Final examination- November 2011 Application Form

It is seen that Point 1.2(iv) of the eligibility criteria on Page no 1 of the Final examination form for November 2011 contains an error which has crept in inadvertently, through oversight: The said Point no 1.2(iv), as corrected, be read as follows: “You must be in service as on 1st November 2011 and serving the last six months of training including excess leave, if any, and due to complete 3 ½ years on or before 30th April 2012 ( PCC students) ( Certificate of service to this effect should be sent to Additional Secretary (Exam) by 30th November 2011)” However, the relevant condition( applicable to PCC candidates) as appearing at Point No 6 (III) on Page 6 of the “Notes for information and guidance of applicants” and Point No 7 of the OMR application form is appearing correctly. Inconvenience, if any, caused to students in this regard is deeply regretted.

Examination Dept ICAI

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Integrated Professional Competence Examination (IPCE)/Final examination- November 2011 Application Form

IPCE/Final examination application forms for November 2011 examination provide for filling in passing details of PEE II/ PCE/IPCE examinations. Such details include the date/month/year and roll number of the earlier examinations passed. It is noted that the relevant portion/s of the application form provide for five boxes/circles only whereas there is a possibility that some of the students‘ roll number may contain more than 5 digits. It is hereby clarified that such candidates are requested to fill up only the last 5 digits of their roll number and leave out the first digit. For example, if a student’s roll number is 172536, he should fill up only the digits 72536 leaving the first digit, i.e. 1, ( the first digit from the left) Inconvenience, if any, caused to students in this regard is deeply regretted.

Examination Dept ICAI.

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Suggested Answers - May 2011 - Integrated Professional Competence Course [IPCC]

ICAI Released Suggested Answers - May 2011 - Integrated Professional Competence Course [IPCC]
Only First Group Suggested has been released by ICAI
To Download click here

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The Person who will share the link WWW.STUDYCAFE.IN on Facebook Profile  will get a free Mobile Recharge of Rs.500. If you are a Page Owner then You can share it on Your Page also. Share this link till 30th september and the person who will get maximum likes will get the free recharge Worth of Rs.500. You can share this link multiple times and add all the likes. Suppose you share like today and you get 10 likes and you share it tomorrow and you get 15 likes then your total likes is 25. Use print screen option or take a snap shot after people like the link and send your entries to contact@studycafe.in 

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ICAI Announces KYC Norms for Chartered Accountant

Keeping in mind the highest standards of Chartered Accountancy Profession in India, the council of ICAI thought it necessary to recommend known as know your client (KYC) to be observed by all Practising Chartered Accountants.
All the members of Institute of Chartered Accountants of India (ICAI), who are in practice,  are hereby informed that the Council has formulated the following Know Your Client Norms (KYC norms)  at it’s 307th Meeting held on 13th July,2011, which shall be recommendatory in nature, and apply only in case of attest function.

KNOW YOUR CLIENT (KYC) NORMS

The financial services industry globally is required to obtain information of their clients and comply Know Your Client Norms (KYC norms). Keeping in mind the highest standards of Chartered Accountancy profession in India, the Council of ICAI thought it necessary to recommend such norms to be observed by the members of the profession who are in practice. In light of this background, the Council of ICAI approved the following KYC Norms. However, these norms are recommendatory in nature and every Chartered Accountant carrying out attest function is encouraged to follow them.


1. ENTITY INFORMATION
A. GENERAL INFORMATION

• Name of the Entity
• Type of Entity
• Business Description

B. CORPORATE STRUCTURE

• Name of ultimate parent company
• Name of Parent company Name of Affiliates

C. REGULATORY INFORMATION

• Company PAN No
• Company Identification No
• Directors’ Identification No
• Directors’ Names & Addresses
• Name(s) and Addresses of Companies, in which above person is director.

D. ENGAGEMENT INFORMATION

• Type of Engagement

2. OTHER INFORMATION

• Entities  financial Information
• Name of the ultimate parent Auditor
• Any known violation of any Law/Regulations

This decision shall be in force from 13th July, 2011

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Period of validity of Registration in CA Course - (04-08-2011)

BoS/ Announcement/227/11

July 27, 2011

In continuation of Institute’s Announcement dated June 23, 2011 on Institute’s website and in the Chartered Accountants Students Journal (July, 2011 issue) regarding Period of Validation of Registration in Chartered Accountancy Course, it is informed that the referred announcement is put on hold till further clarification/ announcement in the matter.

Students may note.

Director
Board of Studies

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Integrated Professional Competence Course (IPCC) -Revision Test Papers (November 2011)

Integrated Professional Competence Course (IPCC) -Revision Test Papers (November 2011) 
To Download Click here
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Don’t worry, Due Date of Filing Return for Asst Yr. 2011-12 is not 31st July But 1st August !

July 31st is Sunday and the income tax department has announced for special arrangement for receiving the returns. However, the department has not notified it as the working day. In essence , while the department is making endeavor to get the returns from , you , still in the income tax department , it is public holiday.

This is very common anxiety for all person who did not file Return till last date and last date happens to be a holiday. Fortunately , there is laws under General Clauses Act 1897 ,which clears the confusion. As per Section 10 of the said Act , if last day happens to be a day on which government office or court happens to be closed, next day on which the office opens is the last date.

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XBRL Filing date extended to 30/11/2011 !

A sigh of relief for the companies who are required to file their Balance sheet and Profit and Loss account in XBRL mode as the Ministry of Corporate Affairs vide its general circular No. 57/2011 dated 28/7/2011 has extended the due date of filing without any additional fees up to 30-11-2011 or within 60 days of their due date, whichever is later.

Another relief for the companies provided by the same circular is that the accounts that are required to be filed in XBRL mode can be verified and certified by the authorized signatory of the company. Earlier vide general circular No. 43/2011, the statutory auditor of the company was to certify the correctness of the financial statements to be filed in XBRL mode. After this circular the verification and certification of the XBRL document of financial statements on the e-forms would continue to be done by authorized signatory of the company as well as professional like Chartered Accountant or Company Secretary or Cost Accountant in whole time practice.

Below is the circular for ready reference –

FILING OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT IN EXTENSIBLE BUSINESS REPORTING LANGUAGE (XBRL) MODE – EXTENSION OF DATE OF FILING AND VERIFICATION AND CERTIFICATION OF THE XBRL DOCUMENT OF FINANCIAL STATEMENTS BY AUTHORIZED SIGNATORY OF THE COMPANY AS WELL AS PROFESSIONAL LIKE CHARTERED ACCOUNTANT OR COMPANY SECRETARY OR COST ACCOUNTANT IN WHOLE TIME PRACTICE.

CIRCULAR NO. 57/2011, DATED 28-7-2011
The Para 3 of the Circular No. 37/2011, dated 7-6-2011 may be read as under: -

“All companies falling in Phase-I class of companies (excluding exempted class) are permitted to file their financial statements without any additional fee up to 30-11-2011 or within 60 days of their due date, whichever is later.”

2. Further, in supersession of Para 2(i) of Ministry’s Circular No. 43/2011, dated 7-7-2011, it is informed that the verification and certification of the XBRL document of financial statements on the e-forms would continue to be done by authorized signatory of the company as well as professional like Chartered Accountant or Company Secretary or Cost Accountant in whole time practice.

3. This issue with approval of Competent Authority.

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President's Message - August 2011 - (29-07-2011)

CA Final and CPT Results Declared: A Female-Power Show

May 2011 CA Final Examination: The results of the CA Final Examination have been declared  recently.Pass percentage of male and female candidates for both Group I and II are 19.81 and  21.91 per cent,respectively. Pass percentage of male and female candidates for Group I and  Group II are 35.97 and 37.09, and 25.51 and 29.22 per cent, respectively. Female candidates  have done better than their male counterparts in all the Groups individually too.  EIRC (eastern region) has given most pass percentage for both Group I and II this year, i.e.  26.78, whereas NIRC and CIRC stand close second and third with 21.76 and  20.56 per cent, respectively, as pass percentage for both Group I and II. Individually too,EIRC has the best  pass percentage for Group I, i.e. 41.64 per cent, as well as for Group II, i.e.  31.66 per cent. It is noteworthy that the top three all-India rank holders for the CA Final  Examination are all female candidates:Maitreyee N. Rajaput, Arti Jain and Charmy S. Seth.  I congratulate all of them and would like to make an appeal to all other female student  candidates: Hard work pays. Always keep your spirits high. To Read Whole Article Click Here _______________________________________________________________________________

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CA IPCC And PCC Results Likely to Declare on 8th August-ICAI

The results of the Chartered Accountants Professional Competence and Integrated
Professional Competence Examinations held in May, 2011 are likely to be declared tentatively on Monday, the 8thAugust, 2011 around 2 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank and in accordance with the decision of the Examination Committee) on all India basis will be available on the following website. www.caresults.nic.in
Arrangements have also been made for the students desirous of having results on their email addresses to pre-register their requests at the above website, i.e. http://www.caresults.nic.in from 4thAugust, 2011. All those registering their requests will be provided their results through e-mail on the e-mail addresses registered as above immediately after the declaration of the result.
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Download PCC RTP Relevant for November 2011 Examination

Group - I

Paper - 1 : Advanced Accounting

Paper – 2 : Auditing and Assurance

Paper – 3 : Law, Ethics and Communication Till now only Group 1 RTP is released by ICAI Grp 2 RTP is not yet released. _____________________________________________________________________________

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Add Members to Studycafe Group & Win Mobile Recharge Worth Rs.500

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The winner will be announced on the 1st week of September on this website.

There is one condition add only those persons who are doing CA CS ICWA or have completed it.
Send your entries at contact@studycafe.in in below format
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And do attached the images as a proof

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Solution Of PCC provided by ICAI

To Download the solutions of  PCC click here
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Point of Taxation Rules not Applicable for November 2011 Exam

IMP Announcement-
Point of Taxation (POT) Rules,2011 and  Consequential Amendments in CENVAT Credit Rules n Service tax not applicable for november 2011 Exams.
To see the notification Click here
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