Wednesday, April 13, 2011

Effective Tips to clear Accounts, Costing and SFM

This is my simple effort to bring some of the useful exam tips to score good mark with Accounts and Costing (Both I P C C Level and Final).
This is my humble effort to those who are writing I P CC and final exam to give some good input in to this practical subject. This is mainly target to those who had failed frequently in the above segment and those who have poor exam result despite of their hard work. There are two parts this article contains. First is the preparation part and second is the exam point of view. Even if it is lengthy, but useful.

Before start preparation (Do the following exercise without fail)
1. Plan mentally: - Accounts and Costing and SFM papers seems to be highly practical impact with today scenario. Mentally prepared for surprise, real time and twisting questions. So, plan mentally to handle such questions during your exam.
2. Classification of most and least relevant segment: -Take either Padhuka or scanner for this purpose. See the maximum mark topic and least mark topic. In November exam, particular topic will be more mark and never ask for May and vice versa.
3. Frame a check list of FAQ in the past exam with the help of scanners (Some question may 5 times repeat some). Take a paper, extract such details. SFM capital budegeting, Lease etc fall in this group
During preparation (Do the following exercise without fail )

1. Good and effective preparation( FAQ and relevant area)

Costing and SFM, concepts play a good role, Read the concepts from the basic theory. Understand the concepts. Solve the problems with out refereeing to the solution part. Allow you to commit the mistake freely. Note it down in a work book regarding the area who had committed the mistake and the reason for committing the same. Do the exercise part.


Read the problem>>Understand the concept>>highlight the Figures>>Solve the problems without referring the solutions.

For Accounting good idea of entry formation is required for I P C C and for final good conceptual clarity is required. Take care the AS aspect also.

Operational research segment warrant your mathematical ability.
2. Good revision plan


The area learned particular day (Sunday) must be revised Wednesday without fail.You are not required to do whole the problems rather one problems which may affect all the segment is more than enough.

3. Keep a work book:- Note down your daily target and issues in a Work book Or Scheduler. Monitor the same closely and rectify without failure. This activity should be done Regular basis.

4. Reference book and scanners and suggested answers in tandem.

This will give you a full bird eye view. Start with reference book, solve the problems as suggested in the above methods. Then comes to the past exam question. Understand the practical exam question pattern, solve that without referring the solutions. This will improve your potential to the exam
5. Give extra care to the theory segment, some time the theory part may be boring or lengthy. Open a new note book for this purpose.
6. Take the list of FAQ (Frequently asked ) of theory for the exam. See the repetition frequency with the help of scanner.
7. Study with full concentration. Study according to your biological clock.
8. Quantitative technique require a good mathematical back ground. Solve more problems from this segment. I hope this is a scoring segment when compared the same with costing.
9. Those who studying Padhuka, solve the illustration with the help of concepts, never look the solution and come back with the exercise ( Both for costing and QT segment).
10. Never add any thing new during the last 15 days before exam, rather focusing on what already learned.


During exam ( Do the following )
1. Some time your exam question may be lengthy and tough also. Never be panic or over excited. Both are harmful. Control you emotion to a normal level.
2. Read all the question without fail.
Highlight theimportant points and figures as well. This point will catch your special attention at the time you are solving the questions. This will help you to extract the relevant points from the lengthy questions. Better use pen to highlight rather than a highlighter.
3. Adopt a good time management strategies. Allocate a maximum time for all the questions. Try to finish it within the time.
5. Good presentation for your exam: -

a) Working notes play a good role. If you arrived at any calculation by applying some logic, give the same thing as working notes. This will enable the examiner to judge your answer.

b) Present your answer in Good and readable format
Write the answer in a readable format with good drawing. But never spend more time for beautification of drawings. This beautification can because you trouble.

c) Classification of exam time
Classify your total time in to two based on the hardness of your questions. First half can be called normal time and second half is called a strategic time. (In cricket you can compare it with power play).
Start with easy questions (practical) and theory questions first (Normal time) and leave the toughest questions to Strategic time.

d) Partial solving of the problems
partial attending the questions and finish it at later: - If the flow of the question broke at this time, leave that question, attend other question, if that also broke attend other questions. Proceed in this manner. Come back with these partially attended questions, try to finish it.
e) Attending Full questions without fail

try to attend the question that you may be even not know well or not prepared.100% attending all the questions.

6) Mark distributions:_ Accounts papers, Costing and SFM carries step marks. If the final answer got wrong but you had done good with all your steps that can help you to clear the exam with good mark.
7) Never compare the answer of your friends.


Also don’t forget to refer this also

Effective tips to Clear audit and law papers

Wish you all the best
Happy exam writing
CA vivek M
castudenthelpdesk @ gmail.com
http://castudenthelpinghand.blogspot.c

MY Tips to CPT students

ear friends

CPT is a Gateway course to CA and after introduction of CPT, ICAI can able to bring a good number of potential students. Erstwhile, if a student secured rank in matriculation level, they have a ready made answer that Medicine or Engineering. Now the scenario got total change.

Since the students at Gateway level have so many confusions they in fact require some guidance during the entrance level. I thought it is better to pore water on root rather than on leaves and my some suggestion for CPT segment. Since, till now I had not done any articles which are targeted for CPT segment. My mission hereby to give a bird eye view to CPT Aspirant.



Your approaches to studies

I had seen that many of the CPT students were focusing and solving as many multiple choice questions as possible. Not giving due weigtages to subject based questions. As a result, they were moving like a Robert. Your study will be mechanical.

This is not a right approach. You may some how manage or clear. But if the foundation is weak your total structure will wreck. So I advise learn the concepts and understand the logic. Then come to multiple choices and apply those logic and concept. This method will far perform better.

Approaches to various subjects

1. Accounts
Here you require a good and sound basic knowledge. If you learned plus 2 level basic, brash up the same. Most of the exam questions were based on this simple level.
Secondly If you have good basic knowledge, that will improve your advance level. Understand the basic and come with multiple sections. Apply needed practice and solve that segment.
2. Business law
This segment, at the time questions may be application oriented and out of your books. You have to apply your own logic to solve the questions. This may be a new subject for you since you have not learned it at school or college level. Pay additional care to this segment.

Understand the concepts, and apply with multiple segments. More exercise will make you more perfect. I suggest pay additional care to this segment.

3. Micro economics
This is not a new subject for you. School level and plus 2 level you may be have a basic idea about this. Here you are just required to brash up the concepts first. if you good with concepts, answer will flow automatically to you. Nothing to worry about this segment in short.

4. Macro economics
These are not new and have to put some pain and effort to get through it. I hope around 25 mark questions alone from this segment only. So like business law you have to give additional care and cautions to this segment. Here common sense some time play much role . You may be ready to write the questions out of your book at time.
5. Mathematics and statistics
I surprised what the maths can play in CA course. But later I understood, it has applications in various levels. Some students, this segment have some problems. But nothing doing, you have to learn maths and statistics well and apply the same in multiple choice segments. Never leave these segment in total, since exam pattern had set in such a way that you cant pass the exam unless you score this segment.
Around 25 to 30 marks can be expecting from this single segment. Solve as number of problems as possible. This will improve your speed at exam.

Coaching
Those who are new, other than commerce stream better undo coaching. Like wise if you are weak with any particular subject (Accounts for non commerce and mathematics for commerce students) undergo a good coaching. This will help you a lot. Invest resource where ever warranted.
Other than the above, no coaching is warranted. So many money making institutions are there. Never let them flourish unduly.

Books
Scanners, past questions, ICAI materials and any other good reference books. Even if you don’t have reference book, you can manage some how with modules.

At Exam hall Do and DONT
Never be copy the answers of others. If you do so, and caught then life time Bar. You may be subject to same mistake of your neighbors’.
Never waste the time unnecessarily and adopt a good time management skills here. If you not know a particular questions try to attend it last moment. Since wasting of time have a cost.
Never be tense. Try to solve those question that u know well and difficult questions only duing the last hours.
Never discuss about exam before or after the exam. This can cause only disappointment.

Last words to you
Never join the course since some of your other friends are doing the course. Or your parents are Chartered Accountant and want you to route through the same channels. If they do so, it is a crime and it is an injustice to your children.
Join the course with self interest. Willing to face any difficulties


Wish you all the best
CA vivek M
castudenthelpdesk @ gmail.com
http://castudenthelpinghand.blogspot.com/

Is CA I P C C Result will be Favourable

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