As you progress through your CA studies, the Institute of Chartered Accountants of India (ICAI) will expect you to behave professionally at all times. Yes, there is pressure to study for examinations, finish training, and deal with a variety of other issues. However, you cannot succumb to them and afford to make the most egregious errors of your career while putting up a CA final preparation strategy in place.
These common mistakes separate
the CA top scorers, CA passers, and CA repeaters. If you want to do well on the
CA final exam and not have any regrets, you need to know how to avoid making
these mistakes.
The following are four common
blunders that aspiring CAs make:
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1. One common blunder made by CA students is blindly following the
actions of their peers. Some people enrol in the course because one of
their friends or a member of their family has already completed it. Students
often stick with those they know and trust during articleships and internships.
If you do this, you will have fewer opportunities to engage with other people.
Students who only train with people they already know are much less likely to
learn anything new.
2. Dummy Articleship– Never ever
do this. The article phase of a Chartered Accountant's career is the most
crucial. This time in a CA student's education is often referred to as
"the golden years." Practical Knowledge is important as much as
studying the books or even more important. There is a strong emphasis on practical
knowledge in CA exams, especially in
Auditing and Direct Tax. You can't learn this stuff from books if you had a
dummy education.
Maintain a consistent schedule
of article production. Your growth will be greatly influenced by the three
years you spend as an articled clerk. Try to get as much work experience and
education as you can. Keep in mind the importance of a well-thought-out plan
for balancing your study time with other commitments. If you study in a quiet
place, make and stick to a study schedule, make time for review, and keep your
cool under pressure, you will succeed on the exam.
3. Ignoring the ICAI Practice
Manual-As and when you are completed with a chapter. Get going on your practise
with the manual's sample questions. You must have completed the questions given
in your compilers provided by the CA coaching but
still you should go through the practise manual provided by the ICAI. You'll
get plenty of question practise, and you'll get some good ideas for presentations,
too. It is clear from prior attempts that more than half of the AMA paper will
be devoted to topics found in the guidelines. In addition to an online
resource, the SFM practise manual provides extensive paper coverage of
financial reporting. A thorough understanding of auditing, forensics,
information and data technology, law, and information systems control and
assurance (ISCA) will go a long way toward ensuring your exam success. In no
way am I suggesting that you read all of the provided readings, RTPs, MTPs, or
even 8-10 sample papers. Not everyone will be able to do it. Do nothing more
than read the how-to guides.
4. It's unclear whether you belong in the Single or Both category; it all depends on your abilities. As much as you can take, for as long as you still have it. Nobody but yourself can provide an accurate assessment of your character and motivations. Many times it happens that students after getting leaves for their final exams start preparation for both groups even if they had not completed it before and shift to single group just a month before the exams. Taking the advices that 2 months are enough for one group. However, this is not the case; in order to qualify for leaves, students must have completed the course at least once and be down to the revision stage. Perhaps they are the rare students who have managed to finish the whole course in such a short time. There is no way to make this possible for every student. Decide if you have the time and energy to tackle both groups, and if not, dive headfirst into one. Without a doubt, you will succeed in passing this test.
If you've decided to
be a CA , then you should Join D.
G. Sharma’s CAPS Nagpur for the right guidance.
D.
G. Sharma’s CAPS Nagpur is one of the leading CA Coaching Classes in Nagpur.
In today’s date, it is the most sought-after education centre to pursue
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