In this Issue Bulletin_Dec_2020.pdf · CMA (Dr.) Sreehari Chava CMA Aparna Bhonde CMA Vandit Trivedi In this Issue • Preparing for Examination CMA P. D. Modh 4 • Preparing for

CMA VIDYARTHI – DECEMBER 20201

E-Bulletin Vol. III, No. 3 For CMA Students Only December 2020

EDITORIAL BOARDChief Editor:

CMA Ashishkumar Bhavsar

Editorial Team:CMA Arindam GoswamiCMA Chaitanya MohrirCMA Prashant VazeCMA H. C. ShahCMA (Dr.) Sreehari ChavaCMA Aparna BhondeCMA Vandit Trivedi

In this Issue• PreparingforExamination CMA P. D. Modh 4

• PreparingforExamination CMA Shradha Agarwal 5

• ChangeistheonlyConstant Mr. Parag Chandrakant Soni 6

• GuidelinesforstudentsappearingforGroupII,Paper9 CMA (Dr.) Hira Vyas 7

• TipsforsuccessinExamination CMA Deepak Ukidave 8

• CorporateLawsandCompliance CMA Bhagwant P. Bhargawe 9

• TipsforOnlineExamination CMA R. B. Kothari 11


From the Desk of Chairman . . . . . .-

DearStudents,

This ismyfirstCommuniqueaftertakingoverthechargeastheChairmanofWIRCinthemonthofSeptember2020.

The initiativesundertakenduring the last threemonthsaremainlymembersandstudentsoriented.WIRC always acts as a front-linementor to help the students and to nourish them as future-readyprofessionals.WIRChasconductedthefollowingonlineprogrammesduringthisperiodforthefirsttime:

• OnlineclassesforFoundation,Intermediate&FinalCourses

• OnlineComputerTrainingProgramme

• OnlineSoftSkillTrainingProgramme

• OnlineIndustryOrientedTrainingProgramme

• CrashCourseforIntermediate&FinalCourses

Otherimportantinitiativesconsideredforfast-trackaction:

• RevampofWIRCWebsite

• ImprovingSocialmediaactivities

• CreatingTaskforceforMembersinAcademicsforthebenefitofthestudents

• Scholarshipschemeforstudents

• EmploymentopportunitiesandCampusplacementinitiatives

Inadditiontotheabove,theInstitutehastakenmajorreformmeasuresintheformofconductingOnlineExaminationsforfirsttimeinitshistory.Thiswillenablestudentstoundertakeexaminationsthroughremoteproctoringsystemeitherthroughhomebasedorcenter-basedexaminations.Thiswillalsogivethemanopportunitytoappearintheexaminationsinasafeenvironmentandwillhelpthemtosaveprecioustimewithamplementalsatisfaction.

Friends,muchhasbeentalkedabouteffectivenessonlineexamforprofessionalcourseslikeours.Iwouldlike to bring tonotice thatProfessionalDegree like InsolvencyProfessional&RegisteredValuer aretakenbasedonMCQpattern.Myprofessionalexamexperienceisasunder:

Off-lineexam:CMA,CS

MCQpattern:CISA(USA)

Computerbasedexam:CIMA(UK)

MCQpatternComputercenterbased:InsolvencyProfessional&RegisteredValuer

OnlinefromHome:IndependentDirector

Havingtestedalltypes,withexperienceIcansaythatitdoesn’tmakeanydifferenceprovidedyouarestudyingwell.

Inthisissuewearepublishingthe“Tips for appearing Online Examination”withsubjectwisefacultyguidanceforthebenefitofthestudents.

IwouldliketosincerelythankCMAAshishBhavsar,Editorfortheeffortsputintoreleasetheeditionatappropriatejuncture.

OnbehalfofWIRCandmyownbehalfIwouldliketoofferBestWishesforyourforthcomingExaminationsandalsowishyouallaVeryHappy,HealthyandProsperousNewYear2021!!!

Withwarmregards,

CMA Harshad S. DeshpandeChairman, ICAI-WIRC.


Communique from Chairman, Students Members Co-ordination Committee..-

DearStudents,

ThisismyfirstcommuniquethroughWIRCE-Vidyathri,aftertakingovertheChairmanshipoftheStudentsMembersCo-ordinationCommittee,ofWIRC,inthemonthofSeptember2020.DuetolockdownonaccountofthepandemicsituationwecouldnotpublishtheE-Vidyathriregularlyin2020.

IamsureyoumustbebusyforpreparingforensuingExamination.TheexamsoftheInstitutearepostponedandarere-scheduledfrom3rdto10thJanuary2021.

IamgladtoinformyouthatWIRChasbeencarryingoutmanyactivitiestohelpstudentsintheirstudies.WIRChasorganisedOnlineCrashCourseforthestudents’appearingintheupcomingExaminationandhasreceivedoverwhelmingresponsefromtheentireregion.

FirsttimeWesternIndiaRegionalCouncilhasconductedonline100hrsComputerTrainingand3DaysSoftSkillsTraining, for IntermediateStudentsand7days IndustryOrientedTrainingProgramme forFinalStudents andmany studentshave takenadvantage of thesame.

Western India Regional Council coaching administration is planning to start onlineOralCoachingClassesforFoundation,IntermediateandFinalfortheBatchJanuarytoJune2021tentativelystartingfrom2ndweekofJanuary2021.

WIRC is also planning to bring out a lot of schemes for the benefit of the students likeScholarship&financialassistancefortheneedystudents.IappealtoallthestudentstogetintouchwithWIRCincaseofanydifficultyorforanysuggestionsforimprovement.

Hope,youhavepreparedverywell for thisexamination,and IwishBestof luck foryourexamination,

WishyouallaveryHappyChristmasandHappyNewYear.

CMA Arindam GoswamiChairmanStudents, Members Co-ordination Committee


Preparing for ExaminationCMA P. D. Modh

Mob.:9727767574•E-mail:[email protected] Subject: Cost Accounting, Intermediate Group-I

ExaminationwillbeonlinemodebutpatternofquestionpaperismoreorlesssamewhichyoucanobservefromMockTest,Followingare thepointswhichareusefulforscoringmarksinexam.

A Planning of Study1. Theoritical portion of the subject is required

to prepare very well which atleast counts 40%weightage.Alltheobjectivequestions(MCQ,True&False,MatchAwithB,filltheblanks)basedonfundamental understanding. Short questions andShortnotesrequiredclarityofconcepts.

2. When read study notes, keep in mind, you mayunderlinekeypointsinthestudynotesandthanmakeaseparatenoteandreviewit.Lengthydescriptionlikeintroduction,advantages,disadvantagesarenotmuchimportant.

3. Prepareanotesinbriefbyconsideringfourimportantpoints(1)Definition;(2)Formula/Format/Steps;(3)Illustration;and(4)Oneortwoapplicationsandlimitations.

4. MakealistofCAS(headingonly)

5. Note two or three important points in distinctione.g.JobEvaluationandMeritRating,BincardandStores Ledger, Standard Costing and BudgetaryControletc.

6. Write down list of formula of each chapter e.g. incontractAccount-amounttocarryinP&LA/c;P&LA/c.–NotionalProfitx1/3or2/3xCashreceived/Workcertified,MaterialCostvariance,MarginofSafety,Minimumleveletc.

7. Describe in brief concepts like -Opportunity cost,profitcentre,NotionalCostetc.fromstudynote1.

8. Practicethepracticalproblems.Coveragealltypeofproblemsineachtopicandavoidrepeatedproblemsofsametype.Solvethepastpapers.Donotleftanytopic.

Management of Time in Examination1) 180minutes, judiciously to be alloted. In first 60

minutesatleast40markscoveredand inrest twohoursfor60marks.Attemptfirstobjectivequestionsandparticularlywhereyouaresure.

2) Moderatesizesay4to6marksspendonminuteforonemarkasageneralrule.

3) Lastlargerquestionof8to10markstobeattempted.Thisquestioncanbecalculated.Beforefinalanswerarrived,separateworkingmustbedone.

4) Monitoryourprogress;keepaneyeonthetimeasyouworkthroughexaminations.

5) Speedupwhenyoufeelshortageoftime.

Management of stress in examManaging stress is essential at the time of examotherwisestresswillrobyourmarksevenyouwillhavewellpreparationofexam.Followingarethetips.

* Sleepwellandenoughatleastsixhours.

* Takelightfoodatthetimeofexam.Behydrate.

* Relaxbytakingdeepbreathing

* Haveamorningwalkorlightexerciseforatleast15to20minutestoboostyourbrain.

* Keepconfidenceinexam.Practicemocktest.

* Planning your study according to priority of thetopics.

Youcan’teliminatestresscompletelybutcanreduce.

----Best of Luck----


Preparing for ExaminationCMA Shradha Agarwal

Mob: 97697 26533 • E-mail: [email protected] Subject : Law and Ethics, Intermediate Group-I

DearStudents,

Withthehelpofmyenrichingexperienceofappearingfor examsboth onlineand offline in thepast years, IintendtoguideyouforyourupcomingDecember2020onlineexamsinthepaperofLawandEthics(Paper6)throughthisarticle.Herearesomeusefultipsthatyouneedtobearinmindwhileappearingfortheexams:

1. Understanding the concept or the provision isextremelyvital.Ifyouknowtheconceptverywell,itbecomesveryeasytoanswerthequestion.

2. Beingmentallyalertiscrucial.Mostofthestudentsremaininthepanicmodeandgetbaffledandblankafterreadingthequestion.Calmnessandalertnessisofsignificantimportancewhileunderstandingthequestionandansweringitaccordingly.Youneedtounderstandwhatthequestionisaskingandwritetheansweraccordingly.

3. It’sabsolutelyfineifyoudonotquoteaparticularsection.However,ifyouquoteanincorrectsection,itwillbehighlydisregardedandyoumayloseamark

orcreateawrongimpressiononthepapercorrector.

4. Formattingoftheanswerisimportant.Presentationmattersintheexam.Youneedtowriteyouranswerinsuchamannerthatevenalaymancanunderstandtheprovisionortheanswerafterreadingitandcancorrelateitwiththequestion.

5. Donot‘Rote’aparticularanswer.Itwillcertainlynothelpyou.Understandtheconcept ina logicalandsequentialmannerintheformofastoryoramovie.Thisapproachwilldefinitelybeuseful.

6. Evenifyoudon’tknowaparticularanswer,skipitandmoveahead.Donotspendmuchtimeoverit.Youcancomebacktoitlateronifyouhavetime.It’sabsolutelyfineifyoulose1or2marksratherthan8or10marks.

7. Attemptyourpaperwithconfidenceandclarity.Besurethatwhateveryouhavewritteniscorrect.

Lastly, ALL THE BEST!!!!

Cost and Management Accounting and Financial Management

CMA Shrinivas BalaMob.:9768861741•E-mail:[email protected]

Hello everyone. Warm greetings to all the studentsappearingInterDecember2020exams.

First of wish you all the very best for the upcomingexams.

This is the first time CMA Students are attemptingonlineexams.

Somebasicsforyoualltoremember

1) Concentratemoreontheformulaascomparedtothewholesum

2) Focusmore on the steps and small parts ofmainsums

3) Alsounderstandallthebasicconceptsofeverytopicverywellsuchasmarginalcosting,Standardcostingandratio,workingcapitalpart.

4) Theory part will add more value to your overallunderstandingaboutaspecificsubject.

Don’tworryabouttheresultsfocusonyourpreparationincompletemannerandgiveyour100%.

Onceagainalltheverybesttoallofyouappearinginterdec2020

Youallarefutureofourinstitute.

Dowellchamps.


“Change is the only Constant”Mr. Parag Chandrakant Soni

Mob.: 98798 50108 • E-mail: [email protected]: Direct Taxation Intermediate Group – I

Dearfriends,Iamgladtoputfingersonthekeyboard(earlierputpentopaper)forfirsteveronlineprofessionalexaminationconductedbytheInstituteoftheCostAccountantsofIndia.Friendsbelievemethereisnodifferenceinonlineorofflineexamination, only the way of submission technique isdifferent. So, keep yourself cool, be confidentwhatever youhavepreparedandgofortheexaminationwithconfidence.Earlier I used to write letters and post it, now I write incomputer and email it. And received within blink of theeyes.Inboththemethodstheobjectiveissametoconveythemessage.Butlateroneisfaster,saferandkeeptherecordandtrailswhichisaccessibleanywhereanytime.Theonlinetransactionismerelyaplatformnotthemethod.InpastIbuyandkeeptherailticketphysically,nowIbookonIRCTCandkeepsmsinmobile,butunderboththesituationthetrainissameinwhichIseat.WiththehelpoftheaboveexampleIurgeyoutofeelrelax,don’t scared, do not hesitate and embrace the technologywhichisfutureintheyearstocome.Ihavedividedmywriteupintotwoparts1. Howtoappearandsuccessfulinonlineexamination?2. Mypersonaladvicetofutureprofessionals.

How to attempt online examination professionally (may be online or offline)?Theinstitutehasallowedtwooptions:-a. Centrebasedonlinemodeb. HomebasedonlinemodeBe careful on following points while selecting home basedonlinemode:1. Internetconnectivitywithproperspeed.2. Electricityconnectivity.3. Planalternatesupplyforinternetandelectricity.4. Goodcomputersystemwithworkingperipheralsdevices

(keyboard,mouse,printeretc).5. Preferablyuseyourownsystem,ifnotthenensurethat

youhavepracticeditforsufficienttimeandawareaboutallthefunctionalities.E.galterandcontrolkeysinwindowsaredifferentinmacbook.Numbersandfunctionkeysarecombinedinsomelaptopswithadditionalfunctionkey.

6. Ensureprerequisitesoftwareswithrequiredversions.7. Separateplacewithpeacefulsurroundings.8. Placewithpropersittingandsufficientwritingspace.

Please take care of the following points in online examinations: -1. First go through the whole paper thoroughly. Being

onlinepaperwritedownbrieflyabouttheheadofincomeorsectionwithquestionnumber,asitisnoteasytoflippapersasdoneinofflinemode.

E.g.Question1isofsalarywithsubquestionofgratuityandleaveencashment.

Question4isofCapitalGainwithsection54and7marks.

Question5isofdeductionwith80Dand80Getc2. Do not use backward, forward and refresh button

unnecessarily.3. Long type questionswill be asked but answersneed to

beprovidedinmultiplechoiceformonly.So,chancesaretherethatyourrightworkingnoteswithwronganswercould not give you any rewards, whichwas possible inpaper/offlinemode.

4. Youneednottosubmittheworkingpapers.Itisadvisabletokeepyourworkingneatandcleanwithproperquestionnumbers,formats,table,legibility,etc.Chancesaretherethatyouneedtorefer/reconfirmtheanswersagain.

5. Likewise, if youmake some roughworking in computeitself, like excel. Do keep refence of the value and putquestionnumberasreference.

6. Question with reference to sections, case studies, keepnote of conditions, values, logic, reference, argumentsfor selecting the options.Many income tax sections arewritteninNormallyquestionswithnegativeanswerneedtobeunderstoodproperly.

7. Ensure to have calculator even though the same isavailableincomputer.

8. Likewise, if youmake some roughworking in computeitself, like excel. Do keep refence of the value and putquestionnumberasreference.

9. Being new way of examination ensure proper distancebetweenkeyboards,manualpapers,calculators,pensetcsonokeysarepressedunintentionally.

10. Readthequestiontwicebeforeanswering

My personal advice :1. Wakeupearly.Bepunctual.Beenergetic.Beethical.

2. Donotpanicofanysituationnoteventhecovid-19.

3. Professional examinationsaremore examinationof youwillpower,dedicationandhardwork.

4. Keepyourselfcoolandcalm.Youmaybelate,youcouldnotwakeupasper schedule, identity card is lost, bikeis punctured, pens, pencils, calculators arenotworkinganything.

5. Take extra time to travel and settle down during theexamination.

6. Bepositiveavoidnegativepeople.

7. Donotreadtillthelastmomentofexamination.

8. Donotdiscuss/debatebeforetheexamination.

9. WhenyoureceivethepapercloseyoureyespraytoGod,takeadeepbreath,andstart.

10. Take10-15secondsbreakaftereachquestion.

11. Relaxandenjoy,watchmovie,listentomusic,playgamefor some time even during the exams to keep yourselffresh.

12. Eatlessandhealthyfood.

13. PraytoGod.

Wish you all the best.


Guidelines for students appearing for Group II, Paper 9

CMA (Dr.) Hira Vyas

Mob.: 81200 12802 • E-mail: [email protected] Operations Management & Strategic Management, Intermediate Group-II

For the subject Operations Management & StrategicManagement, there are 2 sections. The first sectionis OperationsManagement and the second section isStrategicManagement. It is important that studentsgiveboththesectionequalimportance.Because,ifanystudenthaspoorpreparationineitherofthesection,itwillhaveabigtimebearingontheoverallscorethatthestudentscoreinthissubject.

It is worth understanding the weightages of eachsection.ThefirstsectionOperationsManagementhas70%ofthemarkweightandthesecondsectionStrategicManagementhasbalance30%ofmarkweightage.

The first sectionOperationsManagement has almost80%to85%ofpracticalsolvingproblemsandbalance20%to15%istheorycontent.WhereassecondsectionStrategicManagement has almost full 30% of theoryordescriptivetypecontent.Hence,itisreallynotverydifficult for a student to score really good marks inthissubject,whichcanindirectlyelevatetheiroverallpercentageinthegroup.But,thetruthismanystudentsare not able to score goodmarks in this subject andmanyevenfail!!!!.Followingarethereasonforeitherfailingornotscoringgoodmarksinthissubject:

1. Manystudents,completelyignorethetheoryportioninthefirstsection

2. The problems, when solved in the class by thefacultymaylookverysimple,however,studentsareexpectedtopracticemoreproblemonatopiceitherfromthestudynoteorfromreferencebooks,whichmanystudentsdonotdo.

3. Manystudentsrestoretolastmomentstudieswhichisnotagoodstrategy, ifoneaspirestoscoregoodmarks.

4. Many students do not attend lectures regularlyand have gap between lectures, in thisway, theyOperationsManagementhas70%ofthemarkweightandthesecondsectionStrategicManagementhasbalance30%ofmarkweightageanddonotgetthecompleteideaofthetopic.

So,ifastudentwishestoscoregoodmarksspeciallyinthispaper,theymustfollowfollowingguidelines.1. Givetheorypartoftheportionequalimportanceand

avoidstudyofselective topic. It isnice topreparethoroughlyforfewtopics,however,onecannotaffordto completely ignore few topics and keep them inoption.

2. Understandtheconceptofthetheorypartandthenreproducethesame,ifaskedintheexamination,inyourownwords.

3. For practical portion also, it is intelligent tounderstandtheconceptofthetopicandunderstand

thelogic,howtheproblemsaresolvedandwhatarethe sequence of the steps followed in solving theproblem.Inthisway,astudentwillbepreparedtoattemptandsolveanyproblem,ifaskedonatopic.

4. While giving exam, read the question paper verycarefullyandclearly.Donotassumethings.Followall the information and instruction stated in theproblem.Astudentisnotexpectedtoassumethings.Ifinanytopic,anyassumptionsaretobemade,thesameneedtostatedclearlyandstatedwhilesolvingtheproblem.However,ifinaproblem,certainfactsareclearlygiven,astudentcannotmakeassumptioncontraveningthefactsstatedintheproblem.

5. Goverysystematicallyandinastepbystepmannerwhilesolvinganyproblem.Short-cutscanturnouttobeveryriskyanddangerous.

6. Mostimportant,manystudentsforgettostatetheconclusionafterattemptingthepracticalproblem.Inmanypracticalproblems,thequestionwillstatethatyouarerequiredtogiveyoursuggestionoradviceordecision.Thestudent,solvestheproblemproperlyandcompletely,But,iftheconclusionisnotstated,theywillloosepreciousmarksunnecessarily.

7. Whileattemptingpracticalproblems,ensurethatyouareveryclearandsystematicinyourpresentationofsolution.Avoidstrikingoffmatters,scribblingandover-writing.

8. Before examination, ensure youhavepracticed asmanyproblemsaspossibleonatopic.

9. Many topics, such as assigning, transportation,PERT,CPMrequiresmakingofmultiplematrixes.Studentisexpectedtonumbereachmatrixclearlyandinapropersequence.

10.Donottakeanysteporexplanationforgrantedandignore.Astheflowofthesolutiongoesinyourmind,itisgoodtoputitonpapertoshowtheexaminertheclarityofyourthought,yourunderstandingof thetopicandyourbeingsystematic.Theseattributes,goalongwaythroughwhichyouimpressupontheexaminerandscoregoodmarks.

11.FortheStrategicManagementSection,thetheorygiveninthestudynoteisonlyindicative.Astudentisexpectedtodofurtherresearchonthesaidtopics,collectmoretheorycontentsfromnetandreferencebooks.However,thoroughlygoingthroughthestudynote and previous period solved question paperanswersareagoodapractice.

12.Attemptallquestionsanddonotleaveanyquestionunanswered.


Lookingattheglobalpandemic,ourInstitutehastakenboldstep towelcome theNewNormal in the formof convertingthephysicalexaminationtoonlineexamination.Thestudentsshouldmentallypreparethemselvestofacethisnewchallengeandachievegreatsuccessintheonlineexamination.

Paper 20 of Final Examination has 2 sections: Section Aon “Strategic Performance Management” and section Bon “Business Valuation” each carrying 50 marks. Whilepreparingfortheexaminationinthispaper,studentsshouldkeepinmindthefollowingpoints:

1. Section A consists of Theory and practical problems,whereassectionBispre-dominantlynumerical.Notopicshouldbe left for option.100%coverageof the syllabusismandatorybecausetheposition/sequenceofquestionscoveringcertaintopicsisnotpre-determined.Hence,ifastudentomitscertainchapterwhilestudying, itmaysohappenthatthechoiceofquestionsislimited.Avoidthissituationbydoing thoroughpreparation ineverysinglechapter/topicinthesyllabus.

2. Basedonstudyofpast3years’questionpapers,youwillfindthatgenerallypracticalquestionsaskedinSectionAareonfollowingtopics:

• FinancialRatiosandDu-PontAnalysis

• Industrial Sickness Prediction Models (Altman’sMultipleDiscriminantFunctionviz.ZScoreModel)

• ApplicationofDerivatives&IntegrationinDecisionmakingw.r.t.Profitmaximization/Costminimizationindifferentmarkets.

• StatisticalmethodsofDemandForecasting

• StatisticalQualityControlChartswith3-sigmalimits

Youmustpracticenumerical questions onpaperby solvingthem step by step in a disciplinedmanner. This habitwillboostyourconfidenceintheexamination,particularlyintheonlinemode,whereyouhavetotypeoutatleastmajorstepsineachproblem.

3. Theory topics covered in section.A generally test basicconceptualunderstandingofthestudentsinareaslike

• SupplyChainManagement(SCM),

• CustomerRelationshipManagement(CRM),

• BalancedScoreCard(BSC),

• TermsusedinEnterpriseRiskManagement(ERM),

• Benchmarkinganditstypes

• PerformancemanagementandPerformanceAppraisal

Youmustwritespecificanswerstotheoryquestions,preferablyin bullet points to highlight on key words. Avoid writinggeneral/ vague answers which are tangent to the originalquestionasked.Bookishanswersmaynotbe reproduced intheexamination.Instead,theconceptaskedinthequestionpaper should be explained in a simplified manner usingtechnical/financialterms,whereverneeded.

4. PracticalproblemsonValuationaskedinsectionBshouldbesolvedinamethodicalwaywithstructuredapproachshowing step by step calculations.Working notesmustbe prepared separately and shown distinctly in theanswers. You are aware that the valuation exercise isbasedonunderlyingassumptions.Hence, thenecessaryassumptionsmadewhiledoingthecalculationsmustbementionedcategoricallyintheanswer.

5. Present the statements in tabular form/ columnar formwith proper workings, so that there is an audit trailof complete thought process while solving numericalproblems.

6. PracticalTopicscoveredinSectionBonBusinessValuationgenerallyincludefollowingareas:

• EconomicValueAdded(EVA)/MarketValueAdded(MVA)

• ValuationofIntangibleslikeGoodwill/brand

• DiscountedCashFlow(DCF)techniqueofBV.

• Valuation in context ofMergers & Acquisitions (M& A), synergy gain, cost of acquisition, purchaseconsideration,exchangeratiodetermination,etc.

• Valuation ofBusiness /EnterpriseValue / intrinsicValueofEquityshare

• ValueofRightsissue

• ValueinUsefortheplant

• ValuationofBond

Generally,thereare3or4or5sub-questionsattachedtoaquestion,whereinthecorrectapproachhastobeadoptedbythestudentswhilesolvingsuchquestions.Answertopart(ii)maybebasedoncorrectcalculationoffiguresinpart(i)andsoon.Consequently,ifthedirectiongoeswronginsolvingthefirstsub-part,thestudentmayloseoutontheentirequestion.To avoid such incidence, repeated practice of numericalquestionsonValuationmustbedone.

7. MultipleChoiceQuestionscarry2marksoutofwhich1markisforthecorrectanswerand1markisforexplanation/justification/logicalreasoning/stepsincalculation.Youarerequiredtoreadthequestioncarefullybeforefirmingupthecorrectalternative.

8. Maintainthespeedoftypingtheanswers,sothatthereisnoshortageoftime.Thestudentsmustattemptentire100markspaperduring2hours45minutes,sothatlast15 minutes are left for tying the loose ends. This willbe achieved by solvingmock test papers posted by ourInstituteonstudents’portal.

Friends,thispaperisscoringsubjectduetomoreweightageonpracticalproblemsandhence,adecidingfactoringettingmore than requisitemarks inaggregate to clear the group.Students are advised to keep their mind balanced andfocussedandsolvethispracticalpapertoscoregoodmarksintheexamination.

Wish you good luck for the examination.

Tips for success in ExaminationCMA Deepak Ukidave

Mob: 98193 05049 • E-mail: [email protected] Strategic Performance Management & Business Valuation, Final Group-IV


Inthischangedsituationofepidemicshavinglockdownsateverylevel,itisdifficultforstudentstoconcentrateon theirstudies.Theyhavebeendoing their learningwith social distancing. Institute suggestedme to givesomeTIPSpointsforstudentstogetgoodmarksintheonlineexaminationforlawsubject.

Consideringthesame,Ihaveenumeratedsomepointsin the attached paragraphs. However, these are mysuggestedpointsandcanbetakenonlyasasuggestionandnotafinalinanyandeverysituation.

Iamsurethesewouldhelpstudentsinpreparingwelltoscoregoodmarks.

How to get good marks in on line examination of Corporate Law and Compliance1. Mention of correct section of laws: first and

foremostimportantismentioningcorrectsectionofthelaw.Mentionofwrongsectionresultsincreationofbadimpressionaboutastudent.Thereforeifyouare hundred percent confident then only make aspecificmentionofthesection.Youcandescribethemainthemeofthesection.

2. Mention of case laws:Next in lawpaperswhatis most important is mentioning the Case Lawsbecausethatgivesweightagetoyouranswers.Youshouldnotonlymentioncaselawbutalsoexplainthecaselawtotheexaminersothatexaminercarriesaverygoodopinionaboutyourknowledge.

3. Confidence and accuracy:Weshouldfirstalwaysattemptthosequestionsinwhichwehavehundredpercentcorrectanswers.Inthismannerweshouldfollowasequenceofansweringquestions.First3to4questionswhichweareansweringshouldbesuchwherewehavegotcorrectanswers.Ifweanswerinthismanner,wefeelhappyandautomaticallyourconfidencelevelattheexamgoesup.

Youmayexperiencethatifyoufollowtheabovetip,youwillbeabletoevenanswerthosequestionswhereyou do not have proper answers in the beginningwhen you first viewed question paper. But sinceyourconfidencelevelhasgoneup,itwillhelpyoutoanswerthequestionforwhichyouarenotconfident.

4. Time management and covering all questions:Alwaysrememberthattimemanagementisthekey.Ifyouansweronequestionformorethanthetimeallottedtoityouwillnotbeabletocompleteyourfullpaperintime.Ifyoumissonefullquestion,youwilllosefull14or12marksofthatquestion,butifyouwritemore foronequestionyouwillhardlyget 3 or 4 marks more. Which means you are aloserthere.Thereforealwaysmanagethetimeand

Corporate Laws and ComplianceCMA Bhagwant P. Bhargawe

Mob.: 97695 40878 • E-mail: [email protected] Subject: Corporate Law and Compliance, Final Group-III

completefullpaperandensurethatnothingisleftout.Allquestionsmustbeanswered.

5. Description of case laws:NextlineinlawpaperwhattheexaminerwantsiswhatyouhaveunderstoodaboutthatparticularCASELAW/topic.Thereforeyoushouldexplainwhatyouhaveunderstoodratherthan simply reproducingwhatever is given in thebook.

6. Objective Question: Give full weightage to firstobjectivequestionof20marks.Itisshortandyoucan finish it in 20-25 minutes but can secure 20marksleavingtimeforotherdescriptivequestions.You shouldmaster this because this one questionbringsyoutoonefifthofyourtotalmarks.Ifyouarethoroughwithitfullyautomaticallyyourconfidencelevelwillgoup.Nevereverleaveit.

7. LookattheweightagegivenbyInstitutetodifferenttopics/lawsandaccordinglyprepareyourself.Keepquestionsaskedinpreviousexamsbeforeyou,beforeyoustartstudies.

8. Thorough Preparation:Whenyouareappearingfortheexamappearwithfullpreparationandplaninsuchawaythatyouwillcleartheexamintheveryfirstattempt.

The reason behind this is because when we arepreparingforthefirsttime,weareabletoreproducemaximumoutofthatwhatwestudybutifyoutakeitcasuallyandsayDekhajayega.KyahotaHaii.e.casually.Thenwedonotwritetheanswersproperlyandare required to reappear.But remember thatin second or third attempt, Law of DiminishingMarginalReturnsappliesininourstudiesThereforewearenotabletoreproducethesamepercentageofwhatwehavestudiedinthesecondattemptorthirdattempt.Thereforepreparewith100%preparationandfacetheexam.Insuchacasetherearechancesthatityouwillpassthegroupandbeasuccessfulcandidatewithflyingcolours.

Please remember to clear the exam there are noshortcuts. Never believe in people saying only dosomuchand that isenough foryou topass.Oursisaprofessionalexamandnotauniversityexam.Therefore digest this difference and accordinglyapproachtoyourstudies.

9. Format of question paper:LookattheFormatofquestionpaperwhichismostimportant,weshouldwethoroughwithit.Thendecidewhichtopicsyouwill thoroughlymaster and which topics you willpreparemoderately.

10.Give proper rest to brain.Youshouldhaveproper


restof7.5to8hoursdaily.Yourbrainwillhelpyouto give that topic which you have read some 3-4monthsback.Itwillhelpyoutoreproducethatwhichyouhavereadlongtimeback.Butforthatwhatismost important is giving rest to thebrain. Ihaveseenmostofthestudentsdoovernightstudies,readevenintheexaminationhall,eventill theanswersheetsaredistributedinexamhall.Thisisabsolutelywrong. You should not unnecessarily bother yourbraintoomuch.KeepallyourstudiesasideatleastonehourbeforeLawexam.

Inasystematicmannerletitdoitswork.Ifitgetssomerestitcanhelpyoutoansweryourquestionsproperly.Don’t get frightened by looking at otherpeoplefortheirpreparation.Youareappearingyourpaper,yourexam,sothereforedonotcareforothers.Becalmandquiet.

PraytoyourGodandrequesthimtohelpyoutoclearyourexam.Beconfidentandnotshaky.

11.When you are preparing for examination, giveinstructionstoyourbrainthatIamshortoftimeandthereforepleaserememberwhateverIamreading.

Readslowlyandtrytorecapitulateattheendoftheday.PeoplesayIread20pagesper1hourbutIbelievethatitisamockeryofthestudy.Readonly8pagesor10pagesbutreadwithfullconcentrationsothatyouunderstandthem,digestthemandrememberitforever.Nowthatyouarehavingholidaysorworkingfromhomeyouhavegot timewhich ismore thanwhatyouusedtohavewhenyouareworking.Pleasemakeafruitfuluseofthisopportunity.Whateveronegrouportwogroupyouareappearingkeeptargetthatyouwillcovereverysubjectatleastfor2andhalf hours every day. This is required and mostimportant.Whiledoingcalculationpleasekeep2-3daysbeforetheexamfree.Becauseyouneedtokeepthosedaysonlyforthefirstpaper.Alwaysrememberthatyoumustdoyourfirstpaperverywellbecauseitisyouropeningbattingjustlikeinacricketmatch.Ifyourscoreismoreautomaticallyyourconfidencelevelwillcover.Andthisisamustforclearingtheprofessionalexam.

12.Study one subject maximum for 2.5 hours at a time and not more.

While preparing for the exam, I always say onesubjectshouldbestudiedformaximumtwoandhalfhours andhave a break thereafter at least for 15minutes.Duringthese15minuteshaveteacoffee,some snacks look at your WhatsApp or listen tosongsoranyotherentertainmentanddon’tlookatthebooks.Thenleavethatsubjectandtakeanothersubject.Likethatyouhavetochangesubjecteverytwoandhalfhour.Aftertwosubjectsthereshouldbeagapofatleasthalfanhour.Duringthisbreakhaveyourlunch.EvenIwouldgofurtherandsaythathaveanapof10-15minutesbecauseyouhavepreparedandyouaretired.

Rememberonethingandthatisstudyofonesubjectformorethantwoandhalfhourswillleadtodrainingoff ofwhat youhavedoneafter 2 andhalf hours.

Thereforegiveitabreak.

When you are starting a fresh start with thatsubjectwhereyouarenotconfident/notprepared.Thisisbecauseyouhavetakenrestandyourbrainis fresh.After thatagainonce twoandhalfhoursareoverhaveabreak.DuringthisbreakhaveyourteacoffeelistentomusiccomaseeyourWhatsAppmessages.Therearestartsubjectwhichyoulikesothatwhateveryoustudyyouareagainfresh.

Inthismannereverydayyoushouldplanyourstudies.Subjects like accounting financial managementwhich are tough you should start in themorningwhenyougetupbecauseyouarebrainisfresh.Sothatsothatwhatyoudoisdifficultisregisteredinyourbrainandyouareabletounderstand.

13.Trytoreadyoursomenotesseepreviousquestionpapers and answers from ICMAweb site or fromscanner

Never believe in overnight studies reading onlyone subject for the full day without any breaks.Remember if we are given daily same breakfast,lunch,wegetboredfullstopsameisthecaseofourbrainhealsoneedsvariety.Andthatisthatyouaregivingbychangingthesubject.

14.Neverthinkthatyouarenotintelligent,youdon’trememberthethings,andsomeofthesubjectsareverydifficult tounderstand.This isbecausewhenyouhavetakenadmissionforthisprofessionalexamyouarealreadyintelligentthenwhydoyousaythatyouarenot.Neverundermineyourself.Remembersome people understand in one reading whereassome people understand in two readings but thatdoesnotmeantheyarenotintelligent.

15.Bepromptandactiveinansweringquestions.Sincetheexamwillbeonline,pleasepractiseyourselfonComputersothatyourfiguresarehabituatedastowhat alphabet iswhere inComputer andLaptop,insteadofsearchingitallover.

16.Believeinyourself.KeepatargetthatIwanttofinishmyexamandgetthedegreeinYearJune2021/22/23asperyourgroupsremainingandplanaccordingly.

Remembernothinghappensovernight.Itisalwaysthathardworkonlypaysandnotbyjustdreamingofsuccessbutworkingforsuccess.

17Rememberthatsuccessfulpeopledonotdodifferentthingsbuttheyplananddothingsdifferently.ThisisawaytoSUCCESS.

There cannot be a SUCCESS without U

Wish you best of luck for the on line examination.

DearStudent,

ClickonthebelowgivenlinkforRevisionaryBooksforFoundation,IntermediateandFinal.Itisfree,nocharges.

https://www.icmai-wirc.in/revisionbooks.html


Tips for Online ExaminationCMA R. B. Kothari, B.Com., ACMA

Mob.: 99252 510288 • E-mail: [email protected] Subject: Financial Accounting, Paper -5

Asperthedecisionofcouncil,thistimeExaminationsofintermediateandfinalcoursewillbeheldonline.Thisisaverybolddecisioninlinewithcurrentsituationandalsorequirements.Thepatternofquestionsisalreadyavailableinmocktestpapers.Tomyknowledgeweightagewillremainsameasmentionedinthestudynotes.Studentsshouldnotfeelanysurpriseorfearofonlineexam.Wellplanpreparations,selfconfidenceandhardworkhavenooption.MyTIPSforsmooth,easyandstillscoringhighermarksareasunder.ThesuggestionsarespecificallyforthesubjectFinancialAccounting-Paper5 intermediate but can be followed for other subjectsalso. As the paper 5 financial accounting is the firstandopeningpaperofintermediate,preparationsmustbeexcellentasthispaper’sperformancemayaffecttheperformanceofremainingpapersalsoaslikecricket.

1. As the examination is online, now the questionsearlier of 16markswill benowdivided in to3 to4subquestionsofabout3to5markseach.Sodonotthinkthatonlineexaminationisnewmethodorstyle.Donotgetpanicwithunnecessarypressurethatwearefacingitforthefirsttimeonline,whatwillbetypesofquestionsorstyleofpaper.Donotcarryunnecessarystress.

2. Prefer exam from examination hall rather fromhome.Ifyouhavealreadyselectedfromhome,ensurethat your system is fully matching the technicalrequirements.Fullychargeyourlaptop/systemsandalsoextrapowerbankbeforeexamstarteverydaytoensurecontinuousanduninterruptedpowersupply.Alsoensureinternetconnectivityfromtwosources.This should be ensured practically for three /fourdaysbeforeexamtosatisfyourselves.

Wake up early in themorning during exam daysandreadybeforehalfanhourofexamwithallprerequisites like admit card, pen, pencil, computersystem,connectivity,calculatoretc.

3. Astheexamisonline,concentratemoreonformula,principles,applicabilityofAS,INDAS,orAccountingConceptorAccountingConventions,stepsrequiredtosolvethequestions.

4. There are objective questions of about 25 to 30marks,firstattemptobjectivequestionstoincrease

your confidence. Do not memorised theoretical,long questions like definitions’, advantages,disadvantages, characteristics, objectives, shortnotes,differences.Atthesametimeensurethatyoumustunderstandinprinciplebasics/conceptsofthisterminologytoanswerMCQ.Sonowtheexamisnotofmemorytestbutitismoreofapplicabilitytest.youneedclearityinyourthoughts.

5. Attempt all the questions which you feel that youcansolveeasily.Ifyoufeelthequestionisdifficult,leaveittimebeingandattemptlaterwhenyouhavesurplustimewithpropertimemanagement.Donotallottoomuchtimetolessmarksquestions.

6. Donotattemptthequestionsgiveninoption.Replyonlyquestionswhicharemandatory.

7. Keep rough papers for working with you. Alsoworkingshouldbeinaneatandreadableconditionas sameworkingmayhelpyou to resolveanotherproblem particularly in case of preparation offinancialstatementsofprofitorientedorganizations,non-profit organizations and also for partnershipwherenormallyyoumaybeaskedtofindoutprofit,capitalofproprietors/partnersorclosingbalancesofdebtors/creditorsorfixesassets

8. Practicemoreoncomputerasthefinancialaccountingisasubjectswith100%practicalsums.Thissubjectshouldnot be read, itmustbepractisedas if youare appearing for exam. Thiswill definitely boostconfidenceofstudents.Practicedailytosolvemocktestpaperstoincreasetypingspeedinansweringthequestionsoncomputer.

9. AsthequestionwillbeofMCQtypewithreply,theselectionofcorrectreplywillbelimited.

10.Donotforgettopress ‘submit’buttonat lastaftersatisfyingyourselfthatyouhaverepliedallrequiredquestions.

Wish you all the students a best luck and request toappearwithfullpreparationsandconfidence.



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Documents

In this Issue Bulletin_Dec_2020.pdf · CMA (Dr.) Sreehari Chava CMA Aparna Bhonde CMA Vandit Trivedi In this Issue • Preparing for Examination CMA P. D. Modh 4 • Preparing for