CA Final, IPCC Important Questions for May 2014 | Chapters| Tips

CA Final, IPCC Important Questions for May 2014 | Chapters | Tips

December 12, 201346 Comments

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May 2014  CA examinations are coming near day by day, so students have started searching for CA Final, IPCC Important questions for May 2014, IMP Chapters, IMP Tips for IPCC May 2014 exam. But friends, first let me clear that Everything is important in CA examination except nothing… lol but its true. But even after telling this I am definitely agree that certain tips or tricks regarding examination about important chapters, time schedule can really help and make you to crack CA examination easily if you properly do follow our tips with smart work. So here I am presenting useful tips regarding IMP chapters. Most important chapters,topics & tips for CA Intermediate/IPCC, Final May 2014 exam. Follow tricks, suggestion for last day/night preparation for May 2014 exam. Hope it will help you.

ca exam tips

Recommended Read:- How You Can Pass CA CPT, IPCC, Final Exams in 1st Attempt Easily

Must check: >CA IPCC Syllabus for May 2014 & IPCC IT, Tax Changes for Nov 2014

CA Final, IPCC Important Questions for May 2014 | Chapters | Tips

Before starting for any tips for IPCC, I will recommend you to get the IPCC May 2014 Study Schedule, this will help you to crack IPCC if you have less time even.

IPCC Important Questions May 2014

Some important questions/topics for CA IPCC which you should not miss to prepare for IPCC May 2014 exam. These are very important for IPCC May 2014. These are provided by Yogesh Gupta.
(Don’t leave these Chapters & topics at any Cost)

*Group 1

-Avg. due date(4)
-Amalgamation/Internal Reconstruction (16)
-Hire Purchase(8)
-Cash flow(16)
-Single entry(16)
-Imp. AS(revenue recog.,contract
,dep.,fixed asset)

*Law,ethics n comm.
-last 3 chptrs of Indian Contract
Act,combined (10)
-Share Capital,General Meeting
-t/f transmission of shares Membership
-Share allotment,prospectus n MOA yg
-ethics(full,dnt leave anythn)
-comm.(deeds r vry imp.) n comm.
theory,rest of d chptrs

*Cost Accounting & FM
-Contract Costing,Material
-Labour,Overhead,Process Costing
-Capital budgeting,leaverage
-Working Capital,Receivable Mgt.
Cost of Capital,Ratios

-Salary(RFA,HRA,gratuity,pension,leave salary…motor car facility n few more perquisites,all allowances r imp. shudnt b ignored) yg
-Business proff.(thz sec r d most imp. viz sec 32,40A2,40A3,43B n topics lyk deduction in case of scientific research,writing off of preliminary exp.,ques related with book profits n cash payments in excess of 20,000 n payments tht can b made n claimed till ROI filing date ie d above sections mentioned)…dnt leave ths chptr FCAs plz,it’s coming of 16 marks since May’10 in evry attempt.
-Capital gains(exemption related
sections,forfeiture sec 51, conversion of capital in2 stock n sec 47)
-Clubbing,other sources
*Service tax n VAT(fully) dnt leave
anythn,r SCORING


-Amalgamation/Internal Reconstruction (16)
-Branch A/c,liquidation,ba
nking,insurance …all may come of 8 marks each
-Underwriting,departmental(5 each)
-imp. AS(borrowing cost,govt.
-debenture chptr(16)

-Co. audit 1 n 2
-Spcl. Audit
-EDP,govt. audit,Caro
-200 300 500 series SAs r imp.

(almost carry 40 marks weightage)
*SM (full)

So, dont miss this important topics for CA IPCC Nov 2013 exam. Chances of asking for above topics are high. These IPCC important questions May 2014 were given by Yogesh Gupta. Thanks to him.

IPCC Important Tips May 2014

1. IT & SM:

I am starting with the last paper of IPC/IPCC examination because this is the subject where lots of the students get struck and are failed. So I would suggest you to follow my steps to crack this subject with good marks.

in IT SM subject, from practice manual 45 to 50 marks paper will be definitely asked because questions are repeated each time, so you should concentrate on that if you have less time.

Tips for Information Technology :

  1. In this part, start with easy chapters like Data Storage, Retrieval & DBMS and they have good weight-age also. So do this first.
  2. Now do flowchart and Decision table marks covered 8-10. For a good grip in this part, do all illustrations from module and questions of Practice Manual.
  3. Then come on Internet and Other Technology, many topics also easy under this chapter and scoring also. So do it properly.
  4. Now do Software and Computer Network & Network Security chapter this chapters are heavy i.e. have lots of topic. So try to cover as much as you can.
  5. Now just check the definitions asked in past exams from practice manual and RTPs, and from module too.

Tips for Strategic Management :

SM Tip: Start SM preparation from last chapter to first chapter.

  1. Do Practice Manual first as if once you do it around 60-70% course will be covered. From Practice Manual its quite easy to read topics as they are given question format rather than paragraphs as given in modules. And generally questions get repeated, so prepare those questions thoroughly and you will definitely score in subjects.
  2. Now start reading from Chapter 7. You can read from module as its language is easy.
  3. Do all chapter end questions from module because true & false many times comes out of it. So better to go through that. And there are sometime 4 marks filling the blanks, so for it, just go through the quoatation given before starting the chapter. Just go through past papers, you will find those one liners in the form of filling the blanks.


Exclusion of certain topics from IT paper from November 2012 CA IPCC examination and for May 2014 exam too..

i.e. no question will be asked from this chapters given in below table because these are completely irrelevant for CA curriculum.

>So in chapter 1 only the remaining chapter which is Software will be asked, so we can say the weightage of the Chapter Software has very much increased and so you must read this chapter properly for better results.
Chapter/Unit Number and Name
Page Numbers in Study Material
Chapter – 1
Unit-I Introduction to Computers
Unit-II Input and Output Devices
(a)Computer Hardware Classification of Computers – Personal Computer, Workstation, Servers and Super computers
Computer Components – CPU, Inputs output devices, Storage devices, Storage devices
(b) Bus, I/O CO Processors, Ports (Serial, parallel, USB ports), Expansion slots, Add on cards, On board chips, LAN cards, Multimedia cards, Cache Memory, Buffers, Controllers and drivers
1.1- 1.105
Chapter-IV: Internet and other Technologies
4.48 – 4.53

>EDI also is one topic which is given in Internet chapter which is not going to be asked in Nov. 2013 CA IPC/IPCC examination.

Don’t Miss:- Download Study Material & Practice Manual for CA IPCC – May 2014 (Latest).

2.Taxation Tips:

You  have to read every concept in income tax paper  & one more thing is total income problems are important, and in every problem you have to make note points, it will impress to valuationer.

In taxation paper preparation for day before exam, 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 lots 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 away from Practice Manual). As you know Service Tax & Vat portion covers 50 marks.

>Then come on Income tax portion, start from Business & Profession head, then Capital Gain, then House Property , Salary & other Sources. Later than this do the small chapters, like deduction from GTI, TDS, Set off & Carry forwards etc.

>Put the currency symbol other wise u can loss marks.

>My sincere advice is don’t start with total income problem in examination because its take more time for completion.

ICAI Recommends:- >ICAI Recommended And Other Suggested Best Books for IPCC May 2014


Golden Tip:Remember in Auditing the module’s language is the most important requirement to get good marks. So, read only Study Material and Practice Manuals. And even Practice Manual is enough to get 50~ marks.

In auditing company auditor I & II chapters are very important as they cover around 20 to 30 marks.

>Standards on Auditing (SAs) are also important for exams read  2 to 3 times at least. Auditing standard Chapter covers at least 30Marks for the purpose of the exams.

Then later do basic chapters and then Special Audit and after it do Vouching & Verification. As said earlier language is important, so read carefully and remember the typical words.

Special Audit Tips:-

You will see a question of 8 marks at least in every Auditing paper, it will come this time also, for sure.

> Don’t mug up this topic, Read with an open mind & Understanding that you are a CA & doing the Audit what you would check & How, what should be the Primary docs to get the required information etc ?

And you will find that every Special audit would have say appx 10 points of which 4 – 5 points would be common ( like, The Docs of Formation i.e Memo & A of A / Partnership Deed / Trust deed etc, Check the authorities given as per the doc / Powers / Policies  etc ).

> Also this being more a practical type of Topic, you will find it interesting.

> Excluding such other 5 points would be different with every different entity based on the area of business in which it is. e.g. in case of schools You say check Fees Receipts / Purchase of Books/ Deposits & fines taken from Students, In case of Hotels say how control is kept on the Issue of Food items & provisions to kitchen is maintained, How is the billing control of Rooms maintained etc.

You read all type of special Audits ( 1st do reading carefully with understanding & no mugging (Ratta)  taking 30 mins per audit & you will find that you need not revise it again)

MOST IMP:- From last 3-4 attempts, Institute is asking only theory questions in Auditing paper, so don’t waste much time on practical problems and read theory portion well.

 Must download:- CA IPCC RTP May 2014


In accounts I & II subjects very important is accounting standards its around 25 to 35 marks in the subjects. In examination for better presentation, start with journal entries problem then ledger a/c after that final a/c problems. Thats why, because time management is very important in CA examinations.

Amalgamation and Partnership are also the most important chapters, solve atleast 1 some of all the types to get good confidence in this chapters. These can be asked for 24 to 40 marks in each a/cing paper.


5. COSTING & FM Tips:

In this subject first of all theory part you have to prepare its nearly 32 marks, so just read the practice manual properly, most of the questions will be from it only. Theory will help for practicals also. ( eg ; If you read theory of Labour All methods of calculation of Wages will be understood, Material Formulas will be known, Contract A/c Ways of calculating the Profit will be understood.. So now it is clear Why Theory should be done first, & its Importance in this subject)

If you are too good at Concepts & Practical then only Ignoring thorough study of theory can be thought else for average / bit above average student, Practical with Proper study of theory only can Pass with 50 – 55 marks in this subject.

In costing start with Standard Costing & Marginal costing then later Contact, process, material, labour, overhead and so..

In FM, Capital budgeting & Cost of Capital are very vital chapters do them first, properly.

then leverage , Ratios & Working Capital Management, Cash flow, fund flow and so..

6. LAW, Ethics & Communication:

in this subjects first finish the Ethics & Communication as it is quite easy and of 40 marks too.

Then take the Business Law part and later prepare company law.


Don’t miss: (Latest )Download CA Final Study Material & Practice Manual (Useful for May 2014)
Recommended Article:- CA Inspiration & Motivation- Success Stories of CA Final Cracker’s

Important Chapters & Tips For CA Final My 2014 Examination:

Before reading CA Final Tips, I will recommend you to get CA Final Study planner & Tips – May 2014.  Here below I have gathered certain important chapters which are asked in every attempts with good weightage. I have also given the name of Authors  whom reference books to be preferred for CA Final examination preparation.  So check them out.

1) Financial Reporting:

For the important chapters for Financial Reporting for CA Final May 2014 examination, consider following in tips:

I divide this subject in 5 parts:

1)   AS.

2)   Miscellaneous chapters.

3)   Consolidated a/c.

4)   Amalgamation.

5)   Valuation.

a. AS in general are asked around 20 to 40 marks so must not ignore that. They are sometimes copied from modules and PM

b. You can refer any good reference book. Which I personally feel every CA should refer, as they are fundamental matters. WE CA s are recognized by AS. (I referred RAWAT SIR’s)

c. Refer past papers and find out patterns. If I point out many AS Like 15 16 20 22 30 31 32 are in category of FAQ (these are just e.g.)

d. Miscellaneous chapters are not at all misc in importance. They are asked of 16 to 24 marks and beauty is they are far easier and less complicated in nature. Must not ignore them. E.g. Nov 11 paper.

e. As for last 3 parts I am sure all of us do so much practice that sometimes we can even solve that entire sum without question in our sleep.

 This will help you:- >Download CA Final Nov 2013 Suggested Answers by ICAI

Latest RTP’s:- >Download RTP For CA Final May 2014

2) Strategic Financial Management:

I divide it in 3 parts (module chap no)

1) Theory( chap: all chapter module theory especially 1,8,10,11).

2) Chap 3,4,6,7,9,13.

3) Chap 2,5,12.

i. Theory is always good scorer as being in practical paper.

ii. For the above practical chapters I’ll definitely say make concrete base of concepts and you’ll crack the paper.

iii. AS I’ve seen the area which is most twisted in paper comes generally from chapter 2, 5,12,7. Brush up time value of money as it comes everywhere.


3) Audit:

I divide this subject

1) Professional Ethics.

2) Co. Audit.

3) SA.

4) Others.

a. For professional ethics I would only say mug up the clauses line by line. As it’s our act the language must be same.

b. Paper presentation plays important part. Must underline all the clauses sections and SAs and have a neat presentation.

c. Many case studies in areas of Co Audit and Professional Ethics are repeatedly asked so do refer all the material of institute.

d. MUST DO SAs…cause as accounting standards SA are also most important part of our study. Don’t forget to compress your material. (i.e. determine what to do at last day so you can gain confidence of reading it all)


4) Law

I divide this subject

I) Company ACT.

II) Allied laws.

a. Personal advice: Munish Bhandari.

b. Don’t ignore 30 marks portion of allied laws. It’s of same importance too.

c. Cross out repeated asked cases in Bhandari so you’ll have less burden at last moment.

d. Read the analysis given for each topic. You’ll come to know the weight of topic.

e. Must compress material for last day. Or you’ll be lost in what to do and what not to do.


5) Costing QT:

Must do conceptually.

I divide this subject


1) Standard costing.

2) Budgeting and other material related topics( ABC,JIT).

3) Decision making chapters.   

a. In costing all sum are of different type. (especially decision making sums)

b. Be ready to read long description with lot of accuracy.

c. Checking the solved part of question and underlining the figures will be of immense help.

d. In Qt there’s trend of asking “ulta” question which are always easy but due to lack of practice we get scare and not even attempt that some time. But if you are to solve that at home you’ll find it too easy. So never freak out when such questions are there in exam.

e. Theory is always of 33 to 40 marks having very less to read as compare to those long questions.

f. Be ready for any kind of questions. Nov 11 final exam question is classic example of conceptual question where transfer pricing and other many questions were of concepts and not of numerical.



For the important chapters for ISCA for CA final November 2012 examination, consider the following tips:

I divide this subject

1) Chapter 6,7,8,9.

2) Chapter 2,10.

3) Chapter 3.

4) chapter 1,4,5.

a. Must refer module only for reading this subject. Also write same language.

b. Have habit of reading ISCA theory in question answer format like that given in PM. Cause most common problem that I’ve heard is “Yaar sub kuch pada tha but question samaj me nai aya to answer kaise likhe.” So to answer best have a habit of reading in such format.


7) DT

Important Chapters for Direct Tax CA Final November 2012 examination:-

1) Wealth tax.

2) Assessment of different assesses.

3) 5 heads of income.

4) NR taxation.

5) Assessment procedure.

6) Other chapters.

a. Must do wealth tax, with assessment theory and in depth. They might not ask full sum instead in past 2 years they asked small questions.

b. The syllabus in 99% case never going to be completed if you are giving ISCA and having only 1 holiday so must plan LMR on hour by hour basis. And even if you can’t complete whole syllabus no need to freak out cause everybody is in same boat.

c. Do refer institute case laws as they are often asked same to same

d. Amendments are “must do” thing.


8) IDT

Personal advice: Bangar

a. Must do amendments.

b. Must do institute’s case laws(asked of 16 marks almost every time).

c. In case laws it’s not necessary to remember assessee name but if you want to you can do this, read whole case and wherever assessee comes replace it with the name. in this way you’ll remember it.

d. In practices do not forget to write notes.

e. Do refer practice manual. Cause many things are asked from that.

Get this too: >Download CA Final, IPCC Admit Card May 2014 by ICAI

 Recommended Article:- CA Final All India Rankers Photos, Interviews & Details

That’s it for the tips or tricks for important chapters for CA IPCC and CA Final May 2014 CA examination. Remember… we work with a logo to give you tonic for cracking the CA exams with ease.. Enjoy !!!

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Comments (46)

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  1. plz..tell me some important theory question of costing and fm.

  2. nareshkumar yakkala says:


  3. Rutuja Vadhavkar says:

    thanks alot

  4. Rahul Sharma says:

    thanks lot iam also doing the same thing what u are telling.Lets see what result after the examination.

  5. SWATI SONI says:

    i dont know anything about audit in 2nd group but then also i want to attempt nov 2012 ipcc exam.please tell me the imp topics so that i can clear the exam in two days…..

  6. lalit jain says:

    Your advice is very use full for me

  7. Kankatala.priyanka says:

    Useful information.i like it.thanks.

  8. pooja says:

    Please tell me how to prepare for ipce exams both groups in 2.5months to clear it in 1st attempt?

    • Admin says:

      read our article on how to crack in first attempt. And I will suggest you to read Practice Manuals two to three time completely. And you will 99% pass in first attempt. This thing works… I have seen this happening with my eyes when my friend just followed this and cracked with good marks. Best of luck.

    • veeresh says:

      go ca crackers website all informatoin is given that web site you will follow that website given all imp topics and how much time utlise per subject all informtion is given so u will better go thar website

  9. ch.v.n.manoj says:

    sir, would u please tell some important topics in auditing and how to present that paper to secure 60+ marks?

    • Admin says:

      Write answers neat & clean way, i.e. write only those things which are asked. Write SA no.s. And also follow answer styles as given in Suggested Answers to get exemption in Auditing.

  10. ABDUL RAOOF KM says:

    sir, tell me important theories in FM&COSTING FOR ipcc exam

  11. Pls tell me importnat topics in all papers in pe2 exam may2013

  12. Rutuja zende says:

    pls tell me important topics and theories to get well prepared for may ipcc 2013………..

  13. kanika says:


  14. lalit tiwari says:

    please send me the important theory part of cost and fm which was usually asked in examination.

    • Admin says:

      You should prepare RTPs for at least past three attempt, according to my experience, from those there will be atleast 10-20 marks theory from it…

  15. jagadish says:

    please tell me what is imp question for it and sm paper in may 2013 exam

  16. rahul patel says:

    We want all subjects practice manuals but i just got FR only so plz provide all subjects practice manuals as soon as possible for CA FINAL NOVEMBER 2013 exams…

  17. saloni says:

    Wich practice manuals shud i buy for nov2013 ipcc exam?? I hav books of 2012

  18. Udit Rana says:

    sir IT/SM ke liye maine Dinesh madan purchase ki h ….is it good or i will go for practice manual ….but sir there is problem language given in modules and practice manual is tough
    plz help me sir

  19. Melinda says:

    Dear Sir,
    I want to know that in SM & IT in IPCC, the pattern is last to first to study, why is this so?Is it easier that way?

    Please reply.
    Thank You!

  20. riddhi modi says:

    this is my 3rd attempt so in this i coudn’t be motivate for may-2014 exam so plz suggest me. what i do.

  21. sri ramya says:

    SIR .. i want to do my articles in big four .. so please suggest me the best way to do 2 revisions within 2 months frustrated sir ..but i do love this profession as im from science back groud where i saw there is no quality study like ca .. so i prefer this .. i respect this course alot..

    • sri ramya says:

      i dont want to mug up any subject .but when required i do .. i take alot of time for each sum ..i want to first learn n then go for a revision sir .. please can u help me for the best plan to do so ?

  22. harsha vardhan says:

    its a really boon to the ca students simply fantastic

  23. Madhu Kumar B C says:

    sir, i want to November 2014 IPCC Exam syllabus. Especially Income Tax(Indirect Tax) and Information Technology

  24. rajashree andewad says:

    thanks sir

  25. vandana says:

    Hi, there,

    I read full article, its a amazing… !!! fabulous!!

    But As iam a CMA Final student, Requesting you to PLEASE IF YOU CAN BE ABLE TO PUT Such an important information for CMA’S Please… !!

    Thanks.. you guys doing a GOOD JOB !!!

  26. anirudh wuppu says:

    please update cma final new syllabus june 2014 examinations important quesitions &topics as soon as possible.

  27. Surya says:

  28. rashmi says:

    sir i wnt imp topics of info tech for nov 2014…..

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