CA Inter / IPC Question papers May 2019 exams

28th May 2019 marks the beginning of the CA IPC May 2019 exams. The date sheet of the CA IPC May 2019 exams is as follows,

CA IPC Exam Date Sheet for May 2019 (Old syllabus of ICAI)

Paper 1- Accounting

The Accounting paper was held on 28th May 2019 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Accounting (Old Syllabus)
Click here to download CA IPC Accounting Paper Old Course May 2019

CA IPCC Accounts (Old Course) - Paper Analysis

Being the first exam, Accounts has a relevance of its own. The nervousness of the first examination is always the highest. Also, performance in the first examination generally sets the tone for the rest of the group.

CA IPCC Accounts (Old Course) - Now if you are looking for the CA Inter Accounts Paper Analysis for new course, same is separately available. This is a relevant only for the Old Course Students. At first, paper seemed to be easy but going through the details one could say that it covered a lot questions on the basic concepts. So it could not have been taken lightly, but it was easier in comparison to the last attempt exam. After going through the same few things which we observed were:

1. No questions were asked from some of the frequently asked chapters like single entry etc
2. Some Questions were from topics like Bonus shares, Self & Sectional Balancing etc, which are rarely asked in exam, so the exam was on unexpected lines.
3. Students were supposed to maintain good speed throughout without compromising on the working notes part.
4. No major new points were asked in the paper. All the questions were covered in the classes thoroughly.

Going question by question, following can be analyzed about the exam:

Q1 - Compulsory for 20 marks covering 4 subparts of 5 Marks each. It was entirely from AS as per the general trend:

a) From AS 2 on the valuation of inventory.
b) From AS 3 and related to the basic classification of transactions amongst different activities.
c) From AS 10 and point of emphasis was computation of depreciation.
d) From AS 13 and tested concepts of reclassification of investments.

The next 6 questions were of 16 marks each, out of which any 5 were to be attempted.

Q2 - No Sub Parts - was from Company Accounts and dealt with preparation of Final Accounts covering some basic adjustments.

Q3 - Had 2 sub-parts

a) From Profit Prior to Incorporation - covering allocation of items, very basic and straight forward.
b) From Self & Sectional Balancing requiring preparation of Total Debtors and Creditors Account

Q4 - No Sub Parts - From NPO in which Income & Expenditure A/c and Balance sheet was to be prepared. The question was lengthy and certain Conceptual points were covered like treatment of the entrance fees etc. Similar questions were done in class also, so should not have surprised the students.

Q5 - Had 2 sub parts

a) From Hire Purchase and related to the concept of Partial Repossession.
b) From Investment Accounts wherein Account was to be made for Investment in Debentures ( Fixed Income Bearing Securities)

Q6 - No Sub Parts – From Partnership Accounts and related to Applicability of Sec 37.

Q7 - It had an internal choice as well wherein out of 5 sub parts, any 4 were to be attempted.

a) From Bonus shares, only Basic Entries were to be passed
b) A theoretical question from Accounting in Computerized Environment.
c) From Insurance Claims covering the concept of Loss of Stock Policy
d) From Average Due Date requiring computation in case of Bilateral transactions.
e) Another theoretical question from Basics of Accounting Standards.

All in all as I stated earlier, we can say that this examination tested one’s concepts and was on unexpected lines. Such an examination can be conquered with planned preparation and marking new points in the very first revision itself and going through them at every stage of study.

To the students who appeared for the examination, I would only advice to let go however the examination went for them - good or bad and concentrate on the upcoming exams. It was just one exam out of the 4 or 7 you have to appear for. CA doesn’t test you only on your preparation, but tests your mental stability and strength to keep your calm in the time of extreme excitement or extreme disappointment. On that note - Best of Luck for the results and may you fair well!!

Click here to download CA IPCC Accounting Question Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Accounting (New Syllabus)
Click here to download CA IPC Accounting Paper New Course May 2019

Being the first exam, Accounts has a relevance of its own. The nervousness of the first examination is always the highest. Also, performance in the first examination generally sets the tone for the rest of the group.

CA Inter Accounts (New Course) Examination this time was a 16 page Question Paper so needless to say a lengthy one, however the level of the examination was not very difficult. Can be refered to as of moderate difficulty. My general analysis of the examination is as follows:

1. Many questions were asked from Accounting Standards.

2. The exam was on the expected lines and nothing as such should have surprised the students.

3. Examination being a lengthy one, students were supposed to maintain good speed throughout without compromising on the working notes part.

4. No major new points were asked in the paper. All the questions were covered in the classes thoroughly.

Going question by question, following can be analyzed about the exam :

Q1 - Compulsory for 20 marks covering 4 subparts of 5 Marks each. It was entirely from AS as per the general trend.

a) From AS 16 with the Point of Importance being the interest to be capitalized, it covered the aspect of general & specific loan.
b) From AS 13 on reclassification of investments.
c) Covered 5 different Standards asking for True/False along with reasons. Students were not supposed to write details, only an explanation restricted to a couple of lines only.
d) From AS 4 again covering various different cases.

The next 5 questions were of 20 marks each as well, out of which any 4 were to be attempted.

Q2 - Both the parts of these questions were quite easy

a) From Hire Purchase chapter related to the concept of Partial Repossession.
b) From Insurance Claims related to Loss of Profit Policy.

Q3 - Again had 2 sub-parts

a) From Single Entry requiring preparation of Final Accounts. Detailed working notes were expected from students in this part.
b) From Branch Accounts and was related to Foreign Operations.

Q4 - No Sub Parts - From Advanced Partnership covering concepts of Admission & Conversion of firm into Company.

Q5 - Had 2 sub parts

a) From Redemption of Preference Shares requiring Journal entries and Balance sheet.
b) From Cash Flow Statements

Q6 - It had an internal choice as well wherein out of 5 sub parts, any 4 were to be attempted.

a) A theoretical question from AS 22
b)From Basic concepts wherein Final Accounts were to be prepared assuming going concern is not valid so items were to be shown at NRV.
c) From Profit Prior to Incorporation - covering allocation of items, very basic and straight forward.
d) Theoretical question from Advanced Partnership relating to then on applicability of Garner vs Murray.
e) From AS 2 - point of emphasis being treatment of Abnormal loss.

All in all as I stated earlier, we cant say that this examination had anything surprising for the student in it, but It must have really tested students’ ability to complete the examination in time. Such an examination can be conquered with regular practice and practicing questions and past year papers with time boundations at the preparation stage.

To the students who appeared for the examination, I would only advice to let go however the examination went for them – good or bad and concentrate on the upcoming exams. It was just one exam out of the 4 or 8 you have to appear for. CA doesn’t test you only on your preparation but tests your mental stability and strength to keep your calm in the time of extreme excitement or extreme disappointment. On that note - Best of Luck for the results and may you fair well !!

Click here to download CA IPCC Accounting Question Paper New Course May 2019
To enroll Accounting (CA Inter) subject of the author: Click here

Paper 2- Business, Law, Ethics & Communications (Old Course) / Corporate and Other Laws (New Course):

This paper was held on 30h May 2019 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Business, Law, Ethics & Communications (Old Syllabus)
Click here to download CA IPC Business, Law, Ethics & Communications Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper:  Corporate & Other Laws (New Syllabus)
Click here to download CA IPC Corporate & Other Laws Paper New Course May 2019

Solved Paper of Corporate & Other Laws (CA Inter) May 19

Q-1(a) As at 31st March, 2018, the paid-up share capital of S Ltd. is Rs. 1,00,000 divided into 10,00,000 equity shares of Rs. 10 each. Of this, H Ltd. is holding 6,00,000 equity shares and 4,00,000 equity shares are held by others. Simultaneously, S Ltd. is holding 5% equity shares of H Ltd. out of which 1% shares are held as legal representative of deceased member of H Ltd. on the basis of the given information, examine and answer the following queries with reference to the provisions of the Companies Act, 2013:

I. Can S Ltd. make further investment in equity shares of H Ltd. during 2018-19?
II. Can S Ltd. exercise voting rights at Annual General Meeting of H Ltd.?
III. Can H Ltd. allot or transfer some of its shares to S Ltd.?

Answer

In the given case, it can be understood that H Ltd. is holding company of S Ltd. Section 19 of Companies Act, 2013 contain provisions for holding of shares by subsidiary company into holding company.

I. Subsidiary company cannot purchase further shares into holding company or holding company cannot allot further shares to its subsidiary company after establishment of relation of holding and subsidiary. Hence, S Ltd. cannot make investment in equity shares of H Ltd. during 2018-19.

II. Subsidiary company has right to vote at meeting of holding company only in respect of shares held by it as legal representative or as a trustee. Here, S Ltd. is holding 1% shares as legal representative of deceased member of H Ltd. For those shares (i.e., 1%) it has voting right.

III. Holding company cannot transfer or allot shares. If it allots shares, allotment will be void.

Q-1(b) (i) Modern Jewellery Ltd. decides to pay 5% of the issue price gap of shares as underwriting commission to the underwriters, but the Articles of the company authorise only 4% underwriting commission on shares. Examine the validity of the above decision under the provisions of the Companies Act, 2013.

Answer

Please refer answer to question no. 1 from past examination question of Chapter no. 4A – Share Capital (Allotment of Shares, Capital & Alteration of Capital)

Q-1(b) (ii) PQ Ltd. declared and paid 10% divided to all its shareholders except Mr. Kumar, Holding 500 equity shares, who instructed the company to deposit the divided amount directly in his bank account. The company accordingly remitted the dividend, but the bank returned the payment on the ground that the account number as given by Mr. Kumar doesn’t tally with the records of the bank. The company, however, did not inform Mr. Kumar about this discrepancy. Comment on this issue with reference to the provisions of the Companies Act, 2013 regarding failure to distribute dividend.

Answer

Please refer answer to question no. 13 from past examination question of Chapter no. 8 – Declaration of Dividend.

Q-1(c) The Government of India is holding 51% of the paid-up equity share capital of Sun Ltd. The Audited financial statements of Sun Ltd. for the financial year2017-2018 were placed at its annual general meeting held on 31st August, 2018. However, pending the comments of the Comptroller and Auditor General of India (CAG) on the said accounts the meeting was adjourned without adoption of the accounts. On receipt of CAG comments on the accounts, the adjourned annual general meeting was held on 15th October, 2018 whereat the accounts were adopted. Thereafter, Sun Ltd. filed its financial statements relevant to the financial year 2017-18 with the Registrar of Companies on 12th November, 2018. Examine with reference to the applicable provisions of the Companies Act, 2013,  whether Sun Ltd. has complied with statutory requirement regarding filing of accounts with the Registrar?

Answer

• As per section 137, if Annual General Meeting is not held, the financial statement along with documents duly signed along with statement of facts and reason for not holding the Annual General Meeting should be filed within 30 days from the latest date on or before which that meeting should have been held. If not filed within 30 days, filing may be done within 30 days with additional filing fees.
• Every company shall convey Annual General Meeting within period of 6 months from end of financial year. Adjourned meeting should be held within stipulated time limit of 6 months (i.e. on or before 30th September, 2018).
• If financial statements are placed before Annual General Meeting but not adopted at Annual General Meeting, it should be filed with all specified documents with Registrar within 30 days of Annual General Meeting.
• Registrar should take note of unadopted financial statements on records as provisional until the financial statements are filed with him after their adoption in adjourned Annual General Meeting. If Annual General Meeting is held on 15 October 2018, the financial statements along with attachments specified for financial year of 2018 should be filed with the Registrar of Companies by 13th November 2018. In the given case it has been filed by company on 12th November, 2018. Company has not complied with provisions regarding filing of annual financial statements.

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Paper 3- Cost Accounting and Financial Management (Old Course) / Cost and Management Accounting (New Course)

This paper was held on 1st June'19 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Cost Accounting and Financial Management (Old Syllabus)
Click here to download CA IPC Cost Accounting and Financial Management Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Cost and Management Accounting (New Syllabus)
Click here to download CA IPC Cost and Management Accounting Paper New Course May 2019

Paper 4- Taxation

This paper was held on 3rd June 2019 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Taxation (Old Syllabus)
Click here to download CA IPC Taxation Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Taxation (New Syllabus)
Click here to download CA IPC Taxation Paper New Course May 2019

Taxation (CA Inter) Paper Evaluation by CA Ashish B. Deolasi

Paper 5- Advanced Accounting 

This paper was held on 6th June 2019 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Advanced Accounting (Old Syllabus)
Click here to download CA IPC Advanced Accounting Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Advanced Accounting (New Syllabus)
Click here to download CA IPC Advanced Accounting Paper New Course May 2019

Paper 6- Auditing & Assurance

This paper was held on 8th June 2019 both for Old and New course.

Old Syllabus

Download CA IPC Question Paper: Auditing & Assurance (Old Syllabus)
Click here to download CA IPC Auditing & Assurance Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Auditing & Assurance (New Syllabus)
Click here to download CA IPC Auditing & Assurance Paper New Course May 2019

Paper 7- Information Technology & Strategic Management (Old Course) / Information Systems & Strategic Management (New Course)

This paper was held on 10th June 2019 both for Old & New Course

Old Syllabus

Download CA IPC Question Paper: Information Technology & Strategic Management (Old Syllabus)
Click here to download CA IPC Information Technology & Strategic Management Paper Old Course May 2019

New Syllabus

Download CA IPC Question Paper: Information Systems & Strategic Management (New Syllabus)
Click here to download CA IPC Information Systems & Strategic Management Paper New Course May 2019

Paper 8- Financial Management & Economics For Finance

This paper was held on 12th June 2019 for New Course

New Syllabus

Download CA IPC Question Paper: Financial Management & Economics for Finance (New Syllabus)
Click here to download CA IPC Financial Management & Economics for Finance Paper New Course May 2019

To view Past Years' Question paper click below:

CA IPCC Question Papers Nov 2018
CA IPCC Question Papers May 2018
CA IPCC Question Papers Nov 2017
CA IPCC Question Papers May 2017
CA IPCC Question Papers Nov 2016
CA IPCC Question Papers May 2016
CA IPCC Question Papers Nov 2015
CA IPCC Question Papers May 2015
CA IPCC Question Papers Nov 2014
CA IPCC Question Papers May 2014
CA IPCC Question Papers Nov 2013

To download all question papers of CA IPC May'19 (Old / New) Syllabus - Click here