Preparation Strategy For CA FINAL GROUP 1 May 24 [4 months]

Want to achieve good marks in CA Final? Well, then, this is the right platform for you.

CA Final exams are never easy. It is one of the toughest exams and students need to undertake a more strategic and structured approach in order to realize their dream of adding the prefix of "CA" to their names. The exams commences from the first week of May, which leaves us approximately 4 months to prepare for the exams. 

As you know, CA Final Group 1 includes three subjects:

  • Financial Reporting
  • Advanced Financial Management
  • Advanced Auditing & Professional Ethics

 In which the former two subjects (FR & AFM) are practical and latter (Audit) is theoretical.

Now, students usually opt for two different plans in order to prepare for the exams:

  • Live Classes 
  • Self Study (Video lectures in Pen Drive/Google Drive) 

Specific Points to Know for May 24 CA Final Exams:-

  • For the First time Multiple Choice Questions (MCQ's) are Applicable for all 3 Subjects - FR, AFM & Audit
    • Advantage: Full marks on the correct answer. Will be helpful in achieving the pass marks and aggregate.
    • Disadvantage (if you want to think one): Compulsory question with no choice. Will require in-depth study. 
  • Make sure to avail the video classes by best faculties. To know about the best faculties : Click Here

CA Final Important Links

Free Resources || Free Important Videos by Top Faculties

Assumptions :

We presume that you have taken coaching for at least 2 Subjects (Say, FR and AFM ) and you are planning to take coaching for the theory Subject (Audit).

Group 1 Preparation Strategy :

We would advise you to study 1 Theory paper and 1 Practical paper at a time. Furthermore, divide the period from Jan to April into 4 parts. The plan for each of the 4 phases are explained below:

Jan 24 - Feb 24 Plan:

It is always preferred to choose 2 Subjects together so that it keeps you going with your preparations and don't bore you with one subject. 30 days (mid-Jan to mid-Feb) is enough for 2 subjects to be thoroughly practiced or memorized by any student, provided you don't have any office commitments. Try to complete at least 60-70% of the subjects by Mid-Feb.

Our Suggestion : 

Start with FR and Audit - As on one hand, FR needs in depth study and practice, whereas on the other, audit is considered to be a relatively light subject but scoring. So, these two subjects require special attention from the students.

"For FR, It is strongly advisable to practice all the different types of sums in FR and note down the topics in which you are facing problems at a separate place for your future preparations."

"For Audit, it is advised to memorize and write down the headings for all the answers and give a special attention to Standards of Auditing as the paper has good questions from this part."

Feb 2024 Plan:

Now you can pick up the AFM Paper so that you can complete your full syllabus by the end of March. Follow the same procedure for these two subjects as well and try to complete 60-70% of the subjects by mid-March.

Our Suggestion : 

If you haven't taken coaching for audit and you are planning to take videos for the same, then Feb is the right time to buy the same. Now you must have taken coaching for AFM, so its the right time to brush up your knowledge by practicing sums. Target is to complete around 60-70% of the syllabus of both the subjects by Mid Feb.

March 2024 Plan:

In this period, you can easily complete the rest  30-40% of all subjects. Once, you have completed the full syllabus of all the subjects in a decent manner by the end of March, you will feel confident of scoring good marks in your Final examinations. In this period, students who had preferred self-study can also opt for Fast Track Videos by Top Faculties for different subject on the basis of your level of preparation.

Blog Link - CA Final Best Fast Track Courses

Video Lectures by Top Faculties: CA Final Latest Video Classes

Few Important Points for Self Study

  • Go through all the important points and make a note of them chapter wise
  • Refer to Practice Manual, Revision Test Papers, Past Year Papers and try to complete all the relevant questions mentioned there
  • In CA Finals, Time management is most important as students despite knowing the answers falls short of time to finish the papers. Hence it is advisable to practice questions in time bound format.
  • Solve mock papers. (You can have a look at this link to go through the mock papers and important resources) 
  • Understand the weightage of marks and plan your time devotion topic wise accordingly.
  • Most Importantly...Start Studying..!!

Practice Resources :

Mock Test Papers | Revision Test Papers

April 2024 Plan [Last Half Month before Exams]:-

  • Firstly, Practice your Critical Topics Which are Important for exams too. It is not advisable to leave any topic for exams as each topic carries a weightage of 10-14%, which can't be ignored.
  • A thorough revision of all the topics and preparation of notes for Exam Day Revision. Exam Day Revision is the most crucial part of CA Finals, as it is utmost important to revise or give a bird's eye view to almost all the topics one day before the exams.
It is advisable to prepare one page notes for each topic which is sufficient for you to refer one day before exams instead of referring bulky books on the exam day.

Now, just one day left for your examination make sure to just go through the important points and have a good sleep!

Important Points to note :

  • Always write and practice.
  • Learn Point Heading and write.
  • Try for Mock Exams by ICAI and different faculties.
  • Solve MCQ'S of FR,AFM and Audit [30 marks each]
  • Use Mnemonics Technique to Memorise Headings (Audit)
  • Make sure to make notes & mark all your doubts while watching the lectures.

Follow this schedule, then you might score exemption [60+] in Audit as this time, we have 30 Marks MCQ, giving students the potential to score full marks in the MCQs Portion and also good marks in FR & AFM - As MCQ has been Introduced in Practical papers for the first time.

You can find more information at 

Hope you can find this article helpful. If you did like this Blog then Share it with your friends who are doing CA Final studies or who will be giving their CA Final exams in the near future. 

All The Best!


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