practical guidelines on the basis of my and my friends' experience
1, dont start any big question of 15-20 marks in the begining. or another way is start it but make target to complete it in maximum 30 minutes. if you are not able to complete it in 30 minutes, leave required pages for it and start next one. do this sum when last hour starts.
2. while studying at home solve a long question without help of the solution and note the time you took. and remember that in exam you will take more time than the time you noted. so prepare accordingly.
3. when last hour starts, see remaining questions. then decide which questions to attempt and which to leave in case you have less time. if you cant attempt any question properly dont start it, bcoz it can waste your time.
4. dont ever feel that you have enough time. specially in theory papers. always keep writing like you are on fire. for 5 marks questions of theory papers like auditing and Law, one page is more than enough. so try to write correct and most relevent detail in one page only. in communication and Ethics you can go beyond one page according to availability of time. for example if you have 15 minutes and 3 questions left. give 5 minutes to each question rather than attempting only 2. bcoz if you attempt 3 you can get 10 out of 15. but if you attempt only 2 you will get hardly 8 out of 10.
5.one interesting method: set your watch's time 30 minutes ahead than actual time. and make target to complete paper according to your watch only. and see your own watch only. and when according to your watch time will be over you will get bonus 30 minutes. in other words target to complete paper in 2:30 hours.
6, In last, Most important thing to attempt full paper first of all you have to prepare full syllabus. :-) :-)
you must also having your experiencece if you have given exam. share additional points.