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Hello Friends,

Continuing with my previous article, let’s discuss something further.

Planning for Financial Reporting:-

Friends practice is the most important thing for this paper. Do accounting standards well. Friends if you do AS well at least you can attempt 36 marks out of 100. Then comes practical topics like Amalgamation and Merger, Consolidation & Valuation of Goodwill. In this way you can attempt 60+ marks paper. Accounting Standards are also essential for Audit paper too. Refer such a book for Accounting Standards and Practical part that contains past attempts question with year and relevant details of respective exam. This will help in saving time as you don’t have to refer past question papers for the same. Don’t leave AS 30, 31 & 32 as one special questions comes on it. Then comes the Misc Chapters such as EVA etc. Don’t leave anything on option.

Planning for Audit:-

I would call Audit Paper as a mix of Accounts, Company Law and other subjects such as income tax etc. Do go through Surbhi Bansal’s handbook along with practice manual. Don’t leave Professional Ethics part, as a fully dedicated questions comes on this.

Planning for Corporate and Allied Laws:-                    

Refer Munish Bhandari’s (Main) book for Corporate and allied laws. Take an updated one as this will contain a past question paper for recent concluded attempt. A day before an exam study from Munish Bhandari handbook on Corporate and allied laws along with practice manual for the topics which are given in brief in handbook.

Planning for Direct Taxation:

Do prepare case laws well for this paper. One dedicated question comes on case laws that are available on institute’s website.  Start with PGBP, CG and IOS, Set off of losses followed by core assessments chapters along with wealth tax act. Then do small chapters like MAT, TP, Advance Ruling, Settlement commission etc. and then the remaining chapters such as Income from Salaries and Income form House Property. When you will study the respective chapters don’t forget to solve the problems from Practice Manual. Don’t forget RTP and supplementary study paper. A 2-3 times utmost reading would be sufficient prior to exam

Planning for Indirect Taxes:             

I referred CA Yashwant Mangals Handbook along with suggested case laws and Practice Manual. Whichever book one refers don’t forget Practice Manual problems and Suggested case Laws from institute. Don’t forget RTP and supplementary study paper. A 2-3 times utmost reading would be sufficient prior to exam.

All the best


Published by

Ashwini Nirgude
(Chartered Accountant)
Category Taxpayers   Report

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