ICAI CA IPCC Paper 5 | Advanced Accounting

Paper 5 :

Advanced Accounting

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Advanced Accounting

Series 1

01 Framework for Preparation and Presentation of Financial Statements

2 Lectures Know More

03 Advanced Issues in Partnership Accounts

10 Lectures Know More

05 Financial Statements of Insurance Companies

5 Lectures Know More

06 Financial Statements of Banking Companies

9 Lectures Know More

08 Accounting for Branches including Foreign Branches

9 Lectures Know More

02 Accounting Standards

22 Lectures Know More

04 Company Accounts

35 Lectures Know More

06 Internal Reconstruction

2 Lectures Know More

07 Departmental Accounts

3 Lectures Know More

About Advanced Accounting

Accounting is covered in subjects at the CA intermediate level. The purpose is to enhance the importance of understanding various concepts in depth for a student perusing the CA course. The CA Intermediate advanced accounting has only 7 chapters covering a wide range of syllabus. All the chapters are based on either the Companies Act or laws governing such entities or Accounting standards/guidance notes issued by ICAI. To add on to the accounting knowledge acquired in CA foundation and group I of CA Inter. To enrich students with standard chapters in company accounts like amalgamation & Consolidation of companies so that they are well prepared to experience this practically. To provide basic accounting knowledge of other entities.

The topics covered at CA Intermediate Level in Advanced Accounting

Accounting Standards – 7,9,14,18,19,20,24,26 & 29 & Guidance notes
Company Accounts – ESOP, buy back, Equity shares with differential rights, underwriting of shares/debentures
Financial reporting of Banking, Insurance & Non- Banking Finance companies and Mutual funds
Amalgamation, Consolidation & liquidation of companies
Valuation of goodwill

The best approach to study CA Intermediate Advanced Accounting

Since both Amalgamation and Consolidation are there in the ICAI syllabus, practice problems with time in mind to avoid mismanagement of time in exams. Write mock tests given by ICAI
Show detailed steps through working notes; give proper reference to working notes
Normally, stepwise marking approach is followed, so do not worry if the balance sheet does not tally; based on your time allocation, keep moving to the next question
Solve the problems on your own; do not see the answer till end. This helps you to identify your strengths and weakness so that you can work on them
Never skip easy chapters like underwriting, Banking & Insurance company accounting
In case of Insurance companies and Banking companies, learn the schedule numbers properly

Faculty

CA Chinmaya Hegde

CA Srikanth M S

Resources

Question Paper May 2019

Question Paper Nov 2019

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