Exams are an important component of any student’s academic experience and are frequently used to evaluate how well students have learned and comprehended the things they have studied. It is crucial to have a well-structured study plan and successful strategies in place if you want to perform well on competitive exams in Commerce. The appropriate strategy can dramatically improve your performance on any academic exam, whether you are getting ready for 11 and 12th board exams, preparing for CMA, CA or CS exams, or something else entirely. We’ll provide you tips for preparing for competitive exams in Commerce in this post so you may make the most of your study time and give your best effort on test day.
These study tips and strategies cover a range of competitive exams in Commerce like CMA, CA, CS, and planning your study time wisely, comprehending the format of the exam, making the most of your study tools, and caring for your physical and mental health. By implementing these strategies into your exam preparation routine, you can develop a solid knowledge base, increase your confidence, and lessen the stress and worry that comes with taking exams. So let’s get started with the key techniques that will prepare you for success in your next tests.
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CMA Exam Preparation Tips and Study Plan
Long-term and short-term objectives should be a part of the candidate’s CMA preparation approach, depending on how they are doing with the exam syllabus. CMA is one of the most competitive exams in Commerce study field. Step-by-step preparation for the CMA should be based on the following essentials:
- Step 1: Exam Pattern & Sectional Composition for CMA
- Step 2: Go through the entire CMA syllabus.
- Step 3: Plan and select your CMA preparation mode.
- Step 4: Consider the CMA Exam Study Time as an Important Factor.
- Step 5: Books for CMA Exam Preparation
- Step 6: Vital CMA preparation advice for studying in six months, three months, and two months
- Step 7: Mock exams for CMA preparation
CMA Exam Pattern
CMA Foundation
The foundation CMA course is divided into 4 papers which include fundamentals of the following topics:
- Business Laws and Business Communication
- Financial and Cost Accounting
- Fundamentals Of Business Mathematics and Statistics
- Fundamentals Of Business Economics and Management
CMA Foundation Exam highlight
| Exam Features | CMA Exam Details |
| Mode of exam | Offline Centre-Based Test |
| Type of questions | Multiple Choice Questions (MCQ) |
| Total marks in each subject paper | 100 |
| Duration of exam | 120 minutes |
| Number of subject papers | 4 |
CMA Intermediate
| Group 1 | Group 2 |
| Paper 5: Business Laws and Ethics | Paper 9: Operations Management and Strategic Management |
| Paper 6: Financial Accounting | Paper 10: Corporate Accounting and Auditing |
| Paper 7: Direct and Indirect Taxation | Paper 11: Financial Management and Business Data Analytics |
| Paper 8: Cost Accounting | Paper 12: Management Accounting |
CMA Intermediate and Final Exam Highlight
The mode and duration of the exam and type of questions in both intermediate and final exams are the same:
| Exam Features | CMA Exam Details |
| Mode of exams in both intermediate and final | Offline test from centre |
| Type of questions in both exams | Descriptive |
| Total marks in each subject paper | 100 |
| Duration of exam | 180 minutes |
CMA Final – Group 3
| Group 3 | Group 4 |
| PAPER 13: Corporate and Economic Laws | PAPER 17: Cost and Management Audit |
| PAPER 14: Strategic Financial Management | PAPER 18: Corporate Financial Reporting |
| PAPER 15: Direct Tax Laws and International Taxation | PAPER 19: Indirect Tax Laws and Practice |
| PAPER 16: Strategic Cost Management | PAPER 20: Pick only one subject from the below: PAPER 20A: Strategic Performance Management and Business Valuation PAPER 20B: Risk Management in Banking and Insurance PAPER 20C: Entrepreneurship and Start-Up |
CA Exam Preparation
What makes CA one of the most competitive exams in Commerce is the fact that the level of difficulty increases with each exam. CA foundation is simple and CA Final is the most difficult, followed by CA Intermediate, which is somewhat difficult. It makes sense why it’s regarded as the most competitive exams in Commerce.
If you are one of the candidates who wants to become a chartered accountant but is unsure about how and when to begin studying, whether to use a coaching center or not, or what strategies to use while preparing for the ICAI CA exams, read this article to learn the top tips that will help you do well on the exam.
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CA Study Plan – Keep the following in mind to plan your strategy
- Make a Time Table
- Move Ahead with Divide and Rule Plan
- Attempt Pre Mocks
- Bring Conceptual Clarity
- Make it a Habit of Solving Sample Papers
- Be Part of a Study Group
- Focus on Areas of Improvement
- Post-Preparation Mocks
CA Exam Highlight
| CA Exam Features | Details |
| Exam Name | Chartered Accountancy (CA) exam |
| Exam Conducting Body | ICAI |
| Exam Levels | CA Foundation CA Intermediate CA Final |
| Mode of Exams | Computer test mode-based |
| Exam Frequency | Twice in a year May-June November-December |
| Total Marks per Paper | 100 |
| Total Marks | 400 |
| Passing Marks | 40 percent in all papers |
| Level of Difficulty | Tough |
| Number of Attempts | Multiple |
| Marking scheme | NO negative marking for subjective (Papers 1 and 2) For the objective papers (Papers 3 and 4) there will be a 1/4 mark deduction for each incorrect response. |
| Medium of exam | English and Hindi, with the exception of Paper 2’s Section B, which will only be in English. |
CA Foundation Papers
| ICAI CA Foundation Papers | Level I: Comprehension & Knowledge | Level II: Application | |
| 1 | Principles and Practice of Accounting | 5%-20% | 80%-95% |
| 2A | Business Laws | 50%-65% | 35%-50% |
| 2B | Business Correspondence and Reporting | 100% | – |
| 3 | Business Mathematics and Logical Reasoning & Statistics | – | 100% |
| 4I | Business Economics | 40%-50% | 50%-60% |
| 4II | Business and Commercial Knowledge | 100% | – |
CA Intermediate papers
| ICAI CA Intermediate Papers | Level I Comprehension & Knowledge | Level II Analysis & Application | |
| 1 | Accounting | 5%-15% | 85%-95% |
| 2 | Part I: Company Law | 40%-55% | 45%-60% |
| 2 | Part II: Other Laws | 35%-55% | 45%-65% |
| 3 | Cost and Management Accounting | 20%-30% | 70%-80% |
| 4A | Income-tax law | 5%-20% | 80%-95% |
| 4B | Indirect Taxes | 20%-45% | 55%-80% |
| 5 | Advanced Accounting | 5%-15% | 85%-95% |
| 6 | Auditing and Assurance | 30%-55% | 45%-70% |
| 7A | Enterprise Information Systems | 40%-65% | 35%-60% |
| 7B | Strategic Management | 50%-70% | 30%-50% |
| 8A | Financial Management | 20%-30% | 70%-80% |
| 8B | Economics for Finance | 60%-80% | 20%-40% |
CA Final Papers
| ICAI CA Final Papers | Level I Comprehension & Knowledge | Level II Analysis & Application | Level III Evaluation & Synthesis | |
| 1 | Financial Reporting | 5%-15% | 55%-85% | 15%-25% |
| 2 | Strategic Financial Management | 10%-20% | 20%-40% | 50%-60% |
| 3 | Advanced Auditing and Professional Ethics | 15%-25% | 40%-70% | 20%-30% |
| 4 | Corporate & Economic Laws Part I: Corporate Law | 15%-25% | 40%-55% | 30%-35% |
| Part II: Economic Laws | 30%-50% | 50%-70% | ||
| 5 | Strategic Cost Management and Performance Evaluation | 10%-15% | 45%-55% | 35%-40% |
| 7 | Direct Tax Laws & International Taxation Part I: Direct Tax Laws | 5%-10% | 55%-75% | 20%-35% |
| Part II: International Taxation | 40%-50% | 50%-60% | ||
| 8 | Indirect Tax Laws Part I: Goods and Services Tax | 10%-30% | 40%-70% | 20%-30% |
| Part II: Customs & FTP | 20%-40% | 40%-70% | 10%-20% | |
CS Exam Preparation
The best study tips for passing the Company Secretary CS exam in 2023 or 2024 are offered here. You must utilize the six months effectively. You need to identify your priorities, and weak points and prepare accordingly to prepare for this competitive exam in commerce.
Tips to prepare for CS exam
- Know your CS Syllabus and Exam Pattern
- Create a Schedule
- Use the Best CS Study Resources and books
- Practice with prior years’ Question Papers
- Find yourself a tutor or a Coaching for the Company Secretary Exam
- Keep your focus
- Practice and solve as many CS practice papers as possible.
CS Syllabus and Exam Pattern: A Must Read
The CS Syllabus and Exam Pattern must be reviewed by the students in order to learn the subjects and important themes that will be covered for the CSEET, Executive, and Professional Exams. The students’ chances of receiving high marks will be improved.
CS Exam Highlights
| Features | Details |
| Mode of Exam | Center-based examination; Offline |
| Duration of Exam | Three hours for each paper |
| Marks | 100 marks for each paper |
| Language of Question Paper | English |
| Nature of questions | MCQs and Descriptive |
| Pre-Examination Requirement | Clear a Pre-Examination Test to qualify for enrolment |
| New Syllabus First Examination 2022 | Executive- 21-Dec-2023 onwards Professional- June 2024 |
CS Exam Pattern by ICSI: Executive Programme 2022
Group 1
| Paper Number | Subjects | Marks |
| 1 | Jurisprudence, Interpretation & General Laws | 100 |
| 2 | Part 1 – Company Laws – Principles and Concepts Practice Work | 60 |
| Part II – Company Administration & Meetings | 40 | |
| 3 | Part 1 – Entrepreneurship, Industrial & Labour Laws Setting Up of Business | 60 |
| Part II – Industrial & Labour Laws | 40 | |
| 4 | Part I – Corporate Accounting and Financial Management | 60 |
| Part II – Financial Management | 40 |
Group 2
| Paper Number | Subjects | Marks |
| 5 | Part1 – Capital Market & Securities Laws | 40 |
| Part II – Securities Laws | 60 | |
| 6 | Part I – Economic & Commercial Laws | 60 |
| Part II – Intellectual Property Laws | 40 | |
| 7 | Part 1 – Direct Tax | 60 |
| Part II – Indirect Tax | 40 |
All papers for the Executive Program’s examination have a combination of 20% case-based objective-type questions and 80% descriptive questions, with the exception of Paper No. 4’s Corporate Accounting and Financial Management, which has 100% descriptive questions.
Duration: 3 Hours (each paper)
Marks: 100 Marks (each paper)
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Conclusion
Preparing for competitive exams in Commerce requires students to maintain a proper study plan, manage their time, identify their priorities, eliminate their weaknesses, keep in good shape and mind, and ask a professional for help in case of doubts. The preparations should start at least 6 months prior to the exam day. Please note that not everyone can clear the exams in the first attempt whether it’s CA, CMA, or CS, but don’t let this dishearten you. Keep pushing your limits until you clear all exams.
