(A) Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 - Foundation Course Examination
Paper 2, Section A: Business Laws for May 2023 examination
Inclusions from the syllabus
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(1) |
(2) |
(3) |
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S. No. in the syllabus |
Chapters/ Topics of the syllabus |
Inclusions |
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1. |
Chapter 1: The Indian Contract Act, 1872 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
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2. |
Chapter 2: The Sale of Goods Act, 1930 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
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3. |
Chapter 3: The Indian Partnership Act, 1932 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
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4. |
Chapter 4: The Limited Liability Partnership Act, 2008 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
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5. |
Chapter 5: The Companies Act, 2013 |
The entire content included in the September 2021 edition of the Study Material and the Legislative amendments hosted on the website for May 2023 examinations, shall only be relevant for the said examinations. |
Notes: September 2021 edition of the Study Material is relevant for May 2023 examinations. The amendments - made after the issuance of this Study Material – i.e. for period 1st of May 2021 to 31st October, 2022 shall also be relevant. The relevant Legislative amendments for May 2023 will be available on the BoS Knowledge Portal.
Paper 3 - Business Mathematics. Logical Reasoning and Statistics
The following topics are deleted from the syllabus of Foundation Paper 3: Business Mathematics, Logical Reasoning and statistics from May 2022 examinations:
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Chapter No |
Deleted Topics |
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Chapter 2 |
Unit II : Matrices |
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Chapter 13 |
Syllogism |
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Chapter 19 |
Unit II : Time Series |
(B) Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 Examination - Intermediate Level (New Course)
Intermediate Level (New Course)
Paper 1: Accounting
List of Applicable Accounting Standards
- AS 1 : Disclosure of Accounting Policies
- AS 2 : Valuation of Inventories
- AS 3 : Cash Flow Statements
- AS 10 : Property, Plant and Equipment
- AS 11 : The Effects of Changes in Foreign Exchange Rates
- AS 12 : Accounting for Government Grants
- AS 13 : Accounting for Investments
- AS 16 : Borrowing Costs
Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2023 Examination
The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2022 will be applicable for May, 2023 Examination.
Non-Applicability of Ind AS
The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS do not form part of the syllabus and hence are not applicable.
Paper 2: Corporate and Other Laws
The provisions of the Companies Act, 2013 along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs and the laws covered under the Other Laws, as amended by concerned authority, including significant notifications and circulars issued up to 31 st October 2022 are applicable for May 2023 examination.
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(C) Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2023 Examination - Final
(Study Guidelines for May 2023 Examinations)
Paper 1: Financial Reporting
List of topic-wise exclusions from the syllabus
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(1) |
(2) |
(3) |
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S. No. in the revised syllabus |
Topics of the syllabus |
Exclusions |
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2. |
Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements |
Indian Accounting Standard (Ind AS) 16 ‘Property, Plant and Equipment’
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(v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS |
Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’
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(viii) Other Ind AS |
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5. |
Analysis of financial statements |
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statements |
based |
on |
Notes:
- October, 2021 edition of the Study Material is relevant for May, 2023 examination. The relevant / applicable topics or content are to be read alongwith the webhosted ‘Corrigendum to Study Material’, if any.
- The relevant Amendments / Notifications / Circulars / Rules issued by the Companies Act, 2013 up to 31st October, 2022 will be applicable for May, 2023 Examination. Accordingly, amendments issued by MCA and notified by the Central Government on 20th September, 2022 wrt Amendments in the Companies (Corporate Social Responsibility) Rules, 2014 is applicable for May, 2023 Examination.
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