This Question originally appeared on Quora. Someone asked, “I Failed in CA 7 Times, What Should I do Now?”
CA XYZ sounds a lot better than Mr. / Mrs.XYZ…………………….. And what else can give you a better feeling than becoming a Chartered Accountant.!!!
Chartered Accountancy is divided into three levels where the first level is CPT whose average result takes between 30-35% after that IPCC where the average result remains 10% and last CA Final where the average result is up to 10%.
That means if 1000 students get enrolled in CPT, only 300 students will reach to the next level i.e. IPCC and out of these 300 students only 30 can crack this level and become CA Finalist and out of such 30 students, only 3 will become Chartered Accountant.
The above stats show that if you have reached CA Final, then you are better than 970 students who enrolled in this course. If you can reach this level then definitely you can crack the last level also.
Chartered Accountancy demands complete dedication, hard work and last passion towards this course. If you can give all these things then nothing can stop you to become a successful Chartered Accountant. Many times students ask questions, I failed 6 times in CA Final or I got 10 attempts in CA Final. Should I continue this course?
Whenever, you feel “Quit”, Remember the time and money you have given in this course. If you have invested more time than an average CA student, you gained more experience.
Maybe your relatives are suggesting you appear in some other exams or friends are advising you to refer new books every time. This must be hurting you a lot. But you can’t quit CA just because your relatives are not comfortable or your friends are murmuring blah blah…
#1 Believe in Yourself
The first thing you have to do is believe in Yourself that “You can do it”. Nothing can stop you from achieving your desire until you lose the hope. Just forget what relatives said or advice given by your friends and keep in mind that You will be a Chartered Accountant. Open your books and give your 100%.
#2 Proper Time Table
Studying without planning is one of the reasons behind failure again and again in CA Exams. Before starting your preparation, make a proper timetable which covers each and every chapter. You have to divide the remaining time into all the subjects smartly seeing your preparation level. Allocate the hours between subjects and their topics and strictly follow them. While preparing the timetable, you must note that your first revision must have been completed at least 2 months before the exam. Thereafter, separate one month for solving past attempt papers or Mock Test Papers.
#3 Stop Skipping the Topics
Often students use to say that “My paper was not good because the whole paper is covered from the part which I skipped”. Don’t blame ICAI for your failure, you skipped the topics hence you could not become Chartered Accountant till now.
Cover each and everything, Although, you can give priority to important topics first but don’t skip any topic as it is CA, not B.com or M.com. If you remember, there was a question of Safe Harbour Rules from Transfer pricing in Nov 2017 Direct Tax Paper which was beyond everyone’s expectations. Hence, never think of skipping any topic.
#4 Three Times Revision
The syllabus in the CA Final is very vast. It is not possible to perform in the exam with just one reading. You have to revise the syllabus at least three times before exams. After completing the course once, it’s time for your first revision where you need to solve each and every type question and amid this revision mark the question which are of similar types so that you will not waste your time practicing similar questions again and again.
During your second revision, read the concepts which are relevant and solve the single question of each type as well as mark the questions which are tricky and need one more practice.
In your last revision, you will not have time to solve each and every questions, hence go through the questions which you have marked in your second revision and which needs one more practice.
#5 Solving Mock Test Papers
Most of the Experienced faculties has a belief that Mock Test plays 40% part in your CA Exam result. Only reading is not enough to crack CA Final Exam, until you don’t give a practice the result will be same. Practicing papers at home helps in identifying your mistakes, improves your presentation as well as speed.
After solving the paper, check the answers from the suggested answers shared by ICAI at their website. Read them and identify where did you commit the mistake. Doing this again and again will never let you fail.
#6 PM and RTP
Never ever skip PM and RTP, the questions covered in such are at most important. ICAI Material is most important among all the books or the coaching materials. AMA papers covers plenty of questions from Practice Manual as well as 50% paper in ISCA also comes from Practice Manual.
RTP is the last moment revision technique of the whole course before the exam. Cover past 5-6 attempt RTP’s as ICAI has a tendency to cover the questions from RTP in the Exam paper.
#7 Short Breaks
CA needs effective 12 hours study per day or even more than that. But when you are studying continuously it increases your labour hours instead of effective hours. Hence, take short breaks while studying like 15-20 minutes in every two hours. These short breaks don’t waste your time, rather they make your further hours so much effective.
#8 Prepare two Subjects for Exemption in a Single Group
Stop reading to score 40 marks only, Covering aggregate percentage is more difficult than scoring 40 in individual subjects until any of your subjects is well prepared. Hence, you must prepare at least two subjects for exemption in a single group.
Friends, we hope now you will not lose your hope and start everything in a new manner and in a better way. All the best….
“Success is How High You Bounce When You Hit The Bottom”.