Monday, 30 September 2013

Tuesday, 24 September 2013

Chartered Accountants Act, 1949 - Bare Act

  • Click here to download the Chartered Accountants Act, 1949 [As amended by the Chartered Accountants (Amendment) Act, 2011];
  • Click here to download the Chartered Accountants Act, 1949 [As amended by the Chartered Accountants (Amendment) Act, 2006]

Company Secretaries Act, 1980 - Bare Act

Click here to download the Company Secretaries Act, 1980 [As amended by The Company Secretaries (Amendment) Act, 2006]

Monday, 23 September 2013

Steps to become a CMA/CWA

About Cost & Management Accountancy (CMA/CWA)

Career as a Cost & Management Accountant

Cost Accountancy is a professional course administered by The Institute of Cost Accountants of India (ICMAI).

A Cost Accountant has expertise in directing managerial decisions through establishing budgets and standards, assessing operational efficiency, designing Management Information Systems, implementing cost records maintenance systems and procedures, and identifying factors for profit variance.

Cost Accountants in Employment

Many members of the ICMAI are holding top management positions of Managing Directors, Finance Directors, Financial Controllers, Chief Accountants, Cost Controllers, Chief Internal Auditors, CEOs, CFOs in business houses across the country.

Cost Accountants in Practice

Cost Accountants in Practice conduct statutory Cost Audits as prescribed in the Companies Act, as well as other audits as specified under various statutes such as the Excise Laws, Customs Laws and VAT Laws. They also act as management consultants and undertake assignments related to efficiency and operational consultants to manufacturing units in various industries.

Cost Accountants in Education

University Grants Commission (UGC) has notified UGC Regulations on Minimum Qualifications for Appointment of Teachers and Other Academic Staff in Universities and Colleges and Measures for the Maintenance of Standards in Higher Education, 2010 vide its Circular No. F.3-1/2009 dated 30th June 2010.

The Regulations prescribe the minimum qualification for appointment of teaching faculty in universities and colleges in the area of Management/Business Administration. The qualifications specified for the appointment of Assistant Professor, Associate Professor and Professor in the above area and Principal/ Director/Head of the Institution include First Class Graduate and professionally qualified Cost Accountant, among other qualifications, and subject to other requirements including qualifying NET/SLET/SET as the minimum eligibility condition for recruitment and appointment of Assistant Professors.

Cost Accountants in Government Departments

The Central Government has constituted an all-India cadre known as the Indian Cost Accounts Service (ICAS) at par with other Class-I services such as IAS, IFS etc. to advise the government in cost pricing and in framing the appropriate fiscal and tax policies.

Sunday, 22 September 2013

Steps to become a CS

About Company Secretary (CS)

Company Secretary is a professional course administered by The Institute of Company Secretaries of India (ICSI). For the past several years there has been a tremendous growth in the demand for Company Secretaries for the following reasons:

• Companies with a paid-up share capital of Rs. 5 crore or more are legally obliged to appoint a whole-time Company Secretary who must be a member of the Institute of Company Secretaries of India.

• Every Company having a paid-up Share Capital of Rs.10 Lakhs or more but less than Rs.5 Crores is required to engage the services of a Company Secretary in whole time Practice for issue of Compliance Certificate.

• All Companies seeking listing on Stock Exchange are required to appoint a whole time Company Secretary.

• The Companies Act, 2013 has opened tremendous avenues for both practicing Company Secretaries, as well as those in employment.

• Membership of the Institute is recognized for appointment to superior posts and services under the Central Government.

• The CS Course is recognized by various Universities for admission to Ph.D. courses as well as for appointment as Lecturers in Commerce and Management subjects.

The Company Secretary course is designed to give the requisite knowledge and understanding of the modern practice in corporate, financial and legal affairs.

Career Prospects

Corporate Governance is a combination of legal practices, ethics, the best management practices, wealth creation management and foresight. A Company Secretary is the key person, who implements all these in a corporate environment.

A Company Secretary may represent a company to the internal and external stakeholders, coordinate the management functions and company policies, and help in strategic decisions. As a qualified Company Secretary, an individual becomes truly multi-faceted, who is capable of handling managerial and compliance related functions in any organization, through foresight and professional skillfulness.

A Company Secretary may also choose to practise as an independent professional.

Friday, 13 September 2013

About Chartered Accountancy (CA)

Chartered Accountancy is one of the most preferred career options in the field of finance and accountancy in the country. It offers excellent job opportunities in the field of accounting, corporate finance, auditing, taxation, corporate governance, business laws and investment banking. The Institute of Chartered Accountants of India (ICAI), New Delhi, regulates the Chartered Accountancy course and profession in India.

Increasing responsibilities are being placed by the government and the society on Chartered Accountants, and their specialized knowledge and skills are being utilized in various fields. Statutory recognition is given to their audit and certification in different statutes. Chartered Accountants today have occupied top management positions in public as well as private sectors. They also render professional services as accountants and management consultants.

CA as Independent Practitioner

CAs may start professional practice as proprietors or join any existing firm as partners or staff members. A CA has been entrusted with substantial responsibility of complying with the provisions of various legislations such as compulsory audit of the accounts of all companies, banks, cooperative societies, stock brokers, big income-tax assessees, large bank borrowers, etc. A Chartered Accountant also provides compilation and review services, as and when required by organizations. While practicing as an independent professional, a CA also acts as a business advisor by providing all kinds of services including the preparation of financial reports, helping the business to secure loans, preparing financial projections showing how the loans will be repaid, and determining the viability of businesses. As tax advisors, CAs helps businesses and individuals to comply with tax laws and represent their clients before government agencies.

CA in Employment

A Chartered Accountant may choose to join an industry or even a government organization and hold an important position of great responsibility. Chartered Accountants are responsible for developing, analyzing and reporting on information needed for business decisions. They also evaluate the financial effects of the management's actions. Many Chartered Accountants hold key positions in businesses or industrial firms as CEOs, Managing Directors, Director (Finance) and Chief Accountants

To read more about the course, click here

Thursday, 5 September 2013

How to check PF (Provident Fund) Balance Online?

Checking your PF online is very easy now. 

Just go through the following steps, and you should be able to get your PF balance very quickly! If you want, there are additional steps below which tell you how to download your PF passbook, which shows monthly contribution from both you and your employer.

Wednesday, 4 September 2013