Hlo friends. After achieving AIMR 1 IN CA- IPCC NOVEMBER 2015 , I have come up with some very useful tips for IPCC students. Many of my friends says that they have given 5-6 attempts and still their IPCC is not cleared, while many say that each time the aggregate is short. So frnz in this blog i have tried to address all those issues and come up with some useful tips......
STEP 1: GET THE CONCEPT
In this stage the student has to get the concept and also alongside make a small note of that concept in a separate small copy. In every subject ,whether theory or practical understanding the concept and making notes is equally important. So here is an example of both practical and theory subjects on how can you make effective notes.
Practical subject:
For eg :if u are doing LIQUIDATORS STATEMENT , Then u must know the
- format of this statement
- contents of the debit and credit side
- sequence in which the items appear in credit sides
- calculation of liquidator's remuneration
So while making the notes u can make a sample format of liquidator's statement, write the contents in Dr. and Cr. Side. Now write down the ways of calculating liquidators remuneration. Also write THINGS TO REMEMBER. So once u understand this much u can solve most of the general questions and for the typical questions u have to make a separate NOTES OF TYPICAL POINTS:
Theory subject:
Now lets take Audit. While making the summary of let's say CHAPTER 4 ( INTERNAL CONTROL), So first of all go through the first reading from your ICAI'S STUDY MATERIAL, and in this reading highlight/underline the important points. Now while making notes, u write those important points in a copy in ur own language, ur own way!!! So try to make it ATTRACTIVE By using arrows, symbols, designs so that it also helps in remembering those points. DON'T COPY SAME AS IN STUDY MATERIAL, If u do so, there is no meaning of making notes.
So if u make such notes, then a chapter which is 30 pages in study material will be covered in ur notes in 8-10 pages. So it will help for quicker and more revisions.
STEP 2: HOW TO PRACTICE
For practical subject in ur first and second revision you have to go through all the question in the practice manual and the study material i.e you have to do every question in your practice copy. And while doing so in side of question make chit and write about the typical points in that illustrations. Make sure the chit covers all the important points of that question.
So once u have done this for all the illustrations in the 3rd and afterwards revision, u do not need to do the illustrations just read the chit and practice only few. So this will also help in quick revision.
So basically the entire thing lies on making summaries of the entire concept so that the whole syllabus can be revised quickly.
Most important tip: While making the notes always remember that the day before the exam you have to cover the entire subject in JUST ONE DAY. So make sure u cover each and every chapter in that single day ! So ur notes have to cover all the aspect + it also has to be precise so as to be able to cover entire chapter in a single day.
In IPCC I would suggest not to go more for more reference books and to focus more on the ICAI'S MATERIAL. Don't leave any question of the study material and practice manual. After entirely completing the study material and practice manual u can go for the reference books for further practice.
Qn. What to do if the aggregate is short??
So a solution to this is that in any group make any TWO subject very strong , the subjects which u like ( whether practical or theory) such that u get exemption in those subjects and for the rest subject read well so as to obtain at least 40+.
So in grp I u can make accounts and cost fm very strong and try for exemption, and for law and tax read well.
So being a rank holder I will suggest everyone to read with a determination of becoming a rank holder.
Always remember:
RANK HOLDERS ARE NOT THE ONES WHO ARE INTELLIGENT BUT THE ONE WHO COMMIT EVERYTHING TO THEIR RANK...!!!
So i hope this blog will be useful to u all. I hope u all pass out your upcoming IPCC exams with flying colours.
Do send feedback and comments on ptulshyan77@gmail.com
