Happy to announce the Amazon Kindle launch of Auditing Mantras for CA IPCC , revised per Companies Act 2013
Saurik Ginoria @ CA Industrial Training at Tata Teleservices Limited
Hello Everyone
I’m Saurik Ginoria and I’ve done my CA Industrial Training
at Tata Teleservices Limited, Kolkata. Even though I was not from the Big 4 but
preparing myself for the Interview helped me to crack two rounds of Interview
conducted by Finance Manager and CFH. What is most important while going
through interview rounds of Industrial Training is that you should be well
aware of the Company, its Financials, Type of Industry in which it is working,
its Competitors, Major Revenues & Costs. These details would certainly help
you clear the interview as a few questions are always asked on the same.
MY CA INDUSTRIAL TRAINING EXPERIENCE AT TATA TELESERVICES
I was in Finance team of Kolkata Circle where I was
entrusted with assisting of Monthly Flash (Profit & Loss A/c) and major
Vendor and Bank Reconciliation.
Tata Teleservices Limited My CA Industrial Training
Experience at TATAI believe that after completing Chartered Accountancy Course,
if someone wants to join the Industry rather than opting for Audits, the
experience gained during Industrial Training would be a great boon. CA
Industrial Training with a good Company will help you to learn SAP (System
Acquistion Product), the software which is being used by every major MNC. So
when you join as Assistant Manager or Trainee with any Conglomerate, you won’t
feel lost and out of the world.
I am not saying if you have not done Industrial Training you
will face severe crunching situations but your life at initial stages of your
career will be smooth and you don’t have to start from basics if you’ve the
experience of Industrial Training. Right now I am working with PEPSICO and I’ve
been growing faster than my peers as I had a good Industrial Training
Experience at Tata.
Clearing Chartered Accountancy is much easy in comparison to
life after CA. (I know many of you would be thinking otherwise but frankly
speaking a managing a high paying job in a MNC is a tough task). You are being
entrusted with hell lots of responsibilities and that’s why companies pay you
big bucks. And that’s the ground reality.
Life after CA is over and above Tally.
IMPORTANCE OF COMPUTER SKILLS
Another important thing is that irrespective how good we may
be in academics; most of us are not good enough on your fingers while working
on computers which may turn out to be a very embarrassing moment.
No, I’m not talking about using Facebook and Twitter, I’m
talking about Excel and PPT (I know you are professionals when it comes to Facebook
and Twitter)….
The Industry is all about Excel and PPT. You have to be very
good and spot on in Excel. There are many formulae and functions like V lookup,
H lookup, Pivot table etc which we all may not even be aware of. But these
things are a part and parcel of any job. So it’s always good to have knowledge
about these things.
Doing CA Industrial Training at Tata Teleservices indeed
helped me a lot in this issue and my efficiency before and after Training in
Excel and PPT is incomparable. All Companies have monthly, quarterly closing
etc and it is all about Excels as all data and figures are being displayed
through Excel.
When you will learn Excel in practical base, trust me guys
you will just love the depth and intelligence of software. It’s among the top 5
software used in Companies. And this speaks for itself.
I know many of you won’t go with my opinion but what I have
realized during my CA Industrial Training (tough it may varies Industry to
Industry) that you apply only 10% of your theoretical knowledge in your work.
Rest is all your smartness, wit and your Articleship base. How you tackle a
particular situation depends on your capability and grooming.
I have passed out in Nov 2010 so I feel myself one of
amongst you only
CA Saurik Ginoria can be contacted at saurik88@gmail.com
Aayush Jain : Feeling lucky @ Salarpuria Jajodia & Co,Kolkata
I have completed one year of articleship at Salarpuria Jajodia & Co. The first thing that I learnt during my articleship was responsibility. I had worked with intellect and integrity in my previous firm and have gained knowledge in various fields of audit. As I joined Salarpuria, I was straightaway allotted for a statutory audit which was followed by a brief period of internal audit and then I switched back to statutory audit.
I was lucky enough to be allotted under a very knowledgeable and giving senior who played a huge role in developing my knowledge base and work experience. I, within a span of 6 months from joining, was allotted as a senior to a relatively mid-sized client which did a world of good to my confidence. The other important factor which helped me immensely was the diversity of work I had been exposed to. I had been a part of the audit teams for clients from Tea industry, Hotel Industry, Real Estate Developers, Non-Banking Financial Companies and Jute Industry some of which were Listed Companies.
During my one year of articleship at Salarpuria, the emphasis was always given on accuracy and knowledge. The following is a brief description of my work experience at Salarpuria Jajodia & Co.
· Finalization of Accounts as per Revised Schedule VI requirements.
· Drafting Audit Reports as per CARO, 2003.
· Finalisation of accounts along with checking of Accounting Standards compliances.
· Preparation of Audit Plan, Internal Audit reports, Routine Checking and physical Verification of Inventory.
· Preparation and filing of Income Tax Returns of Companies, Partnership Firms and Individuals.
· Preparation and filing of Form 3CD.
I feel privileged to be a part of the organisation and look forward to further enrichment in my current firm.
The Journey of Sourav Binani (a.k.a- Diego)
Rather
than the so called"Journey", I would like to say it as adventures
during articleship. :p
From
the beginning, passing IPCC on the border line in first attempts in itself was
an achievement for me, I dint bother much as i knew my chances of clearing IPCC
was nil. But,obviously my hard work paid off pretty well. Articleship , as I
thought is an adventurous trip where the audit firms sends you to different
places, new cities to work, and the
clients always flattering you just to make you happy and outcome is of course
leniency. This was just an imagination I had, though nothing sort of this
happened.
Phew..!!
Basically
getting into articleship was to get experience of various fields and get
exposed to something I m pursuing. Sitting at home and doing nothing (believe
me people think that they will study at home and take dummy, but seriously,
2.5yrs of your life will just be engaged in tuitions, vacations, and friends (and
friends you people know it) is better than working at your work place and gain something
(Knowledge about how to do works, friends, trust, respect, etc)
The
best part about my articleship is the statutory Bank Audits, its so good. Like,
I was on road, train and air craft on a BonVoyage
for 15days and enjoying and cherishing every moment of it, sleeping,
rocking, that cute air hostess asking Where is Mr. Sourav (lol, dil bole
hadippa<3). I even think that some official at the air port thought me to be
a Atankwadi (due to my look in kurta and long hairs and beard :p), the royal treatment that you get from Bank
peoples is simply awesome. I really miss those sweets (Katli, don’t get jealous :p) my Sir used to
get especially for me and being savior of the day, a few times.
“I
am more of an Addle than being a Adroit “-
A phrase told by someone to someone.
Which
simply you can understand as – I wanna be more of an amateur than being a
diehard professional (surely not like my initial days when I used to be a
lackadaisically pathetic at work place)
This
is something I believe which keeps me self- motivated and develops an urge to
gain knowledge, relations, respect, and the shabsis of peoples around me.
Moreover, I cannot let my work rule my life, love your work but don’t make it a burdening love. Never lose your
sole identity and be a workaholic machine which makes the inner artist in you
sleep in faith that a fairy may come and wake it up inside.
The
thing is there will be times when you will feel:
1.
What are you doing? – yefuglyfuglykyahai?? (for
vouching and other so called imp. tasks)
2.
You have to do it? – Ilahimeraji… ( due dates ki
energy when you have energy and do your work)
3.
Is the boss right? – humbhihai josh me,
baateinkarhosh me( starts in your mind, when you are held responsible for task
you have not done.)
4.
A normal trait among we students, “I am not meant to be employed like this, I can
be a better employer than him,” ( Well dude, a famous quote says “ to be the
best, you gotta beat the best” if you think you can be a good employer , go
ahead employ peoples and let us know what happens.)
Do
listen to music, party at your work place at leisure hours, (We even bunk
office to go to movies and other things). Seemingly tea / coffee, bonding with
you also increase in an affectionate way.
The
main task of an Auditor is observing/ analyzing the evidence the event
happening, things which helps you throughout your life when people start
observing each others too (with the office peoples, the chemistry between
peoples and stuff)
Dark Room me
surajki Roshni mil jaye to kya baat hai,
Chote chote haatho ko kisi
ka saath mil jaye to kya baat hai,
Angry mind hone
par koi Ice cream khilaye to kya baat hia,
Sleeping mind
ko sapne ka sukoon mil jae to kya baat hai,
Human being and
being human ka difference sabsamajhjaye to kyabaathai,
CA ko toughest
course ka state to mil chukahai, hum aur tough ho jae to kyabaathai,
(Just bear with the lines, :p)
Lastly, Go within and scale the depths of your being from
which your very life Springs forth !!
Adios Folks.
Thanking you for patiently reading and bearing it.
Yours Faithfully,
Sourav Binani
Kartik's take on Articleship
" ARTICLE ON ARTICLESHIP "
( Disclaimer : Don't read it if you haven't been on articleship , and readers are advised to have their personal discretion over every sentence )
C.A , the course of darers rather than doers And Articleship is it's soul ,a journey of mix of all types of feelings in the world i.e [ happiness, sadness, frustration, tension , enjoyment, learning ,dissappointments , anger, eagerness , and many more still discovering from lots of expereince of all my article friends].
Every IPCC "passers" are very much excited about articleship , and why shouldn't be they . It feels good to hear that we will be going to join office and be a part of corporate world but the facts surpasses all reality.
World's only self serving learning internship , and when i say it i mean it. Yes if you think that someone will come and teach you How to do it? Then my friend you are misunderstood. You have to teach your self and the firm is just responsible to provide you the right platform with other supporting's. Not every chartered firm is blessed with a Teacher instead only Principal. I myself have surpassed such situation of Contrasting Dilemma last one year, And found that I have to push myself to the upfront if i want someone to act as guiding light and trust me the Silver Linning of learning lies out there.
Talking about my articleship , few days back on 9/9/14 it celebrated completion of 1st year (Metaphorical Celebration). Talking about 1st year , one thing takes me to nostagic days of school when the principal use to threaten us by taking the name of T.C [Transfer Certificate], Today i came to know that how time can change the meaning of so many words. Today taking tranfer is a challenge from your principal to a lot reading this article. My condolences to those who wants and are struggling.
During Articleship, if few non-curable issues such as Stipend, Holidays, Reimbursement and Transfer are seen from different view, Can engrave us with some high quality values. Let me explain HOW?
Low stipend can teach us the value of money, Afterall who should better know the value of a penny other than a Future C.A. Less holidays will make us more sincere and punctual towards our work and will teach us Time management. Low or sometime No reimbursement will teach us how to face Financial crisis and learn about the art of fund management , After all there are things like family and most important upcoming family which we have to manage too. And last but not the least the Transfer problem, this can teach us the greatest art of all , the art of Sticking at one place just like all Indian Men. [You can relate to it].
Keeping aside everything , If you ask me what are the auditing mantras i have learned is then i would say, Keep in record everything you do. Atlast you'll be held responsible for every SHIT, so better prepare excel SHEET for every BIT you do.
Concluding here wouldn't be justifiable , but there is no scope for justice to article's even . Ending on a contrasting note from Rabindra Nath Tagore sung by Shri Amitabh Bachhan " Jodi torr daak sune kaew na aashe , tobe ekla cholo re " have it on ur juke box , helps a lot.
Thanking You
Kartik Agarwal
Contact- 091-8900391290
Email at- Kartik7agarwal@gmail.com
Articleship from my eyes! by CA. Vivek Agarwal (AIR 49 in Final, 35 in PCC)
Till High school life is care-free one and there is a "go-with-the-wind" attitude and rightly so. All your friends in the same class, same daily routine, same exams etc..
The point of time one enters college and clears CPT (now after IPCC), there is a wierd question hovering around "articleship kahan karega" or "kahan kahan apply kiya".
Articleship is that point which embarks on a new journey for a CA student. It can be widely regarded as the stepping stone to the professional world.
DAY 1, I was sent to a pvt ltd co. in Park Street with one of the seniors(3rd year article) with the instruction from my Principal, "Isko audit mein saath mein le jao". After 2-3 hours of marking red ticks on the vouchers and mapping it with the TALLY print-outs, I started to wondered whether this is what is all about audit and is it for this that CAs charge hefty audit fees and command such respect!
However, my myth was soon broken. One good thing about mid-sized firm is that you get to work on a variety of assignments from statutory and internal audits to Tax Returns. From ROC work to concurrent audits of banks.
Of-course there are periods that test your patience: when you have an important tuition class to attend and you have been instructed to upload a few returns before leaving.
However, one of the audit mantras(which I reveived from one my seniors) that I would like to share, which kept me motivated during those 3 years was: "Always assume that your principal's work is your own work. Do not compare your quality of work with the meagre stipend which you pocket. "
Remember:
It is all about developing those niche skills that augment a win-win situation for both the client and the principal. It is all about gaining that confidence that even you can sign the audit report had you been the auditor of the Company!!!
CA. Vivek Agarwal
(AIR 49 in Final, 35 in PCC)
My Audit Experience by Shruti Khandelwal
Those lessons of punctuality, reporting, team work, handling ego clashes wid colleagues, teaching juniors n learning from seniors, and sometimes tackling really irking clients and ofcourse boss ki jhaad! But d most crucial..Time Management!
Articleship has taught not just the CA works but lessons I can carry all my life.
I was in a mid-size firm. Experienced the audit of mainly construction, manufacturing Companies and NBFCs. I always loved the site visit part. The best one was the visit to a pipe manufacturing factory! Lifetime experience!
My moment of ecstasy was when the CA representing our client (NBFC) praised me for my observations in front of my boss. Boss looked at me and said "This is called achievement!" That was the first n last time I saw my him smiling ; p
I am sure those who say "articleship doesn't help in final exams" have never experienced real articleship. Now when I study customs when I have already seen n examined bill of lading, it all seems so familiar. The best part in CA curriculum is whatever you study, you can apply in real! Unlike calculus! :p
The two auditing mantras that i would give are -
Donot leave the habit of studying in this wide gap of 3 years! When you are auditing, try to study and relate as much as possible. AS, Companies Act, Tax laws, SA, Guidance notes..every bit of effort will repay when you start the real exam preparation.
And, Never let articleship overburden your life.. You are a student first and then an article. So give priority to your studies n health and then think about September!
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