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Friends, exams are knocking the doors of our mind. There are many ins and outs of thoughts in our mind. This is the moment in which we may feel hopeless. This is the point where we may lose the track of success. But remember friends, success is gained by persons whose dreams don't die in their eyes.

So never lose hope and keep the work going on. Friends, we all feel that the syllabus is much big and we cannot go through the same. But if you look at your past attempts you will find that there are so many small pieces of information, the knowledge of which might had contributed 5 to 10 marks in that exam.

For example, in case of calculating borrowing cost as per AS 16, if no borrowing is specified for the qualified asset then interest at WACC (weighted average cost of capital) should be capitalised. Due to the lack of this type of small information, you might have lost 4 to 5 marks.

I would like to share my own experience in the paper of SFM (at that time known as Management Accounting and Financial Analysis) in June 2009 which was my first attempt of the first group of Final examination. I got 54 marks in that paper. But in the fourth question, I might have lost marks due to two silly mistakes or lack of two small pieces of information. First, I was not aware of the fact that the premium of the option purchases (whether call or put) should be deducted in the computation of net pay off. And another fact, which I was not aware was that while computing the return on the units of mutual funds, capital gain distributed should be considered. It can be well concluded that if I had not done those mistakes, I could have got exemption in that paper. And the journey would become much shorter as compared to the actual. (I have cleared the final in November 2014).

So now, you will ask what to do? Take past 10-15 papers and set a very small question paper of just 5 such small question which can be answered in one word or sentence. Ask your friend to set such question paper. It can also be in oral form. Rather I will say oral form is more preferable because the written form will consume more time. Exchange your question papers and solve the same. This is like a game and the way to increase knowledge which helps a lot in journey from 40% to 50%.

The example of the small question paper is as under: Financial Reporting:

1. How to treat the appreciation (upward revaluation) in the value of asset as per AS 28? How to treat any impairment loss in the period subsequent to the appreciation (upward revaluation)? (Nov 2015)

2. Which date is important (effective) for bonus issue? (May 2015) 

3. Normal ROI expectation in industry is to be considered before tax or after tax? (Nov 2014)

4. While calculating the “fair value to be recovered from lease payment”, whether the PV of unguaranteed residual is to be deducted from the cost of the asset or not?

5. What is the treatment of declared but not paid dividend of the Amalgamating Company? (Nov 13)

This is the example of the question paper of FR. All the subjects you are going to appear should be prepared in this way.

Friends, as we know that the journey of 40% to 50% or 50 marks to 60 marks is very crucial. These are the small points which can make your journey much smoother. This is the difference which can make you successful and that's why small things make a big difference.


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Category Students, Other Articles by - CA Mayank 



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