CA IPC Passing Percentage Analysis

November 2012

Group 1 - Appeared 1,00,494 - Passed 25,269 - Pass - 25.14%
Group 2 - Appeared 96,181 - Passed 20,326 - Pass - 21.13%
Both Group - Appeared 51,318 - Passed 5,720 - Pass - 11.15%

May 2012

Group 1 - Appeared 95,404 - Passed 28,903 - Pass - 30.30%
Group 2 - Appeared 83,239 - Passed 22,123 - Pass - 26.58%
Both Group - Appeared 46,493 - Passed 9,015 - Pass - 19.39%

November 2011

Group 1 - Appeared 92,908 - Passed 33,109 - Pass - 35.64%
Group 2 - Appeared 70,259 - Passed 20,511 - Pass - 29.19%
Both Group - Appeared 43,206 - Passed 7,422 - Pass - 17.18%

May 2011

Group 1 - Appeared 89,346 - Passed 29,708 - Pass - 32.55%
Group 2 - Appeared 51,836 - Passed 14,975 - Pass - 28.89%
Both Group - Appeared 38,446 - Passed 7,933 - Pass - 20.63%

November 2010

Group 1 - Appeared 82,005 - Passed 17,863 - Pass - 21.78%
Group 2 - Appeared 39,567 - Passed 12,220 - Pass - 30.88%
Both Group - Appeared 31,547 - Passed 5,688 - Pass - 18.03%

May 2010

Group 1 - Appeared 52,923 - Passed 8,730 - Pass percentage - 16.49%
Group 2 - Appeared 22,416 - Passed 3,804 - Pass Percentage - 16.97%
Both Group - Appeared 20,135 - Passed 2,473 - Pass Percentage - 12.28%

Rohit Jain
frohit@live.in

Accounting Standards: A Brief Intro

Meaning

Accounting Standards are written documents

Issued by

Expert Accounting Body, Government or Other Regulatory Bodies

Covering the aspects of

Recognition, Measurement, Treatment, Presentation and Disclosure

Of Accounting Transaction

In the Financial Statements

Objectives of Accounting Standards 

1. To eliminate non - comparability of Financial Statements to the extent possible.

2. To standardize the diverse Accounting Policies and Practices.

3. To add the reliability to the Financial Statements.

Role of Various Departments

Formulated by                         Accounting Standard Board of ICAI

Notified by                              Ministry of Corporate Affairs

In Consultation with                National Advisory Committee on Accounting Standards

Advantages of AS

Understandability

The accounting standards formulated by the ASB represent the required processes for businesses to follow. Financial statement users expect companies to follow the published accounting standards when creating financial statements. The users interpret the financial statements of different companies using the same assumptions. Once the users understand these assumptions, they use this knowledge when reading any financial statement.

Guidance

When financial reporting issues arise, the accountant may refer to the published accounting standard to determine how to record the event. This process allows the accountant to trust that the guidance provided through the accounting standard passed the rigorous process of ensuring that it meets everyone's needs.

Disadvantages of AS

Inflexible Framework

A disadvantage of using accounting standards involves the inflexible framework the accountant must comply with. Each company faces different experiences. The accountant must make the company's unique experiences fit into the guidelines of the published accounting standards.

Cost to Comply

New accounting standards require the company to consider the requirements of the standard, what actions the company must take to implement the standard and what the cost will be. In many cases, the company must design new procedures, which requires a large financial investment that includes employee labour costs, system upgrades and employee training.

Existing Accounting Standards and Indian Accounting Standards

Now India will have two sets of accounting standards viz. existing accounting standards under Companies (Accounting Standard) Rules, 2006 andIFRS/ IAS converged Indian Accounting Standards (Ind AS).

There are 36 Ind AS hosted by MCA on its website. The date on which these will come into force is yet to be notified.

Rohit Jain

frohit@live.in