How to Secure Good Marks in the CA Foundation Exam?
Scoring a good rank in the CA Foundation requires loads of consistent effort. It also involves smart planning coupled with hard work. While CA Foundation classes will give you the necessary impetus in your preparation, there are some aspects you need to focus on specifically. After all, it is your first step and the pathway to becoming a Chartered Accountant. Here’s what will garner you a good score in this competitive exam.
Know and cover the whole curriculum
To start with, the complete CA Foundation course consists of four subjects:
- Principles and Practices of Accounting
- Business Laws and Business Correspondence and Reporting
- Business Mathematics and Logical Reasoning and Statistics
- Business Economics and Business and Commercial Knowledge
Know and understand the entire syllabus. Commerce students will find it slightly easy. Having said that, you must also be sure to cover the entire curriculum. It is pointless to miss even 25% of it. This, in all probability, is worth 80% of the exam’s weight. Hence, ensure that you cover the entire syllabus while preparing for the test.
Also read: FAQs on CA Foundation Course Syllabus
Create a strategic study plan
Make judicious use of your time while preparing for this exam. Remember, the CA Foundation course may not be easy, but a strategic study plan will take you far. While making this schedule, divide your time between two subjects per day. This way, you will cover two subjects and will avoid the monotony of studying only one. You can study one practical and one theory to keep it interesting.
Focus on your presentation
Work on your presentation skills. Also, do keep in mind that two papers, ‘Principles and Practices of Accounting’ and ‘Business Laws and Business Correspondence and Reporting’, are subjective. Hence, be imaginative and innovative with the way you present your answers, especially in these two papers.
Refer to only one tutor’s notes
The ICAI material is considered the best to study from. However, most students tend to be uncomfortable with it. But we suggest you refer to notes by one tutor only. Strictly avoid referring too many other books for one subject. This often leads to confusion and will impact your scores as well. Therefore, stick to one reference point only and cover every topic without skipping any.
Master the use of the calculator
As you are already aware, you will be using the good old calculator a lot during your CA course. And, its use is permitted during the exam as the papers are lengthy. The ICAI does not expect you to do calculations by hand as it’s a laborious task. Hence, learn to master the use of the calculator, as it will save you precious minutes. Know the use of all the buttons and how to use them correctly.
Take mocks and solve test papers
Mock tests and sample test papers must be a part of your preparation journey. Get hold of the CA Foundation’s previous years’ question papers as well. Mock tests and sample papers give you a feel of the real exam. Also, when you solve past years’ papers, you understand the type of questions that are asked and how they are asked. Besides, these boost your overall confidence.
While the above tips are sure to garner you a high score, we would also like to give you a subject-wise break-up for the same:
Firstly, understand the paper, i.e., what will be asked from which segment, and then focus on that.
Principles and Practices of Accounting – This paper includes a theory section, which is completely ignored by almost every student. It consists of 20 marks, and for sure you will get questions on these. You can check the past years’ papers of 5-6 years. This is one segment. Where you can acquire full marks, and hence, it is important to focus on this.
Business Laws and Business Correspondence and Reporting – Sales of Goods Act, Partnership, and LLP Acts consist of 30 marks. Look up past years’ papers of 5-6 years, and you will find that there will be questions of at least 30 marks from these three Acts. You can easily acquire 25 marks in this. Therefore, focussing on this will make it easy for you.
Business Mathematics and Logical Reasoning and Statistics – In this paper, Maths comprises 20 marks, Logical Reasoning consists of 20 marks, and Statistics, 25 marks. Thus, this takes the total to 65 marks. If you only focus on the ICAI questions for this paper, it will ease your preparation. Do not leave any questions from here. Besides, you can focus on tests and sample papers as well.
Business Economics and Business and Commercial Knowledge – Focus on the ICAI questions for this paper and take sample tests as well. This should help you in scoring good marks in this paper.
Along with the above pointers, we will stress on revision, which is paramount to scoring good marks. Be tactful and sincere in your efforts and know the areas to focus on. This will make a difference in you securing a high rank.
Also read: Benefits of CA Foundation Online Classes