Analysis of Certified Copies CA Final- New AIR 43 (July 2021) (2/2)

Subject	Study Resource	Paper	Analysis
FR (69/100)	1)Financial Instrument, Business Combination, Consolidation- Bhavik Choksi Sir's Class Notes 2)All Other Chapters from ICAI Module	FR Paper was entirely from Module but very lengthy	1)FR is the First Paper. So give 5-6 days for FR preparation 2) Answer format must be same as ICAI Module format. I have lost most of the marks because of this. For instance: I have written answer in paragraph form while module has tabular (1.5/5 in Q-6(a)) (First Question in Certified Copy) 3)Read the Question very carefully. Do not assume it is same as module question and start solving. I made this mistake in consolidation sum. There was a change in Date of Acquisition in Exam question while I assumed DOA was the same as given in module question. (8/16 in Q-1) (Last question in certified copy)
SFM (85/100)	1)JKSC Text book   2)ICAI Module for sums new sums   3)ICAI Module for Theory   Focus on Chapter 1,2,3,6,14 for theory (ICAI Module)   Do last few pages of Mutual Fund for theory (Module)	SFM Paper was entirely from Module   (It was one of the easiest papers in recent attempts)	1)Read the Question very carefully I made a mistake by taking no. of months rather than no. of days in a calculation 2)Answer format must be same as ICAI Module format. For instance, my answer to Q-1(a) is almost matching to suggested however I had taken savings due to working capital in later steps while in module it was taken in first step. (I got 0/8) (Last question in certified copy)
Audit (57/100)	1)For SA's, Professional Ethics, Companies Act - Pankaj Garg   2)For Audit of Insurance, Audit under fiscal law- Pankaj Garg   3)Remaining Chapters- Module   4)For MCQ's- ICAI MCQ Booklet    5)For Q&A- Pankaj Garg Scanner 6)Special Focus on module back questions	Audit was a tricky and Out-of-box paper   All SA Questions were new   2-3 questions from module back questions MCQ's were easy	1) Break up of Marks (70 marks) Professional Ethics- 7/12 SA- 6/25 Others- 15/33 Total- 28/70  The reason for giving break-up is to highlight importance of doing other chapters as SA's were difficult for everyone this attempt. 2) SA- There is one mark allotted for correct SA reference 3) Ethics- Flow of Answer- Reference, Provision, Understanding of Provision in own words, Case, Correlate, Conclusion There is 1 mark each for correct reference and conclusion 4) There will surely be 2-3 questions straight away from module back questions. Try to score maximum in these. 5) Follow module language strictly-the points I had written were in my own language and meant the same as points in suggested answer but not awarded marks(For Instance Q-4c given only 1/5)
Law (68/100)	1)For Company Law- JKSC Textbook and Classes Notes   2)For SEBI and Other Laws- Module   3)For MCQ's- ICAI MCQ Booklet	Lengthy and Above average paper   Most of them were new questions   MCQ's were easy	1)Ensure the study resource you follow has ICAI answers.
SCMPE (53/100)	1)ICAI Module and ICAI Case Study Digest.	Very lengthy   I found almost all questions new   The sums asked in exam were very tricky having alternate solutions.   The ICAI in its suggested answers has considered alternate solutions.	1) Break up of marks Practical- 32/42 Practical Sum could not attempt- 0/10 Theory- 12.5/28 Case Study- 5.5/20 Total- 50/100 2) It appears it is very difficult to score in theory questions and case study. I would recommend putting more focus on practical 3) As far as SCMPE is concerned, if your final answer is correct, you are awarded full marks irrespective of method of solving. 4) I would advise solving case study question at the end. Do not even read it during reading time. 5) There will be a question which will have 2 questions of 5 marks each. Try to attempt it first as they are easy and save time.
Elective (GFRS) (66/100)	1)FR Modules   2) GFRS Material provided by Bhavik Choksi Sir   3) ICAI Case Study digest	I found my elective to be above average	1)There are no special tips for Elective. 2) You must start with your Paper 7- DT preparation after giving your SCMPE paper. (Would advise to do international tax for 5-6 hours after coming home) 3) One entire day and morning before exam is more than sufficient for elective preparation
DT (68/100)	1)Running Notes made during attending classes   2) Atul Agarwal Question Bank   3)For MCQ's- ICAI MCQ Booklet	DT paper was easy   MCQ's were very difficult	1)You have to cover entire DT from MCQ point of view. 2) Focus chapters– PGBP, TDS/TCS/recovery of tax/ Assessment of various entities/ Transfer Pricing/ NR Taxation/ DTAA (incl deductions)/ Charitable Trust/ Penalty and Prosecution/ All Recent amendments 3)Put more emphasis on writing detailed notes.
IDT (71/100)	1)Yashwant Mangal Text book and Questionnaire   2)For MCQ's- ICAI MCQ Booklet	IDT paper was average   MCQ's were average	1)You must write valid/ invalid or correct/incorrect as asked in question at the start itself and then give answer For Instance, In Q-5(b) my answer matches with Suggested. However, I have not been awarded full marks and given 2.5/4 2)Precision is required In Q-5(C)(ii)- I have written there is delay of 124 days and calculated interest as Rs. 509 accordingly. Suggested answer states there is delay of 123 days and interest is Rs.505 I have been awarded 0.5/2 3)For Question No. 1 write detailed notes as your final answer is likely to be wrong   The checking seems to be harsh as I am not able to analyze why 0.5/ 1 mark deducted in most of questions.