How to deal with isca... (ca final)

hi pankha.. may be follwing link help u. plz check

http://www.caclubindia.com/forum/details.asp?mod_id=71654

http://www.caclubindia.com/forum/details.asp?mod_id=100052

http://www.caclubindia.com/forum/details.asp?mod_id=95284

http://www.caclubindia.com/forum/details.asp?mod_id=97122

 

 

 

Advance Management Accounting:

1) AMA is not only about "Marginal Costing" and "Standard Costing". I have seen students spending maximum time on these two topics. Please give sufficient time to all chapters. No doubt that above chapters are important, but don't keep anything for option at the cost of above.

2) Again, understanding concept is more important in AMA. In fact, more than ISCA. This is because ICAI won't repeat any practical question nor it will copy-paste any question from any reference books. Most of the questions are new and do test your concept understanding at advance level.

3) Don't ignore theory. I don't want to emphasis on exact marks it carries, but it will surely help you to score, and in many cases to survive as well. Theor answer should be precise and to the point. Don't write essay.

4) Problems in module and practice manual are really Qualitative. It'll help you to understand the level at which ICAI expects you to think.

5) Practice as many problems as you can. It'll help you to develop the logic to proceed with new type of problem. Refer couple of books recommended by icai on http://www.icai.org/post.html?post_id=1733

I don't understand why you refer other books which are not recommended by ICAI. 

6) Students feel that Quantitative Techniques can be kept for option or ICAI won't ask advance level questions on this. Please don't make this mistake. You take any exam paper of ICAI, you'll find advance questions on QT as well. QT should help you to save time in exam and score as well.

7) In exam, go from easiest to toughest. Question you can answer with 100% accuracy should be answered first. It will do two things. 1) Boosting Confidence 2) Time Management

8) Do not make concept errors. If you don't know the answer, then don't attempt that question.

"Learning Curve Theory" does apply in your studies. More you practice, better results you will get.

Thnx. 4 ur suggestions dude,,,,,,,,,,,,,,,,it's really helps us a lot ........:)

@ Rahul.. I'm sure it will do some value addition to your study style...

 

@ Kaya... Please don't call me sir.. I'm way too small for that.. still a student.. :)

Thank you Sagar .....Very useful suggestions and well presented will be very helpful.

@ Vandana.. thanks a lot.. and Wish you all the best... 

@ Vandana.. thanks a lot.. and Wish you all the best... 

Sagar can u help me out how to proceed with sfm-preferably the way u explained isca

Thanks Sagar...!!! its useful!!!!!!!!!!!!!!!

 

I observed this attempt's result and came to know that many students couldn't pass in 2 subjects viz. "Strategic Financial Management" and "ISCA"

I have already discussed on ISCA in detail and now it is time for us to evaluate what went wrong in SFM, since I was also one of the victims in the said subject.

I would like to invite all CAs / CA Final Students to give their valuable views in this regard because this time is was "Mass-failure" in SFM.

When I went thorugh "suggested answers" posted by ICAI, I came to know the blunders i made in the answer paper. Major mistake from my side was - "Irrelevant working notes which took me off the main part of answer and resulted into waste of time".

 

I found following shortcomings in my answers - 

1) SFM is similar to maths paper. Formulae and Final Answers have to be accurate. I can't comment whether ICAI has awarded marks for steps; however it can be confirmed if you've applied for Certified Copies.

2) Only knowing the concept and formula is not enough. You need to apply it in different scenarios. If your answer is not backed up by working notes, then it will not fetch any marks. More importantly, working notes should be relevant. (I wasted a lot of time in Reconstruction Problem because of lengthy working notes)

3) Concept error will cost you a fortune. This is confirmed again this time. Last time I had same experience in PE II accounts paper. The moment you make concept error, you're almost gone.  whether you make an error knowlingly / unknowlingly; but it does cost you a lot.

4) More practice is needed for -  Derivatives, Forex and Misc practical topics where you get small formula based or concept based questions.

5) Theory answers should be technical. Plain english won't fetch much marks. You answer should sound like a Finance Manager.

 

ICAI has definitely maintained and raised its standards from time to time. Instead of questioning those standards, I would suggest you all to raise to those standards.

 

@ Krishna

I read and understand entire theory alongwith formulae and then proceed for problems. Try to understand the logic behind each formula. Do extensive problem solving practice. Refer ICAI module and other material of ICAI supported with one of the recommended books.

 

Even I'm waiting for some useful tips..