Gear up for upcoming MBA entrance exams
The admission notifications for most of the important MBA entrance exams for 2012 – 2013 have been released. Some of the important MBA entrance exams are XAT, CAT, IIFT, CMAT, SNAP and NMAT. Though the overall syllabus for most of the exam remains same, there may be slight changes in the pattern of these exams. So students need to keep these changes in mind while preparing for a particular exam. Let us go through the paper pattern of upcoming MBA entrance exams in brief :
AICTE CMAT 2013 : The CMAT 2013 will be held from Thursday, September 27, 2012 to Monday, October 01, 2012. CMAT paper will have 4 sections : Language Comprehension, Logical Reasoning, General Awareness and Quantitative Techniques & Data Interpretation. Total time duration of the exam is 3 hours. Paper will have a total of 100 questions ( 25 in each section ). There will be no negative marking and 4 marks will be awarded for each correct answer. The difficulty level of the paper will be moderate.
CAT 2012 : The CAT 2012 will be held from Thursday, October 11, 2012 to Tuesday, November 06, 2012. The test comprises two sections that are separately timed. Each section will be of 1 hour and 10 minutes ( ie 70 minutes ). There will be 30 questions in each section. The sections are ( a ) Quantitative Ability & Data Interpretation ( b ) Verbal Ability & Logical Reasoning. Aspirants will be presented with the section on Quantitative Ability & Data Interpretation first, followed by Verbal Ability & Logical Reasoning. Paper will be of total 240 marks, where 4 marks will be awarded for each correct answer while 0.25 marks will be deducted for each wrong answer.
NMAT 2013 : The NMAT 2013 will be held from Thursday, October 11, 2012 to Wednesday, December 19, 2012. The exam will be an objective type multiple choice test. There will be 32 questions on Language Skills; 48 questions on Quantitative Skills and 40 questions on Logical Reasoning. There will be a total of 120 questions to be answered in 120 minutes. There will be no negative marking. Registrations will close on September 25, 2012 and with a late fee on October 4, 2012.
IRMA : IRMA is conducted by Institute of Rural Management Anand. The exam will be held on November 11, 2012 and registrations will close on September 30, 2012. Duration of the exam is 2 hours. It will be paper pencil based test comprising of 200 questions. More weightage will be given to analytical reasoning and English comprehension sections.
IIFT 2012 : The IIFT 2012 will be held on Sunday, November 25, 2012. The admission test is a multiple choice objective type written test ( in English ). Duration of the test is two hours and will cover English Usage and Comprehension, General Knowledge & Awareness, Data Interpretation, Logical Reasoning and Quantitative Analysis. There will be a total of 120 questions and 1/3 marks will be deducted for each incorrect answer.
MAT : Paper pencil based test will be held on December 2, 2012 and computer based test on December 8, 2012. Exam will be 2.5 hours duration. Sale of application form will begin from November 14, 2012. The MAT scores are accepted by All India Management Association.
IBSAT : IBSAT scores are accepted by the ICFAI University group. Exam will be held from December 15 to January 6, 2012. It will be a two hour online test. Last date to apply is December 7, 2012.
SNAP 2012 : SNAP is generally conducted in the month of December. The paper is divided into 4 sections – General English ( GE ), Quantitative Ability, Data Interpretation & Data Sufficiency ( QA, DI & DS ), General Awareness ( GA ) and Analytical & Logical Reasoning ( AR & LR ). There are a total of 150 questions to be answered in 2 hours. Paper is of total 180 marks. Last date to register for SNAP test is November 20, 2012.
XAT 2013 : XAT 2013 is scheduled for January 6, 2013. The institute is planning to incorporate few changes in the exam this year. The mode of the exam will be paper pencil based. XLRI is planning to extend the exam duration from 2 hours to two and a half hours, excluding the essay part. Further candidates can expect more questions on social sciences and humanities though the paper will be more of analytical. Till last year, paper comprised of 4 sections including the essay writing part. The sections were Quantitative Ability & Data Interpretation ( QA & DI ), Data Sufficiency ( DS ), English Language Ability & Logical Reasoning ( ELA & LR ) and Essay Writing ( EW ). There were a total of 85 questions. Total duration of the exam was 2 hours. The paper was of 100 marks where 0.25 marks were deducted for each wrong answer. Last date to register for XAT 2013 is November 30, 2012.
All the exams differ in terms of number of questions, time duration and marking pattern. However, the sections remain almost same in all the exams verbal ability, quantitative ability, logical reasoning, data interpretation and general awareness. So students have to base their preparation strategies around these sections only. For time management they can practice the respective model papers which will also give them an insight to the type of questions asked in a particular exam. So buckle up for the 2012 examination season.
MBA Graduates exposed to Career Opportunities
Career prospects for MBA graduates in non-profit organisations were highlighted through a lecture organised recently by the Department of Commerce and Financial Studies, Bharathidasan University.
Gaining knowledge on accounting standards to be followed by such organisations was the need of the hour, M.S. Sankar, Financial Advisor and Chief Accounts Officer, Directorate of Collegiate Education, Chennai, said delivering the special lecture on ‘Accounting for Non-Profit Organisations’.
A lot of job opportunities are available for MBA graduates in non-profit organisations, he said.
Motivating the students to treat skills as the capital, he emphasised on the importance of branding themselves for transforming into unique and successful entrepreneurs.
Non-Profit Organisations, he said, contribute to about 14.8 per cent of gross domestic product, employing nearly 20 million persons on paid or volunteer basis.
Accounting standards serves the statutory purpose of eliminating the impact of diverse accounting policies and practices so that financial statements become more meaningful and comparable under various heads, he said.
Observing that the major source of revenue for the Non-Profit Organisation is the grants received from donors, Mr. Sankar explained in detail the Accounting Standards (AS) 12 which regulates the Accounting for Government Grants.
Mr. Sankar elaborated : AS – 12 insists that the enterprise should comply with the conditions attached to get recognition from Government Grants.
A mere promise from Government / donor agencies do not provide reasonable assurance that the grants will be received.
On the basis of available evidence, reasonable assurance, NPO should recognise a grant / donation. The Grants can be recognised either as income or liability.
Treatment of Grants
If it is treated as income the amount expensed out should be shown as expenditure in the Income and Expenditure Account.
The grants can be treated as liability on the ground that the donor agencies give money to the organisation to be spent in a particular manner.
Foreign Contribution constitutes one-eighth of the grants received by the Non-Profit Organisation, Mr. Sankar said, and provided insights into the definition of foreign contribution, the forms prescribed under Foreign Contribution Regulation Act, and the documents to be attached with such forms.
Department Head M. Selvam said the lecture served the purpose of orienting the students on diverse career avenues.