Applicability of Legislative Amendments for Ca Final Examination, November- 2015

Applicability of Standards/Guidance Notes/Legislative
Amendments etc. for November, 2015 – Final Examination

Paper 1: Financial Reporting

I.                    
Framework for the Preparation and
Presentation of Financial Statements.

II.          Accounting
Standards

AS
No.   AS Title

1                 
Disclosure of Accounting Policies

2                 
Valuation of Inventories

3                 
Cash Flow Statements

4                 
Contingencies and Events Occurring after
the Balance Sheet Date

5                 
Net Profit or Loss for the Period, Prior
Period Items and Changes in Accounting Policies

6                 
Depreciation Accounting

7                 
Construction Contracts (Revised 2002)

9        Revenue Recognition

10               
Accounting for Fixed Assets

11               
The Effects of Changes in Foreign Exchange
Rates (Revised 2003)

12               
Accounting for Government Grants

13               
Accounting for Investments

14               
Accounting for Amalgamations

15               
Employee Benefits

16               
Borrowing Costs

17               
Segment Reporting

18               
Related Party Disclosures

19               
Leases

20               
Earnings Per Share

21               
Consolidated Financial Statements

22               
Accounting for Taxes on Income

23               
Accounting for Investment in Associates in
Consolidated Financial Statements

24               
Discontinuing Operations

25               
Interim Financial Reporting

26               
Intangible Assets

27               
Financial Reporting of Interests in Joint
Ventures

28               
Impairment of Assets

29               
Provisions, Contingent Liabilities and
Contingent Assets

30               
Financial Instruments: Recognition and
Measurement

31               
Financial Instruments: Presentation

32               
Financial Instruments: Disclosure

III.
Guidance Notes on Accounting Aspects

1.        
Guidance Note on Accrual Basis of
Accounting.

2.        
Guidance Note on Accounting Treatment for
Excise Duty.

3.        
Guidance Note on Terms Used in Financial
Statements.

4.        
Guidance Note on Availability of
Revaluation Reserve for Issue of Bonus Shares.

5.        
Guidance Note on Accounting Treatment for
MODVAT/CENVAT.

6.        
Guidance Note on Accounting for Corporate
Dividend Tax.

7.        
Guidance Note on Accounting for Employee
Share-based Payments.

8.        
Guidance Note on Accounting for Credit
Available in respect of Minimum Alternate Tax under the Income Tax Act, 1961.

9.        
Guidance Note on Measurement of Income Tax
for Interim Financial Reporting in the context of AS 25.

10.     
Guidance Note on Applicability of
Accounting Standard (AS) 20, Earnings per Share.

11.     
Guidance Note on Remuneration paid to key
management personnel – whether a related party transaction.

12.     
Guidance Note on Applicability of AS 25 to
Interim Financial Results.

13.     
Guidance Note on Turnover in case of
Contractors.

14.     
Guidance Note on the Revised Schedule VI
to the Companies Act, 1956*

[*Schedule III to the Companies Act,
2013.]

IV.    Applicability
of the Companies Act, 2013 and other Legislative Amendments

The relevant notified Sections of the
Companies Act, 2013 up to 31^st March, 2015 and other legislative
amendments including relevant Notifications / Circulars / Rules / Guidelines
issued by Regulating Authority up to 30th April, 2015.

Non-Applicability of Ind ASs:

The
Ministry of Corporate Affairs has notified Roadmap for applicability of Indian
Accounting Standards (Ind AS) vide Notification
No. G.S.R…….(E) dated 16 February, 2015, for compliance
by the class of companies

specified
in the said roadmap. The notification has been uploaded on www.mca.gov.in along
with the thirty nine (39) Indian Accounting Standards (Ind AS). Students may
note that these Ind ASs are not applicable for

November, 2015 Examination.

Paper 3: Advanced Auditing and Professional Ethics

I.           
Statements and Standards

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

2.    
Framework for Assurance Engagements.

II.         
Engagements and Quality Control Standards
on Auditing

 III.                 
Guidance Notes and other publications

1.            
Code of Ethics

2.            
Guidance Note on Independence of Auditors.

3.            
Guidance Note on Audit Reports and
Certificates for Special Purposes.

4.            
Guidance Note on Audit under Section 44AB
of the Income-tax Act (Revised in view of Latest Form 3CA, 3CB and 3CD notified
on 25^th
July).

5.            
Guidance Note on Audit of Inventories.

6.            
Guidance Note on Audit of Debtors, Loans
and Advances.

7.            
Guidance Note on Audit of Investments.

8.            
Guidance Note on Audit of Cash and Bank
Balances.

9.            
Guidance Note on Audit of Liabilities.

10.         
Guidance Note on Audit of Revenue.

11.         
Guidance Note on Audit of Expenses.

12.         
Guidance Note on Computer Assisted Audit
Techniques (CAATs).

13.         
Guidance Note on Audit of Payment of
Dividend.

14.         
Guidance Note on Audit of Capital and
Reserves.