IPCC Notes GMCS ITT Time Table Syllabus Amendments RTP Suggested Answers
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Electricity Companies Excluded from CA IPCC Syllabus Nov 2015

Electricity comapnies chapter excluded syllabus ca ipcc.jpgElectricity Companies Excluded from Syllabus applicable for Nov 2015 exams:


The topic of “Financial Reporting of Electricity Companies” would be excluded from the syllabus of Intermediate (IPC) Paper 5 : Advanced Accounting and the same would not be applicable from November, 2015 Examination.
It is further clarified that these topics were permenantly excluded from CA IPCC syllabus and will not be applicable for exam there after.

Additional Director
BOS, ICAI
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General Meetings Companies Act 2013 Procedure


Annual General Meeting Companies Act 2013 Convening the Meeting Proxy Chairman Frequency Voting Quorum

Points on CONVENING A MEETING

Authority to call general meeting: Board of Directors. If they fail, any Member of the company may approach the prescribed authority, which may then direct the calling of the Annual General Meeting of the company.

Authority to call Extra-ordinary general meeting: Board of Directors whenever deems fit or on the requisition of Members call an Extra-ordinary General Meeting of the company.

Notice: Notice in writing of every Meeting shall be given to every Member of the company, Directors, Auditors, Secretarial Auditor, Debenture Trustees, or to other specified persons. Display 
notice on company’s website.

Notice of Extra Ordinary General Meeting Companies Act 2013Notice shall be sent by hand /ordinary post/ speed post/registered post/courier/ facsimile/e-mail or other electronic means. (use a system which produces confirmation of total number of recipi
ents e-mailed and a record of each recipient to whom the Notice has been sent and copy of such record and any Notices of any failed transmissions and subsequent resending shall be retained by or on behalf of the company as ‘‘proof of sending’’.)

If a Member requests for delivery of Notice through a particular mode & he paid fees for that notice shall be sent to him in such mode.

Notice shall specify the day, date, time and full address (including route map and prominent land mark) of the venue of the Meeting.

Meetings hours: 9 a.m. to 6 p.m., not a National Holiday. Meeting called by the requisitionists: only on a working day.

AGM & Meeting called by requisitionists shall be held either at registered office or other place within the city/town/village in which the registered office is situated. Other General Meetings may be held at any place within India.

Notice may contain a statement that a Member entitled to appoint a Proxy. Further it specify the nature of the Meeting, business to be transacted thereat, resolution for each special item along with explanatory statement, resolutions are not required for Ordinary business except where the Auditors or Directors to be appointed are other than the retiring Auditors or Directors, as the case may be.

Disclose interest of any director, KMP, relatives of such in explanatory statement. If any item of Special Business to be transacted at a Meeting relates to/affects any other company, the extent of shareholding interest in that other company of every Promoter, Director, Manager, KMP of the first mentioned company shall, if the extent of such shareholding is not less than 2% of paid-up share capital of that company, also be stated in the explanatory statement.

If reference is made to any document, the MOA or AOA, explanatory statement shall state that such documents are available for inspection during specified business hours at the Registered Office and copies thereof shall also be made available for inspection.

Explanatory statement shall contain  appointment/ re-appointment/ fixation remuneration of Directors/ M.D./Executive Director/WTD/Manager; variation of the terms of remuneration; details of each such Director or Manager, including age, qualifications, experience; terms and conditions of appointment/ re-appointment, details of remuneration, remuneration last drawn, date of first appointment on the Board, shareholding in the company, relationship with other Directors, manager, KMP; the number of Board Meetings attended during the year and other Directorships, Membership/ Chairmanship of Committees of other Boards; justification for choosing the appointees for appointment as Independent Directors; in case of re-appointment of Independent Directors, performance evaluation report of such Director or summary thereof.

Notice & accompanying documents (including subsequent amended notice) shall be given at least 21 clear days in advance of the Meeting. In case a valid special received from Member(s), give Notice of the Resolution to all Members at least 7 clear days before the Meeting, if not possible published in newspaper.

Notice at shorter period if consent in writing is given by not less than 95% of the Members.

No business shall be transacted at a Meeting if Notice in accordance with this Standard has not been given. However, any accidental omission shall not invalidate the proceedings of the Meeting. No items of business other than those specified in the Notice and those specifically permitted under the Act shall be taken up at the Meeting.

Notice shall be accompanied by attendance slip, Proxy form with clear instructions.

A Meeting convened upon due Notice shall not be postponed or cancelled. If, for reasons beyond 
the control, the Board may reconvene the Meeting to transact the same business as specified in the original Notice, by giving not less than 3 days intimation to the Members.

FREQUENCY OF MEETINGS
One in each calendar year, within 6 months of the close of the financial year, with an interval of not more than 15 months between two successive AGMs. The aforesaid period may be extended by a period not exceeding 3 months with the prior approval of the ROC.

QUORUM
Quorum Annual General Meeting Minimum Companies Act 2013 Amendments For public company— 5 Members personally present if the number of Members as on the date of Meeting is not more than 1000; 15 if more than 1000 but up to 5000; 30 if exceeds 5000.

Quorum shall be present throughout the meeting. Proxies shall be excluded for determining the Quorum.

A representative of body corporate or the President of India or Governor of a State is deemed to be a Member personally present & enjoys all rights of a Member present in person.

PRESENCE OF DIRECTORS AND AUDITORS
• Directors: If any Director is unable to attend the Meeting, Chairman shall explain such absence at the Meeting. Chairman of the Audit Committee, Nomination and Remuneration Committee and the Stakeholders Relationship Committee, or any other Member of any such Committee authorized by the Chairman of the Committee to attend on his behalf, shall attend the General Meeting.

Auditors:  Auditors including Secretarial Auditor, (unless exempted by the company) or his representative shall attend shall have the right to be heard at such Meetings.

CHAIRMAN
If Chairman is not present within 15 minutes after the time appointed for holding the Meeting, or if he is unwilling to act as Chairman, or if no Director has been so designated, the Directors present shall elect one of themselves to be the Chairman. If no Director is present within 15 Minutes, or is not willing to take the chair, Members present shall elect on a show of hands one of th
Chairman General Meeting Casting Vote CA Rockers
emselves to be the Chairman, unless otherwise provided in the Articles.

Chairman shall explain the objective and implications of the Resolutions before they are put to vote at the Meeting. If Chairman is interested in any item of business, he shall entrust the conduct of the proceedings in respect of such item to any non-Interested Director/ Member, with the consent of the Members present, and resume the Chair after that item of business has been transacted.

PROXIES
Member entitled to attend & vote is entitled to appoint a Proxy. Proxy Instrument is valid only if it is properly stamped. Proxy form which does not state the name of Proxy, Undated Proxy shall be invalid. Proxy-holder shall prove his identity at the time of attending the Meeting.

If a company receives multiple Proxies for the same holdings of a Member, last dated proxy shall be considered valid. Proxies shall be deposited not later than 48hrs before the commencement of the Meeting and a Proxy shall be accepted even on a holiday if the last date by which it could be accepted is a holiday.

Member who has not appointed a Proxy, may appoint a Proxy for any adjourned Meeting, not later than 48 hours before the time of such adjourned Meeting, If the Articles so provide.

Proxy is valid until written notice of revocation has been received before the commencement of the Meeting/ adjourned meeting. If Proxy is appointed for original meeting and such meeting is adjourned, any Proxy given for the adjourned Meeting revokes the Proxy given for the original Meeting.

Time duration for Inspection of proxies - 24 hours before the commencement of the Meeting and till the conclusion of the meeting. (9 a.m. and 6 p.m.)

Proxies received by the company shall be recorded chronologically in a register. In case any Proxy entered in the register is rejected, the reasons there for shall be entered.

VOTING
Resolutions shall be proposed by a Member and seconded by another Member.

Listed company shall provide e-voting facility to their Members. (Facility of e-voting does not dispense with the requirement of holding a General Meeting by the company.) Ev
Voting in General Meetings Voting by Postal Ballot Voting by Show of hands Electronic Voting
ery company, which has provided e-voting facility, shall also put every Resolution to vote through a ballot process at the Meeting. Proxy can vote in the ballot process.

Company shall at the Meeting put every Resolution (except which has been put to e-voting) to vote on a show of hands at the first instance, unless a poll is validly demanded. (Proxy cannot vote on a show of hands)

Chairman shall order a poll upon receipt of a valid demand for poll either before or on the declaration of the result of the voting on any Resolution on show of hands. Poll in such cases shall be through a Ballot process. While a Proxy cannot speak at the Meeting, he has the right to demand or join in the demand for a poll. The poll may be taken by the Chairman, on his own motion also.

Every Member holding equity shares and, in certain cases as prescribed in the Act, every Member holding preference shares, shall be entitled to vote on a Resolution.

Member who is a related party is not entitled to vote on a Resolution relating to approval of any contract or arrangement in which such Member is a related party.

Chairman shall have a second or casting vote. ( Unless otherwise provided)

Electronic Voting Annual General Meetings e-voting procedure Companies Act 2013CONDUCT OF E-VOTING
Company providing e-voting facility shall offer such facility to all Members, irrespective of (whether they hold shares in physical form or in dematerialized form.) The facility for Remote e-voting shall remain open for not less than 3 days; voting period shall close at 5 p.m. on the day preceding the date of the General Meeting.

Board Approval - The Board shall- appoint one or more scrutinizers for e-voting or ballot process, the scrutinizer may be a C.S./C.A/C.W.A in Practice, or an Advocate or any other person not in the employment of the company; appoint an Agency; decide the cut-off date for the purpose of identifying members who are entitled to voting rights; authorize Chairman to receive the scrutinizer’s register, report on e-voting and other related papers with requisite details.

Notice shall contain information regarding procedure of e-voting. Notice of the Meeting, wherein the facility of e-voting is provided, shall be sent either by registered post/ speed post/ courier/ e-mail or by any other electronic means.

An advertisement containing prescribed details shall be published, after dispatch of notices for meeting but at least 21 days before the date of the General Meeting in newspaper. Advertisement shall also be displayed on the website till the date of General Meeting.

On the receipt of scrutinizer’s report Chairman/ Director shall countersign the scrutinizer’s report and declare the result of the voting forthwith with all details.

Result shall be displayed on the Notice Board of the company at its Registered Office or Head

Office/ Corporate Office & on the website of the company.

Resolution passed by a requisite majority shall be deemed to have been passed on the date of the relevant General Meeting

Scrutinizers’ register, report and other related papers shall be kept in the custody of the Company Secretary.

CONDUCT OF POLL
When a poll is demanded on any Resolution, chairman will verify and order the poll forthwith if it is demanded on the question of appointment of the Chairman or adjournment of the Meeting and, in any other case, within forty-eight hours of the demand for poll.

Poll which is not taken immediately Chairman shall announce the date, venue & time of taking the poll (or within 24 hours of closure of the Meeting.). Chairman may permit any Member who desires to be present at the time of counting of votes.

Each Resolution put to vote by poll shall be put to vote separately. One ballot paper may be used for more than one item.

Chairman shall appoint scrutinizers, who may include a C.S./C.A/C.W.A in Practice, or an Advocate or any other person not in the employment of the company. At least one of the scrutinizers shall be a Member who is present at the Meeting, provided such a Member is available and willing to be appointed.

Based on the scrutinizer’s report, Chairman Shall countersign & declare the result (with details) of the poll within 2 days of the submission of report by the scrutinizer.

Result of the poll shall deem to be the decision of the Meeting on the Resolution on which the poll was taken.

PROHIBITION ON WITHDRAWAL OF RESOLUTIONS
Resolutions for items of business which are likely to affect the market price of the securities & resolution proposed for consideration through e-voting shall not be withdrawn.

RESCINDING OF RESOLUTIONS
A resolution passed at a meeting shall not be rescinded otherwise than by a resolution passed at a subsequent Meeting.

MODIFICATIONS TO RESOLUTIONS
Modification of resolution which does not change the purpose of the Resolution materially can be carried out by majority at the meeting and then the modified resolution shall be proposed, seconded and put to vote. Modification shall not be made if it in alters the substance of the Resolution as set out in the Notice. No modification shall be made to any resolution which has already been put to vote by Remote e-voting before the Meeting.

READING OF REPORTS
Qualifications, observations , remarks on the financial transactions or matters which have any adverse effect on the functioning of the company mentioned in the Auditor’s Report & Secretarial Audit shall be readout at the AGM and attention of Members present shall be drawn to the explanations / comments given by the Board of Directors in their report.

DISTRIBUTION OF GIFTS
No gifts, gift coupons, or cash in lieu of gifts shall be distributed to Members at or in connection with the Meeting.

ADJOURNMENT OF MEETINGS
Duly convened Meeting shall not be adjourned unless circumstances so warrant. Chairman may adjourn a meeting with the consent of the Members, at which a Quorum is present, and if so directed by the Members.

Meetings shall stand adjourned for want of requisite Quorum.

Chairman may adjourn a Meeting in the event when it becomes impossible to conduct the Meeting and complete its business.

If Meeting is adjourned sine-die or for a period of 30 days or more, Notice of the adjourned Meeting shall be given. If Meeting is adjourned for a period of less than 30 days, company shall give not less than 3 days Notice specifying the day, date, time and venue of the Meeting, either individually or in 
newspaper.

If  Meeting, other than a requisitioned Meeting, stands adjourned for want of Quorum, the adjourned Meeting shall be held on the same day, in the next week at the same time and place or on such other day, not being a National Holiday, or at such other time and place as may be determined by the Board.

If a Meeting is adjourned for want of a Quorum to the same day on the next week, at the same time and place or with a change of day, time or place, the company shall give not less than 3 days.

If at an adjourned Meeting, Quorum is not present within half an hour from the time appointed, the Members present, being not less than 2, will constitute the Quorum.

If, within half an hour from the time appointed for holding a Meeting called by requisitionists, a Quorum is not present, the Meeting shall stand cancelled.

At an adjourned Meeting, only the unfinished business of the original Meeting shall be considered.

PASSING OF RESOLUTIONS BY POSTAL BALLOT
Listed company shall provide facility to its Members in respect of those items, which are required to be transacted through postal ballot.

The Board shall: identify the businesses to be transacted;  approve the Notice incorporating proposed Resolutions and explanatory statement; authorize the Company Secretary to conduct postal ballot process and sign and send the Notice along with other documents; appoint one scrutinizer for the postal ballot; appoint an Agency in respect of e-voting for the postal ballot; decide the record date for reckoning Voting Rights and ascertaining those Members to whom the Notice and postal ballot forms shall be sent. Only Members as of the record date shall be entitled to vote on the proposed Resolution by postal ballot.

Notice (accompanied by the postal ballot form with the necessary instructions)of the postal ballot shall be given in writing to every Member of the company, Directors, Auditors, Secretarial Auditor, Debenture Trustees, other specified recipients. Advertisement/notice containing prescribed details shall be published newspaper & website also.

Notice shall- specify the day, date, time and venue where the results of the voting by postal ballot will be announced and the link of the website where such results will be displayed & also inform the Members about availability of e-voting facility, if any, and provide necessary information thereof to enable them to access such facility.

Each item proposed to be passed through postal ballot shall be in the form of a Resolution and shall be accompanied by an explanatory statement.

Postal ballot forms: shall be accompanied by a postage prepaid reply envelope addressed to the scrutinizer. A single postal ballot Form may provide for multiple items of business to be transacted.

Postal ballot form shall be considered invalid if: form other than one issued by the company has been used; It has not been signed member; Signature doesn’t match; not possible to determine assent or dissent; Neither assent nor dissent is mentioned; competent authority given directions in writing to freeze the Voting Rights of the Member; postal ballot form received after the last date; postal ballot form, signed in a representative capacity, is not accompanied by a certified copy of the relevant specific authority; received from a Member who is in arrears; defaced or mutilated so that identity cannot be established; Member has made any amendment to the resolution or imposed any condition while exercising his vote.

Based on the scrutinizer’s report, Chairman Shall countersign & declare the result (with details)
The result of the voting with details of the number of votes cast for and against the Resolution, invalid votes and whether the Resolution has been carried or not, along with the scrutinizer’s report shall be displayed on the Notice Board of the company at its Registered Office and its Head Office as well as Corporate Office, if any, if such office is situated elsewhere, and also be placed on the website of the company, in case of companies having a website.

The postal ballot forms, other related papers, register and scrutinizer’s report shall be kept in the custody of the Company.

Resolution passed by postal ballot shall not be rescinded otherwise than by a Resolution passed subsequently through postal ballot.

No amendment or modification shall be made to any resolution circulated to the Members for passing by means of postal ballot.

MINUTES
Minutes shall be recorded in books. Distinct minutes book shall be maintained for Meetings of the Members of the company, creditors and others as may be required under the Act.

 Resolutions passed by postal ballot shall be recorded in the Minutes book of General Meetings.

Minutes may be maintained in physical or electronic form (with Timestamp). The pages of the Minutes Books shall be numbered. In the event any page or part thereof in the Minutes Book is left blank, it shall be scored out and initialed by the Chairman who signs the Minutes.

Minutes shall not be pasted or attached to the Minutes Book, or tampered with in any manner. Minutes, if maintained in loose-leaf form, shall be bound.
Minutes Books shall be kept at the Registered Office or at such other approved place.
Contents of the minutes will be general and specific.
In respect of Resolutions passed by e-voting or postal ballot, a brief report including the Resolution proposed, the result of the voting hereon and the summary of the scrutinizer’s report shall be recorded in the Minutes Book and signed by the Chairman within 30 days from the date of passing of Resolution by e-voting or postal ballot.
Minutes shall contain a fair and correct summary of the proceedings of the Meeting. It shall be written in clear, concise and plain language. Each item of business taken up at the Meeting shall be numbered.
Minutes shall be entered in the Minutes Book within 30 days from the date of conclusion of the Meeting & date of entry of the Minutes in the Minutes Book shall be recorded by the Company Secretary.
Minutes, once entered in the Minutes Book, shall not be altered.
Minutes of a General Meeting shall be signed and dated by the Chairman of the Meeting within 30 days of the General Meeting. Chairman shall initial each page of the Minutes & sign and put date on the last page where he has signed the Minutes.
Directors, Members, C.S. in Practice, Secretarial/ Statutory/ Cost Auditor/ Internal Auditor are entitled to inspect the Minutes, during business hours of the company, without charge, subject to reasonable restrictions.
Extract of minutes shall be given only after the minutes have been duly signed (otherwise certified by the Chairman or any Director or the Company Secretary).
PRESERVATION OF MINUTES AND OTHER RECORDS
 Minutes of all Meetings shall be preserved permanently & shall be kept in the custody of the Company Secretary
Office copies of Notices, scrutinizer’s report, and related papers shall be preserved for as long as they remain current or for 8 financial years, whichever is later and may be destroyed thereafter with the approval of the Board.
REPORT ON ANNUAL GENERAL MEETING
Listed company shall prepare a report on Annual General Meeting in the prescribed form, including a confirmation that the Meeting was convened, held and conducted as per the provisions of the Act.
DISCLOSURE
The Annual Return of a company shall disclose the date of Annual General Meeting held during the financial year.


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CA Final ISCA Syllabus Changes Study Meterial Nov 2015

CA Final ISCA New Syllabus Notes Amendments Changes
Recent Changes and Amendments in Information Systems Control and Audit (ISCA) Syllabus for CA Final Students:

ICAI has recently made amendments in the ISCA Study Material by including new topics into the current syllabus and also removing certain topics.

The new Chapters in ISCA are as follows:


ISCA Chapter 1: Concepts of Governance and Management of Information Systems
ISCA Chapter 2: Information Systems Concepts
ISCA Chapter 3: Protection of Information Systems
ISCA Chapter 4: Business Continuity Planning and Disaster Recovery Planning
ISCA Chapter 5: Acquisition, Development and Implementation of Information Systems
ISCA Chapter 6: Auditing of Information Systems
ISCA Chapter 7: Information Technology Regulatory Issues
ISCA Chapter 8: Emerging Technologies


Download ISCA New and Amended Study Material below with new syllabus:


ISCA Chapter 1 Study Material: Concepts of Governance and Management of Information Systems

ISCA Chapter 2 Study Material : Information Systems Concepts

ISCA Chapter 3 Study MaterialProtection of Information Systems

ISCA Chapter 4 Study Material : Business Continuity Planning and Disaster Recovery Planning

ISCA Chapter 5 Study Material: Acquisition, Development and Implementation of Information Systems

ISCA Chapter 6 Study Material:Auditing of Information Systems

ISCA Chapter 7 Study Material: Information Technology Regulatory Issues

ISCA Chapter 8 Study Material: Emerging Technologies


Download ISCA New and Amended Practice Manual below with new syllabus:


ISCA Chapter 1 Practice Manual: Concepts of Governance and Management of Information Systems

ISCA Chapter 2 Practice Manual: Information Systems Concepts

ISCA Chapter 3 Practice ManualProtection of Information Systems

ISCA Chapter 4 Practice Manual: Business Continuity Planning and Disaster Recovery Planning

ISCA Chapter 5 Practice Manual: Acquisition, Development and Implementation of Information Systems

ISCA Chapter 6 Practice ManualAuditing of Information Systems

ISCA Chapter 7 Practice Manual: Information Technology Regulatory Issues

ISCA Chapter 8 Practice Manual: Emerging Technologies



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Industrial Training Vacancy Chennai Aditya Birla Money

Industrial Training in Chennai for CA Students CA Final qualifiedIndustrial Training Vacancy in Aditya Birla Money, Chennai:

Required:
Young, Energetic and Ambitious candidates having good communication skills Candidate will work under multiple are asincluding core accounts, MIS, taxation.
Vacancies at corporate office, Chennai

How to apply:
Send your CV to revathy.a@adityabirla.com


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GMCS Next Batch ITT Orientation Batch Details

GMCS, ITT and Orientation Next batch seats available in the following cities:

Next GMCS Batch Available ITT OrientationAMRITSAR, Bathinda, Chandigarh, Faridabad, Gurgaon, Shimla, Hisar, Jalandhar, Jammutawi, Karnal, Ludhiana, Panipat, Lewer Mall, Rohtak, Sonepat, Yamunanagar, Sangur, Agra, Ajmer, Allhabad, Alwar, Bareilly, Bhilai, Bhopal, Bhilwara, Bikaner, Bilaspur, Dehradun, Dhanbad, Gaziabad, Gorakhpur, Gwalior, Indore, Ahmedabad, Ahmednagar, Akola, Anand, Aurangabad.

Vadodara, Bharuch, Panjim, Jalgaon, Jamnagar,  Kolhapur, Nagpur, Nashik, Navi Mumbai, Pune, Rajkot, Sangli, Solapur, Surat, Thane, Amravati, vapi, Gandhidham, Bhavnagar, ALAPPUZHA, BANGALORE, Bellary, Belagaum, Kochi, Erode, Guntur, Hubli, Hyderabad, Kakinada, Kottayam, Kumbakonam, Madurai, Mangalore, Mysore.

Nellore, PALAKKAD, PUDUCHERRY, Kollam, Rajumundry, salem, TIRUCHIRAPALLI, Tirichi, TIRUNELVELI, TIRUPUR, Trichi, TRICHUR, THIRUVANANTHA PURAM –, Trivendrum, TUTICORIN, UDUPI, Vellore, Vijayawada, Vizag, Visakhapatnam, Tirupathi

What is General Management & Communication Skills (GMCS) Course? 

General Management & Communication Skills Course is 15 days full time course introduced to equip the entrants to the profession with interpersonal and management skills. This course is a prerequisite for membership enrolment of the Institute under regulation 51A/72A

GMCS ITT Orientation Delhi Hyderabad Kolkata Mumbai Chennai Chandigarh Ahmedabad Bangalore Pune Indore Gurgaon What is the eligibility for attending GMCS Course?

 (i) A student who has passed Intermediate / Professional Education (Examination – II) and registered in Final Course and either has completed practical training or is serving last 12 months of practical training is eligible to undergo the course. (ii) A student who has passed Professional Competence Course / Integrated Professional Competence Course and registered for Final Course and either has completed practical training or is serving last 12 months of practical training is eligible to undergo the course.

What is the exception for the students who attend Four Weeks Residential Programme? 

GMCS ITT Orientation batches available next Online RegistrationA student who completes Four Weeks Residential Professional Skills Development programme organized by the Board of Studies will not be required to undergo GMCS Course.

What is the fee structure for attending GMCS Course? 

The fees for attending GMCS Course shall not exceed Rs.5500/- per student (w.e.f. 1st July, 2013) on non-residential basis inclusive of course and study materials. The fee structure does not apply to Dubai Overseas Office.

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IPCC Group-1 Important Topics Questions Chapters Nov 2015

CA IPCC Group-1 Important Topics Nov 2015

CA IPCC Group-1 Important questions / Chapters / Topics for Nov 2015 exams, Important Subject Topics Preparation Tips of Group 1 Accounting, Law, Costing and FM and Taxation

(Extracts of notes by previous toppers)

CA IPCC Taxation paper Tips, Important Topics:

Important Topics in Chapter 3: Income which do not form part of Total Incomes:

  • Section 10(1): Agricultural Income
  • Section 10AA: Tax Holiday for SEZs
  • Section 10(10BC): Compensation received by an Individual or his legal heir on account of any disaster.
  • Section 10(2A): The Partner's share in total income of the LLP.

Important Topics in Clubbing of Income:

  • Section 64(1)(iv): Income arising to spouse from assets transferred without adequate consideration.
  • Section 64(1)(ii): Income arising to spouse by way of remuneration from a concern in which the individual has substantial interest.
  • Section 64(1A): Income of Minor child.

Important Topics in Income from Salaries:

  • Section 10(13A): House Rent Allowance
  • Section 10(14)(ii): Children Education allowance
  • Section 10(10): Gratuity
  • Section 10(5) : Leave Travel Concession.
  • Section 16(iii) - Professional Tax

Important Topics in Income from Business or Profession chapter:

  • Section 32: Depreciation
  • Section 35: Expenditure on Scientific Research
  • Section 37(1) : General Deductions

Accounting Important Chapters, Questions:

IPCC Accounts Important Topics Notes Questions
Group-I Accounting is all about common sense. This is one of the important subjects, because, it helps a lot in securing the required aggregate marks in the group. A few recent facts are stated below:

On a sample survey of last four IPCC exams, it was found out that, if you take 100 students who have secured exemption in Group 1, among those 100, a staggering 60-70 number of exemptions have come from the Accounting subject.

In another survey of students who failed in the Nov 2013 exam but got an exemption in one or more subject, there are 68% students who have got their exemption only in Accounting.

The trick is choosing a wise material. Recent toppers have stated that, ICAI’s practice manual is the best and that’s what makes the difference.

Important Chapters/Topics:

  • Partnership – Retirement
  • Single Entry
  • Insurance for loss of Profit
  • AS 6,9 and 10

Law Ethics and Communication Important Topics:

IPCC Law Important Questions Topics Notes Amendments
We have conducted a survey of 160 students who have secured exemption in Law. Below are a few notes they have made:

Side-headings, Side-headings and Side-headings. 56% of the students have told the same thing. The importance of sub-headings. Once you write a suitable sub-heading, the examiner will have no need to go into the matter.

70% of the students have given the credit to Ethics and Communications.  Ethics and Communications have a comparatively very much smaller syllabus. Combined reading based on sub-headings have got them the success.

For Law, most of the students have credited the need of ICAI Practice Manual.

Important Chapters/Topics:

  • Meetings, Incorporation
  • Workplace Ethics, Ethics in Accounting and Finance
  • Communication channels and Ethics

Download Law, Ethics Notes for Revision


Costing and FM Important Chapters:

ipcc-costing-fm-important-questions-topics-chapters
Recent stats say that, out of the students who have failed Group-1, 72% have failed in Costing and FM along with some other subject, and 46% students failed only in Costing and FM.

This subject has two shades. It has been a boon for a set of students and for some, it has been a curse.
So we decided to go deep into the matter and have inquired 300+ students, which includes students who have been failing this subject for at least two attempts and students who have got exemptions. We also extracted much needed info from a student from Vijayawada who scored 86 in this subject.

Almost all the students who succeeded in this have noted the same point, PRACTICING WITH PEN AND A BOOK. A close analysis of the preparation style of students who have been failing revealed that, most of them were just going through the questions and not putting them on to the paper.  Not just Seeing, PRACTICE, PRACTICE and PRACTICE. By looking at the book, it looks like everything is ok, but once you put the pen on the paper, it wont move after two steps.

Second point is the presentation. Costing is all about presentation. You may bring the solution, but unless you present it in a format, you are not going to score marks. We have obtained the certified copies of a few students which revealed the same.

Important Chapters/Topics:

Costing:
  • Material Cost
  • Contract Costing
  • Marginal Costing
  • Joint and By Products (Theory)
Financial Management:
  • Cost of Capital
  • Cash Flow Statement
  • Management of Working Capital




Taxation Important topics

ipcc-tax-important-questions-topics-chapters
Exam point of view, the first thing you need to start and finish is VAT, and then Service Tax and then move on to Income Tax.

There have been plenty of amendments in Service Tax and recent Practice Manual is well updated with all the changes and very good practical questions.

Most important point you should remember while preparing for Taxation is, NEVER READ A BULK OF SYLLABUS IN A SINGLE DAY. Taxation is a tricky subject who should be prepared over a period of time. Don’t finish topics in a single stretch. For that day you may feel like you got that but after a week, everything comes to the starting point. Slow and Steady.

Killer tip: Go though Amendments made in Finance Act, 2013. A minimum of 50-55 Marks will be covered from those topics only.

Important Chapters/Topics:

  • Residential status, Clubbing, House Property
  • ST: Valuation, POT, Returns
  • VAT: Calculation  and procedures
Important Theory Questions:
  • Service Tax @ Life Insurance business
  • Benefits of Composition scheme under VAT
  • Advance Payment of Tax on Capital Gains (5M)
  • Deduction u/s 80CCG
  • Section 197A (1F)
  • Service Tax on Vocational Course offered by Govt Org
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CA Final Preparation Tips Nov 2015 Exams


How to Prepare Corporate and Allied Laws
Author: Tejpal Sheth

ca-final-preparation-tips-important-questions
Dear Students,
During my interaction with number of students of CA Final on their questions "how to prepare for Corporate and Allied law", I come across difficulties faced by them. More particularly, what to read, how to read, what are important topics and what kind of language should be used while writing paper.

I would like to suggest following points to ponder before you start reading for corporate and allied law:

1. Do not ignore the allied law because it is of 30 marks. Most of students decide to read the allied law later on. Allied law is based upon theory. Student should try to understand it. Student can remember it by noting down relevant points.

2. You will find atleast one question each from SEBI Guideline, FEMA and competition Act. These acts are lengthy but do not dare to avoid it.

3. Lot of changes and amendment are taking place in provisions of SEBI Guidelines. Keep yourself updated.

4. Most of questions from FEMA includes; residential status and current and capital account transaction.

5. Most of students focus on chapters like board of directors, directors and remuneration of directors but last two papers trend show that only 16 marks coverage from same portion. These chapters are very lengthy.

6. You will find one question from interpretation of statute.

7. You should write your answer in technical language so far as possible. As and when necessary, you may quote relevant landmark judgment to support your answer.

8. Do not write paper in one paragraph. Plan your answer and divide your writing in to few paragraph. There is no universal rule for same. The number of paragraph is depend upon subject matter and how you cover points.

9. Select the book or material which gives you coverage but in most simple and compact way because most of students have complaint that they could not complete the reading on last day of exam. Students may refer my latest book - Corporate and allied law - By Pearson Publication. - Author Tejpal Sheth. Book is available on www.flipkart.com, www.pearson.vrvbookshop.com, www.bookadda.com,www.junglee.com,

10. While answering the practical question length of answer is not important but what is important is coverage of required provisions of law. So do not bother about length of your answer.

11. Do not just write yes or no, correct or incorrect while attempting practical question, support your answer with logical reason.

I do hope with these tips, you will be able to prepare subject and for exam in lucid manner. Best wishes. Feel free to contact me for your query or doubt on subject.

About Tejpal Sheth:

Tejpal Sheth is practicing company secretary at Ahmedabad. He holds Dip in Pharmacy, company secretary and MBA in international Business. He holds certificate in Intellectual Property Rights of World Intellectual Property Organization and cyber law.

Mr. Sheth is active educator and trainer. He is visiting faculty with ICAI, ICSI, ICWAI, IIPM, Gujarat University, Gandhinagar Institute of Technology (GIT). Sheth has authored 14 books so far.
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CA IPCC Tax Imp Topics Preparation Tips Nov 2015

CA IPCC Tax Tips Imp Topics Study PassCA IPCC Taxation paper Tips, Important Topics:

Important Topics in Chapter 3: Income which do not form part of Total Incomes:


  • Section 10(1): Agricultural Income
  • Section 10AA: Tax Holiday for SEZs
  • Section 10(10BC): Compensation received by an Individual or his legal heir on account of any disaster.
  • Section 10(2A): The Partner's share in total income of the LLP.

Important Topics in Clubbing of Income:

  • Section 64(1)(iv): Income arising to spouse from assets transferred without adequate consideration.
  • Section 64(1)(ii): Income arising to spouse by way of remuneration from a concern in which the individual has substantial interest.
  • Section 64(1A): Income of Minor child.

Important Topics in Income from Salaries:

  • Section 10(13A): House Rent Allowance
  • Section 10(14)(ii): Children Education allowance
  • Section 10(10): Gratuity
  • Section 10(5) : Leave Travel Concession.
  • Section 16(iii) - Professional Tax

Important Topics in Income from Business or Profession chapter:

  • Section 32: Depreciation
  • Section 35: Expenditure on Scientific Research
  • Section 37(1) : General Deductions
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Strategy to Pass CA Final by All India Rank Holder


CA Final Preparation Strategy Study Plan
Hello friends,
I am CA Manoj Bothra; secured AIR 44 in CA Final May 2014 Exam.
I am here to share a strategy to crack CA Final Exam in First Attempt and study plan.

1. First thing first, you should have at least a period of 6 month to prepare.

2. During this long period, you are required to plan your studies in such a manner that you can complete one time revision of the all eight subjects.

3. One should go for in depth study at first reading; it would make you to learn all the topic of the subjects. None of the topic should be escaped by saying “it can be done at a day prior exam or I will leave it or it’s too tough to prepare”. I think in such a case you should ask doubt and understand the topic from your teacher or friends.

4. Let come to the study plan.
You all have 6 months (180 days) to prepare. I think you should have to allot 15 days for 1st depth study of a subject in entirely( we will discuss breakup of 15 days in details further, later on). In this way you can complete all of your subjects in 4 months.
Some of you are thinking that 15 days period is quite long or short for study a subject, believe me guys it is enough time and you may even complete some subject within 12 days too and on the other hand sometime a subject like direct tax may take more than 15 days to prepare.
This is all about 4 months schedule

5. This was your first round of studies and after 4 month, you may have doubt in your mind “I may forget first subject in this long period”. Don’t worry guys. I have a solution of this problem too.
After completing 4 months successful journey of 1st round of studies, you guys are now required to go through all the subjects once again. But this time you are not been provided such a long period for each subject. Actually this is time of 1st revision.
Let me explain way of revision
Each subject will be given a period of 6 days (6*8=48 days). And you may have 2 days of grace to manage revision within this 50 days period.(discuss it in detail later on)

6. Study plan of last 10 days. This is most precious and valuable time as after 10 days your exam will going to start. Many time students seem confused what to do in these days and how to manage studies..?
I would like to say after going through revision, you will be confident about your preparation and from now onwards you have prepare for exam. I suggest to prepare paper 3 audit and 4 corporate and allied law within 4 days ( 2days for each). In next 2 days you should go through 3 to 4 topics of strategic financial management. And give last 4 days for financial reporting.

7. Now I would like to suggest you on the plan of 15 days details studies
First of all you should list out all the topics and learning objects of a subject. After this you should make a time table for completing the subject within 12 to 13 days. In this period of 12 days, you should have to go through entire studies, notes and practice manual. Remember one thing solve practice manual as you go through the topic, you can say I have completed Director chapter, so go through director chapter of practice manual on the same days.
After this you will have 2 or 3 days, I think now you should summarize the subject in 2 days and with 
one day remaining in your hand, you will have to do a lot.
On the last day, take a paper of any previous exam and set a clock for 3 hours alarm and sit in an exam like environment and try to complete the paper in 3 hours, so that you can know about your weakness and area of improvements.

8. One important thing you have t do in the depth study time to highlight or mark (*), (**),(***) on the various question or short note that are important from your point of view.
What I have said, you have to judge yourself about the question level.
Reason for doing this is that at the exam time or on revision time, you need not have to go through same question again and again so as to save time. This is a way of smart study.

9. Now we will discuss the plan of 6 days of revision. Firstly, you should go through all star marked topics and try to solve at least one question on each topic. Here you are also required to plan for 5 days and save one day for mock test. This is time to check preparations and mistakes, so as to avoid mistake which usually take place in real exam.
This was all about my way of preparing.

Now I would like to give some tips to you-
A. Many times we are confused which subject to start first and which to put on last.

It is easy to select, as you should start that subject which is tough for you and you are weak in that. 

The reason is that at initial level, you will have time to study hard and come out of your fear of a particular subject. For example-  I have gone for Strategic Financial Management First, as I was weak in this but I manage to score 78 marks in this. So now you can imagine how this strategy can help you.

B. Sequence of subject for revision. I think it would be better if you go group wise, 1st group in first 24 days and next 24 days for 2nd group. And after this you will have 10 days to revise you 1st -group again before the exam. In this way, you will be in touch will all the subjects.

C. Now plan about ISCA, it is also important to study this subject.  I would like to suggest that manage schedule of study and have one depth study with 2 times of revision near the exam so that all the point and topic refresh your mind again and again.

D. One exam tip, if one of your subject is not gone as per your expectation, never lose hope and  please don’t waste time on such type of thinking about the past paper, prepare well for next one so as to score good in next subject.

E. Many times we hesitate to get our queries solved by teacher or friend, don’t become narrow minded, even ranker may have to go to average one for asking something. Be “Besharm and ask Bindas”. At the end you will have clarity of topic.

F. Don’t waste time to read same subject again and again, in this way you will not get any productive results and find you are reading what you already know.

G. Make at least 2 papers within a group as your strength so that you can cross 60 in those and clear hurdle of aggregate marks.

H. Last one….—

Subject based tips-

(i) FINANCIAL REPORTING- Never ignore or undervalue Accounting Standards. It is part and parcel of 50-60 marks paper in FR (paper-1) and Audit (paper-3).

(ii) STRATEGIC FINANCIAL MANAGEMENT- Try to solve question from your own, not audit your note book otherwise you will not be able to solve it at the time of Exam Paper. And one more thing to remember, give equal weight to each topic, it is on ICAI to ask anything and in any manner (weight of topic) is not fixed.

(iii) AUDITNG- Try to remember topic point wise and present it also in point wise manner to score good marks.

(iv) CORPORATE AND ALLIED LAW- Pay equal attention to allied law too and remember section number and interlinking of section to score well.

(v) ADVANCED MANAGEMENT ACCOUNTING- Make sure that you solve each question from your own and solve practice manual too. Go through development in AMA, these small topics carries handsome amount of marks in exam.

(vi) ISCA- Again Answer in point wise manner and to the point only. Never try to answer a question which is not known to you in exam sheet at early pages. Answer it on the end.

(vii) DIRECT TAX-it is nice subject to read on and learns, prepare well and solve practical question too. One more thing is amendment and case laws will have to be given equal importance

(viii) INDIRECT TAXATION- Topic wise clarity of provision and common topic is required.
Pay attention to valuation rules, case laws and amendment carries high weight-age in exam paper.
At the end I would like wish you a happy study and best of luck.

Thanks & regards,


CA Manoj Bothra
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Crack CA Final Exams Tips to Pass CA Final Nov 2015


How to Pass CA Final Exams. How to Get Rank in CA final Exams. CA Final Preparation tips

How to Pass CA Final Preparation tips
My Dear Friends,
I would like to ask you “Is CA Final Cracking difficult?” Many of you must be thinking that it is difficult. But let me tell you it’s not so. It’s just a matter of effort. Rather I will call it a smart effort. 

Friends I have cracked my CA final in 2nd attempt, was blaming the institute for my terrible failure in November 2013 attempt. But it was not so. When I started framing the strategy for my second attempt I realized that I was the alone person to be blamed & not the institute.  I did a little bit of reengineering & was able to crack it. The strategy which I implemented was as follows.

I used to start my day at 7.30 am with Accounting Standards. I used to give 2 hours per day for any two accounting standards. Then compulsory half hour devotion to costing theory per day which was followed by one theory subject and one practical subject. This schedule was followed continuously for two months was able to get exemption in Audit and ISCA. Got 59 in DT.

Book Referred \ Classes Done:-
Subject Name
Author
Accounts
I did classes for Practical part & Accounting Standards from V.K.Agarwals Book.

Audit
Surbhi Bansal along with Practice Manual.*

Strategic Financial Management
 I did classes.

Corparate & Allied Laws
Munish Bhandari.
One day before examination from Munish Bhandari’ Laws along with Practice Manual for those Chapter which are given in brief in handbook from Practice Manual e.g. SEBI.

Costing & QT
I did classes. But do institutes study material along with practice manual. (Will help you in solving theory).

ISCA
Prof. Jignesh Chedda’s Book

DT
I did classes. But referred  Practice Manual & Supplementary Study paper. Do go through  RTP for latest case laws.

IDT
CA Yashwant Mangals Handbook along with Practice Manual & suggested Case Laws from Institute. Do go through RTP.

*Friends for audit paper you also require knowledge of all other subjects.

Do practice previous year papers that are available on I.C.A.I websites for all subjects except DT and IDT (as these will be reflect the answers as per the relevant Finance Act).

Hope this article helps you in framing your strategy. Friends no one can provide you with the fool proof strategy. It’s only you who can do it for yourself.

All the Best
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