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As v/s ind as- ca final

Lalit patidar (Student) (45 Points)

27 January 2016

Hello, Recently ICAI has made applicability of Ind AS together with AS for may 2016 attempt and has provided material for coverage of this topic. Now I am having confusion about how to cover Ind AS, its applicability from examination point of view, what type of ques may be asked in exams. Pls help!!!!!

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22 Replies

rohan kale (article) (25 Points)
Replied 27 January 2016

Hello lalit,vi am appearing for ca final may 15i asked institute abt the same they told me that as 1 to 29 will b applicable as usual and for 39 31 32 ind as is applicable for which bos has uploaded the supplementary study of 78 pages....pls check icai.org

rohan kale (article) (25 Points)
Replied 27 January 2016

Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 27 January 2016

You may download material for ammended IND AS material,Attached file also contains updated material on revised chapter vi accounting and reporting on financial instruments.

Attached File : 831581 20160127122245 ammendments for cafinal may2016 financial reporting paper.rar downloaded: 626 times

KUNAL SURESH JAIN (CHINCHWAD) (130 Points)
Replied 27 January 2016

I am also confused

Ganeshbabu K (Audit and Tax Advisory) (48559 Points)
Replied 27 January 2016

Dont get confused,,AS 30,31,32 removed and new ind as added to syllabus.and material for same was released.refer above file

except AS30,31,32 all accounting standards applicable as usual along with newly added INDAS

Lalit patidar (Student) (45 Points)
Replied 27 January 2016

Ok, Thanks Rohan

But ICAI has also issued 296 page supplementry for Ind AS coverage, I am afraid how to cover that. Institute may ask comparison between specific AS and Ind AS, so are we really need to prepare that also.

Lalit patidar (Student) (45 Points)
Replied 27 January 2016

Thanks Ganesh.

CA Rajdeepsinh Kanchava (Senior accountant at KPO) (736 Points)
Replied 27 January 2016

Hello friends,

I am also going to appear for may 2016 and after analysis, i came to know that all old ASs except 30-31-32 are applicable as a whole...
However in place of AS 30-31-32, IND AS 32,107 and 109 are applicable...

Institute has also supplied us 296 pages book covering all IND ASs because in addition to above mentioned ASs and IND ASs, carve out parts and a brief summary of all IND ASs are applicable just like our old chapter 2 - Overview of IFRS etc...

So do thorughly all ASs(except AS 30-31-32) and IND ASs 32-107-109 in depth and have an overview of remaining IND ASs...

All the best...

Rajdeep

(Guest)

I thought only comparison between AS and IND AS , accounting standards. Regarding IND AS only comparison part is applicable for may 2016.

CA Rajdeepsinh Kanchava (Senior accountant at KPO) (736 Points)
Replied 27 January 2016

@ Naresh yes u r right only an overview of a particulars item under AS and IND AS can be asked in exam

Keerthana (STUDENT) (79 Points)
Replied 27 January 2016

Dnt Trust ICAI ,

As per ananlysis of previous exam papers when they had introduced AS30,31,32 they had said we will ask only basics , but in that exam they asked for more than 15 marks.

if u are reading only differences between AS n IND AS it means that we should be perfect with IND AS also .

all the best