Indian Contract Act Notes

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Guys from here you can download Indian Contract Act 1872 Notes, in simple language and easy to learn. The notes are fully fledged with examples to give you guys better understanding about the provisions.


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CA Final RTP For November 2014

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Guys ICAI has released the CA Final RTP for November 2014 Exams. 

As you all know the RTP are based on new syllabus and also contains the amendments of CA Final November 2014 and May 2015 Exams. The answers are based on the latest amendments. Its really important to do RTP before exams because its the best practice option available to the student containing all the latest amendments and questions based on them.

 

 

 

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CA Final Cost OR TheoryNotes

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ISCA Complete Notes for November 2014 Onwards

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Paper 6: Information Systems Control and Audit
[One paper: Three Hours – 100 marks]

Level of Knowledge :

Advanced knowledge.

Objectives:

To gain application ability of necessary controls, laws and standards in computerized Information system.

Contents:

1.	Information Systems Concepts
	General Systems Concepts – Nature and types of systems, nature and types of information, attributes of information.
	Management Information System – Role of information within business
	Business information systems –various types of information systems – TPC, MIS, DSS, EIS, ES
2.	Systems Development Life Cycle Methodology
	Introduction to SDLC/Basics of SDLC
	Requirements analysis and systems design techniques
	Strategic considerations : Acquisition decisions and approaches
	Software evaluation and selection/development
	Alternate development methodologies- RAD, Prototype etc
	Hardware evaluation and selection
	Systems operations and organization of systems resources
	Systems documentation and operation manuals
	User procedures, training and end user computing
	System testing, assessment, conversion and start-up
	Hardware contracts and software licenses
	System implementation
	Post-implementation review
	System maintenance
	System safeguards
	Brief note on IS Organisation Structure
3.	Control objectives
	(a) Information Systems Controls Need for control Effect of computers on Internal Audit Responsibility for control – Management, IT, personnel, auditors Cost effectiveness of control procedure Control Objectives for Information and related Technology (COBIT) (b) Information Systems Control Techniques Control Design: Preventive and detective controls, Computer-dependent control, Audit trails, User Controls (Control balancing, Manual follow up) Non-computer-dependent (user) controls: Error identification controls, Error investigation controls, Error correction controls, Processing recovery controls (c) Controls over system selection, acquisition/development Standards and controls applicable to IS development projects Developed / acquired systems Vendor evaluation Structured analysis and design Role of IS Auditor in System acquisition/selection (d) Controls over system implementation Acceptance testing methodologies System conversion methodologies Post implement review Monitoring, use and measurement (e) Control over System and program changes Change management controls Authorization controls Documentation controls Testing and quality controls Custody, copyright and warranties Role of IS Auditor in Change Management (f) Control over Data integrity, privacy and security Classification of information Logical access controls Physical access controls Environmental controls Security concepts and techniques – Cryptosystems, Data Encryption Standards (DES), Public Key Cryptography & Firewalls Data security and public networks Monitoring and surveillance techniques Data Privacy Unauthorised intrusion, hacking, virus control Role of IS Auditor in Access Control
4.	Audit Tests of General and Automated Controls
	(a) Introduction to basics of testing (reasons for testing); (b) Various levels/types of testing such as: (i) Performance testing, (ii) Parallel testing, (iii) Concurrent Audit modules/Embedded audit modules, etc.
5.	Risk assessment methodologies and applications:
	(a) Meaning of Vulnerabilities, Threats, Risks, Controls, (b) Fraud, error, vandalism, excessive costs, competitive disadvantage, business, interruption, social costs, statutory sanctions, etc. (c) RiskAssessment and Risk Management, (d) Preventive/detective/corrective strategies
6.	Transfer pricing
	(a) Fundamentals of BCP/DRP, (b) Threat and risk management, (c) Software and data backup techniques, (d) Alternative processing facility arrangements,(e) Disaster recovery procedural plan, (f) Integration with departmental plans, testing and documentation, (g) Insurance
7.	An over view of Enterprise Resource Planning (ERP)
8.	Information Systems Auditing Standards, guidelines, best practices (BS7799, HIPPA, CMM etc.)

company law 2013 Sections Applicable in CA Final November Exams

S.No.	Section no. as per Companies Act, 1956	Section no. as per Companies Act, 2013	Provisions
1	207	127	Punishment for failure to distribute dividends.
2	211	133	Central Government to prescribe accounting standards.
3 (i)	260	161(1)	Appointment of additional director
(ii)	313	161(2)	Appointment of Alternate director
(iii)	No Provision	161(3)	Appointment of Nominee director
(iv)	262	161(4)	Filing of Casual Vacancy
4	263	162	Appointment of directors to be voted individually.
5	265	163	Option to adopt principle of proportional representation for appointment of directors.
6	290	176	Defects in appointment of directors not to invalidate actions taken.
7	293	180	Restrictions on powers of Board.
8	293(1)(e)	181	Company to contribute to bona fide and charitable funds, etc.
9	293A	182	Prohibitions and restrictions regarding political contributions.
10	293B	183	Power of Board and other persons to make contributions to national defence fund, etc.
11	295	185	Loan to directors, etc.
12	No Provision	192	Restriction on non-cash transactions involving directors.
13	No Provision	194	Prohibition on forward dealings in securities of company by a key managerial personnel.
14	No Provision	195	Prohibition on insider trading of securities.
15	318	202	Compensation for loss of office of managing or whole-time director or manager.
16	591	379	Application of Act to foreign companies.
17	595	382	Display of name, etc., of foreign company.
18	596	383	Service on foreign company.
19	602	386  [Except clause(a)]	Interpretation.
20	615	405	Power of Central Government to direct companies to furnish information or statistics.
21	619A	394	Section 394- Annual reports on Government companies.
22	620	462	Power to exempt a class or classes of companies from provisions of this Act.
23	621	439	Offences to be non-cognizable.
24	624A	443	Power of Central Government to appoint company prosecutors.
25	624B	444	Appeal against acquittal.
26	No Provision	445	Compensation for accusation without reasonable cause.
27	626	446	Application of fines.
28	No Provision	447	Punishment for fraud.
29	628	448	Punishment for false statements.
30	629	449	Punishment for false evidence.
31	629A	450	Punishment where no specific penalty or punishment is provided.
32	No Provision	451	Punishment in case of repeated default.
33	630	452	Punishment for wrongful withholding of property.
34	631	453	Punishment for improper use of “Limited” or “Private Limited”.
35	633	463	Power of Court to grant relief in certain cases
36	635A	456	Protection of action taken in good faith.
37	635AA	457	Non-disclosure of information in certain cases.
38	637	458	Delegation by Central Government of its powers and functions.
39	637A	459	Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications
40	637B	460	Condonation of delay in certain cases.
41	638	461	Annual report by Central Government.
42	641	467	Power of Central Government to amend Schedules.
43	642	469	Power of Central Government to make rules.
44	643	468	Power of Central Government to make rules relating to winding up.
45	No Provision	470	Power to remove difficulties.

HOW TO APPLY FOR REVALUATION FOR CA IPCC/FINAL EXAMS

Q1. What is Revaluation of Marks?

If you are not satisfied with the Marks awarded to in the CPT Result/ IPCC Result/ CA Final Result , you should apply for Revaluation of Answer Sheets.

From November 2011 onwards you can also ask for the disclosure & inspection of your answer sheet.

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Q2. What is the Procedure to apply for Revaluation of Marks?

No Standard Procedure/ Application Form if there for applying for Revaluation of Marks of CA CPT / CA IPCC / CA Final.

You have to send a simple Hand written application to the Institute in your Own Handwriting mentioning the following details:

• Your Roll No. (CPT Admit Card / IPCC/ Final Admit Card)
• Your Registration No.
• Paper(s) to be verified
• Examination Appeared for Like: (CA CPT / PCC / IPCC / Final)
• Your Address for Communication

If your medium of examination was in Hindi then you have to send the application for Revaluation of marks in Hindi in your own handwriting. You have to sign the application & with the application you have to send the requisite fee by way of DD (Demand Draft) within 1 month of the date of declaration of Results.

You don’t have to write your mobile no. or email id or landline numbers for such verification requests. In case you send the Printed Application, it will be rejected instantly. So better write it down.

You can file Application for Verification/ Revaluation of Marks online on the official website:http://icaiexam.icai.org.

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2. What is the fee for Revaluation of Marks?

Fee for Revaluation of Marks for IPCC and Final	Rs. 100 /- per paper subject to a maximum of Rs. 400/- for all the papers of a group/ both groups.
Fee for Revaluation of Marks for CPT	Rs. 200
Fees is to be remitted by way of Demand Draft in favor of “The Secretary, The Institute of Chartered Accountants of India” payable at New Delhi.

3. What aspects are covered in Verification of Marks?

Ans. It covers the following:

• Whether the answer book(s) compilation is complete
• Whether any question or part thereof has remained unvalued
• Whether there is any totaling error in any question or total marks on the cover page
• Whether there is any discrepancy between the marks for each question and or/part thereof and marks for each question indicated on the cover page of the answer book
• Whether the handwriting of the candidate in all the answer books is the same

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4. Where to send the Application?

You have to send/ deposit the Application & Demand Draft at either of the following address:

a. “The Additional Secretary (Exam), ICAI Bhawan, Post Box No. 7112, The Institute of Chartered Accountants of India, Indraprastha Marg, New Delhi – 110 002“

b. “The Senior Deputy Director (Exams), The Institute of Chartered Accountants of India, C-1, Sector -1, Noida- 201301“

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5. When is the Revaluation Result announced?

It can take good 6-8 weeks for the declaration of result. (May be longer sometime)

Results are displayed online but a written communication is also sent to you at the address mentioned by you in the application.

If your marks are revised after revaluation then you will also get a Revised Marksheet.

You can check your results of Verification/Revaluation of Marks Online

http://icaiexam.icai.org/verification/check_result_ver.php

In case you don’t receive the result latest upto 20 days before commencement of the next exam, you have to send an email to the exam department at exam@icai.org

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6. What could be the possible result of Revaluation?

The Revaluation can result in:

• No Change of Marks
• Increase of Marks, impacting Result or Exemption in one or more papers
• Increase in Marks, which does not have any impact on Result or Exemption in one or more papers
• Decrease of Marks

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7. Do we get refund in case of change of Marks?

If your marks change, the verification fee will be refunded to you automatically.

You don’t need to make any separate claim for refund & a demand draft will be sent to your address.

Advice: If your Revaluation result is not announced before the last date of submission of Next Examination Form, then you must apply for the next exams.

Now, if later on your Revaluation Result comes positive and you are declared as passed in the Revaluation Process– then Examination Fees paid by you will also be refunded. (Isn’t it good enough?)

Process of Online Application for Revaluation

1. Write an application for Revaluation of marks in your own handwriting.

2. Scan the application.

3. Visit: http://icaiexam.icai.org.

4. On the upper left hand side click on “Apply Online for Verification, Inspection or Certified Copies”

5. Following options will open when you place the mouse over it:

a. Apply Online for Verification of Nov2013 Exams

b. Check payment status of Verification of Answer Books

c. Apply online for Inspection or Certified Copies- Nov2013

d. Check payment status of Inspection or Certified Copies of Application.

Click on the “a.” option.

6. You will be taken to a new webpage which gives the details of online application procedure. Go through the details and click on the link at the bottom of the page.

7. Then a new page will get opened. Enter your details over there and it will be all done

Cost FM All Formulas (Handwritten) Notes for ca ipcc

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Cost FM All Formulas:

 

Topics Covered :

1. Operating Costing

2. Overheads

3. Joint and By-product Costing

4. Marginal Costing and Absorption Costing

5. Reconciliation

6. Standard Costing

7. Process Costing

8. Cost Sheet

9. Contract Costing

10. Labor Costing

11. Integrated and Non-Integrated

12. Material

13. Capital Budgeting

14. Capital Structure

15. Cash Flow Statement

16. Cost Of Capital

17. Debtors Management

18. Fund Flow Statement

19. Leverages

20. Ration Analysis

21. Working Capital Management

22. Important Theory Questions Of Costing (With Answers)

23. Important Theory Questions Of Financial Management (With Answers)\

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ALL IN ONE CPT NOTES

GENERAL ECONOMICS

MERCANTILE LAW

QUANTITATIVE APTITUDE



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IPCC Taxation Amendments For November 2014

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The New Syllabus for IPCC Taxation is :

Part I: Income-tax (50 marks)
1. Important definitions in the Income-tax Act, 1961
2. Basis of charge; rates of taxes applicable for different types of assessee
3. Concepts of previous year and assessment year
4. Residential status and scope of total income; Income deemed to be received / deemed to accrue or arise in India
5. Incomes which do not form part of total income
6. Heads of income and the provisions governing computation of income under different heads
7. Income of other persons included in assessee’s total income
8. Aggregation of income; set-off or carry forward and set-off of losses
9. Deductions from gross total income
10. Computation of total income and tax payable; rebates and reliefs
11. Provisions concerning advance tax and tax deducted at source
12. Provisions for filing of return of income.

Part II: Indirect Taxes (50 marks)
Objective:
To develop an understanding of the basic concepts of the different types of indirect taxes and to acquire the ability to analyse the significant provisions of service tax.
1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional aspects, Basic concepts relating to levy, taxable event and related provisions
2. Significant provisions of service tax
(i) Constitutional Aspects
(ii) Basic Concepts and General Principles
(iii) Charge of service tax including negative list of services
(iv) Point of taxation of services
(v) Exemptions and Abatements
(vi) Valuation of taxable services
(vii) Invoicing for taxable servicesPage 11 of 17
(viii) Payment of service tax
(ix) Registration
(x) Furnishing of returns
(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004


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Indirect Tax Charts for ca final

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Paper 8: Indirect Tax Laws

(One paper – Three hours – 100 marks)

Revised Syllabus – Applicable from November, 2014 Examination onwards

(One Paper – Three hours – 100 marks)

Level of Knowledge: Advanced knowledge

Objectives:

(a) To gain advanced knowledge of the principles of the laws relating to central excise,
service tax and customs
(b) To acquire the ability to apply the knowledge of the provisions of the above-mentioned
laws to various situations in actual practice

Contents:

Section A: Central Excise (25 marks)
Central Excise Act, 1944 and the Central Excise Tariff Act, 1985
Section B: Service Tax (50 marks)
Law relating to service tax as contained in the Finance Act, 1994 as amended from time to time.
Section C: Customs and Foreign Trade Policy (25 marks)
Customs Act, 1962, Customs Tariff Act, 1975 and Foreign Trade Policy to the extent relevant to the Customs Law.




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CA IPCC/FINAL/CS SALARY NOTES

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SECTION 80C EASY NOTES FOR CA IPCC AND CA FINAL

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All Accounting Standards Notes

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	AS 1 Disclosure of Accounting Policies
	AS 2 Valuation of Inventories
	AS 3 Cash Flow Statements
	AS 4 Contingencies and Events Occuring after the Balance Sheet Date
	AS 5 Net Profit or Loss for the period,Prior Period Items and Changes in Accounting Policies
	AS 6 Depreciation Accounting
	AS 7 Construction Contracts (revised 2002)
	AS 9 Revenue Recognition
	AS 10 Accounting for Fixed Assets
	AS 11 The Effects of Changes in Foreign Exchange Rates (revised 2003),
	AS 12 Accounting for Government Grants
	AS 13 Accounting for Investments
	AS 14 Accounting for Amalgamations
	AS 15 Employee Benefits (revised 2005)
	AS 16 Borrowing Costs
	AS 17 Segment Reporting
	AS 18 Related Party Disclosures
	AS 19 Leases
	AS 20 Earnings Per Share
	AS 21 Consolidated Financial Statements
	AS 22 Accounting for Taxes on Income.
	AS 23 Accounting for Investments in Associates in Consolidated Financial Statements
	AS 24 Discontinuing Operations
	AS 25 Interim Financial Reporting
	AS 26 Intangible Assets
	AS 27 Financial Reporting of Interests in Joint Ventures
	AS 28 Impairment of Assets
	AS 29 Provisions,Contingent` Liabilities and Contingent Assets

Income Tax Summary Notes for ca final

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THE NOTES CONTENTS:
❖ INCOME UNDER THE HEAD BUSINESS/PROFESSION
❖ INCOME UNDER THE SALARY
❖ INCOME UNDER THE HEAD CAPITAL GAINS
❖ AGRICULTURAL INCOME
❖ CLUBBING OF INCOME
❖ INCOME UNDER THE HEAD OTHER SOURCES
❖ DEDUCTION OF TAX AT SOURCE
❖ SET OFF AND CARRY FORWARD OF LOSSES
❖ PROVISIONS FOR FILING OF RETURN OF INCOME
❖ CHARITABLE TRUST/ RELIGIOUS TRUST
❖ IMPORTANT DEFINITIONS IN INCOME TAX ACT
❖ INCOME EXEMPT FROM INCOME TAX

CA Final Auditing Updated notes for November 2014 and May 2015 Exams

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CA Final SFM Theory Notes

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Level of Knowledge :

Advanced knowledge.

Objectives:

To apply financial management theories and techniques for strategic decision making.

Contents:

1.	Financial Policy and Corporate Strategy
	Strategic decision making framework
	Interface of Financial Policy and strategic management
	Balancing financial goals vis-� -vis sustainable growth.
2.	Project Planning and Capital Budgeting
	Feasibility study
	Cash flow Projections – Impact of taxation, depreciation, inflation and working capital
	Capital Budgeting Decisions – Certainty Equivalent approach, Evaluation of Risky Investment Proposals, Risk and Return analysis, Simulation and decision tree analysis, Sensitivity analysis, Capital Rationing, Adjusted Net Present Value, Replacement decisions, Application of Real Options in capital budgeting, Impact of inflation on capital budgeting decisions
	Preparation of Project Report
	Social cost benefit analysis.
3.	Leasing decision including cross border leasing
4.	Dividend Decisions
	Dividend theories, Determinants of dividend policies.
5.	(a) Indian Capital Market including role of various primary and secondary market institutions (b) Capital Market Instruments Financial derivatives – stock futures, stock options, index futures, index options Option valuation techniques : Binomial model, Black Scholes Option Pricing Model, Greeks – Delta, Gamma, Theta, Rho and Vega Pricing of Futures – Cost of carry model Imbedded derivatives (c) Commodity derivatives (d) OTC derivatives Swaps, Swaptions, Forward Rate Agreements (FRAs), Caps, Floors and Collors.
6	Security Analysis
	Fundamental analysis – Economic analysis, Industry analysis and Company Analysis
	Bond valuation, Price Yield relationship, Bond Price forecasting – application of duration and convexity, Yield curve strategies
	Technical Analysis – market cycle model and basic trend identification, different types of charting, support and resistance, price patterns, moving averages, Bollinger Bands, momentum analysis.
7.	Portfolio Theory and Asset Pricing
	Efficient Market Theory – Random walk theory ; Markowitz model of risk return optimization
	Capital Asset Pricing Model (CAPM)
	Arbitrage Pricing Theory (APT)
	Sharpe Index Model
	Portfolio Management – Formulation, Monitoring and Evaluation
	Equity Style Management
	Principles and Management of Hedge Funds
	International Portfolio Management.
8.	Financial Services in India
	Investment Banking
	Retail Banking
	On Line Share Trading
	Depository Service.
9.	(a) Mutual Funds: Regulatory framework, formulation, monitoring and evaluation of various schemes of Mutual funds, Money market mutual funds. (b) Exchange Traded Funds.
10.	Money Market operations
11.	(a) Foreign Direct Investment, Foreign Institutional Investment. (b) International Financial Management Raising of capital abroad – American Depository Receipts, Global Depository Receipts, External Commercial Borrowings and Foreign Currency Convertible Bonds International Capital Budgeting International Working Capital Management.
12.	Foreign Exchange Exposure and Risk Management
	Exchange rate determination, Exchange rate forecasting
	Foreign currency market
	Foreign exchange derivatives – Forward, futures, options and swaps
	Management of transaction, translation and economic exposures
	Hedging currency risk.
13.	Mergers, Acquisitions and Restructuring
	Meaning of mergers and acquisition, categories, purposes
	Process of mergers and acquisition – Identification and valuation of the target, acquisition through negotiation, due diligence, post – merger integration
	Legal and regulatory requirements
	Merger and Acquisition agreement
	Reverse merger
	Potential adverse competitive effects of mergers
	Corporate Takeovers: Motivations, Co-insurance effect, Cross-border takeovers, Forms of takeovers, Takeover defenses
	Going Private and Other Control Transactions: Leveraged Buyouts (LBOs), Management Buyouts (MBOs), Spin Offs and Asset Divestitures
	Corporate Restructuring : Refinancing and rescue financing, reorganizations of debtors and creditors, Sale of assets, targeted stock offerings, downsizing and layoff programmes, negotiated wage give-backs, employee buyouts.

CA FINAL- Direct Tax November 2014 Case Summary

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Guys here i am giving you the CA Final Direct Tax Case Summary applicable for November 2014 exams. You can click on the image to download the notes

 

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Accounting standard 19,20,26 video lecture

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