Shud i attempt Group 1??

Old Course 938 views 2 replies

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I am appearing for Group 1 PE2 this June.

I have started my Law and audit study schedule and possibly end by mid May. Accounts is my favorite so no problems to complete by May end.

Problem is with Accounting standards, AAS and SAP's. I hav no habit of last minute mugging or just having a go through by AS, AAS and SAP's.

I just want to know the following:

1. In Audit are there direct questions on SAP's, AAS or Guidance notes???? If no, then a proper reading is enough for the aforesaid??

2. In Accounts, same as above, are there direct questions on Accounting Standards??? If yes, can some members plzz list the most important AStandards for this exam.

3. Shud i appear for Group 1 this June?? (Note: Not enrolled for Group 2!)

I am confident enough to atleast pass exams smoothly if i study and make most of this 2 months. Rest i need your opinions on proper planning for this 2 months on Group 1 subjects.

Thanks~ plz help me .....

Replies (2)

Raminder Dhiman

Service

45 Points Joined February 2009

Hi Chirag

I am a CA final student and recently cleared Gr1 of CA final. For Audit, most of the students try to mug up AAS etc and give stress of vouching & valuation chapters. Let me tell you that you are not required to mug up these chapters.. I would advise you to pls understand conceptually, AAS-5 Audit Evidence and try to read it atleast 10 times conceptually. If are able to understand AAS-5 you can do audit any dam item.. even in practicle life. and u re not required to mug up valuation chapter and even can tackle most of the questions. This seems to be rubbish but this was taught by my teacher A.K Arora who is the Ex - deputy director of ICAI and used to teach audit and accounts for CA finals

Even I have done same thing in Advanced Audit subject of CA Final Gr 1 and scored exactly 50 marks. and let me tell you that I have devoted least time on this subject.

Anshul Agarwal

Student

170 Points Joined October 2008

hi chirag,

i would recommend you to buy praveen sharma sir book on AS AND GO THROUGH THE QUESTIONS AND ANSWERS GIVEN AT THE AND OF EVERY AS.(THE BOOK IS VERY CONCISE AND ONLY RELEVANT TOPICS ARE DISCUSSED)GOOD FOR LAST TIME STUDY

I WILL ALSO LIKE TO ADVISE NOT TO PUT TOO MUCH STRESS ON AAS AS THEY R NOT MUCH RELAVANT FROM THE EXAMINATION POINT OF VIEW

plz dont take law and audit easily because they are the toughest exams to clear.(prefer study module for audit and MUNISH BHANDARI SIR'S HANDWOOK IS VERY HANDY IN EXAM TIMES