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With exams hardly a week away, you would now be engaged in full swing preparation. With the syllabus being so vast, few would be finding it difficult to choose where to start the preparation. Through this article, I’ll give you the weightage on each topic which would help you in deciding what are the important topics and where should the focus be first given.

Group one of the Intermediate Exams has four papers-

  1. Accounting
  2. Corporate and Other Laws
  3. Cost and Management Accounting
  4. Taxation
Important Topics for CA Intermediate Exams - Group 1

1. Paper 1- Accounting

Section

Sl.No

Content

Weightage

I

1

Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.

20%-25%

2

Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)

3

Application of Accounting Standards:

 

AS 1: Disclosure of Accounting Policies

 

AS 2 : Valuation of Inventories

 

AS 3 : Cash Flow Statements

 

AS 10: Property, Plant and Equipment

 

AS 11: The Effects of Changes in Foreign Exchange Rates 12: Accounting for Government Grants

 

AS 13 : Accounting for Investments 16: Borrowing Costs

II

4

Accounting for Special Transactions:

 

Investment

 

Insurance claims for loss of stock and loss of profit

 

Hire - Purchase and Instalment Sale Transactions

III

5

Special Type of Accounting

 

Departmental Accounting

 

Accounting for branches including foreign branches

 

Accounts from Incomplete Records

IV

6

Company Accounts

30%-35%

 

Preparation of financial statements - Statement of Profit and Loss, Balance Sheet and Cash Flow Statement;

 

Managerial Remuneration;

 

Profit (Loss) prior to incorporation;

 

Accounting for bonus issue and right issue;

 

Redemption of preference shares;

 

Redemption of debentures.

2. Paper 2- Corporate and Other Laws

Section

Sl.No

Content

Weightage

   

Part I-The Companies Act, 2013- Section 1 to 148

 

I

1

Preliminary

25%-40%

2

Incorporation of company and matters incidental thereto

3

Prospectus and Allotment of securities

4

Share capital and Debentures

II

5

Acceptance of Deposits by companies

25%-35%

6

Registration of Charges

7

Management and Administration

III

8

Declaration and payment of dividend

35%-40%

9

Accounts of companies

10

Audit and auditors

   

Part II - Other Laws (40 Marks)

 

I

1

The Indian Contract Act, 1872 (Specific contracts covered from section 123 onwards): Contract of Indemnity and Guarantee, Bailment, Pledge, Agency

30%-35%

II

2

The Negotiable Instruments Act, 1881: Meaning of Negotiable Instruments, Characteristics, Classification of Instruments, Different provisions relating to Negotiation, Negotiability, Assignability, Right and Obligation of parties, presentment of Instruments, Rules of Compensation

20%-35%

III

3

The General Clauses Act, 1897: Important Definitions, Extent and Applicability, General Rules of Construction, Powers and Functionaries, Provisions as to Orders, Rules, etc. made under Enactments, Miscellaneous

15%-25%

4

Interpretation of Statutes- Rule of Interpretation of statutes, Aids to interpretation, Rules of Interpretation/construction of Deeds and Documents

3. Paper 3- Cost and Management Accounting

Section

Sl.No

Content

Weightage

I

1

Overview of Cost and Management Accounting

10%-15%

 

Introduction to Cost and Management Accounting

 

Elements of Cost and preparation of Cost Sheets

II

2

Ascertainment of Cost and Cost Accounting System

35%-40%

 

Material Cost

 

Employee Cost

 

Overheads

 

Concepts of Activity Based Costing (ABC)

 

Recording and Accounting of Costs

III

3

Methods of Costing

25%-30%

 

Single Output/ Unit Costing

 

Job Costing

 

Batch Costing

 

Contract Costing

 

Process/ Operation Costing

 

Costing of Service Sectors

IV

4

Cost Control and Analysis

20%-25%

 

Standard Costing

 

Marginal Costing

 

Budget and Budgetary Control

 

4. Paper 4- Taxation

Section

Sl.No

Content

Weightage

   

Section A: Income Tax Law (60 marks)

 

I

1

Basic Concepts

65%-75%

2

Residential status and scope of total income

3

Heads of income and the provisions governing computation of income under different heads

4

Income of other persons included in assessee's total income

5

Aggregation of income; Set-off, or carry forward and set-off of losses

6

Deductions from gross total income

7

Computation of total income and tax liability of individuals

8

Advance tax, tax deduction at source and Introduction to Tax Collected At Source

9

Provisions for filing return of income and self-assessment

II

10

Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)

25%-35%

   

Section B: Indirect Tax (40 marks)

 

I

1

Levy and collection of CGST and IGST

50%-80%

2

Basic concepts of time and value of supply

3

Input tax credit

4

Computation of GST liability

II

5

Registration

25%-40%

6

Tax invoice; Credit and Debit Notes; Electronic way bill

7

Returns

8

Payment of tax

III

9

Concept of indirect taxes • Concept and features of indirect taxes; Principal indirect taxes

0%-5%

10

GST Laws: An introduction including Constitutional aspects

 
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