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
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
2. FINANCIAL REPORTING :
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
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