CA Final suggested answers for May 2013 ICAI's Latest

The below are the links of the ca final suggested for may 2013 exams by ICAI. Suggested answers are usually released by ICAI so as to help students verify their accuracy of answers and also to make aware of the standards of the asnwers or CA exams . ICAI too recommends students to go through them . We also suggest you a have a copy of these papers so as to make your study more effective.


CA Final suggested Answers Downlaod:

Group I


PAPER – 1 : FINANCIAL REPORTING


PAPER – 2 : STRATEGIC FINANCIAL MANAGEMENT


PAPER – 3 : ADVANCED AUDITING & PROFESSIONAL ETHICS


PAPER – 4 : CORPORATE AND ALLIED LAWS


Group II


PAPER – 5 : ADVANCED MANAGEMENT ACCOUNTING


PAPER – 6 : INFORMATION SYSTEMS CONTROL AND AUDIT


PAPER – 7 : DIRECT TAX LAWS


PAPER – 8 : INDIRECT TAX LAWS






CA Final Nov 2013 time table/ Date sheet here

Hi dear Future Chartered Accountants much awaited date sheet/ time table for upcoming CA Exams of November 2013 of CA IPCC CA FINAL and Others like Insurance Risk Management have been confirmed and the Dates of the examinations have been declared by ICAI in its recent announcement .

The time period is four months this should help student to design a best plan for preparing for the exams. The CA exams of IPCC and Final will be held from 5th November to 21 November. The detail regarding the Fee for the exams is also declared, in which no change is seen.



CA Final November 2013 time table/ Date sheet here:


Date of the exam
Day of the exam
Name of the Exam
Group 1


5th
Tuesday
Financial Reporting
7th
Thursday
Strategic Financial Management
9th
Saturday
Advanced Auditing and Professional Ethics
11th
Monday
Corporate and Allied Laws
Group 2


13th
Wednesday
Advanced Management Accounting
16th
Saturday
Information Systems Control and Audit
19th
Tuesday
Direct tax Laws
21st
Thursday
Indirect Tax Laws          

CA IPCC exam online application form for Nov 2013:


Registering for exams can be done in anyway of the below two ways
1. By Physical application form Costing rs.500/-
2.By online free of cost of rs.500/- at  icaiexam.icai.org





How to apply through physical from:
The physical from can be bought from nearest chapter office of ICAI at you at cost of rs.500/-. The form will be available from 5th of August . After filling the form a demand draft should be drawn under the favour The ICAI payable at New Delhi. For those applying online cost of rs.500/- is waived.

How to apply for CA exams through online:
The application for the CA exams through online will be made available in the ICAI’s Portal for exams just after the results for CA IPCC may 2013 are declared. The last date for submitting the exams through online is not yet confirmed we request you wait till the results for the notification.
Exam Fee structure for CA IPCC nov 2013
For Any one of the Groups     - rs.1000/-
For both Groups                                 -rs. 1600/-
Exam fee structure for CA FINAL nov 2013:
For any one of the groups    -rs. 1250/-
For both groups          -rs. 2250/-

Address to forward CA IPCC  online application for examination:
 


To,
The Additional Secretary ,
THE ICAI Bhawan,
Indraprasrtha Marg,
New Delhi-110002

CA IPCC November 2013 Time Table/ Date sheet

Hi dear Future Chartered Accountants much awaited date sheet/ time table for upcoming CA Exams of November 2013 of CA IPCC CA FINAL and Others like Insurance Risk Management have been confirmed and the Dates of the examinations have been declared by ICAI in its recent announcement .
The time period is four months this should help student to design a best plan for preparing for the exams. The CA exams of IPCC and Final will be held from 5th November to 21 November. The detail regarding the Fee for the exams is also declared, in which no change is seen. The online Application will to register for CA exams will be made available from 5th of August.

And now the CA IPCC Exam Time Table/ Date sheet below here:


Date of the exam
Day of the exam
Name of the Exam
Group 1


6th
Wednesday
Accounting
8th
Friday
Ethics , BC and other laws
10th
Sunday
Costing and Financial Management
12th
Tuesday
Taxation
Group 2


15th
Friday
Advanced Accounting
18th
Monday
Auditing and Assurance
20th
Wednesday
Information Technology and SM

The students may take note that for Advanced accounting and auditing and assurance exams the time gap is more compared to the other exams , and are requested to go through them and use this as
 an advantage.

CA IPCC NOV 2013 EXAMS time table/ exam schedule

Now pay TDS on sale of property


TDS is source of income that ensures continues inflow of revenue foreign and in countries like INDIA as well its regime has expanded since past years.

TDS covers many incomes like rent and some other payments etc.
Following its major breakthrough:o Income tax Department. AS the TDS is well followed and considered a good source of revenue both in F
with effective from  1ST June 2013

Any person purchasing Immovable property other than rural agricultural land of Rs 50 lac or more is required to deduct tax @ 1 % from the payment made to seller.

Hence the minimum amount of tax rate starts from 50,000 i.e, 1% of 50lac.



How to pay TDS on Property?

The responsibility of payment of TDS on property is divided between purchaser and seller

Purchaser of Immovable property’s responsibility:

  •   Deduct tax @ 1% from payment made to seller.
  •   Verify and Collect PAN of the seller
  •   File the statement online a t   www.tin-nsdl.com
  •   Fill in the PAN of the seller & purchaser while providing information regarding sale transaction in  FORM 26 QB without any error
  •  Tax deducted to be deposited through e payment only, either at time of Filing of FORM 26QB or subsequently depending upon facility at any authorized bank or net banking can also be used
  •   When opted for Subsequent filing:
  • when the purchaser of Immovable property wishes to file the return in FORM 26QB subsequently the tax should be paid electronically at any authorized BANK within 7 days after online filing of statement in above point
  •   Any delay beyond 7 days in payment of tax will make the statement Invalid and FORM26QB need to be filed again
  •   The TDS certificate should be downloaded from the traces


Seller of Immovable property’s responsibility:
  • Provide PAN to purchaser of property
  • Verify tax deposited by purchaser in seller FORM 26 QB in Annual Tax statement
Note:
  • TAN is not required


CA IPCC MAY 2013 Results on 31st of July

Welcome back to  the leading blog for ca study. Hope you have done well for your exams of CA IPCC may 2013. The much awaited results of the CA IPCC may 2013 are soon to be expected in 1st week of August. Following its old trend the ICAI will be declaring  results of CA IPCC on the 31 st of July at 4.00 pm the results for last May 2012 exams also released on 1st week of August.

The results of CA IPCC May-2013 exams will be officially announced at
www.caresults.nic.in


The main problem with the results is the time interval is more than one & half month from the time exams are commenced. Cheering you up we are glad to say that  pass percentage is expected to increase comparatively with last attempt.

We wish you all the best for the results!


check out CA IPCC Results to be declared on 31st of July


CA IPCC Amendments for Nov 2013

ICAI's Latest Applicable AS and SA for CA IPCC NOV 2013:

The ICAI has in its recent meeting held clarified some matters relating to the syllabus of CA IPCC November 2013 exams . 

The matter includes some changes and applicable accounting standards for CA IPCC exam of November 2013 and applicable Standards on auditing for CA IPCC exam of November 2013.

As Accounting Standards are covered in the both groups of CA IPCC in the subjects of Accounting and Advanced Accounting.
 Standards on Auditing are covered in Auditing and Assurance subject of group 2 of CA IPCC .

Accounting Standards covering a weight age of 8 to 20 marks in each subject of CA IPCC. Standards on auditing also have similar weight age .


The Notification is here

Issues with CA Articleship South Zone:




 WE never wished to raise this Topic, Our policies and Ethics with which our work is constructed demands to convey the facts arising there upon with your Study, circulant, so as to make you more cautious. 

As we started inquiring students how were they going with CA Articeship and New entrants of CA Inter we came across some major issues prevailing mainly in the South Zone which bringing in Light will make you more aware of Facts .

The Issue is “The Steep fall in Vacancies for New entrants in the states of AP , Karnataka etc”. Before two years a New CA IPCC G 1 entrant was given around stipend of not less than 5k and now the scenario is such the same student is hardly making to 3 to 4k.  As calculated with the Inflation rates Stipend amount should be considerably increased, unfortunately the situation is inversely proportional the reason are many to the standards we are able to get a brief overview to your concern.

Supply Vs Demand:

                        As speaking strict economics the supply of good should always meet the demand. If in case supply is in excess of demand, it will result in decreasing the price of the product the same is case for us. The CA firms are not in state to absorb Supply of New entrants at all.  The Happening is that when Student gets recruited in a CA firm or Co. a permanent fixed time for 3 years must be under it. The period vacancy is be hold for locking period of 3 years and no more vacancy can arise in his/ her place till opted for transfer/ termination of CA  Articleship with that Firm

Reasons for more Supply:

1 .Low Standards of Question Papers:
                                          As per the analysis made on Previous Question Papers of Past Ten years Nov 2011 attempt’s Question papers can be considered to be designed focusing on basic formulas and concepts. An average student can easily have and has cracked the exam with much ease . The decrease in standards of Question Papers are hold a positive sign by ICAI by which CA dream has now less effort many more can fulfill this.

2. Scenario before:
                         Dating back to when PE 1 and PE 2 were conducted and the entrants were requested to join in the firms though they had CA FINAL for them and as of now many resumes of new entrants are rejected with no mercy. Demand for CA Articles was more then compared to now.

3. Job first Practice Next:
                                The latest bulletin news by ICAI said the newly qualified have become more job Seekers and fewer practitioners. As in case of Practice there is lag time for gaining the clients and getting reputation and goodwill which newly qualified who has just completed his course and is full of hunger to earn good dollars would never opt. It can be said the Corporate are eating away the newly qualified and hallowing the path for CA practitioners. Where a newly qualified CA is given secured future with best benefits no longer which for practicing can exist except those having a strong desire for Self Employment

4. Say YES!! To less:
                      Banging head without being employed is worse than nodding head for less Stipend. No option left to the confused students but just accepting dissatisfied workplace.

What we recommend to ICAI?

1. Include practicing must for CA member for at least a period of 5 years after certain period of being employed

2. Tie Up with for creating more vacancies, recognizing CA Articleship and giving it complete Job profile in Companies

3. Employee CA with Article:

                              So far only CA Firms or CA in practice is employing CA student, Of course many companies are doing the same.

For Example: A internal Auditor of Company should have a Article working under with him.

5. Decrease the period of CA Articleship so as to decrease locking period

6.Focusing more on CA Industrial Training giving it due importance as given to CA Articleship.

Comments Welcomed:

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