Financial Management & Strategic Management (FM-SM) Revision Strategy 2024 Exams
Financial Management (FM) and Strategic Management (SM) require a balanced approach between quantitative problem-solving skills and conceptual understanding. Here’s how to effectively revise FM-SM:
Focus on Key Areas
Financial Management (FM)
Category A Topics (25-30 Marks)
These are usually practical and heavily weighted in the FM SM exam. Focus on chapters like:
- Capital Budgeting
- Working Capital Management
- Ratio Analysis & Financial Analysis
- Leverage Analysis
Category B Topics(20-25)
These chapters offer moderate weightage and include:
- Cost of Capital
- Financing Decisions – Capital Structure
- Dividend Decisions
Strategic Management (SM)
Most chapters in SM are conceptual and range between 8 to 12 marks. Focus primarily on the first four chapters, which generally cover the majority of the questions in the exams.
Practice and Repetition
- Past Exam Papers and ICAI Materials: Make sure to practice questions from past exams and utilize ICAI’s RTPs and MTPs. This will help you get accustomed to the types of questions and the complexity level.
- Utilize Revision Charts: Revision charts or summaries can help condense large amounts of information into manageable formats, aiding in quick revision sessions.
Emphasize on Practical Application
- Numerical Problems: For FM, practice as many numerical problems as possible, focusing on capital budgeting and working capital management, as these are commonly tested areas with practical problems.
- Theoretical Understanding: For SM, ensure you thoroughly understand the concepts as they are key to scoring well in the exam. Regularly revise strategic models and frameworks.
Prepare for MCQs
- Strategic Preparation for MCQs: Use apps or ICAI’s provided resources to practice MCQs. These questions can often be tricky, so practice regularly to ensure you understand the nuances.
Exam Day Tips for FM-SM
- Plan Your Answers: Read the questions carefully during the initial 15 minutes to plan which ones to tackle first. Start with the questions you are most comfortable with to build momentum.
- Manage Your Time Effectively: Aim to complete MCQs in 45 minutes, allowing ample time to tackle descriptive questions methodically.
- Avoid Time-Consuming Topics First: Focus on high-scoring, less time-consuming questions before moving on to lengthy problems.
Read Also:
Cost & Management Accounting (CMA) Revision Strategy 2024 Exams
By adopting these strategies tailored specifically for FM-SM, you can ensure a comprehensive revision that covers all crucial areas. Stay consistent, practice regularly, and approach each subject with a clear plan to maximize your performance in the CA Inter FM SM exams. Good luck!
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