FAQ

·          Please refer to Plans 1 and 2 outlined in Chapter 3.  

·          After qualifying in the CPT Exam, any delay in registering for IPCC, will delay your career and affect your schedule in getting oriented towards, attending Infotech Training, attending Coaching Classes for IPCC etc. Similarly, register for Final & Articleship training, immediately after IPCC results.  

·          Register early and adhere to the timeframe suggested in this Guidance Note.

·          “Big” or “Small” is only in perception, and not in practice.

·          In any CA Firm you join to do your articleship training, you have to utilize the opportunities available for learning. There is scope for learning at every CA Firm, irrespective of its size, if you have the right “attitude to learn”. “What” you learn is more important than merely “where” you learn!

·          Whether you audit the accounts of a “Big” Public Limited Company with a Turnover of Rs.500 Crores or a “Small” Proprietary Concern with a Turnover of Rs.45 Lakhs, you have to still apply all the accounting principles / audit procedures properly in either case.

·          Whether you verify a Purchase Invoice of a value of Rs.36 Crores or Rs.36,000, still you have to consider the audit / verification techniques and apply them properly. Amount involved in verification does not matter, knowledge alone matters.

·          Forget the concept of “big” or “small”. You have to join a CA Firm where you can get along with your CA Principal, and learn the practical aspects of work without creating a hindrance to your exam preparation. Remember, Theory and Practical Knowledge are both important. One without the other will not make you a complete Chartered Accountant!

During the period of articleship training, the students should learn the practical aspects of work in the following areas –

Coaching Classes are not compulsory. Please note the following points –

·        Coaching Class facilities are not available in all places across the country. Students from places without any coaching class facilities also pass the exams with good marks.

·          Cost aspect of coaching classes including cost of staying in a city for about 4–5 months may not be affordable to all students.

·          Classes are a phenomenon of the recent past, say about 10 years. People have been successful in the exams even before that time.

Attending Coaching Classes provide the following advantages –

·         to assimilate the new concepts / principles / procedures, etc. much quickly than by way of self–reading.

·          to improve the students’ insights on various concepts / subjects,

·          to provide conceptual clarity and eliminate doubts,

·          to improve confidence levels,

·          to learn the new concepts / procedures procedurally and systematically.

So, it is advisable to attend classes for various subjects. For effectively utilizing the classes and obtaining real advantage to face the exams with confidence, the student is advised to adhere to the Time Schedule for attending classes, as specified in Chapters 3 and 4.

Coaching Classes help in accelerating the learning process. However, Attending = Learning. Being attentive at classes will lead to success.

Be Early Birds for Classes: It is advisable to join and attend classes immediately after registration for IPCC and Final, to obtain the following advantages –

·          It would enable the student to know the subjects, topics and study areas, well in advance and help him to plan his overall study.

·          It would enable him to prepare in a systematic fashion and complete the plan suggested by this Guidance Note.

·          It would give him the necessary confidence and mental strength to proceed systematically towards his goal.

·          It would avoid last minute tensions and doubts.

·          It is advisable to attend classes early as described in the previous question.

·          Attending Income Tax classes only just before the exams, serves no extra purpose.

·          One can keep track of latest amendments, Court decisions, etc. by contacting the Teacher / Coaching Institution even after completing the classes at an earlier session.

·          Note that Law does not change, only certain provisions are amended. The basic law remains the same.

·          The student may be referring to descriptive–type subjects as Theory Subjects, e.g. Auditing, Corporate Law, Information Technology, etc.

·        It is for the student to decide whether he has to attend classes for any subject. The advantages of attending classes are described in Question 5 above.

·          In case the student is able to understand the concepts / procedures with the help of the Reference Book itself, attending classes need not be necessary.

·          Short Term Courses just before the exams should preferably be avoided since it will involve diversion of precious Revision Time available at that time.

·          However, if the student has not attended any classes at all earlier and he is badly in need of inputs / motivation from an external source, short–term courses may be helpful.

·          Attending any classes (whether regular session / revision classes / crash course) should be purposive. The student cannot gain from a classroom, if he attends the class with a negative mindset.

·          Use one Reference Book per subject. It should be noted that reading many books will not be beneficial for a student in terms of time, cost and incremental benefit. It is always advisable to dig deep than dig wide.

·          Padhuka’s Publications are available for all papers at the IPCC / Final Level, and can be used for assured success in the Exams.

·          Become a master of the contents available in Padhuka’s Publications, by repeated reading and revision.

·         One can refer to magazines, newspapers, journals, etc. only if one possesses the legendary “hamsa” bird’s qualities of separating milk and water. There is a need to differentiate between “what a student wants to study” and “what a student must study for success in the CA Exams”.

·         Read only what is required for your knowledge at that particular level, i.e. IPCC / Final. Do not bother about other things that are outside the scope of your syllabus at that particular level.

·         Even at the Final Level, reference to all magazines, newspapers, journals, etc. is neither possible nor desirable. Be confident and have faith in your Reference Book!

·          Please refer to the answer given to the earlier question. It is advisable to get the latest in laws from concerned Teacher / Coaching Institution, rather than going through voluminous information contained in the Law Journals.

·          Sourcing the condensation of Latest in Laws is the most optimum course of action from the exam viewpoint. Your Tax Teacher will provide you with the necessary inputs to meet the exam requirements.

·          Concept or knowledge is not foreign.

·          In case the student can have access to such foreign books much before the exams, he may refer them. Otherwise one needs to be strong only with the concepts.

Night reading will be advantageous only –

·          If you are used to late night reading say, from Class X onwards.

·          If your work schedule demands that you spend time only in the night.

·          If you are able to “concentrate” and retain what you read in the night.

·         Referencing should be eliminated during revision stage. Using a completely new book is not advisable at the stages of revision.

·        Use one Reference Book per subject, that will maintain and improve your level of confidence. Remember you are writing an examination, not conducting any research!

Group Study is advisable only if it satisfies all the following conditions –

·          Small and cohesive group of students,

·          Specific time for group meetings with fixed agenda,

·          Single–focus on examinations and learning only,

·          Attitude to foster mutual benefit and not to display one’s superior knowledge.

Group Study should not be the name given for talking and discussing “sweet–nothings”.

Marks are awarded based on “what you write in the answer paper” and not “where you write the answer paper”. There is no locational advantage for any specific centre / city.

Evaluate whether the Model Exam is really a “model” one, with the following criteria –

The Model Exams may be taken up, only if the answers to all the questions are on the expected lines given above. It may be noted that Model Exams are purely optional and not compulsory. As an alternative measure, the student can determine the standard time for every question type and practice writing in his own place, and evaluate himself in an unbiased manner!

·        To write group–by–group or both groups is based on the student’s level of preparation.

·          If you have systematically prepared for all subjects based on the time schedule given herein, you have to opt for both groups in a single sitting.

·         In case you feel that both groups are not manageable in a single sitting, group–by–group appearance may be adopted.

·          However, appearing both groups in single sitting will be advantageous in margin cases as the rules of inter–group set–off / carry–forward of marks will be applicable.

·         The answer is one based on convenience. There are no extra marks or adverse marking for any specific type of pen. Use ball–point or fountain ink pen, whichever is comfortable to you.

·          Use Black or Blue Colour Pen for writing answers. You may use Black lead pencil for underlining important points, drawing brief diagrams, etc.

·          Do not use any other colour sketch pen / crayon pencil / highlighter pen / marker pen, etc.

·          Please remember that this is a normal and natural feeling before the exams.

·          Learn to relax by taking a small walk in the mornings or evenings.

·          Get adequate sleep and take rest.

·        Talk to persons whom you can trust and who will instill confidence in you. [Do not include your friends / colleagues  / seniors in office in this list for talking purpose]

·          Pray God (depending upon your beliefs) and leave for the exam centre with confidence.

·          Marks are awarded on the basis of the effectiveness of communication in the answer sheet. The handwriting should be legible and readable by a normal person.

·         If the Paper Valuer is not able to decipher / understand the student’s handwriting, marks cannot be awarded.

·        The Question Paper only stipulates the number of questions that have to be answered. It does not stipulate the order of answering them.

·         As a thumb rule, you can give answer to a question that you know very well first before answering other questions. This will create a positive feeling in you as well as in the Paper Valuer.

·          Ensure that you give the answer to all sub–parts of a question continuously.

·        The Compulsory Question may also be answered after certain other questions are answered. It is not necessary to answer that question first, particularly when you are not sure of the answer / approach.  

·          Further, even if the Compulsory Question is not answered, the Answer Paper will still be evaluated for the other answers, and marks will be awarded.

·          If it is an application of theory, i.e. numerical question – you may write certain steps or relevant formula, which will fetch you step marks.

·          If it is a theory question – you may choose to leave it unanswered rather than bluff something irrelevant.

·         Reference to Sections, Case Laws, Accounting Standards, Auditing Standards, Guidance Note Paragraph Numbers, etc. may be made only if you are sure of the same.

·         Avoid quoting the wrong Section Number, indicating an “imaginary” Case Law, etc. 

·        Deliberately writing the wrong Section Number, etc. will create a negative impression in the Paper Valuer.

·         Extra marks are not awarded for the correct Section Number unless the question states so.

While some introspection may be required, brooding over the performance in the first exam is not advisable. There is every possibility that you may end up passing in that first paper. Hence, read well for the other exams and write them with confidence.

·          Fortunately (or unfortunately), the ICAI has not appointed either yourself or your “learned” CA friend as the Paper Setter or Paper Valuer. Hence, let them do their duties, while you do yours.

·          Leave the exam centre and reach your place safely. Take adequate rest and prepare for the next exam. You cannot reverse or undo any process once the Answer Paper has left your hands.

·          Visit old “non–CA” friends and relax.

·          Watch a good humorous movie and / or cartoons.

·          Sleep adequately and take rest for a few days.

·         Parallel Pulling View: One should pull all ropes simultaneously. It is not advisable to study subject–by–subject since there will be a big time–gap between two revisions of that subject.

·         Sequential Pulling View: However, if you are comfortable with sequential reading of subjects from an early point of time, it may be continued.

·        Luck relates to events which cannot be explained. In the CA Exam, the factors contributing to a student’s success include – (a) Adequate preparation, (b) Self–confidence, (c) Hard Work and Effort, (d) Proper Practice, (e) Calm frame of mind in the Exam Hall, and (f) Nice presentation of answers. 

·         Luck may be one of the secondary factors. However, Luck does not guarantee success by itself. To succeed, one has to concentrate only on the primary factors listed above. Where the primary factors are favourable and dominant, secondary factors lose their relevance.

·         Succeeding in the exam without any of the above primary factors (if it happens) may be attributed to Luck. But this cannot happen in every student’s case!

·          Preparing well for the Exam in all the topics = “Effort”.  In the Main Exam, if a question is asked from topics that the student has prepared very well, it is “Reward for Effort”. This reward may be referred to as “Luck”. [Reward is given only if effort is put in first!]