Preparation for CA Final Exam 2020

How to Pass CA Final in 1st Attempt – Study Plan For CA Final Nov 2020

How to Pass / Clear CA Final Exams Group 1 and Group 2 or both Groups in First Attempt Easily? The answer is here:- Some CA Final students asked me “How to complete CA Final exams in just one month or 20 days”.

CA Final is the last stage in the Chartered Accountancy course and amid such period students have to undergo 3 years of articleship training which is a mandatory part of this course. Students often found missing their classes due to the office workload or they face difficulty in managing studies with the office. Hence, the better option is to complete your CA Final syllabus through self-study. But is that actually easy? Is it possible to complete CA Final vast and challenging syllabus without coaching?

A comprehensive planning tool for CA Final that shall enable you to spread your time across every chapter in judicious manner and plugging the gaps of your preparations

Definitely, it is not possible to complete CA Final exams in just one month or 20 days. Nowadays it is very tough to complete CA Final exams. In recent Google Hangout with ICAI president, he said that CA exams will be tough from 2020.  I’m not saying CA Final exams are very tough. I’m saying that “Yes! you can pass CA Final exam, if you have conceptual knowledge with effective preparation only.

Smart Planning for CA Exams (with Planning Tool)

If you plan to go for a week long audit assignment, do you create an audit program?

Obviously!  You do it, right!

Now let’s just compare the size, time and complexity of effort involved in Audit vs CA Exam. It’s like comparing Lonavala vs Mount Everest, isn’t it?

Students do plan their studies but most of the times all such plans are ad-hoc and has no scientific and logical basis. I will rephrase the famous quote by Benjamin Franklin – “If you fail to plan “right”, you are planning to fail.”

The objective of planning is to optimize the investment of your scarce resource (time) across the study content in an optimal manner with a clear objective to maximize your marks.

To get conceptual knowledge, you should follow proper study plan from 3 months. CA Final exams Nov 2020 are coming closer. So we have sufficient time for exam preparation. ICAI already declared that CA Final results Nov 2019 declared on 23 rd Jan 2020. Here we are giving CA Final Study plan for CA Final Group 1 / Group 2 / Both groups preparation in 3 months. Just follow this study plan, you can crack your CA Final exams in your 1st attempt easily. If you are a hard-working student, you can adjust this study plan from 3 months to 2 months. There are 3 revisions in this study plan !!

Planning strategy differs for the ones going for the first attempt and the ones who go for repeat attempts. This article is for the ones who are going for the repeat attempt.

Our preparation time table should be start from 1st week of the Aug 2019. Here we have more than 3 months for preparation. If you follow given study plan, damn sure you can get 60 + marks in each and every paper. you can pass CA Final very easily in your First attempt.

Here I’m giving CA Final study plan for 3 months. We can definitely complete our preparation in 3 months very easily. In this 3 months preparation you have to do 3 times of revision for CA Final exams. If you follow this study plan you can easily complete CA Final First Group / Second Group / Both Groups in 1st attempt easily !!

Here we have an answer to all your queries. In this article, we are sharing with you the self-study tips for CA Final. Have a look at the below-given points –

1. Timely Start Your Studies –
2. Pen Drive Classes –
3. Choose Proper Reference Books –
4. Change the Habit of Procrastination –
5. Keep your Concepts Strong –
6. Three Times Revision –
7. Prepare your Own Summary Notes –
8. ABC Analysis –
9. Solve Mock Test Papers –

1. A student is required to prepare thoroughly for examinations well in advance and to devote at least two hours daily for studies while undergoing Articled Training.

1. During leave period at least 14 to 16 hours’ hard work is required.

1. Avoid mobiles, internet and television as far as possible.

1. Students must study from study material and do practice from practice manual. Wherever a particular topic or point is not clear, a student may refer to a standard text/reference book.

1. Students should refer suggested answers of questions set in last five/six examinations and Revision Test Papers. It is strongly recommended to solve the questions first without referring to solutions and then comparing the answers with the solutions given. Such an approach would help in knowing point of mistake and presentation pattern of an answer.

1. In law papers, Section and its provision is to be given correctly. If a student is not sure about the Section number then he should not quote the same.

5 AM. To 7.00 AM	Read Theory
7 AM. to 7.30 AM.	Breakfast Time
7.30 AM to 10.30 AM	Read theory – mind is always fresh in the morning
10.30 AM to 11.00 AM	Relaxation Time
11.00 AM to 1 PM.	Do/solve practical problems.
1 PM to 2 PM	Lunch Time
2 PM to 3 PM	May take short sleep
3 PM to 5 PM	Do/solve practical problems.
5 PM to 5.30 PM	Have a break.
5.30 PM to 8 PM	Read theory.
8 PM to 9 PM	Dinner Time
9 PM to 10 PM	May go for outing – watch T.V
10 PM to 12 PM	Do/solve practical problems
12 PM to 4 AM	Have sleep
Reading Time                    Eating Time                          Relaxation Time

Study plan for CA Final Nov 2020 – 1st Revision

Subject	Daily preparation time for each paper	Total hrs.
Refer previous day’s revision (in early morning )	½ hr x 60 days	30 hrs.
Financial Reporting	2 hr x 60 days	120 hrs.
Strategic Financial Management	2 hr x 60 days	120 hrs.
Advanced Auditing and Professional Ethics	1 hr x 60 days	60 hrs.
Corporate and Allied Laws Section A : Company Law Section B : Allied Laws	2 hr x 60 days	120 hrs.
Advanced Management Accounting	2 hr x 60 days	120 hrs.
Information Systems Control and Audit	1 hr x 60 days	60 hrs.
Direct Tax Laws	2 hr x 60 days	120 hrs.
Indirect Tax Laws Section A : Central Excise Section B : Service Tax & VAT Section C : Customs	1 hr x 60 days	60 hrs.
Once again refer that full day’s revision (Before going to bed )	½  hr x 60 days	230 hrs.
Total	14 hrs. x 60 days	840 hrs.

Subject	Daily preparation time for each paper	Total hrs.
Refer previous day’s revision (in early morning )	½ hr x 15 days	7.30 hrs.
Financial Reporting	2 hr x 15 days	30 hrs.
Strategic Financial Management	2 hr x 15 days	30 hrs.
Advanced Auditing and Professional Ethics	1 hr x 15 days	15 hrs.
Corporate and Allied Laws Section A : Company Law Section B : Allied Laws	2 hr x 15 days	30 hrs.
Advanced Management Accounting	2 hr x 15 days	30 hrs.
Information Systems Control and Audit	1 hr x 15 days	15 hrs.
Direct Tax Laws	2 hr x 15 days	30 hrs.
Indirect Tax Laws Section A : Central Excise Section B : Service Tax & VAT Section C : Customs	1 hr x 15 days	15 hrs.
Once again refer that full day’s revision  (Before going to bed )	½  hr x 15 days	7.30 hrs.
Total	14 hrs. x 15 days	210 hrs.

 

One of the most important tip to clear CA Final is to timely start your studies. After clearing CA Intermediate, you have an ample time in which you can complete CA Final vast syllabus. Never depend on the last few months to complete the syllabus of CA Final. Start your studies at least one year before your CA Final attempt. You might be thinking that one year is more than enough, you can easily complete its course in 5-6 months. But sorry, read the below-mentioned points and you will get an idea why one year is important. 2. Make a Proper Time-Table-   

Never start your studies without time-table. Figure out a proper plan and allocate a proper time to each and every subject. While preparing such a plan, excluding the last three months before your CA Final exam. Want to know why? Read the below points.

Managing to coach with the office is the most difficult task in the CA Students Journey. But now many of the top institutes of India are providing pen drive classes of each and every subject. Students can order such classes and watch according to their convenience. It helps them in making their concepts strong which is the basic need of CA Final examination.

The right selection of reference books is more important for you as compared to students who are preparing for CA Final through some coaching. Choose only one or two reference book for each subject and of course, choose them wisely. According to India’s top faculties, the best book for the self-study is ICAI CA Final Study Material, which has covered each and everything. The presentation given by ICAI in its modules is marvelous. So it is advisable to go with the institute study material which saves your time, money and cost.

Every student who has reached to the CA Final level is intelligent then why some students become CA and others have to face failure in this examination. The only difference between successful students and failed students is their study habits. We all have a busy schedule, we all get tired after returning from the office, we all have to work late at night, we are not getting time to go for outing with friends or attend our close family functions, but still, we have to study, we have to manage our time.

Remember, you choose to become a Chartered Accountant, this course doesn’t choose you. Then first of all change one of the most common habits i.e. Procrastination. Stop procrastinating your daily task, complete them either by hook or by the cook and trust me you will never have to face failure in CA Final Exam.

The concept is the base of your study. Never try to learn the things without understanding. Each and every concept related to your course must be on your tip. Don’t just learn the formulas given in Standard costing for solving the question, understand them and you will never have to revise them again. If your concepts are not clear, it will be very difficult for you to rank in CA Final not only in the first attempt but also in multiple attempts.

CA Final is not that difficult, the actual difficulty is to remember its vast course. The only thing which can make you remember such vast syllabus is Revision. Three times revision of the entire course is a must before the exams. You have to set aside the last three months for the revision only and here you got the answer why I told you to exclude last three months from your preparation schedule above. Know how to smartly revise the course in last months of examination.

It’s completely impossible to revise the whole course in one day of preparation leave from your regular book. Hence, prepare your own short notes which you can go through on the last day of preparation left. It will be better if you prepare such short notes in the form of the chart because charts are easy to understand and read.

Entire syllabus given by ICAI is important but still, it’s not possible to complete the whole course. Hence, ABC analysis of your course is very important. There are a few topics which are quite more important than others. For Example- at the CA Final level, PGBP and CG are important in comparison to Salary and HP. Therefore, instead of wasting your crucial time on such irrelevant topics, you can invest such them for the important ones.

Practice makes a man perfect… Most of the students make complain that we have given the right answers but ICAI has unnecessarily cut the marks in order to maintain the pass percentage. But friends, ICAI do not have any personal rivalry from you. So stop blaming ICAI. If others can clear this exam then you can also clear. Solve as many mock tests or past attempt papers as you can, it helps you in understanding the paper pattern, maintaining the speed and properly present your answer.

Study Plan for CA Final Exams Nov 2020

Study plan for CA Final Nov 2020 – 2nd Revision

How to Pass CA Final Exams in First Attempt Easily Nov 2020

Get up early in the morning at 4 AM. Be ready by 5 AM. This period (4.00 AM to 6.00 AM) is called ‘Brahma Murat’ and studies done during this period cannot be forgotten i.e. they remain in memory for long.

1st Revision

No. of days = 60 days or 2 months

Daily preparation hours = ( 13+1 ) = 14 hrs.

You have to complete your 1st revision in first 60  days or 2 months and also you have to complete full syllabus of CA Final in your study material in this period.

Here study material means your own class notes/tutorials own material or any preferred publishers publication. Even you can prepare both CA Final study material and practice manual of ICAI.

2nd Revision

No. of days = 15 days

Daily preparation hours = ( 13+1 ) = 14 hrs.

You have to complete your 2nd revision in next 15 days and once again you have to complete full revision of your study material which is you prepared in 1st revision. But this time you should prepare both CA Final study material and practice manual of ICAI.

Note : preparation of ICAI’s study material and practice manual is must and should. So you should do this in 2nd revision.

Study plan for CA Final Nov 2020 – 3rd Revision

3rd Revision No. of days = 15 days
In this 3rd revision, there is no particular time table. Just concentrate on your weak areas of subjects. Once again revise all subjects which were you completed in last 2 months(1st and 2nd revisions). This time also prepares previous years papers, mock test papers, RTP’s and other model papers !!

That’s it guys…! All the Best for your CA Final Exams Nov 2020..!

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