Study Plan For CA Foundation Exam 2020: CA foundation exam is an entry-level exam for students to pursue a career in Chartered Accountancy. The exam is conducted by the Institute of Chartered Accountant of India twice a year.
CA is one of the toughest exams to crack. You should have the right resources and study plan to crack the exam. If you are you preparing for CA Foundation exam then you must plan properly.
Here we have provided a detailed guide on Study Plan For CA Foundation exam 2020.
Study Plan For CA Foundation Exam 2020
Chartered Accountant exam is one of the toughest exams in India. The demand for Chartered Accountant is booming day by day because of growing entrepreneurship in the country.
To get a better result in any exam, you should have a solid preparation planning and focused mind-set. You have to create a proper study plan and stuck on it.
- Company Secretary Official Site: icsi.edu
CA Foundation exam will be conducted on 5th, 13th, 15th, 17th, November 2020. So, you have to prepare within the upcoming months to achieve a greater goal. You should be dedicated to your study plan and free from distraction.
Ultimate Study Plan For CA Foundation
You can prepare better with a solid plan within the next few months. You should know your area of weakness and strength in various subjects.
Through daily practice and thorough study, you can develop depth concepts. Hard work is always important, but smart work is similarly essential.
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Check step by step CA Foundation preparation tips to crack the exam.
Step 1: Understand The CA Foundation Syllabus And Exam Pattern 2020
Before starting your CA Foundation preparation, you should be aware of the CA Foundation syllabus and question pattern. Preparation without knowledge of the syllabus is just like finding a person without knowing the address.
The CA Foundation has subjects –
- Principles and Practices of Accounting.
- Business Laws and Business Correspondence and Reporting.
- Business Mathematics and Logical Reasoning and Statistics.
- Business Economics and Business and Commercial Knowledge.
Now check the CA Foundation syllabus and identify the tough subject for you. Start with tougher one so that you can easily build a solid concept within the preparation period.
How does CA Foundation Syllabus help students learn effectively?
- The syllabus for CA Foundation describes the topics and concepts to be covered.
- CA Foundation syllabus also mentions the weightage allotted to different units and chapters. It will help you to form a strategy on how to prepare for chapters with high or low weightage.
- It lets students know about the type of questions asked and various sections employed in the exam papers.
- Having a clear understanding of your CA Foundation syllabus and the weightage to various sections will definitely help you to decide how much time you should dedicate to each section.
Step 2: Prepare a Time-Table
Without a proper study time table, it will tough to cover all subjects before the exam. You have to give top priority to those subjects where you have less knowledge. Once created a study plan for CA foundation exam 2020, should follow it strictly. Consistency is the key to success in any field.
How to make a Study Time-table?
A timetable prioritizes your activities and all the subjects for the study included in your course. It tells you when to do a thing and how much time to do it.
Let me tell you a stepwise method of making a timetable.
- Write down the names of common activities that you do daily
- Write down the names of your subjects or books that are included in your course
- Calculate The Time That You Have Apart from the Time of college or school and sleep
- Allocate Time To Each Subject and Other Common Activities
- Write Your Timetable on A Paper
- Paste Your Timetable on a wall in Your Study Place
Step 3: Prepare With Best CA Foundation Books 2020 And Study Materials
You should pick up the best CA Foundation Books. You should allocate time to every subject and every chapter according to the days left in your exam. It will organize correctly organize your studies and also help you to analyze your performance.
Step 4: Join A Proper Coaching Classes proper coaching
You can join a coaching center to clear your concept and get a depth knowledge. Many of the students crack this exam without coaching with just passing marks. But it is always better to have a depth concept on subjects rather than just clear the exam. It will also help to score better.
Step 5: Provide Your More Attention on Statistics and Logical Reasoning
You have to focus on Statistics and Logical Reasoning if you are a Non-Maths commerce student. It appears as tough subjects for Non-Maths students. Logical reasoning covers 20 marks, and the remaining part is divided equally among Maths and Statistics. Therefore Non-Maths should focus mainly on Statistics and Logical Reasoning.
ICAI has introduced this paper Business Mathematics and Logical Reasoning & Statistics at the CA Foundation Level which is one paper of 100 marks divided into three parts:
- Business Mathematics – Ratio and Proportion, Indices, Logarithms, Equations and Matrices, Linear Inequalities, Time Value of Money, Permutations and Combinations, Arithmetic and Geometric Progressions, Sets, Functions and Relations, Calculus.
- Logical Reasoning – Number Series, Coding and Decoding and Odd Man Out, Direction Tests, Seating Arrangements, Blood Relations, Syllogism
- Statistics – Statistical Description of Data, Measures of Central Tendency and Dispersion, Probability, Theoretical Distributions, Correlation And Regression, Index Number and Time Series
Step 6: Make sure You Have CA Foundation Revision Notes
To make better and quicker revisions before the CA Foundation exam, you should make a note on every single topic. You should always prepare your own short notes during your classes to get immense benefits at your exam time.
To make notes, you have to read books and attend classes of your teachers and make a summary of them that could be understood by you.
You can make CA Foundation Study notes in two ways. First, the ideas may be collected and then a proper shape is given to these ideas to make final notes. Ideas from the lecture, while it is delivered by the teacher as well as ideas from written material, are collected to make study notes.
Step 7: Command Over Calculator
ICAI allows CA exams. You should have knowledge over various command on the calculator to save more time while calculating. Learn the short keys like M+, M-, G etc.
4 Time Saving Calculator Tricks
Have a look at the below mention tricks –
- For Repeated calculation –
First of all, you have to decide a number which will be required in repeated calculations. Thereafter whatever calculation you want to be done with that number, you have to press that symbol twice resultant “K” will appear on your calculator screen.
- Use of GT in Calculator –
GT referred to Gross Total. While searching for the results like NPV, this button is deemed to be very useful as it saves a lot of your crucial time. It stores the result of the current operation and added it to the previous operation.
- Use of Memory Operations –
The use of Memory Operations includes M+, M- and MRC buttons. The use of these memory buttons saves a lot of time starting from CPT to CA Final. Whenever you press M+, the number displayed on your screen will get added to M+, and similar with M-, then press MRC for the result.M+ is used to add the numbers while M- is used to subtract the numbers.
- Multiply a number without writing it again
Let’s take an example – you have to calculate 25*25 the result of which would be 625.
Enter 25 in your calculator, then press * and then =, you will get your answer i.e. 625.
Step 8: Take Short Breaks
For a long time study, you should take a short break to defeat procrastination. Take short breaks of 10-15 minutes every 2-3 hours to refresh your mind. Morning is the best time to study theory subjects. You should revise what you have done every day.
Benefits of Taking Short Breaks
You will get multiple benefits of taking breaks while studying. Here we have covered a few notable benefits.
Several studies suggest that the brain has a limited capacity to receive information. Just like the body, even the brain has limits. After reaching the limits, your mind assumes that the information studied is unimportant. Although you think you are studying your mind is actually just reading the material instead of learning it. At such times, best to take a break and then resume your studies.
Relaxes the Mind
Studying for long hours at a stretch creates information overload, therefore taking a break is a must. While taking a break your mind relaxes. During the process of relaxation, your mind refreshes and is ready to store more information and functions at its optimum level.
After continuously utilizing your mind with information over a long duration of time, it is important for you to take a break. Besides your concentration deteriorates over continuous study. Hence to improve concentration it is important to take a break. With a refreshed mind you become more focused and are most likely to study well and remember the matter discussed.
Speeds up Learning
With a refreshed mind, your attention span is increased thus enabling you to learn the matter fast. Retaining information becomes easy and fast with a refreshed and rested mind. Once the mind is relaxed it is able to function at its optimum level and memorizing information is relatively easier.
Yields better Results
The pace at which a refreshed mind functions in comparison to an exhausted one are poles apart. Because just as the body needs rest so also the mind requires rest in order to function at its optimum level. When the mind is functioning at its optimum level the amount of time spent in understanding the matter and memorizing the information is improved. It will also boost the chances of recalling are higher.
Step 9: Solve Mock Test Papers & Previous Exam Papers
CA Foundation mock test papers are beneficial to clear the exam. You will learn time management and understand the exam better. But make sure that you have completed the whole syllabus before solving the online mock test series.
Solving the mock test and previous exam papers on daily basis assists in time management. You can begin by solving one paper per day and calculate the time taken for completing it. This will thereby help further in gaining a good insight into your speed and accuracy. Also, you will get a platform for knowing your strength and weaknesses whereby you can further work in building your caliber.
Step 10: Focus On Study Plan & Revision In The Last Month
You should focus more on the preparation. Never take it lightly as this is no more your school exams. Stay away from distractions like social media. Stay calm and relax to maintain your self-confidence.
You should revise appropriately after completion of the study. Last month a crucial time. You should revise every topic before the final exam. For that make an order of subjects for revision.
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Now you have a brief idea on Study Plan For CA Foundation Exam 2020. Feel free to ask us your doubts in the comment section below.