01 May 2016
As For MAY 2016 EXAM (IPCC) Ind AS are not applicable.
AS issued by IFRS are said as "Ind AS" so don't get confused regarding it.
The old AS(issued by ICAI) are applicable for may '16 exams.
02 May 2016
Applicability of Standards/Guidance Notes/ Legislative Amendments etc. for May, 2016 – Intermediate (IPC) Examination
Paper- 1: Accounting 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.
Note Regarding Applicability 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 31st October, 2015 will be applicable for May, 2016 Examination
Non-Applicability of Ind ASs for May, 2016 Examination:
The Ministry of Corporate Affairs has notified Roadmap for applicability of Indian Accounting Standards (Ind AS) vide Notification No. G.S.R…….(E) dated 16 February, 2015, for compliance by the class of companies specified in the said roadmap. The notification has been uploaded on www.mca.gov.in along with the thirty nine (39) Indian Accounting Standards (Ind AS).
Students may note that these Ind ASs are not applicable for May, 2016 Examination.
CAclubindia
