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It's a common issue that we students often face when exams are approaching which is how to actually plan and start preparing for the exams. As a CA Final student, I too faced the same issued. But, as usual, through trial and errors, I figured out a really optimized way to approach the exams and with enough to revise each subject. In the ensuing paragraphs, I will convey the complete plan which I followed and how it actually helped me to complete the syllabus and revise comfortably.

Prerequisites

  • Must have completed the classes for all the subjects.
  • This article is for those students who are going to take their preparation leave or are in their preparation leave.
  • Prioritise ICAI's study material only.
How to comfortably complete CA Final course and revise it at ease within 105 days

Let's begin with the plan that I followed

1. Financial Reporting

I planned to complete this subject within 12 days considering I study for 10-12 hrs each day. I was quite afraid of this subject because of the quantum of the syllabus. For revision and concept videos I used YouTube videos of Pratik Jagati and Atul Agarwal. But then I researched a bit and made list of the chapters I would approach in sequence. I followed this sequence along with solving the question bank for each chapter:

  • Day 1- Financial Instruments
  • Day 2- Business combination
  • Day 3- Consolidated financial statements
  • Day 4- Ind AS 115
  • Day 5- Ind AS 116
  • Day 6- Ind AS 102, Ind AS 33 and Ind AS 12
  • Day 7- Ind AS 36, 16, 38
  • Day 8 onwards remaining chapters.
 

2. SFM

The planning to complete this subject was within 7 days. For revision videos I preferred Pawan Karmele Sir's revision videos on YouTube. The sequence of chapters I followed was:

  • Security valuation (day 1)
  • Corporate valuation (day 2)
  • Merger and acquisition (day 2)
  • Forex (day 3)
  • International financial management (day 3)
  • Derivatives (day 4)
  • Mutual funds (day 4-5)
  • Interest risk management (Day 5)

3. Audit

It's the most scariest subject for most of the student's out there. But I find it quite easy and scoring. I did not take any classes from anyone. I self-studied this subject. I followed this simple planning sincerely and was able to complete the subject with ease:

  • Day 1- 3 SAs + Audit of banks
  • Day 2- 3 SAs + Audit committee and corporate governance
  • Day 3- 3 SAs + Audit of insurance companies
  • Day 4- 3 SAs + Audit of consolidated financial statements + automated environment
  • Day 5- 3 SAs + Audit under fiscal laws
  • Day 6- 3 SAs + Audit of PSU + Audit of NBFC
  • Day 7- 3 SAs + Professional Ethics
  • Day 8-11 - Remaining SAs and then revise the most difficult to remember chapters once again.

4. Law

The second most scoring and easiest subject after SFM. Chapters I will mention are from ICAI's study material. The sequence is like this:

  • Chapter 3 of directors (day 1) it is lengthy that is why took one day to prepare.
  • Chapter 1 of directors (day 2)
  • Chapter 2 of directors (day 2)
  • Oppression and mismanagement (day 3)
  • Compromise and arrangements (day 3)
  • Inspection and observation (day 4)
  • Foreign companies (day 4)
  • Nidhi, special court, registered valuer (day 5)
  • IBC, 2016 (day 6)
  • PMLA (day 7)
  • FERA (day 7)
  • Arbitration and conciliation (day 8)
  • FEMA (day 8)
  • Complete winding up chapter at last because return on time investment on this chapter is low and it's a huge chapter.
 

5. SCMPE

Do not be afraid of this subject. Just follow the revision lectures of each chapter available on YouTube and proceed to solve the question bank for the respective chapters. Revise the theory concepts 2-3 times. I gave each chapter one day. So, 11 chapters completed in 11 days.

6. Direct Tax

By far the most practical subject in group 2. You can't avoid any chapter but there is a way to approach it properly. Solve the question bank for each chapter respectively.

  • Day 1- Transfer pricing + DTAA
  • Day 2- NR taxation
  • Day 3- Taxation of Trust
  • Day 4- TDS, TCS and advance tax
  • Day 5- PGBP
  • Day 6- Capital gains + Income from other sources
  • Day 7- Optional taxation schemes for individuals and companies
  • Day 8- Return and assessment procedure
  • Day 9-12- Remaining chapters.

7. Indirect Tax

I self-studied this subject. I took a target to complete the whole syllabus within 8 days. Prefer study material from ICAI. It's the best material to follow. Everything is clear and in layman language to understand. Of course, solving question is mandatory.

After completing the course I revised the course in the following manner

  1. Law: 3 days
  2. SFM: 3 days
  3. Audit: 4-5 days but I continued to revise on daily basis in morning for 2 hrs till exams.
  4. Financial reporting: 5 days right before the exams and during the preparation leaves too. Which amounts to total no. Of days given is 10.
  5. SCMPE: 5 days
  6. Direct tax: 6 days
  7. Indirect tax: 4 days

  

Published by

Anurag Pal
(Content writer)
Category Students   Report

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