How to deal with isca... (ca final)

@ Vandana.. thanks a lot.. and Wish you all the best... 

@ Vandana.. thanks a lot.. and Wish you all the best... 

Thanks Sagar...!!! its useful!!!!!!!!!!!!!!!

I observed this attempt's result and came to know that many students couldn't pass in 2 subjects viz. "Strategic Financial Management" and "ISCA"

I have already discussed on ISCA in detail and now it is time for us to evaluate what went wrong in SFM, since I was also one of the victims in the said subject.

I would like to invite all CAs / CA Final Students to give their valuable views in this regard because this time is was "Mass-failure" in SFM.

When I went thorugh "suggested answers" posted by ICAI, I came to know the blunders i made in the answer paper. Major mistake from my side was - "Irrelevant working notes which took me off the main part of answer and resulted into waste of time".

I found following shortcomings in my answers - 

1) SFM is similar to maths paper. Formulae and Final Answers have to be accurate. I can't comment whether ICAI has awarded marks for steps; however it can be confirmed if you've applied for Certified Copies.

2) Only knowing the concept and formula is not enough. You need to apply it in different scenarios. If your answer is not backed up by working notes, then it will not fetch any marks. More importantly, working notes should be relevant. (I wasted a lot of time in Reconstruction Problem because of lengthy working notes)

3) Concept error will cost you a fortune. This is confirmed again this time. Last time I had same experience in PE II accounts paper. The moment you make concept error, you're almost gone.  whether you make an error knowlingly / unknowlingly; but it does cost you a lot.

4) More practice is needed for -  Derivatives, Forex and Misc practical topics where you get small formula based or concept based questions.

5) Theory answers should be technical. Plain english won't fetch much marks. You answer should sound like a Finance Manager.

ICAI has definitely maintained and raised its standards from time to time. Instead of questioning those standards, I would suggest you all to raise to those standards.

@ Krishna

I read and understand entire theory alongwith formulae and then proceed for problems. Try to understand the logic behind each formula. Do extensive problem solving practice. Refer ICAI module and other material of ICAI supported with one of the recommended books.

Even I'm waiting for some useful tips.. 

how to deal ISCA???????????

ONE LINE ANSWER...........................SWAPNIL  PATNI JINDABAD

@ Ramesh -

Even Swapnil sir will agree with most of the views. However he also gives you Memory Techniques. It is not his fault to come up with memory techniques and he's definitely a good teacher of the subject. It is demand from student to get good marks in short time, which resulted into memory techinique method of studying.

I'm not asking you to stop studying that way. I will just give my views on the topic. It is your choice after all.

swapnil sir logic & concept bhi batate hai

what about students who are not studying in pune...? or students who're doing self study..?

swapnil patni is the god...........he is everywhere.....

nowadays he has started batches at various places

I don't have words to comment on this.. he he he.. I didn't need any human-god to score... TO SCORE... in PE II and CA Final... 

You're free to do what you want...  :) Wish you all the best...

I observed this attempt's result and came to know that many students couldn't pass in 2 subjects viz. "Strategic Financial Management" and "ISCA"

I have already discussed on ISCA in detail and now it is time for us to evaluate what went wrong in SFM, since I was also one of the victims in the said subject.

I would like to invite all CAs / CA Final Students to give their valuable views in this regard because this time is was "Mass-failure" in SFM.

kindly post your views about SFM studies.

@ sagar Can u pls tell me the amendments in ISCA subject...I have JAN 11 study material......so that I can download the revised chapter(s) from ICAI site........one more thing I want to ask which book should I go for financial reporting other than praveen sharma....as I feel this book is one of the highly overrated book for ca final..........

@ Abhinav -  All modules are revised little bit in December'2011 / January'2012

Please go though ICAI's BOS knowledge portal and download the soft copies.

You will have to scan fast to check what additions are there. Simple way is to see index and check the "Total number of pages" for each chapter. Where you find increase in number of pages, then refer that portion of the module.

Financial reporting - Practice from ICAI Module and other material... plus Snowwhite Publication or any other good reference book.. 

Financial reporting is the very heart of CA course.. Practical knowledge is must.. You see November'2011 exam paper, you will understand the difficulty level..  If you have time, then solve as many problems as you can from various books u get at library.. 

Accounting Standards are very very important. specially 30,31 and 32. Do not keep them for option.