by Saurabh Toshniwal
The following is my generally recommended strategy for studying for CA Final exams.
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(A) Studying for CA Final -
It takes total two years on average to thoroughly study for exams (two & half years, if self study) - 20 months for Classes and 4 months of Preparation Leave Study.
Preferably start studying after 1st year of articleship.
Against Self Study, Classes will help you to complete subjects quickly and to some extent make sure that you study regularly.
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(B) Study Strategy -
Stage I - Understanding the Topics & Concepts {Time Period: 20 months}{Objective: To understand practicalities through classes or self study.}
(a) Prepare notes/summarize everything, mark important sums, while studying in Classes. Try to make sure you understand all concepts, it is okay if you don't remember everything.
(b) You don't need to study separately while pursuing classes. Just make sure that you attend regularly. Keep your notes complete at all the times.
(c) Don't think about exams, just think you are there to learn something new. Exams is just a test, what is important is knowledge. So gain as much knowledge as possible.
Stage II - Understanding the Pattern of exam papers {Time Period: 3 days} {Objective: To understand how exam papers are actually}
(a) When you are done with classes/self study, checkout all latest papers i.e. last three years or last 6 attempts, and understand the structure of exam papers see how exam papers are like!
(b) This will give you exam insights and when you will study, you will know how to prepare and what type of questions you will have to form to test yourself while studying for exams.
Stage III - Preparing for Exams i.e. First Revision {Time Period: 2 months} {Objective: To prepare for exams, on the basis of exam papers that you seen}
(a) At this stage, you will solve everything that you have learnt till date, keeping in mind the sort of questions that are asked in exams.
Stage IV - Self Check Revision i.e. Second Revision {Time Period: 1 month} {Objective: To gain confidence in what you have studied}
(a) This revision should be real quick, like everyday you should do one chapter each of four different subjects per day.
(b) No need to solving, just keep reading & trying to answer. One or two questions you may right roughly.
(c) Try to read questions and answer them orally.
Stage V - Exam Before Exam i.e. Paper-solving {Time Period: 16 + 8 days} {Objective: To get acquainted with exam situations and realize your level of preparations}
(a) This will be the month of April or October (according to your attempt). This is just exactly one month before exams. So what you have to do is create exactly what the situation will be one month later.
(b) You should schedule your practice test as follows:
01/04 Study FR
02/04 FR Exam (2 pm to 5 pm)
03/04 Study SFM
04/04 SFM Exam (2 pm to 5 pm) and so on
(c) There is no need to go for Practice tests conducted by Coaching Classes. You can do it at home itself, doing it at home is better option indeed.
(d) After completing first round of Paper-solving, you should start second round of Paper-solving, this should be daily basis, i.e. 8 days back to back.
Stage VI - One Day Match i.e. Third Revision {Time Period: 8 days} {Objective: To get ready for exam time studies and a final round of study}
(a) Third Revision is for rectifying mistakes that you noticed while solving paper.
(b) You will know your mistakes, so you will merely revise all subjects i.e. 1 subject per day and also rectify mistake, find solutions for your problems, make strategy of which chapter questions you will solve first etc.
(c) You can also try revising the whole portion in 75% of the day and then use 25% of the day for Paper Solving.
(d) This time you don't solve for all 3 hours, but just solved reduced paper or just see paper, built strategy and solve few sums in limited 1-2 hours.
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(C) Study Sources (Books to be used)
(1) Don't accept opinions, form an opinion
- I am very sure you will have n number of suggestions already on your mind from different people.
- For e.g. for ISCA a friend might have told use Swapnil Patni's notes! Some other would have said Amit Tated's notes, some other would have named Dinesh Madan! And some would have also suggested institute's Study Material!
- Should I name a few more author's name? It would be much more great fun then! Never use books on the basis of opinions of others! Then what to do?
- Like any other person / friend / answer writers, I can recommend but won't because this will make you biased. Books you will have to choose on your own.
- But I can help you in selecting the books.
(2) How to select the right author notes?
Collect suggestions from everyone. Make a list on your mind.
- Borrow these notes from different students/seniors/friends.
- Pick one chapter/topic of a chapter, of that subject, read it from ICAI's study material and all the notes that are available with you.
- Whichever you find most appropriate choose it. Your choice may also be the ICAI's study material.
- ICAI's Study Material means the Theory Module and not the Practice Manual. I making this disclaimer because there are various students, who are wrong at this and they don't even know that Study Material like thing exists!
- Only tip is choose one which is Small, but still covers all topics and it is one consolidated book, especially for theory subjects like ISCA!
(3) When to use, which book?
(Note: The following stages are same as above, but which book should be read when is also important, you can't start from RTP on the first day.)
Stage I - The Author notes that you have selected.
If doing classes, no need to study extra, just do classes regularly. Keep your class notes up to date. Else, if you are doing self-study, use the notes whichever you would like to use and daily 3 hours either in morning or at night, fix the time!
Stage II - Past Exam Papers
Stage III - Your Summary notes, ICAI's Study Material and ICAI's Practice Manual
At this stage you will read only the summary notes, then you will read the ICAI's Study Material, read just like a magazine, to make sure that you have not missed any topic/chapter. After that you will solve Practice Manual for the first time. You will solve atleast 40% sums on paper. Rest 60% on calculator or rough. 40% should consist of variety.
Stage IV - Your Summary notes, Marked Sums from Author Notes, SM & PM.
Stage V - Past Papers, Revisions Test Papers, Case Laws Supplementary and Amendment Notes
Stage VI - Summary Notes, Marked Sums.
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Remember, if you sleep well today, you won't be able to sleep before exams! So it is okay to give up sleep today than during exams!
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