Preparation Tips: CA (Chartered Accountant) Examinations

CA Exams are conducted by the ICAI (The Institute of Chartered Accountants of India). This exam is conducted for individuals who aspire to become chartered Accountants and pursue Chartered Accountancy as a profession in India. 

This examination is conducted at three different levels in accordance with the curriculum provided by the authority of ICAI. To practice as a certified chartered Accountant, a candidate has to qualify in all three levels of CA examinations.

However, it is not as easy as it sounds. Cracking the CA examination is not an easy task, it includes completing of tedious curriculum and maintaining continuity with preparation. Although CA is considered one of the toughest examinations to crack with a proper plan of study and essential resources and materials, any student can qualify for the CA (ICAI) Examinations. 

This Article includes those tips and tricks for the ICAI CA Exams that can kick your preparation and will help you in completing the vast syllabus provided for this examination.

Abstract

Chartered accountants are professionals who work in different sectors of managing finances, the economy, helping out with money management, and providing financial advice and. This can be for an individual, Business, or Government.

The Chartered Accountancy profession is a good career choice for students who have an interest in the finance sector. However, these exams are considered one of the toughest examinations to crack. A lot of students every year sit for this examination but only a handful of students actually pass this examination. 

The exam is divided into three levels: 

• CA Foundation 
• CA Inter and
• CA Finals 

ICAI CA Examination

ICAI CA exams are conducted by the Institute of Chartered Accountants of India. ICAI is the National Body of Accounting in India. After clearing all the examinations, this authority issues a certification of eligibility to practice as a Professional Auditor in India.

However, In Chartered Accountancy examinations, the result percentage every year according to the three-level is observed;

• The result of the CA Foundation goes approximately 30%, 
• The result of CA Intermediate goes approximately by around 4 to 8%, and 
• The result of the CA final goes approximately 3 to 8%

The percentage ratio shows that this exam is considerably tough to crack. Below are some tips to properly prepare and effectively make a plan to achieve success.

Tips and Tricks for Preparation

Step 1: Early Beginning: Preparation for the foundation examination should be done in the best possible way. The marks you attain in Foundation set a target for the Intermediate examinations.
Students get confident about the next levels of examination when they take the foundation exam seriously. Preparing early and scoring well in the foundation will help the students in getting enthusiastic and this will lead to positive results in the examinations.
Students should start their preparation after the academic session begins. This will enhance their preparation in advance. Do not neglect studies, as it is common among students. They tend to think that a lot of time is left and they will prepare when the exams are near. Now is the right time to prepare. Hence, Students should plan their preparation and carefully follow it. Everyone must make an effective plan to study, be consistent with the routine, and study accordingly.

Step 2: Make an Effective Study Plan: The first thing you need to do once you are ready, to begin with, the preparation is to make a proper timetable for the year in which you are appearing. Devote time to each subject and try to complete it. Make your study plan easily achievable and less hectic. Allow adequate and equal time for each subject. Allot more time during weekends for the syllabus and self-study.

Step 3: Right Guidance: ICAI provides study material for the CA Examination but completing a syllabus with over 12,000 pages can be a tedious task to follow. In such a situation students prefer the guidance of professors and coaching institutes. Choosing the correct CA coaching institute is essential to achieve overall success in the ICAI CA examination. 

The two factors on which success in CA examinations depends include:

• Proper Guidance and

• Hard Work

Making the best of efforts and working hard lies in the hands of students. But the problem arises in choosing a good CA coaching institute. Most of the institutes represent good results which makes it difficult for the students to choose the correct one for themselves.
Before choosing a suitable institute, the student should always enquire about the previous year’s results of the institute in the CA examinations. And then CA aspirants should choose the institute that maintained a good score. Correct guidance and the Right coaching bring an effective difference in the performance of a student in the CA examinations.

Step 4: Small Targets: The syllabus of the CA Examination is vast and one cannot complete it in one go, so equal time must be allotted to complete the syllabus in portions. Set a daily or weekly target for yourself and achieve it. Make the process simple and easy. Do not burden yourself with multitasking as it will make you feel tired and bored in the process.

Step 5: Understand the Syllabus and Exam pattern: Divide the syllabus into sections such as A, B, and C.

• In the A section put those chapters and portions which cover 70% of the weightage in the examination,
• In the B section put those chapters and portions which cover approx. 20-25% weightage in the examination, and 
• In the C section put all those chapters and portions which are supplemental in nature and only hold 5-10% of the weightage in the examination.
  Once you begin with your CA Exam preparation, go through the CA Exam Pattern and Exam Syllabus very carefully. The Syllabus must be on your tips. Make a separate list of topics that you feel are easy for you and of those topics which you find tough. In your study plan, allot more time to tough topics and less time to easy topics. Along with it, be handy with the right books for preparation.

Step 6: Specific Targets: Prepare a specific and concise study plan. For example: If you have begun your preparation with the topic trigonometry, ensure to mention the specific topic to complete it easily. Make your study plan for CA Examsless complex, easy to understand, and consistently achievable in accordance with the particular targets.

Step 7: Take Small Breaks: Continuous Studying is important for your aim but frequent breaks should also be taken between the study periods. Take a break of 5-10 minutes every hour after each sitting in the day. Apart from it take adequate sleep, eating well, and being dehydrated. Without proper meals and enough sleep, you would not be able to perform well with your preparation and achieve your goals.

Step 8: Update Plans: Once you begin with your preparation, improvise your plans. This update can depend on your improvement in managing time and your speed of covering the syllabus of the examination.

Step 9: Stay Away from Negativity and Distractions: Do not discuss exam-related issues with anyone having a negative attitude toward the ICAI CA exam. There are a lot of distractions while preparing for the examination. It is advised to stay away from social media and gadgets during preparation. And if you have adequate self-control, restrict the use of social media to an extent that it does not affect your studies. Despite this, be active with sports and your hobbies as it would help your day in becoming interesting and you will not be bored of studying at the end of the day.

Step 10: Previous Year Question Paper: Take online mock tests, check our previous year’s papers of the CA Examination, and take online practice tests to check your progress, evaluate question papers and etc. Apart from it, believe in yourself to achieve the target.

Step 11: Think Positive: Examinations such as CA not only demand effort but also require consistency. This can only be achieved if you have a positive attitude towards the examination and you are happy and productive. 

You don’t only invest your time and efforts in such tough examinations but because it is a long journey and would demand precious years of life, you should only think positively. 

If you fail at daily tasks or even at a stage, make sure you believe in yourself. This examination will reshape your life, and your personality, believe that you prepare as a professional and not only as a student. This will lead to a positive space where you will be in a healthy mindset regarding your target.

Do’s and Don’ts

• Do’s
• Properly manage time,
• Make a concise time-table,
• Do not stick to theory subjects all day,
• Decide on priority, whether you want to sit for a single group or both of the groups,
• Give regular assessment tests to track your performance,
• Practice your speed of attempting the examination,
• Put extraordinary results for a good rank,
• Revise each subject three to four times before sitting for the examination,
• Revise your daily targets,
• Stick to restricted material and books 
• Solve mock tests
  
• Don’ts
• Do not hesitate in clearing your doubts,
• Avoid referring to a lot of books and materials on similar topics,
• Do not refer to anything by getting fascinated by any peer group,
• Do not devote more than the required time to a single topic, unless it carries a good amount of weightage in the examination,
• Do not doubt yourself or your capabilities,
• Do not waste your precious time

Exam Day Instructions

On the day of the exam, you must adhere to some instructions which are as follows;

• Make sure to follow the appropriate diet before sitting for the examination,
• Do not carry any electronic devices into the exam,
• Do not panic or rush while answering questions,
• Think before answering,
• Be confident, don’t give up if the paper is tough,
• Solve easy and known questions first and then proceed with the questions your find tough,
• The examination consists negative marking scheme, so do not answer unless you are confident about it,
• Follow the instructions of the invigilator,
• Report to the invigilator, if you face any problem(s) in the exam hall

FAQs related to Preparation 

• How many stages do to pass to clear ICAI CA Examination?

To legally and professionally pursue CA, one must pass three stages of examinations: Foundation, Intermediate, and Final stage of the CA Exam.

• How much time should a student devote to studying for the CA examinations?

Consistently follow a minimum 6 hours per day of sitting routine to pass the CA Exam.

• Can an average student succeed in the ICAI CA 2022 Exam?

Yes. If adequate hard work is invested, every candidate can clear the ICAI CA exam.

• Is self-study sufficient to pass the examination without any coaching or guidance?

Yes, students can pass the exam without any coaching institute. The study materials are provided by the ICAI and students should stick to these materials to pass the examination. 

• What is the most important step while preparing for the Chartered Accountancy Exams?

Go through the exam pattern and syllabus completely. Apart from it, adequately revise what you have studied.

Conclusion

Choosing Chartered Accountancy as a career option is considered a smart choice. There are a lot of opportunities for qualified professionals in the finance sector. 

Surely, there are a lot of challenges in this sector. But by planning appropriately and working hard with a vision in mind, you can easily overcome all of these challenges and make a good career as a Chartered Accountant!