A must read If you are an IPCC student

All around you can see happy faces with charm of smile,
whether or not you have done well in exams the stress has ended.
Finally there is a time for you to relax..!

But is it really what it seems??

lets talk about this..

*holidays:
There is no such term in books of CA students. If you look for holidays you can have many holidays in your way during course.
Do Not be in such innocence your pursing one of the best courses.
Do not compare your schedule with other courses.

*Use This time:
No free time is this period you have two options before you.
ITT:
Take up an ITT coaching and get the orientation.

Early Effort:
No one can now teach , about the IPCC anymore. You are now
aware of the Standards of ICAI, Question papers, the content and
intelligence you are demanded. Recollect your stuff start from where it was halted and continue to study. The basic mistakes done by all is thinking this time as free time make it spare time and not idle time or unproductive time :)

*Create your Strategy:
Experience is the best teacher now you are well experienced.
Plan your own strategy and if you go on well may 2013 if you celebration time

*Last attempt:
Consider you have only one attempt more thats it.
Indulge yourself in DO or DIE situation or
Do BEFORE YOU DIE.

*Believe:
Believing in self most vital you know what you can do...
no one needs to tell you about that .
be Committed , determined , honest with your work..

Even GOD can not Fail you,
ICAI is too little thing :)

keep visiting our page and
Last drop your comment we value to hear you

IPCC


IMPORTANT TOPICS OF AUDIT :
1. BASIC PRINCIPLES GOVERNING AN AUDIT
2. FUNDAMENTAL ACCOUNTING ASSUMPTIONS
3. INHERENT LIMITATIONS OF AUDIT
4. COMPLIANCE AND SUBSTANTIVE PROCEDURES
5. STRATIFIED RANDOM SAMPLING
6. FACTORS AFFECTING CONTROL ENVIRONMENT
7. INTERNAL CONTROL QUESTINNAIRE
8. CONCEPT OF AUDIT RISK
9. DETERMINE TO WHAT EXTENT INTERNAL AUDITOR WORK CAN BE USED.
10. APPROACHES TO EDP AUDITING
COMPANY AUDIT  1 & 2
1. SEC 224 (2) ,224 (5), SEC 225 , SEC 233A
2. CONCEPT OF ACCOUNTING STANDARDS
3. DIRECTOR RESPONSIBILITY STATEMENT
4. AUDIT OF DIVIDEND
      AUDIT REPORT
1. FORMAT OF AUDIT REPORT
2. APPLICABILITY OF CARO ,2003 AND CLAUSE  7 ,9 ,10
SPECIAL AUDITS
1. HOSPITAL
2. NPO
3. LOCAL BODIES
GOVT. AUDIT
1. POWERS OF CAG
2. EXPENDITURE AUDIT
OTHER TOPICS
CUT OFF PROCEDURES,  EXAMINATION IN DEPTH, GUIDANCE NOTE ON PROPOSED DIVIDEND,  CONCEPT OF DEPRICIATION (AS 6),  AUDITORS LIEN’S , PROFESSIONAL SKEPTICISM.
IMPORATANT STANDARDS ON AUDITING
SA  210,  230, 260 , 320,  501 , 540,  580,  610, 620

VOUCHING / VREIFICATION
FACTORS WHICH CAN INCREASE/DECREASE GROSS PROFITS
PRELIMINARY EXPENSES, PAYMENT OF INCOME TAX,BAD DEBTS RECOVERED,INTANGIBLE ASSESTS, FIXED ASSESTS…….

Review of Costing and Financial Management paper Group 1 IPCC(Nov 2012)
*Covered Topics :
FM
Time Value if money :                     -5
Financing Decisions                         -5
Financial Analysis and planing          -8
Funds Flow Statements                  -12
Capital Budgeting                          -12
Theory                                         -20

Total                                            =60

*costing
Labour                                         -5
Materials                                     -5
Overheads                                   -8
Contract Costing                          -4
Standard Costing                         -6
Marginal Costing                         -8
Reconciliation                            -8
Theory                                    -12

Total                                      =56

*paper Analysis:
All might have entered the exam hall with lot of tension as fear.
But when you have read the paper it would have cooled you little bit and made you relax.
because the paper was again not so litigated and was average.
Thanks to ICAI it has covered the important topics first.
Time Value of money was also  given an importance thats the highlight.
Huge marks from theory making you remember that it should be never be ignored.

*View:
As expected the paper was not made tougher. Basics concepts again.
No one would have complaints with the paper in any regards.
Till now no paper was so critical and this paper is worth of exemption :)

**Theory:
Theory has also the equal importance as practical questions constituting about 32 marks.

SO we do expect this TAX paper to be the same

ALL THE BEST :)
                     

CA IPCC LAW NOV 2012 QUESTION PAPER


Review of Law Group 1 IPCC(Nov 2012):

Covered topics:
Companies Act                           -5+8+4+8+4+4
Business Communication                 -5+5+4+4+4
Business Ethics                        -5+5+4+4+4
Contract Act                            -5+8
Negotiable Instruments Act              -8
Payment of Bonus Act                   -4
Gratuity Act                            -4
Provident Fund Act                      -4
Deeds and legal Drafting                -4+8

*Uncovered Topics:
nothing

*Paper Analysis:
the Paper is designed in a very tactic way. Giving weightage to each and every chapter.
no topic was ignored and . No critics against ICAI for this paper as it has stuck to its words.
ACTs were compeletly covered. IF this trend is followed then smart work can easily ensure you succes in upcoming exams.

*View:
Sorry to say but as the portion is vast it has not been easy to answer whole the paper but those who have
read selected topics completely like Co"s act,BC, Ethics can make you pass this exam and also exemption.
It is cleared again that no such important topic is there in ICAI's syllabus.
So make up your mind to read or at least have brief idea on what is asked.

*HINT:
This surely is hint that in upcoming exams no topic will be ignored .
Case Study has been asked after along time and that s also a good news.

All the best for some of toughest exam :)

          Review Of accountancy group:1

*Covered Topics
As per highest marks covered
1.Partnership Accounts                                               -21(5+16)
2.Amalgamation                                                          -16
3.Incomplete records or single entry                            -16
4.Hire Purchase                                                          -13(5+8)
5.Accounting for bonus issue of shares                         -8
6.Investment accounts                                                 -8
7.Accounting Standards                                              -8
8.NPO                                                                       -5
9.Self balancing ledgers                                              -5
10.Average Due Date                                                -4
11.Accounting in computerized environment               -4

*Uncovered topics
Profit and loss pre/prior
Company accuonts
Internal reconstruction
Account Current
Cash flow

*Paper analysis:
Partnership accounts with basic concepts and revaluation concept.
Amalgamation in nature of merger
Hire purchase under reverse calculation method and hp Adjustment account.
Single entry with ratio and analysis combined.
NPO with basic concept.
Accounting for bonus issue with lots of basics from cpt .
Self balancing with basic concept.

*View:
ICAI by this paper has once again proved that a student has to be through all the topics.
With lot of basic concept asked and no critical things but the paper was made lengthy to
maintain its standards.
Overall average can be ranked but those who have started the paper with 16 marks may have
felt some tension in completing the paper.
Majorly importance was given to journal entries, which are usually not notified by students
to that extent.

*Shock:
Unable to find internal reconstruction, cash flows may have bothered to some reason.
NPO asked for 5 marks is matter to worry along with AS.
both 16 marks are not easy to answers completely .
covering all the remaining questions with some good presentation in long questions
can surely lead you to exemption.
lost marks can be covered in remaining exams


Wishing you All THE BEST

HOPE THIS EXAM ALSO GOES WELL :)