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Saturday, April 19, 2014

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What should I opt for exams - First or Both Groups?

In my CA/CS/CWA exams, should I go for Both Groups or Single Group?



single-group-or-both-groups-for-ca-cs-cwa-exams

This post is provided by CS Ankur Garg for student who are in trouble to choosing the group(s) before giving their exams. I believe this post will help you guys for taking you decision.

It is indeed a common question asked by many students whether to go for both groups or single group. I am sure this thread would help students to decide in this regard.

It depends on the preparation and availability of time along with capability of a student to handle both groups at a time. As per my understanding one should go for single group at a time. My suggestion is not baseless and required for long term professional success with good knowledge and further supported by the following points:
  1. By giving one group one can fully concentrate on true and expert examination preparation.
  2. By giving one group one can fully utilize his/her time and gain full knowledge of course.
  3. According to me group clearance is not the only parameter of success.
  4. By giving one group this time one can arrange some time for himself/herself which is very important. Self assessment is also important.
  5. Appearance in both groups is not a guarantee of success.
These points are based on my personal thinking and helped me a lot during my professional exam preparation and prevent me from failure along with good application of my knowledge.

I personally feel that a reasonable distinction is required to be drawn between quick success and long term professional success with good knowledge.

I hope the above suggestion would be of some help.
This article is written by CS Ankur Garg you an reach him at Facebook
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20-20 Cricket Match Approach in CA Exam Preparations

20-20 Cricket Match Vs. CA Exam Preparations


Friends, Now I want to share the one beautiful article which is written by CA Surendra Rakhecha Sir, on CA exams preparations. As we all know its 20-20 Indian Premier League Season, as well as yours May Exams are at doorstep, I hope this article will help you to for cracking your exams.

When the first team's batting is over;  a RUN RATE PER OVER  is decided to win the game by the other team.Right?
The same approach is very useful in preparations of CA exams although at first glance it may be taken as irrelevant for the exam preparations.

But read on how it is relevant in CA Exam Preparations:

The Fundamentals of 20-20 Cricket Match:
  1. The first 5 overs are delivered by the best bowlers.
  2. To overcome the above situation; a “reasonable” score say 4-5 per over is targeted in first 5 overs. However; whenever a “deserving” ball comes as a “gift” during such overs; it is fully “utilized” to increase the run rate.
  3. When a “typical” bowler comes to bowl; he is “taken” seriously and the batsmen prefers to avoid his bowls for the time being and play very carefully to save their wickets. But still they keep in mind to hit the “deserving” balls.
  4. When a “reasonable” score is made in the first 10 overs with “sufficient wickets” in hands; HIT THE HARD policy is applied. In the last 5 overs; even the “best bowlers” get tensed to  bowl knowing well that he would be hit hard as the batsmen mind to lose the wicket.

Now try to understand the MESSAGE behind the above.
  1. Whenever students start studies; the reading and grasping speed remains very slow. This situation is universal for all the students.
  2. Within a week; the students “confuse” themselves that this way the syllabus would not be completed in the given time.
  3. The major fault in the preparation of TIME TABLE is: The “reading and grasping” speed is taken as the “same” during  the available days.  
  4. Due to the above; as soon as studies are commenced; students fear that this way how the whole syllabus would be covered?
  5. They should keep in mind the strategy of 20-20 Match. Initially the speed would be slow. But gradually it will increase if “reasonable care” of  “average performance” is ensured.

To make it more clear:
  • In the exam papers; first question is always tough. Many times it is compulsory to attempt. It carries higher marks too.
  • Fortunately; you are not supposed to attempt it first alike in 20-20 match. But keep in mind; you have to attempt it to achieve the required score.
  • Initially make a rough time table and try to apply it (like net practice). Don’t mind even the result is lower than the average required.
  • Evaluating the time table; prepare a revised time table and try to implement upto 70-80%. It may require further modification/alterations when the circumstances so warrant. Don't bother too much if any change is required in it. It is also a part of the exam preparation strategy.
  • At the day end; do some writing practice to know your “study score” (the retention level).  Otherwise it may prove as a “MAIDEN OVER” keeping you “BLANK.” (AajPadhaKalSaaf).
SIXER ON THE LAST BALL:
Many times you have appeared in various exams.
Had you realized ever that the reading and grasping speed were the same in the last days of the exams as it were in initial days of the preparations?


This Article is written by CA Surendra Kumar Rakhecha, he is a Practicing Chartered Accountant in Surat (Gujarat). He is eminent writer in the field of motivational writing in CA profession.  you can follow him at facebook.


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Monday, April 07, 2014

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How to prepare for IPCC Group 2 | Tips

Most of our readers are asking "How to prepare for IPCC Group 2" , I wonder that "is there any difference between group one and group two, use the same strategy which you followed for clearing 1st group is enough. Still am sharing my personal view on "How to clear 2nd group"

We have four subject in the group!!!
Tips-and-How-to-prepare-for-IPCC-Group-2

First one Advanced Accounts! I dont think you Guyz don't want any tips on accounts. Just do all the sums in ICAI material, that is enough to get 60+ ,

2nd subject is Auditing, now favorite 1, I did the self study of this subject and that was superb,
So I will tell you how to prepare for Auditing, The basic thing is go through the All Standards on Auditing and don't skip any particular topic(s), you must have to go through PRACTICE MANUAL, which will give you an idea about "How to write audit paper in well and scoring manner",
So, I recommend Mrs. Surbhi Bansal's OR Mr. Pankaj Garg's text book, which is simple and easy to understand , Dear friends, don't' forget Auditing is not 100% theory paper.You may refer my last minute summary notes for auditing.

And the last and the least paper in the group is IT& SM, most of the 1st attempt students fails to score 40 in the paper, So, they starts to blame this paper as boring and low scoring, but it is not the truth. Now, I am going to tell you how to planned for it, 1st of all follow ICAI MATERIAL, then cover entire UNITS. Had you seen my last minute series on Strategic Management for IPCC?

I know it is too difficult read 300+ page book and remember each and every topics, so only for SM, I recommend to study from Practice Manuals, because In PM, you will find the matters in question and answers format, but you should have to try atleast !!!

Read at early morning and make your notes for each chapter, the self note will help you during revision time, and u can revise entire topics with lesser time !!! 

All the best :)
Keep Sharing the post :)
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Extension in due dates of GMCS 1 Online Registration

ICAI extend the last date of GMCS 1 Online Registration for students registered after 1 May, 2012 

Extension in due dates of GMCS 1 Online Registration

It has been decided to grant extension to students, who were registered for practical training / Articleship on or after 1st May, 2012 and completed one year of their practical training but not completed the GMCS - 1 course are required to complete GMCS 1 Course latest by 30th September, 2014.

The above students are advised to register at the portal www.icaionlineregistration.org or contact the nearest Regional Council / Branch for registration in GMCS-I Course and complete the same at the earliest but not later than 30th September, 2014.

Click for Notification

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Saturday, April 05, 2014

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What is the proper Body Language in Group Discussion

Body Language is also play a important role to identify the personality of anyone. According to Psychologists Body Language reveal more than the words which we speak. During the round of group discussion in interview, employer measure your performance with your body language. Now point arise "How we leave positive impact on our employer" So, here I have mentioned some tips for body language communication in Group Discussion.

Importance-of-Body-Language

What is Body Language?
  • Body language is the form of nonverbal communication, by which you reveal clues about your unspoken intentions or feelings through your physical behaviour.
  • Your behaviours generally include body posture, gestures, facial expressions, and eye movements. The body language plays an important role during the Group Discussion (GD)
  • Body language of the participants in a Group Discussion is observed by the moderators very keenly.

What is the Importance of Body Language?
  • Positive body gestures are a sign of confidence and security. They are a sign of active participation and leave a good impression.
  • A positive body language increases an impact on others.
  • Body language helps to build a rapport with others.
  • Body language helps to understand what others may try to convey.
  • Body language helps to control aggression and conflicts.
  • Body language can show you are energetic in a group discussion.
  • Make sure that if you are saying “East” then your body shall not reflect as saying “West”.
Importance-of-Body-Language-during-group-discussion

Problem: What is the Proper Body Language during Group Discussion???
Solution: 
  1. Don’t move your chair again & again. It looks very irritating.
  2. Don’t fold your hands as it will depict that you are a person with a closed personality .
  3. Don’t knock the table with pen/pencil or fingers.
  4. Don’t get distracted easily. For example: If the door of the room opens then do not look back to see who is there. This will show how distracted you are.
  5. Don’t bite nails during GD.
  6. Give thanks to the ones who make points which you like & the ones who support your points.
  7. Sit straight & Don’t lean back on to the chair.
  8. Avoid fidgeting (moving restlessly)
  9. Many students tend to shake their legs while sitting on the chair during the GD. This is out of nervousness. You can control this by pressing your left toe with your right foot.
  10. You have to avoid certain gestures like winking which can be misinterpreted.
  11. Use your hands while explaining your point, this would be more convincing to people.
So friends Mind your body language during the GD process and the moderators will keep you in mind while selecting the best among the equals.

Apart from Body Language, there are certain other things that you should keep in mind in order to crack the Group Discussion which you check here
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Things should be AVOID in Group Discussion

In today scenario, Group Discussion is a one of the most important element when you go for any job even in CA Articleship. Due to lack of awareness most of the students didn't perform well and miss the opportunity of selection. Group Discussion essentially an interactive oral process. The group members need to listen to each other and use voice and gesture effectively,use clear language and persuasive style. In this post, I'm give you some points with visual aids which you should have to avoid in Group Discussion to clear the Round.


Things-should-be-AVOID-in-Group-Discussion


NOT SPEAKING AT ALL
    not-speaking-at-all-during-group-Discussion
  • This is the gravest crime you can commit in a GD. No matter how alien the topic is, or how noisy & turbulent the group, you need to speak and you need to be heard.
  • Learn more about the topic as it gets discussed; seize the smallest opening in the discussion to make your entry; use the opportunity to make your point(s).
  • Listen carefully to everyone & whenever they take break while speaking then start speaking your point by saying “sorry to interrupt in between but I would like to add…”
  • If you will not speak anything, you will get no points.

LOOKING AT THE MODERATOR WHILE SPEAKING 
    LOOKING-AT-THE-MODERATOR-WHILE-SPEAKING-during-group-Discussion
  • You are there in the GD to discuss with the group members & not the moderator. You are a part of the group and you need to look at your group members while addressing them. 
  • Gazing at the floor, ceiling or the moderator are all invalid options.
  • Moderator is just like a ‘fly-on-the-wall’ and is observing the group.
  • Frequent glances in the direction of the moderator reflect a sense of insecurity. It sends the message as if you seek support from him.

GETTING EMOTIONAL
  • The GD gets quite stressful at times as it is an artificially construed situation.
  • Be ready to accept comments made by others in the group that may be outrageous & totally unacceptable.
    not-speaking-at-all-during-group-Discussion
  • If other members manage to provoke you & get you excited and emotional, they would have scored a couple of decisive points against you.
  • The best & the mature way to handle the situation is to control your emotions and respond on the basis of facts and sound logical constructs. Do not lose your temper and be polite and graceful.
  • For example: While discussing about the topic “Love marriage vs. Arrange Marriage”, you being in support of love marriage might not accept others views saying real filth about it, like love = sex = dhokha.

COMPROMISING CONTENT FOR FORM
Compromising-content-for-form-during-group-Discussion
  • During the GDs, what you say is the first & foremost important component of your performance.
  • Then comes the next component, i.e. how you say what you say, but it comes into play, once your speech is strong in its content.
  • Students strongly focus on their way of speaking and the accent, etc. But the key to win a GD is the relevant & sufficient content that you are speaking.
MAKING SWEEPING STATEMENT
  • Sweeping statements are the statements which are indiscriminate or without any reservations.
  • In other words Sweeping statements are strong, one-sided views of the world that lack any factual support.
    Making-sweeping-statements-all-during-group-Discussion
  • Most students make these kinds of statements reason being, they sound good to them & seem informative. But keep in mind that an assertion is of no good unless you can back it up with facts and/or logical reasoning.
  • Please don’t give vague statements, it’s next to bullshit. Whatever you speak, be firm at it, no means of ambiguity.
  • For example: While discussing about the topic “Education system” you just say “Indian education system is not good”. Now this is a vague line. You should have relevant facts in order to make others believe your opinion.

DEVIATING FROM THE TOPIC
    Deviating-from-the-topic-during-group-Discussion
  • Though it’s good to broaden the scale & scope of the discussion, but at the same time you need to ensure that you are not moving too far from the topic.
  • Instead of coming to a relevant conclusion you will end up discussing the issue on the parallel grounds. Now here you can play your role in order to win the game & as a good team player you must bring the conversation back on the track.
  • For example: instead of discussing on the Topic of “Indian Economy” you guys ended up discussing all about the elections & its impact on the “Indian Economy”.

SPEAKING FAST
  • Speaking English fluently never meant that you have to speak it at the breakneck speed.
    Speaking-fast-during-group-Discussion
  • Generally students have this mindset that during a GD speaking very fast would enable them to say more in the limited time that they are likely to get. To them the answer is “Wrong assumption.”
  • People who speak very fast lose track of what they are saying, and ultimately lose their audience.
  • Try speaking slowly and deliberately & making your every word count.

UNDER ESTIMATE THE IMPORTANCE  OF BODY LANGUAGE 
  • “The most important thing in communication is to hear what isn’t being said.” Peter F. Drucker.
  • The way you sit, use your personal space; establish eye-contact and ‘appear’ to people says a lot more about you than you would believe.
    importance-of-body-languageduring-group-Discussion
  • If you’re saying East then your body shall not reflect West.
  • Use positive body language: Your body language should not demonstrate dominance or low self confidence. Show your interest in the discussion through your gestures like bending forward a bit, nodding your head, using hands while explaining.




GIVING YOUR OPINION WHEN ASKED TO SUMMARIZE
  • This is the Blunder that most students commit unknowingly. Students believe that they should harness this opportunity of concluding the discussion by stating all their view points.
  • While the HR is asking to give a summary about the discussion, students start raising their points of view about the subject.
  • Avoid this & take the group through the discussion journey, covering all the significant points made during the discussion.

BEING OVER POLITE AND OVER SMILING
    Being-over-polite-and-Over-Smiling-during-group-Discussion
  • To say in the simplest manner about the key to win GD is “Be Yourself”, that’s it.
  • Over-polite behavior might be looked upon with suspicion. An artificial fixed smile with lots of nodding and shaking of the head will surely not win hearts instead it might end up irritating others.
  • Another mistake that students do is trying to act funny. The advice here is : Make sure people are laughing with you & not at you.
  • If you are naturally a witty person, go ahead and demonstrate that skill but if not, then you better be “Yourself”.
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Thursday, April 03, 2014

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Why should all CS Students and Members are protesting against MCA???

Today I checked the social media, I seen some images in which some students and the members of Company Secretary are protesting against the Ministry of Company Affairs (MCA). Like me, you are also eager to know what is the actual matter... Why should all CS Students and Members are protesting against MCA???   I HAVE AN ANSWER of MCA Vs ICSI issue ...I also quote some posts of social media in below.
PROTEST-AGAINSIT-MCA-BY-ICSI-STUDENTS

The above photograph taken by news channel at ICSI, Lodhi Road, New Delhi

As representation given by Institute to Ministry there are only 7587 public and 6950 private Companies (total 14537) which are having paid up capital more than Rs. 10 crore. While number of the members of the Institute is around 36000. It may be that 6000-7000 members are in practice and 3000 have dual degrees. So total number of the members in job is around 26000. If ministry would not reduce the limit also in that case around 11000 members of our institute are going to be unemployed.

(Copied) Last night I was there when our president came. I heard his speech and analyze that he is not worried about anything. So all of you are requested please get together on 11 AM in head office at Lodi Road and raise your voice.

Effects of New rule which is issued by MCA, where the students & members of ICSI claims its adverse to their profession.

No more CS openings
The new rules exempt public companies below a paid up share capital of Rs 10 crore, and all private companies from the requirement of appointing a CS.
“As a consequence, about 7,000 companies would be required to have a Company Secretary. This gives a message that compliance with law, secretarial standards and governance norms, etc., which are responsibilities of a company secretary under the Companies Act 2013, are not important for all, but 7000 companies,” stated the ICSI’s representation to the MCA.

Section 138 – Secretarial Audit
The new section makes secretarial audit applicable on only those private companies whose preceding financial year’s turnover is at least Rs 200 crore, or whose outstanding loans exceed Rs 200 crore at any point during preceding financial year.
ICSI points out that under 1 per cent of the 13 lakh public and private companies in India would get covered for secretarial audit under the new section, while 1700 of the biggest Indian private companies are exempt under this section.
“The exclusion of private companies, irrespective of their size, from secretarial audit gives a message that the matters covered under such audit such as compliance with applicable laws is not important,” stated the representation.

Pre-certification
Under the new rules, e-forms will be directly scrutinised by MCA officials instead of pre-certification by a CS or a Chartered Accountant (CA) or a Cost and Work Accountant (CWA).

SO, the demands of the protesters are:
1. Include the Private Companies in rules for KMP.
2. Reduce the limit for KMP upto Rs. 5 Crore.
3. Secretarial Audit must be applicable on private Companies.
4. Pre- certification.
5. Secretarial Audit must be applicable on private as well as reduce the criteria.


Here it is a post, which is posted by Sh. Deep Jain Ji.
Friends, Two news are doing round in social media..

1. Past President of ICSI was manhandled in ICSI HQ today by the members for the current harmful provisions in the New Companies Act..If this news is true,it is really very unfortunate and any type of violence is condemned with full force....

2. Proposed DTC contains audit to be carried out by CA,CS and Cost Accountant....The government is adopting divide and rule policy by giving some edge to each institute over the other..It is high time to show solidarity and unity by the top body of all three institutes and all the members of these institutes to safeguard the respective professions..
The way things are moving is very dangerous to all the professionals....
This is another post, which is posted at Google Group.

Ek Teer Se Do Nishane

Ek Teer: Secretarial Limit reduced to Rs. 50 crores as against in Draft Rules which was Rs. 100 Crores

Do Nishane: (i) KMP appointment limit increased to Rs. 10 crores as against 5 Crores in Draft Rules, (ii) Private Companies Exempted from appointment of KMP as against draft rules where it was applicable on every other company.

Just before the day comes to an end and before start of April 1, 2014, Last rules under Chapter XIII had been notified by the MCA with respect to Appointment of KMP and Secretarial Audit, which was eagerly waited by Every Company Secretary in Practice or in Job. Following is the criteria for KMP and Secretarial Audit.

Appointment of KMP (Section 203(1))
  1. Share Capital Limit for KMP: Rs. 10 crore or more in Public Limited Companies. The limit has been increased from 5 crores as given in Draft Rules. Bad news for CS in employment.. Where there is no requirement to have KMP for Private Limited Companies as per rules notified where draft rules had prescribed for every company. 
  2. Mandatory for Listed Companies
Secretarial Audit (Section 204(1))
  1. Applicable on Public Limited Companies Only: Share Capital Limit has been reduced from Rs. 100 Crores (Rs. 100 cr was stated in Draft Rules) to Rs. 50 Crores where as Turnover Criteria has also been given i.e. if turnover is more than 50 cr, the Secretarial Audit will be applicable.
  2. Hence, Capital > Rs. 50 Crores or Turnover > Rs. 250 Crores, Secretarial Audit will be applicable. Good News for CS in Practice (it is the other fact that pre-certification has been removed from a no. of E Forms.) that the limit has been reduced so far although many of us wanted it to be applicable on every company having paid up capital more than Rs. 10 Lakh
  3. Mandatory for Listed Companies

Download: Notification by Ministry


PROTEST-AGAINSIT-MCA-BY-ICSI-MEMBERS

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