CA, CS, CMA

Revenue recognition under IND-AS & IFRS – Comparative overview

Revenue recognition under IND-AS & IFRS – Comparative overview- Article discusses Applicability of IFRS-15 and IAS-115 and further discusses the following- Revenue recognition steps- 5 steps model Step: 1  Identify the contract(s) with a customer Step: 2 Identify the performance obligations in the contract Step: 3 Determine the tra...

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Bitter But Real Side of ICAI Elections

The wait is all over. The day has come. Election Day! A Big day! But have you ever tried to notice a big day for whom?? For Profession at large or a big day for prospective candidate alone. What are you voting for? Who are you voting to? You think you seriously know about the […]...

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Valuation of Financial Instrument

Financial instrument are those contracts that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity. Some of examples of financial instruments are investment in equity instruments of other entity, derivatives, debt instruments, compound instruments, deferred purchase considerations,...

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Leadership and its Importance

Leadership is a process by which an executive can direct, guide and influence the behavior and work of others towards accomplishment of specific goals in a given situation. Leadership is the ability of a manager to induce the subordinates to work with confidence and zeal....

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Motivation “Great Things Never Comes From Comfort Zone”

INTRODUCTION:  MOTIVATION:  A reason or reasons for acting or behaving in a particular way. Motivation is the reason for people’s actions, willingness and goals. Motivation is derived from the word motive which is defined as a need that requires satisfaction. These needs could also be wants or desires that are acquired through inf...

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ICAI Election: Complete ban on canvassing on days of polling

ANNOUNCEMENT 7th December, 2018 Sub.: Complete ban on canvassing on days of polling Candidates and their supporters may kindly note that Election Code of Conduct continues to be in force on the days of polling and the same will come to an end only upon declaration of results of elections. Further, the Election Code imposes […]...

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Do’s and Dont’s for ICAI Election candidates

As members are aware, the triennial elections to the twenty fourth Council and twenty third Regional Councils are scheduled to be held on 7th and 8th December, 2018 in cities having more than 2500 voters and on 8th December, 2018 in other cities....

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Exposure Drafts of Guidance Note on Audit of Banks 2019 Edition

This year also, the Board is in the process of bringing out the Guidance Note on Audit of Banks 2019 edition. It may be noted that this year, the Guidance Note has been divided into 3 separate Guidance Notes dealing with (1) Statutory Central Audit, (2) Foreign Exchange Transactions and Integrated Treasury, and (3) Bank Branch Audit other...

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Guide to Standard on Auditing (SA) 230, Audit Documentation

Implementation Guide to Standard on Auditing (SA) 230, Audit Documentation (Revised 2018) The Institute of Chartered Accountants of India  (Set up by an Act of Parliament) New Delhi  Foreword Standards on Auditing are critical in ensuring and enhancing quality in audits of financial statements. It is therefore necessary that the auditor...

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ICAI demands apology from ET for publishing alleged derogatory article

Please refer to the article titled ICAI is dead. How a ministry report put the final nail in the coffin written by N Sundaresha Subramanian and Muskan Khan and published in the ET Prime dated 22nd November, 2018...

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CA can be held guilty of professional Misconduct for his act although unrelated to profession but which brings disrepute to the profession or ICAI

Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India) - Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India) The Supreme Court observed that the chartered accountants can be proceeded against for their acts which bring disrepute to the profession whether or not related to his professional work. The bench comprising Justice Rohi...

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What should happen on the exam day of any subject of CA final/IPCC?

Here are the things, which, if followed, I assure that you will be confident in each of your exam (provided you have completed the subject 2-3 times): 1. Sleep for 7 hours in the night just before the day of your exam. That is only way to RECALL everything you have read so far while writing the ...

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CA Final Result: A mistake & error cannot confer a legal right: HC

Milind Aggarwal Vs ICAI (Delhi High Court) (Delhi High Court) - Milind Aggarwal Vs ICAI (Delhi High Court) The dispute relates to the result declared by the respondent-institute. The appellants claim that they had cleared Group I/II as per the result circulated through Whatsapp messages and uploaded on Facebook. They rely on the screenshots. The appellants howev...

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Alleged Professional Misconduct issue cannot be decided based on law enacted subsequently

Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) - Devendraa P. Kapur Vs. ICAI & Others (Appellate Authority) The Appellant has also taken a ground of Appeal before us that the Disciplinary Committee has decided these cases in accordance with the law which was not prevalent when the alleged misconduct was committed but came into effect after the...

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Appellate Authority cannot review its own order under CS Act, 1980

Mr. Ashwani Khanna Vs. ICSI (Appellate Authority) - In view of our another Order dated 3rdFebruary, 2018 passed in an Appeal No. 10/ICSI/2015 namely Benny Methew vs. ICSI, we have already held that this Authority does not have the power to review its own Orders either expressly or by necessary implication....

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Rs 50 crore GST evasion Case- Accused is not a CA- ICAI

Misc/PRG/LE-8/2018 - (12/11/2018) - After comprehensive review of the aforesaid news-item, ICAI, being a regulator of the profession of Chartered Accountants had taken up the matter and verified its records and found that Madhusudan Pandey is not a Chartered Accountant as his name does not appear in the Register of members maintained ...

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Govt allows appearance via video-conference in CA Misconduct cases

Notification No. G.S.R. 1072(E) - (29/10/2018) - These rules may be called the Chartered Accountants (Procedure of Investigations of Professional and Other Misconduct and Conduct of Cases) Second Amendment Rules, 2018. For the purpose of this rule, the appearance also includes the appearances through video–conference, modalities for which may be...

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Empanelment for Official Liquidator as Auditors in Companies under liquidation

No: OL/Estt/CA/Emp/2018/447 - (25/11/2018) - Official Liquidator attached to the Hon'ble High Court of Delhi, invite Bio Data / Application from the eligible Chartered Accountants or firms of Chartered Accountants, who are enrolled as Members of the Institute of Chartered Accountants of India and are in active practice for the last 05 years an...

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Chartered Accountants (Election to the Council) Rules, 2006

G.S.R. 534(E) - (05/09/2006) - The Election to the ICAI Council shall be held on a date or dates to be determined by the Council, which shall, in any case, not be less than one month before the expiry of the term of the existing Council:...

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Chartered Accountants (Election to the Council) Amendment Rules, 2018

Notification No. G.S.R. 796(E) - (23/08/2018) - G.S.R. 796(E). Central Government hereby makes following rules further to amend Chartered Accountants (Election to the Council) Rules, 2006 namely Chartered Accountants (Election to the Council) Amendment Rules, 2018....

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Recent Posts in "CA, CS, CMA"

Revenue recognition under IND-AS & IFRS – Comparative overview

Revenue recognition under IND-AS & IFRS – Comparative overview- Article discusses Applicability of IFRS-15 and IAS-115 and further discusses the following- Revenue recognition steps- 5 steps model Step: 1  Identify the contract(s) with a customer Step: 2 Identify the performance obligations in the contract Step: 3 Determine the tra...

Read More
Posted Under: CA, CS, CMA |

ICAI Election: Complete ban on canvassing on days of polling

ANNOUNCEMENT 7th December, 2018 Sub.: Complete ban on canvassing on days of polling Candidates and their supporters may kindly note that Election Code of Conduct continues to be in force on the days of polling and the same will come to an end only upon declaration of results of elections. Further, the Election Code imposes […]...

Read More
Posted Under: CA, CS, CMA |

Bitter But Real Side of ICAI Elections

The wait is all over. The day has come. Election Day! A Big day! But have you ever tried to notice a big day for whom?? For Profession at large or a big day for prospective candidate alone. What are you voting for? Who are you voting to? You think you seriously know about the […]...

Read More
Posted Under: CA, CS, CMA |

Do’s and Dont’s for ICAI Election candidates

As members are aware, the triennial elections to the twenty fourth Council and twenty third Regional Councils are scheduled to be held on 7th and 8th December, 2018 in cities having more than 2500 voters and on 8th December, 2018 in other cities....

Read More
Posted Under: CA, CS, CMA |

Exposure Drafts of Guidance Note on Audit of Banks 2019 Edition

This year also, the Board is in the process of bringing out the Guidance Note on Audit of Banks 2019 edition. It may be noted that this year, the Guidance Note has been divided into 3 separate Guidance Notes dealing with (1) Statutory Central Audit, (2) Foreign Exchange Transactions and Integrated Treasury, and (3) Bank Branch Audit other...

Read More
Posted Under: CA, CS, CMA |

Guide to Standard on Auditing (SA) 230, Audit Documentation

Implementation Guide to Standard on Auditing (SA) 230, Audit Documentation (Revised 2018) The Institute of Chartered Accountants of India  (Set up by an Act of Parliament) New Delhi  Foreword Standards on Auditing are critical in ensuring and enhancing quality in audits of financial statements. It is therefore necessary that the auditor...

Read More
Posted Under: CA, CS, CMA |

ICAI demands apology from ET for publishing alleged derogatory article

Please refer to the article titled ICAI is dead. How a ministry report put the final nail in the coffin written by N Sundaresha Subramanian and Muskan Khan and published in the ET Prime dated 22nd November, 2018...

Read More
Posted Under: CA, CS, CMA |

ICAI Election: Manner of writing Arabic numerals in ballot paper

Queries are being received from members as to the manner in which the numeral 1 is required to be written while marking preference in the ballot papers....

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Posted Under: CA, CS, CMA |

Empanelment for Concurrent Audit of operations of IFV, SIDBI

Small Industries Development Bank of India Request for Proposal (RFP) For Concurrent Audit of Operations of Institutional Finance Vertical (IFV), SIDBI...

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Posted Under: CA, CS, CMA |

Standard on Auditing for Audits of Smaller & Less Complex Entities (SASE) 200

Exposure Draft of Standard on Auditing for Audits of Smaller and Less Complex Entities (SASE) 200- Last date for comments: January 17, 2019- Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing for Audits of Smaller and Less Complex Entities...

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Posted Under: CA, CS, CMA |

Latest ICAI , ICSI, CMA News

Chartered Accountants or Company Secretaries , Cost Accountants are a group of extraordinary people. Wherever they go, they bring difference. They’re talented, ambitious and are in demand. If you are thinking about a career which offers respect, prestige, great financial rewards, and better prospects becoming a Chartered Accountant, Cost Accountnat  or a Company Secretary is a perfect way to start. For becoming a CA, CMA or a CS you need to qualify the CA exam, CMA exam and the CS exam respectively. The CA, CMA and CS qualifications are exceptional prestigious and internationally respected which would offer you the skills, knowledge, and values to be a sought after business professional. The CA, CMA and CS qualifications comprises of relevant professional study and practical experience.

The ICAI (Institute of Chartered Accountants of India) is the empowering body for Chartered Accountants in India, The ICAI (The Institute of Chartered Accountants of India )  for Cost Accountantgs in India and the ICSI (Institute of Companies Secretaries of India) is the regulating body of Company Secretaries in India.

At Taxguru, we provide you with all the latest updates and announcement with respect to CA exam, CMA Exam and CS exam. Find all the latest news on ICAI and all the relevant updates related to CPT exam, IPCC and Finals. Get to know what’s new and what trending in the world of CS, CMA with all the latest news on ICSI, CMA here at Taxguru.

At Taxguru, we publish blogs and articles at regular intervals for the enlightenment of our readers who are pursuing CA, CMA or CS or have completed the esteemed professional course. We ensure that we bring you all the latest insights and guidance in your journey towards your goal to achieve success in CA, CMA and CS exams. We keep you posted on all important and significant ICAI news and ICSI news and ensure to keep updated with the trending information from the world of these profound professions.

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