Please find below some of my suggestions shared earlier during various occasions through the platform provided by Caclubindia Forum. Hope you find them useful. You may also book mark this page. Please guide me further by sharing your valuable comments. Also check the link below to download relevant files:
1. Tips to improve marks in Audit and Law
Marks in Audit and Law subjects are very low in November 2009 PCC and P.E.-II result. As per my understanding the reason behind this is not low marking. The main reason behind this is lack of concentration in theory paper along with poor presentation and writing skills.
Kindly appreciate Exam pattern is now practical Question based and not flat Question based so presentation and writing skills becomes very important.
For improved presentation and writing skills I would suggest you to refer answer presented in ICAI suggested answers.Careful observation of ICAI suggested answers is very important. Along with good study focus and observation is also very important to succeed in professional examinations.
One more useful suggestion is:
It is advisable for the CA students to have a glimpse of the guideline answers given by ICSI and compare them with ICAI's. As we all know that ICSI answers are one step ahead from those of ICAI. So a comparative "go-through" of these will help in presenting the better answers... this is not time consuming either...One more important thing if you are conceptually very clear and strong but not able to present it then there is some problem indeed, which is required to be sorted out immediately.
Good conceptual knowledge with good writing and presentation skill is the key to success.
2. How to deal with theory paper
1. Focus on important topics and make a strategy to complete them first. If you can successfully perform this task then it will give you lot of confidence.
2. Prepare a list of Exam oriented important chapters with the help of scanner and design your study schedule accordingly. The earlier you perform this exercise, the more time you will have to design your study schedule and prepare for the examination.
3. Prepare a list of frequently asked questions from scanner and design your ATLAS accordingly. Please find below My ATLAS Method as a ready reference (Already shared through my article). In your condition use the ATLAS in the last 4-5 days of your leave.
ATLAS STUDY METHOD: ATLAS STANDS FOR AT LAST. There are always some questions, formulas, Sections and case laws which we simply fail to recall in exam hall. According to this method if you find anything very difficult to remember then after preparing the same topic once or twice put it in the ATLAS. Keep putting difficult topics in ATLAS till exam date. There would be a different ATLAS for law, audit, accounts etc. Now 1.5 hour before leaving your home for examination hall open ATLAS question list and revise it properly or give it a special reading. Now if you find any question from ATLAS in the exam paper it would be very easy for you to answer as you specially revise it just 2-3 hours back and your confidence level will automatically increase in the beginning of exam.
Keep review your ATLAS list and modify it accordingly. If initially you put any question in ATLAS and now you are confident enough about that particular question you can remove that question from ATLAS. Dont put easy and non important questions in ATLAS as this concept is for revising extra-ordinary important questions just 2-3 hours before examination.
4. Decide your study time as per the available time. A 5-8 hour productive study would be enough. Remember, it is the quality and not the quantity of study that is required.
5. Remember study time management is very crucial.
6. First try and figure out your mistakes (100% there) then promise yourself to remove them. Believe me there is nothing wrong with your preparation but you have to do some homework to improve your performance. Be confident and keep working on your preparation
3. Some tips to deal with Law paper
1.Use Scanner from the very beginning. It helps you to recognize which chapter is to be given preference. Prepare a list of Chapter wise frequently asked questions from the Scanner and prepare them properly.
2.Try and develop a sense to figure out excess study material from the exam point of view and cross that material immediately in your book. Study Material provided by the institute is not updated most of the times and full of totally irrelevant material/theory.
3.If you have time prepare your own notes to learn properly only for important topics along with frequently asked questions solution.
4. As per my opinion you shouldnt ask anybody about the relevance of quoting sections in Exams. It is off course extremely useful in law subjects especially in CA Exams. Try and quote section in your exams without any hesitation. Prepare a special strategy for remembering sections. If you make it a habit now it will 100% pay at the time of your final preparation.
5. Dont play with the language of law specially Definitions. It is strongly recommended to put the definition in the exact language. However you can take slight liberty while drafting your answer in respect of other law language but the context, texture, interpretation and meaning should not be changed.
6.Work out on your presentation and writing skills.
7.Dont use different notes for one topic. Finalise your notes before starting final Examination preparation and stick with them.
8.10 Days before examination date do not add any new topic in your schedule. Just focus on revision-revision and revision.
9.Time saving method: As per my opinion in theory paper you should attempt flat questions first. After that attempt practical problems. Like in Audit or Law first attempt short notes or distinctions etc. In the beginning if you attempt practical problems first then there may be wastage of time in reading the problem twice or thrice.
10.Make Point & give heading: In other words write your answer to the point. Try and convert the paragraphs in to points and give them a heading like I am giving in this Article. However, if during exam you have no time then avoid this practice. But its a very good technique of theory presentation.
4. Both Group or Single Group
It depends on your preparation and availability of time along with your capability to handle both group at a time. As per my understanding one should go for single group. My suggestion is not baseless and based on long term professional success and further supported by the following points:
1. By giving one group one can fully concentrate on true and expert examination preparation.
2. By giving one group one can fully utilize his/her time and gain full knowledge of course.
3. According to me group clearance is not the only parameter of success.
4. By giving one group this timeone can arrange some time for himself/herself which is very important. Self assessment is also important.
5. Appearance in both group is not a guarantee of success.
These points are based on my personal thinking and helped me a lot in my professional exam preparation and prevent me from failure along with good application of my knowledge.
I personally feel that a reasonable distinction is required to be drawn between quick success and long term professional success with good knowledge.
5. Use of sections in the exam
As per my suggestion student should start writing sections and case laws at the PCC level itself. I would suggest you to make it a habit to remember sections along with case laws as it will surely help you a lot during preparation for CA final or other professional examinations. Section and case law knowledge is also very important for your professional working. It is 100% true.
Keep one thing in mind -- write the sections and case laws only when you are 100 % sure, otherwise leave it.
However let me tell you one thing you can easily clear your CA without sections but for me it is all about standards. Now the choice is yours.
6. Important Sections for PCC/IPCC Law
1. Section- 17A-change of regd. Office within a state.
2. Section- 21-Change of name of the company
3. Section- 35- conclusiveness of Certificate of Incorporation
4. Section- 45-consequance when no. of members falls below statutory minimum
5. Section- 53- service of documents on member by company
6. Section- 56, 57 and 58-Prospectus
7. Section- 58A and 58AA Deposit
8. Section- 60A and Section 60B
9. Section- 77A- Buyback of shares
10. Section- 78- Issue of share on premium
11. Section- 79- Issue of share on discount
12. Section- 79A-Issue of sweat equity shares
13. Section- 81- Right issue of capital
14. Section- 108-Transfer of shares
15. Section- 125-Registration of charge
16. Section- 149-Restrictions on commencement of business
17. Section- 163-Place of keeping registers
18. Section- 166-AGM
19. Section- 169-EGM
20. Section- 171- Length of notice
21. Section- 174-Quorum of the general meeting.
22. Section- 176-Proxy
23. Section- 187
24. Section- 192A- Postal ballot
25. Section- 193-Minutes
26. Section- 208- Payment of interest out of capital
7. Miscellaneous suggestion for Exam Preparation
I do not think student need any special kind of advice to succeed. One must be fully aware of his/her strengths and weaknesses which according me is very important and essential ingredient for exam success.
Just continue your study with full confidence and attitude. Keep analyzing the things and your preparation and modify it accordingly.
There is one general query regarding forgetting one chapter next day. Regarding I would like to say rather advise students dont think too much and focus on conceptual clarity. After 2-3 days practice same chapter with any milestone or heavy question which contain all the adjustment of that chapter. Student should check theirpreparation by solving previous exam questions from scanner.
Another important thing is giving some time for account and other practical theory. Preparation of own notes for theory paper is a very good idea but only for frequently asked questions. Do not dare to underestimate the importance of theory in numerical papers. Also make provision of some time for yourself to relax.
One of the main reasons people do not reach their goals is because they set them too high. So set goals that are manageable and it does not make any difference if they seem too simple. First develop a habit of accomplishing small goals and then think about higher goals.
Sincerely hope that the suggestions mentioned above would be off some help. Impatiently waiting for your kind comments on the above mentioned points/suggestions.
8. Strategy to prepare Audit
QUICK READING APPROACH
First give ICAI audit study a quick reading to understand the depth and figure out the efforts and time required for final preparation. You would appreciate that through this quick reading you would be able to figure out where extra efforts are required in audit subject and plan accordingly.
Make necessary notes or put suggestions or mark strategy for yourself on the study book during first reading. This task helps you to deal with audit subject later on during final preparation. Pre-condition for this first study is --- go ahead for quick study with a completely relax and chilled mind. Your main purpose behind this quick study is observation and formation of a plan to deal with audit.
During first study ride prepare a plan for final preparation. Also use scanner for making the plan. Later on use any good notes to prepare. Remember at this moment you have everything in your mind like what is imp along with basic idea of the topic and chapter.
SPECIAL ATTENTION TO SA AND AS
Also give special attention to SA and AS. Only good knowledge of SA and AS is not enough but you must understand the technique to apply SA and AS in audit practical problems. For this purpose refer ICAI suggested answers and observe the application of SA and AS to the problem. Another benefit of this task isit also helps you to understand SA and AS in a much better way.
The suggestion above is based on my personal understanding and may easily be rejected or accepted by you.
Check the links below for some more suggestions:
Hope this Article cum compilation would be off some help during your professional journey. Awaiting your kind responses on the above mentioned points. Please share your views along with your valuable comments/suggestions/guidance.
Wish you all the Best