November 2015 Rankers share their experience

Arihant Kothari from Chennai shares his experience - AIR 9 - November 2015

Why did you choose CA? Is it a must to aspire to be a CA before you choose the course in order to succeed in the course or get a rank?

When I first chose CA i wasn't even aware of what I was getting into. I knew that the profession was a one where people look up-to you for advice and you'd make good money. And as i got into it, I realized what it was and then i actually liked it. 

I personally think to achieve something big in the field where you're getting into, you need to live it day in and day out. You might get a rank even if you don't like the "CA" course, but you wouldn't be half happy as you would be had you liked it.

Did you follow the advice of other rank holders or CAs in planning your studies? If yes, how did you customize their advice?

I did take advice from a couple of them, but at the end of the day it was my call. I din't change the way i study. but I made it a point that I inculcated all the tips they gave in my plan. Rank was never on my mind. All i knew was to put the best i can. Every-time i used to think about the exams the only thing that came into my mind was the fear of failure, which in-fact pushed me to study harder.

How helpful was articleship experience in your exams?

Yes definitely. Articleship from a good firm does help. So i did my articleship in a Big 4 (EY), if not for anything else it sure did help me to put long hours during my study leave. "When you can work 16 hours for your office, you can definitely put 17 for yourself."

CA being a self-study course, Do you advice students to attend coaching classes for all the subjects?

Certainly coaching classes are not a necessity. It all comes down to how comfortable you are and how self motivated you are. So I preferred classes as it gave me fixed timings to spend time with my books and stay in touch with them. So if you are comfortable reading a subject on your own, go ahead. Its not a rocket science. All you need to do is stay focused and do your targets regularly.

What do you recommend for CA students who do not have access to good coaching classes?

If you're someone who is highly self motivated and you can sit with the books and read on your own, start early and you're good to go. For the rest of you, maybe you can come down to a city for 6 months or so and take classes for the subjects where you find it difficult to read on your own. Just ensure that you don't take classes during your study leave.

In addition to all the hard work and commitment, does luck play a role in the exams?

Definitely. "Luck" does play a big role. Having said that, just luck wouldn't help. You need to do your part with utmost sincerity. 

How did you handle the exam pressure, if you do not answer a paper to your satisfaction? Has that happened to you?

I made it a point that i get a good sleep a day before the exam. Also, i was confident when i entered the exam hall. Panicking at that moment is of no help. 

So i was shattered when i saw my audit paper, because it was completely different from what i expected it to be. And eventually that was the subject where i scored the least (which is because i panicked - as i said its of no help).

How to manage subjects or concepts which a student finds difficult to understand, but can memorize easily.  Which do you suggest? Spend more time and effort in understanding the concept or save time by memorizing?

It depends on the time of the preparation and the subject. So if its not very important i might as well skip instead of investing more time. But it isnt a great idea always. The kind of confidence you have when you cover the full portions is no match to the others.

Have you faced failures in your past? What lessons did they teach you?

As i said earlier, i had never tasted failure earlier, so i dint want to face one now. Having said that, your past is not a road-map for your future. If you failed earlier, the only way to get over it is to get up work harder and prove it to yourself that you can.

Did you spend time on leisure activities during the study holidays or during the last three years? What are your hobbies? How do you relax and take your mind off studies ?

Oh yes. Its impossible to stick with books for 4 months. I did take breaks, went out for movies, with friends, restaurants etc. Food was my best friend though. 

Warm Regards
 

Arihant Kothari | Chartered Accountant

Thank You Arihant :)

Anooj Vikam from Mumbai  shares his experience - AIR 45 - November 2015

A brief intro on what triggered the CA decision at that point of time?

I am Anooj Vikam, born and brought up in Thane (Mumbai). I graduated from R.A.Podar College of Commerce and Economics in March 2014 and I have pursued my articleship at EY. 

I come from a Jain business family. I chose CA because it is one-of-a-kind profession which helps you get excellent commercial knowledge and opens up varied avenues professionally once you get through.

What were the key tenets of your CA exam strategy

I had enrolled for practical subjects including direct taxes and in the hindsight enrolling for only practical subjects seems to have paid off. I got the best of the coaching where I needed (FR/SFM/Costing/DT). CA Final Coaching Classes might not spoon feed you but they will help you in at least making you aware of the curriculum and how you should go about it. Honestly theory subjects like Law and Audit require a lot of self study. One may decide on enrolling for ISCA and IDT. For me self study even in these subjects was enough.

Its very important to plan and strategize your schedule so that you study smart an not hard. My study schedule was divided into block of 7-12 days for each subject for the first reading and 4-6 days for the first revision. I also ensured that I revised ISCA and Law for the second time. One thing I had liked to advise is that you should plan those one and a half days before every exam on a piece of paper well in advance.

How does the CA course life transform one as an individual? Can you please share your key learnings?

I think it has taught me to be far more patient, tolerant and more change-welcoming. The three years of articleship have taught me that sometimes things are all destined and all the dots will connect eventually.

Studying religiously has taught me to be far more organized and to keep going at things that might seem impossible at the beginning but nevertheless you should always give the best shot to whatever you take up. 

In your view, what are factors one must consider before embarking on the CA journey? Aptitude, career aspirations etc.?

I think its a mixture of aptitude, atitude and ability to stay dedicated throughout the journey.

What would be your advice to future CA aspirants?

If you decide to take up CA, ensure that you stay focussed and dedicated. CA is definitely not amongst your conventional courses. No doubt it requires you to put in lot more efforts but hopefully in the end it will all count.

Anything else that you would like to share with readers 

A senior had once told me that in these 4 months there will be times during which you will feel down and out but just remember to keep going at the curriculum. This mindset will definitely pay off.

Thank you Anooj :)

Avinash Sanceti from Kolkatta shares his experience - AIR 3 - November 2015

How does it feel to be at the top?

It’s good to see the close ones (family, friends etc.) to be so happy with the results. It’s a dream come true when honourable President of ICAI gives you such a lovely news on a scary morning. On the other side, it gives me strength and courage to go ahead in the years to come.

According to you, what are the intrinsic and external factors contributing to your outstanding success in the final exam.

Important factors contributing to my success:-

• Never ending support from family, friends and teachers
• Continuous endeavour to do better
• Interest and love for the subjects
• A strong article-ship background
• Friendly working environment
• Institute’s practice manuals and mock tests

What strategy/study plan did you follow while preparing for the exam

Important points:

• Always in touch with subjects
• Tried relating the theory stuffs with real life experiences in articleship
• For practical papers – solving sums and practicing numerous problems of various dimensions and not just seeing them
• For theory papers – I did not try to mug up the subjects in one go. Devoted small number of hours everyday for a longer period so that the matter can be retained.
• For all subjects i followed practice manuals provided by the institute

 How have been the inputs provided by the Institute contributed to your success in the examinations?

Ans) The practice manuals provided by the institute helped me to concentrate and work on writing pattern, syllabus coverage and exam orientation. Further, mock test papers and RTPs provided by institute helped me for the last minute practice and revision. Compiler of past year questions helped me in gaining knowledge about the type of questions asked and the way to answer them.

What are your aspirations for the future?  Do you have any specific career choice?

Ans) I wish to pursue my career as a teacher for Accountancy subject for my fellow CA friends and keep gaining knowledge on the subjects like IFRS, IND AS, valuations etc.

Do you think the Chartered Accountancy Course is the gateway to achieving professional excellence?

Ans) Chartered Accountancy course is such a dynamic one that it helped me to gather knowledge on various aspects and enlightening both theoretically and practically on the subjects. The way business environment is changing throughout the globe, this course gives me an opportunity to become competent in such situations. We are now competent for any job at a higher post in big concerns and also for becoming entrepreneurs of the developing India.

 How would you motivate the youngsters joining this course?

Ans) “Learn, unlearn and relearn” – the basis of all enlightenments is the only mantra to become a Chartered Accountant. It is not so tough a course as everyone says. A right approach, hard work and passion is all what is required. I will suggest every commerce student to join this course so that we can contribute towards a better future for our country and ourselves.

Note: The above will be published in students journal for the month of March 2016.

 Thank you Avinash  :)