For CA Final preparation, it is important to follow the study material offered by the ICAI along with the prescribed books. Experts and previous years rank holders believe that the study material alone is enough to cover the CA Final exam syllabus.
CA Final preparation in 4 months - The more one sweats during the exam preparations, the more they relax while searching for the jobs. Though no one postpones their preparations for ICAI CA Final exam for the last four months, it is still possible to prepare effectively and clear the examination in this time duration. However, you will need to put in a lot of hard work and determination. While preparing for CA Final exam in such a short time span, one has to remember that smart work pays better than hard work.
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How to clear CA Final in 4 months?
In order to get a rank in the CA Final examinations, they have to clear both the groups of CA Final exam in a single attempt and they should not avail any past exemptions. The candidate has to secure a minimum of 55 per cent marks in the single exam attempt.
Q: What is the difficulty level of ICAI CA Intermediate exams?
Q: How can I prepare for CA Final?
CA Final is the toughest level of the course, thus you will need to work really hard. Here are some basic CA Final preparation tips for you.
Step 1: Check the CA Final syllabus
- Check the syllabus for the CA Final exam. It has two groups.
- Understand the marking scheme and the weightage of each subject.
Step 2: Make a time table for CA Final preparation
- Allocate time for each paper and stick to the schedule.
- Set aside dedicated study hours for topics you find tough.
- Join a coaching institute for guidance and mentorship
Step 3: Refer to study material including, books and practice sample papers
- Study from the recommended textbooks and study materials only.
- Practice with sample papers and revision tests to improve your understanding of the topics and concepts.
Step 4: Analyse your preparation, take mock tests and revise
- Analyze your progress and identify your strengths and weaknesses.
- Take mock tests to gain control on tough topics.
- Revise notes regularly to retain the information.
Remember, CA Final is a high difficulty level course and requires consistent and dedicated effort to clear. It is a known fact that no one can clear it in the first attempt. So, don’t get bogged down by low performance in the first attempt. Keep at it.
Q: What is the difficulty level of ICAI CA Final exams?
The difficulty level of CA Final exams is the highest among all the as the course is vast and extensive. The CA Final exam includes papers such as Corporate & Economic Laws Part I: Corporate Law, Economic Laws, Strategic Cost Management and Performance Evaluation, Direct Tax Laws & International Taxation, Goods and Services Tax, Direct Tax Laws & International Taxation, etc. which are tough to crack. The pass percentage of CA Final exams is low as low as 25 per cent in a particular session and students need multiple attempts to clear this level. Even after completing the CA Foundation and CA Intermediate levels, candidates find it tough to clear the CA Final level.
Keeping these high parameters in mind it is important for Chartered Accountancy students to make complete use of these last four months’ time and cover the syllabus accordingly. They should divert themselves from all distractions and diversions such as social media, get-togethers with friends, family functions etc. and pour in their 100 per cent towards exam preparations. It is also a good idea to take help from a reputed coaching centre and device the study strategy according to the time table planned by them.
Tips to clear CA Final exam in four months
It is important to follow the CA Final study material provided by the ICAI along with the prescribed books while preparing. Experts and previous years rank holders believe that the study material alone is enough to cover the CA Final exam syllabus. It is important to devise a clear timetable for daily study hours and to include every single subject of CA Final course in the daily plan. However, the key is to stay focused on the subject and to stay away from distractions.
Experts suggest that one will need to study for more than 15 hours a day with frequent rest breaks and food breaks in between to refresh the mind, in order to prepare for CA Final in such a short duration.
Q: How should I proceed to attempt CA final November exam?
Q: Can I crack CA Final by self-study?
It is not easy to crack CA Final by self study as one needs guidance and mentorship at various stages of preparation. Most of the CA students opt for coaching as it helps them study in a disciplined and dedicated manner. However, one can also crack the CA Final course level by self-study, if they are determined, dedicated and disciplined in their preparation. Also refer to the study material provided by the ICAI. To prepare by self study, one will need to first set clear goals, make a study time table and prioritise subjects. They will need to allocate a good number of hours daily to study. Practice test and revision are integral part of exam preparation, so the practice a good number of previous years question papers and sample papers.
Q: Who was the CA Final May 2023 Topper?
Check below the names and scores of All India top ranked candidates who cleared the CA Final course in May 2023.
CA Final AIR | CA Final Topper Name (May 2023) | CA Final Scores and Percentage |
---|---|---|
AIR 1 | Akshay Ramesh Jain | 616/800 (77 %) |
AIR 2 | Kalpesh Jain | 603/800 (75.38 %) |
AIR 3 | Prakhar Varshney | 574/800 (71.75 %) |
Q: How tough is it to clear CA Final in first attempt?
CA Final is a very high difficulty level exam and it is very, very tough to clear in the first attempt. The pass percentage of CA Final is usually 25-30 percent in every session so one can understand how difficult is it to actually clear the CA Final papers in first attempt. Any student usually needs 2-3 attempts to clear the CA Final exam.
CA Final Syllabus
CA Final Preparation - Syllabus - New Scheme of Education and Training
Given below is the syllabus of CA Final exam under New Scheme. Candidates must focus on these subject and study them thoroughly. It will require long hours of study to cover the CA Final syllabus in four months.
CA Final Syllabus Group I |
Chapters |
---|---|
Paper-1:Financial Reporting |
Introduction to Indian Accounting Standards Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) Ind AS on Presentation of General Purpose Financial Statements Ind AS on Measurement based on Accounting Policies Ind AS 115 “Revenue from Contracts with Customers” Annexure: Division II of Schedule III to the Companies Act, 2013 Ind AS on Assets of the Financial Statements Other Indian Accounting Standards Ind AS on Liabilities of the Financial Statements Ind AS on Items impacting the Financial Statements Ind AS on Disclosures in the Financial Statements Accounting and Reporting of Financial Instrument Ind AS 103 “Business Combinations” Consolidated and Separate Financial Statements of Group Entities Ind AS 101 “First-time Adoption of Ind AS” Analysis of Financial Statements Professional and Ethical Duty of a Chartered Accountant Accounting and Technology |
Paper-2:Advanced Financial Management |
Financial Policy and Corporate Strategy Risk Management Advanced Capital Budgeting Decisions Security Analysis Security Valuation Portfolio Management Securitization Mutual Funds Derivatives Analysis and Valuation Foreign Exchange Exposure and Risk Management International Financial Management Interest Rate Risk Management Business Valuation Mergers, Acquisitions and Corporate Restructuring Startup Finance |
Paper-3:Advanced Auditing, Assurance and Professional Ethics |
Module 1 Quality Control General Auditing Principles and Auditors Responsibilities Audit Planning, Strategy and Execution Materiality, Risk Assessment and Internal Control Audit Evidence Completion and Review Reporting
Module 2 Specialised Areas Audit-related Services Review of Financial Information Prospective Financial Information and Other Assurance Services Digital Auditing & Assurance Group Audits Special Features of Audit of Banks & Non-Banking Financial Companies
Module 3 Overview of Audit of Public Sector Undertakings Internal Audit Due Diligence, Investigation & Forensic Accounting Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance Professional Ethics & Liabilities of Auditors |
CA Final Syllabus Group 2 |
Chapters |
Paper-4: Direct Tax Laws & International Taxation |
Module 1 Basic Concepts Incomes which do not form part of Total Income Profits and Gains of Business or Profession Capital Gains Income from Other Sources Income of Other Persons included in Assessee’s Total Income Aggregation of Income, Set Off or Carry Forward of Losses Deductions from Gross Total Income
Module 2 Assessment of Various Entities Assessment of Trusts and Institutions, Political Parties and Other Special Entities Tax Planning, Tax Avoidance and Tax Evasion Taxation of Digital Transactions Crossword Puzzle
Module 3 Deduction, Collection and Recovery of Tax Income Tax Authorities Assessment Procedure Appeals and Revision Dispute Resolution Miscellaneous Provisions Provisions to Counteract Unethical Tax Practices Tax Audit and Ethical Compliances Questions based on Significant Select Cases Crossword Puzzle
Module 4 Non Resident Taxation Double Taxation Relief Advance Rulings Transfer Pricing Fundamentals of BEPS Application and Interpretation of Tax Treaties Overview of Model Tax Conventions Latest Developments in International Taxation Annexure Crossword Puzzle |
Paper-5: Indirect Tax Laws |
Module 1 Supply under GST Charge of GST Place of Supply Exemptions from GST Time of Supply Value of Supply
Module 2 Input Tax Credit Registration Tax Invoice, Credit and Debit Notes Accounts and Records; E-way Bill Payment of Tax Electronic Commerce Transactions Returns
Module 3 Import and Export Under GST Refunds Job Work Assessment and Audit Inspection, Search, Seizure and Arrest Demands and Recovery Liability to Pay in Certain Cases Offences and Penalties and Ethical Aspects under GST Appeals and Revision Advance Ruling Miscellaneous Provisions Customs and FTP
Module 4 Levy of and Exemptions from Customs Duty Types of Duty Classification of Imported and Export Goods Valuation under the Customs Act, 1962 Importation and Exportation of Goods Warehousing Refund Foreign Trade Policy |
Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) |
Case Studies |
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CA_Final_Paper_6_f_Case_studies
CA Final Syllabus – Old Scheme of Education and Training
Given below are the topics included in the syllabus of CA Final under Old scheme. While studying these topics for CA Final exam, candidates must focus on the fundamentals.
CA Final Syllabus – Old Scheme of Education and Training |
|
---|---|
Paper – 1 : Financial Reporting |
Paper – 5 : Advanced Management Accounting |
Paper – 2 : Strategic Financial Management |
Paper – 6 : Information Systems Control and Audit |
Paper – 3 : Advanced Auditing and Professional Ethics |
Paper – 7 : Direct Tax Laws |
Paper – 4 : Corporate and Allied Laws |
Paper – 8 : Indirect Tax Laws |
Subject-wise CA Final exam preparation module
Here we have shared some basic tips to follow while preparing for the CA Final exam in 4 months. Students must take care to cover the syllabus thoroughly for both CA Final Group 1 and Group 2.
CA Final Syllabus: Financial Reporting Preparation Tips
This is one of the most important yet tricky subject at the CA Final examinations. Some of the topics that deserve tremendous practice in this paper are Amalgamations, value-added statements, valuations, consolidation, mutual funds, NBFC, ESOP, AS and Indian AS, etc. While preparing the chapter of amalgamation, it is important to keep a set of journal entries at hand to save time. Topics such as AS and Indian AS, valuation are most important that demand strenuous practice. The best books for CA Final to follow to get good marks in this subject are the study material offered by the institute and the Tulsian comprehensive self-study book for CA.
CA Final Syllabus: Strategic Financial Management Preparation Tips
This subject of CA Final syllabus is full of formulas and thus it is important for the aspirant to be well versed with all the formulas. They must keep a separate notebook for formulas for quick reference and revision. One can buy the Gaurav Jain Formula book - CA Final SFM Formula Booklet by CA Gaurav Jain.
It is important to be very clear and thorough with the basic concepts and terminologies that are used in the CA Final study material. While preparing the problems in the subject it is not wise to neglect its theory portions. Theory based questions are asked from dividend policy, bond valuation, mutual fund and amalgamation. Aspirants can refer to the ICAI study material and the Ravi Kishore book for reference purpose.
CA Final Syllabus: Audit and Law Preparation Tips
This topic of CA Final is the basic framework for theory questions in the examination. The way one writes the answer and the language they use is the key to scoring good marks in this paper of ICAI CA Final exam. It is important to write the answer with a high level of professionalism. Thus, CA Final 2024 student must religiously follow the ICAI study material to study and use the same language while attempting this paper.
CA Final Syllabus: Costing Preparation Tips
To prepare the costing paper of the CA Final course better, it is a good idea to make a chart of formulas for standard costing and other chapters involved in it. In this paper too, it is important to concentrate on its theory portion as well. This is one subject that demands lots of practice so as to yield the clarity of the concepts. The study material provided by the ICAI is enough to prepare for this subject.
CA Final Syllabus: ISCA Preparation Tips
The Information systems in CA is both tough and easy at the same time leaving the aspirant confused with its extensive study volumes. Note-taking while preparing various topics of CA Final ISCA will be beneficial while revising for the exam at the last moment. When questions are asked from this subject, it is important to attempt the answers point-wise and refrain from writing big essays. Including the definitions in the answers will fetch additional marks.
CA Final Syllabus: Direct Taxation and Indirect Taxation Preparation Tips
While preparing the Direct Taxation and Indirect Taxation papers of CA Final, it is important not to ignore the amendments and the aspirant should keep service tax as their priority and be thorough with it while studying indirect taxations.
Students can join a coaching centre of their choice or adapt to self-study modes depending on their confidence and convenience levels. Self-study mode serves as a confidence booster and also helps to save the time of the candidate. One golden rule to clear the exam in four months is to cover all the CA Final topics and study without carrying forward any doubts in any of the topics.
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The difficulty level of CA Intermediate exams is high. It is considered to be one of the toughest exams to crack due to the vast syllabus and multiple subjects. The pass percentage of CA Intermediate exam is low and candidates have to make multiple attempts to clear it. CA is a course, one can complete without coaching and guidance. Even though study material, test practices and other support is provided by the ICAI, it is not really possible to study by self. The topics and chapters are vast. They require guidance and practice as well as discipline and productive study hours.