Wednesday, February 16, 2011

How To Pass IPCC (Both Group) In 60 Days (By Student)


I have passed both groups of my November 2010 IPCE in my first attempt.

I studied for a period of 60 days in a systematic way and managed to cover all 7 subjects in a comprehensive manner. In fact I was too lazy and stubborn to study for more time than that. Actually I believe that laziness is an underestimated superpower with which you can achieve your goals in the easiest and the shortest possible manner.

All I believe that in the study period you should keep yourself happy, motivated, and full of enthusiasm of getting to learn something new everyday and not get bogged by the sheer extent of this voluminous IPCC. And it is absolutely okay if you ,once in a while, daydream about passing the exams with flying colors. Cause everything takes place twice, and the first place is inside your head . To do something ,you first have to think about doing it.

I opted for self study for I frankly believe that spoon feeding done by the coaching classes diminish our ability to analyse, interpret, and most importantly think in an intellectual way.(It is like to constantly allow someone else bombard our brain with their interpretation of the ca topics and in the process killing our creativity and imagination).

My study plan was to study for a minimum of 10 hours from day one.(I know it is much more easy to type this than to actually do it). I also managed to watch 2 episode of 'friends' and 'two and a half men' each everyday.(It may sound lame but this is my way of rewarding myself for 5 two hour study session everyday).Also in the morning, I went for a walk for 15 minutes daily to some fresh O2.And it is very very important to get atleast 7-8 hours of sleep per day.

My schedule was as follows:

A/c = 9days*10hrs=90hrs

Costing=6days*10hrs=60hrs

FM=6days*10hrs=60hrs

Income Tax=10days*10 hrs=100hrs

ST,VAT=2days*10hrs=20hrs

Adv a/c=9days*10hrs=90hrs

Law=7days*10hrs=70hrs

Audit=6days*10hrs=60hrs

IT=3days*10hrs=30 hrs

SM=2days*10hrs=20hrs

You can study these subjects in any order. Preferably study the subject of the first exam  in the end. I am not saying that this is a foolproof schedule but all I know that it worked for me. The books used and the marks obtained by me are as follows:

A/c (57 marks) - Padhuka+Rawat

Costing and FM (52marks)- Padhuka

Law(47 marks)- Munish Bhandari

Taxation(63 marks)- Manoharan for Income tax and ICAI module for st,vat

Group 1 total= 219marks

Adv A/c(62marks)- Padhukas

Audit(60marks)- Surbhi Bansal

IT and SM(49 marks) - ICAI Compilation for IT and padhukas for SM

Group 2 total= 171 marks

Grand total = 390 marks

The most important thing to remember is that the value(cost) of even a single day can be as much as six months(that is only if you don't pass).So try to study as hard as possible in this time frame of sixty days and don't waste even a single day for any reason. And since I managed to pass my November 2010 IPCC by following the above mentioned schedule, then i sincerely believe that any other person on the face of this earth will also be able to pass their forthcoming IPCC/PCC examinations.

Before starting to write the exam, while seated in the exam hall, DO NOT  engage yourself in chit chat and DO  breathing for atleast 10 minutes to keep your mind cool. In all the exams try to attempt between 90-100 marks. Dont waste your time reading the paper when you get it. Just attack the first question and read the rest only when you get to them.

Also if you like reading books,I would suggest you to read some general self help books like The secret, Think and grow rich, Zen and the art of happiness, The law of attraction etc which play an important part in increasing our self confidence and instill a sound belief in us that anything is achievable if we sincerely believe that it can be achieved.

Also even before you pass your exams, gather information about the ca final course, the subjects, refreshers to be bought etc.Also visualize the day of the results everyday just before sleeping and after waking up in grand detail.(Think about you passing the IPCE, yours parents are happy, you sharing the good news with your friends etc) In short, even before you actually pass your IPCC, at least on some level you should already be a CA Final student.

All the very best to every IPCC/PCC student in his/her forthcoming examination

My other achievements

CBSE 10th - 89%

CBSE12th - 91%


CREDIT :  Abhijit Pai @ caclubindia

55 comments:

  1. Thanks 4 the Valuable Information...!!!

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  2. thats really commendable... thanks for sharing... it is quite inspiring....

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  3. well congratulations on passing the xam
    hope ur tips wud help me do the same...

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  4. How iz dat possible ?60 days without any coaching ?dat to two groups in 1st atempt? r u joking

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  5. i have been suffering from the same condition as u were earlier ... lets see what happens in may 2011 ipcc ....

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  6. wow!thanks for the tips! well i am also a bit confused of my preparation but ur tips gave me a path to study thank u very much

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  7. it's incredible really respect u

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  8. can u plzz tell me dat hw u studied one subject continously 6 days ....u didnt get bored

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  9. i m also suffer frm such prob. bt i read all 5 subject in one day by giving 3nd half hrs to each one ................is this concept of study is right?

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  10. JA BE GHAR PE JA... SAAL BHAR KYA HILAYA KYA......

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  11. chutiya baana na ka dhanda hai kya

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  12. GREAT......
    CONGRATZZZZZZZZZ
    HOPE I WILL ALSO CLEAR IT

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  13. praveen sharma ki aullad hai kya tu.. jo 10 din mai accounts cover kar li tune.

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  14. itz nt the rgt mnr..............
    jst do stdy evry'd evn for an hr............

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  15. awesome motivation................. now i'm feeling YES I CAN DO IT! ... THANKS A TON!

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  16. hard very hard
    every one not able to copy ur tips.....
    its like do and die at last time.....

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  17. thanks for giving this information i try to achieve my goal

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  18. Thanks and i will try the tips

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  19. I cant believe this ! !
    You must be talking about your final revision .
    otherwise NO ONE CAN STUDY LAW IN 7 DAYS

    THIS IS ALL XXXX ! !

    I DO NOT BELIEVE YOU DEAR !

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  20. This comment has been removed by the author.

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  21. thanks for your kind information.continue all these

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  22. This comment has been removed by the author.

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  23. well i think u can get a 50 in law easily..if u know to write law paper!by studying for just 7 days!

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  24. Hey this is inspiring..though a little unbelievable...what i want is something to make me sit for 10 hours..coz i cant study that much in one go..reply n help..how u got yourself determined to sit 10 hrs..and Friends! Must say it helps me refresh in study hours too

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  25. thnks for sch inspiration

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  26. If u got 390 in 60 days,I can get 400+ in the same...
    Belive u its possible

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  27. that is virtually impossible man , how come you cover IPCC in 7days, mere spiritual stuffs don't work here, you have to read recall , practise again and again and you say you covered IPCC in 60 days which is designed for 270 days, don't make a fuss yaar, that must be your final revison...

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  28. Ye bhosdika chutiya bana rha hai maro sale ko 60 din me tum group 1 nahi hila skte qhat are you sone of albert einstien? Bloody moron you are ,dont fake it like this overhere other wise you r gonna post next time "how to get your ass kicked in 60 days"
    Abe tu pass bhi hua hai? Chutiya sala

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  29. thank you for ur suggestion...
    m giving my scond attempt in nov 12...i wil surely follow thes e and try my best to pass both groups

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  30. thnkyou very much bro........i m feeling dammn good to read this ....... :-)

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  31. i hd done coaching bt din t pay attention in classes so well.... bt nw iz d tym 2 get serious... din raat ek kr k ab to padhna hi padhna hai... hav started studing..... wrk hard... success wil b urz.!!!

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  32. thnks yaar .....i helps it stay confident and hopefull for clearin d exams

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  33. well i wish to try it coz i'm more lazy than anybody else so lets put our fingers crossed.

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  34. Really it's iposssible to believe in first sight, but i think it's possible...once i wil also check it out friend.....

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  35. it is very motivational. i will try my best to follow this schedule and with god's grace will pass surely :)
    ALL THE BEST TO OTHERS ALSO

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  36. Really its not possible unless u have studied before..i have cleared grp 1 and got 231 in 1st grp..its his final revision...nt possible if u have nt studied before..

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    Replies
    1. hey bro can u tell me what was ur study plan for ipcc grp1 for last 2 monthss

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    2. grp 1 can be finished in 1 month.. initially keep 6 days for every paper.. then 4*6=24 so still have 6 days.. means one paper 1.5days.. and exam previous day 1.5 days.. together 3 days in total.. so go by this..

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  37. Paper 1 : Accounts

    1. Start with AS, there will surely 10-15 marks paper out of it. First read it from your material or book whatever you had and in last for practice please do all question of Study Material & Practice Manual issues by ICAI.

    2. Than do small Chapters & topics like Managerial Remuneration, Pre & Post Incorporation, Average Due Date & Account Current and Bonus Issue (8-12 Marks question will be surely out of it.) Also read out and do question from Practice Manual.

    3. Now you can do Chapter like Investment Accounts, Incomplete Records, Financial Statements of NPO, Self Balancing Ledgers, Insurance Claims ( This topics are easiest as well scoring topics and cover around 16-20 marks ) Again just go through the Practice Manual Questions.

    4. Now do Internal Reconstruction, Amalgamation & Partnership receptively. (Covers 30-40 Marks)

    5. In last do Hire Purchase as it is lengthy topic and many students find difficult to do this chapter, so if you have time than do otherwise just read out the question from Practice Manual. You can leave this question in choice also.

    6. Finally do theory from Practice Manual as theory questions will be repeated in all exams, so do all theory questions from PM. And start with “Computerized Environment ".

    Paper 2 : Law, Ethics & Communication

    1. Start with ethics most easiest and scoring topic. You can do it from notes which i provided or your own book. Fast reading of all question in Practice Manual is enough. Minimum weight age is of 20 marks.

    2. Now you can do Communication as it is also easy do theory part first and left deeds and documents part for exam days. You should do all deeds from module and left out last 2 attempt deeds. And please read all questions from Practice Manual.

    3. Now move to Company law, do Meetings, MoA, AoA , Conversion of Pvt. to public Co. or vise- versa , Prospectus, Membership first than move to other topics of Companies Act. Better to do all questions from Practice Manual as many question will be repeated.

    4. Now do small topics like Payment of Bonus Act, EPF, Payment of Gratuity. This are easiest topics and surely of 15 marks. Make sure you do all Practice Manual questions.

    5. In last do Contract Act and Negotiable Act. In Contract Act do Bailment 1st than all other topics. And negotiable act is too lengthy than you can do all question of practice manual only because it is of 5 marks only.

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  38. Paper 3 : Costing & FM

    Part A : Financial Management -

    1. You should start with Capital Budgeting and than Cost of Capital this both chapters covers 16-20 marks easily, mainly practical question comes from this chapters so don't waste time on reading theory. If anyone not interested in doing material which he/she have than just do all question from practice manual of this topic.

    2. Now you should do leverage , Ratios & Working Capital Management. This topic are easiest as well scoring topics. This covers again around 20 marks minimum and both practical & theory questions asked from it. Do this topics properly from your books which u have than do question from Practice Manual and mainly theory questions comes from Practice manual only.

    3. Than do Cash Flow Statement & Fund Flow Statement, as we studied this topics earlier so do it fast and don't waste much time both theory and practical questions may be asked. Marks covered around 8 but sometimes 16 marks big question also asked so prepared for it.

    4. Now do theory properly as this paper contain good questions of theory & overall theory asked in CAFM paper is minimum of 30 marks out of which 20 is from FM. Important topics for theory are Basic Chapter, Ratios ( Importance & Limitation ), Types of Financing, Management of Debtors etc. ( Make sure once you read all theory question in Practice Manual. )

    Part B : Costing -

    1. No doubt you should do Standard & Marginal costing in starting. Not even a single theory question asked from this two topics so just concentrate on practical questions. Try to make your own notes or summary of all formula as this chapters based on formula only. Around 16-20 marks covered by this two topics.

    2. Now you should do Contract, Process , Equivalent, Budgetary & Operating Costing. This topics again cover 16-20 marks. Theory will come from Budgetary & Operating only. Better to go through Practice Manual also as sometimes not exact but of same pattern question comes in exam.

    3. Now you should do small topics like Material, Labour & Overhead . Mainly question comes from Direct Material like EOQ, Re-order level etc. Don't waste much time on Labour & Overhead as they are lengthy as well as not questions not frequently asked from this topics.

    4. Now do this 3 topics from Practice Manual only because question get repeated in this topics - Non Integrated, Integrated Account & Reconciliation of Cost & Financial Accounts. Generally 4 marks theory questions asked in exam.

    Paper 4 : Taxation

    1. Without any doubt and hesitation start VAT & Service Tax.. VAT is easiest topic just read it properly and do practical questions also. After reading from book in last just go through the Practice Manual. In service tax do properly as there are lot of amendments and please do buy new Practice Manual of Tax from ICAI Branch and do all questions properly from it i am sure there will be many questions straight forward from Practice Manual ( Nov. 2012 edition ). Marks covered by these two topics are around 60 marks out of 120.

    2 In Income tax start with Business & Profession because as early as u finish this chapter you will feel relaxed. Now do Salary, House Property, and Capital Gain & Gift. Do questions of Capital Gain & other sources from Practice Manual. This topic cover around 30 marks.

    3. Now do small & easy topics like deductions, TDS, Procedure of filing returns etc. there will we 8-12 marks questions from this topics.

    4. Now do Set-off & Carry forward & other small topics, theory questions may be asked from this topics so read it properly.

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  39. u need atleast 1 month.. that is what i am having now..!! we can do it friends.. :)

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  40. Thank you, freind
    Pls say me also about Group-II.

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  41. Truly remarkable ! Greater the odds,greater the glory

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  42. thnk u sooooooooooooo much for dz valuable info to us

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  43. i was just preparing both groups with my icai board material...... is it sufficient for preparation in 3 months.......??????

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  44. pls tell how to prepare for st and vat , and group2 papers

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  45. Even i have cleared ipcc both in 2 months but i used to study for 17-18 hours in a day.
    I appreciate ur achievement.

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  46. arey yaar ca is not a get rich quick program

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