Dear Friend study of Accounting Standards in CA is very important and indispensible.
Special attention needs to be given to Accounting Standards. Only good knowledge of Accounting Standards is not enough but you must understand the technique to apply Accounting Standards in accounts and audit practical problems.
Most of the times you’ll find a practical problem in Audit based on Accounting Standard. For this purpose refer ICAI suggested answers and observe the application of Accounting Standard to the problem. Another benefit of this task is—it also helps you to understand AS in a much better way.
One more thing to mention--- it is not about PCC or IPCC ---it is about knowledge and understanding. A good understanding of AS surely help you in CA final and in finals you have to deal with AS in a very high standard manner.
If for now you have less time then prepare selective Accounting Standard but do prepare some AS for confidence purpose.
Trust my words help you to decide.
Thanks
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