Category Archives: CA

Notes on CA Final AMA

CHAPTER 1: DEVELOPMENTS IN BUSINESS ENVIRONMENTAccounting is the language of business that communicates the financialresults of an enterprise to various stakeholders viz., investors, regulatingagencies, the management itself etc. by means of various financialstatements. Accounting is the process of identifying, measuring, recording,classifying, summarising, analyzing, interpreting and communicating thefinancial transactions and events. Accounting is classified into FinancialAccounting,… Read More »

Notes on Company Law for CA Final

Notes on Company Law Points to Remember 1.     All amendments corresponding with companies act 2013 are compiled in this summary 2.     Many sections of new companies act 2013 is not notified by MCA (ministry of corporate affairs) so that sections are of old companies act 1956 3.     Wherever as per companies act written that means… Read More »

Economical Value Added Income

ECONOMIC VALUE ADDED (EVA)1. Delta Ltd.’s current financial year’s income statement reports its net income as Rs. 15, 00,000. The marginal Tax Rate is 40% and its interest expense for the year was Rs. 15, 00,000. The company has Rs. 1, 00, 00,000 of invested capital, of which 60% is debt. In addition, Delta Ltd… Read More »

CA Final Capital Gain Objective question Answers

Objective Questions on Basic Concepts of Capital Gain 1 Which of the following is not a capital asset ? a Car used for household purposes c Rural Residentail Land b Jewellery d Patent Rights 2 Which of the the following asset shall be long term after completing the holding period of more than 12 months?… Read More »

Nature of Auditing Notes for IPCC Group 2

Nature of Auditing Notes1. As per SA 240, the primary responsibility of detection and prevention of fraud is upon with the charge of governance and management. An auditor conducting an audit is responsible for to check that the financial statement taken as whole are free from material statement, whether caused by fraud or error. 2.… Read More »

CA Student Articleship Work Diary

Category        *  Sub Category   Accounting  Maintaining books of account Preparing Final accounts Compliance  with Accounting Standards and other pronouncements Analysis and interpretation Preparing and Reviewing budgets, fund-flow and cash flow statements Others (to be specified) Audit – Statutory/Internal/Concurrent  Routine audit work Review of General Ledger Scrutiny of provisional entries  Verification and Valuation of… Read More »

Central Excise Notification & Circulars for May 2016 Exam

Significant Notifications and Circulars of central excise issued between 1st May, 2015 and 31st October, 2015 Central Excise  1. No refund of CENVAT credit under rule 5B to service providers providing manpower supply/ security services Rule 5B of the CENVAT Credit Rules, 2004 provides that service providers, rendering notified reverse charge services, being unable to… Read More »

CA CPT November 2015 Pass percentage

CA Common Proficiency Test November 2015 pass percentageAlso CPT pass percentage from 2006-2015 November. MONTH                             YEAR   ATT.       PASS         PERCENTAGE December 2015 99077 34129 34.45 June 2015 128916 32619 25.3 December 2014 100957 14880… Read More »

CA Final Amendments by Finance Act 2015 applicable for May 2016

DIRECT TAXESAMENDMENT OF FINANCE ACT, 2015APPLICABLE FOR MAY 2016 INTRODUCTIONThe Finance Bill, 2015 proposes to make amendments in direct tax provisions by proposing amendments to the Income-tax Act, 1961, Wealth-tax Act, 1957, Finance Act, 1994 and Finance (No.2) Act, 2004.  A gist of the main amendments is given below:-Direct Taxes2.         Rates… Read More »

CA IPC May 2016 Amendments

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2016 – Intermediate (IPC) ExaminationPaper 1: AccountingAccounting StandardsAS 1 : Disclosure of Accounting PoliciesAS 2 : Valuation of InventoriesAS 3 : Cash Flow StatementsAS 6 : Depreciation AccountingAS 7 : Construction Contracts (Revised 2002)AS 9 : Revenue RecognitionAS 10 : Accounting for Fixed AssetsAS 13 : Accounting… Read More »