Rabin S. (C.A. Final) (136 Points)
04 November 2011i have already read draft converged accounting standards some month ago smoothly 1 round.......i wonder would that be beneficial for may 12 exam.....? or my learning is a waste...!! .for the convergence part of accounting standard ...what should i focus on for ..may 12 exam....please tell...
Yamini Swarnalatha
(Chartered Accountant)
(112 Points)
Replied 13 November 2011
if you mean Ind-AS is what you read some months ago, it may not be required for your exams, as they are not yet applicale; in any case, for May 2012 exams better read the current AS which are in force now; ICAI will notify in the CA students journal, about the applicability if ASs for MAy 2012 exams. only when ICAI notifies that Ind-AS or the "draft converged accounting standards" whatever you read is applicable for May 2012 exams, you may focus on them.
All the Best for your exams
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