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Plz advice for may 2015

08 March 2015

Helow Friends... I have my 2 nd group of cafinal on this may ..this is my 5 th attempt,i cleared 1st group in nov 2014... I am very much confused for second group,d reason is ,my marks in these 4papers have never crossed even 50... Please advice me,what should I do...

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CA Saba Naaz (Chartered Accountant) (8487 Points)
Replied 08 March 2015

First of all... Stay confident. Fix subject wise daily targets in such a way that you can complete your course properly and daily check out whether you have achieved your target. And don't refer multiple books for any subject. Choose the books that you consider good to serve your purpose.

CA Saba Naaz (Chartered Accountant) (8487 Points)
Replied 08 March 2015

For AMA :Practice more and more. Be clear in your concepts. For ISCA :Study daily and try to memorize the points. For DT :Don't leave amendments and cases. For IDT :Focus on all the parts.. Customs, excise and service tax.Don't leave any part considering irrelevant.

(Guest)

Advanced Management Accounting : Do Padhukas Book.

FACT = From 2005, ICAI has changed the question paper pattern. Earlier questions used to be of 20 marks each with less coverage of syllabus. NOW ICAI give small questions and cover everything in paper.

So, Padhukas book is the best as it covers everything on the subject.

But simply ignore/Avoid Extra Complicated Sums( Which came in 90's era )

DONT EVER START FROM CHAPTER 1 - STANDARD COSTING ( Very Difficult and lengthy Topic) Start from Last Chapter which will be from OR( Easy Topics and Small in size)

Study Theory Questions which came in previous exams. That is sufficient.

DON'T WASTE TIME ON ULTRA BIG ( 20-25 marks) QUESTIONS ( Not required in new pattern Question Papers)

Do this way : first cover theory, past questions only, 20 marks. then OR from the last chapter, 30 marks. After that, go for short and easy topics of Cost, another 25 marks. After all this, go for big and difficult chapters. And keep on ignoring Extra long questions. These questions came for 20-25 marks in 90s and 80s, but now question come for max 12 marks.

And remember do practice by writing.Paper will be very very lenghty.

(Guest)

There are two types of CA Final Direct Tax Laws papers:

1. Static : Where no major amendments come, no new case laws come. This paper makes Case studies booklet, RTP, Supplementary Material : Amendments less useful.This is a shocker from ICAI, if the Advanced Management Accounting Paper is not too difficult and not too lengthy.Nov 2014 : Group 1 pass percentage =20%, Group 2 = 7%. This was due to Lengthy AMA paper and also a static DT paper. Infact the IDT paper was also a static one.

2. Dynamic : Where major amendments,new case laws cover about 40% paper. This paper is a cakewalk to pass.If a student revises Amendments, Case laws before the exam, he can easily pass. In the dynamic paper, only new issues are asked.Major focus is on the taxation of Companies.

Till May 2013, ICAI was giving the dynamic paper. The available tips on the caclubindia have become oudated from Nov 2013. As the Question paper gets more and more predictable, ICAI shifts from the dynamic paper to the static one.The first predictable paper was (the first New Course paper)May 2010.May 2013 was the last dynamic paper.This was also the period of high result percentage.

But as the results have dropped, the pattern has changed drastically. Recent Changes:

1. No new case laws from the Case Compilation book.Only old case laws are coming. At maximum 2 case laws can be expected. The Question where 4 new case laws used to come has changed into 2 contemporary provisions related Questions and 2 Case laws. One will definitely will be old and one new.

2. No major amendments are coming. This is a shocker by the ICAI. Only A Multiple times Failed CA Final student can spot this.

3. ICAI is going the 90s way, where every topic will be covered including Salaries, House property. Nov 2014 was a good example of Static Paper.Till May 2013, the focus used to be on Companies, now it is shifting towards general Taxation.

So, ICAI is directly targeting VG and others who focus on selective areas. The coaching institutes deliberately omitt many relevant topics.They cover specific case laws, specific topics. The are still giving preference to Dynamic pattern.Sadly, ICAI has changed the pattern. So, you should follow the book, which covers static and Dynamic both.It should be comprehensive but relevant with the changes in trend.

I would recommend : Bangar Quick Referencer cum Compiler

It has a comprehensive summary. It has all the past Questions. It has all the amendments. All above in 500 pages.

You can also go for the Practice Manual+ RTP+ Supplementary Material : Amendments+ case Laws.

But Bangar beautifully arranges the above ICAI material in its 500 page book.

VG modules have 1400 pages in total with incomplete coverage of many relevant issues.

(Guest)

For IDT, study from : Bangar Quick referencer cum compiler.

Best book. Concise and to the point.

I got exemption in Nov14 by just this book.

ICAI has changed the pattern from Nov 14. So there will be just one 16 marks question on Case laws.

Instead of other questions on case laws, Practical questions were asked.

On the last day, Start from Service Tax, 50 marks, short. then, FTP, 8 marks, short. Then Amendments and cases from Excise and Customs. then, Practicals from Excise and Customs. Then, do summary of Excise and Customs from this book, very easy and short. Do this way.

I did this and got 61.

(Guest)

For ISCA, do it from R.Chandrasekhar book by Snowwhite Publications.

Exact copy of ICAI module and in simple and interesting presentation.

But, no matter what book you read, you will have to read ISCA atleast thrice before the exam to score good marks.

Goodluck !

CA Saba Naaz (Chartered Accountant) (8487 Points)
Replied 08 March 2015

If you have attended Rajkumar sir's classes for idt... Then read only his notes. I attended his idt batch and also got exemption with 68 marks. But, if you have not taken his batch, then go with the book Hammad has suggested. ALL THE BEST.