Preparation Strategy for CA Inter Group 1 Nov 23 Exams
Planning to appear for CA Inter Group 1 Exams? Need not worry, we have got you a Study Plan to Crack CA Inter Exams.
CA Intermediate Group 1 Subjects:
There are 4 subjects in this group.
Paper-1: Accounting (100 Marks)
Paper-2: Corporate Laws & Other Laws (100 Marks)
- Part I: Company Law (60 Marks)
- Part II: Other Laws (40 Marks)
Paper-3: Cost and Management Accounting (100 Marks)
Paper-4: Taxation (100 Marks)
- Section A: Income-tax Law (60 Marks)
- Section B: Indirect Taxes (40 Mark
In Group 1, Accounts & Costing are Practical Subjects, whereas Law & Taxation are Theory Subjects. In Law & Tax, 30% of Questions are MCQs (objective) based, and 70% of Questions are Subjective based.
*Please note that the practical papers may include a few theory-based questions, but the majority of the paper will be practical. Vice-versa holds good for theory papers.
CA Inter Study Plan
A comprehensive study plan is necessary to give proper time to each subject. Some students unnecessarily devote more time to theory and less practice time. Sometimes students constantly read the material without any theory as to whether their brain was accepting digits. Trust us, there is no benefit to reading the same point over and over again, you need to revise yourself and test.
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The main focus for this paper must be on Accounting Standards as it is an easy area to score at.
The first and foremost rule for Accountancy is to not mug up but to understand the various concepts and topics. This is important to make the base strong which will further help in solving various difficulty level questions.
Important questions must be practiced frequently and repeatedly.
Maintain a study journal to note down:
Easy to access notes
This must be done to ensure ease and no commotion at the time of final revision.
Paper-2: Corporate and Other Laws
As per the latest notice by ICAI, Paper 2 will be partially subjective and partially objective in the ratio of 70:30.
This places extra pressure on your side, so as to ensure to not miss out on any topic lest you mess up the 30 marks objective session.
Theory papers need to be answered in a technical manner. Your vocabulary and technical presentation will be judged to a great extend and therefore, over and above understanding concepts, you also need to master the art of mugging up important terms and sections.
Corporate law has the highest weightage and hence, make sure you attain a strong base on the same.
Law comes with the risk of boredom since it’s pure theory. This is the outlook and experience of many students. But the law can only get interesting and easy to study if you concentrate on the whys rather than on the whats. Behind every drafted law, there is logic. Try to understand why the provision exists. This helps to increase analytical skills and to build a strong base.
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Paper-3: Cost and Management Accounting
It is always better to start and be done with the small and easy chapters first. The reason corresponds to the simple fact that all the small chapters collectively contribute to a huge weightage of marks.
Keep repeatedly practicing important questions from important chapters as it is imperative that you think less and produce more on the answer sheet at the time of the exam.
Maintain a correction journal to jot down your mistakes for future reference.
Maintain a formula book as costing and management accounting has numerous formulas which are to be memorized.
Focus more on practical questions than on theory as the relative weightage of marks is greater in the former one.
As per the latest notice by ICAI, Paper 4 will be partially subjective and partially objective in the ratio of 70:30.
Practice, practice, practice as many questions as you can to cover at least a significant percentage of the variety of questions and question banks available.
The indirect tax covers the GST Act. You should make it a habit to understand each and every provision as it is an easy area to score.
Direct tax, which covers the Income Tax Act, of 1961 must be studied diligently. You can concentrate more on relatively important chapters which include, but are not restricted to Basic Concepts, Residential Status, Salaries, and Income from House Property.
Profits and Gains from Business and Profession is a vast chapter that requires efficient allocation of time. Therefore, it is not advisable to keep this until the last minute.
Section numbers of important provisions must be memorized.
Few Important Points for Self Study
- Go through all the important points and make a note of the chapter wise
- Refer to Practice Manual, Revision Test Papers, Past Year Papers and try to complete all the relevant questions mentioned there
- In CA Inter, Time management is most important as students despite knowing the answers fall short of time to finish the papers. Hence it is advisable to practice questions in a time-bound format.
- Solve mock papers.
- Understand the weightage of marks and plan your time devotion topic-wise accordingly.
- Most Importantly...Start Studying..!!
Last Month before Exams:
- Firstly, Practice your Critical Topics Which are Important for exams too. It is advisable to not leave any topic for exams as each topic that comes in exams carries a weightage of 10-14%, which can’t be ignored
- A thorough revision of all the topics and preparation of notes for Exam Day Revision. Exam Day Revision is the most crucial part of CA Inter, as it is of utmost importance to revise or give a bird's eye view to almost all the topics one day before the exams.
- It is advisable to prepare one pager notes for each topic which is sufficient for you to refer to one day before exams instead of referring to bulky books on the exam day.
Important Points to note :
- Always write and practice.
- Learn Point Heading and write.
- Try for Mock Exams by ICAI and different faculties.
- Solve MCQ
- Use Mnemonics Technique to Memorise Headings
- Make sure to make notes & mark all your doubts while watching the lectures.
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