Read the amazing story of a CA Students who after going through constant failure has finally succeeded in the CA Final exams and has finally become a Chartered Accountant. CA Sharath, shared his success story and tips for fellow CA Students through this interview. Mr.Sharath also shared the books he referred and mistakes he have done during CA Final exam preparation, that everyone needs to avoid. Must See : Books Referred by CA Final Topper.
What was your immediate reaction as soon as you have come to know that you finally cleared the CA Final exam:
To be honest, i double checked my result to make sure it finally happened. Immediately, i called my parents and talked to them for a while. Then, i met my friends Anil and Piyush. These are the people that has been with me through all these hard times.
Can you explain your CA journey
I cleared my CA IPCC Exams way back in 2010. I cleared both groups in single attempt. My CA Final attempt was scheduled for May 2013. I kept failing each attempt.
First few attempts, i filed in subjects like ISCA and Law. During last few attempts, i cleared those papers by failed in Aggregate.
Then i realized the biggest mistake i have been doing for a while. Whats happening is, the gap between Results declaration time and next exam is just two and half months. This short time is not enough to study both groups.
So, every attempt, i could cover only 75% of the syllabus and this results in my failure. So, for May 2016 exams, i took a strong decision and applied for only First Group.
Due to this half of my burden has reduced and the two and half months time was more then sufficient for my preparation. I cleared CA Final Group-1 in May 2016 attempt. I secured exemption in Law and FR.
Now after clearing first group, my confidence has improved immensely and now i am strong enough to feel that i am already a Chartered Accountant. For Nov 2016, i prepared much better for Group-2 and cleared it with 241 Marks.
Can you suggest any Books for CA Final Preparation?
Last October, i went through CAexam article on Recommended books for CA Final students and blindly followed that. The books are as follows:
- Financial Reporting – MP.Vijay Kumar
- SFM – Practice Manual
- Auditing – Pankaj Garg
- Law – Munish Bhandari
- AMA – Padhuka
- ISCA – Practice Manual
- Direct Tax – Vinod Gupta
- Indirect Tax – Bangar
What’s your future plans?
Even though i failed these many attempts, my Articleship training has been pretty impressive.
I got good amount of practical experience in Taxation and Corporate Laws. These failures have taught me patience, being humble etc. With these two combined, i think i will be one of the most successful practising Chartered Accountants.
I will attend few interviews and finally join a CA firm as a partner.
What is your suggestion for CA Students going through failure?
Don’t attempt the exam if you are yet sure with your preparation. Postpone your attempt or give exam one group each.
Once you clear any one group, you will gain immense confidence and respect from yourself. Prepare from ICAI practice manuals and Study Materials. I have observed that, around 70% questions from subjects like Financial Reporting and AMA are being directly asked from PMs only.
ISCA might seem like the hardest subject in the beginning, but once you actually look into its syllabus carefully, you will understand that it is one of the easiest subject. The biggest advantage with ISCA is that, entire question paper has to come from known questions only. Stress on scoring papers like Financial Reporting, Auditing and Direct Tax.
Keep yourself updated with amendments and changes. Keep only useful apps like CAexam on your phone and remove all other entertainment content.
Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing.
You build on failure. You use it as a stepping stone. Close the door on the past. You don’t try to forget the mistakes, but you don’t dwell on it. You don’t let it have any of your energy, or any of your time, or any of your space.
Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence. Thank You. All the Best.