Every year, thousands of students become chartered accountant applicants hoping to pursue a career in accounting. The primary motivation for doing so comes from wanting a bright future filled with opportunities in Pakistan. While everyone knows the benefits of a chartered accountancy degree, it is no secret that this is one of the most challenging certifications, with many students failing. The fear of not doing well or not being able to pass all the exams keeps many young individuals at bay from exploring this field as a potential career option. There is an underlying assumption that CA is challenging. That is true. The number of exams, the syllabus required, and the low passing rate makes it probable that many people who dreamed of becoming accountants at a young age do not make the cut.
If you are at a stage where you have to decide if CA is for you but are scared of repeated failure in the field, and want to know is CA tough, then do not worry. We have compiled the most common reasons why people repeatedly fail their examinations. If you remain sure to steer clear of them, you do not have to worry.
Being extremely overconfident
The primary reason why many people fail their chartered accountancy examinations is that they tend to overestimate their abilities and underestimate the difficulty level of the exams. Usually, people who tend to do well in academics during their school age are the ones who pursue a career. This is because they know that it is a demanding degree. Based on past results, they believe in their abilities enough to take this career path. If you have been a high achiever your entire life, there is a high probability that you will think you will ace your CA examinations as well. This is only possible if you study hard and do enough past papers. Merely going over the concepts and thinking you understand them is not enough. Practical application of everything you learn is vital.
Leaving less important topics
It would be best if you covered all topics before your exams. Do not leave any single one based on thinking it is not as important. Even if you think a particular topic does not have any significance, go over it so you can attempt any question regarding that concept. Your examiners do not have a fixed pattern where they will test you on one thing. Moreover, sometimes when you think some topics are unimportant, you only skim over them. So, when it is tested in exams, you need help remembering how to approach it. To avoid losing unnecessary marks, it is best to prepare and practice all concepts thoroughly. Is CA tough can best be answered once you thoroughly prepare and then appear for exams.
No Fixed Schedule
Students tend to have a flexible schedule, so they find it hard to balance their study time, social life, and sleep. Once you start with the CA certificate, you might prioritize the latter. For a degree as difficult as chartered accountancy, consistency is essential. This means you need to revise everything you learn in class each day. If you do not do that, things will start to pile up and be all over the place, causing you to appear for many attempts for CA. The way to do this is by making a realistic schedule that allocates five hours daily to study. If you put in consistent efforts from the start, you will be well prepared for exams when the time arrives. Having a schedule will also organize your preparation. You will know what syllabus you have covered and what is left.
Lack of Paper practice
Lastly, a contributor to the low passing ratio of CA examinations and multiple attempts for CA can be attributed to students’ need for more paper practice. Once individuals understand the concepts, they think that is enough preparation and that they will be able to solve exams. However, past paper practice is for more than just helping students understand concepts better. They give you an idea of what to expect in the exams in terms of structure, and you know your strong and weak points. When you identify these, you tend to focus more on areas you lack. Adding to that, CA examinations are challenging. Attempting an exam and timing yourself accordingly will help prepare you for appearing in the paper. It will prevent you from panicking and help calm your nerves on the day of the exam because you will be confident in your preparation.
To answer most students’ questions regarding ‘is CA tough,’ yes, it is. You might have to make multiple attempts for CA to be successful. However, one thing to remember is that it is not impossible. Many students of the same caliber as you have emerged victorious in these exams due to hard work and dedication. If you work hard and follow the tips mentioned above, you will surely do well in your exams and be successful in becoming a registered chartered accountant.