Impacts of the Coronavirus on CA Final Students' Exam Attempt
The Institute of Chartered Accountants of India (ICAI) conducts the final exams twice a year in May and November. However, due to the global spread of the Coronavirus, the July batch, planned to be held in May 2020, was postponed until August 2020. This change has significant implications for CA final students, including both advantages and disadvantages.
Advantages for CA Final Students
Multiple positive aspects emerge from the exam delay:
Positive Aspects
1. Golden Opportunity: Students with less preparedness or those who need more time to revise the extensive syllabus now have a chance to make up for lost time. They can use this extended period effectively to enhance their preparation.
2. Dream of Getting a Rank: The additional days provide an opportunity for high-performing students to achieve a rank or distinction. This is particularly beneficial for those just aiming to pass the exam, who might now score well and even gain exemptions in key papers.
3. Appearing for Both Groups: Those who were initially planning to take only one group can now consider the possibility of appearing for both groups. Even those who cannot prepare for both groups can benefit from the rescheduling by securing exemptions in one or more papers. With the lockdown, many private coaching classes have provided free access to video lectures and study materials, helping students effectively utilize their time.
4. Time for Practice Test Papers: To succeed in the CA final exam, consistent practice is essential. This extra time can be effectively used to attempt RTP (Revised Test Paper) mock tests and other practice papers available online. I recommend the PREPCA test series for its comprehensive answer-wise assessments and detailed feedback, which have been proven beneficial in improving areas of weakness.
Disadvantages for CA Final Students
Despite the potential benefits, there are considerable drawbacks as well:
Disadvantages
1. Unstable of Mind/Demotivated: The uncertainty and stress arising from the pandemic can lead to mental instability and demotivation, especially for students who are away from their hometowns and have to prepare in a new environment. This mental state can significantly affect their preparation and performance.
2. Delay in Becoming a CA: For those who are just 1-2 papers away from qualifying or those appearing for a second group, the extension can delay their membership and professional progress in the Chartered Accountancy profession.
While these challenges are significant, it is important to recognize that the situation is beyond our control. What is within our control is the quality of our preparation. Utilizing the extra time wisely can help mitigate the negative impacts and enhance the chances of success.
Wishing all CA final students the very best for their upcoming exam.