Paper 5 Advanced Accounting 1 Five Six Question 1: Fill & Download for Free

Let us assume that you are a very bright student. Say you have scored 10CGPA or 90% plus marks in your 10th standard and equally good marks in your 10+2 exams. You studied really well for your CA-IPCC exams as well.It is true that all of your past performances is going to boost your confidence for facing CA-IPCC exams but it is also equally true to say that the examiner checking your paper is not having any clue of your preparation and your intelligence and past performance.9 out of 10 students write utter crap. So the battle is between ‘YOU’ and ‘THE FRUSTRATED EXAMINER’S MIND.’So wake up! Welcome to CA exams where the only predictable thing about it is that it is unpredictable.And they are going to judge you only by what you write on the day of exam.GENERAL TIPSThese general tips are useful for all papers of Group-1 as well as Group-2.You have been given the answer sheet 15 minutes before the 3 hour exam. Draw margin only on the left side of the answer sheet. Do not draw it on both the sides. Do not draw a wide margin. Margin should not be more than 2 cm.Read the question paper properly in the allotted pre-15 minutes. Make sure which questions are you going to attempt. Generally all papers have a specific format of 1st question as compulsory (20 marks) and remaining 6 questions have a choice of solving any 5 answers (5*16= 80 Marks).Solve the questions which you can answer the best first. Never solve extra questions because as per the new rule of ICAI, the examiner won't even bother checking the extra questions attempted by a student.Double check if the question number is written properly. Kindly mention the sub part of the question as well. The silliest way to get a zero for an answer is writing the correct answer for a wrong question.Write answer for a new question number on a fresh page. Don't bother about the supplements. Trust me, they give it for free.Do not write incomplete answers. Even if you don't know the exact answer, try to make it a complete answer. What I mean here is do not leave the sentence incomplete. This is more of a psychological hack. Incomplete answers catch the attention of the examiner easily. You never know an incorrect but complete answer may fetch you full marks.Attempt all the questions. Even ICAI has suggested the same funda. Remember that six average answers would fetch you more marks than five perfect answers.Screw the handwriting. Your handwriting need not be good but it must be understandable.Don't make the paper look shabby. You may not know the answer to a question but you can surely be more presentable.Use your time wisely. Try to attempt 60% paper in the first half itself. Again it is easier said than done. But trust me, with great practice this is easily achievable.SPECIFIC TIPS FOR PRACTICAL SUBJECTS-This would include Accounting, Cost Accounting & Financial Management, Taxation and Advance Accounting.Do mention all your assumptions as a part of your answer. They carry marks as well.Never forget to mention the units. What I mean to say here is if you are asked to calculate tax and your answer is 10,000 mention the amount with its unit- ₹.10,000. This Rupee symbol is also worth writing. Likewise, you must write proper unit for answers in Cost Accounting.Make working notes wherever needed. Do not complicate your presentation. Write the working notes separately.Never forget to conclude the answer. Never ever.For taxation, a small mistake in any adjustment would make you calculate the wrong answer. So it is highly suggested to write down the notes as a part of your answer explaining the examiner as to how you came to the answer.Learn all the Accounting standards by their proper name and number. AS are very useful in Accounts as well as Auditing.For theory part of these practical subjects, the language is very important. Mention all the key words expected by examiner. Your language may change but key words must be intact.SPECIFIC TIPS FOR LAW, ETHICS & COMMUNICATION-It is not necessary that you know the section number to a particular provision. While writing the section won't fetch you extra marks, writing wrong section would certainly deduct your marks.You need not remember the case laws. You may mention the case laws but please don't create any. I have seen students becoming hyper-creative mentioning Mr.X and Mr.Y as parties to the case law.Never write the answers in paragraphs. Always use numbering format to present the answer. This is most useful while writing ethics and communication part.Write the answers with case studies in this format-Facts of the case- Mention briefly as to what happened in the case. Don't mix the provisions of law here.Provisions of law- Mention precisely only the provisions of law. In case you don't know the section number use these words- ‘As per the provisions of the companies act 2013…’ That way you are showing examiner in a subtle way that you are the ‘Mr. Know it all’.Conclusion- Here you have to mention the expected answer briefly.SPECIFIC TIPS FOR AUDITING & ASSURANCE-Audit is not something which would fetch you marks easily. The way you write this paper is more dependent on the way you prepare for it.Never underestimate the Standards on Auditing (SAs).Every answer which has a reference to SA or AS would be considered as the best one to fetch more marks.SPECIFIC TIPS FOR INFORMATION TECHNOLOGY & STRATEGIC MANAGEMENT-This paper has got highest level of creative freedom which many are not aware about. Use diagrams and charts as a part of your answer.Say an answer has 3 points, make a tree diagram jotting all those points and viola! You have thrown an amazing impression on the examiner already. This is again more time consuming but again you can do wonders if you practice.Remember it is not what you know. The little secret is what and how you show.All the best!

How to Pass CA IPCC Exams Group 1 and Group 2 or both Groups in First Attempt EasilySome CA IPCC students asked me “How to complete CA IPCC exams in just one month or 20 days”. Definitely its not possible to complete CA IPCC exam in just one month or 20 days. In recent Google Hangout with ICAI president, he said that CA exams will be tough from 2017. Last attempt (May 2017) ICAI declared very low pass percentage that means we have to do more hard work. I’m not saying its very tough to crack CA IPCC exams. I’m saying that “Yes! you can pass CA IPCC exam, if you have conceptual knowledge with effective preparation only.To get conceptual knowledge, you should follow proper study plan from 3 months. CA IPCC exams November 2017 are coming closer. So we have sufficient time for exam preparation. ICAI already declared that CA IPCC results May 2017 is declared on August 2017. Here we are giving CA IPCC Study plan for CA IPCC Group 1 / Group 2 / Both groups preparation in 3 months. Just follow this study plan, you can crack your CA IPCC exam in your 1st attempt easily. If you are clever student, you can adjust this study plan from 3 months to 2 months. There are 3 revisions in this study plan !!Download : CA IPCC Study Material and Practice Manual For Nov 2017 ( Latest )Here we are giving study plan for 2 and half months. We can definitely complete our preparation in 2 ½ months very easily. In this 2 ½ months preparation you have to do 3 times of revision for CA IPCC exams. The study plan for CA IPCC exams preparation is as below.Study Plan For CA IPCC Exams Nov 20171. A student is required to prepare thoroughly for examinations well in advance and to devote at least two hours daily for studies while undergoing Articled Training.2. During leave period at least 14 to 16 hours’ hard work is required.3. Avoid mobiles, internet and television as far as possible.4. Students must study from study material and do practice from practice manual. Wherever a particular topic or point is not clear, a student may refer to a standard text/reference book.5. Students should refer suggested answers of questions set in last five/six examinations and Revision Test Papers. It is strongly recommended to solve the questions first without referring to solutions and then comparing the answers with the solutions given. Such an approach would help in knowing point of mistake and presentation pattern of an answer.6. In law papers, Section and its provision is to be given correctly. If a student is not sure about the Section number then he should not quote the same.How to Pass CA IPCC in First Attempt Easily Nov 2017Get up early in the morning at 4 AM. Be ready by 5 AM. This period (4.00 AM to 6.00 AM) is called ‘Brahma Murat’ and studies done during this period cannot be forgotten i.e. they remain in memory for long.5 AM. To 7.00 AMRead Theory7 AM. to 7.30 AM.Breakfast Time7.30 AM to 10.30 AMRead theory – mind is always fresh in the morning10.30 AM to 11.00 AMRelaxation Time11.00 AM to 1 PM.Do/solve practical problems.1 PM to 2 PMLunch Time2 PM to 3 PMMay take short sleep3 PM to 5 PMDo/solve practical problems.5 PM to 5.30 PMHave a break.5.30 PM to 8 PMRead theory.8 PM to 9 PMDinner Time9 PM to 10 PMMay go for outing – watch T.V10 PM to 12 PMDo/solve practical problems12 PM to 4 AMHave sleepReading Time Eating Time Relaxation TimeStudy Plan For CA IPCC Nov 2017 – 1st RevisionNo. of days = 45 days ( One Month + 15 Days )Daily preparation hours = ( 12+1 ) = 13 hrs.SubjectDaily preparation time for each paperTotal hrs.Refer previous day’s revision(in early morning )½ hr x 45 days22.30 hrs.Accounting2 hr x 45 days90 hrs.Business law, Ethics and communication2 hr x 45 days90 hrs.Cost Accounting and FM2 hr x 45 days90 hrs.Taxation3 hr x 45 days135 hrs.Advanced Accounting1 hr x 45 days45 hrs.Auditing1 hr x 45 days45 hrs.SM & IT1 hr x 45 days45 hrs.Once again refer that full day’s revision(Before going to bed )½ hr x 45 days22.30 hrs.Total13 hrs. x 45 days585 hrs.You have to complete your 1st revision in first 45 days and also you have to complete full Syllabus of CA IPCC in your study material.Here study material means your own class notes/tutorials own material or any preferred publishers publication. Even you can prepare both CA IPCC study material and practice manual of ICAI.Study Plan For CA IPCC Nov 2017 – 2nd RevisionNo. of days = 15 daysDaily preparation hours = ( 12+1 ) = 13 hrs.SubjectDaily preparation time for each paperTotal hrs.Refer previous day’s revision(in early morning )½ hr x 15 days7.30 hrs.Accounting2 hr x 15 days30 hrs.Business law, Ethics and communication2 hr x 15 days30 hrs.Cost Accounting and FM2 hr x 15 days30 hrs.Taxation3 hr x 15 days45 hrs.Advanced Accounting1 hr x 15 days15 hrs.Auditing1 hr x 15 days15 hrs.SM & IT1 hr x 15 days15 hrs.Once again refer that full day’s revision(Before going to bed )½ hr x 15 days7.30 hrs.Total13 hrs. x 15 days195 hrs.You have to complete your 2nd revision in next 15 days and once again you have to complete full revision of your study material which was you prepared in 1st revision. But this time you should prepare both CA IPCC study material and practice manual of ICAI.Note : Preparation of ICAI Study Material and Practice Manual is must and should. You can easily get 40 marks with direct questions coming from ICAI Study Material and Practice Manual. So you should do this in 2nd revision.Study Plan For CA IPCC Nov 2017 – 3rd RevisionNo. of days = 15 daysIn this 3rd revision there is no particular time table. Just concentrate on your weak areas of subjects. Once again revise all subjects which were you completed in last 2 months(1st and 2nd revisions). This time you should prepare previous question papers with suggested answers, revision test papers, mock test papers and model test papers.Here we are providing every subject “All in One” for CA IPCC Students. This “All in One” contains Latest Study Material and Practice Manual in English and Hindi, Reference Books, Mock Test Papers, Model Test Papers, Revision Test Papers, Previous Exams Question Papers with Suggested Answers, Important Notes with Latest Amendments, Changes Applicable for Nov 2017. Click below links to see !!Group – 1IPCC Accounts Latest Notes | Standards | Amendments Nov 2017IPCC Law Ethics and Communication Amendments | Fast Track Revision Notes Nov 2017IPCC Costing and Financial Management Study Material | Formulas Notes Nov 2017IPCC Tax Amendments Applicable | Changes | Latest Notes Nov 2017Group – 2IPCC Advanced Accounts Amendments | Changes in Syllabus Nov 2017IPCC Auditing Amendments | Standards Notes in Single Page Nov 2017IPCC Information Technology and Strategic Management Important Topics | Amendments Nov 2017Cheers!!

“Yes! you can pass CA IPCC exam, if you have conceptual knowledge with effective preparation only. So, here we have scheduled an effective study plan which wil help you out.To get conceptual knowledge, you should follow proper study plan from 3 months. CA IPCC exams November 2017 are coming closer. So we have sufficient time for exam preparation. ICAI already declared that CA IPCC results May 2017 is declared on August 2017. Here we are giving CA IPCC Study plan for CA IPCC Group 1 / Group 2 / Both groups preparation in 3 months. Just follow this study plan, you can crack your CA IPCC exam in your 1st attempt easily. If you are clever student, you can adjust this study plan from 3 months to 2 months. There are 3 revisions in this study plan !!Here we are giving study plan for 2 and half months. We can definitely complete our preparation in 2 ½ months very easily. In this 2 ½ months preparation you have to do 3 times of revision for CA IPCC exams. The study plan for CA IPCC exams preparation is as below.Study Plan For CA IPCC Exams1. A student is required to prepare thoroughly for examinations well in advance and to devote at least two hours daily for studies while undergoing Articled Training.2. During leave period at least 14 to 16 hours’ hard work is required.3. Avoid mobiles, internet and television as far as possible.4. Students must study from study material and do practice from practice manual. Wherever a particular topic or point is not clear, a student may refer to a standard text/reference book.5. Students should refer suggested answers of questions set in last five/six examinations and Revision Test Papers. It is strongly recommended to solve the questions first without referring to solutions and then comparing the answers with the solutions given. Such an approach would help in knowing point of mistake and presentation pattern of an answer.6. In law papers, Section and its provision is to be given correctly. If a student is not sure about the Section number then he should not quote the same.How to Pass CA IPCC in First Attempt EasilyGet up early in the morning at 4 AM. Be ready by 5 AM. This period (4.00 AM to 6.00 AM) is called ‘Brahma Murat’ and studies done during this period cannot be forgotten i.e. they remain in memory for long.5 AM. To 7.00 AMRead Theory7 AM. to 7.30 AM.Breakfast Time7.30 AM to 10.30 AMRead theory – mind is always fresh in the morning10.30 AM to 11.00 AMRelaxation Time11.00 AM to 1 PM.Do/solve practical problems.1 PM to 2 PMLunch Time2 PM to 3 PMMay take short sleep3 PM to 5 PMDo/solve practical problems.5 PM to 5.30 PMHave a break.5.30 PM to 8 PMRead theory.8 PM to 9 PMDinner Time9 PM to 10 PMMay go for outing – watch T.V10 PM to 12 PMDo/solve practical problems12 PM to 4 AMHave sleepReading Time Eating Time Relaxation TimeStudy Plan For CA IPCC – 1st RevisionNo. of days = 45 days ( One Month + 15 Days )Daily preparation hours = ( 12+1 ) = 13 hrs.SubjectDaily preparation time for each paperTotal hrs.Refer previous day’s revision(in early morning )½ hr x 45 days22.30 hrs.Accounting2 hr x 45 days90 hrs.Business law, Ethics and communication2 hr x 45 days90 hrs.Cost Accounting and FM2 hr x 45 days90 hrs.Taxation3 hr x 45 days135 hrs.Advanced Accounting1 hr x 45 days45 hrs.Auditing1 hr x 45 days45 hrs.SM & IT1 hr x 45 days45 hrs.Once again refer that full day’s revision(Before going to bed )½ hr x 45 days22.30 hrs.Total13 hrs. x 45 days585 hrs.You have to complete your 1st revision in first 45 days and also you have to complete full Syllabus of CA IPCC in your study material.Here study material means your own class notes/tutorials own material or any preferred publishers publication. Even you can prepare both CA IPCC study material and practice manual of ICAI.Study Plan For CA IPCC – 2nd RevisionNo. of days = 15 daysDaily preparation hours = ( 12+1 ) = 13 hrs.SubjectDaily preparation time for each paperTotal hrs.Refer previous day’s revision(in early morning )½ hr x 15 days7.30 hrs.Accounting2 hr x 15 days30 hrs.Business law, Ethics and communication2 hr x 15 days30 hrs.Cost Accounting and FM2 hr x 15 days30 hrs.Taxation3 hr x 15 days45 hrs.Advanced Accounting1 hr x 15 days15 hrs.Auditing1 hr x 15 days15 hrs.SM & IT1 hr x 15 days15 hrs.Once again refer that full day’s revision(Before going to bed )½ hr x 15 days7.30 hrs.Total13 hrs. x 15 days195 hrs.You have to complete your 2nd revision in next 15 days and once again you have to complete full revision of your study material which was you prepared in 1st revision. But this time you should prepare both CA IPCC study material and practice manual of ICAI.Note : Preparation of ICAI Study Material and Practice Manual is must and should. You can easily get 40 marks with direct questions coming from ICAI Study Material and Practice Manual. So you should do this in 2nd revision.Study Plan For CA IPCC – 3rd RevisionNo. of days = 15 daysIn this 3rd revision there is no particular time table. Just concentrate on your weak areas of subjects. Once again revise all subjects which were you completed in last 2 months(1st and 2nd revisions). This time you should prepare previous question papers with suggested answers, revision test papers, mock test papers and model test papers.