My Journey Becoming a Chartered Accountant and Lessons Learned On The Way

The Finance Story

Correctly said that Success is a journeynot a destination.

In today's article, we have Priyank Somani sharing with us his journey becoming a Chartered Accountant and how CA made him a better & stronger person.

Priyank is a qualified Chartered Accountant from ICAI (The Institute of Chartered Accountants of India).

Presently he is an Analyst with OYO, India.

My Journey Becoming a Chartered Accountant

I was inspired at the age of 12 to be a Chartered Accountant by my cousin.

For me CA was not a degree, it was my life, my dream. My journey becoming a CA was full of ups and downs with great lessons learned on the way.

In this article, I share my journey all through:

  • Living in a Hostel
  • Handling Office Politics
  • Overcoming Fear of asking questions in a class of 1000
  • And how failing CA Final Examinations changed my life for the better.

I also have my Youtube Classes where I share videos for free benefiting so many students.

Here is my story:

To be a Chartered Accountant from ICAI, one needs to clear 3 levels of exams:

  • CPT: First level. You have to give this exam if you register for the CA course before graduating. Since I enrolled for CA after class 12, I had to give CPT.
  • IPCC: Second level exam. This consists of 2 groups – Group 1 & 2. Each group has 3/4 subjects.
  • CA Final: Last level of CA exam and has again 2 group – Group 1 & 2. Each group has 3/4 subjects
  • 3 years of articleship training: This starts after you clear IPCC, either both groups or anyone of them.

CA CPT Exams

Let’s start from CA CPT exams (1st level CA Exam).

Life was good then, no tensions, no distractions.

I cleared CPT in the 1st attempt.," says CA Priyank Somani, 23, who

Moving to a new city and Clearing IPCC Exams

Now comes CA-IPCC exams. This is the second level CA exam consisting of 2 groups, Group 1 & Group 2.

In order to pursue CA IPCC, I moved to a bigger city, Delhi (India) with a friend.

It was the first time for me that I stayed away from home and especially mom. It was fun in the beginning but later on, it got difficult. I started feeling homesick.

It was at this time that I learned to live away from home and that was a big accomplishment. I became stronger emotionally and a little more responsible.

Living away from my family made me realize their importance, I began to value my family way more.

Away from home meant staying in a hostel.

When I first started staying in a hostel, it was a big concern to adjust in a small room with the other person. His thoughts, your thoughts are different. You also aspire to become his good friend.

Fights, differences of opinion, expense bearing capacity, household chores and certain other things which keep both of you on different tracks. It was this time I literally learned a lot.

I became a better human in those 8 months. 'Be like water, adjust like water'. In fact, I was able to make him my best friend.

Also, the coaching class in Delhi that I joined had a batch size of approx 1000 students or probably more.

Now I was shy, so asking doubts got difficult. You lose your identity in such a huge crowd.

You want to answer questions in class, but you don't, thinking of the huge crowd and if anyone makes fun of us.

My biggest learning:- 'Jisne ki sharam, uske foote karam' (which roughly means he who hesitates is lost). I learned NOT TO hesitate anymore.

Now I don't care what the other person thinks about me. I answer questions, ask questions, put my doubts across, no matter how huge and how intelligent is the crowd. It made me way more confident.

In the meanwhile, I gave my best and cleared IPCC Exams. 

Articleship Journey

Then came articleship and my prep for CA Final Exams.

Getting a place to do articleship proved to be a big task for me. I asked help from several people but no one helped. I was really upset and lost. I knew I had to find my own path.

Finally, I started my articleship in a well-renowned firm with the help of someone. This has taught me to help others and be grateful.

The most difficult phase of my articleship was 'Office Politics'.

I am a very simple person. I do not think much before speaking. That led to a lot of problems during my articleship.

I had to face a lot of politics. However, if you are good at your work and give your best, you will always 'SHINE'. I learned to give in my best and ignore the rest. It again made me a stronger human at a very young age.

CA Final Journey

Then came the much anticipated CA Final exams.

I cleared my Group 2 in the 1st attempt but got stuck in Group - 1. I took 2 attempts to clear Group 1. It was tough on me, studying the same thing again.

However, when I think of it, I have to admit I did not give my best.

When I gave my best I did clear (I literally studied the entire night, covered everything, understood every concept and kept an optimistic attitude).

My Life Qualifying as a Chartered Accountant

In Conclusion...

  • CA makes one Strong
  • It trains you to deal with Failure, Criticism, and Success
  • CA forces you to give your best and bring out your best
  • CA makes you Patient

Now It's Your Turn...

The CA Journey taught me A LOT.

What did your journey teach you?

Would love to know your thoughts in the comment section below.

If anyone needs guidance on CA studies please feel free to contact me on FB CA Priyank Somani / Linkedin - Priyank Somani.

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