CA Final Group 1 Study Strategy for Upcoming CA Exams

Shreya Kokate | Last updated: 07 February 2021

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Quick Summary

This strategy is designed for students focusing solely on Group 1 of the CA Final exams, with approximately 80-85 days remaining. It outlines a structured approach, dividing study time into first reading, multiple revisions, and pre-exam preparation. The plan suggests studying one practical and one theory subject concurrently, offering specific tips for Financial Reporting (FR), Strategic Financial Management (SFM), Auditing, and Law to maximise your chances of success.

Strategy for students appearing only for Group 1 in upcoming CA exams

Considering that exams will be held in May 2021, we have approximately 80 to 85 days left in our hands. This study strategy would be helpful for students appearing for Group 1 only.

To begin with, students should first roughly calculate the number of days available with them before exams. Further, they should divide the number of days into different parts, for example, days required for completing the first reading, first revision, etc.

I have tried to make a simple subject-wise calculation of the days available before exams for your reference:

CA Final Exam Prep Strategy: Group 1 Success

	Start Date	Tentative Exam date	Total days left
	06-Feb-21	01-May-21	84
Group I:
Subject/ Number of days	1st Reading	1st Revision	2nd Revision	3rd Revision	Pre-Exam Revision	Total
FR	12	4	2	1.5	1.5
SFM	12	4	3	1.5	1.5
Audit	12	4	2	1.5	1.5
Law	12	4	2	1.5	1.5
Total number of days	48	16	9	6	6	79
Buffer days						5

Since Group 1 has a mix of 2 theory subjects and 2 practical subjects, it is advisable to do study 1 practical and 1 theory subject together.

I would like to give some general tips for the subjects in Group 1:

For FR, do prepare a concept register which will consist of all important concepts and important adjustments in sums that you could not crack in the first attempt. Identify those sums which consist of maximum difficulty level or covers the majority of the concepts so that you can revise these sums only just before the exam day.
For SFM, do prepare a formula/ concept register and jot down all important concepts and formulas you come across which studying. Revise this formula book after every 15 to 20 days. In SFM, identify the different types of sums in a particular chapter and just revise the unique type of sums before the exams.
For Audit, don't keep any chapter in the option. Start your preparations with scoring and easy topics like Professional ethics, Company audit and then go for other chapters and Standards on auditing. Try practicing as many questions as you can from any scanner of your choice.
For Law, make sure all your concepts are clear because even though you don't remember the exact section in the exam, you can write the answers based on your conceptual clarity. As law is a vast subject, make sure you keep revising it twice before the exams. For Allied law, I had referred to youtube revision lectures of renowned professors and their summary charts for revising.

The author can also be reached at kokateshreya3@gmail.com

Attached File : 2625950_43910_group_1_study_strategy_for_may_2021.pdf

FAQ :

There are approximately 80 to 85 days available for students preparing for the CA Final Group 1 exams.

It is advisable to study one practical subject and one theory subject together in Group 1.

For FR, prepare a concept register for important concepts and difficult adjustments. Focus on revising sums with the highest difficulty or those covering multiple concepts.

Create a formula/concept register for SFM, noting down all important concepts and formulas. Revise this book every 15-20 days and focus on unique types of sums.

Do not skip any chapter in Auditing. Start with scoring topics like Professional Ethics and Company Audit, then move to other chapters and Standards on Auditing. Practice as many questions as possible.

Conceptual clarity is crucial for Law, as it allows you to answer questions effectively even if you don't recall the exact section. Regular revision is also recommended due to the subject's vastness.