Ca final passing and studying technique from a qualified ca experience

so for all who are appearing in this attempt
my suggestions for preparing Individual subjects of
CA Final : -
Personal Experience (CA Qualified First Attempt) :-
1. ISCA : please follow study material strictly. You can
refer Dinesh Madaan for understanding of concepts.
But your ultimate focus should be on study material.
ISCA is one of the subject which can be a trump card
for not passing second group. I know one of my EY
Intern who wrote exams in Nov'13 and got
exemption in all the 7 papers but got 22 in ISCA.
Could you believe this.!! Had he got even 40 marks in
ISCA, he would have been among the top 10
Now the problem which arises is no matter how
many times you study this subject, you will not be
able to recollect it. I also felt the same and I feel that
the best technique is to make acronyms and your
own codes
For example, there are four types of audit tools and
techniques for disaster recovery procedures and the
code to learn that is I-PAD, i.e., Internal Control
Auditing, Penetration Testing, Automated tools and
Disaster Security Checklists.
My Marks in ISCA : 50
I would suggest that first do everything except
holding accounts. I have seen my friends taking
tension over holding company which carries only 16
marks weightage and that too even when you have
an option in the paper. Believe me, think of FR
without holding company and you will not feel
burdened by this subject. I personally left Holding
company accounts but if you have time , study atleast
the basic adjustments so that you are able to get
marks for steps in case the other option is altogether
At last time, do question only from practice manuals.
There are also several questions in the institute FR
books. You have to do them at all costs.
My marks in FR- 68
3. SFM :
Study from your coaching notes from whomsoever
teacher you have taken tutions. Main Focus should be
Derivatives , Forex , Portfolio management. If you
have time go through the theory part as well.
My marks in SFM : 58
4.Advanced auditing and Professional Ethics :
For audit I would say refer Surbhi Bansal notes and
focus on SA/Professional ethics/Bank Audit/
Insurance and EDP Audit.
Need not to worry if your command in SA's are not
perfect , believe me no one is perfect in SA. It's just
like how far you have understood the concept try to
pick the main and technical phrases of SA. Rest You
can apply mind in case study and also , go through
all the accounting standards while preparing auditing
as institute generally ask case study from this portion.
My marks in Auditing : 52
5. Corporate and allied Laws :
I feel all those giving exams in May 14 are lucky that
Companies Bill is not applicable and should target
exemption in law so that even if anything goes wrong,
they do not have to study an altogether new law in
their next attempt which is sure to add to the
pressure... Munish bhandari handbook is ideal for
law. Corporate law carries 70 marks weightage and is
easier to remember than allied laws. There are around
6-7 allied laws and they carry only 30 marks. So first
secure your 70 marks and then only start studying
allied laws as they are gonna be more time consuming
and difficult to remember than the Companies law.
My marks in Corporate ans allied laws : 64
6. Advanced Management Accounting :
I would say first cover the OR portion as it is easy
and the questions types are limited as compared to
costing. Theory is also an important part , theory will
not be asked directly but the examiner gave practical
situations in which ultimately if you knew the
concept, you will find it comfortable to handle. The
theory notes available in the market and of teachers
mostly contain past year questions. Hence, you need
to refer institute book to make sure you have covered
all the topics. In May 2013, there was a question on
DPP (Direct Product Profitability) which was not
covered in any book but there was a 2 pages content
on the same in the institute book.
My marks in Advanced Management Accounting : 53
7. Direct Taxes :
For DT, VG summary module should be studied
completely. I think
the summary module is very handy even a day before
the exams.
Amendments and recent case laws form an important
chunk of the taxation papers
Most Important : Case laws with name of case law ,
Generally students skip the name of case law , which i
would say you must try to quote the case law as this
will impact the whole marking of your paper whether
its a practical question or theory based.
then comes whether we should remember the Section
no. or not?
Generally , you should remember all the relevant
sections of DT Modules but if not possible (I can
understand syllabus is too heavy) atleast remember
sections of recent amendments and sections on
which recent case laws are based.
My marks in Direct Taxes : 65
8. Indirect Taxes :
Refer Rajkumar book or other teacher's books from
whom you are taking tutions.
Personal sugesstions one day before exam:
>Pick excise module at the last once you done with
the customs , Service tax and VAT
Go through case laws as they carries at least 30 Marks
(*Vimp) again i will say name of case laws. daily go
through them just for 20 days (half an hour)
My marks in Indirect Taxes : 64


Law Exam Paper Tips for CS / CA IPCC

1. In practical problems never start your answer with Yes or No unless you are 100% sure. First mention the relevant provision and show in your answer how you reach the conclusion. In the end conclude your answer in the following manner: “On the basis of above discussion we can conclude that as per the Section-166 Annual General Meeting can not be convened on a public holiday.” (Consider this as an example). On the contrary if you are 100% sure from the very beginning always start your answer with Yes or No. Like in the above problem it is very much sure that AGM can not be held on a public holiday. 2. Try and always mention the relevant section. Make it a habit. Do not ask anybody regarding the importance of remembering a section. If you make it a habit now it will 100% pay at the time of your final preparation. 3. In distinctive question never segregate 2 provisions with the help of a line. For example: Distinguish between Fixed and Floating Charge Mention the distinction in the following way: (i) Fixed charge is created in the specific property on the other hand floating charge is created on the class of property. (ii) Fixed charge clutch the property whereas floating charge floats over the property. Conclusion: You should use “on the other hand” OR “whereas” to club two different provisions. 4. You may underline the relevant provision or any substantial provision. 5. In theory paper never read practical problems first. First attempt flat questions. Like in Audit or Law first attempt short notes or distinctions etc. Reason for not attempting the practical problems first is that in the beginning you have enough time to read it twice or thrice and waste your time. 6. If you mention any case law highlight it properly. Write it in the following way: Mohan Singh Rawat Vs. State Electricity Board 7. In distinction problems first write something (2-3 lines) about the topic. Example: Like in the distinction between Interim and Final Dividend write some about Interim and Final Dividend and mention in the end: “hence the points of distinction between Interim and Final Dividend are as follows” 8. In exam never use short forms like AGM, EGM, CG, CLB, ROC, ICSI, ICAI, SAP, AS. Etc. 9. When you start your answer by using a section use like this: “As per Section-171 of the Companies Act, 1956” 10. Try and make an effort to complete your paper 100%. In other words attempt full paper of 100 marks. This is very important for fetching more marks. 11. Try and avoid cutting of words. (See the example below) Whenever a company fails to file the annual accounts and annual returns, desc -ribed in sub-clause (A) of clause (g) of sub-section (1) of section 274, persons who are directors on the last due date for filing the annual accounts and the annual returns for any continuous three financial years commencing on and after the first day of April, 1999, shall be disqualified. Observe the first line of the Para above and see the word described. Half the word is in first line and half is in second line. This is some thing very poor as far as professional exams are concerned. So avoid it.



Himanshu purohit

Ca final auditing ethics mnemonics for easy learning

For Ca final student...
Code of ethics ke be code no. He
Eg. Nana patekar ask partner shilpa shety about CA prospector being in south.
Ye sentense yaad kar lo
Then first shedule ka first part ka 12 clause yaad ho jayega
1. Nana  = name
2. Patekar = pay
3. Ask = accept
4. Partner = partnership
5. Shilpa = securing
6. Shety = solicitng client
7. About = advertisement
8. C = communication
9. A = appointment
10. Prospectus = profit in % of sale
11. Being in = bussiness
12. South= sign


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
b. Paper presentation plays important part. Must underline
all the clauses sections and SAs and have a neat
c. Many case studies in areas of Co Audit and Professional
Ethics are repeatedly asked so do refer all the material of
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
1) Standard costing.
2) Budgeting and other material related topics
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.
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.


IPCC Important Questions May 2014
Some important questions/topics for CA IPCC which you
should not miss to prepare for IPCC May 2014 exam. These
are very important for IPCC May 2014. These are provided
by Yogesh Gupta.
(Don’t leave these Chapters & topics at any Cost)
*Group 1
-Avg. due date(4)
-Amalgamation/Internal Reconstruction (16)
-Hire Purchase(8)
-Cash flow(16)
-Single entry(16)
-Imp. AS(revenue recog.,contract
,dep.,fixed asset)
*Law,ethics n comm.
-last 3 chptrs of Indian Contract
Act,combined (10)
-Share Capital,General Meeting
-t/f transmission of shares Membership
-Share allotment,prospectus n MOA yg
-ethics(full,dnt leave anythn)
-comm.(deeds r vry imp.) n comm.
theory,rest of d chptrs
*Cost Accounting & FM
-Contract Costing,Material
-Labour,Overhead,Process Costing
-Capital budgeting,leaverage
-Working Capital,Receivable Mgt.
Cost of Capital,Ratios
-Salary(RFA,HRA,gratuity,pension,leave salary…motor car
facility n few more perquisites,all allowances r imp. shudnt
b ignored) yg
-Business proff.(thz sec r d most imp. viz sec
32,40A2,40A3,43B n topics lyk deduction in case of
scientific research,writing off of preliminary exp.,ques
related with book profits n cash payments in excess of
20,000 n payments tht can b made n claimed till ROI filing
date ie d above sections mentioned)…dnt leave ths chptr
FCAs plz,it’s coming of 16 marks since May’10 in evry
-Capital gains(exemption related
sections,forfeiture sec 51, conversion of capital in2 stock
n sec 47)
-Clubbing,other sources
*Service tax n VAT(fully) dnt leave
anythn,r SCORING
-Amalgamation/Internal Reconstruction (16)
-Branch A/c,liquidation,ba
nking,insurance …all may come of 8 marks each
-Underwriting,departmental(5 each)
-imp. AS(borrowing cost,govt.
-debenture chptr(16)
-Co. audit 1 n 2
-Spcl. Audit
-EDP,govt. audit,Caro
-200 300 500 series SAs r imp.
(almost carry 40 marks weightage)
*SM (full)
So, dont miss this important t

CS Executive Important Questions

Suggestions for General and Commercial Laws:-

Chapter 1 – Constitution of India
-Concept of State
-Federal nature of the Constitution
-Fundamental duties
-Difference between directive principles and
fundamental rights
-Doctrine of eclipse and doctrine of pith and substance
-Ordinance making powers of the President
-Article 21 of the Indian Constitution
-Can Parliament enact laws on items in the State List?
-Writ jurisdiction of Courts and different types of
Chapter 2 – Interpretation of Statutes
-Short Note on Rule of ejusdem generis and the rule of
literal construction
-Internal Aids for interpretation
-Short note on Noscitur a sociis Pari Materia
-Discuss the rule of reasonable construction
-Short notes on Heading, Title and Preamble
Chapter 3 -Law relating to Specific Relief, Arbitration
and Conciliation, Torts and Limitation & Evidence
-Persons against whom specific performance
enforceable and not enforceable
-Short note on declaratory decrees
-Contracts which cannot be specifically enforceable
-Short note on International Commercial Arbitration
-Appointment of Arbitrators
-Provisions for setting aside the arbitral award
-Kinds of Tortious liability
-Law of Limitation bars the remedy but does not
extinguish the right – Comment
-Facts of which evidence need not be given
-Short note on Dying Declarations
-When do the statements under special circumstances
become relevant ?
Chapter 4 – Law relating to transfer of property
-Transfer for the benefit of unborn person
-Doctrine of fraudulent transfer
-Types of mortgage
-Short note on Doctrine of Election
-Distinguish between mortgage and charge
-Doctrine of Lis Pendens
-Doctrine of part performance of contracts
Chapter 5 – Law relating to stamps
-Different methods of stamping
-Time of stamping documents
-Consequences of unstamping of documents
-Short note on Denoting Duty
Chapter 6 – Law relating to registration of documents
-Registration of wills
-Time for registration of documents
-Effects of non-registration
-Documents whose registration is compulsory and
registration is optional
Chapter 7 – Information Technology – an overview
-Concept of Digital Signature
-Legal recognition of electronic records
-Certifying Authorities
-Domain names & hacking
-Difference between computer and computer network
Chapters 8 & 9 – Code of Civil and Criminal Procedure
-Re judicata and Res subjudice
-Place of suing
-Distinguish between judgment, decree and order
-Distinguish between reference, review and revision
-Distinguish between investigation, inquiry and trial
-Powers of the police officer to arrest without warrant
-Short note on power of Magistrate in case of
apprehended danger
Chapter 10 – Law relating to RTI
-Duties of a PIO
-The categories of information exempted from the
requirement of the RTI Act
-Manner in which request can be made by a citizen for
information under the RTI Act
CS Executive Important Questions
Suggestions for Company Law
Chapters 1 – 5 – Company Incorporation etc.
-Distinguish between company and partnership
-Lifting of Corporate Veil
-Concept of company as a citizen
-Short note on illegal association
-Legal position of promoters
-Various clauses of MOA and AOA and their alteration
-Doctrine of Ultra Vires
-Statutory Corporations as State within the meaning of
Article 12 of the Indian Constitution
-Pre-incorporation contracts vs. Provisional Contracts
Chapters 6 – 11 – Financial Structure
-Conclusiveness of Certificate of Incorporation
-Issue of shares at premium
-Liability for misstatement in a prospectus
-Issue of shares on rights basis and bonus shares
-Does forfeiture amounts to reduction of capital
-Buy back of shares
-Registration of charges
-Short note on debentures and sweat equity shares
-Forfeiture of shares and surrender of shares
-Voting rights on preference shares
Chapters 12 – 13 Membership, depositories and
transfer / transmission
-Modes of acquiring membership
-Expulsion of a member
-Rights of joint members
-Transmission of shares and Nomination of shares
Chapter 14 – 18 – Management and Control of
-Resignation of directors
-Appointment of additional directors and directors
appointed to fill casual vacancy
-Office or place of profit
-Liability of Non-Executive Directors
-Appointment of director by small shareholders
-Disqualifications of directors
-Powers which the BOD may exercise only with the
approval of shareholders
-Disclosure of interest by directors
-Officer in default
-Appointment of Managing Director
-Role of a company secretary
-Short note on AGM
-Duties and role of Chairman
-Methods of ascertaining sense of the meeting
-Proxy in general meetings
-Passing of resolutions by way of postal ballot
-Conduct of Board and General Meetings through
Chapter 19 – Investments and Loans
-Investments to be held in company’s name
-Inter-corporate loans and investments
Chapter 20 – Deposits
-Small depositors
-Advertisement for raising deposits
Chapter 21 – Accounts and Audit
-Director’s responsibility statement
-What are the various methods of appointing auditor in
a company ?
-Attachment of subsidiary accounts to the holding
-Liabilities of an auditor
-Short note on Director’s Report and Audit Committee
Chapter 22 -Dividend
-Transfers of profits to reserves before declaration of
-Short note on interim dividend
-Investor Education and Protection Fund
Chapters 23 – 24 – Sole selling agent, accounts etc.
-Attachment of accounts of subsidiary companies with
the accounts of the holding company
-Disclosures in the Director’s report pursuant to the
listing agreement
Chapter 25 – 28 – Oppression and Mismanagement
-Statutory registers of a company
-Investigation into the affairs of a company
-Rule of Foss vs. Harbottle and its exceptions
-Compromise and Arrangements
Other Chapters –
-Law relating to trusts and societies
-Concept of producer company
-Short note on LLP
-Short note on winding up of a company
-Powers of a court to wind up a company
-Short Note on DIN
-Short notes on Back offices, front offices etc.
CS Executive Important Questions
Suggestions for Economic and Labour Laws
Chapter 1 – IDRA
-Industrial Licence
-Industrial Entrepreneur’s Memorandum
-COB Licence
-Calculation of value of plant and machinery
-MSMED Act, 2006
Chapter 2 – Foreign Trade Policy and Procedures
-Special Economic Zones
-IEC Code
-Vishesh Krishi and Gram Udyog Yojana
-Focus Product and Focus Market Scheme
Chapters 3 – 6 – Trade, Competition and Consumer
-Regulation of Combinations in detail
-Predatory Pricing and Bid Rigging
-Abuse of Dominant position
-Short note on Competition Commission of India
-Redressal Machinery under the Act
-Definition of Consumer
-Case laws on deficiency of service
-Other case laws given in the class
Chapters 7 & 8 – Essential Commodities and Standard
Weights and Measures
-Powers of the CG under the Essential Commodities Act
-Definition of Essential Commodities
-Concept of seizure and confiscation of essential
-Declaration to be made on standard packages
-Maximum permissible error
-Short note on Principal Display Panel
Chapter 9 and 10 – FEMA & FCRA
-Short note on permissible capital and current account
-Raising of funds through ADRs and GDRs
-Direct Investment in a JV / Wholly owned subsidiary
outside India
-Establishment of branch, project and liaison offices
-Concept of Authorised person
-Restrictions on acceptance of foreign contributions by
certain associations
-Restrictions on acceptance of foreign hospitality
Chapters 11 & 12 – Pollution Laws
-Concept of Sustainable development
-Short note on Public Liability Insurance Act, 1991
-Short note on Pollution Control Boards
-Power of Central Government relating to entry,
inspection and take samples etc.
-Short note on environmental clearances
-Short note on the case MC Mehta vs. Union of India
-Short note on Noise pollution
-National Green Tribunal Act
Chapter 13 – Intellectual property rights
-Contents of complete specification
-Restoration of lapsed patents
-Grant of Compulsory licences in connection with IPRs
-Concept of new inventions and patentable inventions
-Removal of trademark for non-use
-Short note on Collective Marks
-Short note on assignment of copyrights
Chapter 14 – Prevention of Money Laundering
-What is money laundering ?
-Short note on Financial Action Task Force
Chapter 15 – Minimum Wages Act, 1948
-Mandatory payment of minimum wages to the
Chapters 16 – 17 – Payment of Bonus and Gratuity
-Short notes on amount of gratuity payable to a
-Rights and obligations of employers w.r.t to payment
of gratuity
-Computation of bonus payable to the workers
-Payment of Customary or interim bonus to the
-Can gratuity payable to workers be attached by a
decree of Court ?
Chapters 18 – 19 – Provident Fund and ESI Act
-Short note on Employees’ Provident Fund Scheme
-What do you mean by Employees Deposit Linked
Insurance Scheme
-Short note on Employees’ State Insurance
-What do you mean by employment injury under the
Chapters – 20 – 21 – Employees’ Compensation and
Contract Labour
-Employer’s liability for payment of compensation to
workers when contractor is engaged
-Distinguish between partial disablement and total
-Prohibition of employment of contract labour
-Welfare and health of contract labour
Chapter 22 – Industrial Disputes Act
-Unfair Labour Practices
-Reference of industrial disputes through arbitration
-Distinguish between lay off and lock out
-Whether individual dispute can be said to be industrial
dispute ?
-Discuss the various types of strikes
-Wages for the strike period
Chapter 23 – 24 –Standing Orders and Factories Act
-Payment of subsistence allowance
-Matters to be provided in the standing orders
-Annual leave with wages
-Definition of factory
-What do you mean by manufacturing process ?
-Who can be appointed as Occupier of factories ?
CS Executive Important Questions
Suggestions for Securities Laws and Compliances
Chapter 1 & 2 – Securities Market
-Powers and Role of SEBI
-Relation between securities market and economic
-Composition of SEBI and SAT
Chapters 3 & 4 – Money Market & Capital Market
-Distinguish between Commercial Paper and Certificate
of Deposit
-Money market mutual funds
-Short notes on tracking stocks and disaster bonds
-What do mean by participatory notes ?
-Short notes on ETFs, Hedge Funds & Fund of Funds
-Short note on Secured premium notes and derivatives
-Different kinds of bonds
Chapter 5 – Credit Rating
-Standard rating symbols
-Short note on rating process
-Factors considered by rating agencies for rating
Chapter 6 – Capital Market Intermediaries
-Short note on Merchant Bankers, RTAs and SROs
-Obligations of Stock brokers and sub brokers
-Obligations of the intermediaries under the
of M L d i A Money Laundering Act
-Obligations of underwriters and portfolio managers
Chapters 7 & 8 – Stock Exchanges
-Recognition of Stock Exchanges
-Application for listing of securities to SEs
-Demutualisation of Stock Exchanges
-Trading & Settlement Mechanism and STP
-Market abuse mechanisms
-Obligations under Cl. 49 of Listing Agreement
Chapter 9 – Mutual Funds
-Different types of Mutual funds
-Short note on Asset Management Company
-Advertisement Code of Mutual Funds
Chapters 10 & 11 – Venture Capital and Collective
Investment Scheme
-Short notes on Foreign Venture capital investors
-Short note on Collective Investment Scheme
Chapter 12 – Buy Back of Securities
-Securities not available for buy back
-Buy back of shares from non-resident shareholders
-Buy back through book building process
Chapter 13 – Depositories
-Benefits of the depository system
-Internal audit of operations of depository participants
-Rights and obligations of the depository participants
Chapter 14 – Public Issue of Securities
-Green Shoe Option
-Different types of book building processes
-Short note on Employee Stock Option Scheme
-Short note on reservation on competitive basis
-Short note on Fast Track Issues
-Requirements of preferential allotment
Chapter 15 – Debt Market
-Various types of debt market instruments
-Debt market intermediaries
-Short note on listing of debt securities
Chapters 16 – 18 – International Capital Market and
Investor Protection
-Short note on FCCBs and ECBs
-Short notes on Road shows
-Procedure for making issue of IDRs
-Legal framework for investor protection in India
-Who is an Ombudsman?
Tip :  Practicing at-least one problem per one new
question is definitely useful for you .
That’s it.
All the Best friends..!

Himanshu purohit

Important Chapters n Theory Questions For Cs Executive June 14 Exams CMA paper

Cost & Management Accounting PAPER 2 (New)
PAPER 2 (Old)
A indicates more important and C indicates
less important.
- Contract Costing.
- Marginal Costing.
- Process Costing.
- Joint and By Product.
- Reconciliation of Cost and Financial Accounts.
- Standard Costing.
- Overheads
A - Budgeting Control.
- Direct Material.
- Operating Costing (Service Costing).
- General Principles (Theory).
- Overheads Theory.
- Integral and Non-Integral Accounts.
- Job and Batch Costing.
- Direct Labour & Direct Expenses.
Cost Accounting Important Questions
1. Basic Concepts
1. Write short notes on any two of the
(i) Conversion cost (ii) Sunk cost (iii)
Opportunity cost.
2. What is meant by cost centre?
3. What is difference between controllable &
uncontrollable cost?
4. What is difference between Explicit &
5. What are the main objectives of Cost
6. Discuss the four different methods of
7. What is difference between Marginal &
Differential costing?
8. What is meant by Profit centre?
9. What is meant by Cost Driver?
10. What are items need to be excluded from
cost records?
11. What are Product & Period costs?
12. What are Avoidable & Unavoidable cost?
13. What are methods of costing?
14. What are techniques of costing?
15. What is ABC costing?
2. Material
1. What is difference between Bin Card and
Store Ledger?
2. Explain the concept of "ABC Analysis".
3. Describe perpetual inventory records and
continuous stock taking.
4. Treatment of shortage in stock taking.
5. What do you mean by Purchase Requisition
and Material Requisition?
6. What do you mean by Bill of Material?
7. What do you mean by Input-Output Ratio?
8. Discuss the accounting treatment of Scrap,
waste, defective and spoilage?
3. Labour
1. Discuss the three methods of calculating
labour turnover.
2. Discuss the accounting treatment of idle
and overtime wages.
3. Distinguish between Job evaluation and
4. What do you mean by time and motion
5. What is Casual and Outworker?
4. Overhead
1. What is Single (blanket) and Multiple
overhead rate?
2. Discuss the treatment of under absorbed
over absorbed factory overheads in cost
3. What is difference between Cost Allocation,
Cost Apportionment & Cost Absorption?
4. What are the classifications of overheads?
5. Other Topics
1. What are the reasons for disagreement of
profits as per cost accounts and financial
2. Distinguish between Job costing and Batch
3. Distinguish between Job costing and Process
4. Write a short note on Cost plus contracts.
5. Write a short note on Escalation clause.
6. Discuss the process of estimating profit/loss
in incomplete contracts.
7. Explain equivalent units.
8. Distinguish between Joint product and By-
9. Discuss the treatment of by-product cost in
cost accounts.
10. Distinguish between Cost Reduction and
Cost Control.
11. Difference between Standard Cost,
Cost and Absorption Costing.

Questions to revise before ipcc ehic law exams

Indian Contract Act : -
1. Case study based on ” Acceptance of Offer ” & ”
Bailment “.
2. Offer & rules for an offer.
3. Capacity to contract. IPCC Law
4. Circumstances under which doctrine of
Supervening Impossibility not applicable .
Payment Of Bonus Act , 1965
1. Who is liable to pay bouns?
2. Who is entitled to pay bonus?
3. Deduction that are allowed under the Third
4. What does available surplus mean ?
5. Minimum and Maximum Bonus payable
6. Set on and Off of allocable surplus
7. Deduction from the bonus payable IPCC Law
8. Bonus linked with production or productivity
9. Payment of Bonus by new establishment
10. Exemption from payment of Bonus IPCC Law
Payment of Gratuity Act 1972
1. Establishments covered under the act
2. Eligibility and payment of gratuity IPCC Law
3. When it is payable? To whom it is payable ? By
whom it is payable ?
4. Write about the Computation of Gratuity of
amount payable
5. Explain Continuous service IPCC Law
6. Write short notes on reduction & forfeiture of
The Employees Provident Fund &
Miscellaneous Provisions Act 1952
1. Employees Provident Fund Scheme and its
salient Features
2. Employees Family Pension Scheme and its
salient features
3. Employees Deposit Linked Insurance Scheme
4. Protect Against attachment of provident fund
5. Central Board of Trustees IPCC Law
6. Change of Employer –consequences
7. Authorization of certain employers to maintain
of a/ cNote :
Students are requested to also go through
Practical Questions from the Above acts
Negotiable Instruments Act, 1881
1. Promissory Note
2. Bill of Exchange IPCC Law
3. Provisions relating to maturity o n days of
4. Cheque and its essential features
5. Crossing and different types of crossing
6. Conditions of Holder IPCC Law
7. Holder in due course and privileges available
to him
8. Holder Vs. Holder in due course
9. Endorsement , essential features and types
10. Material Alteration IPCC Law
11. Instruments obtained by unlawful means
12. Presentment and different types of
13. Presentment for payment
14. Rules regarding notice of dishonor
15. What is stale cheque? IPCC Law
16. When banker refuses payment on his
customer’s cheque ?
17. Liability of banker for wrongful dishonor of a
18. Offences / bouncing of cheque


1. Companies Act 1956 : Article of Association ,
Memoradum of Association , Share capital,
Deposites and General body Meeting
2. Business Laws : Contract Act 1872 (CPT ’s basic
concepts, Indemnity and guerentee , Special
contracts); EPF and Misc . Act ( Most IMP )
3. Business Laws : Nagotiable Instrument Act
(Discharge related points, basic points of the Act)
ca ipcc important questions
Payment of Bonus and Gratuity Act (Most IMP )
4. Business Ethics : Corporate governance and CSR ,
GTI, Conservation of Natural resources , Consumer
Acts cosumer related matters , Fundamental
principals relating to ethics , Ethical threats, Ethical
5. Communications: Drafting deeds (Most IMP ) ,
Types of communication , Grapewyn

As the CA FINAL exams are today.. few tips for FINAL students..

1. Be calm dont learn anything kara bhot hai

2. Do not be tensed if u have left any remember u hav given your best efforts..b cool with wat u have done

3. Do carry your admit card along with calculator,2 pens of same colour.. and things which you need for the exam..✏✒

4. Take use of first 15 mins to the maximum.. first decide in wich question you are most confident.. solve that.. do not go serial wise if you cant do number 1 question first..

5. Do not panic if u see any question from left out topic.. do remember.. its not necessary to answer 100 of 100 marks question...but even 80 marks answers u give must b accurate.. so b confident and dont panic..

All I want to conclude u to..

Go to mandir or masjid or church before your exam.. not because its exam day n u have to show god that u hav come before exam.. go der n sit for 5 mins.. because after u leave that place.. ur mind will be peaceful. . U will b relaxed..

And a VERY MUST TIP take blessings from your parents..i dont think I need to tell u why..

And please dont discuss your paper..dat wil only give u worries.. jo jayega jaisa jayega jaane dena.. jaane wale ko koi nahi rok paya hai.. jo gaya.. woh gaya..bhool jana.. n think about coming paper..

All the very best to everyone having exam.. hope u do ur best in exam.. come along a smiling face 

Himanshu purohit

Top reasons why students fail in CA/CS exams and remedy


REASON 1-Carelessness towards carrer REMEDY-Be serious.else you will fell guilty throughout yur life even if you do smthng good elsewhere. REASON 2-Engaged in other activities during prepration (ie; marriage, birthday,familyget together,poojas) REMEDY-All these events can be complited without you REASON 3-Late start of study(want to become a ca just by study 2-3 months? Not possibile)[exceptin excluded] REMEDY-Start your study from the day you registred yourself with the will be losing 1 marks every day if you dnt study from day 1 (what other important work do you have in hand) REASON 4-No proper planning n time allocatin for each subject REMEDY-Just dnt take the text book n start reading from the first chapter.plan yur subject yur intrest,have an overall fell of the book, chapters and their importance.dnt leave any chapter in option. REASON 5-Ignors study materails, suggested nd RTP. REMEDY-Study materials is bible first read this n then if required any refrence book, particulary theory subject.suggested r very much helpful in understanding the way institute ask a que. Nd expect us to answare. REASON 6-casual reading REMEDY- While reading one should not be casual in approach try to distinguish between similar concept and be clear!!

Few last minutes for CA students

Few students asked for the tips so
for the benefit of all I am posting
Though nothing is sufficient for
CA exams, still I am sharing my
views with some Do's and Don'ts.
1. Always write answers in points.
Examiner won't even read the
answers which are not written in
points (which should have been
2. Write your answers in law
language as far as possible esp in
accounts, law, audit, and taxation
3. Presentation matters the most.
Make sure you give proper and
sufficient working notes. Here you
need to play wisely to save time.
In few cases, my working notes
were lengthier than the solution.
4. All assumptions are to be
disclosed properly.
5. Remember its test of your
pressure-handling capacity more
than knowledge testing. You'll see
wrong questions, very lengthy
papers, etc. Remember those 180
minutes matters the most. How
you spend every second in those
180 minutes decides your future.
6. Of course you can't afford to
stick to one question and solve it
till you get the correct answer. If
you're unable to solve, move
ahead. Come back again there at
last and fill up the blank space.
There are step marking for each
step. You're not sitting for 100
out of 100.
7. Though handwriting doesn't
matter, but neatness is always
8. Choice of question is very
important. Don't decide the
question to be left out on the
basis of 'head chapter name', but
on the basis of marks that it'll
9. Keep a target of 30 mins per
question in the beginning. If you
are running out of time, rush and
reach the target at frequent
10. Attempt 100 marks. Don't
leave any question WHATSOEVER
THE CASE MAY BE. Write totally
unrelated answers, but do write!!
Even for wrong questions, you
need to attempt.
11. Applying general knowledge
and current affairs are always
welcome. It creates a good
12. Lastly for case studies, try to
write case name but DON'T IF
YOU AREN'T SURE. Same for the
section number.
Again I am reminding, way of
writing answer matters the most.
Language is more important than
the correctness of the answer. Our syllabus is so vast,
than a person's imagination
power..... But people have done
in the past, its happening now
and will continue to happen.
Don't worry, be confident and
stress-free. Do share this with
your friends and CA related
Good luck future CAs.











CA FINAL SFM Mergers and Acquisition Notes.




Go Through the Important Theory Questions in Costing and FM, for CA IPCC May 2014 Exams.
Even though enough care is taken while selecting the questions, students are recommended not to put in too much reliance on these. 
          Discretionary Costs
          Conversion Cost
          Product Costs Vs Period Costs
          Bin Cards Vs Stores Ledger
          Allocation and Apportionment
          Accounting Treatment for Over-time Premium
          Short Notes on General Ledger Adjustment Account
          Advantages of Cost-Plus Contract

       Financial Management (FM):

          External Commercial Borrowings
          Business Risk Vs Financial Risk
          ADR Vs GDR
          Role of CFO
          Types of Floats in the context of Cash Management
          Benefits of Optimum Capital Structure
          Ploughing Back of Profits


Weightage Of Marks
Costing – 45-50 Marks
Financial Management – 50-55 Marks
Overall Weightage
Theory – 35-40 Marks
Practical – 60-65 Marks
Now Moving on to Preparation Part in Paper III
1) Start With Theory in any of the two subjects u wish, But preferablly better to start with Financial Management as it is a Practical Subject u will become confident by chosing it First.
Concentrate on the Topics which are applied in solving the problems as this enables u to solve the problems easily… along with a ability to write theory if asked in the exam
Better if U read the theory chapter wise as reading all theory at a time doesn’t work..
2) Now Let’s move on to the Order of Preference to be chosen
a) First Start with Time Value of Money (an Easy and Important one ) – Base of Financial Management as it is applied in Capital Budgeting , Capital Structure Decisions which are major topics in Fm with this u will be able to solve the problems in these two chapters easily..
b) Now Come on to Chapter IV Financing Decisions(Cost of Capital , Capital Structure Decisions , Leverages) take on the theory part and start solving problems on your own.(helps a lot)
c) After on, take Investment Decisions which also carries more weightage follow the same rule as above Study the theory and apply thereon
d) Now,You have covered with the major topics lets move on to other topics Next it is better to choose Ratio Analysis In this Formulas Play a major role as Two-Four mark questions are asked on the simple formulas and most important is Advantages of Ratio Analysis
e) Now Move on to Cash Flow and Fund Flow Analysis for CFS much efforts are not required as it will be covered in Accounts Paper I just look at Funds Flow once..
f) Now Last Part is Current Assets Managament i.e 1)Working Capital Management 2) Debtors Management
In this section in majority questions are asked on Deriving Working Capital(WC Statement) , Preparation of Cash Budget so concentrate more on these..
Overall Tips – Practice the Problems in the Practice Manuals by the Institute it is enough no other Books are required
Now Let’s Move on to Second Part Costing..
1) In Costing it is better to start with the basic concepts the problems are unpredictable i.e Start with Basic Concepts and understand the objective of the subject it will enable you to understand better the succeeding topics…
2) Now Come on to Major costs i.e Material , Labour , Overheads
in these understand the following
Materials – Control Mechanism to Prevent costs, Selection of Pricing while purchasing , Valuation Principles (FIFO,LIFO,WAM), Accounting Treatment for Material costs incurred
Labour – Cost Control Techniques , Wage Payment Methods
Overheads – Classification of Overheads ,Methods of Absorption of Overheads , Accounting and control of Overheads
3) Now , Take Methods of costing(I) i.e Job costing , Batch costing Contract costing etc.,
4) Major Questions asked in the Methods of costing are from Contract costing.,
5) Now the Last three chapters may be choosed as ur wish as choosing anyone doesn’t make any difference
Note:Important Thing to remember is that these chapters ( Standard Costing , Marginal Costing , Budgetary Control ) Carries a weightage of 20-25 Marks almost 40 % More Practice is required in these chapters
6) At Last take on the Reconciliation of Cost Accounts with Financial Accounts as a finishing Step..
Overall Tip : It is better to choose some reference book like Padhuka for Costing to score better
Hope this will be useful for u Guys
All the best for your Preparation….

Service Tax notes by Ajay Jain Sir for AY 2014-15 and May 2014

Service Tax notes by Ajay Jain Sir for AY 2014-15 and May
2014 Attempt (New delhi)
Password for downloading the Document is: ipccclub
Password for opening the pdf document is: caspot


Chapter 1:-Q 1,8 
Chapter 2:-Q 3,7,8,9 
Chapter 3:-Q 2 
Chapter 4:-Q 1 
Chapter 5:-Q 1,3,5,6,10,12,14,15,16,18 
Chapter 6:-Q 2,7 
Chapter 7:-Q 3,5,8,10 
Chapter 8:-Q 1,2,3,4,5,6,7 
Chapter 9:-Q 6 
Chapter 10:-Q 1,2,,3 
Chapter 11:-Q 1,3,7 
Chapter 12:-Q 3 
Chapter 13:-Q 2,4,5
These are from practice manual. please refer


We know that gifts received from relatives are tax-exempt. But what is not widely known, at all, is that gifts received even from non-relatives can also be completely exempt from income tax. Here is the complete run-down.
It is very common for people to receive gifts from friends and relatives. In some cases, gifts are also received from NRls. Let us consider the latest provisions of the Income Tax Act, 1961 regarding gifts, and analyse how individuals can achieve complete exemption from income tax in respect of the gifts during the current financial year.
Gifts are Taxable Only in the Case of Individuals and HUFs
Certain gifts are liable to income tax as “income from other sources”, Sec 56(2)(vi). However, this provision is applicable only for individuals and Hindu Undivided Families (HUFs). Thus, if gift is received by any Trust or AOP, then it is not liable to income tax as “income from other sources”.
The provision of taxation of gifts became applicable in respect of gifts received on or after 1.9.2004 and before 1.4.2006 if the gift money exceeded Rs. 25,000. From 1 April 2006, this amount has been increased to Rs. 50,000 so that cash gifts and gifts by cheque or bank draft from non-relatives and from non-exempted categories can be fully exempt from income tax up to Rs. 50,000 in aggregate in one financial year.
Gifts from Relatives are Tax-Exempt
Importantly, the provisions of the aforesaid Section 56(2)(vi) applicable to the taxation of gifts in excess of Rs. 50,000 in a financial year in the aggregate are applicable for gifts received from non-relatives.
Thus, any gift from relatives of any amount during the financial year is completely exempt from tax. Therefore, it’s crucial to know the meaning of the expression ‘relative’ for this purpose. The expression “relative” means:
Spouse of the individual;
Brother or sister of the individual;
Brother or sister of the spouse of the individual;
Brother or sister of either of the parents of the individual;
Any lineal ascendant or descendant of the individual;
Any lineal ascendant or descendant of the spouse of the individual; and
Spouse of the person referred to in clauses (ii) to (vi).
 For example, if Mr. A receives a gift of Rs. 200,000 in cash from his maternal uncle, that is, his mother’s brother, it would be exempt since the maternal uncle would be brother of the parent of the individual concerned and would come within clause (iv) of the aforesaid Explanation.
Hence, whenever you receive any gifts from relatives you must carefully apply the test to ascertain whether the person concerned falls within one of the seven categories of “relatives” or not. If a person who makes a gift does not fall within any of the above categories, then he would be considered as a non-relative and gifts from such people would be exempt only up to the extent of Rs. 50,000 in a financial year. It may be noted that since a Hindu Undivided Family can’t have relatives, any gifts received by it in excess of Rs. 50,000 in a year would be liable to full income tax.
Exemption for Marriage Gifts
One very happy feature of the provision of taxation of gifts is that any gift received from any person on the occasion of the marriage of the gift’s recipient would not be liable to income tax at all. There is no monetary limit attached to this exemption, which is provided by the proviso to Section 56(2)(vi). However, it is not made clear by this provision whether the gifts should have been on the exact date of marriage, or a few days before or later. Normally, it should suffice if the gift is given just on the occasion of the individual’s marriage, which means either on the day of the marriage itself, or a day or two before or after. Practical common sense view would prevail in such cases.
Tax-Exempt Gifts from Other Persons
Besides gifts received from a relative or on the occasion of an individual’s marriage, the following are the other gifts which are completely exempt from tax as provided in the proviso to Section 56(2)(vi) of the I.T. Act:
Gift received under a Will or by way of inheritance;
Gift in contemplation of death of the donor;
Gift from any local authority;
Gift from any fund or foundation or university or other educational institution or hospital or any trust or any institution referred to in Section 10(23C); and
Gift from any trust or institution, which is registered as a public charitable trust or institution under Section 12AA.
Thus, scholarships, stipends or charities received from a charitable institution would be completely exempt from income tax in the hands of the recipients without any limit provided the trust or institution giving the charity is registered under Section 12AA. Likewise, all gifts under a Will, and all amounts received on the death of a person as a part of the inheritance are fully exempt from income tax.
A proper knowledge and understanding of the provisions of Section 56(2) (vi) relating to gifts is very helpful in order to get full tax-exemption in respect of gifts received during a financial year