Luneau ( ) (38 Points)
19 April 2010As crazy as te tilte of this question may sound. I have 7 days time to open books of costing and read up something to appear in the May attempt. I have covered the OR part. I know only Standard costing and some basics of Marginal costing. Can anyone tell me how i can go about doing some decent prep to appear. Pls send in ur inputs. I have padhukas book and ravi m kishore and stdy material.
Ajay k
(Consultant)
(91 Points)
Replied 19 April 2010
Well my friend, thats ample time, considering i have 13 days left to open the book afresh & start and finish A/c, Audit, Law, Cost, MICS, DT & IDT. Im just opening the books now after the previous attempt.
just stick to the basics... don't go to work out too many problems...focus on concepts...just go through all the variety of problems. Marginal Costing is Vast....every problem seems to be new...so just focus on the concept..and just hope the paper is not too lengthy, so that u have ample time to think and solve the problems. Don't ignore theory. There are a few theory compilations available on CA Club, cover them100%. That wud make the difference in crossing the 50 mark.
All the best!
Sushil
(CA Final Student)
(2571 Points)
Replied 19 April 2010
Mythreya
(Finance IT & Accounting)
(2183 Points)
Replied 20 April 2010
Luneau,
You can do it easily!
First brush-up the first day your previous knowledge in OR thoroughly.
Then,focus on conceptual knowledge as Ajay says in Marginal Costing---try to work out just 30 problems in a day which covers a wide variety of situations.Dont stress out too much.
Third day,take up the Standard Costing gauntlet and brush-up your previous knowledge and concentrate again on conceptuality.
Fourthday,take up theory with some easy chapters like Value-chain,ABC and TQM.
Fifth day cover theory with Budgeting(Budgeting is easy if you get the hang of it),Relevant costing and Transfer pricing.
Sixth day,workout problems from past compiler in all chapters plus revise what you have done the past 5 days.
Seventh day revise DAMN fast all that you have done the 6 days atleast four times(its possible).
8th day sit and write the exam with confidence(dont bargain confidence with anything else.Half the students lose out here despite great prep) and get atleast 50 plus.
Yes,you can!
Best of luck!
Mythreya
Luneau
( )
(38 Points)
Replied 20 April 2010
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Originally posted by : Mythreya @ Mythreya t hnx a ton. U make it sound so interesting and doable. thanks. I shall follow tis and keep u posted on the developements. |
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Luneau, You can do it easily! First brush-up the first day your previous knowledge in OR thoroughly. Then,focus on conceptual knowledge as Ajay says in Marginal Costing---try to work out just 30 problems in a day which covers a wide variety of situations.Dont stress out too much. Third day,take up the Standard Costing gauntlet and brush-up your previous knowledge and concentrate again on conceptuality. Fourthday,take up theory with some easy chapters like Value-chain,ABC and TQM. Fifth day cover theory with Budgeting(Budgeting is easy if you get the hang of it),Relevant costing and Transfer pricing. Sixth day,workout problems from past compiler in all chapters plus revise what you have done the past 5 days. Seventh day revise DAMN fast all that you have done the 6 days atleast four times(its possible). 8th day sit and write the exam with confidence(dont bargain confidence with anything else.Half the students lose out here despite great prep) and get atleast 50 plus. Yes,you can! Best of luck! Mythreya |
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CA Sultan.........never quits
(Financial Controller)
(511 Points)
Replied 20 April 2010
Dear Mythraya,
Is it possible to work out 30 proplem of marginal costing in a single day? I am a final student and also working. I don't have much time to prepare.Only before the exams i have to take the leave and prepare.
Please advise how to do it.
Regards
Sultan
Balaji Sarangarajan
(MBA & (CA Final))
(1131 Points)
Replied 20 April 2010
| Originally posted by : Mythreya | ||
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Luneau, You can do it easily! First brush-up the first day your previous knowledge in OR thoroughly. Then,focus on conceptual knowledge as Ajay says in Marginal Costing---try to work out just 30 problems in a day which covers a wide variety of situations.Dont stress out too much. Third day,take up the Standard Costing gauntlet and brush-up your previous knowledge and concentrate again on conceptuality. Fourthday,take up theory with some easy chapters like Value-chain,ABC and TQM. Fifth day cover theory with Budgeting(Budgeting is easy if you get the hang of it),Relevant costing and Transfer pricing. Sixth day,workout problems from past compiler in all chapters plus revise what you have done the past 5 days. Seventh day revise DAMN fast all that you have done the 6 days atleast four times(its possible). 8th day sit and write the exam with confidence(dont bargain confidence with anything else.Half the students lose out here despite great prep) and get atleast 50 plus. Yes,you can! Best of luck! Mythreya |
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Hi Mythreya
really great thought.
can you also suggest how to prepare mics, dt, idt
since i am just going to start my preparation from scrap and i am working in foreign land.
thanks in anticipation.
Mythreya
(Finance IT & Accounting)
(2183 Points)
Replied 21 April 2010
| Originally posted by : sultan | ||
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Dear Mythraya, Is it possible to work out 30 proplem of marginal costing in a single day? I am a final student and also working. I don't have much time to prepare.Only before the exams i have to take the leave and prepare. Please advise how to do it. Regards Sultan |
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When I said 30 Problems it was meant for that person as he already has some idea.
I normally do not advice such shortcuts(or cramming) but sometimes you are forced to cram for the exam,even then I feel with proper planning,and being confident;one can win!
Mythreya
Mythreya
(Finance IT & Accounting)
(2183 Points)
Replied 21 April 2010
| Originally posted by : sultan | ||
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Hi Mythreya really great thought. can you also suggest how to prepare mics, dt, idt since i am just going to start my preparation from scrap and i am working in foreign land. thanks in anticipation. |
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I dont advice cramming.
However,if you are really desperate and lack time,then you may read just important chapters from MICS like Cyber laws,info security,computer fraud,etc and then the rest just read thoroughly from compiler.Read just 12 chapters and go-- not all in MICS.12 important chapters...the rest just go through fast and try to recall whatever is easy.
Direct Taxes--This subject needs thorough study,last minute gimmicks dont work much.But then you can do one thing--read PGBP,Capital gains and Wealth-tax in 3 days;then finish assessment chapters and then finally taxation of various entities fast from some easy book like Bangar...every day read 4 to 5 important deductions...and you are all set.
Indirect Taxes--finish Service tax in a day(15 marks);then go to customs act and finish that thoroughly next 5 days(30)--then read classification,valuation,basics and if time permits something of chapters other than cenvat in excise.CENVAT is big,you cannot finish it all in the last minute.(But like this you get atleast 10 to 15 marks)
Then read common topics(5 to 10 marks)...
This way you easily assure 50% in all the three subjects.
In the exam---take the easiest question first and finish that,without panicking about the rest of the questions.Then take the next easiest question,like that keep going.
DONT LEAVE ANY QUESTION IN THE EXAM.Whether you know or not,just write something...dont have hangups or ego-probs or be a perfectionist here,just write whatever damn nonsense you want to write which comes to your head(without jamming too much!)--who knows! something might pop-up from your subconscious mind and you maywrite a good answer.But by leaving the question out,you just lose the full marks.The examiner also gives partial marks and every SINGLE mark counts for CA...Trust me on this!
What Im giving is just a cram-guide for last minute.THIS IS NOT THE WAY TO prepare professionally for an exam like CA,but I do understand that sometimes S*h*i*t happens!
Best of Luck,
Mythreya
Mr. Mythreya, you remind me one of our inactive members Mr. Vidyashankar
Aishwarya
(CA Final)
(340 Points)
Replied 23 February 2011
Hi Mythraya,
Your strategy for group 2 is very helpful and also awesome. Can you also do it for Group 1? It will be very much useful for people who are preparing at the 11th hour.
Thanks
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