Monday, 15 December 2014

AMENDMENTS APPLICABLE FOR IPCC, MAY 2015

Important Post regarding amendments applicable for IPCC, May 2015 :
Paper 1 : Accounts -
Chapter Name - Financial Statements of Companies :
* Meaning of company
* Books of accounts to be maintained at registered office.
* List of statuary books to be maintained.
* Annual Return of company
* Schedule III of companies Act, 2013
* Managerial remuneration 
* Dividend
* Other small topics
Note 1 :- All above topics are amended as per Companies Act, 2013.
Note 2:- Schedule III is exactly same as Schedule VI of companies act, 1956 only name have been changed.
Chapter name - Accounting for Bonus Issue :
* Section 63 of Companies Act, 2013 related to issue of bonus shares.
Paper 2 : Law, Ethics & Communication -
There are addition of sections in Companies Act, 2013 which are notified by MC i.e. Section 1-122 are applicable for May 2015 .
Note: This will be better if you buy new book for company law. I will suggest hand book by Munish bhandari and practice manual and those who can't afford new book can refer icai module.
Paper 3 : Cost & FM - No change
Paper 4 : Taxation - I am giving link for supplementary material which includes both direct and indirect tax amendments -
Paper 5 : Advance Accounts -
Changes are related to Schedule III mainly and other changes u can trace in RTP which will be released soon.
Paper 6 : Auditing -
There are changes in Company Audit 1 and 2 chapter.
Paper 7 : IT & SM - No changes
All major amendments are covered in above post. Still check RTP for more changes and cross check amendments given above. 

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