How to crack CA Final in first attempt

CA Final Examinations, the name is enough to describe itself, how important these exams are, for every CA student life and his career. Just two groups consisting of eight papers and it will change a life of CA student completely. The biggest day, the unforgettable day, a memorable and with full of emotions, a day for every CA student life, when he/she has done with result status PASS, and become a Chartered Accountant. That’s the day, that’s the feeling, that’s the moment, are really-really a very happiest and special day for a CA students.

After reading this, I know you also got started feeling the same and thinking about that, when these moments comes into your life, when your dream comes true, when you become CA and part of CA fraternity and a member of Institute of Chartered Accountants of India (ICAI). So now, here is some tips, guidance and strategy for you that can help you in good preparation and becoming a chartered accountants very soon.

So let us start with our discussion – How to crack CA Final in 1^st Attempt.

CA Final (New Course) has divided into two groups

Group-I which consists of four papers

Group-II which also consists of four papers

In Group-I, Four papers are as follows:-

Paper-1 Financial Reporting

Paper-2 Strategic Financial Management

Paper-3 Advanced Auditing and professional ethics

Paper-4 Corporate and economic laws

In Group-II, Four papers are as follows:-

Paper-5 Strategic Cost Management and Performance Evaluation

Paper-6 Elective Paper (Student can opt for any one out of six papers)

• Paper-6A Risk Management
• Paper-6B Financial Services and Capital Markets
• Paper-6C International Taxation
• Paper-6D Economic Laws
• Paper-6E Global Financial Reporting Standards
• Paper-6F Multidisciplinary Case Studies

Paper-7 Advanced Auditing and professional ethics

Paper-8 Corporate and economic laws

Student preparing for both groups of CA final has gone through with these eight papers, now let me try to give an idea about how to prepare all these and what things every student should keep in mind while preparing for examinations.

First, I would like to say one thing, that Self-study is the key to success. You can take classes with any of the best faculties for any subject, there is still need to do self-study by student itself. I am not going to discuss about here that which faculties are best or which are not for the coaching classes, this decision are solely based on the student interest and understanding that with whom classes he is satisfied, he is getting better conceptual clarity and able to solve questions.

There is some important things, student should follow:-

• Determination, Passion and Patience: – The foremost important thing is your determination, passion and patience. Reason being you can become a Chartered Accountant only if you really want to. Believe me, it’s harder to become a CA if you father wants it or your best buddy is pursuing CA. You can become a CA only if YOU want to become a CA. You need to keep reminding yourself day and night that this is what you are destined to become. You got to have that determination, passion and patience.
• Manage studies along with Articleship: – Three years of continuous Articleship journey has play crucial role in CA student life. Clearing CA final in first attempt with dummy Articleship will be a waste of CA degree. Take Articleship seriously. Spend limited but quality time in office. Learn as much as you can. Try your hands on all the kind of work your office offers. Believe me, it will help. You just need to apply your learning at the time of your preparations and in exam. But make sure you do not get so much engaged in office work that you don’t get time for self-studies and your classes.
• Consistency: – You cannot clear your CA finals if you are thinking you will clear the whole syllabus in last 3 months. It’s not an easy cake walk. You have got to study regularly during Articleship daily 2-3 hours apart from coaching classes. I know it is easier said than done, but you have got to invest regular time. And do study all subjects on regular basis this helps to keep you stay in touch with the subjects and you will not forgot the things you learn.
• Prepare Self Notes: – Your self-prepared notes are the key factor in grasping the subject and having good command over the entire syllabus. How you make your notes is going to decide how much time you are going to need for a particular paper. Time is crucial in CA Finals.The one who manages time effectively has much higher probability to clear CA final in first attempt. You should take the notes made during coaching classes as well as notes made during your self-study. What I am asking you to do is that you have got to make a running note of the key points in your copy / book. In coaching classes, they sometime give you a thumb rule or a shortcut or the logic behind a complex topic. Just note it down at the top or the bottom of your notebook page. Or if you are studying a topic yourself or are going through coaching notes, just make a note of the summary of the whole topic in your words and also stick there sticky notes on which you can mention key points, key words, summary of any topic for quick revising the things. It will be a great help when you are revising that topic at the time of your preparation leave or a day before the exams.
• Self-Evaluate:- Practice question papers should be the self-evaluation tool that you use to understand your strengths and weaknesses. Practice will also make you confident and helps you to review your preparation. A SWOT (strengths, weaknesses, opportunities and threats) analysis of your answer paper will help you plan in preparing during the last few months of the examinations. You can strengthen your weak areas but also build upon your strengths so that you score well and it will build your confidence on subjects.
• Practice makes a man perfect: – As you well known with this phrase that “Practice makes a man perfect”. In the same context, just go through with the solutions of previous questions to familiarize yourself with possible questions that may ask in examinations. You will find that there are a few questions and topics that are repeatedly asked in exam in every alternative attempt. If you prepare for these, you can aim at achieving a good score for your CA exams.
• ICAI MTP, RTP: – ICAI has conduct Mock Test Papers in two series for every attempt and issued Revision Test Papers. Mock Test exams are a sure shot way to understand the feel of the exam day and to be prepared for it. Mock exams test not only your knowledge but also your speed and writing skills, all of which play key roles in your final performance. These tests will help you set your time limit when you answer your paper and solving RTP questions helps you to revise the entire syllabus with quality questions of ICAI.
• Frequent Revisions: – While preparing for CA Final Exams, frequent revision is must for CA student. You need to read the entire syllabus at least three times before exams. Read the full course in your first reading then read the second time and mark important questions or lines in your second reading. And finally, when you are reading the third time you should focus mainly on the highlighted area which you did during your second revision, this practice if followed, helps is quick revision and strong preparation for all subjects.
• Staying positive: – Positivity is must to keep every time. CA by nature is a tough exam and clearing it demands a lot of mental strength and positivity. It is important to strengthen the mind and thoughts with yoga and meditation and strengthen the body with healthy food and good sleep and remain positive and think positive about preparation and exams, negative thoughts leads to lose your confidence level and degrade your level of preparation, so avoid all negativity and stay positive.

These are some of the proven ways to clear the CA Final examination in its first attempt. Hope this will helpful for all CA Final students for better preparation and good score in examinations. With these words, I wish you all the very best for preparation and good luck for examinations.