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 :)
           

>In most difficult papers, there are always few questions, which are easy . So start doing easy question your confidence  boosts up and U will be able to answer difficult too

FOR (PCC/IPCC)
>If unable to remember sections in Law, learn name of the Act with year , & in answer write
"As per  provisions of   <name of  act+ year>

Tips for exam:

>dont quote section numbers & case laws unless you are 100% confident
>Dont forget to round off  total income & tax payable to nearest 10/-

TIP:

Hello

IPCC students looking for mock test papers can click here

All the best for exams !

Harishree Mehta: Times Now’s most common face Harishree Mehta is a qualified chartered accountant. Her understanding of the stock markets is commendable, something that enables her to anchor some of the primary business shows on the channel.