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PAPER V ADVANCED ACCOUNTING This paper is the most easy in the second group and a scoring one Practice is essential thing for success in this paper This paper can be divided into four parts Accounting Standards(40%) Company Accounts(25%) Format Accounts(25%) Partnership Accounts(10%)
Part I
Accounting standards carries 20-25 Marks at least two readings are necessary and solve the questions from previous years Question Papers
Now take on Amalgamation and Internal Reconstruction
Part II This part is scoring area and you are required to be thorough with the entries to be passed in different situations The chapters in this part are
Underwriting of Shares Redemption of Debentures (Similar to AS-13 in Grp I) Buy Back of Shares Liquidation of Companies Part III This part is little bit difficult to study but you need to study. In this part you can prepare for the concepts which are already asked in previous exams that is enough to score 20% out of 30% questions asked in the exam Part IV
Now Take on Partnership accounts this is advanced issues in Partnership Accounts and should be discussed with friends who have attended coaching classes in extreme case. Try to understand the concepts and apply them in the problems asked.
PAPER VI AUDITING Auditing paper is easy one but reading number of times possible enables you to score better other subjects are also related in Auditing like Accounts and Law so be sure to refer them when u come across the related provisions. Auditing Preparation can be done as follows Start your Preparation with First Three Chapters and read SA’s along with these chapters this part is very crucial in this subject Now take on Company Audit I and II Now Start Special Audits Now do Vouching and Verification Now read Internal Control System
PAPER VII IT and SM This paper is felt difficult by many of the students and it is not so and the only reason is lack of interest to study the subject especially IT Believe me if you show interest it will be very easy for you to score better in this paper It is advised to prepare from Class Notes or any other short or Point wise notes as you can remember well try to prepare from presentations i.e visually interesting way. INFORMATION TECHNOLOGY Coming to the Chapters and order of Preparation for Information Technology Now Move on to Internet and Networks Now take on DBMS Now prepare for Flow Charts Now Read Software Concentrate on Short Questions in every chapter
STRATEGIC MANAGEMENT
Give 2-3 readings and understand the concepts better to prepare from class notes and reference books don’t leave Previous Questions in this subject SP
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CA IPCC IT and SM Preparation Tips: Weightage of Marks Information Technology – 50-55 Marks Strategic Management – 45-50 Marks Weightage for Type of Questions Objective and Short answer type (1-2 marks) – 18-20 Marks (all are from basics like Definitions even true or false questions , MCQ , Fill in the Blanks are also asked , This is an easy scoring area) Theoritical Questions – 70-75 Marks ( 30-35 % of the Questions are asked from Practice Manual, No Need of Full Exact Text of the answer just remember the concept you can elaborate) Note: Cover almost every Question in the Practice Manual Practical Questions (Flow Charts) – 8 Marks Now Let’s Move on to Information Technology … From the Analysis of Past Papers it Is observed that IT carries weightage of 50-55 marks it is not that easy to score marks in this subject but nothing is impossible if proper planning is made and the knowledge of exam pattern makes you succeed Preparation for IT can be planned like this… 1. First Concentrate on all the definitions and short questions including abbreviations as these cover to the extent of 20% of the marks ( 10 out of 50) , these questions are asked from everywhere no specific areas 2. Now Come on to the Flowcharts which also carries 16% (8 out of 50) considerable portion But if you are not confident of this Topic don’t waste time on this as this concept is very wide. Move on to others 3. After the above one or both the steps come on to Database Management system which carries 25-30 % (12-15 marks out of 50) weightage Concentrate more it is relatively easier than other topics which carry more weightage
4. Now if you have done the above steps you have covered considerable portion i.e 35% of the total weightage after this the preferred chapters are Networks and security , Internet Note : First Three Steps are well enough if are short of time or want to allot time to other subjects but don’t trust ICAI especially in IT So have a basic idea of the major concepts it will be enough ,this is in extreme case Now Let’s Look at Strategic Management In Strategic Management it is easy to score marks as it is easy to understand and it is very interesting Coming to Preference of chapters .. it is better to follow the order as in the Study Material however the following order may be adopted if you have listened to classes thoroughly as you have the basic idea of the objective of the subject.. 1. First take on the first two chapters i.e Business Environment and SM Process this gives you the idea of the overall subject and also carries a weightage of 21-24 % ( 10-14 marks out of 50 ) 2. Now you can choose the chapters from remaining as all are steps of the strategic management process however considering the weightage of the marks the following order may be preferred a. Strategic Implementation b. Strategic formulation c. Strategic Analysis d. Strategic Edge Overall Tip : It is worth concentrating more on Strategic Management rather than wasting time on the chapters that doesn’t get you more marks (as in Step 4 above ) but a basic idea is required as a CA student
CA IPCC Advanced Accounting (Paper V) Preparation Tips (share this as much as possible for helping your friends) Advanced Accounting is very easy subject compared with other subjects in Second Group and it is also a scoring subject… Preparation for Advanced accounting can be planned as follows… 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 (only basics are asked)
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 Amalgmn 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 upto 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 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 upto Step 3 Above it is sufficient if u prepare them thoroughly Wish You all good luck in your Preparation SP
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Part I
Accounting standards carries 20-25 Marks at least two readings are necessary and solve the questions from previous years Question Papers
Now take on Amalgamation and Internal Reconstruction
Part II This part is scoring area and you are required to be thorough with the entries to be passed in different situations The chapters in this part are
Underwriting of Shares Redemption of Debentures (Similar to AS-13 in Grp I) Buy Back of Shares Liquidation of Companies Part III This part is little bit difficult to study but you need to study. In this part you can prepare for the concepts which are already asked in previous exams that is enough to score 20% out of 30% questions asked in the exam Part IV
Now Take on Partnership accounts this is advanced issues in Partnership Accounts and should be discussed with friends who have attended coaching classes in extreme case. Try to understand the concepts and apply them in the problems asked.
PAPER VI AUDITING Auditing paper is easy one but reading number of times possible enables you to score better other subjects are also related in Auditing like Accounts and Law so be sure to refer them when u come across the related provisions. Auditing Preparation can be done as follows Start your Preparation with First Three Chapters and read SA’s along with these chapters this part is very crucial in this subject Now take on Company Audit I and II Now Start Special Audits Now do Vouching and Verification Now read Internal Control System
PAPER VII IT and SM This paper is felt difficult by many of the students and it is not so and the only reason is lack of interest to study the subject especially IT Believe me if you show interest it will be very easy for you to score better in this paper It is advised to prepare from Class Notes or any other short or Point wise notes as you can remember well try to prepare from presentations i.e visually interesting way. INFORMATION TECHNOLOGY Coming to the Chapters and order of Preparation for Information Technology Now Move on to Internet and Networks Now take on DBMS Now prepare for Flow Charts Now Read Software Concentrate on Short Questions in every chapter
STRATEGIC MANAGEMENT
Give 2-3 readings and understand the concepts better to prepare from class notes and reference books don’t leave Previous Questions in this subject SP
26
CA IPCC IT and SM Preparation Tips: Weightage of Marks Information Technology – 50-55 Marks Strategic Management – 45-50 Marks Weightage for Type of Questions Objective and Short answer type (1-2 marks) – 18-20 Marks (all are from basics like Definitions even true or false questions , MCQ , Fill in the Blanks are also asked , This is an easy scoring area) Theoritical Questions – 70-75 Marks ( 30-35 % of the Questions are asked from Practice Manual, No Need of Full Exact Text of the answer just remember the concept you can elaborate) Note: Cover almost every Question in the Practice Manual Practical Questions (Flow Charts) – 8 Marks Now Let’s Move on to Information Technology … From the Analysis of Past Papers it Is observed that IT carries weightage of 50-55 marks it is not that easy to score marks in this subject but nothing is impossible if proper planning is made and the knowledge of exam pattern makes you succeed Preparation for IT can be planned like this… 1. First Concentrate on all the definitions and short questions including abbreviations as these cover to the extent of 20% of the marks ( 10 out of 50) , these questions are asked from everywhere no specific areas 2. Now Come on to the Flowcharts which also carries 16% (8 out of 50) considerable portion But if you are not confident of this Topic don’t waste time on this as this concept is very wide. Move on to others 3. After the above one or both the steps come on to Database Management system which carries 25-30 % (12-15 marks out of 50) weightage Concentrate more it is relatively easier than other topics which carry more weightage
4. Now if you have done the above steps you have covered considerable portion i.e 35% of the total weightage after this the preferred chapters are Networks and security , Internet Note : First Three Steps are well enough if are short of time or want to allot time to other subjects but don’t trust ICAI especially in IT So have a basic idea of the major concepts it will be enough ,this is in extreme case Now Let’s Look at Strategic Management In Strategic Management it is easy to score marks as it is easy to understand and it is very interesting Coming to Preference of chapters .. it is better to follow the order as in the Study Material however the following order may be adopted if you have listened to classes thoroughly as you have the basic idea of the objective of the subject.. 1. First take on the first two chapters i.e Business Environment and SM Process this gives you the idea of the overall subject and also carries a weightage of 21-24 % ( 10-14 marks out of 50 ) 2. Now you can choose the chapters from remaining as all are steps of the strategic management process however considering the weightage of the marks the following order may be preferred a. Strategic Implementation b. Strategic formulation c. Strategic Analysis d. Strategic Edge Overall Tip : It is worth concentrating more on Strategic Management rather than wasting time on the chapters that doesn’t get you more marks (as in Step 4 above ) but a basic idea is required as a CA student
CA IPCC Advanced Accounting (Paper V) Preparation Tips (share this as much as possible for helping your friends) Advanced Accounting is very easy subject compared with other subjects in Second Group and it is also a scoring subject… Preparation for Advanced accounting can be planned as follows… 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 (only basics are asked)
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 Amalgmn 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 upto 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 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 upto Step 3 Above it is sufficient if u prepare them thoroughly Wish You all good luck in your Preparation SP
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