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Only one month left for CA Final examinations!!
Are you concerned about completing the CA Final Financial Reporting Study Plan?
Don't worry; below are the section-wise suggestions for finishing Financial Reporting (FR) in one month to boost your preparation.
Financial reporting (FR) is one of the highest-scoring topics in CA final examinations, with more practical problems than theoretical ones. Try concentrating more on the numerical section, as theory questions (around 70%) are not that scoring.
Attempt to obtain an exemption in Financial Reporting (FR) to clear the CA Final Examinations with less stress.
Strategies for Good Preparation to Reap Good Marks:
|
CHAPTERS |
TOPICS |
MARKS WEIGHTAGE |
DAYS REQUIRED |
|
Section 1 |
1. Framework for Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards (Ind AS). 2. Application of Indian Accounting Standards (Ind AS) with reference to General Purpose Financial Statements (i) Ind AS on First-time adoption of Indian Accounting Standards (Ind AS 101) (ii) Ind AS on Presentation of Items in the Financial Statements (Ind AS 1, 34, 7) (iii) Ind AS on Measurement based on Accounting Policies (Ind AS 8, 10, 113) |
10 - 15 marks |
4 Days |
|
Section 2 |
(iv) Ind AS on Income Statement(In AS 115) |
10 - 15 marks |
4 Days |
|
Section 3 |
(v) Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS (Ind AS 2, 16, 116, 23, 36, 38, 40, 105, 19, 37) |
15 - 25 marks |
6 Days |
|
Section 4 |
(vi) Ind AS on Items Impacting the Financial Statements (Ind AS 12, 21) (vii) Ind AS on Disclosures in the Financial Statements (Ind AS 24, 33, 108) (viii) Other Ind AS (Ind AS 20, 41, 102) |
15 - 20 marks |
5 Days |
|
Section 5 |
3. Indian Accounting Standards on Group Accounting (i) Business Combinations and Accounting for Corporate Restructuring (including demerger) (as per Ind AS) (ii) Consolidated and Separate Financial Statements (as per Ind AS) |
10 - 20 marks |
4 Days |
|
Section 6 |
4. Accounting and Reporting of Financial Instruments (as per Ind AS) |
10 - 20 marks |
4 Days |
|
Section 7 |
5. Analysis of Financial Statements 6. Integrated Reporting 7. Corporate Social Responsibility Reporting. |
5 - 10 marks |
2 Days |
Suggestions:
- Start with the small Ind AS's. You can also begin with Ind AS's, such as 12, 16, 2, 105, and 36.
- Try to devote 3-4 hours to Financial Reporting to finish this in 1 month.
- Do revise the small Ind AS’s at the last because these can help you fetch good marks with less burden. Try to keep a buffer of at least 4 days for the revision of FR.
- Instead of simply going through the practical issues, try to have a written practice of them.
- Try to solve questions from past papers, MTP (Mock Test Papers) and RTP (Revision Test Papers ), mainly ICAI modules back questions (Test Your Knowledge).
- Focus more on practical questions of chapters that are large.
Pro Tips:
- The framework of financial statement, Ind AS 20, 21, 38, 16, 10, 102 are most scoring, target these to get better marks.
- Take the previous four RTPs and attempt to do that because the odds of asking from them are comparatively high.
(Disclaimer: These are our research-based suggestions. You can either stick to your schedule or take our recommendation. You can even stick to your plan while incorporating some of our ideas.)
We hope you find this helpful in your preparation.
FAQs:
How to study Ind AS for CA final?
To effectively study Ind AS for the CA final, start by thoroughly reviewing the ICAI's study materials and complementing them with reputable reference books. Focus on understanding the principles and applications of each standard through practical examples and case studies. Regular practice with past papers and staying updated on any amendments are crucial. Summarize key points for revision and consider joining study groups or seeking professional guidance to clarify doubts and gain deeper insights.
What is the ca final Financial reporting(FR) weightage in the CA Final examination?
For precise and up-to-date details on the CA Final chapter-wise weightage and ABC analysis, visiting specific resources like the provided link is advisable. Such platforms offer comprehensive insights into the distribution of marks across different chapters and subjects of the CA Final exam. They typically categorize chapters based on their importance and the likelihood of questions appearing in the exam, helping students prioritize their study efforts effectively. The ABC analysis further assists in identifying which chapters to focus on for maximizing scores, based on historical exam patterns and expert recommendations. This strategic approach can significantly enhance preparation efficiency and exam performance.
Best wishes for your upcoming exams!!
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