17 April 2013
About Audit: Please can anybody tell me how to prepare for the CA Final Audit and which book/note is best for preparation. And only ICAI materials is sufficient for preparation. Please rply as soon as possible. Plz help me...............................
About SFM: How to prepare SFM. I am unable to start the Q. My concept is so much cleared, but i m always unable to start the Q. i m not understand that how to start the Q solution . Please help me out.........................
17 April 2013
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.
All the Best and Regards
BOOKS FOR CA FINAL
You may go for the following options regarding books for ca final:
1. For Accounts: M.P. Vijay kumar or Shukla & Grawal along with Module And Compilation and for AS part go for D.S. Rawat
For CA Final AS preparation---Dolphi Desouza is good.
2. Strategic Financial Management : V Pattabi Ram
3. For Adv. Auditing & Professional Ethics: Prakhar Sharma/Paduka/ V.K Agrawal Note: (MP Vijay Kumar can be used for AS reference)
4. For Corporate & Allied Laws: Munish Bhandari and Bare Act
5. For Mafa: Module and Notes of Tarun Mahajan. You may also refer A.N Sridhar.
6. For Direct Taxes: TN Manoharan (Theory part), Circular, Notification, Amendments, case laws. Also refer Vinod Gupta Modules.
7. For Indirect Taxes: Vandana Bangur
8. For Information System control & audit: Module and Dinesh Madan
9. For Costing: Saxena and vashist or Ravi M Kishore with module
10. For Financial Reporting: MP Vijay Kumar or Paduka
Also refer Scanners and Suggested Answer issued by ICAI for previous year exams and revised them properly.
For some good notes explore CAClubindia forum and share file section. You may also use search facility of club.
CAclubindia
