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
Income Tax=10days*10 hrs=100hrs
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