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CA Final Global Financial Reporting Standards Syllabus

CA Final Global Financial Reporting Standards Syllabus

CA Final Global Financial Reporting Standards Syllabus: CA Final List of Elective papers Applicable from 1st July 2017 – On 1st June 2016, ICAI has announced that they are introducing changes in the CA Course and the new CA Course would be applicable from 1st July 2017

CA Final Syllabus is undergoing new changes in for the current year. And the changes can be implemented anytime of this year. We have the approx syllabus which is going to be implemented in the upcoming days. Let look at the changes and syllabus now.

CA Final Global Financial Reporting Standards Syllabus: This paper will be having 100 marks single paper.

Global Financial Reporting Standards syllabus include:

  1. Conceptual Frame work for Financial Reporting as per IFRS and this paper will consist of 10 marks.
  2. Application of International Financial Reporting Standards and this paper consists of 70 marks.
  3. Significant difference between IFRS and US GAAPs- 20 marks.

The main reason to include this subject is to develop a better understanding of the basic key concepts and principals of international financial reporting standards and to acquire te ability to apply such knowledge to address issue and make everything in practical scenario. And another main reason to is to develop a better understanding in International Financial reporting standards and also in US GAAP. And to know the basic difference between them and can apply in real world or in practical life.

CA Final Global Financial Reporting Standards Syllabus

The International Financial Reporting Standards, usually called the IFRS Standards, are standards issued by the IFRS Foundation and the International Accounting Standards Board(IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. They are the rules to be followed by accountants to maintain books of accounts which are comparable, understandable, reliable and relevant as per the users internal or external. IFRS, with the exception of IAS 29 Financial Reporting in Hyper in flationary Economies and IFRIC 7 Applying the Restatement Approach under IAS 29, are authorized in terms of the historical cost paradigm. IAS 29 and IFRIC 7 are authorized in terms of the units of constant purchasing power paradigm.

IASB has continued to develop standards calling the new standards “International Financial Reporting Standards”.

In the absence of a Standard or an Interpretation that specifically applies to a transaction, management must use its judgement in developing and applying an accounting policy that results in information that is relevant and reliable. In making that judgement, IAS 8.11 requires management to consider the definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the Framework.

CA Final Global Financial Reporting Standards Syllabus

CA FINAL

CA FINAL

 Click here to know about CA Final Elective Paper

CA Final Global Financial Reporting Standards Syllabus

CA Final

CA Final

Click here to know about: CA Final International Taxation Syllabus

Brief About International Taxation

CA Final International Taxation Syllabus: Here is the list of six subjects that are expected to be in list for students.

  • Risk Management: the forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
  • International Taxation:International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries or the international aspects of an individual country’s tax laws as the case may be
  • Economic Laws: In the legal system of the Soviet Union, economic law was the legal theory and system under which economic relations were a legal discipline independent of criminal law and civil law. In the Law of the United States and some other legal systems this approximately corresponds to the commercial law (business law).
  • Financial Services & Capital Markets: Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds etc.
  • Global Financial Reporting Standards: International Financial Reporting Standards (IFRS) are designed as a commonglobal language for business affairs so that company accounts are understandable and comparable across international boundaries.
  • Multidisciplinary case studyMultidisciplinary Case Study On Higher Education: An Innovative Experience In The Business Management Degree.

CA Final Global Financial Reporting Standards Syllabus

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