CA Inter Accounts by CA Rakesh Kalra

Course Content

Paper 1: Accounting

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. Applications of Accounting Standards:

• AS 1- Disclosure of Accounting Policies

• AS 2- Valuation of Inventories

• AS 3- Cash Flow Statements

• 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

4. Company Accounts

• Preparation of financial statements – Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;

• Managerial Remuneration;

• Profit (Loss) before incorporation;

• Accounting for bonus issue and right issue;

• Redemption of preference shares;

• Redemption of debentures

5. Accounting for Special Transactions:

• Investment;

• Insurance claims for loss of stock and loss of profit;

• Hire- purchase and Instalment sale transactions

6. Special Type of Accounting

• Departmental Accounting;

• Accounting for Branches including foreign branches;

• Accounts from Incomplete Records

Note: If there are any new provisions in the CA Intermediate accounting syllabus in terms of Accounting standards, announcements and revisions, the new accounting syllabus for CA intermediate will include the same.