ANKUR GARG SIR POSTINGS...

How to start your exam preparation

Well friends, “How to start Exam preparation is indeed a very vital question” which float over or threatens every student after getting enrolled for a professional course. As per my personal observation most of our precious time wasted to figure out how to start our Exam preparation. Believe me exam time is not the most stressful part of your professional journey, if you plan your study well in advance and study on a regular basis.

I have received lot of Personal messages (PMs), Profile scrap and E-mails from caclubindia users asking how to start Exam preparation in the most fruitful manner. So with the help of this write up an attempt has been made to share a few suggestions regarding how to start your Exam preparation. Sincerely hope that this write up would help you to deal with high degree of pressure to perform well in professional examination.

SELF STUDY Vs. COACHING

                           Vs.             

As per my understanding your very first step should be to decide whether to go for coaching or self study. Consider this question very vital for a good start of your preparation. You don’t have to wait until exam time approaches. Make up your mind from the very beginning otherwise this question may be converted into a big dilemma later on. Regarding advantage and disadvantage of self study or coaching, I would suggest you to go through my article “Self study Vs. Coaching classes-A Whole new dimension with analysis” available at the link mentioned below:

 SELF STUDY VS. COACHING CLASSES ANALYSIS

ROLE OF SCANNER

Buy a latest Scanner from the market and analyse it properly. According to me full understanding of Scanner regarding how to use it, is very essential as it gives you a bird’s eye view of every subject of your professional course. These days solved scanners also available in the market. Based on my previous experience I’d suggest you to buy Shuchita Publication Scanner. For more details click the link below:

      WWW.SHUCHITA.COM

SELECTION OF REFERENCE BOOKS

As I have already stressed in my previous articles that selection of appropriate reference books is really important.  One of the essential and indispensible suggestions to start your exam preparation is to collect good reference books well in advance. Here we cannot deny the importance of study material provided by the respective institute. For correct course content and notes preparation one must also refer study material along with reference books.

Along with selection of reference books in advance it is also advisable to collect exam oriented notes from the very beginning and stick to them. Kindly check the link below to download some useful exam oriented notes:

EXAM ORIENTED NOTES AT ONE PLACE

DESIGN A STUDY SCHEDULE IN ADVANCE 

It is really essential to develop a study schedule before starting exam preparation to help you study effectively without any stress. The same is also very essential to avoid the situation as depicted in the picture above. Prepare a list of Exam oriented important chapters with the help of scanner and design your study schedule accordingly. The earlier you perform this exercise, the more time you will have to design your study schedule and prepare for the examination. Remember a few things while preparing your study schedule. Figure out the length of course content you need to prepare along with the time required to cover the same.

TIME MANAGEMENT – A KEY FACTOR

Time management is that wonderful skill which we have to learn and develop sooner or later during our professional journey. Time management is a technique with different dimensions and it can be defined through various means. Being a student after getting enrolled for a professional exam you’ll get ample time to your credit. Proper and prolific utilization of this time is really essential to clear your exam in first attempt. So in this way and to prepare an effective study schedule time management is very important. You have to grant most favorable time allocation to each and every subject. Also make appropriate provision for revision of course. So focus on time management and keep asking you – Is this the best use of my time. This is to share with you all that am still using this Q and A technique.

FOLLOW EXAM SUGGESTIONS AND TIPS FROM THE START  

As we all know there are always some methods or tricks to perform well during exam times. Keeping in view your ultimate goal there is no harm if you acquainted yourself with these tips or tricks well in advance and tried them during your initial stage of study as later on sudden adoption of these methods may reduce their effectiveness and create unnecessary perplexity. One of these tricks is to prepare a list of frequently asked questions from scanner and design your ATLAS accordingly. To view the details of “My ATLAS Method” click at the link given below and download my file titled “real time tips to deal with theory paper”. Sincerely hope that this method can bring a huge difference to your professional success. 

ALL MY EXAM TIPS AT ONE PLACE

UNDERSTAND EXAMINATION PATTERN PROPERLY

One important question you need to answer is – what is the current exam pattern? In other words understanding of prevailing examination pattern in a proper manner is also very important for a good start to your exam preparation. If you have good understanding of Examination pattern then you can easily plan for exam paper according to your strength. For example in Audit or Law papers attempt flat questions first like short note etc. instead of practical problems as practical problems are a bit time consuming.

TIME ALLOCATION

Another question which comes into mind regarding how to start exam preparation is how much time is needed in the beginning to study. As per my personal opinion in the beginning it is not necessary at all to invest 10-12 hours a day for your study. A 5-8 hour productive study would be enough. Remember, it is the quality and not the quantity of study that is required. However it would be better for you to decide your study sessions as per your own aptitude/capability.

QUESTION YOURSELF or SELF ANALYSIS

Self analysis is also necessary to figure out that everything is going as per your plan. A well defined study plan is not a guarantee of success unless executed in toto. So you may test your preparation by attempting some previous exam paper under ultimate exam condition or environment. Later on check the result of your effort and make necessary correction/modification to your study plan. These kind of regular tests also helps you to understand your strengths and weaknesses. If you are weak in any area, you can remove that weakness easily by detailed study.

KEEP YOURSELF UPDATED

After each and every exam (presuming that your exam is due after 1-2 attempts) discuss the exam papers with your friends and prepare minute of your conversation with your friend and also note down your friend’s opinion/suggestion. This discussion will be very helpful to decide the correct exam preparation approach and keeps you updated with latest trends and exam pattern. I personally used this method throughout my professional study very successfully.

Disclaimer:  The content and every thought used in this article is based on my personal observation and understanding. This Article is completely my work and not copied from anywhere.

Hope this Article would be off some help during your professional journey. Awaiting your kind responses on the above mentioned points. Please share your views along with your valuable comments/suggestions/guidance.

Wish you all the Best

Best Regards

Ankur Garg

For those who did not pass last CA Exam

Well through this simple post I would like to convey something to those students who did not clear their CA Exams in May 2010 for certain reasons. My message is quite clear. Have a look at it:

Hey Friends...believe me you do not need any special advise....as am sure that your preparation is absolutely fine...all you need to do is just continue your efforts with full force and concentration...

According to my best judgment at this point of time any significant change in your preparation strategy is not required at all as unnecessary shuffling may harm or destroy your preparation flow, hence doesn’t make any sense. But I would advise you to review your preparation method or style positively and update the same accordingly. In short there is no need to panic regarding your preparation.

This is also very imp keeping in view your previous efforts...Failure is not the end of life but it also brings a ray of hope that I’ll clear my exam in the next attempt. In the end I would say --- have faith in your abilities...

There is strictly no need to lose HOPE and it’s time to work out a winning strategy keeping in view your past mistakes. It is high time to identify your past mistakes and come out of the trap as success is just round the corner—waiting for you.

Also request you to kindly observe the points below, shared earlier so many times, to register mush awaited success in the coming November 2010 attempt:

1. You are requested to stay away from negative thinking…like you are weak in theory or numerical. If you are not comfortable with any topic or subject then think and figure out a plan to deal with the problem. Remember only you can design a plan for yourself because you are well aware of your strength and weaknesses. So just grow up…

Correct approach is to prepare a strategy to deal with the subject or topic not amongst your favourite, rather than running from the subject or topic.

2. Keeping in view your previous exam experience prepare a proper study plan and study according to the same.

3. Prepare a good revision schedule and follow the same strictly. One of the main reasons of failure is lack of revision. Also review your revision schedule after a certain period and modify the same accordingly.

4. Do not change the books and notes quickly. Stick to the notes and books used from the very beginning. After completion of them you may refer other notes for practice purpose.

5. Also refer ICAI study as it contains the entire course at one place. Further it is advisable to refer Study for some topics which are important form exam point of view but never asked in exam.

6. Discuss the topics with your friend for better grip. Well this point is very important for that student who complains about their weak memory. Do not dare to ignore the importance of this point.

7. In CA and CS Exams Scanner plays an important role. So it is advisable to complete your scanner with the help of ICSI Guidelines or ICAI Suggested answers of previous exams, as the case may be.

8. During second time study—you must be aware of the important topics so prepare some effective and to the point short notes. Refer them later during revision.

9. Prepare short notes for frequently asked questions and revise them properly.

In second attempt it is your duty not to leave anything from your course. In short give a proper reading to all the topics or at least discuss them within your friend circle for a better grip.

10. Last but not the least have faith in your abilities. I know you can do it.

Forget the last negative result as it was just a matter of time and was there to give you a message for your whole life. This message can be read as under:

“Don’t be afraid of failure…and keep up the positive energy and keep Moving towards your goal. You will definitely succeed one day.”

That’s it from my side. Wish you all --successful November 2010 attempt. Happy reading.

With Warm Regards,

Ankur Garg

How to cope up with Exam Failure !!!

Dear Friends,

Again the season of CA results has come…some students succeed and some are instructed to work hard again for next attempt. Through this write up I would like to make you understand the importance of a relevant and one of my favourite saying “Failure improves the taste the victory”.

No doubt all the students who have succeed in this May 2010 attempt deserves a thumb up so I’d like to congratulate them for registering a success in CA Examinations by putting such enormous effort.

Remember Success or Failure is a different thing altogether. Even if you did not do well in exam and got failed, there is really no need to panic now. Obviously it feels terrible but let it be. Failing exams does not make you a failure in life and most importantly it is not the end of world.

You are requested to please take note of some of simple points mentioned below to cope up with exam failure:

As per my observation don’t get depressed to get the negative result as this may lead to some unwanted action from your side. Kindly observe sometimes the margin is very small like you may miss the success by 5-7 marks in aggregate. This gap is not difficult to fill in the next attempt as our ultimate aim is to clear the group.

Try and figure out the reason for negative result. There may some lack in the revision strategy or preparation. Just find out the exact problem and promise yourself to remove the same.

3.         Maintain your self confidence

Believe me no problem can be bigger than lack of self confidence. So just maintain the same. Remember there are lots of students facing the exact situation like negative result so there is no need to exaggerate the things. Just relax and think what went wrong. Just one failure and start getting frustrated is not what CA is all about!!!

I fully understand that under pressure, everyone has moments when they feel unable to cope, but sticking to a realistic positive approach will keep your confidence afloat. In this situation self assessment is the best thing to do and believe me only you can help yourself by searching out the best possible solution to your problem.

As per my experience one of the main reasons of exam failure is a complete failure of revision strategy. So I urge you to prepare and follow or stick to a realistic revision plan as this will again keep your confidence afloat. If you're charting your progress in this way, you're less likely to get intimidated by the workload and end up throwing your hands in the air.

Prepare a revision plan and keep updating the same keeping in view the level of your exam preparation.

After the negative result discuss the things with your teachers or friends and figure out the reasons of failure. This positive discussion will surely help you out to get over the negativity around you. You are requested to consider this point important as this point help you to get out of such moments of frustration and prevent you to take a disastrous decision.

Try and search all possible solutions and help available to succeed in Examinations. Analyse your study methods with the help of your tutor or friend and be ready to change your study style, if required. However drastic changes to study pattern are not advised.

Some of my personal observations as far as good preparation is concerned are as follows:

i.) Focus on conceptual study and clarity.

ii.) Base your study on Scanner along with suggested answers issued by ICAI

iii.) Discuss the topics with your friends for more clarity.

iv.) Keep working on your writing and presentation skills

v.)Do not get confuse between self study or coaching. Decide quickly.

Some of my previous suggestions regarding exam failure are as follows:

In case of exam failure there is no need to blame yourself or your institute or anyone else. It is perfectly all right. Kindly appreciate you are not the only student who got negative result. It happens in professional exams. So nothing to worry about and just move ahead and move with the flow and believe me things will be all right soon.

Suicide is not the solution of anybody’s problems. All the problems in this world are of temporary nature with permanent solution. On the contrary I would advise you to love your problems as you can learn a lot from your problems and in fact they are in your life to teach you something really indispensable. I personally feel that suicide is a selfish act, the victims of which are your family, parents and friends who cares for you. The pain of losing someone close can be devastating and reason or circumstances under which you lose that someone doesn’t make any difference. Before committing suicide one must think that there is hope and there is answer to every problem and failure of life. A foolish step can adversely change the life of those around you. Please think about it. I would urge you to be a bit strong in life and stay away from any kind of suicidal tendencies and thoughts.

Hope I’m able to bring something constructive through this brief write up. In the end I would like to submit that have faith in your abilities and blessings of your parents. You are humbly requested to please share your kind response on the above mentioned suggestions/points.

With Warm Regards,

Ankur Garg

All My Exam Tips at One Place: Revised

THANKS TO ANKUR GARG SIR FOR NICE ARTICLES...

CA SURENDRA KUMAR RAKHECHA

REVISION OF WHOLE SYLLABUS IN DAY ONE AT THE TIME OF EXAMINATION :

MAKE IT POSSIBLE WITH THIS SMALL PIECE OF RESEARCH

** CA SURENDRA KUMAR RAKHECHA **

1. Syllabus is too lengthy and it is difficult to imagine that every subject can be revised within day one. 

2. Many students find that more they read; more they get confused specially on exam days.

3. As the exams come near; confidence disappears. 

4. The fear of uncertain CA exam paper pattern is one of the biggest enemy.

5. The available time is not sufficient for revision.

6. Mind does not work (loss of memory due to exam fear).

7. Health disturbs due to fear of failure.

BELIEVE ME; IF YOU ARE NOT CONFIDENT RIGHT NOW; THEN SURELY YOU WILL NOT GET SUCCESS. 

When this is the result of poor confidence then why to disturb yourself ? 


Be confident and ensure yourself what do you know about the subject ? If you can say about all the topics pointwise; then it is almost sure that you can appear well in the examination. 


BUT THE BIG QUESTION IS HOW TO REVISE POINTWISE SPECIALLY WHEN ONE COULD NOT MAKE NOTES DUE TO SHORTAGE OF TIME.

The following is the solution (Students don’t have enough time to read long suggestions specially at these moments). 

1. Go to Index part of your Book

2. Refer each heading

3. Say something about that heading

4. If you are not able to say something about it; refer only two lines of a paragraph by opening the respective pages given against the heading

5. Come back to the Index

6. Carry on the whole book in this way 

7. While carrying out above revision; don’t touch typical questions

8. Within 6 hours you can complete your major revision on exam day

9. Now Refer typical questions marked beforehand

10. If still you are not confident; leave typical question to your fate (Otherwise your whole study will get disturbed). 

11. Focus again on the Index and revise it to boost your confidence. 
 

ABOVE ALL; BELIEVE IN YOURSELF FIRST AND THEN ON GOD. 

MY BEST WISHES TO ALL.  
 

SIXER ON LAST BALL :

(Say to yourself)

 
I AM READY TO FACE THE NEXT BALL (THE FIRST ONE WAS A BOUNCER).

“REASONS OF POOR MARKS SCORED IN CA EXAMS"

-A Research on Study Patterns adopted by one student - with added flavor-

**Presented By – CA Surendra Kumar Rakhecha**

Specially written for caclubindia users. 

Unbelievable marks are scored by most of the CA students. They think that we attempted the full paper; but marks are not up to mark – even 40s were not allotted ! 

Since nobody is there with whom they can discuss the reasons and correct the mistakes hence the mistakes are not found. These remain hidden.

The result is - the same result as the previous one – again and again. 

It is really a very unfortunate state for the students and their parents. Parents also can’t understand what are the faults with their children. But, if it analyzed with pen and paper; the mistakes can be revealed easily. 

On yesterday evening; one 118 kg. PCC 3 times failed student came to me for help. Despite having best coaching in Surat, he was unable to draw the “line of best fit” (read Cost Accounting, if required) to get the success. On

discussion; he disclosed that he is unable to conclude where is the mistake. I asked him certain questions and the following facts were revealed. Since I noted each and every discussion in front of him; hence he was satisfied.  

The question-answer session was as under :

            Question                                              Answer

1. What is your major drawback      :   Lack of Concentration, Sir ! 

2. Why                                            : ?? 
                                                           (to know this; I have come here)
3. (From reaction of Q 2)-

 
I asked - because you think that
you have already read all the
materials                                            : Yes

                                                           
4. (Noting the misconception)-

Do you think that you are good in DT: No
 
5. (Judging his genuineness)-

a. Do you have any bike                     : Yes

b. When you learned riding,
  were you confident in a week?          : Yes, but……no....in a month, I think...

c. Whether learning was interesting     : Yes, of course !

d. When you learned it well; then I
think the Riding became boring           : No… it became more interesting.

e. Why                                               : ?? .. You know.. it is interesting !
                                                            (Why you ask such question?)
f. Do you agree that learning is 
interesting whatever is the area           : Ya 

g. Do you learn while you read            : ?? Can’t say….but may be…

h. You read subjects because these     : Ya
are in the syllabus                                 (What a foolish question?)

i. It means whatever you read;            : Something we  learn….
there is no learning                               (here “we” represents all CA students?)

j. Do you think – that “something”
is enough to pass                                 : ?? 
                                                             (Neither yes nor no)

k. (Looking to his weight, I presumed)

In how many activities you participated
in your school/college days                   : ?? 

                                                              (Not Applicable to me, see my weight !)

l. Say subjectwise marks you scored     : Not sure, but sure that these are poor. 

                                                             (Lack of concentration proved-See Q 1 !)


m. Give me your last Roll No.                : 16yz3 
(so that I can check on net)

n. I checked; but Name was different : …………..(loss of memory for time being)
(although Roll No. was correct 
which he told-he verified also)

o. I asked – It is not yours, then?          : Sir, try 16zy3

p. I tried                                                : and the attempt was successful !

q. These are the marks 
scored by you                                       : Ya, (consistently 30 to 35) 
                                                                (in all the subjects, all the time!) 

r. Do you come from English Medium?    : Ya 
                                                                (very fluent in English!) 

s. Where do you live                              : ( Replied )  

t. How many members are there            : Only 3 
                                                                (idiot question !)

u. Do you have friends who are
pursuing CA                                           : No

v. Do you use internet                           : Ya

w. Which sites                                        : ….just for chatting !


x. Do you know caclubindia                   : No 
                                                               (My club is different – it’s different !)

Although full alphabets were not covered in the questionnaire, but I concluded that the letters “yz” have been properly covered when I asked his Roll No. (See point number o above).

Not a single point was there where I could give him some marks ( although I am liberal, you can presume - from my above statement) Can readers tell me now where was he lacking ? 

Try yourself in all the above questions and note down your study patterns to discuss it in length with your friend circle…………... 

If we take the above questions as asked in an Examination, we will conclude that mostly he has given correct answers. 

Fully Correct : 1, 3, 5 (a, b, c, d, f, h, l, o, p, q, r, s, t, u, v, w)
(Yes is treated as a correct answer)

Wrong : 4, 5 ( i, m)
(No is treated as a wrong answer)

Not Knowing : 2, 5 (e, g, j, k, n, x)
(?? .is considered as left unattempted)

(Readers are free to make any type of analysis…..but, I am sure that the result would be one and same).

On the above analysis; I ask one question; whether he should be declared successful merely because he has given most of the answers correct one and rest can be ignored…….

Sixer on Last Ball ! 

ONE  SHOT  SUCCESS  IN  CA  

A Crispy  Motivational Dose

Presented By – CA Surendra Kumar Rakhecha

Specially written for caclubindia users.

CA  Course : A Dream of Every Commerce Student

From initial level till qualification; there is no difference between Cricket and  Chartered Accountancy Course.  Despite having tough net-practice; either your performance is outstanding or you are out in the very first ball.  You have seen Virendra Sehwag being out in very first ball; but it does not mean that he is not a performer.  Similarly; the students who pursue CA course; despite having abilities; are unable to perform well initially.  A student “qualifies” accountancy in XI, XII, CPT, B.Com, IPCC but such 30% “qualified” students fail in the very first paper of Accountancy in CA Final ! Whereas this is the core subject for all of them. On the basis of interest in accountancy; they joined this course !

So we are forced to think about some peculiarities of Chartered Accountancy Profession. Although; after qualification of CA; there is only repeated performance and no question of failure !  In this sense; it is better than Cricket.

Major Mistakes Committed By Students :

Mostly asked question is – “Which book is good to pass a particular subject ?”  This is the story of CA Final Students! Whereas the Institute expects that these students will be able to solve the problems of the clients. It does not mean that students should not ask questions regarding good materials. What I want to say is - at the initial level of CPT; guide  should be taken for the whole CA Profession.  It is my experience that students come to know only about CPT.  Despite explaining them that CPT is not the only criteria to get success in CA. The real test will start soon after you pass CPT. But answer which I found is that – “We (student and parents) will see later after CPT.” 

And they really see what happens after CPT !  When proper guidance is given they ignore it and when result is failure then they say we were not given proper  guidance!

Unplanned Career

There are at least 50 different careers which emerge from CA Profession alone. I ask students at the time of training; in which area you wish to make your career. The answer I found is – We will see after passing CA Final !

Most of the students do not make any planning in which field they wish to go. Excellency is required in a particular subject to make a concrete career.  Even a single topic of a subject  may give  excellent career.  I quote here renowned CA Vimal Punamiya, Mumbai – “At the beginning of my career I searched so many areas to start with; and ultimately I found “Search and Seizure” as the best one. No other section of Income-Tax is required to deal with .”  

Do you still think  that CA students will get one shot success without planning and implementation thereof ?  The behavior of most of the students is to take the training as burdensome, books as typical one, amendments as harassment,   seminars as killers of time and so on ! 

When you go for a CA qualification; there are several alternatives before you to make a career.

Unlike medical , engineering and information technology; a CA can switch his  area of specialization any time during his life time !  

Despite that; I wonder why most of  people tell  science and engineering stream as one of the best ?

But availability of so many alternatives make the student reluctant to focus on a particular area of interest.

Unplanned Coaching

All the students who are registered with the Institute are not in a position to get proper coaching. In small cities; even books are not available. Most of the students are not properly guided about the differences between graduate level examination and professional level examination. Even if told about this; is rarely understood.

Till graduation; hardly any question is asked in the examination  which is out of syllabus. So while pursuing CA also; students tend of “complete “ the selected book and think it as  OK.

At the time of reading the question paper in the CA examination; students realize many of the questions raised were not available in the books although the book was suggested by one of their peers.

The answer to this question is never found by most of the students even after passing CA Final. The moment they get aggregate; they feel it as A Gate Way of Success (so far facing Get Away of Success)!

The reason is this – even many of qualified chartered accountants do not regularly read  (Free) CA Journal and  (Paid)  Professional Books.   Why ? The habit of reading was not created during the training.  It was always treated as burdensome.

“Continuing Dancing as explained above” ;  now see the another part. In one of the episode telecasted recently the shooting of which was held in Baroda;  four participants from Baroda came, performed and were selected one by one. After that one more participant came.  He performed well and judges asked him not to say that his Guru is Dharmesh because previous four participants told that their Guru is Dharmesh. This guy says – I am Dharmesh ! Judges could believe only when he explained that all the previous four participants are his “shagirds.” 

U N B E L I E V A B L E   P E R F O R M A N C E  I have ever seen ! 

AND SEE THE GREATNESS -  THIS GURU PRESENTED HIMSELF AS ONE OF THE PARTICIPANTS WHO CAN GENERATE SUCH PARTICIPANTS !  I salute him !

You have also read that Master Blaster “Sachin Tendulkar” still practice under a “Coach.”  Is it correct or not ? To tum kis khet ki muli ho ?

Adopt the technique of “Sachin” if you yourself cannot motivate yourself. (Two meanings are possible of this sentence) Kya Samajhe ?

Unscheduled Reading

Many students do not even open study materials for certain (predecided or undecided) months. The habit is to see them at the time when preparation is started for examination. And by the time they start reading; many study materials become outdated!  While basic concepts about the subjects are yet to be framed; flow of more confusions come from fellow students (fail-o-students). (Here O represent either zero or original failure as you choose!)

Now at the time of preparation of examination; students plan their reading through time table and at the end of every week they see it is not working! Most of the time; lapses are there to cover the desired level of syllabus.  As the time passes; “run rate”  becomes unachievable!

So start your studies immediately when you join the CA course and you will not find the situation – “short of time”. As you go further gradually; the term “short” would be converted into “shot.”

Unplanned Training

Dharmendra Soni, a Chartered Accountant  (qualified in Nov. 07 and member of caclubindia since 15 03 2008)- asks a question on caclubindia on 24 12 2009 – “Please any  one tell me what is accounting entries of excise duty provision on closing stock and what is entries next year to reverse the provision.”   Can you imagine that such students can pass CA Final Examination. They why not you !

You have seen the behavior of MBA and science students that they wish to do their course with the best available institute. In case of CA; most students think about passing examination only.  They are not so serious about their training where they have to spend three years.  Like passing CA examination; they also “p-a-s-s” three years training period.

The change in think process of MBA and CA students is due to charging pattern. For MBA students generally spend Rs.5.00 Lacs and in CA they hardly spend Rs. 40,000/- (which is reimbursed with thanks by their boss in three years) ! When you pay Rs. 850/- for your shirt; you will take more care than a shirt which you acuiqred for Rs. 300/-. Although it might be possible that more comfort you feel will with Rs. 300/- shirt. The moment students pay more in MBA; the student and their parents both become alert.  In CA; since the cost is negligible; hence neither students not parents become so alert !

During the training; students should develop their skills to know which type of work is being allotted to him after discussion with the clients by the boss. Try to understand the need of work. Think about it and you will get the answer.

In big firms; the problem is only at initial stage. Soon after they join the firm; the student get habituated with the system and he is absorbed well immediately.

Many a times; when burden of work is there during  peak audit periods; students tend to go on leave thereby losing good training opportunities.

When the office work is not so bulky; learn more about speed reading and writing, precise notes, mnemonic techniques, fast go techniques, meditation for concentration etc.

Do practice; think again and act fast. Above techniques will improve your performance to a great extent which are needed at the time of CA examination.

Not only extra ordinary speed is required but excellent knowledge is required. But don’t forget that Speed comes from Excellency and Excellency comes from Speed. Do practice those areas which are most typical and rest will be easy (already easy). Common mistake committed by the students is that typical questions are left to be referred later. Due to huge syllabus; that time comes only after result is declared !!

When books of account have not been finalized by the client and you have  regular discussion with him; read Accountancy with Accounting Standards, Cost Accounting and Management Accounting.

When audit work is going on in the office; read the books of Auditing.

When tax-audits are going on; read the books of Income-Tax.

And so on………..

Unplanned Group

Many students are so busy with books that they have rare connection with a group of students. Do you think that a Medical Student has to read less ?  The answer is no. Still; I have come across some resident doctors who are not even able to take a piece of bread during the day.  Super specialist is also not in a position to take such “facility.”  Many times; they enter into operation room at 6.00 am and operation ends at 4.00 pm. Till then they are not in a position to take even a glass of water ! Are you facing such special situations at the time of training ?  Still you can see some students complain about their tough training.

Although sometimes we see a strike from resident doctors which is actually in form of “creating” a break and at that time  senior doctors fill the gap as they know the reason well (due to their experience as resident doctor). And surprisingly; all the doctors enjoy their training ! Why – because of forming groups i.e. friend circles.

Many CA students don’t enjoy training because they do not wish to attach with a group taking it as a barrier to study. Even if it is so; sincere and disciplined students should form their own groups.  To enjoy Sundays; such groups can “present” their weekly “performance” thereby each one updating all the subjects.

Make 6 students group who have interest in different subjects. Each one should prepare one subject extraordinarily so that all subjects are covered.  On Sundays; they should present their reading in a Case Study Form i.e. Project Form.  The words used in the books A,B,C or X,Y,Z should be eliminated and some interesting names should be taken with change in figures also. In this way; each student will have in-depth study without bearing the burden of study and present the material in an easy way.

Better; if you can form a group of 12 students so that it will be more interesting to interact.  This will not disturb the whole group if someone is not serious about the preparation. Immediate action should be taken to rectify the deficiencies.

Unmatched Study Materials

It is very common that students don’t refer study materials altogether in a particular subject. Although from conceptual side these are very good.  It does not mean that just by going through study materials success will be guaranteed.  For example; to study Direct Tax; the study materials do not fulfill the need even upto 30% !

So students should have focus not only on study materials but also on compilation and other reference books. Regular reading of journals and magazines is a must. That is why many times whenever a latest question is asked in the examination; the student is unable to answer because he has never seen those  situations.

Non-interesting Subjects

Some of the subjects may not create interest.  The reason is that the utility part of the subject is not known to the students. For example; the subject of MAFA in Final. The formulae part disturbs the student who has not focused well on Mathematics during the CPT.  

Although each one subject is related to one another in CA Curriculum.

While auditing; internal controls are to be checked. Internal controls are set looking to the cost controls. So what should be the cost; is a major concern. Cost reduction is necessary for increasing profitability and to face competition and  recession.  While producing goods; provisions of several laws are to be kept in mind like Custom, FEMA, Central Excise, Pollution Control, Patent Law, Service Tax, Competition Law, Labour Law etc. etc..

To check the profitability; operating profits are more important.  If total profits are more; planning for Income-tax is necessary.  For this cash management is required. If most of the funds are packed in form of debtors; it would not be possible to pay even advance tax; as some of diamond merchants experienced last year.

Filing of VAT Return, ROC Return, Returns under various Labour Laws, Service Tax, Compliance with SEBI, Stock Exchange and RBI are also not only relevant but very very important  for Corporate Sector.

And above all; the discussion with the management. Directors Report are taken by students as part of formality which is to be fulfilled in the case of corporate sector.  Whereas; if genuinely read; it will throw light on the problems faced during the year by the company and future plans of the company .

If you know the connection of each and every subject; then you will ………………………………………………..……………(fill in the blanks).

Importance of Subject

While planning to read a subject; most of the students want to see “weightage” of a chapter according to previous examinations to score high. They are not bothered to take practical aspects of the subject.

Why ? Because of not knowing the importance of subject.  A lecturer teaching the subject of accountancy in college since last 20 years without any writings of his own; means he is not knowing the importance of his subject. He can give lecture on accountancy but; if given a practical accounting project; he will be unable to do it;  I challenge. Why ? Because he does not know how to use Tally Accounting Package!  He has  not valued Closing Stock practically so far !  He is  not having practical knowledge of Deferred Tax Provision. He has  not seen excise accounting. And this is the reason; he is there since last 20 years at the same place !  Otherwise, he would have achieved certain heights in his “profession.”

Same is the position of most of the Coaching Classes. They teach the subject but unable to convince the importance of the subject to the students. Many a students who have scored 90 plus marks in Economics in Standard XII; are not in a position to tell the importance of the subject in practical life! Would you say?  Is this e-d-u-c-a-t-i-o-n ?  

What will happen when the same criteria you adopt even in professional examination !

Can you say the importance of Accountancy?  If you know accountancy with proper application of accounting standards e.g. upto merger and amalgamations, proper provisioning of deferred tax, valuation of closing stock etc. then you can easily earn Rs. 50,000/- a month without having any professional qualification. Of course you have to choose an industrial city to earn such money.

If you are expert in Income Tax only, you can earn upto Rs. 10.00 lacs p.a. from this single subject.  (See the caclubindia where more than 20,000 questions have been asked on this subject alone).

And what is the valuation of FEMA ? Guess…….

Sixer on Last Ball !

Reading should not be a  habit;  it  should be a  pleasure !

C r e a t e   t h e    r e a d I n g   h a b I t  i n t o  a   p l e  a s u r e - w I t h  t h e   h e l p  o f   p o e m s,   m u s I c,  p e r f o r m a n c e   w I t h  d a n c e   a n d   s o  o n………..( keep it on )

Second SHOT  SUCCESS  IN  CA  

A Motivational Dose with Tears

-          Presented By – CA Surendra Kumar Rakhecha  -

Specially written for caclubindia users.

CA  Course : Another Attempt  

Now-a-days; it is said that CA results are good enough in comparison to old days. If  the result is around 30%, it is said - Good Results ! 

But nobody sees the tears of the rest 70% of students.   These 70% students feel that preparation were on the line suggested and working was also hard but just due to aggregate; result was not in favour. Some say that we revised the syllabus two times but still not got the mark(s).  

We live in Majority System. Most of the students will tell - we prepared a lot !

But “where is the mistake” is hardly answered.

So the preparation is again started on the basis of “trial and error.”

The “basic UNKNOWN mistake” is continued till the success is achieved “by chance.”

The basic mistake is committed at the time of “Revision”; because the subject matter is learnt well but without any further improvement on the understanding of the subject; specially the practical application thereof. (This improvement should be made in the line of recent  amendments, notifications,  case laws etc. also. While preparing notes; enough space should be retained to incorporate all these important aspects).

Got the Point !

So whenever you go for revision; apply your mind towards it !

Try to Think - What value I can add in the present notes.

Today; to get the success we must add value.  To have status quo of “Successful Person” we have to improve our performance regularly.

Practical Example:

You all will agree that the CA students have read about Accounting Principles & Accounting Standards so many times.

The “real” situation is - Even after reading the whole subject; most of the students are not able to explain clearly about  Accounting Principles and Accounting Standards.

Similarly; they are not in a position to tell the difference between Accounting Standards and Accounting Principles.  According to them; all this is Theory and accounting is concerned with  Practical Sums.

Why ? They just read the topic and make notes which are neither liked by the students themselves nor liked by the  examiner when answered in such form.  You cannot make the examiner happy in this way. You have to add value in the form of some live examples wherever you find it necessary according to the weightage of marks allotted to the questions.

If this simple question is put before even qualified chartered accountants; I think we will find “a lot of answers” which may be far from the “the correct answer.” 

That is why the Institute still treats these Accounting Standards as part of CPE Hours !

(Here I don’t want to comment on the “quality” of the Financial Statements certified by the majority of the chartered accountants – “Satyam” Shivam Sundaram !).

Got the Point again !

A large number of ex-students or the present students of chartered accountancy profession have “failed” to apply their Book Knowledge into Real Knowledge.

The sense of learning was not developed by most of the chartered accountants during their studies. That is why the Institute has forced them for Continuing Professional Education.

So dear one; rectify the mistakes from the root level.

Improve your “understanding” why we read accountancy ? To get the marks only or to have practical knowledge of accountancy ?

By just referring good books and good coaching you may qualify CA but you will not find ultimate position which a CA should enjoy in his life.

Sixer on Last Ball !

See the photo or statue of “Maa Saraswati” carefully.

What more I can say when  “Saraswati” herself retains “Granths and Mala”  in her hands  all  the  time.

“Granths” in the form of “Books” and “Mala” in the form of “Revision” !!  

So follow  …………….(Fill in the blanks).

THANKS TO CA Surendra Rakhecha

CA.ViVeK M ACA POSTINGS

A complete Guide to become CA

To become a successful CA is your ultimate Aim. So your mission is “To become a Successful CA”. This mission is long term goal.

To become CA is a good goal. Any one can take this decision. Every one is pretty success in their long term goal.

Every goal requires systematic execution.

1) Planning daily routine study

Plan your daily routine according to the group you are going to write and your specific goal such as Rank.

Specific action plan for tough subject

You are required to identify toughest subject, allot more time and specific action plan to improve toughest subject.  Normally students spend more time in interesting and easy subject and not giving due weightage for difficult subject. If a subject is tough, then think counter plan to make the subject easy by more involvement in the subject or attending best coaching classes.

 Best Reference book along with ICAI study materials                                    

I highly recommend buying best and good reference book and keeping the ICAI materials as reference book. A good book can make the study process interesting and easy. A best reference book can become your Good teacher and can make the subject easier.

2) Daily routine study

It is a second essential requirement. First you are required to make a daily time table and try to stick on that. Never mind even if you are not carrying studies according to your time tables.

Allocate difficult subject in your most productive time and easier subject in your most exhausted time.                       

3) Systematic study

You are doing professional course and hence your best approaches in colleges and schools may be a failure.

How to do a systematic study?? Never do a by heart method of study. If you follow a practise of doing by heart method, may be fail in front of a practical question.

 You have to read the subject with full concentration. Try to understand the logic behind it and you are advised to note the logic and concepts in a note book. In text book you can mark important area with light marker pen.

You are compulsorily required to write down in a note book in your way and language. Good notes must contain heading, Points with key words. If you read the key words you can reach to the logics.

4) Periodical revisions

You are required to revise what you had learned in a good quick section. I highly recommend in initial stages to find some time to remember what you had learned a particular day. If you careless in revision aspect, you will be a poor learner.

5) Two round coverage before exam

You must compulsory cover at least one round of studies before study leave and do one round of studies during your study leave sessions. In this stage, you are requested to look in to suggested answers and scanners and more specific to your examinations.

6) Test papers

I strongly recommend writing test papers conducted by ICAI etc before you are going to take the real exam. Even if you had prepared not well also can take such test papers. Else, you may be taking real match without net practise and may be out in the first ball.

All the best

Vivek M

How can you pass your CA May 11 Exam

Most of the students now also think that the CA course is difficult to crack. It is not true. The institute cannot deny your legitimate students. There is no particular passing percentage as far as a CA course is concerned. There is many mistakes committing the students without knowing the facts that they are committing the mistake.

The ICAI had out some standards and quality over the course and it is really warranted.   Once the bench mark is removed then CA Profession will lose its prominence and just become a Lawyers course or MBA course.  If we had taken some precautions for the situation we can avoid the failure.

Surprise and twisting question

Aim behind the surprise and lengthy questions

The main purpose of such questions is to test the problem solving and analytical ability of the students.

Scope and  coverage for CA  Final exam

The CA exam question is not limited inside the ICAI material or prescribed reference book of the authors. If the surprise element is comes students losing their confidence and which  is lead ultimately to the poor performance  and ultimately the failure. Even if you had  covered the scanner or suggested answer , you may be need to face challenging question in the exam

Traditional method of study

Those who writing the both group is unfortunately the prey for such disaster as they may be covered the material and suggested answer and even scanner.

If the similar type of questions appears in the exam they can crack but what happened if the surprise questions set. It is the slippery point set by the institute and many students will fall in to that pit. This is the main reason I think the both group student were failing aggregate mark for CA final. If you see the result trend of previous final exam, you can see that passing % is only 7.08%only.

No one is imagining about the surprise pattern of the question, so, it will affect to them only at the time of exam. In short student were fail to face the surprise set by the examiner in the exam. You just think that if the question set in the exam is surprise, obviously, it will be surprise to the others also and the over all performance of the students will be not up to the mark. Generally ICAI will not be tight in the valuation aspect. if you had written all the good point s to the questions you may be rewarded else, you will be out of the track.

What is the solution for the above problem?

First set in your mind that some surprise question will be set in the exam. Prepare mentally for cracking the surprise question. If you are sound in concept or you have good conceptual clarity, you can manage the surprise questions.

Concept Play a good role in the CA final Exam

Please understand the concept underlying the problems. The institute will not ask any irrelevant questions. All the questions are  based on the concept. This correction you need to be made during  the time of study. The surprise questions are the same concept with better question which may be outside the ICAI module , suggested answer or scanners. The clarity in the concept will help you for dealing such type of questions.

Effective method of studies

Step no 1

Understand the concept underlying the problems

Step no 2

 Read the problems and try to solve it  using the concept and without using the solutions.. If the solutions with you , need not work your brain. The same is the situation of those who under gone for coaching classes . Doing  the problems with full solutions . This will enhance your thinking process and the same practice will surely help you for finding the solution for surprise gift given to you by the institute.

Note: - The above practice will consume your time..But if you not  doing the above manner ,  you cannot handle the surprise questions in the exam  . In the exam hall  the students will be pressured .

Step no 3

Refer the scanners and suggested questions for Past years, this will give you variety type of questions….Please try to make a trend by referring the past questions as past is the base point for future.

Step no 4

Making a good notes of concept

Step no 5

Good time management skills

Surprise and lengthy questions requires good time management tact. First steps towards this are to allocate the time according to the mark allocated. Secondly start writing the answers after reading the questions in one round.

Write the question that you feel more confidents and comfortable, but if you had reached the allocated time for the particular question better leave the question in that point of time as betterment of which will affect the performance of other answer.

Sum up

• Step no 1 mental preparation for handling surprise questions.
• Step no 2 good exercise with great emphasis on concept aspect
• Step no 3 Solve the problems with out depending on the solutions
• Step no 5 Good revision with Scanners and ICAI materials
• Step no 5 A good Time management skills during the exam

Preparation before exam

Preparation before the exam has direct cause and effect relation ship. You need to work hard at the mean time act smart also. In sum, the hard work and smart work need to be balanced  then you can surely get success in the exam.

Hard work and Smart work

You need to select the relevant area first from scanners and past question papers first.

Understand the more relevant and less relevant portions and finalize it and prioritize the chapter according to the importance.

Here , even if you cover 100% of the syllabi will not fetch any result. It may get the rank in other place also.

Then Start hard work on the relevant area with the proper time

Step no 1

Start the study with either ICAI materials or reference book as the case may be( Most of the students will do the same usually)

Step no 2

After covering a particular area you need to go the exam question pattern, may it be case laws and you need to apply the concept there. Cover such type of question along with regular study.

Approaches for practical and Case law type of questions

In case  of case law answer you need to split it in to Two parts .

Part one is  Fact of the cases

Part two  is  the relevant concept and finally give your good conclusion in this way the case law and application oriented theory questions can be handled.

Amendment and update before exam

You must be cautious about the amendment  and update happened at least 6 month before the exam and also go through the other amendment. It is a normal trend of ICAI to set the question papers based on the amendment. Be  vigilant about the update around you.

Make a habit of reading student  news letter and journal of ICAI at least  for taxation and Law matters.

Study cycle

Study accordingly the group you want to write.

The first round of study is the foundation or base. If the base is weaker then your structure will not be strong.  Better you are making a time table based study. Fix a target for coverage .In this stage you may feel difficult in a particular subject better go  for coaching exam  MAFA, Cost management. Those who had written the exam may be covered the  studies

Those who had failed in the exam were advised to understand their reason for failure and make a changes in your action  plan for coming exam. Fix a time table,  devote  more time for studies .utilize the remaining 3 and half month  for studies and studies only

Failure and fear to failure

Those who had failed and those who going to write the CA exam have the phenomena of failure. Those who  had failed may be thinking that  they cannot crack the course even if their good effort.

Analyses by your self that if you are thinking in  the above way. If so change the mind set immediately . If you act smartly then you cannot fail for the exam .I had given the example as above .

Fear and fear to failure will lead to destroy your confidence. If you lost the confidence with you then it will affect your productivity aspect. Don’t be sad about the failure  and don’t fear about the failure.

Now most  of CA student  those who had failed the exam is  dishearted due to the Final result .

If you want to success, forget the failure first, some skills is sleeping inside your brain, now the time to stimulate the skills. You may be need to work too hard perhaps

Both group V/s Single group

In shipping business, some time  due to bad climatical condition or other reasons the ship may face a dangerous situation due to over loaded weight of Cargo, what the captain will do that throwing  away some of the goods in to the sea so that the ship can be sailed safely.

Likewise, during this  three month of exam if you feel  the over loaded phenomena due to writing both group, better to sacrifice those group which you feel less confident and comfortable and given your soul and body to be focused on a particular group. This may perhaps will help you for the coming May exam.

Wish you All the best

Vivek M

How can improve your exam productivity

There are two skills which must be possessed by every student who are going to write the CA exam.

1.       Time Management skills

2.       Presentation skills 

Time Management skills

Allocate the time available to total mark and it is called time management strategy 

Cost management or cost or FM, Direct tax, etc papers seems to be lengthy in nature. If you are not prepared well then will take more time to think. Even if you had prepared well also take time.

Sorting of exam questions

This is one of the important skills which must be possessed by every student. Classify the question which you know well, Know better, unknown questions. The question may be combined by one knowing well question and unknowing question, knowing well and knowing better, Combinations both unknowing, etc.

Leave all unknown question which being attended after attending first two categories of questions.

Better never leave any questions unattended even if you are un aware about it.

Presentation skills

Presentation is the way in which you communicate whatever you had already learned to the examiner. A communication is effective if and only if both the student and the examiner interpret in the same manner.

Here is the slippery point. You may be worked hard, know all the pros and cons; you may some time thought that you learned well. But seeing the result, your heart may be broken. This is due to improper presentation.

General presentation

Better to write Point wise with a clear margin number for each point also heading and sub heading. See just an example of a best presented answer in the attachment.

Case law and practical questions

For case law questions and practical question hit with the relevant provisions and draw a good conclusion in your words.

Part 2 General preparation

Introduction

We all knew that the CA exam is itself is competitive.  The exam is a game of 3 hours. The way in which we approaching the exam will lead you the success or failure. You may be studied harder but not able to produce any result. So managing the CA exam is a skill.

       The day before exam.

  The day before exam is very critical, do visit to any temple near to you. Be cool and relaxed and sleep well. Proper sleeping will make you to revise unconsciously what you have revised. Arrange your tool kit for the exam.

    Find time to revise quickly

 You must find time to revise the portion quickly. So, if you have the habit of making notes it will reduce your tension to revise the lesson. If there is no notes with you then you have to turn the entire book, it increase your hypertension and poor performance

 For problem papers, please go to scanner you can get which problem is very important and which problems are less important. You should focus the important problems.

     The Day of examination.

Please re look in to your tool kit and confirm .Please enter half an hour before exam and sit your seat. Please find the time yourself to settledown.Please write your roll numbers and ready for the exam .When you receiving the question papers just find the time to read    the whole question papers.

    Confidence in exam is a key

  But the confidence is the key, If you tense, then you will forget whatever you have studied. “Keep in mind that we will attack” the exam than surrender. Take the exam as a battle between you and the ICAI. So do or die.

Approaches for tight papers of CA

  When you receiving the toughest paper, Start writing the question you know well. If you not able to complete the question, stop that point and skip to other knowing question and so on and so froth. But never loose the confidence with you. Keep on writing .After half an hour you will defiantly on track.

   Presentation is a great tool

While writing the exam care to be taken not to cut and paste from the module. It is not the right way to write the exam. You should convey the lesson in your way to the examiner. This is called presentation. You should give a maximum time to each question. That is called the Time management….

    Don’t discuss after the exam

After completing the exam even if it is toughest don’t discuss with any body. Prepare for the next day exam. Each exam shall be unique chance.

Nothing is Impossible, if you have will

Dear friends and members,

I can never tell you that nothing is impossible because the success and failure is a mental frame work. The fact that the result was low and bad and will continued to be so for the next November too..

The following are the story which was really happened.

My boss and his friend were done articlship during early 1980; both were passed the intermediate exam in the first attempt itself.

My boss was qualified as CA in 1985 but his friend can only able to clear the second group of final exam and first group is failed for want of aggregate.

 He had written again and secured exemption in one more paper of Group one. Now he require just three more paper for his qualification.

Very near to the point of success. But he cannot able to clear the remaining 3 papers within the next three attempt and lost the exemption too.

Done a lot of hard work  and tried his level best but failed. But this person were not willing to leave the CA course as the passion to become a Chartered Accountant.

 Started a small account Office and  got very low income as he is the only male son of the family so the duty to take the old parents and wife were on his shoulders.

 Attended the coaching classes in Chennai twice, even if he had failed.  After 20 years waiting during the year 2006, he qualified and become a Chartered Accountant.

What  is your state of mind if you had failed in first  or second time? Too horrible , you will lose all the confidence with  and quit the CA course.

There are certain situation, you may be failed even if your good and hard effort and this will ultimately lose your focus and you may become mad or commit suicide.

 Now unfortunately external reason of industrial demand.  The economic condition were dynamic and will change the boom level also. But never give up the Chartered Accountancy course even if you had failed this attempt or immediately  previous attempt. Some time you need to suffer such a high degree of pain to reach your ultimate goal.

The third rank holder his name is Archit Atul bai Shah had failed at least 5 subject before and secured All  India 3^rd Rank. What it indicate? Purely his willingness. There is a popular saying that is there is will there is a way. Understand the reason for failure and made an action plan for securing the Rank. Amazing effort.  So forget about the failure and understand the reason for the failure and make an action plan for clearing next November exam immediate. (Please refer the Role Number of Atul 00104)

The success or failure purely depends upon your passion. First lesson is never ever Give up. Try to understand the reason for failure. Third come out with a good action plan for securing success in the coming November attempt. Even if you failed, try hard the ultimate success will be on you only