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: