What to Study- Easier Said Than Done

Hi Guys!!!

In this blog I have come up with the study material that I referred or suggest. See generally as a CA student the study part of each subject may be divided into two parts one is the concept portion and second is the practice.

CONCEPTS

Concepts that we are supposed to cover are the syllabus defined by the Institute of Chartered Accountants of India in form of modules (Study Material). Carefully see what I have written covered and not read. So what does this mean??

Well what I mean is that as long as we read all the concepts (that are covered by module) from anywhere it is fine. Example- There is a module on Direct Taxation by ICAI. But I might be more comfortable reading some other book say Bangar’s Book on Direct Tax. It is absolutely fine but what we can do is just keep an eye on module to make sure all portions have been covered. Still for subject like IT SM in IPCC and ISCA in Finals I particularly suggest study only from module.

Concepts can be covered from:

·         Module

·         Authors reference book- which are generally developed with module as base

·         Tuition Notes- which are generally developed with module as base

Make sure you don’t duplicate. Generally I would suggest pick one book/ notes and follow it thoroughly.

PRACTICE

Practice should be done after completing concepts

Practice question sources are:

·         Module questions

·         Practice Manual Questions/ Scanners ( They both contain past exam questions)

·         Tuition notes which is compilation of questions from above two sources

When practicing again make sure there is no duplication. Eg: If your tuition notes cover all past exam questions there is no need to do scanner.

Guys see I have specifically written that practice after covering concepts. There are a few queries like whether practice manual is sufficient. I here emphasize it that- IT IS NOT. First cover concepts and then practice.

What follows next is subject wise study materials that can be used:

1)      Financial Reporting/ Financial Management/Management Accounting (Accounts, Cost, FM)

a)      Concept portion can be covered from tuition notes if you take.

b)      Practice questions from Practice manual or Scanner

2)      Direct and Indirect Taxation

a)      Concept portion from a good authors book for applicable Assessment Year and latest amendments

b)      Practice from that book itself. Generally Practice Manual questions and solutions are as per previous laws.

c)       Case laws from ICAI Published Case Book relevant for your attempt.

3)      Law and Audit

a)      Refer from an author’s book

b)      Practice past exam questions.

4)      ISCA

a)      Only Module- Make sure that you cover the same bold points as given in module. The explanation of points may be done in own words.

·         Cover RTP of your attempt thoroughly.

·         Do write papers of past 4-5 attempts in exam simulated environment and time.

A point of caution- If your exams are within 6 months from reading this blog, do not change the base of your reading. Keep on following what you are and don't make major changes.

That’s it for this blog. I will come back with How many Revisions and Retaining theory soon.

Regards

Sanjay Nawandhar