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Thursday, 5 June 2014

How to do Ipcc on just 15 days not a joke

( By Ankit Jain)
How to complete 1st Group of
IPCC in just 15 Days?
To most people, the title of this article would
not be digestible but according to expert's
experience, it is not only challenging, but it is
achievable. It is the formulation of strategy
for preparation which matters the most in an
examination, combined with focus,
determination and a strong will to succeed.
Here my intention is not trying to discourage
those students who efficiently utilise and had
worked many months for their studies but this
article is for those who, by any reason like
due to their college examination, marriage
occation, other social commitments, have not
been able to prepare well and have very less
time remaining for their examination.To those
students I say, don't give up! It is still
possible and achievable for you to pass your
exams.
Due to certain unfortunate circumstances and
bad choices, I could not study well before my
attempt held in May 11 and I got 189 in 1st
group & failed to clear it. Feeling discouraged
and demotivated, I spent the next few months
in despair and disappointment. All I could
think of was my failure. As a result, I wasn't
able to study again and wasted most of my
time before I knew it, there was just one
month left for my second attempt. I ignored
such attempt and gone out of India.
After coming to India I prepare for my May
12 attempt and appeared again for 1st group
only.Without waiting for result of my such
attempt I joined Coaching Class for both
group.My coaching was going good for both
group and mid while I got my result of May
12 attempt 183/400.Problem was in
aggreagate only.
I decided that this failure cycle must come to
an end. I began to rebuild my confidence and
faith in myself. I realised that it is very
important to refuse to let the fear of failure
take over my mind. I gathered all the courage
I could manage and decided that I CAN and
WILL clear both groups this time, no matter
what. Within One month, my confidence and
resolve to succeed was back.
Now, I was left with approx 19 days before
the first exam. I broke off all social contact
and took proper care of my health. I decided
that I will let nothing stop me this time, and
when you fully believe in yourself, nothing can
stop you from succeeding. Based on my
experience, I want to share my story and
suggest a study plan to those who are in a
similar situation as I was. I used the following
plan to prepare for my exams and it may
work for you too.
Note: This plan will work only if you have
taken classes for some subjects and you have
some basic idea about everything - if you
know absolutely nothing, no one can save you.
Create a schedule on paper for the next 15
days. Keep the last 2 days for revising
Accounts.
Buy a set of Solved Scanners (solved past year
question papers) and go through the pattern
of papers. CA exams can be quite
unpredictable, but still you can get some idea
about topics repeatedly asked in every attempt
I know it is advised to study every single topic
before the exams, but if you study the most
repeated topics first, you can go through the
remaining ones in the gaps between exams.
On the first day, mark the most-important
chapters from each subject and write them
down somewhere.
Now, you have 15 days and 4 subjects. Do not
let this discourage you. Strengthen your
determination and take a resolve that you can
do this. Believe in yourself and in your
capabilities. Each day, tell yourself that it is
possible for you. Eliminate all your
distractions and prepare yourself to study for
around 17-18 hours a day. You will need to
invest all of your free time into studying to be
able to achieve this.
First of all complete VAT and SERVICE TAX in
detail with Questions and practical sums from
Practice Manual
Now you have left with only 14 days net.
Divide all most important chapter of all four
subjects as under. MOST IMPORTANT
CHAPTERS OF COSTING IN 4 PARTS.
MOST IMPORTANT CHAPTERS OF FM IN 3
PARTS.
MOST IMPORTANT CHAPTERS OF A/C IN 5
PARTS.
ALL ACCOUNTING STANDARDS IN 2 PARTS.
MOST IMPORTANT CHAPTERS OF BUSINESS
LAW IN 3 PARTS.
MOST IMPORTANT CHAPTERS OF COMPANY
LAW IN 3 PARTS.
ENTIRE COMMUNICATION AND IMPORTANT
PART OF ETHICS IN 3 PARTS.
ENTIRE INCOME TAX IN 4 PARTS
COSTING & FM THEORY IN 1 PART.
Now Prepare in following way.
ON 2ND DAY COMPLETE 1/3 PART OF
BUSINESS LAW AND 1/4TH PART OF COSTING.
ON 3RD DAY COMPLETE 1/3 PART OF
BUSINESS LAW AND 1/4TH PART OF COSTING.
ON 4TH DAY COMPLETE 1/3 PART OF
BUSINESS LAW AND 1/4TH PART OF COSTING.
ON 5TH DAY COMPLETE 1/2 PART OF
ACCOUNTING STANDARD AND 1/4TH PART OF
COSTING.
ON 6TH DAY COMPLETE 1/2 PART OF
ACCOUNTING STANDARD AND 1/5TH PART OF
ACCOUNTING.
ON 7TH DAY COMPLETE 1/3 PART OF
COMPANY LAW AND 1/5TH PART OF
ACCOUNTING.
ON 8TH DAY COMPLETE 1/3 PART OF
COMPANY LAW AND 1/5TH PART OF
ACCOUNTING.
ON 9TH DAY COMPLETE 1/3 PART OF
COMPANY LAW AND 1/5TH PART OF
ACCOUNTING.
ON 10TH DAY REVISED COSTING AND FM
THEORY AND 1/5TH PART OF ACCOUNTING.
ON 11TH DAY 1/3RD OF ETHICS AND
COMMUNICATION AND 1/4TH OF TAXATION.
ON 12TH DAY 1/3RD OF ETHICS AND
COMMUNICATION AND 1/4TH OF TAXATION.
ON 13TH DAY 1/3RD OF ETHICS AND
COMMUNICATION AND 1/4TH OF TAXATION.
ON 14TH DAY 1/4 OF TAXATION AND 1/3 OF
FM.
ON 15TH DAY REMAINING PART 2/3 OF FM AS
FM COVERS CASH FLOW,FUND FLOW,RATIO
ANALYSIS WHICH MAY BE ASKED IN PAPER 1
ACCOUNTING......
Don't practice each question
on paper, but practice the
ones which you are not
confident about.
Don't forget to read the theory
as well side by side. Around 30
marks consist of theory in
each attempt.
When you get tired of the
practical questions, take a
break and read the theoretical
questions from Practice
Manual.
During the holidays between
exams, go through the
Practice Manual and read all
the important topics as well as
the chapters you had left out.
If you are left with more time,
revise your notes and go
through other study material
like Module.
If you take a decision to succeed no matter
what, you will be able to achieve this and
clear IPCC 1st Group. This plan sounds
extremely difficult to implement, but I speak
from personal experience that it is possible.
Do not give up, invest your time and energy
into hard work and believe in yourself. Let
nothing come in your way. You can do this!
All the Best


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