After 'Bumper' CA Final May Results, ICAI Very Important Update for Nov 24 CA Final Exam - Take Note

Summary

This video script discusses the May '24 CA final results, highlighting a high pass rate but also students' struggles. The speaker addresses concerns about low marks despite studying, mentioning ICAI's evaluated answer sheets and webinars for guidance. They emphasize the importance of understanding exam patterns and marking schemes, and offer a curated summary of webinars to help students maximize their scores. The speaker also introduces a last-month workshop for focused study, sharing testimonials of past success and offering a comprehensive study plan, test series, and additional resources like meditation and nutrition sessions to ensure exam readiness.

Takeaways

• 🎓 The May '24 CA final results were impressive, with nearly one-third of students clearing at least one group.
• 📚 Despite studying, some students failed to clear any group, indicating the need for better exam strategies and understanding of evaluation criteria.
• 📑 ICAI provides evaluated answer sheets to help students identify mistakes and understand where they went wrong.
• 💡 ICAI has initiated subject-specific webinars to offer secret tips on exam preparation, marking schemes, and how to secure bonus marks.
• 🚫 Avoid focusing solely on theoretical or numerical chapters; a balanced approach is necessary for success.
• 📈 The Board of Studies organizes webinars to guide students on expected paper patterns, marking schemes, and strategies for November '24 exams.
• ⏰ With exams approaching, the speaker offers condensed summaries of webinars to help students save time and focus on crucial points.
• 📈 For Financial Reporting (FR), the syllabus is divided into sections with varying marks分配 for MCQs and descriptive questions.
• 📝 Practice is key for improving speed and presentation in exams; ICAI recommends solving at least two past papers.
• 👨‍🏫 The speaker is launching a 'last month workshop' to guide students on how to make the most of the remaining time before exams.
• 📚 For Auditing and Professional Ethics (APE), Internal Audit, and Information Technology (IT), the speaker is also preparing summaries to aid last-minute preparations.

Q & A

What was the success rate of the May'24 CA final exam?

Almost 1 in every 3 students cleared at least one group.

What does ICAI provide to help students understand where they went wrong in their exams?

ICAI gives evaluated answer sheets to students so they can see their mistakes.

What is the purpose of the subject-specific webinars conducted by ICAI?

The webinars provide secret tips on how to set papers, check them, where to get bonus marks, and where marks might be deducted according to examiner's comments.

What is the recommended approach to studying for the CA final exam according to the script?

The recommended approach is not to focus only on theoretical or numerical chapters but to understand the pattern of the paper, expected marks from each chapter, and types of MCQs.

How can watching webinars potentially increase a student's marks?

By watching webinars, a student can potentially increase their marks by 15-20 in every subject by understanding the exam pattern and strategies.

What is the significance of the last month workshop mentioned in the script?

The last month workshop is designed to help students make the most of their final month before exams by providing a study blueprint based on past papers, section-wise weightages, RTPs, and MTPs.

What are the key sections of the Financial Reporting (FR) syllabus as per the script?

The FR syllabus is divided into 8 sections with varying marks for MCQs and descriptive questions, ranging from 2-6 marks for MCQs and 5-20 marks for descriptive questions.

Why is it recommended to solve at least 2 papers before the FR exam according to the script?

Solving papers helps address issues of speed and presentation, ensuring students can cover the entire paper within the allotted time.

What is the importance of reading the requirements of the questions properly in the exam?

Reading the requirements properly ensures that students answer the questions as asked, avoiding mistakes like writing disclosure when calculation is required, which can lead to lost marks.

What are some common mistakes students make in the AFM subject as highlighted in the script?

Students often make carry-forward errors, copy-paste errors, and get confused by MCQs where figures are provided in the options.

What is the key advice for students studying for the DT subject according to the script?

Students should be aware of the Finance Act 2023, refer to statutory and judicial updates, and practice questions from RTP, MTP, and study materials.