CA IPCC IMPORTANT TOPICS FOR NOV-14 GROUP 1 PAPER 1: ACCOUNTING Partnership Accounts Not-for-profit organizations Amalgamation Cash flow Single Entry System (Accounting from incomplete records) Accounts in computerized environment Exam Tips: I’ve already given here How to get 50 marks in CA IPCC accounts easily. Accounts subject has much portion of accounting standards. For accounting standard questions, give reference to the related accounting standard before computing the sum. Also, give brief about the point asked in question before computing the final answer. PAPER 2: BUSINESS LAWS, ETHICS AND COMMUNICATIONS Indian Contract Act :- 1. Case study based on ” Acceptance of Offer ” & ” Bailment “. 2. Offer & rules for an offer. 3. Capacity to contract. 4. Circumstances under which doctrine of Supervening Impossibility not applicable. Payment of Bonus Act : 1. Payments part of Salary 2. Deductions under Third Schedule 3. Categories of employees exempted for payment of Bonus Act. EPF :- 1. Payment part of ” Basic Wages “ 2. Composition & Functions of Central Board of Trustees 3. Recovery of money dure from employers Gratuity Act:- 1. Period for which gratuity payable. 2. Forfeiture of amount of gratuity 3. Disputes resolved. Company Act :- 1. Conversion of Private to public company & vice-versa. 2. Incoporation of Company. 3. Effect of registration 4. Moa & AoA & MCA 5. Prospectus – Requirements, Matters to be stated, Shelf Prospectus, Remedies against Directors, Promoters & experts in case of misstatment in prospectus. 6. Small Depositors 7. Effect of irregular allotment, underwriting, Sources of fund for buy – back. 8. Contracts 9. Futher issue of capital like right issue and alteration & reduction of share capital. 10. Transmission of shares & Capitalization of profit. 11. Registration of charges 12. Meetings Ethics :- 1. No economics growth without ecological costs. 2. Ethics and morals. 3. Iron law of Responsibility 4. Social Accountability – 8000, Corporate Governance & Characteristics. 5. Fairness & honesty are pillars of success in business. 6. Measure to ensure ethics at work place & Harassment at work place. 7. Sustainable Development and Responsibility of Industries. 8. Guidelines themes on consumer protection & consumer rights. 9. Creating Ethical Environment in company, 10. Reason of unethical behaviour among financial & accountancy professions. In addition, Corporate governance and CSR, GTI, Conservation of Natural resources, Consumer Acts consumer related matters, Fundamental principles relating to ethics, Ethical threats, and Ethical dilemmas. Communication :- 1. Communication Process 2. Principles, Merits & Demerits of Oral communication. 3. Barriers to communication ( Specially Semantic Barrier ) 4. Ethical Dilemmas 5. Affidavit & Gift Deed 6. Notice of Meeting In addition, Drafting deeds (Most IMP), Types of communication, Grapevine communication. For law, write relevant sections wherever needed only if u r 100% confident about it. Ethics and communication answers should also contain your ideas and views. You can score well in it if you have good vocabulary. PAPER 3: COST ACCOUNTING AND FINANCIAL MANAGEMENT You should complete these chapters in one month Costing :- Practical Question Marginal Costing – P/V Ratio & Key factor, Standard Costing – Material & Labour Variances, Contract Costing, Process & Equivalent production mixed question, Integrated Accounts, Direct Material – Re-order, Maximum & Mimimum level of stock, Halsey & Rowan Scheme. Theory Conversion & Sunk Cost, Cost Centre, Controllable & Uncontrollable Costs, Service Cost, Explicit & Implict cost, Treatment of Spoilage & Defectives, Bin card & Store Ledger, Pre- requisites & Advantage of Integrated Accounts, Cost plus Contract. FM :- Theory Wealth Maximization v/s. profit maximization, Role of CFO, Limitation of Ratios, Functions of Treasury Department, Lock box System, Ageing Schedule, Commercial Paper, ADR & GDR, Seed Capital Assistance, Bridge Finance, Factors into consideration while determine working capital. Practical Question Financial Leverage, Preparation of Balance Sheet with help of different ratios, Time Value, FFS, Working Capital, WACC, IRR, NPV, Cash Budget, Factoring. Exam tips: Use working notes wherever necessary for costing. Do not get panic by seeing the question as it may be twisted. Read the question slowly and try to find that point which may help you in solving the question. Use the table format for solving the questions of F.M. It looks eye catching. PAPER 4: TAXATION Part 1: Income Tax Full-fledged question: With combo of three heads (e.g. Salary+HP+IFOS) (Compulsory) Profits and Gains of Business or Profession (separate sum on amended portion) Set-off carry forward OR Exempted Incomes u/s 10 Clubbing of income Deductions from Total Income GROUP II PAPER 5: ADVANCED ACCOUNTING AS Insurance companies’ financial statement Banking companies financial statements Branch accounts OR Dept. Accounts Advanced issue in Partnership or Amalgamation (if asked in 1st group then chances to ask by ICAI is 70:30) Exam tips: It is advisable to solve examples of Study material & questions of Practice Manual in Accounting Standards. Most probably question of Electricity will come out of Practice manual or RTP. For sums of chapters like electricity, banking and insurance, draw proper formats without missing any point. PAPER 6: AUDITING AND ASSURANCE Should prepare below given topics first. 1. Start with company Audit I & II friends…. this both chapter cover around 30 marks. As this cover 30 marks so read each and every topic in it. 2. Special Audits – Club Audit, Educational Institution, Hotel, Cinema Hall, Advantages of audit of accounts of partnership firm. 3. Verification : Cash, Depreciation, Contingent liability, Subsequent Events ( SA 560 ) , Cut-off Procedures, Personal Exp. of Directors & Analytical Review ( SA 500 ). Do this chapter and vouching in last. Best book for doing this is Practice Manual. 4. Internal Control – Audit Risk, Audit Trail, EDP Auditing Approach n other related topic to EDP. 5. Preparation of Audit – Audit Techniques, Audit Programme, Audit Sampling ( SA 530 ), Continuous Audit, Letter of Engagement, Management Representation. 6. Chapter 1 & 2 – Audit Evidence & Methods of obtaining it, Compliance & Substantive Procedures, Going Concern Assumption, Joint Auditors ( SA 299 ), Principles governing audit, SA 200, Types of Error ( Specially Commission & Casting ), Operational Audit, Detection of Fraud & errors, Audit Engagement Letter, Inherent limitations of Audit. Intro of Audit (with relevant SAs relating to those chapters) Basic concept of Audit (with relevant SAs relating to this chap) Company audit CARO related provisions Special audit Exam tips: Write answer point wise. Also use the practical knowledge while writing answers of auditing as it shows your understanding of subject. PAPER 7: INFORMATION TECHNOLOGY AND STRATEGIC MANAGEMENT Part A: Information technology [50 marks] - Exam Tips: Use technical terms in the point wise presentation and in explanation use normal wordings. In this paper, definitions are asked of around 15 marks. So write definitions in clear and precise manner. Part B: Strategic Management First prepare below given important topics Chapter 7 – Bench Marking, e-commerce/ ERP, Business Process Re- engineering, TQM & Traditional Mgt. Practices, Rationale of BPR. Chapter 6 – Diff. b/w Strategy Formulation & Implementation, SBU, Matrix Structure, Network Structure and Value Chain Analysis. Chapter 5 – Penetration & Skimming Pricing, Marketing Strategy Techniques, Implementing Supply Chain Mgt. System. Chapter 4 – Corporate Strategy Formulation implementation process, Various Grand Strategies, Concentric & Conglomerate Diversification, Turnaround Strategy. Chapter 3 – GE Model, Ansoff’s Matrix, Product Life Cycle, Common Driving Forces and BCG. Chapter 1 & 2 – Strategic levels in organization, Mission & Vision, Objectives & goals, Task of Strategic Mgt., Generic Strategic Alternatives, Definition of Strategy, Porter’s Five forces model, Kieretsus, Manifestation of globalization.
Posted on: Sat, 18 Oct 2014 05:57:34 +0000
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