1. read the selected cases book 2009, and supllementary cases issued by ICAI which will amount to 5-10 cases. IN total 60 cases. Please know all the cases thoroughly with u reproducing the same words as there in the book for safety.Marks 25-30 straight.
2. Thoroughly study Supplementary study material, the amendments in excise act, customs act, finance act for service tax and central excise tariff act. Don't try getting into the latest circulars and notifications, may not be of much use.
Marks 15 straight.
3. 6 types of valuation
a) Excise b)SSI c) Cenvat d) Customs E) Service Tax f) VAT
Please be thorough in all these aspects before getting into learning others aspects of the subject.
Marks 30 straight.So 1+2+3= 70-75 marks from the three mention above.
If you have written everything properly, 60 is assured.
Things which need to be studied over and above this are.
1. Taxable services (5 marks)
2. Remaining part of VAT (5 Marks)
Total covered till now is 80-85 marks
Beyond this, please give a reading of all the chapters in the book the way you readsidney sheldon or Harry potter not more than once before the exam.This would enable you to attempt 10 marks more helping you get 3-4 out of it. For you to tackle that, please take the smallest book available in the market to know what are the procedures being followed, that should be sufficient to attempt 95-100 marks and getting minimum 60 and maximum 72-75
PS: My friend followed the same strategy last time and he told me to do it. I checked with all previous papers and then decided upon doing this. He scored 83 in may 2010, final and was all india 26 rank holder
Information Systems and Control Audit
1. SDLC and Control have been amended. Please do expect a good amount of questions from these two chapters. Traditionally controlling alone has been tested for 15-20 marks wth SDLC forming a very less importance in new syllbus papers. Since SDLC has been amended, please study this topic thoroughly from ICAI MODULE ONLY. SDLC ( I expect 10 marks minimum this time)
2. Thorough Knowledge of ERP, standards and act will give 30marks.
3. For the Information technology amendment act, please study that from ISCA practise module issued recently by ICAI.
4. Remaining Risk, Testing, BCP, policies form the remaining 30 marks. Its not difficult to identify what to do in ISCA as there is no confusion.
I generally dont recommend books as comfort factors differ. For ISCA, I feel, books play the most important part of the approach. Dinesh Madan for Chapter 1,4,5,6,7,8,10
ICAI module: 2,3,9
ICAI Practise module: IT amendment act
This Practise module of ICAI prepares us well for exams. please go through all the questions and apply ur knowledge on those questions. Every time ICAI introduces a new material for the student fraternity, most of the questions come from that book. ICSA practise module is the new book released. please get that book and read all questions. A few might come in the paper
Its always hard work which pays high rewards absolutely, but smart work pays higher rewards relatively. For eg: Spending 100 hours might give u 75, but spending 50 hours the smart way assures 65 for sure. Traditionally and even in present, the pattern of testing has been like this Consolidation - 16 marks
Amalgamation - 16 marks
Valuation - 16 marks
Others - 52 marks
Total - 100 marks
The break up mentioned above is the trend and its been followed sincerely with a slight relaxation in the concept of valuation which is tested in alternate exams in the recent papers. Now how to go about things,
If u take any text book, consolidation, amalgamation and valuation form 75% to 80% of the volume and time taken for preparing for accounts. Others which form only 20-25% of the volume and time are the ones which are helping you for 52 marks. Ranking priority and from where to study....
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