Hello professionals,
I am writing this article to share my personal experience regarding CA Final preparations with you. I have recently cleared both groups of CA Final in May, 2016 examination by 4 month preparation and TOTAL SELF STUDY. In this article, I would like to give you certain tips for passing these exams. My aim is to encourage self-study and motivate students who can't afford private tuition fees. (Trust me people you are not missing anything by not attending classes).
Subject-Wise tips
General tips
- Always remember and believe that institute material and your preparation will be more than enough for passing in exams.
- Don’t use smart phone and social media during these 4 month period.
- Divide your day in three phases:
- Phase 1: FR, costing and law (4am to 12 pm)
- Phase 2: Audit, ISCA and SFM (1pm to 7:30pm)
- Phase 3: IDT and DT (8pm to 12am)
- Stay away from every type of distraction and focus to achieve for which you have already invested 4-5 years.
- Remember that no one is guaranteed to pass with Coaching class preparations.
- Have relaxation breaks of 15-20 minutes if you are tired.
- Always try to attempts 100 marks in every paper.
Financial Reporting: Priority of important topics
- Value added statement
- AS and Ind AS
- Valuation
- Amalgamation
- Misc. chapter ( ESOP, NBFC, Mutual fund, etc.,)
- Consolidation
Always attempt consolidation at the end in examination .
Miscellaneous topics, valuation, AS and Ind AS are most important.
Always keep a standard set of journal entries while preparing for amalgamation.
Reference Book: Tulsian Self-study book (most comprehensive book)
Institute material
Strategic financial management:
- Be very familiar with formulas and keep separate book for formula.
- Always have a clear concept regarding basics (you should know what is the meaning of all the terms used in books)
- Theory is asked for minimum 16 marks so don’t ignore theory questions while preparing.
- Amalgamation, Mutual fund , Dividend policy and bond valuation are important and easy topics.
Here I am attaching formula book of gaurav jain for your reference.
Books: institute material
- Ravi Kishore book
- Gaurav Jain formula book
Audit and law:
- For these subjects the way you write the answer is very important and language is the key to score.
- The answer at these level of professional exams demand some level of professionalism.
- Just read institute material and use that language only while answering the questions in exam.
Books: Institute material
Costing:
- There will be some topics in OR for which institute material is not enough, for that refer youtube lecture of Dani sir.
- Make a formula chart for standard costing and other chapter.
- Theory is equally important.
- Practice more and more with clarity of concept.
Books: Institute material
ISCA
- This is the easiest as well as toughest nut to crack.
- Only refer institute material and revise for at least 6 times.
- Always remember titles in chronology.
Books: institute material
DT and IDT:
- Amendments should not be ignored.
- Service tax should be priority and thoroughly studied for IDT.
Books: Institute material
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