JhanCAr - Togetherness Networking Carnival for Chartered Accountants | 13th & 14th December 2014

JhanCAr - 'Togetherness & Networking Carnival' for Chartered Accountants

An Event filled with Fun, Frolic and Networking for Chartered Accountants of all age group

LET’S MAKE THIS EVENT A HUGE SUCCESS – WE AWAIT YOUR ACTIVE PARTICIPATION

BCAS strives to evolve continuously, adapt and remain relevant in changing times that has contributed to the longevity of the organization over the last six decades. As a premier voluntary group of Chartered Accountants, BCAS is acclaimed for conceptualizing and implementing innovative events aimed towards enhancing the suitability of its members in an ever-changing dynamic governance environment. In this constant endeavour BCAS has now firmed up its initiative to organise a first-of-its-kind ‘Togetherness and Networking Carnival’ for Chartered Accountants christened as ‘JhanCAr’.

JhanCAr is modelled and driven by an enthusiastic youth-wing of the BCAS under the mentorship of veteran committee members. The idea of JhanCAr evolved from BCAS’s clear objective of having a non-technical and non-academic festival of, by and for the Chartered Accountants with the two key targets of networking and celebrating togetherness. With simultaneous events happening across multiple venues under the premier carnival location of Jashoda Rangmandir(Next to N.M Collage), Juhu, Vile Parle (West); JhanCAr aims to power-pack the two days of 13thand 14th December, 2014 with festivities that would exceed the expectations of participating Chartered Accountants. Register Now!! Limited Capacity!! First cum First Serve Basis!!  Online Registration and Payments: www.bcasjhancar.com Offline Registration Collect forms from BCAS office or Download forms from www.bcasjhancar.com and submit at: Bombay Chartered Accountants' Society, 7, Jolly Bhavan 2, Ground Floor, New Marine Lines, Mumbai – 400020 Events at JhanCAr 2014 Networking Night: Work coupled with Network can create wonders. Recreate the nostalgia and take home a new network at ‘Ek Sham Dosti Ke Naam’ – Register Now Competitions Caravan: Compete in interesting individual and group games get the tagline of‘Khelein Hum Jee Jaan Se’. – Register Now Workshops Wonder: Interesting non-technical workshops and live demonstrations await you at‘Masti Ki Paatshala’. Corporate Connect: A rare occasions to network and connect with leading and relevant corporatesrecommending their best wares at ‘Corporate Mela’. Fun-and-Frolic: For your family and in remembrance of good old days, the ‘Hum Bhi AgarBachche Hote’ fair. Book a Stall now

We look forward to meeting you in person to make JhanCAr a memorable beginning.

More at www.bcasjhancar.com PLEASE FORWARD THIS MESSAGE TO YOUR FRIENDS/COLLEAGUES/ etc. HELP US TO MAKE THIS EVENT GRAND SUCCESS

Team JhanCAr!! Dedicate to Serve Fun-Filled Memories                                                            Key Contacts Chirag Doshi               Kinjal Shah

9820452332             9892100844            em@bcasonline.org

Procedure for providing Inspection or Certified Copies of Evaluated Answer Books

ICAI has announcd the Procedure for providing Inspection or Certified Copies of Evaluated Answer Books.


Click here to read the full text: Announcement

CPT Mock Test for June, 2011 Exam---Last date for registration 25th May.

CPT Mock Test for June, 2011 Exam Day & Date : Sunday 5th June, 2011 Time : Morning session – 10.30 am to 12.30 pm Afternoon session – 02.00 pm to 04.00 pm Fees : Rs.200/- by cash / Cheque Mode of Mock Test : OMR answer Sheet Last Day for Registration : 25th May, 2011 (upto 05:00pm ) Registration Centres : 1. WIRC Office, ICAI Bhawan, Cuffe Parade, Mumbai 2. WIRC -DADAR Library 3. WIRC – Andheri RVG Hostel 4. WIRC – Mulund Library Date of Result : 11th June, 2011 (will be hosted at WIRC website) Chief Co-ordinators : CA Neel Majithia 9820327660 CA Mangesh Kinare 9869070539 For Registration and information contact 022-3980 2923/22 Cheques should be drawn on in favour of “WIRC OF ICAI” payable at Mumbai. Note: Forms will be available on WIRC Website and should be submitted by 25th May, 2011. Hard Copy of Registration forms will also be available at the above centres. Download Registration Form:click here:https://docs.google.com/viewer?a=v&pid=explorer&chrome=true&srcid=0Bz0INWeiJAEQZDc1ZWM4OWMtNWI2NC00Zjc0LTlhZmUtNThiYTIxYmY4YWQw&hl=en_US

NEW DIRECTOR'S RELATIVE (OFFICE OR PLACE OF PROFIT) RULES, 2011

Director's Relative (Office or Place of Profit) Rules, 2011

NOTIFICATION NO. G.S.R. 357(E), DATED 2-5-2011

In exercise of the powers conferred by clause (b) of sub-section (1) of section 642, read with sub-section (1B) of section 314 of the Companies Act, 1956, the Central Government hereby makes the following Rules in supersession of the earlier Notification No. GS.R. 89(E), dated 5-2-2003, namely:—

1. (1) Short Title and Commencement: (1) These rules may be called Director's Relative (Office or Place of Profit) Rules, 2011.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. Applicability : These rules shall apply to all companies registered under the Companies Act, 1956 except as provided in these rules.

3. Approval of the Central Government in case of Appointment of Relatives, etc. of Directors : No appointment for an office, or place of profit in a company shall take effect unless approved by the Central Government on an application, in respect of:—

 (a)  Partner of film or relative of a Director or Manager; or
 (b)  Firm in which such Director, or Manager of relative of either is a partner; or
  (c) Private Company of which such Director or Manager or relative of either is a Director, or member, which carries a monthly remuneration exceeding, Rs. 2,50,000 p.m.
 (d)  An individual who is a relative of a Director, or Manager and is appointed as an Advisor or Consultant and paid remuneration including commission on periodical basis.

Cash Flow v/s Profit & loss A/c

In case of entities like companies which present its financial statements on accrual basis, Cash flow Statements fulfills vital information needs of users?

The Supreme Court in Reliance Energy Ltd Vs. Maharashtra State Road Development Corporation Ltd.

When P&L accounts and balance sheets are prepared on accrual basis, revenues and expenses are recognized on accrual basis

i.e. when events or transaction occurs. However, timing of cash flow is not reckoned in such system of accounting.

Similarly, in cases where accounts are based on accrual system of accounting, recognition of assets & liabilities is not dependent on the actual timing of cash spent on capital Expenditure & Cash inflow on Capital receipts.

Thus, financial statements prepared on accrual basis don not reflect the timing of Cash flow & amount of Cash flow.

The object of the cash flow statement is to assess the company ability to generate the cash flow in future and to assess reason for difference between “NET PROFIT” and “NET CASH FLOW” from operations.

In Fact Cash flow from operations is the regular sources of cash for any enterprise that determines whether or not an enterprise will continue to exist in the long run.

Accrual basis of accounting requires that revenues be recorded when earned and the expenses be recorded when incurred. Earned revenues more often include credit sales that have not been collected in cash & expense incurred that may not have been paid in cash during the accounting period.

Thus, Net Income will not indicate the net cash provided by operating activities or net loss will not indicate the net cash used in operating activities.

 In order to calculate the net cash provided by (or used in) operating activities, it is necessary to replace revenues and expenses on accrual basis with actual receipts and actual payments in cash. This is done by eliminating non- cash revenues and non-cash expenses from the given earned revenues & incurred expenses in the profit & loss account.

Profit & Loss account is also debited with purely non-cash items which reduces and increase the profits respectively but do not affect the cash at all. Eg: Depreciation, P/L on sale of fixed assets, amortization of deferred revenue expenses and so on.

Since Cash provide by operations is to be calculated, certain Non-operation item like rent income, interest income, dividend income, refund of tax etc should be adjusted although these items may have recorded on cash basis. Such items are analysed separately in the cash flow statement as operating, financing & investing activities.


Post uploaded by: Sumeet Mishra.

CA IPCC Group 1 papers with sugested answers.

Frnds,

Just click here to download the IPCC grp1 papers with sugested answers.

Click here: http://docs.google.com/leaf?id=0Bz0INWeiJAEQOTg0NTNlODAtNjg0Zi00NTVkLTkwYTUtMTIwZWQ4NGY2NTI5&hl=en

I am thankful to pavan kumar & Sayad vakeel who have contributed to our blog and this file is shared by them.

Dhaval Desai

Company Audit Important Sections,AS and SA's and revised text of Companies Act 227 (1A)

 Friends,

I know that at the end time i m publishing this article but i believe that this file will surely help you to score well in exams and will help you to score well.

Best wishes
Dhaval Desai & this document is verified by Pappu Mishra.

Click here to download the files
1.Company Audit (Sections,AS and SA.s): http://docs.google.com/fileview?id=0Bz0INWeiJAEQZTFjYzMxN2QtNTAxZi00OTZhLThlZDQtZDk0NjZiNTYzZTdi&hl=en

2.Companies Act 227 (1A): http://docs.google.com/fileview?id=0Bz0INWeiJAEQYjNlMGMzYzAtYjgzMS00OGFhLWE3OGUtN2UzZjcxZmNlNDhm&hl=en


This file is Shared by and his message is given below.

Friends here is some important sections of company audit.You are advised to verify the same from module/compilations.This is exclusively for Taxpertindia members and welwishers. Have a good luck!!!!

Vakeel Ali
Dhule, Maharashtra.

Auditing Standards revised for CA Final/PCC/IPCC & PE-II

Dear Subscriber,

Notes on Standards on Auditing.

Please note "What I had best with me in this regards I am providing the link for download but before using make it sure that these notes are updated as per your exam attempt."

Link-
http://docs.google.com/leaf?id=0Bz0INWeiJAEQYTY1MzI5NGItM2RlMi00MzA5LTljNTAtZmJiMGU1MTM2N2Fh&hl=en



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Notification & Circulars from 01.05.2009 to 31.10.2009

Just click here to download the relevant Notification & Circulars from 01.05.2009 to 31.10.2009

For CA Final (old/new):http://docs.google.com/fileview?id=0Bz0INWeiJAEQYWI1N2VlMzctMjc3Yy00NzBmLThkMTYtY2VmOTUxNzAyMDg3&hl=en


For PCC/IPCC:http://docs.google.com/fileview?id=0Bz0INWeiJAEQMmIxMTI1NjctYzhjMy00MmFlLWE5NzUtYTE1YTI5ZDdiMDI0&hl=en


For PE-II: http://docs.google.com/fileview?id=0Bz0INWeiJAEQMjEwNDhmYjItZTA3OS00ODEyLTg0ZGMtNTExOTZkNzlkN2Ux&hl=en

May'10 Exams:RECENT CHANGES IN STANDARDS ON AUDITING (w.e.f 01.04.2010)

 Friends,
I m sharing with u a very good pdf file with recent changes in standards on auditing.
Hope this file will help u & gain u the conceptual knowledge.

Click here to download
 RECENT CHANGES IN STANDARDS ON AUDITING: http://docs.google.com/leaf?id=0Bz0INWeiJAEQOGRhMWE1OTctMjkzZC00MTc3LTgzZTgtYTFmNDM5YTBmYjVl&hl=en

May'10 exms:Fast track ready reference notes on IDT Amendments & case laws.

Friends,

         Less than one month is left for your May'10 exams and many things may be left to be revised.
So to help u, a fast track ready reference notes of IDT amendments (4 pages) and IDT case laws (16 pages) is shared with u for your ready reference.

Clik here to download:
IDT AMENDMENTS: http://docs.google.com/leaf?id=0Bz0INWeiJAEQNzUxYTY4ZWMtOTk0MS00MjYwLWJlZWYtMGNlNTEwN2E4MDUy&hl=en

IDT CASELAWS: http://docs.google.com/leaf?id=0Bz0INWeiJAEQODQ5NjEwOTctNGIxZi00ZDBiLTliY2ItN2VkZjliNGY5OTMy&hl=en

Final NEW Suggested Answers November 2009- ISSUED BY ICAI

Hello,
I would like to bring your attention on a new post published on the Website. Details of the post follow; I hope you will find it interesting.
Best regards,
 Dhaval

Final NEW Suggested Answers November 2009- ISSUED BY ICAI
GROUP - I Not Yet Released. 

Group - II Click here to download: http://www.box.net/shared/rfufppujov

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PCC Suggested Answers November 2009 - ISSUED BY ICAI

Hello,
I would like to bring your attention on a new post published on the Website. Details of the post follow; I hope you will find it interesting.
Best regards,

PCC Suggested Answers November 2009 - ISSUED BY ICAI

Group - I -- Not Yet Released Group --- wud soon upload

Group II- Click here to download: http://www.box.net/shared/sq7lnff203

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Compilation of Suggested Answers Professional Competence Course( PCC) Cost Accounting

•    CHAPTER 1 - BASIC CONCEPTS

CHAPTER 2 - MATERIAL

CHAPTER 3 - LABOUR

CHAPTER 4 - OVERHEADS

CHAPTER 5 - NON INTEGRATED ACCOUNTING

CHAPTER 6 - METHOD OF COSTING (I)

CHAPTER 7 - METHOD OF COSTING (II)

CHAPTER 8 - STANDARD COSTING

CHAPTER 9 - MARGINAL COSTING

CHAPTER 10 - BUDGETS AND BUDGETARY CONTROL 

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Revision Test Papers for MAY 2010 Examination

• Professional Education (Course - II)
  
  
• Professional Competence Course
  
  
• Integrated Professional Competence Course (IPCC) 
•    
• Accounting Technician Course (ATC)
  
  
• Revision Test Papers - Final Course (Earlier Scheme)
  
  
• Revision Test Papers - Final (New Course)
  

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Enclosed 4 CA Final-MAY 2010 Exams---Competition (Amendment) Act, 2009,Prevention of Money Laundering (Amendment) Act, 2009

Friends

Enclosed herewith the link to download The Competition (Amendment) Act, 2009 and Prevention of Money Laundering (Amendment) Act, 2009 Which would b applicable for May 2010 Exams.-- ICAI

Just click here: http://www.box.net/shared/c745hqpfd1




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Enclosed 4 PCC/IPCC-MAY 2010 Exams---The Payment for Gratuity (Amendment) Act, 2009

Friends

Enclosed herewith the link to download The Payment for Gratuity (Amendment) Act, 2009 Which would b applicable for May 2010 Exams.-- ICAI

Just click here: http://www.box.net/shared/7q45qga8ju




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Announcement relating to taxation papers for students appearing in May 2010 examination PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation], Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws] - (22-02-2010)

Announcement relating to taxation papers for students appearing in May 2010 examination PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation], Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws] - (22-02-2010)

---

Announcement relating to taxation papers for students appearing in May 2010 examination  

  PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation],

Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws]

(1)   Fringe Benefit Tax is not applicable from A.Y.2010-11 and hence, is not relevant for May 2010 examination. 

(2)   Consequential Notification of new perquisite rules on 18.12.2009 not to apply for May 2010 examination

Consequent to abolition of fringe benefit tax, certain benefits taxed earlier as fringe benefits in the hands of the employer would now be taxable as perquisites in the hands of the employees.  For this purpose, new perquisite valuation rules have been notified vide Notification No.94/2009/ F.No.142/25/2009-S.O.(TPL), dated 18.12.2009 with retrospective effect from 1.4.2009.  However, the new perquisite valuation rules would be applicable only for November 2010 examination.  They would not be applicable for May 2010 examination, since only notifications/circulars issued up to 31^st October, 2009 are relevant for May 2010 examination.

(3)   Applicability of erstwhile Rule 3 for May 2010 examination 

(a)   Therefore, the erstwhile Rule 3 would be applicable for May 2010 examination. All the perquisites which were earlier taxable in the hands of the employee, only if the employer was not liable to pay fringe benefit tax, would now be taxable in the hands of the employee in all cases, since no employer is liable to pay fringe benefit tax for A.Y.2010-11. 

(b)   Rule 3(7), providing for valuation of “other fringe benefits and amenities”, is based on the terms of the provisions contained in the erstwhile clause (vi) of section 17(2).  The Finance (No.2) Act, 2009 has amended section 17(2) by including certain other perquisites under clauses (vi) and (vii) of section 17(2). Consequently, the residual clause, namely, clause (viii) of section 17(2), now provides for taxing the value of any other fringe benefit or amenity as may be prescribed.  Therefore, the Rule 3(7), prescribing the fringe benefits or amenities in terms of the erstwhile clause (vi) [now clause (viii)] of section 17(2)] have been given in the latest study material relevant for May 2010 examination.

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ISCA NOTES & Information Technology ACT 2008 (2 FIles uploaded)

Friends.. There might be a sure shot question in the forthcoming exam…

The Information Technology Act 2000 is covered under Chapter 14 of Paper 6: MICS ( Final Old ) and Chapter 10 of Paper 6: Information Systems

This act was amended in the Year 2009. And keeping in mind the institute’s eternal inclination towards all the recent amendments I would say that we all should go through amendments made in the Act (since the changes are of significant importance too!).

and i am also hereby uploading ISCA (CA FInal NEW)notes with past papers analysis which are prepared by Nikunj S. Shah B.Com., LL.B., FCA, DISA(ICA), CIA(USA), ACFE --- which would sure shot help u to score well marks.




Or click here to download: http://www.box.net/shared/qfbgsa7vyf




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CA Results Analysis

RESULT ANALYSIS OF CHARTERED ACCOUNTANTS PROFESSIONAL EDUCATION ( EXAMINATION-II) , PROFESSIONAL COMPETENCE AND INTEGRATED PROFESSIONAL COMPETENCE EXAMINATIONS HELD IN NOVEMBER-2009

P R E S S R E L E A S E

The results of the Chartered Accountants Professional Education Examination-II (PEE-II) ,Professional Competence(PCE) and Integrated Professional Competence Examinations(IPCE) were declared recently.          The details of percentage of candidates passed in the above said examinations are given below: EXAMINATION GROUP No.of candidates appeared No.of candidates passed % of pass PEE-II Both Group 3407 43 1.26 Group – I 7025 682 9.71 Group - II 9191 525 5.71 EXAMINATION GROUP No.of candidates appeared No.of candidates passed % of pass PCE Both Group 37661 5810 15.42 Group – I 46955 12053 25.66 Group - II 58180 15275 26.25