Hi Frnds,
I find costing and mafa difficult .. pl suggest how to prepare and approach for this two subjects and which author is best for both subject and for conceptual clarity and sums..
Rekha (MANAGER - FINANCE & ACCOUNTS) (1445 Points)
19 February 2010Hi Frnds,
I find costing and mafa difficult .. pl suggest how to prepare and approach for this two subjects and which author is best for both subject and for conceptual clarity and sums..
Sunil Gupta
(Service)
(181 Points)
Replied 19 February 2010
I think the study material is enough if you study it thoroughly. the more books and notes you study you become more confused and directionless. as regards conceptual clarity, either do a tuation or take the guidance of a senior who has completed CA. also as both the papers are practical, so practice is the key, do as much practice as you can, this will help you in conceptual clarity. thnks
AFZAL SHERJI
(CA)
(262 Points)
Replied 19 February 2010
I too agree with Sunil but I think u need reference book like S D Bala or Sridhar for MAFA as the study material is not practial oreinted.
Mythreya
(Finance IT & Accounting)
(2183 Points)
Replied 19 February 2010
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Costing: This is a subject where you need to be clear about concepts.
You can follow Padhukas or Vashisht and Saxena for the same.My bet would be on Padhukas as it covers substantively.
Then after you clear your concepts, study from the study material and cover every illustration and problem given there,normally one or two problems is/are 'lifted' from the Study material and given.
Do an ABC(D) analysis:For more information search in Files section for Costing Teacher Parag's ABC analysis file.This is to prioritize your study for the exams into easy buckets of A,B,C and D.
Finally,after you have worked out on the lines mentioned above.Buy the compiler and workout last 15 year exam questions thrice(only first time it might take time,second and third revisions are just a breeze).
With this you have covered Costing for good.Dont bang your head in trying to understand everything(its not practical),try to understand as much as possible and work out problems on what you know.But know how to solve problems given in the study material and compiler.
Finally,if you have time take Colindrury and workout problems with solutions(buy the students manual).This is to be reserved for the last and only if you have time.Last 10 days before the exam,stop adding fresh material to study for costing.Consolidate on what you have studied.Dont cram for the exam,the result would be detrimental as it is more conceptual than just rotememory stuff.
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MAFA(Your profile says "new course" I thought for "new course" the subject was called "Strategic Management"):
Prep is pretty simple and follows similar conceptual understanding route for it.Also keep a memorizer log(just a small notebook) to jot down formulae and keep repeating it again and again,if necessary even by rote method(however,if possible try to know how to derive the formulae a bit).
MAFA Study material is good just for theory but not for problems.Its not great on that!
However,as a safety measure you need to study it at the end along with compiler questions(for last 15 year attempts)
Get your principles and concepts perfect with SD Bala book(Snow-white).The author is great and the book is also great,just that sometimes there is too much of a digression and some chapters are not adequately covered from exam point of view.Still I would not steal the thunder from the book's merit.It is a classic,I would say in understanding Management Accounting from an Indian perspective.
If you have time workout from AN Sridhar's book for problems--do this twice or thrice.Many questions in the exam are bing asked consistently past few attempts from this book.He has also doled out one other book(Rs.600 as of now the cost) which is called "Problems and Solutions in Financial Management"--you can buy either this or the main book and work out all the problems in the book.It will serve you excellently for the exam.
This should do.Dont waste your time on any single chapter,howsoever appealing it might be as the subject is voluminous and if the examiner wants to he can screw you(just that till date MAFA is a relatively easy deal in the exams).
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For both the subjects keep Scanner handy and look at the pattern,type of questions being asked,to prioritize for ABC analysis,etc.This goes without saying for all subjects.
Join my community :https://www.caclubindia.com/community/crack-ca-exams-in-minimum-no-of-attempts-mythreya-s-community-2192.asp
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and also read my articles on the subjects which I will post and have posted till now.
My best wishes for speedy success,
Mythreya
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