CA is one of the prestigious and difficult courses in India. All we all know is that the course is divided into 3 different stages: CA Foundation, CA Intermediate and CA Final. CA Final is the final gateway of becoming a professional Chartered Accountant in India. To make your preparation easy below we are going to discuss the CA Final Examination preparation to score well in your upcoming CA Final Examination.
CA Final Exams are around the corner, we know you are studying dense to score well in your final examination. Try not to worry more, you must be confused how to start the CA Final preparation in a full fledged way. We will provide CA Final preparation tips of group 1 and group 2 Examination which will help you secure excellent marks in your examination.
After going through this article you will be able to prepare a 360 degree CA Final study plan, along with the CA Final Preparation strategy, CA Final subject wise preparation strategy before the examination which will surely help you in preparing well for the examination.
How to Start your CA Final Preparation?
Don’t worry we have given all the CA Final Preparation tips and tricks. You are advised to kindly go through CA Final Preparation below article, which will definitely help you in scoring good marks in your examination.
CA Final Examination: An Overview.
Before starting your CA final preparation let have an overview of the ICAI CA Final Examination.
ICAI conducts the CA Final Examination in India including 5 International cities. The Examination is divided into 2 groups of 4 subjects each. Students to clear both the groups of CA intermediate Examination along with the ICITSS and ICITSS Training then they are eligible to appear in the CA Final Examination.
Before appearing for the CA Final examination candidates have to complete the articleship training of minimum 2.5 years. Then they are eligible to fill the CA Final Application/ Exam Form. Students can either appear for the either single groups and both the groups of CA Final Examination.
In case if you have completed 2.5 year of training and clear your CA Final Examination then appearing students have to complete their remaining 6 months of training after that your will become certified chartered accountant in India.
How to Start CA Final Preparation- A Complete guideline.
Below are the important notes you should follow to knock off your CA Final Preparation.
Start off with your CA Final Subject- Before starting your CA Final preparation students are advised to thoroughly go through the CA Final Subject. Students must know subjects of both CA Final group1 examination and CA Final group 2 examination.
Jump next to the CA Final Syllabus- It is necessary that the appearing candidates must know every detail and chapter of CA Final syllabus and weightage of every chapter if they really want to make CA Final Preparation plan strong.
Then according to it they must work hard and utilize the sufficient number of hours in proportion to the weightage of the topics. It is not necessary to read every line from the books, students should review previous year CA Final MTP, RTP and question paper and prepare well according to it.
Strictly Follow the CA Final Preparation Time Table: One of the main key factors to score good marks in the CA Final Examination is the discipline of the candidates. Every student must prepare the CA Final time table and you will know how to stick to it and follow accordingly.
Students have to prepare the time table according to the examination. If you are planning to appear in both the examinations then it is advised that students should go with one on one strategy of reading theory subjects in the morning and solving particles in the second half for CA Final preparation.
Your CA Final Preparation strategy also depends upon the time left before the examination.
CA Final Preparation Chart
Students can evolve their Time table according to the following situation.
CA Final Preparation in 6 Months – Give at least 6-7 hours.
CA Final Preparation in 5 Months. – Give at least 7-8 Hours
CA Final Preparation in 4 Months. – Try to complete the revision within one month.
CA Final Preparation in 3 Months. – Again start your revision for CA Final Examination
CA Final preparation in 2 Months. – Work on your performance and time management
CA Final Preparation in One Month. (30Days) – Give more time to mock test papers of CA Final and notes.
CA Final Preparation: Subject wise preparation tips.
CA Final examination is divided into 2 groups of 4 subjects each. At the time of registration of CA Final Examination, students have the option to apply for either one examination and both of the examinations.
CA Final Group 1 Preparation Tips-
CA Final Group1 examination consists of 4 subjects of 100 marks each. The majority of the papers in the CA Final group 1 examination are application and skill-based. Below are all CA final Group 1 Preparation strategies for all the 4 subjects.
Paper 1- Financial reporting Preparation tips
- Thoroughly go through all the major accounting standards given in the financial reporting.
- Students are requested to go through the holding chapters and solve the question daily.
- Keep more focus on section 2 and section 4 chapters. The weightage of the chapters is around 15-20 and 30-46 percent.
Paper 2-Strategic financial management Preparation tips
- SFM is one of the important subjects in the CA Final. Students please do not leave any topic and chapters in this.
- Focus on concepts and make notes of it.
- Practice for SFM topics everyday to score well in the examination.
Paper -3 Advance Auditing and Professional ethics Preparation tips
- The weightage of the CA Final auditing and professional ethics is distributed equally, means every topic is important in it.
- Focus on fiscal laws audit and company edits to get an overview.
- For the better preparation make notes and check ICAI study material.
Paper-4 Corporate and economics laws Preparation tips
- Corporate and economic laws are divided into 2 papers of corporate laws and economic laws of 70 and 30 marks each respectively.
- Check the study material issued by the ICAI and make the notes according to the subject wise.
CA Final Group 2 Preparation Tips-
CA Final Examination has 4 subjects of 100 marks each. Below we have mention CA Final group 2 preparation strategies-
Paper -5 Strategic cost management and performance evolution.
- Some of the important topics to thoroughly prepare are pricing decision, CVP analysis, standard costing, CPA, PERT and linear programming.
- Practice case study and case scenario well and go through the study material of ICAI.
Paper-6 CA Final Elective Papers-
- CA Final Elective papers are divided into 4 papers where students are allowed to take books at the examination centre, all the papers are case study based .
Paper -7 Direct laws and International Taxation-
- The paper is divided into 2 sections where the direct laws consists of 70 marks and international taxation is of 30 Marks.
- Students must focus more on the paper one.
CA Final Preparation Tips for Nov 2020 Examination.
As we all know that the ICAI has cancelled CA Final May 2020 Examination. ICAI made the recent notification on 3rd July 2020. Due to covid-19 pandemic and for the safety and benefits of students ICAI has made the decision to cancel CA Exams and Postpone to the Nov 2020 Examination.
Students who were going to appear in the May 2020 Examination now have got more time to prepare for the next attempt which is CA Final Nov 2020 Examination.
Below are the examination Tips for CA Final Nov 2020 Examination.
The earlier you start your CA Final preparation the earlier it will help you in completing the whole syllabus.
- Complete the remaining- Students who were preparing for the CA May 2020 Examination are advised that they should first complete the remaining topics which are left.
- Complete the preparation of subjective paper- Students should again start the preparation for CA Final Subjective paper.
- Solve more and more papers- As we know that the practice makes you perfect. Solve more and more mock test and revision test papers which will help you to evaluate your performance and help in scoring good marks.
- Keep Aside one subject for exemption- If you think that you have doubt about a particular subject and that subject is taking a lot of time you can keep that subject for exemption and start focusing more on other subjects.
CA Final Preparation Strategies: Crack CA Final Examination in One Month.
How to start CA Final Preparation in One month?
Below we are going to discuss the CA Final Preparation tips which will help you to crack the CA Final Examination Nov 2020 Examination in One Month.
Work on Your Notes-Since you are in the final month, you have definitely prepared your CA Final Syllabus twice and thrice. Now it’s time to work on your CA Final Examination notes which you have prepared or given by your coaching Institution. Last month is all about going through all the topics as a summary. Try to focus more on the chapter of high weightage.
Stick with Mock test Papers till the end: Mock test papers and revision test papers always have been first choices for the students who want to score good marks in their CA final Examination. Mock test papers give you confidence and help you to evaluate your performance before the examination.
Work on presentation Skills- One of the qualities of being a chartered Accountant is presentation of your accounts. It is necessary that you must work on your presentation skills. These minimal benefits will help you to outperform in the examination than others.
Time is everything- Time plays an important role in the CA final Examination. Most of the students are not able to complete their CA Final examination. Completing CA Final paper calm and minimum mistakes is not possible for everyone. Working on your time management is a criteria you should keep your focus on while Preparing for CA Final Examination in one month.
While preparing for the CA Final Examination it is necessary that the student must also focus on their mental health and diet.
Students must also focused on their Sleep pattern, you should at least take 7 hours of sleep to keep yourself active.