Not all the sections of Company act 2013 are applicable for CA IPCC law paper. For students registered in new scheme, sections from 1 to 148 are applicable where for the students registered in old scheme, sections from 1 to 122 (sections of dividend, accounts and audit are excluded in old scheme syllabus)( note that may 2020 is the last attempt for old scheme students) are only applicable.
Company law is very vast and contains lots of provisions which sometimes become difficult to cover for exams. Being a theory subject, if a student completes the applicable companies act then slowly slowly he/she starts to forget the provisions, time limit and monitory limits.
Talking about my experience, it took me 2 attempts to clear CA IPCC group 1 just because of law paper where I got only 37 marks in my first attempt but with a proper planning and studying I scored 59 marks in law in my second attempt and managed to pass the group. I was very much scared with theory paper because I tend to forget the provisions very easily and this affected my practical paper too. So following are some of the dos and don’ts for smartly studying law paper:
- Focus on the important topics and sections - start your preparation with the important chapters from where frequent questions are asked in exams like management and administration, share capital and debentures, audit and accounts
- Revision – keep 2 days reserved for revision in a week because learning is of no use if you are forgetting the provision you have studied earlier.
- Learning technique – I use to make pattern which help me in visualizing the provisions contained in a section. E.g. some of the condition to issue DVRs is to pass SR, authority in article and DVRs should be less than or equal to 10% of total post issued capital including DVRs already issue. For this I made a pattern of (O A 26).
It is okay if you forget the section numbers or monitory limits during your weekly revision but is you consistently keep on revising the sections then you’ll start visualizing the monitory limits, time limits and even the section number in your mind.
I believe that only knowledge is not enough to crack the Chartered Accountancy exam, expression of knowledge is equally important. The examiner will award the marks on the basis of how well you are able to present the answers. I personally feel that writing mock test papers is the best way to improve your presentation skills. But which test series to choose? I strongly recommend Prepca test series to each and every CA aspirant because their ADAR report and counselling session are just perfect. Counselling session helped me to solve my personal doubts. The are pretty sure about the success of the student that unfortunately if you are not able to clear the exam, they will refund the 100% money back.
All the best!
Feedback appreciated!