R. Sivakumar
In terms of the choice of questions, candidates appearing under the new syllabus are better off than those who took the exams under the old syllabus.
Under the current pattern, the student has the choice of leaving out one of the six questions and, among them, there is a further choice in one of the questions.
Here’s a review of the coverage of the syllabus:
Old syllabus: Consolidated balance sheet — 20 marks; accounting standards — 42 marks; amalgamation — 16 marks; value-added statement — 10 marks; fund accounting — 8 marks; HR accounting — 4 marks; total — 100 marks.
New syllabus: Consolidated balance sheet — 16 marks; accounting standards — 41 marks; amalgamation — 32 marks; value-added statement — 8 marks; NAV/buyback of shares — 16 marks; replacement analysis — 8 marks; market value — 4 marks; total — 125 marks.
Comments
The coverage of the syllabus is fair and reasonable. Most of the questions in the November 2008 exam are from the past question papers, which are found in the study materials and the revision test papers.
In fact, 70 per cent of the questions can be directly traced to the illustrations from the study material, with slight modification of the numbers. None of the questions was vague.
A student preparing mainly from the study material and revision test papers would have had the advantage of being able to successfully attempt all the questions. Though the paper appeared a bit long, it should not have posed any problem for a well-prepared student.
As expected, the major part of the paper laid emphasis on accounting standards. Including questions on the applicability of accounting standards and the convergence with IFRS is a welcome measure and a step in the right direction.
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