How to Prepare for the CA Exams

How to prepare for the CA Exams

CA is considered the prime choice among the students due to its rise in growth in the professional field. Students of all fields whether it is science, engineering, try to attempt ca exams every year. However, the CA exam is not an easy task to complete. A lot of struggle, hard work is required to make a career in this field. That’s why a question arises in the mind of the student which is: How to prepare for the CA exams? What strategy is needed to pass the exam?

ICAI conducts the CA exams and it is distributed in the various subjects that are related to accounts, taxation, business management throughout approx. four to five years.it is always the prime factor of consideration for students how to successfully get through the exam. with appropriate guidance and a proper schedule, students can overcome their fear.

The article is about preparation for the CA exams. What to do for the preparation? All these queries would be resolved with the help of this article. So, let’s begin with the article.

CA exams

CA exams are the straightforward way for those students who want to make their career in the field of finance. Every year lakhs of students take the CA exam but only few of them are able to succeed. Because it is among the few difficult exams in the world. The division of the exam is based on three levels which are:

Those who want to take CA exams with proper strategy they need to know the exam division, their subjects’ criteria, and the division of the percentage among each level.

CA Foundation discipline preparation strategy

CA foundation based on the subject such as accounts, statistics and math, microeconomics, Macroeconomics, business. The result of the CA foundation is approx. 30 percent. The strategy to prepare this subject is described below:

 Accounts

Accounting is the prime course if someone wants to choose CA as a professional career. The intermediate syllabus of the account’s subject plays a vital role in the preparation of the exam. So, revise them properly and proper tests are also helpful. Is success based on how strong your concepts are?

 Math and statistics

Math and statistics are considered difficult subjects. But a very wrong concept is also developed that it is no issue to pass the math subject if you are good in matric. The subject is entirely dependent on the concept and practice. You are not able to pass the exam if you thought that cramming is a solution.

 Business Law 

Business law is an additional subject and it causes a lot of problems for students to solve the questions which are on the paper. Because most of the questions are not from the book allocated and entirely based on the concepts. So, try to prepare from the past papers, and practice them.

 Microeconomics

The economics syllabus of class 10 is the ground to prepare for microeconomics. Refers to the books of class 12 and the CA textbooks. While preparing for the exam focus on the graph and try to find answers by yourself.

 Macroeconomics

Macroeconomics is the theoretical based subject in the CA exams. The weight of the subject is 25 marks in an exam. Prepare with the help of the test session and according to a new scheme. Past papers are also equally important in the preparation.

 CA intermediate subjects and eligibility criteria 

CA intermediate is the second segment of the CA exams which is taken after CA foundation twice a year. Students can also take the CA intermediate exam if they have more than 50 percent marks in any degree rather than the CA foundation result. The exam is subjective and objective.

Subjects

To pass the CA exams students have to score 40 percent in each subject and overall 50 percent is needed to pass the CA intermediate exam. The subject is divided into two groups with 4 subjects in each, the subjects are given below:

  • Accounting.
  • Corporate and other laws
  • Cost and management accounting
  • Taxation
  • Advance accounting
  • Auditing and assurance
  • Enterprise information system and strategic management.
  • Financial management and economics for finance,

Eligibility 

The eligibility to take CA intermediate exam are described below:

  • Students need to pass the CA CPT exam.
  • Students must follow the new scheme.
  • Postgraduate and undergraduate students have at least more than 50 % marks.
  • Candidates need to take an exam through ICAI.

 After the students become eligible, they need to follow the ICAI study material for the preparation of the exams.

CA finals 

CA finals are the last step to become a Chartered Accountant. Likewise, the CA intermediate has 8 subjects based on 2 groups with 4 subjects each. Each subject contains 100 marks and the total marks is 800. students must have 50 percent marks to pass the CA finals.

Subjects

Students who have clear both levels should know the importance of the subjects. The CA finals subjects are listed below:

Group 1:

   1.Financial reporting.

   2.Strategic financial management.

   3.Advance auditing and professional ethics.

   4.Corporate and economic laws.

Group 2:

   5. Strategic Cost Management and Performance Evaluation.

  6A. Strategic Cost Management and Performance Evaluation.

  6B. Financial Services and Capital Markets.

  6C. International Taxation.

  6D. Economics Laws.

  6E. Global Financial Reporting Standards.

  6F. Multidisciplinary Case Study.

  7.Direct Tax Laws and International Taxation.

  8.Indirect Tax Laws.

 Factors to consider for the preparation of the CA exams.

The factors that are quite helpful in the preparation of the CA exams are described below:

 Start preparation early

CA exams required time for preparation. To score high in the IPCC you need to take the CPT 

test with proper study. The success in the IPCC exam is based on the marks you obtain on the CPT test.

  • Along with the completion of the inter-degree, those who want to make a career in CA need to start the preparation early.
  • Those who think they have time and waste in other activities face a lot of problems in the exams.
  • Everyone needs to prepare for the exams as per schedule in a day.

Proper coaching classes

Student success in an exam highly depends on guidance. That’s why the proper coaching classes are equally important as the student will have power in the exam’s preparation. Simply put the base on which student pass is divided into factors:

  • Proper guidance.
  • Hardworking.

Hard work is based on How much students put in their efforts? But when it comes to an institute selection it becomes difficult for a student. The criteria to select the institute is to see their past results. The perfect guidance makes a lot of difference in a result. Guidance from an expert develops a concept and makes you confident.

Make a schedule of a self-study

To pass the exam, studying regularly with the proper schedule is considerable. That is why those students are more likely to clear the exam if they have a proper study plan. There are few points that need to make a plan:

  • Each subject must have an equal division of time for self-study.
  • Try to complete the subject within the listed timetable.
  • Give extra time to those subjects which are not complete in the allocated time.

self-study is equally important as the coaching classes. It helps us to determine our progress in the preparation and what flaws need to be corrected.

Take Article ship training

 Please be very sincere when you are at CA Final. The practical training you will receive during this period will accompany you throughout your career. Dummy training should be avoided because even if you pass the CA final exam, you will feel uneasy about the actual work. The article represents the academic period of the career of CA students. 

 The experience they have gained during this time is invaluable. Articles can be good tax assignments (direct and indirect) or exam assignments (legal and internal) or accept financial reviews from clients or the companies they operate and beyond. They can participate in the strategic decision-making of various organizations. 

 You can turn to a great company that will only provide you with information in a specific field, provide you with extensive training and experience, and make you an expert in that specific field. Alternatively, you can contact a mediocre company and they will inform you of everything: the former is the first choice for students looking for a job, and the latter is the first choice for students who want to set up their practice after the assessment exam.

 Never take guidance from failed students

Although CA is a tough course also their exam is difficult but never take advice from that student who failed in an exam. Their experience is not good for sure. The experience varies from person to person. It does not mean if a few people had a bad experience in this exam everyone will be the same.

Never discuss or take guidance from these kinds of students; they always mislead you. Every person talks or advises others according to their own experiences. Always discuss with good students who have an interest in this exam and also pass the exam.

Discuss your syllabus, curies related to the CA exam to those who have a positive attitude for this exam. They will lead to success because they become successful only from taking guidance from experts. If those students who failed in exams take guidance from experts they will never fail.

Fully know the CA Exams pattern

Once you choose CA then you will have to gain all the information about this exam syllabus, test pattern, what type of question will come, which question is important for the exam, which book to consult.

 To prepare for the exam you will have to think technically about how to cover the whole syllabus and get good marks. Divide the syllabus into parts 1, 2, 3. The first section includes a quarter of the entire syllabus but it covers most of the percentage of paper.

The second section covers half of the entire syllabus but only covers a quarter of the paper question. The remaining part includes the least important topics. This is the pattern of how to cover entire syllabus

  • Once you start your preparation, separate important topics, easy topics, topics you already know about, tough topics. Make a list of these topics firstly.
  • Always start from easy topics then move to topics that you are already aware of it then move to tough topics
  • Give more time to tough topics, always read, learn and then write in this way you never forget.
  • Before preparation, become fully aware of exam patterns and syllabus.
  • Consult experts which book they recommend.

Give yourself some free time.

No doubt study is important to become successful but some free time to relax is very important. It gives your mind peace and keeps it fresh.

  • Rest for 10-15 minutes after every hour. This will help you to stay focused on studies.
  • Try to get proper sleep.
  • Healthy food and a lot of water keep you fit.

Take notes 

It is a good way to keep your notes if you want to become successful. Practical concepts, theoretical concepts of subjects are necessary so always note them. Notes help you in a way if you find some difficulty in any subjects you can easily solve the equation if you have your notes.

Stay strong both mentally and physically

After all the hard work you need to stay strong mentally and physically. This will give you strength and confidence in yourself. If you take pressure it will not help you in any way it will lose your ability to remember concepts.

Passing each level of the CA exams is necessary to become a certified chartered account. But scoring a good mark is essential to become the prior candidate of the CA firms.

Final thoughts for the CA Exams

To become a successful chartered accountant’s proper preparation is the key point. First you need to know the weight of each subject that has been included in the CA exam because it will help you to develop a pattern. This topic is about how to prepare for CA exams. I hope you will find this article helpful to score well in an exam.

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