Applicability of study guidelines for CA Final May 2020 New and Old course exams

Last updated: 28 December 2019

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May 2020 -Intermediate (New Course) Examination

Intermediate Level (New Course) Paper 1: Accounting

List of Applicable Accounting Standards

AS 1 : Disclosure of Accounting Policies
AS 2 : Valuation of Inventories
AS 3 : Cash Flow Statements
AS 10 : Property, Plant and Equipment
AS 11 : The Effects of Changes in Foreign Exchange Rates
AS 12 : Accounting for Government Grants
AS 13 : Accounting for Investments
AS 16 : Borrowing Costs

Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2020 Examination

The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2019 will be applicable for May, 2020 Examination.

Non-Applicability of Ind AS

The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS do not form part of the syllabus and hence are not applicable.

To read more in details: Click Here

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2020 – Final (New) Examination

List of topic-wise exclusions from the syllabus (1)	(2)	(3)
S. No. in the revised syllabus	Topics of the syllabus	Exclusions
2.	Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements (v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS (viii) Other Ind AS	Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’ Appendix A: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds Appendix B: Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment
		Indian Accounting Standard (Ind AS) 29 : Financial Reporting in Hyperinflationary Economies Indian Accounting Standard (Ind AS) 104: Insurance Contracts Indian Accounting Standard (Ind AS) 106: Exploration for and Evaluation of Mineral Resources Indian Accounting Standard (Ind AS) 114 : Regulatory Deferral Accounts
5.	Analysis of financial statements	Analysis of financial statements based on Accounting Standards