I have previously discussed the subjects of group 1 of CA inter. This article will provide you an overview of the subjects of group 2 of CA inter.
Overview of CA Inter – Group 2
Group 2 is considered to be the tricky one amongst the two groups of CA inter. The reason for the same is that the weightage is more on theory subjects. Most of us tend to develop expertise in the practical subjects, as we put in more hard work and practice into them. On the other hand, we tend to ignore the theory subjects. However, this mistake can cost you 6 months, or a whole attempt in your CA inter. Let’s analysis the subjects in group 2 on CA inter.
Paper 5 – Advanced Accounts
Advanced accounts is a high scoring paper in group 2. Good preparation is very important for this subject as it can save your whole group. It takes away from your shoulders a huge burden of you do well in this paper. Moreover, the topics are not very difficult. Esop, buyback of shares, underwriting of shares, mutual funds, Non-banking financial companies and liquidation of companies are topics which require not much time or effort. Amalgamation of companies, Reconstruction of companies and consolidated financial statements are topics which require much practice and attention since they carry 20 marks each in the paper. The remaining topics are of average difficulty. Accounting standards are very important, and carry 25 marks in the paper. The paper has one compulsory question of 20 marks, which is from accounting standards. The remaining questions carry 20 marks each, out of the 5 questions, students have to attend 4.
Paper 6 – Auditing and Assurance
This is the paper most students fear. Audit is purely a theory subject. It is technical and requires a lot of precision in writing. One cannot write general terms or ideas. It is important to answer to what is asked and make use of the language of auditing. My sir once used this example, imagine you order a cheese burst, heavily topped pizza, and all you get is a plain pizza base. The thought itself makes you angry right? That’s exactly what happens to the ICAI. While they ask you a crisp answer, you give them lose and deformed answer. They become furious as well, and their fury costs you another attempt. So never commit the blunder of ignoring this subject. An audit requires repeated reading and revisions on order for you to get a hold on the language. Also, you need to practice as many questions as possible. The paper of May 2018 was rather simple, not very detailed or tricky. However, the questions did require deep understanding and analysis.
Paper 7 – Enterprise Information Systems and Strategic Management
No,w this is the paper that most students hate. Yes, hate. this is something we all don’t really connect with, especially eis. EIS is nothing but information technology. This subject gets into the details of the working if computer systems, software, their functioning, risks, controls etc. It requires lots of reading and repeated revision for retention in your mind. Strategic management, on the other hand, is slightly better, as you can relate to the subject. The best way to secure marks in this paper is to read on a consistent basis and practice the manner of writing an answer. The paper of May 2018 was average in difficulty.
Paper 8 – Financial Management and Economics
Now this paper is a new newly introduced paper in the curriculum. Financial management was earlier clubbed with Costing and carried 40 marks. It is now for 60 marks, combined with Economics for 40 marks. Financial management is easier and requires lesser analysis compared to other subjects. The concept of Capital budgeting, once understood, aids almost half the syllabus of this subject. Management of working capital is another big chapter but is very logical and interesting. All other chapters are not very complex and can be handled with good practice. Economics, on the other hand, is strictly a theoretical subject, though it does contain some simple sums. The syllabus of economics is vast for 40 marks, and also require a lot of understanding. Chapters 4 and 1 require special attention. In the exam of May 2018, this paper was the tougher paper of the group. Economics was set slightly easier than financial management.
What to refer?
There are various people who suggest the reference of different books and materials. However, reference to the ICAI material is best. For subjects like advanced accounts and financial management, one has to work out both the study material and the coaching class material thoroughly. For Enterprise Information Systems and Strategic Management, strictly refer to the ICAI module only. For audit, refer the theory from your coaching class material, but make sure to refer questions from the ICAI module as well.
Group 2 of CA inter requires good strategy and planning to clear. As I have mentioned in my other articles as well, panic is the most terrible thing that can happen. So hold your mind stable. Different people have different strategies, however, it’s good to attempt both groups together. But again, do only what you are comfortable with. These are some of the things I could share with you, hope it helps you clear your exams.