How To Get Exemption In Financial Reporting

  • 27 Jun 2022

Here we are providing success tips to prepare CA Final Financial Reporting so that students can get pass marks 60+ marks in CA Final Financial Reporting which helps to crack CA Final. By utilizing these review tips, you can pass the CA Last Monetary Detailing test without any problem.

Section

Weightage

Content

 

1

10%-15%

Framework for Preparation and Presentation of Financial Statements

Application of Indian Accounting Standards

Ind AS on First time reception of Indian Bookkeeping Principles

Ind AS on Show of Things in the Financial summaries

Ind AS on Estimation in view of Bookkeeping Strategies

2

10%-15%

Ind AS on Income Statement

3

15%-25%

Ind AS on Assets and Liabilities of the Financial Statements including Industry specific Ind AS

4

15%-20%

Ind AS on Items impacting the Financial Statements

Ind AS on Disclosure in the Financial Statements

Other Ind AS

5

10%-20%

Indian Accounting Standards on Group Accounting

6

10%-20%

Accounting and Reporting of Financial Instruments

7

5%-10%

Analysis of Financial Statements

Integrated Reporting

Corporate Social Responsibility Reporting

 

Revise the Accounting Standards mentioned in Category A first, then focus on certain minor topics such as the Value-Added Statement, NBFCs, and Share-based Accounting. After that, you'll have more trust in the subject. Then finish the issue in Category B and C: valuation of goodwill, amalgamation, corporate restructuring, and accounting standards.

After then pick the Holding Part and spread it more than seven days, say in the event that you have 70 inquiries in the section settle just 10 inquiries in a day and finally complete the remainder of the excess prospectus.

Accounting Standards can be developed on a daily basis (more time for difficult AS such AS 22,15,19, and so on), along with practical case studies on AS. Don't put too much emphasis on the IPCC level AS.

The exam paper for Financial Reporting is entirely practical. As a result, you must practise answering a large number of questions on each topic. Rather than auditing solutions from a notebook or study material, try to solve each problem on your own (by yourself). So, make it a habit to practise on a regular basis. Don't look up a solution in your notebook or elsewhere.

Answer the Questions with due accentuation on the arrangements of Bookkeeping Principles.

Always leave a page on the left for workings, assumptions, and notes. Workings are required for a proper answer and should be quite detailed. Present them in a line with the question. For rough work, use the booklet's last page.

As part of your exam strategy, tackle consolidation in the end, after you've completed all of the other questions, as consolidation can take 45-60 minutes. Best exhortation is to leave combination as a choice in the event that you can handle different inquiries. Most students are unable to complete this paper because they devote too much time on consolidation and then blame a lack of time or claim that the paper is too long.

You need to finish every one of the points in the subject as it is conclusive and nobody can't anticipate what will come and what will not. Yet, up somewhat, we can change our approach to contemplating and choose what to peruse on vital premise and what to peruse finally and make the levels of progress.