practice manual is important for all subjects. it gives you understanding about how icai expects us to write answers in exam or present practical problems. ques. from practice manual are also imp. so dont ignore it.
Once you have covered the Institute's study material, the practice manual aids you in understanding the standard approach to write an answer in the examination. It's a launchpad to carryout your revision and gain confidence to the extent of portions covered. A Practice Manual must be construed as a material which equips you to carry out revision.