Accounts and MAFA preparation for Exams

Dear Friends,

I thought it would be beneficial to students if I could share my experiences and preparation stratergy for the CA final exams. I have cleared the exams in Nov 2009 Old course so it might require modifications for students of the new course. I will tell my mode of study subject wise.

1. Accounts. Marks Scored : 55

I attended MPV classes for accounts. Truly said his material for Accounts for the 2 major topics is most sufficient. CFS and Valuation. However even though he takes amalgamation in the same way

the questions tested in the exams on amalgamation are tough to crack unless they are a replica of ones already solved. This covers upto 45 marks of the exam paper unless you are grossly unlucky not to have any questions asked in the above chapters.

Second part is the accounting standards which require conceptual clarity to solve given the examiner's penchant for asking questions. Standards like AS 10, 16,17,19 are 22 are most prone for problem orineted questions. There are also thoery questions on the standards the total accounting to 25 marks.

Next part which concludes the exam is the misc chapters like value added statements, EVA and human resource accounting for which the problems given in his material are sufficient.

TRAPS: It is most likely that you are nervous cos this is the first exam plus there is a high probability that you would not know one question accounting for 16 marks completely. The key is holding you nerve and solving for the 84 known marks.

2. MAFA Marks Scored : 72

I did not attend any classes and followed pattabhi's book to the core. The material is really good especially international finance. Its definitely a must read for MAFA.

As regards the paper the first question is on Capital budgeting for 16 odd marks and there is question on leasing as well for 10 marks. leasing is very easy and a must score 10 marks.

International finance would account for 15 marks and would take 3 days of complete preparation.

Derivatives would come for 15 marks and is quite complex to solve considering the vast portion.

The remaining part would comprise of Portfolio management, dividends, mergers and acquisition and misc chapters.

TRAPS: It is most essential to score maximum marks in chapters other than International finance and derivatives as they are high risk chapters and cannot be banked in the exam. Scoring in the other chapters is the necessary cushion for scoring high marks.

I hope you guys find it useful. I am hoping for feedback on the same so I can incorporate them and give them for the remaining 6 subjects.

Regards.