Chartered Accountant is the major goal for Commerce background student. The remuneration and role of being advisor and auditors always managed to get the aspiration of the students(read the article The Benefits Of Becoming a C.A). The major anxiety of students to crack C.A exams is because of its strict marking which creates a narrow passage to enter next level. In 2018 around 50000 students appeared for CPT exams and out of them, only 9014 were able to clear C.A. finals. With a ratio of only 18% winning the race, make it highly competitive and challenging
In this article with the help of CA R.C Sharma Sir (Founder of the (Best CA Institute in India), we are sharing a few ideas to help you prepare for CA exams in six months.
C.A. Curriculum is Divided into Three Levels
The first most level is CPT(common proficiency test) or Foundation course, which is basically finding your aptitude about fiancé and account. Though it covers the major syllabus of 12TH std. still, only 30% of students manage to clear this level.
The second level is IPCC(Integrated Professional Competency Course) or intermediate course which determine your understanding for corporate accounting and tax structure. This level is divided into two groups, which can be cleared separately or at the same time.
The third is Final Exam, which again is divided into two groups and can be cleared separately or together. Only 3-8% are able to crack this level hence making it one of the toughest exam in the world.
C.A. course duration is for minimum 3.5 years to 4 years to clear, hence all those students who are truly aspiring to be the one need to make a commitment for such a time period.
Once you have made up your mind to be C.A., we need to manage our time and effort meticulously to reach our goal. I suggest you make a periodic timetable for the next 6 months to prepare yourself to appear for exams.
1) While you start preparing for your first attempt to CPT, you might be appearing for your 12TH std exams too, So while studying for your 12th Std, focus on your weak subject and topics which are most confusing to you
2) Try to find out good and reputed institute in your locality.
3) Keep notes of all those topics, chapter, words which you find hard to understand
4)Start reading business magazine and newspaper to understand the terminology and their context
5)Be positive and surround yourself with positive people
Once you get free from your 12 the std exams and start focusing on your C.A. Exams you need to get yourself and enroll for reputed coaching center nearby.
#1 Participate in group discussion, test and various activity organized by your center
#2 Start developing a habit to understand each and every term used in your books, newspaper and even by your teacher in class.
#3 C.A need to have the analytical aptitude, hence its necessary for you to analyze and interpret every economic situation around you. For e.g. when you hear about the word repo rate cut or insolvency or mergers and acquisition, take a time to understand about it, why is it important, how it affects, what are their implication
#4 Solve your accounting and mathematical problems daily, to make you wizard in these subjects
Once you develop a habit of reading and understanding every bit of that..things would be now much easier for you. and once you get the proper understanding of basic concepts of accounting and economics. we would step ahead to increase our analytical skill.
#1 I would suggest you go thru different case studies of corporates available online. It would help you to understand the nature technical topics and execution of basic laws. For e.g., if you try to understand the scam by Vijay Mallya you will come to know about FERA(foreign exchange Regulation Act) and how it was violated him.corporates available
#2 Keep practicing, the technical topics of accounts and economics like analysis of financial statement, cash flow statement, accounting for companies and partnership firm, calculation of GDP, cost analysis.
#3 Help your father, mother, brother in filing their income tax return, paying GST,.This will help you to understand the structure of the Income Tax Department Of India and its laws.
#4 Amaze yourself with some visit to C.A firms and offer some help.
As exams, times get nearby. we tend to get wet palms, but when you have all formulas on your tips nothing is left to worry
#1 Keep a handy booklet of all the formulas and ratios used in your syllabus.
#2 Add post-it stamp of case study relevant to the topic for e.g. when you are reading about insolvency ratio you can add post-it stamp of a recently bankrupt company with current ratio, quick ratio, current debt to inventory ratio and other three more ratios.
#3 Make a neat diagram of all the economics laws and can have it in front of your desk.
#4 Never forget to keep yourself updated with current affairs,
Practice is virtue of being a perfectionist. Every company is dynamic and so are the problem. so when you start trying to solve as many problems you get clarity of every formula and rules.
#1 Take different books to solve as many problems as you can.
#2 Take proper sleep and rest to energies your mind and body
#3 Proper eating habits, and spending some time with your loved ones will help you to relax
#4 Whenever your doubts are not clear to seek help
Students tend to doom out when they find their exams date approaching. But with proper preparation and confidence, nothing seems to be tough. So I advise you to leave behind your anxiety and approach your exams with confidence and integrity. Practicing and keeping yourself updated with information is key for success, in all field. All the best to you all and hope this article helps you to achieve your dreams.