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CA IPCC Amendments for November 2018

CA IPCC Amendments for November 2018

CA IPCC Amendments for November 2018 : The next examinations of Chartered Accountancy (CA) IPC course will be held in Nov, 2018 exam. ICAI has announced the applicability of Standards, Guidance Notes and Legislative Amendments etc. for November, 2018 – CA IPC Examination.

This blog contains the applicability of CA IPCC Amendments for November 2018 exam.

In case you are looking for CA Intermediate Amendments read article here – CA Intermediate Amendments

Download Applicability of CA IPCC Amendments for November 2018 exam by clicking on the image below:

CA IPCC Amendments for May 2018 exam

CA IPCC Amendments 

CA IPCC Amendments for November 2018 exam

ICAI has announced that the following Accounting Standards (Ass), Guidance Notes (GNs), Legislative Amendments and updates applicable for CA IPCC/Intermediate Nov 2018 exam.

CA INTERMEDIATE (IPC) COURSEEdition applicable for nov 2018 IPCC Exams
Accounting
Study Material (Module 1 to 2)July, 2015 Edition along with RTP nov 2018
Practice ManualApril, 2016 Edition
Business Laws & Ethics and Communication
Study Material (Module 1 to 3)July, 2015 Edition along with RTP nov, 2018
Practice ManualApril, 2016 Edition
Supplementary BLECJune, 2017 Edition
Cost Accounting
Study Material (Module 1 to 2)April, 2016 Edition
Practice ManualApril, 2016 Edition
Financial Management
Study Material (Module 1 to 2)April, 2016 Edition
Practice ManualApril, 2016 Edition
Taxation
Section A – Income TaxStudy Material for New Course Intermediate
Paper 4 will be applicable for Existing Intermediate (IPC) also with the exception of two topics:
i) Tax Collection at Source – Basic concept in pages 9.60 to 9.65 in Chapter 9; and
Section B – Indirect Taxesii) Self-Assessment in page 10.28 in Chapter 10 under Section A.

Study Material incorporates questions from Practice Manual and amendments.

RTP for nov 2018 will contain Statutory update.

Advanced Accounting
Study Material (Module 1 to 3)July, 2015 Edition + RTP nov 2018
Practice ManualApril, 2016 Edition
Auditing and Assurance
Study Material (Module 1 to 2)July, 2015 Edition + RTP nov, 2018
SM Auditing PronouncementJuly, 2017 Edition for Intermediate Course (New)
Practice ManualApril, 2016 Edition
Information Technology Section-A
Study MaterialJuly, 2015 Edition along with RTP nov, 2018
Practice ManualJune, 2017 Edition
Strategic Management Section-B
Study MaterialJuly 2015 Edition
Practice ManualApril, 2016 Edition

CA IPCC Amendments for Nov 2018 exam

Accounts IPCC Syllabus Changes nov 2018

CA IPCC Amendments : There is only one Change and Amendment in CA IPCC Accounts Syllabus. The newly introduced Indian Accounting Standards will be applicable for CA IPCC nov 2018 Exam.

However, only the basics and introduction to the Indian Accounting Standards will be applicable for CA IPCC nov 2018 Syllabus.

Download full details of CA IPCC Announcement on Applicability of Amendments in Accounting Standards for nov 2018 Exam

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CA IPCC Amendment in Accounting Standards

Download CA IPCC Applicability of Amendments 

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 CA IPCC Amendment

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CA IPCC DT Amendments 

CA IPCC Amendments Law Syllabus Changes 2018

CA IPCC Amendments for 2018 : In Company Law Syllabus, there are no new amendments. Students can study the existing syllabus only for May 2018 exam too.

 CA IPCC Amendments Costing FM Syllabus Changes 2018

CA IPCC Amendments for 2018 : Costing and Financial Management is one of such papers that is very static in nature. The Syllabus hasn’t changed for the past 5 years and will remain the same for CA IPCC 2018

Tax CA IPCC Amendments Syllabus Changes 2018

CA IPCC Amendments for 2018 : CA IPCC Tax Syllabus for 2018 will see the most number of changes and amendments. This is due to the applicability of the Union Budget introduced in 2016.

CA IPCC Amendments Advanced Accounts Syllabus 2018

CA IPCC Amendments for 2018 : As far as CA IPCC Advanced Accounts paper is concerned, there are no new Amendments or changes in the syllabus.

CA IPCC Amendments Audit Syllabus Changes

CA IPCC Amendments for 2018 : In the entire IPCC Auditing part, there are few minor changes in the Company Audit Part. Other than that, there are no new changes in the CA IPCC Audit Syllabus applicable for 2018 exam.

CA IPCC Amendments IT SM Syllabus 2018

CA IPCC Amendments for 2018 : Just like Costing FM syllabus, you will not find much changes in the syllabus of CA IPCC Information Technology (IT) and Strategic Management (SM) papers.

Paper 1: Accounting

 Accounting Standards 

AS1  :Disclosure of Accounting Policies
AS2  :Valuation of Inventories
AS3  :Cash Flow Statements
AS6  :Depreciation Accounting
AS7  :Construction Contracts (Revised 2002)
AS9  :Revenue Recognition
AS10  :Accounting for Fixed Assets
AS13  :Accounting for Investments
AS14  :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 Accounting Policies

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.

  1. 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
  2. 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 These Ind AS have not been made applicable for November,  2016  Examination.
  3. 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 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-

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

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

Paper 4: Taxation

Applicability of the Finance Act, Assessment Year etc. for November, 2018   examination

CA IPCC Amendments for 2018 : 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, 2018 examination.  The relevant assessment year for income-tax is A.Y.  2016-17.

Paper 6: Auditing and Assurance

1. Standards on Auditing (SAs):

S.NoSATitle of Standard on  Auditing
1SA 200Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing
2SA 210Agreeing the Terms of Audit  Engagements
3SA 220Quality Control for Audit of Financial  Statements
4SA 230Audit Documentation
5SA 240The Auditor’s responsibilities Relating to Fraud in an Audit of Financial Statements
6SA 250Consideration of Laws and Regulations in An Audit  of  Financial  Statements
7SA 260Communication with Those Charged with  Governance
8SA 265Communicating Deficiencies in Internal Control to Those Charged with Governance and Management
9SA 299Responsibility of Joint Auditors
10SA 300Planning an Audit of Financial  Statements
11SA 315Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and its Environment
12SA 320Materiality in Planning and Performing an  Audit
13SA 330The Auditor’s Responses to Assessed  Risks
14SA 402Audit Considerations Relating to an Entity Using a Service   Organization
15SA 450Evaluation of Misstatements Identified during the  Audits
16SA 500Audit Evidence
17SA 501Audit Evidence – Specific Considerations for Selected  Items
18SA 505External Confirmations
19SA 510Initial Audit Engagements-Opening  Balances
20SA 520Analytical Procedures
21SA 530Audit Sampling
22SA 540Auditing   Accounting     Estimates,    Including    Fair   Value   Accounting Estimates, and Related Disclosures
23SA 550Related Parties
24SA 560Subsequent Events
25SA 570Going Concern
26SA 580Written Representations
27SA 600Using the Work of Another  Auditor
28SA 610Using the Work of Internal  Auditors
29SA 620Using the Work of an Auditor’s  Expert
30SA 700Forming an Opinion and Reporting on Financial  Statements
31SA 705Modifications to the Opinion in the Independent Auditor’s  Report
32SA 706Emphasis of Matter Paragraphs and Other Matter Paragraphs in the Independent Auditor’s Report
33SA 710Comparative Information – Corresponding Figures and Comparative Financial Statements
34SA 720The Auditor’s Responsibility in Relation to Other  Information  in  Documents Containing Audited Financial  Statements

2. Statements:

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

3.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

4. Applicability of the Companies Act, 2013:

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

Frequently asked questions for CA IPCC Amendments for Nov 2018

Q 1. What are the ca ipcc latest amendments for Nov 2018?

ipcc amendments : The Syllabus for 2018 will be different in few subjects when compared to the syllabus that was applicable for Nov 2016 Exam. The detail information about amendments is given in the above article.

Q 2.What are 2nd group amendments for CA IPCC 2018?

ipcc amendments : IPCC name changed to Intermediate Course. There are two groups in CA IPCC and each group has four subjects. One subject is added in 2nd group.

Along with this CA IPCC Amendments article you also must read the following articles

The articles below will help you with everything you will need to register for the IPCC Exam with dates,admit card and result.

IPCC Registration

IPCC syllabus

IPCC admit card

IPCC exam date 

IPCC Result

IPCC amendmentsPlease note that thousands of students are using IPCC exam study material from CAKART to pass the IPCC exam. Most of these study materials are available for free. These are curated by exam experts who have been toppers in the past. Click on the links below to access.

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