Financial reporting ca final study plan - may/june

"My recommendation for next 30 days is to do the following and write to me for any Doubts on concepts at tejas @ tejas.co.in ."

i appreciate ur views and help for students community.

Dear Sheela,

My expectations is this will be applicable for Nov examinations, but we will also await BOS announcement which should come in a month's time.

Institute has released a guidance note for New schedule VI, have a look at it as well.

regards,

Satish

Hello sir , good to see someone sharing thoughts about planning and preparation....

will follow your posts

Thankyou

Hello Sir,

Very thoughtful and helpful for the student community.. Will follow your post.

Thank you.

Hello Sir,

Very thoughtful and helpful for the student community.. Will follow your post.

Thank you.

Dear Abhishek,

Ind AS is step towards convergence to IFRS, till we have clarity from Institute - you coudl go with Accounting standards. and its a good to start understanding the specific of changes in Ind AS and also read the guidance note for Schedule VI published by ICAI. There are many blogs and authors writing textbooks some of the good ones are Dolphy dsouza & MP vijayakumar writings.

Thanks Deepti for following and write to me at tejas @ tejas.co.in as you work through next 6 months for any help

Good luck CA Final students on your preparation and hope to cu all follow the plan.

Cheers.

Happy Learning

Satish.

Dear All,

Hello monday Morning, CA & CWA final students, How is the studies going through, Please take a look at the above planfor Month of June if you are yet to start. Time flies and dont regret later.

I had covered in last month for my students ( batch size of less than 10:)) so we get to talk and share a lot. 

Valuation of goodwill/Shares

Amalgamation -Till Cross holding

Accounting Standard - My students present in the class and we have completed - AS 20/AS 14 and discussions have started for AS 13, AS 16 & AS 26

Follow my other post - Hav epublished study plan for Financial Management & Corporate/Allied laws.

Write to me with any queries at tejas @ tjeas.co.in

Cya and watch out quick updates on all Standards by following my post and answer questions asked for

regards,

Satish.

Tejas Learning centre

"where knowledge is shared"

satish Can u please provide exam oriented notes for revised schedule VI ??

Sir is it wise to start final prep now itself.. My ipce jus got over a month back and I felt based on others views that u wont have sufficient time because of articleship..So should I wait for a year or two when new syllabus such as IND AS comes into focus or should I take a headstart..

Thanks in advance sir...:)

> Dear Nikhail - Schedule VI currently am covering for my batch of 10 students in the class - YOu can write to me at tejas @ tejas.co.in for regular updates and I will be able to share information.with teh study plan.

> Dear Jairam,

YOu could always keep in touch with teh following and start understanding in Depth . I found most of CA final students not upto the mark in terms of knowledge and struggle in basic concepts when  they come to Final. Its improtant to do continuos learning.My recommendation would be

ACCOUNTING STANDARDS - read balance sheet of companies, understand and interpret with your technical knowledge

Income Tax : Heads of Income (P*G/Capital gains ) to start with read case laws

Financial Management : Go over basic concepts : Cost of capital, Leverage, Working capital , Ratio , Interpreation etc

This shoudl be good for next 3 months.

Dear Final STudents,

Hope you were able to follow through the study plan, Start takign test on completed topics, Practice Time & also do continuous reading.

REgards,

Satish

Earlier for the CA Final old syllabus, financial reporting paper was quite sorted as there were few chapters like consolidation a sure shot question of 16 marks and limited AS. Well, we cannot comment on ICAI’s difficulty level of question papers to judge FR to be so easy. But FR in new syllabus is a nightmare for most of the students and the vast syllabus is what fearing them, the content of 2500+ pages. Many students are unable to go through the syllabus once, thus to score an exemption becomes Mission Impossible in FR.

How to tackle it?

An appropriate strategy will help you to be in a win-win this subject:

Concise Handwritten notes

In your first reading start preparing your notes in a very concise manner, only note down the key points which are mandatory to write in exams, which will help you grab the attention of the examiner and as well as catch up the marks easily. This will help you to remember and retain the concept for a long time, also help you to revise very quickly in 1-2 hours a particular chapter. For very small IND AS like 8,10,40,41,36, this will be very much helpful and for other IND AS like 110,102,103 which is asked as sure shot questions in exams this will help you to remember adjustments as well. Keep the notes handy with you so that it can help you to retain it for a longer time with your cumulative revision or record your voice narrating the whole revision of the notes and hear it again and again.

Practice and Practise

Well, for the theoretical content self notes is there for the rescue, but for the practical question solve as much as you can and don’t go for other author’s book unless and until you have finished with the study material thoroughly concerning preceding 3 attempts, questions are asked from there only and along with that try to solve past papers, mock papers and don’t forget the RTPs. RTPs of FR paper will always loose out the confidence in you but don’t worry exam paper is quite easy than what it appears in RTPs. Don’t just only try to solve the questions, but finish it from start to end. If it is a consolidation sum then practice the sum along with preparing the balance sheet in a proper format tallying the whole sum. Also, don’t jump on the solutions easy as we do after reading the question, Solve it on your own and check for the mistakes and mark those to make your preparation much stronger.

Many students say that there are lot of test series, which one should they choose. I would strongly recommend them Prepca test series. Why Prepca? They will help you to evaluate your chapter wise performance in its multiple test option models, It provides the test series with ICAI level evaluation, wherein you will get to know where you are losing out your marks.

Beat the FR Horror by preparing self notes, Practising more and appearing the test series of Prepca.

Hope this answer help!