Rank: 45, Batch: Nov 2015
Place: Mumbai, Maharashtra
My first reaction
A friend actually informed me my score first. I was delighted to learn that I had cleared and heaved a huge sigh of relief and then I was thrilled when he said I had got an All India Rank. Those couple of hours and the euphoria at home on that day will be cherished forever. Most of the credit should go to my family, especially my mother for always being there for me and giving me the base that she has while teaching me during school days and a couple of close friends who have at times handheld me.
I completed my internship from Ernst and Young LLP in the transfer pricing-tax team. Pursuing internship at EY certainly helped in broadening my horizons. Academically it helped me in direct tax as I had done few of the chapters practically. Also when you have put in long hours at work, you tend to find it easy to put more hours while studying.
I had enrolled for practical subjects including direct taxes and in the hindsight enrolling for only practical subjects seems to have paid off. I got the best of the coaching where I needed (FR/SFM/Costing/DT). CA Final coaching classes might not spoon feed you but they will help you in at least making you aware of the curriculum and how you should go about it. Honestly theory subjects like Law and Audit require a lot of self study. One may decide on enrolling for ISCA and IDT. For me self study even in these subjects was enough.
A. Study schedule:
Its very important to plan and strategize your schedule so that you study smart and not hard. My study schedule was divided into block of 7-12 days for each subject for the first reading and 4-6 days for the first revision. I also ensured that I revised ISCA and Law for the second time. One thing I had liked to advise is that you should plan those one and a half days before every exam on a piece of paper well in advance.
B. Strong and weak subjects (How did I prepared them?)
I decided to put in extra efforts in subjects like ISCA, Law and IDT as I found these subjects tricky yet scoring if they are studied in an organized manner and keeping the past trends in mind. I ended up scoring the most in these subjects. ISCA and DT & IDT case laws should ideally be studied every day for an hour or so. This reduces the back log at the end.
Books and e-sources
- FR/SFM/Costing/DT : Class notes, PM, RTP
- Audit : PM & VK Agarwal
- Law: Munish Bhandari Main book for Corporate Law. Handbook and PM for Allied Law and Companies Act’1956 provisons
- ISCA: Study Material and PM
- IDT : Yashwant Mangal
No. I really did not have the time to attend mock test papers but ideally if time permits one should at least appear for mock test papers for the subjects you find difficult.
Rank and preparation
I believed that if you sincerely prepare for those four and a half months you might just get a rank. It turned out to be pretty true. But I also believe that if you just keep thinking about the result it serves no purpose. Put in the best you have got and success will follow.
A senior had once told me that in these 4 months there will be times during which you will feel down and out but just remember to keep going at the curriculum. Turns out to be true as well.
CA opens up a lot of avenues in the corporate world and I am planning to pursue one of them.
I have been asking a couple of seniors and I am still analysing my options. Lot still needs to be done on that front.
Advice to fellow students
CA is definitely not amongst your conventional courses. If you have chosen it, ensure that you give it the best that you have got always. No doubt it requires you to put in lot more efforts but hopefully in the end it will all count.