Preparation Strategy for CA Intermediate Group 2 Sept 2024 Exams

Are you worried about how to commence your preparation Strategy for the CA Inter Group 2 September 2024 Exam? Then this article is especially for you.

In this article, we’ll be sharing the preparation strategy for the CA Inter Group 2 papers, including which topics to cover with their marks weightage and the study plan to cover those topics.

According to the CA Intermediate Group 2 papers passing criteria, students must obtain 40% marks in each subject and 50% aggregate to clear a group. So, study according to the following preparation tips and clear the exams on the first attempt.

You can also check the subject-wise study plan & preparation strategy for CA Inter group 1 papers.

CA Inter Group 2 Papers:

• Paper 4: Cost and Management Accounting (100 Marks)
• Paper 5: Auditing and Ethics (100 Marks)
• Paper 6: Financial Management and Strategic Management(100 Marks)

Check the CA Intermediate eligibility criteria to register for the course.

Furthermore, you can also check the complete details of CA Intermediate Registration January 2025.

How to Prepare for CA Intermediate Sept 2024 Group 2 Papers?

Preparation Tips for CA Intermediate Group 2 Papers – Cost and Management Accounting

Topics Covered in Cost and Management Accounting

Note: Check all the details of the CA Inter September 2024 admit card.

CA Intermediate Group 2 Papers – Strategy for Auditing and Assurance

The most awaited subject in the CA Intermediate Group 2 Papers is “Auditing and Assurance”. The subject is not that easy and also not much scoring. But you have to read each and every topic as this is the basic work of a Chartered Accountant, and everyone has to perform the audit in their office during practical training as soon as they clear the CA Intermediate.

Topics covered in Auditing & Assurance

Other important topics are as follows –

• Special Audits related to Club, NGO, Partnership firms, Educational institutions, Hotels, Cinema Halls, hospitals, sole proprietor 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.

The presentation of answers in the Audit is important for getting good marks. Always write your answer in points or short paragraphs. Underline the important keywords.

Start your answer with the proper analysis of the question, then write the provision regarding that, and end your answer with the proper conclusion.

Practice the questions from the compilers of the VSI Jaipur or ICAI. Many questions are directly seen from the Practice Manual, so it is better to cover the Practice Manual thoroughly.

Check the complete CA Intermediate syllabus for the Sept 2024 exams.

Study Plan for Strategic Management

This subject is equally divided into two sections: Information Technology (IT) and the other one is Strategic Management (SM).  SM is considered as scoring and easy, while IT is difficult to learn and retain.

Topics covered in Strategic Management

Flowcharts and decision tables are the highest-scoring and easiest topics in enterprise information systems. A question covering 8 marks is generally seen in the paper. Most of the time, the question that arrives in the exam paper is from the ICAI CA Intermediate study material, either the study material or the practice manual.

The problem generally faced by the students is lack of revision, which makes them blank in the exam even after studying a lot, so revise it daily.

Many of the students have a perception that this is a complete learning subject, but no, this is not true. You need to understand the para before learning. Otherwise, it cannot be retained in your mind longer.

Don’t stick to a single topic for the whole day. If you are not getting that topic, move on and mark it so that you can ask your teachers for help.

Make a summary of the chapters. Chart format is preferable because at the exam time, revision of the entire course is not possible from the book. So, be ready with the summary notes.

A good command of the language matters a lot, especially in IT and SM. The presentation must be good enough to get the marks. Practice writing answers at home and match them with the institute material or suggested answers.

SM is considered easy in comparison to IT, but resultant checking in SM is tough compared to IT.

Thoroughly complete the VSI compiler and read the practice manual as many times as you can.

Must Check: CA New Scheme 2024

Study Plans for Financial Management

The subject is divided into two sections: one is Financial Management, and another one is Economics for Finance. Financial Management covers the major part consisting of 60 marks, and Economics for Finance consists of 40 marks.

The subject is newly introduced. Financial Management was part of the first group and has now become a part of the second group with Economics for Finance.

Topics covered in Financial Management

Start from the basic theory and formulas of the chapters so that you can easily solve the questions. Try to understand the making of formulas so that they will be retained in your mind for a longer period.

You can start with the Cash Flow and Fund Flow, the most important topic. You will definitely find a question either from the Cash Flow or the Fund Flow.

Then, take a short chapter to build confidence, i.e. Leverage, a formula-based chapter. If your concepts are clear and you understand the formulas rather than learning them, then it is the simplest and shortest chapter.

Then you can go with Capital Budgeting and thoroughly prepare the sums on Payback period, PI, ARR, NPV and IRR. Each and every method is important, but among all the topics, NPV and IRR are quite more important so prepare them very well.

Again, pick a short chapter on ratios, which is formula-based. Read and understand the formulas first, and then start solving questions.

Then, you can complete Cost of Capital, Leasing, Management of Working Capital, and Capital Structure. Prepare the theory well for the practical part.

Practice the questions in your VSI compiler and Practice Manual. Revise the subject daily and prepare charts on formulas for each chapter.

Topics covered in Economics for Finance

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

The Subject is newly introduced in the CA Intermediate. But the subject is short, and topics are easily understandable, so you can score well in Economics for Finance.

Cover each and every topic. Start the topics depending on their length and at your convenience. Check the CA Intermediate exam dates for each paper and make your study plan accordingly. Furthermore, students can fill out the CA Inter exam form for the September 2024 attempt from July 07 to July 20, 2024. So, hurry up to avoid the last-minute rush.

You need experienced teachers and proper guidance for the best CA Intermediate results, and VSI is always welcoming every student. Each and every single concept is made clear by our experienced teachers. From time to time, motivation given by our teachers helps the students focus completely towards their goals and do not let them get distracted.

Conclusion

In this article, we have learned the CA Intermediate Group 2 papers’ study plan and preparation strategy. Now, you know where to start a particular subject, how to cover the entire CA Intermediate course of group 2 subjects, and some easily scoring topics in each paper.