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CA IPCC – Advanced Accounts Exam Preparation Tips

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CA IPCC – Group 2 – Advanced Accounts Preparation Tips

In CA IPCC Advanced Accounts is very easy subject compared with other subjects in  CA IPCC Group 2 and it is also a scoring subject.

Here SuperProfs is giving some preparation tips for CA Advanced Accounting Exam. By following those tips you can get easily 50 + marks in CA IPCC Exams.

ca ipcc advance accounts exam preparation tips

CA IPCC Advanced Accounts Important Questions Chapters

Paper 5: Advanced Accounting

  1. AS ( Prepare All questions in study material & PM)
  2. Insurance companies’ financial statement
  3. Banking companies financial statements
  4. Branch accounts OR Dept Accounts
  5. Advanced issue in Partnership or Amalgamation (if asked in 1st group then chances to ask by them is 70:30)

AS- 5,11,16,20 & 26, Amalgamation and conversion of partnership firm, ESOP, Buy Back (Theory most probably), Underwriting, Debenture redemption reserve, Internal Reconstruction, Insurance (Theory or P& L Account), Banking (P&L Account or Provision), Electricity (Depreciation), Foreign Branch and Liquidation.

Preparation Tips :

1) The First and foremost topic to be selected is Accounting standards which carries around 25-30 marks almost 30% of marks so concentrate more on this.. Standard wise Preference is as follows… • AS-4 • AS-5 • AS -12 • AS-20 • AS-19 • AS-26 • AS-29 • AS-16 • AS-11

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(mostly  basics will ask in exams )

2) Now take on Topics part of Company Accounts which carries overall weightage of 35-40 Marks and the topics are easy compared to partnership accounts…. Topic wise Preference is as follows

• Amalgamation and Internal Reconstruction (In this topics 16 Marks Questions are asked based on the paper asked in group I i.e if 16 Marks Q is asked from Amalgamation in Group I then in second group 16 marks or 8 marks questions are asked from Int.Reconstruction)

• Issue and Redumption of Debentures ( This topic is already covered in Group I i.e AS-13 so students who passed Group I can just revise it once it is sufficient)

• Liquidation of Companies (problems are based on Prescribed formats)

• Buy Back of shares

• ESOP’s

3) Now If you are confident of doing Partnership Accounts you can go ahead but it is better to choose Accounting for Banks, Insurance , Electricity as these also cover up to 15-20 marks Preparation for this chapters is it is advisable to thoroughly prepare problems of the model asked in previous years (scanner) and Practice Manual

Tip: Don’t waste time preparing lengthy formats as those are not of that relevance

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4) Now it is better to choose Partnership Accounts which carries weightage of 16 marks

5) As a final step prepare Branch and Departmental accounts carries weightage of 6-8 Marks

Overall Tip: If you are short of time you can prepare the topics up to Step 3 Above it is sufficient if u prepare them thoroughly.

You can watch a few demo lectures by SuperProfs for CA and see if you would want to consider subscribing to our video series for a better shot at clearing the CA Examination.

These demo videos will throw light on more areas on the advance accounting subject, subscribe to unlock the doors to success in the CA final examination!

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Also Read :

How To Prepare For Accounting And Advanced Accounting: CA Intermediate

CA IPCC Mock Test Papers With Answers


1 Comment
  1. vyshnava sai says

    is mandatory to prepare issue and redumption of debentures

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