If you are thinking of becoming a chartered accountant or a professional CA, then, first of all, you have to clear either of the entrance examination known as Common Proficiency Test (CPT) or Foundation Examination. Then after clearing the CPT course, a student has to pass two more examinations during the course of CA, which are Integrated Professional Competence Course or IPCC and Final Course. A lot of students are not able to clear this IPCC examination in the first attempt. Some CA students take more than 5 years to complete it. Therefore, there is a need to find the reasons behind those failures and make necessary amends. Today, CA offers the most successful career in the country. The salary earned by chartered accountants can reach 24 lac per annum. Therefore, CA is indeed a very lucrative course. So let us find out why a substantial number of students fail to complete CA.Reasons Why Students Fail in CA Exam
- The wrong choice of textbooks – Since most of the course of CA is about self-study, the students tend to buy random books from the book shops. Not all books cover the syllabus properly. Here are some standard textbooks for IPCC examination:
- Cost Accounting and Financial Management a Practice Guide by B. Saravana Prasath
- Padhuka’s Question Bank for Taxation for CA IPCC
- IPCC Business Law & Company Law by Munish Bhandari
- The wrong choice of textbooks – Since most of the course of CA is about self-study, the students tend to buy random books from the book shops. Not all books cover the syllabus properly. Here are some standard textbooks for IPCC examination:
- Not giving equal weightage to each theory and practical papers – There are a lot of theoretical subjects in CA. The students, who have just completed their higher secondary, cannot adjust with the self-study format of the CA courses. In addition to that, they need to prioritize their daily routine according to the theory and practical papers. So, it can be a little intimidating in the beginning. Due to not planning properly and giving more weightage to either theory or practical portions, either of the papers becomes messed up for the students. Generally, 30-35% of the CA papers are from theoretical topics. Therefore, you cannot ignore the theory. Some students stress more on practical subjects and fail in some CA papers. This percentage is based on what has come in the past CA examinations. This format may change anytime. Therefore, the best way to study is to give equal weightage to both theory and practical papers and be ready for any format.
- Long internship period-Those who are able to switch to self-study mode quite easily and pass the Integrated Professional Competence Course cannot opt for the examination for the Final Course directly. They have to serve an internship of over 2 years under some certified CA. This means that for around 2 years or more, these brilliant students are out of touch of their textbooks. However, some people may argue that the internship is giving them a lot more leverage than textbooks. This is true. However, there is another side to it. While doing a rigorous internship and getting acquainted with the real world, the students forget the curriculum of their books. One must study the entire book to get the pass marks in the examination. Therefore, some students fail to complete CA, even if they have cleared the IPCC.
- Not following the correct accountancy rules-There are too many rules and problems on accountancy that you need to cover for the CA course. It is quite natural to forget certain accountancy standard or the rule of depreciation to follow for a certain sum. In order to avoid that, you need to practice the CA sums and way of writing balance sheets and other accounts. A lot of students fail in accountancy papers, as they solve the problems using the incorrect accounting standard or rule. You can buy books that particularly focus of accountancy problems that have come in past CA examinations. In that way, you will get a complete grip on such problems.
- Logic School of Management – You can contact them at [email protected] or +91 9895818581.
- Pillai’s Academy – You can contact them at 0484 401 5722. This coaching centre is located in Kaloor, Cochin.
- Biswas Institute of Management Studies – You can contact them at +91 94471 25370 or through email at [email protected]
- IAM Business School – You can send them an email for taking admission at [email protected]
- Charters Institute of Commerce – You can call them at +91 94950 25151 for further admission details.
