Everyone's saying that old AS are still applicable except financial instrument ones, and questions will be based on old AS only. Only difference questions will come for other Ind AS (AS vs Ind AS).
But I've got supplementary study mat for Ind AS which is very detailed and it says it is applicable for May 2016. So is the above information really correct?
And where did people get this, any notification? Should I learn only the differences for other AS?
Hi Rhea,
1. Old AS are still applicable, Old AS 30,31 & 32 have got replaced by Ind AS 32,107 and 109.
2. W.r.t IND AS, most probably a theory question might come on Diff b/w Old AS and Ind AS. So just study the diff b/w old AS and Ind AS.
To refer this amendment, please check out FR RTP for MAY 2016 - Point 1 & 2
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