Law being purely theoretical can be quite dry and cumbersome to learn on a daily basis.
A monotonous preparation can contribute largely towards depreciating your marks. Therefore, it is very important to develop and adhere to a well-structured strategy to crack the executive level of one of the most difficult professional courses.
This article will help you gain a deep insight on developing the right approach of preparing for CS Executive. So, if you are clueless about where to start and how to start, you have come to the right place.
Cracking CS Executive comes with a few simple pre-requisites like:
Preparing well and thoroughly understanding the concepts.
Studying consistently and sticking to the time-table.
Preparing revision notes.
Focusing on presentation skills and more.
The institute study material must be your primary reference point. Read and practice the study material thoroughly until you are affirmative of your strong concept base.
Make your revisions easier by organising your content in the way comfortable for you. You can use bullet points, post-its, highlighters etc to make important concepts stand out of the vast syllabus.
For practical subjects, prepare a mistake book where you can write down all the mistakes that you have committed while attempting a question. Mark all the questions along with the problems you faced while attempting.
While reading theory subject, rather than doing plain reading, draw charts and make summaries so that everything can be recalled just by having a look at it.
Before picking up any chapter, figure out the weightage & the important areas of it.
Amendments in law are always considered important from the exam viewpoint.
Module 1 (4 papers)
1.Jurisprudence, Interpretation & General Laws
3.Setting up of Business Entities and Closure
Module 2 (4 papers)
1.Corporate & Management Accounting
2.Securities Laws & Capital Markets
3. Economic, Business and Commercial Laws
4. Financial and Strategic Management
PAPER 1: JURISPRUDENCE, INTERPRETATION, & GENERAL LAWS
This paper consists of three components, namely Jurisprudence, Interpretation and General Laws.
Jurisprudence is the study of the science of law. The study of law in jurisprudence is not about any particular statute or a rule but of law in general, its concepts, its principles and the philosophies underpinning it.
The primary object of the interpretation is to discover the true intention of the Legislature. The necessity of interpretation arises where the language of a statutory provision is ambiguous, not clear or where two views are possible or where the provision gives a different meaning defeating the object of the statute.
The General Laws is an important pre-requisite for professional course like Company Secretary. Constitutional Law that deals with powers, functions and responsibilities of various organs of the State; Administrative law deals with day to day governance mechanism and Civil and Criminal Procedure Code, Right to Information Act, 2005 etc., spreads into approximately every phase of modern life.
Paper 1 consists of these 3 sections which is easy to interpret and understand.
In fact, it acts as the base on which the complex structure of law must be built on.
Hence, you should not study this paper from an exam-oriented perspective, but from a future-oriented perspective.
PAPER 2: COMPANY LAW
Behind every drafted law, there is logic. Try to understand why the provision exists. This helps to increase analytical skills and to build a strong base.
In view of increasing emphasis on adherence to norms of good corporate governance, Company Law assumes an added importance in a CS student’s life.
It deals with structure, management, administration and conduct of affairs of Companies.
Paper on Company Law is divided into three parts:- Part I deals with Company Law, Principles & Concepts, Part II deals with Company Administration and Meetings – Law and Practices and Part III deals with Company Secretary as a Profession.
Theory papers need to be answered in a technical manner. Your vocabulary and technical presentation will be judged to a great extend and therefore, over and above understanding concepts, you also need to master the art of mugging up important terms and sections.
PAPER 3: SETTING UP OF BUSINESS ENTITIES AND CLOSURE
There are various business structures such as Companies, LLP, Trusts, and Societies etc. which one can choose to start a business. Choosing a form of business entity is crucial to a successful organization. The choice of a business entity will depend on an object, benefits, size of the business of such entity and many other factors.
Without understanding the types of business entities and formation of those, you cannot achieve the basics to perform duties of a company secretary.
This paper can be studied easily by understanding the steps and memorising them in order along with certain provisions.
Only if you thoroughly understand the types and features of different entities can you study the further provisions related to such an entity
PAPER 4: TAX LAWS
Practice, practice, practice as many questions as you can to cover atleast a significant percentage of the variety of questions and question banks available.
Indirect tax covers the GST Act. You should make it a habit to understand each and every provision as it is an easy area to score.
Direct tax, which covers the Income Tax Act, 1961 must be studied diligently. You can concentrate more on relatively important chapters which includes, but not restricted to Basic Concepts, Residential Status, Salaries, Income from House Property.
Profits and Gains from Business and Profession is a vast chapter which requires efficient allocation of time. Therefore, it is not advisable to keep this for the last minute.
Section numbers of important provisions must be memorised.
PAPER 5: CORPORATE AND MANAGEMENT ACCOUNTING
The first and foremost rule for Accountancy is to not mug up, but to understand the various concepts and topics. This is important to make the base strong which will further help in solving various difficulty level questions.
Important questions must be practised frequently and repeatedly.
Maintain a study journal to note down:
Easy to access notes
There must be atleast one question from the Buy Back, Underwriting or ESOP and are chapters which are generally easy to prepare for.
Company accounts constitute a significant portion of the mark weightage. Practice can make you perfect at it as it’s generally confined to sticking to formats.
PAPER 6: SECURITIES LAWS AND CAPITAL MARKETS
The CS Executive Capital Market and Securities laws subject is a very important subject of the CS Course.
Students’ general perception that Capital Markets and Securities Laws is a theoretical subject, is a myth. The objective of this paper is to give expert knowledge; therefore, you have to be fully conversant of all applicable laws in securities laws. After passing the CS course, the members have to deal with the practical situations and apply the theory of the relevant subject.
Concentrate more on the analytical skill for implication of theory in a given case.
Access the websites of SEBI, NSE, BSE etc. for the updated rules and regulations.
Referring to one financial daily and journal for latest happenings in the corporate world with respect to the securities laws.
PAPER 7: ECONOMIC, BUSINESS AND COMMERCIAL LAWS
You must answer the questions with due emphasis on the provisions of law.
Support your answers and conclusions with proper reasoning.
The answers should be based on case study decided by Supreme Court, High Courts and Quasi-Judicial Bodies wherever applicable.
There should be proper alignments of thoughts and expression while writing in the examination.
Keep a watch on DIPP, RBI, CCI, Controller of Patents, Registrar of Copyright and Pollution Control Boards Circulars, Notifications issued from time to time
Refer to the Website of Department of Industrial Policy and Promotion, Reserve Bank of India, Competition Commission of India.
PAPER 8: FINANCIAL AND STRATEGIC MANAGEMENT
Start from the basic theory and formulas of the chapters so that you can easily solve the difficult level questions.
It is always better to start and be done with the small and easy chapters first. The reason corresponds to the simple fact that all the small chapters collectively contribute to a huge weightage of marks. Eg: Leverage, Ratios etc
Your language proficiency matters a lot in SM.
Write and practice answers instead of merely reading it. This helps in improving your vocabulary which will act as a huge advantage for your answer script.
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