Why the Training Needed?? In context of CA course
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1) Articleship provides numerous advantages over not pursuing training, including gaining practical knowledge of business, communication skills, dealing with clients, and understanding taxation. 2) While some argue extra study time is a benefit of not doing articleship, practical exposure is essential for developing skills that cannot be learned from books alone. 3) Pursuing the rigorous CA course and clearing all levels requires persistence, but it develops critical skills in accounting, law, and taxation that have enabled many successful business leaders. The training gained through articleship is invaluable.
Why the Training Needed?? In context of CA course
- 1. Unlock Your Own Creativity: Importance of Articleship And Industrial Training The Beginning These are those w onderfulyearsin ones’life that are alw ays admired later. The importance of articleship can be easily “reflected”, during first 2 minutes of interview, interview er can easily identify whether or not you w e have training rightly. ARTICLESHIP VS DUMMY This has always remained a matter of discussion that whether one should pursue his training or go for dummies, simple answer is that, if I try to figure out the advantages of articleship, they are in abundance, but disadvantages of not pursuing the same is only having extra time to study MERITS OF ARTICLESHIP DEMERITS OF ARTICLESHIP Knowledge of Business Extra time to studies….. Communication skills The only benefit, If I do not pursue articleship Dealing with Babus Taxation, how to build clientele. ……. And numerous other advantages “Swimming can never be learnt by reading Magazine, or watching video over “how to swim”, one has to go to the pool and apply his hands, similar thing goes with articleship, practical exposure is what required, and remember the “Judgment of the interviewer, you will be judge in two minutes”. We have some of the great examples w ith us Kumar Mangalam Birla, a Chartered Accountant, quoted during an interview that; "I never wanted to become a Chartered accountant," "My father was keen that I become one because he thought that was the right thing for me to do. I didn't have the courage to tell him that I don't want to do it. But now I can't thank him more for having put me through it." He also revealed that A thorough understanding of accounting, the criticality of figures, getting a perceptive on law and taxation, have enabled him delve into issues in an in-depth manner. The rigour that the CA course demands is in itselfa huge learning. This all knowledge can be gathered through training only. “Source – http://www.adityabirla.com/Media/press-reports/The-rigour-that-the-CA-course-demands” # Chartered Accountancy A rigorous course and expectations This course involves self study, as coaching classes are bit expensive, the CA programme is intensive and clearing all three levels,needs persistence, to clear this course one has to understand the true requirementofthis course,i.e., “what does this course expect from us” or indeed whatdoes this country expects from us ,we are in demand notbecause we are much capable butbecause “our Institute of chartered accountanthas earned so much respectfor us”,we being the brand ambassador our profession need to carry the same legacy. !!!Recent trend in exams!!! More and more questions are being asked based on our practical experiences ofarticleship e.g.,asking aboutnew feature on MCA21 portal,thus, we need to consider articleship very seriously,our institute giving more and more emphasis on articleship and qualityof chartered accountants for this country.
- 2. Unlock Your Own Creativity: Importance of Articleship And Industrial Training What we gain from the articleship? No doubt, we get immense knowledge about this business world, we get to deal with people, handle complex situations and have to overcome such. Imagine, a college going student is still busy in preparing his final semester notes which too are copied from other person.We are way ahead @ If we compare our training with any other profession, this sometime appears rigorous, but keeping in mind the value of our “Chartered accountancy course” it is important to gain such experience. What we gain normally is can be expressed as follows Audit. Accounting. Communication Skills. Dealing with Babus. Taxation matters. More Now, we all are agreed over the value of articleship, but before one join the articleship, believe me, my dear friends, these questionsneedsanswers: What are the things to focus during articleship? Should I join Big Firm, or small firm? What is more important? Work or stipend? Audit firm/ Tax firm/ or Merger and acquisition, which type of firm to join? Should I go for Industrial training? & this list is endless. Yes this is true that everyone goes through phases and tries to explore answers of all above questions, try answering yourself first, what you think about such situations and then look further…!! If you disagree, share your disagreement with me; Question-1 Student: What are the things to focus during articleship? Me: Frankly Speaking, we need to focus on our exams, Student: What exams??? What about the work… Me: Relax… I am talking about the work only, but with the focus to clear exams, this articleship is our biggest tool which can help us to clear our exam in one go. In-depth knowledge of processes we go through during work and relating that to subject studied. We need not to cram each and everything. “We can learn by doing it.” E.g., if we are working on audit, we can easily learn AS-22 or AS-15, what we need to do is to handle it in such a way that we can re-produced such during exams, Understand… Understand and Reproduce
- 3. Unlock Your Own Creativity: Importance of Articleship And Industrial Training Question-2 Student: Should I join Big Firm, or small firm? Me: This is like a two faced sword. Both have their pros and cons. Let us be crystal clear- If you want to actually "learn" the basics of chartered accountancy, tricks of the trade, street smartness and direct dealing with clients from scratch to end, then a reputed local firm is the way to go. The exposure is limited but what you may earn is a varied experience of PSU, Bank and private audit. Going for a local firm will help you and you will realize that when you sit for your exams 3 years from now. Coming on to the other option, big 4 have their own perks. Obviously, the money is good (if that is one of the considerations), the travelling is fun and exposure is widened. The clients are giants and more sophisticated and you get polished as well throughout the articleship period. However, since there is a huge manpower in these companies, you rarely get a chance to handle a particular audit right from scratch till the balance sheet is finalized and most of the times you don't even know how to make a balance sheet. You can take your decision based on this and the opinions of some experts. Question-3 Student: What is more important work or stipend? I believe “Learning is the Best Earning” Me: Sometimes, I wonder when I attend students’ conference or convention, stipend has always remained a matter of discussion, I remember last year quote of CA Piyush Goyal, Minister of power, when he urged during convention 2015 to raise stipend. What I feel is, this should be stopped, I still remember, when I used to go college, Rs.500 a month was my pocket money, well during articleship I was getting minimum Rs. 2,000 a month, this was enough for me, I used to save out of this even, Student: This should be increased, don’t you think? Me: Yes, this should be increased keeping in mind the inflation, but we should maintain minimum stipend for a reason which is keeping in mind growth of the profession. Imagine you being Associate Chartered Accountant (ACA) who has to set up his practice, “how much stipend he can afford should be the point to think from and then decide the level of stipend.” In any case we have options to go those CA firm which pay higher stipends if money is the issue. Thus, I believe, work is more important in any case.
- 4. Unlock Your Own Creativity: Importance of Articleship And Industrial Training Question-4 Audit firm/ Tax firm/ or Merger and acquisition, which type of firm to join? Me: We need to pass CA final exam which consist of eight papers, only exposure of taxation (e.g.,) will not help, so do of only auditing, we need to taste every bit, and remember, learning is eternal, articleship is the base, and we cannot suppose to have expertise during articleship. We need to join such firm, which provide diversified experience. We can find our specialization during last year of our training or during Industrial training. Question-4 Should I go for Industrial training? Me: One should be able to judge after going through the benefits out of Industrial training, being there in Cosmo films limited, during the last year, I can describe the following benefits Importance of Industrial Training, what benefits does it provide? Learning about Office culture, ethics, politics, and behavior. Interdepartmental working. How to present better in board meeting. How to plan for an organization. Most companies have SAP culture, getting to know about this ERP software. Preference over job, as company prefers those who is aware of working culture of that particular company and appointment even at higher perks. Specialization, job seeker, I believe, if our institute has given us this opportunity to be there into industry, we should grab it, even if we are planning to setup own practice, remember need to handle large clients at later stage and we must be aware of their working culture. Further for the job seeker Industrial training if always a welcome step. “Remember always walk through in life if you have something new to learn, and you will” Training not just develops our thinking but also make us compatible with the requirement of this world, if we are skipping such. We are skipping our development. Make you tough and pursue your training sincerely. This is one time opportunity Thank you Himanshu Rastogi