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If you have a vision for your future that you can become  a successful CA then believe me you must be serious with your article ship training. You must always remember that you are known by the quality of work and not by qualification alone. CA Qualification serves as a gate pass only. The quality of work and skills matter most. You must have patience and a learning mindset which requires innovation and hard work style.

 As an article clerk  you may have an exposure on a variety of areas. Now when you become a professional, can you prove your capability of handling issues in the Book keeping, Financial Accounting, Cost Accountancy, Company Law, Direct Tax, Indirect Tax, Auditing, ERP, IT Audits and Financial Planning.

There are only a few big firms who are offering all the above comprehensive learning in the three years training cycle. These trainings done diligently allow a life time learning which becomes an  asset . You must always remember this is the golden period of life which must be catalyzed. You can’t miss this period because it develop you as an intellectual professional who knows the pulse of auditing, accountancy and auditing.

Hence as a trainee or an intern you must put yourself to the learning from the under given check list -

  • Basics of book keeping required professionally.
  • Financial accountancy using the accounting software like tally.
  • Company Law compliances regarding MCA site
  • Tax planning and compliances including filing returns for various entities including NRI, Corporates, firm, cooperative societies, HUF etc
  • Indirect tax planning covering Custom
  • Indirect tax planning covering Excise.
  • Indirect tax planning covering Service Tax
  • Emerging areas like Foreign Trade Policy
  • Traditional Auditing covering internal audit, statutory audits
  • New type of Auditing ranging management audit, Balance Sheet Audit ,IT audits and System Audit
  • Financial management including capital budgeting and  trade finance
  • Growth areas like Hedge fund, Derivative, share market operation
  • Sunrise sector like IND-AS and IFRS
  • High demand areas like GST which will be mandatory from 1.4.2017
  • New sectors like financial literacy, XBRL
  • Accounting and auditing of NGO sectors/ not for profit sector/ trust
  • Niche  professional areas like Financing of power sector, infrastructure sectors
  • Product costing using traditional and new ways like ABC costing, kaizen costing
  • Micro Soft skills of Power point Presentation, Excel word required for the clients
  • Norms  of accounting and auditing of Banking and Insurance sectors
  • Decision making both financial and non -financial in various business scenario
  • Strong Communication skills which give confidence to yourself and clients
  • Newer areas like Transfer pricing, International taxation

Traditional Areas

Additional Modern Aspects

Basics of book keeping required professionally

Emerging areas like Foreign Trade Policy

Financial accountancy using the accounting software like tally

New sectors like financial literacy, XBRL

Company Law compliances regarding MCA site

High demand areas like GST which will be mandatory from 1.4.2017

Indirect tax planning covering Custom

New type of Auditing ranging management audit, Balance Sheet Audit ,IT audits and System Audit

Indirect tax planning covering Excise.

Sunrise sector like IND-AS and IFRS

Indirect tax planning covering Service Tax

Growth areas like Hedge fund, Derivative, share market operation

Tax planning and compliances including filing returns for various entities including NRI, Corporates, firm, cooperative societies, HUF etc

CA can qualify certain subjects and can  get foreign qualification like CPA/ACCA

Traditional Auditing covering internal audit, statutory audits

Product costing using traditional and new ways like ABC costing, kaizen costing

Financial management including capital budgeting and trade finance

New areas like Transfer pricing, International taxation

Accounting and auditing of NGO sectors/ not for profit sector/ trust

New opportunities areas like business branding, due diligence, valuation of business

Microsoft skills of Power point Presentation, Excel word required for the clients

the analytical and innovative mind puts him on the cockpit of the engine of growth of the country and the world at large

Norms  of  accounting and auditing of Banking and Insurance sectors

Taxation, accounting and Auditing under Merger and acquisition

Niche  professional areas like Financing of power sector, infrastructure sectors

Valuation certification

Strong Communication skills which give confidence to yourself and clients

Social Audit (Gram Sabha and Panchayati Raj; Corporate Social Responsibility Audit)

Decision making both financial and non-financial in various business scenario

Environmental Audit

Business Risk Service

Information System Audit of establishments incorporated under certain Acts like RBI, SEBI, IRDA

Usage of emerging technologies like cloud computing and Web 3.0 and their audit

Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (InVIT)

Venture Capital Company and Venture Capital Funding

Forensic Audit

Credit admissibility as per MAT, AMT and CENVAT credit Rules

Salary based payments like provident fund, gratuity and ESI

Author: CA Vikas Kumar
To enrol Advanced Management Accounting (CA-Final) subject of the author: Click here


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