Non-Applicability of Ind ASs for November, 2012 examination

Indian Accounting Standards converged with the IFRS (Known as Ind AS)

The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards shall be applied for all companies falling under Phase I to Phase III as prescribed under the roadmap issued by the core group. These Ind ASs are not

applicable for the students appearing in November, 2012 Examination for both CA IPCC and CA Final Students.

However existing Accounting Standards are applicable for the students appearing in November, 2012 Examination

For More Information : ICAI Pronouncements, Other Notifications Relating to November 2012 Examinations