Study Tips for CA Final May 20 Aspirants

Less than 50 Days are left for CA Final May 20 Examination. In this blog I will be giving some very useful tips to CA Final May 20 Aspirants that will surely help them in their preparation.

This blog is dedicated to CA Final Group 1 aspirants and will come up with a blog for Group 2 as well soon.

PAPER 1 FINANCIAL REPORTING

To score in CA Final FR just go for ICAI PM as well as SM Questions and whether you are revising subject one day before or doing the first revision following pattern should be followed

CATEGORY A TOPICS

a) Share-Based Payments

b) Valuation

c) EVA, Human Resource Reporting

d) Accounting for Financial Institution

These Topics cover at least 35-40 Marks and can be completed very easily and quickly

CATEGORY B TOPICS

e) Corporate Restructuring

f) Accounting Standards

g) Accounting for Financial Instruments

h) Comparison AS VS Ind AS

CATEGORY C TOPICS

i) Guidance Notes

j) CFS

(Even if you are facing issue in doing it still I would suggest just refer major adjustments so that you can at least start the question in exam) Friends lot of people face issues in consolidation so instead of spending a lot of time in CFS and in the end getting only 14-16 marks its better to revise other topics twice. But I would not suggest you to leave CFS entirely rather just go through basic adjustments and practice a few problems but even if you leave it there is no harm and you can still score easily 60-65 marks.

MANTRA TO SCORE IN FR: You need to do writing practice. Just looking at problems won't fetch you marks. Mark my words without writing practice you won't be able to solve in exam. So, solve few problems from each topic covering most of the adjustments / concepts.

PAPER 2 STRATEGIC FINANCIAL MANAGEMENT

CATEGORY A TOPICS

a) Dividend Policy

b) Forex Management

c) Portfolio

d) Merger and Acquisition

The above topics will easily take you to at least 50 Marks and if done properly you can get 35-45 marks which is a very good number I suppose.

CATEGORY B TOPICS

e) Capital Budgeting

f) Leasing

g) Security Analysis

h) Mutual Funds

CATEGORY C TOPICS

i) Derivatives

j) Financial Services

k) Theory

Friends many students find Derivatives difficult and some find Forex Difficult. I would suggest that you may make a compromise with Derivatives if running short of time but do Forex nicely. Also theory is a sure shot 16 mark Question but if you have done Category A and B Topics nicely, then you can compromise with it or do certain Topics and still you can easily score 60 Marks.

MANTRA TO SCORE IN SFM: Handwritten Practice of at least 1/3 problems of the problems in each topic and revision of Concepts from Summary notes.

PAPER 3 ADVANCE AUDITING AND PROFESSIONAL ETHICS

Friends there is a common belief that you need to study ICAI PM to score in Audit. 

CATEGORY A TOPICS

a) Professional Ethics

b) Company Audit

c) Audit Report SA 700 Series+ CARO

d) Audit of Banks+ GIC

e) Fiscal Laws

These Topics cover minimum 40-50 marks and can be completed easily and with perfection. So, Try to complete these early whether doing first time or last day of revision before exam.

CATEGORY B TOPICS

f) SA’s

g) Special Audit Assignments

h) Audit of CFS+ Corporate Governance

i) Peer Review+ Due Diligence

CATEGORY C TOPICS

j) NBFC

k) Cost Audit

l) CIS

m) Other Misc Topics

Friends if you are 100% done with Category A+B then you may go for selective study of remaining Topics as per your convenience and still you can score good in Audit and 50+ is considered good in audit and with MCQs in Audit you can easily achieve this target.

MANTRA TO SCORE IN AUDIT: Underline Key words in each answer while your first reading from Scanner and try to replicate in your answers. Try to write to the point as when we write extra, we make mistakes. Enroll for some good test series and appear for Tests and make sure to give ICAI Mock Tests.

PAPER 4 CORPORATE AND ALLIED LAWS

CATEGORY A TOPICS

a) Dividend, Account and Audit

b) Directors, Board Meeting and MR

c) IBC

d) SEBI

e) FEMA

These Topics cover at least 55-60 marks and though it takes a bit time in covering these but if done properly then there is no stopping.

CATEGORY B TOPICS

f) C&A

g) Prevention of Oppression and Mismanagement

h) NCLT+ Special Courts

i) Interpretation of Statues

j) Competition Act

CATEGORY C TOPICS

k) Winding Up

l) Producer Co

m) Other Misc Topics of CO Law

n) SCRA

o) Misc Topics of Allied Law

Friends again if you are done with Category A+B nicely then you may compromise with 1-2 Topics as mentioned in Category C and still you can score decent marks in Law.

This was a small write to explain you that there is no need to go for 100% syllabus rather study 80% Topics and be 100% sure in those topics. This was based on mine and some of my friend's personal experience and brought positive result for us. You may use this for your preparation.