Should You Continue CA or Leave It?

A Small write Up For CA Foundation Students who cleared and also for those who failed.
Many CA Foundation Students are asking me questions like:

  • "Sir, should I drop CA?"
  • "Sir, I have cleared CA Foundation, but I want to do MBA, what should I do?"
  • "Sir I have failed in CA IPCC again, this was my 5th attempt."
  • and many more....

I will try to address the issues mentioned above in this blog,
First things first, there is no common solution for this. I will try to give you a framework that can help you in taking this tough decision.
Sit down with me and write out the things which I am going to discuss.

IS THIS COURSE FOR ME?

Skill Assessment

Evaluate the kind of skills it requires, evaluate what interests you have, Check the jobs, entrepreneurial, intrapreneurial and other options available after becoming a Chartered accountant.

Mentors & Guides

Don’t take suggestions or guidance from those who are obsessive about the CA Course. Try to find mentors and guides who can tell you the reality without being biased or with minimum biases.

Campus Placement

Also, check the campus placements of CAs. Don’t forget to check out campus placements, this will give you a fair idea about the type of jobs and remuneration, Check whether you can get similar jobs or better profile by doing/pursuing other courses/qualifications which are less time consuming and more real-life work-oriented.

WHY AM I FAILING?

Not Studying

Give yourself one more chance and give your best. Study from ICAI study material, give as many mock tests as possible, revise as much as you can and you will clear it.

Not interested in the course

No interest in the course – You may look for other options. Start searching there are many options.

Giving my best but still not getting marks

You feel like you are giving your best, still, ICAI is not giving you marks.

Human Judgement

Let me tell you one thing, upfront, Yes there are issues in the checking mechanism of ICAI, specifically in subjective papers, some of them are inherent in the checking system which is followed by many universities and professional institutes like ICSI, ICAI (Cost Accountants). I call it the involvement of human judgement.

Suppose I give the same papers answered by the same students to two different examiners (those who will check papers), I can reasonably say that they will give different marks to the same student’s same answer.

Non-availability of Marking Scheme

Another thing which I think is not in favour of students is not giving the marking scheme publicly, this will solve many problems for students and ICAI as well. Now, be clear about what you are dealing with. This will be there and the first matter of human judgement can never be completely eliminated, it can be reduced and we must appreciate that ICAI is taking steps for this.

Given that, now decide whether you are OK with the above two known issues, if yes please continue and don’t ever cry for this because you are choosing this even after knowing it.
Knowing the reason for failure will help you in deciding whether to continue it or not.

Please don’t fall for traps like:

  • Oh! You failed, welcome to CA, “Yahan aisa hi hota hai”
  • “I know one person uska 10 Attempt mein hua tha”
I simply don’t understand the reason of glorifying failure without understanding the real reasons or the mindset of the person failing in this particular exam.

LEAVING CA AFTER CLEARING OR FAILING IN FOUNDATION

  • Understand that leaving CA after clearing or after failing in CA foundation is not equal to failing in your professional life.
  • Don’t overburden yourself with negative thoughts at all.
  • Ignore what others will say.
I have seen many students leaving CA even after clearing foundation or CA Intermediate

Reasons for such students for leaving CA

  • The time involved in articleship and clearing CA finals
  • Good opportunities after graduation from a good college, getting better packages from CAs, even after graduation only.
  • Going for an MBA or preparing for UPSC etc.
If you are leaving CA after failing in foundation and the decision to leave CA is an informed one by taking consideration of all the factors such as
  • Time
  • Your Interest
  • The approach of studying (Mugging Key Words To Get Good marks)
Then, you’re not doing anything wrong. The main purpose is to grow and succeed in life and this can be achieved by pursuing any other course or any other career option as well.

Clarification on Mugging Up

Please understand I am not saying that only mugging up is required to clear CA exams, you will still have to understand the concepts. But given the current system, even the Rank Holders and Top Scorers of CA exams admit that ICAI gives marks only for writing the answers which match answers of the study material of ICAI.

Moderate Assurance of Clearing CA Exams

Before concluding this post, I would like to say that there is a huge amount of Uncertainty in CA, as there is no reasonable assurance of clearing CA final exams. There is only a moderate or limited level of assurance. In conclusion, I want to say that you joined CA Foundation without knowing the kind of job and other opportunities available. Various alternatives are available in terms of the factors discussed above. It all depends on your interest areas, your personality type, your skillset and your decision.

If you want me to cover write about those alternatives, let me know in the comments, I will try to compile a blog post/article for that too, to help you make an informed decision.

If you're in Class 12 or recently Cleared your Class 12, then you can watch this video of Alternate Career Options After Class 12

ACCA After Class 12 | All About ACCA | Neeraj Arora

ACCA is not that popular in India because students don't know about the scope of ACCA in India.

This video will clear your doubts about the Scope Of ACCA In India - Scope of ACCA in India & Beyond | Is ACCA Degree Worth Pursuing For A Career In Finance? | Learn91

So if you are making a well-thought-out decision on the basis of the factors discussed above, you will make a good decision.

If you have decided to leave CA and are looking for other career options in the field of Finance, you must check out this video - ACCA After CA Inter / IPCC | Neeraj Arora | Leaving CA?

My best wishes are always with you.

Love 

Neeraj Arora

Neeraj Arora

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