HOW TO PREPARE FOR CA FOUNDATION EXAMS? (STRATEGY FOR NOVEMBER 2021)

HOW TO PREPARE FOR CA FOUNDATION EXAMS? (STRATEGY FOR NOVEMBER 2021)-> Chartered Accountancy is considered to be one of the most respectable professions in India. But, with all the glamour also comes a lot of challenges. It demands a lot of dedication, hard work, and sincerity. For this reason, students often get demotivated and decide to quit but what is required is just commitment and a never-give-up attitude.

 ICAI conducts the CA exams twice a year (May & November) and to be a CA, you’re required to pass exams at 3 levels: Foundation, Intermediate, and Final.  

Since no one size fits all, there cannot be one particular schedule that would work for all, and hence, you can only adopt some techniques that can help you scale your preparation and hence the results.

 Read ahead to know some of the important tips and accelerate your preparation strategy.

• Proper planning is necessary. Set study targets to cover the syllabus.

The importance of proper planning can never be emphasized enough, whether it’s about your daily goals or for CA preparation, aspirants must start exam preparation by going through the entire syllabus and creating a proper study plan which ensures covering all the topics, at least once. Another important realization is that making a plan is one thing and following it is another, the ones who are successful are sorely the ones who make sure to adhere to it without fail. The aspirants also need to set daily, weekly, monthly, long-term study goals to prepare well and then, make sure to measure the progress. Understand that it is very important to stay true to yourself.

• One must learn to manage and utilize time well.

One of the most important habits that one shall adopt regardless of what they are doing or at what level they are; is learning the skill of time management. You shall understand that the one who masters to utilize time well can never fail at winning. Hence, we suggest all the CA aspirants learn the above skill and blend it into their study schedules.

• Focus on understanding the concepts. Do not skip topics.

Conceptual clarity cannot hold any more importance. One thing that all the candidates shall necessarily understand is that since the syllabus is vast and the difficulty level of exams is also high, the only way to crack it is being very clear about each and every topic. Although focusing on important topics is a good idea but that does in no sense mean that you shall concentrate less on the other topics. Make sure you cover and everything that your study material offers.

• Note down all the important points. Identify your weaknesses.

Candidates must read the study material thoroughly and make proper highlighted study notes of all the topics for quick reference and revision, this would be very useful in the preparation days. Developing more effective note-making practices will help you make your studying less stressful and time-consuming, hence, don’t you ever miss this one! Also, while learning or revising, one must identify their weaknesses, this could be done when you analyze your study habits and patterns and thereafter, you’re required to make a study strategy based on your observations that you think would work best for you.

• Develop a habit of regular revision. Take mock tests.

After you’ve completed all the topics once, make sure you stick to repeated revisions that are regular. Postponing your things now and then won’t give you anything. So, make sure that you are sticking to even the smallest of the targets. Another important point is to attempt mock tests so that you get a proper idea of the exam pattern and it would also help you get a glimpse of the entire thing.

SUBJECT WISE TIPS TO PREPARE FOR CA FOUNDATION EXAMS

• Paper 1: Principles and Practice of Accounting

Let us first discuss the first subject- Accounting. As we know that this subject can only be mastered by a lot of practice. One should always try to complete the syllabus first and then give time to practice more questions which ensures coverage of the entire syllabus. Another important step can be attempting mock or sample papers recommended by ICAI, it would help you get a clearer view of concepts and gain a better understanding of the subject.

• Paper 2: Business Laws and Business Correspondence and Reporting

Business law and BCR are the subjects that are subjective which means that it consists of only theory parts. Both of them need to be done with help of notes and reference material. And most importantly, the study material provided by the ICAI is like a piece of diamond that you can’t lose. Multiple readings and understanding of the topics are the keys to get better marks and scale your results.

• Paper 3: Business Mathematics and Logical Reasoning & Statistics

Since it is an MCQ paper, you may take it a little lightly but remember, what seems to be easy is always the thing that costs us the most. Maths being the hardest subject asks for more time and effort. It needs a lot of practice. The study strategy that could work out the best is understanding the concepts, attempting questions, referring to illustrations, taking up practice question papers, and most importantly, focusing on conceptual clarity.

• Paper 4: Business Economics and Business and Commercial Knowledge

Since this is MCQ based exam, the only thing that can help you pass it is conceptual clarity. Candidates shall make sure to go through the study material thoroughly and make proper notes for each and every topic. You shall also decide to attempt some mock tests thereafter, it would help you understand the exam pattern and make the next study plan accordingly.

Read ahead to get your dose for motivation!

We all dream of exponentially changing our lives but what defines it is its framework to set goals. It starts with defining the goal, developing a plan for it, building required habits, and most importantly, believing.
One thing that we all need to understand is everything that we can believe can happen and that’s exactly why we shall clearly define our end goal. It often seems scary but it’s definitely better than regretting later on the missed chances.
So, make sure to get rid of all the thoughts that stop you from taking action. What can help you to do it is being able to visualize the end goal, more specifically the ‘why’ behind your goal.
Anything and everything that can fuel you to take action and not quit is what you’ve to stick at and that’s the only secret that can help you achieve your wildest goals

Also read:-
How To Concentrate On Your Studies?
SMART AND EFFECTIVE STUDY TIPS FOR EXAM PREPARATION