Paper Analysis of CA Final (Financial Reporting - New Course) for Nov 20 Exams

The burden of exams this year on students is a little different than usual. With the pandemic situation reaching its near zenith, this year students were highly perplexed about giving the exam. Over thirty thousand students opted out from this cycle of the exam. However, still, a large number of students did appear to give the exam.

This cycle's Financial reporting paper was quite lengthy. It included 20 pages and highly descriptive questions. Nonetheless, the paper was not made to be a tricky one. In fact, except for the one question, the whole paper was fairly easy. Every question was from Financial Reporting's module.

The one question that stood apart from the rest of the question paper and question patterns was put up to check the conceptual clarity of the students.

As per the paper, the questions can be analyzed in the following way.

Q.1) The first question was compulsory with two parts for a total of 20 marks, 12 marks for the first part and 8 marks for the second.

a- The first part is from Indian Accounting standard 32 (Ind AS 32). The question is quite easy to understand.

b- This part of the question is from the Indian Accounting standard (Ind AS 33).

The questions that followed the earlier question are also 20 marks each however they are not compulsory. One had to attempt 4 out of the remaining 5 questions.

Q.2) This question had two parts as well for a total of 20 marks. The first part was for 14 marks and the second part was for 6 marks.

a- The first question has 3 separate parts and is from Indian Accounting standard 115.

b- This part is for 6 marks and is from Interim Financial Reporting, Indian Accounting standard 34.

Q.3) As per our speculations, the chances of getting such a question in the paper were fairly less. However, we see that such a question was asked. This question had 3 parts for a total of 20 marks.

a- The first part is for 8 marks and was from Indian Accounting standard 116.

b- The second part is also for 8 marks and is from Indian Accounting standard 32. It was a question of impayment.

c- This question is easy and attemptable. It is for only 4 marks and is from Indian Accounting standard 2.

Q.4) This question had 3 parts for a total of 20 marks.

a- The first question was for 6 marks and is quite easy. It is from Indian Accounting standard 32.

b- This part is for 6 marks as well. It is from segment reporting, Indian Accounting standard 108.

c- The last part of this question is very long however it just needed easy simple calculations to solve it. The question is for 8 marks and is from Indian Accounting standard 103.

Q.5) This question had 3 parts.

a- The first part is for 6 marks and is from Indian Accounting standard 19. This question asked all the basic parts of Ind AS 19, like what determined among the following as employee benefits and how can one calculate employee benefits.

b- The second part is of 8 marks and is from Indian Accounting standard 110.

c- This is the trickiest and newest question in the entire question paper altogether. This question is for 5 marks and is from Indian Accounting standards 110 and 28. It is framed smartly. It requires both, the "equity method" and the "consolidated finance".

Q.6) This question has four parts.

a- A similar question was asked in the institute's paper in May 2018. It is from Indian Accounting standard 102. It usually comes for 8 marks but this time it was for only 5 marks.

b- Almost all the basic questions from the Indian Accounting standard 12 were asked. ICI Module has given four adjustments, however, only 2 were asked here.

c- This question is for 5 marks and is the easiest of all questions. It is a CSR related question.

d- This is the last question of the paper for 4 marks. It is asked from Indian Accounting standard 115, Revenue Recognition.

Chapter Wise Marks Breakup

The questions were asked from consolidated finance, business combination, etc. The main focus of the paper was on business combinations and financial instruments. These questions had quite a weightage in the entire paper. This time the institute has also tried to ask only those kinds of questions which students do not mostly pay attention to. This makes us understand that the paper requires a broader amount of proficiency in the subject to pass one of the toughest exams of the world. However, with constant practice and regular coaching, this could be attained. To not to get out of the routine of practice is central to pass such an exam.

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