The aim of this section is to provide general guidance as to how to study for your exams. Get CA IPCC Accounts Preparation Tips .
The guidance given herein is supplementary to the manner of study followed by you and is intended to improve your existing technique and how to improve Concentration for CA exams, as it is essential that you adopt methods and techniques with which you feel comfortable.
Passing exams is partly a matter of intellectual ability, but however accomplished you are in that respect you can improve your chances significantly by the use of appropriate study and revision techniques.
CA IPCC Accounts Preparation Tips
Previous Year Papers
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In this section, we briefly outline some tips for effective study during the earlier stages.
“Work hard until light of your study lamp becomes the spotlight of your stage.”
Know your CA-IPCC/IPC Syllabus
- Go through the syllabus carefully.
- CA-IPCC Accounts has been divided into fifteen chapters/topics based on the syllabus.
- Understand the linkages between chapters at macro-level.
- Main topics are as under :
|
Chptr.No |
Topic |
Marks |
|
1 | Accounting Standards | 20 |
|
2 | Financial Statements of Companies: Unit 1 Preparation of Financial statementsUnit 2 Cash Flow Statements | 5,8,16 |
|
3 | Profits or Losses Prior to Incorporation | 4,8 |
|
4 | Accounting for Bonus Issue | 4,8 |
|
5 | Internal Reconstruction | 8,16 |
|
6 | Amalgamation | 8,16 |
|
7 | Unit 1 Average Due DateUnit 2 Account Current | 5,8 |
|
8 | Self Balancing Ledgers | 8 |
|
9 | Financial Statements of Not for Profit Organisations | 8,16 |
|
10 | Accounts from Incomplete Records | 8,16 |
|
11 | Hire Purchase and Installment Sale Transactions | 5,8 |
|
12 | Investment Accounts | 5,8 |
|
13 | Insurance Claims for Loss of Stock and Loss of Profit | 5,8 |
|
14 | Issues in Partnership Accounts | 4,8,16 |
|
15 | Accounting in Computerized Environment | 4 |
Now See How to Get 50 Marks in CA-IPCC Accounts Easily…!
|
Chapters |
Marks |
| Accounting Standards |
20 |
| Cash Flow / Funds Flow |
8,16 |
| Amalgamation |
8,16 |
| Internal Reconstruction |
8,16 |
| Self Balancing Ledgers |
8 |
| Financial Statements of Not for Profit Organisations |
8 |
| Accounts from Incomplete Records |
8 |
| Partnership Accounts |
8 |
| Accounting in Computerized Environment |
4 |
“Focus on your goals & blur everything else.”
In above chapters,
- Accounting Standards
- Accounting in Computerized Environment
are Dam sure Chapters. You can Check last 3 years papers.so by preparing these 2 Chapters we got 24 Marks. now come to Cash Flow Statement. we have Cash Flow Statement in both Financial Accounting and Cost Accounting(FM).
ICAI Examination Board only gives Cash Flow Statement’s Question in either Accounts or Financial Management vice versa. Almost Cash/funds Flow Question is also frequently asked a question. So it is another 8 marks dam sure question.
From Amalgamation/Internal Reconstruction also we’ll face one very frequently asked question. either one of those topics we can get 16 Marks.
From below Chapters we can get 2×16 = 32 marks .
- Self Balancing Ledgers
- Financial Statements of Not for Profit Organisations
- Accounts from Incomplete Records
- Partnership Accounts
From above chapters we’ll face 2 Questions definitely and those are definitely 16 marks.so here we have a chance to get 32 marks.
That’s it..!
By following above analysis we can get 50 marks in accounts easily.
“Accountants do it without losing their BALANCE.”
How to Prepare for Accounting? Plan your Study
Here are key tips on how to prepare accounting subjects for your upcoming exam:
- Make a study plan covering the entire syllabus and then decide how much time you can allocate to the subject on daily/weekly basis.
- Allocation of time must be done keeping in view your office commitments as well as social needs and personal hobbies.
- Maintain the time balance amongst various subjects such as purely descriptive type and numerical-based papers. Allocate time in such a manner that your interest is well sustained and you are able to score well in the final examination as well.
- Always assess your preparation periodically, say, on monthly basis. If necessary, revise your plan and allocate more time for the subject in which you feel deficient.
Preparing Study Strategy
- Read, understand and assimilate each chapter.
- First of all, have an overview of the chapter to understand the broad contents and sequence of various sub-topics.
- Do the introspection while going through the chapter and ask various questions to yourself.
- Read each chapter slowly to ensure that you understand and assimilate the main concept. If need be, read once again with concentration and then try to attempt exercise at the end of the chapter or given in the Practice Manual.
- Recapitulate the main concept after going through each chapter by way of brief notes.
- Prepare notes in the manner you feel comfortable covering all key points. Use mnemonic form e.g. C V P denoting cost, valuation, and price.
- One may use highlighter/underlining the significant points or writing down in the margin.
- The fact that how well you have understood the topic is your ability to attempt the questions given in the exercises as well as in the practice manual. Make a serious attempt at producing your own answers but at this stage do not be much concern about attempting the questions in examination based conditions. In particular, at initial stages, it is more important to understand and absorb the material thoroughly rather than to observe the time limits that would apply in the actual examination conditions.
- Always try to attempt the past year exam question paper under examination conditions.
- Revision of material should never be selective in any case. Because broad coverage of the syllabus is more important than preparing 2-3 chapters exhaustively.
- Read through the text along with notes carefully. Try to remember the definition and important formulae.
“No one will remeber your last result if you make your next one great”
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