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Ipc exam strategy

simran kaur (student) (51 Points)

25 January 2015

Please someone suggest me an exam strategy to crack IPCC MAY 2015.I m referring munish bhandari's law book nd icai study material for other subjects.I have opted for a single group.As only three mnths are left.my preparation is less than poor.Plzz suggest me a strategy to excel in ipc exams.

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Vishal Varun (Student) (648 Points)
Replied 25 January 2015

Use ICAI Lectures for Studies

Make A Time Table

Follow that

Clear your concepts

Do Practise , Practise and More Practise

Try to solve Prev years Paper and RTP of subject After Completing your Syllabus of that particular Subject.

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Vishal Varun (Student) (648 Points)
Replied 25 January 2015

only you can make your strategy. So go for it

atleast study for 8hours per day

and in one day go or 2 subjects Only.

1 Practical and 1 theory subject Preferably.

Thomas (Accountant) (109 Points)
Replied 26 January 2015

1.Accounts:- First study the concept clearly,then proceed to working out sums..Eg. For Non profit organisation:- Understand and Note What items will appear on Receipt side,and what on Expenditure side...And how to treat it..Then close the book and try to recollect the concept and then start working the problems.. + Study at least 1 Accounting standard per day and refer all the problems relating to that AS. 2.Law :- Munish sir book will be crystal clear,but after reading it,please give a scan to institute book,so that u wont miss any points.. Ethics & communication :- Please study from institute book alone,Study atleast 3 pages per day..And d next day please try to recollect what u studied on previous day,before going to study dat day portion.. 3. Cost Accounting:- Divide the portion into 3 parts.. A.Material,labour,overhead. B.Non-Integrated costing,method of costing C.Standard,Marginal,Budgets.. Try to study and complete at least 1 part fully in maximum period of 10days.. Financial Management:- There are four Important chapters :- Cashflow /fundflow, Investment decision,Financing decision,Working Capital...Study at least 1 chapter every week..Sums are asked only from these four Major chapters.. 4.Tax:- Direct tax:- Start with Salary,PGBP,Capital Gains,then HP..Study at least one head per day..Aftr finishing these heads move to other small chapters.. Indirect tax:- See Nov14 q.paper and see d pattern.. Since there is only 3 months left..U hav to dedicate atlaest 12 hours per day..Get up @ 7am .Start ur first session 8am till 2pm, And second session from 3pm to 9pm..Go to bed before 11pm..

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Mradul (student) (97 Points)
Replied 27 January 2015

Originally posted by : Thomas
	1.Accounts:- First study the concept clearly,then proceed to working out sums..Eg. For Non profit organisation:- Understand and Note What items will appear on Receipt side,and what on Expenditure side...And how to treat it..Then close the book and try to recollect the concept and then start working the problems.. + Study at least 1 Accounting standard per day and refer all the problems relating to that AS. 2.Law :- Munish sir book will be crystal clear,but after reading it,please give a scan to institute book,so that u wont miss any points.. Ethics & communication :- Please study from institute book alone,Study atleast 3 pages per day..And d next day please try to recollect what u studied on previous day,before going to study dat day portion.. 3. Cost Accounting:- Divide the portion into 3 parts.. A.Material,labour,overhead. B.Non-Integrated costing,method of costing C.Standard,Marginal,Budgets.. Try to study and complete at least 1 part fully in maximum period of 10days.. Financial Management:- There are four Important chapters :- Cashflow /fundflow, Investment decision,Financing decision,Working Capital...Study at least 1 chapter every week..Sums are asked only from these four Major chapters.. 4.Tax:- Direct tax:- Start with Salary,PGBP,Capital Gains,then HP..Study at least one head per day..Aftr finishing these heads move to other small chapters.. Indirect tax:- See Nov14 q.paper and see d pattern.. Since there is only 3 months left..U hav to dedicate atlaest 12 hours per day..Get up @ 7am .Start ur first session 8am till 2pm, And second session from 3pm to 9pm..Go to bed before 11pm..

it would be highly appreciable if u plzz post for both groups..

Thomas (Accountant) (109 Points)
Replied 27 January 2015

Hey Mradul,I dont know how much of what I post is useful for you..I m just sharing the technique which I used... For Group. 2:- 1.Advance Accounting:- AS is really damn importanting.. Study all the problems related to AS from Practice Manual...Please Dont omit or Skip AS.. More than 20+ marks is surely from AS.. Divide the portion into 4 parts:- 1.Patnership Accounts (Dissolution+Amalgam+Sale) - One 16 marks is sure.. 2. Company Accounts:- Two 16 marks is sure,so u can score upto 32 marks if u study ESOP,Underwritting,Redmp of Deb,Liquidation,Amalgamation/rencostruction...So please dont skip any topics from Company Accounts chapter.. 3. Department a/c's + Branch a/c's:- One 16 mark sure .. 4. Electricity,Insurance,Bank:- You will have 16 mark Qstn from this part... Auditing:- You will have on 16 marks from Standards on Auditing.. Divide the portion into 5 parts.. 1. Vouching & Verification:- One 16 mark question sure.. 2. Company Audit:- Atleast 16 mark sure.. 3. Special Audits :- One 8 mark is sure from miscellaneous audit ,plus they may ask from Govt,local,NGO audit for extra marks.. 4.Internal control,Preparation of Audit :- You may get Questions of 12 marks- 16 marks.. 5.Nature + Basic of auditing :- You will have 4 - 8 marks.. Please Study part 1,2,3 first fully and clearly..Then go for 4,5.. Strategic Management:- Start studying in reverse order..Start with last chapters then slowly proceed to the initial chapters..Bcos more weightage will be from the last couple of chapters.. Important thing:- In SM ,maximum mark for a question will be 3 or 4 marks.. So when u study keep this in Mind.. Dat u dont have to mug up and memorise big long paragraphs.. Just 4 - 7 correct short points will be enough... Information technology:- Study Chapter 3,4,5 first,then study Chapters 1,2... Similarly While studying these chapters.. For eg :- Chapter 3 :- Telecommunication and Networks.. Study from back, i.e start from 3.13 :- Electronic fund transfer, then move to 3.12,3.11,3.10 till 3.4..You have to see that in 3.1 to 3.3 is waste just some intro..