What should I do to overcome CA exam failure?
How should I deal with it?
In fact, in today’s article, Sumit Dawar shares with us his journey becoming a CA and how he failed 8 times before finally clearing his exams and becoming a Chartered Accountant.
Sumit is a qualified Chartered Accountant from ICAI (The Institute of Chartered Accountants of India).
He loves traveling and exploring new places. So if you need any travel tips or alternate career advice he is the best person to speak to.
You can connect to Sumit on Facebook at – Sumit Dawar.
How I took 8 years to become a Chartered Accountant
Most students slip into depression, give up on education or their dreams, or take some extreme step after facing failure – But NOT ME.
My CA journey started in 2005 after I completed my 12th standard and continued till 2014 when I finally became a Chartered Accountant.
To become a CA from ICAI, one has to clear 3 level of exams and 3 years of articleship. The three levels are:
- CPT (1s level CA exam): I cleared in the first attempt. This is usually MCQ based and quite easy.
- IPCC (2nd level CA exam): I cleared in the first attempt as well. IPCC consists of two groups – Group 1 & Group 2. Each group consists of different subjects. In total 7-8 subjects like Accounting, Audit, Tax, etc.
- CA Final: This took me 8 attempts to clear, yes EIGHT ATTEMPTS.
Well, it obviously wasn’t easy for me emotionally and mentally.
I was a topper in my school and suddenly failing so many times used to make me doubt myself.
It was tough to attend family functions with everyone asking me the same question – BETA CA HO GAYI. They looked at me with those eyes of being lazy or being dumb.
Some of them would indirectly tell me that I was not giving my best.
What they did not know is that I was studying really hard for 3 months before every attempt and was always short of 1 or 2 marks to pass the exam. I suffered several health issues due to stress.
My parents suggested that I quit CA. They were super supportive, but something in me wanted to complete it. Being the son of a Defence Personnel, I could not think of giving up!!!
There were days when I felt like quitting CA.
However, the fact that I cleared CPT and IPCC exams in one go, completed my 3 years of articleship and just had one more exam, I kept chasing CA with the HOPE that this attempt might be my last attempt!
Finally, after 8 attempts I cleared my CA Final exams and became a qualified Chartered Accountant.
Life Post CA Qualification
Today I have my own CA firm, I travel around and currently working on my travel blog.
I discovered my love for traveling during my articleship, so that’s a big thank you to CA.
After every failed attempt I would take a short trip and discover the real me.
My goal is now to travel the world and live a content life.
My biggest advice
- The most important thing – Work on your mind. Sometimes mental blockages could cause repeated failure.
Who should pursue CA
- One should know what one wants from life. If pursuing Chartered Accountancy is the means to ACHIEVE YOUR MAIN GOAL then chase CA else chase what leads you to your goal. Following this route, you will achieve what you want in life easier and faster.
- For example: If you are struggling with CA exams and your main goal is to move to another country/work in a Big 4 Accounting firm then you can consider CPA(US), CPA(AUS), ACCA or even do some specialized courses. There is no point in getting depressed and stuck. So your aim should be on your GOAL. Do whatever it takes to reach your end goal.
- Moreover, when you get registered in a CA firm sometimes you have to deal with the same clients for 3 years during your articleship (Bank audits in my case) because of which I got very less exposure in taxation.
- So my suggestion is to always SEEK AND ASK for a variety from Audit to Taxation to everything during your articleship period so one gets an overall exposure.
Was my struggle worth it
- I overcame the fear of failure etc but those years when I kept failing and kept giving my exams made life very difficult for me. When I think of my journey today, maybe I should have pursued CPA or ACCA instead of struggling so much. But no complains – CA has made be very STRONG.
What did CA give me apart from the two words ‘CA’:
- CA has given me the COURAGE to overcome the fear of failure
- CA has TAUGHT ME that luck also matters but luck will be in your favor ONLY if you continue working hard because in the journey of success there are no shortcuts.
- In the end, I want to be known as a man who never failed because I never accepted my failures.
Now it is your turn!!!
I would really like to know if you have faced any struggles?
What are your struggles and how do you deal with it?
Tell me about it in the comments section below. Thanks.