Chartered Accountancy! One of the toughest course in the country. A course which opens the doors for countless job profiles. A single profession which gives both name and fame. A profession which seems to be the biggest challenge.
Lakhs of students appear in CA Exams every year out of which only 5% of the entrants become CA. Why people are so much scared of Chartered Accountancy? Is that really the toughest course or candidates are failing due to the lack of guidance.
In this article, we are sharing with you some career tips which can help you to become a successful chartered accountant easily. But before knowing these tips, let’s have a look first to the steps in CA Curriculum. CA course is divided into three stages namely CA Foundation, CA Intermediate, and CA Final. Here we are mentioning tips at each level of CA Course. Have a look –
Career tips to Become a Chartered Accountant
Chartered Accountant Foundation
CA Foundation is an entrance test in the Chartered Accountancy course. One can register for CA Foundation after completing XIIth Examination. Once you get to enroll in this course, you will have to undergo four months of the study period to appear into the Examination. Four Months are enough to prepare this entrance test. Only you have to adopt a correct strategy.
The whole course of CA Foundation is divided into four subjects, two of which are based on subjective paper-based pattern and two on objective paper-based. Besides this, the student needs 40% in each subject and 50% in aggregate of all the subjects to crack CA Foundation exam.
Study Tips to Pass CA Foundation
- Revise the Similar Subjects Thoroughly – If you look at the CA Foundation syllabus, you found that the course is much similar to your senior secondary classes (Commerce Stream). You are already familiar with the subjects like Accounts, Maths, Economics, General English. The only new subject you will introduce here will be Mercantile Law. This means you need to revise these subjects again and again and prepare just one subject. Thus, instead of taking CA Foundation lightly, give at least three-time revision to all your course.
- Prepare Two Subjects for Exemption – As we already discussed, that you need 40% in each subject and 50% in aggregate of all the subjects. Due to this condition, students often fail to score aggregate percentage even after successfully attaining 40% in each subject. Hence, you need to prepare atleast two subjects for exemption which can cover your aggregate percentage. If you belong to commerce background then Accounts is one of the options in which you can easily get the exemption.
- Command on the Calculator – As you are new to CA Profession, so you should know that ICAI does not want you to do the labor work. It actually tests your knowledge, your IQ and your basic sense to solve the general queries. A 12-digit calculator is permitted in the CA Exams. Paper is lengthy hence, you need to grab a command over the calculator. Learn the short keys like M+, M-, GT etc. which can save your time in the Examination hall.
- Practice Mock Test Paper by ICAI – ICAI conducts Mock Test for CA Examination in every attempt. You should attempt at least one Mock Test before the Exams. It will prepare you for the Final Examination. You can not only evaluate your preparation through these Mock Test Papers but also prevent yourself from getting fail into the final Exam.
These are some of the tips which every CA Foundation aspirant must consider. These tips would definitely help you in clearing CA Foundation in the first attempt.
Chartered Accountant Intermediate
CA Intermediate is the next level after CA Foundation in the Chartered Accountancy course. After registration in this course, one has to complete eight months of the study period to appear in the Exam. The course of CA Intermediate is divided into eight subjects which further divides into two groups. Passing percentage is similar to CA Foundation.
Study Tips to Pass CA Intermediate
- Join the Coachings Timely – The syllabus of CA Intermediate is vast which is difficult to cover in just eight months. You need to join the coachings timely at this level, better to join as soon as you get register. Coachings must get complete at least two months before the final exam so you get enough time to do the self-study.
- Clarity on the Concepts – This is not B.com or your school exams where you will get the marks by filling copies. Each and every concept is crucial here. You never know how ICAI will give a tricky question from the easiest chapter. If your concepts are clear, you will never afraid with such questions. So, make sure that your concepts are always clear.
- Timely Revision – As the course of CA Intermediate is vast hence it is difficult to retain the things. You need to revise entire syllabus at least three times before the Final Exams. Don’t plan like, let the coachings complete first then we will start the revision. Whatever you are studying revise it every 19th day. If you procrastinate your revision, it will be difficult for you to mug the entire syllabus in last month.
- Decide Single or Both Group at least two Months Before the Exam – Often students could not decide that they should switch to one group instead of both till the last month before the exam and last moment decisions become a disaster for such people. Both or Single, whatever you are appearing, just analyze your preparation and decide at least two months before the examination. If you feel that both groups could be burdensome then you should switch to single.
- Mock Test – Again, here also Mock Test is a must. It shows you a true picture of your preparation.
CA Final is the last stage of Chartered Accountancy course but the actual journey of a CA Student starts here only. After clearing CA Intermediate, students along with CA Final has to register themselves for three years of practical training. A student has to serve under a practicing Chartered Accountant for three years. These three years are not less than a challenge in the CA students journey.
Tips to Pass CA Final
- Consistency is Important – Most of the CA Students get stuck into this course at the Final Level only. The reason behind their failure is rigorous three years of practical training. It is very difficult to continue CA Final studies along with articleship training. But you have to maintain consistency if you wish to clear CA Final in the first attempt.
- Take Articleship Seriously – After reading the first point, you might be thinking to go for dummy articleship. But dummy articleship can be the biggest mistake of your entire CA journey. This can make you regret the whole life. Articleship Training is the crucial part of CA curriculum, hence you need to take it seriously. Most of the big corporates identify a student in just a few minutes whether he has done articleship or not and select only those candidates who have properly done their practical training.
- Presentation in the CA Exams – The moment you clear CA Final, you will be recognized as Chartered Accountant. Hence ICAI is expecting you to become a true professional at this level. Giving correct answers is not only important, but you also need to present them properly. The presentation in the CA Exams is one of the important factors which can make a big difference in your marks.
- Do not ditch any topic – If you look at the past attempt papers, you found that ICAI does not follow any trend. Anything which you consider less important can be asked in your examination. Hence, do not ditch any single topic. The selective study could not make you Chartered Accountant unless you are very lucky.
- ICAI Modules – At the CA final level, ICAI modules are the best notes one should go with. It covers the complete syllabus and numberless questions as well. Even if you want to refer some reference book then also you should cover ICAI study material.
- Revision and Mock Test – Again, here also revision and Mock Test plays a crucial role. The syllabus of a single subject in CA Final is similar to the whole course of any other profession. Therefore, more and more times you revise the course, the more you will retain it in the paper and definitely, Mock Test is the best way to evaluate your preparation.
Becoming a Chartered Accountant is one of the dream profession of every commerce student. But CA is not easy until you prepare for it under a correct guidance. Hence, in the above article, we have discussed some career tips which every candidate must follow who wish to become Chartered Accountant without taking any extra attempt.