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My Tips and Tricks for Accounts - Study Schedule

CA Madhukiran Reddy (CHARTERED ACCOUNTANT) (12714 Points)

27 February 2011  

 

MY TIPS AND TRICKS FOR THE ACCOUNTS

Well Friends, All of we know that ACCOUNTS plays a major role in CA exams mostly in IPCC, Out of 700 marks 200 marks is from Accounts and another 100 marks is from Cost Accounts.

There is Only 2 month’s time is available for exams. In my opinion the most scoring subjects in IPCC are Accounts (Group I & Group II), Taxation and Law. If we manage to get above 60 in the above mentioned subjects then aggregate problem will not be there to you. To achieve this consistent study, hard work and knowledge about the subjects is required.

Here the following are My Tips and Tricks to crack the Accounts in a simple way.

 

ROLE OF ACCOUNTING STANDARDS: {CATEGORY A}

All of you know that AS plays a major role in accounts because it covers the more than half of the question paper.

More than 50% (Nearly 25 marks is directly from AS in each group and others is from Amalgamation, Cash Flow etc.,) of Questions is from Accounting Standards.

So to get high in accounts be thorough with Accounting Standards.

For IPCC not all the standards are applicable only 18 standards i.e., AS – 1,2,3,4,5,6,7,9,10,11,12,13,14,16,19,20,26 and 29 are applicable.

See the following study schedule for Accounting Standards don’t read all the standards at one stretch, just spent of 15 minutes your time in the Morning (M) when you woke up and in the Evening (E) when you going to sleep.

 Start the Preparation from March 1st onwards in the following way:

Study Schedule for Accounting Standards:

AS

Date

Complete within

Study Time

1

Mar 1st

Your aim is to Complete each standard in 15 Minutes.

M

2

E

3

Mar 2nd

M

4

E

5

Mar 3rd

M

6

E

7

Mar 4th

M

9

E

10

Mar 5th

M

11

E

12

Mar 6th

M

13

E

14

Mar 7th

M

16

E

19

Mar 8th

M

20

E

26

Mar 9th

M

29

E

 

By following this schedule just by spending 15 min time in Morning and in Evening you can complete the Accounting Standards successfully.

Follow the schedule thrice (twice in March and Once in April) before exams.

 

COMPANY ACCOUNTS: {CATEGORY B}

Mainly most questions from company accounts will come from Amalgamation, Internal Reconstruction, Cash Flow etc.,

Normally in both groups 40 marks will come from these chapters.

 

ROLE OF THEORY CHAPTERS: {CATEGORY C}

Please don’t ignore theory and the misc. topics. It will help in scoring and also clearing the exams.

I observed that nearly 10-15 marks of questions are coming from ACCOUNTS IN COMPUTERISED ENVIRONMENT (Group I) and Misc (Group) II in every attempt.

So be perfect with these types of theory chapters to gain marks simply.

 

PARTNERSHIP ACCOUNTS, INCOMPLETE RECORDS, NOT FOR PROFIT ORGANIZATION: {CATEGORY D}

You can gain simply 20-25 marks these simple chapters.

I am sure that at least of 20 marks will come from this category.

 

HIRE PURCHASE, SELF BALANCING LEDGERS, DEPARTMENTAL & BRANCH ACCOUNTS: {CATEGORY E}

In both groups 15-20 marks will come under this category.

 

OTHER TOPICS: {CATEGORY F & G}

Another 10-15 marks will come from Insurance, Banking and Electricity.

Balance marks will come under Misc like Bonus, Insurance, Investment, Average Due Date etc.,

Time Table for Preparation of Accounts:

March

Category

No of Days

No of Marks

1st to 9th

A

Daily M & E

20 – 25

1st to 3rd

B

3 days

16 – 20

4th

C

1 Day

10 – 15

5th to 7th

D

3 days

20 – 25

8th to 9th

E

2 days

15 – 20

10th

F

1 day

10 – 15

11th

G

1 day

Balance

 

Like the above prepare the study schedule and time table for all the subjects and follow the time table. This would be more useful for your examinations.

By this I will conclude this topic. Friends we all know the value of even a single mark in IPCC. Please give extra effort for that single mark also. Don’t leave any question in examination hall attempt all questions. This could be possible only if you put consistent study and hard work. Then the success will be yours.

Will You Agree or Not ?

 

ALSO PLEASE SEE MY OTHER RELATED ARTICLE on the same category:

Tips for theory subjects


 38 Replies

BALU.... (CCI STUDENT....) (44614 Points)
Replied 27 February 2011

WOW great post sir ji, wonderful article.....keep sharing..

 

Bookmarked...

1 Like

Simranjeet Singh (Proprietor at S Simranjeet & Associates Company Secretaries)   (4396 Points)
Replied 27 February 2011

Good one bro........

will be helpful for all CA IPCC students......

Thanks for sharing........ keep sharing......... keep rocking CCI........

1 Like

(Guest)

very nice info..........thanks !!!!

1 Like

Tehsinkhan Pathan (CA CMA DISA(ICAI) B.COM)   (3951 Points)
Replied 27 February 2011

GOOD POST , ADVISABLE FOR IPCC STUDENTS TO FOLLOW ...............................KEEP SHARING..................

THE LINK FOR TIPS FOR THEORY SUBJECTS IS NOT WORKING.......PLEASE UPDATE THE SAME..............

1 Like

CS LLB Pulkit Gupta (https://www.facebook.com/pages/Life-and-Promises/553962034682487)   (16631 Points)
Replied 27 February 2011

Very useful for both PCC and IPCC students...

1 Like

CA Miss Naamah (N H R & Associates) (377 Points)
Replied 27 February 2011

Very useful info.... Will try it out....

1 Like

CA Madhukiran Reddy (CHARTERED ACCOUNTANT) (12714 Points)
Replied 27 February 2011

 

The Above Link Is Not Working

 

Tips for theory subjects

 

 

1 Like

Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15587 Points)
Replied 27 February 2011

Amazing Efforts, will be very helping for all Students. Many Thanks

1 Like

(Guest)

very useful post ,thanx ,i'll try 

1 Like

Sunshine (Helping All) (10575 Points)
Replied 27 February 2011

very fine analysis...keep sharing....!!

1 Like

Vikas Gupta (CHARTERED ACCOUNTANT) (16295 Points)
Replied 27 February 2011

Originally posted by : simranjeet singh

Good one bro........

will be helpful for all CA IPCC students......

Thanks for sharing........ keep sharing......... keep rocking CCI........
1 Like

(Guest)

Really useful post ...to complete AS in 15 min each day...

1 Like

Vikash Maheshwari (learner) (6358 Points)
Replied 27 February 2011

AGREE..........................100% AGREED...............

1 Like

kritika poddar (CA- FINAL student) (277 Points)
Replied 27 February 2011

please post something for theory subjects too...


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