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Ipcc prepration????

Saurabh Goyal (CA Final) (393 Points)

01 August 2012

I have registered for both groups of IPCC and will soon get my books from the regional office.I have decided to go for self study only and have decided to go for 6-8 hrs daily .SO as to complete all syllabus in 6 months .so as to have enough time for revision.....Now i'll be really grateful if someone can tell how i should plan my daily study(STUDY PLAN)....and how many subjects to study daily....

Also tell which subjects need more time.?????

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6 Replies

salim (-) (26 Points)
Replied 01 August 2012

premium on pref.shares to be considered in realisation a\c while closing the books of selling co? pls help me out soon......

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PLAN GIVEN HERE UNDER WAS A PLAN FOR IPCC NOV 2012 ATTEMPT FOR APPX 4 MONTHS. YOU CAN MAKE NECESSARY MODIFICATIONS & ADD YOUR ADDITIONAL 2 MONTHS FOR COVERING SOME TEXT BOOKS & DOING ADDITIONAL ILLUSTRATIONS & THEORY QUESTIONS & ONE MORE ROUND OF REVISION

TO ALL STUDENTS GOING FOR IPCC IN NOVEMBER 2012

Some Thing What I Tell my Class Room Students I thought of Sharing on this Portal for all.

First remove the thought of Only one group, Go for Both groups.

Prepare a further Time table for 600 - 700 hours of devoted studies to be completed by 31^st October 2012.( Starting 01.07.2011 You have 123 days upto 31.10.2012,Remove 3 days for yourself to get into the atmosphere of studies.

7 Subjects (You can consider as 6 Sub) As IPCC Accounts I & II is a breakup of the One

Accounts Paper of PE2 / PCC & also some Topics very basic of Graduation level & cash Flow common in FM

90 Days (01-07-2012 to 30thSept 2012) X 7 Hrs = 630 Hrs.

31 Days ( 01^st October – 31^st October/2012) x 10 Hrs = 310 Hrs

ACCOUNTS (60Hrs Ist Round ) : We broadly speaking have about 10 – 12 Topics, Taking 10 Illustrations per Topic, it would be 120 Illus. Avg 30mins per illust = 60Hrs ( Ist Round )

Costing & FM : Advised to first do theory as It will help in understanding the Concepts for practical sums also & you will be done with 25% of your practical sylbs ,( eg ; If you read theory of Labour All methods of calculaton of Wages will be understood, Material Formulas will be known, Contract A/c Ways of calculating the Profit will be understood…… So now it is clear Why Theory should be done first, & its Importance in this subject) If you are too good at Concepts & Practical then only Ignoring thorough study of theory can be thought else for average / bit above average student, Practical with Proper study of theory only can Pass with 45 – 55 marks in this subject.

Costing & FM (Total 60 Hrs Ist Round): Theory to study from Past 10 Attempt Papers & Practice Manuals.Taking an average speed of 12 Pgs / Hr, covering 1 attempt paper ( Only Theory Part ) would not take more 1 hour So 10 Attempts 10 Hrs ( Ist Round Theory )

Costing : (Broadly 8 – 9 Topics) : Take only 5 – 6 questions from Topics like Material, Contract, Integrated Reco , say 4 topics x 5 ques x Avg 20 Mns = 400 mns + 20 ms conti = 420mn = 7 Hrs Other Bal Topics Take appx 10 Ques each + 5 Topics x 10quest = 50quest x 30mn = 25 Hrs ( Ist round ) F M : ( Broadly 5 Topics ) : Cash Flow common in A/c & FM.& Inventory Mgmt common with Materials in Costing 10 Ques x 5 Topics = 50 x 30 min = 1500 mns = 25 Hrs (Ist round)

TAX ( Total 85 Hrs Ist round) : Finish with VAT / Srvc Tax Theory first, @ 12 pgs /Hr, with 100 pgs of Srvc tax & 50 Pgs = 150 pgs /12 = appx 12 hrs 5 Heads of Income (Practical Sums @ avg 20 mns / sum except BP 30 mins / sum): Salary 10 Hrs / HP 5 hrs / CG 5Hrs / BP 20 Hrs / OS 5Hrs/ C/f & S/off 2 Hrs. TDS/Adv Tax & Misc topics 10 Hrs / Contigency 3 hrs = 60 Hrs ( You would hv done with appx 100 sums in all ) Finish with Theory of Basic Concepts & other topics @ 12pgs/hr appx 150 pgs = 12 hrs

LAW ( Total 60Hrs) : First finish with Ethics Followed by Allied laws & then Co Law ( CL do simultaneously with Audit it will be helpful) Considering the Fatigue factor only 9 pg/hr covered 450pgs = 50 Hrs + 10Hrs Cntgncy = 60Hrs LAW should be done smtnsly with some Practical subject of your Interest which will keep you less bored of Reading Law ( Don’t Mugup but in case law based quest try & understand the case & the quest & twist in it properly & then read the ans. Case based quest should be taken after Theory & concepts )

AUDIT : (Total 50 Hrs) : First finish with special Audits ( Audit of Hospital/Schools/Cinemas/Hotels Etc Dont mugup this topic Read with an open mind & Understanding that you are a CA & doing the Audit what you would check & How, what should be the Primary docs to get the required information etc ? & you will find that every Special audit would have say appx 10 points of which 4 – 5 points would be common. Also this being more a practical type of Topic you will find interesting

The Docs of Formation i.e Memo & A of A / Partnership Deed / Trust deed etc), Check the authorities given as per the doc / Powers / Policies etc ) excluding such other 5 points would be different with every different entity based on the area of business in which it is. Eg in case of schools You say check Fees Receipts / Purchase of Books/ Deposits & fines taken from Stus. Incase of Hotels say how control is kept on the Issue of Food items & provisions to kitchen is maintained, How is the billing control of Rooms maintained etc. You read all type of special Audits ( Ist reading do carefully with understanding & no mugging (Ratta) taking 30 mins per audit & you will find that you need not revise it again) Then proceed to Vouching & Investigation & then further proceed to other topics. Say there are about 450 Pgs & Here you can read 12 Pgs / Hr + 10 Hrs Cntgncy = 50 Hrs

ITSM ( Total 100 Hrs ) ( I know it is the favourite subject for students & ICAI ) (Students who like it & Interested its fav for him to score & for others its fav for ICAI to give 39 marks)

Infm Tech : Read Read & Read. Read Practice Manuals & Past 5 years ( 10 attempts Papers) Papers atleast 3 Times ( Don’t Try the ICAI Module now as its very Volumous to complete. Possibly don’t even try any private Classes Material else its your choice. Only PM & Past Papers Minimum 10 - 12 attempts will save you )

S M : Read Study Material of ICAI one reading ( its Appx 150 Pgs to read) Then Same as IT Past 10 – 12 attempt Papers & Practice Manual atleast 3 times ITSM give atleast 100 hrs for Students who are weak here & for students who are Techno savvy & Interested can finish this in lesser time.

Adding all the above Total Hours consumed for Ist Round is

Given Study Time 90 Day x 7 Hrs upto 30^th Sept 2012 =

Appx 415 Hrs @ 7 Hrs /Day = 60 days

Still Left with @ 7 Hrs /day 30 days ( 210 Hrs Do the same process as above but with More emphasis on Things which you must have felt tough during Ist Round)

WITH THE ABOVE YOU ARE DONE WITH 2 ROUNDS BY 30^th SEPTEMBER 2012

LEFT WITH 31 DAYS OF OCTOBER 2012 @ 10 HRS = 310 HRS

Write the papers

1^st – 10^th Oct 2012 10 days x 10 hrs = 100 hrs take 3.5 hrs per paper you can do 28 papers you have 7 subjects i.e 4 papers per subjects say 1 each from 2011/2010/2009/2008 from past exams. Here incase U finding difficulty in solving any quest you may refer the solution. Here Pls give due Importance in learning to Reading the quest to its correct meaning as quest sounds different but means different.

11^th – 20^th Oct 2012 same as above but take Only 3 hours per paper & stop after 3 hours do 5 papers per subject from 2011 / 2010 / 2009 / 2008 / 2007 ( Exclude the Papers Taken above. You may take 2/3 same if you wish so but not all.)

21^st – 31^st ( 11 days ) Same as Above But on 21^st analyse you weak points of the 2 rounds of the Papers Taken Revise those for 2 days & other 7 days take 2 subjects 2 Papers a day(4 Papers a day) strict 2hrs 45 mins target for answering & while writing Not to refer the Solutions This will build confidence & also during exams you speed remains & papers completed in Time. Here you will do 28 papers still left 2 days ( 11 days – 2days revision 7 days papers ) This 2 days see where you are still weak ( I am sure You would not be weak anywhere except health) & do that.

FRIENDS YOU ARE READY TO TAKE THE EXAMS WITH FULL CONFIDENCE

THANK ICAI FOR GIVING YOU HOLIDAY BEFORE EVERY PAPER. HERE STUDY AFTER COMING FROM EXAM SAME DAY FOR ATLEAST 4 HOURS DO WITH YOUR WEAK AREAS YOU FEEL FOR THE NEXT PAPER, & ON THE NEXT DAY 12 HOURS TARGET FINISHING THE Practice Manual.

FRIENDS IF YOU CAN FOLLOW THIS SCHEDULE. THEN ANY ONE HERE CAN TELL ME WITH A JUSTIFIED REASON HOW CAN YOU FAIL

ABOVE TIME TABLE IS MADE KEEPING IN VIEW A SELF STUDY STUDENT, HOWEVER MAJORITY STIDENTS MUST HAVE DONE CLASSES SO IT WOULD BE MORE SIMPLE FOR THOSE STUDENTS

HAPPY READING & ALL THE BEST FOR YOUR EXAMS

LAST BUT NOT THE LEAST

ANY STUDENT OF OUR CLASSES OR EVEN OTHERS NEEDS ANY HELP REGARDING STUDIES DURING THIS SCHEDULE CAN CALL ME

C A COACHING CLASSES ( MUMBAI)

CHANDRAKANT

9819408963

Check the Planning & you have completed 3 rounds of Revision Both Groups & that too 2 days before the exams. Now you yourself decide How can you not pass easily. but condition stick to the schedule

Should you need any further help you can mail me on

castudyhouse @ yahoo.com or cacoachingclasses @ gmail.com

ANY MISTAKE HAPPENED IN ABOVE PLANNING OR CALCULATIONS PLS CORRECT ME & I SHALL BE HIGHLY THANKFUL FOR IT & INCASE ANY ONE HAS ANY BETTER SUGGESTIONS PLS THEY ARE WELCOME

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