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CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

GROUP 1- CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

PAPER 1: ACCOUNTING FOR CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

-Avg. due date(4)
-Partnership (16)
-Pre-incorporation(8)

-Amalgamation/Internal Reconstruction (16)

-Hire Purchase(8)

-NPO(16)

-Cash flow(16)

-Single entry(16)

-Imp. AS (revenue recognition, contract, Depreciation, fixed asset)

PAPER 2: BUSINESS LAWS, ETHICS AND COMMUNICATIONS

-Bonus(8)
-Gratuity(8)
-last 3 chapters of Indian Contract Act, combined (10)
-Share Capital, General Meeting
-t/f transmission of shares Membership
-Share allotment, prospectus n MOA
-ethics (full,dnt leave anythn)
-Communication  (Deeds r vry imp.) n comm. theory, rest of d chptrs

PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT

-Contract Costing, Material

-Reconciliation-Standard, Marginal

-Labour, Overhead, Process Costing

-Capital budgeting, leverage

-Working Capital, Receivable Mgt.

-Cost of Capital, Ratios

PAPER 4: TAXATION – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

-Salary(RFA, HRA, gratuity, pension, leave salary…motor car facility n few more perquisites, all allowances r imp. shudnt b ignored)

-Business proff. (thz sec r d most imp. viz sec 32,40A2,40A3,43B n topics lyk deduction in case of scientific research,writing off of preliminary exp.,ques related with book profits n cash payments in excess of 20,000 n payments tht can b made n claimed till ROI filing date ie d above sections mentioned)…dnt leave ths chptr FCAs plz,it’s coming of 16 marks since May’10 in evry attempt.

-Capital gains(exemption related sections,forfeiture sec 51, conversion of capital in2 stock n sec 47)

-ROI,TDS,deductions(80C,80D,80 DD,80U,80G)

-Clubbing,other sources

*Service tax n VAT and excise (full),they are SCORING,
MUST DOWNLOAD : INCOME TAX LATEST NOTES FOR MAY 2015 EXAMS

GROUP 2 – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

PAPER 5: ADVANCED ACCOUNTING

-Partnership(16)

-Amalgamation/Internal Reconstruction (16)

-Branch A/c,liquidation,banking,insurance …all may come of 8 marks each

-Underwriting,departmental(5 each)

-imp. AS(borrowing cost,govt. grant,eps,lease)

-debenture chptr(16)

PAPER 6: AUDITING AND ASSURANCE

-Vouching, verification
-Co. audit 1 n 2
-Spcl. Audit
-EDP, govt. audit, CARO 2003 IS NOT APPLICABLE SO DON’T WORRY ABOUT IT!

-200 300 500 series SAs r imp.

PAPER 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

-internet
-networking
-Dbms
-flowcharts (almost carry 40 marks weightage)

*SM (full)

TIPS: – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

GROUP 1 – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

PAPER 1: ACCOUNTING

  • 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.

PAPER 2: BUSINESS LAWS, ETHICS AND COMMUNICATIONS

  • 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: COST ACCOUNTING AND FINANCIAL MANAGEMENT

  • 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.

PAPER 4: TAXATION

  • 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.
  • Don’t Go For GTI Question First unless you are fully confident onto that sum because that could waste a lot of your time. And attempt the rest of the question paper first and then do the GTI sum.

GROUP 2 – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

PAPER 5: ADVANCED ACCOUNTING

  • 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: AUDITING AND ASSURANCE

  • Write answer point wise.
  • Also use the practical knowledge while writing answers of auditing as it shows your understanding of subject.

PAPER 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

Part A: Information technology

  • Use technical terms in the point wise 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

  • Do six sigma, matrix etc.
  • If you don’t know the right answer then don’t leave the question, use your mind. At the IPCC stage, it is assumed that you can write the relevant things about the topic.

RECOMMENDED REFERENCE BOOKS FOR CA-IPCC  COURSE FROM VARIOUS AUTHORS

Group I – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

Paper 1: Accounting – Parveen Sharma (For Practice Purpose only)

Paper 2: Business Laws, Ethics and Communication – Munish Bhandari for Law

Paper 3: Cost Accounting and Financial Management – Ashish Kalra (For Practice Purpose only)

Paper 4: Taxation – Girish Ahuja’s Book if you want to deep study. Otherwise Ajay Jain Sir’s book is also good.

Group II – CA IPCC IMPORATANT TOPICS MAY 2015 INCLUDING TIPS

Paper 5: Advanced Accounting – Parveen Sharma (For Practice Purpose only)

Paper 6: Auditing and Assurance – Surbhi Bansal Mam

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.]

GENERAL POINTS

  • 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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