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HOW TO PREPARE CA INTERMEDIATE NOVEMBER 2022 GROUP 2 PAPER?

  • 03 Aug 2022

Group 2 paper of CA intermediate mainly consists of 4 subjects. With the inclusion of the newly introduced subject Financial Management and Economics for finance, now you need to work a bit harder.  FM was part of group 1 before but now it’s a part of group 2.  However, group 2 is still on the easier side than group 1 paper.

Group 2 papers consist of

  1. Advance Accounting
  2. Auditing and Assurance
  3. Enterprise Information System and Strategic Management
  4. Financial Management and Economics for finance

Preparation strategy for Advanced Accounting

  1. Attempt all the sample papers available on ICAI websites, and practice those questions multiple times.
  2. Company accounts and partnership accounts are the two most important sections, give them the required time.

Contents to be covered-

  • Accounting standards
  • Guidance notes issued by the ICAI on specified accounting aspects
  • Special aspects of company accounts
  • Reorganization of companies
  • Financial reporting of banking, financial services, and insurance (BFSI)
  • Valuation of goodwill
  • Consolidated financial statements

Preparation strategy for Auditing and Assurance

  1. In the audit, writing practice and presentation of answers is very important, that’s where the examiner checks your command over the language.
  2. Don’t consider this topic as bookish, understand the provisions and practice that in writing.
  3. It is considered to be a bit complex, so revisit your notes and summaries again and again.

Contents to be covered-

  • Nature, objective, and scope of the audit
  • Audit strategy, audit planning, and audit program
  • Audit documentation and audit evidence
  • Risk assessment and Internal control
  • Fraud and responsibilities of the auditor in this regard
  • Audit in an automated environment
  • Audit sampling
  • Analytical Procedures
  • Audit of items of financial statements
  • The company Audit
  • Audit of banks
  • Audit of different types of entities

Strategy for Enterprise System and Strategic Management

  1. This subject has two parts: EIS and SM. EIS is an enterprise Information System and SM is strategic management.
  2. Flowchart is one of the most important concepts of EIS, so practice it, again and again, to make it your strong zone.
  3. Give emphasis on language proficiency. Command over English or Hindi covers good marks.

Contents to be covered-

  • Automated business process
  • Financial and accounting systems
  • Information System and its components
  • E-commerce, M-commerce, and emerging technologies
  • Core Banking systems

Preparation Guide for Financial Management and Economics for Finance

  1. This subject is divided into two micro niches.
  2. Financial management covers the majority part that weighs 60 marks and economics for finance weighs 40 marks.
  3. Cash flow and fund flow are two topics that you should focus on. Focus on practical parts as well, don’t leave it.

Contents to be covered

  • Financial management and financially analysis
  • Financing decisions
  • Capital investments and dividend decisions
  • Management of working capitals
  1. Attempt sample papers within the time limit to enhance your under-pressure performance and writing speed.
  2. Language command and writing are two important aspects of this exam so focus on them.
  3. Prepare your own notes and summaries and try to revisit them on a daily basis. This will keep you updated on all subjects.
  4.  Must download and practice sample paper available on the ICAI website.

There are tons of topics and subtopics to cover, make a priority list on the basis of marks, weightage, and importance.