Preparation Strategy for CA Inter Group 2 Nov 23 Exams

Planning to appear for CA Inter Group 2 Exams? Need not worry, we have got you a Study Plan to Crack CA Inter Exam.

CA Intermediate Group 2 Subjects:

There are 4 subjects in this group.

Paper-5: Advanced Accounting (100 Marks)
Paper-6: Auditing and Assurance (100 Marks)
Paper-7: Enterprise Information Systems & Strategic Management (100 Marks)

• Part I: Enterprise Information System(50 Marks)
• Part II: Strategic Management (50 Marks)

Paper-8: Financial Management and Economics for finance(100)

• Part I: Financial Management(60 marks)
• Part II: Economics of Finance(40 marks)

In Group 2, Advanced Accounts & FM-ECO are Practical Subjects and Audit & EIS-SM are Theory Subjects.

*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.

In Audit & EIS-SM, 30% of questions are MCQs (objective) based and 70% are Subjective based.

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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Paper-5: Advanced Accounting

• The main focus for this paper must be on Accounting Standards as it is an easy area to score at as they will cover a minimum of 20 marks of the paper.

• Important questions must be practiced frequently and repeatedly.

• Maintain a study journal to note down:

• Important concepts
• Important questions
• Easy to access notes
• Important formulas

• There must be at least one question from the Buy-Back, Underwriting, or ESOP carrying 8 marks or two questions of 4 marks each and are chapters that are generally easy to prepare for.

• Company accounts carry an average of 30-35 marks. Practice can make you perfect at it as it’s generally confined to sticking to formats.

• Partnership accounts are a large portion of the syllabus and hence, you must allocate time towards it wisely, efficiently, and keep in check your priorities.

Paper-6: Auditing and Assurance

• As per the latest notice by ICAI, Paper 6 will be partially subjective and partially objective in the ratio of 70:30.

• Auditing and Assurance is one paper that is tedious to score. Hence, the only path to success is to read and understand each and every provision in order to be able to reproduce it in technical writing.

• While studying, note down and highlight each keyword and repeatedly revise those keywords. Your presentation or language proficiency won’t matter unless such key terms are included in your answer script.

• Standards on Auditing should be one area of focus as it covers an average of 15-20 marks and is easy to interpret and learn.

• Company Audit should be the next priority for 3 reasons: 

• It is very easy and very interesting to learn

• It covers an average of 30 marks of the question paper

• You have already covered it substantially in Paper-2: Corporate and other Laws 

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Paper-7: Enterprise Information Systems and Strategic Management 

• As per the latest notice by ICAI, Paper 6 will be partially subjective and partially objective in the ratio of 70:30.

• This subject is equally divided into two sections one is Enterprise Information System (EIS) and the other one is Strategic Management (SM). SM is considered scoring and easy while EIS is difficult to learn and retain.

• In Enterprise Information systems most scored and the easiest topic is Flowchart and Decision Table (covers an average of 8 marks).

• Make a summary of the chapters. Chart format is preferable because at the exam time revision of the entire course is not possible from the book. So, be ready with the summary notes.

• Lack of revision is a key issue faced by EIS. Hence, make it a habit to revise daily in order to improve retention skills.

• Your language proficiency matters a lot in EIS and SM.

• Write and practice answers instead of merely reading them. This helps in improving your vocabulary which will act as a huge advantage for your answer script. 

Paper-8: Financial Management and Economics for Finance 

• The subject is divided into two sections one is Financial Management and another one is Economics for Finance. Financial Management covers the major part consisting of 60 marks and Economics for Finance consists of 40 marks.

• Start from the basic theory and formulas of the chapters so that you can easily solve the difficult-level questions.

• 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. Eg: Leverage, Ratios, etc

• Economics for Finance is basic, simple, and easy to understand. Reading it thoroughly and understanding concepts will definitely fetch sufficient marks. 

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..!!

CA Inter Resources by ICAI - Mock Test Papers (MTPs) || Revision Test Papers (RTPs)

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 page 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.

For CA Inter Free Important Resources by ICAI, Click Here.

Moreover, You can get in touch with our expert, Miss Abhilasha Sharma or Mr.  Abhishek Bajaj (Mobile – 9051753757) exclusively associated with Zeroinfy.in

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