CA-CPT June 2019: 5 tips to make preparation easy!
Chartered Accountancy is the most recognised profession globally. Chartered accountants may serve on the boards of multinational companies, counsel the government, support charitable trusts and manage the finances of industries all over the world. They are in constant demand in all types of organisations across the world.
In any Chartered Accountancy course, aspirants are not just trained on theoretical knowledge but also develop practical experience along the way. Working in different firms gives them a platform where they can put what they learn to practice and develop skills for the future.
You can become a certified Chartered Accountant only when you are a member of ICAI. The first thing to become a member is to clear CA-CPT. You can achieve this only by studying various subjects in the course and acquire adequate knowledge. CPT is an MCQ or objective test. Each question carries 1 mark. There is also negative marking in the test; for each incorrect answer, a student will lose 0.25 marks. In addition, a student needs to secure 30% marks in each subject and 50% marks in aggregate.
The objectives behind the syllabus set by ICAI can be discovered for each subject below. Sit comfortably and read these five tips and tricks to make CA-CPT preparation easy in order to have a better chance of clearing CA-CPT.
TIP #1: Quickly read the syllabus first. Try to understand the link between concepts. Discover different elements of the concepts, the linkages, the differences among them, steps involved in various processes and jot these down on a notepad. Keep this sheet in a place where you can easily view it. Read it whenever you are about to start any topic.
TIP #2: The objective of the subject Fundamentals of Accounting is to develop conceptual understanding of the fundamentals of financial accounting. It gives students an idea about the financial statements, its interpretations and how it is analysed in decision making of accounting. Prepare your own notes on the conceptual chapters. This will save your time in revisiting a number of books again and again. Candidates are expected to be thorough with the Fundamentals of Accounting and applications of accounting in various practical situations.
TIP #3: Mercantile Law as a subject intends to test the general comprehension of the elements of mercantile law. You exactly have 2 months from now to attempt CA-CPT and the module of law is nearly 200 pages to cover. Try to prepare your notes as pointers; this helps in understanding the concepts thoroughly. Before starting a new unit or any new topic, revise quickly what you have studied earlier. Such revisions will surely help in remembering the provisions and rules of law.
TIP #4: The subject General Economics has been designed to ensure basic understanding of the economic systems, economic behavior of individuals and organisations. Economics is a subject which not only includes conceptual knowledge but also includes graph/diagram work and statistics. Practise by developing a graph/diagram on the basis of the given explanation. It is not really tough to remember statistical data if you are following your study timetable. After finishing each chapter, practise MCQs which are provided at the end. You could read a newspaper on finance and economics for general awareness.
TIP #5: The aim of the last section Quantitative Aptitude is to test the grasp of elementary concepts in Mathematics and Statistics and their applications as a useful quantitative tool.
Several examples have been illustrated in each chapter to explain different concepts. Thorough CA-CPT preparation should mostly focus on remembering formulas, concepts and properties. Our CA academic experts suggest one way of remembering these is to write them down so that you can glance and memorise them at any time.
Apart from these tips, consistent practice is required in order to score more in CA-CPT. You can practise with CA-CPT mock tests, sample papers and previous year question papers. These will improve your speed, analysing capacity, knowledge about the changing pattern of the question papers and time management skills.
This is the time where you just need to focus on your CA-CPT preparation. Complement your preparation with the study materials and recorded video lectures delivered by the faculty of J.K. Shah Classes available at CAprep18. It is a dedicated platform to prepare you for CA exams and to improve your chances of clearing the exams to become a renowned CA. If you have any doubts, you can view the recorded lectures and clarify your doubts any time. You can always speak with our CA academic experts by posting your queries.
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