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|ACCOUNTING STANDARS AND THEIR||DISCLOSURES (IPCC GROUP -II )|
|AS-4 contigencies & events occurring after||1. Nature of contingency and events.|
|balance sheet date||2. Affect of uncertainty in the sense of future outcome.|
|3. Estimate of financial effect or the fact that estimate can’t be made.|
|AS-5 net profit or loss for the period, prior||1. narture and amount and their impact on|
|period items and changes in accounting policies||current profit or loss can be clearly perceived|
|2. material impact in later periods|
|AS-11 Effect of changes in foreign exchange||1. exchange rate.|
|rates||2. Nature and reason for change.|
|3. Profit or loss in process of exchange.|
|AS-12 governament grants||1.method of presentation|
|2.nature ans extent of government grants (mandatary and non mandatary assets given at concessional rate or free of cost)|
|AS-16 borrowing costs||1.policy adopted for borrowing cost|
|2.amount of borowing cost capitalised during the year|
|AS-19 lease accounting||Finance lease:|
|1.lease assets must disclose separately|
|2.details of lease period|
|3..if any contingent rent it should recognized as expense in P&L a/c|
|1.contingentrent recognized as income in P&L a/c|
|1.Lease payments recognized in P&L Account for the period separately|
|1.contingent rent recognized as income and P&L Account|
|AS-20 earning per share||1.The amount used as numerators and a reconciliation of that amount to the net profit/loss for the period.|
|2.The number used as denominators and a reconciliation of those to each other.|
|3.The nominal value along with EPS figures.|
|4.If a component of net profit is used which is not reported as a line item in the P&L Account, a reconciliation should be provided.|
|AS-26 Intangible Assets||1.amortisation rate and method using|
|2.gross qualifyingamount,impirement losses accumulated amortisation|
|additions,disposals,losses.,etc during period|
|3.if amortised over a period of 10 years then reasons|
|4.what assets pledged for liabilities as security|
|6.R&D recognised as expense during period|
|AS-29 provisions,contingent liabilities||provision:|
|and assets||1.carrying amount|
|2.additions made during period|
|3.used and unused amounts during perios and amount of resevre|
|4.nature of obligation in brief|
|3.uncertainity ragarding outflow|
|5.required info and state of fact|
Preparation tips for IPCC exams :
Dear students success it is the product of both intelligence and hard work . so for CA for exams both required ( intelligence and hard work ) . number of students face problems for preparation i. e. how to start & from where to start and from which subject to start like this . Avoid such mistakes following are the steps observe :
Step 1 : After completion of your coaching access remaining period for exams later on analyse yourself preparation for both groups or single group .
Step 2 : Draw a scheduled for preparation .
Step 3 : I would suggest to all theory part of the subjects better to read early morning time only.Because it is the best time for grasping.
Step 4 : You have to be practice problematical papers like Accounts , costing & FM otherwise in examinations difficult to salve the problems .
Step 5 : Before going to exams you have to be revision total syllabus 2 to 3 times .otherwise u will got blank during exam.
Step 6 : In law & income Taxation subjects don ‘t code wrong section its results may be loss of marks. u have 100 % confident on that u can code other wise write like, prescribed section .
Step 7 : In examination presentation is very important that ‘s reason u have to start every question in fresh page and code question number in middle of the page & Avoid striking and write legible this is helpful to get more marks .
Step 8 : After finish your exam don ‘t discuss with friends regarding that exam . left your question paper in examination hall and start your preparation for next exam .
Step 9 : suppose in group I A / c paper u r not presented properly just ignore that and prepare for next exam . Maximum of students are doing is any one paper not presented properly he / she not concentrate remaining exams . My dear students don ‘t do like that may be chance remaining papers u can get exemption . So think positive.
Step 10 :Dear students after completion of your exams in case u have doubt any subject start your preparation immediately because after announcing of the result u have only 2 .5 months only . For clearing CA exams may be take one or more attempt so don ‘ t get mentally stress .
Subject wise tips :
1 . IT & SM : I would suggest to all SM preparation level is from last chapter to first chapter . And IT start with flowcharts & decision table later on network, inter net , DBMS finally start 1 st chapter . From practice manual 40 to 45 marks paper will be from it so should be concentrate on that . Remaining part is definition part around 15 marks.
2 . INCOME TAX : You have to read every concept in income tax paper & one more thing is total income problems important , and in every problem u have make note points its impress to valuationer . Put the currency symbol other wise u can loss marks . My sincere advice is don ‘t start with total income problem in examination y because its take more time for completion. at the time of preparation first of all finish indirect tax( service tax & VAT) y because its less concept u can get nearly 50 marks .
3 . AUDITING : In auditing company auditor chapter is very important in that chapter only around 15 to 25 marks. And standards also important for exams read 2 to 3 times. Last 2 to 3 attempts asked only direct question only so more concentrate on direct questions .
4 . ACCOUNTS: In accounts I & II subjects very important is accounting standards its around 12 to 25 marks in each subjects . In examination presentation level is start with journal entries problem then ledger a / c after that final a / c problems. y because time management is very important in CA examinations .
5 . COSTING & FM : I n this subject first of all theory part u have to prepare its nearly 30 to 35 marks later on start practice problems in both costing & FM otherwise u cont salve the problems in examination .
6 . LAW : in this subjects first of all prepare company law & other laws y because around 50 to 60 marks cover in these topics . Later on business communication etc .
1 . Time management is very important in examination.
2 . Don ‘t STUDY CONTINIOUSLY . take small breaks
3 . Sleep every day 6 to 7 hours .
4 . Take food properly .
5 . Very very important point is in all exams u have to be write point wise .
6 . Don ‘t refer 2 to 3 author books .do practice manual . its very important
7 . We would suggest that for the benefit of the students read the suggested answers carefully its useful to your examinations .
hope this article useful to your preparation .
BEST OF LUCK 🙂
Sub: Revision of syllabus of
Group – I – Paper- 4 – Taxation – Part – II and
Group – II – Paper – 7 – Section A: Information Technology of
Intermediate (IPC) Course; and
Group – II – Paper – 6 Information Systems Control and Audit and
Group – II – Paper – 8 – Indirect Tax Laws of Final Course.
As per the decision of the Council taken at its 324th held in March, 2013, it is
notified for information of students and the public at large that the examination in
the following papers effective from November 2014 examination and onwards shall
be held as per the revised syllabus, as specified by the Council in terms of its
authority as vested in Regulation 28E (3) and 31(iii) in respect of Intermediate
(IPC)/Accounting Technician Examination and Final Examination respectively.
Intermediate (IPC) Examination/
Accounting Technician Examination
(ATE) under Regulation 28E (3) of the
Chartered Accountants Regulations,
Part I : No change
Part II: Taxation i.e. Service Tax (25
Marks) and VAT (25 Marks)
Paper 7: Section A: Information
Technology (50 Marks)
Final Examination under Regulation 31(iii) of the Chartered Accountants
Paper 6: Information Systems Control
and Audit (100 Marks)
Paper: 8: Indirect Tax Laws (100 Marks)
The detailed Revised Syllabi in respect of aforesaid papers of Intermediate
(IPC) and Final Examinations are hereby attached for the information of students
and general public.
It is clarified that there is no change in the syllabus of remaining papers of
Intermediate (IPC) Course and Final Course, except as specified above.
Director, Board of Studies
INTERMEDIATE (IPC), GROUP I, PAPER 4: TAXATION
PART II – INDIRECT TAXES (50 MARKS)
To develop an understanding of the basic concepts of the different types of indirect taxes and to
acquire the ability to analyse the significant provisions of service tax.
1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional
aspects, Basic concepts relating to levy, taxable event and related provisions
2. Significant provisions of service tax
(i). Constitutional Aspects
(ii) Basic Concepts and General Principles
(iii) Charge of service tax including negative list of services
(iv) Point of taxation of services
(v) Exemptions and Abatements
(vi) Valuation of taxable services
(vii) Invoicing for taxable services
(viii) Payment of service tax
(x) Furnishing of returns
(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]
Note – If new legislations are enacted in place of the existing legislations the syllabus will
accordingly include the corresponding provisions of such new legislations in place of the existing
legislations with effect from the date to be notified by the Institute. Students shall not be examined
with reference to any particular State VAT Law.
Intermediate (IPC), Group-II, Paper-7A: Information Technology
Paper – 7A: Information Technology (50 Marks)
Level of Knowledge: Working Knowledge
Objective: “To develop understanding of Information Technology as a key enabler and facilitator of
implementing Information Systems in enterprises and their impact on business processes and controls”.
1. Business Process Management & IT
Introduction to various Business processes – Accounting, Finances, Sale, Purchase etc.
Business Process Automation – Benefits & Risks
Approach to mapping systems : Entity Diagrams, Data Flow Diagrams, Systems Flow
diagrams, Decision trees/tables,
Accounting systems vs. Value chain automation, Information as a business asset
Impact of IT on business processes, Business Risks of failure of IT
Business Process Re-engineering
2. Information Systems and IT Fundamentals
Understand importance of IT in business and relevance to Audit with case studies.
Understand working of computers and networks in business process automation from
business information perspective
Concepts of Computing (Definition provided by ACM/IEEE and overview of related
Overview of IS Layers – Applications, DBMS, systems software, hardware, networks &
links and people
Overview of Information Systems life cycle and key phases
Computing Technologies & Hardware – Servers, end points, popular computing
architectures, emerging computing architectures & delivery models – example: SaaS, Cloud
Computing, Mobile computing, etc.
Example: Overview of latest devices/technologies – i5, Bluetooth, Tablet, Wi-Fi, Android,
Touchpad, iPad, iPod, Laptop, Notebook, Smartphone, Ultra- Mobile PC etc.)
3. Telecommunication and Networks
Fundamentals of telecommunication
Components and functions of Telecommunication Systems
Data networks – types of architecture, LAN, WAN, Wireless, private and public
Overview of computing architectures – centralised, de-centralised, mainframe, clientserver,
thin-thick client etc.
Network Fundamentals – Components, Standards and protocols, Network risks &
controls – VPN, Encryption, Secure protocols,
Network administration and management – concepts and issues
How information systems are facilitated through telecommunications.
How Internet works, Internet architecture, key concepts, risks and controls
e-Commerce and M-commerce technologies
4. Business Information Systems
Information Systems and their role in businesses
IT as a business enabler & driver – ERP, Core Banking System, CRM, SCM, HRMS,
The relationship between organisations, information systems and business processes
Accounting Information Systems and linkages to Operational systems
Business Reporting, MIS & IT
Organisation Roles & responsibilities and table or authorities, importance of access
controls, privilege controls
Specialised systems – MIS, DSS, Business Intelligence, Expert Systems, Artificial
Intelligence, Knowledge Management systems etc.
5. Business process automation through Application software
Business Applications – overview and types
Business Process Automation, relevant controls and information systems
Information Processing & Delivery channels and their role in Information Systems
Key types of Application Controls and their need
Emerging concepts – Virtualisation, Grid Computing, Cloud delivery model
Final Course, Group-II, Paper-6:
Information Systems Control and Audit
(One Paper – Three Hours – 100 Marks)
Level of Knowledge: Advanced Knowledge
Objective: “To develop competencies and skill-sets in evaluation of controls and relevant evidence
gathering in an IT environment using IT tools and techniques for effective and efficient performance of
accounting, assurance and compliance services provided by a Chartered Accountant”.
1. Concepts of Governance and Management of Information Systems
Governance, Risk and compliance and relationship between governance and management.
Role of information technology and IS Strategy in business strategy, operations and control , business
value from use of IT, business impact of IS risks different types of Information Systems Risks, IS Risk
management overview, IT Compliance overview – Role and responsibilities of top management as regards
IT-GRC. Role of Information Systems Assurance. Overview of Governance of Enterprise IT and COBIT
2. Information Systems Concepts
Overview of information systems in IT environment and practical aspects of application of information
systems in enterprise processes. Information as a key business asset and its relation to business
objectives, business processes and relative importance of information systems from strategic and
operational perspectives. Various types of business applications, overview of underlying IT technologies.
3. Protection of Information Systems
Need for protection of Information systems, types of controls, IT general controls, logical access controls &
application controls. Technologies and security management features, IS Security Policies, procedures,
practices, standards and guidelines, IT controls and control objectives, Role of technology systems in
control monitoring, segregation of duties. Impact of IT controls on Internal controls over financial reporting,
cyber frauds and control failures.
4. Business Continuity Planning and Disaster recovery planning
Assessing Business Continuity Management, Business Impact Analysis and Business Continuity Plans,
Disaster recovery from perspective of going concern, Recovery Strategies
5. Acquisition, Development and Implementation of Information Systems (SDLC)
Business process design (integrated systems, automated, and manual interfaces), Software procurement,
RFP process, evaluation of IT proposals, computing ROI, Computing Cost of IT implementation and cost
benefit analysis, systematic approach to SDLC and review of SDLC controls at different stages.
6. Auditing & Information Systems
Different types of IS audit and assurance engagements. Evaluating IT dependencies for audit planning.
Overview of continuous auditing. Auditing Information Systems- Approach methodology, and standards for
auditing information systems. IS Audit planning, performing an IS audit, rules of digital evidence, best
practices and standards for IS audit.
Reviewing General Controls, Application Controls, Application control reviews: Review of controls at
various levels/layers such as: Parameters, user creation, granting of access rights, input, processing and
7. Information Technology Regulatory issues
Overview of Specific section of IT Act 2008 & Rules as relevant for assurance: Electronic Contracting,
digital signatures, cyber offences, etc. Need for systems audit as per various regulations such as: SEBI
Clause 49 listing requirements and internal controls, systems control & audit requirements as per RBI,
SEBI, IRDA. Concepts of Cyber forensics/Cyber Fraud investigation, Overview of Information Security
Standards ISO 27001, ISAE 3402/SA 402, ITIL
8. Emerging Technology: Overview of Cloud Computing, Software as a Service, Mobile Computing &
BYOD, Web 2.0 & social media, Green IT and related security and audit issues
FINAL GROUP II
PAPER 8 : INDIRECT TAX LAWS
(One paper – Three hours – 100 marks)
Level of Knowledge: Advanced knowledge
(a) To gain advanced knowledge of the principles of the laws relating to central excise,
service tax and customs
(b) To acquire the ability to apply the knowledge of the provisions of the above-mentioned
laws to various situations in actual practice
Section A: Central Excise (25 marks)
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax (50 marks)
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time
Section C: Customs and Foreign Trade Policy (25 marks)
Customs Act, 1962, Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to the
Note – If new legislations are enacted in place of the existing legislations relating to central excise,
customs and service tax, the syllabus will accordingly include such new legislations in place of the
existing legislations with effect from the date to be notified by the Institute.
Procedure for Verification of
There is No Standard Procedure/
Application Form for applying for
Revaluation of Marks of CA CPT / CA
IPCC / CA Final . A simple Hand written
application should be submitted to the
Institute in the Candidate’s Own
1. Roll No. ( CPT Admit Card / IPCC/
Final Admit Card)
2. Student Reg. No.
3. Paper(s) to be verified
4. Examination Appeared – (CA CPT /
PCC / IPCC / Final)
5. Address for Communication
The request for verification will be
considered only after the application in the
candidate’s own handwriting in Hindi
language if the medium of examination
was Hindi else in English language duly
signed with requisite fee by way of DD is
received within 1 month of the date of
declaration of Results.
The Candidate should not write his mobile
no. or email id or landline numbers in such
verification requests. Printed Applications
would be rejected
An Application for Verification/ Revaluation
of Marks can also be made online on
http://icaiexam.icai.org . In case the
Student opts for submission of application
online, he would be required to Scan the
Handwritten Revaluation Application and
upload it on the above mentioned website.
The Payement of Revaluation Fees in this
case would be made using Debit/ Credit
Card. After uploading the Scanned Copy
online, the Student wont be required to
send the hard copy to ICAI.
Fees for Revaluation of Marks
Fee for Revaluation of Marks for IPCC and
Final is Rs. 100/- per paper subject to a
maximum of Rs. 400/- for all the papers of
a group/ both groups.
Fee for Revaluation of Marks for CPT is Rs.
Fees is to be remitted by way of Demand
Draft in favour of “The Secretary, The
Institute of Chartered Accountants of
India ” and payable at New Delhi.