What to do and not to do in your PCC / IPCC exam
Hey Frnds I have just given my PCC Nov10 attempt and i want to share my experience with you
• According to me Accounts paper was a different paper rather than being difficult. For the first time in PCC we were given choice to leave one full question .
• Accounting standard problems were not as difficult as it appeared as most of them were from past papers only especially EPS and Grant one .
• Partnership and Amalgamation Q's was a piece of cake.
• The only problem with the paper was it's length.
1. Pay proper attention to accounting standard as it also contributes in Auditing and CA Final Financial Reporting Paper.
2. You have to focus on Time Management as it plays a major part in it.
1. Never leave any chapter as all chapters are equally important.
2. Don't spend unnecessary time on one question.
Imp. Links for Accounts Paper
/articles/real-time-tips-to-deal-with-practical-paper-account-cost--3482.asp - Source - Ankur Garg Bhaiya
/forum/accounts-best-notes-of-caclub-113549.asp - Source - Resham
/articles/swot-analysis-of-ca-profession--3891.asp - Source - CA SURENDRA KUMAR RAKHECHA
• There was a change as 20 marks True False were missing from the paper . Well u can take this change in both positive / negative manner.
• Practical questions were very easy.
• People who were good with drafting found Engagement Letter Question as a bonus but for others this was d question they left in Choice.
• Whole paper was SA dominated paper .
1. Pay proper emphasis on SA's as they form the backbone of Auditing paper .
2. Presentation is very imp. in Audit paper and for that you can refer Suggested Papers of Auditing
3. Try to relate each question with Sa's and AS . These are directly and indirectly related with each question.
4. Visit Icai 's site for changes in SA's .
/forum/files_download.asp?msg_id=222431 Source - Ankur Bhaiya
1. Don't ignore Company Audit and CARO . This is one of the most imp. chapter of Auditing.
2. Don't write ur answer in paragraph but in points.
Source - Ankur Bhaiya
• Law doesn't mean only Company Law and this year's PCC paper has once again proved this fact.
• Equal weightage was given to Ethics and Communication.
• Gandhiji 's Question was from RTP so pay attention to RTPs and Mock papers released by ICAI.
1. Company Law is the most imp. part as has a seperate 100 marks paper in CA final and also useful in your profession.
2. Negotiable Instrument Act requies proper time as it is a bit tricky in comparison to other Business Laws.
1. Don't ignore Ethics and communication as you can't pass this paper without having command over this section.
2. Don't ask anyone whether you have to learn sections becoz writing section will fetch u extra marks.
Refer law part from the mentioned link - Source- Ankur Bhaiya again
• Pls take this subject seriously as it is the most interesting and useful subject for u.
• Refer a proper book and don't faith blindly on the books and classes of teachers who only provide entertainment and Gyan batna sessions in their classes .
• This subject requires thorough knowledge and short-cuts will not serve the purpose.
• I used M.K. Gupta Publication book (Seperate book for imp. chapters in also available in the market) and it really helped me. People can also use Girish Ahuja aur Padhuka as they r also equally good.
1. Write down imp. points in a seperate copy also known as Concept Copy and it will help u in end.
2. Follow ATLAS method of Ankur Bhaiya . It really helped me.
3. Pay proper attention on Service Tax and VAT as this is the most scoring portion.
1. Don't write unnecessary points in your explanation as this will only irritate the examiner.
2. Never attempt Tax Assessment Question (16 marks one ) in the beginning.
1. Download - The Best Notes for Income Tax
"/forum/files_download.asp?msg_id=541164 Source - /profile.asp?member_id=397701 - Sonam
2 CA Sudhir Halakhandi
Income Tax imp. Definitions
3. CA Somshekar
Other Miscellaneous Articles
1. Ankur Garg
In the end I want to thank following persons :-
CA Sudhir Halakhandi
Pls read this article and give your comments and valuable suggestions.
pulkit_1988 @ rediffmail.com