How to be a smart CA?

Faisal Ahmed

The Chartered Accountancy (CA) qualification is one of the most prestigious in our country. The Institute of Chartered Accountants of India (ICAI) is the governing body that conducts the CA exams. Students who clear the final exam, held by the institute, are then absorbed by the industry as qualified chartered accountants (CA).

To pursue CA, one has to clear three exams namely CPT (entrance exam), IPCC (Intermediate exam) and the final CA exam.

Students who want to opt for CA can give the CPT exam after completing Class XII. Subsequent to clearing the CPT exam, students can appear for IPCC exam after nine months of preparation. The IPCC exam has subjective questions based on law, audit, tax, etc as compared to the objective questions in the CPT exam.

After clearing the IPCC exam, a student has to serve as an intern under a practicing CA for a period of three years before being eligible to appear for the final exam.

Passing the exam is not as difficult as it sounds.

Here are tricks that will help u clear the CPT and IPCC exams: 

  • How to Study: Regular and quality studies are a must. Most of the times it doesn’t matter how much you study, what matters is how much you can grasp while studying. It is important that you follow a systematic study routine.
  • Study Material: It is imperative that you have good study resources. Tuitions and professional help add to your knowledge, but self-study is of utmost importance in this course. A lot of practice is needed to do well in the exam.
  • Giving equal importance to all subjects: Students usually neglect subject/s they dislike and devote more time to subjects they find interesting. It is important to concentrate on all subjects.
  • Making Notes: Making notes, and having pointers for each chapter/ answer helps a student immensely, since it is practically impossible to go through the entire portion one day before the exam.
  • Mock exams: A student is advised to practice mock tests at home as well as under a professional’s guidance. Mock exams help students manage exam pressure and time while writing the exam.

Chartered accountancy is a professional degree course which offers huge scope for the aspirants. After becoming a CA, a person can choose to either be employed with a firm as an employee or they can choose to open their own private practice.

Before discussing the scope of chartered accountant career, let us look into the various reasons for why CA is a good career option –

This professional degree course gives you flexibility to go for higher education like MBA, CFA etc.

There is no constraint on study hours – that is, you do not have to go to college to study and you can control the pace of your study.

Articleship is a mandatory part of the curriculum, and as such, it gives you practical experience while preparing for exams. So technically you’re well equipped with practical knowledge once you pass out. An aspirant can choose the organization they want to work with.

Most of the CA’s end up being entrepreneurs. They are their own boss. CA’s can choose to become tax advisers and consultants also.

Maintaining continuity in career is easier for a Chartered Accountant, as they can afford to take breaks and sabbaticals and make a comeback after little brushing up of knowledge.

Author

Faisal Ahmed

(Samvit Academy)

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