Hi ppl,
I've heard that the Accounting standards have been amended (especially AS 2,10,11,& 15) and are applicable for the forthcoming exams, but to my surprise there ain't any announcement with regards to the same anywhere in the insti's website nor in any social website.
I know that there is a proposal wrt., Sec. 211(3c) of the Companies Act,1956 and accounting standards(revised) are being referred to in such proposal. So can any1 please confirm whether there is an amendment to AS or it's jus a rumour!!!
Btw, In the students journal issued in Jan 2010, at the end of the journal(before the last article-cross connection). The institute has published various things applicable to May 2010 exam, in which under the head Financial reporting - it states Accounting standards 1 - 32 (including limited revisions).
Can some1 clarify what do they mean by limited revisions??
Thank you
Vishal.
CAclubindia
