Page 1 of 6
SUMMERY OF EXAMINERS’’ & HEAD EXAMINERS’’ COMMENTS
DECEMBER 2008 EXAMINATION – Syllllabus 2008
INTERMEDIATE : GROUP - I
Paper : IP-5 : Financial Accounting :
Question wise Comments :
1. Performance was satisfactory. However, for improvement detailed study of Institute’s Study Notes is a must.
2. Questions was attempted by most of the examinees. It is suggested for improved answer inter-related accounting &
ratios should be carefully studied to prepare the Balance sheet.
3. Most of the students could not answer part(a) of the question due to lack of proper knowledge of the subject.
Students must read some good text book followed by Institute’s Study Notes and solving practical problems.
4. (a) Most of the candidates could find at purchase consideration and correct amount of goodwill. Students must
avoid casual treatment in solving such problem. Student should be advised to take the help of some good text book
and make in-depth study before going for examination.
5. Answer to this question both (a) & (b) was average. Student should make regular practice in solving such question
5 (a) with help of good text book and Study Notes of the Institute. Further, they should be fully conversant with
the Banking Company’s Account.
6. This was attempted by most of the candidates and performance was quite satisfactory. However, for improvement
of the standard of answer regular practice is needed.
7. Answer was average. For better performance companies account must be practiced with sound knowledge of
Companies Act.
8. Though this question was attempted by most of the candidates, answer in many cases was below standard. Student
must read the Study Notes properly to improve the standard of answer.
General recommendation :
This is a New Syllabus which has covered all important chapters on Financial Accounting. Therefore, students must make
in-depth study of Institute’s Study Notes and good text books. Further, they must keep sound knowledge of ‘Accounting
Standard’. Students should note that in order to clear such professional examination, basic knowledge of Financial
Accounting compled with regular practice is a must.
Paper : IP-6 : Commercial And Industrial Laws And Auditing :
Question wise Comments :
Q.NO. COMMENTS
1. a,e,g More or Less Satisfactory but Logical approach was lacking.
1. b,c Not up to mark & as per expectation, although the questions were common – Logical approach was
lacking.
1. f Poor – wrong answers by many.
2. a,e,f Satisfactory but Logical approach was lacking.
2. b Unsatisfactory – Presentation was also not up to mark.
2. c,d,g,h Poor – wrong answers by many.
2. i This question was avoided by majority, answer was also wrong.
3. a,c,d Attempted by few – wrong answer.
3. b Unsatisfactory – common sense answer by many – limited number of examinees attempted.
3. e Majority attempted first part of the question, second omitted.
4. (i) to (v) Satisfactory – majority attempted.
4. b Average, lacking proper presentation.
5. a,b,c,g Average – incomplete answers.
5. d,e,f Unsatisfactory.
6. a Satisfactory.
6. b,d Average – limited number of examinees attempted.
6. c Average.
6. e Unsatisfactory.
7. a,c,d More or Less satisfactory but Logical approach was lacking.
Page 2 of 6
7. b,e,f Not satisfactory.
8. (a) to (e) Not satisfactory – wrong answers by many.
8. f Very few attempted. Poor performance.
8. g More or less satisfactory.
General recommendation :
It is suggested : -
i) To keep in touch with periodical amendments, to study the Institute’s Study Notes and books of latest edition.
ii) Thorough and in depth study is necessary specially for compulsory question no. 1 & 5.
iii) Careful reading and understanding the meaning and basic requirement of question.
iv) To avoid repetition of same points,
v) To provide margin on both sides of the answer book, with adequate space in between two answers, to present
in a legible manner.
vi) Not to write vague answers.
vii) To improve handwriting.
viii) To improve communication skill etc.
Paper : IP-7 : Applied Direct Taxation :
Qn.
No.
General Comments Guidelines for improvement of performance
1 Very poor performance by the students. These
being objective questions needs accurate
knowledge but most of the students have make
guess work.
Students should read carefully and keep these things in mind
otherwise it will be impossible to answer these type of
questions.
2 Performance of the students is quite unsatisfactory .
Students should know exact provisions of the Act.
Students should know exact provisions of the Income Tax Act
and accordingly answer these questions very briefly referring
the concerned sections.
3 The performance is very poor. Students have no
knowledge regarding the concerned sections and
answered them.
Students should know what has actually been required and then
answered this type of questions.
4 Very poor performance Students are lacking in knowledge of several matters e.g. Carry
forward and set off and also taxability of several item under the
head salary. This indicates lack of practice.
5 Miserable performance excepting one item. This question consists of several items. Students should have
adequate knowledge e.g. Wealth Tax Act.
6 Very poor performance. It seems that students have
failed to understand meaning of the question e.g.
(a), (c), (d) (e). Answers of this parts have no
relevance with the question.
Students should read the question very carefully and realize
what has been asked for.
7 Answer given here average. This question consists
of two problems e.g. Computation of Wealth Tax
and clubbing of income. Very few students have
solved these problems fully correct.
Students should practicing problems regularly and constantly to
ensure perfection. They should need the provisions carefully
and practice problems.
INTERMEDIATE : GROUP - II
Paper : IP-8 : Cost & Management Accounting :
No specific comments. However the students are required to study hard from Study Material and the recommended
reference books and try to build up their basic concepts & fundamentals of the subject. The students should lay equal stress
on theory & practical problems.
Page 3 of 6
Paper : IP-9 : Operation Management And Information Systems :
Question wise Comments :
1. Very poor presentation. Instead of writing whole sentence, should put one ward or number legibly.
2. Proper presentation is required to get full marks.
3. Questions were not understood properly. Presentation skill to be improved.
4. Questions were not understood properly. Write legibly.
5. Very poor presentation. One single word is sufficient to answers.
6. 7 & 8. Language and experience is not up to the mark. Improve language, presentation skill and quality of hand
writing.
Paper : IP-10 : Applied Indirect Taxation :
Question wise Comments :
1. The part (a) and Part (b) of this question were answered reasonably good by most of the examinees. The overall
performance was good.
2. (a) Most of the candidates failed to answer to this question correctly. (b) Numerical problem was generally well
answered barring a few. The overall performance was good.
3. Being the theory questions, a number of candidates were able to write few points correctly. Most of the candidates
failed to answer properly. Their answers were irrelevant or incomplete notably appeals Under Service Tax [b (ii)].
The overall performance was of average level.
4. Most of the student failed to answer to these question properly barring a few. In most cases, they were unable to
state provisions of the Act (ST). The overall performance was of average level.
5. (a) Being theory question, most of the candidates were able to write few points correctly. Some of them
performed well. The overall performance was of above average level. (b) Except few cases, answers were not
appropriately organized. Most of the answers lacked the conceptual knowledge of the subject matter – like ,
Taxable turnover CST Act. The overall performance was not up to the mark.
6. Only few candidates attempted these questions. Most of them failed to answer correctly and appropriately. Their
answers lacked the conceptual knowledge of the subject matter – Special Audit U/S 14AA of CEA. The overall
performance was not up to the mark.
7. (a) Most of the candidates could do few steps right, few got the answer correct. Many candidates were able to
answer to the question correctly. Most of them performed well. (b) Being theory question, most of candidates were
able to write few points correctly. Some of them performed well. The overall performance was of average level.
8. (a) Most of the examinees have solved the problem correctly. The performance was found to be satisfactory of
most of the examinees. (b) & (c) except few cases, answers were not appropriately organized. Most of the answers
lacked the Conceptual Knowledge of the subject matter. The overall performance was average.
Suggestions :
i) The examinees/students are advised to read and understand the questions thoroughly and carefully before writing the
answers.
ii) The examinees should consult/read standard Reference Books (latest edition)/Study Notes thoroughly and analytically.
iii) Read the theoretical portion before attempting the problems. Only theoretical knowledge will help you to develop the
conceptual and Computational Skills.
iv) Adequate practice of practical/theoretical model problems is essential to acquire commend over the fundamentals of the
subject matter.
v) Proper understanding and interpretation of Act and Rules is a must.
vi) Due attention must be given towards orderly presentation of solutions of practical problems in suitable format in order
to secure good marks.
vii) Comprehensive preparation and acquiring in depth knowledge of the subject matters is extremely required.
viii) Avoid beat about the bush writing and irrelevant details in the answers to the questions.
Page 4 of 6
FINAL : GROUP - III
Paper : FP-11 : Capital Market Analysis & Corporate Laws :
Question wise Comments :
1. On an average maximum students have given a good attempt.
2. The theoretical portion is done satisfactorily. Maximum no. of students have attempted however, a few have
understood it correctly and done rightly.
3. A very few have attempted but without any successful attempt.
4. Answers of short notes are not up to the mark.
5. Done exceptionally well by the students.
6. Specific sections of the Act not mentioned/wrongly mentioned.
7. A number of students have attempted and answered excellently.
8. A very few students have attempted.
General Observations & Suggestions :
a) Examinees would perform better if they noted and clearly grasped what is asked for in the questions and if they
covered the salient points in their answers.
b) Examinees need to revise the subject and important aspects including solving practical problems before the
examination.
c) Practice of solving questions including problems from study material and papers as well as books could have
helped improve performance.
d) Time distribution requires proper attention to answer the paper completely.
e) Answers written should have relevance to the marks allotted.
f) Read the question carefully and understand what is required and there answer accordingly.
g) This is one of the papers where students can really score.
Paper : FP-12 : Financial Management & International Finance :
General Observations :
The overall performance of the students is less than satisfactory due to inadequate conceptual understanding and confusion,
regarding some parts of some questions.
Students are advised to go through at least, one standard text book instead of depending only on the Study Material, which
is inadequate in terms of content and conceptual clarity in many places. There is gross mistake of topic titles and contents in
many places.
Paper : FP-13 : Management Accounting – Strategic Management :
Qn.
No.
General Comments Guidelines for improvement of performance
1. a,
b, c
Almost all the examinees have performed
well. In fact this has boosted their marks.
For those who could not do well, it is suggested that they should go
through the Study Material and the recommended Reference Books
thoroughly and try to build up their basic concepts and fundamentals of
the subject.
2. a The question is very specific on SWOT
analysis. The examinees were asked to state
only the purpose and the major outcomes of
SWOT analysis.
Majority of examinees had defined what SWOT analysis is and had
described with examples SWOT analysis but have not given a pointed
answer to the question posed. Students are advised to read more
thoroughly and diligently and prepare themselves to answer to the
specific question posed instead of giving a vague and a general answer.
2. b Many examinees had attempted this question
and their overall performance was very
satisfactory.
This was a very topical question. Both GOI and the Business Houses in
India are actively searching for a solution to bridge the deficit in the
infrastructure thru’ Public-Private Partnership. Examinees are expected to
study this chapter in-depth.
3.a,b Many examinees had attempted this question
and their overall performance was very
satisfactory.
Cost Accountants are expected to be ‘Strategic Cost Management
Accountants’. Hence, they should re-orient themselves.
4.a The question involved Suppliers, Buyers, Students are expected to study these aspects thoroughly from text books
Page 5 of 6
Inflation and the economy. and the Study Material.
4. b This was a very simple question and almost
all had answered it well.
Further improvement is possible thru’ serious study and preparation.
5 & 9 Most common topics were asked and the
overall performance was satisfactory.
The answer should be informative and full of substance. The language
used should be good in good English. Unfortunately this is not the case.
English in general is not good and hand-writing of some is illegible. Both
these aspects are to be improved upon.
7 & 8 The general performance was good. Further improvement is called for.
Paper : FP-14 : Indirect & Direct - Tax Management :
Performance of the candidates is just average. Being final examination, the candidates are required to have an in-depth
knowledge of the various Acts under the Indirect and Direct Tax Management. Many answer scriptts reveals lack of serious
approach to the subject, and in many cases answer are not focused to the question asked. Very few examinees have quoted
relevant case laws. For improved performance, the candidates should regularly study seriously and should be familiar with
the various Acts relating to Indirect and Direct Tax Management and also study important case laws.
FINAL : GROUP - IV
Paper : FP-15 : Management Accounting – Enterprise Performance Management :
Question wise Comments :
1. Compulsory question was not correctly answered by a large percentage of the candidates, which indicated that
many lacked the basic understanding of the terms.
2. Overall performance was satisfactory.
3. (a) & (b) Answers were of fair standard. (c) It appeared many did not have knowledge of aggregate planning.
4. (a) Generally well answered for the first part but many failed to work out labour cost for the repeat order. (b)
Generally well answered.
5. (a) Theoretical answer was satisfactory in most cases. (b) the answers were mainly incorrect, as the candidates
failed to work out the present values correctly.
6. Majority of the candidates attempting the questions failed to work out the Coefficient of Variance correctly and
failed to draw correct conclusion.
7. (a) Theory answers were satisfactory. (b) Most of the answers were incorrect clearly showing lack of knowledge
of the subject.
8. Majority of the answers were of average quality and did not cover the major points in a brief manner.
Suggestions :
• More attention must be given towards orderly presentation of solutions to practical problems in suitable formats
supported by sufficient working notes. This would need more extensive practice in solving such questions.
• More extensive study of the suggested reference books will help the students to tackle theoretical questions in
better manner.
• Candidates should improve their skill of English language.
• In theory questions majority of the candidates answered in a generalized manner. By answering briefly and by
covering the topic specifically they can earn more marks and save time as well.
• Candidates should appreciate that this for level of Examination an expert knowledge of the subject is expected
from them. Accordingly, they must prepare for the Examination by extensive study and practice and not adopt
short cut methods.
Paper : FP-16 : Advanced Financial Accounting & Reporting :
Suggestions :
Lack of practice in solving problems is noticeable from the answer scriptts. The Institute’s Study Notes and the prescribed
other Study Material (Text Books & Magazines) must be gone through seriously to secure good marks in the examination.
Page 6 of 6
Paper : FP-17 : Cost Audit & Operational Audit :
Question wise Comments :
1 & 5 : Study the study notes of all chapters covering both the sections.
2, 3 & 4 : Practice Problems at home covering all the chapters from good text books/Study Notes/Past Questions of
Last 5 years.
Other Questions : Try to get the concept clear and before answering, try to understand what answer is expected.
Overall Performance :
Good. Most of the candidates secured good mark except Qn.3(a) for few candidates who answered the problem partly
correct otherwise Qn.2(a) & 4(a) problem is good.
Paper : FP-18 : Business Valuation Management :
Qn.
No.
General Comments Guidelines for improvement of performance
1. a Almost all the examinees have performed well. In
fact this has boosted their marks.
For those who could not do well, it is suggested that they
should go through the Study Material and the Recommended
Reference Books thoroughly and try to build up their basic
concepts and fundamentals of the subject.
2 Majority of the examinees had attempted this
question and their performance was very
satisfactory.
Some had calculated the brand value, without considering the
impact of the ‘unbranded portion’. Students are advised to read
more thoroughly and diligently and prepare themselves to
answer such questions in the next exam.
3. a Many examinees had attempted this question and
their overall performance was very satisfactory.
Keep practicing on more such simple questions.
3. b Overall performance was below average. This was a question testing the fundamentals. Examinees
should go through the Study Material and the Recommended
Reference Books thoroughly and try to build up their basic
concepts and fundamentals of the subject.
4. Very few had attempted this question and a few
could get it right.
Examinees should note that after acquisition/merger of a co., aq
new company emerges and the shares of this new co., should be
taken into consideration. An in-depth study of this chapter is
called for.
5 Very few had attempted this question. Assumptions made should be stated clearly in the answer.
Proper presentation of such problems is very important.
6. Very few had attempted this question. Brand valuation is very important in today’s business. An indepth
study of this chapter is called for.
7. Most of the examinees had answered this questionwithout
clearly outlining the basic models for
Human Resources Accounting.
Most of the answers are just general view-points of Human
Resources Accounting. In today’s context, a thorough
knowledge of this chapter is very important.
8. Overall performance in this question is satisfactory. Examinees should equally lay stress on theoretical question side
by side with practical questions.
Disclaimer : The summary of comments of the Head Examiner/Examiners’ have been given as guidance to
assist the students in preparing themselves for the Institutes examinations. The opinion has been given by the
Head Examiners’/Examiners’ and should not be taken to reflect the views of The Institute of Cost And Works
Accountants of India, Kolkata.
CAclubindia
