Around 60% of students who drop CA, leave at this stage. Yes, Group 2 of IPCC. It's like a never-ending loop. Once you are caught in it, you will be stuck in it. I have known people who give Finals in the very next attempt of their IPCC group 2 attempt.
What is so tough in it as compared to Group 1?
- Get 50% aggregate in 3 subjects, out of which 2 are theory?
- Those 2 theory subjects are tougher to score than other theory subjects?
Numerical subjects help us building the aggregate, but here we have only one Advance Accounts (AA), The other ones are Audit and then the nightmare of all -ITSM. But you know where students lost?
They lost in locking their exemption in AA. I'll tell you how.
So we need 150.
In our 1st or 2nd attempt, we scored(say) 64 in AA. We got exemption in it. In Audit, ITSM 30-45 or failed in aggregate or both. Now 64 is locked for the next 3 attempts.
Next attempt. We need 86 from two(150-64).43 each. Now the series of failure starts. Very few are able to come out of it. We either go below 40 in any of those 2 or stuck at 40-42. But not 86 in those 2. Here setoff could have saved you.
The attempt, in which we scored exemption in AA, had we prepared with slight more efforts and scored 70, then it wouldn't have been such big trouble. Because then we needed only 40 in both, and that's what could have created a difference.
But for the next three attempts, we have to settle with 64 and score the balance with those 2, because rarely it happens when someone doesn't avail the exemption and again give AA.
When 3 attempts are done, it's been 1.5 years since we have not studied AA. That's where we leave CA.
Here ICAI cannot do anything. If you scored exact 40 you know you actually got less than 40. Its ICAI who brought you up at 40.
Now its the new syllabus. We have 4 subjects in Group 2. Out of them, 2 are numerical - Advance Accounts (AA) and Financial Management with Economics for Finance (FME) and 2 theory- Audit and EIS-SM.
Has it ended the loop of failure in group 2 or its the same?
In May-18 only 445 students appeared for group 2 separately. Out of them, 18 cleared it. (4.04%). In Nov-18, 8652 students appeared for group 2 separately, 3724 passed. (43.04 %)
It is tough to conclude anything from these exceptional set of data.
From May-19 the biggest reform is going to come.30 MCQs without negative marking in theory subjects. Let's see what happens after this.
All the Best!