Nov 2017

Students Queries Addressed by ICAI – Must Read

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Q: Syllabus is changing, exam pattern is changing, why stipend does not increase? When will stipend increase?

A: The increase in stipend is under consideration.

Q: Do CS professionals have any exemption/relaxation in articleship period of CA Course?

A: There is no exemptions/relaxation in articleship period for CS professionals

Q: Why don’t we have colleges for CAs?

A: Basically CA course is in distance education mode which is catering to lakhs of students spread all over the country and abroad. It is very difficult for the Institute to have its own campuses for so many students. Moreover, under the laws, the ICAI cannot establish colleges. However, the Institute has tied up with (accredited) some colleges/institutions to provide classroom coaching to its students.

Q: Teaching methods of classes are different from methods of Institute, because of this students get confused as to which method to follow, please suggest.

A: The study material provided by the Institute gives you a basic framework within which you have to prepare for the exam. The classes organized by the Institute are in the nature of revisionary classes. It is assumed that you would first study from the study material and then attend these classes. That is why their nature is different from the classes organized by other institutions which may start from scratch. You may attend any of these depending upon your capability and choice.

Q: Should we learn all sections, subsections and clauses in CA Final Law? 

A: In the paper No. 4 of CA Final i.e. Corporate and Allied Laws, it is desirable to support answers with relevant sections, sub-sections and clauses on the matter wherever necessary. Extra efforts are to be made at least on learning the Section numbers. If by any chance, students do not remember the Section numbers, subsections and clauses while answering any question in the examination paper on the subject, they may not lose heart on this score. They may otherwise strengthen their answer by appropriate reasoning and examples. However, they may desist from citing wrong Section numbers, sub-sections and clauses.

Q: In theory paper, whether we have to write the answer in proper book language or we can write in our own simple words.

A: Mostly you are expected to write answers in your own language but sometimes the question may demand you to write proper book language. (quoting of case law etc.)

Q: Does ICAI have a benchmark passing rate set for every attempt? If not, then if two students write a exam for 85 marks, why one will pass and other won’t ? 

A: No, there is no set benchmark for any attempt. The marks depend upon the quality of the answers and not upon the number of questions attempted.

Q: Is it necessary to write the answer in the serial order?

A: It is not necessary to write the answer in the serial order. But you should mention correct question number clearly.

Q: To what extent ICAI considers judgments given by High courts of various states with respect to the Income Tax Act, 1961 while checking copies of Final students and what is the best source to refer for such judgments. 

A: Questions can be answered on the basis of Supreme Court as well as High Court judgments interpreting the tax provisions, which are relevant as per the law as amended by the Finance Act applicable for the examination.

Q: What is the reason for delay in result?

A: Normally the results are declared on time. In exceptional cases, there could be delay of one or two days due to unavoidable reasons. Moreover, one needs to appreciate that number of students has increased quite a bit over the past few years and since last two years, a gap between two papers has also been there increasing the overall duration of exam.

Q: Presentation and handwriting count. But, do they play a substantial role in exam?

A: If your answer is correct and it is presented nicely and in good hand-writing, it is surely going to fetch you good marks than an answer which is correct but which is not presented nicely. But if your answer is conceptually wrong, howsoever good the presentation may be, you are not going to get marks.

Q: Can you please explain what is the exact method of paper marking, I mean whether there is step by step marking or not?

A: Yes, step by step marking is there while checking the papers.

Q: Can we take Final examination before completing articleship? (As 3 years articleship is a long duration). 

A: Yes, you can take Final examination during last six months of articleship

Q: Why Final exam attempts is after 2½ years after articleship registration? It is too long period. Can it be shortened?

A: It is as per rules of the Institute. It cannot be changed unless CA Regulations are amended to that effect.

Q: Will the format of question in paper be the same as given in the modules & manuals. 

A: Not necessarily.

Q: How important is it to quote case laws in subjects like law and tax. Will we lose marks by not quoting unless demanded by the question? 

A: Try to quote relevant section numbers/case laws, wherever possible. However, it is better not to quote than to misquote a section number/case law.

Q: If the question carries 16 marks, if I answer it in a precise manner, in a single page, will the examiner give full marks? Does the weight of paper matter?

A: Answer should be correct and comprehensive. All steps, assumptions and working notes should form a part of the answer. Besides, answers presented in a good manner carry better marks.

Q: If we do not attempt the compulsory question, what is the impact? Whether zero marks will be awarded or some additional marks will also be deducted?

A: No marks will be awarded for the unattempted compulsory question.

Q: Is criteria for 1st attempt student and a 3rd attempt in checking exam copies different?

A: No, the criteria is same for all the papers.

Q: In a theoretical question of 8 marks, how much does an examiner expect to be written? 

A: Answer should be precise, comprehensive and to the point.

Q: CA exam should judge the intellectual ability of students and their preparation. Why are they testing our handwriting’s speed? Can’t there be three and half or four hours time for a paper. 

A: Generally, papers are set in a manner that an average student with average speed of handwriting can complete the paper in three hours.

Q: Is experience gained in articleship useful in clearing final paper. 

A: The experience gained in articleship is quite helpful in your Final exams as the practical exposure gained during articleship helps you to tackle practical problems in a confident manner.

Q: What does ICAI expect students to be in the matters of Approach to exam, Knowledge base.

A: We expect students to thoroughly go through the study material provided by the Institute. In addition, they are expected to attempt questions from different sources in order to have good practice of the computational problems. They are also expected to attempt RTPs, Suggested Answers, Mock Test Papers, Practice Manuals provided by the Institute under examination conditions.

CPT/Foundation students are expected to have basic knowledge, IPCC/Intermediate students are expected to have working knowledge and Final students are expected to have expert knowledge of their respective subjects.

Q: Should we refer other books as well for our practice and study? 

A: You should make study material including practice manual as your base. Added to this, you may practice from as many books as you like. But remember to select good text books of renowned authors rather than relying on coaching classes’ short notes, help books and guides.

Q: Why is the syllabus of CA not according to the practical work of a Chartered Accountant?

A: The syllabus of CA Course gives you the theoretical base on which practical work of CAs hinges. It may not contain fine nuances of practical life but it surely gives a framework within which a CA functions. Moreover, the practical training imparted to CA students fills the gaps left by the theoretical training. A mix of both is essential to make you a complete chartered accountant.

Q: Maths is not needed in CA’s practice. Then why is it being tested at CPT/Foundation Level?

A: Maths strengthens your base and trains you to deal with computational subjects like Accountancy, Financial Management, Cost Accounting etc. Therefore a basic understanding of mathematics is necessary for CAs and that is why it is being taught and tested at CPT/Foundation level.

Q: Why does not ICAI organize classes for the different CA courses in the Institute itself?

A: The ICAI caters to lakhs of students spread all over the country. It is very difficult to have campuses for such a large number of students. However, the Institute does organize classes for different levels in different ways like through accredited institutes and colleges, revisionary classes in branches.

Q: How many Courses we can do with CA? / Q. Can we do with CA & CS simultaneously?

A: In addition to CA, with the permission of Institute (by filling form 112), an articled/audit assistant may do one regular course provided the classes are not held between 9.30 AM and 5.30 PM. Student will be allowed to pursue another course only on completion of the course permitted earlier and completed in all respects.

The students are advised to join graduation course either through IGNOU/NSOU/Bharathiar University/University of Madras or through correspondence course or through colleges whose timings do not clash with the timing of practical training.

Q: Is it true that students who clear CA exams in first attempt get preference ICAI campus placement.

A: It is true that students who clear in the first attempt have an edge over students who clear in more than one attempt. Besides, your performance in the interview also counts.

Q: How to manage both groups, how to prepare for IPCC (both group) within 8 months. What are the advantages of taking both groups together?

A: Managing both groups of IPCC requires a proper mix of intelligence and hard work and proper time
management. This you will have to judge whether you are capable of taking both groups together or not. If
you have even iota of doubt then it is better to take one group at a time. You save time when you take both
the groups together. Plus, You have an edge over the students who do one group at a time as it is reflected
in your Curriculum Vitae (CV).


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