Wassup guys! I hope you all are doing fine! Let’s cover our one of the most demanding topic “Subject wise strategy for CA INTERMEDIATE”.
As discussed in our earlier article we all know that CA INTERMEDIATE requires 3Cs: Co-operation, Consistency and concentration.
Before switching up to the topic of subject wise strategy, let’s talk about if we must go for Single Group or Both Group in our upcoming attempt.
SINGLE GROUP OR BOTH?
To make it clear, there are pros and the of opting single group, and too for double or both groups also. Where the pressure of studies is comparatively less in single group, the plenty of time is saved in overthinking, in the preparation of both groups. You will be concentrated and focused in studies, due to the study pressure of attempting both groups.
Where Single group gives you leniency in preparation, the double group provides you a set-off advantage. The set-of advantage can be understood in this way, like if you have scored 230 in Group 1, and you are passed in Group 2 individually in all subjects, but the aggregate marks comes to 170 only, then also you will be considered as passed because the total score of both groups will be marked as 400.
The major differentiating factor for opting out single or both group is study pressure only. If you think you can manage the study pressure, and can give necessary revisions to the subjects, then for sure, you must go for both groups.
The Subject wise strategy may differ for student to student, but I will be penning down the strategy which has worked on most of the students.
GROUP 1 SUBJECTS
- Accountancy: (As per the OLD SYLLABUS):
The first and foremost paper that comes is Accountancy, which is one of the most scoring subject. Most of the students are able to clear this exam, due to step-marking factor. It must be taken into mind that, Accountancy can be a major reason of turning your result of failure into PASS. If you are able to score an exemption in Accountancy, then for sure, you are having an edge over others.
Accountancy includes 2 portion, one is Accounting Standards, and the other is Chapters. The Accounting standards weighs fixed 20 marks compulsory question, and the chapter includes Hire Purchase, Insurance, Investment, Branch Accounting and many more.
Talking about the difficulty level of this exam, to be honest, if your concepts are cleared, then you can definitely score 70+ in this exam.
Most Important, you have to make sure you are doing each and every question of ACCOUNTANCY STUDY MATERIAL as provided by the ICAI. I have seen that most of the students prefer faculty’s notes over the ICAI study material by thinking that the questions will be covered in the notes only. But, trust me, you must do ICAI study material. Even if the notes covers the ICAI study mat, you must do at least thrice, each and every question of ICAI STUDY MATERIAL.
2. Corporate and other laws: (Same in NEW as well as OLD Syllabus)
The Accountancy exam is followed by the Corporate and other law exam, simply say, LAW exam. This examination includes 148 sections, and plus some basic details of others. To succeed in this exam or to get an exemption, you have to daily practice each and every question and section.
The writing practice is a must in this examination. You can refer and faculty’s notes, but make sure you write provision as per the law itself. You have to use that technical jargon and the keywords to fetch some good marks. I have scored 60, at my time in this examination due to writing practice only.
You must practice Last 5 years PYQs + RTPs + MTPs, to get a good confidence in this exam. May be you will be able to see some exact questions as well. You can contact me through Linkedin, and I will be sharing with you some Important questions, during your examinations, and you may get some same questions.
3. Cost and Management Accounting (Only for NOV 23 Attempt)
You know what, Costing Subject is difficult, but trust me, it can be one of the subjects to get you PASS. No doubt, you have to do a lot of hard work for this subject, but if you are following a conceptual base, then you can really fetch a good marks.
Similarly, like Accountancy you have to focus on Study Material, and must do each and every question of the study material. No matter how easy it is, you have to solve it. Let me tell you, in examination hall, you can fumble on even an easiest question. So, don’t avoid any question of costing study material. You can do questions from the notes of any faculty, but solving study material is a must. Talking about how many times, so, I will say 2-3 times for sure.
Yeah-Yeah! Taxation! The most dreadful subject of Group 1 is Taxation only. You may clear all other 3, but clearing taxation is really difficult. Even getting 40 in this exam, is a sky touching task. And the person scoring an exemption in this exam, you must salute to him.
See, taxation exam, not only test your concepts, but also tests your retention power. You have to remember minute to minute things in taxation examination, in your exam hall.
It must be advised that, you must prepare well, by adding full attention to your lectures, and revisions as well. I won’t recommend any number for taxation exam, because the more you do, the better it is.
The Indirect Taxation is relatively easy, and comes for 40 marks, so you must aim for 25-30 in that part, and rest 15-20 marks out of 60 from the direct tax portion. Also, the compulsory question of 14 marks is advised to be done at the last, after attempting whole paper. You can fetch good marks in TDS/TCS portion, House Property Portion and capital Gain portion as well.
The subjects of Group 1 ends here , as per the OLD SYLLABUS.
GROUP 2 SUBJECTS
5. ADVANCE ACCOUNTING (As per old Syllabus)
Similar to Accountancy exam, the Advance Accountancy includes Accounting Standards, and Chapters. The Accounting Standards weighs 25-30 marks here, and the rest by chapters. The Advance Accounting subject has been merged with Accountancy exam in the new syllabus, and the weigh of Accounting Standards has been increased.
The Advance Accountancy too have step marking advantage, and is the most scoring subject of Group 2. Trust me!
Similar to Accountancy, you must focus on Study Material, and shall do at least 3 times revision of each and every question of study material. You can do questions of every faculty, but make sure you are done with study material at first.
6. AUDIT AND ASSURANCE
If you will ask any CA ASPIRANT, who has failed in group 2, he or she, will definitely point out Audit and Assurance, as one of the major reason for the same. Actually it is! It’s very difficult for the CA Aspirant to fetch marks in this exam, and that is the reason, Advance accountancy assist in setting of the loss.
Audit required high-understanding, and conceptual clarity. One must have to write the ICAI language at most of the time to get marks, in this exam. The Audit exam includes 30 marks MCQ, and 14 marks Correct-Incorrect, which only acts as the bridge between PASS or FAIL. You will be short of words in the rest exam, but if you have scored well in these 44 marks, then for sure you are PASS.
The Audit exam requires MNEMONICS to assist you to write the answer.
7. EIS AND SM
Why Good news for Group 1 students only? Group 2 students too have a good news, that the most dreadful subject is out from syllabus. Yes! I am talking about EIS & SM. No doubt, it is difficult in Audit exam to write the same wordings as ICAI demands, but in this examinations, students don’t even know what to write.
The syllabus of this exam is vast, and you have to write the headings, as provided in the ICAI study material. But, the plus point is that, the questions come damn straight, and if you got the headings, then you can write the inner material of your own choice.
The Only thing that can save someone in this examination is retention power, and continuous revisions.
Talking about the EIS PORTION, the same is vast but the SM part is more easier than EIS, so make sure you score good in SM. EIS is vast, so you can take a step of risking one chapter, and doing the most important questions of the same.
It is better to do 80% syllabus with 100% retention, rather than doing 100% syllabus 80% retention only.
8. FINANCIAL MANAGEMENT AND ECONOMICS
Some students may find it boring, but this is also a major sort of scoring subject. If your concepts are strong, and the retention power in economics is strong, then you can aim an exemption in this examination.
Similar to accountancy and the advance accountancy, you have to be focused on ICAI STUDY material questions at first, then referring to other faculty’s notes.
See guys, Passing CA INTERMEDIATE is not a cup of tea, but also not a hill climbing. You can definitely clear CA INTERMEDIATE, if you are consistent, and focused. You must do RTPs and MTPs for sure. The more practice you will do, the better the results will pop up. I am again saying, don’t ignore the study material. I will tell about my story of converting 167 to 247 in one attempt.
I actually gave single group that is Group 1 at first, but failed by scoring just 167, and then in the immediate next attempt, I appeared for both groups, and cleared both by scoring 247 in Group 1 only. I will be sharing the story in next article. Stay Tuned.
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