CA Intermediate(IPCC) GroupI (Classes in Laxmi Nagar, Delhi)- Paper 1 – Accounting

CA Intermediate (IPCC) Group-I Paper-01
Accounting Company Accounts Accounting for
Special Transactions Process of
formulation of
Accounting
Standards Dissolution of
partnership firms 01 02 03 04

IPCC GroupI - Paper 1

What is the correct answer for 24 + 16

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Paper Details
Paper Title Faculty Name No. of Classes
CA Intermediate(IPCC) GroupI – Paper 1 Faculty Name 20 Classes
Intermediate Course Paper 1: Accounting (100 Marks)
Sections Weightage Content Area
I 20%-25% 1. Process of formulation of Accounting Standards including Ind AS (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.
    2. Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
    3. Application of Accounting Standards:
    AS 1 : Disclosure of Accounting Policies
    AS 2 : Valuation of Inventories
    AS 3 : Cash Flow Statements
    AS 4 : Contingencies and Events occurring after the Balance Sheet Date
    AS 5 : Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies
    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
    AS 17: Segment Reporting
    AS 22: Accounting for Taxes on Income
II 25% -30% 4. Company Accounts:
    (i) Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;
    (ii) Managerial Remuneration;
    (iii) Accounting for tax: Concept of deferred tax asset and deferred tax liability in line with AS 22 “Accounting for Taxes”;
    (iv)Profit (Loss) prior to incorporation;
    (v) Accounting for bonus issue and right issue;
    (vi)Redemption of preference shares;
    (vii) Redemption of debentures.
III 30% -35% 5. Accounting for Special Transactions:
    (i) Investment;
    (ii) Insurance claims for loss of stock and loss of profit;
    (iii) Hire – purchase and Instalment Sale Transactions.
    6. Special Type of Accounting:
    (i) Departmental Accounting;
    (ii) Accounting for Branches including foreign branches;
    (iii) Accounts from Incomplete Records.
IV 15%-20% 7. Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.