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31 Jul 202411:50

Summary

TLDRThe speaker discusses their experience with the CA Final Group exam, scoring 59 marks. They recommend focusing on concepts over practical questions, using revision videos and Atul Sarthak's notes. They suggest watching faculty videos for specific topics and emphasize the importance of understanding concepts over memorizing. The speaker also shares their strategy for studying chapters like Transfer Pricing and Taxation, using memory techniques for rates and suggesting resources like Yash Sar's videos for remembering TCS rates. They advise a simple approach to studying topics like PGBP and case laws, emphasizing understanding over rote learning.

Takeaways

📚 The speaker has passed the May 2024 CA Final Group exam and scored 59 marks.
📈 They have made a compilation of resources and materials they followed and are sharing them for others to benefit.
🔍 The speaker emphasizes starting with the materials and focusing on concepts rather than practical questions.
📝 They recommend watching faculty revision videos and reading the compact book by B.S.R. for a comprehensive understanding.
🎯 For specific topics, the speaker suggests focusing on certain faculty videos for better clarity.
📊 The speaker advises that for the 'Transfer Pricing' chapter, one can expect a minimum of six marks from the chapter.
📖 They mention that if one has read the book thoroughly, they can skip the first step and directly refer to the 'One Sir' cardiology.
💡 The speaker shares their own memory tricks for the 'Indirect Taxes' chapter and provides a link to their tricks.
📉 For 'Equity', they recommend only Shyam Vayas Sir's video lectures and not to worry about the totality of the lectures.
📋 The speaker provides a detailed study plan for 'Indirect Taxes', emphasizing the importance of understanding the concepts and solving questions.
📈 They suggest creating an adjustment sheet for 'PgTp' and thoroughly understanding each adjustment.
📉 For 'Taxation of Various Activities', the speaker recommends reading the case laws daily and remembering the case names and the material inside.
📝 The speaker shares their approach to studying 'Capital Gains', dividing the chapter into concepts and solving questions after understanding each concept.
📑 They mention that for 'Capital Gains', they only read Atul Sir's notes and watched two or three of Echi Sir's revision videos.

Q & A

What is the speaker's overall strategy for preparing for the exam?
-The speaker suggests focusing on understanding concepts rather than just practical questions, watching revision videos, and using resources like Atul Sir's concise notes and BV Sir's compact book for specific topics.
Why is it important to watch the revision videos by the professors mentioned in the script?
-The revision videos are crucial as they provide detailed explanations of the entire chapter and help in understanding the concepts deeply, which is beneficial for both concept-based and practical questions in the exam.
What is the significance of focusing on concepts in the exam preparation according to the speaker?
-Focusing on concepts is significant because the exam now includes more concept-based questions rather than just practical ones, which requires a deeper understanding of the subject matter.
What is the speaker's advice for studying the 'Transfer Pricing' chapter?
-The speaker advises watching the revision videos for 'Transfer Pricing' and then solving questions directly without needing to refer to the mechanical approach, as the concepts will be clear after watching the videos.
Why is it recommended to read Atul Sir's concise notes for the 'Taxation' chapter?
-Atul Sir's concise notes are recommended because they provide a detailed summary of the entire chapter in a compact form, which is helpful for quick revision and understanding of the chapter.
What is the strategy for studying 'Equity and Corporate Finance' according to the speaker?
-The speaker suggests watching the revision videos by specific professors, focusing on understanding the concepts, and then solving questions to ensure a clear understanding of the topics.
What is the significance of creating one's own memory tricks for the 'Taxation' chapter?
-Creating memory tricks is significant because it helps in memorizing rates and other important details that are essential for the exam, making the revision process more efficient.
Why is it important to divide the 'Capital Gains' chapter into parts while studying?
-Dividing the 'Capital Gains' chapter into parts is important to avoid confusion and to ensure a better understanding of each concept separately before combining them for a comprehensive understanding.
What is the speaker's approach to studying 'Taxation of Various Activities'?
-The speaker recommends studying 'Taxation of Various Activities' by focusing on the adjustment sheet, understanding each adjustment thoroughly, and practicing question-solving without relying on notes.
What is the reason behind focusing on the descriptive part of the exam according to the speaker?
-The speaker emphasizes the descriptive part because it carries significant marks and should not be neglected, as it includes questions that are important for scoring well in the exam.
What is the strategy for handling the 'Case Laws' section of the exam as per the speaker?
-The strategy for 'Case Laws' is to read each case law on a daily basis, understand the matter inside without needing to memorize it, and focus on remembering the names and the material within for easy recollection during the exam.

Outlines

00:00

📚 Study Tips for CA Final Group Exam 2024

The speaker starts by sharing their success in the CA Final Group exam, scoring 59 marks, and offers to share their study materials and videos. They emphasize the importance of focusing on concepts rather than practical questions, especially for past papers. They recommend watching faculty videos for different topics and suggest starting with the chapter on Charitable Trusts, focusing more on concepts. The speaker also advises watching revision videos by specific faculty members and reading from the 'Compact' book for thorough understanding. They mention that after studying from these resources, one should be able to solve problems without needing a mechanical approach.

05:01

📈 Approach to Studying 'Transfer Pricing' and 'Equity'

The speaker discusses their approach to studying 'Transfer Pricing' and 'Equity'. They suggest watching specific faculty videos for these topics and emphasize that understanding the concepts will make solving problems easier. They also mention that for 'Transfer Pricing', after watching the recommended videos, one should not need a mechanical approach to solve problems. The speaker then talks about the study strategy for 'Equity', recommending a video by a specific faculty member, and suggests that it will simplify understanding of real-life applications of concepts. They also touch upon the importance of remembering the tax rate for 'Equity' and provide a link to a video that can help solidify this in memory.

10:02

📉 Studying 'Capital Gains' and 'Case Laws'

The speaker shares their study strategy for 'Capital Gains' and 'Case Laws'. They advise dividing the chapter into parts to avoid confusion and suggest focusing on understanding concepts rather than rote learning. They mention that 'Capital Gains' has descriptive parts that can fetch around four marks, and questions may also appear from the MCQ section. The speaker then discusses their personal study approach for three topics, mentioning that they only read notes and watched a few videos, without going into detail on what those topics were. They conclude by encouraging the audience and offering help for any queries in the comments.

Mindmap

Keywords

💡CA Final

CA Final refers to the final examination conducted by the Institute of Chartered Accountants of India (ICAI) for Chartered Accountancy students. It is a comprehensive test that covers various subjects related to accounting and finance. In the video, the speaker discusses their preparation strategy for the CA Final exam, indicating its significance as the culmination of their academic journey in accountancy.

💡Score

The term 'score' in this context refers to the marks obtained by the speaker in their CA Final exam, which was 59 out of 100. This indicates their performance level and is a measure of how well they grasped the subject matter. The speaker uses their score as a benchmark to discuss their study techniques and the effectiveness of their approach.

💡Compilation of Resources

This term refers to the process of gathering and organizing various study materials such as video lectures, concept notes, and practice questions. The speaker mentions having compiled resources, which implies a strategic approach to studying by consolidating the best materials for effective revision.

💡Conceptual Questions

Conceptual questions are those that test the understanding of fundamental principles rather than practical application. The speaker advises focusing on conceptual questions, as the ICAI exam tends to emphasize conceptual clarity over practical problem-solving. This is evident when they mention that the exam is concept-based and that practical questions are not being asked as frequently.

💡Revision Videos

Revision videos are condensed versions of lecture series designed to help students review and summarize key topics quickly. The speaker recommends watching revision videos by specific professors, suggesting that these videos are crucial for a second round of revision to reinforce learning.

💡Solving Questions

Solving questions is a practice method to apply the concepts learned. The speaker emphasizes the importance of question-solving practice, particularly after watching revision videos, to ensure that the concepts are well understood and can be applied effectively.

💡Concept Notes

Concept notes are concise summaries of key points and principles from a subject. The speaker suggests reading concept notes after watching revision videos to reinforce understanding. These notes are meant to provide a quick reference for complex topics and aid in memorization.

💡Memory Techniques

Memory techniques are strategies used to improve recall and retention of information. The speaker shares their own memory techniques and provides a link to a video that explains these techniques. This indicates that memorization plays a significant role in exam preparation, especially for topics that require rote learning.

💡Equity

Equity, in a financial context, refers to the ownership interest of shareholders in a company. The speaker mentions equity as a favorite topic and suggests focusing on it, implying that it is a key area of study within the CA Final curriculum and potentially a significant portion of the exam.

💡Taxation

Taxation is a key subject area within the CA Final exam, covering laws and regulations related to tax collection and management. The speaker discusses various chapters related to taxation, such as residential tax, capital gains tax, and other specific tax laws, indicating the breadth of topics that students need to cover.

💡Case Laws

Case laws are legal principles established through previous court rulings. The speaker advises students to expect at least one case law question in the exam and to read case laws daily. This suggests that understanding legal precedents is crucial for applying tax laws and regulations.

Highlights

Passed the CA Final Group, Exam in May, 2024 with a score of 59 marks.

Compiled resources and materials followed for the preparation.

Recommendation to focus more on concepts rather than practical questions for the upcoming exams.

Suggestion to watch faculty revision videos and read the compact notes for better understanding.

Emphasis on studying from BVS Compact Book for a comprehensive chapter-wise detail.

Chapter-wise strategy for revision including which faculty's videos to watch for specific topics.

For the chapter 'Charitable Trust', focus more on concepts and less on practical questions.

For 'Transfer Pricing', expect a minimum of six marks from the chapter.

Recommendation to watch specific revision videos for the second round of revision.

For 'Taxation of Various Activities', watch videos of different faculties for different topics.

For 'Capital Gains', watch Yash Sir's video for understanding the tax rate of TCS.

For 'Depreciation', Amit Mahajan Sir's memory technique video is provided.

For 'Tax Planning', create your own adjustment sheet and understand each adjustment thoroughly.

For 'Taxation of Various Activities', follow a simple approach and start with Yash Khandal Sir's adjustment sheet.

For 'Equity', only Shri Shailesh Vats Sir's video is recommended for real-life application concepts.

For 'Wealth Tax', expect at least one case law for four marks in the exam.

For 'Capital Gains', follow a simple approach and do not focus too much on the descriptive part.

For 'Taxation of Various Services', expect at least one case law for four marks in the exam.

For 'Taxation of Various Acts', follow a simple approach and do not focus too much on the descriptive part.

For 'Indirect Taxes', watch specific faculty videos and focus on concepts for solving questions.

For 'International Taxation', follow a simple approach and do not focus too much on the descriptive part.