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Imp - ipcc 2013

Shreyans Jain (........) (151 Points)

16 April 2013

Sir,

Can Anyone Give me Question Booklets for IPCC May 2013...!!
Group 1 and 2 Both...

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Sathish M (Management Accountant) (40581 Points)
Replied 16 April 2013

Paper 5: Advanced Accounting

A. Pronouncements

Accounting Standards 4, 5, 11, 12, 16, 19, 20 26 and 29 are covered in the syllabus.

B. Notification relevant for May, 2013 examination

1. Maintenance of Cash Reserve Ratio at 4.25 per cent.

2. Clarification on Para 46A of notification number G.S.R. 914(E) dated 29.12.2011

on Accounting Standard 11 relating to "The Effects of Changes in Foreign

Exchange Rates"

In order to resolve the problems faced by industry in proper implementation of Para

46A of AS 11 inserted vide notification 914(E) dated 29.12.2011, on account of Para

6 of AS 11 and Para 4(e) of AS 16, MCA had further clarified vide Circular No.25/2012 dated 09.08.2012 that Para 6 of AS 11 and Para 4(e) of the AS 16 shall not

apply to a company which is applying clause Para 46A of AS 11.

3. Statutory Liquidity Ratio for Local Area Banks be reduced from 25 per cent to 23 per

cent of their Net Demand and Time Liabilities (NDTL) with effect from the fortnight

beginning August 11, 2012.

Note : Non-Applicability of Ind ASs for May, 2013 examination

The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without

announcing the applicability date. These are the standards which are being converged by

eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards

shall be applied for all companies falling under Phase I to Phase III as prescribed under the

roadmap issued by the core group.

Students may note that Ind ASs are not applicable for the students appearing in May, 2013

Examination. However, Accounting Standards as specified in the syllabus are applicable

for the students appearing in May, 2013 Examination.

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Shreyans Jain (........) (151 Points)
Replied 16 April 2013

But Sir I want Questions Which covers all the syllabus of That particular Subject....

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