ICAI updates

FOR CPT STUDENTS:-

Announcement for the Students of CPT level for June, 2017 Examination

Section A: Fundamentals of Accounting
The Ministry of Corporate Affairs (MCA) has notified Companies (Accounting Standards) Amendment Rules, 2016 (G.S.R. 364(E) dated 30.03.2016) wherein MCA has omitted AS 6, Depreciation Accounting and replaced AS 10 Accounting for Fixed Assets with newly notified AS 10, Property, Plant and Equipment. Consequently, we have revised the contents of Chapter 5 of Depreciation Accounting in the Study Material of Section A: Fundamentals of Accounting in line with the new Accounting Standard. Therefore, the students of CPT level who have either Nov. 2015 Edition or prior Edition of Fundamentals of Accounting Study Material are required to ignore Chapter 5“Depreciation Accounting” given in that material and are advised to read the updated chapter.

The students appearing for June, 2017 examination are advised to refer the revised Chapter 5 on Deprecation Accounting uploaded on the BoS Knowledge Portal of the Institute’s website at the below mentioned link:

http://resource.cdn.icai.org/28897cpt-fa-sm-cp5.pdf



FOR FINAL STUDENTS:-

Important Announcement for Final Course students
Sub: Applicability of Insolvency and Bankruptcy Code, 2016 in the Paper 4: Corporate and Allied Laws for November 2017, Examinations

The Council has approved the inclusion of “Overview of the Insolvency and Bankruptcy Code, 2016” for 10 Marks for November 2017 examinations and onwards.

With the addition of the Insolvency and Bankruptcy Code, 2016, marks allocation will be as under:
S. No.TopicsMarks
1.Company Laws60 Marks
2.Insolvency and Bankruptcy Code, 201610 Marks
3.Allied Laws30 Marks

For the benefit of our students, the Board of Studies will be releasing a reading material on the aforementioned Insolvency and Bankruptcy Code, 2016 which will be hosted on the website by the end of this month.

Separate mails and SMS will be sent to the students when the material will be uploaded.

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