Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
Replied 13 August 2010

Important Suggestions for PCC and IPCC Students for Exams & Preparation.

Paper 2 : Business Laws, Ethics and Communication

Syllabus of Paper – 3 Business and Corporate Laws:

The given below table describes weightage of marks including options

Chapters	Particulars	Avg. Marks
CHAPTER - 1	The Indian Contract Act, 1872	15
CHAPTER - 2	The Sale of Goods Act, 1930	10
CHAPTER - 3	The India Partnership Act, 1932	10
CHAPTER - 4	The Negotiable Instruments Act, 1881	15
CHAPTER - 5	The Payment of Bonus Act, 1965	10
CHAPTER - 6	The Employees Provident Fund and Miscellaneous Provision Act, 1952	10
CHAPTER - 7	The Cooperative Societies Act, 1912 Including the Multi-state Cooperative Societies Act, 2002	10-15
CHAPTER - 8	The Companies Act, 1956	55
	Total marks with options	135-140

Books to be Referred.

Study module
Compilation
N.D. Kapoor
G.K. Kapoor
RTP of upcoming exam.
Personal notes of cases and sections

General Guidelines for Law

Business Law

Start with easy Acts like Bonus or EPF. It will enhance your confidence.
Go through module first. Don’t try to mug it up just understand the main

content of the topic.

Note down the important points and cases in a separate book.
Further try to complete special contracts first like quasi contracts,

bailment and pledge, indemnity and gurantee etc.. it is because most of

the questions in last exams are asked from this part only.

(The Indian Contract Act, 1872)

Don’t waste too much time behind remembering cases and sections.

Its because institute wants knowledge from you about provisions regarding particular Act

Not sections.

If you write right section but your answer is wrong than you will not get

enough marks you m ight get just half or one mark.

But if you know the provisions and your answer is right and even if don’t write the

section or case you will get 3 to 4 marks.

I tried that thing and got succeeded in it.

Institute generally asks practical questions from

this chapter and also almost in every chapter in last exam.

So if you know the theory very well but if u can’t apply in practical questions you will

get only passing marks.

So compilation will be great source in understanding what institute wants from us

Please don’t leave all the cases and sections if you have power and time to memorize

sections and cases than please go for it.

I am not saying that they are not important. But main thing is provisions.

Just try to memorize important sections like minor-Sec.11 in

Mohiri Bibi vs Dharam das ghose.. of contract Act, 1872.

Never try to leave in option anything completely. Just read it 2 or 3 times

for reference if any part is asked from such less important parts like general contracts in contracts. Its important because in case an easy question is asked from this part you can answer it easily rather than leaving it.

Prepare a separate note for each chapter in which you should write the important topics, sections and cases and amendment if any (e.g. negotiable instruments act. In 2002) in brief which you can revise speedily at exam time. It is because you will not be able to revise all the lengthy 8 acts in two days on exam.
I think you all have seen 3 idiots. It sends an awesome message which says that don’t be exam oriented be excellence oriented. Institute normally wants us to be aware of general and working knowledge of different acts not expertise so please don’t think about mugging each and everything
For EPF act please write each and every answer at least 2 to 3 times in a rough book from compilation and module. It is so because it contains very rigid language and difficult to remember.

Corporate Law

Please go through compilation first (including PE-II’s compilation)
Then from G.K. Kapoor just go through for 1 or 2 times regarding different small terms and definitions like share, stock, share warrant, allonge, etc.
Don’t spent too much time in Company law from module as it is lengthy and you also don’t have time to complete it. It is because Institute now asks mostly practical problems from each and every act. They hardly ask theory and also if they ask we can attempt it easily or we can took it in option. But please this does not mean that you should feel relax about company law. You have to do it but in a systematic manner as I did.
From module do meetings and proceedings, dividends, borrowings, minutes & returns. It is because that part is much easier and also important from exam perspective.

Note:

Students of PCC and IPCC should not that above points are applicable to only those points which are in their syllabus.
Don’t follow points which are not applicable to you which is not in your syllabus.
Try to understand the basic method of working with Law subject.

With Regards,

Kalpesh Chauhan.

(PE-II November 2009. Paper -3 Business & Corporate Laws – 81 Marks).

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8311 Points)
Replied 13 August 2010

To all the students don't worry main hoon na...!

Just go through below article of mine, you will find easy to prepare for nov. 2010 exam.

Important Suggestions for PCC and IPCC Students for Exams

ALL THE BEST

(Guest)

ya kalpesh thanx alot yaar........... really nice yaar

u got 81.... really amazing.........congrats

(Guest)

Originally posted by : Kalpesh Chauhan, PE-II cleared
	To all the students don't worry main hoon na...! Just go through below article of mine, you will find easy to prepare for nov. 2010 exam. Important Suggestions for PCC and IPCC Students for Exams ALL THE BEST

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 14 August 2010

SOME PRESENTATION SKILL FOR WRITING PROFESSIONAL EXAMINATIONS

As we all know presentation plays a very important role in fetching high marks especially in CA Exam. You may use the following tips which I have observed during my study and used in my CS and CA exams:

1. In practical problems never start your answer with Yes or No unless you are 100% sure. First mention the relevant provision and show in your answer how you reach the conclusion. In the end conclude your answer in the following manner : “On the basis of above discussion we can conclude that as per the Section-166 Annual General Meeting can not be convened on a public holiday.” (Consider this as an example).

On the contrary if you are 100% sure from the very beginning always start your answer with Yes or No. Like in the above problem it is very much sure that AGM can not be held on a public holiday.

2. Try and always mention the relevant section. Make it a habit. Do not ask anybody regarding the importance of remembering a section. If you make it a habit now it will 100% pay at the time of your final preparation.

3. In distinctive question never segregate 2 provisions with the help of a line.

For example: Distinguish between Fixed and Floating Charge

Mention the distinction in the following way:

(i) Fixed charge is created in the specific property on the other hand floating charge is created on the class of property.

(ii) Fixed charge clutch the property whereas floating charge floats over the property.

Conclusion: You should use “on the other hand” OR “whereas” to club two different provisions.

4. Use only Blue and Black Pen to write. Never use any other colour otherwise wastage of time and bed impression on teacher.

5. You may underline the relevant provision or any substantial provision.

6. Start your answer from a new page with the heading “Answer to Question No. 1/2/3 or 10”

7. Try and improve your recalling power. When you firs see the question the entire answer should be in your mind. (Yes it is 100% possible). Benefit: You’ll be able to complete your answer with more valuable content as compare to others and very quickly & within a certain time frame. When other writes 5-6 points you write at least 8-10 points.

8. In theory paper never read practical problems first. First attempt flat questions. Like in Audit or Law first attempt short notes or distinctions etc.

Reason for not attempting the practical problems first is that in the beginning you have enough time to read it twice or thrice and waste your time.

9. If you mention any case law highlight it properly. Write it in the following way:

Ram Singh

Vs.

Union of India

10. In distinction problems first write something (2-3 lines) about the topic. Example: Like in the distinction between Interim and Final Dividend write some about Interim and Final Dividend and mention in the end: “hence the points of distinction between Interim and Final Dividend are as follows”

11. If in a passage there are various points try and write them separately in points and give them separate number.

12. In exam never use short forms like AGM, EGM, CG, CLB, ROC, ICSI, ICAI, SAP, AS.

Etc.

13. When you start your answer by using a section use like this:

“As per Section-171 of the Companies Act, 1956”

14. Do not worry you may start your paper by answering question No. 10 first.

15. You may experiment all these points in your university exams or rather I would say you should use university exams to improve your writing skills.

16. I have seen many students after receiving their exam copy start making margins with their scale on the left side of the exam copy. This is some thing really horrible. Avoid it.

17. While writing be specific about your answer. In other words write your answer to the point. (Faltu copy bharna baker hai professional exams mai)

18. Try and make an effort to complete your paper 100%. In other words attempt full paper of 100 marks. This is very important for fetching more marks.

19. Try and avoid cutting of words. (See the example below)

Whenever a company fails to file the annual accounts and annual returns, desc -ribed in sub-clause (A) of clause (g) of sub-section (1) of section 274, persons who are directors on the last due date for filing the annual accounts and the annual returns for any continuous three financial years commencing on and after the first day of April, 1999, shall be disqualified.

Observe the first line of the Para above and see the word described. Half the word is in first line and half is in second line. This is some thing very poor as far as professional exams are concerned. So avoid it.

20. During your preparation try and study everything. Everything here means each and every topic. The basic idea behind this point is that you must have something relevant to write about the given topic.

For example a short note came in the paper regarding “Reserve Capital” u/s 99 of Companies Act, 1956 if you have never ever heard about Reserve Capital then you’ll be completely blank. So to avoid such situation this point may be prove helpful to you all.

Hope you all agree with me on the above mentioned points. I am very hopeful that these points surely add something to your Examination copy. Give your best shot.

Best Regards

Ankur Garg

4 Like

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 14 August 2010

Tips to deal with theory paper: Audit and Law

Dear Students and Members,

Please find below some tips to deal with theory paper like Audit and Law. Hope this Article would be off some help in your Exam preparation:

1. First of all figure out the length of your course content and prepare yourself mentally.

2. Use Scanner from the very beginning. It helps you to recognize which chapter is to be given preference.

3. Prepare a list of Chapter wise frequently asked questions from the Scanner and prepare them properly.

4. Above 3 exercise surly help you a lot when you give first reading to your book or during your coaching.

5. Try and develop a sense to figure out excess study material from the exam point of view and cross that material immediately in your book. Study Material provided by the institute is not updated most of the times and full of totally irrelevant material/theory.

6. If you have time prepare notes only for important topics along with frequently asked question’s solution.

7. In Exams don’t write your answer in paragraphs. Try and mention it in point wise details with relevant section and case laws.

8. Use of Sections: As per my opinion you shouldn’t ask anybody about the relevance of quoting sections in Exams. It is off course extremely useful in law subjects especially in CA Exams. Try and quote section in your exams without any hesitation. Prepare a special strategy for remembering sections. If you make it a habit now it will 100% pay at the time of your final preparation.

9. You may also mention Registrar of Companies E-forms while writing your answer in Examinations.

For example if you are answering the question “Transfer of Registered Office of a Company with in city”. You, after mentioning the procedure of transfer, may also mention that Company is required to file form 18 with Registrar of Companies with in 30 days of passing the Resolution in Board Meeting.

10. Very Important Revision Tips: What you prepare on Monday try and recall it on Tuesday without using books. If you are able to recall 60%-70%, then you are 100% going to succeed in this examination. Again try to recall the same after the gap of 2-3 days.

11. Use abbreviation method. If you have 10 points to remember in a question give them a certain abbreviation and remember that abbreviation. See the example below:

In section 293 of Companies Act, 1956 there are 5 clauses from (a) to (e). My abbreviation to remember these 5 clauses is “SRIBC”. S=Sell/R=Remit/I=Invest/B=Borrow/C=Contribute. Have a look at Section-293 and verify yourself.

12. Strategy/technique to prepare Section in Company Law: 1. First read the Section from Bare Act as bare act contain the pure law passed by legislature. 2. Then read the same section from your law book (Munish Bhandari). 3. Now it is the turn of your coaching notes. Read them thoroughly. 4. Now read all the previous exam problems based on that particular section from book.

If you follow the above 4 points carefully and honestly then you may consider your section finished for life. Believe me and try this method.

13. ATLAS STUDY METHOD: This method is completely developed and named by me and is extremely helpful for fetching good marks. ATLAS STANDS FOR “AT LAST”. There are always some questions, formulas, Sections and case laws which we simply fail to recall in exam hall. According to this method if you find anything very difficult to remember then after preparing the same topic once or twice put it in the ATLAS. Keep putting difficult topics in ATLAS till exam date. There would be a different ATLAS for law, audit, accounts etc. Now 1.5 hour before leaving your home for examination hall open ATLAS question list and revise it properly or give it a special reading. Now if you find any question from ATLAS in the exam paper it would be very easy for you to answer as you specially revise it just 2-3 hours back and your confidence level will automatically increase in the beginning of exam. What say???

14. Keep review your ATLAS list and modify it accordingly. If initially you put any question in ATLAS and now you are confident enough about that particular question you can remove that question from ATLAS. Don’t put easy and non important questions in ATLAS as this concept is for revising extra-ordinary important questions just 2-3 hours before examination. If you need any help understanding this method please let me know.

15. Don’t play with the language of law specially Definitions. It is strongly recommended to put the definition in the exact language. However you can take slight liberty while drafting your answer in respect of other law language but the context, texture, interpretation and meaning should not be changed.

16. Query Notebook: Keep a query diary with you during study time and note your queries in this diary and resolve them same day or next day. Do not keep your query unresolved. You may also take reference of this diary later during exam time. Also mention the answer of your query in the query diary.

17. Work out on your presentation skills. You may ask your query regarding presentation skills. Also check my Article on presentation skills.

18. Remember you can use the preparation of Company Law in your Audit paper. Company Audit –II chapter is based on the company law like Audit of share capital, share transfer and dividend Audit. Also use same law writing skills in your Audit paper.

19. Don’t use different notes for one topic. Finalise your notes before starting final Examination preparation and stick with them.

20. 10 Days before examination date do not add any new topic in your schedule. Just focus on revision-revision and revision.

21. In Theory papers length of answer plays an important role due to time factor. Regarding this you may take reference from suggested answers provided by ICAI. Write your answer according to the marks allocated.

22. Always prepare latest case laws as many times practical problems are based on recent case laws.

23. Your Health: Take very good care of your health. Consider your health as a subject. Remember if you fail to perform well in this subject you are going to fail.

24. Plan your answer: Your exam preparation should be such that when you first see the question the entire answer should be in your mind. It will help you to plan the length of your answer according to the availability of time.

25. Time saving method: As per my opinion in theory paper you should attempt flat questions first. After that attempt practical problems. Like in Audit or Law first attempt short notes or distinctions etc. In the beginning if you attempt practical problems first then there may be wastage of time in reading the problem twice or thrice.

26. Complete your paper: Try and make an effort to complete your paper 100%. In other words attempt full paper of 100 marks. You may cut the length of your answer in the end as per the availability of time.

27. Make Point & give heading: In other words write your answer to the point. Try and convert the paragraphs in to points and give them a heading like I am giving in this Article. However if during exam you have no time then avoid this practice. But it’s a very good technique of theory presentation.

28. Presentation Skills: Don’t forget to read my Article on presentation skills along with this Article.