Regarding Applicability of AS 30, 31, 32

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Prudvi Raj Saya

Employed

97 Points Posted on 27 November 2010

I am a Final(New cousre) student with an attempt in the coming May.
This is in context of AS 30, 31, 32 being made compulsorily applicable from 1st April, 2011.
As a result of this applicability, various Accountind standards(AS 2, 21, 23, 26, 27) have been subjected to limited revision.

My query is straight. Do these New standards 30, 31, 32 apply for the examination to be held in May 2011. Because otherwise, the limited revisions of AS's mentioned above would not be applicable any ways.

Btw, it's not easy to understand the practical impact of AS 30 on financials(books on AS's have little problems on these standards). Please suggest any source from where I can get a full package of conceptual practical problems in relation to the standard.

Also regarding IFRS, to what level are we supposed to be thorough with them?

Awaiting objective answers.

Thanks :)

Replies (2)

C.A. LINESH PATIL

567 Points Posted on 27 November 2010

Do study AS 30,31,32 & also IFRS.

Although institute has given an announcement that these will be not tested in may 2010 & november 2010 but they have tested.

so u cant take a chance u must study these AS.

Also in november exam there was a question in accounts paper from IFRS 6.

All the best

Anand

Chartred Accountant

306 Points Posted on 27 November 2010

Raj its almost certain that you will find at least 20 marks question from these three AS in question paper.

See this as an opportunity.......in my personal view these AS are not tough.

The best book for these 3 AS is ICAI's study material and even for IFRS you should refer to study material only as institute will be asking only those questions which are given in Study mat.

Get the latest study mat and do these at the earliest. All the best. Happy reading :)