Preparation Strategy for CA Final Financial Reporting

Want to attain good marks in CA Final? Then this is the right platform for you.

Sailing through exams for professional courses has never been easy. It is more of a smart work rather than hard work. It is very important for a Chartered Accountant to have a deep understanding of practical subjects like FR, SFM, Tax, etc as they are more practically used in the professional world.

First of all, you should acquaint yourself with the syllabus of Financial Reporting so that you can plan your studies accordingly. The study material of ‘Financial Reporting is divided into ten chapters/topics based on the syllabus.

"CA Final FR Important Resources by ICAI - Study Material || Suggested Q & A"

Important Topics for CA Final Financial Reporting

  • Make sure you don’t leave consolidation and business combination which have a huge weightage. (25–35 marks)
  • Focus on smaller chapters such as HR accounting, E-commerce accounting, Carbon Credits and value-added statements as they yield good marks.
  • Completing IND AS 109 Financial Instruments and Share-Based Payments will fetch you an average of 20 marks as it is being consistently asked in exams. (15–25 marks)
  • If you do the above topics really well you can easily score 40–50 marks.
  • Then, move your focus to topics that have corresponding AS too. Complete both AS and corresponding IND AS.
  • Complete the chapter - Analysis of financial statements, think from a practical point of view and you will have ease with this.
  • You shouldn't play the gamble of leaving chapters as the institute is best at tricking.

 

"CA Final FR Section-wise Weightage - Click Here"

How to study CA Final Financial Reporting

I - Understanding Topics & Concepts:

  • Prepare notes for everything, mark important sums, while studying in Classes. Try to make sure you understand all concepts, it is okay if you don't remember everything.
  • Just make sure that you study regularly. Keep your notes complete at all times.

 

II - Understanding the Pattern of exam papers:

  • When you are done with classes/self-study, check out all the latest papers i.e. last three years or last 6 attempts, and understand the structure of exam papers see how exam papers are like!
  • This will give you exam insights and when you will study, you will know how to prepare and what type of questions you will have to form to test yourself while studying for exams.

 

 "CA Final Financial Reporting Video Lectures by Top Faculties in Pen Drive - Click Here"

 

III - Preparing for Exams i.e. First Revision:

  • Solve everything that you have learned to date, keeping in mind the sort of questions that are asked in exams. The objective is to prepare for exams, on the basis of exam papers that you have seen

 

IV - Self Check Revision i.e. Second Revision:

  • This revision should be real quick, like every day you should do one chapter each of four different subjects per day.
  • No need to solving, just keep reading & trying to answer. One or two questions you may right roughly.
  • Try to read questions and answer them orally.

 

V- Exam Before Exam i.e. Paper-solving:

  • This is just exactly one month before the exams. So what you have to do is create exactly what the situation will be one month later. The objective is to get acquainted with exam situations and realize your level of preparation.

 

VI - One Day Match i.e. Third Revision:

  • The third Revision is for rectifying mistakes that you noticed while solving paper.
  • You will know your mistakes, so you will merely revise all subjects i.e. 1 subject per day and also rectify mistakes, find solutions for your problems, make a strategy of which chapter questions you will solve first, etc.
  • You can also try revising the whole portion in 75% of the day and then use 25% of the day for Paper Solving.
  • This time you don't solve for all 3 hours, but just solved reduced paper or just see the paper, built strategy, and solve a few sums in limited 1-2 hours.

"CA Final FR Important Resources by Top Faculties - Videos & PDFs"

Presentation

The presentation of practical questions are very important. There is a need to properly draw the formats (tables) and don’t forget to prepare the working notes. Working notes are also an important part so show all the working notes properly at the end of the solution.

There are some questions which are based on formulas, so it is good to write formula firstly and then show the calculations and give assumption clearly.

"CA Final FR Important IND AS by Top Faculties - Videos & PDFs"

Few Important Tips for Self Study

  • Go through all the important points and make a note of the chapter wise
  • Refer to Revision Test Papers, Past Year Papers and try to complete all the relevant questions mentioned there

"CA Final FR Resources by ICAI - RTPs || MTPs "

  • In CA Finals, time management is most important as students despite knowing the answers fall 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..!!.

 

"CA Final Financial Reporting Amendments by Top Faculties - Videos || PDFs"

Moreover, You can get in touch with our expert, Miss Abhilasha Sharma, or Mr. Abhishek Bajaj (Mobile – 9051753757) exclusively associated with Zeroinfy.in 

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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2 comments

  • Latika sudh

    You can take classes from any genuine website who’s authorized to sell CA Faculty classes from his website. There are so many YouTube channel where some preparation lectures also uploaded free of cost, you can revise your syllabus in very short time.

    Example: if you want to revise your CA Final SFM then you can watch CA Aaditya Jain Marathon / Revision lecture from his youtube Channel.

    https://www.youtube.com/watch?v=iorjlLknCRI&list=PLEYzFdrUFbtmWrKuu_5ncasQHAZroaFip

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