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How to Prepare CA Final For Nov 2016 in 3 Months

How to Prepare CA Final For Nov 2016 in 3 Months. In the previous article, we have given CA Final Question Papers and CA Final Suggested Answers from May 2010 to May 2016. Today we are providing an article about How to prepare CA Final for Nov 2016 in 3 months. Recently ICAI declared CA Final result May 2016. When compared to previous attempts, ICAI announced very low pass percentage for May 2016 attempt I;e 11.36%. So you should work hard from today onwards to pass CA Final exam Nov 2016. Read below !!

How to Prepare CA Final For May 2016 in 3 Months

How to Prepare CA Final For Nov 2016 in 3 Months

#Article by CA Chiranjiv Kumar

Only 3 months are left for CA exams. This schedule is made keeping in mind the syllabus of CA Finals.

Important points common to all subjects

  • Do the RTP of current attempt + previous attempt.
  • Do the suggested answers of current attempt + previous attempt
  • Mock tests are not mandatory, but if you can fit them in, it is all good.
  • Compilation wherever specified is very much important. It can get you a cover of 30 marks at least.
  • Last day is allotted in the name “whatever you want in a subject” to reflect over the syllabus. It is important. You certainly don’t want to finish the subject at 11 PM and go to sleep and start another subject the next morning. You need the time of 1 day to recollect the memories of the subject, think about them, and consolidate them in your mind. I personally do it. I used to go outside, walk my dog, sit and think. NO, I didn’t spent day watching T.V. or looking at the digital screens. I call this the REBOOT day, to clear my RAM and transfer it to my MEMORY.
  • Maximum days required are the number of days in which syllabus should be completed. You can reduce it as per your ability but increasing the days is not recommended (topic shifting within the subject can done if required).
  • Stop reading because it will distort your memory. If you ask me, I read a topic 3 times; first when learning, second when revising and third, a month before the exam.same thing again and again

Some points to consider from the view point of memory retention –

Avoid cell phones before 2 hours of sleep. Taking sleep after using digital screens (laptops, mobiles etc.) causes serious damage to your memory retention.

Sleep 7.5 hours a day. A sleep cycle is of 90 minutes (1.5 hours). If you wake up in-between sleep cycles, you feel tired and weak (ever wondered why you feel sleepy even after 10 hours of sleep?). So, take 7.5 hours of sleep. When you sleep, it takes 2 hours to reach REM (Rapid eye movement) cycle and after that the information stored in your temporary memory is transferred to your permanent memory and this continues for 4 hours. That is 6 hours total. 1.5 additional hours is buffer period. Totaling 7.5 hours of sleep. If you are very much tired, take 9 hours of sleep.

Don’t read anything new. Don’t know holding? Leave it. Do amalgamation twice. Don’t know standard costing? Leave it. Yes, you can read new things but that would certainly be at the cost of your existing knowledge. This is not a time to fetch extra 5-6 marks but to ensure that you get the other 94 marks.

This point may sound funny to some but I do it and it helps me, so I am telling you. Do the Tratak (may take help from YouTube). I have been doing it since I was in 9th class. This is simple. Get a candle and light it. Turn off the bulbs and sit. Keep looking at the candle flames. Don’t blink your eyes. Just keep on looking. You’ll eyes will start dripping water. Stop it. Try to do it for 5 minutes (you won’t be able to get beyond 5 minutes if you have never done it before) daily. The reason is that when you sit and look at the flames, your mind becomes clear and confusions get burnt. Before exams, I do the prolonged sessions of 10-15 minutes which really helps me to stop bothering and turn myself into active mode.

Avoid discussing the passing percentage, marks slashing syndrome, and other useless things. Concentrate on what you can control. If you cannot control a thing, it is a wise decision to trash that.

Stop temporarily motivating yourself. Motivation is a big hindrance to your habit. Motivation is temporary, habit is what keeps you going. Make a habit, motivation would vanish. You already have permanent motivation in you. That is why you are still in CA and are going to attempt the exam. Forced motivation is never good as compared to natural motivation.

Stop taking useless . Needless to say, you don’t need advice. You have cleared CPT, IPCC, and completed articleship. You are knowledgeable. You already know what is necessary and what is not. You are wise enough to make a choice. You are wise enough to do the right thing.advices

Stop talking about syllabus and subjects. When you meet or call your friends, stop discussing about CA. Don’t ask, ‘Kitna syllabus ho gaya.’ This was a question that really irritated me. Lol. CA is a part of us, we are not part of CA. CA is not equal to life. Treat CA as a milestone not your life.

Maximum Days For All Subjects = 96 Days

CA Final Financial Reporting (15 Days)

1. Choose Amalgamation vs. Holding Accounts. If you cover amalgamation accounts, then goodwill is automatically covered i.e. 24 marks. If you want to skip holding, at least do the basic questions.

2. You need not to do the same question with figure changed again and again in practice manual.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10133 9
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10134
http://www.icai.org/post.html?post_id=10135
1
Revised Chapter-6 on Accounting and Reporting of Financial Instruments https://resource.cdn.icai.org/19331sm_finalnew_cp6.pdf 1
Compilation of Suggested Answers (Only do last 5 attempt questions) http://www.icai.org/post.html?post_id=11035 3
Whatever you want in FR Your experience 1

CA Final Strategic Financial Management (14 Days)

1. Practical knowledge is very much important.

2. Portfolio management and Derivatives are the most important chapters.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10141 9
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10138
http://www.icai.org/post.html?post_id=10139
1
Compilation of Suggested Answers (Only do last 5 attempt questions) http://www.icai.org/post.html?post_id=10938 3
Whatever you want in SFM Your experience 1

CA Final Advanced Auditing and Professional Ethics (10 Days)

1. Professional ethics – 16 marks bonus chapter.

2. Most of the chapters are from IPCC. Active thinking is required. Imagination is imperative in auditing. I still don’t remember what actually is written in the chapters, you can use your imagination and experience.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10144 6
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10143

http://www.icai.org/post.html?post_id=10145

1
Compilation of Suggested Answers (Only do last 5 attempt questions) http://www.icai.org/post.html?post_id=11059 2
Whatever you want in AUDITING Your experience 1

CA Final Corporate and Allied Laws (8 Days)

Few chapters coincide with Auditing subject chapters.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10148 6
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10149

http://www.icai.org/post.html?post_id=10150

1
Whatever you want in LAW Your experience 1

CA Final Advanced Management Accounting (12 Days)

1. If you do compilation alone, you can score 40+

2. Practice manual is the heart of the AMA.

3. Complete practice manual and compilation and be tension free. Everything is covered.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10160 7
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10157

http://www.icai.org/post.html?post_id=10158

1
Compilation of Suggested Answers (mandatory, do each and every question) http://www.icai.org/post.html?post_id=10943 3
Whatever you want in AMA Your experience 1

CA Final ISCA (7 Days)

1. You should be able to create sentences. Cramming may work but not recommended.

2. Don’t forget to learn the headings. Recite them day and night.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10166 3
RTP http://www.icai.org/post.html?post_id=10163 1
Compilation of Suggested Answers (mandatory, do each and every question) http://www.icai.org/post.html?post_id=11924 2
Whatever you want in ISCA Your experience 1

CA Final Direct Tax (15 Days)

1. Cases cover nearly 40% of the paper.

2. You need not to learn case names. You even don’t need to learn the facts and stuff. Just understand what the case is and what the decision is even if you are not able to understand why it is. Write yes/no, repeat the question, explain the decision, hence it should be yes/no, repeat the question. If you look at the cases, you’d know that they just repeat same line again and again with few additional words. You can explain case in just a line if you want. It is all about creativity and understanding.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10169 7
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10412

http://www.icai.org/post.html?post_id=10252

1
Statutory and Judicial Updates https://resource.cdn.icai.org/38892bos28368dtl.pdf 2
Old Cases (don’t skip this) https://resource.cdn.icai.org/39200bos28567finalp7.pdf 4
Whatever you want in DT Your experience 1

CA Final Indirect Tax (15 Days)

1. Cases cover nearly 40% of the paper.

2. You need not to learn case names. You even don’t need to learn the facts and stuff. Just understand what the case is and what the decision is even if you are not able to understand why it is. Write yes/no, repeat the question, explain the decision, hence it should be yes/no, repeat the question. If you look at the cases, you’d know that they just repeat same line again and again with few additional words. You can explain case in just a line if you want. It is all about creativity and understanding.

What to do? Source Maximum Days Required
Practice Manual http://www.icai.org/post.html?post_id=10172 7
RTP and Suggested Answers http://www.icai.org/post.html?post_id=10413

http://www.icai.org/post.html?post_id=10253

1
Statutory and Judicial Updates https://resource.cdn.icai.org/38891bos28368idtl.pdf 2
Old Cases (don’t skip this) https://resource.cdn.icai.org/39201bos28567finalp8.pdf 4
Whatever you want in IDT Your experience 1

Don’t let anyone tell you that you cannot complete CA. If they do, ignore. I have been preparing for MBA since last three years when the friends were taking CA coaching (still struggling for the coveted business school) and I never touched CA subjects, never took coaching. Exams came near and I had to skip the attempt (Nov. 2014) because I never picked up the books so I didn’t know a word. People told me that I am doomed because CA final subject is so vast and it would take me years to cover syllabus and all that stuff. My actual plan was to first complete MBA and then go for CA during job. Well, I had nothing in hand at that time.

Would you believe if I tell you that I completed CA 1st group in May 2015 and CA 2nd group in Nov. 2015? The difference was, I didn’t spent my 50% of time planning, worrying, taking advices, force motivating myself, discussing, and doing all the other rituals etc. I was not that kind of student who wrote ‘CA’ everywhere, on wall, on bags, on whatsapp and facebook statuses. Being a CA hasn’t changed me. I am still the same person. Yes, I can now say to those who were bugging me since last 2 years saying ‘Kya kar rhe ho (more like kya kalle o)?” What I did was just read, made notes and never looked back. As simple as that. My mind was clear on the day of exam and I rarely forget what I read. Some people call me that I am lucky. Yes, I am lucky. The harder I work, the luckier I get. Strange, isn’t it?

All the best for the exams. Hope to see you all pass the exams with flying colors!

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5 comments

  1. Awesome.

  2. Great yaar!! I am really impressed!! ?

  3. Hi, 1985, I cleared my CA Intermediate. After that I had to quit because I had to join an audit firm in South Africa and in 2000 I did SAP FICO and joined companies like Accenture, Satyam, GE & so on as Project Head. Now after 36 years, I desire to write and complete the final. Time is constraint and with multiple responsibilities, I need to plan group after group. Could you advise tips please? At 57, !!!! a hurdle?

  4. Hi Friend,
    Thank you so much for this guidance and I feel motivated now, and like to have your suggestion on my case-

    I cleared my PCC in Nov 2011 then due to job and all the excuses didnt cleared Final after that. Now I want to try again but this time with all my efforts I’l study hard. I need your valuable feedback cum advice because I haven’t attempted last 3 exam and most changes happened this time like IFRS, new Company Law and also no updated notes from coaching classes I have. If you can suggest me any direction I will be more thankful to you.

    Thanks

  5. article is excellent. every word wriiten here is gold for me. thanks a lot for guiding. specialy i dont know about compilers. i will go and take them first….

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