Chartered Accountancy is a course dealing with the topic of finance, financial statements, auditing the accounts, analyzing and preparing a report, etc. CA foundation is the first exam conducted by The Institute of Chartered Accountancy of India, formerly, it was known as the Common Proficiency Test. As the name says, this exam evaluates the base or foundation of chartered accountancy, i.e., whether a student is familiar with the basic, important, and commonly used terms and topics associated with this field.
Just like every other exam available for the students, every student dreams to stand on the merit list, or at least clear the exam in his first attempt. When students fail their first attempt, it causes a loss more than many understand. There is a loss of time, loss of hard work, and loss of confidence.
In this article, we are going to explore valuable guidance and proven tips shared by our expert faculty of the CA Foundation course here at the MCC. You can use these tips to understand and plan and study for the CA Foundation course to clear it in the very first go.
Subjects to be cleared by the students for the CA foundation 2021 Exam:
Principles and Practices of Accounting - 100 Marks
Business Laws and Business Correspondence and reporting
Business Laws - 60 marks
Business correspondence and reporting - 40 marks
Business Mathematics and Logical Reasoning and Statistics.
Business Mathematics - 40 marks
Logical Reasoning - 20 marks
Statistics - 40 marks
Business Economics and Business and Commercial Knowledge
Business Economics - 60 marks
Business and Commercial Knowledge - 40 marks
Students have to prepare the above-mentioned syllabus in order to clear the CA foundation exam. The first two papers are subjective types and require a neat and relevant presentation and the latter two are objectives. Students are supposed to score an aggregate of 50% or 200 marks in the exam.
Our Tips and Advice
While studying for the CA Foundation course students need to keep in mind certain points that will help them structure their study plan fairly.
These include:
Time period: Students after passing class 10 are allotted a study period of 2 years. In this time period, students have to make a blueprint to complete the syllabus as well as revise it 3-4 times. Students should avoid wasting any day of this 2 years period and focus on growing and achieving their desired target.
Preparation of a blueprint: Students should be well aware of the study material. The syllabus for the foundation exam consists of everything the student has studied in classes 11 and 12 and carries additional topics. The candidates are required to prepare a thorough paradigm such that they study the syllabus, revise the contents, solve past year papers, and clear mock tests. Students should have the required notes and reference book and all the study material with them before they start studying.
Prepare a timetable: A timetable does not only include how much one should study or what to study. It includes everything a person does throughout the day for the next two years of your preparation time. This gives fair control to students of their time, which helps them later to manage time effectively. For clearing the exam on the first attempt, you need to give 100% of the effort and utilize each minute of your day wisely.
Prepare notes: Notes are the most effective tool every student can carry. While making notes students get familiarized with their weak points, the areas which need special attention, and practice. Making good notes with highlights helps students to revise the topics frequently without having to go through the entire topic. Also during the exams, it is not possible to study the entire syllabus thus, notes are extremely beneficial.
Control your calculator: ICAI thinks of smart work as well as hard work. The students are allowed to carry calculators with them in the examination Hall. Thus, if a student does not have experience in calculators, they will just face a shortage of time in the examination. So while practicing your numerical subjects make sure to use your calculator as much as you can and also try to use all the shortcuts to get a hang of it and to increase your efficiency and speed while in the exam hall.
Focus on presentation: No examiner likes pages filled with cuts and scribbles. It leaves a bad impression on the teacher as a result they check the sheet in a sour manner. Students feel like ignoring this aesthetic aspect as they are no longer in school, but little do they know that it matters a lot in professional sectors. Try to have a habit of writing papers and solving mock papers neatly and without any mistakes.
Consult previous year papers: Previous year’s papers help a student grow familiar with the exam pattern and general difficulty. Also practicing the past year’s papers help improve time management skills and implement a stronger plan to follow in cracking the exam.
Perform distress exercises:- Students should not increase their stress levels. If they do not control the scenario, they will end up in depression. If you follow the above advice effectively you won’t stress about the exams much but if you do feel stressed out at times the tips mentioned below can help you cope up with that stress very effectively
Manage stress effectively in 5 simple steps-
1.Exercise-
2.Breathing exercises
3.Sleep well
4.Eat healthy and nutritious food
5.Take therapy (if you feel too stressed)
Take short breaks: Students should avoid studying in a stretch and plan their study period with a 10 mins break after every 50 mins of studying. This will help the mind freshen up instead of hitting a stall after continuous studying. You can listen to relaxing music, have a cup of hot tea/coffee or go for a small walk or do some stretching exercises. Students who take small breaks while studying tend to study much better.
In short, here are some points to keep in mind for managing time effectively while studying for CA Foundation.
Time management tips for CA foundation:
Setting realistic targets every day
Avoiding procrastination
Don't study a lot in a stretch, take short breaks
Plan the day after
Track your solving speed
Join proper coaching: Teachers play a major role in the success of the students. When it comes to the CA course, students need an experienced person who will guide them towards doubt clearance. Enroll with Mittal Commerce Classes today to start your preparation for CA Foundation exams, MCC has been providing All India Ranks for CA Exams and has a record-breaking performance in CA Foundation November exams 2020.
MCC has the reputation of the class with the highest number of pass-out students in the CA Foundation course than any other Institute. We prepare our students for success!
In conclusion, if the student dedicates his study period just for his studies and keeps all the extra, unnecessary fun outside, he /she can definitely clear it in his/ her first attempt.
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