How to Study & Score exemption in CA Final Financial Reporting | ABC Analysis

FR is not solely about corporate mergers and consolidation. Recent attempts show Ind AS to be quite scoring. When it is your first paper, you should aim to complete it very effectively because it will influence how well you perform on subsequent papers as well. Don’t panic when you encounter new exam questions. There will undoubtedly be some new questions compared to your previous two or three efforts.

Ind AS and other brief chapters are adequate for passing the exam. To determine your exemption or rank, consolidation, company combination, and financial instruments are used (if you are targeting).

• Phase 1 :  Should thoroughly cover Ind AS and other minor chapters with an 85 to 90% goal score.
• Phase 2 : Targeting a business combination (along with other past adjustments) and attempting to use financial instruments should be the second step. (It is anticipated that 2 or 3 questions will be related to financial instruments, but since one of them will be straightforward, we don’t have to skip it at all.)
• Phase 3: Consolidation and additional financial instrument components. Consolidation consists of 14 to 16 modifications. Almost 75% of questions use changes that are straightforward and frequent in 80% of the cases. You should practice and invest some effort in the other adjustments. It is assumed that if you are well-prepared for 80 to 85% of the chapter, you will be able to perform effectively in challenging circumstances.

• Start by preparing for category B, then move on to category C.
• Then, choose the biggest chapter and split it out across 5 days. For example, if the chapter has 20–25 questions, only do 5 of them each day before finishing the remaining material on the syllabus.
• Spend little time on Ind. Quickly review the theory from your class notes before beginning to work on the tasks. The concepts will be shaped and understanding will be enhanced by problems. Create a mistake notebook and record all errors, no matter how minor CA Final FR.
• To better manage your time, try to understand every unique adjustment in the study materials, RTP, and MTP and write down how to solve it. For time management purposes, try to understand the conceptual point or treatment to adjustment within the first minute. Give each tweak the attention it deserves and note it down in a notepad. In a notebook, note their treatment.

Around 64 marks paper was basic concept based, 28 marks fundamental and 16 marks are typical.

Ind AS 116 lease should be carefully and patiently revised. Instead of just reviewing the ideas, problem solving in FR is crucial.

all ICAI study questions, final three RTP attempts, and the first two MTP attempts. Keep yourself actively engaged in problem-solving over the past month. because different concepts are studied in different ways, and different problems are solved in different ways.

We are offering 100 significant questions for FR, practically all of which cover all the subjects. You ought to attempt those inquiries.

You must get plenty of practice answering questions on each topic. Instead of just auditing answers from a notepad or study material, try to solve each problem independently. Thus, practice frequently. Never use a solution that you found elsewhere, including in your notebook.

Usage of the correct and recommended format for account presentation. Do not attempt to omit the creation of a revised schedule for the balance sheet with notes. As time permits, draw double-lined columns in topics like costing and accounting and mention currency in those areas.

Sufficient Working Notes to support your responses and clearly state the assumption Respond to the inquiries with appropriate focus on the accounting standards rules. Examine each topic in detail and become familiar with the intellectual underpinnings of each.

Go through the Practice Manual, Revision test papers, Recommended answers, and Mock Test papers while attempting to answer as many questions as you can. (to the extent that it is practicable and feasible).

You should assess your understanding of the material by taking some practice exams, revision tests, and mock exams in a real exam setting. Later, review the results of your work and make any required adjustments to your study strategy.

Provide Total columns in accounts and costing when appropriate. In accounting, state narrations are analogous to journal entries.

Use the double-entry principle by checking off the entries if the balance sheet is not adding up in the case of accounts. Any number taken from a totaled statement should only appear once, while the remaining numbers should appear twice on opposite sides. Check the totals last. If they continue to undercount, record the totals as they come in and make an effort to fool the assessor.

Never neglect to take practice tests prior to exams.

I don’t believe CA Final Students need to be taught the value of a single effort. Start now by giving your all; do it for your parents. You’ve come a long way, and the finish line is finally in sight.

1.How to prepare & score exemption in CA Final Financial Reporting?

Ans: Start your preparation from category B then category C. After that, pick the Holding Chapter and spread it over 5 days, say if you have 20-25 questions in the chapter, solve only 5 questions in a day and at last complete the rest of the remaining syllabus.

2.Is CA Final FR paper tough?

Ans:No, CA Final FR paper is not tough.

3.Who is best for CA Final FR?

Ans:CA Parveen Jindal & CA Parveen Sharma are best for CA Final FR.

4.Which is the easiest elective paper in CA final?
Risk Management. It is more like SEM and audit paper making it the easiest among the six elective papers.

5.What are a few tips & tricks to score in CA Final FR ?

Ans:Cover Professional Ethics properly & exhaustively as it is very scoring for about 16- 20 marks. Always make cross references while writing answers.

6.How can Lecture Kharido make you prepare for CA Final Financial Reporting?

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