How much time should I give for CA preparation??

Dear Aspirant,

Chartered accountancy is career which requires a lot of hard work and determination to pursue. This is a really good option for commerce students but it is not easy. This is not to scare you off, but just to inform you that you need to be ready for a lot of hard work as you will have to carry an endless amount of dedication for the same. The syllabus is vast but most importantly, the person needs to be headstrong and must not lose hope.

There are four steps to becoming a CA in India:

1. CA Foundation Exam
2. CA Intermediate Exam
3. Articleship Training
4. CA Final Exam

Let's see what each of these exams consist and how to prepare for them.

CA Foundation

This exam takes place in November, so say you are taking the exam just after your 12th and the results are announced in June, you have a period of 5 months to prepare for this exam. This the entry-level test and the first step towards becoming a Chartered Accountant. The course and syllabus is the same as +2 level commerce.

The exam is divided into 4 paper:

1. Principles and Practices of Accounting
2. Mercantile Law and General English
3. Business Mathematics, Logical Reasoning, and Statistics
4. Business Economics & Business and Commercial Knowledge

The first two papers are subjective in nature and the other two are objective in nature. The first two papers are scoring but the concepts should be clear. The presentation is an important factor. For the third paper, Maths becomes a little important so practice shirt tricks on calculator. The last subject is scoring for you if you have taken economics as your subject in 12th. Start practicing the modules given by ICAI and also set a time because speed is one of the key factors in clearing CA Exams.

CA Intermediate

After clearing the foundation exam, this will be your next step. If you are a graduate or a postgraduate, you can apply for CA Intermediate through Direct entry scheme at this level. This is a challenging level as the syllabus is pretty huge. Mostly, this is the level where the students generally are not able get attempts. For this level coaching become necessary. This happens 9 months after the declaration of CA Foundation results. So take some guidance and at the end, rely on self-practice. Practice is very important, practice mock test papers and do not neglect ICAI modules.

Articleship Training

You must have undergone ITT or OT program before starting your articleship once you have cleared your intermediate. This is a tough period of 3 years where you have to constantly work, work and work. Choose the firms wisely after weighing their pros and cons.

CA Final

After you have cleared both the groups of CA Intermediate, you can register for CA Final. You have to become an expert on each subject to clear this level. You wouldn't be able to crack the exam without a proper knowledge of the each subject. Revision at this stage becomes really important.

If you clear this exam, you are a Chartered Accountant. You get minimum of four months after your 12th once you apply for the foundation exam. The more preparation you do, the less it is. CA is one of the toughest exams and therefore it requires dedicated study and clarity of concepts. Do what works best for you. Take optimal breaks. Divide time as per your mind's capability to retain information and keep enough time fore revision. Go through the syllabus and portions carefully while designing your time table. The more hard work and time you put in, the better it would be for you.

Hope this helps. All the best!