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As promised by ICAI, they released the results of CA Finals and CA Foundation December 2021 exams on 10th February 2022. Though the passing percentage remained really high, more than the average of the past few attempts.
If we talk about CA Finals then the pass percentage of Group 1 was approximately 22%, for Group 2 it was a historic 30% and students who cleared both groups were 15%. In total 11,868 students became Chartered Accountants and are now the new members of ICAI.
If you are among the one who cleared the exams then you shouldn't let the party stop for at least a week. This is the moment for which you did all the efforts in all these years. Now it's time to celebrate your due.
But in this Article, we will talk to students who couldn't make it in this attempt because of any possible reason.
First of all accept that you couldn't clear and this is the reality. It won't happen immediately but try to acknowledge this fact as soon as you can because you have very less time left for your next attempt.
Don't keep a baggage over yourself that you did something wrong. It's completely fine what happened. You need to analyse what went wrong and start working.
If you keep on thinking and don't let it go then you will be just hampering your next attempt. You have approximately 90 days left for your May 2022 exams and even one day extra wasted is going to hamper your next attempt.
Consider it a bad phase of your life and forget it. Remember that you don't have any other alternative, you need to focus.
When you accept the fact that you have no time left for May 2022 attempt then automatically you will start working.
In every subject first of all pick those topics which cover the maximum weightage after analysing the past year trends.
You will observe in every subject there will be few chapters with maximum weightage and those chapters together will cover 40- 50% out of 100 marks.
If we talk about Financial Reporting then two chapters, Financial Instruments and Ind AS 115 have the maximum coverage. These two chapters have coverage of 20-30 marks.
You really need to focus on the presentation of the case studies as students lose a lot of marks due to poor presentation.
Divide these answers in 3 parts. The first part should be Provisions of the case, second part should be about explaining the case and lastly the third part should consist of conclusion.
Practice plays an important role in the CA Final Financial Reporting paper because it's always lengthy, never a short one. So, in order to tackle the exams, the first and the foremost thing is practice. If you have solved the same question two times then it will be far easier to tackle it in the exams.
Students get lazy when it comes to proper revision. They always complain that the syllabus is really vast but our question to you is that did you study multiple times?
In order to tackle the exams you need to have a proper study approach as no one knows from where the question will be asked. In the recent exams, ICAI has been unpredictable and went far away from the past trends.
Some students don't do proper practice and few of those who practice make proper formats and designs while practicing. You don't have to do that. Definitely you need to know the correct method of solving but solving time is more important.
Already the paper is vast and you can't afford to waste time on this.
If you don't read the questions properly then that will only lead to making silly mistakes in the exams.
In the paper of Financial Reporting precisely, conceptual clarity plays an important role. Whole paper can be solved only when you know the concepts in and out.
Don't feel that your work gets over just by watching the lectures. Your actual work starts after your class gets over. You need to sit for some time and properly revise the concepts as well as make self notes.
Do trust your faculty's book but don't miss out on the ICAI material as that's your Bible. Do study from the faculty's book but just see whether it has full coverage of ICAI's material or not. Don't miss anything which is there in ICAI's books.
The most important step in the preparation is solving mock test papers. Nothing is more important than that. Be careful with this step because this can make or break the situation.
There's no alternative to hard work. You have to study for maximum hours and increase your output to a great level so that there's no scope to not do well.
Study in slots of 5+4+3 hrs or 4+3+3+2 hrs. You don't know how much it will enhance your preparation.
We covered all the points which we felt were important for your preparation. We wish you all the best for your preparation and we know you will ace it.
If you are not confident about your CA Final Financial Reporting exam preparation then check out CA Final Financial Reporting Classes on Edu91at the lowest price.
{{Team EDU91}}