The exam fever is high as the CA Foundation Exams are approaching and all of you must be busy preparing for the exams. The foundation exam is the entry-level exam for the Chartered Accountancy course. The Exams are conducted twice every year in the month of May and November.
In this article, we will find out how hard it can be to clear Foundation exams, the difficulty level, and the things you can follow to pass your CA Foundation paper with flying colours.
Before we dive into the topic it is important to understand why CA exams are considered to be the toughest in the world.
- Lower success rate – Around 12 lakh students from all over India appear for 12th std, out of which 70000 students choose to give CA Foundation and out of which 28000 students are passed in this exam.
- The evolving nature of socio-economic laws – There are always changes in the economic reforms as well as in law and taxes which makes it quite hard to keep a track of all the updates.
- No proper guidance about the profession – With only less success ratio, there are many failure cases left. Ergo students perceive a lot of negative responses and uncertainty about the course.
- Extensive syllabus – Though ICAI has made clear the syllabus and topics for the exams, it is huge and students are overwhelmed and end up over or under preparing for the exams.
- Not having proper coaching facility – From the past few years, there has been a significant rise in the private Institutes providing coaching for CA exams, very few of them actually have qualified and skilled teachers to guide students correctly. Students end up studying in average CA coaching classes which affects the quality of their studies.
These are the few things that might affect the Foundation exam preparation and may make it look difficult to pass in but with proper planning and few tips, you can easily overcome the fear of exams and pass it without any difficulty. Below are the tips you can follow.
1. Go through the syllabus thoroughly –
ICAI has shared the topics of the syllabus in great detail on the website. The first and foremost thing you can do while preparing for exams is to cover each and every topic by heart. There is no success in studying for the exams partially. It is also important that you finish the syllabus as early as possible before exams so that you can devote a fair amount of time to revisions.
2. Subject Strength –
Know your strengths. Even if you have studied and prepared the whole syllabus, know your stronger subjects. This will effortlessly help you achieve the 50% aggregate criteria. Be aware of the weightage of each and every topic it will give you the idea about which topics need to be studied deeply. Lots of time students waste their valuable time getting into the details that are not much relevant or carry less weightage in exams. Make it your priority to study your strong topics and the topics that have a high weightage of marks first. Follow a smart approach to studying.
3. Planning, Planning and planning –
Proper planning increases your chances of being successful. So plan your studies, once you learn to plan smartly, you will be more productive and efficient and less pressurized about the exams. If you feel you can’t do this alone, MCC provides you with the proper guidance and assistance of professionals that will help you to execute your plans.
4. Revision –
Your prime goal should be to complete your syllabus in 3 months so you can start with your revision. Moreover, it is a must that you do revision at least 3 times of the entire syllabus for the best results in exams. Do revision weekly as well as practice mathematical problems daily.
5. Self-Study –
Taking professional help for Exam preparation is right but you can’t completely depend on Coaching classes for studying. Self-study is necessary when you are preparing for CA Foundation Exam.
Self-study makes your brain more active and responsive as you can grasp information more effectively. You learn new methods of learning, tactics, and tricks also you are encouraged to further explore topics on your own, developing stronger study skills.
6. Time management –
Time management is an essential skill you need to acquire if you want to successfully pass the Foundation Examinations. Practice solving mathematical and statistical problems quickly every day.
7. Calculator mastery –
This may seem like a very underrated tip but learning to use a calculator the right way can save a lot of your time during exams. Learn Calculator shortcuts for better time management and accuracy. Everyone uses a calculator but a CA takes its functionality to the next level.
8. Model test papers –
For improvising and keeping a track of your performance take the Mock tests provided by MCC. Regularly taking tests to help you know the basics and figure out what topics need more brushing up to do. Another important benefit of taking mock tests is that they teach you time management and help you analyze the questions. It is recommended that you solve the papers at the end of the chapters and after completion of the entire course.
CA Foundation Exams are a stepping stone for CA Course and most of the students attending the exams are 12th grade passouts. It can be very overwhelming to prepare for the exams seeing the extensive syllabus and the hype about CA being very difficult. But with proper attention, planning, and hard work, passing the CA Foundation exams can be a piece of cake.