Deepak Singhania - AIR 47 CA Final May 2017 - Thane, Maharashtra
Deepak Singhania

Hi, I am Deepak Singhania. I am 22 years old and reside in Bhayander which is a small city in Thane District. Talking about my family, I live in a joint family where we are 11 of us. Since my Dad is a businessman, there must be someone to take care of the business once he retired (Though he never wants to retire), so I chose Commerce after 10th Std even though I wished to be a Doctor for which I had to choose Science.

It was after my first year of Junior College where I had to choose which Professional Course I wish to pursue. For most of the students in commerce stream, there are only few most obvious options like C.A, M.B.A or some self financed course post 12th Std. You must be wondering why did I make a decision just after 11th, normally we need to choose after 12th, but there were these Combo Lectures (12th+CPT) conducted by J.K Shah classes which I wished to enroll. Now when I look back, they all seem to be wise decisions made at the right moment.

My first reaction


Before letting you know my first reaction, I want to give up some insights of what I felt before the result. Unlike most of the rankers who are very sure of clearing and waiting to have their names in the merit list, I was very scared of Audit and Law (which is obvious from my marks as well which are 46 and 45 respectively). I always knew that if I cleared in these two papers, I would crack CA Final. On the result day itself, I started counting my marks from my Audit Question Paper, which is not an advised thing to do as it adds to the pressure rather than releasing it.

Since I have a joint family, all of my siblings and I sat with mobile phones and Laptops which we had, staring at the screens, hoping to see those two magical words which would change our lives forever. The result came around 11.30 am, I entered the required details with shivering hands, praying to all the Gods known to me and then there was a moment of utmost peace where we all glanced at the screen to see the two magical words “Pass” and “Pass”. I bursted in tears holding my Mom and Grand Mother in both my hands, hugging them, thanking every God, my ancestors to make this happen. Then after 15 odd minutes of crying and enjoying the moment, we looked into the merit list to check if I got a rank, which turned out to be 47th. The happiness of getting a rank at CA Final had no bounds, it took me hours to gulp the same.

I want to give thank my entire family for being with me, for bearing my tantrums, for not losing on me when I behaved unreasonably (especially my Mom), my friends who supported me throughout the journey be it the doubt solving part or motivating me whenever I felt demotivated, my professors who taught me so well that I had my concepts clear even when I didn’t revise the concepts at the last moment and everyone who wished for my success.

Articleship


I did my articleship from Deloitte Haskins and Sells LLP, Mumbai in Statutory Audit Department. If you get enough leaves for the exam, it obviously helps you prepare for the exam which in my case was 6 months. Apart from leaves, the concepts which we study academically can be understood well when we implement them in our tenure, which could be very subjective. In my case they were the concepts of consolidation which we study in Financial Reporting, Auditing which I implemented on my clients, so Yes those helped me a lot.

Preparation


I had joined Mahesh Tutorials for CA Final. According to me, joining some classes for CA Final is a very subjective thing because it all depends on the sincerity of the student. Frankly, I am not that sincere a person who will sit with his books on weekends and study just because he saved the time by not attending classes. For me when I look at my friends attending lectures and studying, it is that competitive spirit which drives me to study. But I have friends who did not join any class and passed with flying colors. So in the end, what matters is how dedicated and determinant are you to crack CA.

Strategies


A. Study schedule:
As you know, I got a 6 months leave which is not the normal things nowadays, so for the first month I concentrated on the lectures conducted by Mahesh Tutorials (morning and evening both). In December I realized its high time to start self studying.

I used to target approx. 12 hours a day which is not possible from the start but yes after some time you get used to it. I completed my First read in mid February and second in mid April. I planned for 3 reads but didn’t get the time. So for the remaining 15 days, I solved 3 past papers, 2 RTPs for all the subjects so that we get used to solving the questions.

Books and e-sources


The books which I referred to are as follows:

  • Financial Reporting: Mahesh TB, PM, Module, DS Rawat (AS and IndAS)
  • SFM: Mahesh TB, PM, Module, Sridhar, Supplementary
  • Audit: V.K Agarwal, PM
  • Law: Module (Corporate Law & Banking, Insurance, SARFESI Act), rest from PM, Supplementary.
  • Costing: Mahesh TB, PM, Module.
  • ISCA: Module, PM.
  • DT: Nihit Javeri’s Notes, PM, Supplementary, Case Laws.
  • IDT: Vidyadhar Vaidya Notes for main laws and common procedures from Bangur.

Mock tests


I didn’t attend mock tests but Yes I did solve the Mock question papers because there are high chances of those questions or similar concepts repeating in Final exams.

Rank and preparation


Frankly, I am a person who keeps very low expectations and so never prepared for a rank. I just wanted to achieve those 400 marks and wished to write such papers that post exams I never have to worry about those 400 marks anymore. Whenever you feel demotivated, just think about the sacrifices which you have made preparing yourself for this exam and can you make such sacrifices again.

Future Plans


From the professional front, I wish to enter into Investment Banking-Buy Side as my goal is have my own Portfolio Management Services someday. On academic front, I have already enrolled for CFA Level 1 conducted this December, 2017.

ICAI Campus


I read Economic Times on a daily basis to be aware of the happenings around the world. Apart from that, I read about the Company for which I am being interviewed, news related to the sector in which the Company is performing, growth prospects of the Company and the sector. Since GST and demonetization are hot topics for us, I read the pros and cons of these on Indian economy and their impact on the sector in which the Company operates.

Advice to fellow students


My advise to all CA Students would be to give your 100% while preparing for your exams and for that matter in whatever you do in your life. Strive so hard, that you don’t have to use the words “Kash” in your lives. Also don’t regret your decision of joining CA. Respect your decisions and realize that since it was your own decision you don’t have right to crib about it. CA is a great degree to possess. The respect, the honor which you command once you are a CA, are somethings which you all won’t realize while studying but today when I look back, I do realize everything is worth it. Missing your beautiful days of college be it for IPCC exams or articleship, forgoing everything which is going on around you is something very tough, but in the end it all Worth.