hey everyone and welcome to this episode of Chad Chad a few months ago we did an episode called how to become a CA which
you are liked viewed and came back with
a lot of questions and in order to
answer those questions we have today
invited with us CA needle gun girl who’s
been a practicing CA for the past four
years he cleared his C exams in the
first attempt he also had the first rank
in his become finally ur in accounting
and finance and he’s been grooming
training and guiding students at HR
college for the past seven or eight
years as a visiting faculty so let me
invite me onto the show today I need oh
thank you so much for being with us
thank you grateful that you invited me
here you know I understand because the
GST and before that with D monetization
I know you’re really busy these days I
really need to thank you to take all
that time to come and spend with us but
some of the questions they asked and I
sort of bring them up one by one the
first question they want to know what
other the big question they want to know
is about preparing for these exams now
when should they start like you know
intent when should they start how much
time does it take to prepare for them
okay so to come to this when should they
start so you can start for the your see
a foundation course which is now called
as when you have completed your 12 or
you can start in the last year of your
twist out is like that okay so you can
start at that time okay many people
start after dy okay so after t wives
they start then they can directly go to
the second level that is the
intermediate course okay that is how
people do I had done it after my TV so
this is the third year of your week
become okay okay but you’re saying they
can actually start while you’re still in
school when the 12th standard answer is
yes school or junior school or junior
college they can start at that time okay
you have to put in a lot of effort yeah
so for a final typically you’ll need to
three months of 20 to 15 hours of
studies okay and diet is for your first
study there are eight subjects right so
you at least need
per subject okay so that’s how 18 days
of 10 12 to 15 hours of study is what
you need okay you need a month to revise
all the eight subjects once again and in
that period generally people put in 15
to 16 hours of study so it is
time-consuming a lot of hard work right
but this also trains you for the future
like when we go into the industry we
feel that what hard work we had put for
1516 as it now helps us and there are
large changes we have to put in 15 16
years of work yes it helps a lot yeah so
tell me you clear these exams in your
first attempt and you never took any
coaching so one of the big things people
do is they straightaway want to enroll
for a coaching and they fear that if
they don’t do it they won’t be able to
do well so could you guide them on this
so coaching is something which is very
very personal to decide but I would say
mostly 90 to 95 percent of students
would need coaching okay
would need coaching I would say because
and it is a must
there are two three points when you see
at poaching first point is that coaching
thus create a base level for you and it
helps you to study at least six seven
months prior so that so the final
studies may start later but this helps
you to at least get into the subjects
because there are no other things like
late in the college right so that is why
coaching is important second most
important thing in coaching is that you
get norms which I think the syllabus is
so huge that preparing notes is very
very important right and third and I
think in which people will not realize
when they are doing coaching is that you
will develop a lot of network of your
peers hmm and this network will help you
five years ten years down the line
whether we are in job or industry or
practice wherever you are right
so this is I feel that coaching in that
sense is very very important hmm okay
but you still can do it like you have
without coaching provided you are good
at understanding the practical stuff on
your own so if you are good at accounts
because theory
I think coaching classes don’t teach
much right so they may do give you notes
and everything but there is not much
that anyone can teach in here
it will be explained to you you
understand better but ultimately you
will have to read through it right but
practical things are where if you can
manage those parts on your roll then I
think you can do it okay now they are
planning this study period that they’ve
put out for themselves so would you like
to share some tips and experience with
with them on that this is a very very
common question that how should we plan
for the study or is planning important I
think many students fail on planning for
their studies for actual studies they do
fine in the study how to go about it is
when they people fail
sure so planning is very very important
planning is involved at various stages I
would say you have to plan your studies
itself you have to plan the choice of
books that you take okay you have to
plan your exam time revision right you
have to plan how to write a paper it
says I I will touch upon first how to
plan the studies right first you need to
capitalize on your strengths okay
because that is most important that is
where you can get the most marks so you
have to aim for exemptions that is 60
marks plus in those exams which are your
strengths right and then you have to
walk towards your weaknesses even say
for example theory was a weakness for me
okay but I still work towards it and I
have got at least three exemptions out
of five papers of sharing excellent so
you have to work towards your weaknesses
as well okay not your CA exam if you
don’t know all the papers right so if I
have decided that I will study accounts
first whatever you have time so in each
paper you then need to go into the depth
of seeing the first five ten papers as
it year 5 10 5 years to 10 years papers
okay so you plan in the past 10 years
which topics carry more weight so that
is how you will know what topics I need
to focus on right in that topic what are
the time the resistance of questions
range however very good betas right so
those kind of questions you have to
identify thought I would say is the
practice manuals and compilations which
the Institute’s
material which gives you answers of the
first question okay you also need to go
through that the reason is what kind of
exactly that is also very very important
to see because initiative expects you to
write this much if you have done from
some book which doesn’t give that much
material then it will not help right
right or if you have done too much
exactly
there you are confused what to write
what not to write when you actually see
the question after that you a lot time
that I am going to complete this topic
in so many days or so much so many ads
and exact you go ahead and find a whole
study path oh okay so you actually
probably need a whole spreadsheet to be
made breaking down each topic agreed I
would say spreadsheet is needed but I
used to do it mentally but there are
nice there are people who actually write
it down and they have that plan written
on their softball Wow I know they are
there to that right so I think most
bankers would have done that okay so
that’s that your thing is a key sort of
factor that baby success another thing
you mentioned was the second point you
mentioned was planning the study
material and you did say that the
coaching Institute’s give you some study
material but could you share with them
what sort of material okay so now study
material is divided into two parts one
of the Institute which most of the
people say that you should read through
that and second is of various authors
and your coaching I would put all that
in the second part right so now if you
choose study material of the Institute
only if you are able to make parents out
of it because it is just reading kind of
material okay hooray for a topic all the
reading but will not have a question to
that topic okay so you have to be good
at making notes I will share an
experience in this so I used to use
Manish Bhandari law for CA final
it had two books one was a handbook and
one was a main book which was around
thousand pages and handbook was around
for four hundred pages so I studied
through the big book in some 10-15 days
I would have finished that the whole
book but after two three months when I
started my revision I realize I don’t
recollect anything oh okay to the
question is I don’t recall it because it
was so huge that it was difficult for me
to reconnect
I had to switch over to the book to the
handbook at the time of revision and
again study it
I would have done so that’s our choice
of thermite together is very very
important even passes provides notes but
for theory subjects I have not found
that means I’m not done classes but my
friends also told me that not much nodes
are there for theories Theory subjects
okay so practical subjects yeah
definitely you look to classes notes
only I don’t see any other books people
refer to is there any other material
that you have used and liked and that
you would like to recommend in this
forum to them yes so like for accounts
and there is FM and costing we generally
used the classes notes along with
practice menus and study material of the
Institute we used to go through only
practical problems okay for audit I had
used I don’t recollect the name but
should be by themselves was the second
reference book the first book I don’t
recollect what I do okay for law I had
used Mohnish Bhandari for costing I had
used a reference book of palooka it had
a lot of questions which helped me
during the exam visca be used they
weren’t done but currently managed data
is recommended more okay we have dtdt we
use BJ Botha and for IDT we use mangas
okay
now looking at the exam time revision
which you said you know prior to the
exam I need to plan my revision as well
so what are the tips you want to give on
that
okay so exam time revision is typically
so you get one and a half days to study
the entire subject so one and a half
days earlier you didn’t get that also so
one and half days is a good time to
revise liability in that if you would
have done your planning correctly you
would know that around 50% to 60% of the
subjects or topics in a particular
subject over 80 to 90% of a tidge of
your maths
okay so you have to complete that very
fast because you would have done that
well also because you know my 8090
percent marks are coming out of it in
one day you want to complete that 60 70
percent of the portion balance half day
you can use to complete the balance
thirty forty percent but most important
thing in this is that before the exam at
least two to three hours if not nor I
used to spend three to four eyes only
revising once again just glancing
through everything which is important
okay because that large helps me
to recall whatever I have seen hmm
so when you say glance through
everything you glance through your own
notes or you glance through the
textbooks all notes are the most
important thing if you have prepared but
what I used to do is that I used to mock
out in a particular topic these are the
things that I need to dance to now so I
used to go through those pages and read
guys who those okay so that’s
interesting you think when you’re
preparing itself at that time you
highlight that on the last day I’m going
to study this page number 230 or
whatever it’s yeah yeah it is mapped out
it is very well let’s talk about the
preparation once again you said three
and a half to four months is what they
need but should they do it all at one go
twelve to fifteen hours a day for three
and a half to four months you think they
should do it all together or should they
take breaks in the middle so I think if
anyone does that would be sure to get
burned out by the time of the exams
would be very high so according to me
breaks are very very important so like I
used to call them cheat days once a week
or twice a week I used to go out with my
friends and family at least three four
other day
just to refresh rejuvenate myself for
the next week and by one business plan
before the exam was that I used to
always take a day off nice so two days
prior to the exam I would take a full
day off and I would just relax watch
movie go out go to the cell or get
myself fresh everything for the next
fifteen sixteen days okay in fact during
the exam I had two days break for a
particular paper so to catch up on my
sleep because it is only five six hours
that you sleep during the exam I slap a
slip for one day for almost 24 my sleep
so that I can give the other four papers
with nice nice so breaks are crucial to
very very good care let’s talk about
actually strategizing for the paper and
making plans and how you’re going to
write that exam so I think this is the
most important thing we’re eating more
than 90% student spam this is what I
hate from my friends and cutting edge
type they have left 10 15 20 marks of a
paper in each and every paper of see
okay what is important is that if I put
it in percentage terms you have to score
60 to 65 percent of the marks right and
to do that even a 50th ranked on India
doesn’t score 65 percent okay okay so it
is very very important that you
strategize how to write a paper
according to me once you are doing your
second revision that is the three days
revision which I spoke about earlier
after that you need to write at each one
two or three papers practice paper so
fast papers papers practice papers there
are a lot of papers available even if
you have done classes classes give paper
sign it is typically makers to
strategize that and you have to a lot
time to each and every question once
that time is over maybe to five minutes
you can give extra but you have to move
on to the next question okay because
writing one point you will not get you
that much marks I’m missing out an
entire question yes
so you think as soon as they sit they
should actually divide the number of
marks and divide the number of so the
tile girls before only at the start only
I plan that this is how the 100 marks
paper is there is 20 marks one question
16 max my question okay so I will a lot
this much time around 40 minutes to the
20 marks question and then 20 20 minutes
each so that is how it was planned long
before didn’t see a I don’t know the
currents in area but when I was there we
used to get 15 minutes prior the papers
used to come to us 15 minutes prior to
see reading time of reading time yeah so
you can plan the paper hmm and in that
also one more important thing is that if
you know the third question base you
should start with that okay if you know
fifth after that after so you go to five
okay usually it is not necessary that
you go in high order right so work on
your strengths like you would say linear
you capitalize on your strengths do
those questions quickly so you have more
time left you to score more much also
because the examiner thinks he knows
more correct by the time he’s checking
and it may have oh yeah no no first
impressions are very important and
talking about first impressions there’s
this idea that the way you present your
paper is also very important even more
than sometimes what you write it it is
that true I think this is a total myth
okay it’s a total myth that you need to
do it so I’ll divide
the presentations into two parts one is
legible handwriting and second is
drawing lines proper accounts writing
slowly so that it looks neat and all of
that if you are going to do the second
part you are sure to lose out on 15
months of your paper oh because I see a
exam doesn’t give you time to do that so
the most important thing is that it
should be legible you have to write to
the point I have seen many not on
presentation but I’ve seen many students
who write round the bush with a man they
know only two points okay so you can’t
make the answers lengthy just by going
if you don’t know you write a half page
answer for a pie my question is more
than enough okay so if you know the wise
write that it’s over okay okay so that’s
talking about there’s another question
that they want to know sometimes is what
is the cost of this whole program the
coaching and so through to two and a
half lakhs to three tax it could go okay
that is the coaching and the CA cost
okay approximate okay and if you break
that up
so one dike is ninety thousand to one
legacy a final coaching classes fee
right around 70 80 thousand could be the
intermediate fee thirty thousand could
be the CPD fees foundation course I am
not aware currently I don’t know the
current rates but these are more or less
their current and the Institute total
cost is very less I think green I would
have spent around thirty forty thousand
as the total Institute cost okay okay so
talking about this foundation course
what you said which was earlier called
the cpt one of the questions are they
asking means if they’ve done they’re
become do they need to sit for this so
chickity or foundation is not needed to
be sad to if you have done become in
fact when you are in your bastion of
become you can apply for the
intermediate level of exams so don’t
even need to clear and then apply oh but
you can sit only after you have cleared
the final a that is and everything you
can plan yeah and another question I’m
thinking off on their behalf is that do
they have to do a be calm or can they do
any other degree like a BBA or something
else’s so CA itself doesn’t give any
soft skills become I think most people
will just go for enjoyment or they don’t
retain
or this is the general train so you need
to have courses like BF d bi b FM BM s
VBA which gives you those soft skills
which will help you to go do better only
or CA right so these courses are more
relevant they were only doing or because
okay excellent and my last question to
you would be on the future so having
done your ca is there like a CFA do you
recommend any other courses they should
do what should they can they work abroad
can they work in India so so I will deal
with the second part first whether they
what are the options for the right will
divided into poor finance and general
accounting and financial management for
finance would be investment banking
asset management planning and
strategizing corporate banking these are
the main things in core finance right
second if you want to do in general
accounting and financial management then
you have audit law tax then you have
consultancy strategic consultancy so cfa
would be important if you want to go
into research of stock markets okay or
something like that so it’s a beautiful
course to do it will help you if you are
thinking of going into Investment
Banking and all of those I think an MBA
would be a I had all to you I’m not
saying CA would be less right but MBA
would be add-on because it will improve
your soft skills much further right so
help you to grow faster right and as far
as abroad if you want to know the
opportunities abroad
I think CA Institute has types with most
of the countries now I know many of my
friends who are in Dubai what is earning
your fifteen thousand a month but in
Dubai is earning three like someone
excellent at the same time with the same
qualification same qualification and
it’s not like they need to go there and
take an additional degree of so this
Middle East not but maybe in some
countries like us and all of that you
may need okay but thank you so much
needed I thought it was excellent and
I’m sure it will help them so thank you
for being with us and if you have any
further questions that you want needle
to answer or me to answer put all of
them down in the comment section at the
bottom of this video and don’t forget to
press that subscribe button and the bell
next to the subscribe button to get you
notifications like us at Facebook at
church ah
at Twitter chitchat 101 and Instagram
chitchat 101 and happy watching