The institute of Chartered Accountant of India (ICAI) organizes the exam for foundation twice a year once in June and secondly December. The beginning stage of Chartered Accountant course is CA Foundation. The student can attempt for the foundation after passing out 12th class. The main motive of this course is to absorb candidates into Chartered Accountancy Course, it is conducted all over India and candidates can register for the same before the deadline.
The candidates can skip this entry level examination if he has
completed his graduation or post graduation with commerce stream and attained
maximum 55% or 60% from other stream. They can directly jump to the second
level of examination. It is Mcq based offline examination where eligible
candidates are shortlisted for the next entry. The number of candidates
applying for this course has increased gradually; nowadays many students enroll
for the CA course.
For the preparation for this primary level, GM TEST SERIES helps the student to make the roots stronger.
Most of the test series provides the online test only to the inter and Final
level but GM provides the tests from the foundation till final level. The
detailed explanation of the syllabus is given below
The syllabus in this course
basically includes the four subjects starting with first subject is Fundamentals of Accounting: this subject involves Preparation of Final
Accounts for Sole Proprietors, Accounting for Special Transactions, Bank
Reconciliation Statement, Depreciation accounting, Theoretical Framework,
Accounting Process, Introduction to Company Accounts and Partnership Accounts.
Secondly, Mercantile Laws basically
means all the laws included in a company to handle or look after its commercial
activities. It deals with all the commercial transactions of the trader. The
commercial transactions include the agreements between parties, operational
activities, the delegation of work, financial transactions, memorandum of
associations, etc. So let us understand the meaning of Mercantile Law and its
sources, scope.
It basically includes The Indian Contract Act, 1872 - Summary of Sections 1 to 75 covering the
general nature of the contract, consideration, and other essential elements of
a valid contract, performance of the contract and breach of contract. Secondly the Sale of Goods Act, 1930 - Formation of the contract of sale, Conditions,
and Warranties, Transfer of ownership and delivery of goods, Unpaid seller and
his rights. And lastly The India
Partnership Act, 1932 - General
Nature of Partnership, Rights, and duties of partners, Registration and
dissolution of a firm.
Secondly lastly we have a
subject of General Economics which basically includes the topics such
as introduction to Micro Economics, Theory of Production and Cost, Price
Determination in Different Markets, Micro Economics, Theory of Demand and
Supply, Money and Banking, Indian Economy – A Profile, Select Aspects of Indian
Economy, Indian Economic Development, Economic Reforms in India. and at last
mathematics comes which we generally call the Quantitative
Aptitude and under this Sets,
Relations and Functions, Sequence and Series, Arithmetic and geometric progressions,
Index Numbers, Ratio and proportion, Logarithms, Indices, Simple and Compound
Interest, Equations, Inequalities, Regression and Correlation, Basic
concepts of Permutations and Combinations, Basic concepts of Differential and
Integral Calculus, Theoretical Distributions, Measures of Central Tendency and
Dispersion, Limits and Continuity, Intuitive Statistical description of data,
Sampling Theory Topics are covered and many students face problem under
this subject because many students face problem in solving high calculations.
So far we have discussed
the syllabus of course so it is very important for us to understand the
importance of that why we need to opt for test series to get the best result,
first let us discuss the passing criteria for the same to qualify the CA Foundation
exam, candidates need to secure minimum 40% marks in each paper and an
aggregate of 55% in all four
papers.
For subjective questions there
is no negative marking. But for objective questions, ¼ marks will be deducted
for every wrong answer. So students need to practice a lot to get the desired
result. Many aspirants may have this in their mind that why should they do the
preparations from the mock test? Is a mock test vital to prepare for CA exams?
Well, the major cause for taking any mock test is to know the current
preparation level, what will be the difficulty level of the question paper, and
to get an idea about the questions that are likely to be asked in the exams
Also, those candidates can get knowledge of a complete exam day environment.
For the preparations even
Institute of Chartered Accountants of India (ICAI) provides official mock tests
that help the CA Candidates for May
2022 and Nov 2022 Mock tests are
made available for all three levels - CA Foundation, CA Intermediate and CA
Final by ICAI. Now let us discuss the importance of writing mock test for the
upcoming exams now.
Firstly with writing the
mock test students would able to understand the Time Management Candidates must
keep in mind that they have to solve 100 questions in a limited duration. There
is no restrictions that to solve questions with any specific section.
Candidates must keep in mind the allotted time, questions to be solved and
average time taken in solving each question.
Many candidates are confused
whether to appear in a mock test or not. Is a mock test important? If yes, how?
Studying too little in a day is as harmful as studying too much the next day
out of guilt. By effectively dividing your time between studies, sleep, and
leisure, you make sure the timetable you follow is balanced and most of all,
sustainable over a period of time. His will inspire you to achieve more by
setting higher goals and attaining them too.
If you consistently
adhere to the timetable you have set for yourself, you’ll automatically wake up
on time, study on time, go to bed on time, stay away from temptations, and be
persistent in your efforts and moreover When your schedule is planned down to
every minute, and you make sure things go according to plan, it won’t be long
before you start feeling a sense of calm satisfaction. This quiet fulfillment –
at having the power to take charge of your life and lead it correctly – will
soon begin seeping into your consciousness, filling it with positivity.
Doing practice more with
mock test series helps to Acquire Tricks and Shortcuts of Solving Questions to
acquire an understanding on how to solve such objective questions in the CA
exam, candidates can learn different ways and tricks
of solving challenging and demanding questions in advance and can win
from other candidates by scoring good marks. This can be done only when we
explore our self and experience the best outcome with using of mock test
series. For example in the quantitative aptitude subject there are many hard
and complicated sums which are seems to be very complex but it can be achieve
very easily when we have sharp mind to crack the answer with the simple tricks,
this can be done very easily by taking the mock test and can take the knowledge
from the experts. But yes side by side proper practice is also very essential.
Not only online test series helps to saves
time, but also very reasonable. It
is much cheaper and easy than taking up manual test. Sometimes, online mock test are available for free
also for the trails and if you are taking up the online test from your
doorstep, then it can even reduces your travelling costs too. By registering
for an online test series, they will have access to thousands of test questions
prepared by expert faculty covering different subjects related to the competitive exam students will be
taking along with other aspirants with the same pattern as it would be given in
the real exams.
And most importantly at
the foundation if they get an idea and the importance of test series then for
the upcoming levels they don’t have to bother for the inter and final level,
This will give you an idea about the exam pattern and would force you to
practice within the given time frame.
Students would have an extra time to weak areas on a daily basis rather than in
one go that will go simultaneously with the final and inter level.
So at the end we can say that
choosing the write test series is very essential but it is very important which
test series we are going with as we know market is flooded with lots of test
series but the one that would give you an effective results is the first thing
that would help you to cover your entire syllabus, GM TEST
SERIES helps the students
to get the guidance from the experts regarding time management, shortcuts, an
idea of the exam pattern and many more,
This would definitely
help the students to achieve their desired results and can fulfill the dream to
become CHARTERED ACCOUNTANT.
Register Now : https://gmtestseries.com/
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