There should be a practical approach in testing a paper and giving marks. Its far enough if we understand the concepts, not necessary to score marks based on mugging up.
I also wonder about ICAI's paper checking style, when I see 98 marks scored in ISCA. If you give me a book to copy from it, m pretty sure one would not give such healthy marks.
On the other side ICAI is saying that we want to produce proficient CAs.... What should we understand?????
A practising CA after working for one full month, could not complete the bank reconciliation of a foreign currency bank account. We all need to check our consciousness, while studying and while acting in the profession.
Sage Sri Aurobindo has coined our mission statement and lodged His supramental energies in our Institute, which is aiding us, despite our failings...