With November 2010 exam less than FOUR months away, this is the best time to start preparing for the Exams. This text is a guide to prepare for CA final. A word of caution this guide is NOT A SHORT CUT for passing CA Final as we believe there is NO SHORT CUT for passing CA final. Only hard work, strategic planning, smart reading, time management & strong determination will lead you to success.
Preparation for CA final can be divided into THREE STEPS:
STEP I : PLANNING
“ BEST time to decide whether you want to appear
for BOTH group or ONE group. For an average
student four months time is ideal for the
preparation of CA Final exam provided he does
not lose track from studies.
" Student must know his or her input output ratio. The INPUT OUTPUT
RATIO can be calculated by dividing "total number of hours studied"
with the "number of hours of study understood" by the student. Based
on this ratio the timetable should be prepared.
" Ideally one should study for at least 12-15 hours a day. This should be
understood to mean you should be able to have an output of 12-15
hours.
" Content selection: Next step is to find out "from
where to study?" A student must list out best
available reference books, Institute's study
module, Revisionary test papers, Suggested
answers, Compilation. First study should be to
understand the CONCEPT (not to memorise).
" Assign priority to subjects as per your capabilities. Priortise subjects on
the basis of your comfort level with various subjects. Some students do
well in practical subjects whereas others are good in theoretical
subjects. A mix of one theory subject and one practical subject will do
wonders to break the monotony of the subject.
" Assign priority to each topic of a subject. During first study, go through
each and every topic thoroughly. Don't leave any topic for last time.
Also avoid taking up new material in the last time.
" Prepare time table considering above factors. Break down the same
into weeks and further into days. Allocate ample time for your other
daily activities (including 7 hours of sleep daily), which should take
around 12 hours. Also don't forget to take time for short breaks in
between studies.
" Allocate / plan your total time available for study in such a way that one
(thorough) study + two revisions can be done in four month's time.
Calculate total time in terms of number of hours required for first study
plus two revisions. Your first revision should take approximately half
the time spent in doing first study and your second revision should take
half the time spent in first revision. So the ideal ratio of time for first
study, first revision & second revision comes to 4:2:1. This means that
if you take 4 hours to study a topic in your first study then the same topic
in first revision should take 2 hours and same way in second revision
should take 1 hour.
" Always highlight important paragraphs / topic while doing first study.
This will help you in doing quick revision in first or second study and
also in doing fast track revision just before the exam day.
" Be sure to ACHIEVE your target in terms of number of hours for the day.
One should analyse his / her performance of the previous day to check
whether the same is per scheduled timetable. If necessary, make small
change in your time table to make it achievable. In short your time table
must be practically achievable.
" If your are planning to get a rank then follow this from the beginning.
Wake up every morning with your GOAL in your mind. Work on your
strength as well as your weaknesses. Before starting your studies
repeat this line daily "I aim to get a rank in CA Final".
" Take at least 2-3 subjects in a day. Possible combinations for one
practical & one theory subject can be Financial Report & Corporate
Law, Strategic Financial Management & Auditing, Direct Taxes & ISCA,
Management Accounting & Indirect Taxes.
" Divide each subject into different topic according to weight age. Do
topics which carry maximum marks but require minimum time to
complete. Like in Direct Taxes wealth tax carries 10 marks, in Law
small Acts like Competition Act, Banking Regulation Act and
Interpretation of Statutes carries 6 marks each. This way you are
assuring that minimum 18 marks are confirmed.
" For subjects like DT, IDT, Law includes latest amendments, case laws
in your studies. As latest amendments are favorites of paper setters.
" Also try to link common topics under different subjects. Like some
topics in Law & audit are common, completing such topics at one go will
save your time. On the other hand some subjects have topics which
must be done in a sequence like in Strategic Financial Management
(SFM) time value of money must be completed before taking up Capital
Budgeting chapter.
" Start with a weakest subject as this will not only give you enough time to
understand the basic concept but will also take away your fear for the
subject.
" Prefer Studying in the morning hours as human brain is at its peak after
a good night's sleep. Your energy level is more as well as there are
fewer disturbances in the morning. This way you will be able to
concentrate more on studies.
" Have a dedicated studying area with least
disturbances (switch off your mobile phone while
studying). Also sitting in correct posture in
comfortable chair with proper lighting will improve
your input output ratio. Eat simple food during your
study period till exams are over. Take a lunch or snack
break in between your study breaks. Avoid eating out just before the
exams as this will decrease your probability of getting sick.
" Revise whatever studied during the day before you go to sleep. Also
daily revision of previous day's study will help you in memorising.
STEP II: READING SCHEDULE
" The sheer volume of subjects like Audit , Law, Financial Reporting will
make you fear the subject and AS ,SA & GN will make even things
difficult. But fear of AS ,SA or GN can be overcome over a period of
time by doing 1 Accounting Standard (AS) or Standard on Auditing
(SA) or 1 Guidance Note (GN) daily.
" Don't ignore theory portion of practical subjects as it helps in passing /
getting good marks (in subject like SFM theory portion carries a
weightage of 15-25 marks).
" If you are taking coaching for any subject then always revise topics
covered in the classroom. Do the assignments given in the classroom
on a regular basis. Use short cut methods like MNEMONIC technique
for memorising theory portions/ subjects.
" Continuously studying 9-10 hrs daily for 4 months can be stressful,
keep stress at bay by resorting to meditation, pranayam. Even Simple
breathing exercises during study breaks will ensure supply of fresh
oxygen to the brain.
" Write at least two previous attempts' question papers under simulated
exam condition. This will make you work on your writing skills and time
management in writing exam papers. Always self access your score
this will help you in knowing your strength & weaknesses.
Step III Exam
" NO reading ½ an hour before going for exam. Before you go for the
exam you must relax your mind. Reach Exam hall ½ an hour before
exam schedule. Do not forget important things for exam like a good
pen, your admit card, scale, calculator etc.
" Have enough sleep before each exam. Relax your mind
" Do some preparation and calculate time in minutes to be allotted for
each mark. Like you may allot 1.6 minute for each marks. Follow the
same while attempting paper. Also make sure leave enough time for
revising/ checking your answer sheet.
" Read the question paper properly and answer WHAT HAS BEEN
ASKED IN THE QUESTION.
" Attempt sub question in sequence, tie up your answer sheets, use
single colour pen, always cross the blank sheets.
" Solve practical questions in a step wise manner and
make working note a part of your answer. In theory
question underline main points. But institute
PROHIBITS use of highlighter or pencils, so avoid it.
" While attempting practical questions of subjects like law, DT, IDT
mention provision of relevant sections, relate the given question with
provision and give conclusion.
" Don't discuss question paper after exam.
LAstly i would say nothing succeeds like success. Good luck Happy studying...........................
CA Shailaja