Last-Minute Revision Strategy for CA Inter CMA Exam by CA Ashish Kalra Sir

Greetings, CA Inter Champions!

I hope you are all in great spirits and ready to ace your upcoming exams. As many of you prepare for your Cost and Management Accounting (CMA or Costing) paper for CA Inter Group 2, it’s important to have a solid last-minute revision strategy. This time, I’ll guide you through the steps you can take to effectively revise Costing in the limited time you have, ensuring you are confident and well-prepared for the exam.

Key Highlights from CA Ashish Kalra’s Session

Important Chapters (Category A)

To maximize your preparation, start with Category A chapters. These chapters are high-weighted, and focusing on them will give you a strong grasp of the essential concepts.

1. Employee Cost & Direct Expenses
2. Overheads
3. Activity Based Costing
4. Cost Sheet
5. Process Costing
6. Joint Product and By-product
7. Service Costing
8. Standard Costing
9. Marginal Costing

These chapters carry approximately 70 marks. Since the paper is primarily practical in nature, prioritize these topics as they will form the bulk of your exam.

Step-by-Step Revision Plan

Day 1 Evening (16-01-2025)

• 7:30 PM to 10:30 PM: Begin your revision with the Category A chapters (Cost Sheet, Service Costing, Standard Costing, Process Costing, Joint Products & By Products, and Activity Based Costing). CA Ashish Kalra has provided a special 3-hour revision session on the IGP Live App. This session will help you quickly brush up on the key practical concepts. If you are a current or past student even those who are never take classes from IGP, you can access this via the app by applying the CMA100 code.
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• 10:30 PM to 11:00 PM: Take a short break. Relax and clear your mind before moving on to the next round of revision.
• 11:00 PM to 12:00 AM: Continue with a 1-hour session focusing on Marginal Costing and Budgetary Control. These are also high-weightage topics and can be completed quickly.

Day 2 Morning (17-01-2025)

• 7:30 AM to 11:00 AM: Start your day early. Revise the remaining Category A chapters such as Employee Cost, Overheads, and Material Cost of CA Inter Cost & Management Accounting. Ensure you complete these topics by noon.
• 11:00 AM to 11:30 AM: Take a 30-minute breakfast break and refresh yourself.

Afternoon Study Session (Post-break)

• 11:30 AM to 2:00 PM: Continue revising theory chapters like Cost Accounting System, Job Costing, Unit & Batch Costing, Introduction to CMA and Reconciliation. These topics are comparatively less frequent but still important. You can use the pocketbook for a quick revision of these fundamentals.
• 2:00 PM to 2:30 PM: Take a lunch break and allow yourself to relax. Rest is essential to maintain focus and energy.
• 2:30 PM to 5:00 PM: Complete your revision of RTP (Revision Test Papers) from YouTube Video (already on IGP YouTube Channel and ensure that you are familiar with the pattern of questions that have been set in recent exams.

Practical Tips for the Exam

• Read the Paper Thoroughly: Once you receive your question paper, spend the first 45 minutes reading the questions carefully and planning your answers. Prioritize the questions you find easiest and attempt those first.
• MCQs: Aim to complete the 30-mark MCQs within 45 minutes. These are quick, high-scoring sections, so focus on them first.
• Time Management: Allocate sufficient time for each section and try to complete all practical questions before tackling theory.

Special Tools Available on IGP Live App

• 3-hour Revision Sessions: Use the IGP Live App for comprehensive 3-hour revision sessions that cover all important topics for CMA.
• Recorded Lectures: For those of you who prefer studying at your own pace, the recorded lectures allow you to increase playback speed and tailor your study sessions accordingly.

Final Words of Motivation

As CA Kalra Sir says, “If you give your best, you will get the best results.” Consistency, confidence, and correct execution are key. Remember, it’s not just about studying hard but studying smart. Focus on your strengths, work through the areas where you need more clarity, and approach your exam with a positive mindset.

Best wishes to all the CA Inter students! You’ve got this!