Thursday, 9 July 2015

How to Prepare for CA IPCC in 4 Months?

Preparing for clearing the CA IPCC exams in 4 months if you are already a graduate in commerce is not too difficult. As a commerce graduate, you can prepare by brushing up on all the topics and reading the Practice Manuals cover to cover, following it with the RTP's and Suggested Answers.

However, if you have only passed your CPT and do not have any preliminary knowledge of the subjects like Taxation, Cost Accounting and Financial Management, it will take incessant effort day and night to first familiarize yourself with the basics and then direct your efforts towards tackling exam type questions. Therefore, for a person with a blank slate, I would suggest at least 6 months of preparation.

But because you have asked, I would suggest the following:

First Month:
- Take the 3 subjects, all of the 1st group: Accounts, Taxation and Law.
- Divide your day into 3 study slots: 7 am to 12 noon, 1 pm to 5 pm, 6 pm to 11 pm
- Study each of these subjects during the day, each in one of the 3 slots.
- Try to finish reading the Study Material of these 3 subjects in the first month and make notes simultaneously for revision.

Second Month:
- Take 4 subjects: Costing FM, Auditing, Advanced Accounts and ITSM
- Divide your day into 4 study slots: 7 am to 11 am, 11 am to 2 pm, 3 pm to 6 pm, 7 pm to 11 pm
- Prepare the practical subjects in the 2 four hour slots and the two theory subjects in the 2 three hour slots.

Third Month:
- Use the first 15 days to revise all subjects. This will primarily include brushing up on subjects prepared in the first month.
- In the next 16 days, finish the Practice Manuals for 4 practical subjects, spending not more than 4 days on each subject.

Fourth Month:
- Finish the Practice Manuals of the theory subjects in not more than 12 days.
- Plan the remaining days as per your preparation.
- Revise! Revise! Revise! 

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