Following are the extract of amendments applicable for PCC November, 2012 Examination.
5) Maintenance of Cash Reserve Ratio (CRR) at 4.75 per cent.
6) Amendment to Para 46 of AS-11 of the Companies (Accounting Standards) Rules, 2006: The option for capitalisation of exchange differences arising on reporting of long term foreign currency monetary items has been extended by MCA (amending the Para 46 of AS-11) till 31st March 2020 instead of 31st March 2012.
7) Insertion of Para 46A in AS 11 of the Companies (Accounting Standards) Rules, 2006.
B) The Companies Bill, 2011: Not Applicable.
Note that the Study Material should be based on the law as amended by the Finance Act, 2011 as well as the significant notifications and circulars issued up to 30th April, 2011.
2) Point of Taxation Rules, 2011 as covered in the Study Material will apply for November, 2012 examinations.
2) Supplementary Study Paper – 2011 for PCC/IPCC, which explains the amendments made by the Finance Act, 2011 and important notifications/circulars issued between 1.5.2010 and 30.4.2011.