FR - How to score good marks in CA Final Financial Reporting.
How to get an exemption in CA Final FR
How to pass in CA Final FR
How to study for CA Final FR
Financial Reporting
Source – Coaching notes and examples for concept understanding. Study Material, RTP and MTP past two attempts.
Approach-
1. See Bhavik Chokshi Sir’s revision video. If not available for a particular topic or you need more clarity, see Sarthak Jain sir’s revision video.
2. Read your coaching notes for concept learning and examples. Can also keep Bhavik sir’s notes (which are available in his video’s description box) for quick reference. Be mindful of marking/highlighting those points which are to be revised on last day and last day revision questions. For topics like consolidation- make your own list of adjustments to be done in Balance Sheet, Statement of Profit and Loss, Statement of Cash Flow, Statement of changes in equity and Notes to accounts. So that you never forget making double adjustments.
3. Go for Study Material - illustrations and questions. Avoid reading explanatory text unless your concept is weak. Study material has a lot of theoretical questions which might look important prima facie but if one analyses past pattern, focus is always on practical topics. So just try to get a bird’s eye view of theoretical questions – like getting the gist of it and test your ability to recall it in your mind. In practical questions, try to redraw the outline or form/columns of the answer on the side such that it facilitates quick revision. For long questions, you can write the steps for approaching it for quick revision. Also explaining a particular concept to a friend helps in understanding. If you face any difficulty in any question beyond 10 minutes, search for a faculty’s video on Youtube solving it. Some of CA Final questions are very tough and it’s a waste of time and confidence if you take it on your ego that you will solve it all yourself.
4. Go for past 2 attempts RTPs and MTPs. Prefer watching a Youtube video where a faculty is solving these contents. RTPs generally have tricky questions which if solved first by oneself, may lead to loss of confidence and drain a lot of time. Its better to learn it to approach in Institute’s way. ICAI updates these contents without issuing corrigendum so stick to ICAI’s website pdf every time. Don’t rely on old pdf and printouts.
5. You might now revise and appear for a mock test. Some people advocate multiple revisions. I had 2 at best. I prefer a detailed study rather than multiple light doses.