Suggested Answers Cost Accounting and Financial Management

ICAI Suggested Answers in Cost Accounting and Financial Management from 2012 November  to 2017 May. Suggested Answers are very helpful in preparation of ICAI Exams. ICAI conducted Exams in May and November.

Suggested Answers Business Laws, Ethics and Communication

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sections of companies act 2013

All SECTIONS OF THE COMPANIES ACT, 2013 

Chapter I (1-2)
PRELIMINARY
1. Short title, extent, commencement and application.
2. Definitions.
Companies (Specification of definitions details) Rules, 2014
Chapter II(3-22)
INCORPORATION OF COMPANY AND MATTERS
3. Formation of company.
4. Memorandum.
5. Articles.
6. Act to override memorandum, articles, etc.
7. Incorporation of company.
8. Formation of companies with charitable objects, etc.
9. Effect of registration.
10. Effect of memorandum and articles.
11. Commencement of business, etc.
12. Registered office of company.
13. Alteration of memorandum.
14. Alteration of articles.
15. Alteration of memorandum or articles to be noted in every copy.
16. Rectification of name of company.
17. Copies of memorandum, articles, etc., to be given to members.
18. Conversion of companies already registered.
19. Subsidiary company not to hold shares in its holding company.
20. Service of documents.
21. Authentication of documents, proceedings and contracts.
22. Execution of bills of exchange, etc
Companies (Incorporation) Rules, 2014
Chartered World
Chapter III(23-42)
PROSPECTUS AND ALLOTMENT OF SECURITIES
PART I.—Public offer
23. Public offer and private placement.
24. Power of Securities and Exchange Board to regulate issue and transfer of securities, etc.
25. Document containing offer of securities for sale to be deemed prospectus.
26. Matters to be stated in prospectus.
27. Variation in terms of contract or objects in prospectus
28. Offer of sale of shares by certain members of company.
29. Public offer of securities to be in dematerialised form.
30. Advertisement of prospectus.
31. Shelf prospectus.
32. Red herring prospectus.
33. Issue of application forms for securities.
34. Criminal liability for mis-statements in prospectus.
35. Civil liability for mis-statements in prospectus.
36. Punishment for fraudulently inducing persons to invest money.
37. Action by affected persons.
38. Punishment for personation for acquisition, etc., of securities.
39. Allotment of securities by company.
40. Securities to be dealt with in stock exchanges.
41. Global depository receipt.
PART II.—Private placement
42. Offer or invitation for subscription of securities on private placement.
Companies (Prospectus and Allotment of Securities) Rules, 2014
Chapter IV (43-72)
SHARE CAPITAL AND DEBENTURES
43. Kinds of share capital.
44. Nature of shares or debentures.
45. Numbering of shares.
46. Certificate of shares.
47. Voting rights.
48. Variation of shareholders’ rights.
49. Calls on shares of same class to be made on uniform basis.
50. Company to accept unpaid share capital, although not called up.
51. Payment of dividend in proportion to amount paid-up.
52. Application of premiums received on issue of shares.
53. Prohibition on issue of shares at discount.
54. Issue of sweat equity shares.
55. Issue and redemption of preference shares.
56. Transfer and transmission of securities.
57. Punishment for personation of shareholder.
58. Refusal of registration and appeal against refusal.
59. Rectification of register of members.
60. Publication of authorised, subscribed and paid-up capital.
61. Power of limited company to alter its share capital.
62. Further issue of share capital.
63. Issue of bonus shares.
64. Notice to be given to Registrar for alteration of share capital.
65. Unlimited company to provide for reserve share capital on conversion into limited company.
66. Reduction of share capital.
67. Restrictions on purchase by company or giving of loans by it for
purchase of its shares.
68. Power of company to purchase its own securities.
69. Transfer of certain sums to capital redemption reserve account.
70. Prohibition for buy-back in certain circumstances.
71. Debentures.
72. Power to nominate.
Companies (Share Capital and Debentures) Rules, 2014
Chapter V(73-76)
ACCEPTANCE OF DEPOSITS BY COMPANIES
73. Prohibition on acceptance of deposits from public.
74. Repayment of deposits, etc., accepted before commencement of this Act.
75. Damages for fraud.
76. Acceptance of deposits from public by certain companies.
Companies (Acceptance of Deposits) Rules, 2014
Chapter VI (77-87)
REGISTRATION OF CHARGES
77. Duty to register charges, etc.
78. Application for registration of charge.
79. Section 77 to apply in certain matters.
80. Date of notice of charge.
81. Register of charges to be kept by Registrar.
82. Company to report satisfaction of charge.
83. Power of Registrar to make entries of satisfaction and release in absence of intimation from company.
84. Intimation of appointment of receiver or manager.
85. Company’s register of charges.
86. Punishment for contravention.
87. Rectification by Central Government in register of charges.
Companies (Registration of Charges) Rules, 2014
Chapter VII (88-122)
MANAGEMENT AND ADMINISTRATION
88. Register of members, etc.
89. Declaration in respect of beneficial interest in any share.
90. Investigation of beneficial ownership of shares in certain cases.
91. Power to close register of members or debenture holders or other security holders.
92. Annual return.
93. Return to be filed with Registrar in case promoters’ stake changes.
94. Place of keeping and inspection of registers, returns, etc.
95. Registers, etc., to be evidence.
96. Annual general meeting.
97. Power of Tribunal to call annual general meeting.
98. Power of Tribunal to call meetings of members, etc.
99. Punishment for default in complying with provisions of sections
96 to 98.
100. Calling of extraordinary general meeting.
101. Notice of meeting.
102. Statement to be annexed to notice.
103. Quorum for meetings.
104. Chairman of meetings.
105. Proxies.
106. Restriction on voting rights.
107. Voting by show of hands.
108. Voting through electronic means.
109. Demand for poll.
110. Postal ballot.
111. Circulation of members’ resolution.
112. Representation of President and Governors in meetings.
113. Representation of corporations at meeting of companies and of creditors.
114. Ordinary and special resolutions.
115. Resolutions requiring special notice.
116. Resolutions passed at adjourned meeting.
117. Resolutions and agreements to be filed.
118. Minutes of proceedings of general meeting, meeting of Board of Directors and other meeting and resolutions passed by postal ballot.
119. Inspection of minute-books of general meeting.
120. Maintenance and inspection of documents in electronic form.
121. Report on annual general meeting.
122. Applicability of this Chapter to One Person Company.
Chartered World
Companies (Management and Administration) Rules, 2014
Chapter VIII (123-127)
DECLARATION AND PAYMENT OF DIVIDEND
123. Declaration of dividend.
124. Unpaid Dividend Account.
125. Investor Education and Protection Fund.
126. Right to dividend, rights shares and bonus shares to be held in
abeyance pending registration of transfer of shares.
127. Punishment for failure to distribute dividends.
Companies (Declaration and Payment of Dividend) Rules, 2014
Chapter IX (128-138)
ACCOUNTS OF COMPANIES
128. Books of account, etc., to be kept by company.
129. Financial statement.
130. Re-opening of accounts on court’s or Tribunal’s orders.
131. Voluntary revision of financial statements or Board‘s report.
132. Constitution of National Financial Reporting Authority.
133. Central Government to prescribe accounting standards.
134. Financial Statement, Board’s report, etc.
135. Corporate Social Responsibility.
136. Right of member to copies of audited financial statement.
137. Copy of financial statement to be filed with Registrar.
138. Internal Audit.
Companies (Accounts) Rules, 2014
Rules for CSR Under Section135
Forms for Chapter IX
Chapter X (139-148)
AUDIT AND AUDITORS
139. Appointment of auditors.
140. Removal, resignation of auditor and giving of special notice.
141. Eligibility, qualifications and disqualifications of auditors.
142. Remuneration of auditors.
143. Powers and duties of auditors and auditing standards.
144. Auditor not to render certain services.
145. Auditors to sign audit reports, etc.
146. Auditors to attend general meeting.
147. Punishment for contravention.
148. Central Government to specify audit of items of cost in respect of certain companies.
Companies (Audit and Auditors) Rules, 2014
Forms for Chapter X
Chapter XI (149-172)
APPOINTMENT AND QUALIFICATIONS OF DIRECTORS
149. Company to have Board of Directors.
150. Manner of selection of independent directors and maintenance of data bank of independent directors. Chartered World
151. Appointment of director elected by small shareholders.
152. Appointment of directors.
153. Application for allotment of Director Identification Number.
154. Allotment of Director Identification Number.
155. Prohibition to obtain more than one Director Identification Number.
156. Director to intimate Director Identification Number.
157. Company to inform Director Identification Number to Registrar.
158. Obligation to indicate Director Identification Number.
159. Punishment for contravention.
160. Right of persons other than retiring directors to stand for directorship.
161. Appointment of additional director, alternate director andnominee director.
162. Appointment of directors to be voted individually.
163. Option to adopt principle of proportional representation for appointment of directors.
164. Disqualifications for appointment of director.
165. Number of directorships.
166. Duties of directors. Chartered World
167. Vacation of office of director.
168. Resignation of director.
169. Removal of directors.
170. Register of directors and key managerial personnel and their shareholding.
171. Members’ right to inspect.
172. Punishment.
Companies Appointment and Qualification of Directors) Rules, 2014
Chapter XII (173-195)
MEETINGS OF BOARD AND ITS POWERS
173. Meetings of Board.
174. Quorum for meetings of Board.
175. Passing of resolution by circulation.
176. Defects in appointment of directors not to invalidate actions taken.
177. Audit committee.
178. Nomination and remuneration committee and stakeholders relationship committee.
179. Powers of Board.
180. Restrictions on powers of Board.
181. Company to contribute to bona fide and charitable funds, etc.
182. Prohibitions and restrictions regarding political contributions.
183. Power of Board and other persons to make contributions to national defence fund, etc.
184. Disclosure of interest by director.
185. Loan to directors, etc.
186. Loan and investment by company.
187. Investments of company to be held in its own name.
188. Related party transactions.
189. Register of contracts or arrangements in which directors are interested.
190. Contract of employment with managing or whole-time directors.
191. Payment to director for loss of office, etc., in connection with
transfer of undertaking, property or shares.
192. Restriction on non-cash transactions involving directors.
193. Contract by One Person Company.
194. Prohibition on forward dealings in securities of company by director or key managerial personnel.
195. Prohibition on insider trading of securities.
Companies (Meetings of Board and its Powers) Rules, 2014
Chapter XIII(196-205)
APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL
196. Appointment of managing director, whole-time director or manager.
197. Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits.
198. Calculation of profits. Chartered World
199. Recovery of remuneration in certain cases.
200. Central Government or company to fix limit with regard to remuneration.
201. Forms of, and procedure in relation to, certain applications.
202. Compensation for loss of office of managing or whole-time director or manager.
203. Appointment of key managerial personnel.
204. Secretarial audit for bigger companies.
205. Functions of company secretary.
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014
Chapter XIV (206-229)
INSPECTION, INQUIRY AND INVESTIGATION
206. Power to call for information, inspect books and conduct inquiries.
207. Conduct of inspection and inquiry.
208. Report on inspection made.
209. Search and seizure.
210. Investigation into affairs of company.
211. Establishment of Serious Fraud Investigation Office.
212. Investigation into affairs of company by Serious Fraud Investigation Office.
213. Investigation into company’s affairs in other cases.
214. Security for payment of costs and expenses of investigation.
215. Firm, body corporate or association not to be appointed as inspector.
216. Investigation of ownership of company.
217. Procedure, powers, etc., of inspectors.
218. Protection of employees during investigation.
219. Power of inspector to conduct investigation into affairs of related companies, etc.
220. Seizure of documents by inspector.
221. Freezing of assets of company on inquiry and investigation.
222. Imposition of restrictions upon securities.
223. Inspector’s report. Chartered World
224. Actions to be taken in pursuance of inspector’s report.
225. Expenses of investigation.
226. Voluntary winding up of company, etc., not to stop investigation proceedings.
227. Legal advisers and bankers not to disclose certain information.
228. Investigation, etc., of foreign companies.
229. Penalty for furnishing false statement, mutilation, destruction of documents.
Companies (Inspection, Investigation and Inquiry) Rules, 2014
Chapter XV (230-240)
COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS
230. Power to compromise or make arrangements with creditors and members.
231. Power of Tribunal to enforce compromise or arrangement.
232. Merger and amalgamation of companies.
233. Merger or amalgamation of certain companies.
234. Merger or amalgamation of company with foreign company.
235. Power to acquire shares of shareholders dissenting from scheme or contract approved by majority.
236. Purchase of minority shareholding.
237. Power of Central Government to provide for amalgamation of companies in public interest.
238. Registration of offer of schemes involving transfer of shares.
239. Preservation of books and papers of amalgamated companies.
240. Liability of officers in respect of offences committed prior to merger, amalgamation, etc.
Chapter XVI (241-246)
PREVENTION OF OPPRESSION AND MISMANAGEMENT
241. Application to Tribunal for relief in cases of oppression, etc.
242. Powers of Tribunal.
243. Consequence of termination or modification of certain agreements.
244. Right to apply under section 241.
245. Class action.
246. Application of certain provisions to proceedings under section
241 or section 245.
Chapter XVII(247)
REGISTERED VALUERS
247. Valuation by Registered Valuers.
Chapter XVIII (248-252)
REMOVAL OF NAMES OF COMPANIES FROM THE REGISTER
OF COMPANIES
248. Power of Registrar to remove name of company from register of Companies.
249. Restrictions on making application under section 248 in certain situations.
250. Effect of company notified as dissolved.
251. Fraudulent application for removal of name.
252. Appeal to Tribunal.
Chapter XIX (253-269)
REVIVAL AND REHABILITATION OF SICK COMPANIES
253. Determination of sickness.
254. Application for revival and rehabilitation.
255. Exclusion of certain time in computing period of limitation.
256. Appointment of interim administrator.
257. Committee of creditors.
258. Order of Tribunal.
259. Appointment of administrator.
260. Powers and duties of company administrator.
261. Scheme of revival and rehabilitation.
262. Sanction of scheme.
263. Scheme to be binding.
264. Implementation of scheme.
265. Winding up of company on report of company administrator.
266. Power of Tribunal to assess damages against delinquent directors, etc.
267. Punishment for certain offences.
268. Bar of jurisdiction.
269. Rehabilitation and Insolvency Fund.
Chapter XX (270-365)
WINDING UP
270. Modes of winding up.
PART I.— Winding up by the Tribunal
271. Circumstances in which company may be wound up by Tribunal.
272. Petition for winding up.
273. Powers of Tribunal.
274. Directions for filing statement of affairs.
275. Company Liquidators and their appointments.
276. Removal and replacement of liquidator.
277. Intimation to Company Liquidator, provisional liquidator and Registrar.
278. Effect of winding up order.
279. Stay of suits, etc., on winding up order.
280. Jurisdiction of Tribunal.
281. Submission of report by Company Liquidator.
282. Directions of Tribunal on report of Company Liquidator.
283. Custody of company’s properties.
284. Promoters, directors, etc., to co-operate with Company Liquidator.
285. Settlement of list of contributories and application of assets.
286. Obligations of directors and managers.
287. Advisory Committee. Chartered World
288. Submission of periodical reports to Tribunal
289. Power of Tribunal on application for stay of winding up.
290. Powers and duties of Company Liquidator.
291. Provision for professional assistance to Company Liquidator.
292. Exercise and control of Company Liquidator’s powers.
293. Books to be kept by Company Liquidator.
294. Audit of Company Liquidator’s accounts.
295. Payment of debts by contributory and extent of set-off.
296. Power of Tribunal to make calls.
297. Adjustment of rights of contributories.
298. Power to order costs.
299. Power to summon persons suspected of having property of company, etc.
300. Power to order examination of promoters, directors, etc.
301. Arrest of person trying to leave India or abscond.
302. Dissolution of company by Tribunal.
303. Appeals from orders made before commencement of Act.
PART II.—Voluntary winding up
304. Circumstances in which company may be wound up voluntarily.
305. Declaration of solvency in case of proposal to wind up voluntarily.
306. Meeting of creditors.
307. Publication of resolution to wind up voluntarily.
308. Commencement of voluntary winding up.
309. Effect of voluntary winding up.
310. Appointment of Company Liquidator.
311. Power to remove and fill vacancy of Company Liquidator.
312. Notice of appointment of Company Liquidator to be given to Registrar.
313. Cesser of Board’s powers on appointment of Company Liquidator.
314. Powers and duties of Company Liquidator in voluntary winding up.
315. Appointment of committees.
316. Company Liquidator to submit report on progress of winding up.
317. Report of Company Liquidator to Tribunal for examination of persons.
318. Final meeting and dissolution of company.
319. Power of Company Liquidator to accept shares, etc., as
consideration for sale of property of company.
320. Distribution of property of company.
321. Arrangement when binding on company and creditors.
322. Power to apply to Tribunal to have questions determined, etc.
323. Costs of voluntary winding up.
PART III.—Provisions applicable to every mode of winding up
324. Debts of all descriptions to be admitted to proof.
325. Application of insolvency rules in winding up of insolvent companies.
326. Overriding preferential payments.
327. Preferential payments.
328. Fraudulent preference.
329. Transfers not in good faith to be void.
330. Certain transfers to be void.
331. Liabilities and rights of certain persons fraudulently preferred.
332. Effect of floating charge.
333. Disclaimer of onerous property.
334. Transfers, etc., after commencement of winding up to be void.
335. Certain attachments, executions, etc., in winding up by Tribunal to be void.
336. Offences by officers of companies in liquidation.
337. Penalty for frauds by officers.
338. Liability where proper accounts not kept.
339. Liability for fraudulent conduct of business.
340. Power of Tribunal to assess damages against delinquent directors, etc.
341. Liability under sections 339 and 340 to extend to partners or directors in firms or companies.
342. Prosecution of delinquent officers and members of company.
343. Company Liquidator to exercise certain powers subject to sanction.
344. Statement that company is in liquidation.
345. Books and papers of company to be evidence.
346. Inspection of books and papers by creditors and contributories.
347. Disposal of books and papers of company.
348. Information as to pending liquidations.
349. Official Liquidator to make payments into public account India.
350. Company Liquidator to deposit monies into scheduled bank.
351. Liquidator not to deposit monies into private banking account.
352. Company Liquidation Dividend and Undistributed Assets Account.
353. Liquidator to make returns, etc.
354. Meetings to ascertain wishes of creditors or contributories.
355. Court, Tribunal or person, etc., before whom affidavit may be sworn.
356. Powers of Tribunal to declare dissolution of company void.
357. Commencement of winding up by Tribunal.
358. Exclusion of certain time in computing period of limitation.
Chartered World
PART IV.—Official liquidators
359. Appointment of Official Liquidator.
360. Powers and functions of Official Liquidator.
361. Summary procedure for liquidation.
362. Sale of assets and recovery of debts due to company.
363. Settlement of claims of creditors by Official Liquidator.
364. Appeal by creditor.
365. Order of dissolution of company.
Chapter XXI (366-378)
PART I.—Companies authorised to register under this Act
366. Companies capable of being registered.
367. Certificate of registration of existing companies.
368. Vesting of property on registration.
369. Saving of existing liabilities.
370. Continuation of pending legal proceedings.
371. Effect of registration under this Part.
372. Power of Court to stay or restrain proceedings.
373. Suits stayed on winding up order.
374. Obligation of Companies registering under this Part.
PART II.—Winding up of unregistered companies
375. Winding up of unregistered companies.
376. Power to wind up foreign companies although dissolved.
377. Provisions of Chapter cumulative.
378. Saving and construction of enactments conferring power to wind up partnership firm, association or company, etc., in certain cases.
Companies (Authorised to Registered) Rules, 2014
Chapter XXII (379-393)
COMPANIES INCORPORATED OUTSIDE INDIA
379. Application of Act to foreign companies.
380. Documents, etc., to be delivered to Registrar by foreign companies.
381. Accounts of foreign company.
382. Display of name, etc., of foreign company.
383. Service on foreign company.
384. Debentures, annual return, registration of charges, books of account and their inspection.
385. Fee for registration of documents.
386. Interpretation.
387. Dating of prospectus and particulars to be contained therein.
388. Provisions as to expert’s consent and allotment.
389. Registration of prospectus.
390. Offer of Indian Depository Receipts.
391. Application of sections 34 to 36 and Chapter XX.
392. Punishment for contravention.
393. Company’s failure to comply with provisions of this Chapter not to affect validity of contracts, etc.
Companies (Registration of Foreign Companies) Rules, 2014
Chapter XXIII (394-395)
GOVERNMENT COMPANIES
394. Annual reports on Government companies.
395. Annual reports where one or more State Governments are members of companies.
Chapter XXIV (396-404)
REGISTRATION OFFICES AND FEES
396. Registration offices. Chartered World
397. Admissibility of certain documents as evidence.
398. Provisions relating to filing of applications, documents, inspection, etc., in electronic form.
399. Inspection, production and evidence of documents kept by Registrar.
400. Electronic form to be exclusive, alternative or in addition to physical form.
401. Provision of value added services through electronic form.
402. Application of provisions of Information Technology Act, 2000.
403. Fee for filing, etc.
404. Fees, etc., to be credited into public account.
Companies (Registration Offices and Fees) Rules, 2014 (amendments incorporated)
Chapter XXV(405)
COMPANIES TO FURNISH INFORMATION OR STATISTICS
405. Power of Central Government to direct companies to furnish information or statistics.
Chapter XXVI
NIDHIS
406. Power to modify Act in its application to Nidhis.
Nidhi Rules, 2014
Chapter XXVII(407-434)
NATIONAL COMPANY LAW TRIBUNAL AND APPELLATETRIBUNAL
407. Definitions.
408. Constitution of National Company Law Tribunal.
409. Qualification of President and Members of Tribunal.
410. Constitution of Appellate Tribunal.
411. Qualifications of Chairperson and members of AppellateTribunal.
412. Selection of Members of Tribunal and Appellate Tribunal.
413. Term of office of President, Chairperson and other Members.
414. Salary, allowances and other terms and conditions of service ofMembers.
415. Acting President and Chairperson of Tribunal or AppellateTribunal.
416. Resignation of Members.
417. Removal of Members.
418. Staff of Tribunal and Appellate Tribunal.
419. Benches of Tribunal.
420. Orders of Tribunal.
421. Appeal from Orders of Tribunal.
422. Expeditious disposal by Tribunal and Appellate Tribunal.
423. Appeal to Supreme Court.
424. Procedure before Tribunal and Appellate Tribunal.
425. Power to punish for contempt.
426. Delegation of powers.
427. President, Members, officers, etc., to be public servants.
428. Protection of action taken in good faith.
429. Power to seek assistance of Chief Metropolitan Magistrate, etc.
430. Civil court not to have jurisdiction.
431. Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings.
432. Right to legal representation.
433. Limitation.
434. Transfer of certain pending proceedings.
Chapter XXVIII(435-446)
SPECIAL COURTS
435. Establishment of Special Courts.
436. Offences triable by Special Courts.
437. Appeal and revision. Chartered World
438. Application of Code to proceedings before Special Court.
439. Offences to be non-cognizable.
440. Transitional provisions.
441. Compounding of certain offences.
442. Mediation and conciliation penal.
443. Power of Central Government to appoint company prosecutors.
444. Appeal against acquittal.
445. Compensation for accusation without reasonable cause.
446. Application of fines.
Chapter XXIX (447-470)
MISCELLANEOUS
447. Punishment for fraud.
448. Punishment for false statements.
449. Punishment for false evidence.
450. Punishment where no specific penalty or punishment isprovided.
451. Punishment in case of repeated default.
452. Punishment for wrongful withholding of proaperty.
453. Punishment for improper use of “Limited” or “Private Limited”.
454. Adjudication of penalties.
455. Dormant company.
456. Protection of action taken in good faith.
457. Non-disclosure of information in certain cases.
458. Delegation by Central Government of its powers and functions.
459. Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees onapplications.
460. Condonation of delay in certain cases.
461. Annual report by Central Government.
462. Power to exempt class or classes of companies from provisionsof this Act.
463. Power of court to grant relief in certain cases.
464. Prohibition of association or partnership of persons exceedingcertain number.
465. Repeal of certain enactments and savings.
466. Dissolution of Company Law Board and consequentialprovisions.
467. Power of Central Government to amend Schedules.
468. Powers of Central Government to make rules relating to winding up.
469. Power of Central Government to make rules.
470. Power to remove difficulties.

Suggested Answers- Accounting

ICAI Suggested Answers of Previous years are very helpful in preparation of Exams. Here find out suggested answers in Accounting

May 2017

November 2016

May 2016

November 2015 – Hindi Medium 

November 2015

May 2015

May 2015 – Hindi Medium

November 2014

May 2014

November 2013

May 2013

November 2012  

CA Articleship

Commencement of practical Training in CA firm,practicing chartered accountant firm,Practicing chartered accountants firm or practicing chartered accountant for ca students.
CA article ship for CPT route students or Foundation route students
To begin Articleship, After passing either or both groups of IPCE or Intermediate examination and successfully completing Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS)
CA article ship for Direct Entry Route
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Accounting Standards list 2017

 

List of Accounting standards are mandatory

Accounting Standards mandatory as on July 1, 2017

AS 1 Disclosure of Accounting Policies
AS 2 Valuation of Inventories
AS 3 Cash Flow Statements
AS 4 Contingencies and Events Occurring After Balance Sheet Date
AS 5 Net profit or Loss for the period, Prior Period Items and Changes in Accounting Policies
AS 7 Construction Contracts
AS 9 Revenue Recognition
AS 10 Property, Plant and Equipment
AS 11 The Effects of Changes in Foreign Exchange Rates
AS 12 Government Grants
AS 13 Accounting for Investments
AS 14 Accounting for Amalgamations
AS 15 Employee Benefits
AS 16 Borrowing Costs
AS 17 Segment Reporting
AS 18 Related Party Disclosures
AS 19 Leases
AS 20 Earnings Per Share
AS 21 Consolidated Financial Statements
AS 22 Accounting for Taxes on Income
AS 23 Accounting for Investments in Associates
AS 24 Discontinuing Operations
AS 25 Interim Financial Reporting
AS 26 Intangible Assets
AS 27 Financial Reporting of Interests in Joint Ventures
AS 28 Impairment of Assets
AS 29 Provisions, Contingent Liabilities and Contingent Assets

 

 

accounting standards

The Accounting standards of the ICAI are to ensure that Accounts are prepared uniformly and in line with the Indian GAAPs for better understanding of the users.

List of Accounting Standards 

32 accounting standards are issued by ICAI. They are as follows.

AS 1 Disclosure of Accounting Policies

AS 2 Valuation of Inventories

AS 3 Cash Flow Statements

AS 4 Contingencies and Events Occuring after the Balance Sheet Date

AS 5 Net Profit or Loss for the period,Prior Period Items and Changes in Accounting Policies

AS 6 Depreciation Accounting

AS 7 Construction Contracts

AS 8 Accounting for Research and Development (withdrawn after as26)

AS 9 Revenue Recognition

AS 10 Accounting for Fixed Assets

AS 11 The Effects of Changes in Foreign Exchange Rates

AS 12 Accounting for Government Grants

AS 13 Accounting for Investments

AS 14 Accounting for Amalgamations

AS 15 Accounting for Retirement Benefits in the Financial Statement of Employers

AS 16 Borrowing Costs

AS 17 Segment Reporting

AS 18, Related Party Disclosures

AS 19 Leases

AS 20 Earnings Per Share

AS 21 Consolidated Financial Statements

AS 22 Accounting for Taxes on Income.

AS 23 Accounting for Investments in Associates in Consolidated Financial Statements

AS 24 Discontinuing Operations

AS 25 Interim Financial Reporting

AS 26 Intangible Assets

AS 27 Financial Reporting of Interests in Joint Ventures

AS 28 Impairment of Assets

AS 29 Provisions,Contingent` Liabilities and Contingent Assets

AS 30 Financial Instruments: Recognition and Measurement

AS 31 Financial Instruments: Presentation

AS 32Financial Instruments

CA Course 2018

  • CA Course new Syllabus of ICAI applicable from may 2018
  • ICAI conducts exams in November/ May
  • Requirements to become a Chartered Accountant
  1. Through Foundation Course route
  2. Through Direct Entry route
  • Articleship training period is 3 years
  • During Articleship practical exposure is available
  • CA Course backed by theoretical and practical knowledge
  • CA course offered by ICAI has been ranked No. 2, worldwide
  • Complementing theoretical education by practical training;
  • Instilling technical skills through Information Technology Trainings under ICITSS & AICITSS
  • Instilling inter-personal and soft skills through Orientation Course and Management and Communication
    Skills (MCS) courses under ICITSS & AICITSS

ICAI Exam centers in NIRC

ICAI Exam centers in NIRC Nov 2017

Covering States of Delhi, Haryana, H.P., J&K, Punjab and U.T. of Chandigarh

Code Name Zone
501 Ambala
502 Amritsar
503 Bathinda
504 Bhiwani
505 Chandigarh
506 Delhi / New Delhi – I Karol Bagh, Pusa Road, Patel Nagar, Kirti Nagar
507 Delhi / New Delhi – Ii Pitampura, Rohini
508 Delhi / New Delhi – Iii Paschim Vihar, Punjabi Bagh
509 Delhi / New Delhi – Iv Nizamuddin, Lajpat Nagar, Lodi Road, Kalkaji
510 Delhi / New Delhi – V Geeta Colony, Priyadarshani Vihar, Karkardooma, Vivek Vihar, I.P. Extension
511 Delhi / New Delhi – Vi Vasundhara Enclave, Mayur Vihar, Anand Vihar
512 Delhi / New Delhi – Vii Kingsway Camp, Darya Ganj, Shalimar Bagh, Sarup Nagar
513 Delhi / New Delhi – Viii Janakpuri, Dwarka, Vikaspuri
514 Faridabad
515 Fatehabad
516 Gurgaon
517 Hisar
518 Jalandhar
519 Jammu
520 Jind
521 Kaithal
522 Karnal
523 Ludhiana
524 Panipat
525 Patiala
526 Rewari
527 Rohtak
528 Sangrur
529 Shimla
530 Sirsa
531 Sonepat
532 Srinagar (J&K)
533 Yamunanagar

ICAI Exam centers in CIRC

ICAI Exam centers in CIRC Nov 2017

Covering States of Bihar, Chhattisgarh, Jharkhand, M.P., Rajasthan, Uttarakhand and U.P

Code Name Zone
401 Agra
402 Ajmer
403 Aligarh
404 Allahabad
405 Alwar
406 Bareilly
407 Beawar
408 Bharatpur
409 Bhilwara
410 Bhopal – I Shamla Hills, Jahangirabad, Hamidiya Road, Rayal Market, Malviya Nagar, T.T.Nagar, New Market, Jawaharchok, P & T Colony, Neelbad, Ratibad, Karond, Jumerati, Nishatpura, Indrapuri, Shubhash Nagar, Rachna Nagar, Kasturba Nagar, M.P. Nagar, Govindpura, Aishbagh, Kabirpura, Kolar, Misrod, Piplani, Arera Colony, Anand/Nagar, Minal Residency, Sakti Nagar, Habibganj, Awadhpuri
411 Bhopal – Ii Gandhi Nagar, Airport Road, Lalghati, Sehore, Phanda, Khajuri, Krishna Nagar, Sanjeev Nagar, Santi Nagar, Kuravar, Chandukhedi, Kohefiza, Halalpura, Abbas Nagar, Moti Masjid, Idgah Hill
412 Bikaner
413 Bilaspur
414 Bundi
415 Chittorgarh
416 Churu
417 Dehradun
418 Dhanbad
419 Durg
420 Firozabad
421 Ghaziabad
422 Gorakhpur
423 Gwalior
424 Hardwar
425 Indore – I Vijay Nagar, Nanda Nagar, Mig/Lig Colony, Patnipura, Scheme No.54, Scheme No.74, Scheme No.78, Shalimar Township, Mahalaxmi Nagar, Tilak Nagar, Kanadia Road, Saket, Telephone Nagar, Goyal Nagar, Bengali Square, Khajrana, Dewas Naka, Malviya Nagar, Nehru Nagar
426 Indore – Ii Chawni, South Tukoganj, Geeta Bhavan, Chhoti Gwal Toli, Mth Compound, Sneh Nagar, Kanchan Bag, Bhawankuwa, M.Y. Hospital Road, Rnt Marg, Malwa Mill, Janjir Wala Square, Nasia Road, Naulakha, Sapna Sangeeta, Khatiwala Tank, Palsikar Colony, Sanchar Nagar, Agrawak Nagar, Juni Indore, Jail Road, Joara Compound, Rajwada, Devas, Mhow
427 Indore – Iii Rajendra Nagar, Annapuran Road, Vaishali Nagar, Gumasta Nagar, Suadma Nagar, Usha Nagar, Raj Mohalla, Mahesh Nagar, Bada Ganpati, Aerodrome Road, Kalani Nagar, Gandhi Nagar, Banganga, Marimata Chouraha, Lokymanya Nagar
428 Jabalpur
429 Jaipur
430 Jamshedpur
431 Jhansi
432 Jhunjhunu
433 Jodhpur
434 Kanpur
435 Kishangarh
436 Kota
437 Lucknow
438 Mathura
439 Meerut
440 Moradabad
441 Muzaffarnagar
442 Neemuch
443 Noida
444 Pali-Marwar
445 Patna
446 Raipur
447 Ranchi
448 Ratlam
449 Saharanpur
450 Sikar
451 Sriganganagar
452 Udaipur
453 Ujjain
454 Varanasi

ICAI exam centers in EICASA

ICAI exam centers in EICASA November 2017

Covering States of North East States, Odisha, West Bengal and U.T. of Andaman & Nicobar Islands

 

Code Name Zone
301 Asansol
302 Berhampore
303 Bhubaneswar
304 Cuttack
305 Durgapur
306 Guwahati
307 Kolkata – I Kolkata South
308 Kolkata – Ii Kolkata North
309 Kolkata – Iii Howrah
310 Rourkela
311 Sambalpur
312 Siliguri
313 Tinsukia