May 26, 2021
When revising on the last day before your CA exams, if you have an option to go through the entire book/syllabus or to refer to quick summary notes, what would you prefer? Smart CA aspirants will consider the latter.
The reason being, quick summary notes are convenient, easy, and less time-consuming to go through. Having self-prepared notes handy helps in focusing on important topics/questions without wasting much of your crucial time. Needless to say, note-making during your exam preparation helps in better retention of topics as it is your ultimate study guide. It boosts your confidence as well.
Chartered Accountancy is a highly accountable profession to be in. CAs carry a huge responsibility. They are responsible for auditing and signing off a company’s book of accounts. They sign off on tax returns of large and complex organisations and are expected to not make any errors. Due to this, they are required to have in-depth insights into Company Acts, Accounting and Auditing Standards, Taxation laws, other laws like SEBI and FEMA, Audit Information Systems, and a proper understanding of the vast CA curriculum.
The only way to even complete such a vast syllabus is putting in effort regularly along with the mixture of smart work. Note making is an example of the same.
Effective CA preparation requires a combination of smart and hard work. You cannot just mug up the entire syllabus, it’s impossible, right? Instead, you should make notes in your own language and at your convenience to understand any topic. In this blog, we will throw light on the importance of note making for CA exams, and why you should make it a habit to do so.
Taking notes is an important learning strategy, despite a large amount of information available in various study materials. When you make notes in your own words, it becomes easier for you to understand and retain a topic for a longer period of time. You get better clarity of concepts when you practice writing them.
Let’s try to understand this with an example:
Framework for preparation and presentation of financial statements is a crucial chapter of Financial Reporting. Its purpose, scope, users of financial statements, objectives to prepare financial statements, underlying assumptions, qualitative aspects of financial statements, constraints on relevant and reliable information, elements of financial statements, recognition of the elements of financial statements, measurement of the elements of financial statements, and financial capital maintenance vs physical capital maintenance are lengthy yet important topics.
Although it requires a thorough reading of these topics to properly grasp and understand, yet with the help of self-prepared notes, it becomes equally easy to remember them as you pen down the crux or important pointers rather than writing complete sentences. This eventually saves your precious time.
Besides note making, CA aspirants should also consider solving Mock Test Papers (MTPs), Revision Test Papers (RTPs), and Past Year Papers (PYPs) during CA exam preparation. This will help them to understand the exam pattern and the most frequently asked questions during the past year papers.
Apart from that, there are a few common benefits that a student gets by solving RTPs, PYPs, and MTPs. Let’s have a look at them.
Your revision becomes more strong and effective when you have self-prepared notes by your side. Having written the important pointers of each chapter, it becomes easier to prioritize the important topics for revision.
Effective note-taking improves your learning abilities. By taking effective notes, students get actively engaged in the learning procedure by identifying and organizing the main topics/chapters for preparation and revision.
Only reading the chapter without making the notes will not help you remember the important topics. It is advisable to make notes for better grasping.
Making notes and solving MTPs, RTPs, and PYPs should always be on your to-do list during CA exam preparation. Referring to quick summary notes on the last day before the CA exams save you precious time and boosts your confidence. The practice tests help you to measure your preparedness and also help you to work on your weaknesses. Not only do they increase your confidence, but they also help you with time management as well. So buckle up and prepare well for your exams with self-prepared notes.
All the best for your CA exams.