TAX :-

• IN PCC Service Tax & Vat  covers 25 marks. So obviously a must to focus. People think , they should focus on Tax which contain 75 marks. But they forget to count that these 25 marks contains not more than 60 pages.(Ye mere register ke notes ki counting h ....)
• So my request will be first to grab these 25 marks and then go for anything else.
• I made 20 pages notes in VAT and  it contained every type of question in exam . So just think is it stupidity …ki 10 marks free me mil rahe hai ?  
• Our 1 question which is always compulsory ….Obviously do it at last or in between. Because making this question crucial is examiner’s religion. Remember this fact everytime.
• PGBP , a must chapter. Even if u don’t know the deduction rules, use ur mind. Just think what you should add in profit and should not include in profit. Once you understood the chapter by this logic, it will be easy to grasp the ruling of deductions.
• Salary and HP and Capital Gain…..A must . But still even if u get urself perfect in any 2 … then u can reduce some risk.
• Next Residential ….The most overviewed chapter which grasp 5 marks for almost every second  year.
• Theory part in return chapter ( Spl Belated rules) . The most Imp chapter for almost 5-8 marks every year.
• TDS learn it in table style. You can download the TDS file from my files  section, Make sure u amend it properly.
• Service tax + VAT + Return+ PGBP+ TDS + Residential =  50 marks almost .

Audit :-

• Audit is such kinda subject whose question got repeated every year. And every year question paper look almost so much same.
• Preparation for Audit
  • Audit programme
  • Audit risk
  • Management representation.
  • Audit file.

Well, I won’t mind even if u cram this chapter, because it’s the most important chapter .So make sure you learn this chapter SA as well.

• Internal control
  • Black box / white box
  • Can statutory auditor rely upon Internal auditor’s work
  • CAAT
  • Internal control  (adv/disadv )
• Verification of assets …..Hmmm ….the most easiest but boring (when u can’t plan)
  • Use of table in learning this chapter
  • Basic points are almost same.
  • Verification of liabilities don’t come as compare to assets.
• Power & Duties of  Auditor, Audit report & Various reports >
  • Literally, I loved this chapter .
  • Learn this chapters AS for sure.
  •  Question based on Special audit,Joint, Cost audit comes  once in a blue moon.
  • So you can leave them in case you can’t learn them.
• Miscellaneous Audit …..  I don’t like this chapter. But kya kare ….exam fever chad jaye to sab karna padta h. So don’t even dare to leave this chapter.
  • Audit of Hotel
  • Audit of educational institute
  • Audit of hospital.
  • Audit of Incomplete records
  • Other audits also need to be learn , but make sure you have a bird view over them at least and the above must be learn by heart.
• AS n SA go together. In case , You don’t remember SA , then u can use AS no in that question. So

It’sagood idea to impress the examiner.

• Heart speaks the truth…so in any case you think this question is not so important ..but should come in exam. Then without even giving a second thought, do that  question.

FM :-

• If u have rajesh makkar’s book, then I will advise you don’t even see theory from that book.
• Even though practical question are really presented in good format. Alright let’s move on :-
• CASH flow a must .you must remember how to make working capital schedule. I forgot the same during exam . And the teacher had given both fund flow n Cash Flow question.  
• Even though Fund flow comes once in a blue moon, but still I will advise you to have a look over the same.As it’s easy to do.
• Leverage ….Most important chapter.  5 marks free ke …Y to risk ?  Do practicals as well as theory from the same chapter.
• Capital budgeting …. Can’t dare to leave this chapter. Because if u have left this chapter , then u will obviously fear in mind “ Boss ab paper me karne ke liye bacha kya h ….even though u can attempt remaining questions …..but mind isi q pe divert ho  jayega. So  Better to do this chapter.
• Learn from book , from teacher , from elders …go to any1 …but Practice this chapter like a parrot.
• Working Capital determination :- Practical question must .
• Cost of capital  = Theory + practicals.
• Well, I will advise  you to do FM compiler for theory. Rather then searching question from Book.

Finally, the rest is just your choice. I am not saying don’t do other chapters. I am just saying make more focus on the above topics. Hopefully it will help .Best of luck

regards

renu