Around 60 days are left in your Exams. This is the golden attempt, as you get a good time for preparation and that too without office hours due to lockdown. You don’t have any excuse to fail in this attempt. It is quite important as to how you will study for these 60 days. You have to give almost 10 hours effectively which means "aise nhi hona chaheye ki books open hai but apka mind content ko accept hi nhi kar rha. Us case mein aap thoda rest Karlo".
You have to study in 30 minutes' time slots. After every 30 minutes drink sips of water and refresh yourself then start again after 10 minutes. Each day spend 15 minutes to plan the studies of the next day.
For practical subjects, you need to spend 75% time on practice. I will suggest subject-wise material in few seconds.
In the theory part, 45% time on revising the provisions, sections, and content. 30% on practicing MCQs because it helps to clear the concepts, you have to read one topic and attempt its MCQs simultaneously, don't delay the practice of MCQs. And rest 25% time on written practice. By written practice, I don’t mean full questions but you can practice by writing the synopsis of the topic also. Just like drawing a circle, write a topic name in that and around the circle write key-points to cover on that topic.
Now I am explaining you the subject wise strategy
Financial Reporting – Short Ind AS part covers good marks, practice each question of study material, RTP, MTP, and past papers. Attempt one Ind AS per day. Lengthly Ind AS like 102, 12, 33, etc will be studied as 1 IND AS in 2 days with complete practice and though revision from class notes, study material, or you can mail us on [email protected] for notes.
Big and difficult topics like consolidation, business combination needs 4-5 days per chapter. These will give you good marks and helps to cross 60+ easily. Most questions include 10-12 common adjustments so it can be tackled.
Short Ind AS’s you can study now and after that study after 10th July, other topics like lengthy Ind AS and big chapters need 2-3 revisions in June.
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Strategic Financial Management – This subject is scoring and completely depends on your practice, how many questions you have solved. The theory part needs to revise before 20 days from the exams. Now spend around 2 hours on practicing questions from the Reference book you are practicing, study material, RTPs. At the end of June, you should solve a mixed variety of questions instead of attempting topic wise questions.
Portfolio management, forex, derivatives, and interest rate risk management needs to solve with patience. Spend at least 3 days on each topic and study in-depth. Other topics can be managed as 1 or 2 days per topic.
No need to revise all the topics 3-4 times, easy topics can revise 2 times only. Focus on big topics and spend more time on that.
Advance Auditing – Ethics and companies act part comprises of 35-40 marks, this is the most scoring area in the audit. Use mnemonics or any pattern but you should know clause number, section sec on each provision. You can easily score around 28-30 from here. Must MCQs simultaneously to grip on the concept clarity.
Other small topics take around 7-8 days, some topics can take 2 days like fiscal laws and banks. You can refer to any question bank for this subject and study from class notes. SA’s part is less scoring; you should need to cover more and more points in your answers for scoring well.
Corporate and Economic laws – As per last some exam papers, questions are quite lengthy in law. Your understanding should be good and reading speed is also required. MCQs will be quite helpful in improving concept clarity. Don’t spend the most time on the director’s part.
Use reference books and a question bank for good practice. Here you need to practice by writing key-points in written format. Economic law is scoring and needs a good time; spend around 10 days on 6 chapters. These will help in scoring 60+. Misc. provisions or foreign companies can be studied in July month.
Your target should be at least do written practice of 6 questions from each chapter to gain confidence.
Mainly examiner evaluates based on the number of key-points you cover in a particular question.
SCM-PE – Give 2 to 2.30 h daily. Refer to the class reference book, RTP, MTPs, and study material. Scoring is possible according to the number of questions you practice.
Pricing decision, decision making, cost management techniques, and transfer pricing will take 3 days per topic. You need to attempt at least 10-12 questions of each topic. Leave simple topics for the time being and revise them before 20 days before the exams.
Major topics will take around 20-22 days to complete the syllabus. In the second revision, give 80% time on practice only. Attempt case studies after the first revision in 1-2 days.
Direct Tax – In both subjects, MCQs will play a great role in concept clarity and speed. Difficult and important chapters include PGBP, TDS, Charitable trust, Assessment, and Transfer Pricing. Each of them will require at least a day and a half in a total of 10 hours daily. These chapters can be asked for 50+ marks so practice them thoroughly. You can start from PGBP or CG continued by IFOS and then modules 2,3 and 4.
The topics of House Property and Salary are not that important but are still recommend to study once in one month before the exams.
For practice, keep a daily target of 20 MCQ and 5 questions of the same concept. Every Sunday, review all the topics learned in a week. Keep in mind that Supporting provision to your treatment is important to mention for scoring good marks.
The main topics will take 20-24 days to revise only with good practice.
Indirect Tax - Some chapters which are difficult and require more practice are Value of Supply, ITC, Refunds, and Valuation under Customs. You should study the questions in the Study mat as well as past papers, 2-3 past RTPS, and mock papers. The rest of the chapters are quite manageable like studying and understanding any other law.
Here again, MCQs will help in concept clarity. You need to work on reading speed and understanding quickly because case study based MCQs may consume more time.
The main topics will take around 20 days and you can easily revise 2 times with good practice.
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Must clear CA Exams this attempt and bring time on your parent's faces in these tough situations. Don’t engage in unnecessary talks like whether exams will cancel or like that. Your only focus should be on Exams. Your content in the provisions part is the key to score good marks. Don’t lose marks due to presentation mistakes.
Best of luck, keep watching and keep supporting.