What to do after Exams? (Part -2)

Greetings of the day to all the members of CCI Family.

First of all I would like to thanks each member of CCI for such an amazing response to my previous part i.e. “What to do after exams?”

The link of the first part is given as under:

“What to do after Exams?”

In the previous part I discussed about what needs to be done for students who have given both groups i.e. much of the content was for both groups’ students.

In this part my focus would be on students who have given only 1 Group i.e. how to utilize the time till results in an optimum manner.

In this article I would be discussing on the following –

1. What to be covered till results

2. Content in relation to each and every subject in both the groups

3. Other things relevant

P.S: This article is applicable for students who have given First group, as I would be discussing in relation to second group. Those have given second group this time, may wait for the third part of my series.

So let’s start with it:

Advanced Management Accounting – (Things to be done till results)

a. First of all start with the Relevant costing chapter as it forms a base in AMA. When you are done with 75% part of it, I would suggest students to start with OR (Operational Research) Side by side to avoid fatigueness. As it is often seen that students get bore because of long questions in AMA, so OR will help to overcome fatigueness.

b. After completion of Relevant costing and 1 chapter of OR, start with make buy and side by side another chapter of OR.

c. Now with the same process you have to complete Key factors, Activity based costing (ABC) & Transfer pricing (TP) with OR.

d. After this you would be done with all the above chapters with OR.

e. This needs to be done in AMA till results.

f. The whole process will take around 10 days.

g. If you are done with the above within time i.e. some days are left then start with the theory part.

Information System Control and Audits (ISCA) –

a. Start with the Information concepts chapter. As it is very lengthy follow the same strategy as given in AMA.

b. With this chapter you need to complete the last chapter i.e. New Technologies in relation to cloud computing.

c. After these two chapters start with SDLC (System Development Life cycle Methodologies), follow the same strategy to avoid ambiguity.

d. Along with SDLC you need to do BCP/ DRP & Information Technologies.

e. That needs to be done till results.

f. The whole process will take around 8 to 10 days.

Direct Tax Laws –(DTL)

a. In DT you should start with Capital gains. Follow the same strategy as provide above.

b. Along with capital gains do the following: Minimum alternative tax, Alternative minimum Tax, Taxation of partnership firm, Taxation of AOP, Deductions under chapter VI-A.

c. After completion of above start with Wealth tax.

f. Then at last do the following –

i. Assessment procedures, Tax deducted at source, Taxation of Non Residents.

ii. This needs to be done till exams.

iii. The whole process will take around 10 days.

Indirect Taxation –

a. Start with customs. Now to questions what needs to be done with customs?

b. I would suggest you all to start with excise.

c. Excise is really vast. It can’t be done at once. So to overcome fatigueness it should be done with customs.

d. Once you are done with customs and even 25% part of excise, start with service tax.

e. Service tax is not vast but is does involve complexity. While doing service tax one thing needs to be taken into consideration i.e. give 100% attention while doing Reverse charge, E/N 25/2012 and the Point of taxation parts.

f. Questions are framed keeping in mind the above three i.e. a mixed question is framed.

g. We gave 15 days for IDT. And I guess if you complete customs, Service tax and even 60% of excise that would be sufficient.

Additional Points –

a. The above given strategy is made keeping in mind the writer preparation while he gave exams in Nov’14.

b. If you think it’s not appropriate for you than its perfectly fine.

c. Students may do what they feel like.

All the very best for results.

About the Writer –

CA Final Student (Gave Nov 14)

CIMA Management Level

B.Com (P)

For any further help writer can be contacted at sanyam.arora27@gmail.com