How to Prepare for CA Exam in 3 Months?
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Students planning to take CA exam must not wait for the last three months as this course is considered one of the toughest professional course. But, to prepare for CA Foundation, Intermediate or Final exam in 3 months, it is important to have the right study material, good preparation strategy and strong determination. Check this page to get preparation tips for CA exam.
How to Prepare for CA in 3 Months?
How to Prepare for CA in 3 months? - To clear Chartered Accountancy course at any of the three levels, a candidate has to appear for all papers and secure passing marks in the examination. The levels of CA course are - CA Foundation, CA Intermediate and CA Final. There are 4 papers in CA Foundation exam and 6 papers each in CA Intermediate and CA Final exam, divided into two groups. To secure a rank in CA exam, candidates have to score at least 40% in each paper.
Though it is not advisable to leave CA exam preparation until last three months, if a student wants to give it a try, he/she can check this page to get preparation tips for CA exam.
- Can I Prepare for CA in 3 Months?
- 3 Month Preparation Plan for CA Exam (Foundation, Inter & Final)
- Things to Keep in Mind While Preparing for CA
- CA Foundation Syllabus
- CA Intermediate Syllabus
- ICAI CA Final Syllabus
- CA Preparation Books
Can I Prepare for CA in 3 Months?
Given the fact that students usually take more than one attempt to clear CA Foundation, Inter and Final exams, it seems difficult to prepare for Chartered Accountancy exam in 3 months. Although it is not possible, as some of the Chartered Accountants have shared their success story on how they studied for only three months and cracked the exam. The possibility of clearing CA exam depends on the difficulty level of each course level.
As CA Foundation is the first level of CA course, it is considered the easiest of three levels and clearing this level is possible if a candidate studies for 6-8 hours daily with proper focus and determination. Preparing for and clearing CA Intermediate exam for single group is challenging, though possible with 12-15 hours daily study. Lastly, CA final is the toughest exam of all three levels. Experts and guides usually suggest students to keep the last three months for revision only. But, if a candidate is determined enough to take the exam with 90 days preparation only, they can abosolutely give it a try.
Also Check:
How to clear CA Final in 4 months?
Commonly asked questions
Yes, it is possible to cover the CA Intermediate syllabus in three months but one needs to spend about 12-14 hours in studies on daily basis. The timeline and targets have to be achieved dedicatedly and in a focused manner. If a candidate has appeared for the CA Inter exam previously they will have a better grip of syllabus to complete it in a short time of 3 months.
It is not easy, yet not impossible to crack CA Intermediate exam without coaching. If a student is determined, disciplined and fully dedicated towards CA Inter exam preparation, she/she can crack it with self-study.
Typically, 6 to 12 months are needed to cover CA Final exam syllabus. Those who are pursuing only CA course will need a minimum of 6 to 8 months, whereas working professionals balancing job with CA course will need 9 to12 months. Those who have made previous attempts in CA Final, may be able to cover the syllabus in 6 months. But in all scenarios, one needs to study in a focused manner as the syllabus is vast and requires in depth study. About 2 to 3 months are needed for practice and revision only.
To cover the CA Final exam syllabus:
· Start with tough topics so that you can revisit them later if need be
· Do regular practice and revision of tricky topics
· Join study groups for problem solving
· Attend ICAI lectures and online sessions for guidance
3 Month Preparation Plan for CA Exam (Foundation, Inter & Final)
Candidates shouldn't prepare for CA Foundation, Intermediate or Final exam in the last 90 days. A student can clear CA with 3 months preparation only if he/she has already covered at least one subject and have completed coaching classes. However, if you still want to give it a try, here are some preparation tips to follow for Chartered Accountancy exam:
- Make sure you know and understand the latest syllabus and pattern for the appearing course level.
- With only 90 days left, Smart Work is prefereable.
- In the first 30 days, perform intensive study and try to cover 60-70% of your syllabus, while focusing more on high-weightage topics.
- In the next month, complete the remaining syllabus and start practicing.
- Make sure to practice questions from practical subjects like financial management, cost accounting, etc., and time yourself to know how much time you are taking to solve a question.
- If you are taking more than the required time to solve a single question, work on your speed, accuracy and time management.
- Give at least 4 hours daily for practical subjects.
- Prepare a formula book and revise them daily. It will also help in last-minute revision.
- Make a separate notebook to jot down common errors you make after analyzing your practice questions and work on them.
- For theory subjects like auditing, taxation, law, etc., focus more on keywords and technical terms. Cover ICAI study material religiously for this.
- Theory subjects require you to retain facts and information, so try studying early in the morning as it will help you concentrate on the information with more focus.
- To maintain balance, study one practical and one theory subject daily.
- In the last 90 days, tak eat least two full revisions and one full length test in exam like environment.
- Practice from revision test papers, mock tests, etc.
- ICAI also conducts mock tests for students, the dates for which are released on official website. Make sure to take those tests.
Things to Keep in Mind While Preparing for CA
While preparing for CA foundation, intermediate or final exam, a candidate must keep certain things in mind. Check below for the same:
- Make a habit of studying 10-12 hours daily if your have 90 days left.
- Follow strict routine and stay away from social media or any other source that can distract you from your studies.
- Stick to ICAI study material as it is considered more reliable.
- Focus on high weightage topics first
- Do not try to cover 100% of the syllabus completely, aim towards indepth knowledge of 80% of the syllabus
- Make sure to give 5-7 full length mock tests in exam like environment
- Do not force yourself to clear both groups in one session. Focus on clearing one group at a time to increase your chances of attaining passing marks.
Check Out:
CA Foundation Syllabus
Check below to get ICAI CA foundation syllabus:
| CA Foundation Paper | Syllabus |
|---|---|
| Paper 1 Accounting | Module 1: Chapter 1: Theoretical Framework Chapter 2: Accounting Process Chapter 3: Bank Reconciliation and Statement Chapter 4: Inventories Chapter 5: Depreciation and Amortisation Chapter 6: Bills of Exchange and Promissory Notes Chapter 7: Preparation of Final Accounts of Sole Proprietors Module 2: Chapter 8: Financial Statements of Not-for-Profit Organisations Chapter 9: Accounts from Incomplete Records Chapter 10: Partnership and LLP Accounts Chapter 11: Company Accounts |
| Paper 2 Business Laws |
Chapter 1: Indian Regulatory Framework Chapter 2: The Indian Contract Act, 1872 Chapter 3: The Sale of Goods Act, 1930 Chapter 4: The Indian Partnership Act, 1932 Chapter 5: The Limited Liability Partnership Act, 2008 Chapter 6: The Companies Act, 2013 Chapter 7: The Negotiable Instruments Act, 1881 |
| Paper 3 Quantitative Aptitude | Part A- Business Mathematics Chapter 1: Ratio and Proportion, Indices, Logarithms Chapter 2: Equations Chapter 3: Linear Inequalities Chapter 4: Mathematics of Finance PART-B: Logical Reeasoning Chapter 9: Number Series, Coding and Decoding and Odd Man Out Chapter 10: Direction Tests PART-C: Statistics Chapter 13:Unit I: Statistical Representation of Data, Unit II: Sampling Chapter 14: Measures of Central Tendency and Dispersion: Unit I: Measures of Central Tendency, Unit II: Dispersion Chapter 15: Probability Chapter 16: Theoretical Distributions Chapter 17: Correlation and Regression Chapter 18: Index Numbers |
| Paper 4 Business Economics | Chapter 1: Nature & Scope of Business Economics Chapter 2: Theory of Demand and Supply Chapter 3: Theory of Production and Cost Chapter 4: Price Determination in Different Markets Chapter 5: Business Cycles Chapter 6: Determination of National Income Chapter 7: Public Finance Chapter 8: Money Market Chapter 9: International Trade Chapter 10: Indian Economy |
Commonly asked questions
You cannot cover CA Intermediate syllabus in your first attempt. You need to give at least six to 12 months to the course. The CA Inter has six papers and every paper has a number of chapters. And every topic requires time. However, if you have appeared for CA Inter exam before and it's your second or third attempt, you can cover the syllabus in less time than before, as you would be fairly familiar with the topics and difficulty level.
CA Foundation may be the easiest of all CA level but it's difficulty level is high on its own. So, one should at least spend 6-8 months in preparing for the exam. Coverage of CA Foundation syllabus needs a lot of time post which students need to practice a lot of sample questions and mock tests. Students must dedicate minimum 8 hours daily to study for CA Foundation.
The difficulty level of CA Intermediate exams is high. It is considered to be one of the toughest exams to crack due to the vast syllabus and multiple subjects. The pass percentage of CA Intermediate exam is low and candidates have to make multiple attempts to clear it. CA is a course, one can complete without coaching and guidance. Even though study material, test practices and other support is provided by the ICAI, it is not really possible to study by self. The topics and chapters are vast. They require guidance and practice as well as discipline and productive study hours.
CA Intermediate Syllabus
Refer to the table below for ICAI CA Intermediate Syllabus:
| Syllabus for CA Intermediate Course |
|
|---|---|
| Group I |
Group II |
| Paper - 1: Advanced Accounting |
Paper - 4: Cost and Management Accounting |
| Paper - 2 : Corporate and Other Laws |
Paper - 5: Auditing and Ethics |
| Paper - 3: Taxation Section A: Income Tax Law Section B: Goods & Services Tax |
Paper – 6: Financial Management & Ethics Management Section A: Financial Management Section B: Ethics Management |
ICAI CA Final Syllabus
Students preparing for CA Final exam can check below table to get CA Final syllabus:
| CA Final Syllabus Group I |
Chapters |
|---|---|
| Paper-1: Financial Reporting |
Introduction to Indian Accounting Standards Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) Ind AS on Presentation of General Purpose Financial Statements Ind AS on Measurement based on Accounting Policies Ind AS 115 “Revenue from Contracts with Customers” Annexure: Division II of Schedule III to the Companies Act, 2013 Ind AS on Assets of the Financial Statements Other Indian Accounting Standards Ind AS on Liabilities of the Financial Statements Ind AS on Items impacting the Financial Statements Ind AS on Disclosures in the Financial Statements Accounting and Reporting of Financial Instrument Ind AS 103 “Business Combinations” Consolidated and Separate Financial Statements of Group Entities Ind AS 101 “First-time Adoption of Ind AS” Analysis of Financial Statements Professional and Ethical Duty of a Chartered Accountant Accounting and Technology |
| Paper-2: Advanced Financial Management |
Financial Policy and Corporate Strategy Risk Management Advanced Capital Budgeting Decisions Security Analysis Security Valuation Portfolio Management Securitization Mutual Funds Derivatives Analysis and Valuation Foreign Exchange Exposure and Risk Management International Financial Management Interest Rate Risk Management Business Valuation Mergers, Acquisitions and Corporate Restructuring Startup Finance |
| Paper-3: Advanced Auditing, Assurance and Professional Ethics |
Module 1 Quality Control General Auditing Principles and Auditors Responsibilities Audit Planning, Strategy and Execution Materiality, Risk Assessment and Internal Control Audit Evidence Completion and Review Reporting
Module 2 Specialised Areas Audit-related Services Review of Financial Information Prospective Financial Information and Other Assurance Services Digital Auditing & Assurance Group Audits Special Features of Audit of Banks & Non-Banking Financial Companies
Module 3 Overview of Audit of Public Sector Undertakings Internal Audit Due Diligence, Investigation & Forensic Accounting Emerging Areas: Sustainable Development Goals (SDG) & Environment, Social and Governance (ESG) Assurance Professional Ethics & Liabilities of Auditors |
| CA Final Syllabus Group 2 |
Chapters |
| Paper-4: Direct Tax Laws & International Taxation |
Module 1 Basic Concepts Incomes which do not form part of Total Income Profits and Gains of Business or Profession Capital Gains Income from Other Sources Income of Other Persons included in Assessee’s Total Income Aggregation of Income, Set Off or Carry Forward of Losses Deductions from Gross Total Income
Module 2 Assessment of Various Entities Assessment of Trusts and Institutions, Political Parties and Other Special Entities Tax Planning, Tax Avoidance and Tax Evasion Taxation of Digital Transactions Crossword Puzzle
Module 3 Deduction, Collection and Recovery of Tax Income Tax Authorities Assessment Procedure Appeals and Revision Dispute Resolution Miscellaneous Provisions Provisions to Counteract Unethical Tax Practices Tax Audit and Ethical Compliances Questions based on Significant Select Cases Crossword Puzzle
Module 4 Non Resident Taxation Double Taxation Relief Advance Rulings Transfer Pricing Fundamentals of BEPS Application and Interpretation of Tax Treaties Overview of Model Tax Conventions Latest Developments in International Taxation Annexure Crossword Puzzle |
| Paper-5: Indirect Tax Laws |
Module 1 Supply under GST Charge of GST Place of Supply Exemptions from GST Time of Supply Value of Supply
Module 2 Input Tax Credit Registration Tax Invoice, Credit and Debit Notes Accounts and Records; E-way Bill Payment of Tax Electronic Commerce Transactions Returns
Module 3 Import and Export Under GST Refunds Job Work Assessment and Audit Inspection, Search, Seizure and Arrest Demands and Recovery Liability to Pay in Certain Cases Offences and Penalties and Ethical Aspects under GST Appeals and Revision Advance Ruling Miscellaneous Provisions Customs and FTP
Module 4 Levy of and Exemptions from Customs Duty Types of Duty Classification of Imported and Export Goods Valuation under the Customs Act, 1962 Importation and Exportation of Goods Warehousing Refund Foreign Trade Policy |
| Paper-6: Integrated Business Solutions (Multidisciplinary Case Study with Strategic Management) |
Case Studies |
CA Preparation Books
Selecting the right study material is essential to crack CA exam for any of the three courses. Students studying to take CA Foundation, CA Inter or CA Final exam must check the table below to get recommended books for CA examination:
| CA Foundation Books | CA Intermediate Books | CA Final Books |
|---|---|---|
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