How to study CA Final Strategic Cost Management and Performance Evaluation

How to study CA Final Strategic Cost Management and Performance Evaluation

Image Description
Exam Preparation
Image Description
Created By Admin Last Updated Wed, 26-Aug-2020

While you need to study each and every topic, here are the important topics to set your priority:

Decision making, CVP Analysis, Pricing decisions (~25 to 30 marks)

Transfer Pricing (~10 marks)

Standard costing (~8 marks)

Budget (~8 marks)

Transportation, Assignment (~10 marks)

CPA & PERT (~10 marks)

Linear Programming (~8 marks)

·        Before starting your preparation for this subject, revise Cost & Management Accounting and Strategic management. This will help you to understand the concepts for SCM & PE quickly

·        Begin your preparation with the ICAI study material. You cannot skip it at any cost. You have to go through it irrespective of whatever other resources you are referring to

·        Ensure you are thorough with your concepts. Consult a mentor if any topic bugs you. You need conceptual clarity for answering case-based questions.

·        Practice case study/case scenarios well. These have a weightage of around 20% -30% marks and are generally asked to assess contemporary topics

·        The objective of the case study is to apply ideas and insights from theory to real-life situations. Case scenarios are short cases covering a specific area. So, for the case study, you need to give a holistic analysis whereas, for case scenarios, more in-depth analysis is required.

·        Make your own notes with key points for quick revision

·        Make your timetable and fix your daily targets.

·        You need not be a master in all topics but if asked in the examination, you should also not go blank on any topic.

·        Practice sums and questions from the practice manual. Eventually, you must be able to solve the questions without looking at the solutions. Make a note of your strengths and weaknesses

·        Refer to videos wherever you feel stuck.

·        Do go through suggested answers by ICAI. This will help you to understand what is expected in the examination. Try to use a similar way of presentation in the examination.