Hello students! You must be appearing for the CA May foundation exam 2020. Exams come with tension, stress, worries but when it comes to Chartered Accountancy exam these emotions just get double as CA is considered to be one of the toughest exams conducted in India. But don’t worry easy or difficult all depends upon your preparation. Here we have shared some useful strategy subject wise which will help you in preparation for the CA foundation.
Your next few months will be stressful and there is no such time left so you have to prepare yourself to get 100% certainty. So pull up your socks and get ready for giving the exam with full preparation and you are not alone in this journey so stay positive and use quarantine period to devote it in your preparation.
CA foundation will help to select the students in a better way. As CPT is MCQ based paper but CA foundation will be partially subjective and objective. Now your presentation and writing skills will be playing an important part in the upcoming exam.
Now, you are having just a maximum of 2 months to prepare for this exam. You have to make strategies and have to do hard work to gain the best results.
Below we have provided you with the preparation of the CA foundation exam subject-wise.
CA Foundation Subject-Wise Preparation Plan
Subject- Principles and Practices of Accounting
Exam Type- Subjective
From the 4 subjects, the first is the Principles and Practices of Accounting. This is the first subject and you will be familiar if you are from commerce background.
It is conducted of full 100 marks, you can score good marks as this is subjective and you must be doing this from class 12th. Try to practice more and more as only practicing the questions will lead you to good preparation.
You can practice it on a daily basis and in this quarantine period you should utilize this time for practicing a good amount of questions.
Subject- Business Law and Business Correspondence and Reporting
Exam type- Subjective
The second paper is divided into 2 parts of Business Law and Business Correspondence and Reporting.
The first subject that is Business Law, it will be a new subject for the students who are giving CA foundation after 12th. But don’t worry as it gives information about laws prevailing in India. And you should have a knowledge of the laws of India, so it will give you the basic knowledge too. This subject will be the part of paper 2 and will be of 60 marks.
It will be a complete theory-based subject so you have to learn about the law plus having a great presentation skill. You have to work on your writing skills too. The learning part will be easy but you have to give attention to the writing part as well.
The next subject we will be discussing is Business Correspondence and Reporting. In general, we can call it ‘General English’. This subject is newly inserted by the ICAI in the CA foundation as per the new scheme. This came into force for the motive to improve the communication skills of the CA’s in today’s world. This is also a general subject which we have studied in our school.
This is the part of paper 2 which will carry 40 marks.
The score in this paper can be high if you have studied from an English medium school. This is just like icing on the cake. You can practice it for 3 days a week for at least 2 hours. These tips will help you in the preparation for the CA foundation.
Subject- Business Mathematics, Logical Reasoning, Business Statistics.
Exam type- Objective
Maximum marks- 40+20+40
The first subject will be Business Mathematics which will be carrying 40 marks. However, the course in this subject will be similar to the 11th and 12th of mathematics, if you were from a PCM, science or commerce background.
But if you are not a maths student then this will be a bit challenging subject for you. ICAI will be providing you with all the study material and you have to give much attention to it as it will be an objective type of paper so you have to be quick and correct with your answers and this will only come by practicing. You have to practice it daily to get better results.
The next paper of paper-3 will be Logical Reasoning which will carry 20 marks. The course is very general and what we have studied till the 10th class. The calculation part will be easy as you can use calculators and the probability of getting the wrong answers will below.
The next paper you will be dealing with is Statistics of paper-3. The course will be as general and what you learned till class 10th. As you will be getting to use a calculator, the calculation part will be easy.
So you have to prepare fully for these 2 subjects effectively if you are from a non-mathematical background in 11th and 12th.
Subject- Business Economics and Business and Commercial Knowledge
Exam type- Objective
Maximum marks- 60+40
Business Economics will carry 60 marks and the paper will be objective type. You have already studied this subject in class 12th if you are from commerce background. Scoring in this subject will be easy as you will be provided with the module paper by ICAI.
The next paper will be Business and Commercial Knowledge. This is a new subject added to the CA foundation course. This will give you the basic knowledge of business and will be carrying 40 marks in Paper-4.
If you are from a commerce background or have taken entrepreneurship as a subject in class 12th then this will be easy for you and you may score well in the CA foundation.
As this is a theoretical subject so you can start this part in the last and the clarity of subjects is important because the learning part is less required. These tips will surely help you in the preparation of the CA foundation.
So this is the right time to prepare yourselves for the exam as the date is shifted because of COVID-19 and this quarantine period will help you to prepare yourselves to the fullest and these tips will help you to prepare for CA foundation and tell us how they helped you. All the best!