CA FINAL TIPS

CA Dhiraj Ramchandani (CA, M. com) (10818 Points)

03 March 2010  

CA Final Tips

(Especially for Self Preparing Students for May/Nov 2010 Examinations)

 

 

1. Advanced Accountancy

 

  • Read the latest edition of Padhuka
  • Read the latest edition of Taxmann (D.S. Rawat) for Accounting standards (June 2010 Edition for Nov 2010 attempt). It will be useful for Advanced Auditing Paper also.
  • Read Suggested answers from Nov 2002 [Alternatively one can read ICAI Compilation for Advanced Accounting (May, 1996 – November, 2006)]
  • Do all problems given in ICAI Material ( Some problems will be covered in Padhuka)

 

Compulsory questions in the Examination:

 

One question each from 3 chapters, namely -

  • Valuation of assets, goodwill, business and shares
  • Consolidated Financial Statements and
  • Accounting for Amalgmations and Reconstructions

– In total on an average 50 marks

 

Other Important topics:

 

  • Accounting for Not for Profit Institutions (Theory is also Important)
  • Value added Statement (generally given in Nov. Attempt)
  • Economic Value added statement
  • Human Resource Accounting and Environmental Accounting (Theory)
  • Companies (Accounting Standards) Rules, 2006
  • Important Accounting Standards – 9, 10, 11, 12, 16, 17, 18, 19, 20, 22, 26 (These ASs are also important for Auditing Paper. Generally problems from ASs in thick letters will be given in Accountancy paper) Also read compulsorily ASIs given in relevant AS in  D.S.Rawat

 

Important Guidance Notes:

 

  • Guidance note on Accounting for Equity Index and Equity Stock Futures and Options
  • Guidance Note on Treatment of Expenditure during Construction Period
  • Guidance Note on Accounting for Investments in the Financial Statements of Mutual Funds
  • Guidance Note on Accounting Treatment for Excise Duty
  • Guidance Note on Accounting Treatment for MODVAT/CENVAT
  • Guidance Note on Accounting for Credit Available in respect of Minimum Alternate Tax under the Income Tax Act, 1961