In CMA, the crash course is for subjects with high difficulty levels. The crash course is a single subject coverage with intense training. Subjects like Income tax, law and accounts help students to gain more marks if there is full-fledged effort. This blog provides the learning strategies and goals of the crash course for the upcoming CMA and CA examinations. Students have their styles of learning. The motto of the crash course is to increase the pass percentage of a single subject and the overall total for passing. Direct and indirect Tax laws, financial accounting, costing, and management accounting are the subjects with difficulty in passing covered in the crash course of RR Academy.
Taxation, cost and management accounting, advanced accounting, auditing and assurance are the tough subjects at the CMA intermediate level. These courses are for the CMA students with special attention from the experienced eminent faculties of RR academy. The difficulty level, faculty notes, revision test and model test matter for specialised subjects. The subjects with enormous syllabus coverage and intense understanding require crash courses. Here is a blog to understand the difficulty level and learning strategies from the faculties for the CA and CMA students.
Faculties handling crash course in RR Academy:
Prof. CMA. John. D. Navin, Prof CA CRV prasad, CA.Seetharaman and Dr KNR handle the subjects with time-to-time changes. Teaching the amendments with ample examples make the subject easy. A crash course is for advanced-level tough, and scoring subjects. Taxation law and accountancy require more focus as these are scoring subjects. The difficulty level with these subjects is high as these are the core subjects.
Crash course for taxation:
At the intermediate level, Paper seven is about direct and indirect taxation. In the CMA final level, paper 15 is direct tax laws and international taxation, and paper 19 is indirect tax laws and practices. Taxation law is a combination of law and tax rules. Theoretical knowledge and practical knowledge are the prerequisites for completing these subjects.
The difficulty level of direct, indirect and international taxation:
• GST is the subject under indirect taxation.
• The calculation of the GST amount is as per the transaction and turnover. It helps to understand the GST process.
• While studying vigorously, repetition ends with knowledge retention. Indirect tax is a concept and time-based subject. It is with changes as per amendments.
• Custom duty has more practical problems and less theory part. The valuation, types and warehousing are topics of importance for the intermediate level.
• ITC consists of a theory part and practical questions with amendments. GST eliminates the cascading effects of the tax. It discriminates between the state-level and central-level tax. As per the budget 2022, the changes with ITC are as follows: ITC can be claimed on two dates such as the 30th of November or the date of filing the tax. Sections 38, 42 and 43 are revamped in ITC.
• There are changes in the conditions to claim ITC. The changes in the sections are explained with practical problems by the faculties. A crash course is needed to understand the complexity of the amendments in GST.
• The other chapters are also important. The faculties handling crash courses take the syllabus with an idea of expected questions in the examination. This examination point of view helps the readers with clarity on the subject.
• The direct tax calculations educate the basic concepts, different heads of income and administrative procedures.
• In the direct tax subject, students calculate the salary and tax of income tax payee. Understanding the provisions and working out past papers give clarity to different income structures.
• International taxation explains the valuation of transactions between an Indian company and a foreign company.
• The job that involves international taxation are as follows: profit projection, billing, price calculation of the product or service for the foreign projects and tax liability calculation.
Crash course for accountancy:
At the intermediate level, paper eight is cost accounting. Paper ten is corporate accounting and auditing, and paper 12 is management accounting. In the final level, paper sixteen is strategic cost management. Paper seventeen is the cost and management audit. All these five papers require accountancy and auditing knowledge.
Difficulty in understanding cost accountancy:
• The important topics in cost accounting are as follows: marginal costing, contract, cost sheet, budget, overheads, process accounting, service costing, unit costing, JP and BP, cost accounting system and theory.
• The crash course gives priority to the session and conducts the revisions for more time.
• The advantage of undergoing a crash course is focusing on the main topics and revising more times.
• The faculties analyse the question paper pattern and direct the students to do hard work as per the difficulty level.
• In the intermediate level, under section A, ten marks are for MCQ, 5 mark is for matching the following, five marks are for true or false and five marks are for a fill-up. Under section B, students learn about fifteen-mark questions. Students get practical and theoretical questions.
Conclusion:
The crash course is for crossing the difficult part with repetitive revisions. The revisions are helpful to understand the concept better. One-to-one attention is the secret behind high marks in the CMA course. This attention educates the students for last-moment preparation in the right manner. Commitment towards the subject and the right direction of thinking only makes the difficult subject as easy. The goal of the crash course is the same. Place an enquiry to get details of the crash course framed by RR Academy. The main course is enough for fast learners. The crash course is for slow learners. Through repetitive efforts, one can easily pass the CMA course is the learned lesson that we get to know from the success stories.
