Practice, Practice, and Practice is the main mantra to prepare for CA intermediate Nov. 2023 exam. You must have a well-defined strategy, especially for difficult exams such as the CA Intermediate. This article will provide you with detailed and effective approaches to each subject covered by the CA Intermediate syllabus.
General Tips:
• Always complete RTPs, MTPs, and QUESTION PAPERS. This is one of the most important suggestions you should follow.
• The latest RTP covers approximately 10-15% of the paper. Hence, while preparing make it a priority.
• You must complete at least four to five mock test papers and previous question papers. This will assist you in how to write the exam in the examination hall.
Let’s start with each subject of CA intermediate and how to prepare for it
Paper-1: Accounting
The main focus for this paper must be on Accounting Standards as it is an easy area to score at.
• The first and most important rule of accounting is to understand the various concepts and topics rather than memorize them.
• It is essential to practice important questions frequently and repeatedly.
• Keep a register in which you can jot down important concepts and questions to ensure ease at the time of final revision.
Paper No. 2: Corporate and Other Laws
Theoretical papers must be answered in a technical manner. Your vocabulary and technical presentation will be heavily weighed, so in addition to understanding concepts, you must master the art of memorizing key terms and sections.
Corporate law is the most important, so make sure you have a solid foundation in it.
As the subject of law is pure theory, many students share that this is a boring subject. However, the law can only become interesting and simple to study if you focus on the whys rather than the whats. There is a logic behind every piece of legislation. Try to figure out why the provision exists. This aids in the development of analytical skills and the establishment of a solid foundation.
Paper 3: Cost Accounting and Management
It is always preferable to begin and finish the small and simple chapters first.
Continue to practice important questions from important chapters
Maintain a formula book because costing and management accounting requires numerous formulas to be memorized.
Focus on practical questions rather than theoretical ones because the former has a higher relative weightage of marks.
Paper 4: Taxation
Practice as many questions as you can in order to cover at least a significant portion of the variety of questions.
The GST Act is covered indirect taxes. Understand each and every provision of this because this is a simple area to score well in.
Direct tax, which includes the Income Tax Act of 1961, must be thoroughly studied. Profits and Gains from Business and Profession is a large chapter that requires careful time management. Therefore, do not leave it to the last moment.
Paper 5: Advanced Accounting
Students must focus on Accounting Standards because it covers a minimum of 20 marks and is easy to score.
Important questions must be practised on a regular and repeated basis.
Important concepts and formulas need to be noted down.
Prepare at least one question from the Buy-Back, Underwriting, or ESOP.
Company accounts receive an average of 30-35 points. Partnership accounts make up a large portion of the syllabus, so you must devote time to it wisely and efficiently.
Paper 6: Auditing and Assurance
Auditing and assurance is a difficult paper to score well on. As a result, the only way to succeed is to read and reproduce it in technical writing.
While studying, take notes, highlight each keyword, and go over them again and again.
You must focus on Auditing standards because they cover an average of 15-20 marks and are simple to interpret and learn.
Next, Company Audit is easy and interesting to learn. It covers an average of 30 marks of the question paper.
Paper-7: Enterprise Information Systems and Strategic Management
This subject is divided into two sections, one for Enterprise Information System (EIS) and one for Strategic Management (SM). EIS is difficult to learn and retain, whereas SM is easy to score.
The flowchart and Decision Table are the most scored and easiest topics in Enterprise Information Systems (covers an average of 8 marks).
Prepare summary notes while preparing for the exams.
The practice of writing the answers also as will improve the vocabulary.
Paper 8: Financial Management and Economics for Finance
The subject is divided into two sections: Financial Management and Economics for Finance. Financial Management accounts for 60 points, while Economics for Finance accounts for 40 points.
Begin with the chapter’s basic theory and formulas so that you can easily solve the difficult-level questions.
It is always preferable to begin and finish the small and simple chapters first. The reason is that all of the small chapters collectively contribute to a large weightage of marks. For example, leverage, ratios, etc.
Economics for Finance is fundamental, straightforward, and simple to grasp. Reading it thoroughly and comprehending the concepts will undoubtedly earn you enough points.
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