CA IPCC Important Topics Nov 2017 (by ICAI TOPPER)

CA IPCC Important Topics (IPCC Important Questions and Guess Chapters) Expected Questions Nov 2017 Exams are provided for Group 1 & Group 2. These Important topics and Expected Questions for CA IPCC are prepared based on inputs from All India Topper and Rankers, for theory subjects and Important Chapters and Expected Questions for IPCC are provided for Practical subjects. The Important topics we provide here are prepared based on statistical analysis. Merge these topics into IPCC Study Plan prepared by CA IPCC Ranker to score high marks.

In This Post we have listed out CA IPCC Important Chapters in Accounts, Law Important Questions and Expected Questions, Costing FM Important Chapters, Tax Important Topics and Expected Questions in Direct Tax and Indirect Tax, Auditing Important Topics, Advanced Accounting Important Chapters for CA IPCC and finally IT SM most important questions and Expected Questions for CA IPCC exam, along with marks weightage.

These IPCC Important Topics will cover at least 50% of the total syllabus. Students must note that, these important topics are to be given order of importance while studying for exams and we recommend not to leave out any topics.

Accounts – IPCC Important Topics Nov 2017 Group 1

Topic Weightage
AS 10 (Theory) 5 Marks
AS 9:Revenue Recognition 5 Marks
Partnership Accounts 16 Marks
Cash Flow Statement 4 Marks
Investment Accounts 8 Marks
Average Due Date 4 Marks
Hire Purchase 4 Marks
AS 2: Valuation of Inventories 4 Marks

Also See | Download 50+ Accounts Notes for Free

Company Law – IPCC Important Topics Nov 2017 Group 1

Topic Weightage
Name Clause of MOA 6 Marks
One Person Company 6 Marks
Public Financial Institutions 5 Marks
Alteration of Articles 6 Marks
Misstatement in Prospectus 6 Marks
Acceptance of Deposits 8 Marks
Debentures 6 Marks
Further Issue of Share Capital 8 Marks
Private Placement of Shares 6 Marks
Alteration of Share Capital 5 Marks
Debenture Trustee 5 Marks
Register of Members 4 Marks
Tribunal Powers for Meeting 4 Marks
Minutes Book 4 Marks

Also See | CA IPCC 20+ Law Ethics Communication Notes Download

Ethics – IPCC Important Topics Nov 2017 Group 1

Topic Weightage
Sources of Ethical Standards 5 Marks
Benefits of Business Ethics 4 Marks
7 Social Sins 4 Marks
Corporate Governance Measures 5 Marks
Caux Round Table, AA1000 4 Marks
CSR Policies 4 Marks
Harassment at Workplace 4 Marks
Guidelines for Managing Ethics at Workplace 4 Marks
Factors influencing ethical behavior at work 5 Marks
Green Accounting 4 Marks
Eco Friendly business practices 5 Marks
Parameters of Competition Law 5 Marks
Ethical Conflict Resolution by Finance Professional 4 Marks
How to Create an Ethical Environment in a Company 4 Marks
Fundamental Principles relating to Ethics 5 Marks

Costing FM – IPCC Important Topics Nov 2017 Group 1

The trick to score good marks in Costing and Financial Management paper is that, you need to practice as many as problems on book. Toppers have specifically stated that, Practice Manual is the best book to prepare Costing and FM.

Spend more time on high scoring chapters like Marginal Costing and Overheads.

Topic Weightage
Overheads 8 Marks
Marginal Costing 8 Marks
Contract Costing 8 Marks
Materials 5 Marks
Labour Theory 4 Marks
Investment Decisions 8 Marks
Financial Risk 8 Marks
Ratios 5 Marks
Funds Flow 8 Marks

Also See | Costing FM Notes PDF CA IPCC Theory Notes

Tax – IPCC Important Topics Nov 2017 Group 1

Tax is a very tricky paper in the entire first group of IPCC. It is also one of the most time consuming paper during exam preparation. Students are recommended to first concentrate on Indirect Taxes portion, as it a high scoring part with very less preparation time. CA IPCC 40+ Taxation Notes Nov 2017 Download PDF

Start with Central Excise and then move on to VAT. We would recommend ICAI Practice Manual for this.

In the Direct Taxes part, start with Salaries chapter and then study Residential Status and Scope of Total Income. Then move on to Income from House Property and then Capital Gains.

Important Auditing Standards

SA 230 Audit Documentation
SA 330 Auditor’s Response to Risks
SA 450 Evaluation of Misstatements
SA 505 External Confirmations
SA 520 Analytical Procedures
SA 610 Using Internal Auditors work
SA 710 Comparative Information

Unlike Tax and Law where Section Numbers are not mandatory, In Auditing, You have to quote the Auditing Standard Number.

Not Quoting the AS or writing wrong AS Number will award you ZERO Marks, even though your answer is well written. However, Quoting Section Numbers in chapters like CA-I and CA-II is not required.

Read these topics throughly from Nov 2017 RTP : Fraud Reporting Sec 143(12), Appointment of Cost Auditor, Cost Audit Rules Non-Applicability and Voluntary Revision of Financial Statements.

Normaly, ICAI Prepares 3 Sets of Question Papers for Each Exam, out of which one is selected just 3 hours before the exam. Two sets does not cover any amendments, while One Set will cover all recent amendments.

The evaluation or marks for questions from chapters like Company Audit I, Internal Control will be very tough. For chapters like Special Audits, Company Audit-II it will be lenient.

Students should understand that, it is not recommended to skip topics and read only few important ones. Try to cover entire syllabus and that’s what ICAI expects from you and even quesion papers are based on that.

For ones who have already completed one revision. Below, I have provided list of Practice Manual Questions from first Five Chapters, that one should read twice. These are not the questions that are going to come in the exam, rather the ones which are generally ignored and might be tested sometimes.

CH 1 : Nature of Auditing
Q3 – Conditions that increase Risk of Fraud
Q5 – SA 560
Q9(A) – M/s Fortune
10(b) Short Note on Going Concern(4M)
Q12 – Audit Vs Investigation
Q19(d) – Corresponding Figures
20(b) – Self Revealing Errors
Q22(a) and Q22(C)
Q23(C) – Professional Skepticism
Q24 – Defalcation of Cash with Examples

CH 2 : Basic Concepts in Auditing
Q3(iii) – Principles Audit Evidence
Q4 – Advantages of Audit Working Papers
Q11 – Acocunting Estimates SA 540
Q14 – External Confirmation useful
Q21 – Sufficient Appropriate AE
Q23 – Inquiry Audit Evidence

CH 3 : Preparation for an Audit
Q3(a) – Audit Note Book
Q6 – Medical Council of India
Q13 – Branch Auditor photocopy
Q14 – Surprise Check
Q20 – AAS Ltd, Health Zone
Q26(a) & (B) – PQR Ltd
Q29(a) – Stratified Sampling
Q31 – New Engagement Letter
Q33 – Surprise Checks

CH 4 : Internal Control
Q2 – Examination in Depth
Q8 – Audit Trail
Q9 – Service Bureau
Q12 – Independence of Internal Auditor
Q17 – Statutory Vs Internal Auditor

CH 5 : Vouching
Q1(b) – Borrowings from Banks
Q3(c) & (d) – Capital Subsidy, Tax
Q6(b) – Trademarks
Q18 – Premium Insurance Car
Q19 – All Four
Q22(a) – Sale of Investments
Q27(a) – Advertisement
Q28(a) – Insurance Claim
Q31(a) – Production Incentive
Q32 – XYZ Ltd
Q40 –  a to e
Q45 – Janta Ltd

Information Technology (IT)  Imp Topics Nov 2017 – Group 2

Ch. Topic Marks
1 Business Process Re-engineering 5 Marks
1 Organisational Vs Operational Processes 4 Marks
1 Business Process Automation 5 Marks
2 Risks of IT 4 Marks
2 RISC Vs CISC 5 Marks
2 Relational Vs Network Database Model 4 Marks
2 Functions of an Operating System 5 Marks
3 LAN Vs WAN 4 Marks
3 Star Vs Ring Networks 4 Marks
3 Network Interface Card, Modem, Bridge, Router 4 Marks
3 N-Tier Architecture 5 Marks
3 OSI Model 6 Marks
3 Network Vulnerability 4 Marks
3 Firewall and its techniques 5 Marks
3 Five Rules of Extranet 4 Marks
3 Benefits and Risks of E-Commerce 5 Marks
4 Office Automation Systems 4 Marks
4 Management Information Systems 5 Marks
4 Customer Relationship Management 4 Marks
4 Expert Systems 4 Marks
5 Types of Business Applications 4 Marks
5 BPA Controls 5 Marks
5 Grid Computing 4 Marks

Strategic Management Imp Topics Nov 2017 – Group 2

While preparing for Strategic Management Syllabus, students are advised to learn the practical aspects of the syllabus. Entire SM Question paper will be based on practical examples. Free IT SM Notes for IPCC Students

The first 2 chapters of SM contain only theory questions. From 3rd chapter, entire syllabus has practical importance and all questions are example based. Out of all the syllabus, Chapters 4 and 6 are very important.

For Strategic Management, Practice Manual is recommended for exam preparation as most of the questions are directly asked from this book only.

Ch. Topic Marks
1 Demographic Environment 4 Marks
1 PESTLE Analysis 5 Marks
1 Ethnic Mix 4 Marks
1 Porter 5 Forces Model 5 Marks
1 Globalisation 5 Marks
2 Mission Vs Vision 4 Marks
2 Functions of an Operating System 5 Marks
2 Benefits of Corporate Strategy 4 Marks
2 SWOT Analysis 4 Marks
3 Triggers of Change 5 Marks
3 Strategic Analysis 5 Marks
3 General Electric Model 5 Marks
3 Portfolio Analysis 4 Marks
4 Cost Leadership Vs Differentiation Strategies 5 Marks
4 Divestment Strategy 4 Marks
4 Turnaround Strategy 5 Marks
5 Marketing Mix 5 Marks
5 Production Strategy Formulation 5 Marks
5 R&D Strategy 4 Marks
6 Issues in Strategy Implementation 5 Marks
6 SBU Structure and Core Competence 4 Marks
6 Value Chain and Linkages 5 Marks
6 Leadership Role in Strategy Implementation 4 Marks
7 Total Quality Management 5 Marks
7 DMAIC Vs DMADV 5 Marks
7 TQM Guidelines 4 Marks