ANNOUNCEMENTS AND NOTIFICATION APPLICABLE FOR NOVEMBER, 2011 EXAMINATION---IPCC / PCC
SUBJECT--- ACCOUNTS (ACCOUNTS + ADVANCE ACCOUNTS)
(1) Schedule--XIII of the Companies Act 1956 being Amended---- Unlisted Companies (which are not subsidiaries of Listed Companies) shall not require Government Approval for Managerial Remuneration where they hane no profits / inadequate profits, provided they meet the other conditions stipulated in the Schedule...
(2) Amendments to AS-11 of Companies (Accounting Standards) Rules, 2006---- MCA has extended the option (for the enterprises) to capitalize the exchange differences arising on reporting of long term currency monetary items till 31st March 2012 instead of 31st March 2011.
(3) Sale of investment held under Held to Maturity (HTM) category----- RBI has decided vide a notification that if the value of sales and transfers of securities to/from HTM category exceeds 5% of the book value of investment held in HTM category at the begining of the year, bank should disclose the market value of the investments held in the HTM category and indicate the excess of book value over market value for which provisions is not made.. This disclosure is required to be made in "Notes to Accounts" in banks' audited Annual Financial statements....
(4) Indian ASs are not applicable for the students apperaing in November, 2011 Examination.
(5) Enhancement of Rates of Provisioning for Non-Performing Assets and Restructured Advances for all Scheduled Commercial Banks are Not applicable for the students apperaing in November, 2011 Examination.
(6) Revised Schedule VI, not applicable for the students apperaing in November, 2011 Examination.
READ RTP NOV.2011-----COVERED ALL RELEVANT AMENDMENTS
Regards
@ Vipul Jain @
CAclubindia
