Creating summary notes for CT2 - useful?

I was wondering whether there was any point in creating summaries for the chapters. I've done a few chapters where I've summarised at a ratio of 1 page of my typed notes per 3 of the materials.

Wondering if someone suggest a more efficient way of studying? On the other hand, typing notes in my own words forces me to understand the materials more deeply because I have to try to cut it down without trying to copy slabs of the book.

I would never do this for subjects like CT3 or CT4 but this subject is so full of content rather than maths.

Thanks for any guidance.

 

Of course your own notes will be definitely be of use to you.
Subject like CT 2 requires your concepts to be very clear as most of the questions in IAI are of application of your concepts.

To add to it, what I think is to prepare for CT2, you need to be very clear with your concepts plus the practice of balance sheet and Npv questions are a must.
If you can get through these questions, you are passed.

 

Tips to clear CT 2-Finance and Financial Reporting
- Extended course of 18 chapters compared to other CT Exams.
- Consists of multiple choice questions of 20 marks and 80 marks subjective questions.
- Multiple choice questions are tricky so one should practice a lot from past papers and have a good understanding of the concepts in core reading and do read comments in solution section.
- First 6 chapters are easy but understanding the text is must.
- Last 3 chapters are very important and are usually asked in exam.
- Questions on balance sheet preparation, ratio calculation, NPV calculation along with application based questions are important and usually carry high marks in exam.
- Clearing CT2 becomes a daunting task , mind it, it is not as easy as some people think especially after the revised pattern.
- Make sure that you are well versed with entire conceptual part of the core reading material rather than just mugging it up as questions are going to be application based and situation oriented rather than bookwork.
- 3 hours are enough for CT2 provided that you manage your tym well, there are 10 MCQ questions of 2 marks each and 10 subjective questions so first attempt MCQs then long questions and lastly short questions of 5 marks as they are tricky.
-Some questions are weird and it might be difficult to understand what the examiner is asking and what level of solution is expected.
- Dont try to mug up exact book language if you are not able to learn. You can produce in your own language and will get marks.
- Write as much as required and related to the question asked .Just for the sake of completing a question dont write what is not required else you will not be able to complete the paper.
- And dont forget to practice Question bank and X- assignments as they form a base of your preparation.
#copied

 

I appreciate your help guys