A PACKAGE FOR IPCC MAY 2015 EXAMS

On the requests of some mates, I’m here to compiling everything what you want for your May 2015 CA IPCC exams. Some tips & Important topics for IPCC, revision plans for all level of CA i.e. CPT, IPCC. Finals. Friends according to me, if you do proper study with full dedication then no one can stop you for becoming CA. Here I don’t want to give you any lecture, so come to the point :D

MUST DO TOPICS FOR May 2015 EXAMS:

P.S. In CA exams, nothing is UNimportant.. you can't leave any topic. These are MUST DO topics, should not be avoided.

GROUP 1

PAPER 1: ACCOUNTING

-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)

MUST DOWNLOAD : ALL ACCOUNTING STANDARDS QUESTIONS AND SOLUTIONS FOR PRACTICE

ALSO SEE : COMPANY ACCOUNTS AMENDED NOTES FROM HERE

ALSO SEE : NEW FORMAT OF SCHEDULE III OF COMPANIES ACT 2013

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

Suggested Post: 40 Marks syllabus of Ethics & Communication in just 21 pages!!! Find out!!

MUST DOWNLOAD : COMPANIES ACT 2013 LATEST NOTES FOR REVISION

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

• Suggested Post: for Complete Costing and FM Theory click here
• Suggested Post: All costing formulae of IPCC at one place
• ALL COST FM FORMULAS AT A PLACE

PAPER 4: TAXATION

-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(fully) dnt leave anythn, they are SCORING, 
MUST DOWNLOAD : INCOME TAX LATEST NOTES FOR MAY 2015 EXAMS

Tax Amendments In 2015 Exams by CA AJAY JAIN for CA & CS

GROUP 2

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! See Notification From ICAI here

-200 300 500 series SAs r imp.

 Suggested Post:
you can find my last minute shortest summary of Audit on the one click

PAPER 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT

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

Download Latest Notes For Information technology ( new Syllabus)
Download Amendments in IT Syllabus For May 2015

*SM (full)

TIPS:

GROUP 1

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

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

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

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.
  This video may helps you for cracking your exams.

YOU MAY ALSO LOOK AT :

1. Revision Test Papers For CA IPCC May 2015 | RTP FOR MAY 2015
2. STUDY TIPS FOR CA IPC INDIRECT TAX
3. SUPER SUMMARY OF PARTERSHIP ACCOUNTS FOR CA IPCC ADVANCED ACCOUNTING
4. SUPER SUMMARY OF ACCOUNTING STANDARDS FOR GROUP 2 ACCOUNTS FOR CA IPCC ADVANCED ACCOUNTING
5. SUPER SUMMARY OF AMALGAMATION, ABSORPTION , & RECONSTRUCTION FOR CA IPCC ADVANCED ACCOUNTING
6. SUPER SUMMARY OF COMPANY ACCOUNTS FOR CA IPCC ADVANCED ACCOUNTING
7. SUPER SUMMARY OF ELECTRICITY NOTES FOR CA IPCC ADVANCED ACCOUNTING
8. SUPER SUMMARY OF INCOMPLETE RECORDS FOR CA IPCC ADVANCED ACCOUNTING
9. SUPER SUMMARY OF INSURANCE CLAIMS FOR CA IPCC ADVANCED ACCOUNTING
10. SUPER SUMMARY OF INTERNAL CONSTRUCTION FOR CA IPCC ADVANCED ACCOUNTING
11. SUPER SUMMARY OF INVESTMENT ACCOUNTS FOR CA IPCC ADVANCED ACCOUNTING

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