ICWAI Preparation Tips

ICWAI aspirants have to clear the ICWAI examinations if they wish to become Cost and Work Accountants. The ICWAI examinations are conducted by the Institute of Cost Accountants of India based on the Cost and Work Accountants Act, 1959. The ICWAI has 3 levels namely Foundation course, Intermediate Examinations and Final Course. ICWAI aspirants get anxious and excited when these examinations begin. These students tend to seek tips that can help them in their examinations so here are some tips.

Tip 1 Know your examination details: students should have all the important information about the exam such as the dates, the syllabus, the marking system. This information will help students to better prepare for the examination.

Tip 2 Practice: for subjects like accounts and mathematics it is absolutely essential for students to be thorough with the concepts. Once students are clear with the concepts then they need to practice as much as they can. They need, “to practice as if they are the worst, but perform as if they are the best”. Applicants can only gain confidence through practice. Once they get that confidence they will be able to perform well and excel in these subjects. Refer to previous years questions papers to get familiar with the examination pattern and to find out the important topics. It is preferable to study all the topics so that you can perform better.

Tip 3 Revising and Repetition: candidates can improve their memory by using various techniques that can help them. Revising whatever one has learnt at regular intervals, repetition has proved most effective. Apart from revising the concepts studied they can even discuss the topics with their friends. Through this activity students are reassured of the matter they have studied and helps them to realize if they have any doubts, it also rectifies the information if it is incorrect.

Tip 4 Use Mnemonics: these are memorizing techniques that can definitely help students to remember concepts learnt well. These are clues that help individuals to associate the information they want to remember via images, sentences and words. Some examples of mnemonics are visual images, rhymes and alliterations, acronyms, method of Loci, chunking etc.

Tip 5 Note making and note taking: when students study it is preferable that they make note of things or concepts that are important, using stick-on notes or noting the points down in the text book beside the topic allows students to revise these topics fast. If students take notes effectively from the professor it helps in recollecting what has been taught.

Tip 6 Use Diagrams and Flow Charts: while preparing drawing diagrams such as tree diagrams or flow charts helps in organizing the matter and students derive clarity in the topics studied. This ensures that the points are learnt and memorized well.

Tip 7 Use all Senses: students should make use of all the senses while studying as this ensures that the matter is learnt completely. For instance read aloud and rewrite the points studied as this will ensure that the topic is studied. This is probably why teachers make students recite what is learnt in class.

Tip 8 Keep Distractions away: when studying it is important for students to pick a quiet place to study without any distractions. Applicants should keep cell phones away from them and restrict themselves from spending way too much time on Social Networking sites. It is important that students ensure that they focus on tasks that need to be completed rather than engage themselves in unnecessary tasks. If students insist on spending so much time on social networking sites then this is procrastinating behavior which needs to be avoided as far as possible because it affects performance.

Tip 9 Use Time Tables or Calendars: candidates should create Time Tables to allot a certain amount of times for each subject as well as for all the tasks that need to be completed on time. Making use of Calendars helps students to realize what all tasks need to be completed and by when, thus enables them to plan accordingly.

Tip 10 Health Matters: it is essential that students eat a balanced diet; get enough sleep and most importantly exercise because both the mind and body need rest and exercise refreshes students.