How to Prepare for CA Final FR Exam?

Category: Education

What is Financial Reporting (FR)? Financial reporting is the art of documenting and communicating the financial activities and performance of an organisation at periodic intervals (quarterly or yearly). Hence the subject CA Final FR helps you develop this skill so that you can utilize it in your future. CA Final FR Exam Pattern Before understanding the steps of preparing for your CA Final Financial Reporting (FR) Exam, you need to be aware of your exam pattern. The following table will show you all the necessary details you need to know. Particulars Details Name of Exam CA Final Financial Reporting (FR) Maximum Marks 100 Conducting Body Institute of Chartered Accountants (ICAI) Mode of Exam Offline (pen and paper) Duration of Exam 3 hours Frequency of Examination 2 times a year Negative Marking No negative marking for wrong answers Language of Exam English and Hindi Type of Questions Subjective Preparation Strategy for CA Final FR Many of you might be looking up for CA Final Financial Reporting Classes to help get the desired guidance. Check out V-Smart Academy, it is relied on by several CA aspirants all across India. Apart from the classes there are several steps you have to take to get 100% results. Following are the mentioned steps you need to take while preparing for CA Final FR. Browse through your syllabus It is important that you go through your syllabus before starting your preparation. It will help you divide the portion into two halves- easy and difficult. By categorizing the topics in these two groups, you will get clarity on where to start. Always start with something difficult because once you are done with it, you feel great about clearing a tough topic. It will help you boost your confidence to study the easier ones. Understanding the Pattern of CA Final FR Exam It is necessary to analyze the pattern of the CA Final FR exam so that you get an idea of the paper pattern. This will help you plan out your study sessions. You will understand the time limit within which you have to complete the paper, and accordingly, you will train your pace. Similarly, depending on the kind of question, you will practice your answers as for subjective questions, you have to practice descriptive answers. Making A Proper Schedule/ Timetable It is necessary to make and follow a proper schedule while studying a subject. Scheduling will help you divide your time efficiently to complete the entire syllabus. Do not limit time for hard subjects but a lot a specific number of days for your completion cycle. This will help you check and mark your completed topics as you are in the process of learning. CA Final FR Study Material You live in a world where everything is available on the internet. You need to take advantage of that. You can refer to various video lectures of top faculties to understand a specific topic. Through this, you will be able to clear your basics well, which will help you during your exams and future career as a CA. At V-smart Academy we provide students with proper CA Final study material designed in a manner where they can learn each topic easily. Practice/ Mock Test While preparing for the CA final FR exam, you cannot skip this step. It is really important to verify your knowledge and learn. It is also a way of understanding the areas that need more practice. The more practice tests you take, the more confident you grow to face your exam. While you practise your past question papers, you will grow accustomed to the paper pattern making it easier for you to face the examination. Revising the Topics Just because you have studied the topic once doesn’t mean it’s over. You have to revise it every now and then to keep it in your memory till the exam date. A revision is essential after you have taken up a practice test or a mock test. It will help you regain confidence in the areas where you were getting stuck. Also, ensure that you keep the week before your exams only for revision. This will help you avoid panic and strengthen the knowledge that you have learnt. Keynote: Ensure that you revise topics with heavy weightage thoroughly (e.g: Consolidation and Business Combination which carry around 25-35 marks). Conclusion This blog provides you with information about the CA Final FR exam. Including exam pattern and preparation strategy. If you commit yourself to the strategy, it will help you get the desired results.