Professional and advanced level of accountancy also called as Financial Reporting, is one of the easiest and scoring subject in the final course. However , it is incredibly important to get your fingers and mind moving fast , which comes with tonnes of practice . Padhuka’s FR books are really worthy to prepare for your examinations. Here are a few tips to ace this subject with ease :
- Syllabus: Go through the syllabus thoroughly and start your preparation with the chapters which are relatively less in portion.
- Do not skip theory: Since accountancy is all about numbers and problems , you might not want to concentrate much on the theory questions .However, theory questions are equally important to understand the subject completely and also to score marks.
- Practice in entirety : Practice is the key to ace accounts. Sometimes students may feel confident about a particular problem or topic. However, without adequate practice , the student will not be able to solve the problem on the examination day within the specified time limit. Take that pen,paper and calculator and get your fingers moving.While practising the problems, do not stop half way. Be patient and complete the sum in its entirety , even if you think you are nearing the answer.
- Do not memorize: Do not memorize any problem. You can observe, register and remember the question pattern so that you can attempt a similar problem at ease during the examination.
Few important and easy topics which are frequently asked and easy to score are:
- Ind AS 115
- Ind AS 8
- Ind AS 20
- Ind AS 102
- Ind AS 2
- Ind AS 16
- Ind AS 116
- Ind AS 23
- Ind AS 36
- Ind AS 38
- Ind AS 40
- Derivatives and hedge accounting
- Consolidated Financial Statements
- Corporate Social Responsibility