Wednesday, 22 August 2018

Why should you prefer Mutual Funds - I

We all have dreams and money certainly goes a long way to provide for those dreams. And, who doesn't dream of being financially free and/or independent?

We all look for best avenues for investments, according to our Savings, budget and financial goals.

While we look out for investment options, rate of return is of prime importance and if history is an indication, the Indian Stock Market has delivered the best returns. In other words, "EQUITIES" as an asset class has proved to be the best investment option. 

Historically, NIFTY 50, the benchmark Indian Stock market Index has delivered approx 16% return, annually over the past decade. This number, clearly, beats all the other asset classes. 

And the best way, to be an investor in the same is Mutual Funds.

Now the most important question, why Mutual Funds?

Saturday, 15 July 2017

GST Registration

Under any taxation law, registration is the most fundamental requirement.  All the taxpayers are identified from the unique number allotted to them by the concerned tax authorities at the time of obtaining registration. A registered taxpayer is entitled to collect taxes from his customer and pass on the credit of such taxes to the purchaser/recipient on goods/services supplied to them.  

Tuesday, 11 April 2017

ICSI: Foundation New Syllabus Announcement

The Institute of Company Secreatres of India (ICSI) has announced new syllabus for the foundation program.

Click here for the notification

Friday, 31 March 2017

Jeff Bezos: The Second Richest Man on the Planet

Jeff Bezos, founder and CEO of Amazon, is now the second richest person on the planet.

On Wednesday, his personal fortune jumped to $75.6 billion following a rise in Amazon's stock. He eclipsed legendary investor Warren Buffett and now stands just below Microsoft co-founder Bill Gates.

While there's no playbook for becoming one of the world's richest individuals, Bezos' career has been marked by risk-taking and learning from failure, and sheds light on what it takes to be incredibly successful.

Wednesday, 9 December 2015

Is there anyone on Quora who has done CA, CS and CMA? How did he do it? What are the career prospects after it?

Hi! I completed the courses of BFIA, CS, CMA and CA.

About how I did it: I happened to take all four of these courses' entrances after finishing my 12th CBSE Board exams and managed to pass the foundation exams for all. During my undergraduate program, I kept trying to take the intermediate exams of all these courses whenever I could find the time. As I did not have a lot of time to spare, I couldn't take tuitions and relied completely on self-study. Gradually, I cleared these exams one after the other. What really helped is the fact that a lot of the subjects are common to all courses. The core idea is to keep the faith and just keep trying. The thought of tackling all these courses simultaneously seems intimidating, but you have to focus on the next set of exams at hand without worrying about the exams that will follow.

About career prospects: I am currently practicing as a Chartered Accountant. You may decide to look for a job in one of the Big 4, or in the industry or whatever pleases you. Remember, your degree is only a passport to get you in the field of work. What you make of it depends completely on your own goals and how far you dare to dream.

You can visit my Quora profile here.

Thursday, 3 December 2015

Why do we need CA's when softwares can do the work they do?

Why do you need coders when computerized software can do the tasks they do?
Why do we need cooks when ready to eat packaged food is available?

You need a human brain behind a number of tasks that these softwares can perform. And there is always a limitation to the extent to which such tasks can be performed. A simple Income Tax Return may be easily filed by a software. However, you would need a CA to personally look into specific tax matters which are prone to litigation due to variation in interpretation based on different contexts. Further, auditing softwares can perform a number of tasks, which save time and aid in audit procedures. However, an intelligent person may find ways to override the validation tools employed by a software. You would need a human brain to intervene and do what the software cannot.

I would hope for a world which is so advanced that machinery and computer can do all tasks that humans can. However, the pros and cons of such a situation make for another debate.

Wednesday, 2 December 2015

Which are a few recommended books for Accounting Standards in CA Final?

I would recommend either of the following two, based on which suits your style better:

1. Padhuka's Book on Accounting Standards for CA Final:

Wednesday, 25 November 2015

Are Indian CA's dependent on article assistants to a great degree?

I'm assuming that you are talking about dependent in terms of manpower.

Well, I guess they are, and there is absolutely nothing wrong about it. With rising number of CA students in the country, there is a continuously growing number of students looking for articleship training to learn the practical application of the Chartered Accountancy curriculum. The CA's in practice find these students as an inexpensive source of manpower, and the students get an opportunity to learn in return. To me, it looks like a win-win.

But, of course, a CA firm would need permanent employees to grow its business as the articled assistants will leave in three years, after their training period is complete. So, trained administrative staff is important to ensure smooth functioning of operations.

As a young Chartered Accountant in practice, there are a number of assignments that I take only for the learning that will come through performing such tasks. I would suggest that the articled assistants also look at the work opportunity available before them as a tuition-free platform to hone their skills so as to become better and more competent CA's in the future.

Monday, 9 November 2015

How much money do I need to pursue the CA course?

The total fee charged by the ICAI at various levels of the CA program right from Registration for CPT to taking your Final exams and pursuing all your mandatory training programs does not total up to more than Rs. 65,000.

However, a number of students (a good majority now) spend on tuitions and coaching, the expenses for which will depend on the number of subjects you take coaching for. However, one can do it through self-study, as has been my personal experience. You may spend a little more on additional reference material or books from the market, but that again should not go beyond Rs. 15,000 for the whole program.

So, all in all, the course is one of the most inexpensive professional courses to pursue in the country.

I have not taken into account the stipend you may receive during your articleship and the expenses you may incur in travelling to and from office, or living in another city to pursue your articleship training as these vary from person to person to an extent where one person may spend Rs. 10,000 per month on rent, food and travelling while another may spend not more than Rs. 500.

Hope this helps.