Adsense

Tuesday, 27 May 2014

CA FINAL BOTH GROUPS IMPORTANT TOPIC WITH STUDYING TIPS

1) Financial Reporting:
For the important chapters for Financial Reporting for CA
Final May 2014 examination, consider following in tips:
I divide this subject in 5 parts:
1) AS.
2) Miscellaneous chapters.
3) Consolidated a/c.
4) Amalgamation.
5) Valuation.
a. AS in general are asked around 20 to 40 marks so must
not ignore that. They are sometimes copied from modules
and PM
b. You can refer any good reference book. Which I
personally feel every CA should refer, as they are
fundamental matters. WE CA s are recognized by AS. (I
referred RAWAT SIR’s)
c. Refer past papers and find out patterns. If I point out
many AS Like 15 16 20 22 30 31 32 are in category of FAQ
(these are just e.g.)
d. Miscellaneous chapters are not at all misc in
importance. They are asked of 16 to 24 marks and beauty
is they are far easier and less complicated in nature. Must
not ignore them. E.g. Nov 11 paper.
e. As for last 3 parts I am sure all of us do so much
practice that sometimes we can even solve that entire sum
without question in our sleep.

2) Strategic Financial Management:
I divide it in 3 parts (module chap no)
1) Theory( chap: all chapter module theory especially
1,8,10,11) .
2) Chap 3,4,6,7,9,13.
3) Chap 2,5,12.
i. Theory is always good scorer as being in practical paper.
ii. For the above practical chapters I’ll definitely say make
concrete base of concepts and you’ll crack the paper.
iii. AS I’ve seen the area which is most twisted in paper
comes generally from chapter 2, 5,12,7. Brush up time
value of money as it comes everywhere.
3) Audit:
I divide this subject
1) Professional Ethics.
2) Co. Audit.
3) SA.
4) Others.
a. For professional ethics I would only say mug up the
clauses line by line. As it’s our act the language must be
same.
b. Paper presentation plays important part. Must underline
all the clauses sections and SAs and have a neat
presentation.
c. Many case studies in areas of Co Audit and Professional
Ethics are repeatedly asked so do refer all the material of
institute.
d. MUST DO SAs…cause as accounting standards SA are
also most important part of our study. Don’t forget to
compress your material. (i.e. determine what to do at last
day so you can gain confidence of reading it all)
4) Law
I divide this subject
I) Company ACT.
II) Allied laws.
a. Personal advice: Munish Bhandari.
b. Don’t ignore 30 marks portion of allied laws. It’s of same
importance too.
c. Cross out repeated asked cases in Bhandari so you’ll
have less burden at last moment.
d. Read the analysis given for each topic. You’ll come to
know the weight of topic.
e. Must compress material for last day. Or you’ll be lost in
what to do and what not to do.
5) Costing QT:
Must do conceptually .
I divide this subject
Costing:
1) Standard costing.
2) Budgeting and other material related topics
( ABC,JIT).
3) Decision making chapters.
a. In costing all sum are of different type. (especially
decision making sums)
b. Be ready to read long description with lot of accuracy.
c. Checking the solved part of question and underlining the
figures will be of immense help.
d. In Qt there’s trend of asking “ulta” question which are
always easy but due to lack of practice we get scare and
not even attempt that some time. But if you are to solve
that at home you’ll find it too easy. So never freak out
when such questions are there in exam.
e. Theory is always of 33 to 40 marks having very less to
read as compare to those long questions.
f. Be ready for any kind of questions. Nov 11 final exam
question is classic example of conceptual question where
transfer pricing and other many questions were of
concepts and not of numerical.
6) ISCA
For the important chapters for ISCA for CA final November
2012 examination, consider the following tips:
I divide this subject
1) Chapter 6,7,8,9.
2) Chapter 2,10.
3) Chapter 3.
4) chapter 1,4,5.
a. Must refer module only for reading this subject. Also
write same language.
b. Have habit of reading ISCA theory in question answer
format like that given in PM. Cause most common problem
that I’ve heard is “Yaar sub kuch pada tha but question
samaj me nai aya to answer kaise likhe.” So to answer
best have a habit of reading in such format.
7) DT
Important Chapters for Direct Tax CA Final November
2012 examination:-
1) Wealth tax.
2) Assessment of different assesses.
3) 5 heads of income.
4) NR taxation.
5) Assessment procedure.
6) Other chapters.
a. Must do wealth tax, with assessment theory and in
depth. They might not ask full sum instead in past 2 years
they asked small questions.
b. The syllabus in 99% case never going to be completed if
you are giving ISCA and having only 1 holiday so must plan
LMR on hour by hour basis. And even if you can’t
complete whole syllabus no need to freak out cause
everybody is in same boat.
c. Do refer institute case laws as they are often asked same
to same
d. Amendments are “must do” thing.
8) IDT
Personal advice: Bangar
a. Must do amendments.
b. Must do institute’s case laws(asked of 16 marks almost
every time).
c. In case laws it’s not necessary to remember assessee
name but if you want to you can do this, read whole case
and wherever assessee comes replace it with the name. in
this way you’ll remember it.
d. In practices do not forget to write notes.
e. Do refer practice manual. Cause many things are asked
from that.