Why I Decided to Self- Study for CA Finals...with No Coaching?
Sharing the journey of Lekhanshu Bawne from Bhopal who took up the challenge of going in for Self - Study for CA Final.
He scored 82 marks in SFM (CA Final) through self-study.
I started my academic journey from Multai, District Betul of Madhya Pradesh till 10th grade. I secured a place in district merit in class 10th. On the basis of the above percentile, I got selected for the very first batch of the Super-50 scheme governed by the Government of Madhya Pradesh in the stream of Commerce.
Super 50 scheme by Govt of Madhya Pradesh
Let me share a little more about the Super-50 scheme. It's a scheme started by the Government of Madhya Pradesh in the academic year 2011-12 for which offers 3 merit holders of each district of Madhya Pradesh to come and join Subhash School for Excellence, Bhopal, Madhya Pradesh for the class of 11th and 12th.
The scheme offers free of cost education along with accommodation and food for 150 students (Maths, science, commerce stream 50 students each). The main purpose of the scheme was to provide free of cost education for competitive exams like IIT-JEE, AIPMT, CA-CPT along 11th and 12th with reputed coaching institutes.
From here my real academic journey started.
It was the 1st time that I stayed in a big city like Bhopal. I was very nervous, shy and fearful. For the first time, I met state merit holders in the super-50.
Among them, I was a very average student as I got only 89% and most of them are like above 93%. But that did not allow me to get demotivated.
I had decided - If They Can So Can I. So I doubled my efforts right from the start. After 2 years of hard work, dedication and support the time had come - It was the day of our 12th Board result. I was The State Topper Of Madhya Pradesh (MP) in The Commerce Stream with 94%.
I just want to say that nothing is impossible if we BELIEVE IN OURSELF.
My CA Journey
From class 11, I had set my mind to be a CA one day. After the 12th results, I cleared my CA-CPT (June 2013) and IPCC (May 2014) exams in the very 1st attempt. I joined a renowned CA Firm in Bhopal for my articles. I spent most of my time on outstation audits within MP. As I love to travel I was super happy.
I visited so many famous tourist places in MP during my audit trips like Khajuraho, Gwalior Fort, Bhedaghat, Patalkot, Ujjain Mahakal, Amarkantak, Bandhavgarh, Bansagar Dam, Bavangaja and many more interesting places. After the very first year of articles, many big clients were handed over to me as my seniors went on leave.
The Reason I chose To Self-Study CA Final
- Articleship and attending classes would get difficult. I would have been under constant pressure to attend class. This gave me the liberty to travel for audits and explore different places.
- Also from my previous experience, CA Studies ultimately boils down to Self-Study.
- During IPCC I experienced that the coaching institutes are not efficient enough to increase our knowledge, they only guide us from the exam point of view by sharing limited things.
- Also, we get so dependent on them. So I decided to drop coaching for IPCC 3 months before my exams. Some of the guidance was useful but after that, I studied all the subjects again by myself from The ICAI's materials. Only then I got the confidence for the exams. I cleared IPCC in the 1st attempt as mentioned.
- I'm not blaming any coaching class but as per the idea of The ICAI, it is like a distance learning process where we should study all these subjects during our articles and try to apply them while working.
- The coaching classes only guide us, we should not rely wholly on classes to pass CA exams. I had set my mind that it will be okay if I clear CA Final in 2 - 3 attempts but I'll do it by myself through self-study.
Here is How My CA Final Exam
- CA Final 1st attempt - Failed. Had given only Group 1 in May'17. It was my CA Final 1st attempt and my 1st failure ever. As said - Failure is not the end but it's just an experience for the success.
- CA Final 2nd attempt - Cleared Group 1 with 82 marks in SFM and failed Group 2. I doubled my efforts this attempt. (HOW DID I STUDY SFM? For the concepts, I referred ICAI study material and some reference books. And for practice, I referred ICAI study material, Practice Manual (PM), RTP, and past minimum 6 attempts examination papers. It was purely self-study)
- CA Final 3rd attempt - Appearing this May'18.
- CA Final 4th attempt- Cleared
For Those Who Decide To Go For Self-Study, I suggest the following
- Start your CA Final preparation from the very first day after clearing IPCC unlike me.
- Get the books read a little here and there may be an hour or so daily to understand the concepts. While working we always have our seniors who can guide us if we need to understand concepts.
- I realized that had I started studying on time I would clear my CA Final in the 1st attempt. That was the biggest mistake I made, but keeping that mistake in mind I planned my future actions accordingly.
- Do give Mock Papers for practice. However, do not get demotivated by the results of the same.
- CA is not an exam it's a Destiny, so keep going.
- Start believing in yourself and nothing is impossible in front of our dreams, dedication and hard work - he concluded.
He could be reached at email@example.comfirstname.lastname@example.org
The Finance Story is now on Telegram. Click here to join our channel and get updates with latest stories of finance professionals.