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How I cleared my CA - A must read for students who are struggling to clear professional exams

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How I cleared my CA - A must read for students who are struggling to clear professional exams

 

A million student, with a dream of becoming CA get up every day in the morning and work towards it. Everyone has same goal, to become Chartered Accountant, everyone has same destination, however the journey towards it sometime is same, while most of time it is differs than ones thoughts. Those few who took different unique paths and had a vision of becoming someone in life are the ones who get cleared and become Chartered Accountants. The word CA is just more than a prefix. It brings along in itself the values of determination and dedication. Today I am sharing my story with you all on how I cleared my CA exams facing challenges and overcoming them with short learnings which you can apply in your professional journey.

 

A below average student

During school days, I was a below average student scoring hardly 50% marks in all exams. It was in SSC that I scored more than 60% (to be precise 65%) which made my family members proud of me to such a great extent that my father got form of an engineering college and wanted me to pursue engineering degree.

 

My father was an investor and trader in stock market by watching CNBC and reading economic times. So since childhood I had love for number and accompanied my father while watching CNBC. I also read economic times almost daily and annual reports of companies which we use to get physical copies at that time. This helped in developing interest in accounts, to understand balance sheet and profit and loss, much before I knew from formal education system.

 

The moment it came to my knowledge that, my father wanted me to pursue engineering I was confused since I had no interest in engineering. What to do and how to communicate about my area of interest was a question. By then my father had already got the forms for engineering college. It was then I communicated to him that I like numbers in accounting and stock and I want to pursue commerce and not engineering. At first instance he was disappointed, then he agreed. Later he told if you are looking for commerce go for highest degree in it, may be CA. It sounded good to hear, but when I compared myself with other students I was feeling I have a very poor score and there was too much competition from rank holders and scholars. However, I thought if I love what I am studying, then I will be able to manage it despite being average in marks. This self-motivation became a turning point of my career and life.

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Learning: Never chose CA just because someone else (parents, friends, peer pressure) want you to do that. Unless you yourself are willing, like in movie Super 30, though parents background was not supportive but student were 100% sure, that they want to go for studies. Even if you are below average nothing is impossible. After all the word impossible also means “I M POSSIBLE”.

 

Relationship status during journey towards CA

College life is starting of teenage where you want to explore new phases of life and also get attracted to date someone. Being in a first relationship is feeling on Cloud Nine. For many students it consumes lot of time. I will give you my example. Despite studying very hard and going to classes regularly I failed in my CA inter Exams. For the first time in my life I had encountered failure. However when I failed it really hit me hard and then I analysed the time I allocate to studies and time I allocated to my friends and relationship. To my surprise I use to allocate almost 4 hours a day to relationship, be it on call, or meeting or else. For some reason we had a break up and the very next attempt I was able to clear my intern. Seeing this even one of my other friend who failed in intern, got serious in studies by breaking up. The very next attempt he passed. PS I am not encouraging to break up the relationship.

 

Learning: if you guys have watched movie chhichhore, in that to win the match in college they left the best thing they had, the hero promised to stop communicating with his girl till the match was over. Automatically the time saved was invested to focus in game. Same thing we can apply to studies also. Be Focus and give your 100% to it without any disturbance, most of time we fail to notice where our time is spend.

Request all parents and students to watch two movies, Super 30 and Chhichhore so they can decide are they on right journey of pursuing CA?

 

Coaching class’s myth

After clearing intern CA, I joined articleship and faced one of biggest challenge in my life. I was one of the victim in Mumbai train blast which made me paralysed. I was not able to perform basic task at home, as I was depended on someone 24/7and also require wheelchair to move out of home. Despite that I wanted to complete CA final. Till all exams I always had join classes, however due to me using wheelchair, it was not practical at that time to attend any classes as most of them were not accessible.

 

I started self study by reading institute modules and notes of different classes, while practical subject I tried to solve by myself, however I always end up with wrong answer. This went on and on. However when I gave exam I cleared in one attempt. I realise later that when you do self study, your attention, grasping and dedication is 200% more than when you have coaching. Further, in practical subject you start solving problems by yourself which at the beginning to crack is almost impossible, but slowly your brain start working with full capacity and by the time exams days are near you are ready.

 

Learning: Coaching is required only for week subjects, that too not always. Most of us will do better with self -studies and get better marks without coaching.

 

Going beyond books - Practical Knowledge

Articleship is very important to complete along with your studies. The Students who have done articleship has higher chance to clear the exam at first attempt as much of the practical knowledge in audit, tax and accounting is learned during articleship days which is helpful in answering practical questions in exams.

 

Learning : Never do dummy articleship, it may save some time but it won’t help you clear exams nor will it help you in your work life. “Experience and Practical training gives you an additional edge and makes a difference”

 

Practical Subject and Theory Subject

Many students feel that Information Technology and Audit are theory subject, however in reality they are Practical subject. Unless you learn in articleship use of technology and apply for audit, it won’t help you get good marks in exams. You need to experience audit to understand it better, so that it reflects in your answersheet in exams. Also subject like Taxation and Accounts, one can easily score 90% plus.

 

What should be your focus point- strong subject or week subject?

I would say both. Make your stronger subject more stronger to get more than 80% score. Work on weaker subject bit extra so you can score 60% or more. Always keep high targets and work accordingly. If you keep target of just 50% you will landup getting 35% only. However, if you keep target of 80% plus in strong subject and 60% plus in weaker subjects, in worst case you will get 50%.

 

Failure is not an end it's a new beginning

The journey do not stop even after clearing CA, there is new beginning and sets of challenges. So in case of failure too never get disappointed.

If 100 students join CA, only 50% clear first level, out of that 50% only 20% clear second level and out of that 20% only 10% clears Final CA. So the effective ratio is just 2%

 

Students

Passing percentage

Effective Passing from over all %

100 Fresh Student

CPT 50%

50 passed

100 CPT Pass Student

IPCC 20%

20 passed

100 IPCC Pass Student

CA final 10%

2 passed

 

Learning: Never ever take failure personally. Always put best efforts and despite that if you fail, then remember destiny has something else in its mind. “ Gods plans are always better than ours”

The above studying pattern can be applied to any professional exams like CS, LLB, CFA, IPS, etc

In case any student have any doubt or questions they are free to write me at chirag@cachauhan.in




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