CA Tips

Important Tips and Suggestions for CA-Intermediate (IPCC) Students

Few important tips & suggestions for all subjects of CA-Inter:

Paper 1: Accounting

  1. Start with AS, there will surely 10-15 marks paper out of it. First read it from your material or book whatever you had and in last for practice please do all question of Study Material & Practice Manual issues by ICAI.
  2. Than do small Chapters & topics like Managerial Remuneration, Pre & Post Incorporation, Average Due Date & Account Current and Bonus Issue ( 8-12 Marks question will be surely out of it. ) Also read out and do question from Practice Manual.
  3. Now you can do Chapter like Investment Accounts, Incomplete Records, Financial Statements of NPO, Self Balancing Ledgers, Insurance Claims (This topics are easiest as well scoring topics and cover around 16-20 marks) Again just go through the Practice Manual Questions.
  4. Now do Internal Reconstruction, Amalgamation & Partnership receptively. ( Covers 30-40 Marks )
  5. In last do Hire Purchase as it is lengthy topic and many students find difficult to do this chapter, so if you have time than do otherwise just read out the question from Practice Manual. You can leave this question in choice also.
  6. Finally do theory from Practice Manual as theory questions will be repeated in all exams, so do all theory questions from PM. And start with “Computerized Environment”.

Paper 2: Business Laws, Ethics & Communication

  1. Start with ethics most easiest and scoring topic. You can do it from notes which i provided or your own book. Fast reading of all question in Practice Manual is enough. Minimum weightage is of 20 marks.
  2. Now you can do Communication as it is also easy do theory part first and left deeds and documents part for exam days. You should do all deeds from module and left out last 2 attempt deeds. And please read all questions from Practice Manual.
  3. Now move to Company law; do Meetings, MoA, AoA , Conversion of Pvt. to public Co. or vise- versa , Prospectus, Membership first than move to other topics of Companies Act. Better to do all questions from Practice Manual as many question will be repeated.
  4. Now do small topics like Payment of Bonus Act, EPF & Misc. Provisions Act, Payment of Gratuity. This are easiest topics and surely of 15-18 marks. Make sure you do all Practice Manual questions.
  5. In last do Contract Act and Negotiable Act. In Contract Act do Bailment 1st than all other topics. And negotiable act is too lenghty than you can do all question of practice manual only because it is of 5 marks only.

Paper 3: Cost Accounting & Financial Management
Part A: Cost Accounting

  1. Without a doubt you should do Standard & Marginal Costing in starting. Not even a single theory question asked from this two topics so just concentrate on practical questions. Try to make your own notes or summary of all formula as this chapters based on formula only. Around 16-20 marks covered by this two topics.
  2. Now you should do Contract, Process , Equivalent, Budgetary & Operating Costing. This topics again cover 16-20 marks. Theory will come from Budgetary & Operating only. Better to go through Practice Manual also as sometimes not exact but of same pattern question comes in exam.
  3. Now you should do small topics like Material, Labour & Overhead . Mainly question comes from Direct Material like EOQ, Re-order level etc. Don’t waste much time on Labour & Overhead as they are lengthy as well as not questions not frequently asked from this topics.
  4. Now do this 3 topics from Practice Manual only because question get repeated in this topics: Non Integrated, Integrated Account & Reconciliation of Cost & Financial Accounts.
  5. Generally 16 marks theory questions asked in exam.

Part B : Financial Management:

  1. You should start with Capital Budgeting and than Cost of Capital this both chapters covers 16-20 marks easily, mainly practical question comes from this chapters so don’t waste time on reading theory. If anyone not interested in doing material which he/she have than just do all question from practice manual of this topic.
  2. Now you should do leverage , Ratios & Working Capital Management. This topic are easiest as well scoring topics. This covers again around 20 marks minimum and both practical & theory questions asked from it. Do this topics properly from your books which u have than do question from Practice Manual and mainly theory questions comes from Practice manual only.
  3. Than do Cash Flow Statement & Fund Flow Statement, as we studied this topics earlier so do it fast and don’t waste much time both theory and practical questions may be asked. Marks covered around 8 but sometimes 16 marks big question also asked so prepared for it.
  4. Now do theory properly as this paper contain good questions of theory & overall theory asked in the question paper is minimum of 30-32 marks out of which 16-20 mark’s theary is from Financial Management. Important topics for theory are Basic Chapter, Ratios (Importance & Limitation), Types of Financing, Management of Debtors etc. (Make sure once you read all theory question in Practice Manual.)

Paper 4: Taxation

  1. Without any doubt and hesitation start VAT & Service Tax. VAT is easiest topic just read it properly and do practical questions also. After reading from book in last just go through the Practice Manual. In service tax do properly as there are lots of amendments and please do buy new Practice Manual of Tax from ICAI Branch and do all questions properly from it I am sure there will be many questions straight away from Practice Manual (recently issued on ICAI website as well). Marks covered by this two topics are around 50 marks.
  2. In Income tax start with Business & Profession because as early as you finish this chapter you will feel relaxed. Now do Salary, House Property, Capital Gain.. Do questions of Capital Gain & Other sources from Practice Manual. This topic cover around 30 marks out of 50 marks portion of Income-tax.
  3. Now do small & easy topics like Deductions, TDS, Procedure of filing returns etc. there will we 8-12 marks questions from this topics.
  4. Now do Set-off & Carry forward & other small topics, theory questions may be asked from this topics so read it properly.

Paper 5: Advanced Accounting

  1. Start with AS, there will surely 8-12 marks paper out of it. First read it from your material or book whatever you had and in last for practice please do all question of Study Material & Practice Manual issues by ICAI.
  2. Do chapter Electricity, Banking & Insurance. Marks covered by this chapter 16-24 marks. Just do all Questions & Examples of Module & Practice Manual no question will be asked outside that.
  3. Now do topics like Buy Back, Underwriting, ESOP. Marks covered is 8-12. Most easiest topics.
  4. Now do Branch Accounts & Departmental Accounting. There will be surely question out of this topic may be ranging from 10-16 marks. So prepare well and 1st do Branch & than Department. Question comes on alternative basis mostly time. Refer Practice Manual for this topics.
  5. Now do Partnership Accounting 16 marks question surely out of that. So prepare well.
  6. Now do Internal Reconstruction & Amalgamation. Marks covered 16 minimum. I am saying to do this topic in end as we already studied this in Group 1 Accounts and there are some points which are same so will be confident in this topic.
  7. In last to Redemption of Debenture as I heard many students not like this topic at all. Even not much weightage for this chapter you can left out in choice also.

Paper 6: Auditing

  1. Friends start with Company Audit I & II, as there are many topics which are common in law & audit. So its easy to start with this chapters. Marks covered 24-32. This include CARO also.
  2. Now do special Audit my suggestion is that please do this topic from ICAI module as if you write in thta language you will get goods marks. And do practice manual also for this topic. Questions get repeated. Marks covered 8-12.
  3. Now do chapters like Basic Concepts of Auditing, Nature of Auditing & Preparation of Audit. This are easy chapters and generally straight forward questions asked from this chapters.
  4. Marks covered 20-24.
  5. Now do SA’s. Friend practically saying its not possible to remember inner content of all SA’s so my suggestion is that remember Title of all SA’s and read them like novels and do past examination questions from Practice Manual. Marks covered around 16.
  6. Now do Internal Control chapter do it properly as 8 marks question surely out of this chapter.
  7. In last do Vouching & Verification topic. Marks covered 12-16. Friends u can’t remember all points to do proper concentration on some topics which are important according to you and read out all remaining points. Some important topics are – Audit of Cash Transactions, Payment of Dividend, Audit of Purchase, Reason for lower Gross profit etc.
  8. Remember friends many times questions asked from Accounting standards also so don’t get shocked with it. May be around 8 marks question comes out of AS.

Paper 7: Information Technology & Strategic Management
Part A: Information Technology [50 marks]:

  1. Start with Data Storage, Retrieval & DBMS this chapter is easy in comparison to other chapters and have good weight-age also. So do this first.
  2. Now do flowchart and Decision table marks covered 8-10. Do all illustrations from module and questions of Practice Manual because question will be out of that.
  3. Now do Internet and Other Technology, many topics also easy under this chapter and scoring also. So do it properly.
  4. Now do Software and Computer Network & Network Security chapter this chapters are heavy i.e. have lots of topic. So try to cover as much as you can.
  5. Now do Chapter 1 most probable 2 marks definitions will be out of this chapter. So do all previous exam questions of this questions.

Part B: Strategic Management [50 marks]:

  1. Friends in this subject you should do Practice Manual first as if once you do it around 70% course will be covered. I am saying practice manual because it is easy to read topics in question format rather than paragraphs. And generally questions get repeated in SM may be in different way but asked earlier exam questions.
  2. Now start reading chapters from module in reverse order means start from Chapter 7. Language of module is easy so you can read from it.
  3. Do all chapter end questions from module because true & false many times comes out of it. So better to go through that.

Super-tip: Important tip is that you should do practice manual as well as RTP.

45 thoughts on “Important Tips and Suggestions for CA-Intermediate (IPCC) Students

  1. thanks a lot….u guys are really helping us….that reduces our tension and gives self confidence…thank you once again…

    • In total there will be compusory questions of 100 marks but with option they can asked a question which we have option to leave. so by adding the same there will be total of 120 marks per subject.

  2. hello,,, dear.. audit me vikass kapoor ki classes par jo provide hai wo kitne suficent rahengi high marks obtain me

  3. tanx a ton for all ur strategies…. but as per my knowledge some of the topics deleted from information technology. why did u mentioned deleted topics also here ?

  4. hi, i am confused for IPCC , i have soo many doubts,
    i am working in PNB and want to do clear IPCC . Can i do IPCC by self study without enrolling anywhere? i.e. without leaving my bank job.

    My qualifications -MCA,
    so will i get exemptions for ITT(information tech training) as i am MCA(master in computer applicationS) and Orientation program??
    And for articleship also will my Bank job covers articleship(i.e. i dont have to leave my banking job) ??

    • * IPCC can be completed with self-study with recommended reference books. You just need to registered yourself with ICAI. In that case you can do job as well and alongwith you can continue your job as it is.
      * You cannot avail exemptions from some mandatory trainings like ITT and OP.
      * Your bank job tanure will not at all covered in Articleship training, you must complete articleship for eligibility to give CA-Final.
      I hope my answers to your queries are clear.

  5. Thanksss a ton bhavin..
    plzz keep posting nd updating us..
    well i think m a bit late to read this post..
    Xms are on head and not really did anything..:(

  6. I have cleared my ipcc group 1 with exemption in accounts. I studied only from practice manual thoroughly. Can i do the same for advanced accounting also or do i need to refer other books as well..???

  7. plz give suggestion //////for me
    i was prepared paper 7 of IPCC…. in —-i took a chose Data Storage, Retrieval & DBMS chapter ……………is it correct????

  8. thank you very much…it helped me to build up my confidence again nd i m trying again without getting nervous…thnx again…..!!!!:)

  9. Hey,
    Bhavin i am preparing for nov attempt 2013 please suggest me how to prepare for it as everyday i am not able to study .my daily tuitions are abt 6-7 hrs !!!
    Waiting for ur reply
    Or mail me at the above given mail id .

  10. Thanks a lot Bhavin :) You are doing sucha wonderful job !!:)Can u do me a favour please? Kindly mail me the notes of IPCC naa whichever subjects u’ve got!! My id is…I would be really grateful to yew!!

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