Get CA IPCC Accounts Preparation Tips to get Pass Marks (50+ marks) and Get Accounts Paper Exemption. Today CaCmaCsGuru Team providing the complete guide about HOW TO GET EXEMPTION IN CA IPCC ACCOUNTS subject. Get 50+ Marks in CA IPCC Accounts Nov 2016 Exam. We’ve already provided CA IPCC Accounts Notes pdf & Study material for Nov 2016. In this section we briefly outline CA IPCC Accounts preparation tips for effective study during the earlier stages. Get Tips to Pass CA IPCC Accounts exam in 1st Attempt. Here we mentioned about How to prepare Amalgamation in CA IPCC Accounts, Partnership Accounts in CA IPCC Group 1, How to score pass marks in CA IPCC Group 1 accounts in Nov 2016 exam. Every CA IPCC Student feels that Getting Pass Marks or Exemption in CA IPCC Group 1 Accounts is very difficult but it’s not true. Any student can pass CA IPCC Accounts Exam easily if he follows below exam tips.
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Hard work is very important to pass CA Exams. But only Hard Work is not enough to pass CA exams. Sometimes we have to do Smart Work.
- Go through the syllabus carefully.
- CA-IPCC Accounts has been divided in fifteen chapters/topics based on syllabus.
- Understand the linkages between chapters at macro-level.
- Main topics are as under:
Tips to Get 50+ marks in CA IPCC Accounts – Nov 2016
|2||Financial Statements of Companies: Unit 1 Preparation of Financial statements Unit 2 Cash Flow Statements||5,8,16|
|3||Profits or Losses Prior to Incorporation||4,8|
|4||Accounting for Bonus Issue||4,8|
|7||Unit 1 Average Due Date Unit 2 Account Current||5,8|
|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|
|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
|Cash Flow / Funds Flow||8,16|
|Financial Statements of Not for Profit Organizations||8|
|Accounts from Incomplete Records||8|
|Accounting in Computerized Environment
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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 vise versa. Almost Cash/funds Flow Question is also frequently asked 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.
CA IPCC Accounts Preparation Tips to Pass Exam & To get Exemption
By following above analysis, we can get 50 marks in accounts easily.
Last minute revision topics & Important tips for (Accounts – IPCC) – Group I
Solve previous question and examples of Study material of AS. (10-12 MARKS)
For previous year papers you can use scanner or practice manuals.
- Amalgamation and once read out journal Entries of Internal Reconstruction. (16 Marks)
- Cash Flow Statement – (8 Marks)
- Bonus Issue & Incomplete Record (12-16 Marks)
- Account current & theory chapter specially focus on Prepackage software topic. (4-10 marks)
- Read out Format of Rev. Schedule VI properly. Now called as schedule iii
- In partnership accounting read question properly in first 15 minutes itself and make sure it will not waste your time otherwise you will not be able to attempt whole paper.
- Start each answer from new page.
- Solve all sub parts of one question at same place.
- Make proper formats and headings
- make proper working notes it plays a vital role in step marking. whatever calculation you do name it as working note.
- if you are using any formula in your solution then first write it and after that put numbers or figures in it. This will show your knowledge about formulae
- Always do RTP’s
Topics that you can’t miss in IPCC Accounts
1. AS – 2,7,9 and 10 (8-10 marks)
2. Theory question on Revised Schedule. VI (Treatment on some of the particular item). (4 Marks)
3. Theory Question on Managerial Remuneration. (4 Marks)
4. Cash Flow Statement (8 marks)
5. Average Due Date/ Account Current (5-8 Marks)
6. Amalgamation and Internal Reconstruction (16 Marks ).
7. Bonus Issue (5-8 Marks)
8. Incomplete Records (8 Marks)
9. Accounting treatment of Goodwill in case of changing in profit sharing Ratio (5 marks)
10. 16 Marks Question from the Partnership chapter.
11. Pre – packaging software or Customized accounting packages
Plan your Study for CA IPCC Accounts Preparation
- 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.
CA IPCC Accounts Paper 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 examination 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.
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