Preparation Tips for CA Inter Group 2 Exams Nov 2023

CA Intermediate is the second step towards becoming a Chartered Accountant, after passing the CA Foundation test. After passing the CA Foundation test, aspirants are entitled to take the CA Inter exam, which is separated into two sections. Exams for these two groups are currently held in May and November.

Aspirants have 8 months after the CA foundation to prepare for the CA Inter Group 2 exam. Aspirants for CA inter group 2 can take both exams simultaneously or separately, depending on their preference and preparedness.

CA Intermediate is an advanced-level exam, as opposed to CA Foundation, which is a basic-level exam for students who have completed class 12 with commerce as their major. As a result, CA Intermediate necessitates a well-structured plan and preparation.

The following table has all the fundamentals you should know about the CA Intermediate examination:

CA Intermediate 2023 is separated into two classes, as previously stated. Passing every group in the CA inter needs 40% in each topic and 50% overall in the CA intermediate group.

CA Intermediate has 8 subjects, but CA Foundation has only 4, indicating that CA Intermediate is a step above. The table below lists the CA inter subjects of each group in the CA Intermediate test, as well as the marks assigned to each subject. Furthermore, it mentions the division of subjective and MCQ marks.

The following table shows the CA intermediate exam pattern for better preparation of the aspirants:

An aspirant for the CA Intermediate subjects should first investigate the curriculum to gain a better knowledge of what to focus on more and what to prioritize. The CA Inter subjects are further broken into themes, hence the topics covered in each subject of both groups of the CA intermediate exam are as follows.

CA Inter: Topics Covered in Advanced Accounting

Accounting Principles (AS 7, 9, 14, 18, 19, 20, 24, 26, 29)

Guidance Notes on specific accounting aspects are used.

Company account specialties (ESOP, buyback, underwriting)

Company reorganization (amalgamation, rebuilding, and liquidation)

Banking, Financial Services, and Insurance (BFSI) Financial Reporting (Insurance Company, Banking Company, Non-Banking Company, Mutual Funds).

Consolidated Financial Statements Goodwill Valuation

CA Inter: Topics covered in Auditing & Assurance

Auditing’s nature, objective, and scope.

Audit Strategy, Audit Planning, and Audit Programme are the three components of an audit.

Audit Evidence and Audit Documentation

Internal Control and Risk Assessment

Fraud and the Auditor’s Responsibilities.

Auditing in an Automated Setting.

Analytical Procedures for Sampling.

Audit of Financial Statement Items

The Corporation Audit Banks Audit Audit Report

Auditing of many types of entities.

CA Inter: Topics covered in IT & SM

Business Process Automation.

Accounting and financial systems.

The components of an information system.

E-commerce, mobile commerce, and emerging technologies are all examples of this.

Banking Core Systems.

CA Inter: Topics covered in Financial Management

Financial Management and Financial Analysis (Introduction and Ratio Analysis)

Financing Decisions (Financing Sources, Leasing, Capital Cost, Capital Structure, Leverages).

Capital Investing and Dividend Decisions (Capital Investing, Risk and Uncertainty Adjustment in Capital Budgeting Decisions, Dividend Decisions)

Managing Working Capital

CA Inter: Topics covered in Economics for Finance

Calculation of National Income Public Finance

International Trade on the Money Market

Get to know the syllabus

CA Intermediate candidates sitting the Group 2 test should familiarize themselves with the subject before embarking on the game of scores. The more a candidate understands about the CA Inter syllabus, the better their understanding of the CA Inter expected score. Learn about the topics and receive a comprehensive overview of the CA Inter syllabus.

Plan the schedule

A proper preparation programme is essential for CA Inter group 2 preparation. When an aspirant is familiar with the syllabus, he or she will understand how much one topic or subject should be prioritized, making it easier to create a schedule. A schedule will also ensure that the aspirant devotes adequate time to the topics that demand the most attention, resulting in a high CA inter group 2 score.

Time Management

A CA intermediate candidate must understand the value of time. Aspirants must stick to a routine and a timetable in order to stay on track. Managing time is one of the most important steps towards a successful CA Intermediate exam score. Managing tasks according to time would help an aspirant manage the time allotted for the final test, resulting in a successful completion of the CA inter exam. An aspirant is supposed to devote 8 to 10 hours of their day to preparation; however, quality over quantity is more crucial, and even 6 hours of great preparation can help any aspirant ace the exam.

Make notes

Making notes is a reward for a CA Intermediate aspirant who is studying. When one learns something through diverse study resources, one tends to collect information from various sources, and summarizing it is essential. It is necessary to take notes in order to summarize the information gathered. When the aspirant has completed the entire syllabus, they can return to the notes to re-remember what they have previously learnt, thus cementing the note in their long-term memory.

Revise

CA Intermediate aspirants who are in the process of learning the syllabus and selecting new topics to read about on a daily basis should also ensure that they do not forget what they have previously done, so it is recommended that they set aside time in their schedule to revise the learned parts of the CA Inter syllabus. It will aid in the aspirant’s retention of the themes for a longer period of time.

PYQ and Mock tests

CA Intermediate test preparation should be done in every way imaginable. It necessitates regular revision, as well as becoming acquainted with the kind of questions asked. As a result, in order to ace the final stage, namely the execution of the examination, one must prepare using mock exams and previous year questions.

Relax

CA exam candidates do not need to exhaust their bodies and minds in order to achieve a high score. Relaxation and leisure time are required to do well in any examination. Exhausting their bodies and brains will not work; nevertheless, a little relaxation can go a long way.

Make a not To-Do list

A few things can lead to an aspirant’s demise as a student or as a human; the three things an aspirant should not do are as follows.

Overburden

Overconfidence

Overthink

As we all know, an aspirant is given months after passing the CA foundation exam to prepare for the CA intermediate exam. The following is a month-by-month method for preparing for the CA intermediate examination.

CA Intermediate 1st month strategy

Examine the syllabus and the topics covered in each chapter. Create a decent routine here and become used to it while working through the theoretical parts of the chapters you’re beginning. Plan your guiding needs for this month, i.e., whether you require coaching or if you want to self-study with resources accessible in the market or online.

CA Intermediate 2nd month strategy

Read as much as you can and start taking short notes on the sources of information, whether they are from your coaching or self-discovered resources. Get a grasp of the theoretical sections of the course to gain a thorough knowledge.

CA Intermediate 3rd month strategy

Get your thoughts focused on your objective and devote a little more time to preparation. Meanwhile, divide the sections where you need to focus more practically or conceptually. Begin solving issues and using what you’ve learnt.

CA Intermediate 4th month strategy

The last four months of your preparation necessitate sincerity; goal orientation is the only thing you can expect from yourself at this time. Solve more and more difficulties and generate doubts, then solve them in order to generate more and clear them altogether.

CA Intermediate 5th months strategy

Try to perfect the portions where you are already proficient. obtain the most out of yourself and read every portion of that topic, obtain more and more doubts from that issue where you nail to solve, and improve your problem-solving skills. Try including PYQs and simulated tests into your study materials.

CA Intermediate 6th months strategy

This is the month when many CA Inter candidates give up, but you should not. Try not to start with a completely new topic because it will simply increase your concern about starting something completely new in such a short period of time. Instead, focus on the parts that have already been completed or are near completion. Maintain your cool and avoid overexertion.

CA Intermediate last 7th month strategy

Revise, solve, and unwind. These are your only three criteria during the final month of CA Inter prep. Make an effort to eat, sleep, and work on time. Make a schedule for your personal life to avoid problems on the last day. Believe in yourself and go with the flow

The following are the reasons why you should plan ahead of time for CA Intermediate and why a post-preparation strategy is essential.

• Confidence

Prior CA Inter preparedness builds confidence; when one is prepared for what is to come, they manage it better. Aspirants must be informed of what is coming their way and how they will deal with it. The better the preparation, the better the confidence.

• Time management

CA Inter preparation invariably results in time management abilities in any aspirant. When aspirants complete questions and mock tests, they prefer to manage and monitor how much time it takes to answer each question. With time, the aspirant’s problem-solving skills improve, and he or she solves problems faster, resulting in greater time management skills on the big day.

• Guidance for the preparation

CA Inter preparation also entails deciding how the candidate would be guided. The aspirant selects where they want to learn, what sources they like, and what coaching they want to participate in. As a result, aspirants receive instruction and a helping hand to lead them down the right road.

• You know what’s next

CA Inter preparation enables the applicant to know what to do next. CA Inter Preparation assists them in deciding the next step because the applicant is familiar with the CA Inter syllabus and knows what to focus on next without wasting any time.

CA Inter preparation necessitates undivided focus and determination. CA Inter is a level advanced examination that is not impossible to pass; nonetheless, in order to earn a decent mark, a student must first coordinate their schedules and develop tactics.