Hari, yes you can study on your own!
Follow the study materials issued by the ICAI, and other publications by them like Compilers, Suggested answers and Practice Manuals.
Since your attempt is in May 2014, you have ample time left. Frame a timtable and stick to it.
Make sure you cover all the topics.. Dont do selective studies. In case you have any doubts, you can always turn up here and clear your queries!
Spend more time on the subjects you feel difficult.
With regards to Theory subjects, make your own notes as you progress learning those chapters..
Make sure you have enough time for revision before your exams..
Believe in yourself, stick to your timetable.. and work hard!
Wish you all the best!