hello everyone ....
goodafternoon.....
Accounts is totally practical exam. But still contain theory and theory questions repeat everytime. So I really req to all of u to plz complete the compiler and read the paper's theory till year2000.
First we have to focus on those areas which fetch more marks :-
In accounts there are 10 main chapters
- Accounting Standard
- Cash Flow statement ...focus on both methods. Bcz normally ICAI asks specific method ans which create problems
- Amalgamation and reconstruction :- it's good to learn this in accounts format. rather than Journal entries. It's my experience.
- NPO
- Incomplete records
- Insurance claim :- In this mostly loss of profit policy is asked for 4 marks q
- partnership :- Including the sale and conversion
- Redemption of debentures
- Banking company ......easy n complicated chapter which fetch 8 marks
- Branch.
Law :- I had referred paduka. You can follow whatever book , u learn from. There are 16 chapters
- Your main focus should be on ethics n communication
- And in communication main focus on deeds and notice
- M.law even though cover 10marks but still have a large syllabus.
- chapters list :-
- Contract Of Indemnity/guarantee
- Bailment & Pledge
- Agency
- consideration ..............do the above in same order during revision. These no are allocated on basis of their importance
- Negotiable :- min 8 marks
- bonus :- min 5 marks
- gratuity :-min 5 marks
- EPF & Insurance scheme
- Memorandum of association
- meetings (all)
- Prospectus and share transfer
- Corporate governance and CSR
- Ethics in marketing and consumer protection
- Business ethics ( def asked in deep way )
- Essential of communication
- Interpersonal communication skills
- Deeds and meeting
- Power of attorney
- Indemnity Bond
- partnership dissolution deed
- Minutes
- Board's meeting notice
- AGM meeting notice
Costing :- I had referred P.C.Tulsian which had last years papers . so was an advantage to me
- Contract costing ;- Main focus on 2 years. But still depends on examiner's wish also ....so a simple question can also come
- Process :- q is mainly based FIFO method mostly but yes average is not tough if u understood FIFO method.
- Standard Costing & Marginal costing & Budgeting
- examiner used to mix any 2 chapters from the above 3
- Overheads .........I hate this chapter. But yes question comes in examination almost everytime ....4 no ka hi kyu na de.. examiner love this chapter.
Make sure ..............
- For preparing practical subjects make a separate register always which contain only formulas not ur practice.
- You still have time for may exams. So Practice these chapters atleast.
- And note down every mistake,even ur silly mistake in your formula book , even though u made the same while making a bird's eye view. Trust me this works a lot.
- But make sure that whenever u wrote ur mistakes, give supporting example also. So you don't have to open ur book to understand ur mistake.
- Mark 1 big question which contain everything of ur chapter. Read only that question on exam day. It saves time a lot.
- Finally don't try to ruin my efforts by just over viewing my message.Follow it. Rest is, still ur call .....
Regards
Renu
CAclubindia
