Applicability of study guidelines for CA Final May 2020 New and Old course exams

Posted on    28 December 2019

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May 2020 -Intermediate (New Course) Examination 

Intermediate Level (New Course) Paper 1: Accounting

List of Applicable Accounting Standards

  • AS 1 : Disclosure of Accounting Policies
  • AS 2 : Valuation of Inventories
  • AS 3 : Cash Flow Statements
  • 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

Applicability of the Companies Act, 2013 and other Legislative Amendments for May, 2020 Examination

The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authorities up to 31st October, 2019 will be applicable for May, 2020 Examination.

Non-Applicability of Ind AS

The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS do not form part of the syllabus and hence are not applicable.

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Applicability of Standards/Guidance Notes/Legislative Amendments etc. for May, 2020 – Final (New) Examination


List of topic-wise exclusions from the syllabus (1)



S. No. in the revised syllabus

Topics of the syllabus



Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements

(v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS

(viii) Other Ind AS

Indian Accounting Standard (Ind AS) 37 ‘Provisions, Contingent Liabilities and Contingent Assets’

  • Appendix A: Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds
  • Appendix B: Liabilities arising from Participating in a Specific Market - Waste Electrical and Electronic Equipment
  • Indian Accounting Standard (Ind AS) 29 : Financial Reporting in Hyperinflationary Economies
  • Indian Accounting Standard (Ind AS) 104: Insurance Contracts
  • Indian Accounting Standard (Ind AS) 106: Exploration for and Evaluation of Mineral Resources
  •  Indian Accounting Standard (Ind AS) 114 : Regulatory Deferral Accounts


Analysis of financial statements

  • Analysis of financial statements based on Accounting Standards

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