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ICWAI | CMA Final Revision Tips

ICWAI | CMA Final Revision Tips

ICWAI | CMA Final Revision Tips:- Institute of Cost & Works Accountants of India (ICWAI) has changed it’s name into The Institute of Cost Accountants of India (ICAI). Also ICWA course has changed into CMA course. There is no difference between ICWAI and CMA. They are two different words used to describe one single thing. ICWAI stands for Institute of Cost and Work Accountant of India whereas CMA stands for Cost management accounting. Apart from the literal meaning there is no difference at all. There are 3 stages in ICWA course i.e., CMA Foundation, Inter and Final.

cma-final-revision-tips

cma-final-revision-tips

ICWAI | CMA Final Revision Tips

If you want to become Cost management accountant, you should complete these three stages. Students who have passed 10+2 are eligible for ICWA Foundation exam. The Institute of Cost Accountants of India conducts ICWAI Foundation exam four times in a year in the months of March, June, September and December. If you passed ICWA Foundation exam,  you are eligible for ICWAI Inter. If you have any graduation degree, you are exempt from ICWAI Foundation exam. You can directly enter into ICWAI Inter.

ICWAI | CMA Final Revision Tips for Numerical Questions

  • Always leave left hand page for showing workings, assumptions and notes. Workings are a must for the answer to be valid and should be fairly elaborate. Present them parallel to the question concerned. Use last page of the booklet for rough work.
  • State necessary assumptions and notes wherever possible rather than wherever you feel essential. It is not a serious error if you write some extra assumptions, than miss some important ones.
  • State currency and draw columns with double lines when time permits.
  • Avoid overwriting. Where they become inevitable, strike off and write again. Clarity is more important than neatness.
  • Do not try to deceive the valuator in any subject. They are likely to be smarter than you, in which case the penalty will be high.
  • Wherever possible, check your answers with control figures to ensure accuracy of your solutions; for example, variance analysis in costing.
  • Apply the rule of rounding off correctly for decimals. The rule is, a digit followed by a figure starting with five and above should be rounded off to the next higher digit.

ICWAI | CMA Final Revision Tips

1) If Time is King, an effective Timetable is Key to Kingly success

At times, students starts revising without making any timetable of what to revise and when to revise. A Lot of Times, it is last few days revision before the exams which puts more pressure on the students.
Always make a timetable for revision well before the exams. A Timetable can include which topics to revise on which dates so that you can thoroughly focus on them. Hence work towards the exams dates with the timetable and then divide time accordingly for all the subjects one by one.

Don’t forget, this timetable can include other events also like Birthdays and other social functions which you might have to attend.

Take Mock Tests or Use Previous Year`s Papers as part of the Timetable revision. So that you get familiar with type of questions which can possibly come.

2) Summary Cards for Your Notes

A Lot of Students take notes and then again make more notes in different notebooks. Eventually Students tend to have 4-5 notebooks of notes on different topics on same subject. Scattered Notes are usually not that helpful.

Making Summary Notes for each of important topics so that brain tends to remember from key portions and tend to focus more on the larger picture.

Always remember, in order to make effective summary notes read through then the entire section of a subject. Then make the summary notes 1 page at a time so that the section in that page is adequately represented. Underline the key points in sections.

3) Visual Maps for the Mind (Mind Maps)

Visual Maps depicting a Tree like some equations are really helpful in remembering complex equations. Entire Process of making Visual Maps is simple. You can co relate and can make Visual Maps for all important subjects.

4) Group Revision

Group Revision has some really good pro`s which includes a joint discussion to understand crucial bits in a subject. In a group while revising you can understand the subject in a easier way that taught at school. At times, the subject gets covered much quicker in a group as division of work can happen to explain and revise the subjects in a group.

However Group Revision is recommended if you are comfortable in revising in a group then it is more beneficial. If you prefer study alone then also it is perfectly fine as long as you are able to revise properly and on time.

5) Managing Stress – Do take Breaks & Have Enough Sleep

At times, students forget to take Breaks and eventually end up in revising for longer stretches of time. Eventually it leads to fatigue and next day of revision gets impacted thereby leading to Stress of not meeting the revision completion. Take breaks at regular intervals of time and ensure that you get lots of sleep. Having Less Sleep could impact your next day revision and could lead to less concentration for further revision. Research has shown that lack of sleep leads to clogging of brain and makes us forget sooner.

Revise in a room that is quiet and you don’t get distracted from outside noises.

Regularly Drinking Green Tea can lead to improved Memory over period of time along with reduced stress levels.

Be Confident before the exams with all the revision you have done.

Lastly, remember revision is a skill that leads to improvement of memory and enhances learning ability of any student.

The above Techniques for revision can be helpful for students looking to improve their revision skills. However if you find 1 Technique to be more effective for your as compared to other one then you can stick to that for more better results.

To conclude, Effective Revision Techniques could project a student to new boundaries of excellence. Practice makes one perfect but effective Revision Techniques put excellence in ones perfectness.

ICWAI | CMA Final Revision Tips

Recommended Read:

ICWAI | CMA Final Free Video Lectureshttps://www.cakart.in/blog/cma-final-free-video-lectures/
ICWAI | CMA Final Noteshttps://www.cakart.in/blog/cma-final-notes/
ICWAI | CMA Final Best Bookshttps://www.cakart.in/blog/cma-final-best-books/
ICWAI | CMA Final Free Bookshttps://www.cakart.in/blog/cma-final-free-books/
ICWAI | CMA Final Revision test papershttps://www.cakart.in/blog/cma-final-revision-test-papers/
ICWAI | CMA Final Study Planhttps://www.cakart.in/blog/cma-final-study-plan/
ICWAI | CMA Final Study Materialhttps://www.cakart.in/blog/cma-final-study-material/
ICWAI | CMA Final Practice Manualhttps://www.cakart.in/blog/cma-final-practice-test-papers/
ICWAI | CMA Final Solved Scannerhttps://www.cakart.in/blog/cma-final-solved-scanner/
ICWAI | CMA Final suggested study planhttps://www.cakart.in/blog/cma-final-suggested-study-plan/
ICWAI | CMA Final suggested answerhttps://www.cakart.in/blog/cma-final-suggested-answers/
ICWAI | CMA Final question paperhttps://www.cakart.in/blog/cma-final-question-papers/
ICWAI | CMA Final mock test paperhttps://www.cakart.in/blog/cma-final-mock-test-papers/

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ICWAI | CMA Final Revision Tips

cma-final-revision-tips

cma-final-revision-tips

At CAKART (www.cakart.in) you will get everything that you need to be successful in your CA CS CMA exam – India’s best faculty video classes (online or in pen drive), most popular books of best authors (ebooks, hard copies), best scanners and all exam related information and notifications. Visit www.cakart.inand chat with our counsellors any time. We are happy to help you make successful in your exams.

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