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CA Intermediate Group 2 Subjects

The CA Intermediate Group 2 Subjects involve following. Right beside the subjects mentioned is the marks each paper carries. 

Sr.No.	Subject	Marks
1.	Advanced Accounting	100
2.	Auditing and Assurance	100
3.	Enterprise Information System and Strategic Management	100
4.	Financial Management and Economics for Finance	100

Tips on how to study Advanced Accounting

Before starting the preparation of any subject you need to be aware of all the topics that are covered in that particular subject. Mentioned below are the topics that are included within Advanced Accounting.

1. Accounting Standards (AS – 7, 9, 14, 18, 19, 20, 24, 26, 29)
2. Application of Guidance Notes on specified accounting aspects.
3. Special aspects of company accounts (ESOP, buyback, Underwriting)
4. Re-organization of companies (Amalgamation, reconstruction and Liquidation)
5. Financial Reporting of Banking, Financial Services and Insurance (BFSI) (Insurance co, Banking Co, Non-Banking Co, Mutual Funds).
6. Valuation of Goodwill
7. Consolidated Financial Statements

After checking out the topic make note of the difficulty level. The topic that is easier for you to start with. All you need is to polish your knowledge regarding it. This will also help you cover the syllabus faster. 

Never forget to practice using old question papers as references. This is the best way of understanding the question paper pattern and also managing your time.

Tips on how to study for Auditing and Assurance

Auditing and Assurance is known to be one of the most challenging subjects in CA Intermediate Group 2. It is seen to be a hard-scoring subject and hence requires a proper preparation. Auditing is one of the essential foundations required to pursue Chartered Accountancy.

Given below is the list of topics included in Auditing and assurance. Check them first so you can familiarize yourself with each of them and start preparing for your exam.

1. Nature, Objective and Scope of Auditing.
2. Audit Strategy, Audit Planning and Audit Program.
3. Audit Documentation and Audit Evidence
4. Risk Assessment and Internal Control
5. Fraud and Responsibilities of the Auditor in this regard.
6. Audit in an Automated Environment.
7. Audit Sampling
8. Analytical Procedures.
9. Audit of Items of Financial Statements
10. The Company Audit
11. Audit Report
12. Audit Banks
13. Auditing of Different Types of Entities.

You might have heard that when it comes to the Audit paper you have to use bookish language while answering the questions. This is not true. You have to mention the required keywords but you can answer in your own words. The examiner should be able to gaze your understanding regarding the topic while he is assessing your paper.

Starting with an easy topic will help you cover the syllabus faster, increasing your scoring capability. Hence it is suggested that you do not waste time trying to decode hard subjects for yourself but rather start with something you are comfortable with.

Make sure you keep Company Audit as your main priority. It is scoring and you will get the hang of it faster. It has an average weightage of 30 marks of your paper.

Company Audit should be on the top priority.  This chapter is damn easy to read and retain and also very much scoring. It covers an average of 30 marks in your paper.

There are a few more topics that are important and are always better if you have prepared yourself for them. The following points will be your guide on areas you should cover to score higher marks.

• Special Audits related to clubs, NGOs, Partnership firms, Educational institutions, Hotels, Cinema Halls, hospitals, sole proprietors etc.
• Vouching and Verification of Cash, Depreciation, Tangible and Intangible Assets.
• Risk Assessment and Internal Control covering Audit Trail, Audit Risk.
• Preparation of Audit Report featuring with Audit techniques, Audit Programme, Audit Sampling, Continuous Audit, Letter of Engagement, Management Representation.
• Inherent Limitations of Audit, Operational Audit, Detection of Fraud and Errors.
• Audit Documentation and Audit Evidence covering SA 220 and 230.

When it comes to answering the Audit paper, your answer presentation matters. Make sure that you write the answer precisely in points and use the required keywords. It will be great if you can underline the keywords which would give clarity to the examiner and increase your chances of scoring.

Make sure you don’t divot from the question and end your answer with a proper conclusion.

Ensure you are giving sufficient time to practice rom various question papers, may it be from practice manuals, question bank or old question papers.

Tips on how to study for Enterprise Information Systems and Strategic Management

Enterprise Information Systems and Strategic Management is divided into two sections- 

(i) Information Technology (IT)

(ii) Strategic Management (SM)

Out of these 2 SM is considered to be easier and much more scoring when compared to IT. 

Following is the list of topics covered under IT-

1. Automated Business Process.
2. Financial and Accounting Systems.
3. Information system and its components.
4. E-Commerce, M-Commerce and Emerging Technologies.
5. Core Banking Systems.

When it comes to Enterprise Information Systems the flowcharts and decision tables can help you score higher. There is one question that carries 8 marks, and it is mostly seen in papers.

The reason why this subject seems a bit difficult for students is due to lack of practice. Such subjects require daily revision to master them, only then will you see visible changes in your score. While preparing you to need to properly understand is topic or it will be of no use to you while facing the exam.

Do not make the mistake of wasting time on only 1 topic. If it is taking time to understand go for things that are easier. All the queries you have regarding the previous topic need to be communicated with your teacher which will be the fastest way of completing the topic.

Having a summary of all chapters in a chart form will help you a lot while revising. Before an exam referring to the entire book may cause a sense of panic and hence it is preferable that you study from your summarized notes or charts.

Tips on How To Study for Financial Management and Economics for Finance

Financial Management and Economics for Finance are divided into 2 parts, namely-

(i) Financial Management- covers 60 marks 

(ii) Economics for Finance- covers 40 marks

Financial Management was earlier a part of 1st group now has become a part of the second group along with Economics for Finance.

Given below is the list of topics that are included in Financial Management:

1. Financial Management and Financial Analysis (Introduction and Analysis through Ratios)
2. Financing Decisions (Sources of Finance, Leasing, Cost of Capital, Capital Structure, Leverages).
3. Capital Investment and Dividend Decisions (Capital Investment, Adjustment of risk and Uncertainty in capital budgeting decision, dividend decisions)
4. Management of Working Capital

While preparing for this subject you have to start with basic theory and formulas of chapters to help you solve the questions easily.

Cash Flow and Fund Flow are the most important topic that cannot be overlooked.  Take sufficient time to clear your concept and revise all required formulae and concepts.

Alternate your learning pattern. If you are starting with a bigger chapter, choose a short chapter after completing it. It will give you a sense of accomplishment and hence will keep you going.

Make sure you are ready with the practical part as well. Revise all the chapters with the help of charts, notes and formulae sheet that you might have made throughout the learning process.

Given below are the list of topics covered by Economics and Finance-

1. Determination of National Income
2. Public Finance
3. The Money Market
4. International Trade

If you have put sufficient time into understanding the topics, scoring in this subject will be a piece of cake. You can cover each topic according to your convenience. But make sure that you check the CA Intermediate Group 2 exam dates and plan your studies accordingly.

Approach your teachers and guides whenever you feel necessary. Don’t hesitate to get answers to your question. 

Conclusion

To ace in CA intermediate Group 2 exam you will have to put in sufficient time and effort. Though this article can guide you on the path of covering your syllabus, it’s you who has to start it.