Analysis of CA Final Accounts Paper. ICAI hasits own style of celebrating Diwali. Final accounts paper had atom bomb, rocket, fuljhadi, Anar, Chakri, etc , all that you can visualise. Feedback from students in general is that the paper was difficult. To console such students, yes, you are right to some extent. There were 16 printed pages, even 15 minutes were not enough to read the paper, I took approximately 30 minutes to only read the paper. Weightage on Accounting Standards 42 marks and guidance notes 10 marks. I always tell the students not to ignore accounting standards and guidance notes. This time many new questions were designedby ICAI, not seen before. Some of the questions were repeated, e.g., valuation of goodwill, consolidated financial statements, AS 19, AS 24, AS 30, GVA, Share based payments, but, ICAI, changed few adjustments or added few more adjustments.In valuation of goodwill, it seems ICAI has given all possible adjustments asked in last 20 years in one problem. Similarly, in CFS problem, there is multiple acquisition, pre acquisition divident, bonus share, preference share, rectification of error, abnormal transaction, all-in- one. Question 1 (d), for fivemarks covers one full page, I think some students would have got terrified to see the question only.I agree with the students that solving such problem in 3 hours would be a bit difficult. But, who told you CA final papers are easy?My advice to current examinees is focus on tomorrow, not on yesterday. Dont start planning for the next class you would join. Revise, revise and revise. My advice to future aspirants- dont keep topics for option and have more writing practice. Learn to READ FAST, THINK FAST, AND SOLVE FAST. Wishing you all the very best, may you achieve what you dream of....
Posted on: Tue, 05 Nov 2013 19:19:14 +0000