For guys preparing for Group II Advanced Accounting,
CA IPCC Advanced Accounting (Paper V) Preparation Tips
(share this as much as possible for helping your friends)
TIPS FOR ADVANCED ACCOUNTS (IPCC) :
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
CA TIPS WISHES YOU ALL THE VERY BEST
CAclubindia
