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List of Institute Publications Relevant for May, 2011 Exam

CA Ravi Sisodia (CA,CS,CMA) (32226 Points)

31 January 2011

LIST OF INSTITUTE’S PUBLICATIONS RELEVANT FOR MAY, 2011 EXAMINATION

Link - https://220.227.161.86/19954list_pubnov2010exam.pdf

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CA Ravi Sisodia (CA,CS,CMA) (32226 Points)
Replied 31 January 2011

The following List of Institute’s Publications is relevant for the forthcoming examination i.e. May, 2011. Students may kindly take it into consideration while preparing for the examinati on.

Paper 1: Financial Reporting (CA Final Examination)

I. Statements and Standards

1. Framework for the Preparation and Presentation of Financial Statements

2. Accounting Standards (including limited revisions) – AS 1 to AS 32*.

II. Guidance Notes on Accounting Aspects

1. Guidance Note on Treatment of Reserves created on Revaluation of Fixed Assets.

2. Guidance Note on Accrual Basis of Accounting.

3. Guidance Note on Accounting Treatment for Excise Duty.

4. Guidance Note on Accounting for Depreciation in Co mpanies.

5. Guidance Note on Availability of Revaluation Reserve for Issue of Bonus Shares.

6. Guidance Note on Accounting Treatment for MODVAT/CENVAT.

7. Guidance Note on Accounting for Corporate Dividend Tax.

8. Guidance Note on Accounting for Employee S hare-based Payments.

9. Guidance Note on Accounting for Credit Available in respect of Minimum Alternate Tax

under the Income Tax Act, 1961.

10. Guidance Note on Measurement of Income Tax for Interim Financial Reporting in the

context of AS 25

11. Guidance Note on Applicability of Accounting Standard (AS) 20, Earnings Per Share.

12. Guidance Note on Remuneration paid to key management personnel – whether a

related party transaction.

13. Guidance Note on Applicability of AS 25 to Interim Financial Results.

14. Guidance Note on Turnover in case of Contractors.

*Note

1. The Core Group was constituted by the Ministry of Corporate Affairs for convergence of

Indian Accounting Standards with International Financial Reporting Standards (IFRS).

This Core Group decided that there will be two separate sets of Accounting Standards

viz.

(i) Indian Accounting Standards converged with the IFRS (Ind AS)

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. At present, these Ind ASs are in the form of

Exposure Drafts and not yet finalized and therefore, no t applicable for the students

appearing in May, 2011 Examination.

(ii) Accounting Standards

The companies not falling within the threshold limits prescribed for IFRS

compliance in the respective phases shall continue to apply these standards in the

preparation and presentation of financial statements.

2. Students are expected to have thorough knowledge of the Accounting Standards (AS 1

to AS 29) and Guidance Notes on various aspects issued by ICAI. As far as AS 30, 31

and 32 are concerned, in view of th e complexities involved, the questions involving

conceptual issues (not involving application issues) may be asked. Since a separate

topic of ‘Financial Instruments’ is included in the curriculum, simple practical problems

based on AS 30, 31 and 32 may be asked.

3. The Accounting Standard Interpretations (ASI) have been issued from time to time by

the Council of the ICAI. These interpretations address questions that arise in course of

application of a particular Accounting Standard. ASI 2 and ASI 11 have b een withdrawn.

ASI 12, 23, 27 and 29 have been withdrawn and issued as Guidance Notes. The

remaining interpretations have been merged as explanations to the relevant paragraphs

of the related Accounting Standards.

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CA Ravi Sisodia (CA,CS,CMA) (32226 Points)
Replied 31 January 2011

PAPER-4: CORPORATE AND ALLIED LAWS

CA FINAL

Name of Books

Institute’s Publication (i) Study material, January, 2011 edition

(ii) Practice Manual, January, 2011 edition

(iii) Revision Test Papers

Applicability of relevant Amendments/Circulars/Notifications/Regulations etc. relating to

Corporate and Allied Laws for May 2011, Examination:

Subject Matter CA Final – Corporate and Allied Laws

Companies Bill, 2009 - Not applicable

Easy Exit Scheme, 2011 - Not Applicable

Provisions relating to Revival and Rehabilitation of Sick-Industrial Companies -Not applicable

Companies (Second Amendment) Act, 2002 [relating to Winding Up] - Not applicable

[Students have been advised to study only the general provisions of winding up as covered under Paragraph 9.4 of chapter 9 of the study material]

SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 - Applicable (Amendments upto April 2010)

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CA Ravi Sisodia (CA,CS,CMA) (32226 Points)
Replied 31 January 2011

Paper 7 : Direct Tax Laws

Final Course

1. The study material for Paper 7: Direct Tax Laws (A.Y. 2011-12), as amended by the Finance Act, 2010 (relevant for A.Y. 2011-12) and significant notifications/ circulars/other legislations up to 30.4.2010.

2. Final Course - Supplementary Study Paper – 2010, which contains the amendments made by the Finance Act, 2010 (relevant for A.Y. 2011-12) and significant notifications/circulars issued between 1.5.2009 and 30.4.2010 [Portions relating to Direct Tax Laws].

3. Significant legal decisions relating to direct tax laws hosted a t the BOS knowledge portal on the website of the Institute www.icai.org.

4. The significant amendments made by circulars/notifications issued between 1.5. 2010 and

31.10.2010 would be hosted on the website of the Institut e www.icai.org and would also be

given in the Revision Test Paper (RTP) for May, 2011 examination.

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CA Ravi Sisodia (CA,CS,CMA) (32226 Points)
Replied 31 January 2011

Paper 8 : Indirect Tax Laws

Final course

1. The study material for Paper 8: Indirect Tax Laws, as amended by the Finance Act, 2010 and significant notifications/circulars/other legislations up to 30.4. 2010.

2. Final Course – Supplementary Study Paper – 2010, containing the amendments made by the Finance Act, 2010 and significant amendments made by notifications and circulars issued be tween 1.5.2009 and 30.4.2010 [Portions relating to Indirect Tax Laws]

3. Significant legal decisions relating to indirect tax laws hosted at the BOS knowledge portal on the website of the Institute www.icai.org.

4. The significant amendments made by circulars/notifications issued between 1.5. 2010 and 31.10.2010 would be hosted on the website of the Institute www.icai.org and would also be given in the Revision Test Paper (RTP) for May, 2011 examination.