CA-IPCC students have two accountancy papers. Paper 1 is Accounting, and Paper 5 is advanced accounting. In November 2021 Examination, the old syllabus students also appear as they were given an opt-out option in the previous examination. The November 2021 CA-IPCC examination has two question papers for the new syllabus and old syllabus as like July 2021 CA-IPCC Examination. The review from students who have appeared for July intermediate examination shows that the paper was lengthy and easy to secure more marks. Suppose the new syllabus and test series is confusing for the students. Taking up a mock test brings familiarity with the important questions from each topic. The ABC analysis is helpful for the students to know the marks and the value that they give to each chapter. Students habitually think about “how to prepare for the CA Intermediate November 2021?” In this blog, we provide insight about the ABC analysis of accountancy subject, question paper pattern of July 2021 CA-IPCC examination and the ways to manage lengthy Accountancy question paper.
ABC analysis of Paper one
The ABC analysis alludes students to prepare as per the marks. Vast coverage, value and less coverage are the three divisions to prepare CA Intermediate exam study planner for November 2021. It further disperses paper one vast coverage topics as an overview of accounting standards and accounts from incomplete records. The next row of chapters with value is financial statements of Companies, the redemption of debentures, investment accounts, insurance claims for loss of stock and loss of profit, departmental accounts, hire purchase and instalment sale transactions, and accounting for branches including foreign branches. The next row of chapters with less coverage includes a framework for preparation and presentation of financial statements, profit or loss pre and post-incorporation, accounting for bonus issue and right issue, introduction to accounting standards and redemption of preference shares.
ABC analysis of Paper Five: Advanced accounting
The ABC analysis for advanced accounting makes the preparation easy with the division of the subject with vast syllabus coverage, value and less coverage. The study plan for CA Intermediate November 2021 shows that chapters with vast coverage are the application of accounting standards, an amalgamation of companies, and consolidated financial statements. The chapters with value are partnership accounting, accounting for the reconstruction of Companies, and banking Companies. The chapters with less coverage are accounting for employee stock option plans, buyback of securities and equity shares with differential rights, accounting for liquidation of Companies, and non-banking financial companies.
Question paper pattern of paper one
To manage the lengthy question paper, complete knowledge and practice with weekly tests and mock tests help abruptly to the students. If the chapters with less coverage were used to drag the time of student’s writing, then completeness of preparation help to secure more marks. Focus on complete syllabus and practice more than 20 to 30 times which helps for time management. The AS-3 accounting standard states the cash flow statement. The cash flow statement in the question paper falls under two topics: an overview of accounting standards and financial statements of Companies. The Companies financial statement comprises the balance sheet, statement of changes in equity, profit and loss account, cash flow statement, and footnotes with explanations. The cash flow is helpful to ascertain the liquidity of the Company. AS7 is the accounting standard that also says about cash flows. Cash flow consists of three types of activities, namely operating activities, investing activities and financing activities. Questions are framed to cover multiple chapters. So, learn the complete syllabus and practice for more time to secure more marks at an intermediate level.
Question paper pattern of paper two
The decision about equity share capital, preference share capital, voting rights and rights during winding-up is the crucial topic that educates about the crucial process in the listed Companies. Similarly, AS-24 is the discounting operation. The cash flow of the Company comprises of the details regarding operations, finance and investments process of the Company. The Companies final accounts and application of accounting standards is a practical subject. Accounting standards such as 20, 9, 26 and 7 are easy to work out. In the intermediate level, preparing the vast coverage topic and hardest topic accounting standards help for taking up the toughest question paper.
Plan the syllabus as per the ABC analysis and practice the model question paper more times. The learned secret from the AIR of RR Academy is perseverance. RR Academy had commenced the classes for November 2021 intermediate chartered accountancy students. Syllabus completion with a focus on clarity and practising question paper for every chapter has a positive impact on the marks of the students. The faculties take immense care in completing the syllabus with doubt session and Q&A session towards the end of the Class. Weekly tests, monthly tests and mock tests help for completing the question paper on time. “Practice” is the mantra of intermediate level and final level students of the chartered accountancy course.