How to Prepare for CA Final and Score High Marks?

Prepare for CA Final
CA Foundation Sep 2024 New Bactch 26May

Getting the honor of adding CA before your name is a dream every aspiring CA student has. But to make it come alive, one has to put in a lot of hard work. How can you make this dream come alive? Only with consistent efforts and the right methods. An important question that comes here is, what is the correct approach? ‘How to prepare for CA Final Exams with the right method?’

So in this article of CA Wizard, we will share essential tips on how to score high marks with the right CA Final Study Plan. When you follow them, completing the CA Final Exams, and that too in one attempt, will be as easy as 12th board exams or CA Inter for you.

(Read till the end for some rarely known tips. You may find some points common but show how they are essential, and you should not neglect them.)

CA Final Preparation Tips

You need to clear your goals and strategy before you start preparing. You must know the following for CA Final:

  • What to study?
  • How much to study?
  • How to study, and what schedule to follow?
  • How to do revisions?

What and how much to study for CA Final Exams?

CA Foundation Sep 2024 New Bactch 26May

Every subject of the CA final course is different and needs a different preparation strategy and plan. To get a rank in CA Final, you need to be selective in what you study. So here are some essential tips for you based on each subject of the CA final course.

Group 1

Paper 1: Financial Reporting

The new course CA Final syllabus is vast and more difficult than before, so only refer to the new material. In this paper, you have to study to read the concept notes or formulae and solve Illustrations/examples of study material and relevant RTP/MTP.

Paper 2: Strategic Financial Management

The syllabus is reduced in the new course. You must practice the study material questions along with the practice manual of the old syllabus. Also, do RTP. This is a scoring subject, and you must do all chapters. The theory is of 8 marks, so if you aim for a good rank in CA Final, you can study the theory from the old practice manual.

Paper 3: Advance Auditing and Professional Ethics

This subject is very lengthy. So you need to pay more attention to it. You must solve the practice manual, study small chapters from the study material. Not to miss out on the RTPs. For practicing MCQs. Do not use any other books.

Paper 4: Corporate and Economic Laws

The course for this subject is also reduced in the new syllabus.

You can avoid the section numbers because your complete marks will be lost if you write the wrong numbers. Study material is sufficient in the new syllabus; however, you can refer to the practice manual if you have time.

Group 2

Paper 5: Strategic Cost Management and Performance Evaluation

The theory part is increased in the new syllabus. It is almost 30 to 40 marks, so do not ignore it. For the practical portion, practice more to increase your speed.

Paper 6: Elective Papers

This is again a very scoring subject. You can score high marks easily. You only have to cover the ICAI study material.

Paper 7: Direct Tax Laws and International Taxation

You can score passing marks easily in this subject as well. The international taxation part is 30 marks, which you can study easily. The direct tax laws part is 70 marks, but half of the syllabus is already covered in CA Intermediate level. So you only have to revise it. This is mostly a practical paper, and you have to ensure your concepts are strong.

Paper 8: Indirect Tax Laws

For the ‘Custom’ part, the exercises in the study material are very much sufficient. You have to only study the chapter 4, 5, 6, and 7 completely. To study the GST portion of the syllabus, you need to study the charts from the modules, which will be enough for good marks.

How to Study for CA Final Exams?

The syllabus for CA Final course is vast. To cover the syllabus on time and pass CA Final exam, you have to keep certain things in mind.

  1. Follow only ICAI study material. The papers made by ICAI are based on their own study material and RTPs/MTPs. So keep ICAI material as your first and only priority. Don’t go for unnecessary refreshers and material from other institutes.
  2. Study for a minimum of 8 hours and a maximum of 12 hours. There is no rule when you should study, but choose a time when you are not tired and can actually concentrate on your studies. Take short breaks. Keep distractions away during your study time.
  3. Sleep for 7-8 hours a day. Do other hobbies and activities in 2-3 hours of the day. Just make sure you first study and then go for entertainment. Keep it as a reward for studying the minimum number of hours so you are motivated when you study.
  4. Make your own concept notes or formulae notes. It will be more beneficial than using ready-made notes.

Download the CA Final Paper with suggested answers.

Revision Strategy for CA Final Exams

Revisions are very important if you want to score a good rank or even pass the CA Final exams. You must do at least two revisions before the exams. 2 months are sufficient for the revisions. One important thing you must follow during revisions is that you do not start learning any new topic in any subject. Revisions are to consolidate what you have already learned.

  • Revise one subject at a time. Do not start revising 2 more subjects. Complete one subject in 3 to 5 days, then move on to the next. Also, note that you should revise in the same order as the exams. Like start with paper 1, then paper 2, next paper 3, and so on.
  • Read all the concept notes and revise them.
  • For theory portions, learn and revise the main headings of the points and the main keywords in the paragraphs. You should highlight them while you are studying to make revisions easy.
  • For practical questions, revise the formulae/concept notes. Go through the important questions, and see their solution method.
  • Take a mock test after your revision. Use the same pen and calculator that you will use in the CA Final Exam. Sit in a proper exam setting.

How to get a rank in CA Final?

To get a rank in CA Final, you must follow the above tips and strategy. But another important thing that you need is – focus, motivation, and positive thinking. If you have all these, no one can stop you from getting a good rank in CA Final.

Read Also: CA Final Result May 2023

Most Asked Questions

Q1. What are the passing marks for the CA final exams?

Ans. The passing criteria for CA Final Exams are to score a minimum of 40% marks in each subject and an aggregate of 50% in both or one group (whichever selected for one sitting.) ICAI allows some exemptions, which you can read on our website.

Q2. Is it easy to clear both the groups of CA Final in one attempt?

Ans. Yes. If you strategically prepare and complete the ICAI study material, then you can clear both the groups of CA Final in one attempt.

Q3. For how many hours should I study for the CA final exams?

Ans. You have to study a minimum of 8-12 hours daily to cover the complete syllabus and have enough time for revisions.

Q4. Can I clear CA Final exams without coaching?

Ans. If you are clear with the concepts and methods, you can clear the CA Finals without CA Coaching. However, the subjects and syllabus of CA Final are very vast, and many topics can be confusing. So enrolling in a CA Coaching always makes learning easier for you. You can take CA online classes or Pendrive classes if you don’t want to take face-to-face classes.

Q5. Are online classes enough for CA Final preparation?

Ans. Yes, if you choose the right coaching institute for getting online classes, then you can easily ace your preparation for CA Final Exams.

We hope you will ace your CA Final Exams with your preparation. All the best, and we wish you to achieve the dream of a successful career.

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