STRATEGY FOR CA FOUNDATION EXAM PREPARATION

30.03.19 08:46 PM Comment(s) By ArivuPro

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“A vision without a strategy is an illusion”. On this note, you need to understand the importance of having a clear-cut strategy especially for challenging exams like CA foundation. Cracking CA Foundation comes with a few simple pre-requisites like:

  • Preparing well and thoroughly understanding the concepts.

  • Studying consistently and sticking to the time-table.

  • Preparing revision notes.

  • Repeated revisions.

  • Focusing on presentation skills and more. 

This article gives you a detailed approach/strategy for your exam preparation. So, if you are clueless about where to start and how to start, you have come to the right place.

  1. Principles and Practices of Accounting (100 marks)

  • The first and foremost rule for Accountancy is to not mug up, but to understand the various concepts and topics.  This is important to make the base strong which will further help in solving various difficulty level questions.

  • Maintain a study journal to note down:

      • Important concepts

      • Important questions

      • Easy to access notes

      • Important formulas

  • Practice is the key to success in this case of this subject. You need to keep practising questions, even repeatedly, to improve your analytical and conceptual knowledge.

  • Put extra focus on the following key chapters (this is an inclusive list):

      • Ratios

      • Partnership Accounts

      • Company Accounts

      • Accounting Process

  

  1. Business Laws and Business Correspondence and Reporting (100 marks)

  • Business Laws (60 marks)

  • Law comes with the risk of boredom since it’s pure theory. This is the outlook and experience of many students. But law can only get interesting and easy to study if you concentrate on the whys rather than on the whats. Behind every drafted law, there is logic. Try to understand why the provision exists. This helps to increase analytical skills and to build a strong base. 

  • The institute’s study material is well drafted with a lot of examples. Hence, it is the most sought for material despite its difficult language. The key to cracking law is to read, read and read. 

  • You should also prepare summary notes which can be used for later revision. Presentation of content has a great impact on your retention power and hence, usage of charts will also help to a great extent.

     

  • Business Correspondence and Reporting (40 marks)

     

  • Business Correspondence and Reporting mainly concentrates on English as a proficiency subject.

  • Reading the study material and getting your +2 basics right is the recommended strategy to approach this subject.

     

  1. Business Mathematics and Logical Reasoning and Statistics (100 marks)

  • Practice makes it perfect should be your motto towards approaching this paper. Mastering each question should be your motive. Mathematics, Statistics are more technical whereas Logical Reasoning is more analytical. 

  • Maintain a study journal to note down:

      • Important concepts

      • Important questions

      • Easy to access notes

      • Important formulas

  • The questions from institute’s material should be done thoroughly. This gives an understanding of the institute’s difficulty level.

  • Good and difficult questions should be repeatedly practiced as it helps in time management as well as concept clarity. 

  • You should focus on doing the maximum number of questions rather than on reading theory since it’s an objective paper.

  • The following is the mark break up for each section:

      • Mathematics: 40 marks

      • Logical Reasoning: 20 marks

      • Statistics: 40 marks

  • Focus on the chapter “time value of money” as it has due importance in future academics.

     

  1. Business Economics and Business and Commercial Knowledge (100 marks)

  • Business Economics (60 marks)

    • Business economics is easy to understand and deal with, especially it being an objective paper. 

    • You must keep practising questions every day to get familiarity. 

    • Questions and concepts can be referred from the institute study material.

    • Note making will help to a great extent to build a strong concept base.

     

  • Business and Commercial Knowledge (40 marks)

    • As this is a purely theory-based subject, you can keep it for the last because it is very generic in nature.

    • The institute’s study material is recommended for learning and practice.

    • Clarity of every concept is more important than mugging up the theory. Clarity can be improved by giving due diligence to the examples given in the study material. 

    • The subject mainly revolves around general knowledge with respect to businesses.

General Instructions

  • Make your revisions easier by organising your content in the way comfortable for you. You can use bullet points, post-its, highlighters etc to make important concepts stand out.

  • Solve all the questions provided in the study material of the institute and important questions suggested by your coaching institute.

  • DO RTPs, MTPs and QUESTION PAPERs without fail. Keep doing it repeatedly as a few questions come directly from here. This is one of the most important tips you should implement well. 

     

To pass the entrance test of this tedious course you must be fully dedicated towards your studies. Wherever you are and whatever the reason may be, don’t let your efforts came down.

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