CA's Lifestyle

CAS LIFESTYLE...balance the demands for study, professional work and family life

RESEARCHED AND WRITTEN BY

Hafiz Muhammad Adnan RanaB. COM, CA(Intermediate)

-----------------------------------------------------------------------------------------------------------..................balance the demands for study, professional work and family life

PREFACEBismillah-ir-Rahman-ur-Raheem, first of all I want to thank Almighty Allah(without his blessing none of this would have been possible)and with everything he has blessed me.

A special message to my Mom, I love you and proud to be your son, I know you must be smiling up there somewhere, I thank you for giving me life. A special thank to my Dad, without his support and courage I would not have made it so far, he was the strength behind me and gave me the study environment and whatever I needed. I would also like to thank my Uncle Mr. Gulam Nabi Rana, Finance Director, NHA and my grand parents who had all the faith in the world in me, they are my staunch supporter and also my greatest critics. This book is dedicated to my parents, brothers and friends including Asif, Atif, Bilal Yosuf, Ubaidullah Javed and Vicky who have always been a source of inspiration throughout my life, and to all my teachers including Mr. Khalil Ahmed(GCTI, Sialkot) and Mr. Mohammad Hanif(CFMS, Islamabad), who gave me the knowledge and understanding about study and examination techniques. As there can be no triumph without loss, no victory without suffering and no freedom without sacrifice, the decision to complete this work early at my Intermediate stage of study SHAKE my career in the form of referrals, but nothing good than to leave something that way for whom who suffer due to lack of balance in their life after choosing CA. It was my personal experience and observation that the students were facing great deal of difficulties in passing exams of ICAP even after studying 18 hours a day. So I have TARGETED the areas where these and majority of the students lack. I am always available in relation to any suggestions or queries regarding this book or any other issue relating to this subject. May Allah bless you all and bless Pakistan with happiness and peace, and make us proud in the field of Chartered Accountancy, Amen!

(Hafiz Muhammad Adnan Rana) E-mail: hmad9rana@hotmail/yahoo.com Web Site: www.hmad9rana.20m.com Phone: 0300-5506483, 0300-5170473, 0432-293768


CONTENTS1. STEPS TOWARDS CA 1.1 The Accountancy Profession 1.2 Institute of Chartered Accountants of Pakistan (ICAP) 1.3 Toughness of Chartered Accountancy 2. THOROUGH STUDY 2.1 Face to face study (Monday to Friday) 2.2 Repetition (Week end) 2.3 Sound Sleep (Daily) 3. SCHOOLING 3.1 Why teachers and textbooks are unclear 3.2 What it takes to be a great student 4. REVISION 4.1 Correct method of revision 4.2 Examiners comments 4.3 Marking scheme 4.4 Presentation Rules 5. EXAMINATION TECHNIQUES 5.1 The aim of exam 5.2 The scope of exam 5.3 The day before the exam 5.4 Well before the exam 5.5 In the exam room 5.6 After the examination 6. REFERRELS AND ARTICLESHIP 6.1 Living with Referrals 6.2 Article ship 6.3 Resume and Cover letter 6.4 Interview and Test 6.5 Training and Module-E & F 7. CAREER PLANNING 7.1 How to make yourself promotable 7.2 The worst career limiting moves 7.3 Soft wares for CAs 7.4 Career planning 8. FAMILY AND YOU 8.1 Marriage MYTHS and Strong Families 8.2 Dining Etiquette 8.3 Todays Kids 8.4 Health vs. Death 04 05 09 13 16 22 24 25 27 29 31 38 42 43 44 45 45 48 49 54 55 59 66 75 75 76 79 81 83 90 95


CAs Lifestyle

4

1.1.1

STEPS TOWARDS CATHE ACCOUNTANCY PROFESSION IN PAKISTAN

The Accountancy Profession in Pakistan is, like in most other countries of the world, split into two streams, namely, the profession of Chartered Accountancy (CA) and the Profession of Cost and Management Accountants (ICMA). The Chartered Accountancy Profession provides the accountants, auditors, finance and business managers for the financial, commercial and industrial sectors, financial, business and investment consultants and taxation advisors. In accordance with the annual report of ICAP for the year June 30, 2002, there are 3036 Chartered Accountants who are the members of the Institutes of Chartered Accountants of Pakistan; the professions regulatory body was created in 1961. It would not be incorrect to state that it is recognized the premier body of the Accountancy Profession in Pakistan. The Cost Accountancy Profession primarily provides Cost Accountants for employment in Government, business and industry. There are about 1800 qualified Cost accountants in Pakistan who are members of Institute of Cost and Management Accountants of Pakistan, a regulatory body set up by the Government in 1966 by re-naming the Institute of Industrial Accountants of Pakistan, which was set up in 1951 by the Government of Pakistan.

Last but not the least the profession of Chartered Accountancy is considered, the world over, as a specialized, highly skilled professional qualification in the world of business, finance and public practice. The competent professional, governed by a strict code of ethics(syllabus at professional level)and professional behavior(governed by ATR)is required to maintain standards of quality work, comply with international standards of Accounting and Auditing and the Pakistan Corporate and other laws(Tax).


CAs Lifestyle

5

1.2 THE INSTITUTE OF CHARTERED ACCOUNTANTS OF PAKISTANICAP came into existence in 1961 with the objective of Making provisions for the regulation of the professional accountants. The ICAP mission Statement, currently under revision, reads as follows: To continue to promote high professional and ethical standards and to equip the students and members with the disguised knowledge and training required to face the challenges of the 21st century In order to achieve the aforesaid missions and objectives the salient features of the various policies and practices currently in place are as follows: Education and training Quality Control Review Investigation and Disciplinary Matters Professional and Technical Standards Corporate Governance Please consult web-site of the institute for details of above topics. Stream of entry to Become A Chartered Accountant ICAP currently has four streams of entry for students desirous of enrolling with it and taking the ICAP examinations with the objective of becoming a Chartered Accountant as detailed at next page: Students must be consciously aware of their learning objective(knowledge gained through theoretical studies is for the purpose of applying it to practical situations requiring decision-making based on comprehensive analysis with alternative, feasible solutions) right from the start of their professional studies at the Foundation level.

A qualified Chartered Accountant is required to possess a high level of competency in managerial, decision making, problem solving and effective communication and analytical skills. One thing that need to be clear at this stage is learning by CRAMMING and re-production of exact material in examination will not make you a competent professional.


CAs LifestyleSTREAM OF ENTRY EDUCATIONAL BACKGROUND ICAP TEST/EXAM (Before commencement of training) 1. PPT 2. Foundation 3. Intermediate Examinations PERIOD OF TRAINING

6ELIGIBILITY PERIOD(For Examination during Training) Module E(18 months after registration) ------------------------Module F(In the last year of Training) Same as above

MFC Scheme

Higher Secondary School/A level

4 Years

Private Graduate Scheme Direct Graduate Trainee Scheme

Graduates 2nd Division Graduate 1st Division(PPT Exempt)

Same as above

Same as Above

-----------Graduate 2nd Division(PPT passed)

5 Years

Post Graduate Trainee Scheme

Masters(MA, MBA etc) minimum 2nd Division

--------------

4 Years

Module-A(6 months after registration) ------------------------Module-B(12 months after registration) ------------------------Module-C(18 months after registration) ------------------------Module-D(24 months after registration) ------------------------Module-E(36months after registration) ------------------------Module-F(in the last year of training) Modules-A & B together(6 months after registration) ------------------------Module-C(12months after registration) ------------------------Module-D(18 months after registration) ------------------------Module-E(30months after registration) ------------------------Module-F(in the last year of training)


CAs LifestyleRecognition of the CA qualification of and by overseas bodies ICAP recognizes the CA qualifications awarded by the following overseas accounting bodies: i) ii) iii) iv) v)

7

The Institute of Chartered Accountants in Australia(www.ica.au) The Canadian Institute of Chartered Accountants(www.cica.ca) The Institute of Chartered Accountants of England and Wales(www.icaew.uk) The Institute of Chartered Accountants in Ireland(www.ica.ir) The Institute of Chartered Accountants in Scotland(www.ica.sc)

Provided that if such members desire to start practice as CA in Pakistan they will be required to sit and pass the papers of (1) Advance Taxation, (2)Corporate Laws of the professional examinations of ICAP. As per the directive of University Grant Commission(UGC), After qualifying intermediate stage of CA, the student should be consider a Graduate and after qualifying complete CA, he/she should be consider Master degree holder in Pakistan. What is CPE? Continuing Professional Education(CPE) is ONLY for qualified Chartered Accountants. The International Accounting and Auditing Standards, which form the basis for the accounting and auditing framework in Pakistan, require a thorough understanding for the purpose of implementation by the Accountants. They for the cornerstone of CPE programs which is structured in nature, mandatory in arms of attendance as lay down in IEG-19, but not punitive in nature as yet. Seminars and Workshops are held regularly at all major centers throughout Pakistan as mentioned in Newsletter of the Institute.


CAs LifestyleICAP OFFICES AND INFORMATION CENTRES CITY ADRESS PHONE # Karachi The Institute of 925163639 Chartered (Code-021) Accountants of Pakistan, Chartered Accountants Avenue, Clifton. Lahore The Institute of 5414486 & Chartered 5423623 Accountants of (Code-042) Pakistan, ICAP Building, 156-157 West Wood Colony, Thokar Niaz Baig, Raiwind Road. The Institute of Chartered Accountants of Pakistan, ICAP Building, G-10/4, Mauve Area Mr. Hamid Masood, 138-140, Regency Arcade, The Mall, Mr. Talat Javed 2nd Floor, 6Commercial Plaza, Opp Civil Hospital, Abdali Road, Mr. Muhammad Ahmed Shahid 2nd Floor Islamia Road, Peshawar Cantt, 9266281 (Code-051)

8E-MAIL [email protected] [email protected] [email protected]

[email protected]

Islamabad

[email protected]

Faisalabad

618255 & 619706

----------------------------

Multan

511979 (Code-061)

----------------------------

Peshawar

2730078 (Code- 091)

[email protected]

Information Centre, 273306 & 277306 Rafaqat Ullah Babar & Co, Green Hotel Building,

RBCO@[email protected]


CAs Lifestyle

9

1.3

TOUGHNESS OF CHARTERED ACCOUNTANCY

Ranking CA as difficult, demanding, stressful, book worming, and even cramming chunks of syllabus material is common in inconsistent people around us. If we took a broader view, we will certainly find that there are problems with every profession. Be it medical, law or engineering, every one will be complaining about toughness of his life. Every one may tell you his dissatisfaction about the profession chosen, job and life style. However, it is because life is becoming demanding and perfection is expected from every one in such a competitive world. One way to be stay ahead is to cultivate positive mental attitude, detailed below, about the profession selected and the life as a whole: POSITIVE MENTAL ATTITUDE We are expected to be accurate, reliable, effective and efficient in all functions related with our profession. Foundation, article-ship and even after that level of RESPONSIBILITY is always rising. How can we manage all such pressure, stress and trauma associated with the work? How can we ensure that life is poised, calm and soothing inspire of all EXAM tensions, stress and nervous breakdown? Is it possible to live calmly whatever the situation may be? There is only one ANSWER to be at peace with oneself and that is a Positive Mental Attitude (PMA) approach. How can we adopt such an approach, which may help us to cultivate a PMA and reap its effect in our every day life? A ten-step formula for developing and maintaining PMA is suggested: STEP 1: TAKE POSSESSION OF YOUR MIND WITH CONVICTION God has gifted us with an instinct because of which we can think and this is our mind [ it is suggested by many scientist that our mind is a complex machine which works even when we may not want it to work i.e. you may be thinking even when you dont want to thing anything!!!] By putting this in practice make a chart of things (see below) and hang it at some place where one can see it as first thing in the morning: I believe my mind is my own I believe I can take possession of m own mind I believe I can direct and control my emotions, moods, feelings, intellect, tendencies, attitudes, passions and habits with the intentions of developing PMA I will develop a positive mental attitude.


CAs Lifestyle

10

STEP 2: KEEP YOU MIND ON THE THINGS YOU WANT After taking charge of your mind, visualize what you want to be. We often hear about vision statementswhat are these? Simply, what do you want to be after 6 years or so? Thinking visually may seem difficult at first. Here is a practical guide which may help you think visually: Make a list of 3 things you want in life.(1)studying on daily basis, (2)improved relationship with parents, and (3)material possession you would like to have, say A Baleno!!! Consider each of these (above). Think of a way to show them visually. Look through magazines or newspapers for pictures whack may help you in visualizing. Put these pictures where you will see them every day.

STEP 3: LIVE THE GOLDEN RULE Think of 3 things for a moment: What do I want others to do for me? (1) Be sympathetic, (2) talk politely, and (3) give me favors etc. Now ask yourself: Am I doing these things to others? By visualizing these too! STEP 4: ELIMINATE ALL NEGATIVE THOUGH Old habits die hard. People think negative when: 1. Your are feeling sorry for yourself as one of your desire hasnt come true 2. Your are passing judgment or blaming a person situation or environment. Your ego has been hurt and your pride has been damaged You are being selfish about your self, someone or some body Write the negative thoughts on a small checklist in your pocket, wallet or bag, which you dont want to think. Look at this at the start f each day and ask yourself: Am I still thinking about such thoughts I refuse to let inside me?


CAs LifestyleSTEP 5: BE HAPPY AND MAKE OTHERS HAPPY TOO To be happy, act happy!!! Solve your CONFLICTS as early as possible you can. Write two simple rules down on an index card and carry this card with you: The best outcome that could happen to my challenge Of might be This could happy. After all its very possible that Could happen

11

STEP 6: FORM A HABIT OF TOLERANCE Generally people become angry when they dont get what they have expected from other people. The only solution of not becoming angry is to keep an open mind towards people and try to like and accept people just as they are instead of demanding or wishing that thy be as you want them to be. Think of one person you have trouble accepting and write that persons name. Now ask yourself, if I did accept that person just as he is how would I he has? What would I actually do? Visualize your answer in concrete terms. Then do it.

STEP 7: GIVE YOURSELF POSITIVE SUGGESTIONS We become what we think most of the time it follow a process of Suggestions which means any stimulus sent to our brains through our five senses(hearing, smelling, feeling, tasting, seeing). All of these are pathways by which external elements influence us in our every day lives. Self-suggestion is the process of purposely and deliberately offering stimuli to you in the form of five senses. Look of the good in whatever you see, hear, taste, smell or feel. Auto-suggestion is the transmission and communication of information stored in the subconscious mind asks to our conscious mind. This information returns to us in form of ideas, dreams, feelings and thoughts. Thus, if we FEED our mind with good, we will come with good ideas.

STEP 8: USE YOUR POWER OF PRAYER If we firmly in God, we must pray, as directed by our religion. When you pray, have faith and believe in that which you ask for. God knows what is better for us and at what time should we be given the thing, which we are asking. Take an example of a small toddler who wants to play with fire, if his mother stops him from going near fire, it is not an act of an enemy but an act of one who wants to protect her child from dangers of fire. So pray and leave the results on him Believing that Almighty is hearing whatever we say to him and he really loves us wants bus for us will certainly help us a great deal.


CAs Lifestyle

12

STEP 9: SET GOALS Setting goals is one way to keep your mind ON the things you want and OFF the things you dont want. D-E-S-I-R-E is the method to write your goals on sheet of paper, which could be use to set and achieve the goals you choose. Success is achieved by those who try. DESIREDetermine (What do you want?), Evaluate (What will you give in turn?), Set a date (When will you have what you want), Identity a plan (What will you do at once?), Repeat Each Day! (In morning and evening read your written statements aloud.

STEP 10: STUDY, THINK AND PLAN DAILY For achieving this step and applying it, it is suggested that: Think about your goal-with PMA Inspect your attitudes-with PMA Inspect your actions and your thinking-with PMA Read inspirational, self-help action material, even if it is only a paragraph, page or chapter-with PMA Take time to study, to think and to plan-with PMA


CAs Lifestyle

13

2.2.1

THOROUGH STUDYFACE TO FACE STUDY

Study means more than just reading a piece of literature. It means close concentrated reading with a notebook at your side. Unless you are one of a few people do not kid yourself you can absorb material by one general read through it, you cannot! There is no special trick to studying. All that is needed is the application of the general principles to be followed in studying anything, which may be summarizing as: Know what you need to know Make sure you know exactly what is in your syllabus. Obtain syllabus booklet from ICAP office or visit web-site of institute. The syllabus of studies prescribed by ICAP covers 90% of the benchmark global syllabus designed by Inter-Governmental Working Group of Experts on International Standards f Accounting and Reporting and UNCTAD as well as the requirements laid sown in International Education Guidelines 9 and 11 of the International Federation of Accountants. All in all it is essential to get past examination papers to give you an idea of the depth of study required. Plan your work Map out a plan for yourself; set targets and achieve them. One thing is certain, studying is not easy but it is not too difficult if you go about it in an orderly purposeful way. Many students fail their examination through bad preparation. Try fixing specific times for each subject, then keep to them by refusing to let anything keep you from your planned task. If you are studying part-time you may be able to spend, say, 12 hours per week. As a rough guide you may think in terms of 150 hours of study per subject in professional examinations. This includes time for practice questions but not for pre-examination revision. That means it is going to take most part-time students the best part of a year to prepare for each sitting: certainly the time from announcement of results to the next examination but one. If you are attending a RAET (Registered Accountancy Education Training), the course structure and college time table will provide your overall plan, but you must still back up the lecture sessions with reading, consolidation and practice questions. Do not expect mere course attendance to provide all you need for the examination. -----------------------------------------------------------------------------------------------------------..................balance the demands for study, professional work and family life

CAs Lifestyle

14

Most people find it productive to break a three-hour study session into fairly short periods of, say, one hour. Build in short breaks for coffee, tea or prayer. As well as varying your study topics, vary your study methods during a session. For example you switch from reading about one topic to answering questions on another. Make use of travel time for reading if you can. This is time that otherwise may be completely wasted. Every few weeks build in some revision sessions to go over material studies so far in conjunction with your notes. Make your reading effective Have you ever read a page from a book and then suddenly realized that you do not have the faintest idea what it was about? The eyes go through motions of reading but the brain is busy thinking of something else. Effective reading means absorbing the material and being able to use later. Several features of this booklet are there to help these processes: Each chapter concludes with a paragraph of summary its contents. Read this before you read the chapter as well as at the end. This gives you an overview of the material to be studied before you begin. Read the chapter again slowly, making orderly notes as you go. Read the chapter summary again. At the end of each chapter there is a set of progress questions. They are there to enable you to test yourself. Rework them at intervals. Read a small area, making notes as you go along. Then ask yourself-what have I just learnt?

Abilities require for effective reading Once convinced of your following abilities, you will WIN over the examiner to be on your side and if you do not possess any or all, never mind, all you need to do is to acquire these abilities. Comprehension is an ability to understand chunk of data/information or opinion and ability to infer meaning out of it. Classification is an ability to highlight salient points/issues for a particular purpose. Analysis is an ability to evaluate material for distinguishing essentials and non-essentials.


CAs LifestyleEvaluation is ability to weight information and opinion. Selection is ability most important issue and salient points are selected. Objectivity is an ability to work in a manner that personal opinion does not intrude it. Composition is the students efforts and skills witness the faithful representation (not reproduction) of material with facts, positive attitude and good tone.

15

Making Notes Making notes is a vital part of learning. First of all, the act of writing the material down helps you to absorb it, especially if you write it in your own words. Secondly, well written notes provide a valuable revision aid. Do not cut corners on note-taking material. Buy suitable paper and files and keep all material neat. Be on the look-out for articles or other material to add to your notes. Notes made during lectures or from library should not go straight into your note book. Take them down on rough paper and write them in your notebook as soon as possible after the lecture or study period.

Working questions You need to buy yourself a book of past examination papers of each subject to provide examination level practice. A typical examination question may range from several topic areas and will require though and preparation before you write the answer. Whenever questions with answers are available to you, the strong temptation is to take a quick look at the answer before attempting it. This is fatal. Any question becomes easy if you have seen the answer. All you will get is delusions of adequacy. Work the question without looking at the answer. Then you have earned the right to read it. Approach to an examination level question is: a) READ the question b) THINK and PLAN your answer c) WRITE your answer.


CAs Lifestyle

16

2.2

REPITITION At the end of each week, and at the end of each month, get into the habit of summarizing the material you have covered to refresh you memory of it. Material needs to be studied using several different methods and with repeated coverage of material. The final repetition before exam is your revision not repetition. The more times you have been through the material before the revision phase the easier and quicker your revision will be. Do not park your self in front of books the whole week end The day of Saturday is enough for repetition; do not even try to park your self in front of books on the day of Sunday. Visit friends home or any good place in the morning, sleep the whole noon and out for shopping, cutting, or dine out at night. Here are the shopping strategies: 2.2.1 Shopping strategies Shopping needs Planning, organization and patience to save your money. It is not you worship money, you worship freedom. You can invest money you save, and it can grow; the things you buy just depreciate. If you save more than you spend, you call shots. When you owe, you are subject to the whims of others. The match game: Use the Sunday paper manufacturers coupons, then use related web-sites or local supermarket fliers to find which stores sales match most of my coupons. Loyalty: you must be loyal to price onlynot to brand or store. All in all think of a price as a suggestion to bargain. Walking down the aisle: The best-priced items are on the high and low shelves; brands with high mark-up are eye level. To convert unit price into your currency use wrist-watch calculator. Look for goods that are buy one, get one free Discount Dreams. Do not trust on the original price on a tag, keep up to date on what things cost and know a deal when I see one. Use retail store prices and online prices for comparison. Prefer slightly imperfect goods or slightly muddy cloths that can easily be washed out.

Why haggle. Sales people bargain for stuff when they shop. You are not going to look greedy or penny-pinching if salespeople are hagglers themselves. You can haggle for: House hold appliances Medical charges Restaurant Meals Clothings


CAs Lifestyle

17

The Flinch. Whatever price a sales person quotes you, even if it is reasonable, look like you have just been flattered by a semi and say. You want how much? Always want the other person to talk first. The Quibble. There is nothing unethical about pointing out a flaw, however minor, and asking for a price reduction. Get in the habit of saying I do not want to pay full price for something that is defective. The nibble. You are about to close a deal and you ask the sales person to throw in something like key-chains, discount cards, lottery coupons, or a polo bag. The sob story. There is no need to invent a ridiculous tale having months to live or caring for your family. Just concentrate on purchasing things. The buddy system. If you are nice to sales people, they will more motivate to help you out. Humor is one way to ingratiate you. The package deal. Extended warranties, service packages, low financing rates, breaks on sales tax. Even if they do not change price, they might gift-wrap these facilities for free. BUY thing with correct size Buy a catalog or request it from manufacturing company to see dresses, designs, colors and style that are IN-fashion and suit you as well. Use the following chart to determine your size, and then order with confidence. BODY MEASUREMENT Size Neck Chest Waist Sleeve Small 14-14 34-36 28-30 32-34 Medium 15-15 38-40 32-34 33-35 Large 16-16 42-44 36-38 34-36


CAs Lifestyle

18

Neck. Measure a shirt collar that fits you well. Lay collar flat. Measure from centre of collar button to far end of opposite buttonhole. Chest. For chest, measure just under arms and across shoulder blades, holding tape firm and level. Waist. Measure around your natural waistline Sleeve. With arm relaxed at side and slightly bent, measure from center back neck, over pint of shoulder, down outside of arm to wrist.

Other body-part measurementsHats Sizes Hat size Head size Small 6.75 6. 875 21.12521.50 Medium 7-7.378 21.87522.25 Large 7.25-7.378 22.62523.00

Belts. Order same size as your pants waist size. If in-between sizes, order next larger sizes Gloves. Measure around the knuckles with hand flat excluding the thumb. Number of inches equals glove size. Inseam. Measure similar pants that fit you well. Lay them flat, with the front and back creased smooth. Measure along the inseam from crotch to bottom beg hem. Shoes. Following guidelines are given while purchasing shoes: Make sure you have worn appropriate socks. Recommended time to purchase a shoe is between 2:00 pm to 5:00 pm because during that time foot size is bigger than its normal size. Try shoes in your right foot if you write with right hand. And if you write with your left hand then try shoes on left foot. Stand up and walk with new shoes to ensure it is comfortable and that you have select correct size of shoes for try. Only purchase shoes that best fit your foot, and clear miss-concept shoes will stretch after purchase. They do not! Socks sizes Shoe size 5-9 9-12 12-14 Sock size Medium Large Extra large


CAs Lifestyle

19

2.2.2 HAIR CUTTINGAfter every 15 days hair need cutting or your beard need to be set? Talking about cutting you now has many choices for hair styles.. You need to do some foot work at home. Explore new cuts for free at Clairols Try it on Studio (www.clairol.com/tios_2.jsp ) or iVillages makeover-o-matic (substance.com/es/mom). Pick a model that looks like you or upload your photo and play before you pick. The Makeover-o-Matic (pictures)has a dozen models with different face shapes, over 30 different cuts and a full-color spectrum for hair and makeup. There are even accessories, such as glasses, that you can add to test the new you for all occasions.

2.2.3

PERFECT HOLIDAY PLANNING Take these steps to get the best our of your days away. 1. Put your work in order: and allow time to decompress before taking off. Simple foods survive a journey better than anything elaborate. Pick disposable dishes. For salads, use crisp ingredients such as carrots rather than soft lettuces than can go limp. Do not take fizzy drinks unless there is time for them to settle after the journey. Put soft drink in cool boxes. Keep food fresh in plastic containers or biscuit tins. The lids will also deter unwanted guests such as wasps and flies. Pack the food, using a cool box, shopping bag or cardboard box, in the right order-first course at the top, dessert at the bottom. Store everything in the car boot as it is the coolest place in the car. A traditional hamper is useful for holding plates and cutlery. And do not forget a bag for collecting the rubbish afterwards. Select a shady spot with level ground. And enjoy! 2. Review your vacation goals. What do you really want-time in the back yard to read a book or an exotic gateway on a secluded island? 3. Be Flexible: you may have a mental image about how your time off should go, but chance will intervene. Consider holidays a little more like adventures.. Many visitors spice their holiday by selecting life-threatening site for adventure you must know first-aid techniques and consequences and remedies for uncertain events. As an example, here are consequences of selecting risky adventures:


CAs Lifestyle

20

Biological Weapons Anthrax: Causes fever, septic shock, difficulty breathing, death in 24-27 hours. Botulinum Toxin: Toxin causes blurred vision, difficulty swallowing, paralysis, respiratory failure, death in as few as 24 hours. Aflatoxin: A mould toxin; can cause haemorrhage, convulsions, coma liver cancer, death. Gas Gangrene: Bacterial infection can cause tissue death, shock, kidney failure, coma, often death.

Chemical Weapons VX Nerve Gas: Affects nervous system causes convulsions, respiratory paralysis. Sarin: Attacks nervous system, paralyses muscles used for breathing; can cause death within minutes. Mustard Gas: Causes skin and eye burns and blisters. Inhaled, can cause long term respiratory disease and cancer. 4. Leave work at home. Resist calls and emails. Your job now is to relax and have fun. 5. Plan re-entry. Give yourself a transition day before returning to the job.

2.2.4 DINING IN or OUTGet together at your friends place on weekend over a cup of tea or dine out in any fastfood restaurant like KFC and Macdonaldsthe reason for advocating this is you will learn how to eat at international level. One very common problem is making a separate teavery simple just purchase Liptons small tea-bag container and read out instructions inside the cardboard box. Dining at KFC and Macdonalds has raised various issues including Mad Cow and Avail Fluled to international meet crisis. What Mad Cow Primer really isit goes through 4-stpes as detailed below: Step 1: Infectiona cow eats feed contaminated with nervous-system tissue from a diseased cow or sheep. A spontaneous mutation may also create the prions that cause the illness.


CAs Lifestyle

21

Step 2: SpreadPrions force proteins to misfiled throughout the nervous system and bone marrow, eventually ravaging the brain and crippling the afflicted cow. Step3: Into the food Supplya downer cow (those too sick to walk) is slaughtered for meat. Steaks and shops are presumed to be safe, but careless processing can let bits of nervous system tissue or marrow get into ground beef. Step 4: Onto the Platehumans eat contaminated tissue. If prions in the meat corrupt human protein molecules, paralysis, dementia and death can follow.

The term Junk food is very confusing to majority of people. It generally includes such things as: Salted Snacks Sweets Gum Instant noodles Carbonated drinkscoca cola, sprite etc. Food from fast-food restaurants


CAs Lifestyle

22

2.3 SOUND SLEEPIn our plugged-in, demanding, and overworked profession of Chartered Accountancy, each waking moment bombards our brain with sensations, thoughts and feelings. If our brain tried to store them all as memories, we might experience overload. Sleep may help edit out some of those impressions. Students of CA sacrifice their sleep to study all the night thereby willfully ignoring the bad consequences on their brain and overall health. Stop that attitudethe key to success in CA is consistency, passion, dedication towards study not the tendency to study whole the night for some days and rest on other days. You can not catch up on lost sleep. Getting more sleep at the weekend does not make up for too little sleep during the week. We need to change our attitudes. Sleep is not a form of laziness: it may make us smarter and healthier. We need to promote sleep as a necessary ingredient of a healthy life. Duration of sleep. A century ago most people got about nine hours a night. Researchers say that most of us need about eight hours. Nowadays we get about seven hours on average, and a third of us get by on six or less. Phases of Sleep. It is not the length of sleep that is so important but the phases of sleep. During the night we go through several cycles of about 90 minutes. Every cycle consists of three phases-first light sleep we slumber deeply; after that, we dream. In deep sleep, the body recuperates; in dream sleep, the mind relaxes. Light sleep is a kind of transition between the two.

Sleep Disorder solution. People suffering from a sleep disorder, may take medication without thinking through the consequences. A pill can offer quick relief, but many people do not realize that they can become dependent in as little as four weeks. Sleeping pills should be used on a doctors prescription. The physician should establish the dosage level and duration of treatment. You should not increase the dose yourself. Before restoring to medication, try these easy steps for a better nights rest: 1. Eat and Live Healthily. People with sleeping problems should not consume stimulants such as tobacco or caffeine. Also avoid big meal before bedtime. A heavy evening meal activates digestion, which stops the body from winding down.


CAs Lifestyle

23

2. Relax. People who lead busy and stressful lives often have trouble sleeping. It is advisable to create an oasis between the waking days events and going to the bed. Unwind with a good book or go for an evening walk with your partner to clear up the day. 3. Exercise More. If you jog, ride a bicycle or swim for half an hour at least three times a week, you will need more sleep-and you will increase your deep sleep phases. 4. Improve your Bedroom. The bedroom and particularly the bed should condition us to fall asleep. Here is how to make your bedroom as restful as possible: Chose the quietest room. Air the room well before going to bed, or leave the window slightly open through the night. Set the temperature at a comfortable level. Use curtains or blinds to darken the room as much as possible. Choose good mattresses, with proper back support. Use bedding that is appropriate for the season. 5. Go to the Bed at the right time. Go to the bed and get up at about the same time Including in the weekends. Regular time for getting up ensures that our biological Rhythm-our inner clock in not disturbed. 6. Create a Bed time Ritual. A bath-temperature: 34 to 38 degrees-can make you Sleepy. Lavender oil is relaxing. Bed time snacks such as a banana or hot milk with honey contain the protein element L-tryptophan, which gears the brain for sleep.

7. Get up rather than toss and turn. If you have to get up briefly at night, do not Switch on a bright light. It can upset your inner clock and cause wakefulness. Or You are not sleep. Avoid thinking I have to sleep now because I have got to get Up in two hours will make falling asleep even harder. Try not to watch your Bed side clock. Position the clock so that the luminous figures or ticking do not Disturb you.


CAs Lifestyle

24

3. SCHOOLING3.1WHY TEACHERS AND TEXTBOOKS ARE UNCLEAR On every page, and on every daily news papers, textbooks and teachers use words whose meanings they do not explain. If you do not know the meaning your brain will say to itself, quickly and quietly I do not know what.mean, no one is telling me what it means. I can not really understand what going on, so I will stop listening. Other reasons may be the bad planning of study-hours leaving us nothing to gain or retain except wastage of time. Here is recommended approach for your study: If attending RAET If not attending RAET* 1. Over view of material to be 1. Overview of material to be studied(chapter summaries) studied(chapter summaries) 2. Before a lecture, take a look at the 2. Read the Chapter subject briefly 3. Re-read the chapter slowly, making 3. Attend Lecture notes as you go. 4. Consolidate lecture by reading material, making notes as you go. 5. Answer Chapter Round-up 4. Answer Chapter Round-up questions questions 6. Repetition 5. Repetition 7. Revision 6. Revision 8. Answer examination questions 7. Answer examination questions 9. Final Revision 8. Final Revision 10. Sit Examination 9. Sit Examination *Registered Accountancy Educational Training

During reading books and taking notes of lectures during class hour you need to follow STAY TUNED STRATEGY that has three steps detailed below: STEP 1: when you are listening to a teacher or reading a text book, make a point of noticing all words that are not explained. Take special not of the fact that books and teachers are not gaining you the information you need truly to understand what they are saying.


CAs Lifestyle

25

STEP 2: even though a statement is unexplained and unclear, accept it for what it is worth. Realize that you do not truly understand it, but at the same time record it in your mind, knowing that your teacher expects you to repeat it. STEP 3: when you feel yourself turning off, look for the reason. Notice that the teacher used a word without explaining it, and find the word on lecture-notes and circle it. And when you get home, look at your notes, write this down: The teacher said that. The statement is unclear because I do not understand whatmeans. Still the word must mean something, and for now I will remember the statement, even though I do not understand it Why you should not look in a dictionary and find out what all these strange words mean? Two reasons. First, you are exposed every day to lots of unexplained words. If you tried to understand them all, you would never get away from dictionaries and encyclopedias. Second, many of the words to which you are exposed are very complicatedyou can not understand them simply by looking them up.

3.2 WHAT IT TAKES TO BE A GREAT STUDENTHave you ever notice that the smartest people in your class are not necessarily the ones who get straight As? And what about those students who are definitely not geniuses but somehow pull off perfect grade-point averages anyway? Is it all those extra-credit assignments? Do they park themselves in front of their books all weekend? Are they working harder than you are? How do these people do it? The answer is simple: they have discovered that earning high grades require more than just a good brain. It requires mastery of a method explain as follows: Grades Low grades say absolutely nothing about either your ability to learn or your capacity to earn high grades. They do not indicate that your are dumb or slow or lazy. Low grades mean only that you are not learning well, and that is usually because teachers are not presenting things in a way that is understandable to you or text books are not clear to you.


CAs Lifestyle

26

You will raise your grades if you truly recognize the difference between understanding that is deep and understanding that is shallow. Why? Mindless repetition usually earns high grades. And deep understanding usually does not. True learning is a lot more fun than mindless repetition. It feels good, and it usually makes you want to know more. True learning is the key to real education, it is very important but there is one problem with true learning: it is not the key to high grades. Pay attention Students often do not pay attention in class and teachers know it. They figure that students would learn more if only the can stop their minds from wandering. The human mind naturally looks for understanding, and it can not understand anything if people assume it knows something that it doesnt know. Its natural response is to stop listening. Think about it, what happen if someone talks to you and starts using words you do not quite understand? Concentration Whether we know it or not people having lots of different thoughts and feelings all at the same time: listen to music watch television play videogame ski talk with our friends do well in school Do well at our jobs and lots of other things. Frequently, these different thoughts and feelings are pulling you in different directions. So there is hard to concentrate when you sit down to do your home work. Here is how you can concentrate: Appreciate. Accept the problem that you can do one thing at a one time Fight: you have to fight the problem. Every time you sit down to study, tell yourself I can do one thing at a time, and right now I am doing . I am, I do and I will---play tennis, talk on telephone, and listen to music at other times. But right now I am doing. it is not forever it is just for right now. Planning. You should divide your study hours in two to three segments with 5 minutes break in-between these segments. Once you make that decision, stick to it. Make yourself absolutely unavailable for anything except for study. If your thought turn to other things, just tell yourself, once again, that work would not last forever, you are only doing it for right now.


CAs Lifestyle

27

4.4.1

REVISION

Most people think of revision as just reading notes and trying to remember them. This is true to some extent but there are some ways of revising more effectively. CORRECT METHOD OF REVISION Planning The first thing to say about revision is that it is an addition to your initial studies, not a substitute for them. Planning is important to maximize the value of your revision work. You need to balance the demands for study, professional work, family life and other commitments. To make this work, you will need to think carefully about how to make best use of your time. Begin by comparing the estimates hours you will need to devote to revision with the hours available to you in the weeks leading up to the examination. Preparing a written schedule setting out the areas you intended to cover during particular weeks, and break that down further into topics for each day revision. To help focus on the key areas tries to establish: Which areas you are weakest on, so that you can concentrate on the topics where effort is particularly needed Which areas are especially significant for the examinations-the topics that are testes frequently? And do not continue your revision timetable right up to the moment when you enter the exam hall: you should aim to stop work a day or even two days before the exam.


CAs LifestyleGetting down to work

28

Where should you revise? Choose a room where there will be no distractions. Work at a table or desk Some students like to work in local library. This can be quite a good idea but these can be distractions, such as people moving around. Try to work in silence. You should make a time table and decide how long to revise for. Planned breaks in revision increase the amount of information you retain. UNPLUG your phone. Let everybody know that you are studying and should not be disturbed. How often should you revise? Revision should be a constant process on WEEK ends of your course. Try not to leave your revision to the few weeks before the exam. Divide your work into topics and then revise a topic at a time. Stick to your plan and make up for any lost time. Do not move on to a new topic until you have mastered the old one. It is better to have a thorough knowledge of a few topics than a skimpy knowledge of the whole syllabus. What is the best time to revise? Most people are at their peak early in the morning. Near exam time try to get up earlier. If you are on holiday then early morning is an ideal time, because you will have fewer distractions from other people in the house. Early evening is a good time before you get tired. What shall I revise? Ideally it would be best if you could revise the whole syllabus. If you have any difficulty with certain topics then you could leave them out but you will need to know the other topics really well.


CAs LifestyleTIPS FOR THE FINAL REVISION PHASE As the exam looms closer, consider the following list of techniques and make use of those that work for you:

29

Summaries your notes into more concise form. Go through your notes with a highlighter pen, marking key concepts and definitions. On areas that you find difficult, rework questions that you have already attempted and compare your answers. Rework questions you attempted earlier in your studies with a view to producing more polished answers.

4.2 Examiner CommentsAfter every examination an examiners report is prepared and you are urged to obtain a copy and thoroughly digest the contents. Much useful advice is given not only about the detail of individual questions, but about the general approach to be adopted. The examiner comments are being reproduced to assist the candidates in knowing what is expected of them and where they have fallen short of those expectations. In order to full appreciate examiners comments, the candidates must have in their view the level achievement necessary for a pass standing in the examination The examination determines whether the candidates have achieved the minimum desirable level of a professional competence which the institute looks for and the ability to apply CA entry level knowledge to theories, principles and practices to situations and problems likely to be encountered in professional practice. Accordingly, candidates should demonstrate their ability to: Apply knowledge as required by the prescribed syllabus Identify, define and rank problems and issues, when not specially directed to them by the questions. Solve problems in an analytical interactive manner, exercise judgment in developing and evaluating alternatives and proposing practical solutions and Communicate effectively with users and respond to users needs


CAs Lifestyle

30

The institute attempts to measure, to the extent possible, in written examinations the maturity of the candidates judgment and their ability to make useful recommendations to clients, supported by analysis of the type and quality expected of Chartered Accountants in practice.

Ever since examinations were invented examiners have complained, with justice, about similar problems and deficiencies. The more common ones include: Not starting each question on a new fresh page Failure to read the question Failure to answer the question as set Bad English Poor writing Careless work, especial with calculations Rote learning rather than real understanding Poor charts/diagrams with no titles Inadequate time planning resulting in the failure to answer all questions Failure to relate theory and practice

You are strongly advised to note carefully the above list of common failings and to make sure that you are not guilty of any of them.


CAs Lifestyle

31

4.3 Marking SchemeVery true, students are not satisfied with marking scheme at ICAP and two third are those who have either failed or referrals and one third of them file Writ in Court against ICAP to recheck their paper(s), this is not professional behavior. To me this is simply ignorance to marking scheme. Lets see how papers are set, mark and recheck to focus our wild guess to particular point of view: Independent examination committee The examination process is directly supervised by the Examination Committee which is a statutory committee under the bye-laws and is appointed by the Council of the Institute. This Committee is assisted in its day to day operations by the Director of Examinations. The examination Committee formulates all examination policies, selects the paper setters and examiners and ensures that examination is conducted in a transparent manner whereby all candidates are treated fairly and objectively. What is paper-checking method? 1. Perforated part of answer book is separated to make it anonymous. 2. Selected examiners, for marking any paper of any module, get together is auditorium of Examination Department. 3. Examiners are instructed to check only one specified question. 4. Along with answer book examiners are also provided with Solved answer sheet and question paper. 5. Deadline is given to check each question. 6. After marking the question examiner comment on the question. How question papers are set? A strict criterion is observed to select paper setter to ensure their independence and expect he will remain partial. After setting a paper he solved it in specified time to check whether paper can be solved in 3-hours time. In selecting question he observes the followings: Most examination questions can be seen to test one or more of the following: Your ability to recall facts Your level of understanding of a topic Your ability to apply theory to some practical problem Your ability to analyze a situation or problem Your ability to interpret or make an informed judgment about an issue.


CAs Lifestyle

32

Is reproduction of exact study-material word-by-word giving us passing-license? No, our profession discourages rote learning and encourages understanding. Questions are not marked on that foolish pattern rather there is criteria detailed below:

In awarding the mark to each question examiner consider the pass/fail assessment criteria: Adequacy of answer plan Structured answer Inclusion of significant facts Information given not repeated Relevant content Inferences made Commercial awareness High skills demonstrated Professional commentary So, by now, straight criticism is not a solution rather the best teacher in the world is inside you. After the exams are finished you solve all question papers under exam-like environment with same presentation, produced material and then either give answer sheet to your teacher or wait for publication of solved paper and compare. It will help you to assess where you stand and if you were right in your criticism.


CAs Lifestyle

33

What is marking scheme? A book-let containing answer sheet, marking scheme, and question paper is provided to each examiner. Format of marking scheme is given below: MARKING SCHEME

GENERAL: Marks must only be awarded for points relevant to answering the question set. Unless otherwise indicated, marks should not be awarded for restating the facts of the question. For most question you should award a mark for a point of knowledge, 1 mark for the application of knowledge and 1 marks for a point demonstrating a higher skill expected. The model answers are indicative of the breadth and depth of possible answer points, but are exhaustive. Most questions require candidates to include a range of points in their answer, so an answer which concentrates on one or a few points should normally be expected to result in a lower mark than one which considers a range of points In awarding the mark to each part of the question you should consider whether the standard of the candidates answer is above or below the passing grade. If it is of pass standard it should be awarded a mark of 50% or more and it should be awarded less than 50% marks if it does not achieve a pass standard. When you have completed marking a question you should consider whether the total mark is fair.

In general, the most of these you can access in the affirmative, the higher the mark awarded should be. If you decide the total mark is not a proper reflection of the standard of the candidates answer, you should review the candidates answer and adjust marks, where appropriate, so that the total mar awarded is fair.


CAs LifestyleQUESTION SPECIFIC MARKING SCHEME

34

Information Technology (TECHNICAL PAPER) This marking scheme is given as a guide to markers in the context of the suggested answer. Scope is given to markers to award marks for alternative approaches to a question, including relevant comments, and where well reasoned conclusions are provided. This is particularly the case for essay based questions where there will often be more than one definitive solution. In many questions suggested model answers were given to open ended questions, please give credit for any valid alternative responses within the limits of the marking scheme. MARKS 1 (a) (I) Award up to 2 marks for description. (ii) Award 1 mark for each valid point up to a max of 8 marks. 10

(b)

(I) Award up to 2 marks for description plus 1 mark for an example (ii) Award up to 4 marks for issue raised up to a max 20 marks 22 Total 32

2

(a) (b)

Award up to 2 marks Award 0.5 mark for each correct description max 5 marks Total

2 7 9


CAs Lifestyle

35

AUDITING( MCQ TYPE + TECHNICAL PAPER) This marking scheme is given as a guide to markers in the context of the suggested answer. Scope is given to markers to award marks for alternative approaches to a question, including relevant comments, and where well reasoned conclusions are provided. This is particularly the case for essay based questions where there will often be more than one definitive solution. Marks Marks 1. (a) Impact on conduct of audit Generally 1 mark each point contributing to an explanation max 15 Ideas Consider perspective company, group, other subsidiaries Aspects of conduct of audit practice management planning including materiality and risk assessment audit strategy/evidence Review (b) Audit Strategy For conclusion(consistent with justification) max 1 Generally 1 mark each point in justification 5 Justification IR CR DR Revenue/debtors Purchases/creditors max 06 ( c) Principal business risks Generally mark each area of business risk identified max 3 Areas of business risk Growth cash flow Chief executive Financial information Going concern Generally one mark each point contributing to a description 6 Max 09 ---------------30 ----------------


CAs Lifestyle

36

COST ACCOUNTING(MATHEMATICAL PAPERS)

This marking scheme is given as a guide to markers in the context of the suggested answer. Scope is given to markers to award marks for alternative approaches to a question, including relevant comments, and where well reasoned conclusions are provided. This is particularly the case for essay based questions where there will often be more than one definitive solution. 1 (a) (i) Calculation of discount rate implied in the early settlement Decision on payment period 2 1 3 (ii) Calculation of basic EOQ(ignoring discounts) Evaluation of purchase costs with discounts Decision on optimal policy (b) 1 4 1 6 Defining frequency of orders 1 Consideration of scheduling of orders 1 Preparation of cash budget in accordance with answer to part(a) 9 11 20 2 (a) Material usage variance Material mix variance Material yield variance Labor rate variance Labor efficiency variance Explanation of mix and yield variance Up to 2 marks each for identification of possible reasons for the Variances calculated in part(a) 1 3 3 2 2 11 (b) 5 4 9 20


CAs LifestyleCOMPANY LAW(Including business law and Tax papers)

37

This marking scheme is given as a guide to markers in the context of the suggested answer. Scope is given to markers to award marks for alternative approaches to a question, including relevant comments, and where well reasoned conclusions are provided. This is particularly the case for essay based questions where there will often be more than one definitive solution. 1 This question specifically refers to the registration of public limited companies and therefore reference must be made to the requirements for such companies to acquire section 30 certificates before they can commence trading. 8-10 Answers will show a thorough understanding of the registration process, Listing the documents required, and will make clear reference to the trading certificates in relation to public companies.

5-7 2-4

A sound understanding of the area, although perhaps lacking in detail. Some understanding of the area but lacking in detail, perhaps failing to Deal with the need for a trading certificate. Little or no knowledge of the area.

0-1

2

This question is divided into three parts, and each part will be allocated three Marks, with one mark floating in order to allow markers the best performance in any one particular part. 6-8 4-6 0-4 Thorough treatment of all three aspects of the question. Thorough treatment of two of the aspects. Unbalanced answer, merely dealing with one part of the question, or Demonstrating no real understanding of the nature of the question.


CAs Lifestyle

38

4.4 PRESENTATION RULESPresentation is an important feature of the examination and you should ensure that you bear the following points in mind and know the format of Answer sheet: Front page of answer sheetANSWER BOOK (Name of candidate) ------------------------------(Foundation/Intermediate/Final) ------------------------------(Signature of Candidate) -------------------------------------(Roll Number) -------------------------------------(Signature of Invigilator)

---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------(Name of Candidate) ---------------------------------------------(Foundation/Intermediate/Final) ---------------------------------------------(Roll Number) ---------------------------------------------(Date of Examination)

Question No.

Tick attempted questions

No of copies attached--------------------

---------------------------------------------(Signature of Centre supervisor)

Q. 1 Q.2 Q.3 Q.4 Q.5 Q.6 Q.7 Q.8 Q.9 Q.10 Q.11 Q.12

TO BE FILLED IN BY THE EXAMINER Question No. Marks Obtain Q.1 Q.2 Q.3 Q.4 Q.5 Q.6 Q.7 Q.8 Q.9 Q.10 Q.11 Q.12

-----------------------------(Signature of Examiner)

------------------------------(Signature of Re-Checker)


CAs LifestyleFirst page of Answer sheet Sheet number (1)

39

Question No.

New Question must be start on fresh page

Do not write on This margin

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


CAs Lifestyle

40

Now you have the clear idea what is the format of answer sheet, to put your answers in correct here is the series of guidelines:

General Presentation RulesA. Check that you have correct exam paper in front of you. Several different exams may be going on at the same time B. Check that there are no pages missing from the answer book C. If there is anything wrong with either question paper or with Answer book, then you should ask for a new one. D. Do not be critical of any specific question or the paper in General. Examiners are human and such behavior is Bound to upset them. E. Always use a new page for each answer F. Ensure all your workings are neat and cross referenced to the answer. G. Separate paragraphs by leaving a space between each. H. If you have made an error, simply cross it through with your ruler and Write in the correct answer underneath. Avoid use of correction fluid.

Question specific presentation rulesMultiple choice questions These questions are used to examine your standard of knowledge across the syllabus. An answer is simple right or wrong; there age are no grey areas. MCQs are broken down into two parts; the problem or task to be solved, and the options you must choose from. There is only ever one correct answer: the other options are known as distractors. Your approach to MCQs should be as follows: Attempt each MCQ within the time allowed. Some can be tricky and you may be tempted to run over time. Do not. For numerical MCQs, in the majority of cases you will need to do some rough workings. Never rush to select your answer; some options might initially look plausible, but on closer scrutiny turn out to be distractors. Unless you are certain of the answer, look carefully at all the options before choosing. If you are finding the MCQ difficult and your time allocation is up, move on to the next one. Time permitting, revisit those MCQs which you left unanswered and refer to your original workings Remember: you must never omit to answer an MCQ as there is no penalty for an incorrect answer.


CAs Lifestyle

41

Numerical questions If you know a pro-forma which will assist you in answering a numerical question, set it up before working numbers into it. You will be awarded marks for that. You will find columnar layouts helpful when attempting numerical questions. They also make your answer easier to mark. Always keep the main body of your answer away from the workings. Workings are an extremely important aspect when answering questions, so all workings should be included. Provided that your workings are neat, if an arithmetical error is made it is easy for the marker to identify it. Workings use to calculate figures in the main answer should be cross referenced. If at a late stage you identify an error in your answer, do not waste time by amending the consequential effects. It is more useful to put a footnote to your answer stating how the correction would have affected your answer. If you are asked to comment on numerical answers, do not forget to do so. These marks are as important as any other and are normally relatively easy to gainprovided that you have understood your numerical calculations.

Essay Type questions Follow the general rules detailed above. Jot down points from the question that you feel may be important. Taking the points you have noted, structure you plan, which you will use in answering the question. Break your answer down, using short paragraphs for each point you are making, headings, and bullet points.


CAs Lifestyle

42

5.5.1

EXAMINATION TECHNIQUE

To pass any examination you must (a) have the knowledge, (b) convince the examiner you have the knowledge, and (c) convince him within the time allowed. Success will be much more assured if you apply the examination hints given below.

THE AIM OF EXAMINATION Students must be consciously aware of their learning objective, right from the start of their professional studies at the foundation and intermediate level. Students must understand that knowledge gained through theoretical studies is for the purpose of applying it to practical or analysis with alternative, feasible solutions. Learning by rote and assessment of an examinees ability to reproduce from memory defeats the very purpose of educating students to become competent professionals who are expected, upon qualifying, to independently address all professional matters for which they have been educated and trained. The students approach their learning with an imaginative and application oriented focus for passing their examinations and acquiring the CA qualification as competent and proficient professionals.


CAs Lifestyle

43

5.2

SCOPE OF EXAMINATION

The CA examinations are designed to assess on a consistent basis the candidates all round theoretical knowledge and application skills as precisely as possible. In order to assist the examiners in this objective and to provide a general guidance to candidates preparing for these examinations, indicative grids showing relative weight age have been drawn up for each section of syllabus. Besides weightage given in syllabus booklet that is only for syllabus material, here is scope of examination that form the nature and style of examination: COMPONENT Short form Questions Descriptive and computational Questions K* 15% A** 10% TOTAL 25%

45%

30%

75%

60%

40%

100%

*Testing of knowledge **Awareness at Foundation Level and Application of Knowledge at Professional level. No amount of examination room technique will enable you to pass unless you have prepared yourself thoroughly beforehand. The period of preparation may be years or months long. It is no use expecting to pass with a feverish last minute of revision. By this stage you should have worked through all of the books and you should be thoroughly familiar with your syllabus and the type of examination questions that you have been set in the past.


CAs Lifestyle

44

5.3a. b. c. d. e. f.

THE DAY BEFORE THE EXAMINATION Make sure you know exact time, date and location of examination. Carefully check your travel arrangements. Leave yourself adequate time. Overhaul your equipment: Calculator? Spare Battery? Pens? Pencils? Tables? Watch? Sweets? etc. Check your examination number. Try to get a good night sleep but do not try to take sleeping pills or the like. Relax as much as possible. If you havent done enough work by now you wont have enough time to make up the difference. Here is the relaxation technique called Meditation: (Relaxation Technique)

MEDITATION

You need about 15-20 minute session daily with yourself to unwind. Meditation relaxes body and calms mind. Meditation is a scientifically proven antidote for stress, tension, anxiety, and panic. Many people find it helpful for headaches and respiratory problems such as emphysema and asthma. Meditation in essence is a thought-directing process. It attempts to free our mind from unhealthy undesirable thoughts that taint our thinking unconsciously. It unifies scattered attention and energy. Since it requires concentration, it clears mind and improves memory. How can you do it? The best time to meditate is when you get up and schedule for them same times each day before anything eating. Devoting first fifteen minutes of your day to this activity is a health investment. To optimize the experience you need a quiet environment where you will not be disturbed. Wear comfortable clothes and assume a sitting position. Sit on floor or on a chair. Either way, the spine should be vertical. The classic meditation position is sitting cross-legged on the floor. Lastly you need something to focus your mind such as a religious symbol, flower, or a word or phrase. Slow, rhythmic breathing is necessity in all forms of meditation.


CAs Lifestyle

45

Approaches to Meditation Transcendental Meditation: it involves mental repetition of a word. It may well be any of the many beautiful names mentioned in Holy Quran. Breath Meditation: this technique calls for concentration on respiration, the process of inhaling and exhaling. Body Scan Meditation: This form of meditation focuses on the present moment. You move your focus through the body, from the tips of the toes to the top of the head, paying particular attention to any areas that cause pain or suffer from a medical problem. The body scans usually done while lying down. As an alternative to meditation, you can play snake game available on every Nokia mobile phones (3310, 3210). To me this is equivalent to meditation because this game needs 100% attention----One rule to play this game is to secure above 300 scoresso that this game catch your attentionif you fail to get 300 scores restart game again until you achieve the target--this will certainly help you focusing your attention at one particular point (to play game).

5.4

WELL BEFORE THE EXAMINATION Have a good meal before the exam. You will get nothing to eat for three hours. Go to the toilet before the exam. This avoids the embarrassment of having to leave the room under supervision. Check to see if you have to wear uniform or acceptable dresses. IN THE EXAMINATION ROOM

5.5

If you have followed the rules so far you are well prepared; you have all the equipment you need; you did not have to rush-YOU ARE CALM AND CONFIDENT. Atmosphere of the exam room The atmosphere of the exam room has something to do with this. Try to forget everything from your mind other than the job in hand. Concentrate hard. If you feel a bit panicky grip the table, take a deep breath, and get on with it. Remember things are never as bad as they seem!


CAs Lifestyle

46

Before you start writing: a. Care fully read the whole examination paper including the rubric. Quick starters are generally poor performers b. Decide what questions you are going to answer. c. Decide the sequence you will tackle the questions. Generally, answer the easiest question first. d. Decide the time allocation for each question. In general the time allocation should be in direct proportion to marks for each question. Divide the total exam marks into the total exam time(less planning time) to obtain minutes per mark figure, and allow that many minutes per mark of each individual question. Dealing with the question: a. Make sure you plan each question first. Make a note of the main points or principles involved. If you are unable to finish the question you will gain some marks from these points. Examiners are more impressed by a solid mass of points than an unending development of one solitary idea. b. Attempt all questions required and each part of each question. You can earn more marks by half completing two answers than by completing either one individually. c. Do not let your answer ramble on. Be as brief as possible consistent with covering all the points you know. d. Follow a logical sequence in your answers. Its quicker, more accurate and gives a greater impression of competence if you follow a predetermined logical path instead of jumping about from place to place as ideas come to you. e. Write neatly, underline headings and if the question asks for a particular sequence of answer then follow that sequence. f. If diagrams graphs or tables are required give them plenty of space, label them neatly and comprehensively, and give a key to symbols, lines etc uses. A simple clear diagram showing the main points can often gain a good proportion of the marks for a question. g. Decide what the examiner wants h. Concentrate on displaying your knowledge, not your ignorance. There is almost always one question you need to attempt and are not happy about. In answering to such a question put down all you do now and then devote unused time to improving some other answer. i. If time runs out then if it is a numerical answer, do not bother to work out the figures. Show the examiner by means of your layout that you know what steps need to be taken and which pieces of data re applicable. Or, if it is an essay question, put down answer in the form of notes.


CAs Lifestyle

47

j. Use TELL, ILLUSTRATE, CONCLUDE formula. k. Refer specially to workings and put them in order, clearly labeled. Remember random jotting around a page will not attract as many marks as a carefully sequenced set of workings. l. You can not stand on examiners shoulder and explain the real meaning of your script and terminology. Say what you mean and leave nothing. m. Begin each question on a separate sheet of paper. Also, leave space between parts of the answer and even between paragraphs. Being nervous (that is having the adrenalin flow) enables on to work at a much more concentrated pitch for a longer time without fatigue. Panic, on the other hands, destroys ones judgment. To avoid panic(a) concentrate simply on maximizing your mark leave considerations of passing or failing, (b) take two or three deep breaths, (c)answer the easiest questions first it helps to build confidence to crack the difficult ones later. When you have finished writing: a. Check that you have followed the examination regulations regarding examination title, examination number, candidates number and sequence of answer sheets. b. Make sure you include all the sheets you require to be marked. c. If you have time carefully read each and every part of each answer for obvious errors or mis-spellings and check each calculation. d. Assure yourself that you have done justice with paper General points: a. Concentrate on answering the questions set not some related topic which you happen to know something about. b. Do not leave the examination room early. Use every minute for checking and rechecking or adding points to questions answered. c. Always attempt every question set and every par of each question. d. Stay until the end of the exam. Use any spare time checking and rechecking your script.


CAs Lifestyle

48

5.6

AFTER THE EXAMINATION Do not worry if you feel you have performed badly in the exam: it is more than likely that the other candidates also have found the exam difficult too. Do not forget that there is a competitive element in these exams. As soon as you get up to leave the exam hall, forget that exam and think about the next-or, if it is the last one, celebrate! Do not discuss an exam with other candidates. This is particularly the case if you still have other exams to sit. Even if you have finished, you should put in mind until the day of result. Forget about exam and relax. Out side every examination hall there lurks a known-all eager to explain how you should have mentioned ISA-2, for example, in your answer to question 3. Steer clear of him and do not be put off. Your object now is to do well in the next paper. Hes probably wrong, any how!


CAs Lifestyle

49

66.1

REFERRALS AND ARTICLESHIP

Obviously if you have passed the examination then you do not need to read this section and switch to the next. LIVING WITH RERERRALS

Classical Approach Life is the name of coping and living with failures, frustrations, disappointments and bad experiences. The fact is that the hang over of such events lasts longer than comparable successes, possibly because of over powering feelings of pain and sorrow that is thinking of such situations positively, these arguments appear to be mistaken. Why we do not remember as fondly the joy of our successes? Why it is so difficult, but quite natural, to live with undesirable events and results? Every normal person contains an inbuilt immunity to tolerate failures. The issue here is the failure often does not travel alone. They happen in quick succession, one after the other, shaking the very foundation of our personality. We loose self-confidence and morale. It affects our ability to take on new challenges. What can one done in such situation? 1. Confide. If we happen to hit a patch in when nothing appears to go right, we need some one to ta

CA's Lifestyle

Documents

Transcript of CA's Lifestyle