Important Tips For CA Exams

(a) Answer the questions with due emphasis on provisions of the law - Support your answers/conclusions with proper reasoning. Answers should be based on relevant legal provisions rather than a mere common sense and/or guess work.

(b) Quote relevant section numbers - Quoting section numbers would definitely add value to your answers. However, it is better not to quote than to misquote a section number.

(c) Give clear assumptions - Sometimes, there may be different point of view on procedural law based provisions. As a student, you should state your view/assumption clearly and proceed to answer the question on that basis.

(d) Answer in commensuration with the marks carried by the question - You should determine the length of your answer having regard to the marks allotted to the question. Do not have the misconception that lengthy answers fetch more marks.

(e) Do not use short forms - Use of short forms like CEO, AC, DC should be avoided. Write the full names of the statutes, like, 'Service Tax Rules, 1994' or Finance Act, 1994'.

(f) First attempt the question which you know best - This will boost your confidence while attempting the remaining questions and create a positive impression of your level of knowledge on the examiner.

(g) Present your answers well - Underline important points and section references as and when you answer each question. Also, make sure that your handwriting is neat and legible. Answer all parts of a question one after the other. Do not answer different parts of the same question at different places.

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Amendments in IPCC Syllabus For November 2014 Exams

!! ATTENTION About Amendments in IPCC Syllabus For November 2014 Exams!! 

1. Accounting: No changes in the syllabus
2. Business Laws, Ethics and Communication Partial applicability of Companies Act, 2013. . – 53 sections out of 98 sections notified by MCA on 12.09.2013
3. Cost Accounting and Financial Management: No changes in the syllabus
4. Taxation: ST & VAT syllabus has been revised and renamed as Indirect Taxes.
Basic concepts of excise, customs, central sales tax and CENVAT credit have been included.
Coverage of service tax has been widened.
Click Here For direct tax AY remains the same as applicable for May’14 exams.
You will need to do the relevant notifications/circulars issued up to 30.04.2014.
5. Advanced Accounting: No changes in the syllabus.
There will be some minor updates regarding CRR and SLR rates in the banking chapter.
6. Auditing and Assurance: No changes in the syllabus
7. Information Technology and Strategic Management:
IT syllabus has been revised.
New topics have been added.
No change in SM.
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AS 10 Accounting for Fixed Assets Notes

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This notes consists of

1. Definitions - Applicability - Not applicability
2. Elements of Cost
3. Costs Never Capitalised
4. What about Self Constructed Assets ?
5. Acquisition for Non Monetary Assets
6. Acquisition of Assets in exchange of Shares or other Securities
7. When several assets are bought for lump sum consideration ?
8. Measurement After Recognition
9. How Revalued Amount is determined ?
10. How Revaluation is affected ?
11. Revaluation Examples
12. What is Recoverable Amount ?
13. When an Asset is disposed off.
14. Some Special Cases – Hire Purchase

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CA IPCC Clubbing of Income Notes

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This notes consists of

1. TRANSFER OF INCOME WHEN THERE IS NO TRANSFER OF ASSETS- SECTION 60
2. WHAT IS THE MEANING OF REVOCABLE TRANSFER OF INCOME
3. IRREVOCABLE TRANSFER OF ASSETS
4. TRANSFER IRREVOCABLE FOR A SPECIFIED PERIOD—SECTION 62
5. INCOME OF INDIVIDUAL TO INCLUDE INCOME OF SPOUSE: SECTION 64(I)(II)
6. EXAMPLE OF REMUNERATION PAID TO SPOUSE FROM THE CONCERN
7. INCOME ARISING ON ACCOUNT ASSETS TRANSFERRED TO THE SPOUSE OTHERWISE THAN FOR ADEQUATE CONSIDERATION
8. INCOME ARISING ON ACCOUNT ASSETS TRANSFERRED TO THE SPOUSE OTHERWISE FOR ADEQUATE CONSIDERATION SHALL NOT BE APPLICABLE IN THE FOLLOWING SECTION 64(1)(IV) - Examples
9. ASSETS TRANSFERRED OUT OF IDADEQUATE CONSIDERATION64(1)(IV) -Examples
10. ASSETS TRANSFERRED TO SON’S WIFE OTHERWISE THAN ADEQUATE CONSIDERATION SECTION 64(1)(VI)
11. INCOME OF MINOR CHILD- SECTION 64(1A)
12. INCOME FROM HUF-SECTION 64(2)
13.PROBLEMS -  SOLUTIONS
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CA IPCC Costing & FM Important Theory Questions For November 2014

These are the very Important Theory Questions in Costing and FM, for CA IPCC November 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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Set Off and Carry Forward of Losses

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This notes consists of
1. Meaning of Set-Off & Carry forward of losses
2. Procedure for setting off losses
3. Inter source adjustment
4. Inter head adjustment
5. Carry forward of losses
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Non-Integrated Accounts Notes

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This notes consists of
1. Learning Objectives
2. Non-Integrated Accounting Meaning
3. Principal Ledgers
  • Cost Ledger
  • Stores/Stock Ledger
  • Work in Progress Ledger
  • Finished Goods Ledger
4. Principal Accounts
  • General Ledger adjustment A/c
  • Stores Ledger Control A/c
  • Work in Progress Control A/c
  • Finished Goods Control A/c
  • Wages Control Account
  • Manufacturing Control A/c
  • Selling and Distribution Over Head Control A/c
  • Cost of Sales A/c
  • Costing Profit & Loss Account
5. Scheme of Entries
6. Reconciliation of Cost & Financial Accounts
7. Illustrations - Answers

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