How to prepare for Module II & III of CS professional exams? Interview with seniors

As mentioned earlier, there were 2 Whats app groups; following is the excerpts of discussion happened in the other group.

Mr. Balaji, all India third rank holder, Mr. Ashwin Company Secretary in IFMR & Ms. Nirosha who passed CS recently answered the queries of the students.

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Please guide on preparation for 3rd module. Tax & Strategic Management.

Balaji : 

For module 3: Strategic Management -  you have to go through study material fully. May be you can concentrate on part 2 and 3 more to fetch more marks.

For Tax you can refer Bangar's book and scanner. Also concentrate on IDT and international taxation where you can score more marks and is easy to understand.

Nirosha : 

Study material is very important especially for Strategic Management Part.  C & B is where you have to concentrate more.

And as far as part -A is concerned... Concentrate on 5 to 6 chapters based on the weightage.

I am straggling in module 2. Kindly guide me how to write FM theory and CRI.

Balaji : 

CRI is a subject where you can't skip any topic. However, what i felt is people fail to cover part B fully which is not related to company law.

If you can cover Part B and Sec 390 to 396 fully with judicial pronouncements, CRI should be a cake walk

Ashwin: 

There is a strategic approach to tax paper..pls focus on international tax 20 marks and indirect tax 50 marks. Read study material fully once w.r.t to indirect tax so that you can approach one word answers

In strategic management I  was able to get just 50 marks is der any other tips to get 60 plus in SM ? Whether any particular presentation s needed?

Nirosha : 

If you want to score more than 60.. you can cover entire part C and B fully and from Part c use the exact key words in your answers.

Balaji

Answer specific to the question. Unnecessary words should be avoided. Also avoid dragging the answer. For example for a 6 mark question, you should be able to answer in 8 points and it should not exceed a page

Could you please share your idea of writing exams as practise tests.

Balaji : 

Practise tests makes you improve on your presentation skills and time management. If you have covered the portion and take up two practise tests which will be really helpful

Regarding FM which chapters can be given weightage for problems??

Balaji : 

Give due weightage to capital budgeting, working capital management, forex and derivatives. If you have clear understanding in these topic along with theory you can easily score 50 to 60

Does theory fetch us marks in FM?

Nirosha : 

FM theory carries 40 marks and if you are really sensible with your answers you can score 30!!

Balaji : 

In FM if you answer theory questions specifically and appropriately you will easily score 75% of the marks alloted for theory

Ashwin: 

Theory is 60 actually; so it does fetch marks.

And Due diligence what is the strategy?? I am losing in close aggregate in module 4 !

Balaji : 

Due diligence is more of a paper wherein they test your practical knowledge about company law and other laws. Try to prepare company law and due diligence together to understand the subtle difference these two papers have.  and preparing from study material is the best way to clear due diligence

Changes ...due to 2013 Act.. How should we update ourself?

Balaji :

Read the updated material and supplementary material available in institute website. That should help you keep abreast with the latest changes

Many say that FM book problems is more than enough how far it is true

Nirosha : Apart from Book problems please work out from your scanner problems also

Could you like to suggest any book for FM other than institute material.

Balaji : 

For practising more problems you can refer CA institute practice manual for FM  ( CA inter practice manual.Solve CA IPCC material). This is required only if you  want to practice more problems.

Otherwise I don think, we have a better book other than institute material to prepare for FM

In what way that papers can be presented in a better manner from examiner point of view ?

Balaji : 

My personal experience from the words of an evaluator. People who evaluate don't spend more than 5 mins in a paper. they look for specific answers with the technical jargons and keywords at final level. It is more of marketing your paper. Answer in points and write section numbers where ever possible and try to finish in the main sheet itself.

What ever we prepare, what matters most is how we present our paper in those 3 hrs. A good presentation with legible handwriting is a must. 

Nirosha : 

You can use black and blue while writing......black one for your headings and the other for the body/ content.  I think writing only required points and highlighting sections and case laws wherever possible will fetch more marks

Don't use anything apart from black and blue...it wont look professional

Using two colour pen is acceptable . There was an information from students and others that using two pens are not allowed

Ashwin: I used blue and black throughout my attempts

Nirosha: Yes even i did the same...I used blue and black

And about sections... Quote them only if you are really sure. It doesn't matter even if you don't quote section...but please don't quote wrong ones. It is very important.

Can any one highlight on the new syllabus

Nirosha : 

I don't have much idea about the new syllabus.. But I guess the basic approaches to face the final exams will be equally applicable to new syllabus also.

Balaji : 

Concentrate more on valuation and restructuring in new syllabus where you have more weight-age

Weight age of marks allocate in comparison to old syllabus vary to new syllabus . With regard to new syllabus the marks are awarded separately for sec audit and insolvency and valuation are give 20 and 30 marks separate in CRI paper and we write restructuring for 50 marks how should this be approached in new syllabus also we have paper like information technology and system audit what is the preparation method for those paper .

Balaji : 

Thanks for sharing the information on New sylllabus for the benefit of others.

Even though info tech is boring, preparing from study material is the best option. And I have gone through the material of info tech. You have to study it fully in order to pass. No other way out

Nirosha : 

Yes. Given that info tech is slightly tough paper in new syllabus you have to devote extra time and effort for the same.

What about tax...part A and Wealth Tax?

Ashwin: 

Tax part A, you can trust Bangar book. Exhaustive but worth

Balaji : 

Wealth tax may be included since the same is shelved only in this budget. Those who are referring Bangar book will come across wealth tax topic.

Check the tax updates released by CS institute. Tax updates will carry 10 to 15 marks in you question paper. so be wise in going through the same.

Nirosha : 

Tax -  give importance to case studies too. I think Wealth Tax is included for this June exam.Be aware about the updates as Balaji said

How to score in Due Diligence?

Balaji : 

You should approach company law in a practical perspective for due diligence paper. It is more about procedures on checking compliance on company law and other laws. approach the subject with that in mind and prepare from study material. you should easily score 60 +

Have to go through the Bare Act ....In case, you face problem in understanding bare Act read it in relation with company law material.When it company law our institute material is the best in the market. I use our institute company law material to prepare for CA finals

Try to write down notes and prepare. You can practise the same for scanner theroy questions. That make improve your presentation in order to fetch more marks

Nirosha : 

Company law give you the core Act where as due diligence is all about procedures of what is there in company law

I would say our institute material is more than sufficient for law papers

What are the most important chapters to be covered  in FM in theory part?

Ashwin: Please use scanner for theory..because questions may be repetitive

Balaji : 

There are no specific areas which are important from exam point of view. This is because institute has the habit of pulling questions from all the areas. Guessing a specific area and covering it will put you under risk. My suggestion is cover all the areas as much as possible along with scanner questions. That should suffice to confidently face your exams.

Due weightage can be given to chapters 3,4,8 and 9 which is more of  theoretical chapters

And preparing from scanner for FM theory will help you understand in what way questions are asked.

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Balaji :

I would be happy and satisfied with good results from all of you. Hope a lot more people will clear from this group and share their experiences to the next batch !
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The young CS members who helped the students can be reached in the following mail ID:

csbalajin@gmail.com

Ashwin_522@yahoo.com

niroshaakathiravan@gmail.com

(Chat with seniors is concluded)