If you want to pass with flying colors and score high marks in the CA Foundation exams then you must be willing to put in the hard work that is required. CA foundation exam is an entry-level exam for the Chartered Accountancy course. This course focuses on bridging the gap between the entry-level and the further levels of the Chartered Accountancy course, Foundation course consists of 4 papers. Two of them being subjective and the remaining two are objective. The syllabus of the exam is a little similar to the 12th grade commerce stream syllabus. Students from the commerce stream find it comfortable studying for the Foundation exam. Scoring rank in CA exams is not easy, but with consistent practice, hard work, and revision it is very much possible.
In this article, we are going to discuss the things you can do to crack this exam in a few months and score rank, but the difficult part is execution and which is something you can do.
The entire CA Foundation course is divided into four subjects –
- Principles and Practices of Accounting.
- Business Laws and Business Correspondence and Reporting.
- Business Mathematics and Logical Reasoning and Statistics.
- Business Economics and Business and Commercial Knowledge.
A 12th pass commerce stream student must be accustomed to the vast majority of the subjects. The first two papers of the course being subjective and the latter two being objective. It is important to keep that in mind while studying. The students are supposed to start studying in the 12th standard.
We will share with you a strategic plan through which you can score a rank in CA Foundation Exams. After completing the procedure of filling the form for CA foundation, students can start implementing these tips. But this is just a strategy, execution will always be hard, but it’s important to put in efforts keeping in mind the goal. So, without wasting time, let’s dive into it–
1. Divide your time between two subjects –
One thing you need to do is not read-only one subject throughout the whole day, instead of that you should cover two subjects. It will improve you cover the syllabus. If you focus and read only one subject at a time for the whole day it will get a little bit tedious. So, you should study at least two subjects during a day and try to keep up with one practical with one theory.
2. Don’t be overconfident –
You are aware of the fact that the CA Foundation syllabus is a little similar to your 11th and 12th standard class. So let’s not get overconfident of the fact that you will need only revision to clear this exam. As there are also some topics which are newly introduced and also there are Corporate Laws which is quite difficult and you may have never gone through. So, you have to read these subjects thoroughly. Besides this, if Accounts or Maths are your stronger subjects then you can easily cover this and focus more of your time on remaining subjects without wasting your time. You can boost your percentage in these subjects. Considering everything understands that this is not 12th std paper, these are CA Exams. Paper will not be at a similar level as other subjects.
3. Master the art of using a calculator –
As you are starting with the Chartered Accountancy course, a calculator is something you will be using a lot in this journey, so the use of the calculator is also new to you. The calculator is something permitted in the CA exams (12 digit calculator). And the paper in CA exams are always lengthy and if you are not sure how to use your time more carefully, you must learn it along the way, smartly using the calculator is one of the steps you can save a lot of your precious time in exams instead of spending it on calculating it away. You should learn to use M+, M-, G buttons. These few buttons can protect a lot of your important time in the exam.
4. Do not refer to more than one teacher’s notes –
Best material to study is the one material offered by the ICAI but many students are not comfortable with the resources provided by the ICAI. In such a case, it is always better to go with many notes available in the market and choose what best suits your needs. But make sure to not refer to more than one more teacher’s notes. Instead of referring to many books, you should revise the syllabus many times from the same book. Referring to 10 different teachers for notes is going to end up making you more confused. So try to not do that.
5. Cover the Entire syllabus –
You are not reading just to pass the CA Foundation exam. You want to get to the top score in Foundation Exams. So, cover each topic thoroughly try not to skip any topic. When you are competing for good rank each single mark counts and you don’t want to lose any arks just because you were not able to cover the topic.
6. Improve Presentation –
Yes!!!! Now you will have to focus on your presentation skills. In CA Foundation giving the only correct answer is not sufficient, apart from giving the correct answer you also need to learn to present your answers in the best possible way. As presentation matters a lot in CA Exams. Besides that, the two papers, Principals and Practices of Accounting and Business Laws and Business Correspondence and Reporting will be subjective. So, you must be prepared for that.
7. Revise Thoroughly –
You will only be able to answers the topics you have revised thoroughly before exams. So, keep your last month of preparation only for revision. That means you have to complete the syllabus before that. Revise a minimum of three to four times for each topic.
8. Prepare your notes in Chart Form –
It will be very beneficial if you prepare your notes in Chart form. Cover all the topics in those charts. As it will become easy for you to revise before exams. And this chart will help you revise the complete syllabus in a single day.
9. Attempt maximum questions in objective papers –
One correct answer will give you one mark while a wrong answer will take away your only 0.25 marks. This means one right answer can help cover for 4 wrong answers. So, if you doubt some questions still try to attempt them. Maybe your guesses can end up being right. It would help a lot. But always attempt questions first for which you are confident.
10. Mock Test Papers –
We suggest you at the very least attempt five CA Foundation mock test papers. And if possible, give the mock test papers conducted by ICAI. You will get a feeling that you are appearing in the exam. In this way, you can assess your weakness and strength and work on them accordingly. Get to know about your speed, work on managing your time in the final exam. Don’t be afraid of failing in the MTP’s. Because losing in the mock test papers is way better than losing in the Final examination.
These are a few tips that you can follow that can push you towards scoring high ranks in the Foundation exams success. But at the end of the day, all these tips and advice will only work if you make it work, you execute the plan properly and put in all the efforts that are needed to get the work done and score really good marks to score top rank in the exams.