Being a CA is just not about numbers, chartered accountants display exceptional thinking and a superior grasp of business that truly marks them as unique in the marketplace. So, surely the grilling process is no cake walk. Rupansh Gupta a qualified CA, MBA, CFA, MFA, DISA and BCom Honours, who has also obtained a gold medal for securing the highest marks in CA exams in 2011, and has an award winning book, The Sojourn, to his credit, gives us the key to cracking the exam code.
The final chartered accountancy CA results declared in November 2013 have dipped to 3.11 per cent, the lowest in the past five years. Some students feel that Institute of Chartered Accountants of India, the governing body has been controlling the results by not awarding marks easily. What’s your take?
I am no authority to comment on this but I feel that over-dependency on private tuitions and lack of practical learning is surely the cause. The maxim ‘no pain, no gain’, truly applies in this case. The students must keep in mind that there are some criteria set for awarding marks, and only if their answers satisfy them, will they get the expected result.
But there is no standard format on how to answer the questions. What must students then do?
Revision test papers are provided by the institute, which guides students on how exactly to attempt a question. The answers given by the students must be presented with reasoning. Do not answer practical questions with just a ‘Yes’ or ‘No’. Firstly, mention the necessary provisions applicable to the question and then come to the conclusion. Underline the relevant provisions.
Surely, CA is for a marathon runner. But the Common Proficiency Test is a multiple choice based exam and, as the syllabus is similar to that of BCom, it is being looked upon as something that can be tackled comfortably. What has been your strategy?
What’s important is to be thorough with the fundamentals, from the beginning — which most of us ignore. Don’t forget that the final aim is not just to clear CPT but CA final. Get into the habit of taking mock tests and, more importantly, working on your weaknesses before the examinations. Plan your work, as time management is essential. Don’t rely much on classroom coaching; start developing self study habits and the will to solve complex issues yourself.
How do you go about preparing for the CA Integrated Professional Competence Course and the CA Final exams?
They are subjective examinations and students need to have a stronger grip on the subjects to get the desired results in the IPCC and CA final. It is important to look for professional guidance. Knowing your mistakes you may be prone to and understanding your weak areas is important. Accordingly, students should try their best to get themselves evaluated by appearing for mock tests. Everyone knows reading is important. Very few realise, however, that it is beneficial to also practice writing these tests. Be updated and keep track of amendments being made in the courses on a regular basis.
How to secure ranks?
To get a rank, one must appear in both groups at the same time and score a minimum of 55 per cent in both. Only the first 50 ranks are declared by the institute at a time. Therefore, do not judge your performance or blame others if you don’t make it to the rank list. Every student tries to put his/her best foot forward, but only some succeed in getting ranks. It’s a mental game. A few tips: don’t be impatient, as you will need a lot of experience and understanding and the knowledge that comes with it, in the professional front. So, welcome the result, introspect and then make a plan of action accordingly. Work toward improvements by practicing mock tests, whether it is for CA CPT, CA IPCC or CA Final, and use the faculty feedback on how to improve your answering pattern.
— pallavichetan@gmail.com