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Examination DepartmentThe Institute of Chartered Accountants of India3rd July, 2020 IMPORTANT ANNOUNCEMENT 1. The students are aware that vide Announcement dated 15th June 2020, the Institute, after taking in account the academic interests and health safeguards of students intending to appear in May 2020 Examinations, had enabled them to change their centre for appearance in May/ July 2020 Examination and/or to decide, at their free will, to “Opt Out” of the May/ July 2020 Examinations with carryover of all benefits including fee paid and exemptions. The Announcement also stated that Institute will review the situation of pandemic (COVID cases, MHA guidelines, Centre and State Government directions) in first week of July 2020 and the conduct of examinations commencing from 29th July 2020 was to be strictly dependent upon prevailing Government’s advisories for the area in which a particular Centre is situated and, in any eventuality, the students were to be accommodated to November 2020 Examination cycle.2. Further Announcement dated 17th June 2020 provided for FAQ’s relating to conduct of May/ July 2020 Examinations, change in centre and operation and procedure for Opt Out to address the queries raised by the students. Announcements dated 20th June 2020 and 26th June 2020...

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IMPORTANT ANNOUNCMENT  In view of the ongoing COVID-19 pandemic and in the interest of the well - being of students and to mitigate their hardships, as proactive measure for benefit and welfare of the students, an Important Announcement dated 15th June 2020 (Click Here) was issued inter alia extended an option to the examinees who have made applications for appearance in May 2020 examinations to Change the Centre of Examination or to “Opt-Out” of May 2020 Examinations and in lieu of it appear in November 2020 Examination with due carry over of the fees paid, exemptions etc.The Institute is receiving various queries / observations from the students / members and other stake holders related to aforementioned announcement. In this regard for the benefit of students it is decided to prepare a set of FAQs with their answers. The FAQ’s will be uploaded on Institute website by today evening.The candidates are advised to note the above and stay in touch with the website of the Institute, www.icai.org.   FREQUENT ASKED QUESTIONS (FAQs) In continuation to Important Announcement dated 15th & 17th June 2020, students who have made applications for appearance in May 2020 examinations and to change the city of examination or to “Opt-...

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  Audit is a subject that requires a lot of quick and logical application of mind to answer practical problems. It is one of the most practical-oriented subjects in the C.A. Curriculum. This paper aims to provide knowledge of generally accepted auditing procedures and of techniques & skills needed to apply them in audit engagements. CA Final Audit - Tips & Tricks: Presentation:  Always use language similar to what’s written in the book from which you are preparing. In Audit, start by writing the premise of your answer, follow it up by the definition (if any), and derive your opinion from the same. Make a habit of underlining the important keywords and answer in bullet points. CA Final Audit Important Resources by ICAI - Suggested Q&A || Study Material Attempt questions of all 100 Marks:  Try to attempt the complete 100 marks paper. Attempting a full 100 marks paper can maximize your final marks and can increase your chances of scoring more. Amendments:  Have a track of amendments relevant for your and a couple of earlier attempts. They may turn up in the exam. RTP of past 2 to 3 attempts is suggested. CA Final Audit Important Notes by CA Sarthak Jain - Special...

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CA Final Law is one of the dynamic subjects of the Chartered Accountancy course. This subject is divided into two parts, namely, Part 1: Corporate Laws for 70 marks & Part 2: Economic Laws for 30 marks. Part I: Corporate Law comprises of the law and procedures under the Companies Act, 2013 and the Securities Laws covering significant provisions of Securities Contract (Regulation) Act, 1956 read with the Securities Contract (Regulation) Rules, 1957 and the Securities Exchange Board of India Act, 1992 read with SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. Part II: Economic Laws comprises of significant provisions of select economic laws namely, the Foreign Exchange Management Act, 1999, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Prevention of Money Laundering Act, 2002, the Foreign Contribution Regulation Act, 2010, the Insolvency and Bankruptcy Code, 2016 and the Arbitration and Conciliation Act, 1996. Tips & Tricks:  Proper Presentation of Answers & Case Laws: Writing correct answer is not sufficient to gain marks in CA papers. Besides writing the correct answer you have to present it properly. The answer must be given in a sequence as demanded by ICAI. Not only answer but...

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The new CA Final syllabus has a new introduction of an optional paper where students can choose one from six available options. The examination is designed to be an open bookcase study examination. If you have chosen Risk management (Paper 6A) as your optional subject in CA Final and are looking for a Guide to Prepare for CA Final Risk Management, this article is just for you. The Risk Management paper in CA Final examination is built around applying risk scenarios to business. Many modules in this paper are from the post-qualification courses in insurance and risk management offered by ICAI. The subject is close to Auditing, Strategic Financial Management, and Actuaries, Quantitative Methods, Corporate Governance and various Risk models. It is essentially an extension of the assurance subject. Paper 6B in CA Final is Financial Services & Capital Markets, one of the electives/optional subjects for you to choose from a plethora of others.Being a concept-oriented paper, FSCM is touted as a favorite among electives due to some advantages. It is high scoring and is considered a great add-on for aspirants looking for a career in investment banking, equity research, and stock markets. This elective is also reckoned as putting CA aspirants on the same level as MBA...

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Strategic Financial Management has been increasingly gaining importance in the CA Final Curriculum and is expected to trend as one of the more challenging papers in times to come. Some of the important pointers to approach the subject from the conceptual and examination point of view have been discussed below, however, over the years institute has been focusing on a high level of conceptual clarity and ability to solve practical questions in a very tight time frame. This requires oneself to practice each topic thoroughly with an ability to apply the same in real-life situations. From the examination perspective, almost equal weightage is given to all the topics. Further, an all-round understanding of the subject helps in solving questions with interrelated concepts.  Tips & Tricks: The institute provides very good quality study material and one should not ignore the same, it is comprehensive as well as exhaustive. CA Final Strategic Financial Management Important Resources by ICAI - Suggested Q&A || Study Material Pen On Paper - Written practice is a Must! This is one of the most important and often ignored aspects of your preparation for CA Final Exams. The subject requires an in-depth application of mathematics and statistics and hence it goes without saying...

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POSTPONEMENT OF CHARTERED ACCOUNTANT EXAMINATIONS, MAY 2020 In continuation to the Important Announcement dated 27th March, 2020, it is hereby notified for general information that in view of the ongoing spurt of the COVID-19 pandemic and in the interest of the wellbeing of students, the Chartered Accountant Examinations scheduled from 19th June 2020 to 4 th July, 2020* stand rescheduled and the said examinations shall now be held from 29 th July 2020 to 16th August, 2020 as per details given below :Check out the Official Notification - Click Here

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Allowing provisional registration in the Foundation Course of Institute of Chartered Accountants of India (ICAI) for students who have been allotted either admit card and/or appeared in one or more papers of Class XII examinations Due to the outbreak of the COVID -19 pandemic, the CBSE/ICSE/State Boards have postponed Class 12th Board examinations that were to be held from 19th March 2020 and onwards.In view of above, such candidates who are not able to register themselves in the Foundation due to non-appearance in all papers of class 12th Examination, the Competent Authority has decided to relax the eligibility criteria for registering in Foundation Course, as a one-time measure, which is as under:-Candidate may provisionally register in the Foundation Course on or before 30th June 2020 if he has been either allotted the admit card and/or appeared in one or more papers in the months of February/March 2020 in the Senior Secondary (10+2) Examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course and; appear in November 2020 Foundation examination after passing the Senior Secondary (10+2) examination...

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Usually, the seller collects GST from Buyers and pays it to the government. However, in some cases buyers pay GST directly to the government. This is called a reverse charge on GST. There are two sorts of reverse charge scenarios provided in law. The first scenario is dependent on the nature of the supply and/or nature of the supplier. The first scenario includes section 9 (3) of the CGST/SGST (UTGST) Act and section 5 (3) of the IGST Act. The Second scenario includes section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act where taxable supplies by any unregistered person to a registered person is covered. According to the provisions of section 9(3) of CGST / SGST (UTGST) Act, 2017 / section 5(3) of IGST Act, 2017, the Government may, on the recommendations of the Council, with notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis by the recipient of such goods or services. Like-wise, section 9(4) of CGST / SGST (UTGST) Act, 2017 / section 5(4) of IGST Act, 2017 provides that the tax in respect of the supply of...

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After the declaration of Result, there are a few happy faces of candidates who’ve managed to clear the exams. Their hard work has been rewarded and they are all charged up for a good career ahead. On the other hand some are not happy with their results. Here I am listing Reasons For Failure Of CA Students In Exams.

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Bounce Back The Secret to Guaranteed Success – Positive approach If you fail an exam you will obviously be disappointed. The fundamental issue is what you do about it. If you are not careful you will become negative and try to ignore the result.

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Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.Financial Education is important because the health and strength of entire nations depend on the financial literacy of every individual. When people know how to make sound decisions about their personal finances, their strong financial behavior leads to financially secure lives. The fewer people who make bad decisions about their personal finances, the stronger the society will become. Instead of asking why financial education is important, perhaps we should be asking how to impart a strong personal finance education to every citizen to reap the full benefits of a financial education. When every person is financially secure, the nation will be financially secure. Impoves Lifelong Financial Behaivour Although the financial consequences of being financially illiterate are well known in certain circles, others may ask, “Why is financial education important?” Does financial education really...

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