Jay Gosalia - AIR 35 CA Final May 2016 - Mumbai, Maharashtra
Jay Gosalia

I am Jay Gosalia, born and brought up in Mumbai. I did my schooling from PVG’s Vidya Bhavan & completed my graduation from RA Podar college. I secured AIR 35 in CA final, AIR 23 in IPCC & AIR 10 in CPT.

My dad, Mukesh Gosalia, is a business man & my mom, Bhavna Gosalia, is a home maker. My younger brother Vishal is also pursuing Chartered Accountancy. Right from childhood, I had keen interest in numbers & developed great liking towards accountancy post my SSC. This was the time when I decided to pursue CA.

My first reaction


My first reaction was sheer joy & happiness. However, the highest order of delight was to watch sense of pride & happiness in the eyes of my parents. That made me content.

The credit of all this will firstly go to my parents & younger brother, who have always supported me. I will also give credit to my principal, seniors & colleague’s from my articleship firm and my friends who have always been with me to contribute towards my learning and developing me into what I am today.

Articleship


I did my internship from Shaparia Mehta & Associates, LLP, mid-sized firm in Mumbai. My firm played a significant role in preparing me for examination since I was exposed to various fields of work ranging from audit, tax, due diligence, special audit, etc. This helped me gain practical knowledge & expand my views regarding various aspects.

Preparation


I joined coaching institute Professional Academy and started my self-study for CA final 5 months before exams, i.e. in December 2015. During the first 2 months I could manage only for 4-5 hrs per day, since majority of my day was occupied by classes, and last 3 months I could study for 12-14 hours a day.

Strategies


A. Study schedule
Study schedule was simple, approx. 4-5 hours a day during first 2 months and 12 hours a day during next 3 months. I generally took a day off every 2 weeks in order to get a break and feel relaxed. I used to take only 1 subject at a stretch, however kept ISCA & audit as my daily breaks from usual subjects. I gave majority time to my weak & average subjects, and gave only limited time to my strength, i.e. practical ones.

B. Strong and Weak subjects (How did I prepare them?)
My strength were practical subjects, FR, SFM & AMA, which I kept at last for studying, so that I would allocate only that much time which is required to polish them. I concentrated more on my average subjects, DT, IDT & law, so as to make sure I could score, if not exceptional, at least above average marks in them.

Audit and ISCA were my weak subjects, which I studied 1-2 hours daily during the last 3 months.

Books and e-sources


I referred my coaching institute books for all subjects other than audit.

  • FR- Prasad sir
  • SFM- Shridhar sir
  • Audit- Aseem Trivedi sir for audit standards & VK Agarwal for other topics
  • Law- Amit Karia sir
  • AMA- Anuj sir
  • ISCA- Jignesh Chedda
  • DT- Durgesh sir
  • IDT – Durgesh sir

Apart from above, I did practice manuals only for my weak areas and places which I felt I require practice, that is DT, Law, Audit and SFM.

Mock tests


I did not attend any mock tests conducted by ICAI, however did go through few question papers of mock tests and past exams.

Rank and preparation


I was not preparing for rank in CA final, since I did not want to stress myself out for an exam. However, I did make sure I give my best during the study leave, not for rank, but surely to achieve whatever I deserve, leaving no regrets for future.

Future Plans


My plan right now is to get into corporate world & take this learning to the next level by exploring new opportunities.

ICAI Campus


I am not preparing specifically for campus, however regular newspaper reading and staying updated with current affairs will surely help.

Advice to fellow students


My advice to the students is that don’t be stressed and don’t think about anyone’s expectations. Make your own expectation and make sure you give your best to achieve it. Remember, you are the best judge for yourself, health is equally important in life & CA is merely an examination.

It is not necessary to always isolate yourself by switching off WhatsApp/Facebook, or sacrificing your sleep for studies, you surely have to give your best within the available time and by taking steps you might feel necessary, but at the end of the day it is merely an examination & if you deserve, there is no one who is going to stop you from achieving it. Give CA for passion, and keep learning from it daily, it is neither difficult nor boring, but it’s the most exciting venture to experience.