demo: PREPARATION TIPS

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Tuesday, 1 April 2014

Costing and Fm Important Topics | Download | Tips

Recent stats say that, out of the students who have failed Group-1, 72% have failed in Costing and FM along with some other subject, and 46% students failed only in Costing and FM.

This subject has two shades. It has been a boon for a set of students and for some, it has been a curse.

So we decided to go deep into the matter and have inquired 300+ students, which includes students who have been failing this subject for at least two attempts and students who have got exemptions. We also extracted much needed info from a student from Vijayawada who scored 86 in this subject.

Almost all the students who succeeded in this have noted the same point, PRACTICING WITH PEN AND A BOOK. A close analysis of the preparation style of students who have been failing revealed that, most of them were just going through the questions and not putting them on to the paper. Not just Seeing, PRACTICE, PRACTICE and PRACTICE. By looking at the book, it looks like everything is ok, but once you put the pen on the paper, it wont move after two steps.

Second point is the presentation. Costing is all about presentation. You may bring the solution, but unless you present it in a format, you are not going to score marks. We have obtained the certified copies of a few students which revealed the same.

“Kindly Read it & Share It”

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Important Topics

Costing :

Important Chapters - Practical

_ Material Cost

_ Marginal Costing (BEP, MOS, PV ratio Etc.)

_ Standard Costing (Total Variances)

_ Budgeting Control

_ Process Costing (Most Important)

_ Joint & By Product

_ Labour – Bonus Calculation (Rowan/halsey)

Important Chapters – Theory

_ Basic Concepts in costing- Different types of cost

_ ABC Analysis

_ Treatment of Under/over absorbed Overhead

_ Integrated accounts

_ Methods to apportion joint costs

Financial management :

Important Chapters- Practical

_ Cost of Capital

_ Leverages (DOL,DFL,DCL)

_ Cash Flow Statement

_ Working Capital Changes - Debtor Management & Estimation of Working capital Requirement

_ Ratio Analysis – Calculation of Ratios

Important Chapters – Theory

_ Basic Concepts in FM – Profit Vs Wealth Maximizations (Most Important)

_ Source of Finance – Venture Capital Finance, Debt Securitizations

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IPCC Costing & FM Imp Questions for May 2014

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Go Through the Important Theory Questions in Costing and FM, for CA IPCC May 2014 Exams.

Even though enough care is taken while selecting the questions, students are recommended not to put in too much reliance on these.

Costing:

· Discretionary Costs

· Conversion Cost

· Product Costs Vs Period Costs

· Bin Cards Vs Stores Ledger

· Allocation and Apportionment

· Accounting Treatment for Over-time Premium

· Short Notes on General Ledger Adjustment Account

· Advantages of Cost-Plus Contract

Financial Management (FM):

· External Commercial Borrowings

· Business Risk Vs Financial Risk

· ADR Vs GDR

· Role of CFO

· Types of Floats in the context of Cash Management

· Benefits of Optimum Capital Structure

· Ploughing Back of Profits

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Preparation Tips

1. Pay due attention on theory ..some students

doesnt do that it contains weightage of 20- 28 marks in the paper.

2. If u have problem in doing the whole theory

portion just do past examination question or from

scaner or from practice manual (all r equal )

3. pay equal attention on CA n FM dont go in

exams on the base of any 1 of them

4. If u dont know any answer n dont have any

single idea about its better to leave that

for eg :- if in exams GDR (global depository

reciepts) comes n u write deposits that reciept in whole world it will make a bad impression of u on checker

5. make proper working notes it plays a vital

role in step marking watever calculation u do name them as working note .

6. dont pay unnecesary tym in solving

particular question

7. if u r using any formula in ur solution then first write it n then put numbers or figures in it . this shows ur knowledge about formulaes

8. Always do RTP’s hope this will work out for u.

Part A: Cost Accounting

1.Without a doubt you should do Standard & Marginal Costing in starting. Not even a single theory question asked from this two topics so just concentrate on practical questions. Try to make your own notes or summary of all formula as this chapters based on formula only. Around 16-20 marks covered by this two topics.

2.Now you should do Contract, Process , Equivalent, Budgetary & Operating Costing. This topics again cover 16-20 marks. Theory will come from Budgetary & Operating only. Better to go through Practice Manual also as sometimes not exact but of same pattern question comes in exam.

3.Now you should do small topics like Material, Labour & Overhead . Mainly question comes from Direct Material like EOQ, Re-order level etc. Don’t waste much time on Labour & Overhead as they are lengthy as well as not questions not frequently asked from this topics.

4.Now do this 3 topics from Practice Manual only because question get repeated in this topics: Non Integrated, Integrated Account & Reconciliation of Cost & Financial Accounts.

5.Generally 16 marks theory questions asked in exam.

Part B : Financial Management:

1.You should start with Capital Budgeting and than Cost of Capital this both chapters covers 16-20 marks easily, mainly practical question comes from this chapters so don’t waste time on reading theory. If anyone not interested in doing material which he/she have than just do all question from practice manual of this topic.

2.Now you should do leverage , Ratios & Working Capital Management. This topic are easiest as well scoring topics. This covers again around 20 marks minimum and both practical & theory questions asked from it. Do this topics properly from your books which u have than do question from Practice Manual and mainly theory questions comes from Practice manual only.

3.Than do Cash Flow Statement & Fund Flow Statement, as we studied this topics earlier so do it fast and don’t waste much time both theory and practical questions may be asked. Marks covered around 8 but sometimes 16 marks big question also asked so prepared for it.

4.Now do theory properly as this paper contain good questions of theory & overall theory asked in the question paper is minimum of 30-32 marks out of which 16-20 mark’s theary is from Financial Management. Important topics for theory are Basic Chapter, Ratios (Importance & Limitation), Types of Financing, Management of Debtors etc. (Make sure once you read all theory question in Practice Manual.)

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Downloads

Costing And FM - Hand Book

Costing And FM Theory

Costing Formulae

Fm Formulae

Stategic Preparation Tips

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Monday, 24 March 2014

IPCC Law Important questions | Topics | May 2014

May 2014 CA examinations are coming near day by day, so students have started searching for CA IPCC Important questions for May 2014, IMP Chapters, IMP Tips for IPCC May 2014 exam. But friends, first let me clear that Everything is important in CA examination except nothing… lol but its true. But even after telling this I am definitely agree that certain tips or tricks regarding examination about important chapters, time schedule can really help and make you to crack CA examination easily if you properly do follow the tips with smart work. So here I am presenting useful tips regarding IMP chapters. Most important chapters, topics & tips for CA Intermediate/IPCC May 2014 exam.

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Important Topics

Incorporation

_ Workplace Ethics

_ Communication channels and Ethics

_ Memorandum & Article of association (Most Important)

_ Prospectus

_ Payment of Bonus act –Limit (Most Important)

_ Payment of Gratuity act –Eligibility (Most Important)

_ Employees provident fund act (Most Important)

_ Contract Act (Most Important)

_ Corporate governance

_ Ethics in Accounting and Finance

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Strategic Preparation

“Law”

Suggested Post : Recommended Books for Law - By ICAI

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Preparation Tips

1. In practical problems never start your answer with Yes or No unless you are 100% sure. First mention the relevant provision and show in your answer how you reach the conclusion. In the end conclude your answer in the following manner: “On the basis of above discussion we can conclude that as per the Section-166 Annual General Meeting can not be convened on a public holiday.” (Consider this as an example).

On the contrary if you are 100% sure from the very beginning always start your answer with Yes or No. Like in the above problem it is very much sure that AGM can not be held on a public holiday.

2. Try and always mention the relevant section. Make it a habit. Do not ask anybody regarding the importance of remembering a section. If you make it a habit now it will 100% pay at the time of your final preparation.

3. In distinctive question never segregate 2 provisions with the help of a line.

For example: Distinguish between Fixed and Floating Charge
Mention the distinction in the following way:
(i) Fixed charge is created in the specific property on the other hand floating charge is created on the class of property.
(ii) Fixed charge clutch the property whereas floating charge floats over the property.

Conclusion: You should use “on the other hand” OR “whereas” to club two different provisions.

4. You may underline the relevant provision or any substantial provision.

5. In theory paper never read practical problems first. First attempt flat questions. Like in Audit or Law first attempt short notes or distinctions etc.

Reason for not attempting the practical problems first is that in the beginning you have enough time to read it twice or thrice and waste your time.

6. If you mention any case law highlight it properly. Write it in the following way:

Mohan Singh Rawat
Vs.
State Electricity Board

7. In distinction problems first write something (2-3 lines) about the topic. Example: Like in the distinction between Interim and Final Dividend write some about Interim and Final Dividend and mention in the end: “hence the points of distinction between Interim and Final Dividend are as follows”

8. In exam never use short forms like AGM, EGM, CG, CLB, ROC, ICSI, ICAI, SAP, AS.
Etc.

9. When you start your answer by using a section use like this:
“As per Section-171 of the Companies Act, 1956”

10. Try and make an effort to complete your paper 100%. In other words attempt full paper of 100 marks. This is very important for fetching more marks.

11. Try and avoid cutting of words. (See the example below)

Whenever a company fails to file the annual accounts and annual returns, desc -ribed in sub-clause (A) of clause (g) of sub-section (1) of section 274, persons who are directors on the last due date for filing the annual accounts and the annual returns for any continuous three financial years commencing on and after the first day of April, 1999, shall be disqualified.

Observe the first line of the Para above and see the word described. Half the word is in first line and half is in second line. This is some thing very poor as far as professional exams are concerned. So avoid it.

Suggested Post : Tips for Preparation of Law

Preparation Tips By Mr. R.D. Maheshwari

How To Prepare Law Subject

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Downloads

Important Question For May 2014 IPCC Exams | By Srinath gupta

Ipcc Law Practice Manual And Rtp in Single Click

Business Ethics Notes

Business Communication Notes

Employess Providend Fund And Miscellaneous Provisions

Gratuaty Act Notes

Contract Act Notes

Company Law Notes In Brief

Companies Act Short Notes

Law - Hand Book

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Wednesday, 4 December 2013

CPT - Exam Tips & Strategy in Examination Hall

CPT EXAM TIPS:

1. You need to score 30% mark from each subject, so don’t skip any topics from your syllabus.

2. Most of the students are facing difficulty to handle Math’s paper but If you are not good in math’s, you can’t clear CPT

3. Practice is the key to success in CPT, practice daily as many questions as possible

4. Subjects that are considered scoring in CPT are: (a) Accounts, (b) Mercantile Law and (c) Macro Economics portion of Economics

5. For practice at home, try solving questions of a topic immediately after reading theory

6. Practice with as many model and sample question papers as possible

Strategy in the examination hall:

1. Read all the instructions carefully

2. In the examination hall, for section 1, you should solve Mercantile Law questions first

3. Next, solve Accounts questions

4. Competition is tough, try solving the maximum number of questions

5. Even if you are confident that the first option in the question is correct, read all the options before answering the question

6. Even if you are confident that the first option in the question is 100% correct, check if “all of the above” option is given below or not

7. If the question asks about which one is NOT CORRECT, check if “none of the above” option is given below or not

8. Be extra careful on very easy and easy questions. Sometimes, these questions are tricky. Many students mark wrong answers for easy questions and regret later

9. Use elimination method for those questions whose answers you don’t know directly. Eliminate those options which can’t be right, and then choose your answer from the remaining options

10. Leave those questions about which you are not confident at all, remember there is negative marking. Don’t bring your score down by attempting questions whose answers you don’t know at all

11. Where in doubt, always consider your first guess or the answer that came in your mind first as the right answer

12. Always recheck your answers after attempting all the questions