The ICAI has declared the results for the CA Final examinations. Congrats to all those students who became Chartered Accountants, and I wish you all the best who did not clear this time but will clear next time.
We can understand how you are feeling right now. Perhaps facing failure is the most difficult part of your life, but remember that Failure is only the opportunity to start again, only this time more wisely.
This may be the first time or third sixth or tenth or even more. The number of attempts could not judge your ability. Several students are facing such a situation, and as you know, the average Result of CA Final lies between 3-10 per cent. That means to crack this exam you have to place your name on the top 10 percent of students.
Furthermore, ICAI has released the CA final exam date for the Nov 2024 exams. The Exam dates are 1st, 3rd, and 5th for group 1 and 7th, 9th and 11th for group 2 exam. Along with the Exam date ICAI has also released the CA Final Exam form to know the full details click the link.
Further, you can also check the CA Course details on this page.
You must have met so many people who used to say that better luck next time. But let me warn you that there is no such thing called luck which can help you to pass this exam.
The only way to become a CA is through hard work and dedication, so don’t be afraid to accept this fact and dedicate yourself completely towards this course.
But for now, do not rush over the books. Relax your mind and give yourself at least a few days’ rest. Chill out with friends and then gather the study material. Forget what has happened and remember what you can do now to improve your future.
If you are facing humiliation from society or being yelled at by your parents, then take it as a challenge and prepare yourself to shut everyone’s whispering.
Furthermore, ICAI will release the CA Final Admit Card for the Nov 2024 exam. To know the release date and download process, check the article.
Here are some tips that can help you start your studies again and this time in a better way –
Important to cover Amendments
Start again with the updated and latest material and never ever skip the amendments, especially in Law and Taxation. ICAI expects you to remain updated with the finances and laws. Generally, amendments have been seen to cover a major part of your paper. So, prepare well for the amendments.
Cover the AS and SA first
Accounting Standards and Standards of Accounting cover a warm weightage in your paper and are also very easy to prepare, so completely AS and SA as soon as possible. IND AS, carve-out, carve, and IFRS are also part of Accounting Standards, so prepare them thoroughly.
Case Studies are generally asked from Standards of Accounting; hence, practice as many case studies as you can.
Don’t Skip the case studies
There is always a question from case studies in papers like Direct Taxes and Indirect Taxes. However, it is typical to remember the names of thousands of case studies, but you can go through the decision and related provisions with that. The latest case studies generally seem too important for your attempt. So, prepare them thoroughly.
Don’t Skip Allied Law
Most candidates make the big mistake of skipping Allied Laws. In terms of the syllabus, Allied Law covers a big portion, but when we talk about the weightage of marks, Company Law covers a major part as well, as it is easier and more interesting than Allied Law.
That’s why students often skip Allied Law, thinking they can easily pass by studying only Company Law.
However, the paper is designed so that at least one part of every question comes from the Allied Laws, and if you leave every such question, it will leave a negative impression on the examiner and result in failure.
So, prepare company law thoroughly but don’t skip Allied Laws.
Learn with Mnemonics
Some of the subjects, like ISCA, needed to learn along with understanding. Many of the students are scared of this subject. This may be because of the time it takes to learn this subject and the difficulty recalling the points in the exam even after studying a lot.
Students should learn the points with mnemonics, which could help them recall them during the exam. Writing points is not enough, remember that you have written inner content also properly.
Complete International Taxation and GST first
The students with the old syllabus are also going to face International Taxation in Direct Taxes (30 Marks) and Goods and Service Tax in Indirect Taxes in November 2024. This is new for the old students, so try to complete that part first, which gives you a big relief.
Write with section numbers
At the IPCC level, the examiner does not accept your writing each and every section number, but when we talk about Finals, section numbers are considered important. Therefore, present the answers with the section number. If you are confused, skip writing the section number and write the answer like, “According to the provisions of Companies Act 2013…..”
Cover the Practice Manual Questions
Never skip the Practice Manual. It is the most important part of your syllabus, especially when it comes to presentations.
Papers on Advanced Management Accounting (Cost), SFM (Strategic Financial Management), and Financial Reporting (Accounting) are mainly covered in the Practice Manual.
Therefore, prepare the PM thoroughly. Also, you should also practice with the CA Final question papers and mock test papers to excel in the exams.
Revise at least three times
Revise at least three times before the exam. Allocate your time in such a way that results in three times revisions before the exam. Complete your syllabus at least a month before the exam and smartly allocate your time for the revision.
These are some aspects that most students lack and which result in their failure. So, be sure that you don’t repeat such mistakes, and if you feel you need guidance, join a good result-oriented coaching institute or take CA Final online classes at home.
Register Now for the CA Final Coaching
Furthermore, ICAI will release the CA Final Result May 2024 on 4th July 2024 (tentatively). Along with the result ICAI also releases the CA Final Pass Percentage or CA Final Toppers list. You can check the result from the mentioned link directly.
Frequently Asked Questions
Q1. Can CA final candidates prepare for the exams in just two months?
Ans: Yes, if the candidates are completely dedicated to their preparations, they can easily prepare for the CA final exams in just two months.
Q2. Can students prepare for CA final exams without CA coaching?
Ans: Good CA final coaching provides candidates with complete course guidance. CA coaching makes it easy for the candidates to prepare well for the exams.
Q3. Is CA’s final tough to clear in the first attempt?
Ans: Candidates appearing for the CA final exams have to prepare well. They should plan a study routine. Candidates need to be completely dedicated to clearing the exams in the first attempt.