Rank: 25, Batch: May 2016
Place: Chandigarh, Punjab
My first reaction
To be very honest, I was having bath when my result came and my friends were constantly calling. And when I was opening the result the site wasn’t opening. But when it opened I just saw the word pass and firstly I took a breathe which I had held from 5 minutes and then told the result to my parents. My parents had tears of happiness in their eyes and then all my hard work was paid to me.
All credit for my success goes to my family who have done more hard work than me during my preparation days. I also want to give credit to my teachers for the knowledge they shared and being a guide all the way. My friends also deserve a big credit for my success as they gave me all the positivity and encouragement I needed.
I did my internship from Mehan Associates, Chandigarh. Though a mid-sized firm, I got the opportunity to learn diversified work that ranged from indirect taxation to finance and from direct taxation to corporate affairs. Being practically associated with the material we read in books helped me understand the things in a better way and I could easily handle the complex questions.
In my opinion preparing for CA final examination requires a lot of precision, analysis and time management. You have to combine your hard work with the smart work. There has to be a perfect plan that you need to follow during that 4-5 month period of preparation in order to succeed in this exam. I started preparing for my May 2016 exams from November 2014 itself and took up SFM tuitions. After that it was ISCA, followed by Law and Direct tax and I joined for Indirect Tax during last 6 months. I did self study for Financial Reporting, Advanced management accounting and Audit.
In my opinion, there are a few subjects in our syllabus that require guidance and expertise and this was the reason I chose to take coaching for a few subjects. In case, you have a time dearth, subjects like law, audit and FR can be easily prepared by self study.
A. Study schedule
During my coaching days, I made it a habit to revise whatever was done in the class immediately after the class with a friend to brief the 3 hour lecture in 15-20 minutes and then detailed revision at home. As soon as I got my off from office, slowly and steadily I started increasing the study hours, that ranged from 5-6 hours initially and went up to 14-15 hours a day. I paired up a practical and theory subject during my revision in order to keep up the interest and pace.
B. Strong and Weak subjects (How did I prepared them?)
From the very beginning, I was pretty sure that my strength lied in practical subjects like SFM, Costing and FR. Apart from these, laws – direct and indirect taxation and Company & Allied laws interested me as I like to read bare act and make interpretations. So, my strategy was clear, strengthen your strengths and keep a check on the weak ones and strategically deal with them.
Books and e-sources
- Financial Reporting- Parveen Sharma Sir’s modules
- SFM- Sanjay Saraf notes + Supplementary Material of institute
- Audit- Pankaj Garg book
- Law- Swami Sir Notes( Teacher in Chandigarh) + Practice Manual
- Direct Tax- Vinod Gupta modules
- Indirect tax- Manoj Batra modules
- ISCA-Swapnil Sir modules
- Cost- Sanjay Aggarwal notes + Practice manual
- ESources- ICAI’s knowledge portal for mocks and RTP’s
Though I didn’t attended any mock test conducts but I certainly solved all the mock test papers available on ICAI’s website. I had allocated special time for such papers and solved the previous attempts question paper. And solving these mocks definitely gave me the confidence to face my final exams with perfection and precision.
Rank and preparation
I wasn’t actually preparing for a CA Final Rank but I have a different approach – “Fight for each and every mark”. So I was focusing on total 800 marks. There were times when my momentum went slow but I kept attitude positive, took a short break, recollect my energy, and then start again with a push start.
From the very beginning, I was quite sure that I would be entering the corporate world after I complete my CA and tend to take up that task now.
I’ve made it a point to read newspaper daily apart from the latest amendments in the tax and law provisions. I am brushing up my communication skills and working on my soft skills in order to grab the best opportunity that I could get during the campus.
Advice to fellow students
For all the Future CAs, One thing that I advise to everyone is to “Be very Positive and Just stay away from negativity”. Combine your hard work with smart work, make plan and keep reviewing them constantly and Manage your Focus not your Time.