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Kirill Dmitriev
Kirill Dmitriev

Learn and Revise Accounting Standards Effectively with Paduka Books for CA Final



Paduka Books for CA Final Accounting Standards: A Comprehensive Guide




If you are preparing for the CA Final exam, you know how important it is to master the accounting standards. Accounting standards are the rules and principles that govern the preparation and presentation of financial statements. They are essential for ensuring consistency, comparability and reliability of financial information.




Paduka Books For Ca Final Accounting Standardsl



But how do you learn and revise the accounting standards effectively? How do you solve the complex and tricky questions that test your conceptual understanding and application skills? How do you score high marks in the exam and achieve your dream of becoming a chartered accountant?


The answer is simple: you need a good book that covers the accounting standards in a comprehensive and exam-oriented manner. And one such book is Paduka Books for CA Final Accounting Standards.


Introduction




What are Paduka Books?




Paduka Books are a series of books written by CA G. Sekar and CA B. Saravana Prasath, who are renowned authors and experts in the field of accounting and auditing. They have more than 20 years of experience in teaching and mentoring CA students across India.


Paduka Books are published by Commercial Law Publishers (India) Pvt. Ltd., which is a leading publisher of professional books for CA, CS, CMA and other courses. Paduka Books are known for their quality, accuracy and relevance to the exam syllabus.


What are CA Final Accounting Standards?




CA Final Accounting Standards are a set of 32 standards that deal with various aspects of accounting, such as revenue recognition, depreciation, inventory valuation, leases, financial instruments, consolidation, foreign exchange transactions, etc.


CA Final Accounting Standards are based on the Indian Accounting Standards (Ind AS), which are converged with the International Financial Reporting Standards (IFRS). Ind AS are applicable to all companies in India from April 1, 2016 onwards.


CA Final Accounting Standards are part of the Financial Reporting paper (Paper 1) of Group I of the CA Final exam. The paper carries 100 marks and has a duration of 3 hours. The paper consists of two sections: Section A (70 marks) covers accounting standards and other topics related to financial reporting, while Section B (30 marks) covers corporate financial reporting issues and case studies.


Why choose Paduka Books for CA Final Accounting Standards?




Paduka Books for CA Final Accounting Standards are one of the best books available in the market for preparing for this subject. Here are some reasons why you should choose Paduka Books for CA Final Accounting Standards:


  • They cover the entire syllabus of accounting standards as per the latest exam pattern and guidelines issued by the Institute of Chartered Accountants of India (ICAI).



  • They provide a clear and concise explanation of each accounting standard with examples, illustrations, diagrams and charts to help you understand the concepts and logic behind them.



  • They include the past exam questions and revision test papers (RTP) of accounting standards along with their detailed solutions and analysis to help you practice and assess your performance.



  • They offer a variety of theory and practical questions with step-by-step solutions and working notes to help you improve your problem-solving skills and accuracy.



  • They provide a fast track referencer and summary charts at the end of each chapter to help you revise the key points and formulas quickly and easily.



Features of Paduka Books for CA Final Accounting Standards




Updated syllabus and exam-oriented approach




Paduka Books for CA Final Accounting Standards are updated as per the latest syllabus and exam pattern of the CA Final exam. They follow the exam-oriented approach by focusing on the topics that are most important and relevant for the exam.


Paduka Books for CA Final Accounting Standards also incorporate the latest amendments, notifications, circulars and pronouncements issued by the ICAI, the Ministry of Corporate Affairs (MCA) and other regulatory bodies related to accounting standards.


Paduka Books for CA Final Accounting Standards also reflect the latest trends and changes in the exam pattern and question style. They provide tips, tricks, techniques and strategies to help you tackle the exam questions effectively and efficiently.


Past exam questions and revision test papers covered




Paduka Books for CA Final Accounting Standards cover the past exam questions and revision test papers (RTP) of accounting standards from May 2010 to November 2020. They provide the detailed solutions and analysis of these questions to help you understand the examiner's expectations and approach.


Paduka Books for CA Final Accounting Standards also highlight the important, frequently asked and tricky questions from the past exams and RTPs. They also indicate the marks allotted to each question to help you manage your time and prioritize your topics accordingly.


Theory and practical questions with detailed solutions




Paduka Books for CA Final Accounting Standards provide a comprehensive collection of theory and practical questions on accounting standards. These questions are designed to test your conceptual understanding, application skills, analytical ability and presentation skills.


Paduka Books for CA Final Accounting Standards provide the detailed solutions and working notes for each question. They also explain the logic, rationale and assumptions behind each solution. They also show the alternative methods, if any, to solve the same question.


Fast track referencer and summary charts for quick revision




Paduka Books for CA Final Accounting Standards provide a fast track referencer at the end of each chapter. The fast track referencer is a concise summary of the main points, formulas, rules, exceptions, disclosures and illustrations of each accounting standard. It helps you revise the chapter quickly and easily.


Paduka Books for CA Final Accounting Standards also provide summary charts at the end of each chapter. The summary charts are graphical representations of the key concepts, processes, steps, formats and examples of each accounting standard. They help you visualize and memorize the chapter effectively.


How to use Paduka Books for CA Final Accounting Standards effectively?




Plan your study schedule and set goals




The first step to use Paduka Books for CA Final Accounting Standards effectively is to plan your study schedule and set goals. You should allocate sufficient time for studying accounting standards as they are one of the most important topics in the Financial Reporting paper.


You should also set realistic and achievable goals for each day, week and month. You should track your progress and evaluate your performance regularly. You should also reward yourself for achieving your goals and motivate yourself to keep going.


Read the concepts and understand the logic




The second step to use Paduka Books for CA Final Accounting Standards effectively is to read the concepts and understand the logic behind them. You should not just memorize the accounting standards but try to comprehend their meaning, purpose, scope, applicability and implications.


You should also relate the accounting standards to real-life situations and examples. You should use diagrams, charts, illustrations and mnemonics to aid your learning process. You should also make notes, summaries and flashcards to reinforce your learning.


Solve the questions and check your answers




The third step to use Paduka Books for CA Final Accounting Standards effectively is to solve the questions and check your answers. You should practice as many questions as possible from Paduka Books as well as from other sources such as mock tests, previous year papers, RTPs, etc.


You should also check your answers with the solutions provided in Paduka Books or other reliable sources. You should identify your mistakes, errors, doubts and weaknesses and work on them. You should also learn from your mistakes and avoid repeating them in the future.


Revise the topics and practice mock tests




The fourth and final step to use Paduka Books for CA Final Accounting Standards effectively is to revise the topics and practice mock tests. You should revise the topics regularly and thoroughly using the fast track referencer and summary charts provided in Paduka Books.


You should also practice mock tests under exam conditions to simulate the real exam scenario. You should attempt the mock tests from Paduka Books as well as from other sources such as ICAI, coaching institutes, online platforms, etc. You should check your answers and evaluate your performance after each mock test.


Conclusion




Summary of the main points




In this article, we have discussed Paduka Books for CA Final Accounting Standards and how they can help you prepare for this subject effectively. We have seen that Paduka Books are:


  • Updated as per the latest syllabus and exam pattern of CA Final exam.



  • Covering the past exam questions and revision test papers of accounting standards.



  • Providing a clear and concise explanation of each accounting standard with examples, illustrations, diagrams and charts.



  • Offering a variety of theory and practical questions with detailed solutions and working notes.



  • Providing a fast track referencer and summary charts for quick revision.



Call to action and final tips




If you are looking for a comprehensive and exam-oriented book for CA Final Accounting Standards, you should definitely consider Paduka Books. They will help you master the accounting standards and score high marks in the exam.


To order Paduka Books for CA Final Accounting Standards online, you can visit Amazon.in or other e-commerce websites. You can also visit your nearest book store or contact Commercial Law Publishers (India) Pvt. Ltd. directly.


To use Paduka Books for CA Final Accounting Standards effectively, you should follow these four steps:


  • Plan your study schedule and set goals.



  • Read the concepts and understand the logic.



  • Solve the questions and check your answers.



  • Revise the topics and practice mock tests.



We hope this article has helped you understand Paduka Books for CA Final Accounting Standards better and how to use them effectively. We wish you all the best for your CA Final exam preparation and success.


FAQs





  • What are the benefits of studying accounting standards?



Studying accounting standards can help you:


  • Prepare and present financial statements in a consistent, comparable and reliable manner.



  • Comply with the legal and regulatory requirements of accounting and reporting.



  • Enhance your knowledge and skills in accounting and financial reporting.



  • Improve your career prospects and opportunities as a chartered accountant.



  • How many accounting standards are there in CA Final syllabus?



There are 32 accounting standards in CA Final syllabus. They are:



S.No.Name of Accounting Standard


1AS 1: Disclosure of Accounting Policies


2AS 2: Valuation of Inventories


3AS 3: Cash Flow Statements


4AS 4: Contingencies and Events Occurring After the Balance Sheet Date


5AS 5: Net Profit or Loss for the Period, Prior Period Items and Changes in Accounting Policies


6AS 7: Construction Contracts (Revised)


7AS 9: Revenue Recognition


8AS 10: Property, Plant and Equipment (Revised)


9AS 11: The Effects of Changes in Foreign Exchange Rates (Revised)


10AS 12: Accounting for Government Grants


11AS 13: Accounting for Investments


12AS 14: Accounting for Amalgamations


13AS 15: Employee Benefits (Revised)


14AS 16: Borrowing Costs


15AS 17: Segment Reporting


16AS 18: Related Party Disclosures


17AS 19: Leases


18AS 20: Earnings Per Share


19AS 21: Consolidated Financial Statements


20AS 22: Accounting for Taxes on Income


21AS 23: Accounting for Investments in Associates in Consolidated Financial Statements


22AS 24: Discontinuing Operations


23AS 25: Interim Financial Reporting


24AS 26: Intangible Assets


25AS 27: Financial Reporting of Interests in Joint Ventures


26AS 28: Impairment of Assets


27AS 29: Provisions, Contingent Liabilities and Contingent Assets


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