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Tips to prepare for Advance accounting

Tips to prepare for Advance accounting

1) The First and foremost topic to be selected is Accounting standards which carries around 25-30 marks almost 30% of marks so concentrate more on this.. Standard wise Preference is as follows… • AS-4 • AS-5 • AS -12 • AS-20 • AS-19 • AS-26 • AS-29 • AS-16 • AS-11

(mostly  basics will ask in exams )

2) Now take on Topics part of Company Accounts which carries overall weightage of 35-40 Marks and the topics are easy compared to partnership accounts…. Topic wise Preference is as follows

• Amalgamation and Internal Reconstruction (In this topics 16 Marks Questions are asked based on the paper asked in group I i.e if 16 Marks Q is asked from Amalgamation in Group I then in second group 16 marks or 8 marks questions are asked from Int.Reconstruction)

• Issue and Redumption of Debentures ( This topic is already covered in Group I i.e AS-13 so students who passed Group I can just revise it once it is sufficient)

• Liquidation of Companies (problems are based on Prescribed formats)

• Buy Back of shares

• ESOP’

3) Now If you are confident of doing Partnership Accounts you can go ahead but it is better to choose Accounting for Banks, Insurance , Electricity as these also cover up to 15-20 marks Preparation for this chapters is it is advisable to thoroughly prepare problems of the model asked in previous years (scanner) and Practice Manual

Don’t waste time preparing lengthy formats as those are not of that relevance

4) Now it is better to choose Partnership Accounts which carries 16 marks

5) As a final step prepare Branch and Departmental accounts carries  6-8 Marks.

Tips to prepare for Advance accounting,check here

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