Self Preparation Tips For IPCC November 2013 – Group 2

PAPER V ADVANCED ACCOUNTING

This paper is the most easy in the second group and a scoring one Practice is essential thing for success in this paper

This paper can be divided into four parts

Accounting Standards(40%)
Company Accounts(25%)
Format Accounts(25%)
Partnership Accounts(10%)


Part I



Accounting standards carries 20-25 Marks at least two readings are necessary and solve the questions from previous years Question Papers



Now take on Amalgamation and Internal Reconstruction



Part II

This part is scoring area and you are required to be thorough with the entries to be passed in different situations

The chapters in this part are



Underwriting of Shares
Redemption of Debentures (Similar to AS-13 in Grp I)
Buy Back of Shares
Liquidation of Companies
Part III

This part is little bit difficult to study but you need to study. In this part you can prepare for the concepts which are already asked in previous exams that is enough to score 20% out of 30% questions asked in the exam

Part IV

Now Take on Partnership accounts this is advanced issues in Partnership Accounts and should be discussed with friends who have attended coaching classes in extreme case.

Try to understand the concepts and apply them in the problems asked.





PAPER VI AUDITING

Auditing paper is easy one but reading number of times possible enables you to score better other subjects are also related in Auditing like Accounts and Law so be sure to refer them when u come across the related provisions.

Auditing Preparation can be done as follows

Start your Preparation with First Three Chapters and read SA’s along with these chapters this part is very crucial in this subject
Now take on Company Audit I and II
Now Start Special Audits
Now do Vouching and Verification
Now read Internal Control System


PAPER VII IT and SM

This paper is felt difficult by many of the students and it is not so and the only reason is lack of interest to study the subject especially IT Believe me if you show interest it will be very easy for you to score better in this paper

It is advised to prepare from Class Notes or any other short or Point wise notes as you can remember well try to prepare from presentations i.e visually interesting way.

INFORMATION TECHNOLOGY

Coming to the Chapters and order of Preparation for Information Technology

Now Move on to Internet and Networks
Now take on DBMS
Now prepare for Flow Charts
Now Read Software
Concentrate on Short Questions in every chapter



STRATEGIC MANAGEMENT

Give 2-3 readings and understand the concepts better to prepare from class notes and reference books don’t leave Previous Questions in this subject