Advanced Accounting Important Questions

Important Accounting Questions for CA Inter

Introduction

Accounting is one of the foundational bases of every commerce degree, including the CA professional degree. This subject has both theoretical and practical aspects to it. In the CA Inter stage, this subject appears as Accounting in the Group I syllabus and Advanced Accounting in the Group II syllabus. Mastering this subject requires you to build some good analytical, numerical, and problem-solving skills. The amount of grasp you have on this subject heavily affects the overall CA exam preparation not only on CA Inter but also on the CA Foundation and CA Finals exam papers. If you are aiming for the CA Inter attempt, then this article is for you. We will cover every aspect of practicing questions and the right approach for this particular exam. Lets see what those are in detail.

Right Approach to Practicing CA Intermediate Account Questions

●Never hurry to solve questions without fully understanding the concept. Diving directly into problem-solving is a big mistake. The account is a subject that will haunt you if you do not understand the concepts first.

●Prerequisite of the chapter. If a chapter requires some knowledge of other chapters, then at least go through that chapter once. For e.g., you cannot study "Partnership Accounts" if your basics are not clear in the "Company Accounts" chapter.

●Do not overdo it. Solving Accounting questions should not take your whole time. You also have to process what you have solved.

● Know what the most repeated topics in the CA Inter examination are, whose list is also provided in this article.

● Make sure to study from genuine sources. The study materials or modules, whichever you use, should be from credible sources or coaching institutes.

● Practice as much as you can in this subject of accounting. The amount of real practice will eventually make you ready for your final exam.

●Have Patience - excelling in accounting as a subject takes time. Do not skip any theory, practice, or doubt classes.

Most Repeated Topics in CA Inter

Now, lets have a look at the most repeated yet important topics in the Accounting subject. These lists primarily focus on CA Inter subjects, including chapters from both Accounting and Advanced Accounting. Here it is.

● Accounting Standards: Accounting Standards have crucial implications for both exam and future CA practices. They also play a role in compliance in financial reporting.

●Financial Statements: This chapter knowledge will be required to solve many different types of questions in the CA inter exams.

●Company Accounts: The concepts of Company accounts are used in many different questions and chapters as well.

● Partnership Accounts: On average, you can expect 2-4 questions from this topic.

●Valuation of Inventory: Both theoretical and practical questions are asked in this chapter.

●Cash Flow Statements: Both direct and indirect methods questions can be asked to you. Around 2-4 questions from this chapter are expected to come in CA Inter exams.

●Financial Ratios & Depreciations: Students are asked questions about different methods of depreciation in the CA Inter exam papers.

Easy To Cover CA Inter Chapters

Some Accounting chapters are also there, which will take the least of your time and still provide you with good syllabus coverage. You should also know those chapters as the final exam is qualifying in nature. Here is the list for the same.

●Basics of Accounting: Easiest and simplest to cover.

●Preparation of Financial Statements: One of the easiest formulas is included in this chapter. Any student with little effort can master it.

●Accounting for Special Transactions: These questions mostly require you to use direct applications of basic accounting principles.

● Accounting for Company Accounts: Simple and basic questions from this chapter are sure to come.

●Financial Instruments: One of the most interesting chapters in accounting.

●Accounting Standards: Easy to grasp and straightforward formula applications.

Theoretical Chapters in CA Inter Accounting

Some chapters in the Accounting subject have more to read than to practice. The reason why you should know these is because you can then separate it from other chapters and read all of them at once. This will help you study more effectively. Lets have a look at the list of chapters.

● Accounting Standards

● Applicability of Accounting Standards

● Financial Statements Frameworks and Presentation

● Presentation and Disclosure-Based Accounting Standards

● Partnership

● Accounting of Employee Stock Options

● Buyback of Securities and Equity Shares with Differential Rights

● Amalgamation of Companies or Internal Reconstruction

Practice-Based Chapters in CA Inter Accounting Subject

There are plenty of chapters in CA Inter Accounting that will require intense practice and hard work. The knowledge of those chapters is also important to cover the subject of accounting completely. Following is the list of all those chapters which require time, effort, and lots of practice to master.

● Accounting Standards

● Amalgamation and Internal Reconstruction

● Partnership

● Esop and Buypack

● Single Entry

● Non-Profit Organistion

● Hire Purchase

● Banking & Insurance

● Branch and Departments

● Underwriters

You have to build a strong practice routine for all these chapters. Also, try to build better problem-solving skills by constantly analyzing your question-attempting skills.

Important Tips for CA Inter Accounting Subject

To perfectly master this Accounting subject we are providing you here with some lesser-known but most effective preparation tips and tricks.

● Mark the question that took your time. After completing your whole chapter, come again and answer similar types of questions to enhance your speed.

● Never skip revising easy questions. Sometimes, not knowing easy questions can also harm you much worse than you ever imagined.

● Try to have a go-through session of the chapter before you dive into question-solving.

● Ask doubts to your teachers if you have any. The more you will ask questions the more you will know about yourself.

● Finally, practice daily. This is not a tip; it is a must-have.

Conclusion

Accounting is an important subject, and ignoring it can put you in huge trouble. So, choose your steps wisely and study regularly to have the best score in the upcoming CA Inter examinations. You can use this article by fetching all the data and information that we have provided here. That is all from our side. All The Best for your exams.