How to pass CA IPCC LAW Exam ?

If you are giving your IPCC LAW exam in this may or nov then must watch this. It will surely help you in passing very easily

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How to study without getting bore?

This problem often seen in students. Students say they get bore after studying for sometime.Here is the method which i applied on my self. This showed a good result.
1. Select a peaceful place with plenty of fresh air.
2.Always use a chair or stool to study as it protects us from laziness and hence from sleep.
3. Select a limited work or pages or topics to be covered in a short span of time. The selected pages or topics should be less than your average speed of reading. e.g. if u can read or learn 8 pages in a hour select 6 for hour.
4. Drink water whenever you feel sleepy. Can also try coffee or Soda containing caffeine and peppermint toffees or chewing . Chewing also keeps brain active by supplying blood.
5.Read and learn as you are not a student but as you are a teacher. Explain each every thing to yourself in the language you like most. Treat nearby area and walls as students.
6. Listen some music after some pages or topics as a reward.
7.For numerical or practical subjects listen some soft music in slow volume along with study.
8.Feel the importance of each and every topic in your life. Try to get examples for each topic.
9. Correlate each topic or paragraph with something. Like while studying something about business try to correlate it with your own business or friend’s business.
10.Make songs or poems of difficult lines you are unable to learn.

:– CA Alkit Jain

7 LAW OF CLEARING CA CPT EXAM : MUST READ

Tips for passing CPT Dec 2013

(share it to help others )

Here, I have given 7 most important tips for CPT Exam. Kindly consider to crack CPT in first shot.

1) Most IMP: Remember you will have to get at least 30% in all subject, so till last attempt, generally CPT students were leaving Matches & statistic totally, but you cannot do so as 30% rule is applicable. 

2) Accounting: Accounting is the scoring subject for CPT exam. If your account is well then your chances of cracking CPT is very high. In Accounting before starting revision of chapters/sums, first study whole theory of that chapter and then solve at least 1 or 2 questions from examples.

3) Mercantile Law: Prepare Mercantile Law thoroughly, don’t miss any topic, refer all the acts applicability date & definition. Because it was the only scoring subject after accounts. Contract Act is important one.

4) Economics: In economics 1st complete Macroeconomics then go for micro economics. Macro Economics is also very scoring.

5) Quantitative Aptitude (Math’s & Statistics): In Mathematics, first do the easy chapters which you had learned in school during 8, 9, and 10; In Statistics, don’t miss Differentiation and integration, Correlation and regression and theoretical distribution as these are the important one.

6) How many answers to tick ? This is the most obvious question to most of the CPT students. I will recommend you to tick mark around 160 – 170 minimum if your preparation is not good enough. Don’t do foolish thing of marking all of 200 questions otherwise you may be failed with 7 – 10 marks missing. I have personally seen peoples who tick mark all of them and fails, recently my friend had done the same mistake and he got 94 and failed and his brother had ticked 168 and he got 100 marks and was the luckiest CPT cracker. So, please keep this thing in mind. If you are well prepared then you don’t need to keep such restriction.

7) Be confident & Hard-worker: Last but not least study hard and do the hard work only because there is no substitute of hard work. And refer our most wanted article:- >How You Can Pass CA CPT Exams in 1st Attempt Easily
Best of Luck (y)

IPCC Group II – Accounting Standards and their disclosures

IPCC Group II focus on Accounting Standards and their disclosures..AS-4 contigencies & events occurring after balance sheet. This is very important part to remember for every student.

ACCOUNTING STANDARS AND THEIR	DISCLOSURES (IPCC GROUP -II )
AS-4 contigencies & events occurring after	1. Nature of contingency and events.
balance sheet date	2. Affect of uncertainty in the sense of future outcome.
	3. Estimate of financial effect or the fact that estimate can’t be made.
AS-5 net profit or loss for the period, prior	1. narture and amount and their impact on
period items and changes in accounting policies	current profit or loss can be clearly perceived
	2. material impact in later periods
AS-11 Effect of changes in foreign exchange	1. exchange rate.
rates	2. Nature and reason for change.
	3. Profit or loss in process of exchange.
AS-12 governament grants	1.method of presentation
	2.nature ans extent of government grants (mandatary and non mandatary assets given at concessional rate or free of cost)
AS-16 borrowing costs	1.policy adopted for borrowing cost
	2.amount of borowing cost capitalised during the year
AS-19 lease accounting	Finance lease:
	lessee:
	1.lease assets must disclose separately
	2.details of lease period
	3..if any contingent rent it should recognized as expense in P&L a/c
	lessor:
	1.contingentrent recognized as income in P&L a/c
	operating lease
	lessee:
	1.Lease payments recognized in P&L Account for the period separately
	lessor:
	1.contingent rent recognized as income and P&L Account
AS-20 earning per share	1.The amount used as numerators and a reconciliation of that amount to the net profit/loss for the period.
	2.The number used as denominators and a reconciliation of those to each other.
	3.The nominal value along with EPS figures.
	4.If a component of net profit is used which is not reported as a line item in the P&L Account, a reconciliation should be provided.
AS-26 Intangible Assets	1.amortisation rate and method using
	2.gross qualifyingamount,impirement losses accumulated amortisation
	additions,disposals,losses.,etc during period
	3.if amortised over a period of 10 years then reasons
	4.what assets pledged for liabilities as security
	5.commiment amount
	6.R&D recognised as expense during period
AS-29 provisions,contingent liabilities	provision:
and assets	1.carrying amount
	2.additions made during period
	3.used and unused amounts during perios and amount of resevre
	4.nature of obligation in brief
	5.any reimbursement
	liabilities:
	1.nature
	2.financial effet
	3.uncertainity ragarding outflow
	4.any reimbursement
	5.required info and state of fact

TIPS FOR PREPARING LAW EXAM

How to Prepare Law subject

 

1.   Use Scanner from the very beginning. It helps you to recognize which chapter is to be given preference. Prepare a list of Chapter wise frequently asked questions from the Scanner and prepare them properly.

 

 

2.   Try and develop a sense to figure out excess study material from the exam point of view and cross that material immediately in your book. Study Material provided by the institute is not updated most of the times and full of totally irrelevant material/theory.

 

 

3.   If you have time prepare your own notes to learn properly only for important topics along with frequently asked questions solution.

 

 

4.  As per my opinion you shouldn’t ask anybody about the relevance of quoting sections in Exams. It is off course extremely useful in law subjects especially in CA Exams. Try and quote section in your exams without any hesitation. Prepare a special strategy for remembering sections. If you make it a habit now it will 100% pay at the time of your final preparation.

 

 

5.  Don’t play with the language of law specially Definitions. It is strongly recommended to put the definition in the exact language. However you can take slight liberty while drafting your answer in respect of other law language but the context, texture, interpretation and meaning should not be changed.

 

 

6.  Work out on your presentation and writing skills.

 

 

7. Don’t use different notes for one topic. Finalise your notes before starting final Examination preparation and stick with them.   

 

 

8.  10 Days before examination date do not add any new topic in your schedule. Just focus on revision-revision and revision.

 

 

9.  Time saving method: As per my opinion in theory paper you should attempt flat questions first. After that attempt practical problems. Like in Audit or Law first attempt short notes or distinctions etc. In the beginning if you attempt practical problems first then there may be wastage of time in reading the problem twice or thrice.

 

 

10. Make Point & give heading: In other words write your answer to the point. Try and convert the paragraphs in to points and give them a heading like I am giving in this Article. However, if during exam you have no time then avoid this practice. But it’s a very good technique of theory presentation.

 

Use of sections in the CA exams:-

 

Use of sections in the CA exams:-

As per my suggestion student should start writing sections and case laws at the PCC level itself. I would suggest you to make it a habit to remember sections along with case laws as it will surely help you a lot during preparation for CA final or other professional examinations. Section and case law knowledge is also very important for your professional working. It is 100% true.

Keep one thing in mind — write the sections and case laws only when you are 100 % sure, otherwise leave it.

However let me tell you one thing you can easily clear your CA without sections but for me it is all about standards. Now the choice is yours.