15 August 2014
Let me tell you my way of studying Audit. This technique is also helpful for other theory papers.
Strategy to prepare Audit
QUICK READING APPROACH
First give ICAI audit study a quick reading to understand the depth and figure out the efforts and time required for final preparation. You would appreciate that through this quick reading you would be able to figure out where extra efforts are required in audit subject and plan accordingly.
Make necessary notes or put suggestions or mark strategy for yourself on the study book during first reading. This task helps you to deal with audit subject later on during final preparation. Pre-condition for this first study is --- go ahead for quick study with a completely relax and chilled mind. Your main purpose behind this quick study is observation and formation of a plan to deal with audit.
During first study ride prepare a plan for final preparation. Also use scanner for making the plan. 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.
SPECIAL ATTENTION TO SA AND AS
Also give special attention to SA and AS. Only good knowledge of SA and AS is not enough but you must understand the technique to apply SA and AS in audit practical problems. For this purpose refer ICAI suggested answers and observe the application of SA and AS to the problem. Another benefit of this task is—it also helps you to understand SA and AS in a much better way.
The suggestion above is based on my personal understanding and may easily be rejected or accepted by you. In any case please share your feedback.
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:
In CS and CA exams scanner plays an imp role so take reference and base your study on scanner. Please take care of the following points:
1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
You are also advised to regularly check the link given below for the purpose of keeping you in sync with latest amendments and keep a track of changes in Syllabus and various amendments from the BOS knowledge portal of ICAI:
You are humbly requested to refer the links mentioned below for some useful notes and exam oriented suggestions and tips. I am sure these links will give you encouragement and idea about how to start preparation, tips for self study, name of reference books, tips for attempting theory and practical paper, tips for improving presentation skills and about everything you want to know.
I am sure these links contained the solution of all your doubts.
Some Exam Suggestions and tips for November 2014 Exam
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