Learn from mistakes of a small town IPCC student

As i m also from small town so i m posting this article written by a sincere student.
Hi guys! I cleared my IPCC GROUP 1 in May 2011 in first attempt. In today’s scenario, it may not be a big deal but still, yes, it is a big deal for an average Guajarati medium girl who belongs to a small town of Gujarat named Bharuch having passed std.12 B.com. In Guajarati medium in May 2010 & CPT in June 2010 with a score 136.



Everything was new for me. New place, new house, new people, new class, new teachers, new friends & most importantly the high-tech IPCC course! I was totally shocked when I saw those board books for the first time. Secondly it was very much difficult for me to stay away from my parents. It is called homesickness & many of us, leaving their hometowns for further studies have definitely faced it.



Today I want to share some of my mistakes with you.



1. SELECTION OF COACHING CLASS:



Please never be misguided by advertisements wherein rankers are displayed as stars of classes’. Most of us are average students. Rankers are far & few. Such coaching classes concentrate mainly on rankers; take the credit, which may not be necessarily theirs. We the average students may remain neglected in such classes. So be careful in your selection.



2. WHETHER TO APPEAR FOR GROUP 1 OR BOTH?



If you feel that you are able to go for only one group, then go for it. Never feel ashamed for it. Don’t hesitate. it is batter to go for Group 1 & get cleared rather than to appear for both the groups, following “ The gheta mentality” & then be butchered by ICAI .But do your best to perform the best in Group1 & have clear concepts by working hard for Group 1.



3. WHAT TO READ, FROM WHERE TO READ?



As class started we have been given lots of reference books for each and every subject. I was terribly confused about “from WHERE to study”. After spending my 3 to 4 months I realized my mistake & realized that it is better to read from board books and practice manual provided by institute.



*for A/Cs & costing FM



Board book & practice manual are fare enough. What counts are our concepts. If it is clear, we are able to handle any question.



Practice manual is type of compilation only, covering all the past paper questions.



*for Law, Ethics, Communication



I should have concentrated on this subject from very beginning but I didn’t, more true for Guajarati medium students like me as it is more descriptive requiring good command in English. Secondly, never ignore Ethics & communication. 50% or more questions are being asked from these two topics.



Here Padhuka is a proper book where all the information is given in Q/A format.



*for taxation



It was my biggest mistake, where I used to study from such a difficult reference book - V. K. Singhania. Then I realized that Padhuka was batter, where everything is given in Q/A & table format with inbuilt compilation.



4. ORIENTATION & ITT:



This should be completed in earlier stage of study as soon as possible. It takes a lot time & change and affect our reading schedule drastically.



5. B.COM:



I don’t know really this is a mistake. but I am not a regular B.com student, but I have joined B.com(A&F) distance learning course from IGNOU under special arrangement between ICAI & IGNOU In august 2010.



I submitted assignments before march 2011 & now I shall appear in 7 papers only instead of total 36 papers in Dec.2011.(refer ICAI for more details.). So I had a luxury of concentrating only on IPCC.



I have made a lot of mistakes during those nine months. I’ll use them as my stepping stones towards my remaining path to become CA someday..



These are the mistakes of an average student.

How I passed IPCC(both groups) in 60 days

My name is Pai. Abhijit Pai.
.I have passed both groups of my November 2010 IPCE in my first attempt.


I studied for a period of 60 days in a systematic way and managed to cover all 7 subjects in a comprehensive manner. In fact I was too lazy and stubborn to study for more time than that. Actually I believe that laziness is an underestimated superpower with which you can achieve your goals in the easiest and the shortest possible manner.


All I believe that in the study period you should keep yourself happy, motivated, and full of enthusiasm of getting to learn something new everyday and not get bogged by the sheer extent of this voluminous IPCC. And it is absolutely okay if you ,once in a while, daydream about passing the exams with flying colors. Cause everything takes place twice, and the first place is inside your head . To do something ,you first have to think about doing it.


I opted for self study for I frankly believe that spoon feeding done by the coaching classes diminish our ability to analyse, interpret, and most importantly think in an intellectual way.(It is like to constantly allow someone else bombard our brain with their interpretation of the ca topics and in the process killing our creativity and imagination).


My study plan was to study for a minimum of 10 hours from day one.(I know it is much more easy to type this than to actually do it). I also managed to watch 2 episode of 'friends' and 'two and a half men' each everyday.(It may sound lame but this is my way of rewarding myself for 5 two hour study session everyday).Also in the morning, I went for a walk for 15 minutes daily to some fresh O2.And it is very very important to get atleast 7-8 hours of sleep per day.


My schedule was as follows:


A/c = 9days*10hrs=90hrs


Costing=6days*10hrs=60hrs


FM=6days*10hrs=60hrs


Income Tax=10days*10 hrs=100hrs


ST,VAT=2days*10hrs=20hrs


Adv a/c=9days*10hrs=90hrs


Law=7days*10hrs=70hrs


Audit=6days*10hrs=60hrs


IT=3days*10hrs=30 hrs


SM=2days*10hrs=20hrs


You can study these subjects in any order. Preferably study the subject of the first exam in the end. I am not saying that this is a foolproof schedule but all I know that it worked for me. The books used and the marks obtained by me are as follows:


A/c (57 marks) - Padhuka+Rawat


Costing and FM (52marks)- Padhuka


Law(47 marks)- Munish Bhandari


Taxation(63 marks)- Manoharan for Income tax and ICAI module for st,vat


Group 1 total= 219marks


Adv A/c(62marks)- Padhukas


Audit(60marks)- Surbhi Bansal


IT and SM(49 marks) - ICAI Compilation for IT and padhukas for SM


Group 2 total= 171 marks


Grand total = 390 marks


The most important thing to remember is that the value(cost) of even a single day can be as much as six months(that is only if you don't pass).So try to study as hard as possible in this time frame of sixty days and don't waste even a single day for any reason. And since I managed to pass my November 2010 IPCC by following the above mentioned schedule, then i sincerely believe that any other person on the face of this earth will also be able to pass their forthcoming IPCC/PCC examinations.


Before starting to write the exam, while seated in the exam hall, DO NOT engage yourself in chit chat and DO breathing for atleast 10 minutes to keep your mind cool. In all the exams try to attempt between 90-100 marks. Dont waste your time reading the paper when you get it. Just attack the first question and read the rest only when you get to them.


Also if you like reading books,I would suggest you to read some general self help books like The secret, Think and grow rich, Zen and the art of happiness, The law of attraction etc which play an important part in increasing our self confidence and instill a sound belief in us that anything is achievable if we sincerely believe that it can be achieved.


Also even before you pass your exams, gather information about the ca final course, the subjects, refreshers to be bought etc.Also visualize the day of the results everyday just before sleeping and after waking up in grand detail.(Think about you passing the IPCE, yours parents are happy, you sharing the good news with your friends etc) In short, even before you actually pass your IPCC, at least on some level you should already be a CA Final student.


All the very best to every IPCC/PCC student in his/her forthcoming examination


My other achievements


CBSE 10th - 89%


CBSE12th - 91%


If anyone needs any help, feel free to mail me at pai.abhijit.pai@gmail.com

IPCC 2011May

Download Here