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How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips:

1.Prioritize Accounts

Accounting is a mark-fetching subject in CA Foundation | CA CPT. In case you have commerce background, you are already acquainted with the fundamentals of Accounts. Try to solve as many problems as you can, covering all the chapters.

If you have no commerce back ground, you need to give more time on studying the theory parts and make clear concept of fundamental accounting principles of ‘debit’ and ‘credit’and learn formats applicable to different accounts, such as journals, cash book, trial balance and final accounts of proprietary accounts, partnership account and company account.

2. Mercantile Law

This is next to Accounts, with regard to fetching marks in the CA Foundation | CA CPT. You should learn various provisions of the Contract Act, Sale of Goods Act, Negotiable Instrument Act, Partnership Act and Law of Torts. Make clear concept of the explanation of certain legal terminologies and their implications. You should also understand the implications of some important cases related to various acts.

3. Economics

In the CA Foundation | CA CPT, this is comparatively, an easier subject and the Macro Economics part of it is more mark-fetching if you have made clear conception in the theory. It is about the study of national economics and of the government policies taken up for affecting the economic performance of a nation.

You will have to make a quick study of various chapters such as business cycles, policy, long-run economic performance, Productivity, consumption, saving and investment. Make your own notes on the important aspects of various chapters.

4. Quantitative Aptitude

This subject may seem little difficult to you if you are not very good at math. But, Statistics will be easier than math.

So, while preparing for your CA Foundation | CA CPT, you can concentrate on Statistics by conceptualizing the theory and work out problems from averages, correlation and regression, differentiation and integration and theoretical distribution.

5.Non-Attempting the Whole

While appearing the CA Foundation | CA CPT, don’t keep in mind that you will attempt the whole 100 questions assigned in the examination paper.

Rather keep in mind that you are to score a minimum of 30% in all the subjects. And if you give a wrong answer, you are losing 0.25 on the whole and a cumulative of wrong answers may drag you down the minimum scoring.

6. Reading Method

Read fast, the first page for five minutes and then read slowly to comprehend the topic clearly. After completion of a chapter in this way, attempt all the questions given in the book and then check the answers given.

Give tick mark on the correct answers which need not be attempted again. Put cross marks on incorrect answers which need to be revised

7. Revision Method

While making the revision, take up those areas where you have answered incorrectly at your first attempt. This process of revision should be repeated till you are fully-versed and correct on a particular chapter.

8. Practice Method

Practice to solve the past year questions and the probable questions for your ensuing CA Foundation | CA CPT. It is here that you may experience difficulties. In that case, join a reputed CA coaching institute.

9. Scheduled Study

Chalk out a well-planned study schedule and adhere to the timings rigidly. In this regard, you can get better guidance if you join a CA coaching institute where you can take up mock tests.

10. Maintain Positivity

All throughout your preparation as well as in your examination maintain complete positivity without having any fear or apprehension about your success in your CA Foundation | CA CPT.

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

6 Most Avoidable Mistakes While Attempting CA Foundation | CA CPT Exams

1. Light Mental Attitude

You should always keep your mind in an examination mode and focus all your mental faculties and physical activities on preparation for the examination. The seriousness that you put on the examination will arouse in you, a self-motivation that will take you a long way in achieving your goal. Avoid procrastination at all times.

2. Lack of or Proper Planning

If you are not properly planning for your preparation, you are deliberately ‘planning to fail’ and God too can’t help you. It is carelessness, lack of seriousness and attitude of procrastination that combined together drag you towards your failure.

When you are planning, you take into consideration, your future action and your organized efforts will make the examination to yield before you. Take your CA Foundation | CA CPT as a ‘war’ and go prepared to the war field, well-armed and with well-thought out strategy.

3. Over-dependence on Self-Study

Self study is the basic requirement for passing the CA Foundation | CA CPT examination. But the common mistake students resort to is that because of their over-confidence, they avoid, going in for an external source. As a result, a substantial amount of time and energy is consumed in conceptualizing the subjects and searching out the probable questions. Guidance is key to success.

4. Ignoring the External Sources

It is expected of a CA Foundation | CA CPT student to go through the study materials provided by ICAI so as to get a clear concept of different subjects and also to know about the type of questions that you have to attempt in your exam.

But the study materials and the RTP and MTP provided by ICAI cannot be so exhaustive as to help you to correctly attend to the MCQs that change from year to year. It is here that you need to go in for some dependable external sources that can be provided by a CA Coaching Institute only.

5. Indulgence in Distracting Elements

Socialization, social media, running after seniors or exam-mates for advice and guidance, indulgence in watching TV or movies, unwanted talks and discussions are the weeds in your garden of your CA Foundation | CA CPT.

Root them out and apply such saved times on your preparation. In addition to these external weeds, you create some by yourself; in the shape of depression, phobias, apprehension, fear, frustration and tension. Put a “No Entry” sign board for them. Meditation, yoga and pranayam will help you a lot in achieving good results in this respect.

6. Lack of prioritization

Sometimes, students become negligent in attending their coaching classes which may be due to shear carelessness or due to giving priority to other unimportant work like social engagement.

It may be also due to irrational thought; “let it go, I’ll relax today”. Once given the scope, such negligence may become habitual. So, you must start your serious and full-fledged study right from ‘day one’, after you have registered with ICAI for your CA Foundation | CA CPT examination.

Just like the negative marking of 0.25 for wrong answers in CA Foundation | CA CPT, you will be losing from the probability factor of success in your CA Foundation | CA CPT for every ‘don’t’ point you resort to.

So, just as you give importance to the do’ points for success, you should give equal importance to the likely mistakes that you may resort to; either inadvertently or deliberately.

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

Chartered Accountancy (CA) is one of the most dignified and enviable profession and obviously is one of the toughest ones. In order to become a qualified Chartered Accountant, you have to clear three stages of examinations conducted by the Institute of Chartered Accountants of India (ICAI), New Delhi.

  • The first stage is Common Proficiency Test (CPT)
  • The second stage is Integrated Professional Competency Course (IPCC)
  • The third stage is CA Final where you have to undergo 6 months of article training.

There are two ways by which you can qualify yourself as a Chartered Accountant

  1. Self-Study
  2. Studying in a good CA Coaching institute

Self-study has the advantage that it builds self-confidence but you may take considerable time for finding out important points in theory papers such as taxation. At the same time, just by depending upon the study materials, you may miss to know about the pattern of problem-oriented questions.

In case you aspire to have better ranking and not just to have a pass mark, you may consider the second option. The following points show how a CA Coaching Center can help you to rank better in your CA examinations.

1. Compatible Study Environment

In an environment of qualitative students and faculties, you can have a better motivation and a competitive spirit for getting a good rank. With the external stimuli acquired from your faculties and seniors, your determination and will power will be augmented considerably and your inner potentialities will be fully manifested.

2. All Subjects Under One Roof

The CA course is extremely diversified and in order to facilitate learning all subjects, the Coaching Institutes retain the services of faculties from different professions such as Chartered Accountants, Cost Accountants, Law Practitioners and Senior Executives from Corporate sectors.

3. Enrichment of Learning Skill

Besides your own aspiration to rank better, the CA Coaching Institute too target at enriching the skills of students by maintaining an optimum standard of professional learning. The rankings of students add to the reputation of the institute.

4. Comprehensive Course Materials

The Coaching Institute makes its own study materials on the basis of study materials provided by ICAI and by prolific briefing of all the subjects that may be challenging for an individual student. These study materials are prepared under the guidance of qualified Chartered Accountants. Probable questions, synopsis assignments and answers are made on the basis of past questions. Added to the study materials, the periodical assessment sheets enable you to have a good command over different subjects. You become more methodical and practical in your approach.

5. Versatile Teaching Methods

Coaching Institutes adopt the latest methodologies of teaching such as Regular Lecture Methodology, Group discussions, Effective Brainstorming, Online learning, Specific Assignments, Personality Development, Seminars, Case Studies, Presentation of Complex topics, Doubt Clearance, and Knowledge of business strategies.

6. Tricks & Tips of Problem Solving

The qualified and experienced faculties provide various tricks and tips and easier steps for solving problems on different subjects.

7. Self-Assessment through Mock Tests

You will be subjected to an examination environment for a three hour test on different subject. Such mock tests enable you to assess yourself to know your weak points and to take corrective measures on the related topics. You are also enabled to learn to deal with tricky questions and acclimatize yourself with time management for preparation as well as in the examination. With the sample question papers given by the institute, you can evaluate and rectify yourself at home.

Kindly Note: Vidya Sagar Institute Conducts Regular Mock Test Papers to Increase the Confidence of Students and Prepare them better for final CA Exams.

8. Revision & Recapitulation Sessions

The institutes conduct periodical sessions for revision and recapitulation on different subjects that rejuvenate your memory.

9. Web & Library Support

You can have access to the internet, video archives and well-equipped library for reference and advanced studies.

10. One-To-One Attention

The faculties give time for individual students for clarifying doubts and for providing specific guidance on related subjects.

 How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

Recommended read:

CA Scholarship for CA Students

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

How to Prepare CA Foundation | CA CPT Mercantile Law in 30 Days Tips

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