Rank: 43, Batch: Nov2014
Place: Faridabad, Haryana
My first reaction
It was a great surprise for me. Like every student, firstly I tried to find the word ‘PASS’ in my marks sheet and when I realised that I have become a chartered accountant, I was on cloud nine. After that, when I checked my rank, I was completely stunned. It was an out of the world feeling for me and my parents as well.
Many people have contributed to my success and still contributing. So credit of my success goes to them which includes my family, my teachers, my boss, my colleagues and my friends.
I did my articleship from a medium size firm where I got practical exposure to audit and taxation work. During articleship, a person learns the practical application of theoretical aspects. And the things which we learn practically lasts in our mind for longer period. My articleship experience helped me a lot in preparation for exams, especially in subjects like Financial Reporting, Corporate Law and Tax.
I firmly believe that it depends on individual’s potential and choice, and I chose to take coaching for some subjects while I prepared some of the subjects by self study only.
And yes in my opinion it is necessary to join coaching institute for some of the subjects which can help you to get the concepts in more clear way.
I used to study for 8 hours on an average for 5 months. Its very important to take proper sleep for effective study and concentration. So I never compromised with my sleep and frankly speaking I don’t believe in being a nerd. I used to socialise and even party sometimes to keep myself happy. And my main focus was not on the number of hours to be spent on study per day but on the syllabus supposed to be covered in that particular day.
As I am good at practical subjects so I was a bit confident about them, so I focused more on theory subjects. I used to try to revise the things again and again to memorise them but yet again failed to secure so well in theory subjects. But yes practical subjects helped me to compensate that loss and securing a rank. So I must suggest, focus more on your weak areas as no matter how good you are at one or more subjects, at the end what matters is your overall performance.
Books and e-sources
I referred the following books :-
1. Financial Reporting – Praveen Sharma
2. Strategic Financial Management – Aditya Jain
3. Auditing – Surbhi Bansal and Pankaj Garg
4. Law- Munish Bhandari
5. Advanced Management Accounting- Sanjay Agarwal
6. ISCA- Dinesh Madan
7. Direct Tax- Vinod Gupta
8. Indirect Tax – Dippak Gupta
I also referred to institute’s Study material and Practice manuals.
Not really the ‘mock tests’ but yes, I referred the last year papers of all the subjects. It is necessary as though question paper is different every year but it can help you to analyse your preparation and find out the important topics to be covered more precisely.
Rank and preparation
I think while preparation, everybody gives his/her best efforts and so did I. But yes, I was really hoping it would be great if I could make it again as hopes were really high after my IPCC result (I got 31st rank in IPCC). But I was never so sure. It came as a pleasant surprise to me. And my mantra for preparation was to finish my syllabus at least 2 months before the exams so that I could get enough of time to revise it at least 2 times which helped me to avoid the last minute nervousness and anxiety.
I don’t think starting practice at this earlier stage would be a good option to go with. I still have much more to learn. So I would love to go for corporate to get some exposure first so that I can start my practice once I will be done with enough of knowledge and resources needed to start a practice.
I am taking tips to clear group discussions and how to go through the interview sessions from my friends and relatives who are already part of big firms. Along with that, I am working on my weaker areas and communication skills as well, keeping myself updated with latest happenings and trying to revise at least important topics of the syllabus as revising the full fledged syllabus is not feasible.
Advice to fellow students
The foremost advice from my side will be, Guys!! please do take your coaching classes seriously which most of the students don’t do. Our subject teachers have expert knowledge and can help us in a great way to get all our concepts clear. And once concept is clear, we don’t need to spend much time on memorising the things.
And secondly, try to revise the things at least twice or if possible thrice before the exams so as to avoid the last minute confusion and anxiety.
Last but not the least, do not get nervous during the exam because those 3 hours works like a pressure cooker for everyone and being calm at that time is really important. Do read your question paper peacefully and strategize the things accordingly to give your best at that time.