Gaurav Piyush Raichura
Rank: 37, Batch: May 2018
Place: Mumbai, Maharashtra
My first reaction
When I saw my result, my mom was in the kitchen, I shouted out loud Pass twice and roared 37th Rank that I believe almost my entire floor could hear it. Calling out pass twice meant I have cleared both the groups. Well, such a code was not predecided but I feel everyone understood its meaning. As soon as my mom heard it she came running towards my and hugged me tight and I could see immense happiness on her face. My dad was with me while watching the results and his smile had no reason to stop and he too hugged me tight. I was happier to see their chest filled with pride than with the result I had achieved. There are numerous hands responsible for this success and it would be an insult to others if I name a few on this forum. However, I would like to accredit this success to my late Grandpa whose invisible force and support has always guided me in the correct direction.
I have completed my internship from GBCA & Associates LLP, Chartered Accountants. Well, few people start studying from day one while compromising in the quality of work they can get, while there are other who focus on learning alongside working. GBCA taught me to learn alongside work. It is like a family here, where every other person is ready to mentor/guide you. Partners are equally approachable. There are always takeaways from every assignment, its just a matter of how you approach the task, mentoring by seniors, and the material you refer during the work. So, yes when I actually started studying during my examination leave, I could relate and recall most of my assignments with theory. This helped me to understand the concepts faster.
I started studying only during my study leave and studied most of concepts from study material by ICAI. I understand there is a fear amongst many students that ICAI material is very lengthy. It is a common fear because we are too lazy to have the self discipline to actually take the efforts of self-study. Well, I do not think that classes are required and if one has the self-discipline, he/she will not require coaching classes. If you look at it closely, it has actually become a trend to join classes. No one applies mind whether they can do it themselves, they are always busy thinking “which” classes to join.
A. Study schedule
Well, since I had started studying only during the study leave, I knew I had to put in efforts from day one. I did not prepare a schedule for daily basis, however I understood from my seniors that I should be able to complete my 1st reading in first 2 months, the 2nd reading in 1.5months approx. and my 3rd reading should start by last week of March latest. I used to check my progress on weekly/half weekly basis in order to not deviate a lot from my schedule. I followed the above schedule during my leave, ofcourse there were deviations during the actual implementation of schedule, I tried to manage it. For the number of hours, I had put in, well I never calculated. If I knew certain concept would take me more than it should usually, I used to cover the time lost with the concepts I could grab faster. On a broad broad basis, it was 10-12 hours of studying on daily basis.
B. Strong and weak subjects (How did I prepared them?)
I am stronger in practical subjects as compared to theory. However, what I have understood during my study leave is, there are no favourable/unfavourable subjects, its always the amount of hardwork you put into each subject and the results you achieve. If you are stronger in say for eg. Taxation, but you ignore that subject during study leave and focus only on say Audit, it doesn’t take a rocket science to conclude that your audit marks are going to be better than you had expected, even though your forte is Taxation, you might just lose up some marks in easy basic concepts. I’d say balance the timetable in a way that proper attention is given to all the subjects and focus more on your weaker subjects without compromising on the stronger ones.
Books and e-sources
I would recommend ICAI material and any author one is comfortable is with. The primary source of study should be either the ICAI Material or hand written notes, authors can be referred for further clarity of concepts or advanced problems available in their books. Also one can buy summary notes of these authors and then add their own points/missing concepts from ICAI material/complete version of authors books/classes notes.
For ESources, there are numerous video lectures on YouTube covering many concepts. For people who will be appearing for May’19 attempt onwards, I’ll suggest to start making your own database of video lectures from YouTube. This will help you to quickly cross check your understanding on study leave.
Yes, I had attended Mock conducted by ICAI. I do not think they are a “necessity” for success, but again one should be able to evaluate oneself and then decide whether mock tests are required. I appeared for mock to understand my writing speed, whether I was able to recall the concepts during time constraints, and to understand in which concepts I lacked clarity. I would not suggest anyone to always wait for ICAI mock tests for self check, but after 2 readings, I feel there should be one self evaluation check to track the progress and whether one is on the correct path.
Rank and preparation
To be frank, with the support and motivation from my office colleagues and friends, I was always of the opinion I would clear the Finals, however a rank was something unexpected. There is always a thought which makes you happy, a thought about which when you think an involuntary smile emerges on your face. For me, the thought was a broad smile and pride on my parents face. From what I have learned, it is not always necessary to keep running, sometimes one should also sit aback and then thrust forward.
I’m planning to enter the corporate world.
Brushing up of concepts and keeping updated with changes around me.
Advice to fellow students
- Trust yourself
- Do not underestimate yourself just because someone else has completed the revision before you
- Maintain your pace
- Relate the concepts to real life situations to get a proper understanding
- Revise continuously
- Always be graceful and help solve queries of others, it not only helps you revise the concepts better but makes your understanding deeper
- Never change books while on study leave, prepare well in advance from which book you will study