To most people, the title of this article would sound absurd - but in my experience, it may be challenging, but it is achievable. It is the strategy of preparation which matters the most in an examination, combined with focus, determination and a strong will to succeed.
I am not trying to discourage students who efficiently utilise many months for their studies - this article is for those who, by any reason, have not been able to prepare well and have very less time remaining for their examination. To those students I say, don't give up! It is still possible and achievable for you to pass your exams.
Here's my story. Due to certain unfortunate circumstances and bad choices, I could not study anything at all before my first attempt and failed to clear it. Feeling discouraged and demotivated, I spent the next few months in despair and disappointment. All I could think of was my failure. As a result, I wasn't able to study again and wasted most of my time - before I knew it, there was just one month left for my second attempt.
I decided that this vicious cycle must come to an end. I began to rebuild my confidence and faith in myself. I realised that it is very important to refuse to let the fear of failure take over my mind. I gathered all the courage I could manage and decided that I CAN and WILL clear both groups this time, no matter what. Within half a month, my confidence and resolve to succeed was back.
Now, I was left with 19 days before the first exam. I broke off all social contact and took proper care of my health. I decided that I will let nothing stop me this time - and when you fully believe in yourself, nothing can stop you from succeeding. Based on my experience, I want to share my story and suggest a study plan to those who are in a similar situation as I was. I used the following plan to prepare for my exams and it may work for you too.
Note: This plan will work only if you have taken classes for some subjects and you have some basic idea about everything - if you know absolutely nothing, no one can save you.
1. Create a schedule on paper for the next 19 days. Keep the last 2 days for revising Accounts.
2. Buy a set of Solved Scanners (solved past year question papers) and go through the pattern of papers. CA exams can be quite unpredictable, but still you can get some idea about topics repeatedly asked in every attempt. I know it is advised to study every single topic before the exams, but if you study the most repeated topics first, you can go through the remaining ones in the gaps between exams. On the first day, mark the most-important chapters from each subject and write them down somewhere.
3. Now, you have 17 days and 6 subjects. Do not let this discourage you. Strengthen your determination and take a resolve that you can do this. Believe in yourself and in your capabilities. Each day, tell yourself that it is possible for you. Eliminate all your distractions and prepare yourself to study for around 17-18 hours a day. You will need to invest all of your free time into studying to be able to achieve this.
4. Take your list of most important chapters. Divide the important chapters of Law and Audit equally among the 17 days (not all chapters, only the ones important). You should complete the topics of Law each morning before going on to practical subjects, and complete the topics of Audit at night. Read the questions and answers from scanners only if time is less, as it has limited questions and will save a lot of time.
In Law, start with Ethics and Communications, then go on to Business Law, and then Company Law; in Audit, start with SA and then go on to the chapters.
5. Now schedule the practical subjects.
Divide the important chapters of Costing among the first 4 days, and study them from the scanner. If you are stuck on any topic, refer to that topic from your notes or other material, then get back to the scanner. Don't practice each question on paper, but practice the ones which you are not confident about.
Divide the chapters of Financial Management in the next 3 days. FM is easier than Costing and more scoring.
Don't forget to read the theory as well side by side. Around 30 marks consist of theory in each attempt. When you get tired of the practical questions, take a break and read the theoretical questions from scanner.
6. List out the important chapters of Taxation in the next 5 days - start with VAT and Service Tax. If you read only the questions from scanners, you will be able to complete this in 2 days. Keep the next 3 days to read only the most important chapters of Income Tax. You can read the remaining chapters during the gap between exams.
7. Divide the chapters of IT in the next 3 days. IT is not as tough as it seems. Go through the institute material (only important chapters) and learn the definitions. Practice flowcharts. On the third day, go through the important chapters of SM from the scanner. SM can be done properly during the gap between exams.
8. Advanced Accounts is a really easy subject. If you have taken classes, you will not need much time to prepare for it. Take the next 2 days to go through the scanner and refer to your notes or other books if you are stuck anywhere. You will not have time to practice questions on paper so try to read the answers and retain them in your mind. Focus on accounting standards and amalgamation the first day, and keep others chapters for the next day.
9. Go through the accounts scanner in the last 2 days before the exam. Do accounting standards and company accounts on the first day and do the others on the next day. Memorise what to do by reading answers because you will not have time to practice.
10. During the holidays between exams, go through the entire scanner and read all the important topics as well as the chapters you had left out. If you are left with more time, revise your notes and go through other study material you have.
If you take a decision to succeed no matter what, you will be able to achieve this and clear IPCC. This plan sounds extremely difficult to implement, but I speak from personal experience that it is possible. Do not give up, invest your time and energy into hard work and believe in yourself. Let nothing come in your way. You can do this!
I am Roohani Deshpande, a student of CA Final, who cleared both groups of IPCC with 19 days of preparation. My inspiration to achieve this and to write this article has come from Pankaj Sharma: How to pass "IPCC both group" in just 20 days
I scored 88% in 10th, 92% in 12th, 148 marks in CPT.
If you need any advice or help, contact me on facebook: http://facebook.com/roohani