Hi Friends! This May 2011 I have written IPCC. This time I didn't prefer coaching. I thought let me give a trial how much I can prepare by myself. So I prepared at home and managed to write both the groups.
Coming to preparation I found that one should follow these techniques below :
Accounting : As I saw Accounting-I, II both need serious practice. One can get all the theoretical knowledge by self study. But besides that one need to have quick practice. The tips and points should be grasped. Min. time should be spared for each problem in the examination. Because If you keep thinking and waste time on simple problems, you wont have enough time to solve logical problems.
Business Laws Ethics & Communications: Business Laws Ethics & communications is a theoretical subject and one needs to memorize the points but not merely by- hearting. Of course the Law part need to be memorized with the Sections but we have already studied Contract Act and a few more topics in Law in CPT preparation. While studying these subjects immense concentration is necessary to understand the points in Ethics and Communication.
Taxation: Taxation is one of the subjects that is revised frequently depending upon the Budget bill passed and therefore the rates and slabs keep changing.We should keep our-self updated with the changes if we are writing exams because of failure in attempts. Taxation also needs quick practice and above all one should memorize the slabs and rates very confidently. Confusion in the slabs, rates will make you lose marks though you attempt the problem
Cost Accounting & Financial Management: Cost accounting and financial management is also of problematic type. More than accounting it needs concentration. It has more logic to be understood in solving problems.
Auditing & Assurance: This subject is related to memorizing the standards and important features of auditing.This is also a theoretical subjects and one needs to remember the important points.
Information Technology & Strategic Management : This is also a theoretical subject which is not so difficult to understand. reading it twice anyone can understand the subject.
Coming to and exam mode and presentation I found the following:-
Accounting I, II : Accounting syllabus has a typical 1 or 2 or 3 kinds of problems in each chapter. If you are thorough with theoretical part you can easily solve problems. But as I told practice is important.While presenting in the examination try to present the problem in tables and neatly. In exam though you don't get an answer try to solve the problem in the method you know. You will be awarded marks for steps.
Business Law Ethics & Communication: This subject can be prepared from the additional material given by the board. Also the revision material,old test papers, question banks are helpful. All these can be downloaded from the IPCC material page.
Taxation: This subject has a no. of problems for each chapter depending on topic. As application of rates and slabs is important you can try working out problems for yourself with different rates and slabs. Solving previous questions will be helpful.
Cost Accounting & Financial Management: This subject needs to be understood thoroughly and the logic should be understood. Each step is related with other step. So though the problems are found in bits, still they are connected to each other. in exam this paper also has to be presented properly in neat tables if required. Messing up sum will be of no use. Though you are not confident of answer be confident about the method and try to present on the paper what you know with required steps.
Auditing & Assurance: This subjects can once be read from the text books of board and then preparation from board material will be more than enough. also prepare from revision papers etc.
Information Technology & Strategic Management: This is a theory subject and it requires thorough revision and memorizing points.
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