CA Inter MCQ Booklet Sep 26 – Advanced Accounting MCQs by Aakash Kandoi

The booklet follows the CA Inter Advanced Accounting syllabus in the order of the index. It starts with Introduction to AS (9 MCQs), Applicability of AS (5) and the Framework (9). It then moves through every standard in the paper: AS 1, AS 2 Inventories (12 MCQs plus a case study), AS 4, AS 5, AS 7 Construction Contracts, AS 9, AS 10, AS 12 Government Grants (12 MCQs), AS 13, AS 15, AS 16, AS 17, AS 18, AS 19 Leases, AS 20 EPS (11 MCQs), AS 21, AS 22, AS 23, AS 24, AS 25, AS 26, AS 27, AS 28 and AS 29 (12 MCQs). AS 11 is covered under branch accounting. Cash Flow Statement has 13 MCQs and 3 case studies. Buy Back of Securities has 6 MCQs and 5 case studies. The final part gives 12 integrated case study sets. The opening questions test basics such as who issues standards for non-corporate entities, the role of NFRA, and what carve-outs and carve-ins mean in Ind AS.

The first pages show the kind of conceptual questions that come up often. Know that accounting standards for non-corporate entities are issued by ICAI. Know that standards aim to harmonise policies and make financial statements comparable and reliable. Know which body approves standards and their changes for companies. Also learn the difference between carve-outs and carve-ins, and the full form of IASB. Many options in the booklet differ by only one word, such as 'Board' versus 'Bureau', so read every option carefully. Chapters with case studies in the index, such as Inventories, Construction Contracts, Government Grants, Leases, Cash Flow Statement and Buy Back of Securities, need numerical practice as well as theory. For chapters with many questions, like AS 29 and AS 20, learn the definitions and recognition conditions word for word.

Use the booklet after you finish a chapter from the ICAI study material, not before. Attempt the MCQs for that chapter without looking at the text. Then mark the ones you got wrong and go back to the matching paragraph in the module. The source tags (SM, ICAI Portal, RTP/MTP) tell you where each question comes from, which helps you see which areas the Institute tests again and again. Its coverage stops at RTPs/MTPs till May'25 and past papers till Jan'25. So add the newer RTPs, MTPs and past papers for your own attempt, and check for any later ICAI amendments. Leave the integrated case study section for the last revision round. Do it as a timed test, because those sets mix several standards the way the exam does.

This Aakash Kandoi MCQ booklet is meant for CA Inter students taking the Advanced Accounting paper. It is listed for students preparing for the Sep 26 and Jan 27 attempts. It is most useful for those who have finished the main study material and want structured objective practice across every Accounting Standard and the company accounts chapters. Students who find the AS theory hard to retain will benefit from the short, one-concept-per-question format. Students who lose marks in case scenarios can use the case study sets for Buy Back, Cash Flow and the integrated section. It works as a practice resource alongside your main notes, not as a replacement for the ICAI module.

• Introduction and applicability of Accounting Standards
• Framework for preparation of financial statements
• AS 2 Inventories
• AS 7 Construction Contracts
• AS 12 Government Grants
• AS 19 Leases
• AS 20 Earnings Per Share
• AS 29 Provisions and Contingent Liabilities
• Cash Flow Statement (AS 3)
• Buy Back of Securities
• Branch Accounting including AS 11
• Integrated case study based MCQs

• All CA Inter Advanced Accounting amendment notes
• CA Inter Advanced Accounting notes: every chapter
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