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Crucial Tips For Advanced Accounting

  • 23 Jun 2022

Advanced Accounting is considered to be one of the most crucial subjects for CA Intermedia preparation. you can also score well just by following a few instructions that we are offering now. Through passing this exam you can excel the accounting techniques and become a pro accountant in the future. Before sharing some tips with you, let’s look at the weightage of the different topics of the subject.

Sections

Weightage

Content

1

20%-26%

Application of Accounting Standards

2

33%-38%

Company Accounts

2(A) Special Aspects of Company Accounts

2(B) Registration and Liquidation of Companies

3

12%-16%

Banking companies and Non-Banking Financial Companies and regulatory requirements thereof

4

25%-30%

Consolidated Financial Statements

Dissolution of partnership firms

 

  • Before you begin, familiarize yourself with the basic accounting terms and concepts. You can use the NCERT textbook for class 12th. It will suffice to devote 1-2 days to brushing up on the basics.
  • Make it a habit to practise questions related to the theory you've read while you're studying. Combining theoretical and numerical problems is a good idea. This will assist you in fully comprehending the concepts.
  • Don't forget to study the material provided by the ICAI. Read all of the theory and put it into practise questions.
  • Keep important concepts and equations in a separate notebook. This will serve as a guide for you a day before the exam, do some revision.
  • This is a practical exam, so you'll need a lot of practise. There will be a few questions that you will have to answers even after several trials, it will look to be difficult.Make a list of such questions so that you can refer to it later before exams, you might have a brief look at these.
  • The importance of accounting standards cannot be overstated. Spend a considerable amount of time on them. 
  • Make an effort to memorize a couple of key paragraphs. These can be beneficial to quote during the examination.
  • Learn how to operate your calculator effectively and get familiar with all of the shortcuts. This will assist you in saving a significant amount of time
  • Don't waste time on things that aren't important. You must set a time limit based on the importance and weight of various topics.
  • Do not adhere to someone else's schedule. Every person learns in a different way.  When planning your schedule, keep your capabilities and core strengths in mind.
  • Practice tests should be attempted as soon as you finish the syllabus. Set a minimum goal for yourself, like before the exam, take ten practise tests.
  • ICAI gives 15 minutes to students to read the paper at the beginning. These 15 minutes are extremely crucial and if utilized properly can definitely help you to score well. 
  • For practical subjects like these, you do not need to have beautiful/extraordinary presentation skills. However, basic hygiene is a must. You need to have an answer sheet which the examiner wants to read. 

Even though these are the important topics, we need to read the entire syllabus to score well and to face the unexpected twists by ICAI. We hope you have got a comprehensive view on how to prepare for accounting and advanced accounting for CA Intermediate.