CA IPCC : Accounting

Tips to Pass CA Inter Group 2

Chartered Accountancy commonly known as CA as regarded as one of the highest paying jobs in the country. It is because the kind of dedication and time goes in preparing for the entire course is mind boggling. Tremendous amount of commitment goes into it for becoming a CA.

In this blog, learn everything about CA Inter. 

How to pass the First Attempt CA IPCC Group 2 Examination?

This is a question that every CA student wants to be answered. The student who has just finished his IPCC Group 1 and is looking forward to becoming a Chartered Accountant soon. Some may be concerned about their efforts, but most would have been used to the nuances and complexities involved in preparing for CA exams. Students must make a two-way approach to any form of success; non-academic or academic. Students should bear in mind the formulas, namely “Patience, Perseverance and Determination,” as the means of the first non-academic method.

Approach- nonacademic

  • Attitude:

Strengthen and sharpen your determination; “at the first attempt, I will clear my Group 2.” “Chartered Accountant, I’ll be one.” Positive thinking often results in positive outcomes. CA IPCC Group 2 Course can definitely help you with that.

  • Goal Setting:

Set your aim, at the first opportunity to clear the exam and concentrate all your physical and mental activities on achieving the goal. ‘Come whatever may, at the first chance, I’ll certainly pass Group 2’. Always have this type of self-confidence.

  • Removal of misunderstandings about CA Exams:

It is not that the CA exams are passed only by the super brilliant. You have to set your mind up and have the right attitude. The CA analysis may be complicated but not so difficult to be impossible. Your ability will come forward to assist you until your mind is released from fear and misunderstandings.

  • Studies Scheduled:

For your research, make a plan. To build confidence, find out the total number of days left for your next test to start. To prepare for group 2, you will have three subjects. Instead of researching all the subjects every day, assign a reasonable number of days for each subject. Map out a day for your research hours. You can find CA IPCC Group 2 Video Lectures helpful for studies. 

  • Preparing carefully:

To this end, the ICAI research materials, a reference book for some good writers to gain a thorough knowledge of the subject and can be systematically studied. You should also seek your seniors’ advice.

  • Revision:

Make a weekly overhaul of everything you read throughout the week.

  • Strategic Analysis:

Research the inter-related subjects along with Advanced Accountancy. For example, Accountancy together with Corporate Law or Income Tax.

  • Scribbles:

Keep the habits of the essential aspects of your theoretical studies scribbling down? Keep away from the phobia of research and keep the mind free from nausea, anxiety and nervousness. Avoid discussion with friends after the paper is over. Otherwise, your mind will be distracted when planning your next paper.

  • Academic methodology and planning:

CA Requires group 2 Integrated Professional Competence Course (IPCC)

Paper 5: Advanced Accounting

Advanced accounting covers AS, Insurance and Banking Company Final Reports, Branch or Departmental Accounts and Relationship Account or Amalgamation Advanced Issues. In various cases, make your conceptions reliable and clearly understand the different applications. Solve examples of Accounting Principles for the research materials and instruction manual. Draw out the banking, insurance and energy firms in the right format.

Paper 6: Auditing and assurance

Introduction of audit, the basic definition of audit, business audit and CARO related requirements include auditing and assurance. Make repeated revisions to audit principles and concentrate on audit, to vouch and verification criteria. Refer to large responses and make use of practical information.

Paper 7: Information Technology and Strategic management

Information Technology & Strategic Management blends simple examples with IT principles. Memorize the presentation of technical terms and practice point wise. Make periodic revisions.

FAQs

Q1. Will more attempts affect potential work opportunities?

Answer: Yes, the number of trials in some profiles that strictly specify the number of trials in their profiles is significant. In contrast with CA IPCC. However, the number of CA final attempts is higher. Big businesses typically concentrate on the number of CA final attempts.

Q2. In only last month’s preparations, how will students pass the CA IPCC group 2 exam?

Answer: Candidates should spend at least 12-13 hours planning for the last month to clear up CA IPCC Group 2 only in the last month’s preparations. The candidate’s training should be on point. And it is also recommended to remain optimistic for candidates.

Q3. Is Group 2 tolerable to IPCC relative to Group 1?

Answer: Yes, IPCC group 2 is more challenging compared with IPCC group 1.

Q4. Is CA IPCC for applicant’s compulsory?

Response: Yes, for candidates, CA IPCC is needed. The CA IPCC is the 2nd level of the CA, and before applying for a CA final exam, each candidate must clear their CA IPCC tests.

Types of Roles one gets after Chartered Accountant Course & Pay Scale:

  • Auditor: Auditors are professionals who are required to examine the finances of the companies in order to check their accounts. Most of the companies prefer to appoint internal auditors.

    Pay Scale: The initial salary is around 3.5 Lakhs – 4 Lakhs and can go up to 14 – 15 Lakhs per annum. 
  • Accounts Clerk: An accounts clerk is a professional who has the responsibility to record a specific type of financial transactions. The primary focus of the accounts clerk is on the following:
    – Billing
    – Payroll
    – Accounts receivable
    – Accounts payable 

Pay Scale: The initial salary is around 1.5 Lakhs – 2 Lakhs and can go up to 5 -6 Lakhs per annum and senior level.

  • Business services accountant: The core responsibility of a business service accountant to provide tax and business services. The other duties include:

    – Generating financial statements
    – Preparation of the tax returns
    – Guidance on the financial strategies
    – keeping track of the depreciating assets

Pay Scale: The initial salary is around 1.5 Lakhs – 2 Lakhs and can go up to 5 -6 Lakhs per annum and senior level

  • Chief Financial Officer: A CFO is a senior level professional who is responsible for the financial success of the company.

    Pay Scale: The initial salary is around 1.5 Lakhs – 2 Lakhs and can go up to 5 -6 Lakhs per annum and senior level
  • Cost Accountants: The core responsibility of the cost accountant is to analyze the cost of materials, products and processes. These professionals have the responsibility to advise the management about the effective options to streamline the cost.

    Pay Scale: The initial salary is around 1.5 Lakhs – 2 Lakhs and can go up to 5 -6 Lakhs per annum and senior level.
  • Financial Controller: The primary responsibility of the financial controller is to work along with the management teams and play a role in overall running of the business.

    Pay Scale: The initial salary is around 2 Lakhs – 2.5 Lakhs and can go up to 6 Lakhs per annum and senior level

Top Recruiting firms for Chartered Accountant:

  • Indian Oil
  • KPMG
  • EY
  • Deloitte
  • PwC
  • SS Kothari Mehta & Co.
  • Bhatia and Bhatia chartered accountants 
  • Sri Guru Kripa
  • Real-time Taxsutra services
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