for exam may 2015 so kindly provide me all details of new changes in auditing which is applicable for may 2015

Leave a Reply

Your email address will not be published. Required fields are marked *