Exclusive Tips/Steps For CA Advanced Accounting For IPCC Level

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TIPS FOR ADVANCED ACCOUNTS (IPCC) :
Advanced Accounting is very easy subject compared with other subjects in Second Group and it is also a scoring subject…

Preparation for Advanced accounting can be planned as follows…

1) The First and foremost topic to be selected is Accounting standards which carries around 25-30 marks almost 30% of marks so concentrate more on this.. Standard wise Preference is as follows…
• AS-4
• AS-5
• AS -12
• AS-20
• AS-19
• AS-26
• AS-29
• AS-16
• AS-11 (only basics are asked)

2) Now take on Topics part of Company Accounts which carries overall weightage of 35-40 Marks and the topics are easy compared to partnership accounts…. Topic wise Preference is as follows

• Amalgamation and Internal Reconstruction (In this topics 16 Marks Questions are asked based on the paper asked in group I i.e if 16 Marks Q is asked from Amalgmn in Group I then in second group 16 marks or 8 marks questions are asked from Int.Reconstruction)
• Issue and Redumption of Debentures ( This topic is already covered in Group I i.e AS-13 so students who passed Group I can just revise it once it is sufficient)
• Liquidation of Companies (problems are based on Prescribed formats)
• Buy Back of shares
• ESOP’s

3) Now If you are confident of doing Partnership Accounts you can go ahead but it is better to choose Accounting for Banks, Insurance , Electricity as these also cover upto 15-20 marks Preparation for this chapters is it is advisable to thoroughly prepare problems of the model asked in previous years (scanner) and Practice Manual

Tip: Don’t waste time preparing lengthy formats as those are not of that relevance

4) Now it is better to choose Partnership Accounts which carries weightage of 16 marks

5) As a final step prepare Branch and Departmental accounts carries weightage of 6-8 Marks

Overall Tip: If you are short of time you can prepare the topics upto Step 3 Above it is sufficient if u prepare them thoroughly

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