Imdependent practice or join a firm ?

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Darshan Dholakia (Querist)

04 July 2012 Dear Experts ..
In your opinion.. in present scenario and in coming 5-10 years ..
what do you think .. joining a corporate CA firm is better or starting an independent practice ?
and what are pros and cons of both ?

CA Debasish Banerjee

CA Debasish Banerjee (Expert)

05 July 2012 Sustainability, opportunities, your place of practice, ability to pursue and lastly the financial requirement / commitments.

if you join a firm you will be able to take care of the uncertainty factor which is there in the initial years when you are practicing independently. own practice will require a real willingness to survive in the initial few years. If you are able to overcome this problems then you would enjoy your creative best as all of it is your own. One big issue is your monetary requirement as starting your own practice comes with earning less initially.

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sudarshan

sudarshan (Expert)

05 July 2012 it is better to go for employment for 5 to 7 years and then join an audit firm. Starting own practice is not a good option after passing out.

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Darshan Dholakia

Darshan Dholakia (Querist)

07 July 2012 @ CA DEBASHISH : So you believe Independent Practice is a better prospect ?!

CA Debasish Banerjee

CA Debasish Banerjee (Expert)

07 July 2012 It has more opportunities challenges and risk. Lot of opportunities will help you and success will make your achievements more sweet. If you have the family support, ie, if you do not need to give financial supportimmediately, then go for practice and enjoy the life long experience to share. Be the employer and not an employee. keep in touch and hope to get the best of the challenge.

Darshan Dholakia

Darshan Dholakia (Querist)

09 July 2012 @ Debasish : Thanks a lot :D
And Il definately need your suggestions ahead.. So Def will be in Touch : )

Darshan Dholakia

Darshan Dholakia (Querist)

09 July 2012 @ Debasish : Also suggest me . For articleship BIG FOUR is better or Mid-Size firm ?

CA PARTH SHAH

CA PARTH SHAH (Expert)

11 July 2012 FOR ARTICLESHIP I THINK A MID SIZE FIRM WHICH WIDE VARIETY OF WORK IS THE BEST AS IT WILL ALLOW YOU TO GIAN BASIC KNOWLEDGE OF ALL THE FIELDS. JOINING BIG 4 IS RESTRICT YOUR KNOWLEDGE IN VERY FEW FIELDS AS THERE YOU WILL BE PLACED IN 1-2 DEPT ONLY FOR YOUR WHOLE ARTICLESHIP PERIOD. ONLY GOOD POINT IS THAT YOU WILL GAIN EXPERTISE IN THAT FIELD

CA PARTH SHAH

CA PARTH SHAH (Expert)

11 July 2012 IF ONE HAVE FINANCIAL SUPPORT FROM FAMILY AND ALSO HAVE ABILITY TO SURVIVE THE GESTATION PERIOD OF THE PRACTICE THEN ONE CAN CHOOSE INDIVIDUAL PRACTICE. IN CURRENT SCENERIO, IT IS BETTER TO START PRACTICE IN A GROUP AS SUCH PRACTICE WILL HAVE LESSER GESTATION PERIOD AND PRACTICE WILL GROW FASTER.

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