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CA Foundation Classes

MCC is the most recognized CA Foundation coaching and CA CPT coaching with record 456 selections. Enroll Today with MCC CA Foundation Classes.

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5 Tips on Studying for CA Foundation Exams

CA Foundation is the first step for entering in the CA course. For appearing in the exam of CA Foundation you should be 12th appeared from a certified board. Earlier, this exam conducted by ICAI, was called CPT and it was completely objective. But from 2018, ICAI has made some changes in the exam pattern of CA Foundation. Now 2 papers of CA Foundation are subjective while the other two 2 are objective. You will find success in this examination only when you’ll put in a lot of hard work. You will have to dedicate almost all of your time in the preparation of this examination. If you think that by studying for a few days before the exams will get you good marks in the CA Foundation exams, then you are wrong dear. It doesn’t work like that. Today in this article we are going to share some useful tips with you that will surely help you in your preparation for the exams and hence lead to a positive result.

1) Make a proper timetable - It is very important before beginning the preparation of any examination to make a proper timetable. Divide your time before the exam in a way that it covers all the four subjects and there’s still time left for revision of each and every subject. Don’t make a timetable that you can’t follow rather make a realistic timetable that you can follow positively. To achieve success proper planning is a must. By following a timetable, you will find yourself more organised. You will also be able to determine your weak points and strong points and then you can work accordingly too.

2) Join a coaching for CA Foundation – If you think that you can achieve success in the CA Foundation examinations by self-studying, then great. But we highly recommend joining a coaching institute for the preparation of your CA Foundation exams. Many students pass this CA Foundation exam by self-studying but they merely score passing marks. Keep in mind that the duration of the CA Course is very long and for this it is very important that you have your basic concepts clear. You can join a good CA Coaching institute like ours, i.e. Mittal Commerce Classes where you get in depth knowledge of each and every subject by our highly qualified faculties. With proper guidance and training you can clear all the examinations in one go.

3) Make a good command on Calculator – The two most important subjects of CA Foundation exam are Accounting and Mathematics Statistics & Reasoning. Both of these subjects involve doing long calculations. And for doing these long calculations it is very important that you have a good command on your calculator. You should also learn all the short keys in a calculator. That will help you even more. Not only will it help saving you a lot of your time in the examinations but will also give you extra time to double check on the questions that you solved earlier.

4) Start practicing in writing – Now that the CA Foundation examination conducted by ICAI are also held in a subjective manner it is very important that you start practicing in writing as well. Since you get a limited amount of time in your CA Foundation examination it is very crucial that you have a good writing speed so that you don’t miss out on any questions in the examination hall. Having a good writing speed will help you save time in the exam and also help you to double check the questions that you have attempted. Let’s be honest a little extra time hurt nobody.

5) Solve Mock Test Papers – Solving mock test papers give you an idea of how the real examination paper is going to be. By solving more and more mock test papers you also learn how to manage time in the examination. Time management is a crucial factor for achieving success in any form of examination. If you know all the answers to the questions in the exam but you are not able to solve them on time, then they are of no use to you. What you can do to improve your time management skills is set a timer to the time duration of the actual CA Foundation exam and then start solving mock test papers. This way you also feel the pressure of the running time and it gives you more and more practice of solving a question paper within a limited time frame.

If you keep all these points in mind and follow them religiously, then you are surely achieve success in your CA Foundation exam and pass with flying colours.  

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What Is A Chartered Accountant’s Salary?

Chartered Accountants are easily among the highest paid professionals in India, in the league of doctors, lawyers, and other such specialized professions. The role that CAs play in determining the viability of commerce and the economy, makes them sought-after and highly respected. 

Students who enroll themselves for the life of a CA are invariably inclined towards enterprise, financial and banking sectors. As a chartered accountant, you'll give advice, audit accounts and provide trustworthy information about financial records. This might involve financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery, and insolvency, or accounting systems and processes. 

After a tough phase of studying, examinations, articleship and then a CA’s job, an individual finds good career prospects for himself or herself. To address the question of what is a Chartered Accountant’s salary in India, one could consider the average salary in India in the ranges from 8-9 lakh to 40 lakh, per annum. This range is from the level of new CAs to those established with over 15 to 20 years of experience. It also varies according to the sector (public or private) as well as the nature of the industry itself. International packages are even higher ranging up to 75 lakhs. 

Yet, going beyond the average, there are experienced CAs who are drawing close to 75 lakh per annum. These figures are only made possible through years of successful work and an impeccable track record.  The better you are at work, the better you will be paid. There are many CAs from the same batch, but some are earning close to one crore per year while others are still waiting for an 8-lakh package. 

A fresher cannot expect to break through the average salary bracket, unless he or she is an exceptional student. An initial salary package of five lakh to 12 lakh per annum is considered to be a good start.

In the beginning, your ranking and your performance in the exams matter. But after that, your performance at work, which proves whether you are an asset to the company or not, is what will be considered for better salary prospects. 

Once you garner experience and knowledge, an independent practice can yield better monetary benefits for a CA.

Terming the entire CA course an affordable one, former ICAI Chairman CA. K. Raghu said a student had to spend around Rs. 25,000 for three years. This makes the fresher’s salary, on completion of the CA qualification, a very good prospect.