CA Foundation is the first step towards building your dream of becoming a chartered accountant. Earlier the ICAI used to conduct CPT as an Entrance exam for the Chartered Accountant course. But this was changed in the year 2018 and ICAI began conducting the CA Foundation Exam.
With the change in the exam pattern, the CA Foundation question papers become tougher. Furthermore, anything new often brings nervousness and students end up performing low. Hence, it is important to follow a smart guide for clearing CA Foundation Exam in May 2023 on the first attempt only.
CA Foundation Exam
The CA Foundation exam in June 2023 is approaching soon with the examination form filing processes about to start. It can be understood seeing the passing rate as low as 18%. Cracking the Foundation exam on the first attempt is a difficult goal to achieve. Although this does not mean it is impossible, it is achievable with the correct strategy and planning.
CA Foundation exam happens twice a year, i.e. in the month of March and November. There have been a few changes in the curriculum and exam pattern as per 2018 updations. There are four papers in the CA Foundation exam which are principles of Accounting, Business Law, Mathematical reasoning, and Business Economics. Students can visit VSI Jaipur to get all their queries regarding the CA Foundation syllabus, paper pattern, and previous year’s question papers answered. VSI has been able to get AIR 1 seven times in the last 10 years.
Key Points to Clear CA Foundation in First Attempt
Now let us understand all the important points to keep in mind and apply while preparing for CA Foundation Exam.
Do Smart Work Here
Hard work will only lead to success if it is done smartly. So emphasis more on smart work rather than hard work. Instead of starting to read every chapter from scratch. Start with knowing the syllabus and timetable thoroughly. Once you know what you already know and what you don’t. Then you can move on to going through the previous year’s question paper, listing down all the important topics. Now you have knowledge of the entire course and at the same time know which are the most important topics.
Priority to Most Important Topics
The next step is to prioritize all the important topics. We already know all the important topics, as listed by us in the previous exercise. It’s time to first study them and get every single concept of the topic crystal clear. The weightage of the important topics is usually more and covering them first will increase our chances of scoring more.
Consult Previous Year Question Papers
Previous year question papers are a goldmine for students if used to their full potential. The students can know important topics, paper patterns, and marks distribution from the previous year’s papers. But also at the same time, it can help you achieve time management by practising these papers regularly. You can also list down and practice different types of questions which will give you the confidence to perform better.
By revising scientifically we mean to revise in a way that you remember everything in your exam properly. Like to not forget to revise what you know well so that you remember it as well during the time of exams. The scientific aspect of it is to revise the topic you have studied in the last 24 hours within the next seven days for proper retention.
Attempting Mock Tests
Most of the students take tuition for the CA Foundation exam. And each of these institutes provides its own series of mock tests. The mock test can help you gain confidence and also lets you know which topics need more practice. Most of the students do not consider solving mock tests and thus end up failing the exam. Hence, it is important to keep in mind to solve as many mock test papers as possible for the students.
Time Management Tips for the CA foundation
Each CA Aspirant has the same amount of months to prepare for the foundation exam. But still, few end up completing a course on time and few struggle to complete everything last minute. There are a few points one can consider in achieving time management.
- Setting Small and Realistic Targets Every day- Make sure to not get unnecessarily overboard with your everyday goals. It can lead to procrastination and failure in achieving set goals.
- Do Not Procrastinate- Now that you have set an achievable goal for the day or month. Do not procrastinate, rather be proactive in achieving the goals.
- Don’t Study More than Two Hours at A Stretch- Make sure to keep your entire day a combination of both theoretical and practical subjects.
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So, follow these tips and all the best for your CA Foundation June 2023 exams.