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ICAIseptember2010-students Newsletter36P

ICAIseptember2010-students Newsletter36P

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Published by: ramachandran_ca8060 on Sep 04, 2010
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         
 
September 2010 I The Chartered Accountant Student
Dear Students,
I on behalf of our Institute felicitateand convey my heartiest greetings tothe teaching fraternity on theauspicious occasion of Teachers’ Daywhich is observed every year on 5
September tocommemorate the birthday of the former President of India late Dr
Sarvepalli Radhakhrishnan
, a philosopherand a teacher par excellence. No other personality canhave an influence more insightful than that of a teacher.Teachers mould their students to bring out their latentskills and impart quality education to prepare goodcitizens for the nation. I do hope that under the ableguidance and parental shadow of your respectivePrincipal who is imparting practical training as a
,you will be successful in carving a niche in the realmof accounting profession.Being a teacher myself for more than two decades, I amvery much concerned about your overall developmentand professional growth. I can easily understand andrealize your practical problems. We at the Institute arestriving hard to solve all such problems. Hence, recentlythe Council of the Institute has decided to modifyeligibility criteria applicable to different stream of students for appearing in the Final Examination to beheld in November, 2010 examination and onwards.Uniformly all the students of PE-II Course irrespectiveof their switching over from PCC or to PCC and then to
IPCC or to IPCC can take up their Final Examinationduring the last 12 months of their articled training. PCCstudents are also allowed to take up their FinalExamination during the last 6 months of their articledtraining. Moreover, in order to mitigate the hardshipfaced by PE-II students and bring uniformity among allthe streams at the Intermediate level, the Councildecided to allow PE-II students to commence theirarticled training on passing either of the groups in PE-IIExamination.Our Council has also decided to provide exemption/ relaxation to the students who have switched over fromIntermediate/PE-II to IPCC from undergoing 35 hoursOrientation Programme and such students are allowedto complete ITT before commencing articled trainingor at the time of Final examination. Further, the Councilhas allowed PCC students to submit proof of InformationTechnology Training (ITT) completion certificate beforethe declaration of the result of the relevant examination.I advise you to log on to our Institute’s website for thedetailed information in this regard and hope that your
 Persistent hard work 
 Positive attitude
will lead you to the pinnacle of success.With Best WishesYours sincerely,
CA. Amarjit Chopra
President, ICAI, New Delhi
Dear Students,
At the outset, I extend my best wishesto all the
on the idyllic occasionof Teachers’ Day. The role of a teacherin any society is both noteworthy andvaluable. Having a teacher to guide us is precious. Theteachers are the role models for the students as they tryto follow them in their manners, costumes, etiquette andstyle of conversation. Teachers are considered architectsfor building the future of their students.In the Accounting Profession, the role of our principalis very pivotal. The practical training serves as thelaunching platform to unfold the horizons of asuccessful professional career. Being a well groomedand disciplined student of Chartered AccountancyCourse, it is the utmost responsibility of our studentsto follow the code of conduct while learning the nitty-gritty of the professional skills under the masterly andable guidance of their respective
represents the radiance of information and knowledge that dispels our professionalignorance. In order to be a truly global professional of high order and rank, you need to uphold high ethicalstandard and discharge your professional duties withdiligence. As a CA professional you should always keepyourself adhere with the core principles of our enduringprofession viz. Integrity, Objectivity, Independence,Confidentiality, Technical Standard, ProfessionalCompetence and Ethical Behavior. I hope that byfollowing these principles candidly and earnestly, youcan reach to the acme of success in your professionalendeavors.The Chartered Accountants play a very vital role in thesociety promoting reliable and transparent informationboth in the public and private domain. Being aresponsible Accounting Professional, we can contributefor the betterment of the world around us by fostering avalue based ethical professional environment. You haveto be very agile, active and aware about latesthappenings and keep your knowledge update. At thetime of campus recruitment, organizations look forwardfor the candidates who are not only intelligent but alsosmart as well. Hone your communication skills anddevelop positive attitude to emerge as a successfulprofessional.
Wishing you all the best for a wonderful time ahead 
Yours sincerely,
G. Ramaswamy
Vice-President, ICAI, New Delhi
September 2010 I The Chartered Accountant Student
Message From TheChairman,Board of Studies
The examination system of theInstitute is one of the best systemsin India and it has maintained very high standards of 
integrity, confidentiality and creditability
over theyears. It seeks to test the multifaceted knowledge whicha chartered accountant is expected to possess. To achievesuccess
you have to approach the examination with apositive attitude
.I am sure you would have alreadystarted your preparations for the November examinationwith some plans. Here, I have penned down the strategyto clear the examinations based on my experience of somany years which may be of help to you:
Read Study Material thoroughly
:The studymaterials would help you to develop a strongconceptual base. They give you the parameterswithin which you have to study. Make it a habit of going through them thoroughly as these will enableyou to understand the basic concepts of the subjectsand develop your ability in understanding thedifferent concepts and their applications. Apart fromthe study material,
do refer to at least one standardtext book 
and solve all the illustrations and problemstherein. This will further build your conceptualclarity of a particular subject and strengthen yourproblem solving skills.
Practice and Practice
:Practice makes a man perfect.Therefore, I suggest that you practicse as much aspossible. Here I would like to mention that manystudents start practising from various books without
first understanding the subject and the conceptsinvolved
.This approach is absolutely wrong. Youneed to first make your base, understand theconcepts and then start practising.
The following
brought out by theInstitute will be of a great help:
The Practice Manual for each subject
Suggested Answers, Compilations
Revisionary Test Papers for last few attemptsThe more you practice, the better engraved will beconcepts in your mind.
Don’t indulge in Selective Studies
:No portion of the syllabus is less important and leaving any portioncould be fatal
Stay Focussed
Make goals: long term, medium term and shortterm and stick to them
Make a time table depending upon your aptitudeand the time available
Keep regular hours of study
Do not spent time on making notes
Cut out disturbing factors like television,internet, mobile phones etc.
Take short breaks after each hour of study
Revise and Review
:It is important to study thereading material at least 3 to 4 times.This wouldinclude:
First reading
:This will be more like
to gain overview
Second Reading
:This will be in depth studywhere concepts emerge
Third Reading
:This will be very intensivereading to fully understand the concept and tounderline important points to be revised on examday i.e.
Fourth reading
Take Practical Training seriously
:Many astudents take practical training to be aburdensome job. Practical knowledge is a mustfor success in exam
 Visit Institute’s Website:
Make it a habit of visiting The ICAI’s website. It contains all theeducational inputs of the Board of Studies likelatest study materials, suggested answers, RTPs,supplementary study materials, notifications etc.It also contains announcements like relevant listof publications, Accounting Standards andStandards on Auditing etc. applicable for theexamination.
Refer the Chartered Accountant Students’ Journaland other publications
:The Students’ Journal isanother form of disseminating importantinformation for your benefit. It provides qualityarticles and academic updates that will help you inyour professional learning. You can also send in yourarticles for publishing in the journal.
:It is not only necessary that youprepare well, it is equally essential that you presentyour answers well. For this following points areimportant:
Relax before the exam. Your mind thinks wellwhen it is in a relaxed state.
Attempt those questions first which you areconfident about.
Budget your time wisely. At least 15 minutesshould be spent on reading the question paperthoroughly and 15 minutes should be kept inreserve for revision.
Give working notes to each practical questionproperly.
Give your assumptions wherever you feelnecessary.
Give to the point answers and do not indulge inunnecessary details.
While answering questions involving applicationof law/standards etc, briefly state the facts, thelegal position, your analysis backed up with caselaws, if any and your conclusion.
Write legibly; avoid spelling mistakes andgrammatical errors.I am sure that the above points will help you in clearingthe forthcoming examination with flying colours. Justkeep a positive attitude and keep your cool and conquerthe world!Wishing you all the best in all your pursuits of life!Yours sincerely,
CA. Vinod Jain
Email : chairmanbos@icai.org

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