CA intermediate new syllabus in Accounts applicable from may 2018
Accounting – Three hours – 100 Marks
1. Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.
2. Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards).
3. Application of Accounting Standards:
AS 1 : Disclosure of Accounting Policies
AS 2 : Valuation of Inventories
AS 3 : Cash Flow Statements
AS 4 : Contingencies and Events occurring after the Balance Sheet Date
AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
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
AS 17 : Segment Reporting
AS 22 : Accounting for Taxes on Income
4. Company Accounts
i. Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;
ii. Managerial Remuneration;
iii. Accounting for tax: Concept of deferred tax asset and deferred tax liability in line with AS 22 “Accounting for Taxes”;
iv. Profit (Loss) prior to incorporation;
v. Accounting for bonus issue and right issue;
vi. Redemption of preference shares;
vii. Redemption of debentures.
5. Accounting for Special Transactions
ii. Insurance claims for loss of stock and loss of profit;
iii. Hire – purchase and Instalment sale transactions.
6. Special Type of Accounting
i. Departmental accounting;
ii. Accounting for branches including foreign branches;
iii. Accounts from incomplete records.
7. Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.