MIND POWER SECRETS

To understand mind programming, let us consider how the conscious mind and the sub-conscious mind work. The conscious mind is like a watchman and the sub-conscious mind is like a store-room. The watchman has no intelligence on his own. He behaves on the information in the store. Conscious mind is like a watchman, and the sub-conscious mind is like a store-room. Mind programming means putting information into the store without the knowledge of the watchman. Mind programming involves putting information in the store without the knowledge of the watchman.
Suppose you tell yourself that "you are good at study". And the store has stored other people's comments such as "you are stupid, you can not succeed". The watchman sees your sentences and compares it with the knowledge in its store and says "this information is wrong". The watchman throws this new information away. He does not put the new positive information in the store. This is the fundamental difficulty in changing behavior of a person.
For the first time in the history of humanity, there are now easily available powerful techniques that allow you to program your mind. All these techniques reach the sub-conscious mind and put information into it without the knowledge of the conscious mind.

Relaxation and mind programming

You can relax using any relaxation technique you like.In the relaxed state, you can tell yourself positive messages such as "I am good at studies". Use imagination to see yourself achieving success.

Music, songs, and mind programming

How to find out if some music is good? It is simple. The body and mind are very intelligent. This intelligence can not be measured by IQ tests because IQ tests measure only knowledge processing, for example, multiplying two numbers. If the music is good, you will feel good and you will like the music. So, listen to any music that makes you feel good. Here is an important observation: as you learn to become more relaxed, your choice of music will change. Because music can change the brain waves and relax you, we can combine music with voice or songs for the purpose of mind programming. Consider what happens when you listen to a film song or any other popular song. The music and the soothing voice of the singer put you into a relaxed state. There is an increase in alpha brain waves. In the state of relaxation, the conscious mind becomes less critical of the incoming information. So the incoming information (words of the song) reaches your subconscious mind and is stored there. Now this new information also contributes to determine the subconscious mind's behavior.
As a result, the words of music get embedded into your subconscious easily. If those words are encouraging, motivating, positive, good then that music will make you feel good. If those words are negative, sad, discouraging, then you begin to feel that way.
Some researchers found that the happiness varies greatly for people of different countries. The happiness various across the boundaries. It does not vary so much for the people within a country, and it does not matter whether the people are rich or poor, powerful or powerless. It is my belief that the songs and music contribute to this.
Even the music that your neighbors play affects you. Particularly, film songs or other popular songs.
Do regularly visit to a park or garden and sit silently for a while. Your mind does not know when the next bird is going to sing or make pleasant sound. That is why being in park has a profound relaxing effect on a person's body and mind. Random music also increases the alpha brain waves, which indicate a relaxed state of mind and body.
Mind Power Music also contains subliminal messages for programming your sub-conscious mind.

A Simple Calculation, but Stunning ! ! ! ! ! ! !

Amazing Growth of INFOSYS.

We all know about the growth story of Infosys. How about the stock? Lets find out. Infosys was founded by Narayana Murthy along with some others in 1981. It came with an IPO in 1993 at the price of Rs. 95.

Everybody who applied got the shares. Many missed the Diamond opportunity by not applying. Suppose that a person applied for 100 Shares. It would cost him Rs. 9500. Let us assume that he is holding the same position till today. What will be the value now?

Let us calculate.Remember that in these 13 years Infosys would have offered many dividends.Let us keep this aside and calculate the value of shares alone.

Soon after IPO, Infy gave 1:1 bonus in 1994. So, our 100 shares will be 200 in 1994.

Again they gave 1:1 bonus in 1996. That will take the count to 400 shares.

And again in 1998 they offered bonus of 1:3 shares. That will take our count to 1600 shares.

In 2000, they split the stocks (Rs. 10 FC to Rs. 5 FC). This will take our count to 3200 shares.

In 2004, again they announced 1:1 bonus. It will take our count to 6400 shares.

Two years back, i.e. on 2006 they gave bonus shares in the ratio of 1:1. Now, the count of ours would be 12800.

On (13/2/2008), I checked the CMP of Infosys. Its Rs. 2070. So, what will be the value of our shares? 12800 x 2070 = Rs. 2,64,96,000.

Yes, its Two Crores Sixty Four Lakh and Ninety Six Thousand only.

What other investment would have taken to this level? Real-Estate? Bank Deposit? Gold? I don't think so. A Bank deposit of Rs. 9500 in the same year at the rate of 12% would have hardly fetched us Rs.38,000 by this time. Can u find ONE MORE INFOSYS..................now and tell me also :)

CORPORATE LESSON

So, we will be going through change
Here’s three lessons from large corporations to help you survive change….

Corporate Lesson 1

A crow was sitting on a tree, doing nothing all day. A small rabbit saw the crow, and asked him,"Can I also sit like you and do nothing all day long?” The crow answered: "Sure, why not.” So, the rabbit sat on the ground below the crow, and rested. All of a sudden, a fox appeared, Jumped on the rabbit... and ate it.

MORAL OF THE STORY : To be sitting and doing nothing, you must be sitting very, very high up.

Corporate Lesson 2

A turkey was chatting with a bull. "I would love to be able to get to the top of that tree," sighed the turkey, "but I haven't got the energy.” Well, why don't you nibble on some of my droppings?" replied the bull. They're packed with nutrients." The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree. The next day, after eating more dung, he reached the second branch. Finally after a fortnight, there he was proudly perched at the top of the tree. Soon he was spotted by a farmer. Who promptly shot the turkey out of the tree.

MORAL OF THE STORY : Bullshit might get you to the top, but it won't keep you there.

Corporate Lesson 3

A little bird was flying south for the winter. It was so cold, the bird froze and fell to the ground in a large field. While it was lying there, a cow came by and dropped some dung on it. As the frozen bird lay there in the pile of cow dung, it began to realise how warm it was. The dung was actually thawing him out!
He lay there all warm and happy, and soon began to sing for joy. A passing cat heard the bird singing and came to investigate. Following the sound, the cat discovered the bird under the pile of cow dung, and promptly dug him out and ate him!

MORAL OF THE STORY :
1) Not everyone who drops shit on you is your enemy.
2) Not everyone who gets you out of shit is your friend.
3) And when you're in deep shit,keep your mouth shut .

Tips to control cost in organization

• Review the number of internal reports that your company generates and find a way to eliminate them. Better yet, eliminate routine reports entirely: Reports should often show only critical exceptions, not routine information.
• Consolidate products that conflict or compete with each other in the market.
• Drop out of trade associations that have high membership dues and low perceived value.
• If you have several field offices that do the same type of work (such as call centers or maintenance crews), and consolidation of the offices isn't appropriate, compare the way each office does the work. Identify the most efficient practices and implement them at all the field offices.
• Look for opportunities to eliminate positions when employees leave or retire.
• Hire temporary employees instead of permanent ones, particularly when demand for your product or service is high but the future is uncertain.
• Employ college interns where feasible.
• "Benchmark" your company's performance against your competition in a number of areas; for example, revenue (or better yet, profit) per employee. But don't browbeat your employees with the numbers. Instead, find out what your competition is doing to outperform you, and then implement those practices at your company.
• Ask all of your employees -- managers and staff -- to come up with cost reduction ideas on a regular basis. Reward and implement their ideas. That's where some of the best, most innovative, expense reduction and cost control ideas come from.
  Human Resources
• Contract out the payroll processing function.
• Examine the possibility of self-insuring dental or optical coverage.
• Offer a managed-care insurance option to reduce the cost of employee benefits.
• Consolidate human resource or training functions in the field where appropriate.
• If times are tough or cash is tight, consider providing additional days off to employees as a partial or full substitute for raises.
• Streamline the approval process for hiring, transfers, and performance appraisals.
• Employee performance appraisals are generally more effective if held on a quarterly or semi-annual basis, rather than annually.
• Reduce duplicate paperwork and manuals, such as duplicate human resource policy manuals.
  Finance
• Audit your invoices. Insurance, medical, legal, and accounting bills often contain errors and overcharges.
• Use well-located lockboxes to receive incoming checks.
• Decrease the amount of time between when the product/service is provided and when the bill is sent. Consider billing in advance where appropriate.
• Institute -- and enforce -- late fees and interest charges on delinquent payments.
• Encourage employees to use credit cards instead of obtaining cash advances.
• Invest cash overnight where appropriate.
• Constantly review whether services currently performed in-house would be more cost-effective if contracted out -- and vice versa.
  Administrative Expenses
• Maintain control of office supplies. By keeping supplies under lock and key and giving one employee responsibility for the supply cabinet, companies have reduced costs by as much as 50 percent.
• Buy used office equipment and furniture, instead of new.
• Negotiate for telephone, gas, electric and other utility services. These businesses, which used to be monopolies, are becoming increasingly competitive.
• Coordinate the use of overnight delivery services. Employees often get into the habit of using expensive overnight delivery, where 2-day or even U.S. Mail would be more appropriate.
• Centralize responsibility for purchasing office supplies.
• Review who is subscribing to what publications in the office, and consider eliminating unnecessary or duplicate subscriptions.
• Consider rewarding employees for excellent attendance if absenteeism is a problem.
• Use videoconferencing or teleconferencing instead of face-to-face meetings where possible.
• Buy frequent flyer miles from your employees and use them for business travel, thereby sharing the savings.
• If local hotel costs are high, consider obtaining a corporate apartment.
• Consider reducing the frequency of janitorial .
• Sublet excess office space.
• Eliminate the medical services facility at corporate or field offices where there are few workplace safety or injury problems, and a medical clinic is located nearby.
• Share the savings with employees when they find errors on medical bills, travel invoices, or other business expenses.
  Purchasing
• Consolidate purchasing where possible. For example, have one person coordinate the purchase of all office supplies in order to take advantage of bulk discounts.
• Negotiate a "most favored nation" clause with suppliers, so you are guaranteed that the price you pay is no higher than other customers (or customers of similar volume) pay.
• Confront suppliers, and re-bid the order where appropriate, when suppliers announce a price increase.
• Negotiate penalties with suppliers for delays or poor quality -- and, if cost-effective, include bonuses for high-quality or ahead-of-schedule performance.
• Implement "just-in-time" inventory for your business.
• Buy in bulk. Consider forming an alliance with other purchasers to obtain bulk discounts.
• Establish standard minimum and automatic reordering quantities for routine items.
  Engineering
• Provide automatic drawing and drafting equipment to engineers to prevent manual drafting and tracing of drawings, and to avoid the loss of key engineering documents.
  Legal
• Use paralegals and law clerks for routine legal duties, reserving lawyers for more complex legal matters and representation at legal proceedings.
• Provide legal training to non-legal personnel, so that all employees understand the legal consequences of their actions and thereby avoid costly lawsuits.
• Insist on detailed billing from your lawyer. (This is, verbatim, the invoice that was submitted to a large utility company by its law firm: "Work on the XYZ case during the month of November: $127,233.14.")
  Information Systems
• Transfer most data entry functions to the field to eliminate duplication. For example, instead of having employees submit written timesheets which must be entered into the system, have employees enter their timesheet data directly into the system.
  - CHANDAN MUNDHRA
  
  
  
  
  
  

Lesson From Financial Crisis

LATELY, I have been thinking a lot about the Lehman crisis . Spending money that they didn't have and going beyond their means is one of the main reasons for their situation today. In fact that is the cause for the current economic crisis in the US.When I see all this happening, I can only remember the good old days. Then, karz was bad. People looked down upon those who took loans. Parents would not give their daughter's hand in marriage to a man with loans.But of course, the times have changed now. Everyone I know has a loan. The buzz word is EMI (equated monthly installment). Today, you can buy everything on EMI - a house, a television, an i-Pod. In fact I know of someone who just bought a fancy BMW 3 series on EMI, instead of buying a cheaper car outright with cash. I mostly prefer to take public transport, but then I am an old man with old thoughts! Anyway, coming back to what caused the crisis.

Imagine having Rs 2 lakh in your bank account, no regular income, yet buying a house worth Rs 65 lakh, in the hope of selling it for a higher price. Even if the price of the house fell by just 5 per cent (that is Rs 3 lakh), you will go bankrupt. This is what Lehman Brothers did;

with around USD 20 billion they went and bought assets worth over USD 600 billion. Isn't it suicidal and simply foolish? I am sure things would have been different, had I been the head of Lehman brothers. But who wants an old conservative man like me to head a complex financial institution.

But there are a few that we can learn:

1. Live a balanced life and avoid overspending. Tip: As soon as you get your monthly salary, set aside a fixed amount, usually 35 per cent, for insurance, savings and investments. You can then spend the rest.
2. Not all loans are bad. Loans that are 'need based' (home loans, education loans) can always find a place in your finances against those that are largely 'want based' (personal loans, car loans).
3. Borrow only if repayment is financially comfortable. A thumb rule: Keep EMIs within 30 per cent of your monthly income

In that respect, there is one American who I really respect – Warren Buffet. He has lived in the same ordinary house for over three decades, drives his own medium sized car and leads an extremely regular 'middle class' life. If that's all it takes for the richest person on earth to be happy, why do all of us need to take extra stress just so that we can get things which aren't even essential?

INDIA still has a lot of growth ahead and the future holds immense opportunities for us.
Let us make the most of it and save and invest it wisely instead of wasting our precious little on things we don't need.

A to Z for SUCCESS

Avoid negative sources, people, places & habits.

Believe in Yourself.

Consider things from every angle.

Don’t give up & don’t give in.

Enjoy life today- Yesterday is gone, tomorrow may never come.

Family &friends are hidden treasures, seek them & enjoy their riches.

Give more than you planned to.

Hang on to your dreams.

Ignore those who try to discourage you.

Just do it.

Keep trying no matter how hard it seems, it will get easier.

Love yourself First and most & learn to say ‘NO’.

Make it Happen.

Never lie, cheat or steal, always strike a fair deal.

Open your eyes and see things as they really are.

Practice makes perfect.

Quitters never win and winners never Quit.

Read, study and learn every thing important in your life.

Stop procrastinating.

Take control of your own Destiny.

Understand yourself to better understand others.

Visualize it.

Want it more than any thing.

Xcellerate your efforts.

Zero in on your target and go for it.

- CA Chandan Mundhra

Why Become A Charted Accountant

Why sit counting somebody’s money when you can make stockpiles of money on your own by doing your Family Business?
Why not make money just by doing a MBA course by taking up a job in some company or at a Stock Broking Firm or at a Bank or by doing a programming course and joining a lucrative Software Firm?
Why invest Four and half years of your life just learning accounting when you can get a job straight away by becoming a MBA and that too completing the degree in just two years? Why become a Chartered Accountant?
These are just some of the questions that remain unanswered in the mind of a student who has just passed his 10th SSC or ICSE examinations and then he opts the easy, faster and best way out. These are my reasons to show a way to such a confused mind.
Young minds now a day just want the faster way out, for being wealthy in a short time is the ultimate definition of success today. They want to look for a future overseas like in the UK, USA etc, and not to mention money in dollars. But while running after money in a foreign exchange difference overseas, they forget the importance of knowledge. Acquiring money does not take time, acquiring knowledge does. It is the art of knowing a subject that helps you do your job better. A chartered accountant deals with in a wide arena of topics like business accounting, auditing, company law, taxation, Foreign Exchange management, Inventory and Working Capital Management just to mention a few.
All this accounting stuff does not go as unregulated and mismanaged as a student would think!! We have our own Chartered Accountants Act, and the Institute of Chartered Accountants of India is the premier body in charge of implementing this. The Institute helps its members to update their knowledge through various seminars, study circle meetings and conferences, thus opening new avenues to practice. It also gives students coming from different regions a chance to study by eliminating border barriers across the state, so that the Institute has a regional office in every corner of India. It always updates a course so that students get new subjects to learn as time changes and with time business needs also undergo a change. Its is because of this that the institute carrier on computer training for its article students and updates courses with new compliances like US GAAP (for Final course students) and VAT (for PCC). It does not have an all work and no play philosophy as a result of which student study circle meetings, student conferences, elocutions, sports meets are held by different regional offices. This contributes to all round development for a student. All this in just Rs.10, 000!!! This is why it is one of the least expensive but most respected course in the country.
Knowledge when applied becomes wisdom. So you think Education in India was just a policy made by British to produce clerks!!! You can acquire knowledge in other courses also. But you don’t know how to apply it until you take up a job. It is recognizing this need to apply knowledge that the Institute offers a three year article ship training to all its students who clear CPT. The Three year experience working with a chartered accountant teaches you how to handle a client in future by showing him the best ways to improve his business practice through different compliances. Thus making the Chartered Accountant to liaison between himself and the government bodies so the businessman can concentrate on flourishing his business. This work experience shows the students the way of work which is later on bound to become their way of Lifestyle itself!!
Reasoning drives business Decision’s. The power to reason every small business practice helps to get the best evaluation for the client. Be it through a project consultancy report made by a chartered accountant for a loan sanction for a client’s business or audit which helps to reason a transaction to its capability to do value addition to a accounting system or a tough capital budgeting or a expansion decision. Thus even the most complicated decisions are made with great care, study and regard for the client. A chartered accountant does this by strengthening a business internal controls by a through study of the client’s transactions so that the audit system implemented itself takes care of nuisance activities and ensures a company its perpetual existence. Reasoning helps in justification for the client’s accounts for availing of various exemptions in the taxation arena. The Institute also takes up the controversial areas in commerce to make the practicing professional aware about the disputed areas. Institute also renders advice to government on and compliance and regulatory decisions. The increase in awareness about compliances also helps the Finance Ministers and the Government in particular to make the job for the businessmen easier by identifying the performing sectors and giving them due credit and making government procedures faster thus reducing corruption levels in the country. This change has been the major factor in the India Inc. growth story. This way a Chartered accountant can fuel the Finance engine of the Economy.
So you have a drive to become a leader and think only a Political Science Program abroad will grant you a leadership spirit? Think again. Every three year’s the institute’s President is elected by a voting process in which the institute members are encouraged to participate. The Institute is presided by the council which has 40 members 32 of which are elected. Thus there is no selection criteria thus reducing personal bias. The Presidents then move on to show the members their vision for the profession in their tenure. There are regional council heads for different states as well. The code of ethics for practicing professionals also encourages mergers for CA firms. Through such mergers the chartered accountants can engage in collective practice and better work opportunities. This drive for leadership in turn builds team work.
Thus now a Team of Chartered accountants verifies and re verifies jobs thus reducing error margins that can adversely affect the client. Within the team every CA remains independently answerable. Team work also reduces stress and risk that such certification jobs involve. Thus a Chartered Accountant can work as a tool becoming a employee and also has drive for business by engaging in his own practice.
Every opportunity has its own rewards. Taxation and Audit and Accountancy have been the building blocks for any chartered Accountant. The idea of audit gives insight into a company’s way of doing business to the accountant. Having knowledge of business of clients the chartered accountant becomes aware for industry benchmarks of every business. The arena’s in which the institute can participate are increasing as foreign companies have started recognizing the potential growth in India. This has increased compliances to be followed for Indian companies. Like large investors abroad require compliance with US GAAP and IFRS standards. There has also been a surge in the Management consultancy areas in which chartered accountants can participate for raising money through Banks , Financial institutions and the Capital Markets .The capital markets have also opened up to new debt & equity instruments. The stock market also offers opportunity to conduct equity research for companies and investors through Mutual Funds, Bank’s and Foreign Equity research firms. Indian Business Development has urged Global Accounting Bodies to recognize the profession. With the flag bearers of the Institute being nominated in the International Federation of Accountants (IFCI) in Auckland. Institute also inaugurated the International Conference on accounting towards value creation. These areas helped to increase the demand for a certifying professional’s advice. Clearly the monetary gains from these opportunities are not less. Every year the institute invites Campus Placement program’s in which the past leading recruiters have been Reliance Industries, ICICI bank and Jaypee Capital Services. The highest salary offered to a Fresher clearing Final Ca in the first attempt is Rs.38.25 Lakhs also the most percentage opportunity is generated in Banking Companies and Chartered Accountancy firms as per recently study by the Institute.
So you wanted to see the world by becoming a door to door Marketer??? One can think about practicing in Finance abroad and search prospects there as well. Since in these countries one has to spend a lot of money for education, such professionals are a rare sight. This is where we stand to gain better chance. And why not? There’s no less knowledge that such a Indian Course can give right? Thus proving that the course is gaining international recognition as well!!! The Institute also has its branches in the Gulf countries since Realty and Investment sectors are on the rise there. Naturally recognition comes not only for business but also from the society.
People spend years doing re search to acquire a “Phd” or a “Dr.” title. We are not far behind. The institute quite recently has come up with the novel idea of affixing “CA” before the First names of the members. So you are awarded with a title even if you are a fresher in the area.
The article ship experience always ensures you know more than you could do anywhere. You are just 24 years old and you already are somebody!!!!!
The confidence that a chartered accountants advice or certification offers that business money is not misused, that the accounts are true and fair. The chartered accountant also ensures ways of safeguarding the business assets to management. The standards laid down by the Institute are a guide to all business transactions. The Professional offers privacy and personal attention to one and all clients.
And last reason but not the least, Relationships are not build on money, they are built on trust and confidence. The trust that a patient keeps while going to a eye surgeon for operation or trust that a software company wants to build by signing a non disclosure agreement with its employee so that he does not leak the software code to rivals, is priceless!!! Internal Records are a tricky area and are to be safeguarded since a leakage of these can mean a major threat of acquisition by a rival. Ethics help the professional community at large by rotating audits among different audit firms, ensuring work to all and no monopoly concept. The institute also lays down its code of ethics for practicing chartered accountants as regards Fees to be charged, its policy of no advertising etc and prescribes the harshest penalty to safeguard the interest of the profession.
These reasons I have stumbled across while doing the course, as I read more about my institute through its student newsletters and journals. And now I give reason close to my heart as to why I decided to do Chartered Accountancy. My teacher showed me the way to do this course, when most of my relatives were against it. But he tried to show me a vision, a vision which is doing good work. Now I look forward to a better prospect with my article ship period ending around a few months now – giving my Final CA examination. A Exam which is difficult but not impossible to crack. Students now must be encouraged to do difficult tasks. As Education teaches you a task is difficult and not impossible. Owing to industry demand for finance which is not expected to go down anytime soon, thousands of students are taking up the course but only hundreds pass. Hence young articles must be encouraged to go on and helped while they are at such a uphill task!! Students like this also learn to manage their studies while doing article ship…just as one would work in a hotel part time abroad and use the rest of the time studying. Only with CA you earn with dignity!!!!

And hence I say to all those students beginning their profession Opportunity, Learning, Reasoning, Trust, Leadership are Lifestyle principles and hence I call out to a student who enrolls in my institute, “Welcome to knowledge and opportunity, welcome to chartered accountancy!!”

Charted Accountancy "A Smart work not a hard Work"

HOW TO PASS CA in Single ATTEMPT

AN OLD joke on passing CA examinations goes like this: There was a writing in a church that read, "Jesus never fails". A CA student added below that, "Then let him try the CA examination"!Passing the CA exam is not as difficult as it is made out to be. Several students clear it in the first attempt and even secure ranks. Why, then, are others unable to crack it? The reasons are several.
Capabilities of the students - There is no CAT-like entrance test to join the course. The course costs less than school education. There are two streams of students joining the course one that joins after the intermediate or plus-two stage, and the other that joins after graduation. The stage at which one joins the course can be crucial. The inherent ability of a student can be an important factor. A bright student chooses the course by choice and not by chance. Such students take the PE I examination route.
Medium of instruction -A second major contributing factor is the medium of instruction. Those who study in regional-medium schools, face a lot of difficulty in comprehending the subject.
Exposure -A third factor is the exposure to the business world, terminologies, and so on. Students from rural and semi-urban areas face difficulty in understanding the subject due to inadequate exposure. Another drawback could be the lack of access to reading material, non-availability of textbooks, Internet facilities, so on. While these students are sincere, they may lack the right guidance.Students can overcome the fear of the examination by following a regular and systematic study routine.
General study -Start preparing for the examination immediately on joining the course. Study regularly and conscientiously. It does not matter how many hours you study, but how much you understand. Qualitative study is important. In addition to the student journal, subscribe to the journal of the Institute. It helps to keep yourself updated. Keep track of the latest in all the subjects: accounting standards (new standards, revision of old ones, interpretations, etc.) auditing and assurance standards, amendments to company law and other laws, Finance Act and Income-Tax law. Contribute and subscribe to a good business newspaper. Essays on capital markets, tax matters and other subjects will be helpful.
Study material -Your study material is the most important. Supplement it with a good standard textbook. A good student does not require tuition. Tuitions certainly are helpful, but only when you have it in you to use them. For a professional, self-study and getting to the root of the subject is essential.
Attitude -Subjects such as law require repeated reading. Candidates often complain of not being able to remember the provisions/sections. Now, this is a matter of attitude. When one can remember film songs, sequences, dialogues, phone numbers, why not the section numbers? Students tend to read out of compulsion. Examinations are imposed on them. If it were not for examinations, would students have studied? Apply the attitude you have towards play to studies. The world will begin look different.
Strategies -Follow a strategy of study. Remember, you cannot study accounts independent of company law. Income-tax cannot be studied independent of accounting. Thus, these subjects are inter-related. You have to study all the subjects for the examination. Take, for example, the issue of shares by a company. Read provisions of company law from S. 55 onwards prospectus, contents, liabilities for misstatements, and so on till S.108. You would have grasped the legal requirements. Then work out problems in accounting on issue of shares at par, premium, discount, for consideration in other than cash, etc. Follow it up with audit of issue of share capital, resolutions to be passed, documents to verify, and so on.Study the tax provisions for allowability of share issue expenses, etc. Thus, you would have covered the issue from all points of view. This may look cumbersome in the beginning, but once you get used to it, things become interesting. This way you will have covered a part of company law, a part of income-tax, part of auditing, as well as a part of accounting.
Group study -Group study can be helpful too. Form yourselves into groups of six. Thus six friends can cover six subjects. Rotate them among yourselves. Engage in group discussions. Subjects like tax, law, etc., can be tackled better this way. Use a marker to highlight the material items as and when you study it for the first time. When you read the second time, you can concentrate only on the highlighted part. Grammar is, of course, to be built in into the answer.All subjects are importantOne should realise that the candidate should pass in all subjects and secure 50 per cent in the aggregate to clear the examination. Scoring 90 per cent in one and 10 per cent in another, will lead you nowhere. Distribute time judiciously for all subjects.
Other activities -Each of us has hobbies. Spare some time for that. This will help you unwind. It increases productivity. Develop certain hobbies and pursue them. A light game, for instance, or a crossword puzzle. At the same time, know when to stop. Get your priorities right. A student should be physically fit, spiritually sound and mentally alert. Also, spare some time for fitness. You should be strong enough to withstand the stress and strain of hard work. Endurance is important.
Writing -Practise writing. What you read will prove futile if you cannot reproduce it on the D-day.Eligibility testsEligibility tests are conducted by the ICAI to orient students for the exam. But students tend to circulate the question papers among themselves and write only those papers. Such a practice is not advisable. The ICAI requires the students to clear 10 papers to secure the eligibility but does not restrict them from writing more. A student can write as many papers as he wishes to. This will add to his or her confidence. The student should take the eligibility tests seriously. This will help you know your pitfalls.
The final charge -Generally, the pressure valve is turned on only after the candidate pays the examination fees. There is a lot anxiety, nervousness, and tension. If a candidate is well prepared, last minute blues can be avoided. The candidates should learn how to tackle each subject and perform accordingly. One should know which accounts need to be opened and how to reach the goal in the shortest possible route and quickly. Saying that you should pass 36 journal entries for amalgamation, 16 entries for issue of shares, etc., is unjustified. You should learn to play according to the wicket. Passing the CA examination should become a routine, much like other examinations. Passing in the first attempt should be the rule and not an exception.
Notes:-
Undertake mock tests-
1. Try doing practical problems in examination conditions
Try practical problems (solved illustrations) without seeing solutions and then compare answers to evaluate your performance and take steps to remove shortcomings.
2. Note the important catch points which you think are important on a separate paper to revise at the final revision time before the exams.
3. Identify some problems which you want to practice on the last day before exam because it is not possible to revise all the problems on the last day
4. List out what you want to revise on the last day and make sure to revise them
5. For clarifications you may refer to Cost Accounting Text and problems by Dr N.K. Agrawal and study material of the Institute of Chartered Accountants of India.
6.General Guidelines while attempting the paper to get better results.
i. Read full question paper before attempting the answers.
ii. Identify & attempt the question which in your opnion can be done comfortably as your first answer which should be your best attempt.. This will give you confidence and good impression to the examiner.
Divide your time for the questions as per the marks scheme say if the time allotted is 3 hours (i.e 180 minutes) for 100 marks. You need 5-10 minutes to read full question paper, 5-10 minutes to check the answer at the end when you have finished. So time available is say 170-160 minutes for the full paper. So for each mark you have only 1.70 to 1.60 minutes i.e. for 20 marks you have only 34 to 32 minutes. So plan your answers as per time schedule and take care to give each mark its due time. In case you are able to save time on some questions that can be used in other questions.
iii. Get one good calculator and practise on the same calculator; this will make you to comfortably use the calculator and your speed will also increase.

- Chandan Mundhra