annexure no.2 . non ic batch - ca final revision exams ...mastermindsindia.com/ca final revision...

ANNEXURE NO.2 …. NON IC BATCH - CA FINAL REVISION EXAMS SCHEDULE No. 2 (FOR MAY 2016 EXAMS OF CA FINAL)

2ND VERSION OF THIS DOCUMENT FINALISED & RELEASED ON 11TH NOVEMBER 2015 …….. 1/12

1. FOR THIS SCHEDULE, STUDY HOURS WILL COMMENCE FROM 18TH NOVEMBER AND FIRST EXAM WILL BE CONDUCTED ON NOVEMBER 22ND.

2. DON’T FORGET TO COLLECT THE DOCUMENT “ANNEXURE NO. 5 - AREAS TO BE PREPARED & OTHER DETAILS DOCUMENT NO.2”, CORRESPONDING TO THIS REVISION EXAMS SCHEDULE.

3. The Chapters indicated here are as per the index given in ICAI Study Material. This is done for the convenience of all the students.

4. TIMINGS:

GROUP 1 EXAM (ON EVERY WEDNESDAY): 2.30 PM TO 7.00 PM GROUP 2 EXAM (ON EVERY SUNDAY): 8.00 AM TO 12.30 PM

ALTERNATIVE 1: 2.30 PM TO 7.00 PM

1st exam - FR + SFM for 100 marks @ 3 hours (15 minutes of additional time will be given for reading the question paper)

30 minutes break in between the two exams.

2nd exam – Auditing for 30 marks @ 1 hour (No additional time for reading the question paper)

ALTERNATIVE 2: 2.30 PM TO 6.30 PM

1st exam - FR / SFM + Corporate & Allied Laws for 80 marks @ 2.5 hours (15 minutes of additional time will be given for reading the question paper)


2nd exam – Auditing for 30 marks @ 1 hour (No additional time for reading the question paper)

1st exam – AMA / IDT + DT for 100 marks @ 3 hours (15 minutes of additional time will be given for reading the question paper)


2nd exam – ISCA for 30 marks @ 1 hour (No additional time for reading the question paper)

5. UNLESS OTHERWISE STATED, SYLLABUS OF EACH EXAM INCLUDES CORRESPONDING THEORY QUESTIONS ALSO.

6. For each Chapter specified in the revision exams schedule, students shall prepare all the sources as stated in the AREAS TO BE PREPARED DOCUMENT. But in case of few Voluminous chapters, we may spread each chapter across multiple revision exams in any of the following ways:

a) In one revision exam, we may cover some sources of the chapter and in another revision exam we will cover some other sources of the same chapter.

b) Alternatively, in one revision exam we will cover FEW MODELS or TOPICS from all the sources and in another revision exam we will cover FEW MORE MODELS or TOPICS from all the sources as stated in the AREAS TO BE PREPARED DOCUMENT.

c) Students are advised to be more attentive while preparing those chapters.



GROUP 1 SCHEDULE

NO DATE PAPER 1: FINANCIAL REPORTING

50 MARKS (1 ½ HRS.)

PAPER 2: STRATEGIC FINANCIAL MANAGEMENT


PAPER 3: ADVANCED AUDITING

30 MARKS (1 HR.)

PAPER4: CORPORATE & ALLIED LAWS

30 MARKS (1 HR.)

2. Nov 25

(Wed, 3 exams)

Value Added Statement, Economic Value Added, MVA, Shareholders’ Value Added,

Human Resource Reporting.

Financial Policy and Corporate Strategy, Financial Services In India

Audit of Consolidated Financial Statements, Audit of Co-Operative

Societies, Audit of Banks -

4. Dec 02

(Wed, 3 exams)

Concept of Valuation, Valuation of Tangible Fixed Assets,

Valuation of Intangibles -

SA – 200,210, 220, 230, 240, 250,260, 265, 299

Producer Company, Co. Incorporated outside India, Declaration and payment of

dividend

6. Dec 09

(Wed, 3 exams)

Valuation of Liabilities, Valuation of Shares

Valuation of Business

Mutual Funds, Security Analysis (Including Theory in the corresponding syllabus)

Professional Ethics – part I (Introduction of Chartered

Accountants Act, Schedule - I) -

8. Dec 16

(Wed, 3 exams)

Consolidation - Part I (Unit – I + in Unit - II following topics) All the adjustments for consolidation, Preparation of consolidated

balance sheet, Preparation of consolidated profit and loss account, Preparation of cash flow statement, Acquisition of interest in subsidiary

at different dates,

[In other words, SM : Illustration 1 to 13 ; PM: question no 1 to 7]

- Professional Ethics – part II

(Schedule - II)

Compromises, Arrangements and amalgamations,

Prevention of Oppression and mismanagement

10. Dec 23

(Wed, 3 exams) -

Project Planning and Capital Budgeting – part I Concepts related to : P No – 1, 2, 4,5,9,13 to 19 in SM &

Problem No - 12 to 15, 24, 25, 34, 36 to 42 in PM + Exercise problems of 3, 4, 5 in PM + Related Theory content for the

above problems from all the sources

Audit of General Insurance Companies,

SA – 300,320,450 SA – 800,805, 810

Appointment & Qualification of Director

12. Dec 30

(Wed, 3 exams)

Consolidation – PART II (Remaining topics in Unit-II) Treatment of subsidiary company having preference share capital,

Inter-company holdings, Different reporting dates, Uniform accounting policies, Investment in debentures of the subsidiary company,

Miscellaneous illustrations, Problems involving more than one foreign

Dividend Decisions, Leasing Decisions

Banking Regulation Act,

Insurance Act, IRDA Act, PML Act



subsidiary (chain holding), disposal of subsidiary, foreign subsidiaries. [In other words, SM : Illustration 14 to 27, Illustration 14 in page 5.43,

15 in page no.5.60 + PM: Question No 8 to 17]

14. Jan 06

(Wed, 3 exams)

Consolidation – III (unit III and unit IV) Treatment of Investment in Associates in Consolidated Financial Statements , Treatment of Investment in joint

venture in Consolidated Financial Statements

In other words, Study material: Illustration – 1 in page 5.105, Illustration 26 in page 5.115, Practice Manual : 18 to

22 problems and 1 to 5 Exercise Problems + All uncovered problems in the chapter of Consolidation in

all other sources i.e. M.P.V, RTP’s, MTP’s

NOTE: ENTIRE CONSOLIDATION CHAPTER IN ALL THE SOURCES WILL BE COVERED IN THIS EXAM.

Project Planning and Capital Budgeting – part II

Concepts related to Problem No – 3,6,7,8,10,11,12 in SM & Problem No – 16 to 23, 26 to 33,35 in PM

+ Exercise problems of 1,2,6,7,8,9 in P.M + Related theory for above topics from all the sources

The Company Audit SA – 600, 610,620

-

16. Jan 13

(Wed, 3 exams) -

Portfolio Theory (Only From Study Material & Practice Manual)

Peer Review, Risk Assessment &

Internal Control ,SA – 315,330 Appointment & Remuneration

of Managerial personnel

SEMI FINAL EXAMS (17.01.16 to 27.01.16)

18. Feb 03

(Wed, 3 exams)

Accounting for corporate restructuring – PART I Amalgamation/ Absorption, Intrinsic value, Cross Holding etc., Covering

amalgamation only

[In other words, SM : Illustrations 5 to 14; PM: Question 5 to 28]

Special Audit Assignments,

Cost Audit, Audit of PSU

SCRA, SARFESI

20.

Feb 10

(Wed, 3

exams)

Accounting for corporate restructuring – PART II Demerger, Buyback of shares, Internal reconstruction

[In other words, SM : illustration 1 to 4; PM: question no 1 to 4, question no 29 all the excise problems. And Complete chapter in RTPs, MTPs & MPV]

NOTE: ENTIRE CHAPTER OF ‘ACCOUNTING FOR CORPORATE RESTRUCTURING’ IN ALL SOURCES WILL BE COVERED IN THIS EXAM

- SA - 500, 501, 505, 510, 520, 530, 540, 550, 560, 570, 580

Winding up



22. Feb 17

(Wed, 3 exams) Accounting Standards Set : A

GN : A

Portfolio Theory (From all sources including SM, PM, Pattabhiram

sir text book, RTPs, MTPs)

Audit under Fiscal laws, SRS – 4400, 4410,

SAE – 3400, 3402 ,SA - 402

24. Feb 24

(Wed, 3 exams) - Indian Capital Market

Audit Report, CARO, SA – 700, 705,706, 710, 720

Accounts and Audit, Inspection inquiry &

Investigation

26. Mar 02

(Wed, 3 exams) Accounting standards Set : B

GN : C, E,F,L

For the following two chapters read from SM & PM : FDI,FIIS and International Financial Mgt, Money Market

operations + Practice manual Theory : Foreign Exchange Exposure

and Risk Management - PART I

Audit Committee & Corporate Governance,

SOX Act, SA – 400 SRE – 2400, 2410

-

28. Mar 09

(Wed, 3 exams) Accounting standards Set : C - Guidance Notes Meeting of Board & its Powers

30. Mar 16

(Wed, 3 exams) Accounting standards Set : D

GN : N Foreign Exchange Exposure and Risk

Management – PART II(SM&PM) -

Competition Act, SEBI - unit I and unit II

32. Mar 23

(Wed, 3 exams)

Accounting and reporting of Financial Instruments,

Accounting standards Set : E

Foreign Exchange Exposure and Risk Management – PART III

From all other sources prescribed i.e., Pattabhi Ram sir, RTP’s, MTP’s

-

Offences & Penalties, Special Courts, National Company Law Tribunal And Appellate Tribunal, E- Governance,

miscellaneous provisions.

34. Mar 30

(Wed, 3 exams)

Financial Reporting for Financial Institutions, Accounting standards Set : F

GN : M,I -

Audit under Computerised Information System (CIS)

Environment, Liabilities of Auditor

FEMA, Interpretation Statutes, deeds and documents.

36. Apr 06

(Wed, 3 exams) Accounting standards Set : G

GN : K Mergers, Acquisitions & Restructuring

Internal Audit, Management and Operational Audit, Investigation & Due diligence

-



GROUP 2 SCHEDULE

No. DATE PAPER 5: AMA

50 MARKS (1 ½ HRS.) PAPER 6: ISCA

30 MARKS (1 HR.) PAPER 7: DIRECT TAXES

50 MARKS (1 ½ HRS.) PAPER 8: INDIRECT TAX


1. Nov 22

(Sun, 3 exams)

Costing of Service Sector, Development in business environment (JIT, MRP,

TOC).

Information System Concepts (1 to 25 questions as per MM Material)

Basics concepts, Residence and scope of total income, Income from salaries

-

3. Nov 29

(Sun, 3 exams) -

Information System Concepts (26 to 50 questions as per MM Material)

Income from House Property, Income which do not form part of total income - Part I (only

Sec.10 Series)

Central Excise Chapter : 1,2,3,5,11,17

5. Dec 06

(Sun, 3 exams) Assignment,

Transportation Acquisition & Development of System (1 to 20 questions as per MM Material)

PGBP – PART I : Section 28 to section 40 (including section 40A series)

-

7. Dec 13

(Sun, 3 exams) -

Acquisition & Development of System (21 to 42 questions as per MM Material)

PGBP – PART II : Complete Head Of PGBP (Including the sections covered in part I)

Central Excise Ch : 6,7,8,9,10,12,13,15,18

9. Dec 20

(Sun, 3 exams) Pricing Decisions,

Learning Curve Acquisition & Development of System

(43 to 67 questions as per MM Material)

Income from Other Sources, Set-off & Carry forward losses, Income of other persons

included in Assessee’s total income -

11. Dec 27

(Sun, 3 exams) -

BCP & DRP (1 to 18 questions as per MM Material)

Capital Gains, Business Restructuring Central Excise

Chapter :4,14,16

13. Jan 03

(Sun, 3 exams) Budgetary Control, Linear Programing.

BCP & DRP (19 to 37 questions as per MM Material)

Chapter VI A Deductions from Gross Total Income

-

15. Jan 10

(Sun, 3 exams) - Emerging Technologies

Double Taxation Relief, Transfer Pricing and other provisions to check avoidance of tax.

Service Tax Chapter : 2,3,4

SEMI FINAL EXAMS (17.01.16 to 27.01.16)

17. Jan 31

(Sun, 3 exams) Transfer Pricing, Uniform Costing & Inter

firm Comparison Protection of Information System

(1 to 20 questions as per MM Material)

Assessment of various entities part - I (Assessment of Non Residents &

Companies) -

19. Feb 7

(Sun, 3 exams) -

Protection of Information System (21 to 40 questions as per MM Material)

Income Tax Authorities (Including Search & Seizure)

Service Tax Chapter : 1,5



21. Feb 14

(Sun, 3 exams)

Marginal Costing – PART I Concepts related to Problems in SM 1 to 24 +

Problems in PM :1 to 20 & 65 to 79 + its related theory

Protection of Information System (41 to 60 questions as per MM Material)

Assessment Procedures -

23. Feb 21

(Sun, 3 exams)

Marginal Costing – PART II Concepts related to : 25 to 44 Problems in SM +

21 to 64 Problems in PM + its related theory -

Appeals & Revisions, Settlement of tax cases, Advance Rulings

Service Tax Chapter :6,7,8

25. Feb 28

(Sun, 3 exams) Network Analysis, Simulation

Audit of Information System (From page 6.1 to 6.22 in SM)

Assessment of various Entities – Part II (assessment of Individuals, Firm/LLP ,

HUF,AOP, BOI, Other entities) Income which do not form part of Total Income -

Part II (Assessment of Trust, Political contributions)

-

27. Mar 06

(Sun, 3 exams) -

Audit of Information System (From 6.23 to 6.33 in SM)

Collection & recovery of tax (including Advance Tax Provisions)

Customs Chapters: 1,2,3,4,5,6,7,8,11

29. Mar 13

(Sun, 3 exams)

Standard Costing – 1 Concepts related to: 1 to 16 Problems in

Study Material + 1 to 23 Problems in Practice Manual + Its related theory

Concept Governance & Management Information System

(Upto Page 1.25 in SM) Penalties, Offences & Prosecution -

31. Mar 20

(Sun, 3 exams) -

Concept Governance & Management Information System

(From 1.26 to 1.43 in SM)

Inter – relationship between Accounting & taxation, Foreign Collaboration, Taxation of E – Commerce

transactions, Miscellaneous provisions, Tax Planning and ethics in taxation

Customs Chapters :

9,10,12,13,14,15,16

33. Mar 27

(Sun, 3 exams)

Standard Costing - II Concepts related : 17 to 26 Problems in Study Material

+ 24 to 42 Problems in Practice Manual + its related theory also

Information Technology Regulatory Issues

(From 7.1 to 7.22 in SM)

Complete Indirect Taxes amendments, and common topics in central excise, service tax and customs + Applicable

case laws for relevant exam

35. Apr 03

(Sun, 3 exams)

Development in business environment (ABC costing, TQM, Life cycle costing, Target

Costing, Value chain analysis), Profitability analysis-Product/segment/customer wise.

Information Technology Regulatory Issues

(From 7.23 to 7.48 In SM)

Complete Direct Tax Amendments including applicable case laws for relevant exam.



SOME OTHER IMPORTANT POINTS

1. If you have any doubts with respect to Revision Exams then you can contact Mr.Sudhakar sir

- At KP Babu campus, Guntur between 10 am to 1 pm and 4 pm to 7 pm (or)

- You can call him @ 92484 456 14 (Only between 10 am to 1 pm and 4 pm to 7 pm)

2. IN THE ABOVE REVISION EXAMS SCHEDULE THE REFERENCE OF GUIDANCE NOTES IS GIVEN AS A,B,C,D....THE LIST IS AS FOLLOWS:

A. Accrual Basis of Accounting

B. Accounting for Corporate Dividend Tax

C. Treatment for Reserves created on Revaluation of Fixed Assets

D. Availability of Revaluation Reserve for Issue of Bonus Shares

E. Accounting Treatment for Excise Duty

F. Accounting Treatment for MODVAT / CENVAT

G. Accounting for Department in Companies

H. Accounting for Credit Available in respect of Minimum Alternate Tax under the Income tax Act, 1961.

I. Measurement of Income Tax for Interim Financial Reporting in the context of AS 25.

J. Accounting for Employee Share – based Payments

K. Applicability of Accounting Standard (AS) 20, Earnings Per Share

L. Remuneration paid to key management personnel – whether a related party transaction

M. Applicability of AS 25 to Interim Financial Results

N. Guidance note on Turnover in case of Contractors.

3. IN THE ABOVE REVISION EXAMS SCHEDULE THE REFERENCE OF STANDARDS ARE GIVEN AS SET A, SET B, SET C, SET D, ETC.... THE DETAILS OF WHICH ARE GIVEN BELOW: Students shall prepare AS, Guidance Notes, Indian Accounting Standards (IND AS); Comparative study of Existing ASs vis-a-vis IND ASs; Carve outs/ins in IND ASs vis-a-vis International Financial Reporting Standards.

SET IND AS

IFRS TITLE OF IND AS / IFRS AS / GN AS / GN TITLE

SET - A

1 1 Presentation of Financial Statements 1 Disclosure of Accounting Policies

2 2 Inventories 2 Valuation of Inventories

7 7 Statement of Cash Flows 3 Cash Flow Statements

10 10 Events after the Reporting Period 4 Contingencies and Events Occurring After the Balance Sheet

8 8 Accounting Policies, Changes in Accounting Estimates and Errors

5 Net Profit or Loss for the Period, Prior period Items and Changes in Accounting Policies

40 40 Investment Property 13 Accounting for Investments

37 37 Provisions, Contingent Liabilities and Contingent Assets

29 Provisions, Contingent Liabilities and Contingent Assets

SET - B

113 13 Fair Value Measurement - -

16 16 Property, Plant and Equipment 6 10

Depreciation Accounting, Accounting for Fixed Assets

20 20 Accounting for Government Grants and Disclosure of Government Assistance

12 Accounting for Government Grants

23 23 Borrowing Costs 16 Borrowing Costs

24 24 Related Party Disclosures 18 Related Party Disclosures

38 38 Intangible Assets 26 Intangible Assets

36 36 Impairment of Assets 28 Impairment of Assets



SET - C

110 10 Consolidated Financial Statements 21 Consolidated Financial Statements

27 27 Separate Financial Statements - -

28 28 Investment in Associates and Joint Ventures

23 Accounting for Investment in Associates in Consolidated Financial Statements

111 11 Joint Arrangements 27 Financial Reporting of Interests in Joint Ventures

108 8 Operating Segments 17 Segment Reporting

SET - D

115 15 Revenue from Contracts with Customers

7, 9 Construction Contracts / Revenue Recognition

17 17 Leases 19 Leases

19 19 Employee Benefits 15 Employee Benefits

SET - E

109 9 Financial Instruments 30 Financial Instruments: Recognition and Measurement

32 32 Financial Instruments: Presentation 31 Financial Instruments: Presentation

107 7 Financial Instruments: Disclosures 32 Financial Instruments: Disclosures

SET - F

103 3 Business Combinations 14 Accounting for Amalgamations

105 5 Non-current Assets Held for Sale and Discontinued Operations

24 Discontinuing Operations

34 34 Interim Financial Reporting 25 Interim Financial Reporting

SET - G

21 21 The Effects of Changes in Foreign Exchange Rates

11 The Effects of Changes in Foreign Exchange Rates

12 12 Income Taxes 22 Accounting for Taxes on Income

33 33 Earnings per Share 20 Earnings per Share

102 2 Share Based Payment Guidance

Note J Guidance Note on Accounting for Employee Share-based Payments

FOLLOWING IND ASs ARE NEWLY ISSUED WHICH ARE NO WAY LINKED WITH THE EXISTING ACCOUNTING STANDARDS OR GUIDANCE NOTES. WE ARE NOT GOING TO COVER THEM IN OUR REVISION EXAMS OR SEMI

FINAL OR PRE FINAL EXAMS. IF ICAI GIVES ANY CLARITY WITH RESPECT TO THE APPLICABILITY OF IND AS FOR MAY 2016 EXAMINATIONS THEN WE MAY INCLUDE THEM IN OUR REVISION EXAMS AND WILL BE COMMUNICATED

TO THE STUDENTS.

1. 101 1 First Time Adoption of Indian Accounting Standards

- -

2. 104 4 Insurance Contracts - -

3. 106 6 Exploration for and Evaluation of Mineral Resources

Guidance Note

Guidance Note on Accounting for Oil and Gas Producing Activities

4. 112 12 Disclosure of Interests in Other Entities - -

6. 114 14 Regulatory Deferral Accounts Guidance

Note Accounting for Rate Regulated Activities

7. 29 29 Financial Reporting in Hyperinflationary Economies

- -

8. 41 41 Agriculture - -

4. DATES OF SEMI FINAL EXAMINATIONS: (2.00 P.M. TO 5.00 P.M.)

No Subject Date No Subject Date

1 F.R 17.01.16 5 Cost & O.R 23.01.16

2 S.F.M 18.01.16 6 ISCA 24.01.16

3 Auditing 20.01.16 7 D.T 26.01.16

4 Law 21.01.16 8 I.D.T 27.01.16



5. DATES OF PRE-FINAL EXAMINATIONS (2.00 P.M. TO 5.00 P.M.)

No Subject Date No Subject Date

1 AMA 09.04.16 6 ISCA 19.04.16

2 DT - Part I 11.04.16 7 law 21.04.16

3 DT - Part II 13.04.16 8 Auditing 23.04.16

4 IDT - Part I 15.04.16 9 SFM 25.04.16

5 IDT - Part II 17.04.16 10 F.R 27.04.16

6. IN SOME SUBJECTS PRE-FINAL EXAMS ARE DIVIDED INTO 2 PARTS, THE DETAILS OF WHICH ARE AS FOLLOWS:

SUBJECT SYLLABUS FOR PART-I EXAMS (WILL COVER IMPORTANT TOPICS)

DT PGBP, Capital Gains, Assessment Procedures, Assessment of Companies , Assessment of non-residents

IDT Service Tax

PART - II EXAM WILL BE CONDUCTED IN THE COMPLETE SYLLABUS.

7. FOLLOWING TOPICS ARE ELIMINATED FROM THE SCHEDULE: Because of insufficient time, we have eliminated some chapters which have less or no weightage in the final exam. Students are advised to prepare them on their own.

PAPER 1 FINANCIAL REPORTING Guidance notes : B,D,G,H

PAPER 3 AUDITING AND PROFESSIONAL ETHICS Special audit techniques

Liabilities of auditors

Audit of NBFC

PAPER 4 CORPORATE AND ALLIED LAWS Corporate secretarial practice – drafting of resolution, minutes, notices and reports.

8. MAPPING OF SYLLABUS FROM INSTITUTE SOURCES TO PRESCRIBED AUTHOR TEXT BOOKS (APPLICABLE AUTHOR TEXT BOOKS ARE SPECIFIED IN AREAS TO BE PREPARED DOCUMENT):

The below mapping is purely on Index to index mapping, students shall help themselves to figure out relevant ICAI source topics related to specific chapters in the respective author books.

An attempt has been made to trace the ‘Topics under ICAI materials’ against ‘Chapter’ of prescribed author book.

We tried our level best to give the best mapping of chapters.

In some cases same chapter name is repeated more than once with respect to Vinod Gupta material due to difference in study material indexed content and the content given in Vinod Gupta sir book.

MAPPING FOR THE SUBJECT OF DIRECT TAXES

EXAM NO.

TOPICS IN ICAI STUDY MATERIAL SAME TOPICS CAN BE TRACED IN THE

FOLLOWING CHAPTERS IN VINOD GUPTA SIR TEXT BOOK

1

Chapter 1. Basic concepts Vinod Gupta book did not cover these basic IPCC chapters, so refer ICAI books. Chapter 2. Residence and scope of total Income

Chapter 4. Income from salaries Chapter 42

3

Chapter 5. Income from house property Vinod Gupta book did not cover these basic IPCC chapters, so refer ICAI books.

Chapter 3.Income which do not form part of Total Income – Part – I (Only Sec.10 series)

Chapter 17, 34, 35, 36, 39 & 40

5 Chapter 6, PGBP- Part I : Sec 28 to Sect 40 (Including Section 40A series)

Chapter 3

7 Chapter 6, PGBP- Part II, Complete head of PGBP Chapter 3, 7, 15,



9

Chapter 8. Income from other sources Chapter 2, 27, 28, 34, 37, 38

Chapter 10. Set off and carry forward of losses Chapter 5, 6, 26

Chapter 9. Income of other persons included in Assesses Total Income

Chapter 4

11 Chapter 7. Capital Gains Chapter 1

Chapter 18. Business Restricting Chapter 1

13 Chapter 11. Deductions from Gross Total Income Chapter 12, 24, 36

15

Chapter 15. Double Taxation Relief Chapter 31

Chapter 16. Transfer pricing and other provisions to check avoidance of Tax

Chapter 51, 52

17 Chapter 13. Assessment of Various Entities Part-I (Assessment of Non Resident & Companies)

Chapter 8, 16, 18, 19, 30, 33, 34, 35, 40, 56

19 Chapter 20. Income Tax Authorities (including search & seizure) Chapter 43, 44

21 Chapter 21. Assessment Procedures Chapter 41, 53

23

Chapter 24. Appeals and Revision Chapter 46, 47

Chapter 22. Settlement of Cases Chapter 50

Chapter 23. Advance Rulings Chapter 32

25

Chapter 13. Assessment of Various entities (Part-II) Individuals , FIRM / LLP, HUF, AOP/ BOI etc

Chapter 11, 12, 13, 20, 21, 22, 23,

Chapter 3. Income which do not form part of Total Income Part –II (Assessment of trust , political contributions)

Chapter 9, 10, 14, 25, 40, 56

27 Chapter 28. Collection & Recovery of Tax (Including Advance Tax Provisions)

Chapter 29, 48, 49, 54

29 Chapter 25. Penalties Chapter 26. Offences & Prosecution

Chapter 45, 55

31

Chapter 12. Inter relationship between Accounting & Taxation Chapter 14. Tax Planning and ethics in Taxation Chapter 19. Taxation of E-Commerce Transactions Chapter 27. Miscellaneous Provisions Chapter 17. Foreign Collaboration

Chapter 57 Vinod Gupta book did not cover these chapters, so refer ICAI books.

35 Complete Direct Tax Amendments including applicable case laws for relevant exam (Supplementary Book for FA 2015 released by ICAI)

MAPPING FOR THE SUBJECT OF INDIRECT TAXES

EXAM NO.

TOPICS IN ICAI STUDY MATERIAL SAME TOPICS CAN BE TRACED IN THE FOLLOWING CHAPTERS IN BHANGAR

SIR TEXT BOOK

3.

CENTRAL EXCISE:

Chapter 1: Basic Concepts Chapter 1 Basic Concepts

Chapter 2: Classification of Excisable Goods Chapter 2 Classification

Chapter 3: Valuation of Excisable Goods Chapter 3 Valuation

Chapter 5. General procedures under CE Chapter 5 General Procedures

Chapter 11: Remission of duty and Destruction of Goods Chapter 5 General Procedures

Chapter 17: Excise Audit Chapter 5 General Procedures

7 CENTRAL EXCISE:

Chapter 6. Export procedure, Chapter 6 Export, Warehousing & SSI



Chapter 7 - Bonds, Chapter 6 Export, Warehousing & SSI

Chapter 8 - Demand, Adjudication & Offences 24th chapter of Bangar

Chapter 9 – Refund 24th chapter of Bangar

Chapter 10 - Appeals 25 To 27 chapters of Bangar

Chapter 12 - Warehousing Chapter 6 Export, Warehousing & SSI

Chapter 13 - Exemption Based on Value of Clearance (SSI) Chapter 6 Export, Warehousing & SSI

Chapter 15 - Advance Rulings 25 To 27 chapters of Bangar

Chapter 18 - Settlement Commission 25 To 27 chapters of Bangar

11

CENTRAL EXCISE:

Chapter 4 - CENVAT Credit, Chapter 4 CENVAT Credit

Chapter 14 - Notification, Dept. clarifications & Trade Notices, Chapter 4 CENVAT Credit

Chapter 16 - Organisation Structure of Excise department. Chapter 5 General Procedures

13

SERVICE TAX:

Chapter 2 - Place of Provision of service Chapter 10 Place of Provision of Service

Chapter 3 - Point of Taxation Chapter 8 Point of Taxation

Chapter 4 - Valuation of Taxable Services Chapter 9 Principles of Interpretation & Valuation of services

19

SERVICE TAX:

Chapter 1 – Basic Concepts of Service Tax Chapter 7, 12 & 13

Chapter 5 – Exemptions & Abatements Chapter 11 & 14

23

SERVICE TAX:

Chapter 6 - Service Tax Procedure 15th chapter of Bangar

Chapter 7 - Demand, Adjudication & Offences 24th chapter of Bangar

Chapter 8 - Other Provisions 25 To 27 chapters of Bangar

27

CUSTOMS:

Chapter 1. Basic Concepts, 16 To 18 chapters of Bangar

Chapter 2. Levy of and Exemptions from Custom Duty, 16 To 18 chapters of Bangar

Chapter 3. Types of Duty, 16 To 18 chapters of Bangar

Chapter 4. Classification of Goods, 16 To 18 chapters of Bangar

Chapter 5. Valuation under The Customs Act, 1962, 16 To 18 chapters of Bangar

Chapter 6. Administrative Aspects of Customs Act, 1962, 16 To 18 chapters of Bangar

Chapter 7. Importation, Exportation & Transportation of Goods, 19 To 23 chapters of Bangar

Chapter 8. Warehousing, 19 To 23 chapters of Bangar

Chapter 11. Duty Drawback. 19 To 23 chapters of Bangar

31

CUSTOMS:

Chapter 9 Demand & Appeals 24,25 to 27 chapters of Bangar

Chapter 10. Refund 24 chapter of Bangar

Chapter 12. Provisions relating to Illegal Import, Export, Confiscation etc.

19 To 23 chapters of Bangar

Chapter 13. Settlement Commission 25 To 27 chapters of Bangar

Chapter 14. Advance Rulings 25 To 27 chapters of Bangar

Chapter 15. Miscellaneous Provisions 19 To 23 chapters of Bangar

Chapter 16. Foreign Trade Policy 28 chapter of Bangar

33 Complete Indirect Taxes amendments, and common topics in central excise, service tax and customs + Applicable case laws for relevant exam



9. SOME FAQs FOR UNDERSTANDING THE SCHEDULE:

a) Is it necessary to prepare AS as well as IndAS in FR for May 2016? As per the information available so far, students are required to prepare both old Accounting standards as well as new IndAS. The two important things that all of us shall bear in mind is, there is an update of AS to IndAs alongwith convergence with IFRS. For May 2016 carve ins and carve outs play a vital role, as this is a transition period.

b) Why Accounting Standards are tested after testing all other topics in FR? As there is introduction of IndAs and IFRS topics, we thought that it will take time for the students to understand those topics well. Meanwhile we will also get enough clarity with respect to the applicability of IndAS in the examinations.

c) Why the schedule is indexed with ICAI sources? Though author books are preferred during the classes, as far as exams preparation is concerned it is highly advisable for the students to stick on to institute sources.

d) Why some topics are tested more than once? We have done so by considering the importance and volume of those chapters.

e) Why there is cumulative testing for some chapters? In case of some voluminous chapters like PGBP in DT, Portfolio theory in SFM, etc. we are resorting to cumulative testing. We are doing so based on the relative importance of those topics in the examination.

f) Some topics are split into more than one exam and there is a gap in between those two parts or a new topic is tested in between, why? Such a testing is resorted purposefully but not vaguely. This helps to revise the topic twice. For example you can notice this in the chapter of Capital Budgeting in the subject of SFM.

g) Is there any specific exam to cover Amendments? A special exam is coined to cover DT amendments exclusively which shall be the last exam of DT subject. Also, for IDT the amendments are conducted as special exam ‘alongwith the common topics’ of Service Tax, Excise Duty and customs Duty. It enables students to be thorough with the common topics along with Amendments.

h) How will you identify DT, IDT chapter names in your reference book? Based on the mapping provided by us but student shall alert themselves to maintain due vigilance.

i) Why some subjects are conducted twice in Pre Final exams? We have done so keeping the volume of the subjects of DT and IDT in mind.

THE END

Dear student,

If study hours are not conducted strictly then immediately send an SMS to my cell number with all necessary details such as Campus name, Incharge name, etc. You need not even disclose your name. I assure that I will take immediate measures and rectify the problem. But my sincere advice is to attend for Study Hours and don’t plan for home preparation.

CELL: 92487 33348 (JUST SEND SMS & DON’T MAKE PHONE CALL UNLESS IT IS AN EMERGENCY)

Alternatively, you can also mail your complaints or problems to my personal mail id i.e. [email protected]

- CA.M.S.S.PRAKASH, ACADEMIC DIRECTOR, MASTERMINDS

mailto:[email protected]

annexure no.2 . non ic batch - ca final revision exams ...mastermindsindia.com/ca final revision...

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