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How to Get 50 Marks in CA-IPCC Accounts Paper Easily ?

How to Get 50 Marks in CA-IPCC Accounts Easily ?


The aim of this section is to provide general guidance as to how to study for your exams. The guidance given herein is supplementary to the manner of study followed by you and is intended to improve your existing technique, but aims to give ideas on how to improve your existing study techniques and how to improve Concentration for CA exams, as it is essential that you adopt methods and techniques with which you feel comfortable. Passing exams is partly a matter of intellectual ability, but however accomplished you are in that respect you can improve your chances significantly by the use of appropriate study and revision techniques.
Also Read : CA Top 3 Rankers advises to Pass CA Exams

 In this section we briefly outline some tips for effective study during the earlier stages.
Hard work is very important to pass CA Exams. But only Hard Work is not enough to pass CA exams. Sometimes we have to do Smart Work.

Know your CA-IPCC/IPC Syllabus

  • Go through the syllabus carefully.
  • CA-IPCC Accounts has been divided in fifteen chapters/topics based on syllabus.
  • Understand the linkages between chapters at macro-level.
  • Main topics are as under :


Chptr.No


Topic


Marks


1


Accounting Standards


20


2


Financial Statements of Companies :

Unit 1 Preparation of Financial statements

Unit 2 Cash Flow Statements




5,8,16


3


Profits or Losses Prior to Incorporation


4,8


4


Accounting for Bonus Issue


4,8


5


Internal Reconstruction


8,16


6


Amalgamation


8,16


7


Unit 1 Average Due Date

Unit 2 Account Current


5,8


8


Self Balancing Ledgers


8


9


Financial Statements of Not for Profit Organisations


8,16


10


Accounts from Incomplete Records


8,16


11


Hire Purchase and Installment Sale Transactions


5,8


12


Investment Accounts


5,8


13


Insurance Claims for Loss of Stock and Loss of Profit


5,8


14


Issues in Partnership Accounts


4,8,16


15


Accounting in Computerized Environment


4





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Now See How to Get 50 Marks in CA-IPCC Accounts Easily…!


Chapters


Marks


Accounting Standards


20


Cash Flow / Funds Flow


8,16


Amalgamation


8,16


Internal Reconstruction


8,16


Self Balancing Ledgers


8


Financial Statements of Not for Profit Organisations


8


Accounts from Incomplete Records


8


Partnership Accounts


8


Accounting in Computerized Environment


4


In above chapters,
  • Accounting Standards
  • Accounting in Computerized Environment
are Dam sure Chapters. You can Check last 3 years papers.so by preparing these 2 Chapters we got 24 Marks. now come to Cash Flow Statement. we have Cash Flow Statement in both Financial Accounting and Cost Accounting(FM).

ICAI Examination Board only gives Cash Flow Statement’s Question in either Accounts or Financial Management vise versa. Almost Cash/funds Flow Question is also frequently asked question.so it is another 8 marks dam sure question.

From Amalgamation/Internal Reconstruction also we’ll face one very frequently asked question. either one of those topics we can get 16 Marks.

From below Chapters we can get 2x16 = 32 marks .
  • Self Balancing Ledgers
  • Financial Statements of Not for Profit Organisations
  • Accounts from Incomplete Records
  • Partnership Accounts
From above chapters we’ll face 2 Questions definitely and those are definitely 16 marks.so here we have a chance to get 32 marks.
That’s it..!
By following above analysis we can get 50 marks in accounts easily.

Plan your Study
  • Make a study plan covering the entire syllabus and then decide how much time you can allocate to the subject on daily/weekly basis.
  • Allocation of time must be done keeping in view your office commitments as well as social needs and personal hobbies.
  • Maintain the time balance amongst various subjects such as purely descriptive type and numerical-based papers. Allocate time in such a manner that your interest is well sustained and you are able to score well in the final examination as well.
  • Always assess your preparation periodically, say, on monthly basis. If necessary, revise your plan and allocate more time for the subject in which you feel deficient.
Preparing Study Strategy

  • Read, understand and assimilate each chapter.
  • First of all, have an overview of the chapter to understand the broad contents and sequence of various sub-topics.
  • Do the introspection while going through the chapter and ask various questions to yourself.
  • Read each chapter slowly to ensure that you understand and assimilate the main concept. If need be, read once again with concentration and then try to attempt exercise at the end of the chapter or given in the Practice Manual.
  • Recapitulate the main concept after going through each chapter by way of brief notes.
  • Prepare notes in the manner you feel comfortable covering all key points. Use mnemonic form e.g. C V P denoting cost, valuation and price.
  • One may use highlighter/underlining the significant points or writing down in the margin.
  • The fact that how well you have understood the topic is your ability to attempt the questions given in the exercises as well as in the practice manual. Make a serious attempt at producing your own answers but at this stage do not be much concern about attempting the questions in examination based conditions. In particular, at initial stages, it is more important to understand and absorb the material thoroughly rather than to observe the time limits that would apply in the actual examination conditions.
  • Always try to attempt the past year examination question paper under examination conditions.
  • Revision of material should never be selective in any case. Because broad coverage of the syllabus is more important than preparing 2-3 chapters exhaustively.
  • Read through the text along with notes carefully. Try to remember the definition and important formulae.

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