Dear CCI members I am here by giving some of the feed back for your CA final I hope this suggestion may be helpful for you a lot .This is not a suggestion for your may exam rather an insight to your future preparations. The recommended books are in addition to ICAI modules. Also refer the practice manuals. This is also important for exam point of views Paper 1: Financial Reporting Reference Book recommended:- 1) MP Vijay Kumar (Snow white publications) Approaches to studies for accounting standards 1) You must have a fair idea about Accounting standards, b) Guidance notes, c) IFRS. 2) Solve the problems based on accounting standards from the above books and also from the scanners and suggested answers. Approaches to studies for accounting part. You must have a good knowledge about a) consolidation of holding and subsidiary companies, b) Corporate restructure , c) valuation d) Value added statement, e) Economic Value Added, e) Market Value Added, Shareholders’ Value Added, f) Human Resource Reporting, g) Inflation Accounting, h) other miscellaneous theories. How to solve the Accounts problems Read the problem carefully; mark the figures in the problems. Understood the conceptual part and solve the problems without referring the solutions. After reading the problems break down the problems in to:- a) What are the information which is available for solving the problems b) What concept you need to apply c) What information is missing and how to find out d) Don’t see the solution as far as possible, e) Solve more problems from the above books along with Scanners and suggested answers for better understanding of the concepts. Paper 2: Strategic Financial Management Reference book recommended V Pattabhi Ram and SD Bala (Snow white publications) AN Sridhar As far as the SFM paper is concerned the concept plays a vital role. You can even expect the suspense and twisting question which is based on the concepts. Here number of problems solved by you is absolutely be wasted unless you had not got the conceptual part. A conceptual error will cause loosing of more mark than any other error. Approaches to studies 1.Understand the concepts first Just an example for the concepts of capital budgeting and its application part in the problems Any projects require a huge investment in the beginning. Because of your investment in the project you can able to generate some revenue with the project .After the useful life of the project you may discard and will get the revenue. So any problems of Capital budget problems may be have the following data. Step no 1 find out the initial out flow ( Your investment is cash outflow) Step no 2 Find out in-between flow (The income part) Step no 3 Find out the terminal cash flow (Discarded income) Step no 4 Find out the NPV 2. Read the problems carefully and mark the figures in the problems after reading the problems break down the problems in to:- a) What are the information which is available for solving the problems b) What concept you need to apply c) What information is missing and how to find out d) Don’t see the solution as far as possible, e) Solve more problems from the above books along with Scanners and suggested answers for better understanding of the concepts Paper 3: Advanced Auditing and Professional Ethics Reference book recommended 1) Padhuka 2) Surabhi Bansal 3) V K AGARWAL You must have a good knowledge about Accounting standards and SA first and audit segment Make a good notes which containing the key points and frequent revisions. Approaches to studies Read carefully and understand the concepts highlight the major points and make good notes because it will only help you during your revision stage and the day before your exam. You must have a good knowledge about professional ethics chapter. All the questions may be practical in nature and may cover more than one area. So you require to do the following approaches. Use interlinked concepts. In exam question may encompass more than one area. For an example if questions from going concern are set in audit how can you write it. In AS one there is a going concern assumption validity. In SA also Going concern approach is there. In CARO Report also going concern approach is hitting. Give your good conclusion which is hitting in all these area. Paper 4: Corporate and Allied Laws Reference book recommended 1) Munish bhandahri 2) G K Kapoor Good understanding of the logic of the law is one of the important requirements as far as Law is concerned. This means never ever mug up with the proviso of the company Law. All the questions may be practical and will be affecting more than one area . Understand all the provision with extra care of all the case laws. Make special notes. Use Mnemonic technique (Abbreviation Technique). Take more time with the sections, understand the logic of the section, Go through the case law which is favoring and against of this sections. Uses inter linked technique for exam. There are some questions which may hit many of the sections at a time. If you don’t know a particular section number, better to leave the same. Quoting of wrong section number may cause vanishing of full mark. Give additional weigtages with other laws sections you can omit SEBI you can get the option there Paper 5: Advanced Management Accounting Reference book recommended 1) Padhuka Approaches to studies Understand the concepts first 1.Try to solve the Solutions part from Padhuka without referring the solution and after that try to solve the similar problems 2. Read the problems carefully and mark the figures in the problems after reading the problems break down the problems in to:- a) What are the information which is available for solving the problems b) What concept you need to apply c) What information is missing and how to find out d) Don’t see the solution as far as possible, e) Solve more problems from the above books along with Scanners and suggested answers for better understanding of the concepts f) Give more weigtages to OR part also Paper 6: Information Systems Control and Audit Reference book recommended 1) R Chandrasekhar (Snow white publications) 2) Padhuka Read carefully and understand the concepts and make a good revision else the concepts may be lost. Make good notes because it will only help you during your revision stage and the day before your exam. This subject is purely technical nature and you need to pay more attention towards these papers. This is one of the scoring papers of CA final examination. Make good notes which contains all the relevant points Paper 7: Direct Tax Laws Reference book recommended 1) TN Manoharan 2) Girish Ahuja 3) Padhuka This is one of the important papers as far as CA final is concerned. The exam questions will test the practical knowledge of the students. So good and expert knowledge about the tax law is required. Exam questions shall be purely practical in nature read the questions carefully and understand which of provision of the income Tax Act deals it with. Solve Gift tax Act and all the problems from Gift Tax and other problems in Income tax Update the recent amendment applicable for your forthcoming examination
Paper 8: Indirect Tax Laws Reference book recommended 1) K vaidheeswaran 2) Bangar This is one of the core paper as far as CA final is concerned. You must have a good and expert knowledge about the Central excise Rules, Valuation Rules, Cenvat credit, Customs Act , Service tax Act This subject contains so many case laws and one case law may be contradicted with other case law in some cases. So understand all the case law of above book, understand the logic of the case law and make a good note. Need to write your answer of case law in to the following 1) Fact of the Cases 2) Decision which was taken by Supreme court 3) Your conclusion to the answer. Be expert with Cenvat credit rules , Central excise Rules, Service tax etc you can score exemption from this single paper alone Wish you all the best ca Vivek m
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