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CA Intermediate Study Plan for May 2023 Exams

CA Intermediate Study Plan for May 2023 Exams

As we know, the CA Exam syllabus is prescribed by the ICAI. 

The CA course is divided into three levels: 

  • CA Foundation, 
  • CAIntermediate, and CA Final. 

Every level has different difficulty levels with different subjects and ways of attempting the exam. The CA Foundation curriculum has four subjects similar to what you studied in 11th and 12th grade.

On the other hand, the CA Inter and Final curriculum is lengthy and has eight subjects at each level. Each courses CA syllabus must be completed within a certain period to appear for the exam. 

In May and November, the ICAI CA exams for the Foundation, Intermediate, and Final courses are twice a year.

There are no changes to the Nov 2022 CA curriculum. 

Thus, in this article, you will find CA Inter Study Plan For May 2023 Exams.

CA Intermediate May 2023 Syllabus:

Before discovering the CA Inter Study Plan For 2023, it is essential to understand the syllabus, subjects, and topics for proper ca inter exam preparation.

The CA Inter Exam syllabus carries eight subjects. This CA level is divided into two groups.

A candidate faces four papers in the first group of the exam and four papers in the second group also face four papers. 

To give CA Final Level, CA candidates must clear the intermediate level. As per the CA syllabus ICAI, a student gets an 8-month duration to complete all these subjects.

Syllabus for CA Intermediate Course May 2023

Group 1

Group 2

Paper - 1: Accounting:

This Accounting paper comprises 100 marks. Students must have to secure a 40% mark to clear this exam.

Topics under this module:

  1. Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve-outs.
  2. Framework for Preparation and Presentation of Financial Statements 
  3. Application of Accounting Standards
  4. Company Accounts
  5. Accounting for Special Transactions
  6. Special Type of Accounting
  7. Dissolution of partnership firms including piecemeal distribution of assets; 

The amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

Paper - 5: Advanced Accounting:

This paper consists of 100 marks. Students must have to secure 40% to clear the paper.

Topics under this module:

  1. Application of Accounting Standards. (AS – 7,9,14,18,19,20,24,26,29)
  2. Application of Guidance Notes issued by the ICAI on specific accounting aspects.
  3. Special aspects of Company Accounts.
  4. Reorganization of Companies.
  5. Financial Reporting of Banking, Financial Services, and Insurance.
  6. Valuation of Goodwill.
  7. Consolidated Financial Statements.


 

 

Paper - 2: Business Laws, Ethics, and Communication:

This paper has 2 parts.

One is company law, and another is other laws. These 2 parts carry 50 marks each.

Topics under this module:

  1. Preliminary
  2. Incorporation of Company and Matters Incidental thereto
  3. Prospectus and Allotment of Securities
  4. Share Capital and Debentures
  5. Acceptance of Deposits by companies
  6. Registration of Charges
  7. Management and Administration
  8. Declaration and Payment of Dividend
  9. Accounts of Companies
  10. Audit and Auditors

Note- Sections of the Companies Act, 1956 which are still in force will form part of your syllabus.

SECTION – B    Other Laws

Laws covered under this section –

  1. The Indian Contract Act, 1872
  2. The Negotiable Instruments Act, 1881
  3. The General Clauses Act, 1897
  4. Interpretation of Statutes.

Paper - 6: Auditing and Assurance:

This is paper is 100 marks.

Topics under this module:

  1. Nature, Objective, and Scope of Audit.
    1. Auditing Concepts.
    2. Standard Setting  Process.
    3. Engagement Standards
  2. Audit Strategy, Audit Planning, and Audit Programme.
  3. Audit Documentation and Audit Evidence
  4. Risk Assessment and Internal Control.
  5. Fraud and Responsibilities of an Auditor in this regard.
  6. Audit in an Automated Environment.
  7. Audit Sampling.
  8. Analytical Procedures.
  9. Audit of Items of Financial Statements.
  10. The Company Audit
  11. Audit Report
  12. Audit of Banks
  13. Audit of Different types of Entities. 

Paper - 4: Taxation

This paper is divided into two sections.

One Section: Income tax law - 50 marks 2nd Section: Indirect taxes -  50 marks also.

SECTION – 1  Income Tax

  1. Basic concepts
  2. Residential status and scope of total income
  3. Income which does not form part of the total income
  4. Heads of Income and computation of Income under various heads-
    1. Salaries
    2. Income from House Property
    3. Income from Business and Profession
    4. Capital Gains
    5. Income from other sources
  5. Income of other persons included in assessees total income
  6. Aggregation of Income, Set off or Carry forward and set off of losses.
  7. Deduction from the Gross Total Income
  8. Computation of total income and tax liability of Individuals.
  9. Advance Tax, Tax deduction at source, and Introduction to Tax Collection at Source
  10. Provisions for filing return of Income and Self Assessment.

SECTION – 2nd   Indirect Taxes

Topics covered under this head are-

  1. Concept of indirect taxes
  2. Concept and features of indirect taxes
  3. Principal indirect taxes
  4. Goods and Services Tax (GST) Laws
  5. GST Laws: An introduction including Constitutional aspects
  6. Levy and collection of CGST and IGST
  7. Application of CGST / IGST law
  8. Concept of supply including composite and mixed supplies
  9. Charge of tax
  10. Exemption from tax
  11. Composition levy

iii. Basic concepts of time and value of supply

  1. Input tax credit
  2. Computation of GST liability
  3. Registration

vii. Tax invoice; Credit and Debit Notes; Electronic way bill

viii. Returns

  1. Payment of tax including reverse charge

Paper - 8: Financial Management and Economics for Finance:

This paper also has two sections. 

Section One: Financial Management

Section 2nd: Economics for Finance. 

Both sections carry 100 marks like paper 7.

SECTION – 1:  Financial Management

Topics under this section:

  • Financial Management and Financial Analysis.
    • Introduction to the Financial Management Functions
    • Financial Analysis through Ratios
  • Financing Decisions
    • Sources of Finance
    • Lease Financing
    • Cost of Capital
    • Capital Structure Decisions
    • Leverages
  • Capital Investment and Dividend Decisions
    • Capital Investment Decisions
    • Adjustment of Risk and Uncertainty in Capital Budgeting Decision
    • Dividend Decisions
  • Management of Working Capital

These are the topics that you will study in depth under this section.

SECTION – 2nd  Economics for Finance

Topics under this section:

  1. Determination of National Income
  2. Public Finance
  3. The Money Market
  4. The International Trade

 

The CA intermediate exam consists of 800 total marks. This level of CA is challenging as compared to the CA foundation level.

Therefore, students must pay close attention to this level of exam. 

ICAI CA Intermediate Exam Pattern May 2023:

Particulars

Details

Exam ModePen and paper-based
Type of questionObjective cum subjective
Exam Duration3 hours per paper
Medium of ExamEnglish/ Hindi
Number of PapersEight
Number of Marks100 per paper
Negative MarkingNone

ICAI CA Intermediate Marking Scheme May 2023?

Check the marking scheme and subject-wise marks distribution of each CA Inter paper in the following table.

Papers

Marks Distribution

Group 1
Paper 1: Accounting100

Paper 2: Corporate and Other Law

Part 1: Company Laws

Part 2: Other Laws

100

60

40

Paper 3 Cost and Management Accounting100

Paper 4: Taxation

Part A: Income Tax Law

Part B: Indirect Tax Laws

100

60

40

Group 2:
Paper 5: Advanced Accounting100
Paper 6: Auditing and Assurance100

Paper 7: Enterprise Information System and Strategic Management

Part A: Enterprise Information System

Part B: Strategic Management

100

50

50

Paper 8: Financial Management and Economics for Finance

Part A: Financial Management

Part B: Economics for Finance

100

60

40

In CA Inter, there are 4 papers that have practical or MCQ-based questions. 

These papers are:

  • Corporate Law and Other Laws (Paper-2)
  • Taxation (Paper-4)
  • Auditing and Assurance (Paper-6)
  • Enterprise Information System and Strategic Management (Paper-7)

In these 4 papers, there will be 30 marks MCQ-based questions.

Paper

Comprehension & Knowledge

Application

Paper 1: Accounting5%-15%85%-95%
Paper 2 Part 1: Corporate Laws40%-55%45%-60%
Paper 2 Part 2: Other Laws35%-55%45%-65%
Paper 3 Cost and Management Accounting20%-30%70%-80%
Paper 4A: Taxation- Income Tax Law5%-20%80%-95%
Paper 4B: Taxation- Indirect Tax Laws20%-45%55%-80%
Paper 5: Advanced Accounting30%-55%45%-70%
Paper 6: Auditing and Assurance5%-15%85%-95%
Paper 7A: Enterprise Information System30%-55%45%-70%
Paper 7B: Strategic Management50%-70%30%-50%
Paper 8A: Financial Management20%-30%70%-80%
Paper 8B: Economics for Finance60%-80%20%-40%

Now the questions come after the understanding of the CA Inter Syllabus:

  • What to study for CA Inter May 2023 Exams
  • How to study for the CA Inter Exams of May 2023?
  • When to study for CA Inter May 2023 exams?
  • Is ICAI study material sufficient for ca exam preparation?
  • Which test series is best for CA Exams Practice?

Do not worry, in this article, you will get answers to each & every question regarding the preparation for CA Exams in May 2023.

What to study for CA Inter May 2023 Exams?

Ca inter students, do not get confused with the abundance of study materials accessible online and in bookstores.

If you want to prepare well for the CA Intermediate exams, never skip ICAI Study Materials & Resources like:

  1. Mock test papers
  2. Past year papers
  3. Revision test papers, etc.
     

CA Test Series also provides the best compilers of ca exams study materials and acc to the past year toppers of ca exams, they are sufficient for the students to score good marks. 

CA Test Series is regarded as the Best CA Inter Test Series Provider because:

  • It offers the Highest Quality Test Papers
  • An Instant Doubt Solving Facility.
  • Unseen other than ICAI mat Questions
  • Application-based Qs as per recent ICAI Exams
  • Specific evaluation comments (No general comments)
  • Mistakes discussion with teachers
  • Most experienced team (India s biggest Network of Ex-Examiners)
  • More than 17 top faculties provide our test series to their students
  • All India Ranking out of 10k+ & lot more - May 2022 Results As Proof That Speaks The Quality of Our Mock Test Papers!!

In May 2022, the Ca Test Series reached over 20k+ registrations & also, once again, its CA Test Series With 2 AIR With Rank 1 in CA Final May 2022 & CA Inter May 2022.

The biggest feature of the CA Test Series conducts live mock tests with limited time, which creates an exam-like environment along with a detailed analysis of each question. 

Comparative performance among more than 25K Students with Detailed Analysis Of Each & Every Ques!!

Check out here: How CA Test Series Helping CA Students To Get Success In CA Exams!

How to study for the CA Inter Exams of May 2023?

Study hours: 10-12 hours daily

Important Subjects (Revise Daily): Accounts, Cost accounting, Advance accounting (4 hours practice per day)

Subjects (Revise Weekly): Law, Eco, Sm

Subjects to revise within(15days): Audit, Enterprise information system (Assign the number of hours according to your preparation)

Some tips to speed up your CA Exams Preparation: 

  1. Choose a proper study environment.
  2. Both your sitting chair and the lighting in the space should be pleasant.
  3. Sit upright and at ease while you are studying.
  4. Make sure, there should be no disturbance while you study.
  5. Make organized notes and highlight essential points with markers.
  6. Use the compilers of the updated syllabus as per the ICAI Updates.

When to study for CA Inter May 2023 exams?

Remember Students 

You must be committed to following the study plan. For good preparation of ca inter exams in 2023, students can use this CA Intermediate study schedule.

Additionally, you may read our article: Effective and Practical tips to Clear CA Inter in 1st Attempt - CA Test Series

As you know, exams are in May 2023, so you will have seven months to study for your exams. 

So the goal for each month should be to finish the whole CA intermediate course material provided at ICAI official site!
Let us discover the study plans for CA Inter Exams May 2023 - Month Wise so that it will be easy for you to prepare well for exams.

First Month Study Plan for CA Inter May 2023:

  • Create proper handwritten notes with a proper understanding of the ca inter syllabus. 
  • During the first month of preparation, students try to cover the theoretical portions of all chapters of the CA exams.

Second Month Study Plan for CA Inter May 2023:

  • Continue focusing on the theoretical aspects of the subjects and try to grasp the fundamental principles so that things become easier for you in future studies.
  • As we know, the course syllabus is vast, so you must be consistent in your study to score well in exams.

CA Inter May 2023 -  Third-Month Preparation Strategy

  • Its time for practical problems practice for the entire day. 
  • As we know only the last 5 Months are Left for exams, so you need to finish up the course syllabus in time so that you have enough time to revise & practice.

CA Inter Study Plan - Last 4 Months

  • Its time for doubt-solving, If you have any doubts, consult your mentors or seniors to help you out.
  • Be clear & completely focus on a practical part of the CA intercourse.

5th Month - Study Plan for CA Inter May 2023:

  • Now its time to concentrate on the topic you are efficient at and try to clear up any problems, or dilemmas connected to that subject or question - Make your concepts strong
  • Consult or take guidance from Teachers or your seniors.

6th Month - Study Plan for CA Inter May 2023:

  • Finally, your exams are approaching, so do not rush if you still have work to accomplish on the course. 
  • Maintain your study schedule, and make sure you review the remaining topics.

7th Month - Study Plan for CA Inter May 2023:

  • Now its time to keep your mind & body fit & healthy and Don´t be nervous or overconfident during this time. 
  • Small mistakes or ignorance will vanish your whole preparation, so try to remain calm & stress-free.
  • Follow a focused and consistent study plan and stay confident about your potential during this period.

Last Month CA Inter Exams - Study Plan:

  • Make a schedule that works for you.
  • Do not spend the entire day on the theoretical subject.
  • At least one subject should be prepared for exemption.
  • Make a careful review of your class notes.
  • Stick to one book at a time and put your faith in your tutor.
  • Follow the schedule for each topic in the letter.
  • Make brief notes on the day of the exam to rapidly review critical ideas.

5-Step Full Study Plan For CA Exams May 2023:

Lets have a look at a 5-step full-proof plan for preparing for the CA Inter Exams. 

Step 1: Learn everything there is to know about the CA Inter exam

Step 2: Build a solid foundation

Step 3: Improve Your Skills

Step 4: Work on your answer-writing skills

Step 5: Prepare for the CA Final Exams by taking a practice test

Step 1: Know the ICAI exams well

It is important to have a thorough understanding of ICAI tests before preparing for any exam.

• Read the ICAI Exam Notification carefully to get familiar with the Exam Syllabus, Exam Structure, Exam Time Limit & Eligibility Criteria.

• After that, have a look at the previous years papers and read through them to get an idea of ​​what will be asked in the exam.

• If you dedicate the stipulated time to this activity, you will save a significant amount of time during your preparation!

Step 2: Strengthen your foundation 

You must understand the fundamentals of accounting and law, regardless of your background.

• As a result, read the foundation books thoroughly, which can be obtained free of cost from the official website of ICAI.

• Make sure you read them at least twice.

Step 3: Upgrade Your Knowledge with the ICAI standard books

• You can get complete study material for CA Final, Intermediate, or Foundation from ICAI.ORG. You can get complete study material for CA Final, Intermediate, or Foundation from ICAI.ORG.

• Read the books at least twice, then jot down your handwritten notes to use for answer-writing exercises later!

Step 4:Practice Answer Writing + Revision

In the overall plan of CA Intermediate and Final preparation, answer-writing practice and revision play an important role.

Once you have finished one topic on the study mat, you can start practicing answering questions.

Earlier, it would be a pointless exercise as you would have to rely on books for the content of the answers.

Step 5: Mock-Test-Based Learning Approach

You should start using mock test-based learning techniques three months before the CA final and intermediate exams.

It will make you feel like you are taking the exam.

Once you get used to it it will help you to relax during exam time.

• Take one exam-style mock test at the same time and then check your results.

• Check your weak areas and revise the topics you have forgotten.

Not only will it help you manage your anxiety during the exam, but it will also provide you with excellent exam preparation!

When to study for CA Inter May 2023 exams?

How to divide your entire day for CA Inter Exam Preparation?

If you wish to get ranked in CA inter examinations, it is essential to understand that each minute counts.

You have to put all of your efforts and hard work into the preparation.

Get up early in the morning, at about 4 a.m. By 5 a.m., you should be ready.

This period (from 4:00 a.m. to 6:00 a.m.) is known as Brahma Muhurta, and studies completed during this period are remembered for a long time.

Here is a schedule you can follow during your CA Exam Preparation:

Timings

Activity

5 AM. To 7.00 AM

 

7 AM. to 7.30 AM.

Breakfast Time

7.30 AM to 10.30 AM

Read theory – your mind is always fresh in the early morning

10.30 AM to 11.00 AM

Relaxation Time

11.00 AM to 1 PM.

Do/solve practical problems.

1 PM to 2 PM

Lunch Time

2 PM to 3 PM

Take a short nap

3 PM to 5 PM

Do/solve practical problems.

5 PM to 5.30 PM

Take a break.

5.30 PM to 8 PM

Read theory.

8 PM to 9 PM

Dinner Time

9 PM to 10 PM

Relax Yourself

10 PM to 12 PM

Do/solve practical problems

12 PM to 4 AM

Have a full night of sleep

Is ICAI study material is sufficient for ca exams preparation?

Yes, ICAI study material is enough to crack the ca exams. 

But due to the difficult language, many students find it difficult to clear their concepts. 

So, in that case, we recommend you to subscribe to some best test series and study material prepared by the top CAs faculties that prepare by keeping the ICAI study material in mind.

After analyzing past ca exams toppers reviews, Catestseries.org content, on the other hand, created by 5yrs+ experienced ca mentors with students in mind, is easy to grasp as the language and visual presentation are clear and well presented.

So do not spend your time trying to answer the same questions repeatedly from the ICAI study guide and handbook.

Every question from the ICAI study material and practice manual is included in Ca Inter Notes 2022 and previous attempt questions.

So, you are all set to ace the CA Inter May 2022 Exam with the help of Catestseries.org sample questions and answers.

Check out here: 

Best Test Series for CA Intermediate Exams as per Latest Pattern of CA Exams

Which test series is best for CA Exams Practice?

But we know, students got confused while choosing test series because of a lot of CA Test Series vendors in the market who advertise their test series as the best CA test series, 

So students have a lot of questions about how to choose the best test series for the CA Exam like: 

  • Which test series is better for CA Inter?
  • Will High-Quality CA Inter Test Series Papers be available? 
  • Will CA Inter Test Series Mock Test Papers cover all the Recent Amendments?
  • Will Doubts & Queries be solved by expert Faculty?
  • Will Recent Notes and Amendments & Important Questions be provided along with CA Inter Test Series?

However, here are some things you should look into before paying for any CA test series that make your decision-making process simple & worthy:

  1. Whether test series platforms only give icai mat questions which already been attempted so many times - Check the quality of Mock Test Papers.
  2. Check how the papers are evaluated and whether there is general guidance or Personalised Feedback.
  3. Check how long they are into this test series game: Whether an experienced team or just a startup provider.
  4. Whether they provide 24/7 doubts clearing sessions or just ask the questions, but dont answer them or clear up any doubts.
  5. Check their reviews by students.

CA Inter FAQ - Frequently Asked Questions:

Frequently asked questions of CA Inter Students for the CA Inter Exam have been answered here in this article.

Most common questions related to CA Inter have been answered by the best faculty of the CA Inter Course and rank holders in the CA Inter Exam.

Click Here To Get All Answers To Your CA Inter FAQ Exams Questions

Conclusion: 

Thus, the Most Important Tip For CA Inter Exams:

Revise + Practice MTPs + Evaluate yourself + Revise your week areas known by practice MTPs + Practice + Evaluate = Good Score In CA Exam!

Good Mindset + Good Health + Good Strategies = Good Marks

No matter what, never give up!

Do not panic at any moment. Just stay calm & full of confidence!

Keep up the josh & Just Give Your Best! 

We hope this article will help you in your CA Inter Exams May 2023 Preparation and that you will score well!

Read More: 

Best Recommended CA Inter Books for Nov 2022 Exams

Is test series important for CA Intermediate

ICAI CA Syllabus & Subjects for Foundation, Inter & Final (2022)

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