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How should one Prepare for the CA Final FR Exam?
Financial Reporting, the question paper is purely practical. Therefore, you have to practice solving a good number of questions on each topic through CA Final Test Series Free. Try to solve each problem on your own (by yourself), in spite of just audit solutions from a notebook or study material.
Some students have been made a concept that Financial Reporting is all about Holding Company Accounts and Amalgamation. But there a slight difference if you have analyzed this paper properly. According to me, there are a lot of small topics that are easier and can be prepared with 100% accuracy in a short span of time. Rather than devoting one month on preparing Holding Company Acts (and getting it half correct in exam hall), students can easily cover small topics in a week (and score 40-50 marks with full accuracy).
How to start study for CA Final FR?
We cannot comment on ICAI's difficulty level of question papers to judge FR to be so easy. Start preparing your notes in a very concise manner, only note down the key points which are mandatory to write in exams. Keep the notes handy with you so that it can help you to retain it for a longer time with your cumulative revision or record your voice narrating the whole revision of the notes and hear it again and again.
Well, for the theoretical content self-notes is there for the rescue, but for the practical question solve as much as you can and don't go for other author's book unless and until you have finished with the study material thoroughly concerning preceding 3 attempts, questions are asked from there only and along with that try to solve past papers, CA Final Test Series Free and don't forget the RTP's. RTP's of FR paper will always loose out the confidence in you but don't worry exam paper is quite easy than what it appears in RTP's.
How to score an exemption in CA Final Financial Reporting?
Firstly, performing better in financial reporting paper sets the confidence level for the entire examination. Scoring exemption in Financial reporting must be your primary goal in the planning schedule of your exam preparation.
Financial Reporting is a practical subject hence needs a lot of practice. One cannot pass this subject by merely reading the formulas or formats and solving the question using a different approach. You should solve CA Final Test Series Free by hand. Make sure you practice all the formats for a good presentation in the exam. Along with your own study material (be it the ICAI module) Go through the Practice Manual at least 2–3 times and for RTP 1–2 revisions would sufficient.
Few points which can be of some use: