Understand CA Inter Advanced Accounting Course

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Welcome to the beginning of your CA Intermediate journey! After successfully clearing your CA Foundation, it’s time to level up. CA Rohit Sethi (IGP Institute’s Faculty) Paper 1 – Advanced Accounting, is here to guide you through every concept with clarity, strategy, and purpose.

Let’s dive into the first class overview and understand the structure, syllabus, and scope of this subject in detail.

Table of Contents

What is Paper 1 – Advanced Accounting?

Paper 1 is your first paper in CA Inter and holds a weightage of 100 marks. It is divided into two parts:

Part A – MCQs: 30 Marks
Part B – Descriptive Questions: 70 Marks

Important Note: There is no negative marking for MCQs.

MCQ Section (30 Marks)

15 questions will be asked
Each question carries 2 marks
MCQs will be case-study based, testing your conceptual clarity
Though you just have to tick or circle the answer, don’t take them lightly—conceptual depth is required

Descriptive Section (70 Marks)

You will get 6 questions in total
Q1 is compulsory
Out of the remaining 5 questions (Q2–Q6), you need to attempt any 4
Each question carries 14 marks
Bifurcation of marks may vary:
- 14 marks – single question
- 7 + 7 marks – two parts
- 10 + 4 marks – combination

Syllabus Overview: Only 3 Major Topics

Yes, you read that right! Just three core areas form the backbone of Advanced Accounting:

1. Accounting Standards (AS)

You need to cover 27 Accounting Standards
Though there are AS 1 to AS 29, AS 6 and AS 8 are deleted
These standards define the guidelines, principles, and procedures for preparing accurate and lawful financial statements

Example:

If an error from the previous financial year (e.g., FY 22-23) is identified in the current year (FY 23-24), is it allowed to rectify it now?

Yes – as per Accounting Standard 5 (AS 5), you can rectify prior period items in the current year’s accounts.

2. Company Accounts

Covers preparation and presentation of final accounts of companies as per Schedule III of the Companies Act.

Chapters include:

Final Accounts (with format)
Buyback of Shares
Internal Reconstruction

These are not repetitions of what you studied in Foundation. You’ll go deeper into reporting and compliance aspects.

3. Accounting for Special Transactions

Although not explicitly listed in the overview, these topics typically include:

Partnership Accounting (Advanced)
Banking Companies
Insurance Companies
Consolidation
Amalgamation
(Note: Mentioned if included in ICAI module)

From Accounting to Reporting – What’s the Shift?

At Foundation, you focused on:

Journal entries
Ledgers
Trial balance
Final accounts for proprietorships and partnerships

Now in Advanced Accounting, you move towards:

Interpretation and presentation of financial data
Compliance with accounting standards
Understanding the rationale behind entries and adjustments
How these numbers will be used by auditors, shareholders, and analysts

You’re no longer just preparing books—you’re learning how to present financial truth to stakeholders.

Practical Examples to Reinforce Basics

Rohit Sethi sir explains that if you’ve forgotten Foundation concepts like rules of debit and credit or classification of accounts—don’t worry.

You just need to brush up on:

Traditional Approach: Real, Personal, Nominal
Modern Approach: Asset, Liability, Capital, Revenue, Expense
Nature of accounts: Debit/Credit rules
These fundamentals will still apply, but at a deeper, application-oriented level.

Why Starting with the Syllabus Matters

Sir explains that starting blindly with Chapter 1 is like leaving your house without knowing the destination. Before you begin, you must understand:

Where you are headed
What’s expected
How to plan your preparation

That’s why this class begins with a complete roadmap—so your preparation is directional, not random.

Time Management & Target Completion

Rohit Sethi Sir targets to complete the syllabus in under 90 lectures, covering every topic with real-world application and practical insight.

“Don’t just prepare to write the exam—prepare to be a Chartered Accountant.”

Read Also: ICAI CA Inter Costing (CMA) Books PDF

Final Thoughts

The journey from Foundation to Intermediate is not just a step up in difficulty—it’s a transformation in thinking, application, and responsibility.

Through this course, you will not just learn how to account, but how to analyze, report, and ensure compliance—all of which form the foundation of a successful CA.