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Balance sheet as per schedule iii

MADHU (ca final) (232 Points)

17 February 2015

Hi friends pls someone help me out this. it may look quite silly for some but I just dont want to take a chance in exam like ca final.

Now my queation is, while preparing balance sheet if asked to prepare in question then we will stright away write draft b/s which can be filled later.

But what about notes to accounts, should it compulsorily written right after b/s as given in institute material or we can write it later after finishing working notes etc.

I'm facing problem with leaving space for notes to accounts.

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16 Replies

Jithin (Learner) (1057 Points)
Replied 18 February 2015

Hi Madhu, u can prepare working notes first, then the balance sheet and finally the notes to the balance sheet. This way u can get over the spacing problem.

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MADHU (ca final) (232 Points)
Replied 18 February 2015

Thank you jithin. but are u sure that we can start our solution directly with working notes??

Because in most of the lectures they write b/s first.

Jithin (Learner) (1057 Points)
Replied 18 February 2015

Well I always do that way in exams. I hvnt attempted my finals yet(have been postponing it for quite a long while due to health problems) but for my inter exams I scored 73 in accounts wherein I wrote working notes first. Have given below a link where CA Suraj Lakhotia(he is a rankholder at all three levels of CA) has clearly mentioned that he always start his answer with working notes. I dont think writing working notes first or last is going to make any difference to your marks.

Here is the link to that article by CA Suraj Lakhotia. Pls click on the link and read point 5(a) of the article. https://surajlakhotia.blogspot.in/2010/09/how-to-go-about-accounts.H T M L

P.S.Pls replace HTML in large cap with H T M L in small cap in the link. I had given the correct link but it appeares with HTML in capital letters(actually H T M L is in small letters)

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MADHU (ca final) (232 Points)
Replied 18 February 2015

Thank you jithin. I will follow as u said, even I have the habit of writing working notes first in my ipcc and even now while practicing also. just wnat to make it sure.

Thank you so much.

MADHU (ca final) (232 Points)
Replied 18 February 2015

Jithin can u help me out, how can I get prof. Rahul malkan FR notes (atleast for consolidation).

I find his way of solving problem easy. (but I dont want to take any online classes.)

Jithin (Learner) (1057 Points)
Replied 18 February 2015

Hi am really sorry but I dont have Rahul Malkan's notes(I dont use coaching class notes for any subject), nor do I know anybody who is having Rahul Malkan's notes.

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MADHU (ca final) (232 Points)
Replied 18 February 2015

Its ok. Thnak you jithin. Even I'm using SM & PM. came across his consolidation video in youtube so just thought of trying it.

Jithin (Learner) (1057 Points)
Replied 18 February 2015

SM is always the best bet if u are able to grasp things from it. I actually hvnt read SM for accounts. I use M.P.Vijaykumar(Although I dont use class notes, I use reference books). I use SM only for Management Accounting and ISCA. But even for the guys using reference books/class notes, I think it is important to have a very quick read of all the subjects from SM coz there maybe topics not covered by these reference books/class notes. I think you are doing the right thing by opting for SM+PM. If u are comfortable with SM, pls stick to it.

MADHU (ca final) (232 Points)
Replied 18 February 2015

To be frank I refer SM for intial concepts, later I marked the questions common in SM & PM.

I have done all questions from PM & some from SM which are little different.

But my main focus was on PM. About ref books even I purchased MP.V but found it too heavy for prepartion in just 3 months. But for AS I'm reading Rawat

Jithin (Learner) (1057 Points)
Replied 18 February 2015

Yes, you are right, MPV is time consuming, particularly in relation to consolidation chapter. For preparation on a 3-months time frame, MPV maynt be really ideal(in case you are starting from the scratch and attempting both groups).

All the best for your exams.

MADHU (ca final) (232 Points)
Replied 19 February 2015

I'm attempting only 1st grp. Initially I thought of writing both. But after finishing 1st reading of grp 1 realised it needs lot of revision.(I couldnt even write 30% of question paper coreectly). So skipped the idea of both grps.

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Jithin (Learner) (1057 Points)
Replied 21 February 2015

Hi Madhu, I am also under a big dilemma whether to write both grp or only 1st. My heart says write both but my brain advises me to opt for only grp 1. After reading what you wrote above, I have almost decided to go with my brain:)

MADHU (ca final) (232 Points)
Replied 21 February 2015

ha ha I see myself in your last post jithin.

Exactly one month ago I wrote same query in nimish goel sir blog. here it is. january 29, 2015 at 8:15 am

Nimish Sir,

I felt extremely happy after reading your article KAHIN KUSHI KAHIN GHAM on caclubindia which almost reflects my present position.
Sir, I am a CA final aspirant who wishes to have those 2 magical letters before my name. Though my eligible attempt was may 2014, I couldnt give both may & nov attempts as I had health issues during that entire 2014.
But sir I believe that reasons for failure never compensate success.
Now I am ready for giving may exams, but I am facing a problem about taking a decision. Sir, my heart says go for both groups as you are capable enough, but my mind sends negative remarks about my friends who are better than me even couldnt clear single group after 2 attempts.
I am an above average student scoring around 88% to 90% till my intermediate (ofcourse not in CA). I can manage around 12 hours of study everyday and 15 hours during one month before exams.
I started with my studies in jan and finished 2 subjects and would hopefully finish group 1 by feb 2nd week. Though I had coaching its long back story and I hardly remember any thing.
Now the biggest question is, shall I go for single or both groups?
I would be very grateful to you if can help me out in taking a decision which could probably change my life.
( I apologize for writing such a long query & for any grammatical & spelling mistakes)
Regards,
MADHU.

nimishgoel

February 8, 2015 at 8:22 pm

Hi Madhu – First, my apologies for the delay in replying to your query. To be in this kind of dilemma or position is very common for students. But I think what you should introspect is your won calibre and competence rather than mapping it with your friends. You may have friends better than you academically but clearing CA is an all together different game. I have seen students academically brilliant but then a complete flop in CA papers. And similarly students who have been average or above average in studies have been very good in clearing CA papers.

Go for what your mind says. Don’t do what your mind doesn’t allow. If you are confident of clearing both the groups then go for it, but if you feel you are not confident then go for only one group. If you clear one group that in itself would also give you a lot of confidence and perhaps help you clear the other group quickly.

I have written few articles on my blog that might help you plan better and prepare for your exams. Read my blog and you might find some useful tips. Should you feel the need to write and ask any more questions feel free to write in. I would be very happy to guide you in your journey.

All the best…

1 Like

Jithin (Learner) (1057 Points)
Replied 21 February 2015

Wow thats really really amazing!! So u too had the same tussle between mind and heart and u too skipped exams due to health conditions! But nobody can beat me in skipping exams..I have skipped so many attempts that I myself cant remember which was my original attempt:)

I always prefer choosing heart over mind but this time I think I wud have to do the reverse for a change. And the dilemma is not bcoz I am not confident. I am super confident and have tremendous faith in my abilities. If I study well, I am sure of clearing irrespective of the pass percentage and irrespective of the fact that many brilliant guys had flunked in the CA exams. But the problem is that I amnt able to study well. I started my preparation on Jan.20th but havent upto now studied the way I wud hv liked to. I have reached that point where the chances of clearing both grps are pretty low, even if I prepare really well from now onwards. But I am damn sure of clearing 1st grp if I prepare well for the remaining 70 days.

1 Like