CA FINAL ISCA EASY NOTES

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CA IPCC EASY FM THEORY NOTES

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CA FINAL STANDARD COSTING EASY NOTES FOR CA FINAL/IPCC

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AUDITING ASSURANCE STANDARDS notes for ca final students

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CARO Reporting easy learning technique for Ca students

Guys the CARO reporting requirements.. Easier way to remember.. " IF CCD IS FILLED GRAB SPECIAL (SPL) TEA (T)" I - INVETORIES F - FIXED ASSETS C - COST ACCUNTING RECORDS C - CHIT FUNDS D - DEPOSIT I - INTERNAL CONTROL S - STATUTARY DUES F - FRAUD I - INTERNAL AUDIT L - LOAN TO/FROM DIRECTORS L - LOAN AGAINST SECURITIES E - END USE OF ISSUE PROCEED D - COMPANY DEALING IN SECURITIES G- GUARENTEE GIVEN R - REPAYMENT OF DUES A - APPLICATION OF FUNDS B - END USE OF BORROWING S - SECURITIES FOR DEBENTURES ISSED P - PREFERNTIAL ALLOTMENT L - LOSS MAKING COMPANY T - TRANSACTION COVERED U/S 301 Do make frequent application of the same in audit exam.. Will fetch better marks..

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Service tax negative list easy learning trick for ca students

Shortcut to remember Negative List : " 'GOVERNMENT' ne 'RBI' ko 'FOREIGN DIPLOMATIC MISSION' karne ke liye 'AGRICULTURE' pe bheja. Lekin waha ja ke pata chala ki waha pain to sirf 'MANUFACTURING' and 'TRADING OF GOODS' hi hota hain, isiliye unhone 'ADVERTISEMENT' kar di. Aage dekha to 'TOLL BOOTH COLLECTION' walle log 'LOTTERY' and 'ENTERTAINMENT' kar rahe the and 'ELECTRICITY'ka to 'EDUCATIONAL INSTITUTIONS' and 'LET OUT RESIDENTS' main 'FINANCE' hi nahi hain. Dusri side dekha to Pata chala ki 'GOODS FOR TRANSPORT' and 'PASSENGERS' ko 'FUNERAL' ke liye le ja rahe the.
and the other is
Important for Exams Easy ways to learn Service Tax NEGATIVE LIST in alphabetic order... 01. A- Advertisement (except on radio & T.V.) 02. B- Bridges 03. C- Cabs (means transportation of passengers) 04. D- Diplomatic mission 05. E- Electricity 06. F- Funeral (includes transportation of deceased) 07. G- Goods Transportation 08. H- House Residential 09. I- Interest 10. J- Jhule (Rides) 11. K- Kheti (agriculture) 12. L- Lottery 13. M- Manufacture N ---------O- ---------P--------14. Q- Qualification (education) 15. R- RBI 16. S- Sarkar (government) 17. T- Trading of Goods. Total 17 services are in negative list.. [Share dis guyz, so that maximum people can get benefit]...!!!

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CA final Important topics for nov 2014

CA final IMPORTANT SUGGESTIONS AND TIPS

Tips and Suggestion for CA FINAL
[Please Share dis blog as much as u can
so dat ur frnds will also get benefit of dis..]
Note: Remember All topics are Important
in CA.. Dese are only selected topics which
have more chances to come in exams..
|
Paper 1: Financial Reporting
1. start wid some Imp AS first which is
Imp.. - AS 2, 15 ,16 ,22 ,28 ,30 ,31 ,32
2. Practice sums on Consolidation from
Practice manual
3. Share Based Payments... 1 Sum on
ESOP is likely to come
4. practice Valuation of Goodwill.
5. After all dese, den come again over AS
which are left so as to maintain balance
between chapters and AS.. Den
Amalgamation. AMalgamation is Big
chapter BUT it is very easy so kip it in last.
BUT DONT FORGET TO PRACTICE
AMALGAMTION... AMALGAMTION IS
IMPORTANT..
|
Paper 2: Strategic Financial Management
1. Leasing is important. Dividend Policy-
using MM Theory, Bond Valuation,YTM,
Portfolio- CAPM,APT, sharpe index is not
so imp but it is advisable to have look
once on it.
2. How to Hedge Currency Risk, Swaps,
how to calculate value of call/put option,
BLACKSCHOLES Model is IMPORTANT,
Decision Making Sums in Capital Budgeting,
Capital Rationing, Sums on Factoring
|
Paper 3: Advanced Auditing and Ethics
1. Start wid Ethics Portion First.. it is very
easy and scoring.. 16 marks are very easy
to score...
2. Do some Imp SA first : Representations
By Management, Audit using the work of
Expert, Analytical procedures, Auditor's
responsibility relating to Fraud, Identifying
and Assessing the risk of material
Misstatement, External confirmations,
Subsequent events.
3. den do CARO, Peer review, Cost Audit
4. den proceed wid sum practical topics
like Audit of Insurance companes, banks..
In these chapters, dont spend more
times.. Just complete wid thorough reading
and remember the common points only...
5. Again continue wid SA.. it will help u to
maintain balance between chapters and
SA's
6. To fetch More marks, try to give
reference to AS,CARO, SA and companies
Act in all practical case studies... it will
give u more marks.. Giving u example..
Like any case come relating to Related
Parties Transaction.. u can give reference
of AS 18, Caro also covers 1 Point, Give
refernce of SA. Also Companies Act states
provision about Related parties. Now
Compile ur answer together.. It will really
fetch gud marks. Hope u all get it my
point..
Refer Surbhi Bansal Mam's Book for
Audit...
|
Paper 4: Corporate and Allied Laws
1. Directors are Important. it will cover
around 30-35 marks. Any portion can be
asked. so study in full
2. 1 case law on Oppression and
Mismanagement.
3. Now complete wid Banking Act, FEMA
4. Do this Question- Obligations of Banking
companies under Prevention of Money
laundering Act.
5. u have to balance company law and
Allied law.. Refer Munish Bhandari for
Law.. Best Book..
|
Paper 5: Advanced Management
Accounting
1. Complete with QT portion first. it is
very easy and scoring too.. Network,
Linear Programming are favourite chapters
of icai.
2. Try to solve sums from practice manual.
important chapters- standard Costing,
Marginal Costing and Transfer pricing.. Rest
chapters r also imp But 1st do dis.. Try to
make chapters conceptually strong as
unlimited sums r der.. so only solving will
not help u out.. Solve practice manual and
RTP..No extra books required for Costing..
|
Paper 6: ISCA
1. Again favourite Subjects of all of urs....
Best Reference book is Dinesh Madan But i
will advice u to do from ICAI Studymat
only.. Important chapters are- IT ACT, Risk
Assessment Methodologies, BCP, PIR
(ch-3), SDLC (ch-2), System Requirement
Analysis(ch-2), COBIT, Systrust and
webtrust (ch-8), HIPAA (ch-8)
2.ERP- why needed? features,
implementation guidelines, post
implementation effect
3. Also Cover all questions given in RTP for
may 13, nov 12 and may 12..
|
Paper 7: DIRECT TAX
1. Cover all Amendments First
2. case laws issued by ICAI. may 13, nov
12 and may 12 cases r equally important
provided by icai
3. AMT AND MAT
4. TDS
5. Now do PGBP. it is lenghty but easy..
solve from practice manual. sec
28(chargeability), sec 35AD, sec40A(2),40A
(3),43B, PTS. Sums on LLP must do..
6. now do Wealth Tax.it will fetch 10
marks..
7. now do small chapters like Setoff,
clubbing, DTAA
8.Then start wid CG.. again big chapters..
9. Remember Tax is very lengthy and it is
not possible to do all chapters and all
sums. so manage ur time accordingly and if
not possible to do all sums, leave it, just
have a knowledge on subject matter..
Concept should be clear
|
Paper 8: Indirect Tax
1. Cover all Amendments First
2. case laws issued by ICAI. may 13, nov
12 and may 12 cases r equally important
provided by icai
3. Complete POT first, den start wid
Service tax. scoring and easy.. I will advice
u to do VAT 1 day before exam. as it is
very easy. so dont spend much time on
VAT. Give 4 hrs to VAT only before exam
day. it is enough.
4. Practice sums on SSI,Cenvat credit,
Customs Valuation, VAT.
IMPORTANT NOTE:
1. Dont learn Section Numbers as it is not
important but once u give wrong number,
u will be awarded 0 Marks and there is no
extra marks on section number.
2. For Tax, If u dont remember the name
of case study, write ur answers without
giving the name BUT dont give wrong
name to case law.
3. All above provided tips and suggestions
may vary according to ur capability and
time management. and these are only
selected topics. Remember all topics and
every chapters are important in CA.
Manage ur time accordingly..
4. 10 days go for March only. Kip Only
revision time for April. All those whose
exams will be in MAY 13 are requested to
logout from facebook for 2 mths.. it will
save ur 6 mths...
[Please Share dis blog as much as u can
so dat ur frnds will also get benefit of
dis..Dont forget to share dis status]
WISH U GUD LUCK for ur exams...

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easy way to learn standards of auditing

learn standards of auditing in story form.....which will bring your subconscious mind in to plat and will put in your long term memoery here is the link to pdf file

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NOTES ON PERQUISITES FOR IPCC/FINAL

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accounting theory notes for ca student

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CA final IDT revisionary classes

LINK TO THE REVISIONARY CLASSES

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costing theory notes for ca ipcc

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COSTING QUICK REVISION NOTES FOR IPCC

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COSTING IMPORTANT FORMULAS

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FM IPCC NOTES QUICK NOTES

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COSTING FM IMPORTANT TOPICS FOR IPCC

Important Chapters/Topics:

Costing:

• Material Cost
• Contract Costing
• Marginal Costing
• Joint and By Products (Theory)

Financial Management:

• Cost of Capital
• Cash Flow Statement
• Management of Working Capital

—————————————————————————————-

IPCC Costing and FM Important Theory

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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ACCOUNTING STANDARD SUMMARY FOR IPCC STUDENTS

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IMPORTANT AUDIT QUESTIONS FOR CA-IPCC STUDENTS

Question-1 Discuss the basic principles governing an audit.
Question-2 Discuss limitation of auditing.
Question-3 Discuss the areas in which different
accounting policies may be adopted.
Question-4 State briefly qualities of auditors.
Question-5 Short note on Independent audit and its
advantages.
Question-6 Discuss the concept of true & fair view.
Question-7 What are fundamental accounting assumptions
and their disclosure requirement?
Question-8 Write short note on Substantive procedure.
Question-9 Discuss the reliability of audit evidences.
Question-10 What are the specific assertions relating to
items appearing in financial statements?
Question-11 What are the audit techniques to obtain
audit evidences?
Question-12 Discuss analytical review procedure with
reference to SA.
Question-13 Write difference between Auditing &
Investigation.
Question-14 What do you mean by “Sufficient Appropriate
Audit Evidence”? State various factors that help the
auditor to ascertain as to what is sufficient appropriate
audit evidence.
Question-15 What are the benefits of audit planning?
Question-16 What are the advantages and disadvantages
of audit programme?
Question-17 Discuss examination in depth.
Question-18 Discuss Surprise check.
Question-19 Discuss Audit Risk.
Question- 20 Discuss Random Sampling
Question-21 What are the inherent limitations of internal
control?
Question-22 What are the General considerations in
framing a system of internal check?
Question-23 Discuss the concept of Internal audit.
Question-24 Discuss the concept of audit materiality.
Question-25 Write difference between Internal control
questionnaire and Internal control evaluation.
Question-26 Factors to be considered while establishing
overall audit strategy.
Question-27 Short note on Audit working paper and its
advantages.
Question-28 Content of permanent working file and
current working file.
Question-29 Difference between black box approach and
while box approach.
Question-30 Define audit trail.
Question-31 Internal control in CIS environment.
Question-32 How auditor is removed?
Question-33 Disclosure requirement u/s 224 (1A).
Question-34 Write rights of the auditor.
Question-35 Verify issue of share for consideration other
than cash.
Question-36 Verify Buy Back of shares.
Question-37 Share transfer audit.
Question-38 Verify issue of sweat equity shares.
Question-39 Verify issue of share at premium.
Question-40 Verify payment of interest out of capital
Question-41 Write note on expenditure audit.
Question-42 Special audits of Hotel, Hospital, Cinema,
Club, NGO, Educational institution, and Local bodies.
Question-43 What is CARO 2003, and what is it’s
applicability.
Question-44 How the first auditor of the Co is appointed?
Question-45 Appointment of auditor by passing SR.
Question-46What are reporting requirement as per
section 227 (3).
Question-47 Cut off procedure.
Question-48 Verify option on share capital
Question-49 Audit of Government receipts.
Question-50 Power of CG to appoint the auditor.

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Tips & Suggestions for CA Final Both Groups ( Only important topics which help you to get pass)

Accounts :-
AS – 30, 31, 28,26,22, 17, 16, 7, 5,4 ,19 Valuation of Goodwill, EVA, Brand Valuation, Value Added Statement, Mutual Fund, Share based Payment, Bonus share and in last do amalgamtion and CFS.
SFM :
In starting do Derivatives, Foex and Portfolio marks cover around 40-50.After that do Merger & Acquistion surely 8 marks question will be asked. Now do valuation of business and security marks covered 16-20. Mutual fund will surely asked minimum of 5 marks so prepare it well. For theroy do Practice Manual as many times it will be repeated. And its better if you solve practice manual of SFM its will be great to do so.
Advanced Auditing & Professional Ethics :
1. Do professional ethics Ques. 2 will of this topic of 16 marks.
2. Prepare CARO, Form 3 CD very well surely question will be asked of this topics and of around 16 marks.
3. Prepare AS & SA. As time we can’t remember all content of SA so just remember title of SA. Important AS -4,5,10.
4. Question from Due delligence, Audit of PSU and Management & Operational Audit.
5. Question from GIC & Banking will be in this attempt and Audit in CIS.
Law :
1. Start with Chapter Directors. Around 30 marks questions asked out of it.
2. Now do small topics like Accounts & Audit, Dividend, Inspection and Investigation marks covered 12-20.
3. Now do Prevention of opperssion and mismangement and winding up marks covered 10-12.
4. Now do Companies incorporated outside India & Compromise, Arragements and reconstruction marks covered 8-12.
5. Now do allied law – Important are SEBI, FEMA, SRFAESI Act, Competetion Act & Insurance.
Group 2 ( Only important topics which help you to get pass ) :
Advanced Management Accounting :-
1. Friends start with OR part ( Important topics are LPP ( Simplex ), PERTS, Learing Curve & Transportation . Marks covered minimum 30.
2. Now do theory part. Theory will be asked for 30 marks and even more. ( Important theory – Steps in simulation, ABC Costing, Backflushing, JIT, Pricing Decison – Pareto, Costing of service sector, Uniform Costing )
3. Now do tranfer pricing and standard costing. Marks covered around 20 questions will be surely asked out of both topics. Standard costing will be easy in comparison to transfer pricing.
4. Now do Decision Making & CVP. In compulsory question you will surely find 5 marks out of it. And later on one 8 marks ques. at least.
5. Now do remaining topics.
ISCA :
1. Start with chapter 5,6 & 7 most easiest chapter n cover 30-32 marks. ( Important Topics – Threats, Risk Assessment, Techniques for risk mitigation and delphi technique, Disaster and procedure, Types of system backup, BIA, software backup techniques, ERP & its characterstics, Challenges in implementation, Kinds of business risks ).
2. Now do chapter 10 surely 10 marks question will be asked out of it. So make sure u do it properly.
3. Now do chapter 1,2 & 3. Around 40 marks question will be asked out of this chapters they are long chapters just make lil analize and don’t read those topics which were in last attempt.
4. Now do remaining topics which are easy ones.
Direct Tax :
1. Staright forward do case laws and amendments which are issues by ICAI. Marks covered 30-32 miminum even more.
2. Now do Capital Gain & Gift. Marks covered by this topics 15.
3. Now do Assessment procedure marks covered by this topic 10-15. And question on due dates of ITR will be surely asked.
4. Now do Assessement of Trust and Companies. 8-10 marks question will be asked in exam.
5. Now do small topics like Assessment of NR, DTAA, TDS etc. marks covered by this topics 10-12.
6. Now time to do 4 heads of Income. I know you all thinking 5 heads in last to friends just once check previous paper not much questions asked out of it. Ques.2 of paper will be of PGBP but it contains all amendments so you can do PGBP from summary module.
Indirect Tax :
1. Again in IDT you should start with Case laws and amendments. Marks covered 40. Question no. 4 & 5 will be of case laws only. And Ques.2 is full of amendments.
2. Now do Valuation of Customs, Valuation of Excise in Ques. 1 both will be asked for 5 marks each and even 15 marks topics this is.
3. Now do service tax and VAT. Theory and practical both will be asked out of this topics. In Ques.1 2 parts will be of VAT & Service Tax.
4. Now do CENVAT Credit and Export Procedures under Central Excise Act.
5. Now do Refund and Remisson and destruction of goods.
6. Now do remaining topics as around 20-25 marks will be out of remaining syllabus.
* Do refer Practice Manual in ISCA & IDT ( Latest edition )
** For case laws and amendments buy supplementary book issued by ICAI & Amenements are provided in RTP.
Wish you all the best

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How to Study Effectively – 8 Concentration Strategies for ca students

We found a killer list of concentration strategies for students.
This list is perfect for those who want to know the best way to cram for an exam. Check this out:
Eat Frequent Small Meals
Avoid eating a big meal before a study session. Too much food will send your body into a ‘rest’ mode. On the other hand, don’t starve yourself either. Frequent small meals are best.
Study When You’re Sharpest
Study according to your body-clock. Are you sharpest in the morning or at the evening? Schedule your most difficult materials when you are mentally at your best, and schedule the easier ones when you are mentally less efficient.
Drink Water Often
Drink plenty of water during a study session, especially when you feel sluggish. Caffeine may help you to stay awake, but it can increase your anxiety – use it in moderation.
Don’t Get Too Comfortable in Your Chair
Choose a chair that supports your back. It should be comfortable, but not too comfortable. Just like an athlete during a performance, your body should be relaxed, so that all your energy goes to where it matters – your brain.
Clear Your Desk of Everything You Don’t Need
Have everything you need on the desk. Put away what you do not need for the study session. Seeing reminders of other assessments or domestic bills may increase your anxiety and distract you.
Take Breaks Every Hour
It is important to take a break before you feel tired and lose your concentration completely. Regular breaks at least once an hour helps to sustain your concentration. If the work is not going too well and you have difficulties in concentrating, you may need a long break and go back to it later
Stretch During Your Breaks
Know and respect your concentration span which will vary from hour to hour and from day to day. When you sit for long periods, gravity draws the blood to the lower part of your body. When you take a break, take a few deep breaths and get more oxygen to your brain: try walking around and doing some light stretching for a few minutes. It will help to release tension in your body, and help your circulation.
Study at the Same Time, Same Place
Study at the same time and at the same place, devoted to study only. This helps you to associate the time and place with studying and concentrating. You will find that you get into a habit of studying as soon as you sit down.
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Avoiding exam stress for ca students

For some students Exam time is the most stressful part of their life. But to be honest this is not a correct thinking or approach. There are certain or simple things which can really help you to avoid last time examination stress. So through this brief write‐up an attempt has been made to share some points regarding how to avoid examination stress. The theme of this write‐up is—avoid exam stress through a sound exam preparation because I personally feel that stress at the time of examination is the result of weak preparation and shows lack of self confidence towards the preparation. So some of the points mentioned in this write‐up are connected or dealt with good exam preparation. Please find below some of my very simple observations regarding how to avoid the examination stress: FOCUS ON CONCEPTUAL STUDY This is one of my all time and permanent suggestion. To avoid examination stress and secure long time professional success it is very essential to focus on conceptual study from the very beginning of your professional journey. Conceptual study is the only way out to deal with any sort of examination. GIVE A COMPLETE READING TO THE COURSE It is also important to give a complete reading to the course content. For exams preparation, Confidently strike off the topic which according to you is irrelevant and never asked in the exams. This point is totally connected with your self confidence and consequently reduces your exam stress. Remember in the exam hall a small hint or 10‐20% knowledge is enough to attempt a question. A simple reading or knowledge can be very handy for exam. SPEND SOME QUALITY TIME WITH YOUR FAMILY AND FRIENDS One of the best way to handle exam stress is to spend some quality time with your family and friends. I urge you all to consider this point very important to regain the entire consumed energy and enthusiasm. According to me during exam time family and friends are like protein and energy boosters. They provide you the desired strength to fight with exam stress. So after a long study session have a relaxed chat or interaction with your family and friends. I personally feel that this is a solid method to avoid exam stress. Try this… FOLLOW A FIXED STUDY PLAN HONESTLY As per my personal understanding if you follow a regular study plan from the very beginning, you can easily avoid the exam stress. Exam stress is somewhere connected with your preparation method. If you are satisfied with your preparation then it would be easy for you to say bye‐bye to exam stress. So try and understand the importance of this point and prepare and follow a detailed and flexible study plan from the very beginning. AVOID NEGATIVE THINKING Negative thought or thinking is one of the biggest reasons of exam stress and consequent failure in exam. Without any proper reason avoid thinking that your preparation is bad or you are weak in theory or practical paper. Just go ahead and give your best shot. Do not allow negative thinking and consequent exam stress to distract you and your positive energy. Your confidence is more important than your competence. CA examinations is a test for your emotions and confidence. Many students fail not because of lack of preparation but because of lack of confidence. Remember in theory papers by preparing just 50% of syllabus you can score not less than 60%. Less the quantity more is the quality. MANY BOOKS … Don’t refer too many books. Just refer one good material and IF time permits suggested answers and ICAI material. Remember you don’t need wider knowledge to Pass CA. You need Deeper knowledge and you will get it by repeated revision but not by reading many books. You may read less and your preparation should not be less. Instead of reading some thing of every thing it is better to read every thing of some thing. GOOD REVISION SCHEDULE AND PRACTICE EXAMS A good revision during exam time surely relaxes your mind and helps you to avoid unnecessary exam stress. So prepare a special strategy for course revision (revision exams schedule) and prepare special short revision type notes/flow charts. Plan your revision schedule as early as possible and follow the same honestly and keep reviewing it and make necessary changes as and when necessary. This point helps you to deal with lengthy course and improve your revision strategy. Select easy chapters as per your strength and gain tremendous confidence by practicing more & more questions. After gaining enough confidence remove that chapter from your final revision list. Now there is no need to revise that chapter during final revision and be confident about that chapter. Just follow your revision schedule strictly. Many students fail CA exams only because of lack of proper revision and by not practicing revision exams and directly appearing in final exams. BOTH OR SINGLE GROUPS The right decision in this area will help you to pass or get a rank. Assess your preparation and then take a decision. Take your faculty or well wishers advice if required. But stick to that decision till you write the last examination. Especially in case of IPCC, even if you pass group 1 you can join articleship and can save 6 months of your valuable time by appearing for ca final along with those students who appeared for both groups and qualified. Don’t wait for results to come. If you think that your preparation is not good start preparing soon after the completion of your exams. Atleast you can qualify in next examinations. SOME OF THE GENERAL OBSERVATIONS TO AVOID EXAM STRESS ARE AS FOLLOWS Stay away from unnecessary examination pressure. Remember exams are just to test your knowledge and should not be treated as a pressure cooker. To avoid exam stress always believe in action. Thinking without action will increase your stress and adversely affect your positivity. Always make provision for a small break during long study sessions to rejuvenate your energy and strength. Slight nervousness is perfectly fine and inevitable during exam time. But excessive stress can be very harmful and block your thinking process. So just be careful. Last but certainly not the least to avoid exam stress or any kind of stress in life it is very important to have faith in your abilities and efforts. Remember nobody is perfect so always ready to improve yourself. Even in CA final, first rank holder has got just 58%. Failure in CA exams does not mean that it is the end of the life. Try again and reach your goal. Don’t forget it is a professional examination and it is so common to fail in exams. But this should not be an excuse always. Always try your best with utmost sincerity and dedication. I am sure success will follow you. Also give due regards to the expectations of your parents and also remember with their blessings you can deal with any sort of pressure situation.

Important Presentation tips for Ca exam papers

1. Give Point-Vise Answer.
2. Writte Differences In Tabular Format.
3. Quality Matters, Not Quantity.
4. Dont Try To Fill The Sheet By Writing UnNeccesary Thins.
5. Must Attend Every Question (Except One).
6. Your Good Hand Writing Always Gives A Good Impression.
7. Do Not Give Any Chance To Examiner To Cut Marks.
8. Try To Impress Examiner By Presentation Or Good Hand Writing.
9. If You Have Did Any Wrong Answer Then Cross Only Answer Serial
Number Not The Whole Answer.
10. Try To Snatch Marks In Every Possible Way..........

Business ethics ipcc notes

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IPCC AUDIT IMPORTANT TOPICS COVERING 50-60% EXPECTED PAPER

My Dear IPCC students,
Hope You are studying well....as
Promised to you all i am posting
some important questions in
Auditing. In the November 13
attempt almost the entire
Auditing paper was asked from
important questions i had
posted, so i expect that even this
time atleast 50% to 60% of the
paper will be from these
questions only. I also request
everyone to read the Practice
manual markings i had given.
Here are the important
questions:
1SA 700, 705,706
2 Appointment of auditors.
3 Limitations of Auditing
4 What do you understand by
Audit around the computer and
audit through the Computer.
5 Audit of Government
expenditure
6 SA 300,500
6 SA 560The events occurring
after B/s date.
7 Surprise check and Examination
in Depth
8Audit Trail in a computerized
accounting environment
9Distinguish between: Audit and
Investigation
10State areas in which different
accounting policies may be
encountered
11State various components of
Audit Risk.
12 Appointment of auditor in
place of retiring auditor
13Removal of auditor before expiry
of his term of office
14Fundamental Accounting
Assumptions
15 Special Audit u/s 233A v/s cost
Auditu/s 233B.
16 Audit of Club. Write about
local bodies. Audit of Hotels.
17 Special Characteristics of EDP
Systems
18 CAAT requirement in EDP
audit
19Vouching and verification Points
Given is Class
20 SA 580
21 Qualifications and
Disqualifications of an auditor
22 SA 230
23 AS 1, 6, 10,12,18,26,29
24 Branch Audit.
25 Give various factors which
result in increase in gross profit
26 How will you vouch the
following: -
-Assets acquired on Hire Purchase
and Lease- Research and
Development Expenditure - Sale
proceeds of junk material -
Recovery of Bad Debts written off -
Goods sold on Approval basis
27 Cut Off procedures.
28 Advantages of Independent
audit
29Applicability and Non
Applicability of CAR0, 2003
30Audit of Sole Proprietor
Concern/Partnership Firm
31Appointment of auditor of
Government Company.
32 SA 299,320,550, 600, 620.
33Note on Dividend
34 Emphasis Of Matter Para /
Other Matter Para
35 When retiring auditor of
company cannot be reappointed.
36 Audit of hire purchase
transactions
37 Define Going Concern
Indicators
38 Factors affection mode of
Communication with TCWG
39 Verify the following : - Capital
Work in Progress - Advances given
to suppliers - Contingent
Liabilities - Leasehold Property -
Patents
40 Fraud v/s Error, Reserve v/s
Provision

CA IPCC ELECTRICITY COMPANY EASY NOTES

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Service Tax notes by Ajay Jain Sir for AY 2014-15 and May 2014

Service Tax notes by Ajay Jain Sir for AY 2014-15 and May
2014 Attempt (New delhi)
http://j.mp/ST2014M
Password for downloading the Document is: ipccclub
Password for opening the pdf document is: caspot

 

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IPCC COSTING AND FM PREPARTAION TIPS

Weightage Of Marks

Costing – 45-50 Marks
Financial Management – 50-55 Marks

Overall Weightage

Theory – 35-40 Marks
Practical – 60-65 Marks

Now Moving on to Preparation Part in Paper III

1) Start With Theory in any of the two subjects u wish, But preferablly better to start with Financial Management as it is a Practical Subject u will become confident by chosing it First.

Concentrate on the Topics which are applied in solving the problems as this enables u to solve the problems easily… along with a ability to write theory if asked in the exam

Better if U read the theory chapter wise as reading all theory at a time doesn’t work..

2) Now Let’s move on to the Order of Preference to be chosen

a) First Start with Time Value of Money (an Easy and Important one ) – Base of Financial Management as it is applied in Capital Budgeting , Capital Structure Decisions which are major topics in Fm with this u will be able to solve the problems in these two chapters easily..
b) Now Come on to Chapter IV Financing Decisions(Cost of Capital , Capital Structure Decisions , Leverages) take on the theory part and start solving problems on your own.(helps a lot)
c) After on, take Investment Decisions which also carries more weightage follow the same rule as above Study the theory and apply thereon
d) Now,You have covered with the major topics lets move on to other topics Next it is better to choose Ratio Analysis In this Formulas Play a major role as Two-Four mark questions are asked on the simple formulas and most important is Advantages of Ratio Analysis
e) Now Move on to Cash Flow and Fund Flow Analysis for CFS much efforts are not required as it will be covered in Accounts Paper I just look at Funds Flow once..
f) Now Last Part is Current Assets Managament i.e 1)Working Capital Management 2) Debtors Management
In this section in majority questions are asked on Deriving Working Capital(WC Statement) , Preparation of Cash Budget so concentrate more on these..

Overall Tips – Practice the Problems in the Practice Manuals by the Institute it is enough no other Books are required

Now Let’s Move on to Second Part Costing..

1) In Costing it is better to start with the basic concepts the problems are unpredictable i.e Start with Basic Concepts and understand the objective of the subject it will enable you to understand better the succeeding topics…
2) Now Come on to Major costs i.e Material , Labour , Overheads
in these understand the following

Materials – Control Mechanism to Prevent costs, Selection of Pricing while purchasing , Valuation Principles (FIFO,LIFO,WAM), Accounting Treatment for Material costs incurred

Labour – Cost Control Techniques , Wage Payment Methods

Overheads – Classification of Overheads ,Methods of Absorption of Overheads , Accounting and control of Overheads

3) Now , Take Methods of costing(I) i.e Job costing , Batch costing Contract costing etc.,

4) Major Questions asked in the Methods of costing are from Contract costing.,

5) Now the Last three chapters may be choosed as ur wish as choosing anyone doesn’t make any difference

Note:Important Thing to remember is that these chapters ( Standard Costing , Marginal Costing , Budgetary Control ) Carries a weightage of 20-25 Marks almost 40 % More Practice is required in these chapters

6) At Last take on the Reconciliation of Cost Accounts with Financial Accounts as a finishing Step..

Overall Tip : It is better to choose some reference book like Padhuka for Costing to score better

Hope this will be useful for u Guys

All the best for your Preparation

IPCC COSTING &FM IMPORTANT THEORY NOTES

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

CA FINAL SFM Mergers and Acquisition Notes.

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THEORY QUESTION ON REVISED SCHEDULE VI FOR CA IPCC/FINAL

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CA FINAL ISCA MNEOMICS FOR EASY LEARNING

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CA IPCC STRATEGIC MANAGEMENT MNEMONICS FOR EASY LEARNING

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CA IPCC INFORMATION TECHNOLOGY MNEMONICS FOR EASY LEARNING

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Top reasons why students fail in CA/CS exams and remedy

{MUST READ & SHARE}
REASON 1-Carelessness towards carrer REMEDY-Be serious.else you will fell guilty throughout yur life even if you do smthng good elsewhere. REASON 2-Engaged in other activities during prepration (ie; marriage, birthday,familyget together,poojas) REMEDY-All these events can be complited without you REASON 3-Late start of study(want to become a ca just by study 2-3 months? Not possibile)[exceptin excluded] REMEDY-Start your study from the day you registred yourself with the insititute.you will be losing 1 marks every day if you dnt study from day 1 (what other important work do you have in hand) REASON 4-No proper planning n time allocatin for each subject REMEDY-Just dnt take the text book n start reading from the first chapter.plan yur subject yur intrest,have an overall fell of the book, chapters and their importance.dnt leave any chapter in option. REASON 5-Ignors study materails, suggested nd RTP. REMEDY-Study materials is bible first read this n then if required any refrence book, particulary theory subject.suggested r very much helpful in understanding the way institute ask a que. Nd expect us to answare. REASON 6-casual reading REMEDY- While reading one should not be casual in approach try to distinguish between similar concept and be clear!!

CA IPCC LAW AND ETHICS IMPORTANT TOPICS

1. Companies Act 1956 : Article of Association ,
Memoradum of Association , Share capital,
Deposites and General body Meeting
2. Business Laws : Contract Act 1872 (CPT ’s basic
concepts, Indemnity and guerentee , Special
contracts); EPF and Misc . Act ( Most IMP )
3. Business Laws : Nagotiable Instrument Act
(Discharge related points, basic points of the Act)
ca ipcc important questions
Payment of Bonus and Gratuity Act (Most IMP )
4. Business Ethics : Corporate governance and CSR ,
GTI, Conservation of Natural resources , Consumer
Acts cosumer related matters , Fundamental
principals relating to ethics , Ethical threats, Ethical
dellemas.
5. Communications: Drafting deeds (Most IMP ) ,
Types of communication , Grapewyn
communication.

Questions to revise before ipcc ethics law exams

Indian Contract Act : -
1. Case study based on ” Acceptance of Offer ” & ”
Bailment “.
2. Offer & rules for an offer.
3. Capacity to contract. IPCC Law
4. Circumstances under which doctrine of
Supervening Impossibility not applicable .
Payment Of Bonus Act , 1965
1. Who is liable to pay bouns?
2. Who is entitled to pay bonus?
3. Deduction that are allowed under the Third
Schedule
4. What does available surplus mean ?
5. Minimum and Maximum Bonus payable
6. Set on and Off of allocable surplus
7. Deduction from the bonus payable IPCC Law
8. Bonus linked with production or productivity
9. Payment of Bonus by new establishment
10. Exemption from payment of Bonus IPCC Law
Payment of Gratuity Act 1972
1. Establishments covered under the act
2. Eligibility and payment of gratuity IPCC Law
3. When it is payable? To whom it is payable ? By
whom it is payable ?
4. Write about the Computation of Gratuity of
amount payable
5. Explain Continuous service IPCC Law
6. Write short notes on reduction & forfeiture of
gratuity
The Employees Provident Fund &
Miscellaneous Provisions Act 1952
1. Employees Provident Fund Scheme and its
salient Features
2. Employees Family Pension Scheme and its
salient features
3. Employees Deposit Linked Insurance Scheme
4. Protect Against attachment of provident fund
5. Central Board of Trustees IPCC Law
6. Change of Employer –consequences
7. Authorization of certain employers to maintain
of a/ cNote :
Students are requested to also go through
Practical Questions from the Above acts
Negotiable Instruments Act, 1881
1. Promissory Note
2. Bill of Exchange IPCC Law
3. Provisions relating to maturity o n days of
Grace
4. Cheque and its essential features
5. Crossing and different types of crossing
6. Conditions of Holder IPCC Law
7. Holder in due course and privileges available
to him
8. Holder Vs. Holder in due course
9. Endorsement , essential features and types
10. Material Alteration IPCC Law
11. Instruments obtained by unlawful means
12. Presentment and different types of
presentment
13. Presentment for payment
14. Rules regarding notice of dishonor
15. What is stale cheque? IPCC Law
16. When banker refuses payment on his
customer’s cheque ?
17. Liability of banker for wrongful dishonor of a
cheque
18. Offences / bouncing of cheque

IPCC BOTH GROUP IMPORTANT TOPICS FOR NOV 14

IPCC Important Questions May 2014
Some important questions/topics for CA IPCC which you
should not miss to prepare for IPCC May 2014 exam. These
are very important for IPCC May 2014. These are provided
by Yogesh Gupta.
(Don’t leave these Chapters & topics at any Cost)
*Group 1
Accounts
-Avg. due date(4)
-Partnership(16)
-Pre-incorporation(8)
-Amalgamation/Internal Reconstruction (16)
-Hire Purchase(8)
-NPO(16)
-Cash flow(16)
-Single entry(16)
-Imp. AS(revenue recog.,contract
,dep.,fixed asset)
*Law,ethics n comm.
-Bonus(8)
-Gratuity(8)
-last 3 chptrs of Indian Contract
Act,combined (10)
-Share Capital,General Meeting
-t/f transmission of shares Membership
-Share allotment,prospectus n MOA yg
-ethics(full,dnt leave anythn)
-comm.(deeds r vry imp.) n comm.
theory,rest of d chptrs
*Cost Accounting & FM
-Contract Costing,Material
-Reconciliation
-Standard,Marginal
-Labour,Overhead,Process Costing
-Capital budgeting,leaverage
-Working Capital,Receivable Mgt.
Cost of Capital,Ratios
*Taxation
-Salary(RFA,HRA,gratuity,pension,leave salary…motor car
facility n few more perquisites,all allowances r imp. shudnt
b ignored) yg
-Business proff.(thz sec r d most imp. viz sec
32,40A2,40A3,43B n topics lyk deduction in case of
scientific research,writing off of preliminary exp.,ques
related with book profits n cash payments in excess of
20,000 n payments tht can b made n claimed till ROI filing
date ie d above sections mentioned)…dnt leave ths chptr
FCAs plz,it’s coming of 16 marks since May’10 in evry
attempt.
-Capital gains(exemption related
sections,forfeiture sec 51, conversion of capital in2 stock
n sec 47)
-ROI,TDS,deductions(80C,80D,80
DD,80U,80G)
-Clubbing,other sources
*Service tax n VAT(fully) dnt leave
anythn,r SCORING
*Grp2
Accounts
-Partnership(16)
-Amalgamation/Internal Reconstruction (16)
-Branch A/c,liquidation,ba
nking,insurance …all may come of 8 marks each
-Underwriting,departmental(5 each)
-imp. AS(borrowing cost,govt.
grant,eps,lease)
-debenture chptr(16)
*Auditing
-Vouching,verification
-Co. audit 1 n 2
-Spcl. Audit
-EDP,govt. audit,Caro
-200 300 500 series SAs r imp.
*IT
-internet
-networking
-Dbms
-flowcharts
(almost carry 40 marks weightage)
*SM (full)
So, dont miss this important topics

CA FINAL BOTH GROUPS IMPORTANT TOPIC WITH STUDYING TIPS

1) Financial Reporting:
For the important chapters for Financial Reporting for CA
Final May 2014 examination, consider following in tips:
I divide this subject in 5 parts:
1) AS.
2) Miscellaneous chapters.
3) Consolidated a/c.
4) Amalgamation.
5) Valuation.
a. AS in general are asked around 20 to 40 marks so must
not ignore that. They are sometimes copied from modules
and PM
b. You can refer any good reference book. Which I
personally feel every CA should refer, as they are
fundamental matters. WE CA s are recognized by AS. (I
referred RAWAT SIR’s)
c. Refer past papers and find out patterns. If I point out
many AS Like 15 16 20 22 30 31 32 are in category of FAQ
(these are just e.g.)
d. Miscellaneous chapters are not at all misc in
importance. They are asked of 16 to 24 marks and beauty
is they are far easier and less complicated in nature. Must
not ignore them. E.g. Nov 11 paper.
e. As for last 3 parts I am sure all of us do so much
practice that sometimes we can even solve that entire sum
without question in our sleep.
2) Strategic Financial Management:
I divide it in 3 parts (module chap no)
1) Theory( chap: all chapter module theory especially
1,8,10,11) .
2) Chap 3,4,6,7,9,13.
3) Chap 2,5,12.
i. Theory is always good scorer as being in practical paper.
ii. For the above practical chapters I’ll definitely say make
concrete base of concepts and you’ll crack the paper.
iii. AS I’ve seen the area which is most twisted in paper
comes generally from chapter 2, 5,12,7. Brush up time
value of money as it comes everywhere.
3) Audit:
I divide this subject
1) Professional Ethics.
2) Co. Audit.
3) SA.
4) Others.
a. For professional ethics I would only say mug up the
clauses line by line. As it’s our act the language must be
same.
b. Paper presentation plays important part. Must underline
all the clauses sections and SAs and have a neat
presentation.
c. Many case studies in areas of Co Audit and Professional
Ethics are repeatedly asked so do refer all the material of
institute.
d. MUST DO SAs…cause as accounting standards SA are
also most important part of our study. Don’t forget to
compress your material. (i.e. determine what to do at last
day so you can gain confidence of reading it all)
4) Law
I divide this subject
I) Company ACT.
II) Allied laws.
a. Personal advice: Munish Bhandari.
b. Don’t ignore 30 marks portion of allied laws. It’s of same
importance too.
c. Cross out repeated asked cases in Bhandari so you’ll
have less burden at last moment.
d. Read the analysis given for each topic. You’ll come to
know the weight of topic.
e. Must compress material for last day. Or you’ll be lost in
what to do and what not to do.
5) Costing QT:
Must do conceptually .
I divide this subject
Costing:
1) Standard costing.
2) Budgeting and other material related topics
( ABC,JIT).
3) Decision making chapters.
a. In costing all sum are of different type. (especially
decision making sums)
b. Be ready to read long description with lot of accuracy.
c. Checking the solved part of question and underlining the
figures will be of immense help.
d. In Qt there’s trend of asking “ulta” question which are
always easy but due to lack of practice we get scare and
not even attempt that some time. But if you are to solve
that at home you’ll find it too easy. So never freak out
when such questions are there in exam.
e. Theory is always of 33 to 40 marks having very less to
read as compare to those long questions.
f. Be ready for any kind of questions. Nov 11 final exam
question is classic example of conceptual question where
transfer pricing and other many questions were of
concepts and not of numerical.
6) ISCA
For the important chapters for ISCA for CA final November
2012 examination, consider the following tips:
I divide this subject
1) Chapter 6,7,8,9.
2) Chapter 2,10.
3) Chapter 3.
4) chapter 1,4,5.
a. Must refer module only for reading this subject. Also
write same language.
b. Have habit of reading ISCA theory in question answer
format like that given in PM. Cause most common problem
that I’ve heard is “Yaar sub kuch pada tha but question
samaj me nai aya to answer kaise likhe.” So to answer
best have a habit of reading in such format.
7) DT
Important Chapters for Direct Tax CA Final November
2012 examination:-
1) Wealth tax.
2) Assessment of different assesses.
3) 5 heads of income.
4) NR taxation.
5) Assessment procedure.
6) Other chapters.
a. Must do wealth tax, with assessment theory and in
depth. They might not ask full sum instead in past 2 years
they asked small questions.
b. The syllabus in 99% case never going to be completed if
you are giving ISCA and having only 1 holiday so must plan
LMR on hour by hour basis. And even if you can’t
complete whole syllabus no need to freak out cause
everybody is in same boat.
c. Do refer institute case laws as they are often asked same
to same
d. Amendments are “must do” thing.
8) IDT
Personal advice: Bangar
a. Must do amendments.
b. Must do institute’s case laws(asked of 16 marks almost
every time).
c. In case laws it’s not necessary to remember assessee
name but if you want to you can do this, read whole case
and wherever assessee comes replace it with the name. in
this way you’ll remember it.
d. In practices do not forget to write notes.
e. Do refer practice manual. Cause many things are asked
from that.