Every student preparing for CA Intermediate wants to crack the exam in their first attempt. Students enrolling for CA inter exams can register three years of CA intermediate practical training after clearing either single group or both groups. Passing the CA intermediate exams are not as difficult as the hype created. With the right practice and approach anyone can clear the intermediate examination in their first attempt.
There are so many students who cleared the exam in their first shot. But why do others fail to clear the exam even after studying for 5-6 hours daily? It’s not because they haven’t studied for the papers, but their strategy to prepare was not right.
CA intermediate is divided into two groups and each group consists of four subjects. Based on ICAI eligibility criteria, students need to score 40% marks in each subject and an aggregate of 50% in all the subjects.
Students attempting CA intermediate exams for the first time commit silly mistakes which need to be avoided. This article will help you to form a strategy which will help you to clear the exam in one go.
There are four subjects in the CA intermediate Group-2:
- Advance Accounting
- Auditing and Assurance
- Enterprise Information System and Strategic Management
- Financial Management and Economics for Finance
Each subject covers different topics and thus preparation strategy for each subject would be different. Browse the article to know the preparation strategy for each subject of CA intermediate.
1. Preparation Strategy for Advanced Accounting:
Advanced accounting is a purely practical exam consisting of 100 marks. Therefore, to prepare for the exam in the best feasible way one should practice as much as possible. Start solving mock test papers, sample papers, practice papers and assess yourself based on the questions you attempt. So while practicing for this paper students should focus more on the written practice of practical questions provided in MCC compilers.
Students should give this subject at least 2 hours daily from the day you receive the ICAI study material. This habit will help you to complete your syllabus on time and you will have sufficient time to revise it at least twice.
Topics covered by Advance Accounting are as follows –
– Accounting Standards (AS – 7, 9, 14, 18, 19, 20, 24, 26, 29)
– Application of Guidance Notes on specified accounting aspects.
– Special aspects of company accounts (ESOP, buyback, Underwriting)
– Reorganisation of companies (Amalgamation, reconstruction and Liquidation)
– Financial Reporting of Banking, Financial Services and Insurance (BFSI) (Insurance co, – Banking Co, Non Banking Co, Mutual Funds).
– Valuation of Goodwill
– Consolidated Financial Statements
2. Preparation Strategy for Auditing and Assurance:
The objective to introduce this subject in CA intermediate course is to make students understand the basic concepts of auditing and gain practical knowledge of auditing procedures and develop skills needed for auditing and attestation. This is one of the most difficult subjects you will encounter in your CA intermediate journey. The subject is not very scoring but you have to read every topic carefully as it plays a crucial role in your practical training which you will commence after clearing both groups.
Must Read: Download CA Intermediate Study Material 2022 in PDF
There is a false opinion that you should answer in a bookish language. But, if you have good command over language in either English or Hindi you can answer it in your own way but remember to mention the right keywords in your answer sheet.
Students should focus more on Standards on Accounting and Company Audit as it covers approx 40-45 marks. These topics are easy to read and highly scoring. Presentation matters a lot when you are appearing for an Auditing and Assurance paper. Make sure to answer in points or in short paragraphs. This will help the examiner with the highlighted main points while evaluating the answer sheet. Download the MCC mock test papers which will help you to practice more.
3. Preparation Strategy for Enterprise Information System and Strategic Management:
This subject is divided into two sections one is IT (Information Technology) and other one is SM (Strategic Management). Each section consists of 50 marks. Strategic management is easy to score while IT is quite difficult to score. This subject will help you to understand the basic concepts of Information technology as a key enabler and facilitator of implementing Information systems in enterprises and their impact on business processes and control.
Prepare yourself from the ICAI study material as one 8 mark question always comes up in the paper. This is a very scoring subject as it covers majorly flowchart and decision tables. Students are advised to study this subject on a daily basis as lack of revision will impact your marks.
Students try to mock this subject which is a wrong habit as it will not remain in your mind for a long time. Try to understand the points which you can even write in your own language in the exam. You can understand the concepts by making the chart format as it will help you to revise the syllabus quickly before one month from the examination.
4. Preparation Strategy for Financial Management and Economics for Finance:
There are two sections in this subject one is Financial management and other one is Economics for Finance. The 60% portion is covered by Financial management and the remaining section covers 40%.
Earlier this subject was a part of the first group but now ICAI introduced this subject in group 2. Write down the formulas on the sticky notes and paste it on your study table. This helps you to memorize them easily. Stop mocking up the formulas and try to understand the formulation of that formula so you can memorize it for a longer time.
Topics like Financial Management and Financial Analysis, Management of Working Capital, Public Finance, Determination of National Income etc. This is a very scoring subject if you have remembered the formulas on your fingertips.
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Apart from the preparation strategy students should follow some habits which will lead you to the door of success. Few of them are listed below:
– Study Daily:
If you want to clear CA intermediate study you should at least study 3 hours daily from the day you receive ICAI study material. This way you can complete your syllabus way ahead of time and there will be sufficient time for you to revise it properly.
– Regular Revision:
CA Intermediate course is quite lengthy and it is common among students that they start forgetting the chapters slowly. So, it is fruitful to revise the syllabus before going to bed.
– Avoid Social Platforms:
Social media apps are a time killer. Once you get addicted your precious study time will be wasted. So avoid the use of such apps and concentrate only on your studies.
– Keep Your Confidence Up:
Try to keep your confidence level up and also maintain a positive mental health. This will boost your spirit to study for the CA intermediate exams. Incase, if you fail to pass the exam your confidence will help you make another attempt.
– Set Small Targets:
This will surely help you in achieving your goals. Set small targets for yourself and clear the basic concepts.
– Take Short Breaks:
Avoid studying for too long as your mind needs some relaxation. Taking short breaks, or taking a nap, watching a movie or hanging out with your friends will help you to refresh your mind.
Important Article: How to Fill CA Intermediate Application Form 2022?
Must Read: How to Check CA Intermediate Result?
