Interviewer: Today, we have the pleasure of speaking with Nandini Agrawal, who created history by achieving All India Rank (AIR) 1 in the July 2021 CA Final Exams at the young age of 19. Nandini, thank you for joining us.
Nandini: Thank you for having me!
Interviewer: To start, could you tell us a bit about yourself and how you managed to become a CA at the age of 19?
Nandini: Certainly. I’m from Morena, Madhya Pradesh, and my journey to becoming a Chartered Accountant began when I cleared my CPT in July 2017. I continued to achieve AIR 31 in the CA Intermediate exams in May 2018. Finally, in July 2021, I secured AIR 1 in the CA Final exams.
My journey began when I decided to pursue CA at the age of 15. It was a family-influenced decision, given that my father is a tax practitioner and my grandfather is an LLB, even though none of them is a CA. The field’s potential, coupled with the absence of reservations and the opportunity to start one’s practice, drew me to the profession.
Interviewer: That’s quite an impressive journey, Nandini. Can you share your immediate reaction when you found out that you had secured AIR 1?
Nandini: It was an incredible moment. In our family, my brother checks the results for both of us, and he first checked his result and then mine. When I learned that I had secured AIR 1, I was literally jumping and screaming throughout the house. My parents and I had tears of joy. It took me about a week to truly believe that I had achieved AIR 1.
Interviewer: Did you also receive a call from the President of ICAI, considering your remarkable achievement?
Nandini: No, they discontinued that practice from January 2021.
Interviewer: As a young achiever, you must have had sources of motivation during your journey. Could you share who inspired and supported you the most?
Nandini: It wasn’t just one particular person; it was a collective motivation. My parents had a dream that I should become a CA ever since I was in the seventh standard. This dream materialized after I completed my 10th grade and chose commerce with mathematics. My brother and I studied together, and this healthy competition drove us to do our best. When I secured AIR 31 in the CA Intermediate exams, people around me told me that if I could achieve a rank once, I could do it again. The pressure and motivation combined to push us to excel.
Interviewer: Were there any subjects that posed challenges for you during the CA exams, and how did you overcome them?
Nandini: In the CA Intermediate exams, I faced some difficulties with the Audit subject. However, I overcame it through extensive practice with mock test papers and ICAI RTPs. During the CA Final exams, the subject that troubled me the most was SFM because the papers in November 2020 and January 2021 were quite challenging. There was a constant fear about the type of paper we’d receive. To overcome this, I practiced relentlessly, completing nearly four to five revisions of the SFM compiler.
Interviewer: It’s clear that practice and determination are keys to your success. Were there any subjects you particularly enjoyed during your CA journey?
Nandini: I found FR (Financial Reporting), DT (Direct Tax), IDT (Indirect Tax), Law, and Audit interesting. Understanding the standards of auditing was something I particularly enjoyed. However, it’s essential to learn and internalize these subjects to secure high marks.
Interviewer: Maintaining balance while preparing for multiple subjects can be challenging. Did you allocate more time to the subjects you struggled with, or did you maintain equal focus across all topics?
Nandini: I made an effort to give equal importance to all subjects, with the exception of elective ones. I dedicated around 11 to 12 hours of study time for the elective subject. For the remaining subjects, I maintained an equal balance.
Interviewer: Your dedication is evident. Can you walk us through your study schedule and how you managed your time between various subjects?
Nandini: My journey towards becoming a CA began during my articleship. I adopted a disciplined routine. In the morning, I would allocate one to one and a half hours for classes. After returning from the office, I would study for another half an hour to one hour. This strategy allowed me to manage two hours of study during my articleship, even on days when I had to work overtime.
During the last four to five months leading up to the CA Final exams, my schedule was packed. I would wake up at 8 AM, as I’m not a morning person, and after completing my morning routine, I’d sit down to study. I ensured to take breaks during meal and snack times. Even if I needed a break to refresh, I would incorporate it during meal times. It’s essential to maintain consistency.
Interviewer: Your commitment to consistency and time management is impressive. Can you shed light on the study materials or faculty resources you relied on during your exam preparation?
Nandini: The ICAI study material served as my primary reference. To grasp the concepts better, I attended classes for all seven subjects, except for the elective subject. For the initial readings, I referred to reference books of teachers from whom I had taken classes. However, from the second revision onward, I strictly adhered to the ICAI study material.
Interviewer: As an achiever, you must have a unique approach to presenting your answers effectively in practical and theoretical exams. What advice can you offer to CA aspirants about this?
Nandini: Presenting answers effectively within the limited exam timeframe is crucial. With only three hours and five questions (four for elective subjects), it’s essential to identify the key points that need to be included in your answers. I recommend practicing with Mock Test Papers (MTPs), Revision Test Papers (RTPs), and test series to refine your ability to answer questions precisely within the given time frame.
I believe in having multiple attempts at home for MTPs and RTPs to build confidence. Additionally, taking a test series from a different teacher can provide critical feedback on your writing style and where you need improvements.
Interviewer: Your insights into effective exam preparation are invaluable. The July 2021 exams posed significant challenges, including uncertainties due to COVID-19. Did you ever feel demotivated, thinking that the exams might get canceled, and if so, how did you overcome such feelings?
Nandini: There were indeed moments of uncertainty. In April, the exams were postponed indefinitely, and there was no clarity on when they would be conducted. During those two days of uncertainty, I took a short break to relax. However, I soon realized that it was an excellent opportunity to enhance my preparation. I dedicated myself to solving MTPs and RTPs, which significantly improved my writing skills. In July, a PIL was filed for exam cancellation, and we awaited notifications that might indicate exam cancellations. But I remained consistent in my preparation. I believe that maintaining consistency is key, even in the face of uncertainties.
Interviewer: Your perseverance is admirable. Lastly, what are your plans for the future? Do you intend to start your own practice or work in a CA firm, or perhaps pursue further studies in finance?
Nandini: At this point, my future is uncertain. I’ve received advice from various people, some suggesting that I’m too young to start my own practice or work at a job. I’m evaluating my options. One piece of advice I particularly liked is to follow my heart, and that’s what I plan to do. I can say that, for now, I’m not considering starting my own practice because it’s a permanent decision that can’t be reversed. I’ll explore further studies, such as CPA or CFA.
Interviewer: That sounds like a well-considered approach. Maintaining mental health is crucial for CA aspirants. How did you manage to overcome the pressures and maintain a healthy mindset throughout your journey?
Nandini: It’s essential to have faith in yourself and never feel inferior to others. I’ve learned that hard work and karma are within our control, but results depend on factors like destiny and luck. I have the philosophy that you should do your best and not worry about the results. This mindset has helped me manage the pressure effectively.
Interviewer: Your wisdom on maintaining mental health and self-belief is inspiring. As we conclude, what advice would you give to CA aspirants to excel in their studies and maintain their well-being?
Nandini: To all CA aspirants, my advice is to have faith in yourself. You can do it; you will do it. Balance is crucial, so don’t dedicate all your time to studying. Enjoy life and don’t forget to take adequate rest. A fresh mind and good sleep play a significant role in maintaining your well-being.
Interviewer: Thank you, Nandini, for sharing your journey and insights with us. Your story is bound to inspire many CA aspirants, and we wish you all the best in your future endeavors.
Nandini: Thank you for having me. It was a pleasure to share my experiences and advice with other aspirants!
