Saturday, September 24, 2011

How to face CA examinations?

ICAI has released a manual on how to prepare for CA Exams- IPCC & Final
Tips are given for each & every subject seperately. It's very useful . Follow the link on ICAI website -
 
Download : CLICK HERE 

 

Monday, September 19, 2011

Study plan for IPCC May 2012

Here I'm sharing an article given by Chandrakant Ambani


TO ALL CPT CLEARED STUDENTS GOING FOR IPCC IN MAY 2012

Some Thing What I Tell my Class Room Students I thought of Sharing on this Portal for all.
First remove the thought of Only one group, Go for Both groups.

One Month available Enjoy your life & Time available.
Then prepare a further Time table for 600 - 700 hours of devoted studies to be completed by 31st january 2012. 
(Starting 01.09.2011 You have 153 days upto 31.01.2012,Remove 13 days for you self,festivals etc No studies, Left 140 Days X 5 Hrs p/day = 700 ) 

Later February 2012one round of revision from Past 10 attempt papers, March 2012.
Repeat same thing of Feb 2012 again, April Fast Track Revision upto 10th April 11th - 20th April 2012 Paper solving in written form atleast 2 papers per day.

10 days  its 20 papers & 7 subjects so it makes about 3 papers per subject creat exam conditions & be honest to yourself while writing the papers. 

Stop writing after 3 hours & see what & how much you have done. Later 21st April onwards till exam day plan your time table for final revision & shortfalls you have realised & found in your studies while writing your own Mock  papers. Follow this & I can guarantee your success & that too with flying colours
Check the Planning & you have completed 3 rounds of Revision Both Groups & that too 15 days before the exams. Now you yourself decide How can you  not pass easily. but condition stick to the schedule

Friday, September 16, 2011

WHAT ARE THE ESSENTIAL NEEDS FOR CA STUDENTS?

 Here is the article which I came across, just sharing with you..

1. Good Revising skills: Easily you can revise subjects if you take
notes.

2. Good memorizing: Note the definitions and sections which
should be memorized accurately

3. Good Handwriting: Just conduct weekly test to make your
handwriting better and manage time in Examinations

4. Good Communication Skills: Make your fluent English
knowledge to speak with others.

5. Good Computer Skills: Know various knowledge for using
computer fast like shortcut keys, Using A lot of soft wares,
speed type writing etc.,

6. Time-Management Skills: Use time accurately without
wasting. So manage your day-to-day timetable or Weekly
timetable

7. Good Behavior with others: Just have an idea while speaking
with others what to speak and how to speak. Because we are
trying to become a good professionals. So don’t behave
Childish.

8. General Knowledge: Know about general matters about
banking, insurance, share market, Online trading, inflation,
foreign exchange and etc.

9. Latest updates: Daily update what happens around the world.

10. Always Be interested with studies: Don’t leave your
confidence about CA Course, Always Be interested with your
Studies.

Monday, September 12, 2011

Ratio Analysis - Financial Management - IPCC

Here is the whole package for Ratio Analysis - Financial Management - IPCC.
It contains 1 word file, 1 excel file and 2 power point presentations.

Download link: http://bit.ly/oZsB6N

Download courtesy: CaClubIndia

Financial Management Theory Notes - IPCC

Here are the Financial management theory notes for IPCC

Download link: http://bit.ly/mUdD55

Download courtesy: CaClubIndia

Sunday, September 11, 2011

FINAL / IPCC / PCC - AUDIT NOTES

Here are the FINAL / IPCC / PCC - Audit notes

Download link: http://bit.ly/pDz2K3

Download Courtesy: CaClubIndia

CA and Time Management - A Reality

This is the article given by Saurabh Agarwal

-----------------------------------------------------------------------------------------------------------
Generally for students the most important thing to understand is that our time management revolves around our studies. This doesn’t mean that we should leave everything apart and just keep on reading and reading.



The main problem which think is generally we don’t start until we are on fire and when we have just few months left with us, following consequences occur :-



1.      First of all we are uncertain from where to start, as everything has to be done and time is not proportionately available.



2.      Then some of us go for making a time schedule or detailed plan, but here also problem arises, syllabus length does not match with time period available.



3.      Then the best option available with us is do selective studies. We utilize our precious time to select major topics for the exam and start preparing those. In the midway, we realize that WE ARE IN CA FINAL, not in other graduate courses. A finalist itself knows about the level of exams and what consequences shall follow if we hang upon selective studies.



4.      Then the final option comes, that is CRAM UP. Not all of us can cram things up but those who can apply this option, and believing on their luck that no conceptual question would be asked, go on to exams.



5.      The result will automatically be in 2 digits and even most of those passed by cramming will either be rejected in campus placements or they would be unable to start their own practice.



6.      Then arises the requirement of other courses on opinion that more the degrees, greater the chances of placements.



Many of us give excuses like that we couldn’t have sufficient time because of Articleship and coaching.  Now we have to understand that this is not a personal problem, it is global phenomena in our field.



While at Articleship we ignore all practical work for purpose of gaining knowledge and developing skill. We take our work as our target to finish it anyhow, irrespective of any incremental gain of work exposure.



The best way to learn is apply our own knowledge on any aspect and then compare with the senior way to work. This way we can gain knowledge. Paper like DT and Audit can be understood only by doing it practically.



While at coaching we try to finish the work given and keep filing our copies in neat and clean writing on assumption that we will understand at time of exams which will never come. We never try to understand concepts there only and postpone our work to later point of time. All those accumulated work becomes so hefty that ultimately we had to cram it up.



Kabir ji ne kaha hai…

Kaal kare so aaj kar, aaj kare so ab, pal me parlay hoygi, pher karego kab.



Although in today’s world I acknowledge this fact that no one can do all his/her work at once. We always require postponing our tasks to future dates. But the matter to be understood is what and till when.



We all read so many books and articles for time management which resides in this one liner quotation. What I have learned is no book can make us punctual and make us habitual to work all our work at time. Time management arises from practice and only we alone can learn it from our experiments.



Books like time management and self motivation, etc. are good enough to make realize their importance, but their effect remains for 20-30 days only, and again we are on original platform. And there is nothing bad in it because it is our natural character to learn by experience.



We all can understand above by looking into our daily life examples. Like while solving practical questions, we understood and learn only when we try it on our own. Here some people might say that they have passed by just reading over. I am not talking about those as they itself know how much they understood and retain the concept after exams also.



While conclusion of my article I just want to say is till you are in CA final, time your work from inception. This way you will have equivalent time available for all your work and also it will never become a necessity to cram up thing.



Nothing is tough in our course; all it needs is high level of practice, time and concentration. More the practice, greater will be the quality of results. There is nothing as such which should be crammed up.



Saurabh Agarwal

------------------------------------------------------------------------------------------------------------------------------

Saturday, September 3, 2011

It's not tough, it is just different

Here is the article given by Saurabh Agarwal



Bas issi umeed me jiye chale jaa rahe hai ki whatever happens is for good only, besides it there is nothing to count upon in life.


A normal quote in mind of every CA student including me. We start CA with lots of passion, and dedication, which remains till intermediate level and then it slowly and gradually diminishes to such an extent that no one is interested in finals.

There are quite lots of factors contributing to this, some of them which I felt are as follows:


1.      The Pressure

One of the biggest de-motivating factor for a CA student is pressure. An oceanic course and trendy single digit results, along with Articleship tenure and simultaneous coaching; recent amendments and uncertainty of examination pattern making it further difficult to handle things. And above all we all know about the word SCALING for which there is never ending debate. But the fact is ICAI has gone mad this attempt, they itself are not certain about what to do.

The direct effect to of such huge results (which is mainly due to their political reasons) is showing on campus placements. The day is not far when a MBA from local college would say to join with him on 1-1.5 lakh p.a.


2.     The expectations

May be not for all but those excluded are surely 3-5%. The second worst nightmare for CA students is the level of expectations. And this all because of huge name and dignity with respect which is attached to the words CHARTERED ACCOUNTANT. Ask any people, if get to know that you are pursuing or is a CA, he/she will surely show some respect to it. But these guys don’t know the level of our sufferings.

Most of the newly passed CA’s are confused whether to join MNC or work independently. Although many wants to work independently but moratorium period of 4-5 years is just unbearable. Again if any student is willing to take such risk, the family enters into scenario, who wants to have earning member too quickly.

Again, as for me also, biggest problem is faced by students having family business going on for long. Sometimes we are forced to join it, sometime we are made free, sometimes, we are informed to do self practice (till then they will fund), and sometimes they order us to go for MNC package.

No one asks what we want in reality. We want to go for self practice; they say that our daily transactional cash flow equals your yearly income. If we want to go for job, they say that who will handle this business. And sometimes they itself asks for going into professional field as big MNC will ruin business in near future.

People expect that now we are CA, we must know EVERYTHING. And the reality only we know. Client come and say save our tax, we don’t want to tax, at the same time they want to give our fees. Their argument is what work we are doing against such a fees. They don’t see the application of mind (which no one can see actually).


3.      The final decision

After all above if anyone becomes a CA, he gets into actual trouble. He/she would certainly thought about the person who said that go for this course, you only have to struggle for 4 years (till we clear). There is nothing like that after doing CA we are free. Reality while pursuing the course, we people are so moulded that nothing in this world looks more troubled. At that time we are masters of handling problems, and tragedies, etc.

Doing CA opens up so many fields in itself which one start is a never ending counting. Every one of us has thoughts to do something but at the same time had a fear that is this right one for me?



Who are We

Our tuitions are our colleges.
Our workplace is our campus
Our clients are our bunks.
Our outstation audits are our college trips.
Our boss is our raggers.
We live in isolation and simulated world designed especially for man machine in the field of finance.



Saurabh Agarwal

Emotions of CA - Not in Any Act....

Here is the poem which I came across while surfing, it is shared by Hitesh Batra.


c.a. not kind of a easy food,

its kind of a sharp knife,


the begining of c.a. in our life,


its just a start being long way to survive




in c.a. we just have to concentrate


whether we love whether we hate


there is no hope there is no faith


we just keep on track no back just straight




its a river


its kind of a wall


we just keep jump over them


without a fall,




those fell


there life kind of a hell


those who clear


everytime they got a new fear




fear of preparation


fear of affectionation


fear of other n us,


fear of loosing focus,




people who near of us,


they keep motivate us,


there is no hope for luck,


its like a hell where we _uck,


not even know who got our paper of exams,


in which mood he/she is while checking answer sheet of our exams,




why we embarres, why we regret,


why we b like a animal,why we dancing like a pet,


its not like a horse races where we can bet,


its like a achivement to which we have to met,




moral of the story


moral of the lecture,


we are animals of seprate catagory,


c.a. is like a adventure,

gunman is unknown,

institute is our jungle,


we just live a part


without a fumble,




its a huge struggle to live in our cource,


people keep ask "can u paas in c.a. cource"


we have no answer this kind of a questions


we knows only,at that time how we control our emotions,




plz dont ask,


plz dont say,


let us struggle


its a long way.,


its a long way.,


its a long way.,


its a long way.,....




c.a. students are just like a gold,more they melt in hot temprature they'l come with a purity...


purity of experience,


purity of courage,


purity of intellectual,


purity of coverage...




cheers for our strugglefull live,


where we just have to survive........

Friday, September 2, 2011

Super Summary of Taxation with enhanced format and with amendment relevent to IPCC - November 2011 examination by Bhavin Pathak

Here is the Super Summary of Taxation with enhanced format and with amendment relevent to November 2011 examination by Bhavin Pathak.

Download link: http://www.caclubindia.com/forum/files_download.asp?msg_id=819866

Download courtesy: CaClubIndia




My Tips-My Tricks-My Rank - Taxation

Here is the article given by All India 4th Ranker in IPCC on how to study the subject TAX.


PREPARATION-


1.Notes are a strict requirement . Make a separate notebook and write down various section numbers along with its provision. It will be a boon for you at the time of revision coz you wont need to get back to the book at all.

2. It would be preferable if you can memorise the section numbers. No matter what people say but the truth is it boosts your score. But quote a section number only and only if you are 200% sure about it. Wrong section number can prove fatal to your answer.
3.Better not go for digging into too many questions at this level. Solve the scanner, institute's module and selected questions from a reference book (use Girish Ahuja or V.K Singhania's book).This will be more than enough. Scanner is a must.
4.Keep on revising the sections. Tax is a very slippery subject. Can slip from your mind as well as your marksheet anytime. So needs regular revision. Develop an interest , you will find the journey beautiful.
5.Use only institute's material for Indirect Tax part. Learn the theory word by word and just paste it in your answer sheets. Its very easy and scoring at the same time.
Answer sheet-
THEORY ANSWERS
1.Start with theory answers. Hope your handwritings are legible .(Handwriting need not be beautiful but decent).You might get confused in practical part if you start with it coz of nervousness. So start with some theory till your nerves settle coz its a boiling hot exam environment. Try to present the answer point wise.
2.Stretching and Shrinking-Many times in theory answers we  don't have much to write but try and learn the trick to adjusting the answer according to the marks allotted. Suppose a question is for 4 marks having just a 2 line answer. The evaluator also knows this fact but even if you write only those two lines the  he might give you just 2 or 2.5 marks. So learn how to stretch and shrink an answer giving no scope to the evaluator.
PRACTIAL ANSWERS- 
1.Solve it neatly. Working notes must be clear - as clear as possible. No need of decoration but cleanliness is always preferred.
2.Try and solve 100 marks paper. The evaluator is in a completely different mindset when he sees a 100% solved answer sheet. Possibility of failing is almost washed away.
PROVISIONS- MY REASON OF SCORING 87.
The practical questions designed by ICAI have high probability to make us fall into trap. Its tricky and even the best of the best don't get 100% correct solution on most occasions.
In Practical answers--if you have time then mention the provision along with the section number in working notes. It will work wonders. Even if your solution is 50% wrong your provisions can fetch you 90% marks. It works and it works wonders. Because the teacher is assured that the students has the knowledge.
I did it in each of my answers. I was so scared of it working but we all have the result in front of us. So give it your best shot. Good luck.
 

Wednesday, August 31, 2011

Files of Accounting Standards

Here are the files of Accounting Standards

Download link: http://www.caclubindia.com/forum/files_download.asp?msg_id=555920

Download courtesy: CaClubIndia

Amalgamation and reconstruction notes

Here are the notes on Amalgamation and reconstruction notes

Download link: http://www.caclubindia.com/forum/files_download.asp?msg_id=555913

Download courtesy: CaClubIndia

Insurance Claims

Here are the notes on Insurance Claims

Download link: http://www.caclubindia.com/forum/files_download.asp?msg_id=555894

Download courtesy: CaClubIndia

Cash flow, Fund flow statements notes

Here is the powerpoint presentation on Cash flow, Fund flow statements.

Download link: http://www.caclubindia.com/forum/files_download.asp?msg_id=555873

Download courtesy: CaClubIndia

Accounts Notes

Here are the Accounts Notes

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=14931

Download courtesy: CaClubIndia

Accounts Theory

Here are the notes on Accounts Theory

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=18058

Download courtesy: CaClubIndia

Partnership Accounts

Here are the notes on Partnership Accounts

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=18959

Download courtesy: CaClubIndia

Sunday, August 28, 2011

Company Accounts

Here is the download link for notes on Company Accounts

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=18957

Download courtesy: CaClubIndia

NATURE OF ACCOUNTS (as per Traditional & Modern Approach)

Here is the download link for notes on NATURE OF ACCOUNTS (as per Traditional & Modern Approach)

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=19844

Download courtesy: CaClubIndia

PCC Advanced Accounting

Here is the download link for notes on PCC Advanced Accounting

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=20768

Download courtesy: CaClubIndia

Branch Account Notes

Here is the download link for notes on Branch Account.

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=25310

Download courtesy: CaClubIndia

Accounts for Banking Company

Here is the download link for notes on accounts for banking company

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=27862

Download courtesy: CaClubIndia

HIRE PURCHASE AND INSTALLMENT SALE TRANSACTIONS-IPCC/ATC

Here is the download link for notes on HIRE PURCHASE AND INSTALLMENT SALE TRANSACTIONS-IPCC/ATC

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=28056

Download courtesy: CaClubIndia

Branch Account (PCC/IPCC)

Here is the download link for notes on Branch Account (PCC/IPCC).

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=29290

Download courtesy: CaClubIndia

Investment Accounts - IPCC/ATC

Here is the download link for Investment Accounts - IPCC/ATC

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=28054

Download courtesy: CaClubIndia

THEORY QUESTIONS IN PCC/IPCC ACCOUNTS

Here is the download link for THEORY QUESTIONS IN PCC/IPCC ACCOUNTS.

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=30417

Download courtesy: CaClubIndia

Accounts Notes - IPCC/PCC

Here is the download link for accounts notes.

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=32532

Download courtesy: CaClubIndia

Thursday, August 25, 2011

CA Final Gr 1 - Financial Management

Here is the download link for CA Final Gr 1 - Financial Management past papers.
Past papers of FM from may 1997 to june 2009.

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41005

Download courtesy: CaClubIndia

RTP Final Nov 2011- Accounts

Here is the download link for RTP Final Nov 2011- Accounts

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41178

Download courtesy: CaClubIndia

RTP Final Nov 2011- MAFA

Here is the download link for RTP Final Nov 2011- MAFA

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41179

Download courtesy: CaClubIndia

RTP Final Nov 2011- Audit

Here is the download link for RTP Final Nov 2011- Audit

Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41180

Download courtesy: CaClubIndia

CA Final Group- II RTP for November-2011

Here is the download link for CA Final Group- II RTP for November-2011.
Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41392
Download courtesy: CaClubIndia

CA Final Group- I RTP for November-2011

Here is the download link for CA Final Group- I RTP for November-2011
Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41391
Download courtesy: CaClubIndia

E Journal August 2011 from ICAI

Here is the link to download E Journal of August 2011 from ICAI.
Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41139
Download courtesy: CaClubIndia

Wednesday, August 24, 2011

Learning from Failure - CA Exams

This is the article given by Madhukar N Hiregange

After the CA examination either at the PCE/ IPCC level or the Final level a student who has not been successful wonders what happened and why they have not been successful. Students when they introspect commonly feel that: there was less time, they knew the answer but did not answer, though they prepared hard they did not read the question properly, they spent too much time on one question and did not attempt questions which they knew.



The ICAI publishes every year the subject wise question wise suggested answers to enable the student to see where they have erred. Last year onwards the suggested answers are on the web site before the results were announced declared. The head examiners comments every year is also being hosted after the results.



The course requires full coverage in the studies and hard work is a part and parcel of the same. Some of the examiners observations as well as some best practices gleaned in the interaction with students who have passed/ not been able to and some tips on how to excel in examination/ preparation are part of this article.



The suggestions start with preparation and end with post examination behavior. Students may examine which of the suggestions apply to them and adopt them for facing the next examination more confidently.



1. Understanding the Subject: At times the basics/ concepts are not clear while studying [ even while taking coaching]. This requires that the doubts be immediately clarified from the tutor/ teacher, seniors, colleagues. If study material not clear read up recommended books for that topic. Periodically a discussion to sort out doubts in a group could also help in better understanding.



2. Emphasis on ICAI study material: The ICAI study material has been substantially improved in the past year and is being improved with suggestions from the various stakeholders year after year. Many students maybe at the suggestion of the private coaching classes or deterred by the size of the material choose not to read them. Though many students in the May 2011 attempt focused on the study material and were successful some students did not. The dependence on the study guides of the tutorials / coaching classed maybe good to the limited extent of understanding of the particular concepts taught in the class is concerned. The size however should not be the reason. It is advisable that every student should cover the study material as it is what has been prescribed of reasonable quality and more importantly is the official material for paper setters as well as examiners. The practice manuals would also help in understanding and practicing the problems. While reference to other books may add value the basic reference should be of the materials. The compliers/ suggested answers and other publications for students would also address the needs of the students as to how they are expected to answer.



3. Latest updates/ amendments: Some of the students who have not fared well were not aware of the changes in the law as applicable. This may be due to the fact that they were using old study material or were not keeping abreast of the same as announced through the student’s journal and web site and supplementary study material. This may happen as the date of issue of the material and the date of taking up the examination maybe far apart. This should be avoided as paper setter as well as the examiner would expect that the student to use the current material. This was observed in strategic FM. In tax papers especially in final the need to know the case laws was felt lacking. [Even though the citation/ name may not be necessary.] Ignoring the latest standards has also been the cause of poor performance of students in accounting and auditing.



4. Change in emphasis to understanding, application and analysis: Over period of time the Industry has been observing that that CA though very knowledgeable is unable to apply what he / she has learnt. Therefore the pattern of the question paper as you may have observed has changed to include that aspect. The tutorials/ coaching classes may have also changed their methodology of teaching. If not the students should ask them to spend more time on the same. Working out the problems independently may also be a solution whether at home or at the classes. Emphasis on memorizing may not have the sort of results as it had in the past.



5. Lack of Preparation/ Structure: It is observed that some students do not concentrate on the difficult subjects ( for them) and spend more time on the easy subjects. Such students may fare badly as they have to clear all papers in a group. It maybe advisable that they first deal with the difficult one and ensure that they can get through that. Subjects where this was observed in MAFA and MICS. It maybe advisable to prepare a chart of what would be studied when in the initial period with last 15 days/ 1 month only allocated for revision. Some students try to forecast the paper. At times the coaching classes also may do so. That may not be advisable as the hall mark of the CA paper has been its uniqueness and unpredictability.



6. Low level of knowledge of Acts/ Rules: In the law subjects not knowing the basic provisions can be a reason for low marks. The reading of the bare act could be a solution. The subject where this was observed was direct taxes, indirect taxes and corporate and allied laws.



7. Lack of practice: The papers where the problems are provided require practice of the same. Reading the study material/ practice manuals may not be enough. It is suggested that students may work out the problems to understand them. The subjects where there was a lack of practice were cost accounting, financial reporting and indirect taxes.



8. Ensuring that one does a few tests in all papers+ mock test: The taking of tests in examination conditions at least 30-45 days before the examination would provide a rain check on the extent of preparedness. Student would himself/ herself realize where they are lacking and concentrate on those to do well in the real examination.



9. Avoid Last Minute Cramming: The last minute overload would put pressure on the student and possibility of underperforming is very high. Students should get a good night sleep prior to the examination and come as relaxed as possible to the examination hall. It does to help to build up anxiety on the eve of the examination.



10. Avoid Coming Late for Examination: Plan to arrive at least 30 minutes early considering various aspects like traffic, rain etc. In the CA examination it is not advisable to miss out any part of the examination time. Further it may put one in a panic situation and hamper the answering.



11. Common Mistakes at the time of examination: There are a number of common mistakes which have been observed. Students may pick the ones which are applicable to them.



a. Not following Instructions: The instructions in the admit card and the question paper should be read carefully. Students who do not follow the same may end up quite unhappy. Not making any distinguishing marks/ appeal in the paper is one such example.



b. Illegible handwriting: If an examiner cannot read, student could end up with lower marks though the instructions are otherwise. Very small, large handwriting or lack of spacing [adding a line in between] could also be illegible.



c. Legible handwriting in main paper but illegible working notes. Since working notes also carry marks, chance of losing that if that is done.



d. Incorrect English language and grammar can confound the examiner who may have to read repeatedly and not be able to make out what the student wishes to communicate.



e. Not reading the question properly lead to answering totally incorrectly. Some time maybe spent to confirm what is being asked. [15 minutes time has been given from the May 2011 attempt onwards- which seems to have helped substantially]



f. Choice of sequence of answering. Start by answering the easy ones and the short comments answers.



g. Leaving margin for the examiner to enter the marks may also be advisable.



h. Long answers to short answer questions and vice versa not advisable. Vague answers to short answers would not get marks. Specific / brief answers sufficient for such questions. [ some correlation with the marks maybe maintained.] In case of shortage of time give only points.



i. Missing answering a question is not advisable. If not much known at least attempt the same.



j. Panicking and Giving Up : Panicking as some questions attempted not able to be answered properly. The same maybe the situation of many, therefore coolly continue to attempt and under no circumstances leave the hall in between. Einstein the renowned scientist says that there are many people in the world who gave up when they were so near their goal. Many students who continued to write the particular paper or the next paper though they felt that they had not done a particular paper well would vouch that thanks to that they got through.



Best of luck in the preparation for your examination as well as best of luck in your exam. May you come out victorious and excel as an ethical professional.



Madhukar N Hiregange FCA

Why to Depress Yourself - Work Hard Again

Here is the another article given by Richank Garg

Hi Friends,



I have seen that lots of students are depressed and disappointed just because of their negative results. I just wanted to ask one thing that now what is the point of depressing yourself? What I understand from the current situation is that the first few days after result are very crucial because they can break you. Here, at this point support of someone is a much needed medicine. So I am here to give you that support with my thoughts and suggestions.



Dear Friends, Trust me there is no need to worry and there is nothing wrong with your preparation. Only small improvisation in exam planning is required which you can do with the help of your senior’s suggestion. You have done your best and worked really hard to reach there and your preparation is fine. Just a smart finishing in your preparation is required to clear your exam. This finishing requires:



1. A Good Study plan.

2. A Good Revision schedule.

3. Self confidence.

4. Knowledge of good presentation skills.



There is no point spoiling your entire efforts by leaving CA or any other professional course. Today you have knowledge and experience so convert this into your strength and promise yourself to clear the next attempt with flying colours.



Now it's time to check what went wrong and work on your mistakes. As per my suggestion work out on your presentation skills. Make short notes of imp topics and keep revising them. Discuss topics with your friends for better grip.



I just wanted to tell you that since you all are quite experienced as far as CA Exams are concerned so why not to use this experience as your strength for the next attempt.



I personally feel that here in CAclubindia all of you have gel well with each other so come forward and help each other. Now the time has come that we have to pull up our socks as far as exam preparation is concerned and deliver good result.



I would advise you all to work on your strength area and improve weaknesses. I also suggest you all to fix up a time schedule for each deliverables and beat or meet the time lines. As you all know time runs out quickly so let us make full use of our time.



Let us set a new benchmark in terms of performance in CA Exams. I know you all are having lot of potential but now it is a time for execution.



I would further suggest you to please capture all the immediate requirements and start ticking one by one. Trust we all together can make a difference.



Please take care of the following points while preparing for exams and facing the results:



1. Select good books and right notes

2. Make day to day planning for studies and tries to achieve the same

3. Never waste your time

4. Take help from your friends. Use their experience

5. Never lose hopes even after negative results

6. Stay away from depression and isolation

7. Keep a good revision plan ready

8. Maintain your self confidence.



REMEMBER:



Honesty is the best policy so be honest to yourself and your studies.



Trust you all are with me in this Endeavour.



A famous quote you must be knowing !!!!!



Winners don't do different things but they do things differently.

All the Best

RG

Revised Schedule VI of Companies Act,1956

Here is Power Point presentation on Revised Schedule VI of Companies Act, 1956
Download link: http://www.caclubindia.com/share_files/files_download.asp?files_id=41347
Download courtesy : CaClubIndia

HOW TO PREPARE FOR UPCOMING EXAMS RIGHT FROM THE BEGINNING WHEN U ENTER THE PROFESSIONAL COURSE

This is the article given by Rahul Bansal

THIS IS MY SECOND ARTICLE EMPHASIS ON “ HOW TO PREPARE FOR UPCOMING EXAMS RIGHT FROM THE BEGINNING WHEN U ENTER THE PROFESSIONAL COURSE” like CA , CS, CWA, and many others.

HAVE A LOOK.



1 Study from ICAI / ICSI / ICWAI MODULES for all subjects supplemented by other books recommended by your coaching centres or friends. ICAI MODULES are must. Even, in exams many of the questions are framed from modules itself.

2 Make brief notes of relevant topics in one page which you feel that they are very important from exam point of view by in very brief and concise form so that it becomes easy to remember.

3 Make TIME TABLE for preparation of topics on daily basis or weekly basis. But, remember you should follow it. Any variation in time table must be taken seriously by you and take corrective actions.

4 Supervision is must for your TIME TABLE. And u can only become your own best supervisor for all ACTS u perform for exam preparation.

5 Ensure two revisions before you appear for the examination. In other words, a minimum of three readings should have been completed by the time you appear for the examination.

6 Look all the question papers of previous examinations so that you easily cope up with answering question framed during exams. It’s very compulsory for each and every student.

7 Based on weightage to each topics of every modules, prepare accordingly and spend more time and effort for important topics. But be careful, don’t ever go blindly with the last 5 year’s paper trend. It may be change in your exam case.

8 In the case of theory subjects, focus on understanding the concepts thoroughly . Read each topics again and again. U will memorise them automatically.

9 In the case of numerical subjects, such as accountancy, costing and mathematics, focus on understanding the methods, formulae and format of presenting the solution.

10 Practice makes the man perfect.

11 Have group study once in a week. It will prove boon to your preparation.

12. LASTLY, “Winner’s don’t do different things, they do things differently.” Be a “WINNER”.



REGARDS

RAHUL BANSAL

Tuesday, August 23, 2011

Important Questions & Answers on Information Technology

VERY IMPORTANT FOR IPCC/PCC. ALL QUESTIONS ARE TAKEN FROM PREVIOUS YEAR'S QUESTIONS & RTPs
Here is the download link : http://www.caclubindia.com/share_files/files_download.asp?files_id=40170
Download courtesy : CAClubIndia

Sunday, August 21, 2011

How to prepare and score well in Audit subject

This is the article given by Richank Garg


Dear All,



As we all know Audit is a very important and tricky paper for PCC and Final level and responsible for student’s failure some times. To excel in Audit proper preparation and planning is very much required to avoid failure. Further Audit is a paper which requires a practical approach towards actual Audit work.



According to me while studying audit paper you should consider yourself as an auditor and analyze and comment on the situation as an auditor.



Some of the points which can really help you to score well in Audit are as follows. Sincerely hope that the same would help you to deal with audit paper.



Some of the important and common topics for IPCC and Final Audit are:



1. Accounting Standards (AS) and Auditing Standards (SA)

2. Company Audit

3. Verification and vouching



1. PREPARATION AND APPLICATION OF SA AND AS IN AUDIT



In Audit paper Accounting Standards (AS) and Auditing Standards (SA) plays very crucial role. This role has two way functionality. One is good preparation of AS and SA give good confidence to deal with exam paper and pressure; Second is good preparation of AS and SA helps you to deal with real job situations during your professional journey.



Special attention to SA and AS is required to be given. Along with good knowledge of SA and AS the technique to apply SA and AS in audit practical problems should also be clear to you all.



To understand the application of SA and AS in audit practical problems I would advise you to observe the application of SA and AS in the scanner solutions and ICAI suggested.



It is also advisable to mention SA in audit paper wherever required just like sections. For example if some where going concern word is used in the context of Audit, you may mention the relevant AS no. where “going concern” is defined and explain the same if you have time.



All am trying to focusing to the connectivity of AS and SAs. For example while explaining SA-5 you can connect SA-16 in a good manner then go for it. Show your knowledge. Remember 20 to 30 marks are covered by SA and AS. So prepare accordingly.



2. READ EVERYTHING IN AUDIT WITH OPEN MIND



As per my understanding audit is a paper requires lots of quick and logical application of mind to answer practical problems. Hence I’d suggest you to give a reading to ICAI audit study material to understand the depth and figure out the efforts and time required for preparation. By this kind of reading you may prepare a strategy for audit purpose.



Here you can make necessary notes for yourself on the study book during reading. This will surely help you to deal with audit subject later on during final preparation.



During this study keep scanner with you to figure out the important topics. Later on use any good notes to prepare. Remember at this moment you have everything in your mind like what is imp along with basic idea of the topic and chapter.



3. SELECTION OF RIGHT BOOK



As per my suggestion selection of right books is very important. I’d suggest you to go with Paduka book along with Surbhi Bansal’s notes for reference. Timely reference of ICAI syudy is also recommended.



Surbhi Bansal’s notes/books can be very handy for the preparation of SA in Audit paper.



4. ANSWERING PRACTICAL QUESTIONS



In Audit paper Practical questions plays an important role. These Practical questions mostly based on Practical questions Accounting standards and auditing standards. Here I’d advise you to refer DS Rawat book for preparing Accounting standards. Always remember good command over Accounting standards and its application to practical questions are the real key to score in audit.



Further Accounting standards are also mandatory to prepare for Financial Reporting paper or Accounting paper. So give special attention to AS.



5. STRATEGY FOR COMPANY AUDIT



Strategy for company audit also needs to be prepared well in advance. Weightage of company audit is very high in audit paper. For this I’d suggest you to prepare well all the relevant sections. Refer previous exam practical problems asked in previous exams.





6. SOME OTHER GENERAL POINTS



I would strongly suggest you all to stick to the basics of study to avoid further failure and ensure success. For me some basics of study are as follows:



a) Timely completion of course material—Very first basic thing is to finish your course to have better idea of course structure. This will also help you to prepare a good revision schedule along with study plan.



b) Timely revision-- Another basic study point is to give ample emphasis to a good revision plan. There is nothing is this world which can substitute a good revision plan. To succeed revision is must.



c) Ample amount of practice of Numerical [account and cost] questions-- One major reason of student failure is bad performance in practical questions. So ample amount of practice of Numerical [account and cost] questions is must along with perfect conceptual clarity.



d) Right amount of theory preparation in practical subjects—Most of the students don’t give due value to the theory in the practical subject. So right amount of theory preparation in practical subjects is equally important. The best way to solve this issue is to prepare notes of frequently asked theory questions from Scanner.



e) Selection of right books—Another basic point for good preparation is the selection of right reference books. So take help from your seniors in choosing right books.



f) Good presentation of theory— Lack of good presentation especially in theory paper is one of the major drawbacks for most of the students. In theory subjects good presentation of theory is must along with mentioning case laws and sections etc. So I’d request you all to take note of the same.

Saturday, August 20, 2011

IPCC May 2011 suggested answers by ICAI (Information Technology and Strategic Management)

Here is the download link to suggested answers of IPCC May 2011 exam.
Paper 7 : Information Technology and Strategic Management
Download link : http://www.caclubindia.com/forum/files_download.asp?msg_id=797504
Download courtesy : CaClubIndia

Tips for CA students........!! - S.Supriya

Here is the article which I came across internet given by S. Supriya

Hi Friends,

I think everybody is anxiously waiting for results,

CPT students think about how they are going to IPCC

IPCC students feel “whether I will clear both groups / single group?”

If I clear only 1st group can I go for articles now or after writing g...roup 2 exams,

If I have to go for articles, as I have group 2 exams so I have to choose a firm where I can have exam leave…………

These are the thoughts many of our friends are having…..

So I just want to share some points that are to be considered for joining articles:

(These points are only my thoughts based on me and my friends’ experiences)

In every firm there will be advantages and disadvantages, so we have to consider how the advantages are favoring you. Not preferred in Big 4 - because there the main disadvantage is that department wise work will be allocated and you will there in one department for example Compliance Department where you will be perfect in compliance but no knowledge in Tax Audits, its enough if they have some company audits, tax audits, special assignments. Similarly you should not go for Individual Auditors – because there work burden will be there but exposure will be less. Firms in Metropolitan cities are preferable – to have good exposure in audit and facilities for coaching. Minimum no. of articles should be there so that entire work burden won’t fall on you. Leave – Exam leave must be given as per ICAI Rules. Some people think that we need leave for coaching and preparation. For that purpose many will prefer some known auditor who gives leave or go for Dummy Articles. But just think why CA course is having its specialty when compared to other professional courses, this is only because of practical training and simultaneous Studying. The one who can manage both at a time will get through CA in first attempt.

I feel that there will be something special in every qualified CA as he also crossed our stage. So while interview is going on, you can observe him and find whether he will be friendly in teaching when you do mistakes. Choose a firm where there is scope even though you do mistakes. This 3 years period is very short period to get trained as an auditor. So make use of this period.

(My personal experience - where I am unable to answer questions in two interviews at one place Interviewer encouraged me and at the other place I got discouragement)

Some of my friends have joined articles after completing Group 1 thinking that they can go for a better firm after clearing Group 2, but is it necessary to get terminated at place and go to another firm again. So I suggest you to join a firm with an intention to continue there. Finally to conclude is that you have chosen a nice destination (CA) , so try to have a good path for reaching there.



All the best

Regards,

S.Supriya

IPCC May 2011 suggested answers by ICAI (Auditing and Assurance)

Here is the download link to suggested answers of IPCC May 2011 exam.
Paper 6 : Auditing and Assurance
Download link : http://www.caclubindia.com/forum/files_download.asp?msg_id=797487
Download courtesy : CaClubIndia

IPCC May 2011 suggested answers by ICAI (Advanced Accounting)

Here is the download link to suggested answers of IPCC May 2011 exam.
Paper 5 : Advanced Accounting
Download link : http://www.caclubindia.com/forum/files_download.asp?msg_id=797486
Download courtesy : CaClubIndia

IPCC May 2011 suggested answers by ICAI

Here are the suggested answers for IPCC May 2011 exam.
Download Group 1 : http://www.caclubindia.com/forum/files_download.asp?msg_id=797460
Download courtesy: CaClubIndia