How to start preparing for IPCC/PCC Nov-2010 By AYUSH AGRAWAL

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 Dear All PCC/IPCC/PE-II Students,

This is the End of Searching Article of Which You are Waiting.

 

During My Last Three Years Experience in Caclubindia.Many Students Who Passed CPT or Who are Going to Write Their Exam of PCC/IPCC In Upcoming Months.Ask How To Prepare For Exams.

 

Some Questions -  Common One Which are Asked by Almost.

1) how many hours to study daily?

2)which subjects consume more time and which less?

3)which are theoretical subjects and which r practical? what different treatment they deserve?

4)Do we need to practice some subjects regularly?

5) Iam giving both groups together and determined to study for 5 hrs daily other than class-hours.

How to study?

          

 General Guidelines: 

Ø      For every subject you should prefer Compilation of PEII and study from them considering your syllabus.

Ø      Start your study from your favorite subject.

Ø      Always prepare your own short but sweet notes.

Ø      Use markers, scatch pens, colour pens to make your notes attractive.

Ø      Be habitual of referring Dictionary.

Ø      Always prepare time table. Follow it strictly.

Ø      If you could not succeed in implementing your time table then try to make short time table i.e. weekly or even one day time table.

Ø      If you do not digest two subjects or more, then study only one subject a day.

Ø      Always maintain balance between your class study and self study.

Ø      Always complete your homewok/assigment on the same day.

Ø      Have a group discussion with your friends.

Ø      Use your short but sweet notes for revision purpose.

Ø      Always update your notes.

Ø      Do not read anything new before 1 or some days of exam or avoid them.

Ø      HOW MANY HOURS TO STUDY?
It is not important how much time you study but how much u grasp and understand.

Ø      But at least 1/2 hours should be given in presence of your mind and "soul”, otherwise it will  make a "whole" in your ship boating on a river.

Ø      Be Positive, innovative and honorable with ur study Always believe that "I can".

What are theoretical and practical subjects?

v     Theorotical:-Audit,Law,information tech.-SM(Here InfoTech takes max time)

v     Practical:- Accontancy,Income Tax and costing,FM
How to prepare? What to read? How to revise? What are the keys of success?

Accountancy:

 

Ø      Always prefer compilations of PEII, suggested Answers of PCC (Already  available), IPCC(Now it will be available).Without these you may not get exemption marks(at least 60).

Ø      Never avoid Accounting Standards(read it from V.K.Agarwal's book).

Ø      Some previous questions are expected to be repeated.

Audit:

 

Ø      It is the easiest subject as my own experience. Firstly study deeply all Standards on Auditing (SAs). Then refer your compilation of PE2.Then u should refer your study material. Grasp from study material what is not asked yet. Always mention relevant SAs, ASs, sections and case laws.

 

How to study part-2

v      Write your every theoretical paper in Point (Number wise) forms and not in Para forms.

v      Remember Knowledge of Audit=Knowledge of (Account-ASs, Law- Various Acts and sections, SAs and so on)

Ø      How to prepare for LAW
It takes some time at the initial time. Grasp the definitions, case laws and various sections.

Ø      Be habitual of mentioning the same (sections and case laws) in your answer paper.

Ø      Prepare a list of important sections.

Ø      Remember it and be revise it. Use some logic on sections, case laws etc.

Ø      If you read compilation you will find that many questions are repeated.

Ø      Never avoid communication and ethics parts if any attached with law.

Ø      Income tax/Service Tax/VAT
Two books are generally preferred by the students.

Ø      VK singhania and TN Manoharan.See here which Assessment year is relevant for the relevant exam,upto which date updates are required.

Ø      In this subject VAT and service tax is easy comparatively to income tax.

Ø      So study and write the same part in your exam at very first.

Ø      Be aware before selecting an alternative.

Ø      Firstly read the whole question then select the alternatives.

Ø      Costing:-
It needs more and more logic.

Ø      Where logic ends CA costing starts. SO be logician and innovative man for making command over this subject.

Ø      you must solve many and many practical examples from compilation.

Ø      Some theory part is important here.

Financial Management.

Ø      It is combination of theory and practical part.

Infotech

Ø      It takes max. time for preparation.

Ø      as CA students are not direcly related with theory part of computer.

Ø      Many students do not like it and hence get failed.

Ø      Remember definitions, focus on flow chart and other important theory part.

Ø      Use module here. For PCC you should refer compilation after completing module.
Always Use internet

 

SM.(stratagic Management)

Ø      It the theoretical part. Focus on practical case laws.
Be Electronically connected and updated

Always read CA students journal. Here president, chairman etc give tips for study,recent changes etc.

 

BEST OF LUCK!!!!

 

With Warm Regards,

Ayush Agrawal