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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
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) COURSE | Edition applicable for nov 2018 IPCC Exams |
| Accounting | |
| Study Material (Module 1 to 2) | July, 2015 Edition along with RTP nov 2018 |
| Practice Manual | April, 2016 Edition |
| Business Laws & Ethics and Communication | |
| Study Material (Module 1 to 3) | July, 2015 Edition along with RTP nov, 2018 |
| Practice Manual | April, 2016 Edition |
| Supplementary BLEC | June, 2017 Edition |
| Cost Accounting | |
| Study Material (Module 1 to 2) | April, 2016 Edition |
| Practice Manual | April, 2016 Edition |
| Financial Management | |
| Study Material (Module 1 to 2) | April, 2016 Edition |
| Practice Manual | April, 2016 Edition |
| Taxation | |
| Section A – Income Tax | Study 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 Taxes | ii) 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 Manual | April, 2016 Edition |
| Auditing and Assurance | |
| Study Material (Module 1 to 2) | July, 2015 Edition + RTP nov, 2018 |
| SM Auditing Pronouncement | July, 2017 Edition for Intermediate Course (New) |
| Practice Manual | April, 2016 Edition |
| Information Technology Section-A | |
| Study Material | July, 2015 Edition along with RTP nov, 2018 |
| Practice Manual | June, 2017 Edition |
| Strategic Management Section-B | |
| Study Material | July 2015 Edition |
| Practice Manual | April, 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
CA IPCC Amendment in Accounting Standards
Download CA IPCC Applicability of 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
| 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 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.
- 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 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 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 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 |
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.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 |
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:
- Guidance Note on Audit of Inventories.
- Guidance Note on Audit of Debtors, Loans and Advances
- Guidance Note on Audit of Investments.
- Guidance Note on Audit of Cash and Bank Balances.
- Guidance Note on Audit of Liabilities.
- Guidance Note on Audit of Revenue.
- Guidance Note on Audit of Expenses.
- 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.
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