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My CAClubindia Forum Suggestions cum Tips

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)

13 March 2010

Dear Members,

Please find below some of my suggestions shared earlier during various and different occasions in caclubindia forum. Hope you find them useful. You may also book mark this page for quick reference. Please guide me further by sharing your valuable comments.

Best Regards

Ankur Garg

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44 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Tips to improve marks in Audit and Law

Marks in Audit and Law subjects are very low in November 2009 PCC and P.E.-II result. As per my understanding the reason behind this is not low marking. The main reason behind this is lack of concentration in theory paper along with poor presentation and writing skills.

Kindly appreciate Exam pattern is now practical Question based and not flat Question based so presentation and writing skills becomes very important.

For improved presentation and writing skills I would suggest you to refer answer presented in ICAI suggested answers. Careful observation of ICAI suggested answers is very important. Along with good study focus and observation is also very important to succeed in professional examinations.

One more useful suggestion is:

It is advisable for the CA students to have a glimpse of the guideline answers given by ICSI and compare them with ICAI's. As we all know that ICSI answers are one step ahead from those of ICAI. So a comparative "go-through" of these will help in presenting the better answers... this is not time consuming either...One more important thing if you are conceptually very clear and strong but not able to present it then there is some problem indeed, which is required to be sorted out immediately.

Good conceptual knowledge with good writing and presentation skill is the key to success.

All the Best

7 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Self study Vs. Coaching classes

Hello,

Self study is a very good option. It may give you a great confidence.

But there are certain pre-conditions for self study:

1. Proper guidance is very much important.

2. Choose correct reference books.

3. Have regular discussions with your friends.

4. Self study may be a failure if you prepare without interaction with anybody else.

5. There are certain topics in CA Final for which special preparation is required and self study may be harmful from the conceptual clarity point of view. So discuss these topics with your friends or with any experienced student.

6. Let me tell you a very important thing coaching also involves self study where as self study does not involve coaching. Reason being in coaching classes also concepts are discussed once or twice. But you have to understand those concepts by self study only.

Wish you all the Best

4 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

CS: Must read post for all CS students

Replies to one of the PM received:

Answer to point No. 1

1) Is LLB a must for CS profession?

LL.B. is a great and recognised combination with CS. But we can not say that it is must for a Company Secretary. If you are having LL.B. degree then it would be counted as an additional advantage and you can easily and confidently handle legal work along with secretarial work.

Answer to point No. 2

2) Does ICSI provide campus placements? If not, how does one find placements

Well I am not sure and can’t comment about current ICSI placement policy but as per my previous experience I can suggest one thing for sure – don’t rely on ICSI placement system. Search good 15 months training. If you have good training with good exposure to your name then believe me a good job is waiting for you. Don’t expect much in the beginning and focus on learning the things around.

You may be a very good professional if you have good observation power.

Answer to point No. 3

3) Prior to the recession, approx how much was the starting salary for a CS?

As per my understanding expected salary for a fresher CS is not very encouraging but you can expect a starting salary range from 18,000 to 30,000 in the Delhi NCR region.

Best solution to deal with this scenario is complete your CS as early as possible (in the age of 21-23) and join the industry quickly. Focus on your goal.

Answer to point No. 4

For functioning effectively as a company secretary, what skills, should one develop during studies?

For functioning effectively as a company secretary, first and foremost skill required is actual knowledge of your work and confidence. For actual knowledge of your work good coaching, honest study along with good training is very necessary.

Answer to point No. 5

What are the kind of issues that you have to deal on a daily basis.

It depends on your job. However in general you have to deal with all kind of secretarial work. Get ready to deal with Registrar of Companies and RD. If you are working with a listed company then you have to deal with stock exchange reporting requirements.

Best Regards

2 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

How to deal with law paper

Hello,

1. Focus on important topics and make a strategy to complete them first. If you can successfully perform this task then it will give you lot of confidence.

2. 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.

3. Prepare a list of frequently asked questions from scanner and design your ATLAS accordingly. Please find below “My ATLAS Method” as a ready reference (Already shared through my article). In your condition use the ATLAS in the last 4-5 days of your leave.

ATLAS STUDY METHOD: ATLAS STANDS FOR “AT LAST”. There are always some questions, formulas, Sections and case laws which we simply fail to recall in exam hall. According to this method if you find anything very difficult to remember then after preparing the same topic once or twice put it in the ATLAS. Keep putting difficult topics in ATLAS till exam date. There would be a different ATLAS for law, audit, accounts etc. Now 1.5 hour before leaving your home for examination hall open ATLAS question list and revise it properly or give it a special reading. Now if you find any question from ATLAS in the exam paper it would be very easy for you to answer as you specially revise it just 2-3 hours back and your confidence level will automatically increase in the beginning of exam.

Keep review your ATLAS list and modify it accordingly. If initially you put any question in ATLAS and now you are confident enough about that particular question you can remove that question from ATLAS. Don’t put easy and non important questions in ATLAS as this concept is for revising extra-ordinary important questions just 2-3 hours before examination.

4. Decide your study time as per the available time. A 5-8 hour productive study would be enough. Remember, it is the quality and not the quantity of study that is required.

5. Remember study time management is very crucial.

6. First try and figure out ur mistakes (100% there) then promise yourself to remove them. Believe me there is nothing wrong with your preperation but U hv to do some homework to improve ur performance. Be confident and enhance your preperation.

Hope you find the above tips useful.

Best Regards

4 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

How to start your exam preparation

1. 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.

2. 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.

3. 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.

4. Prepare a list of frequently asked questions from scanner and design your ATLAS accordingly. Please find below “My ATLAS Method”at the end of this article as a ready reference for new members.

5. Understanding of Examination pattern in a proper manner is also very important. 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 I used to write flat questions first like short note etc. instead of practical problems as practical problems are a bit time consuming.

6. Decide your study time. In the beginning it is not necessary to invest 10-12 hours 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.

7. In the beginning of your study time management is very crucial. So focus on time management and keep asking yourself Is this the best use of my time. This is to share with you all that am still using this Q and A technique.

Regards

3 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Please find below some tips to deal with theory paper

1. Use Scanner from the very beginning. It helps you to recognize which chapter is to be given preference. Prepare a list of Chapter wise frequently asked questions from the Scanner and prepare them properly.

2. Try and develop a sense to figure out excess study material from the exam point of view and cross that material immediately in your book. Study Material provided by the institute is not updated most of the times and full of totally irrelevant material/theory.

3. If you have time prepare your own notes to learn properly only for important topics along with frequently asked question’s solution.

4. As per my opinion you shouldn’t ask anybody about the relevance of quoting sections in Exams. It is off course extremely useful in law subjects especially in CA Exams. Try and quote section in your exams without any hesitation. Prepare a special strategy for remembering sections. If you make it a habit now it will 100% pay at the time of your final preparation.

5. Don’t play with the language of law specially Definitions. It is strongly recommended to put the definition in the exact language. However you can take slight liberty while drafting your answer in respect of other law language but the context, texture, interpretation and meaning should not be changed.

6. Work out on your presentation and writing skills.

7. Don’t use different notes for one topic. Finalise your notes before starting final Examination preparation and stick with them.

8. 10 Days before examination date do not add any new topic in your schedule. Just focus on revision-revision and revision.

9. Time saving method: As per my opinion in theory paper you should attempt flat questions first. After that attempt practical problems. Like in Audit or Law first attempt short notes or distinctions etc. In the beginning if you attempt practical problems first then there may be wastage of time in reading the problem twice or thrice.

10. Make Point & give heading: In other words write your answer to the point. Try and convert the paragraphs in to points and give them a heading like I am giving in this Article. However if during exam you have no time then avoid this practice. But it’s a very good technique of theory presentation.

Best Regards

2 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Both Group or Single Group

Hello,

It depends on your preparation and availability of time along with your capability to handle both group at a time.

As per my understanding one should go for single group. My suggestion is not baseless and supported by the following points:

1. By giving one group one can fully concentrate on preparation.

2. By giving one group one can fully utilize his/her time and gain full knowledge of course.

3. According to me group clearance is not the only parameter of success.

4. By giving one group this time one can arrange some time for himself/herself which is very important. Self assessment is also important.

5. Appearance in both group is not a guarantee of success.

These points are based on my personal thinking and helped me a lot in my professional exam preparation and prevent me from failure along with good application of my knowledge.

I personally feel that a reasonable distinction is required to be drawn between quick success and long term professional success with good knowledge.

All the Best and Regards

3 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Use of sections in the exam

As per my suggestion you should write sections at the PCC level. Kindly make it a habit to remember sections as later on it will help you a lot when you start preparing for CA final or other professional examinations. Section knowledge is also very important for your professional working. It is 100% true.

But write the section only if you are sure, otherwise leave it.

However let me tell you one thing you can easily clear your CA without sections but for me it is all about standards. Now the choice is yours.

Best Regards

1 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Tips for memory improvement

Find below some useful tips as desired by you:

1. First and most important point to improve your memory is focus on conceputal study.

2. Another suggestion would focus on regular study and say bye bye to cramming.

3. Prepare short notes (single page) and paste them in your room (preferably on wall).

4. Study according to your plan.

5. Use abbreviation method. If you have 10 points to remember in a question give them a certain abbreviation and remember that abbreviation. See the example below:

In section 293 of Companies Act, 1956 there are 5 clauses from (a) to (e). My abbreviation to remember these 5 clauses is “SRIBC”. S=Sell/R=Remit/I=Invest/B=Borrow/C=Contribute. Have a look at Section-293 and verify yourself.

6. Have a one hour group discussion with your friends regarding selected exam oriented important topic. Discuss all the theoretical and practical aspects about that selected topic.

7. Try and workout on your recalling power.

8. Last but not the least forget that your need memory tips to perform well in your exam.

Best Regards

7 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Important sections for PCC law:

1. Section- 17A-change of regd. Office within a state.

2. Section- 21-Change of name of the company

3. Section- 35- conclusiveness of COI

4. Section- 45

5. Section- 53- service of documents on member by company

6. Section- 56, 57 and 58-Prospectus

7. Section- 58A and 58AA – Deposit

8. Section- 60A and Section 60B

9. Section- 77A- Buyback of shares

10. Section- 78- Issue of share on premium

11. Section- 79- Issue of share on discount

12. Section- 79A- Issue of sweat equity shares

13. Section- 81- Right issue of capital

14. Section- 108-Transfer of shares

15. Section- 125-Registration of charge

16. Section- 149-Restrictions on commencement of business

17. Section- 163-Place of keeping registers

18. Section- 166-AGM

19. Section- 169-EGM

20. Section- 171- Length of notice

21. Section- 174-Quorum of the general meeting.

22. Section- 176-Proxy

23. Section- 187

24. Section- 192A- Postal ballot

25. Section- 193-Minutes

26. Section- 208- Payment of interest out of capital

6 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 13 March 2010

Miscellaneous_Exam Preparation

Dear friend,

I do not think you need any kind of advise so am not going to trouble you more with my advises. Reason behind this is you are very well aware of your strengths and weaknesses which for me is very important and essential ingredient for exam success.

Just continue your study with full confidence and attitude. Keep analyzing the things and your preparation and modify it accordingly. Regarding forgetting one chapter next day I’d like to say don’t think too much and focus on conceptual clarity. After 2-3 days practice same chapter with any milestone or heavy question which contain all the adjustment of that chapter.

Student should check their preparation by solving previous exam questions from scanner.

Another important thing is giving some time for account and other practical theory. Preparation of own notes for theory paper is a very good idea but only for frequently asked questions. Do not dare to underestimate the importance of theory in numerical papers. Also give some time to yourself to relax.

One of the main reasons people do not reach their goals is because they set them too high. So set goals that are manageable and it does not make any diference if they seem too simple. First develop a habit of accomplishing small goals and than think about higher goals.

Good Luck

3 Like