The Hindu Business Line : Evaluators' eye-view

IN THE general laws and procedures paper of the December 2001 ICSI examination, many of the candidates did not seem to have a grasp of the fundamental concepts, especially in constitutional law, sources of law, interpretation of statutes and the Arbitration and Conciliation Act, 1996. As regards the problem-related queries, the candidates could not cite the relevant provisions of law and, thereby, failed to present the subject matter in a clear and logical way. Also, the writing skills were found wanting and, in many cases, the answers were written illegibly.

Candidates are advised to revamp their strategies. They must study the bare Acts meticulously and spruce up their answers with leading cases. There is a need to improve the way the problem-related questions are answered — for instance, by analysing the provisions of law and giving proper reasoning.

Personnel management and industrial laws: The overall performance was just about satisfactory. Most of the candidates seem to have taken a casual approach, displaying poor communication skills and very few could quote the relevant case laws to support their answers. Most of the candidates wrote a whole lot of irrelevant answers, thus exhibiting a lack of in-depth knowledge.

Candidates must put in a more serious effort, by going through thoroughly the study material, the bare legislation and standard textbooks. Due weightage must be given to analytical presentation. Quoting leading case laws and analysing the relevant legal provisions carefully would help students secure better marks.

Selective study should not be resorted to. Candidates should develop the habit of reading the bare Acts and the study material carefully so that the concepts can be applied while answering the practical questions.

Cost and management accounting: The overall performance was again only satisfactory — a mere 50 per cent of the candidates could secure 40 per cent and above marks.

Being a practical paper, there was ample scope for scoring high marks and improving the overall performance. A poor grasp of the basic concepts and the absence of analytical approach were quite evident.

Lack of practice in solving problems appears to be one of the main reasons for the low marks.

In general, candidates are advised to write to the point. Read the questions thoroughly before attempting them. While preparing for this exam, the candidates must ensure that problem-oriented questions are practised thoroughly. Working notes should be given wherever necessary.

Company law and practice-I: In this paper, the candidates seemed to be unaware of the latest amendments to the Companies Act and SEBI guidelines.

They also did not exhibit the necessary skill for tackling the legal problems. Lack of conceptual clarity, analytical ability and in-depth knowledge were the major shortcomings.

Candidates are advised not to begin answering as soon as the question paper is handed out. One must first get an overall perspective of the paper; this would help one select the questions to be answered.

Candidates should update their knowledge on a regular basis by referring to, besides the Institute's study material, journals on company law, the latest bare Acts and standard textbooks.

Company law and practice-II: This paper is designed to test the analytical ability and theoretical knowledge of the candidates. But the candidates don't seem have put in a serious effort. In fact, they have exhibited a poor knowledge of, among other things, the drafting of resolutions and agenda.

This paper requires the writing of various types of resolutions. Candidates are required to pay attention to correctly explaining the relevant provisions of the Companies Act. The answers should be crisp and to the point. Quoting the sections wrongly must be avoided.

Economic and other legislation: The candidates, in general, failed to express their answers clearly. The answers revealed inadequate preparation and poor reasoning. Relevant sections and case laws were not given in a majority of the answers. The problem-oriented questions were not tackled satisfactorily. Most of answers contained a mere `Yes' or `No', with no case laws to substantiate the response.

This is a high-scoring paper, provided the candidates go through thoroughly the bare Acts, the study material and journals such as Chartered Secretary, Student Company Secretary, and so on.

Company accounts — Theory and practice: The overall performance has been just about satisfactory. In some cases, the answers were not tailored to the requirements of the questions. Consistency was absent in many of the answers. Some candidates exhibited very poor knowledge of the basic provisions of the applicable law. And some did not even show the working notes. Mistakes in calculation, totalling, and so on, were also seen. Many candidates overlooked the figures in the practical questions (which were given in lakhs/thousands), resulting, thereby, in wrong answers.

This being a practical paper, there should be equal focus on both the theoretical and practical aspects.

If one is not sure about the theoretical concepts, solving the practical questions would be difficult. Candidates should concentrate on the study material and the suggested readings. Efforts should be made to work out as many practical problems as possible under examination condition. This will help in scoring higher marks.

(To be concluded)

(Edited excerpts from the Student Company Secretary of the ICSI.)

Send this article to Friends by E-Mail

Stories in this Section
How to keep intruders away

Is AGM holy?

Evaluators' eye-view

Motivate to accumulate

Another bad day at office?