Preparing for the group II paper-5 CA Final Strategic cost management and performance evaluation is a final step to becoming a CA after passing the group I exams. Passing the CA final exams was never that easy for the student and is still the same. But it can be done if you are committed to your study and have made it a schedule to study on a regular basis with dedication. We all know the CA final SCM and PE is not a child's game since it can be a life-changer. So, CA Test Series is sharing some important tips that you must follow to get the best results in exams.
Prioritize your syllabus before starting study
You need to start prioritizing your chapters and syllabus before the actual preparation. It helps you easily pick the important chapters and decide what should you pick first and what later preparation. This is why it is important you set the priorities and then execute the plan according to the setlist.
- Decision making, pricing decisions, and CVP analysis are the chapters that you must keep on first in the list of important chapters since they carry the weightage of 25-30 marks in the exams.
- Then comes the Transfer pricing which is for about 10 marks and you can prepare it from the CA Exam Series.
- Standard costing contains 8 marks in the examinations
- Budget contains 8 marks
- Transportation and Assignment that carry 8 marks in the exam.
- CPA & PERT is of 10 marks
- Linear Programming contains 8 marks in the exam.
Things to remember when you execute the above structure
- Before you start for the preparation of the paper, do not forget to prepare with the cost & management accounting and strategic management. This way you will easily understand the concept for SCM and PE and will be fully prepared for it.
- Another important thing to remember is to go give ICAI Test Series that you should never leave without
- Preparing. The series is prepared by ICAI and mandatory to study since this will enable you to prepare well for important questions and problems.
- Make sure you practice the case studies and well since they have the weightage of a minimum of 30% marks. They are asked in the exam to assess your knowledge for the contemporary chapters.
- Make sure your concepts and approach is clear and take help from the experts if not. If anywhere you stumble so do not hesitate to ask the experienced ones to solve it since it is important that you are concepts are clear based on the case studies.
- Make sure to prepare notes with chapter-wise key points and so that whenever you need them you can get back to them for the quick revision and check them if you are stuck at a point.
- Make the time table categorizing the daily study syllabus. Execute the plan to achieve daily targets. This will help you go along with the plan you have made for yourself.
- Practice sums and problems from time to time to check your preparation from the CA Final Mock Test Series and solve the questions making the notes of the mistakes you have made.
Tips to score well in the CA final SCM and PE exam
- Read the questions and cases that are based on skills, try to read them carefully since they are a bit confusing. So, read twice if you feel the need before answering them. But also remember that you should not waste much time on it since students waste a lot of time in exams despite knowing the answers.
- As soon as you get the question paper, start utilizing the time to read the paper given by ICAI. Read the paper carefully and use this time to score well. Prioritize your questions and attempt those of the few which you are confident at. Decide how long will you take to complete the question and try to attempt the questions within the set time and make the revision quickly.
- The best way to save time is by not getting stuck on one calculation or problem. If you do not remember the solution or unable to solve it then move to another without wasting any more time on it.
- While solving case studies you must make a plan and decide what concepts and models should be used in the exams. Brief the problem analysis in detail and explain what actions should be taken to resolve. Use what why and how while concluding the answers you have prepared from ICAI Test Series.
- Make sure you have numbered your answers correctly as per the serial number of the questions. Do not make mistakes in numbering them since it will cost you a lot.
- The important thing that you should avoid doing in the exam is scribbling and rewriting on the initial pages of the answer sheets.
Follow the above points and suggestions that will help you prepare potentially for the CA final exam. CA Test Series offers the CA Final Test Series Free for the students to practice and score well for the exam. So, start following the pointers and see the result will be positive.
Resources to prepare for CA Final Strategic Cost Management and Performance Evaluation
Past 3 Years Revision Test Papers (RTPs)
Mock Test Papers (MTPs)
Past 3 years Question Paper with Suggested Answers
May 2020 onwards - Click here