Dear Students,
Human being is beautiful created by God. its about the confidence, Systemic & planning which can take you through in any studies. More than that you should have passion to excel. Most of the successful people have "Goal" in their life. Goal is something which everyone tries to acheive in ones' life. Consistent study , not having backlogs and clearing doubts, understanding concepts on every chapter is key. Early october its about priortization of What could be expected without taking chance of leaving any topic.
As we know Accounting , Costing & Tax has vast topics - Its important to have a 60 day plan to cover all topics by September end. Planning for 15 hour study with 80% Utilization of time is smart way to acheive things.
Bangalor Students who need free counselling on Exam Myths, Prepartion technique can write to me at satmai45 @ gmail.com and as a group of 5+ would be happy to spend time on sundays 30 minuts to 1 hour at my residence. Others can write email to me and i will do my best to help you replying to you.
Have fun and enjoy your learning process. Here's a recommendation for Study plan.
August Plan
Accounting : Cover 60% of the topics ( 4 hours a day)
Read relevant Accounting standards for the topic you cover - Understand structure of Accounting standards . Ex : Amalagamation - make sure you read AS along with that. Dont memorize accounting standards, Understand the intent of the standards and applicability, Treatment in books.
Costing : 2 hours a day
Understand Basic concepts - For ex : In Marginal costing - Build a mock model in Excel and play with numbers to undersand what is meant by BEP, Profit, Safety etc. Cover 50% in August.
Standard costing : This is all about Variance . Textbooks and authors would have given different methods. Follow one method which you think comfortable, But understand why we do Variance analysis using Stanadard costing method.The below are lay man examples but first understand the same by talking among friends and use blackboard , whiteboard to demostrate the same. Dont memorize.
Ex : Materials is Planned at Standard rate, Bought at Actual Rate - The variance is due to Rate. It can be favorable or unfavaorable
Material is planned for consumption at Xkg for every process, but during production has been consumed at different proportion. This is a usage variance.
Tax : 2 hours a day
Heads of Income - P&G,Salaries, Houseproperty - In August, Rest in September
Deductions : September
Residential Status, Exemption - August
Clubbing of Income, Set off, Capital Gains,Other sources - September
Rest in October
Auditing - Law : Cover alternate days - 4 hours a day - have a detailed plan to cover all the topics givin priority to topics. Read insitutte material -Use TExtbooks as Reference (August to October 15)
Information technolgoy : Cover weekly 6 hours . But make sure you dont leave backlog
Regards,
Satish
Tejas Learning Centre
HSR layout - bangalore