Important Topics – [CA-IPCC – Group 1 : November 2013 Exams] - Top 5 Chapters
For those who are preparing for IPC November 2013, take a look at the article which can help you in studies. Sharing an article with some important areas of syllabus alongwith tips and recommendations.
1. Partnership Accounts
2. Not-for-profit organizations
3. Amalgamation
4. Hire purchase and installment system
5. Single Entry System (Accounting from incomplete records)
Super tips:
· Accounts has much portion of accounting standards. For accounting standard questions, give reference to the related accounting standard before computing the sum. Also give brief about the point asked in question before computing the final answer.
· Draw the accounts very neatly and cleanly. Do the totals wherever needed and write full headings for each accounts.
· Even if u don’t know any answer, just draw the format and write its heading. It can fetch u 1 mark even and for CA exams, every mark is important.
PAPER 2
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BUSINESS LAWS, ETHICS AND COMMUNICATIONS
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1. Companies Act 1956: Article of Association, Memorandum of Association, Share capital, Deposits and General body Meeting
2. Business Laws: Contract Act 1872 (CPT’s basic concepts, Indemnity and guarantee, Special contracts); EPF and Misc. Act (Most IMP); Nagotiable Instrument Act (Discharge related points, basic points of the Act); Payment of Bonus and Gratuity Act (Most IMP)
3. Business Ethics: Corporate governance and CSR, GTI, Conservation of Natural resources, Consumer Acts consumer related matters, Fundamental principles relating to ethics, Ethical threats, and Ethical dilemmas.
4. Communications: Drafting deeds (Most IMP), Types of communication, Grapewine communication.
Super tips:
· For law, write relevant sections wherever needed only if u r 100% confident about it.
· Ethics and communication answers should also contain your ideas and views. You can score well in it if you have good vocabulary.
PAPER 3
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COST ACCOUNTING AND FINANCIAL MANAGEMENT
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Part 1: Cost Accounting
1. Process costing
2. Contract costing
3. Marginal costing (may be with operating costing)
4. Standard costing (may be with budgetary control)
5. Intigral and non-integral accounting OR Labour
Part 2: Financial Management
1. Cost of capital
2. Capital structure
3. Capital budgeting
4. Sources of finance (for theory)
5. Working capital OR Leverages
Super tips:
· Use working notes wherever necessary for costing.
· Don’t get panic by seeing the question as it may be twisted. Read the question slowly and try to find that point which may help you in solving the question.
· Use the table format for solving the questions of F.M. It looks eye catching.
Part 1: Income Tax
1. Full fledged question: With combo of three heads (e.g. Salary+HP+IFOS) (Compulsory)
2. Profits and Gains of Business or Profession (separate sum on amended portion)
3. Set-off carry forward OR Exempted Incomes u/s 10
4. Clubbing of income
5. Deductions from Total Income
Part 2: Service Tax and VAT
1. Services (Amendment related matter must)
2. Provision related to service tax (for theory)
3. VAT-Cenvat credit
4. VAT-Input vat credit
5. Negative list and other amended portion
Super tips:
· For income tax, before computing the sum, write short summary before computation about the point to be answered. This shows your understanding about the topic.
· Try to complete full paper as it works great for scoring.
RECOMMENDED REFERENCE BOOKS FOR CA-INTERMEDIATE (IPC) COURSE FROM VARIOUS AUTHORS
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Group I Paper 1: Accounting – P. C. Tulsian Paper 2: Business Laws, Ethics and Communication – M. P. Vijaykumar Paper 3: Cost Accounting and Financial Management – P. C. Tulsian (Reason – Because it is in very easy language compare to Padhukas. Padhuka is waste of money and bulky as well) Paper 4: Taxation – T. N. Manoharan (Because in V. K. Singhania there are too much cross references. You can go with GirishAhuja’s Book as well.)
· Write all answers in very clear cut manner. Don’t exaggerate anything. Just be to the point and state all points clearly.
· For theory subjects write answers point wise with attractive headings and sub headings.
· Use working notes wherever needed.
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