I have planned out a decent strategy for getting 60 in all subjects with proper and directed effort. I shall post whenever i am free from my studies.
I am posting regarding
1. read the selected cases book 2009, and supllementary cases issued by ICAI which will amount to 5-10 cases. IN total 60 cases.
Please know all the cases thoroughly with u reproducing the same words as there in the book for safety.
Marks 25-30 straight.
2. Thoroughly study Supplementary study material, the amendments in excise act, customs act, finance act for service tax and central excise tariff act. Don't try getting into the latest circulars and notifications, may not be of much use.
Marks 15 straight.
3. 6 types of valuation
a) Excise b)SSI c) Cenvat d) Customs E) Service Tax f) VAT
Please be thorough in all these aspects before getting into learning others aspects of the subject.
Marks 30 straight.
So 1+2+3= 70-75 marks from the three mention above.
If you have written everything properly, 60 is assured.
Things which need to be studied over and above this are.
1. Taxable services (5 marks)
2. Remaining part of VAT (5 Marks)
Total covered till now is 80-85 marks
Beyond this, please give a reading of all the chapters in the book the way you read sidney sheldon or Harry potter not more than once before the exam.This would enable you to attempt 10 marks more helping you get 3-4 out of it. For you to tackle that, please take the smallest book available in the market to know what are the procedures being followed, that should be sufficient to attempt 95-100 marks and getting minimum 60 and maximum 72-75
PS: My friend followed the same strategy last time and he told me to do it. I checked with all previous papers and then decided upon doing this. He scored 83 in may 2010, final and was all india 26 rank holder
Information Systems and Control Audit
1. SDLC and Control have been amended. Please do expect a good amount of questions from these two chapters. Traditionally controlling alone has been tested for 15-20 marks wth SDLC forming a very less importance in new syllbus papers. Since SDLC has been amended, please study this topic thoroughly from ICAI MODULE ONLY. SDLC ( I expect 10 marks minimum this time)
2. Thorough Knowledge of ERP, standards and act will give 30marks.
3. For the Information technology amendment act, please study that from ISCA practise module issued recently by ICAI.
4. Remaining Risk, Testing, BCP, policies form the remaining 30 marks. Its not difficult to identify what to do in ISCA as there is no confusion.
I generally dont recommend books as comfort factors differ. For ISCA, I feel, books play the most important part of the approach.
1. Dinesh Madan for Chapter 1,4,5,6,7,8,10
2. ICAI module: 2,3,9
3. ICAI Practise module: IT amendment act
This Practise module of ICAI prepares us well for exams. please go through all the questions and apply ur knowledge on those questions.
Every time ICAI introduces a new material for the student fraternity, most of the questions come from that book. ICSA practise module is the new book released. please get that book and read all questions. A few might come in the paper
Its always hard work which pays high rewards absolutely, but smart work pays higher rewards relatively. For eg: Spending 100 hours might give u 75, but spending 50 hours the smart way assures 65 for sure.
Traditionally and even in present, the pattern of testing has been like this
Consolidation - 16 marks
Amalgamation - 16 marks
Valuation - 16 marks
Others - 52 marks
Total - 100 marks
The break up mentioned above is the trend and its been followed sincerely with a slight relaxation in the concept of valuation which is tested in alternate exams in the recent papers.
Now how to go about things,
If u take any text book, consolidation, amalgamation and valuation form 75% to 80% of the volume and time taken for preparing for accounts. Others which form only 20-25% of the volume and time are the ones which are helping you for 52 marks.
Ranking priority and from where to study.
In case of others-52 marks
a)Accounting standards form 20/52.
How to study???? The following will help you score 16-18
a.1) Study 1st chapter accounting theory in the final accounts compilation which will be 74 pages with a lot of standards covered and repeat.
a.2) Then read the following standards spearately from the book of your comfort
b) Other topics from study material or any other material of your comfort.
GVA,SHVA,MVA,EVA,HR reporting, Inflation accounting, Employee share based payments, Accounting of financial instruments and accounting of MF, NBFC, merchant bankers and stock brokers.
These topics may be around 150 pages in the study material with the maximim of 25 problems with all topics put together in the ICAI module. Please be thorough with all these topics. This will take care of remaining 32 marks
OTHERS GENERALLY FORM ONLY 52 MARKS BUT DURING THOSE TIMES WHEN VALUATION DO NOT BECOME A PART OF THE PAPER 52 BECOMES 52+16=68 as AMALGAMATION AND CONSOLIDATION ARE SURE SHOT QUESTIONS.
If you are thorough with others, then go for valuation as this is the chapter easiest to understand and solve right in the exam fear and pressure. I suggest this topic because this forms part of the SFM syllabus too.
In this case u can write the paper for 68 minimum and you are thorough with 68 marks.
Now move ahead and learn whatever you can in the little time left in the case of amalgamation and consolidation. Learn a few working notes. that will fetch u around 3+3 out of 38 minimum.
With this 60 isn't impossible??????????????
PS: I cleared my PCC in nov 09 and wrote final both groups may 10 following this strategy. My top score was in accounts which was 48 and i wrote the paper only for 52. i didnt know consolidation, amalgamation. planning to learn some working notes for this attempt so i can go till 60. Due to a notification regarding financial instruments accounting, i left that topic for choice and it was a 12 marks question. I missed it and thats why 48 or else would have got around 55-56.
All the best Guys, please do research and check whether my findings are right.
Hey guys lets split the paper again into 4 parts,
1. SA -20
2.AS - 15
3.Professional Ethics - 18-20
4.Other Auditing topics- Remaining 50
Please be thorough with questions in compilation of auditing. It will be around 24 pages and not more than that. While reading the compilation, please mark the standards which have been covered by the compilation in a separate sheet of paper.
Please read those standards in detail from an Exclusive SA book. I personally follow RAWAT for SA's. You will be required to cover around 20 SA's which will come to around 68 pages in RAWAT. Finish those standards and answer all questions from compilation assuring you 18-20 marks.
I have mentioned about AS in the accountancy preparation strategy. That knowledge is sufficient.
3. Professional Ethics
This fetches a lumpsum and I would sincerely recommend you to read this from Padhukas only. There are 140 questions. please be sure about it and you can easilly get 90% of the marks allocated.
I am splitting this into 2 parts
a) Compliation Covered areas
b) uncovered by compilation (SOX ACT, CIS auditing)
Please finish Section b thoroughly as these two chapters added in the new syllabus havent been tested in the previous two attempts. So please watch out for it.
Section (a), the most important area of this company audit and audit report. This will take care of another 20-25 marks. This you need to study from an exclusive auditing material like padhukas, VK.Agarwal, Surbhi, Kamal Garg, etc..
Total marks covered 20+15+20+25(excluding SOX and Cis)=80.
So, the remaining you can study from the smallest possible material avaliable in the market. I preferred VK agarwal as i felt it was the smallest.
With this 55-60 is possible if you could reproduce the small parts which i have mentioned above.
My strategy is designed to score 60 with minimal effort and time.
LAW, DT , COST and SFM
1. Thesre are the 4 subjects where it has been very difficult to find short cuts, thats why i reserved it for the last.
2. I did try and break these into certain sections and found out that marks were coming from certain parts. Please be thorough with them and hope these guidelines help you.
1. IN case of law the split up is 70-30 in favour of corporate law.
2. Directors solely contribute for 25-30 marks of your corporate law paper.
3. There is generally a question always from dividend, foreign company, producer company, DIN - total marks 15 out of the 4 topics
4.Remaining form the remaining marks.
Where to study??????
1. In case of directors, I would like you all to study an exclusive material for that and supplement with compilation, whereas for other topics in corporate law, studies from compilation is more than sufficient. If you can reproduce, it would be lovely. Only the compnay name changes, the wordings remain same in the questions tested
Note:Till Nov. 2009, Compilation study was more than sufficient to score 55-60 in law(new final) as 70-80% questions were straight from there.
But during May 2010 exam, only 45-50 marks were from compilation and those who believed completely on compilation like me were stumped. So on analysis, Compilation doesn't seem sufficient for law, thats why i have requested you to have an exclusive material for Directors.
This would ensure 40/70
For other Laws:
God knows from where he tests, the choice the examiner has got is pretty wide. Please take a material smallest in size in the market and get a hold of all the laws before exams. This would help you score atleast 15/30
With this preparation minimum 55 is possible
1. In case of DT, we can separate that into Income Tax, Wealth tax, supplementary material and Selected cases.
I shall give you order of study for these subjects
a. Finish welath tax thoroughly -10 marks.
b. Read the supplementary material throroughly - 20 marks.
c, Read teh selected cases as it will surely come for 15 marks.
Remaining 55 marks are from the book. Finish Capital gains and Pgbp. Thats more than sufficient for you all to give a good show in papers.
d. Once you are done with all these topics, finish the assessment procedures. Do not read it to memorise. read it in a flow from an apt book. Read it twice before you for the exam.
This should definitely be sufficient for you to write for 90-95. This can fetch you 60 marks provided you score 35 on 45 out of a,b,c.
All the best
Hello guys, Costing is the most dreaded subject and if you need to get 60 you need to go the dreaded way.
How to go about???????
1. Please finish QT along with all theory in that segment. total-30 marks Please ensure you get 25 on 30 in QT. please do not leave any topic as choice thinking you can compnesate. please work out all problems.
2.Standard Costing and Marginal Costing-25-30 minimum. Please guys spend 3 days working out all problems from the material you follow. This is my sincere advise as completion of 60 marks of costing is very dificult, then we need to think of scoring 60. If you need to score 60, its a pretty diffficult time out here.
3. Excluding the QT aspect of things, there is 10 marks for Costing theory, see to that you get 8/10 in costing theory which will effectively help you out well.
Theory - 8/10
S.C and M.C- 20-30
Total - 53/70
Please try getting 7 more with basic knowledge or basic attempting of all other questions. Enjoy Costing as there is no other alternative.
The way papers look, ICWA would fail in costing without enough preparation
Hey Guys SFM is a subject where your conceptual knowledge is tested and not your speed of writing like costing.
HEY GUYS, DONT THINK I AM PROPOGATING A BOOK HERE, I AM THE LAST PERSON TO DO THAT AS EACH ONE HAVE THEIR OWN COMFORT FACTOR.
SINCE I AM FROM SOUTH INDIA, I HAVE LIMITED KNOWLEDGE ABOUT THE AUTHORS FOR SFM FROM NORTH INDIA.
I HAVE USED PADHUKAS, MURALIDHARAN, PATTABHI, SD BALA AND AN.SRIDHAR.
I FOUND AN SRIDHAR TO BE THE BEST AVAILABLE DUE TO THE FACT THAT CONCEPTUAL EACHING FOUND BEST HERE. EVERY CHAPTER HAS 80% THEORY AND 20% PROBLEMS WHICH ARE MORE THAN SUFFICIENT TO GET 60 MARKS IN OUR PAPER AS MOST OF THEM HAVE GOT.
As far as the chapters to cover go,
2. Mergers and acquisitions
3. Bonds and Equity analysis and portfolio theory.
4. Theory in all topics, preferably new syllabus topics.
5. Capital budgeting and financing.
This will ensure 90% of the paper.
If u look at AN.Sridhar, maximum problems would be 200 all put together. would take 2-3 days to complete.
Please spend 3 days to master SFM and score 60 minimum. less than 60 is not your cup of tea. Please rush to the shop if u are a south indian and get this book.
People in north India, I dont know about the books there, so cant comment on them but you can take my word and work thisbook. I guarentee 60 60 60
Hey guys If you start today from scratch you would be able to complete this in 2 months maximum, giving you a good revision chance. if you are meticulous in what I say based on my research and my friends’ help, You will definitely land up in 480 with god’s grace giving you a chance to enter into a single digit rank. If there is some sense of negativity, let’s put 30 marks on total. The total of 450 is still competitive to get you a double digit rank atleast.
Please Enjoy your studies and finish your CA with an aim of leaving a mark for the world to remember you as an ALL INDIA RANK HOLDER.
All the best