How to prepare for CA IPCC (Old syllabus)?
Hello friends, this article is particularly for students who are going to give their CA IPCC exam in old syllabus. As only a few attempts are left under old course, this article may help you to clear your IPCC in very next attempt.
Group 1
Paper 1: Accounting
1) SM,PM are more than sufficient.
2) Make adjustment notes for amalgamation/internal reconstruction. Amalgamation is very easy. Students get confuse because they create confusion on their own by taking irrelevant assumption. Be crystal clear, don't assume anything non-sense. Don't try to learn adjustment, just apply concept without observing answer I am pretty sure you will able to solve the question. But if you learn adjustment, there is huge changes of mistake.
3) AS 2 and AS 9 are all time favorite for institute.
ABC analysis
CA IPCC Accounts Old syllabus
A Category
AS 2,9,7,10
Partnership firm
Amalgamation/Internal Reconstruction
B Category
AS 6,13
NPO
Accounts from Incomplete record
Investment Accounts
Insurance contracts
Average due date
Cash flow statement
C Category
All remaining AS
Profit and loss prior to incorporation
Bonus accounting
Account current
Self balancing ledgers
Hire purchase
Accounting for computerized records {Theory}
Paper 2 : Law
1) Don't try to learn provision as it is. This is the biggest misconception among students due to which students fail. They waste months in learning provision as it is, which is not possible at all. How you can expect someone to remember all provision as it is when you have such a huge syllabus?
Now again a common most query of students: ICAI accepts us to write module language. How can we score in this subject if we don't replicate provision as it is?
Solution: Try to revise theory subjects atleast 3-4 times as you studied in your 11-12th standard. If you can able to achieve this target, believe me, while writing exam you will able to replicate law language automatically. Nothing more to do.
No ABC analysis for law, ICAI can ask anything from any part. Read each and every line when you study and revise.
Paper 3: Costing FM
For Costing, click on given link: How to study costing for CA exam?
For FM, general tips are same as for costing.
FM ABC Analysis
*CA IPCC old syllabus FM ABC analysis*
*A Category*
1) Investment decisions
2) Cash flow analysis
3) Ration analysis
4) Business risk and Financial risk in Financial decision chapter
*B Category*
1) Types of financing (Theory chapter)
2) Mgmt of receivable
3) Cost of capital
4) Capital structure
5) Working capital management
*C Category*
Remaining parts
*Don't ignore theory*. It carries 32 marks weightage.
4) Tax
Revise, revise and revise. Only key to success. Especially chapters like salary need 100 times revision. Sorry I has exaggerated it very much but as all of you know what happen when you sit with this chapter each time?
Group 2:
Paper 5: Advance Accounting
ABC analysis
CA IPCC ABC analysis (New syllabus)
Category A
AS-2,4,5,10,16,22
Partnership Accounts
Amalgamation/Internal Reconstruction
Accounting for Branches
Category B
AS-11,12,13,17
Cash flow statement
Departmental account
Insurance Accounts
Investment Accounts
Redemption of debentures
Accounts for incomplete
Record
Category C
Remaining all AS
Hire purchase
Profit or loss pre and post incorporation
Bonus Issue
Preparation of Financial statement
Redemption of preference shares
6) Audit
Click here: How to study Audit in CA exam?
7) ITSM
IT-Revise, Revise and Revise
SM- Be very clear with concept. Don't try to learn only PM. You will find very difficult to clear it if you do so. ICAI always try to test your conceptual clarity in this subject. For strategic management, all chapters are quickly important
I don't want to give ABC for SM as there are only 7 chapters and they all carry almost same weightage in every exam
*How to score good in SM?*
1) Don't just follow PM. It doesn't cover each and everything..
2) Many times ICAI ask application based question so understand each and every concept.
3) Cover last 3 attempt paper and RTP
General tips
1) Practice practical subjects by writing with hand not just by looking. Don't be lazy. You will able to reduce mistakes by atleast 20-25% by doing so.
2) For Rank, revision is key. Don't wait for your classes to complete the chapters that you can do on your own.
Believe in yourself. Be confident. All the best for preparations.
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