CA BLASTERS

If you just try what you think you can do, you will never be able to discover your true potential.🕵‍♀

Take a look at Financial Reporting Review Board (FRRB) (@frrbicai): https://x.com/frrbicai?t=rfhRkx3xEtirlzFk7Y-gog&s=08 Please follow share and like

Revision strategy for last 15 days would be to take 2 days each subject to revise all the important and difficult topics. It will help you with your last day revision especially.

Will suggest to read once you might get your motivation to fight your fear !

Feeling nervous before exams is completely normal, as is experiencing moments of forgetfulness due to the pressure. We all go through the same feelings of isolation and fear because competitive exams can be daunting. However, what truly matters is believing in your preparation. I can attest to this firsthand—I failed attempts where the passing percentage was atleast around 8-10%(Both Groups), but succeeded when it dropped to less than 2% (Both Groups). So, trust in yourself because no one else can do it for you.

Hows the preparation going on just last few days left??

Hey there, my friends! 🌟 Don't get discouraged if you can't meet all your goals. Take a moment to breathe and remind yourself that giving your best effort is still an incredible achievement. 💪🏼 Consistency is indeed the key to success. It's normal to stumble and not quite reach your desired objectives at first. 🚶🏻‍♂️💥 But always remember that every mistake holds valuable lessons for learning and personal growth. 📚🌱 Embrace those setbacks as opportunities to improve and become even better. With this positive mindset, nothing can stand in your way when it comes to achieving greatness in life. 🙌🏼🌟 Stay motivated, keep pushing forward, and believe in yourself. You have the power to overcome any challenge that comes your way. 💥🔥 You've got this! 💪🏼🌟👊🏼

One more point to add up Make sure u cover atleast this much 1. study material all examples and questions 2. Last 6 attempts papers for topics which were common. 3. Current attempt MTP and RTP

If you need any help you can dm me at @varshanayyar

1.Full Syllabus Coverage •Avoid leaving out topics based on ABC analysis. Instead, use it to allocate time effectively. •For weak subjects, aim to cover at least 80% of the syllabus based on ease and topic length. 2.Set Achievable Targets Set realistic targets to avoid overwhelming yourself. One thorough revision can be more beneficial than rushing through. 3.Study Strategy •Divide your syllabus into manageable segments for each subject. •Sample Study Timeline: a)March 26th - April 6th: Strategic Financial Management (SFM) and Audit b)April 7th - April 18th: Financial Reporting (FR) and Indirect Tax (IDT) c)April 19th - April 25th: Direct Taxation (DT) Daily Schedule: 6:00 AM: Wake up 6:30 AM - 9:00 AM: Study Session 1 (Theory) 9:00 AM - 9:40 AM: Breakfast break 9:40 AM - 1:40 PM: Study Session 2 (Practical) 1:40 PM - 3:20 PM: Break with lunch or relaxation 3:20 PM - 6:20 PM: Study Session 3 (Practical) 6:20 PM - 7:20 PM: Break or leisure time 7:20 PM - 10:00 PM: Study Session 4 (Theory) 10:00 PM - 11:00 PM: Free time (me-time) 4.Active Recall Approach Utilize active recall to enhance memory retention: •Read a short section. •Close your eyes and try to recall the information. •Incorporate weekly revisions for theory subjects to reinforce learning. Remember, it's not just about the number of hours you study but the quality of your study sessions. Stay focused and consistent in your efforts. Good luck with your exams!

*Step 2: Identify the performance obligations* *Identifying performance obligations* At contract inception, an entity shall assess the goods or services promised in a contract with a customer and shall identify as a performance obligation each promise to transfer to the customer either: (a) a *good or service (or a bundle of goods or services) that is distinct.* *Example:* A telecommunications company signs a contract with a customer to provide internet service and a set-top box for television streaming. The internet service and set-top box are distinct goods/services, so they are identified as separate performance obligations. (b) a *series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer.* A magazine publisher sells a subscription to a monthly magazine for a year. Each monthly issue of the magazine is substantially the same and delivered following the same pattern, so they are identified as a series of distinct performance obligations. *Satisfaction of performance obligations* An entity shall recognise revenue when (or as) the entity satisfies a performance obligation by transferring a promised good or service (ie an asset) to a customer. An asset is transferred when (or as) the customer obtains control of that asset. *Example* : A furniture store sells a dining table to a customer. Revenue is recognized when the customer takes delivery of the table and control over the asset is transferred to the customer.

Stay dedicated and focused on your studies, utilizing every moment available to you. With 40 days of disciplined and organized preparation, success in your exams is within reach. Minimize distractions by limiting your time on social media platforms. Reject any notions of exam extensions, as dwelling on such possibilities only wastes precious time and leads to regret. Embrace proactive studying; you have ample time to excel in at least 3 out of 6 exams. Keep pushing forward with determination and belief in your abilities. Victory awaits those who persist.

Please start studying now 40 days approx are left for exams Avoid social media as much as possible

ICAI BoS https://boslive.icai.org/sm_chapter_details.php?p_id=18&m_id=74

📝 *Step 1: Identify the contract with the customer as per Ind AS 115* Ind AS 115 requires an entity to account for a contract with a customer when all the following criteria are met: (a) The *parties have approved (in writing, orally, or in accordance with other customary business practices)* the contract and are committed to performing their contractual obligations. 🔍 Example: A freelance graphic designer and a client exchange emails outlining the terms of a logo design project. (b) The entity can *identify each party's rights regarding the goods or services* to be transferred. 📋 Example: A software development firm signs a contract with a client to develop a custom software solution. The contract specifies the features and functionalities the client will receive upon completion. (c) The entity can *identify the payment terms for the goods or services* to be transferred. 💰 Example: A catering service agrees with a corporate client to provide catering for their annual conference. The contract outlines that the client will pay 50% of the total amount upon signing and the remaining 50% upon completion of the event. (d) The *contract has commercial substance* (i.e., the risk, timing, or amount of the entity's future cash flows is expected to change as a result of the contract) Contract should have economic consequances. 💼 Example: An advertising agency signs a contract with a multinational corporation to create a global marketing campaign. This contract significantly impacts the agency's revenue and cash flow projections for the year. (e) It is *probable that the entity will collect substantially all of the consideration* to which it expects to be entitled in exchange for the goods or services that will be transferred to the customer. 💳 Example: A subscription-based streaming service offers a free trial period to new customers. However, the company carefully assesses the creditworthiness of subscribers before offering the trial to ensure a high probability of collecting subscription fees once the trial period ends. These examples illustrate how each criterion of contract identification under Ind AS 115 is applied in real-world scenarios.

Dividend Terminologies as per the Companies Act’2013* “Dividend” means a distribution of any sums to Members out of profits and wherever permitted out of free reserves available for the purpose. “Final Dividend” means the Dividend recommended by the Board of Directors and declared by the Members at an Annual General Meeting “Interim Dividend” means the Dividend declared by the Board of Directors during any financial year or at any time during the period from the closure of the financial year till the holding of the annual general meeting. “Unpaid dividend” is a dividend that has been declared by a company but has not been paid or claimed within thirty days from the date of the declaration to any shareholder entitled to the payment of the dividend then the company shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid to Unpaid Dividend Account. Follow the "Unlocking Secrets of Financial Reporting with Varsha" channel on WhatsApp: https://whatsapp.com/channel/0029VaJtnLlGehEQhSNtrY0B