CA ,a very reputed and doozy course, a very demanding profession, promises a highly challenging but very bright career.But does entering/doing/completing this course in itself guarantees 100% success?With a view to give a glimpse of some do’s and don’ts to newcomers,I am writing this article.
(1) COACHING-“shall I go for it or not?”,”BEST TEACHER mania”,”Atleast crash course toh banta hai”
Initially when you join CA ,one of the most challenging situation you face is “how to study while managing articlehip properly”?”No college”, “No proper classes” then how to go ahead?Even now there is an ongoing trend that the teacher who is most expensive is definitely the best amongst all as if he is a paper setter and will let you know everything during your classes.But the right thing is just look for an experienced and a quality teacher don’t go by the jokes they crack in all classes to entertain you or the highest fees they charge from you.Ultimate thing is only your conceptual clarity and more or less everyone gets atleast some idea very first day that the fees they had paid is going to give a positive result or not.If I speak of north India,definitely teachers are highly experienced and qualified but some loses this charisma in a few days as soon as the batch starts and the students thinks whether they need to take a second way or not.To prevent such a situation,its very important to atleast discuss with some of seniors,friends or make enquiries to students taking classes of that teacher,study their class notes once and then form an opinion.As your parents hard earned money should hold sufficient value to be treated with care.Whether to take coaching or not stands a personal opinion but atleast go through that subject’s book and try to study it by yourself.In that case,if you get sufficient confidence that you can tackle the subject by self then you will be spending your Rs300-800 but would be saving Rs 5000-25000/subject that you can utilize in some more useful manner like by doing some advance computer courses etc.
In many cases students just buy multiple books of a single subject based on the advices of their friends ,seniors and end up in filing columns of almirah only & the books lie there just like a collection of historical books lying in a museum.And when the most important day of exam comes you find yourself standing nowhere as the chaos in mind becomes so big because of the confusion created by different books.So, it very very important to stick to one book only.No matter how bulky you find it.Initially it may seem that everything is going beyond your head but as you study it some more time then a grip over the topic is bound to come.Institute ask question based on its study/practice material only still students leave it considering it as very difficult job to handle.So ,its very important to use institute’s material atleast as a reference apart from following only ONE other book.If you are confused between 2-3 writers the best thing is to just arrange those books from friends/colleagues and study same topic from all books and then decide with which book you are most comfortable.But it is highly recommended to include institute’s practice manual and RTPs in your preparation.
(3) ARTICLESHIP-big 4,mediocre ,small firms or no firm at all?
Choosing a good firm or even no firm at all is the most important decision in your journey of CA,as only this will decide your future once you complete your CA.It is generally believed that doing articleship from big4s only will provide a winning edge.But the fact is even a mediocre firm with variety of work will provide you a good career provided you had taken your articleship seriously.Choosing articleship from a very small firm (where you exposure in tally and vouching verification only) where you will get good time for studies/coaching as well will be beneficial only till passing exams but once you become a CA you will not even hold knowledge equivalent to a junior accountant of a MNC or any big company.As far as dummy is concerned,again decision is good till you become CA but what after that?Many students generally believe that in corporate articleship experience holds no value,this is literally very wrong conception.The question arises does the company changes its policies/procedures/functioning once you become a CA?During your articleship you had to do their tax audit for instance and as an employee you have to deal with the auditors.What changes in between is your designation only but does the documentations they maintain,returns they file changes?No!How will you even write a voucher when you have never seen?what documents/records you wil present to your auditors when you yourself have not seen them?So, take it in your stride for your future.
(4) TOPPER OR BOTH GROUPS OR 1 GROUP OR NO GROUP OR COME AGAIN-NO TIME LIMIT?
Everybody will be on the top of the world if he/she gets a rank in CA examinations.I suppose this thought must have come to every CA student.Initally ,focus is on getting rank as the time pass it gets shifted to one group and many times students drop at the end.No strategy ,just a blind race.
On the other hand,a well planned blue print of your coaching/self study/articleship will guide you throughout your journey of CA.It is very important to decide well in advance about how you will go ahead once you join CA.Once you start your preparation ,your preparation of even a single chapter will be very important,you can neither leave a single thing nor can you give exams in a hush.An unplanned journey will only lower your overall confidence and CA will become just a burden for you.This is the reason why many students leave CA in between.So, think and plan thoroughly before you join CA for your successful future.
All the best to all the budding CAs
By CA Vijeta Verma