Chartered Accountancy (CA) is among the most prominent qualification in our country. The Institute of Chartered Accountants of India (ICAI) is the regulatory body responsible for conducting the CA exams. Students who complete the final exam, conducted by the institute, are then absorbed by the industry as qualified chartered accountants. Students have to clear three exams particularly CPT (entrance exam), IPCC (Intermediate exam) and the final CA exam in order to pursue the CA degree.
Students who wish to apply for CA can attempt for CPT exam after completing their 10+2. Once the CPT exam has been clear, students can appear for the IPCC exam after nine months of preparation. The IPCC exam consists of subjective questions based on the law, audit, tax, etc. compared to the objective questions in the CPT exam. After qualifying in the IPCC exam, a student has to work as an intern under a practicing CA for a duration of 3 years before being eligible to appear for the final exam.
Passing the exam is not as difficult but requires proper planning and strategy. Below are the few important tips for students preparing for the CA exam.
Time Management: Setting up your time management is key to cracking the CA examination. You should set your goals high and give up on time-wasting activities. You should build a strategy for time management and attach to it. Schedule your study time for each study period with a 3-4 hour duration.
Consistent Study: Studying daily is necessary for passing the CA exam but spending more than 10-12 hours in the study can strain your brain. You can practice previous year question papers for each subject within a specified time limit. This practice will help you to complete your final exam within a timeframe, giving you some time to re-check your answers at the end.
Self Evaluate: Practicing is the self-evaluation method for knowing your strengths and weaknesses. Practice will also make you feel confident and prepared. Strengths, weaknesses, opportunities and threat evaluation of your answer paper will help you to prepare better before the final stage. By this technique, you can strengthen your weak areas so that you score well.
Systematic Revision: CA study has a large portion to cover. You need to have a systematic revision technique to complete the syllabus. Divide your syllabus into smaller sections and then revise.
Attempt Mock Tests: Mock test gives you the exact feel of exam and the best way to be prepared. You will get to know the types of questions that can be asked in the exam. Mock tests not only check your knowledge but also your speed and writing skills all of which play key roles for your performance. These tests will help you set your time limit when you answer.
Be positive: The last phase of the CA race can challenge you mentally as well as physically. Being positive and calm will increases your confidence and helps you achieve a good result. If you're too worried about your exam, it might hinder your best performance.
It's important to crack every level of CA exam to be a certified Chartered Accountant but that doesn't guarantee you a successful career path. In order to be selected by a good CA firm it is necessary to score well.