Ace Cpt Icai

7/30/2019 Ace Cpt Icai

1/38

Board of Studies

The Institute of

C h ar te r ed A cc o un t an t s o f In di a

A S ta t u to r y B o d y e s ta b li s h ed u n d er a n A c t o f Pa r li a me n t

PTC

How to FaceCommon Proficiency Test ?

How to FaceCommon Proficiency Test ?

A Matrix of Winning StrategiesA Matrix of Winning Strategies


2/38

C h ap t er 1

C h ap t er 2

C h ap t er 3

C h ap t er 4

C h ap t er 5

C ha r te re d A cc ou nt an cy A P as sp or t t o S uc ce ss

C h ar t e re d A c co u nt a nc y C o ur s e

K n ow y o ur E d uc a ti o n a n d E x am i na t io n S y st e m

M a ke Yo u r S t ud y E f f ec t iv e

P r ep a ri n g f o r E x am i na t io n s: A S y st e ma t ic A p pr o a ch

S u b j e ct S p e c i fi c G u i d an c e

01

03

14

21

26

C O N T E N T S


3/38

Pr es id en t' s M es sa ge

My Dear Students,

I a m p le a se d t o n o te t h at t h e Bo a rd o f S t ud i es i s b ri n gi n g ou t a H a nd b oo k o n H ow t o F a ce C om m on

P r o f i ci e n cy T es t . A n y p r o f e s s io n a l c o u r se c a l l s f o r a m e t ic u l o us s t r a t e gy a n d a s i n ce r e a p p r oa c h i n o r d e r to succeed. A comprehensive understanding of the course structure and adequate planning to cover the

e s s en t i a ls i s a p r e - re q u is i t e. T h is b o ok l e t w i l l c e r t a i n ly h e l p a n d g u i de t h e s t u d en t s to u n d er s t a n d t h e

objectives and expectations of the C Aexaminations. Over the years, lots of myths have croppedup around

t h e C A e x a mi n a t io n s , mo r e s o n e g at i v e on e . T hi s p u bl i c a ti o n i s a s i n ce r e a tt e m pt t o d i s cr e d i t t h o se

baseless myths andset the picture incorrect perspective.

The C A course curriculum is of high standard and a judicious mix of theory and practice. One of the areas

o f t h e h ig h e st c o n si d e r at i o n s f o r t he I C AI i s s tr e n gt h e ni n g t he e d u ca t i o na l b a s e o f t h e st u d en t s ,

e s p ec i a ll y i n v i e w o f t h e c ha n g in g d y n am i c s of t h e g lo b a l b u s i ne s s e nv i r o nm e n t. T h i s a ls o c a s ts m o r a l

r e s p o n s i b i l i t y o n t h e s t u d e n t s t o w o r k h a r d . T h i s c e n t u r y i s s l a t e d t o b e a c e n t u r y o f k n o w l e d g e , q u a l i t y a n d

excellence. Survivalof the f ittest is the norm rather thanexception.

I w o u l d l i k e t o g i v e f e w t i p s t h a t w o u l d b e h e l p f u l t o y o u a l l t o c r a c k t h e e x a m i n a t i o n s :

Improve conceptualclarity, avoidrote learning

Planyour study, avoidlast-minute preparation

Take short breaks while studying

Don't lose out onyour sleep

Think positive

Meditate andexercise.

I d e e pl y a p p r ec i a t e th e s i nc e r e ef f o r t s p u t i n b y t h e a c ad e m i c st a f f o f t h e B oa r d o f S t u d ie s i n b r i n gi n g o ut

this highly usef ulbooklet. I sincerelyhope that this publication on 'How to Face C ommon Prof iciency Test'

would help the students in proceeding along the right path in their endeavour to clear the Institute's

examinations andtojointhe prof essionwithinthe minimum possible time..

Wishing the student f raternitya great prof essional career ahead!

Yours sincerely,

G. Ramaswamy

.

.

.

.

.

.

C A G. R am a sw a my

P re s id e nt , I C AI


4/38

V i ce P re si de nt 's M es sa ge

Jaydeep Narendra Shah

V i c e P r es i de n t, I C AI

MyDear Students,

C h a r t er e d A c c ou n t a nc y i s a r e w a rd i n g an d h i g hl y s o u gh t a f t er c a r ee r o pt i o n . P u r s ui n g th e

course requires hard work and concerted ef f orts. Although, the examinations are consideredt o b e h ig h ly d e ma n di n g, m a n y g o od s t ud e nt s n o t on l y e a si l y s a il t h r ou g h t h em b u t a l so g et

r a n k s. H o w ev e r, f o r a s t u d en t w ho l a c k s p r o p e r a p p r o ac h , th e pa t h t o b e c om e ch a r t e r ed

a c c o u n t a n t c a n b e a d i f f i c u l t t r a c k t o t r a v e r s e .

I a m v e r y h a p p y t h a t t h e B o a r d o f S t u d ie s o f t h e I n s ti t u t e o f C h a r t e re d A c c ou n t a nt s o f I n d i a i s

p r i nt i n g a H a n d bo o k on H o w to F a c e C o m mo n P r o f i ci e n cy T es t t o h e l p a l l t h e st u d en t s . Th e

p ub li ca ti on i s re su lt o f c om mi tm en t an d h ar d w or k of B oa r d o f S tu di es a nd i ts f ac ul ty

m em b er s . I t i s my s i nc e re b e li e f t h at t h e b oo k le t w il l h e lp t h e st u de n ts t o p l an o u t th e ir

s t u d ie s . W it h p r o p er a p p r o ac h , t h e c o u r s e w i l l b e c om e s im p l e r a n d s t u d en t s w il l e a s il y b e

able to assimilate tricky concepts and pass the examinations.

I w ou ld a ls o t a ke t h is o p po r tu ni ty t o s ha re a f ew o f m y p er so na l t ho ug ht s. Y ou s h ou ld n ot c h o o se C A p r o f es s i on b e c au s e y o ur f a t h er o r m o t h er s a y s s o o r t h e r e is a p r e ss u r e f ro m y o u r

s o c ia l c i r c le . Y o u o n l y n e e d t o h a v e y o u r o w n d r e am t o b e c om e a C h a r t er e d A c c ou n t a n t a n d

the rest willf ollow. The interest inthe course should come f rom your heart. The C A examination

d e ma n ds to t al c o mm i tm e nt an d d e te r mi n at i on t o s u cc ee d . I t i s h u ma n n a tu r e t o g a in

knowledge and succeed. Imbibe this nature fully, work hard as there is no short cut to success

andhardwork never goes unrewarded.

I t i s m y f i r m a n d c o n si d e re d b e l ie f t h a t t he c h a r t e r ed a c c ou n t a n cy c o u r s e is n o t t o u gh . I t c a n

b e s i m pl e t o p a s s t he e x a m in a t io n s , p r o vi d e d y o u p l an y o u r se l f a n d w o r k e f f ec t i v el y t o w a r ds

t h e a c hi e v em e n t o f t h e d e s i re d g o a l . I w o u l d a l s o l i k e t o g i v e a f e w t i p s t h a t wo u l d b e h e l p f u l t o

you to pass the examinations:

H a v e c o n f id e n c e i n y o u r se l f . Yo u s h ou l d h a v e p o s it i v e a p p r o ac h a n d s h o ul d n o t a ll o w

n e g a t i v i t y t o c r e e p - i n .

Planyour studies andstudyregularly.

.

.


5/38

.

.

.

Donot resort toselective studies. Alltopics must be assimilatedf ully.

Avoid time wasting activities. However, mix recreationto keep mind f resh.

Discuss withsuccessf ulsenior students, experiencedf aculties andyour principal.

The success is yours only if you aspire and work f or it. In the words of Napoleon Hill - Patience,

persistence andperspirationmake anunbeatable combinationf or success.

W i s h y o u a l l t h e B e s t ,

Yours sincerely,


6/38

C ha ir ma n' s M es sa ge

My Dear Students,

You would be busy preparing f or your f orthcoming C ommon Prof iciency Test. The three R 's f or Success

a r e R e gu l a r S t ud y , Re p e t it i o n a n d R e vi e w . O u r B oa r d o f S t u d ie s h a s c o m e o ut w i t h a b o o k le t t i t l ed H o wt o F a c e C om m o n P r o f i ci e n cy T es t . T h is l u c i d , e as y t o c o m p re h e nd g u i d e w il l g i v e y ou p r a c t i ca l p o i n te r s

o n h o w t o s t u d y, s h a r p e n y o u r l e a r ni n g s k il l s , h o w t o j u d i c i o us l y u s e t h e 4 h o u r s g i ve n t o y o u . T h e Bo a r d o f

Studies has always been there and continues to be by your side giving you logistic support in achieving

your cherished goal of becoming a C hartered Accountant. This handy and timely booklet will assist you in

achieving your goal.

H a r d w o r k , d e d i ca t i on , t e n ac i t y a n d c o m m it m e nt to a c h ie v e y o u r g o a l w i l l b e t h e q u a l it i e s y o u w i l l

r e q u ir e . M e n t al s t r en g t h a n d r e s il i e nc e a r e v e r y i m p or t a n t . S i n gl e m i n de d d e v o ti o n a n d u n s ha k e ab l e

f a it h i n y o ur c a pa b il i ty b a ck e d b y i n te n se a n d r i go r ou s s tu d y w i ll s e e yo u t hr o ug h . Th e c ru n ch t i me i s

b e f or e y o u . P e r si s t e nc e a n d p e r s ev e r a nc e a r e t h e k e ys t h a t w i l l u n l o ck t h e d o o r s t o s u c ce s s i n t h e C A

examinations. Sometimes you get emotionally tired and want to throw in the towel. My advice is don't let

t h e se d a r k c lo u d s co m e y ou r w a y. S t a y f o c us s ed a n d p l a n y o u r st u d y s t r a t eg y . A s a v an t h a d s a i d T h r eet h i n gs c a n n e v er be t a k e n b a c k :- A s p e nt ar r o w, a s p o ke n w o r d a n d a m i s se d o p p o r t un i t y. T h e r e i s n o

securityonthis earth, onlyopportunity.

I w o u ld l i k e t o q u o t e t h e i m m o r t a l w o r d s o f E d d i e R o b i ns o n t o t h e s t u d en t r e a d er s T he wi l l t o w i n , t h e

d e s ir e t o s u c ce e d , t h e u r ge t o r e a ch y o u r f ul l p o t e nt i a l , t he s e a r e t he k e y s t h at w i l l u n l oc k t h e d o o r o f

p e r s o na l e x c el l e nc e . A w i s e m a n h a d s a i d B e li e v e y o u ca n , an d y o u ar e h al f w ay t h e re . O b s t a cl e s an d

minor set backs and pitf alls are but stepping stones towards your goal. Always believe in your heart that

you are building a strong f oundation and have unshakeable f aith in your ability to succeed. As Thomas

Jef f erson said When you reach the end of your rope, tie a knot in it and hang on. Have the tenacity and

c o u r ag e t o s t i ck o n t o t h e p a t h t i l l y o u ma k e i t . P le a s e r e m em b e r, i t is a l wa y s to o s o o n t o q u i t . D o n ' t b e

morose or dif f ident about your perf ormance. Ann Landers said Nobody gets to live life backward. Look

ahead, that is where your f uture lies. Don't live in the yesterday and what might have been, think about

tomorrow andact today.

Your positive attitude, dedicated and planned study will lead you to the f inal goal. Dif f iculties mastered

are opportunities won. Always remember, there is no gain without pain. It is impossible to get rainbows

without rain. Umbrellas can't stop the rain, but they will make us to stand in the rain. Similarly,

conf idence maynot itself bring success, but it gives us the power to f ace any challenge. Look with positive

i n t en t i o n; s pe a k w i t h i n n er co n v i ct i o n ; l i s t en w i t h i n t en s e a t t en t i o n; t he n y o u w i l l m o v e i n t h e r i g h t

direction.

C A. V. Mu ra li

C h ai rm an , B oa rd o f S tu di es , I CA I


7/38

Thomas Alva Edison had a wonderf ul piece of advice and it could apply to every sphere of lif e Many of

lif e's f ailures are people whodid not realize how close they were tosuccess whenthey gave up.Problems

are like trees seen through a running train. As you approach them they grow bigger. Once you pass them,

they become smaller. That's Life.!HelenKeller said We cando anything we want, if we stick to it long

enough.

As I have said earlier When God solves your problems, you have f aith in His abilities; When God does not

solve your problems, He has f aith in your abilities. So, please don't give up. To succeed, it is necessary

t o a c ce p t t h e wo r ld a s it i s an d r i se a bo v e it . E ve r y th i ng i n t h is w o rl d h a s g o t a u t il i ty v a lu e E ve n a

stopped clock is right twice a day. The best way to predict your f uture is to create it. Optimism is the f aith

that leads toAchievement.

For C A Students who are preparing f or exams there is no better advice than what Benjamin Franklin said

N e ve r l e a ve t h a t t i l l t o m or r o w w h i c h y o u c a n d o t o d ay . W i s hi n g e a c h a n d e v e r y o n e o f y o u AL L T H E

VER Y BEST f or the f orthcoming examinations.

I l o o k f o r w a r d t o g r e e t i n g y o u a s a C h a r t e r e d A c c o u n t a n t p r o f e s s i o n a l s o o n .

W i t h w a r m p r o f e ss i o na l r e g ar d s ,

Forever, yours in service,

CA. V. MuraliC hairman

B o ar d o f S t ud i es

IC AI, New Delhi


8/38

MyDear Students,

I a m g la d t o n o te th a t t h e B o ar d o f S t ud i es is br i ng i ng ou t a H a nd b oo k o n H ow to F ac eC ommon Prof iciency Test.

The multi f aceted knowledge a C hartered Accountant, enjoys through unique academic

p r og r am m e bl e nd e d w i th p r ac t ic a l t r ai n in g i s wh a t th e b us in e ss a n d i n du st r y n e ed i n t h e

a d ve n t of g l ob a li z at i on o f I n di a n e c on o my . An d f or g a i ni n g th i s kn o wl e dg e, a s t ud e nt o f

C ha r te re d A cc ou nt a nc y h as t o g o t hr ou gh t he r i go ro us t r ai ni ng t he or et ic al a s w el l a s

p r a c t ic a l . He h a s al s o t o d e m on s t r a te t h e p r of e s si o n a l k n o w le d g e a n d c o m pe t e n ce t h u s

g a i ne d i n t h e e xa m s . H e ha s t o c r a c k o ne o f t h e t ou g h es t p r o f es s i on a l e x a ms i n t h e c o un t r y .

S c a re d o f t h i s m an y s t u d en t s g i v e up t h e c o ur s e i n b e t w ee n . M i nd y o u , i t t a k es a f e w t h i ng s t o

c r a c k t h i s e x a m - a p r o p er m in d s et , a s h a r p m e m or y , a g o o d t i m e m a n a ge m e nt , a s i n ce r e

p r e p a r a t i o n a n d e f f o r t a n d p r o p e r p r e s e n t a t i o n o f a n s w e r s i n t h e e x a m s .

I a m s ur e t ha t t hi s b oo k w il l a i d t h e st u de n ts i n p r oc e ed i ng a l on g t he r i gh t p at h i n t h ei r

e n de av o r to c l ea r t he e xa m s an d t o j o in t h e pr o fe s si o n i n t h e mi n im u m po s si b le t i me . I

appreciate the sincere ef f orts of the academic staf f of the Board of Studies in bringing out this

publication.

W i s h y o u a l l t h e b e s t ,

Yours sincerely,

C A N a ve e n N . D. G up t a

V i ce Ch ai rm an 's M es sa ge

C A N av ee n N . D. G up ta

V i ce C h ai rm an , B oa rd o f S tu di es , I CA I


9/38

Ch a r t e r e d A c c o u nt a n c y ( C A ) h a s e m e r g e d a s a d i s t i n ct i v e p r o f e s si o n o f o v e r ri d i n g i m p o r t a n c e i n

t h e t w e n t y f i r s t c e n t u r y p a r t i c u l a rl y i n t o d a y' s f r e e g l o b a l iz e d w o r l d . C h a r t e r e d A c c o u nt a n t s i n

p u b l i c p r a ct i c e a s w e ll a s t h o se e m p l o ye d i n i n d u s tr y , f i n a n c e an d c o m m e r c e ar e p l a y in g a w i d e

variety of roles be it finance, management or policy making, both at home and abroad. In view of them a j o r c ha n g e s i n t h e e c on o m y, i n n ov a t i ve f i n a n ci a l t o o l s a r e b e in g c o ns t a n t l y i n t r o d uc e d a n d t h e C A

p r o f e s s i o n i s a l s o a n i n t e g r a l p a r t o f t h e s e d e v e l o p m e n t s .

C h a r t e r e d A c c o u nt a n c y i s b e i n g i n c r e as i n g l y a c c l a i me d a s t h e b e s t p r o f e s si o n a l q u a l i f i c at i o n i n t h i s

m i l le n ni u m o f f r e e m a r ke t e c on o my a n d g l o ba l iz a ti o n o f t r a de a n d s e r v ic e s. E d uc a ti o n a n d t r a in i ng

s y s t e m of C h a r t e r e d A c c o u nt a n t s is s u c h t h a t af t e r q u a l i fy i n g , a C h a r t e r e d A c c o u nt a n t m a y g o f o r p u b li c

p r a c t i c e e i t h e r o f h i s / h e r o w n o r in p a r t n e r s h i p w i t h o t h e r C h a r t e r e d A c c o u nt a n t ( s ); o r e l s e o n e ma y g o

for employment intrade, commerce, industry, finance, etc.

C A i s a n i n t e r na t i o n al l y r e l e v an t a n d a c c e s si b l e q u a l i f i c at i o n a g o - a n yw h e r e p a s s p or t t o a s u c c e ss f u l

c a re e r. I n a n a g e o f g r o wi n g g l ob a li z at i on a n d i n te n si f i ed c o m pe t it i on , m o de r n b u si n es s d e m an d s

t i m e l y a n d a c c u r a te f i n a n c i al i n f o rm a t i o n. T h a t i s w hy , CA s a r e s o ug h t a f t e r b y c o m p a n ie s a c r o s s t h e

world. They are commercial business managers with wide-ranging skills. In view of the integrated

s c en a ri o o f t h e g l ob a l iz a ti o n, t h e w o rl d e c on o mi c s c e na r io i s r a p id l y e v ol v in g . A pa r t f r o m e xc i ti n g

o p po r t u ni t i es a n d a t tr a c ti v e p a y- p ac k a ge s , C h ar t e r ed A c co u nt a n cy q u al i f ic a ti o n i s r e c og n iz e d

i n t e r na t i o na l l y, a n d i t s r e p ut a t i o n a n d v a l u e a r e m a i nt a i n e d t h r o u gh h i g h s t a n d a r d s of a s s e ss m e n t an d

C ha rt er ed A c co un t an cy

- A Passport to Success

1

1


10/38

r e g u l a ti o n . T h is i s w o r t h w h i l e t o n o t e t h a t i n t e r m s o f s t r e n g th i n c o r e a r e a s, v i z . a c c o un t a n c y, a u d i t i ng ,

t a x a t i on , CA s ar e f ar a he a d a n d l e a d e r s . I t is t he p r o fe s s i on a l q u a l i f i c at i o n o f c h o i c e f o r b u s i n e ss e s

worldwide.

The profession of Chartered Accountancy is looked upon with great honour and dignity. Chartered

Accountants have developed this over the years through sincerity, devotion, and integrity. Due to the

i n c re a si n g d e m an d f o r t h ei r s e r v i ce s , t h e a ve r a ge e a r n in g s/ r e mu n er a t io n p a c ka g e s o f C h ar t e r ed

Accountants has also steadily increased in the recent past. Hence a student, on successful completion

o f e x a m i n a t i o n s a n d t r a i n i n g , c o u l d l o o k f o r w a r d t o a c o m f o r t a b l e c o m p e n s a t i o n p a c k a g e .

The present attempt is an initiative of the Board of Studies to apprise the CA students about the nuts and

b o l t s f o r p r e p a r at i o n f o r a p r o f e s si o n a l e x a m i na t i o n. T h e B o a r d o f S t u d i es i s c o m m i t te d t o s t r e n gt h e n

t h e e d u c a t i o n a l b a s e o f t h e C A s t u d e n t s .

The purpose of CA education has been conceptualized as that of preparing competent professional

a c co u nt a n ts i m bi b e d w i th a z e al t o m a ke l i fe - l on g c on t ri b ut i on t o t h e de v el o p me n t of t h e p r o fe s si o n

a n d t h e s o c i e ty . T h e r o l e o f p r o f e s si o n a l a c c o u nt i n g e x a m i na t i o n s i n a s s e ss i n g t h e c o m p e t e nc e of

c a nd i d at e s h a s b ee n h i gh l i gh t ed i n o r d er t o v i ew t h e I n s t it u te ' s o w n e x am i n at i on s y s te m i n i t s p r o pe r

p e r s p e c t iv e . S i n c e t he I n s t it u t e ' s p r o f e s si o n a l e x a m i na t i o n s h a v e a t h r u st o n t e s t i n g b o t h t h e o r et i c a l

p r o f i c i e n cy a n d p r a c t i c al c o m p e t e nc e of C A s t u d e nt s , i t is su g g e s t e d t h a t s t u d e n ts sh o u l d r e f o r m t h e i r

a p p r o a c h t o C A e d u c a ti o n a n d e x a m i n at i o n s a n d p r e p a r e a c c o r d i ng l y.

P ur po s e o f t hi s B o o k l e t

2


11/38

3

Ee d u c a t io n , i f s i m p l y s t a t e d , m e a n s t h e p r o c e ss o f g a i n i ng k n o w l e d g e , i n c ul c a t i ng f o r m s o f p r o p e r

c o n d u c t a nd a c q u i ri n g t e c h n i ca l c o m p e t e nc y . I t a ls o a i m s a t b r i n g in g p r o g r e s s i n p r a c t i c al f i e l d s

t o e na bl e e ac h e d uc at ed i nd iv id u al o f s oc ie ty t o e ar n a l i vi ng . E du ca ti on o f t he v ar io us f i el d s

p r o d u c e s p r o d u c ti v e hu m a n r e s o ur c e s , w h o c a n c o n t r ib u t e to t h e c r e a t io n o f w e a l t h f o r a c o u n tr y . Th u s ,i t l a y s t h e f o un d a t i on f o r t h e a c c o mp l i s h m en t o f a p e r s o n ' s d re a m s a n d a s p i r a ti o n s . E du c a t i on b u i l d s a

r e so u r ce f ul i n d iv i du a l o u t o f a r a w hu m an b e i ng . Ed u c at i on c o nt r ib u te s to t h e c u l ti v at i on o f a p r ud e nt

p e r so n a n d p a ve s p at h f o r th i s fe e l in g o f f u lf i l l me n t. T h e tr u e pu r p os e o f e d uc a ti o n i s t o b r i ng a b o ut

p r o fo u nd n e ss t o o n e' s e m o ti o ns , t o b r o ad e n o n e' s p e r s pe c t iv e s a n d t o l e ad t o a h e al t hi e r a p p ro a c h o f

looking at life.

M o d e r n- d a y e d u c a t io n , w h e th e r f o r C A C o u r s e o r a n y o t h e r c o ur s e , i s d o m i na n t l y e x a m i n at i o n - d ri v e n .

S o m u ch s o, t he p ur p os e o f e d uc at io n h as c om e t o b e i de nt if i ed a s q ua li f yi ng i n t he r el e va nt

e x a m i na t i o n . S t u d e n ts a r e o b s e s si v e l y o r i e n te d t o a c q u i re j u s t th a t m uc h k n o w l ed g e a n d s k i l l s, a s to

m e e t t h e ex a m i n at i o n r e q u i r em e n t s . I t i s to b e e m p h a si z e d t h a t an o v e r- e m p h a si s o n e x a m i na t i o ns i s

u nl ik el y t o l ea d t o a s ou nd a nd s ol id e du ca ti on al b as e. E x am in at io ns a r e n o m or e t ha n a n i nt eg ra l

e l e me n t o f t h e e d uc a ti o na l p r o ce s s a n d n o t t h e o t he r w a y r o u nd . A c l ea r r e co g ni t io n o f t h e l a r ge r

p u r po s e o f e d uc a ti o n i s es s en t ia l o n t h e p a r t of t h e co n ce r ne d p l ay e r s s o a s to u n de r s t an d t h e r o l e o f

e x a m i n a t i o n s i n a c o r r e c t p e r s p e c t i v e .

I n t he c on te xt o f t he C A c o ur s e, t he p ur p os e of e d uc at io n a nd t r ai ni ng i s t o h el p s t ud en ts m ou ld

E d u c a t i o n a n d T r a i n i n g - A n I n t e g r a l A s p e c t

CHAPTER TWO

C h ar t er e d A c c ou n ta n cy Co u rs e

- Know Your Education

and Examination System

2


12/38

themselves as competent professional accountants capable of making a positive contribution over their l i f e t i m e t o t h e p r o f e s si o n a n d s o c i e ty . B r o a d l y s p e a k in g , e d u c a t io n a n d e x p e r ie n c e ( p r a c t ic a l t r a i n i ng )

o f p r o fe s si o na l a c co u nt a n ts m u s t p r ov i de a f o un d at i on o f k n ow l e dg e , s ki l l s an d p r o fe s si o na l v a lu e s

t h a t e n a bl e s t h e m t o c o n t i nu e t o l e a r n a n d a d a p t t o c h a n g e t h r ou g h o ut t h e i r p r o f e ss i o n al l i v e s.

E x ce l l en c e i n a n y p r o f e s si o na l c o ur s e c o m es t h ro u gh c o ns u lt a t io n o f h i gh q u al i ty s t u dy m a t er i al s a n d a

m e t i c u lo u s s tu d y p l a n . B o a r d o f S t u d i e s p r o v i d e s m u l t i t ud e o f a c a d e m ic r e s ou r c e s of f a i r l y h i g h q u a l i ty

a n d d e p e n d ab l e s o u r c e s o f s t u d y f o r s t u d e n ts t o e n a b l e t h e m t o d e v e l o p t h e m u c h n e e d e d i n t e l le c t u a l

base and inputs for assimilation.

The Board of Studies has always been providing a comprehensive study material on each and every

s u bj e c t. T h e ai m of t h e s t ud y m a te r ia l i s to c o ve r th e en t ir e co u r se w hi c h i s su b - di v id e d i n to v a ri o us

c h a p t e r s . T h e p r e s e n t at i o n o f t h e s u b j e ct m at t e r i s d o n e i n a m a n n e r s o a s t o e n a b l e t h e s t u d e n ts t o

g r a sp a n d u n de r s t an d t h e s u bj e ct a nd s t r en g th e n t h ei r kn o wl e d ge i n t h e p a r t ic u l ar a re a . T h e s t ud y

m a t e r i al a l s o a i m s t o d e f i n e a n d c o n f i n e t h e s c o p e o f s y l l a bu s w h i l e d e v e l o pi n g e a c h t o p i c . A n a t t e m pt

i s a l so m a d e t o p r o v i d e s i m p l e il l u s tr a t i o n s t o h i g h l i gh t t h e d i f f i c u l t t op i c s i n a l u c i d m a n n e r. T h e B oa r d

o f S t u d i e s u p d a t e s i t s m a t e r i a l o n a p e r i o d i c a l b a s i s .

F o r C P T st u de n ts , th e Bo a r d o f S t ud i e s h a s b r o ug h t o u t M o de l Te s t Pa p er s i n t w o v o lu m es . T h e se

volumes contain 30 Model Test Papers designed on the pattern of actual test. The questions have been

p r e p a r ed s o a s t o e x p o s e t h e s t u d e nt s t o a l l t y p e s o f q u e s t io n s s u c h a s o n e - l i ne st a t e m e n t q u e s t i on s ,

f i l l -i n t h e b l a nk s , n u me r ic a l b a se d a n d t a b le b as e d q u es t io n s, p ar a g ra p h b a se d a n d d i ag r a m b a se d

q u e s t io n s . T h e s e te s t p a p e r s ar e s u p pl i e d a l o n g wi t h t h e s t u dy m a t e r ia l t o t h e s t ud e n t s .

T h e s t u de n ts ' m o nt h ly J o ur n al , p u b l is h ed b y t h e B o ar d i s a n o th e r r e g ul a r c h a nn e l o f c o m mu n ic a ti o n

with students, which contributes to the fund of knowledge required of CA students through Articles,

Case Studies, Reports, Academic updates, Announcements, etc .

B o ar d o f S t ud i e s Kn o wl e d ge P o r t a l i s p r im a ri l y t o e n su r e f re e a n d u n re s tr i ct e d f l o w of k n ow l ed g e a nd

i n fo r ma t io n t o t h e s t ud e n ts a cr o ss t he c ou n tr y b y w a y o f e a sy a c c es s to t h e l a te s t pu b li c a ti o ns o f t h e

I n s t i tu t e . O u r ef f o r t s w i l l , h o w e v er , b e a r f r u i t o n l y i f y o u m a k e i t a h a b i t t o b r o w s e t h e p or t a l a s of t e n a s

possible and assimilate the knowledge inputs contained therein.

D o m a ke it a p a r t o f y o ur d a i ly a g en d a t o s u r f t h ro u gh t h e I n st i tu t e' s w e bs i te an d b e a b re a st wi t h t h e

B o ar do f S t udi e s - P r o v i s i o no f A c ade m i c R e s o ur c e s

S t u d y M a t er i a l

Model Test Papers

The Chartered Accountant Student

B o ar do f S t udi e s Kno wl e dg e P o r t al

4


13/38

l a t e s t . T h e BO S h o s t s i t s la t e s t p u b l i c at i o n s, i n cl u d i n g s t u d y m a t e r i al s an d m o d e l t e s t p a p e r s al s o o nthe knowledge portal.

The faculty of the Board of Studies located at Noida is a rich source of academic support to the CA

s t ud e n ts . T he f u l l- t i me f a c ul t y f o r al l t h e su b je c t s o f t h e CA c o ur s e a re e v e r re a d y t o h e lp s t ud e n ts i n

a n s w e ri n g t h e ir q u e r i e s, i n c l a r i f yi n g s p e c if i c p o i n t s an d d o u b t s on a n y r e l e v an t a c a d e mi c m a t t e r s . In

c a s e s t ud e n t s ne e d a n y c l a r i f i c at i o n s an d h a v e an y s u g g e st i o n s to m a k e f or f u r t h e r i m p r ov e m e n t o f t h e

m a t e r ia l c o n t a i ne d h e r e i n, t he y m a y f e e l f r e e t o w r i t e t o t h e D i r e c t or , B o a r d o f S t u d i e s, A - 29 , Se c t o r -6 2 ,

N O I D A - 2 0 1 3 0 9 ( U P ) E - m a i l : b o s n o i d a @ i c a i . o r g

The Board of Studies also provides on-line help to students pursuing Chartered Accountancy Course.

S t u d e n ts w i t h t h e i r q u er i e s i n a n y s u b j e ct m a y c o n t a c t t he g r o u p a t g u i d a nc e @ i c ai . o r g w i t h t h e i r s u bj e c t

r e l a t ed p r o b l e m s a n d s u g g e st i o n s . S t u d e nt s , w h o d o n o t h a v e t h e f a c i l i ty t o g e t g u i d a n ce f o r s o l v in g

t h e i r a c a d e m ic p r o b l e ms a r i si n g i n t h e c ou r s e o f t h e i r p r e p a r a ti o n , ma y f e e l f r e e t o t a k e a dv a n t a g e o f

this scheme.

C o m m o n P r o f i c i e n c y T e st ( CP T ) i s a n e n t r y l e v e l t e s t f o r C h a r t e r e d A c c o u nt a n c y C o u r s e . I t i s a n o b j e c t iv e

t y p e te s t o f 2 0 0 m a r k s of 4 s u b j e c ts n a m el y , F u n da m e n t a l s o f A c c o u nt i n g , M e r c a n ti l e L a ws , G e ne r a l

E c o n om i c s a nd Q u a n ti t a t i v e A p t i t ud e w i t h a n o b j e c t iv e t o t e s t t he b a s i c k n o w l ed g e i n t h e s e su b j e c t s.C P T i s d i v i d e d i n t o t w o s e s s io n s o f t w o h o u r s e a c h . I n t h e f i r s t se s s i o n t h e r e ar e t w o s e c t i on s : S e c t i on A

F u n d am e n t a l s o f A c c o u nt i n g c a r r y i n g 6 0 m a r k s a n d S e c t i o n B M e r c a n ti l e la w s c a r r y i n g 4 0 m a r k s . I n

t he s e co nd s es si on t he re a r e tw o s ec ti on s: S e ct io n C G en er a l E co no mi c s ca rr y i ng 5 0 m a rk s an d

S e c t i o n D Q u a n ti t a t i v e A p t i t ud e al s o c a r r y i n g 5 0 m a r k s . T h e s e t w o s e s s i on s ar e of t w o h o u r s e a c h , i n

b e t w e e n t h e r e i s a s m a l l b r e a k .

( N ot e : P l ea s e s ee A p p e nd i x f o r t he i n s t ru c ti o ns w h i ch a r e g i ve n t o t h e s t ud e nt s a l on g w i t h t h e A d mi t

C a r d a n d a t t h e t i m e o f t h e C P T )

There are cert ain elements of the CA examinations which are decidedly beneficial to students as under:

O n e o f t h e h a l l m ar k s o f t h e I n s t i tu t e ' s e x am i n a t io n s i s t h e i r h i gh b u t a t t a i n ab l e s t a n d a r d , w h ic h c o u l d

b e m e t wi t h a d eq u at e e f f or t e v e n b y a v er a g e st u de n ts . T he r e is a l so a r e ma r k ab l e c on s is t e nc y i n t h e

s t a nd a r d o f C A e x am i n at i on s ; it i s n o t ex p os e d t o a n y v a ga r ie s s i nc e i t i s i ns t i tu t io n al i ze d i n to t h e C A

s y s t e m. T h e s e t wo f e a t u re s w o u l d d e c i d e d l y b e h e l p f u l t o C A s t u d e nt s i n e n h a n ci n g t h e ir s e l f - as s u r a nc e

S t ude nt s ' C o uns e l l i ng

A Word about Common Proficiency Test

C A Exam i nat i o ns - S o m e D i s t i nc t i v e F e at ur e s

H i gh a n d Co n s i s t en t S t a n d a r d o f E x a m i n a t i o n s

5


14/38

b y m o b il i z in g t h ei r i n te r na l s t re n g th s t o r e ac h t h e e x pe c te d s t a nd a r ds an d t o e x pe r ie n c e a s e ns e o f a c h i e v e m e n t b y p e r f o r m i n g w e l l i n t h e e x a m i n a t i o n s .

The June and December examination cycles are also advantageous to students. They are given two

o p p o r t u n i t i e s i n a y e a r t o p a s s .

The questions asked in CPT are MCQs type. Each question carries one mark and has four given choices.

The students are required to darken the correct choice (circle) with a pencil in the given OMR sheet

p r o vi d e d i n t h e e x am i na t io n . T h e o r ig i na l t e s t p a pe r al o ng w i th O M R s h ee t i s t o b e re t ur n ed b e fo r eleaving the examinationhall.

A candidate to be eligible to be declared pass in CPT must secure a minimum of 50 percent marks in the

a g g r e g at e o f t h e m a x i m um m a r k s . I t i s c l a r i f i e d t h a t t h e re i s n o r e q u i re m e n t o f s e c u r in g m i n i m u m m a r k s

i n a n y s u b j e c t / s e c t i o n i n C P T , b u t a p p e a r a n c e i n b o t h s e s s i o n s o f C P T i s m a n d a t o r y .

F o r e a ch c o r r e ct a n s we r , th e s t u de n t s a re a w a r d e d o n e m a r k a n d f o r a w r o n g a ns w e r s tu d e n t s l o s e

. 25 m ar k .

The Institute is among the very few bodies, which have an impeccable record in maintaining high quality

o f d i s c i p li n e i n h o l d i n g th e e x a m in a t i o ns . T h e e nt i r e e xa m i n a ti o n p r o c e s s is s e t i n m o t i o n c a r e f ul l y a n d

with clock-like precision; each stage is monitored closely, leaving nothing to chance. The Institute's

e x a m i n a t i o n s h a v e e a r n e d a h i g h c r e d i b i l i t y f o r t h e c a r e a n d c o m p e t e n c e w i t h w h i c h t h e y a r e c o n d u c t e d .

Examinations Twice a Year

Multiple Choice Questions (MCQs)

Passing Marks

Negative Marking

D i s c i pl i ne dC o nduc t o f Exam i nat i o ns

6


15/38

G e ner al Ins t ruc t i ons1 . I m m ed i a te l y o n r e ce i p t o f a d m it c ar d , pl e a se c h ec k w he t he r th e pa r t i cu l ar s p ri n te d t h er e in a r e

c o r r e ct v i z. N a m e, R o ll N o . , Re g i s t r at i o n N o . , La n g u ag e o f q u e s t io n p a p e r bo o k l e t, E x am i n a t io n

C en tr e, e tc . P le a se r ep or t t o A d di ti on al S e cr et a r y ( Ex am s .) i mm e di at el y i f a ny d is cr ep an cy i s

n o t i c ed . F u r t h e r, n o t e t h e c a n d i d a te s a r e b e i n g p e r m i t t ed t o a p p e a r i n e n s u i ng C P T e x a m i n a ti o n o n

P R O V IS I O N A L b a si s s u b j e c t t o v e r i f i c at i o n a t t h e t i m e o f a d m i s si o n t o I P C C i . e f u l f i l l in g t h e e l i g i b i l it y

r e q u i re m e n t s a s s t i p u l at e d i n R e g u la t i o n 2 5 D o f t h e C h a r t e r e d A c c o u nt a n t s R e g u la t i o n s, 19 8 8 o f t h

b e i n g r e g i s t er e d w i t h B o a r d o f S t u d i e s o f t h e I n s t i tu t e o n o r b e f o r e 5 A p r i l , 2 0 11 a n d h a v i ng al r e a d y t h

p a s s ed o r a l r e a dy a p p e a re d i n 1 2 C l a s s o r e q u i v al e n t r e c o g ni z e d e x a m i na t i o n .

2 . I t i s a d v i s ab l e t ha t ev e r y c a n d i d at e v is i t s t h e ve n u e o f t h e ex a m i n at i o n c e n t r e b e f o r e h a n d t o a v o i d

a n y i n c o n v e n i e n c e o n t h e d a y o f t h e e x a m i n a t i o n .

3 . E nt r y t o t he E xa mi na ti on H al l w il l b eg i n h al f a n h ou r b ef or e t he s t ar t o f t he e xa mi na ti on i n e ac h

S e ss i on . L at e e nt r y w i ll b e a ll o we d u p t o 1 5 m i n ut e s of t h e st a r t o f t h e ex a mi n at i on i n e a ch S e s si o n

a n d n o c a n d i d a t e w i l l b e a l l o w e d t o l e a v e u n t i l t h e e x a m i n a t i o n i n e a c h S e s s i o n i s o v e r .

4 . A c a n d i d at e m us t c ar r y h i s ad m i t ca r d , bl a c k p e n , H B Pe n c i l , e r a s e r, s ha r p e n e r t o t h e

examination.

7

THE INSTITUTE OF

C H A RT E R ED A C C OU NTA NT S OF I ND I A

C o mm o n P ro f ic i en c y Te s t

I NS T RU C TI O NS T O E X AM I NE ES

APPENDIX

T h es e i n s t ru c ti o ns w e re g i ve n d u ri n gthe June 2011 Examination


16/38

t h5 . A c an di da te i s e li gi bl e to a pp ea r in C om mo n P ro fi ci en cy Te st t o b e he ld o n 19 J un e 2011 i f h e

f u l f i l l s th e e l i g i b il i t y r e q u i re m e n t s i. e . h e h as b e e n r e g i s te r e d f o r C P T C ou r s e / s w it c h e d o v e r f r omt h

P E -I t o C P T C o ur s e o n o r b e f or e 0 5 A p ri l , 2 011 a n d h a s a l re a dy p a ss e d o r a l re a dy a p pe a re d i nt h

t h e 1 2 c l as s e xa m in a ti o n.

6 . N o r e f e r en c e m a t e r ia l / s t u dy m a t e r ia l b o o k s e t c . a n d b l a n k p a p e r s f o r r o u g h w o r k w i l l b e a l l o w ed t o

b e t a k e n i n s i d e t h e e x a m i n a t i o n h a l l .

7. E ve r y c an di da te wi ll f i nd h is R ol l N o. w ri tt en a ga in s t t he se at al lo tt ed a nd h e s ho ul d o cc up y t he

allotted seat only.

8 . E v er y c a nd i d at e i s r e q ui r ed t o s a ti s fy t h e Qu e st i on . B oo k le t g iv e n i s o f t h e me d iu m o pt e d b y h i m an d

c o n t a i ns t h e n u m b e r o f p a g e s p r i n t ed o n t h e c ov e r pa g e o f t h e b oo k l e t. I n c a s e o f a n y d i s c r e pa n c y,

he should ask for exchange of the Question Paper Booklet immediately.

9 . T h e c an d i d a t e m u s t w ri t e h i s 9 d i g i t Ro l l N u m b e r, a s al l o t t e d t o h i m a n d p r i n t e d i n t h e A dm i t C a r d o n

O M R A ns w e r S h e e t i n b o x e s i n b l a c k p en a n d d a r k e n a p p r o p ri a t e c ir c l e s wi t h H B P en c i l . S i m i l a r ly ,

write Question Booklet Number as also the code viz. A or B or C D, as the case may be on OMR Answer

S h e e t . H e s h o ul d n o t w r i t e h i s N a m e, R e g i s t r a ti o n N u m b e r a n d a l s o n o t m a k e a n y n o t i n g / s c r ib b l i n g

o n t h e A n s w e r S h e e t a n d Q u e s t i o n P a p e r B o o k l e t e x c e p t i n t h e s p a c e p r o v i d e d f o r r o u g h w o r k .

1 0 . E ve r y c a n d i d at e m u s t s i g n t h e a t t e nd a n c e r e g i s t e r w i t h P e n i n e a c h s e s s io n s e p a r a te l y a g a i n st h i s

n a m e i n t h e a p p r o p r ia t e pl a c e . I t m ay b e n ot e d t h a t e v e r y c a n d i d at e m u st p r es e n t h i m s e l f i n b o t h

t h e s e ss i o n s co m p u l so r i l y. I n c a s e a c a n d i d at e i s p r es e n t i n t h e m o rn i n g s es s i o n a n d a b s e n t i n t h e

a f t e r n o o n s e s s io n o r vi c e - v e r s a, d u e t o a n y r e a s o n w h a t so e v e r, h e /s h e wi l l b e d e e me d t o b e a b se n t

i n b ot h s es si on s of C PT a nd h is /h er r es ul t wi ll n ot b e p ro ce ss ed /p re p ar ed / pu bl i sh e d. I n

o t h e r w o r d s, t h e r e s u l t o f s u c h c a n d i d at e s s h a l l b e c a n c e l le d .

1 1. N o c a n d i d at e w i l l l e a v e t h e h a ll w i t h o ut t h e e xp r e s s pe r m i s si o n o f t h e i n vi g i l a to r .

1 2 . B a tt e r y o p er a t ed C a lc u l at o r u p t o 6 f u nc t io n s, 1 2 d i g it s a n d 2 m e m or i es i s a l l ow e d .

Scientific calculator is not allowed.

1 3 . M o b i l e P ho n e a n d a l l e l e c t r on i c s g a d ge t s ( e x ce p t C a l c ul a t o r as s t a t e d a b o v e) a r e s t r i ct l y p r o h i b i te d

8


17/38

in the examination centre/hall. Smoking, chewing tobacco/betel, intoxicant, etc. are prohibited.

Any violation will tantamount to adoption of unfair means.

M O BI L E P H ON E S A R E B A NN E D I N T H E E X AM I N AT I ON C E N TR E

1 4 . C a n d i d at e s h o ul d w r i t e i n t h e O M R a n s w er s h e e ts c o r r e ct Q u e s ti o n P a p e r B o o k le t N o . ,R o l l N u m b e r

a n d Q u es t io n B o ok l et C o d e as g i ve n t o h i m /h e r vi z . A o r B o r C o r D, w i th b a l l p o i nt p e n a n d d a r ke n

a p p r o p r ia t e c i r c l e s w i t h H . B . P e n ci l . I n c a s e a n y c a n d i d at e f i l l s i n t h i s i n f o rm a t i o n w r o n g l y, I n s t i t u tewill not take any responsibility of rectifying the mistake. The Question Booklet Code as darkened

b y t h e c an d i da t e w il l b e f i n al a n d t h e r es u lt w i l l b e p r o ce s se d o n t h e b as i s o f t h e c ir c l e d ar k e ne d b y

him/her.

1 5 .E a ch c a nd i d at e w i ll b e g i ve n o n e Q u es t io n P a pe r B o ok l et o f E n gl i sh / Hi n di l a ng u ag e a s o p te d b y

h i m a nd o n e OM R A ns w e r Sh e e t ( in E n g l i sh l a n g u ag e o n ly ) f o r e ac h s e s s i on . H e w i l l b e t o r e q u i re d t o

s u r r e nd e r t h e Q u e s t i on P a p e r B o o kl e t t o g e t h e r w i th A n s w er S h e e t a t t h e c o n c l u s i o n o f e a c h s e s s io n

o f e x a m i n at i o n a g a i n s t a c k n o w l ed g e m e n t b y t h e I nv i g i l at o r on t h e r ev e r s e si d e o f t h e a d mi t c ar d .

I n o t h e r w o r d s , h e w i l l n o t b e a l l ow e d t o c a r r y t h e Q ue s t i o n P a p e r B o o kl e t t o h o m e .

16 . E a c h c o l u m n i n t h e a n sw e r s h ee t c o r re s p on d s t o t h e s e ri a l n u mb e r o f q u e st i on g i ve n i n t h e q u es t io n

p a p er b o ok l et . I n e a ch c o lu m n, t h er e a re f o u r ci r c le s w hi c h c o rr e sp o nd t o t h e fo u r o pt i on s f or

a n s w e r o f w h i c h o n e i s t o b e da r k e n e d o n t h e a n s we r sh e e t o n l y. A n y a n s w er m ar k e d / da r k e n e d i n

t h e q ue s t i o n b o o k l e t w i l l n o t b e t a k e n c o g n i z a n ce o f a n d n o m a r k s wi l l b e a w a r de d .

17. T h e Q u e st i on P a pe r B o ok l et o f e a ch s e ss i on w i ll c o ns i s t o f 1 00 o b j ec t iv e t y pe q u e s t i o n s . E a c h

q u e st i on w i ll b e o f o n e m a r k a n d f o r e v er y q u e st i on , f o ur op t io n s f o r a n sw e r w i l l b e g i ve n i n t h e

B o o k le t . T h e c a n d i d at e i s r e q u i r e d t o s e l e c t o n e a m on g s t t h e o p t i on s a s h i s a n s w e r a nd d a r k e n w i t h

H B P e nc i l t h a t ci r c l e v i z. A o r B o r C o r D , a s t h e c a se m a y b e , t o b e t h e a ns w e r i n t h e O M R an s w e r sheet.

Specific Instructions relating toAnswer Sheet

9


18/38

Marking the Answers

t h1 8 . F o r e a c h c o rr e ct a ns w er , o n e m a r k w i l l b e aw a r de d . F o r e a c h w r o ng a ns w er , 1 / 4 o f t h e m a r k

e ar ma r ke d f or e a c h q ue st io n w i ll b e d e du ct ed . M u lt ip le d a r ke ne d c ir c le s f or a q ue st io n w il l b e

t r e a t ed a s w r o n g a ns w e r. A n d , f o r qu e s t i on s n o t a n sw e r e d i . e . b l a nk s , a z e r o w i l l b e g i v e n .

1 9 . A c a nd i d at e t o b e e l i gi b l e t o b e d e c la r ed p a ss i n C P T m u st s e c ur e a m i n im u m o f 5 0 p e r ce n t m ar k s i n

t h e a g g re g a t e o f t h e m a xi m u m m a r k s. I t i s c l ar i f i e d t h a t i s n o o f r e q u i re m e n t o f s e c u r in g m i n i m um

m a r k s i n a n y s u b j e ct / s e c ti o n i n C P T, b u t a p p e ar a n c e i n b o t h s e s s io n s o f C P T i s m a n da t o r y . M er i t l i s t t h

u p t o 10 r a nk o f t he c an di d at es s ec ur in g a m i ni m um o f 6 0 p er c en t ma r ks w il l b e pr ep ar ed a nd

c a nd i d at e s c o nc e rn e d w i l l b e i n f or m ed . A c a nd i d at e s c o ri n g 7 0 p e r ce n t m a r ks a n d a b ov e w i l l b e

d e c l a r ed t o h a v e p a s s e d w i t h d i s t i nc t i o n .

2 0 . A c a n d i d at e h a s t h e o pt i o n t o e r a s e th e a n sw e r i f h e w a nt s t o c h a n g e th e a n sw e r a l re a d y d a r k e n ed .

I n s u ch a c a se , h e s h ou l d e r a se it c o m pl e t el y w i th g o od q u al i ty e r a se r a n d e n su r e t h at no m a r k i s

visible after erasing.

21 .C an di d at es a re r eq ui re d t o m ai nt a in c om p le t e di sc ip l in e in t he e xa mi na ti on h al l a nd f or a ny

m i s d e m e an o r o n h i s p a r t ( i . e . t a l k i n g t o, r e c e i v i n g/ g i v i n g a ny h e l p , c o p yi n g f r o m a n y t e x t , d e f y in g i n s t r uc t i o n o f t h e i n v i g il a t o r e t c ) w i l l t a n t a m o un t t o a d o p t io n o f u n f a i r m e a n s i n t h e e x a m i n at i o n . I n

s u c h a s i t u a ti o n , t h e ca n d i d at e c on c e r n ed w i l l b e e xp e l l e d f r o m th e e xa m i n a ti o n a n d w i l l b e s ub j e c t

t o d i s c i p li n a r y a c t i on , a s d e e m e d f i t , a s p e r t h e C h a r t e r e d A c c o u n t a n t s R e g ul a t i on s , 1 9 8 8 .

2 2 . C an di da te s ma y b r in g a c ar d b oa r d o r c l ip b oa r d o n w hi ch n ot hi ng s ho ul d b e wr it te n s o t ha t t he y

h a ve no d i f f i c ul t y i n d a r ke n i ng th e c i r cl e s i n O M R A n sw e r S h e et as t h e t a b le s p r o vi d e d i n t h e

e x a m i na t i o n h a l l m a y o r m ay n o t ha v e e v e n o r sm o o t h s u r f a c e .

10

ExampleF o r e ac h Q u e st i on N o . 5 2 , i f y o u C on s id e r

t h e c o r r e ct a n s w e r t o b e C , m a r k a s s h o w n

below (Correct method):

N o t a s s h o w n b e l o w ( W r o ng m e t h o d )

52

52

52

52

52

A B C D52

A B C D

A B C D

A B D

A B D

A B C D

C

C


19/38

2 3 . F o r a n y i n a d ve r t e nt p ri n ti n g m i s ta k e o r f r a mi n g o f t h e q u es t io n , h e sh o ul d w r it e t o t h e A d d it i on a l

S e c r e t a r y ( E x a m s) . I C A I w i t h i n a w e e k o f t h e d a t e o f C P T e x a m i na t i o n.

11

I f t h e CP T r e g is t r a t i on n u m b e r c o l u m n i s b l a nk o r r e g i s tr a t i o n n u m b e r p r i n t ed i s n ot c o rr e c t o n

t h e A d mi t C a r d p l e as e v e ri f y t h e s am e w i t h t h e C PT r e g i st r a ti o n n u mb e r q u ot e d i n t h e l e tt e r o f

r e g i s tr a t i o n r e c e i ve d f r o m t h e c o n c e rn e d R e g i on a l O f f i c e o f t h e I ns t i t u te f o r c or r e c t ne s s . S u c h a

c a n d i d at e m a y w r i t e h i s c or r e c t C P T r eg i s t r a ti o n n u m b e r a nd d a t e o f r e g i s tr a t i o n t o C P T c o u r s e i n

t h e C P T r e g i st r a t i o n c o l u m n w i t h p e n i n t h e a t t e nd a n c e r e g i st e r t h e e x a m in a t i on h a l l .


20/38

1 . P l ea s e d o n o t o p en t h is B o ok l et t i ll y o u a r e t o ld t o d o s o .

2 . I f t h e Q u es t io n P a p er B oo k le t do e s n o t c o nt a i n 1 00 q u es t io n s o r if i t i s n o t o f t h e m e d iu m op t e d

a n d A n s w e r Sh e e t i s n ot i n g o o d c o n d i ti o n , a sk f o r c h a ng e i m m e d i a te l y .

3 . T he d ur at io n f or e ac h s es si on o f Te st i s 2 h ou rs .

4 . B e fo r e c o m me n ce m e nt o f t h e T es t , p l e as e f i l l u p t h e n e ce s sa r y i n f or m a ti o n i n t h e s p ac e pr o vi d e db e l ow a n d a l so i n t h e An s we r S he e t.

5 . U se H B P en ci l o nl y t o d ar k en t he c i rc le s f or a n sw er s i n t he A n sw er S h ee t.

6 . A f t e r e ac h q u es t io n , f ou r a l te r na t iv e a n sw e r s a re g i v e n. ( C h oo s e o ne o f t h e a ns w e rs a n d d a r ke n

the appropriate circle against the question number in the Answer Sheet completely, as shown

b e l o w, w i t h H B P e n c i l.

7. A n y a n sw e r m a r ke d / da r ke n ed i n t h e Q u es t io n B o ok l et w i l l n o t b e c o ns i de r ed a n d n o m a r ks w i ll

awarded.

8 . I f a c a nd i d at e wa n ts t o c h a ng e th e an s we r al r ea d y d a r ke n e d, h e s h ou l d e r as e it c om p l et e ly w i th

g o o d q u a l i t y e r a s e r a n d e n s u re t h at n o m a r k i s v is i b l e a f t e r e r a si n g .

I ns tr uc ti on s t o t he C an di da te s a t t he T i me o f C PT

12

ExampleF o r e ac h Q u es t i on N o . 5 2, i f y o u C on s id e r

t h e c o r r e ct a n s w e r t o b e C , m a r k a s s h o w n

below (Correct method):

N o t a s s h o w n b e l o w ( W r o ng m e t h o d )

52

52

52

52

52

A B C D52

A B C D

A B C D

A B D

A B D

A B C D

C

C


21/38

t h9 . F or ea ch c or re c t a ns we r, on e m a rk wi ll b e aw ar d ed . F or ea ch w r on g a ns we r, 1/ 4 o f t he m ar k

e a r m a r ke d f o r e a c h q u e s t io n w i l l b e d ed u c t e d . I f m o r e t h a n o n e c i r c l e i s da r k e n e d f o r a q u e s t i on , it

will be treated as wrong answer. For questions not answered i.e. blanks, a zero will be given.

1 0 . R o u g h w o r k , i f a n y, m u st b e d o n e o n t h e p a g e s s p e c i f i e d a s S P AC E F O R R O U G H W O R K a n d n o w h e re

e l s e i n t h e Q u e s t i o n P a p e r B o o k l e t a n d A n s w e r S h e e t .

11 . W h e n y o u h av e c o mp l e te d , e ve n b e fo r e t im e , r em a i n i n y o ur s e a t. T h e I nv i gi l at o r w il l c o m e to y o u

a n d c o l l e ct b o t h y o u r An s w e r S he e t a n d Q u e s t io n P a p e r Bo o k l et a g a i n s t a c k n o wl e d g e m e nt o n t h ea d m i t ca r d . N o c a n d i d a t e c an l e a v e t h e e xa m i n a ti o n h a l l t i l l t h e e nd o f t h e t es t .

1 2 . C a n d i d at e f o u n d c o p y i ng o r r e c e i v i n g o r g i vi n g a n y h e l p o r d e f y i n g i n st r u c t io n s o f t h e I n v i g il a t o r s w i l l

b e e x p e l l e d f r o m t h e e x a m i n a t i o n a n d w i l l a l s o b e l i a b l e f o r f u r t h e r p u n i t i v e a c t i o n .

13

Roll No.

N am e o f t h e C an di da te

Answer Sheet No.

Question Paper Booklet No.

S i gn a tu r e o f th e C a nd i da t e

W IS H YO U A LL T HE B ES T F OR A S UC CE S SF UL P ER FO RM AN CE

Morning Session

( Se ct io ns A & B )

T i me : 2 Ho u rs Maximum Marks: 100

Total No. of Printed Pages: 24 Question Paper B ooklet Code A

80 133 1


22/38

Th e t h ru s t o f t h is p a r t i s o n t h e k in d a n d q u al i ty o f e f f o r t s n ee d ed t o a c q ui r e k no w le d g e e mb e d de d

i n t h e C A c o ur s e . S t ud y in g c a l ls f o r a c o ns c io u s a n d c o nc e r t ed m e n ta l e f f o r t t o e x am i n e, a n a l ys e

a n d a s s i m il a t e t he c o n te n t s o f a t o p i c , t o r e f l e c t on t h e i r im p l i c a ti o n s an d t o r e t a i n , r e m e m b e r a n d

r e c a l l w h a t a l l i s a s si m i l a t ed . L e a rn i n g ef f e c t i v e s tu d y s k i l l s i s a v e r y i m p o r t a n t co m p o n en t ; h ow e v e r,s t u d y s k i l l s a l o n e w o n ' t m a k e o n e a g r e a t l e a r n e r. T h e f i r s t a n d p r i m a r y g o a l w h e n i t c om e s t o s t u d i e s i s

t o d e v e l op S m a r t S t u d y H a b i t s th a t w i l l n a t u r a l l y p r o m o t e a n d e n h a n c e o n e ' s l ea r n i n g e xp e r i e n ce .

The purpose of studying the various subjects in the CA course by the students is to acquire adequate

knowledge whether it is basic knowledge, working knowledge or expert knowledge, as the case may be,

s o a s t o p e r f o r m w e l l i n t h e e x a m i n a t i o n .

As you sit comfort ably in a serious learning mode and in a conducive study setting, you take up the firstt o p i c , c o ns i s t i ng o f s a y 5 - 1 0 o r m o r e p a g e s i n t h e s u b j e c t o f y o u r c h o ic e f o r s t u d y. G i v e a q u i c k r e a di n g i n

t h e f ir s t i ns t a nc e , si z e up i t s an a to m y a n d w a rm y ou r s el f u p f o r an i n te n si v e, i n -d e p th s t ud y. A s yo u

s t u d y, u n d e r s t a n d t h e d e f i n it i o n s of c o n c e p ts , a n d h i g h l i gh t a n d n o t e t he m d o w n s e p a r at e l y. Y ou a l s o

h a v e t o a n a l y t i c a l l y g r a s p a n d e t c h i n y o u r m i n d s e v e r a l a s p e c t s o f d i s c u s s i o n o f t h e t o p i c , f o r e x a m p l e :

C e n t r a l t h e m e a n d s t r u c t u r e o f t h e t o p i c .

H o w t o S t u d y ?

.

14

Make Your

Study Effective

3


23/38

.

.

.

.

.

.

D es i r ab l e t o m a k e o r ga n iz ed , b r i ef a n d c l ea r n o t es o n a l l t h e i m p or t a n t a s pec t s a s y o u

study

F o r m a S t u d y G r o u p

Various elements of the concepts and the underlying principles and assumptions.

Linkages among the concepts and their facets.

S i m i l a r it i e s a n d d i f f e r e n c es a m o n g t h e c o n c e p t s a n d p r o c e s se s .

S t e p s i n v o l v e d i n t h e v a r i o u s p r o c e s s e s .

C a u s e a n d e f f e c t r e l a t i o n sh i p a m o n g t h e i d e a s a n d d i s c u ss i o n s .

C h a r a c te r i s t i c f e a t u re s o f a s i t u at i o n .

You may prepare a set of small, simple graphics to depict some of the above aspects, so as to gain moreu n d e r s t a n di n g . A l s o , f r a m e a f e w r e l e v an t s m a l l q u e s t io n s a n d p r o b l e m s a n d s p e l l o u t a n s w er s a nd

s o l u ti o n s . T h is w i l l c l a r i fy y o u r t h in k i n g b e t te r . R el a t e w h a t y ou h a v e a l r e ad y k n o w n o n t h e t o p i c w i t h t h e

n e w i n si g ht s , i f a n y. A s k y o ur s e lf w h e th e r w h at y o u r e ad m a ke s s e ns e . Yo u c a n t r y ' h um a ni z in g ' t h e

m a tt e r of y o ur s t ud y b y t h in k in g o f a f e w e xa m pl e s i n r e al l i fe , a f e w h um a n c h a ra c te r s a nd r o l e pl a ye r s .

R e a d a g a i n t h o s e a s p e c ts a nd a r e a s w h i c h y o u h a v e n o t a d e q u a te l y u n d e r s t oo d ; pr e p a r e a l i s t of s u c h

a r ea s w hi c h y o u ha v e st i ll n o t un d e r st o od e v en a f t e r e xt r a e f f o r t , so t h at y o u ma y q u ic k ly r e fe r t o o t he r

s o u r c e s, l i ke a t e x t - b oo k , f r ie n d s , s e n i o r s, t e a c he r s e t c . I n a t o p i c , e a c h a n d e v e r y p o i n t o r a sp e c t m ay

n o t b e e q u a l ly i m p o r t a n t . S o m e m a y b e m o r e i m p o r t a n t a n d t h e o t h e r s l e ss ; s e g r eg a t e t h e f o r me r f r o m

t h e l a t t e r a n d a l s o f r o m n e e d l e s s d e t a i l s a n d p e r i p h e r a l a r e a s .

After you finish studying the topic, take a pause for a while to reflect and recall in an organized manner

t h e i n te g r a t e d p i c t u re o f w h a t yo u h a ve u n d e r s t oo d . L o o k b a c k i n to t h e m at t e r a g ai n t o c h e c k w he t h e r

you have been able to recall all the import ant aspects of the topic. Make a simple summary in writing of

what you have learnt at the end of the notes.

As you progress in the coverage of different topics of the subject, adopt the practice with a sense of

d e t e r m i n a t i o n a n d d r i v e , w h i c h w i l l d e f i n i t e l y h e l p y o u i n t h e e x a m i n a t i o n s .

There is a strong case for forming a small study group in the neighbourhood. The group may engage in

c o l l e c ti v e s t u d y a n d l e a r n in g o f t h e v a r i ou s t h e o r et i c a l a n d p r a c t i c al s u b j e c ts . T h e y m a y a s s e m bl e a t a

p l a c e f re q u e n tl y ( t w i c e i n a w e e k , f or e x a m p le ) , e x c ha n g e f e ed b a c k o n t h e i r st u d i e s , u n d e r s t o od / n o t

u n d e r s t oo d d u r i n g t he l a s t f e w d a y s, t r y t o c l e a r d o ub t s , r e i nf o r c e t h e i r kn o w l e d ge c o l l e c t iv e l y, s e t a

q u e s t io n p a p e r b y t h e m s e lv e s a n d a t t e m pt i t u n d e r e x a m i n at i o n c o n d i ti o n s , e x c h a ng e t he a ns w e r

p a pe r s f o r ' pe e r' e v al u at i on a n d f e e db a c k a nd s o o n . T he s e e xe r c is e s ha v e a s y ne r g is t i c va l ue i n t h e

15


24/38

s e ns e t ha t t he a m o un t o f k n ow l e dg e a c qu i re d c o ll e ct i ve l y i s m o re t h an t h e su m o f t h e a mo u nt s o f

k n o w l e d g e a c q u i r e d i n d i v i d u a l l y . O n e c a n a l w a y s l e a r n m o r e b y l e a r n i n g t o g e t h e r .

The study group may also act as a social group for brief relaxation oriented fun sessions to drive away

t r a c e s o f s t r e s s , f e a r s a n d f r u s t r a t i o n s o f g r o u p m e m b e r s .

S u cc es sf ul s tu de nt s h av e g oo d s t ud y h ab it s. T he y a pp l y t he se h ab it s t o a ll o f t he i r c l as se s a nd

assignments:

I f y o u t r y t o d o t o o m u ch s t ud y i ng a t o n e t i m e, y ou w il l t i re a nd y o ur s tu d yi n g w i ll n o t b e ve r y e f f e c ti v e.

S p a c e t h e w o r k y o u h av e t o d o o v e r s h or t e r p e r i o d s o f t i m e . Ta k i n g s ho r t b r e a k s w i l l r e s t o r e y ou r m e n t a l

energy.

S t u dy t i me i s a ny t i me y o u ar e d oi n g so m e th i ng r e l at e d t o y o ur c o ur s e wo r k . It c a n b e c om p l et i ng

a s si g n ed r e ad i ng , w o rk i ng o n a p a pe r o r p r oj e ct , o r s tu d yi n g f or a t e s t. S c h ed u l e sp e c if i c t i me s

throughout the week for your studytime.

S t u d y i ng a t t h e sa m e t im e e a ch d a y e s t a b l i sh e s a r o u t i n e t h a t b e c o m e s a r e g u l ar p a r t of y o u r l i f e , ju s t

l i ke s l e ep i n g an d e a ti n g. W h e n a s c h ed u le d s t ud y t i m e c om e s u p d u ri n g t he d a y, y o u w i ll b e m e n ta l ly

p r e p a r e d t o b e g i n s t u d y i n g .

G o a l s w i l l h e l p y o u s t a y f o c u se d a n d m o n i t or y ou r p r o g r e s s. S i mp l y s i t t in g d ow n t o s t u d y h a s l i t t l e v a l u e.

You must be very clear about what you want to accomplish during your study times.

You may delay starting your studying because you don't like an assignment or think it is too hard. A delay

i n s t u d y in g i s c a l l e d " p r o c r a s ti n a t i on . " I f y o u p r o c r a s t in a t e f o r a ny r e a s on , y ou w i ll f i n d i t d i f f i c u l t t o g e t

e v er y t h in g d o ne wh e n y o u n e ed t o . Y ou ma y r u sh t o m a ke u p t h e t i me yo u w a st e d g e t ti n g s t a r t ed ,

The Nine Study Habits of Successful Students

1 . Tr y n ot t o d o t oo m uc h s t u dy in g a t o ne t im e

2 . P la n s p e ci f ic t im e s fo r s tu dy in g

3 . Tr y t o s tu dy a t th e sa me t im e ea ch d ay

4 . S et s p ec i fi c g oa ls f or s tu d y t i me s

5 . S t ar t s t ud yi ng w he n p l a nn ed

16


25/38

r e s u l t i n g i n c a r e l e s s w o r k a n d e r r o r s .

Your most diff icult assignment will require the most effor t. Start with your most diff icult assignment

since this is when you have the most mental energy.

R e v i ew i n g y o u r n o t es c a n h e l p y o u m a k e s u r e y o u a re d o i n g a n a s s i gn m e n t c o r r ec t l y. A l s o , y o u r n o te s

m a y i n c l u d e i nf o r m a ti o n t h a t w il l h e l p y o u c o m pl e t e a n a s s i gn m e n t .

Two study problems can occur if your friends call you during your study times. First, your work is

i n t e r ru p t e d . I t i s n ot t h a t e a s y t o g e t b a c k t o w h a t y ou w e r e d o i n g. S e c o n d , y ou r f r i e n ds m a y t a l k a b o u t

t h in g s t h at w il l d i s tr a c t y o u f r o m w h at y ou n e ed t o d o . He r e 's a s i m pl e i de a - t u rn o f f y o ur c el l p h on e

d u r i n g y o u r s t u d y t i m e s .

Yes, weekend should be fun time. But there is also time to do some review including consultation with a

f r i e n d . T h i s w i l l h e l p y o u b e r e a d y t o g o o n .

S tu dy i n a q u ie t pl ac e th at i s f re e fr o m d i st r ac ti on s a nd i nt er ru p ti on s. Tr y t o c re at e a s pa ce

d e s i g n a t e d s o l e l y f o r s t u d y i n g .

M ak e a s tu dy s c he d ul e t ha t s ho ws wh at ta sk s y ou ne e d t o a cc om p li sh a nd w he n y ou p l an t o

a c c o m p l i s h e a c h t a s k . T h i s w i l l p r o v i d e y o u w i t h t h e s t r u c t u r e y o u n e e d f o r e f f e c t i v e s t u d y i n g .

Try to study at that time of the day you work best. Some people work well early in the morning, others

late at night. You know what works best for you.

M a k e s u r e, y o u a r e n o t t ir e d a n d / o r h u ng r y w h e n y o u s t u d y. O t h e r w i s e , y ou w o n ' t h a ve t h e e n e r g y

you need to concentrate. Also, maintain your physical fitness.

D on 't tr y t o d o t wo t a sk s a t t he sa m e t im e . Yo u w on 't be ab l e t o c on ce nt r at e o n e it he r.

C o n c e nt r a t i o n m e a n s f o c u si n g o n o n e t h i n g t o t h e e x cl u s i o n o f a l l e l s e .

B r ea k l ar g e t as k s i n to s e ri e s of s m al l er t a sk s th a t y o u c a n c o mp l e te o n e a t a t i m e. I f y o u t r y t o

c o m pl e t e a l a r ge t a sk al l a t on c e, y ou m ay f e e l o v er w h e lm e d a n d w i l l n o t b e ab l e t o m a in t a in y o ur

concentration.

R e l a x; i t ' s ha r d t o c o n c e n tr a t e w h e n y o u ' r e t e n se . I t ' s im p o r t a n t t o r e l a x w h e n w o r k i n g on a t a s k t h at

6 . W o rk o n t h e as s ig n m en t yo u f i n d m o s t d if f i c u lt f i r st

7. R e vi e w yo u r no t es b e f or e b e gi n ni n g an a s si g nm e n t

8 . Te ll f ri en ds n ot t o c a ll d ur in g st ud y t i m es

9 . R ev ie w ov er th e w e ek en d

Im pr o v i ng C o nc e nt r at i o n.

.

.

.

.

.

.

17


26/38

r e q u i re s c o n c e n t r at i o n . M e d i t a ti o n i s h e l p f u l t o m a n y s t u d e n t s .

C l e a r yo u r m in d o f w o r r is o m e t ho u g h t s. M e n t al p o i s e is i m p o r t a n t fo r c o n ce n t r a t io n . Yo u c a n g e t

d i s t r a c te d b y y o u r o w n t h o u g ht s . M o n it o r y o u r t ho u g h t s a nd p r e v e nt y o u r s e l f f r o m f o l l o wi n g a n y t h a t

t a k e y o u o f f t r a c k . D o n ' t d a y d re a m .

D e v e l op a n i n t e r e st i n w h a t y o u a r e s t u d y i ng . Tr y t o r e l a t e w h a t y o u a r e s t u d y i ng t o y o u r o w n l i f e t o

make it as meaningful as possible. This can motivate you to concentrate.

Take breaks whenever you feel fatigued. There is no set formula for when to take breaks. You will

k n o w w h e n y o u n e e d t o t a k e a b r e a k .

S t u d y in g w i t ho u t c on c e n t r at i o n i s l i k e t r y i n g t o f i l l a b u c k e t wi t h w a t e r w h e n t h e b u c ke t h a s a h o l e i n

its bottom. It doesn't work.

C o n c e nt r a t i o n o f m i n d i n i n t e n si v e l e a rn i n g h el p s t h e s t u d e n t t o q u i c k l y c o m p r e h e n d t h e s t ud y m a t t e r t o

t he r eq ui re d e xt en t, a s al so t o r em em b er i t on a d ur a bl e b as is f or p u rp os es o f p re se nt a ti on a nd

c o m m u n ic a t i o n a t t h e a p p r o p r i at e o c c a s i o n. I n o t h e r w o r d s , i t i m p r o v e s t h e e f f i c i e n c y a n d e f f e c t i v e ne s s

o f l e a r n i ng . T h e r e a re a f e w s i m p l e wa y s t o i m p r o v e o n e ' s m e m or y s k i l l , wh i c h a r e l i s te d b e l o w :

The students should have a high degree of patience for repetitively solving practical problems in thec o n c e rn e d s u b j e ct s so t h a t t h e w h o l e m e c h a n ic s of t a c k l i n g a n d p r o c e s si n g an y t y p e o f p r o b l e m s g e t

p r i nt e d i n t h ei r m i n d. T h ey w i l l b e h i gh l y c o mf o r t a bl e i n t h e e x am i n at i on h a ll i n a t te m p ti n g p r a ct i c al

q u e s t io n s . S o f a r a s t h e o r e ti c a l q u e s t io n s a r e c o n c e rn e d , r e m e m b er i n g v a r io u s p o r t i o n s o f s t u d i e s i s

p o s s i bl e , i f t h e y m a k e s e ve r a l q u i c k r e a di n g s a n d r e v i si o n s a f t e r t h e f i r s t r o u n d o f i n t e n si v e l e a r ni n g .

I f a s t u d e n t p r e p a re s s y s t e m at i c n o t e s o n a l l t h e t o p i c s a n d k e e p s t h e m i n a n o r d e r l y m a n n e r a n d r e f e r s

t o t h e m f r eq u e n t ly , hi s / h e r ab i l i t y t o r e m e m b e r t h e s t r uc t u r e of t h e m a tt e r w i l l b e g o o d . Th e p r o c e ss o f

r e c a l l i n g f r o m t h e m e m o r y a n d p r e s e n t i n g t h e m a t t e r i n t h e e x a m i n a t i o n a r e e a s y s t e p s .

This is an easy and popular method of sharpening one's memory power. You observe a small scene, a set

o f t hi ng s a t a p la ce , th e ti tl es of b o ok s in a s ma ll b oo k r a ck , th e he ad i ng s o n t he f ir s t p ag e of a

n e w s p ap e r e tc . f or a v e r y s h o r t w hi l e , t h e n c l o s e y o u r e y e s a n d r e c a l l w h a t y o u h a v e o b s e r v e d a n d r e a d ,

c o u n t ho w m a n y i t e m s y ou w e r e a b l e to r e c a l l. S h a r p e n in g t h e p o we r o f o b s e r v a t io n b y r e g u l a r p r a c t i c e

i s o n e w a y t o s h a r p e n o n e ' s m e m o r y p o w e r al s o .

.

.

.

.

D e v e l o p i n g a G o o d M e m o r y

Intensive Practice

Be Well-organized

Observation

18


27/38

G r o u p D i s c u s s i o n

Schematic Presentation

O t h e r i m p o r t a n t A s p e c t sD ev el o p D eep L o v e, In t er es t a n d Res p ec t f o r L ea r n i n g

K e ep y o ur M in d O p en a n d H e a l t hy

K eep y o u r s el f P h y s i c a l l y F i t

As stated earlier, formation of study circles and study groups for purposes of collective study and

d i s c u ss i o n a r e a p o w e r f u l m e a n s o f i m p r o v e d l e a r n i ng . S e ri o u s di s c u s si o n s a n d i n t e n si v e e xc h a n g e o f

views and insights on the things learnt, as also collective solution of practical problems are import ant

ways of remembering various theoretical and practical topics.

Another technique for improving memory is through use of tables, bullet points, diagrams, flow charts,

c i r c l e s e t c . r e la t i n g t o t h e m a in c o n t e nt s o f t h e s ub j e c t m at t e r. I n a d d i t io n , t he f o r m at i o n o f t h e m e mo r y

c od es b y c h oo si n g ke y w or d s an d c h ar a ct er s f r om t h e te xt c o nt en ts w i ll a ss is t i n e as y r ec al l a nds e q u e n t i a l p r e s e n t a t i o n o f a n s w e r s i n t h e e x a m i n a t i o n s a n d t o i m p r o v e m e m o r y p o w e r .

This is a matter of emotions and attitudes. Most students are in love with something or the other. So is

t h e c a s e w i th i n t e r e st a n d r e s p e c t. T h e y r e s p e c t th e i r p a r en t s a n d o t h e r e l de r s , t e a c h e r s a nd o t h e r w e ll -

wishers. Similarly, they can be presumed to have a few interests or hobbies, capacity for emotions like

l o v e , i n t e r es t a n d r e s p e c t a r e th u s in t h e b lo o d o f m o s t hu m a n s, i n c l ud i n g s tu d e n t s. T hu s , wi t h a l i t t l e

e f f o r t , i t s h o u ld b e p os s i b l e f o r s t u d e n ts to d e v e l op a d e e p l o v e , i n t e r e st a n d r e s p e c t f o r t h e i r s t u d i e s

a n d d i f f e r e n t su b j e c t s. I t i s o nl y a m a t t e r o f e x t e nd i n g t he a b o ve m e n ti o n e d e m o t i on s t o s t u d i es w h i ch

a r e i n f a c t m o r e c r i t i c a l t h a n e v e r y t h i n g e l s e f o r t h e i r s u r v i v a l a n d s u c c e s s i n l i f e .

O u r m i n d h a s a n e n o r m ou s c a p a ci t y f o r a b s or b i n g k no w l e d g e, i d e a s an d i n f o r m at i o n . Th e r e f or e , o n e

s h ou l d n o t f or e cl o se a n y o p p or t u n it y f o r l e ar n in g n e w t hi n gs o r r e l ea r ni n g a lr e ad y k n ow n m a tt e r s.

S t u d e nt s , e s p e c i a ll y , s h o ul d b e r e c e p t i v e a n d r e s p o ns i v e t o a c q u i re t h e r e q u i re d a m o u n t o f k n o w l ed g e .

An open, receptive and healthy mind is a prerequisite for concentration on studies. A regular meditationf o r a f e w m i n u t e s m a y h e l p t h e s t u d e n t t o t r a i n t h e m i n d t o r e m a i n c o o l , c a l m , c l e a n a n d c l e a r .

P h y si c a l f i t n e s s a n d h e a l t h a r e o n e o f t h e e s s e n ti a l p r e - r e q ui s i t e s f o r c o n c e nt r a t i o n o n s t u d i e s, a s f o r

a n y o t h e r a c t i vi t i e s . I f y o u a r e p h y s ic a l l y f i t , yo u r m i n d w i l l a l s o b e al e r t a n d a c t i v e . T h e s e c r e t o f k e e p i ng

o n e s el f p h y s ic a l l y f i t a n d h e a l t hy i s v e r y s i m p l e : e a t h e al t h y a n d e n e r g y -g i v i n g f o o d i n m o d e r a te qu a n t i ty

19


28/38

at regular intervals. Do regular physical exercises including Yoga Asanas, brisk walking or jogging, deep

b r e at h in g e tc . f or a b r ie f p e r io d d a i ly . T h es e ex e r ci s es w il l a l so h e lp r e du c e yo u r p h ys i ca l a n d m e nt a l

s t r a i n a n d s t r e s s a n d m a i n t a i n y o u r e q u i l i b r i u m .

The mind should not be kept too busy all the time, whether on studies or something else. It is necessary

t o a l l o w t he m i n d t o l i b e r a te i t s e l f f r o m s e r io u s m a tt e r s f o r a w h i l e a t r e g u l ar i n t e r v a l s; r e l a xa t i o n , re s t

a n d r e c r e at i o n a r e l i k e r i c h f o o d f o r m i n d s i n c e t h e y i n f u s e t h e m u c h n e e d e d e n e r g y a n d f r e s h ne s s . T h e r e

a r e s e ve r a l w ay s t o e x p er i en c e r e l ax a ti o n a n d r e c re a ti o n: s l ee p i ng , d e e p b r e at h in g , w a tc h i ng u s ef u l

e d u c a t io n a l p r o g r a m m e s o n T V , r e a d i ng l ig h t n o v e ls an d o t h e r g e n e r a l b o o k s, p la y i n g w i t h c h i l d r en ,e a rl y m o rn i ng w a lk , vi s it s t o u n cr o w de d p l a ce s o f w o r sh i p e t c. H ow e ve r, e ac h s t ud e n t h a s h i s ow n

N eed f o r Rel a x a t i o n a n d Rec r ea t i o n

20


29/38

Th i s s e gm e n t c o ve r s a f e w d o s a n d d o n ' t s f o r s t u de n t s t o h e l p t h e m s m oo t h - s ai l t h r o u g h t h e c r u c i a l

c l i m a x s c e n e t h e f o u r h o u r s e x a m i na t i o n t i m e . I n a w a y, t i p s f o r g o o d e x a m i n at i o n p e r f o r m a n c e

c a n b e s u mm a r i z e d i n t o 4 S s : S i n c e r e, S t ud i o u s , S y s t e m at i c a nd S m a r t . T h e s e a r e th e f o ur p i l la r s

o v e r w h i c h o n e c a n b u i l d u p h i s s a g a o f s u c c e ss a s a s t u d e nt . A n y s e a r c h f o r s h o r t - c u ts t o s u c c e ss w i l l b ea s f u t il e a s a w i l d - g oo s e c h a se . T h e e xa m i n a ti o n s y s t e m o f t h e I n s ti t u t e i s o n e o f t h e b e s t s y s t e m s i n

I nd ia a nd i t h as m a i nt a in ed v er y h ig h s t an da r ds o f i nt eg ri ty, c o nf i de nt ia li ty a nd c re di b il i ty o ve r t he

years. It seeks to test the multifaceted knowledge which a chartered accountant is expected to have.

H e r e a r e c e r t a i n g u i d e l i n e s t o h e l p y o u g e t t h r ou g h t h e e x a m i na t i o ns :

The study material would help you to develop a strong conceptual base. They give you the parameters

within which you have to study. Make it a habit of going through them thoroughly as these will enable to

u n de r s t an d t h e b a si c co n ce p t s o f t h e s u bj e ct s an d d e ve l op y o ur a bi l i ty i n u n de r s t an d in g d if f e r en t c o nc e p ts a nd a p p li c at i on s . B e si d e s, d o r e fe r to a t l e a st o ne s t an d ar d t e xt b oo k an d s o lv e al l t h e

i l l u s tr a t i o n s a n d p r o b l e m s t h e r e in . T h i s w i l l f u r t h e r b u i l d y o u r c o n c e pt u a l c l a r i ty o f a p a r t i c u l a r s u b j e c t

a n d s t r e n g t h e n y o u r p r o b l e m s o l v i n g s k i l l s .

Rea d S t u d y M a t er i a l T h o r o u gh l y

21

P re p ar i ng f o r E x am i na t io n

- A Systematic Approach

4


30/38

Practice, Practice andPractice

Develop Your Learning Style

S t a y F o c u s s ed

.

.

.

P r a ct i c e m ak e s a m a n p e r f e ct . S t ud e n ts m u s t p ra c ti c e a s m uc h a s p o ss i bl e . M an y s t ud e n ts s t a r t

practicing from various books without first unders tanding the subject and the concepts involved. This

a p p ro a c h i s a b so l ut e ly w r o ng . Y ou n e e d t o m a ke y o u r b as e f i r s t a nd t h en s t a r t p r ac t i ci n g. T h e M C Qs

g i v e n a t t h e e n d o f e a c h c h a p t e r a n d M o d e l T e s t P a p e r s w i l l b e o f g r e a t h e l p t o y o u i n t h i s r e g a r d .

The more you practice, the better engraved will be concepts in your mind. Don't indulge in selective

r e a d i n g ; n o p a r t o f t h e s y l l a b u s i s l e s s i m p o r t a n t a n d l e a v i n g a n y p o r t i o n c o u l d b e f a t a l .

B e f a m i li a r w i th y o u r le a r n i ng s t y l e. E v e r y o ne l e a r ns i n d i f f e r e n t wa y s . I f y o u kn o w y ou r o w n l e a r n in g

s t y l e , t h e n y o u h a v e t h e ca p a b i l it y t o o b s e r v e ot h e r s . D i s c u ss a l te r n a ti v e s w i t h f r i e n ds o r w i t h f e l l o w

s t u d e n ts y o u m ig h t b e s u r p r i se d a t w h at y o u f i n d o u t . Ar m e d w i t h t h e s e in s i g ht s , c h al l e n g e y o u r s e lf t o

t r y s o me n ew t ri c ks . On c e y o u u n de r s t an d t h e s t yl e in w h ic h y o u m o s t e f f e ct i ve l y l e a rn , yo u wi l l

e x p e r i e n c e t h e m o s t e n j o y a b l e a n d w e l c o m e f e e l i n g t h a t o f b e i n g i n c o n t r o l .

I t s h o u l d b e c l e a r f r o m t h e a b o v e t h a t C A e x a m i n at i o n s a r e q u a li t a t i v el y d i f f e r e n t a n d m o r e d e m a n di n g

t h a n t h e G r a d u a te a n d U n d e r g r a du a t e e x a m in a t i o ns c o n d u c te d b y t h e U n i ve r s i t i e s. T h e a t t i tu d e s a n da p p r o a c he s o f C A s t u d e n ts t o t h e i r e d u c at i o n al t r a i n in g s h o u l d a c c o r d in g l y b e d i s t i n c t ly p r o f e s s io n a l .

After committing oneself to an early start, students should take a good look at the syllabus for each

s u b j e c t a n d u n d e r s t a n d t h e m aj o r a im , t he m e , l ev e l o f k n o w l ed g e e x pe c t e d a n d t h e c on t e n ts . T h ey m a y

jot down what they understand of the syllabus in the relevant file. A careful survey of the syllabus and

s t ud y m a t er i al c o nt e nt s w i l l e n ab l e t h e s t ud e nt t o s i ze u p , o n a r o u gh b a si s , t h e t o t al m a g ni t ud e o f

s t ud y t a s k t o b e c o mp l e te d w i th i n t h e a l lo c at e d t i me f o r e a c h s u bj e ct w i th a c o mp u l so r y p r o vi s io n f o r

adequate revision, two or three times, before the examination.

I t n e ed s t o b e e m p h as i z e d t h a t th e r e ar e n o m a g i c f or m u l a e , q u i c k -f i x s o l u ti o n s or s o f t s ho r t c u t s fo r

p a s s i ng C A e x a m i na t i o ns o r a n y o t h e r e x a m i na t i o n . S t u d e nt s w o u l d b e w el l - a d v is e d t o e x a m i ne t he

s u g g e st i o n s w i t h a c r i t i ca l , o p e n - m i nd e d p e r s p e c t iv e an d f o l l o w t h o s e w h i c h t h e y j u d g e t o b e n ea r e r t o

t h e i r h e a d a n d h e a r t .

M a k e g o a l s : l o n g / m e d i u m a n d s h o r t t e r m a n d s t i c k t o t h e m .

M a k e a t i m e t a b l e d e p e n d i n g u p o n y o u r a p t i t u d e a n d t h e t i m e a v a i l a b l e .

M a i n t a i n a s t r i c t r e g i m e n o f s t u d y .

22


31/38

.

.

.

Rev i s e a n d Rev i ew

First Reading

S e c o n d R e a d i n g

Third Reading

Visit Board of Studies Knowledge Portal

S t u d en t s ' J o u r na l a n d O t h er P u b l i c at i o n s

Attempt Model Test Papers

Understanding the fundamentalconcepts is more important thanmaking notes.

Cut out disturbing factors like TV, Internet, mobile phones etc.

Take shor t break after each hour of study.

I t i s ve r y i m p o r t a n t t o s t u d y t h e r e ad i n g m a te r i a l s a t l e a st 3 t o 4 t i m e s . T h i s w ou l d i n c l u d e:

This will be more like a novel reading to gain overview;

This will be in-depth study where concepts emerge; and

This will be very intensive reading to fully understand the concept and to underline import ant points to

b e r e v i s e d o n e x a m i n a t i o n d a y .

M a k e it a h a b i t o f v i s i ti n g t h e B o a r d o f S t u d i e s K n o w l e dg e P o r t a l . It c o n t ai n s a ll t h e e d uc a t i o na l i n p u t s

o f t he Bo ar d o f S tu di es l ik e l at es t s tu dy m at er ia ls a nd m od el t es t p ap er s. It al so c on ta in s

announcements like relevant list of publications, Accounting Standards and Standards on Auditing etc.

applicable for the examination.

The Students' Journal is another form of disseminating import ant information as it provides quality

a r t i c l e s a n d a c a d e m i c u p d a t e s t h a t w i l l h e l p y o u i n p r o f e s s i o n a l g r o w t h .

M o de l Te s t P a pe r s a r e a n e s se n ti a l t o ol a s t h e y h e lp y o u u nd e r s t an d t h e p a tt e rn o f q u es t io n s. P r a c t ic e

with as many different papers as are available. Try to arrange mock examination test on your own. Give

yourself time to read through the questions before you star t working out how much time you can allocate

t o e a c h o n e . A nd s e t t h e s am e s t r i c t t im e l i m i t f o r t he w h o l e p a p er , f r o m s t ar t t o f i n i s h , a s th e o r i g in a l

e x am i na t io n a l lo w e d. I t i s h o p e d t h at t h i s p r ac t ic e w i l l d o w o nd e r s i n t h e p re p a ra t io n f o r y ou r a c tu a l

examination.23


32/38

Time Management

M o m e nt o f R e c k o ni ng : P r e s e nt at i o no f A ns we r s

.

.

.

.

.

.

.

.

.

.

A Word of Caution

.

.

A judicious management of time is a must as preparation needs to be sustained for long. This is quite

c h a ll e ng i n g a nd c a ll s f o r a v e r y i n te l l ig e n t s t ra t eg y t o h a nd l e . R ea c h e x am i n at i on h a ll w e l l i n t i me . P l a n

your time so that equal time is awarded for each mark. Keep sometime for revision as well.

F o l l o wi n g p o i n t s d e s e r v e a s p e c i al m e n t i on :

Avoid coming late for the examination.

R e l a x b e f o r e t h e e x a m i n a t i o n ; m i n d w o r k s w e l l w h e n i t i s i n a r e l a x e d s t a t e .

Attempt those questions first which you are confident about.

R e a d t h e q u e s t i o n v e r y c a r e f ul l y b e f o r e y o u l oo k a t t h e a n sw e r .

Always bear in mind that all questions carry equal marks: hence no need to waste time in attempting

d i f f i c u l t a n d t i m e t a k i n g q u e s t io n s f i r s t .

S o m e t i me s , c h o i ce s g i v e n i n t h e e x am i n a t io n a r e v e r y c l o s e a nd c o n f u si n g , s o w h i l e a tt e m p t i ng t h e

q u e s t i o n c a r e f u l l y r e a d a l l t h e c h o i c e s b e f o r e m a r k i n g y o u r a n s w e r .

D o n ' t e ve r r e s o r t t o u n f a i r a nd o b j e c t io n a b l e m e an s d u r i n g t he e x a m i n at i o n t i m e l i k e c o ns u l t i ng

r e a d i ng m at e r i a l o r ot h e r s t u d e n ts , t r y i n g t o p e e p i n t o o t h e r 's an s w e r b o o k s e t c . , w h i c h m a y l a n d

you into trouble. A decent and dignified behaviour by each one of you will enhance the esteem andi m a g e o f t h e e n t i r e C A s t u d e nt c o m m u n i t y.

C a r e f u l l y r e a d t h e I n s t i t u t e ' s r u l e s a n d i n s t r u c t i o n s o n e x a m i n a t i o n a n d c o m p l y w i t h t h e m .

D o n o t m a k e a n y d i s t i n g u i s h i n g m a r k / a p p e a l i n t h e p a p e r .

D o n o t p a n i c . C o o l l y a t t e m p t a l l q u e s t i o n s a n d u n d e r n o c i r c u m s t a n c e l e a v e t h e h a l l i n b e t w e e n .

A critical assessment of the performance of the students shows that they have not been very sincere and

s t r a t e g ic w i t h r e g a r d t o t h e v a r io u s p a pe r s i n t h e e x a mi n a t i on s . H o we v e r, t h e f o l l ow i n g p o i nt s s h o ul d

s e r v e a s a w a r n i n g t o C A s t u d e n t s :

The depth of the knowledge of a large number of students is shallow and is based on short

n o te s , b o ok l et s a n d o r a l e d uc a ti o n p r o vi d e d i n t h e c o ac h in g c l as s es i n v a ri o us p a r t s o f t h e

country.

A large number of students failed to study the latest edition of the Institute's study material and

o t h e r m a t e r ia l s r e l e v an t t o t h e s u b j e ct . I t i s a m u s t t o r e a d t h e I n s t i tu t e ' s m a t e r i al a t l e a s t 3 t o

4 t i m e s a n d u n d e r t a k e p r a c t i c al s o l u ti o n f o r e n s u ri n g s u c c e ss .

24


33/38

.

.

I t m ay b e n o te d t h a t t h e In s t i t ut e i s c o m m i t te d t o e n s u re t h at o n l y t h o s e s t u d e nt s , wh o s e c o n c e pt s

a r e c l e ar a n d w h o k n ow p r a ct i c al a p p li c at i on o f t h e c o nc e pt s a n d l a ws i n v a ri o us s i tu a ti o ns ,

clear the examination.

There is no substitute to self study and unless all the theoretical and practical portions of the

syllabus are gone through, success cannot be guaranteed.

An attempt has been made in the preceding paragraphs to explain to students the kind and quality of

t h i n g s t h e y h a v e t o d o t o p r e p a re f or an d p e r f o r m w e l l i n C A e x a m i n at i o n s . T h e p u r p o s e o f e x p l a in i n g a l l

t h i s i s si m p l e . I t is t o h e l p s t u d e n ts u nd e r s t a n d t h a t p a s s i ng t he C A e x a m i na t i o n i s w it h i n e a s y r e a c h o f

a l l C A s t u de n ts . T h e r oa d t o s u cc e ss i s s t r a ig h t a nd s m oo t h n o s h ar

Ace Cpt Icai

Documents

Transcript of Ace Cpt Icai