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Offline Mr. Patel

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Tips for Law and Audit paers
« on: September 27, 2011, 10:48:21 AM »
ICWAI Inter
 Paper 6; Law and Audit


Audit

Friends, we all know it is difficult to score marks in Law and Audit especially the chapter Industrial Law. But, Let me tell you if you managed well in advance then you can score the marks in the Law papers. Here I am suggesting some tips for the law papers.

1.   First of all finished the Audit portion completely. Around 80 pages are dedicated to Audit and 250 pages for the Law. Then it will be foolishness to avoid the Audit
2.   Prefer the last chapters of the Audit because most of the questions are asked from the last chapter of the Audit.

3.   The verification of the Assets and liabilities and CARGO chapter.
I know it is difficult to completing mugging up the chapter of Verification of assets and liabilities and cargo. So just try to understand the chapter and prepare the list of points that are common to all. Prepare the list of point that are common in all the assets and liabilities and then write down the all points in exam directly.

4.   If you planning to seep the whole chapter then analysis  the Last year papers properly.

Quote
There are 4 questions in the Audit paper
Of which you have to attempt 3 questions.
If you see clearly then you will find that
Last question is from the last 3 chapter,
Thrid question is from the verification and cargo and
Second questions include the  other chapter
Finally,First question is Objectives question
So, seep the chapter as it best suit you

5.    For the Objectives question prefer scanner and institute material.

6.   Don’t forget to read RTP of last two terms.

Law

1.   For the Objectives question prefer scanner and institute material.
2.   Don’t forget to read RTP of last two terms.
3.   First of all complete the Chapter on Contract and Sales of goods act to score 25 marks in this chapter
4.   Now for the industrial chapter, I would suggest you the PowerPoint presentation.

Quote
Friends, it is not possible to read whole 150 page chapter of industrial act for the 20 marks. So I advise you to prefer ppt presentation.The logic behind this; in industrial law 2 to 4 marks questions are asked, which you can prefer directly from the ppt rather than read the whole chapter.

5. At last the chapter other law.

Quote
In that part, try to finished first of all the Negotiation, Competition and RTI chapter and prefer the partnership chapter directly from the ppt because remember we are always prefer to learn our ACT and most to content in the partnership act is regarding other laws .So finally it is an Important chapter but one which is related to our Indian law

6.   Even in Audit if you look clearly then there are 4 questions.
Quote
First one for the Objectives
Second from the Contract and goods Act and
Other from the Remaining chapter
But I had found that in most of the papers questions two was related to case study and question three was related to short note. So you can plan accordingly. I used the word most because it was my exam only when in both question case study are asked.



7.    Try to write the Answer in a format; here I am giving an sample for the answer
A dismissed Employee is not entitled to bonus under Bonus Act – Comment

Quote
Step.1 Write down the question again in the form of answer like
“Yes, A dismissed Employee is not entitled to bonus under Bonus Act”
Step2. Then write down from which act is applicable to this. Remember there is no negative marking for not writing the section number but of course negative marking for the wrong section number
According to relevant section of the Bonus act,A dismissed Employee is  entitled to get   the bonus under Bonus Act.
Step 3 then write down your Answer and finally finished it off by conclusion like this
Hence, a dismissed or retrenched employee is also entitled to get bonus subject to certain conditions.

Note; If you don’t know the section number then don’t write it down but rather than you can use the statement like “Under the relevant section of…………”. (This is the shortcut used by one of my friend)



ICWAI Law and Audit Material
Objectives question at;
http://www.techshristi.com/745/auditing-objectives/
Contract act notes Section wise
http://www.techshristi.com/329/notes-on-law/
 ppt presentation on all topic of law at
http://www.techshristi.com/category/141/law-ppt-presentation/
« Last Edit: May 07, 2012, 09:37:01 PM by TechShristi »

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Tips for Law and Audit paers
« on: September 27, 2011, 10:48:21 AM »

 
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