The following steps can make you to pass IPCC group 1 even if you prepare in last month.
· Prepare small chapters like Profit or loss prior incorporation, average due date etc you definitely get 10 marks out of them.
· Accounting Standards form 20 – 30 marks of your question paper.
· Partnership and Amalgamation (Prepare any one of them if you cant prepare both).
· Prepare Business Laws first as they are less in no. of pages to read.
· Go for Ethics if you complete with business laws.
· Next communications.
· And finally Company law (be well in basics of company law).
Costing and Fm
· Prepare costing first as fm questions are difficult to understand some times.
· Labour, overheads, materials 3 important topics of costing
· Easy chapter time value of money.
· Service tax 25 marks & vat 25 marks hardly 100 pages.
· Next go for basics of IT
· Next Income frm Salaries
· Income frm House property
· Next go directly to clubbing and carry forward of income.
· Set off and carry forward of losses
· Income from other sources
· Next deductions.