Preparation Strategy For CA FINAL GROUP 1 May 23 [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 four subjects:
- Financial Reporting
- Strategic Financial Management
- Corporate & Economic Law (New) / Corporate & Allied Laws(Old)
- Advanced Auditing & Professional Ethics
In which the former two subjects (FR & SFM) are practical and latter (Law & Audit) are 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 23 CA Final Exams:-
- Multiple Choice Questions (MCQ's) are Applicable for 2 Subjects - Law & Audit (Both Old & New Syllabus)
- 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.
- Old Syllabus Students have a slight advantage in this regard, in the sense that, only two more terms are left for students who have registered under Old Syllabus. Moreover, the pass percentage for Old Syllabus is relatively higher than that under New Syllabus.
- Make sure to avail the video classes by best faculties. To know about the best faculties : Click Here
CA Final Important Links
Mock Test Papers || Free Resources ||
We presume that you have taken coaching for at least 2 Subjects (Say, SFM and Audit) and you are planning to take coaching for 2 Subject (FR and Law).
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 June to July into 4 parts. The plan for each of the 4 phases are explained below:
Dec 22 - Jan 23 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-Dec to mid-Jan) 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-July
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."
Free Resources:Financial Reporting (New) : PDFs & Videos
Auditing (New) : PDFs & Videos
Feb 2023 Plan:
Now you can pick up the other 2 Subjects (SFM & Law) together so that you can complete your full syllabus by the end of July. Follow the same procedure for these two subjects as well and try to complete 60-70% of the subjects by mid-Feb.
Our Suggestion :
If you haven't taken coaching for law 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 SFM, 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.
Law Video Lectures : Abhishek Bansal | Amit Bachhawat | Aseem Trivedi
Feb - Mar 2023 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: Parveen Jindal | Mayank Kothari | Aarti Lahoti |
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 | Skill Wise Weightage
April 2023 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.
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 By Law and Audit [30 marks each]
- Use Mnemonics Technique to Memorise Headings (Law & Audit)
- Make sure to make notes & mark all your doubts while watching the lectures.
Follow this schedule, then you might score exemption [60+] in Law & Audit as this time, we have 30 Marks MCQ, giving students the potential to score full marks in the MCQs Portion.
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All The Best!
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