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- Are you not getting success after so many failed attempts in CA? How do I overcome failure in the CA final exam? How should I deal with it and overcome the fear of failure? Questions like this hit almost every CA student’s mind.
- Hi! I am Sumit Dawar a qualified Chartered Accountant from ICAI (India). My CA journey started in 2004 after I completed my 12th standard and continued till 2014 when I finally qualified as 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.
- Here is my journey of how I failed 8 times before finally clearing the exams. And was all this worth it?
Overcoming Failure and Achieving Success After 8 Failed Attempts
Growing up I was very good academically. When it was time to decide on a career I chose to pursue Chartered Accountancy from ICAI (The Institute of Chartered Accountants of India).
To become an ICAI CA, you must first pass three levels of exams and then complete three 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. The IPCC is divided into two groups: Group 1 and Group 2.Each group consists of different subjects. In total, 7-8 subjects like accounting, audit, tax, etc.
- CA Final: It took me eight attempts, yes, EIGHT ATTEMPTS, to pass this.
I cleared the CPT and IPCC exams (aka PE-1 and PE-2 back then) in one go, completed my 3 years of articles, and just had one more exam, the CA Final, to become a Chartered Accountant.
Unfortunately, I kept failing these exams. It was obviously not easy for me emotionally or mentally. After all, I was a top student in my school, and suddenly failing so many times created so much self-doubt.
Every time I attended a family function, everyone used to ask me the same question: “Beta CA hogayi.” They looked at me with those sluggish or stupid eyes. 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 by 1 or 2 marks to pass the exam. I suffered several health issues due to stress. My parents were super supportive and suggested that I should quit CA. But something inside of me wanted to finish it, and as the son of a defense personnel, I couldn’t imagine giving up!
There were days when I felt like quitting CA. Despite the fact that I had cleared the CPT and IPCC exams in one sitting, had completed my three years of articles, and only had one more exam, I kept chasing CA in the HOPE that this would be my last attempt!
Finally, after eight attempts, I cleared my CA final exams and became a qualified Chartered Accountant in 2014.
“Was all the struggle worth it?”
Yes and no!
When I think of it now, I could have probably chosen an alternate to CA from ICAI and still gone ahead with my goal of being a successful financial professional. But back then all I wanted was to “overcome the fear of failure and persist,” so I kept pursuing CA.
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 work in your favor only if you continue to work hard, because there are no shortcuts to success. In the end, I want to be known as a man who never failed because I never accepted my failures.
“My Advice on How to Overcome Fear of Failure and Pass CA Final Exams”
The most important thing is to work on your mind. Mental blocks can sometimes lead to repeated failure.
You should know what you want from your life. If pursuing chartered accountancy is the means to achieve your main goal, then chase CA; if not, chase what leads you to your goal. Following this route, you will achieve what you want in life easier and faster.
If you are struggling with CA exams and your main goal is to move to another country or 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 your goal. Do whatever it takes to achieve your ultimate goal.
Furthermore, when you join a CA firm, you may have to deal with the same clients for three years during your articles (bank audits in my case), so I had very little exposure to taxation. So, my advice is to always seek and request variety, from audit to taxation to everything, during your articleship period, so that you get a broad range of experience.
wrapping it up…
If pursuing chartered accountancy is the means to achieve your main goal, then chase CA; if not, chase what leads you to your goal. Following this route, you will achieve what you want in life easier and faster.
Today I have my own CA firm, I travel around, and I am currently working on my travel blog. I discovered my love for travelling 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.
