Most of the commerce streams students after passing 12th exams like to pursue Chartered accountancy course. CA is one of the most reputed courses in India and offers attractive packages which makes it No. 1 choice among students. Students who want to opt this course are quite confused, nervous and scared about this course. As they are scared of the myth that Chartered accountancy courses are very tough to crack. It all depends on your hard work, determination and focus to make your dream come true.
Your journey will start after filling the CA foundation exam form. Anyone can clear the CA foundation exams with flying colors if their approach is right. If you want to clear the CA foundation exams with 100% certainty you need to follow the below mentioned tips strictly. These tips will keep you on the track with your study which results in scoring good marks. CA Foundation course will polish your finance and accounting skills in an advanced way.
CA Foundation consists of four subjects carrying 100 marks each. First two papers are subjective type papers and the other two are objective type papers. Before attempting the CA foundation question papers students should work on their presentation and writing skills as these two qualities also play an important role to clear the exams. ICAI conducts the exams in the months of May/June and November/December. You need to start your preparation from the day you fill the registration form of CA foundation.
You will have four months of study period to prepare yourself for the CA foundation exams. Basically you have 120 days to cover the syllabus of four subjects. You need to prepare a proper strategy along with hard work. Here in this article we have curated a subject wise preparation plan for CA Foundation papers which is followed by CA foundation toppers also.
CA Foundation Preparation Plan Subject Wise:
Paper 1: Principles and Practices of Accounting
Commonly known as “CA Foundation accounts”. This is a subjective type of paper consisting of 100 marks. Commerce students are very familiar with the subjects as it covers a major portion of 11th & 12th class accounting. Accounting is one of the favorite subjects among students as they have the opportunity to score full marks. To score high marks you need to practice this subject on a daily basis. You can solve mock test papers, previous year question papers, sample papers to ace this subject. This is a proven CA Foundation exam preparation tips and tricks given by the experts of Mittal commerce classes.
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Paper 2: Business Laws, and Business Correspondence and Reporting
This is a subjective paper divided into two parts: Business law and Business Correspondence and Reporting.
Let’s discuss the preparation strategy for Business laws first.
This subject is new to the students appearing from 12th class. The main objective to add these subjects in the CA foundation course is to make students understand the basics of general laws prevailing in our country. If you are dreaming to become a CA in India you should start to know the laws from the basics.
This is a theory subject which covers the weightage of 60 marks. While preparing for this subject you need to work on your presentation skills. As this is a theory subject which requires constant revision. While presenting the answers you should add some major keywords which increase the chances to get good marks.
Now, let’s discuss the preparation strategy of Business Correspondence and Reporting.
This subject is also known as “General English”. In the Chartered accountancy course, the demand for good communication skills are recently developed and hence ICAI introduced this subject in the revised syllabus. This subject covers the basic knowledge of English which you have studied in your school life.
This part carries a weightage of 40 marks. If you are from an English medium this can be cherry on the top. You can score as much as you can but for that you need to study this subject at least 3 times in a week for 2 hours regularly to have a good hold on your concepts.
Paper 3: Business Mathematics, Logical Reasoning, Business Statistics
This is an objective type paper divided into 3 sections.
1) Business Mathematics (40)
2) Logical Reasoning (20)
3) Statistics (40)
This is one of the most favorite subjects among the students as they have the opportunity to score full marks in this paper. Business mathematics consists of 40 marks and covers majorly the syllabus of 11th and 12th maths. Students who have maths might find it easy as they are familiar with the topics while for non-maths students this subject is going to be a bit challenging. This is an objective type paper which needs daily practice. You can download the study material provided by ICAI on their official website. You can solve one paper on a daily basis to improve your practice.
Second section is Logical Reasoning. This section consists only of 20 marks but when you are preparing for the CA foundation exams each and every mark is important. Scoring in this section is very easy as it covers the topics we have studied upto 10th class. The more you practice for this subject the more you will get perfect in solving the problems.
Statistics also covers the general knowledge of maths which you have studied upto 10th standard. Your answers may have gone wrong at that time but in the CA Foundation exam you can easily solve these questions with the help of a calculator.
If you are from a different stream you can score in this paper by focusing on reasoning and statistics.
Paper 4: Business Economics and Business and Commercial Knowledge
This is an objective type paper divided into 2 sections.
1) Business Economics (60)
2) Business and Commercial Knowledge (40)
Business economics carries a weightage of 60 marks. Commerce students will find this subject very easy as they have already studied this subject in class 11th and 12th. Scoring marks in this subject will get easy for you. Also, you can practice from the modules and practice papers provided by ICAI at their official website.
Business and Commercial Knowledge carries a weightage of 40 marks. This is recently introduced by ICAI with an objective to give the basic understanding of the business.
You need to understand the basic concepts of the CA foundation course as mocking up the entire syllabus will not help you to pass this level. Make sure you complete the syllabus at least one month before the exams and keep a month for your revision. Do cover more than one subject every day as you will get bored reading a single subject a day or for 20 days. Try to revise the syllabus at least three times before attempting the exams. Hope you have adopt the subject-wise strategy for CA Foundation exam preparation to clear all the papers in one go.