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There are numerous questions running in the mind of CA Students just before exams and all they seek is the right advice and guidance which can help them with overcoming difficulties during exams. Some of the frequently asked questions while planning for exams 1. Whether I should attend a Crash Course of 10-15 Days and get finished with a particular Subject? First things first….there is a new trend where students are believing that joining a 10-15 days crash course for a particular subject will help them overcoming their difficulties in that subject. Well the bitter truth is attending crash courses at such crucial stage is somewhere affecting your other subjects too. We have to accept the fact that not everyone is born with the same brilliant mind, we have our own differences and it’s completely okay. So just because the crash course did worked out for some student doesn’t mean it will work for you too. So decide wisely. A crash course may provide you the road map but ultimately it’s you who have to brush-up with the subjects. So by depending entirely on crash course somewhere you are putting your attempt in jeopardy. No offense to any coaching institutes but students must believe in themselves as they are the ones who are going to attempt the exams. 2. What do you advice how I should build my Study Strategy? How you prepared for your exams? At this stage students tend to take advice from number of people who have gone through the same phase and people do provide advices as per their experiences. You need to stop doing that as you might get confused with different conflicting advices as not all the fingers are meant to be same. Do take advice but not from each and every single person in your group. Take your advice from the right person, someone on whose advice you can completely rely upon. 3. Which author should I refer for which subjects? Students are referring various authors and different sources of materials for practical and theoretical subjects. The study materials and practice manuals of institute are ignored thinking that the level of questions asked in the various authors are far superior than the institute. There are authors with quality Study materials, I do not deny that But then students fail to understand that there is a reason for every question asked in institute material and having extraordinary knowledge of the subject is of no use if you can’t attempt institute’s questions. So instead of putting extra time and effort on author’s book, do make time and refer institute study material and practice manuals along with RTP’s and Past examination questions. 4. With so limited time left should I appear both the groups or should I focus better only on one Group? Students have been in this confusion whether they should go for both groups or attempt only a single group and that’s where all the frustration begins. As different people come up with different opinions, ultimately we are the ones who ends up messing with our future. Students need to understand the fact that nobody can understand their position better than themselves. So evaluate the time left, analyze your strengths and weaknesses, and decide accordingly. Don’t rely on anybody to take your decisions for you. 5.I have been working so hard from the very beginning, I am just done with working any harder, I need a rest for few days, and I’ll cope up with the syllabus after a break of few days. Isn’t it necessary that I should take a break? Revising once, twice or thrice won’t make a difference if you are not in the right state of mind before and during exams. The real game begins 15 days before and 15 days during the exam. No matter how hard you worked if you fumble during this period of 30 days, well then as they say it’s only your luck that might help you clear your exams. This is the reason why it is suggested to have a good night’s sleep of at least 6 hours during exams. But that doesn’t mean you should take a break of few days at such a stage. You have already worked so hard so if you fumble at this stage then all your hard work will be for nothing. There has been instances where people have been on study leave of 6 months and didn’t clear the exams and there has been cases where people with a study leave of only 3 months cleared on their first attempt. Well what was the reason and how he/she cleared in first attempt even having so much less time to prepare. The answer is the “Quality”. Don’t run after quantity such as referring thrice before exams, referring various authors etc. Instead focus on quality even if it’s only study material and practice manuals that you are referring. Wishing all the Students Best of Luck in Advance and hope you all take the right decisions in the end. Blessed Be. All the best wishes from Team FWI
CMA - THE BRAIN BEHIND THE BUSINESS ################################# What is cost and management accounting? Accounting is a business language. We can use this language to communicate financial transactions and their results. Cost accounting and management accounting are two important terms in accounting that are used to control and formulate the organization policies. Both are used for different purposes with different styles. Cost accounting ############ Cost accounting deals with the calculation and assessment of costs and expenses to purchase or produce something. It relates to calculation per unit cost using different costing techniques. Its primary purpose is to facilitate managers in decision making. The main activities of cost accounting are: 1) Budgeting: In cost accounting, various budgets are prepared, showing cost, revenue, profit, production capacity and efficiency of plant and machinery, as well as the efficiency of workers. The budget is planned in a scientific and systematic way that is often unique to the company, as reports are not bound to the principles of Generally Accepted Accounting Principles (GAAP). 2)Classify and break down costs for external reporting and internal profit measurement. Since costs are calculated on a detailed level, identifying profitable and unprofitable items or activities becomes easy. 3) Information on costs and activities may be used as a basis to estimate future costs in preparing and reviewing budget estimates 4)Determine the fees or prices for goods and services: in tough market conditions or in slump periods, costing helps to determine the selling price of the product at the optimum level to be competitive. Management accounting ################## Management accounting relates to the provision of appropriate information for decision-making, planning, cost control and performance evaluation. Management accounting turns data into information, knowledge, and wisdom about a business entity’s operations. This is one step further than cost accounting. Management accounting works to know the reasons of profit or loss and studies the factors which influence efficiency to assist in decision making. Therefore, cause and effect is an important feature of management accounting. Conclusion ######## In short, cost accounting supports management accounting and in turn management accounting pushes cost accounting further according to the needs of the management. ################################################## FWI - THE FINANCE SCHOOL CMA | ACCA ADMISSION CONTINUES FOR THE UPCOMING BATCHES........ FOR ENQUIRY CONTACT : 8330812121 ################################################## #CMA #COST_ACCOUNTING #MANAGEMENT_ACCOUNTING #CMA_TOP_INSTITUTES_IN CALICUT #CMA_LOW_COST_KERALA #CMA_COPE_IN_INDIA #CMA_COACHING #CMA_JOB_OPPORTUNITIES
Management accounting ???? ###################### 1) Reporting to management: It is the primary role of management accounting to inform and advise the management about the latest position of the company. It covers information about the performance of various departments on regular basis to the management which is helpful in taking timely decisions. A management accountant also works in the capacity of an advisor to overcome any existing financial or other problems of an organization. 2) Aid in decision-making: the success of any organization depends upon accurate effective decision-making, which is in turn based on informational networks as provided by management accounting. Applying techniques of differential costing, absorption costing, marginal costing, and management accounting provides useful data to the management to aid in their decision-making. 3) Planning and formulating policies: a management accountant provides necessary and relevant information to achieve the targets of the company. Management accounting uses regression analysis and time series analysis as forecasting techniques. 4) Controlling performance: in order to assure effective control, various techniques are used by a management accountant such as budgetary control, standard costing, management audit, et cetera. Management accounting provides a proper management control system to the management. Reports are provided to the management regarding the effective and efficient use of resources. 5) Interpreting financial statements: collecting and analyzing accounting data is a key role of management accounting. This provides relevant information in a systematic way that can be used by the management in planning and decision-making. Cash flow, fund flow, ratio analysis, trend analysis, and comparative financial statements are the tools normally used in management accounting to interpret and analyze accounting data. 6) Motivating employees: management accounting provides a selection of best alternative methods of doing things. It motivates employees to improve their performance by setting targets and starting incentive schemes. 7) Coordinating among departments: management accounting is helpful in coordinating the departments of an organization by applying thorough functional budgeting and providing reports for the same to the management on a regular basis. 8) Administrating tax: any organization must comply with the tax systems of the country they operate from. It is a challenge due to the ever-increasing complexity of the tax structure. The organization needs to file various kinds of returns with different tax authorities. They need to calculate the correct amount of tax and assure timely deposit of tax. Therefore, the management takes guidance from management accountants to comply with the law of the country. ################################################## FWI - THE FINANCE SCHOOL , CALICUT CMA | ACCA ADMISSION FOR THE UPCOMING BATCHES CONTINUES....... FOR ENQUIRY CONTACT : 8330812121 ################################################# #CMA #CMA_INDIA #CMA_TOP_INSTITUTES_KERALA #CMA_CAOCHING_INSTITUTES_CALICUT #MANAGEMENT_ACCOUNTING #SCOPE_OF_CMA_INDIA #CMA_OPPORTUNITIES #CMA_AS_A_CARRIER
ACCA Training Institute In Calicut, Kerala, India First Word International is a new age, Interdisciplinary institute promoted by a group of professionals having vast industry experience in India and abroad offering a portfolio of professional programs in Finance and Management including Chartered Accounting(CA), ... Cost and Management Accountant(CMA), Association of Chartered certified Accountants (ACCA)UK , Certificate in International Financial Reporting(Cert. IFR)UK and Corporate and entrepreneurial Training as Advanced Diploma in Corporate Financial Management as well as Various Student Empowerment Programs ensuring the right blend of academic rigor and business focus of the industry. Through the industry oriented highly demanding new generation courses, we are offering quality exposure to the enchanting world of the new generation corporate world. Apart from mere education, we are molding professionals to face the challenges in the much competitive future world. The whole idea is to facilitate learning through initiating, exploring and experimenting in a conducive environment. The sincere efforts of our Management Team, in creating a congenial academic environment, conducive to learning on the strength of most modern infrastructural facilities provided by the management and a highly motivated and competent team of faculty constantly endeavoring to mould world-class professionals of the future. We aim at enabling the students to learn about the group behavior, teamwork, group effort and increasing the self-confidence level of the students to a next level and enabling them to approach the studies in a smart way than the conventional hard working approach to the studies. We aim at molding a group of people who can lead the future generation from the front. FWI Management, staff, faculties and students work as a family in order to achieve this goal and hopes that the group synergy can make wonders in the modern era of corporate and technological innovations
Top 10 reasons to study for the ACCA Qualification 1. Comprehensive Comprehensively covers the technical and management skills accountants are expected to master. Refined for 2007, the ACCA Qualification will help achieve the range of competences required in a finance team. The ACCA syllabus is a comprehensive program in financial management skills. The ACCA Qualification takes the candidate to advanced levels in a variety of subjects such as: * Management * Decision Making * Financial Reporting * Financial Strategies The ACCA Qualification is not just theory – the exams are practical case studies. 2. Effective in finding business solutions Organisations benefit from having accountancy professionals who understand the financial needs of business and who can evaluate and present effective business solutions. The qualification equips finance professionals with knowledge and skills which are diverse yet dynamic – the curriculum includes tax, audit and business law as well as the core accountancy subjects. 3. Measure of competence The ACCA combines the benefits of traditional accounting skills with a wide ranging and forward looking syllabus, which recognises that finance professionals are increasingly required to demonstrate strategic thinking, excellent communication skills, people skills and fluency with information technology. 4. Flexible The ACCA Qualification has flexible entry requirements, and offers flexible study options, enabling studies to be planned around business needs. 5. Practical Experience One of the requirements of the ACCA program is practical experience, because the ACCA realises that employers require an increased focus on an individuals workplace performance. 6. Based on International standards The Qualification is based on international accounting and auditing standards and is IFAC compliant 7. Truly Global The ACCA is the only truly global accountancy qualification with members in 170 countries. A global program that tracks the needs of industry and employers. 8. Recognition worldwide The ACCA has achieved strong recognition worldwide by building relationships with influential organisations including: * local and multinational companies * accounting bodies * educational institutions * governments * entities such as the United Nations and the World Bank. 9. Cost-effective A cost effective and efficient way to increase knowledge and professionalism. Candidates not only gain specialist knowledge in finance and accounting, but also acquire valuable skills in organizational management and strategy. It therefore increases the career prospects of the employee and reduces the training costs of the employer. ACCA - Worlds Leading Professional Chartered accounting body. • Recognized in 181+ countries • 8500+ Approved Employers Around the globe • 98 Global Accounting Partnership • 2 Lakhs+ Members • 486000+ Students in 178 Countries 10. Professional status Globally, employers and business partners understand and respect the qualification. ACCA members are in demand for their finance and accounting knowledge and skills worldwide. The ACCA qualification is a passport to a new world of opportunity – once you become a member, the learning process continues throughout your career. The range of educational opportunities includes a degree qualification, a specifically tailored MBA and a constantly updated range of courses in all areas of finance and management. Why First Word International - FWI? • World Class Infrastructure • ACCA Trained Faculties • Oxford Brookes (BSc Hons) RAP Mentoring facility • Fees Exclusively @ 2.6 Lakhs only (₹2, 60, 000.00) Including ACCA Registration Fees, 3 year Annual Subscription Fees, Admission Fees, 13 Paper One Time exam Fee, 13 paper Coaching Fee, E-Materials, and GST ISDC Direct is a Learning center network in collaboration with ACCA for India to attain ACCA Qualification upon Uniform norms, Quality, Standards and ut-most affordable cost. First World International is one and only Approved Learning Partner Of ACCA in Calicut. Awarded Gold Status in recognition of the quality of learning provision and support for ACCA Students. So why wait…Join the ACCA family and gear up to lead the Corporate World. Contact : +91 833 08 12121 / +91 9633099760 FWI The Finance School 6th floor, Arya Vaidya Sala Building Kallai Road, Calicut.
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