Important Areas: Top 5 Chapters [CA-Inter: May

2014 Exams]
APRIL 16, 2013 BHAVIN PATHAK 51 COMMENTS

Important Areas in all subjects, Tips and All about exams

For those who are preparing for IPC November 2013, take a look at the article which can help you
in studies. Sharing an article with some important areas of syllabus alongwith tips and
recommendations.

GROUP 1
PAPER 1: ACCOUNTING

1. Partnership Accounts
2. Not-for-profit organizations
3. Amalgamation
4. Hire purchase and installment system
5. Single Entry System (Accounting from incomplete records)
Super tips:

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.
Even if u dont know any answer, just draw the format and write its heading. It can fetch u
1 mark even and for CA exams, every mark is important.
PAPER 2: BUSINESS LAWS, ETHICS AND COMMUNICATIONS
 1. Companies Act 1956: Article of Association, Memorandum of Association, Share capital,
Deposits and General body Meeting
2. Business Laws: Contract Act 1872 (CPTs basic concepts, Indemnity and guarantee,
Special contracts); EPF and Misc. Act (Most IMP); Nagotiable Instrument Act (Discharge
related points, basic points of the Act); Payment of Bonus and Gratuity Act (Most IMP)
3. Business Ethics: Corporate governance and CSR, GTI, Conservation of Natural resources,
Consumer Acts consumer related matters, Fundamental principles relating to ethics,
Ethical threats, and Ethical dilemmas.
4. Communications: Drafting deeds (Most IMP), Types of communication, Grapewine
communication.
Super tips:

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

Part 1: Cost Accounting

1. Process costing
2. Contract costing
3. Marginal costing (may be with operating costing)
4. Standard costing (may be with budgetary control)
5. Intigral and non-integral accounting OR Labour
Part 2: Financial Management

1. Cost of capital
2. Capital structure
3. Capital budgeting
4. Sources of finance (for theory)
5. Working capital OR Leverages
Super tips:

Use working notes wherever necessary for costing.

Dont 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

Part 1: Income Tax

 1. Full fledged question: With combo of three heads (e.g. Salary+HP+IFOS) (Compulsory)
2. Profits and Gains of Business or Profession (separate sum on amended portion)
3. Set-off carry forward OR Exempted Incomes u/s 10
4. Clubbing of income
5. Deductions from Total Income
Part 2: Service Tax and VAT

1. Services (Amendment related matter must)

2. Provision related to service tax (for theory)
3. VAT-Cenvat credit
4. VAT-Input vat credit
5. Negative list and other amended portion
Super tips:

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.
GROUP 2
PAPER 5: ADVANCED ACCOUNTING

1. AS
2. Insurance companies financial statement
3. Banking companies financial statements
4. Branch accounts OR Dept Accounts
5. Advanced issue in Partnership or Amalgamation (if asked in 1st group then chances to ask
by ICAI is 70:30)
Super tips:

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

1. Intro of Audit (with relevant SAs relating to those chapters)

2. Basic concept of Audit (with relevant SAs relating to this chap)
3. Company audit
4. CARO related provisions
5. Special audit
Super tip:
 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 [50 marks]

1. Flowchart
2. Introduction to computers (amendments in study materials)
3. Data storage and retrieval
4. Internet
Super tip:

Use technical terms in the pointwise 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

1. Formulation of functional strategies

2. Strategy implementation
3. Reaching the strategic edge
4. Bus environment / Strategic planning
Super tip:

Do six sigma, matrix etc.

[Note: this is based on past trend so cant say its perfectly relevant but I felt this is too much imp
for us, if one dint start preparing ipcc yet then this chapters can help them in gaining confidence.
so many time icai ask this chapters especially in Nov. attempt so.]

RECOMMENDED REFERENCE BOOKS FOR CA-INTERMEDIATE (IPC) COURSE FROM

VARIOUS AUTHORS
Group I
Paper 1: Accounting P. C. Tulsian
Paper 2: Business Laws, Ethics and Communication M. P. Vijaykumar
Paper 3: Cost Accounting and Financial Management P. C. Tulsian (Reason Because it is in very
easy language compare to Padhukas. Padhuka is waste of money and bulky as well)
Paper 4: Taxation T. N. Manoharan (Because in V. K. Singhania there are too much cross
references. You can go with GirishAhujas Book as well.)
Group II
Paper 5: Advanced Accounting P. C. Tulsian
Paper 6: Auditing and Assurance Surbhi Bansal (Because tabular format for easy understanding.
You can go with Urvish Shahs book as well if you are convenient with Question and Answer
format)
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. Dont 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.