The CA Intermediate exam is one of the most crucial stages in the journey to becoming a Chartered Accountant. The syllabus, set by the Institute of Chartered Accountants of India (ICAI), covers a wide array of topics across two groups, making thorough preparation essential. Whether you're sitting for the May 2024 or November 2024 exams, following a structured study plan will significantly improve your chances of success.
In this blog, we will outline a comprehensive CA Intermediate study plan, designed to help you cover the entire syllabus efficiently and master the material in time for the exam.
Overview of the CA Intermediate Exam
The CA Intermediate exam is divided into two groups with a total of eight papers:
Group I:
Accounting
Corporate and Other Laws
Cost and Management Accounting
Taxation
Group II:
Advanced Accounting
Auditing and Assurance
Enterprise Information Systems & Strategic Management
Financial Management & Economics for Finance
Each paper requires a mix of practical problem-solving and conceptual knowledge. Students need to dedicate substantial time to each subject and balance their preparation between both theory and practical subjects.
CA Intermediate Study Plan May 2024
To ensure success, you should aim to study for 6-8 hours daily and complete the syllabus within four to five months, leaving the remaining time for revision and mock tests. Below is a detailed month-by-month study plan.
Type of Questions | Name of Subjects | Time to be Invested |
30% MCQ 70% Subjective | Corporate & Other Laws | 108 Hrs |
30% MCQ 70% Subjective | Taxation | 140 Hrs |
Practical | Advanced Accounting | 118 Hrs |
Practical | Cost and Management Accounting | 103 Hrs |
30% MCQ 70% Subjective | Auditing & Ethics | 86 Hrs |
30% MCQ 70% Subjective | Financial Management and Strategic Management | 89 Hrs 35 Hrs |
First Month: Building a Strong Foundation
In the first month, focus on building a solid understanding of the core concepts for each subject. This phase is all about laying the groundwork.
Accounting: Spend 2 hours daily understanding basic principles and accounting standards.
Corporate and Other Laws: Focus on the Companies Act, making detailed notes of important sections and provisions.
Cost and Management Accounting: Start with costing techniques like Marginal Costing and Standard Costing.
Taxation: Learn the basic concepts of Income Tax and GST. Dedicate 1.5 hours daily to building a strong foundation in direct taxes.
Second Month: In-Depth Study
In the second month, deepen your understanding of each subject. It’s important to consistently revise while moving forward with new topics.
Advanced Accounting: Tackle complex topics like Consolidation of Financial Statements and Amalgamation.
Cost and Management Accounting: Continue with process costing, contract costing, and other advanced topics.
Taxation: Dedicate 2 hours daily to practicing numerical problems on Income Tax and GST.
Third Month: Practice and Reinforcement
The third month is where you start practicing practical problems and past exam papers to reinforce your knowledge.
Accounting: Start solving ICAI’s past exam papers. Dedicate 3 hours daily to practicing numerical problems.
Corporate and Other Laws: Revise all provisions and practice writing detailed answers for case studies.
Taxation: Focus on GST compliance and more complex direct tax scenarios.
Fourth Month: Focus on Mock Tests and Timed Practice
In this month, it’s essential to take mock tests and time yourself to get used to the exam conditions.
Group I: Take a full-length mock test every week and review your answers in detail.
Group II: Dedicate time to solving case-based questions in subjects like Financial Management and Strategic Management.
Fifth and Sixth Months: Full Revision
The final months should be dedicated entirely to revision. Spend your time revising key topics and concepts. Revise difficult chapters first, then move on to easier subjects to build confidence.
Full Study Plan for CA Intermediate Exams May 2024 in steps
Step 1: Understand the Exam Structure
Go through the CA exam notification and understand the structure, syllabus, and eligibility criteria.
Look at past years' papers to get familiar with the type of questions that are asked.
Step 2: Build Strong Basics
Review foundation-level materials to strengthen your basics in subjects like Accounting and Law.
Go through ICAI’s standard study materials and make detailed handwritten notes.
Step 3: Practice Answer Writing
Once you’ve studied a topic, immediately begin answering related questions.
Writing out answers will help you retain more information and improve your answer-writing speed for the exam.
Step 4: Mock Tests and Review
Three months before the exam, switch to a mock test-based approach.
Take full-length tests under timed conditions to simulate the exam environment.
Step 5: Revise and Practice
Dedicate your last month to revision. Review your notes, take more mock tests, and practice exam scenarios to boost confidence.
Books for CA Intermediate Exam Preparation:
1. CA Intermediate Study Material by ICAI
Why It's Essential: This is the official study material provided by ICAI and covers the syllabus comprehensively for both groups. It’s highly recommended for students to follow the ICAI modules as they are aligned with the exam pattern.
Best for: All subjects, with a focus on conceptual clarity.
2. Advanced Accounting by MP Vijay Kumar
Why It's Essential: This book is excellent for understanding Advanced Accounting concepts. It breaks down complicated topics like consolidation and amalgamation into simple, easy-to-understand language.
Best for: Students who need extra support in Group II - Advanced Accounting.
3. Taxation (Income Tax & GST) by T.N. Manoharan
Why It's Essential: A popular choice among CA students, this book provides in-depth coverage of Taxation, with practical problems and case studies. It also focuses on GST and Income Tax, making it essential for the Taxation paper.
Best for: Both beginners and students revising key concepts in Taxation.
4. Cost and Management Accounting by P.C. Tulsian
Why It's Essential: This book simplifies complicated topics in Costing and Management Accounting with a practical approach. The numerous problems and solutions included in this book help students to practice extensively.
Best for: Conceptual clarity in Cost and Management Accounting and practicing numerical problems.
5. Auditing and Assurance by Surbhi Bansal
Why It's Essential: This book provides a detailed understanding of Auditing standards and assurance practices. Known for its concise notes and question bank, it helps students grasp the subject quickly.
Best for: Students preparing for the Auditing & Assurance paper in Group II.
Why Choose iProledge Academy?
At iProledge Academy, we provide a structured approach to help you ace your CA Intermediate exams:
Comprehensive Study Material: Our materials are designed to cover both theory and practical problems comprehensively.
Mock Tests and Feedback: We provide regular mock tests with detailed feedback to ensure continuous improvement.
Experienced Faculty: Our faculty members are industry experts who guide you through each subject, ensuring clarity in complex topics.
Personalized Attention: We focus on one-on-one mentoring to address each student’s weak areas.
Conclusion: Your Path to Success in the CA Intermediate Exam
With a well-organized study plan and expert guidance from iProledge Academy, you’ll be fully prepared to ace your CA Intermediate exam. Start early, remain consistent, and follow a structured revision and practice routine to ensure success.
Enroll at iProledge Academy today and take your first step toward becoming a Chartered Accountant!
FAQs on CA Intermediate Study Plan
How many hours should I study for CA Intermediate?
It’s recommended to study for 6-8 hours daily, depending on your understanding and comfort with the subjects.
What is the ideal time to complete the syllabus for CA Intermediate?
The syllabus should be completed 4-5 months before the exam, leaving time for revision and mock tests.
How important are mock tests for CA Intermediate preparation?
Mock tests are crucial as they help in time management, identifying weak areas, and reducing exam anxiety.
Can I clear CA Intermediate in the first attempt?
With a structured study plan, regular revision, and guidance from iProledge Academy, clearing the exam on the first attempt is achievable.
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