CA FINAL SCMPE PREPARATION STRATEGY

1. BEFORE THE EXAM –

To start with the CA Final SCMPE Preparation Strategy, firstly you can revise the concepts of Cost and Management Accounting (CMA), and Strategic Management (SM) studied by you at the CA-Intermediate Level. It will help you clear your base and understand the subject more deeply. Thereafter, you can either go for self-study or can take classes from the best faculty, because in this subject, some tricky case studies are asked which can be tackled only when the subject is understood deeply under proper guidance. However, proper revision of all the concepts and important questions should be done. The first option will take you approximately 400-500 hours while the second option will take approximately 350-400 hours.

Related: CA Final Course 2024

The following tips must be considered while studying and revising this subject: 

1. Watch video lectures with appropriate validity and views such as 1.5 or 2 to help you revise the important concepts and important questions. 
2. Be regular with your classes, even though you are studying at home.
3. Make proper short notes which you can revise from time to time or buy a Revisionary Pocket Book.
4. Buy the video lectures and the books which cover ICAI study material, Practice Manual, RTPs, MTPs, Past Year Papers, and a lot of Case Studies.
5. Solve as many questions as possible, especially case studies. This will improve your speed and presentation.
6. While revising the subject, fix daily targets and give time to each topic as per the length and weightage.
7. Make sure that you solve the latest RTPs, MTPs, and past year papers of ICAI.
8. Solve 2-3 papers in time and get them checked to see your mistakes.
9. One day before the exam:
   1. Revise the concepts thoroughly from short notes or Pocket Book,
   2. See the important and tricky questions., and
   3. Don’t touch any new topic.
10. DURING THE EXAM –

CA Final SCMPE Preparation Strategy also includes the tips to be followed at the time of giving the exam. When the invigilator hands you the paper, have confidence in yourself and your preparation and follow the given tips: 

1. In the first 15 minutes (reading time), read all the questions and choose the question which you will leave in option.
2. Prioritize the other questions in order of the confidence you have in them. 
3. Try to avoid cutting on the first two pages of the answer sheet.
4. If you are stuck anywhere, don’t waste time on it. Move ahead with the next question. 
5. Don’t leave any answer blank. Write whatever you know about the concept.
6. While answering case studies:
   1. Prepare a plan for each issue and decide what models to use.
   2. Identify alternative actions which could be taken.
   3. Give a detailed analysis of the issue.
   4. Conclude with recommendations. It should include what, why and how.

By following the above CA Final SCMPE Preparation Strategy, you will be able to score extraordinarily good in this paper. Also, try to enhance your knowledge during articleship as well. And, always remember the key mantra of success – 

“Plan your work and work your plan.”

Now you know how to prepare for this subject but it is equally important to know the objectives of this subject. Why was it introduced in place of Advanced Management Accounting (AMA) in the Old Course? How will it help you in your professional life? 

SCMPE has two parts – SCM & PE. It is an advanced study into the subjects of CMA and SM which you study at your CA-Intermediate Level. The main objectives of SCMPE are as follows:

• To apply various cost management techniques for planning and controlling performance in order to set, monitor and control strategic objectives.
• To develop skills of analysis, synthesis and evaluation in cost management to address challenges and issues which might affect or influence the management of performance within organizations.

This course replaced the AMA Paper to enlarge the scope of study in the following way:

• Introduction of case studies.
• New practical topics related to cost management in agriculture, IT and power sector.
• Shifting of ABC to an advanced level.
• Addition of sensitivity analysis questions in pricing decision. 

After reading the importance of this subject, we believe you will have more interest in learning it now.

All the best!