Options  for  CA  failure  students

The  term  CA  failed  students  is  too generic  to  comment.  It could fall in any of the following categories  :

1. A  student  who  has  failed  in  his  IPCC  a couple of times
2. A  student  who  has  failed  in  his  IPCC  more  than  4 times
3. A  student  who  has  failed  in  his  CA  Final  a couple of times
4. A  student  who  has  failed  in  his  CA  Final  more  than  4 times 

The  reason  for  classifying  as  above  is  if  a  student  has  failed  either  in  his  IPCC  or  CA  Final  just  a  couple  of  times,  there  is  no  real  reason  for  him  to  panic  or  feel  frustrated  as  70%  of  the  students  fall  under  this  category.   With  the  results  of  these  exams  being  as  mean  as  it  is,  this  is  bound  to  happen.  However  if the  student  has  not  been  able  to  clear  the  exams  (not even a group  to  give  him some  comfort)  more  than  4 times  then  one  has  to  look  at  viable  alternatives.   Since the action plan for categories 1 and 3 are similar, am combining the same to avoid repetition. 

IPCC / CA Final  failed  a  couple  of  times

The student has to do the following in such a case :

1. Get his answer paper copies from the ICAI and get the same reviewed by a qualified person.
2. He needs to identify a mentor who should be able to identify his weak areas and guide him on how to go about his preparations with special focus on his weak areas. 
3. He has to write multiple mock tests to ensure that the corrective action planned has been implemented.  For this purpose, he has to get his answer sheets evaluated by a qualified person. 

Once a student does the above, the probability of his passing the exams gets much better. 

IPCC attempted more than 4 times

If a student has religiously followed what has been suggested above for students who have not been successful in their IPCC for a couple of times but still has not been able to achieve the desired results for more than 4 times, then it is time to think of Plan B.  It is to be clearly understood having a Plan B is not a reflection of a student’s incapability but rather an assertion of his understanding the ground reality and taking appropriate corrective action for his success.  There are innumerable cases where students have done this and been very successful in  their career and life.   After all its not for nothing did Sir Winston Churchill state “Success is  nothing but going from failure to failure without loss of enthusiasm. “

A student who falls in this category must have completed his B.Com by this time on the presumption that he was pursuing the same along with his preparations for his IPCC.  Thus he must have spent at least 3 years by this time on CA (including CPT) and hence needs some immediate dose of confidence to ensure that his Self Esteem stays put.   The need of the hour here is some short term Certification Courses that does not exceed 12 months duration but at the same time gives him the shot in the arm to kick start his career meaningfully.   The CMA from the US and the CIA from the US are two programs that immediately come to my mind.  These are short term programs (a candidate can expect to complete the same in less than a year if he is committed) and enjoys global recognition.  With many MNCs setting up shop in India these courses are picking up in demand and is expected to soon become well sought after.   With  the  focus  on  Application, Analysis and Evaluation more than mere Remembering and Understanding, these courses precisely meets the needs of the industry today in the global scenario. 

Final attempted more than 4 times

Similar to IPCC, Plan B becomes essential for students in this category also.  In addition to the CMA and  the CIA programs detailed above, the Certified Public Accountant (CPA) of the USA also becomes a very viable option for a student who has cleared both the Groups of his IPCC but not able to clear his CA Final.   Again with just 4 papers to be completed,  a committed student can complete this program in 6-12 months time frame.   With the flexibility to write the exams paper by paper (similar to the CMA & CIA) this program gives is a real boon for students wanting to earn a global certification in finance and accounting. 

Annexure gives a summary and comparison of the CMA, CIA & CPA for easier understanding.