Preparation Strategy For CA FINAL GROUP 2 May 2023 [4 month]

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

Some Students might have cleared CA Final Group 1 and waiting for their Group 2 exams to Prefix the tag "CA" to their Name. There may also be some students who want to appear for Group 2 only. We have consulted the best faculties across the country as well as various AIR rank holders to compose a Preparation Strategy for CA Final Group 2 May 23 Exams. CA Final is one of the toughest examinations and students will need to adopt a "Prepare for the worst and Hope for the best" to overcome it. Usually, the examination commences from the first week of Nov, which leaves us approximately 4 months to study and secure good marks:

As you know CA Final Group 2 includes 4 subjects:

• Strategic Cost Management & Performance Evaluation/Advanced Management Accounting (SCMPE / AMA)
• Direct Tax & International Taxation [Same for Old/New]
• Indirect Tax Laws [Same for Old/New]
• Electives (6 Paper Options)

Out of the above subjects :

New Syllabus : 
All 3 Compulsory papers are Practical & Electives contain both practical & Theory Papers.
However, the pattern of SCMPE (Costing) paper has completely changed and application based theory question is asked which covers many topics in one question. So Students need to change their way of preparing for Costing paper.

Specific Points to Know for May 2023 CA Final Exams:-

• Multiple Choice Questions (MCQ's) are Applicable for 2 Subjects - Direct Tax & Indirect tax (New Syllabus) and for 3 Subjects (Old Syllabus) -Direct Tax, Indirect Tax & ISCA

• 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. 

Important Link : 

 Mock Test Papers | Free Resources

Assumptions :

We presume that you have taken coaching for at least 2 Subjects (Say, Direct Tax and Costing) and you are planning to take coaching for 1 Subject (Indirect Tax)  and self study for 1 (ISCA/Self Study).

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:

Dec - Jan 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-Jan

Our Suggestion : 
Start with Costing & Direct Taxes - As both the subjects are easy but bulky subjects which include lots of concepts and mainly requires major practicing.

"It is strongly advisable to write down all the Important Techniques + Formulas + Concepts Topics at a separate place for your future preparations." 

Free Resources :

Jan - Feb 2023 Plan:

Now you can pick up the other 2 Subjects (IDT & Elective) together so that you can complete your full syllabus by the end of Feb 23. For IDT, by mid of Feb, you will be getting all the amendments relevant for May 2023 and if you want to buy videos then latest videos by top faculties will also be available which can assist you in completing the course efficiently.

IDT Video Lectures by Top Faculties : Click Here

In this period also, try to complete 60-70% of these 2 subjects as well. 

Free Resources :

Indirect Tax Laws (Old/New) : PDFs | Videos

Elective Papers :
Introduction to Elective Papers: Click Here 
Paper 1 - Risk Management : PDFs | Videos 
Paper 2 - International Taxation : PDFs | Videos 
Paper 3 - Economic Laws : PDFs | Videos 
Paper 4 - Financial Services And Capital Markets : PDFs | Videos 
Paper 5 - Global Financial Reporting Standards : PDFs | Videos
Paper 6 - Multidisciplinary Case Study : PDFs | Videos

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 Feb, you will feel confident of scoring good marks in your Final examinations. In this period, you 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

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..!!

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 DT and IDT [30marks each]
• Use Mnemonics Technique to Memorise Headings (Mainly for ISCA & Electives)
• Make sure to make notes & mark all your doubts while watching the lectures.

Follow this schedule, then you might score exemption [60+] in Direct Tax, ISCA and Indirect Tax as this time, we have 30 Marks MCQ, giving students the potential to score full marks in the MCQs Portion.