ICAI had announced that the students writing intermediate examination after foundation must take coaching for six months. Previously this period was for eight months, and now this was reduced to six months. ICAI relaxes the study period for May 2022 applicants. The May 2021 foundation examination happened in July. The result for the foundation came in September. Till November 1st of 2021, the students have the option to register for the intermediate course. In general, the registration window for May closes by July. The last date for CA intermediate registration extended till November for May 2022. So, CA intermediate examination in May 2022 will be conducted with a concession of two months less. As November 2021 is the last attempt for the old syllabus students, CA IPCC old course was discontinued from ICAI May 2022 exams. RR academy faculties have specialized knowledge to make the students understand the amendments with futuristic values. This blog shed light on the preparation required in six months for the CA intermediate students.
First three-month study strategy for intermediate:
For May 2022 examination, the amendments before six months are included. So, the amendments made up to October will reflect in the subjects. The amendments are in auditing, tax and Company law. Corporate management accounting, accounts, advance accounts, FM and Economics, and EISSM are the subjects with no changes. So, learn the static subjects more and the dynamic subjects with amendments for less. Attend the RR academy classes for all the subjects. Coaching and self-preparation have differences as per the capacity of the student. Learn all the CA subjects with importance to the difficulty level and revision.
Last three months study strategy for intermediate:
No genius can study the same subject and beat around the bush. The point is the schedule for intermediate must consist of all subjects with the proportion as per the interest. Direct route students might have undergone article ship training before the intermediate exam. And the foundation route students do the article ship training after the intermediate examination. Practical exposure helps the direct route students to understand the subject. Any way students devote 4 hours to 6 hours for CA coaching. Every week the timetable is as per the syllabus and faculty availability. During the class, the students have a question and answer session and a doubt session. Students tend to have a systematic conversation with the faculty. Eventually, at RR Academy, the syllabus coverage is as per the subject and amendments made to the subjects.
During the last three months give more importance to the subjects with amendments. Auditing, tax, and company law and other law are the subjects with amendments. Learn the previous year question paper for subjects without amendment that tell about the pattern of ICAI. For preparing subjects with and without amendments practising the RTP many times designed by ICAI help a lot. There is an unanswered question that “how the amendments help the student to understand the subject better? It is good for the students to know the value of amendments and the syllabus of the chartered accountancy course.
Do you think the amendments are as per the market challenges?
Every year, in February, the budget session will bring changes to the tax laws and company laws. So, after February 2022, the subjects taught will reflect the pulse of the Indian government. The start-up companies, MSME units, technological development, and digital architecture for students to learn, one-person companies, and rationalization with the customs duty for electronics, telecommunications, start-ups and MSME units, and the transport infrastructure were the focus of the government in the year 2021. The government is planning for more than 400 exemptions for customs which will take effect from October 2021. The exemptions are under debate for introduction to the business houses. Customs duty and GST has connections in global transactions. As the companies involved in import, export and supply chain at the border, there is a difference in the tax rates. The impact of other laws on tax makes the amendments difficult. Chartered accountants advise about the calculations and changes of GST functions and customs.
The digital platform for e-adjudication, e-scrutiny, e-consultation and digital payments also promote the digital census. The digital census project has been handled initially by TCS, and it is now handed over to Infosys. This project enhances the value of data analytics, machine learning, and artificial intelligence. The digital system help for scrutinizing tax evaders. Technology, custom duty, and company law have changed because of budget. These changes will have an impact on the chartered accountancy subjects company law, tax law and auditing.
Conclusion:
The government allocate time to review the challenges with the business, manage the new business processes and monitor the performance of the business. So, the expenditure and the performance of the different regimes requires amendments. Planning the business operations and checking the financial improvements are essential for the constant growth in multiple sectors. So, chartered accountants need to read the subject intensively. For intense learning, understanding the previous year question papers, practising the RTP and working on amendments are crucial. The six month period is sufficient to learn the intermediate subject if the student has the right mentor and schedule. So, choose the ideal institute as a learning partner and win over the CA intermediate examination with six months of hard work. ICAI CA intermediate course: Relaxation in the study period is an opportunity to complete the course on time.