How to prepare for CA Foundation without coaching?
How to prepare for the CA Foundation without coaching?
Clearing the CA foundation exam without coaching is not a mammoth task. Many have done it before and are doing it also. I myself had cleared CA foundation exams by self-study. Before starting preparation for any type of CA exams you need to learn one quality and that is “Allocation of time”. You need to learn how to allocate time as per the size of topics just a day before the exam or while completing the syllabus.
The first step
The first step to becoming a Chartered Accountant is to clear CA Foundation exams. Believe me, clearing CA Foundation is easy if you prepare a plan and stick to that plan. Planning is important as without a plan you will just be a nomad wandering everywhere.
CA foundation study plan/Study time table for CA foundation
How to allocate two months’ time in 4 subjects.
Step 1: Make combinations of the subjects in the CA foundation exam. The combination should be of one theoretical subject and one practical subject. For example You can take (Accounts + Mercantile Law) and (Mathematics + Economics). You can change the combination as per your own desire. The viable option would be to take a new subject first like mercantile law.
Step2: Allocation of time on both combinations. See if you want to clear the CA foundation exam in two months. You need to give at least 20 days to both combinations. The remaining 20 days would be for revision.
Step 3: Give at least 6 hours to a practical subject and 3 hours to a theoretical subject daily. Prepare your notes which will help you on revision days.
Step 4: In the last 20 days, revise as much as you can. The more you revise and build a stronghold on important topics, the more are your chances of passing the exam.
Tips and Tricks to clear CA Foundation exam without coaching. Is ICAI study material enough?
I have made a list of all the tricks used to clear the CA foundation exam.
- Study Material: The first preference should always be given to the study material provided by the ICAI. CA Foundation exam questions always come from the study material provided by the ICAI.
- Reference books: Reference books are of great help as the institute material is difficult to grab for the first time. The reference books and study material should be used together to prepare handwritten notes.
- Presentation: Presentations plays a vital role in CA exams. Your presentation of answers determines your value as there will be no name written on the answer sheet. Make charts, underline the keywords, always attempt the question you know 100% first, and don’t start the next question on the same page only.
Subject wise CA foundation tricks and tips
Principal and Practises of Accounting
- The subject is most scoring as the syllabus is quite similar to Class 11th and 12th standard. Commerce students should possess a strong hand on this subject as compared to science students.
- Accounts subject will help you to exceed the aggregate total of your marks to clear the CA foundation without coaching.
- Even when you will proceed on the next levels of the Chartered Accountancy course, Accounts will help you sail over 200 marks
Business Laws and Business Correspondence and Reporting
- This is a new subject for Class 12th subjects. Students must use a reference book for this subject?
- Why reference book? Because if you will read the institute material for the first time for law subject. You will get disheartened that you are not able to understand any topic.
- A reference book will make you understand the concepts easily and no sooner you will be thinking that this subject related to real-life only.
- Keywords will matter a lot on this subject.
Business Mathematics and Logical Reasoning & Statistics
- Practice, Practice, Practice. The more you practice this subject and try a variety of questions. The more marks you score. Simple formula!
- Institute study material should not be missed at any cost in this subject.
Business Economics and Business and Commercial Knowledge
- Most of the topics in this subject related to Class 11th and Class 12th but few of them are new and are difficult to understand. For those topics, don’t hesitate to brush up on your basics from Class12th and watch YouTube videos.
- Bonus Tip: Develop a reading habit for this subject, the more you read, the more insights you will get about this subject.
Akash Arora is a Chartered Accountant by profession. He has over 6+ years of experience w.r.t Goods and Service Tax (GST) compliances, litigations and managing routine GST issues.
Connect with him at +918588918033 and [email protected]
