Tips for preparation of CA Final Examination May 2020

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As we know that only one and half month is left in your exams and students must be in a dilemma how to revise such a vast course in just one and half month and how to make a CA Final preparation strategy for last one and half month.

Don’t be afraid that you are in the worst position and now nothing could be possible. There are still many students who haven’t completed their course yet, so you must consider yourself lucky enough that you have completed the course at least and now it’s time for revision. Give your 100%, ICAI will give you 50% and you need only 50% to clear this exam.

In order to clear CA Final exams, you must make a study plan, you must revise your course at least three times before the exams and practice a lot of questions to gain clarity over the concept clearly. But if you are sharp enough to recall everything in one revision that doesn’t waste your time. It’s time for hard work with complete dedication. You need to study 15 hours daily at least to achieve your goal.

This strategy is based on the assumption that you have completed your course properly one time.

CA Final Preparation Strategy

Here we are going to tell you how to utilize such a short time and clear CA Final in just one month & half month –

Decide Single Group or Both Groups

Most Important part of CA final preparation strategy is deciding whether to go for a Single Group or Both the groups. Most of the students found themselves in this dilemma. We will suggest you consider your preparation and ask yourself whether you have prepared enough to give both groups this attempt. If yes, then go for it. But if no, then don’t waste your time in both groups. Instead, you should thoroughly prepare for a single group and worked with another group in the next attempt. These six months will help you in the long run.

Make a Time Table

Don’t dare to start your revision without a timetable otherwise after 10 days you will found yourself in a position that you have completed one subject till now and 7 more subjects are left. So, prepare a genuine timetable covering all the subjects leaving at least 3 days for the first exam preparation. Divide the time between each subject according to your capability. Don’t prepare a Timetable according to the days. Instead, you should allocate hours to each topic in a day, This is the best possible CA final study strategy for the last month

Don’t stick to theory for the Entire Day

Maybe you are planning to divide 3-4 days per subject but trust me this is the worst idea unless you are a bit intelligent than others.  Either you should take 2 – 3 subjects per day and set a time to complete your goal. The reason behind this, taking theory for an entire day can be a bit boring, make you sleepy and lose your effective hours. Instead, it just increases your labour hours. So, allocate time to both practical as well as theory subject in a day properly.

Prepare At least One Subject for Exemption

Students, it is a bit natural that everyone has one weak subject in which we just pray to score 40% minimum marks. It may be ISCA which is quite technical or DT which is very vast, or AMA which needs your concepts to be very sharp or IDT in which GST has been implemented. You have to prepare one subject in such a way which covers your aggregate marks.

Make the Short Notes for the Exam Day

CA Final Study Strategy for last month must start with making quick revision notes. You may either refer summary book or prepare your own handwritten notes for the exam day in order to revise. If preparing summary notes is wasting your much time then skip it and go with summary modules of some teacher. But remember, whatever material you are planning for the exam day you must have gone through it before. DO NOT go with fresh material on the one-day preparation leave.

Cover RTP and MTP

Students must cover RTP and MTP as soon as they complete the subject. Consider, it as a part of your revision. It will show you a true picture of how to attempt the paper. Don’t wait to complete all the subjects and thereafter start RTP and MTP. Instead, you should cover RTP at the same time. It does not take you much time as it covers either one or hardly two questions from each chapter. You can opt MTP at last. Practice CA Final previous years papers and CA Final Mock test papers at least for last 3 attempts.

Focus on Amendments

ICAI always wants you to be updated with the laws and provisions, so don’t skip the amendments. Try to cover them at first. Especially when we talk about subjects like DT, IDT, and Law.

Mnemonics for ISCA(OLD SYLLABUS)

Most of the students consider ISCA as a weak point to clear their CA Final. The reason behind such may be facing difficulty in learning the technical language and also recalling such points in the exam. Hence, you are suggested to use mnemonics to learn this subject. You can search it either on Google or use some teachers notes who use to teach this subject with mnemonics.

Must Cover AS, IND AS, and SA

It is a very scoring part of Accounting and Auditing. AS IND AS and SA are easy to read and take less time in comparison to other parts. Besides this, they are very scoring but never write the wrong number of AS, IND AS and SA. If you are unable to recall such number, start with the name only.

Write the Section Numbers in exams

You might be thinking that you had a good score in IPCC without writing the section numbers. But students, this is CA Final not IPCC, five times tougher than IPCC. At the IPCC level, your basic knowledge of sections is tested but at the Final level, ICAI wants you to be expert in all the subjects. You can miss the subsection or clauses but try to write all the section numbers. But if you are not able to recall it in the exam then don’t quote the wrong section number. Instead, you can start with “As per the provisions of Income Tax Law  1961…. “. Writing a Section number is the best preparation strategy for Sections.

Cover Relevant Part First

We do not suggest our students go for selective study but as time is very short so it’s better to cover the important topics first which has been shared by your teacher. Cover those topics of all the subjects first as your teachers have a vast experience in this field. They know the questioning pattern of ICAI so cover their suggested topics first.

Watch the Revision Videos

Instead of wasting time on revising the entire concepts, you can watch the revisionary videos available on the youtube which helps you a lot in revising the concepts and you directly start with the questions.

Revise the Practice Manual

ICAI has a tendency to ask questions from the PM. So, if you have already gone through the PM earlier then better to revise PM. However, it’s a bit difficult to revise PM like AMA but you can select some questions which you think worthful for the exam purpose.

Focus on Writing Skills

The presentation is an important part of CA Exams. Don’t take it lightly, it gives you relevant marks. So, consider the ICAI Material either SM, PM or suggested answers and observe it’s writing pattern carefully thereafter start the practising the questions. As far as theoretical subjects are concerned, you need to explain what examiner is asking for and thereafter write the relevant provision along with section number. At last, you should give your conclusion along with case law if any.

Manage your Time

Attempting the complete paper is actually the dream of most of the students. Might be, you are taking it as a joke but ICAI papers are very lengthy and need a good speed to attempt the complete paper. Start working on it now, if you haven’t started working over it yet. Whenever you are taking Mock Test Papers, give yourself time at least 15 minutes early than the actual examination. This will take you into the practice how to attempt the complete paper.

I hope students will found these tips useful and wishing all the best for Exams.

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