Important Topics – [CA-IPCC – Group 2 : November 2013 Exams] - Top 5 Chapters
PAPER 5
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ADVANCED ACCOUNTING
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1. AS
2. Insurance companies’ financial statement
3. Banking companies financial statements
4. Branch accounts OR Dept Accounts
5. Advanced issue in Partnership or Amalgamation (if asked in 1st group then chances to ask by ICAI is 70:30)
Super tips:
· For sums of chapters like electricity, banking and insurance, draw proper formats without missing any point.
· Points given above for accounts are applicable over here also.
PAPER 6
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AUDITING AND ASSURANCE
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1. Intro of Audit (with relevant SAs relating to those chapters)
2. Basic concept of Audit (with relevant SAs relating to this chap)
3. Company audit
4. CARO related provisions
5. Special audit
Super tip:
· Write answer point wise.
· Also use the practical knowledge while writing answers of auditing as it shows your understanding of subject.
PAPER 7
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INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT
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Part A: Information technology [50 marks]
1. Flowchart
2. Introduction to computers (amendments in study materials)
3. Data storage and retrieval
4. Internet
Super tip:
· Use technical terms in the pointwise presentation and in explanation use normal wordings.
· In this paper, definitions are asked of around 15 marks. So write definitions in clear and precise manner.
Part B: Strategic Management
1. Formulation of functional strategies
2. Strategy implementation
3. Reaching the strategic edge
4. Bus environment / Strategic planning
Super tip:
· Do six sigma, matrix etc.
[Note: this is based on past trend so can’t say its perfectly relevant but I felt this is too much imp for us, if one dint start preparing ipcc yet then this chapters can help them in gaining confidence. so many time icai ask this chapters especially in Nov. attempt so.]
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.)
Group II Paper 5: Advanced Accounting – P. C. Tulsian Paper 6: Auditing and Assurance – Surbhi Bansal (Because tabular format for easy understanding. You can go with Urvish Shah’s book as well if you are convenient with Question and Answer format) Paper 7: Information Technology and Strategic Management – For IT – Dinesh Madan and for SM – Practice Manual [You can do sums for practical subjects for more practice from Practice Manual Provided by ICAI.]
· 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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