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

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