Dear PCC and IPCC students,
I am hereby giving you some feed back for your better result for your November exam. I hope this guidance will be useful for you in many respect.
Try to work hard and smart for the 2 and half month.
The reference books given here are in addition to the ICAI modules.
Better try to write point wise rather than essay time
Accounts paper
Reference Book recommended:-
1) MP Vijay Kumar
2) Padhuka
3) Tusian
Approach to studies
For scoring more than 60 Plus mark, you must have a sound knowledge of entry formation part.
Read the problem carefully, mark the figures. Try to understand the information which is available for solving the problems and understand the concepts. If possible try to document it in a note book. It will make you easy during the revision stages.
Solve the exercise thereafter only.
Refer scanners and suggested answers.
Advance accounts
Reference book recommended:-
1) MP Vijay Kumar
2) Rawat
Approach to studies
Go through the concept part of accounting standard first. Go it to the detailed level and make good notes
Try to solve all the previous accounting standards problems.
Business Law and corporate law
Reference book recommended:-
1) Munish bandari
Approach to studies
You can simply leave EPF Act or Contract Act or Negotiable instrument Act since you may be having options. It is just recommended in nature only.
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 favouring 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.
Revise it periodically.
Costing and Financial Management
Reference book recommended:-
1) Padhuka
Approach to studies
Try to solve the Solutions part from Padhuka
Read the question understand the questions. Mark all the figure data. Try to understand what are the information which is available for solving the problems, what are the information which are missing and also understand the Conceptual part. A conceptual error will make more lose of mark than a normal error and failing this paper. Try to solve the similar exercise, without referring the similar kind problems.
Never ever look the solutions. Try to solve the problems own your own. This is for self study candidate.
Never confirmed alone to coaching materials if you had undergone for coaching. But never look the solution.
Do the problems from suggested answers and scanners.
Use time management strategy for the exam. Costing and FM is normally lengthy in nature.
Income Tax papers
Reference Book Recommended
1) T N Manoharan
2) Padhuka
3) Singania
Approach to studies
Be thorough with All the 5 head of Income, Deductions under chapter VI A, VAT, Gross total income problems.
Be update with the amendment which is applicable for your exam.
Give notes to the problems in Gross Total income.
Must have a good conceptual clarity for all the provision of Income tax Act this will help you to write the practical questions with much effectively and efficiently. If you are through in the above area. You can easy to score 60 plus range.
Auditing and Assurance
Reference Book Recommended
1) Padhuka
2) Surabhi Bansal
Approach to studies
Through knowledge of Accounting standard , SA, CARO etc is important ( Good volume of the questions are from this area.
Good knowledge with Company Audit one, Two, special audit etc is warranted.
Just read the basic concepts and internal control
Use interlinked concepts. In exam question may encompass more than one area. For an example if questions from going concern is 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.
Information technology
Reference book
1) Dinesh Madan
Approach to studies
Give equal weightage to both IT and SM.
Understand the concept well and make a documentation. This subject doesnot have any commercial back ground so that there is a vulnerability of being lose so make a good notes
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