#CA Final SCMPE Preparation Strategy

[himanshikumar123]

CA Final Costing Old & New Course

Preparation Strategies for students who are transiting from CA Final Costing Old course to CA Final Costing New Course

This article is all about the myths & confusions of CA Final Old Course Students who are transiting from old courses to a new course. There is a lot of confusion going around in the minds of students who appeared for the CA Final Old course, as this is the last attempt and students have doubts regarding how to start the studies & how to proceed with the course with what all the similar topics of new course & Old course, etc.

As your results are awaited, you can start your studies with CA Final Direct Tax & CA Final InDirect Tax, as you can utilize this period for studies. If you are fortunate in your exams(which should really be in your case), then this knowledge will help you in your further interviews. If you are amongst the unfortunate ones(which we really don’t want you to be in), then the best thing is that you have already started with the new course studies.

For selection from Elective paper, Economic laws & International Taxation can be selected soon after the result. Why do old course students select these courses? Because 80% of the course of Elective paper- economic law is similar to CA Final law and International Taxation is also available in the old course syllabus. So if Old course students choose these elective papers then, then will need less time to study this part of course.

There is a lot of confusion & myths going around regarding AMA & SCMPE syllabus. So let us first discuss the same in the form of Questions & answers:

Q.1- What is the difference between CA final Costing Old Course syllabus & the CA fInal New Course syllabus?

The New Syllabus of CA Final Costing (SCMPE) is entirely different from AMA. It is much more analytical, unlike AMA which has direct questions which makes SCMPE more difficult to score marks. It is the only subject that has been changed by the ICAI extraordinarily from its old syllabus to the new syllabus. This course will teach you how to manage and run a business. Every organization has to plan and evaluate its cost management processes. With the use of a CA Final Costing (SCMPE) studied in this curriculum, you may handle the difficulties and offer management suggestions or guidance. Different SCMPE models will provide you with a roadmap / a sense of ownership that will aid us in managing the firm in a new tough job. Understanding a different company model will widen our minds and supply us with the knowledge that will help us establish a competitive advantage.

Let us have a glimpse of changes between CA fInal Old Course & CA Final New Course.

The major focus shall be on the subjective/conceptual part of the syllabus.

Basics of Decision making including linear programming(Basics of Graphical & simplex, and its alternatives). Application of linear programming & solving is part of the syllabus. This part weightage in CA Final Costing New Course(SCMPE)  is less as compared to AMA(CA Final Costing Old Course)

     B. Transfer pricing- Mostly subjective topics are asked.      C. Activity Based Costing, Pricing Decision, Standard costing- Types of questions are totally different as compared to AMA. These topics are taken up at an advanced level, so these topics are considered as a new topic in the New Course.

      D. Case study & case scenario- This is a totally new part of the syllabus.

          Around 40-50% marks are covered in Case Study & Case Scenarios.

The format or pattern to express your replies is what you need to know while writing answers to case study-based questions. That’s all there is to it.

 Q.2- Do we need to refer to the PM of Old course/ books of Old course costing in CA  Final New Course?

No, students are advised to just follow new course books & study material. You can go through Parag sir’s self-study books for New Course studies.

Let us have more insights through Parag sir’s video where he has discussed the difficulties/ confusions transiting students(from Old course to New Course) are facing.

SCMPE Paper Pattern:

~Subjective paper pattern

~100 marks questions were asked in all.

~Time allotted for the exam: 3 hours

~6 questions are asked in total.

About CA Final Exam Pattern –

Under both the old and new syllabus, the CA Final exam consists of 8 papers. And these papers are split into two groups of four papers each. However, the new syllabus involves an elective open book exam.

Some points to Remember:-

> You should take classes from the best & experienced faculty because this subject is based on concept clarity & only the best teachers can give you such clarity.

>It would be great for students to seek advice from only experienced & trustworthy students who have already taken classes from teachers & have appeared for exams. Trustworthy means that you know that student personally, as there are lots of fake profiles present in social media who are misguiding students & promoting the faculties in a wrong manner.

[stargate-education]

CA FINAL SCMPE PREPARATION STRATEGY

To start with the CA Final SCMPE Preparation Strategy, firstly you can revise the concepts of Cost and Management Accounting (CMA), and Strategic Management (SM) studied by you at the CA-Intermediate Level. It will help you clear your base and understand the subject more deeply. Thereafter, you can either go for self-study or can take classes from the best faculty, because in this subject, some tricky case studies are asked which can be tackled only when the subject is understood deeply under proper guidance. However, proper revision of all the concepts and important questions should be done. The first option will take you approximately 400-500 hours while the second option will take approximately 350-400 hours. The following tips must be considered while studying and revising this subject:

Watch video lectures with appropriate validity and views such as 1.5 or 2 to help you revise the important concepts and important questions.

Be regular with your classes, even though you are studying at home.

Make proper short notes which you can revise from time to time or buy a Revisionary Pocket Book.

Buy the video lectures and the books which cover ICAI study material, Practice Manual, RTPs, MTPs, Past Year Papers, and a lot of Case Studies.

Solve as many questions as possible, especially case studies. This will improve your speed and presentation.

While revising the subject, fix daily targets and give time to each topic as per the length and weightage.

Make sure that you solve the latest RTPs, MTPs, and past year papers of ICAI.

Solve 2-3 papers in time and get them checked to see your mistakes.

One day before the exam:

Revise the concepts thoroughly from short notes or Pocket Book,

See the important and tricky questions., and

Don’t touch any new topic.

DURING THE EXAM – CA Final SCMPE Preparation Strategy also includes the tips to be followed at the time of giving the exam. When the invigilator hands you the paper, have confidence in yourself and your preparation and follow the given tips:

In the first 15 minutes (reading time), read all the questions and choose the question which you will leave in option.

Prioritize the other questions in order of the confidence you have in them.

Try to avoid cutting on the first two pages of the answer sheet.

If you are stuck anywhere, don’t waste time on it. Move ahead with the next question.

Don’t leave any answer blank. Write whatever you know about the concept.

While answering case studies:

Prepare a plan for each issue and decide what models to use.

Identify alternative actions which could be taken.

Give a detailed analysis of the issue.

Conclude with recommendations. It should include what, why and how. By following the above Preparation Strategy, you will be able to score extraordinarily good in this paper. Also, try to enhance your knowledge during article ship as well. And, always remember the key mantra of success – “Plan your work and work your plan.” Now you know how to prepare for this subject but it is equally important to know the objectives of this subject. Why was it introduced in place of Advanced Management Accounting (AMA) in the Old Course? How will it help you in your professional life? SCMPE has two parts – SCM & PE. It is an advanced study into the subjects of CMA and SM which you study at your CA-Intermediate Level. The main objectives of SCMPE are as follows: • To apply various cost management techniques for planning and controlling performance in order to set, monitor and control strategic objectives. • To develop skills of analysis, synthesis and evaluation in cost management to address challenges and issues which might affect or influence the management of performance within organizations. This course replaced the AMA Paper to enlarge the scope of study in the following way: • Introduction of case studies. • New practical topics related to cost management in agriculture, IT and power sector. • Shifting of ABC to an advanced level. • Addition of sensitivity analysis questions in pricing decision. After reading the importance of this subject, we believe you will have more interest in learning it now. All the best!

[sbtstudybytech]

CA Final Costing Old & New Course

Preparation Strategies for students who are transiting from CA Final Costing Old course to CA Final Costing New Course

This article is all about the myths & confusions of CA Final Old Course Students who are transiting from old courses to a new course. There is a lot of confusion going around in the minds of students who appeared for the CA Final Old course, as this is the last attempt and students have doubts regarding how to start the studies & how to proceed with the course with what all the similar topics of new course & Old course, etc.

As your results are awaited, you can start your studies with CA Final Direct Tax & CA Final InDirect Tax, as you can utilize this period for studies. If you are fortunate in your exams(which should really be in your case), then this knowledge will help you in your further interviews. If you are amongst the unfortunate ones(which we really don’t want you to be in), then the best thing is that you have already started with the new course studies.

For selection from Elective paper, Economic laws & International Taxation can be selected soon after the result. Why do old course students select these courses? Because 80% of the course of Elective paper- economic law is similar to CA Final law and International Taxation is also available in the old course syllabus. So if Old course students choose these elective papers then, then will need less time to study this part of course.

There is a lot of confusion & myths going around regarding AMA & SCMPE syllabus. So let us first discuss the same in the form of Questions & answers:

Q.1- What is the difference between CA final Costing Old Course syllabus & the CA fInal New Course syllabus?

The New Syllabus of CA Final Costing (SCMPE) is entirely different from AMA. It is much more analytical, unlike AMA which has direct questions which makes SCMPE more difficult to score marks. It is the only subject that has been changed by the ICAI extraordinarily from its old syllabus to the new syllabus. This course will teach you how to manage and run a business. Every organization has to plan and evaluate its cost management processes. With the use of a CA Final Costing (SCMPE) studied in this curriculum, you may handle the difficulties and offer management suggestions or guidance. Different SCMPE models will provide you with a roadmap / a sense of ownership that will aid us in managing the firm in a new tough job. Understanding a different company model will widen our minds and supply us with the knowledge that will help us establish a competitive advantage.

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