Know the challenges faced by CA students


It is generally known that CA students face a lot of challenges and hardships during their course. Besides, clearing all the papers in the first chance is also challenging for a good number of students. However, to over overcome the challenges you face in CA exam, you need to consider a few things that can decide your career as an accounting professional.

The thought of writing an article based on the challenges faced by CA students started with a question by a student who is pursuing her Chartered Accountancy course in a CA Institute in Kerala, "Do you know the challenges faced by a CA Student?"

Yes, clearing all levels of CA in the first attempt is nothing but the result of hard work. But the real problem is that a handful of students lose in their first shot. If you are planning to go for CA course after your higher secondary education, you must know the challenges you have to face right from the start up to the end.
The vast syllabus, duration of the course and lack of in-depth knowledge are some of the numerous challenges faced by CA students in completing this course successfully.

Anyway, it doesn't matter how long you took to pass the CA course; once you complete the course, you are a certified chartered accountant and nobody is going to ask you about the number of attempts you took to become a CA.

Clearing the Entrance

CA Foundation is the new entrance test in Chartered Accountancy course, which has replaced the earlier Common Proficiency Test (CPT). The syllabus of CA Foundation is divided into four parts, two of which are subjective based and the other two is objective oriented with 400 marks. The CA Foundation test analyses the basic knowledge you gained in your senior secondary classes and the result usually lies between 30%-35%. However, if you think passing the exam is very effortless, it's not that simple; Because for passing CA Foundation, you need a strong knowledge base of the accountancy you studied in your senior secondary class.

More Content Less Information

The study materials and course content for CA students are extremely vast than you assume and most of these contents won't be used by many students. You will get plenty of information online with just a few mouse clicks and you need not be an expert to get specific information for a particular subject. So content is not an issue; but, what you need is the practical explanation of the content. Also, it would be better if the CA course includes training on presentation skills and interpersonal communication, in addition to giving more focus on facts and practical sessions.

CA Intermediate

The second stage of CA course is CA Intermediate, in which the students find it difficult to pass in the first attempt. The working knowledge of core subjects to accountancy profession is covered in this level and it involves eight papers. Clearing these 8 papers is really challenging for most of the students. Students need to study at least 12 to 15 hours a day, avoiding all the distractions to clear this exam. The best option suggested for students is to use practice manual, once they complete studying the major modules.

Articleship Training

After completing the CA Intermediate, a CA Student has to undergo 3 years of articleship training under a Chartered Accountant in practice. This is the time when the students get into the practical world of chartered accountancy. Most often, the students find it difficult to learn during the articleship training. The training difficulties will depend on the chartered account you work under. The performance of the student will be evaluated during this period. A well-trained schedule and learning program are also needed to finish the training successfully. It is said that the more you toil during the training, the less you will struggle after becoming CA.

Absence of Industry Training

The CA curriculum in India doesn't give much importance to industry training. Hence, the students don't get a good exposure to the skills they require to work in an industry or business. If you are particular of pursuing a career in tax or audit sector, then it's okay. But for students entering into industry jobs, lack of proper training will definitely get them to struggle a lot in the initial phase.

CA Final- the Greatest Challenge

After a lot of hard work and struggles during the articleship training, students will have to face the greatest challenge- that is the CA Final, where all their 5 years of investment will be evaluated. It will test the knowledge students gained during the practical work exposure and their knowledge in Finance, Corporate and Economic Laws, Strategic Cost Management, Direct Tax Laws & Internal Taxation and many other areas. As the results of CA Final usually stands below 10 percent, about 80% of the students fail to clear the exam in their first attempt.

The major reason behind the greater failure percentage is that it is hardly possible to cover the entire syllabus of CA Final in a study leave of just 6 months. Also, the students lose the focus on their studies during articleship. The 3 years of articleship training deviates most of the students from their studies and they get more interested in work rather than studies. Hence, it is advisable to regular with your studies even during the articleship and to work hard until you reach the goal.

How to Overcome the Challenges

CA is a well-esteemed course, which receives great respect both in the corporate world as well as in the society. It is expected that a Chartered Accountant should have strong knowledge of accounting standards, taxation, legal regulations, markets and corporate finance. If you have a good base in finance and accounting, you are the right person to pursue this course. It is definite that with great determination and hard work you can pass the CA Finals with flying colors.

To overcome the challenges in CA learning, you need to

  • Deal with the distractions
  • Don't leave questions unanswered
  • Plan properly and manage your time judiciously
  • Prepare a study plan or study calendar
  • Wise selection of study materials
  • Proper self-assessment and analysis
  • Try to solve practical problems
  • Proper analysis of mistakes
  • Do what works best for you
  • Always remember your goal


So, if you have decided to pursue CA course after your senior secondary education, choose the best institute to get the quality education. Only a handful of institutes in India offer superior quality CA coaching to students. Kerala is one of the best destinations in India to pursue CA course with exemplary tutors and better amenities. If you are looking for the best CA Institute in Kerala it's definite that your searches will end up in Logic School of Management, one of the best CA coaching centres in Cochin, Kottayam, Calicut and Trivandrum. For more information log on to www.logiccpacma.com and get a clear understanding of the CA exam a tough nut to crack.


Comments

Author: neeru bhatt01 Aug 2018 Member Level: Gold   Points : 3

Very detailed and exhaustive article guiding the CA aspirants on the right path. The author has been able to bring out the challenges as well as methods to tackle them.

For that matter, any long course is equally challenging and what is basically required is a sustained hard work along with a focused approach to reach the goal.

So fundamentally, it comes down to working hard in a precise and proper way to get the envisaged results.

The aspirants must remember that though there is no one to one correspondence between the efforts and the results but the hard work and continuous efforts are significantly reflected in the outcome.

Author: dipti04 Aug 2018 Member Level: Silver   Points : 3

Now I understand why my two cousins are struggling with their CA exams for almost the past 5 years. They have both failed at least 3 times in one or the other paper. Kudos to them and all other students who are toiling hard to get through.
I have always noticed how 90% or more of the Commerce students opt for CA coaching in the FYBCom along with college and drop out after their first attempt at the exams.
CA is a test of patience and hard work and the rewards are glorious. But I would wish that students don't treat this choice as a herd mentality and be firm in their decision once they decide to pursue CA.
This article is a ready reckoner to the tough times ahead of those who choose to walk on the path to CA.



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