A Case Study (CA) is nothing but a set of facts and issues presented in a story form, followed by a set of questions asking for your recommendations, strategies, evaluations, etc. More often than not, a CA question is based on the theoretical concepts of the subject, requiring you to apply frameworks, theories, and concepts to logically provide certain solutions/strategies/conclusions. You can easily get better at them by attempting CA Final Test Series from CA Exam Test Series.
What is being tested in a CA?
Evaluation of cost management techniques in real-life business situations
Evaluation of performance management techniques in real-life business scenarios
Sharpening & testing skills in solving practical business issues in day-to-day operations
Enhancing the quality of decision-making and facilitating the creation of stakeholder value
Understanding of inter-linkages between cost management, strategic management, financial management, and performance management in the context of running an organization successfully
How to approach a Case Study?
Now that you know what is being tested in a CA, let's see how to approach the preparation for solving CA and scoring good marks. The major pointers you need to keep in mind while preparing to tackle CA questions are as follows:
Read the entire CA with a cool, calm head. Keep underlining key facts, issues, and points in the story. Keep a separate note of the facts & figures relevant to numerical computations.
Make sure that you understand the requirement of the question and your expectations in the answer clearly. If the question is asking you for some recommendations, you will first have to write the guidelines, link them with the case story, and finally conclude with your recommendations. The test series for ca final Nov 2023 that you attempt will have enough questions for you to understand this and get used to it.
The first thing after reading the CA should be to prepare a mental plan on how to go about analyzing the CA and answer the questions which follow.
The next step would be to identify the possible solutions and alternatives for each of the issues identified.
After all this planning is over, now is the time to start answering the questions one by one. Since you would be working under a lot of time crunch during the exam, it is highly advisable to have sufficient written practice beforehand. With the test series for the ca final Nov 2023 from CA Exam Test Series you will get profound experience in written practice and also get answer suggestions.
In trying to get to the conclusion/solution/recommendation, you will have to be aware of providing a detailed analysis of all the issues identified, their impact and the relevant concepts involved. Your recommendations need to flow logically with proper justification and explanation. It need not run into pages, but of course, quality matters over quantity.
Your recommendations should come right at the end of the discussion. The recommendations or solutions proposed should be logical, keeping in mind the management objectives involved in the given CA. The recommendations should include the 3 important points i.e. What to do? Why do it? How to do it?
Lastly, refrain from introducing any new point or issue in your recommendations. Identification of all the issues and points should have been completed before beginning to write the recommendations section of your answer. This section will only refer to what has already been written before it.