Begin with your Strength To Achieve the Excellence

Page no : 5

CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26258 Points)
Replied 23 June 2011

I doesn't mean that you should be a Sachin Tendulkar, Shreya Ghosal, Rehman, Amitabh Bachhachan or Mukesh Ambani or Narayan Murthi. 

.

What you will achieve you are known as a copy of above persons ! Even if try to be like that, you will never find their place neither it is desired from you. Shreya Ghosal never said that she wanted to be Lata Mangeshkar. 

.

In my above lecture; I have told that I don't want to be like anyone else because every person is unique in himself. 

.

The most important point I wish to draw  is : 

.

AVERAGE STUDENTS WHO SCORE 50 % OR SO; CAN PERFORM UPTO 90 %.

.

The required criteria is only the DEVOTION IN THE LINE WHICH THEY HAVE JOINED. 

.

( Note : It is very difficult to upgrade  30% scoring students to 50 % zone ). 

5 Like


akashdeep goyal (pursuing ca & cs) (30 Points)
Replied 23 June 2011

Thanks for the response..sir


razz (nd) (124 Points)
Replied 23 June 2011

Its nice....

hmm...yeah i'm getting whatu trying to say...


Arup de (B.com) (69 Points)
Replied 24 June 2011

Really True fact Sir!!! hats offf!!!!!!!
 


CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26258 Points)
Replied 26 June 2011

 

From TV, today I have come to know that the famour play back singer Manna Dey has expired. He was 92. Till his last moments; he has run his career which he started in his childhood and got the break in a film in the age of 24 i.e. a long span of  glorious 68 years  in singing !

.

( The career in signing starts in the age of 5 and ends ..............). 

.

In 1999, he came to Surat and I have enjoyed his singing when he perfomed non-stop for 4 hours in the age of 80. 

.

Although his father wanted him to be an ADVOCATE. 

.

Since he had interest in Singing, hence he chosed that only. 

.

Till his college life; he won various awards in singing. 

.

If you have chosen your  career as a CS just because it will give a source of earnings; I still suggest you to SEARCH THE AREA  in which you have interest.

.

Not only you will give justice to yourelf;  you can do wonders for the world ! 

.

.

Everyone has a TREASURE in himself; the required thing is to SEARCH it :

.

Either by self or with the help of masters. 

.

.

Your  life is  precious.  

.

Whatever has happened in the past, is not so important. The mistakes if you have committed; should NOT be carried forwad for life long..............

.

( NO SET OFF WOULD BE AVAILABLE ) . 

.

HENCE THE MESSAGE IS : 

.

Change your career right now if it is not suitable to your interests. 


6 Like



Narayan (Article-Assistant) (124 Points)
Replied 27 June 2011

sir r u sure manna dey has died?

i cannot belive that he has died..just 5 months before he performed in a concert  in Mumbai and show was successful.

can you provide some link?

in google, its specified that manna dey is very much alive.


CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26258 Points)
Replied 28 June 2011

Originally posted by : Narayanan

sir r u sure manna dey has died?

i cannot belive that he has died..just 5 months before he performed in a concert  in Mumbai and show was successful.

can you provide some link?

in google, its specified that manna dey is very much alive.

You are right; he is alive.  What I wrote above; just to check  whether students refer the newspapers or not.  If such legend expires; then definitely we will find a news about him. Have anyone noticed in recent past ? Recently we have noticed the death of painter. What was his name; I leave it to the readers. I think very few of us have met him and neither we have got a chance to see his real paintings.

.

Whereas this legend Manna Dey is still performing and many of us have seen him performing !

.

At least we enjoy his singing if we have not enjoyed his live performance. To my knowledge he is the only singer who performed as  a classical singer  which were perfomed  in comedy scenes many times.

.

The example is : Ek Chatur Naar Karke Singaar....The most of such scenes have been performed by  Mahmood in the past. 

 ..

I give the reference of one of the post how students wish to behave in professional exams and then they blame the "behaviour" of the Institutes is not "uptomark."  After reading the following; readers have to decide what is the correct position.  Although it was written for a query  raised by a CA student; still it is equally good for CS and CWA students.

.

Originally posted by : ..........


Hi,

Cost & FM paper of this paper contained more than 70 marks from FM. However, institute clearly divides the marks as 50:50 between Cost & FM. Cannot this matter be taken to institute. 
.
My views : 

The ideology of the Institute is; never believe on anyone till you verify yourself. 

.

While conducing audit of a client's accounts; if the client says it is all OK; no need to check, you may just sign your audit report. Can you believe on his words ?

.

I ask a very basic question : 

.

For what purpose the Institute has included particular topics ? Do you find somewhere the Institute has written : You can easily skip over some of the syllabus. The answer is No. Hence the option is not available to you to skip over some part of the syllabus. 

.

The reason is when you would be a qualified CA, then it is expected from you that you know at least something about the matter which was covered in your syllabus. I warn here; that something is not sufficient  to be a successful professional.  


.

For example; while studying Accountancy; you left the chapter Hire Purchase. By scoring 55 or so; you passed CA Final (anyhow - say by Good Luck). 

.

Now you wish to start your own practice. 

.

The very first client which you meet; is a person who provide finance to the cars. 

.

Can you say to him : Since I don't know what is the accounting system of Hire Purchase; hence I am not able to handle your case.

.

And if you take his case; definitely you have to study HIRE PURCHASE ACCOUNTING now !  

.

So it is better option  before you to study it now. Otherwise the option is to leave the client. 

.

Decide now : Which option is better ? 

.

To leave Hire Purchase Accountancy or the Client !

.

Of course, you can't leave anyone. 

.

If you think; you are not interested to be a practising CA because you want to serve some reputed companies. 

.

Suppose; after qualification you get one offer from BAJAJ AUTO FINANCE. 

.

I repeat the same question which I raised earlier. 

.

Now, tell me what is your answer ?

2 Like

Shrikant Subramanian (Chartered Accountant) (176 Points)
Replied 28 June 2011

mr. surendra sir,

even i had confusion ...which is right now iam in my 3rd yr of articleship & it will get over in this year.then would do my GMCS.

1) my articleship experience was just in stat audit (that too in my articleship dont hve exposure in many many aspects). fortunately after my ca final , i feel i will enjoy working in taxation matters.(DT or IDT that depends on hwat oppurtunity i get)

age is on myside.iam just 22. shall i get into taxation?

2) now frankly speaking iam not claming to be excelling in tax. but iam sure i will learn everything..if iam given exposure, then i can gain good practical experience. yes i have the interest to learn too.

so is it advisable for me to enter into a mid size firm in mumbai.?

3) what should i specify in interview?- should i mention - i would like to be given exposure in taxation matters - appeals, assesment, opinions, filing etc..

4) future is in GST (in case of IDT exposure) and in international taxation (in DT) . SO AFTER 3 years would like to get into one of them only.

5) what about package? will i stand to loose if i opt to get into taxation that too  by joining in mid size firm now at age of 22..with no exp in tax.

(i will become a CA this year for sure..)

your advice needed.


Hardik Dave (IPCC and CS Professional(FINAL) Student)   (15528 Points)
Replied 28 June 2011

Realy True , surendra sir.

Vijay (Adamo Studio) (2112 Points)
Replied 28 June 2011

Painter was M. F. Hussain for sure!!! I m really enjoying ur write ups Sir...




(Guest)

sir your words are very inspiring and motivating......


CA SURENDRA KUMAR RAKHECHA (Practising CA at Surat) (26258 Points)
Replied 28 June 2011

( My advice is limited to the box only  although we should  always ( all-ways) think out of the box to present the answer in an  excellent  manner ).

Originally posted by : Shrikant Subramanian

 

mr. surendra sir,

.

even  i had confusion ...which is right now iam in my 3rd yr of articleship & it will get over in this year.then would do my GMCS.

.

Your answer begin with "even"  although the meaning of  this is "odd" here. 

.

The heading of the topic is BEGIN WITH YOUR STRENTH. Hence first of all, you are not following the rules (humour).

.

Your answer should begin like this : 

Sir,

.

I am happy to say that this is my last year of articleship. I have a little bit ( or lot of ) confusion (s).......(then carry on). 

.

1) my articleship experience was just in stat audit (that too in my articleship dont hve exposure in many many aspects). fortunately after my ca final , i feel i will enjoy working in taxation matters.(DT or IDT that depends on hwat oppurtunity i get)

.

Whatever you did or are doing in Statutory Audits; is more than enough to make a bright career. 

.

It is really very unfortunate that students think Audit is a routine job. 

.

Please have a look on the following points : 

.

1. Can you comment on the financial reporting of the concern if it has not followed Accounting Standards  in toto ?


How you will check it if you don't know the APPLICATION OF ACCOUNTING STANDARDS  ?

.

2.

.

(i) How you can check the ACCOUNTING TREATMENT OF DEFERRED TAX if you don't know INCOME-TAX PROVISIONS PERFECTLY ?

.

(ii) And how you come to the conclusion that there is surety of deferred tax asset when management claims to be positive for future gains. 

.

( The second part of this  answer may not be understood properly and it is also not desired from you at this stage. But later on when you are required to sign the Balance Sheet as an Auditor; then you should take care thereof). 

.

3. If there are some negative comments by COST AUDITOR in his report; can you assume that internal controls are existing satisfactorily although you don't otherwise come to such doubts ?

.

Hence you have to know the Cost Accountancy very well togetherwith its practical application. And as students know better that most of CA students fail in Costing many times !  I have seen some students who qualified CWA but could not pass CA because they could not manage the paper of Cost Accountancy !

.

Hence it is also known as Management Accountancy ( Humour). 

..
Have you heard about Cost Accounting Standards ?

.

Regarding next part of the query; if you join a firm which is engaged  in Taxation, then you need not ask anything to your employer. So choose only that firm; which is known as expert in Taxation. 

.

age is on myside.iam just 22. shall i get into taxation?

.


2) now frankly speaking iam not claming to be excelling in tax. but iam sure i will learn everything..if iam given exposure, then i can gain good practical experience. yes i have the interest to learn too.
.
so is it advisable for me to enter into a mid size firm in mumbai.?

.

I really appreciate your interest in Tax. Here I must not try myself to doubt that this interest has been created because you had no chance for that during your articleship. 

.

Regarding second part, see the para no. 1. ( Time saving is a must ). 
.

3) what should i specify in interview?-

should i mention - i would like to be given exposure in taxation matters - appeals, assesment, opinions, filing etc.. 

Regarding answer, see the para no. 1. ( Time saving is a must ). 

4) future is in GST (in case of IDT exposure) and in international taxation (in DT) . SO AFTER 3 years would like to get into one of them only.

.

The question raised by you is misleading to yourself. Do you have interest in DT becuase there is a good career in future ?  Ask yourself honestly.

.

5) what about package? will i stand to loose if i opt to get into taxation that too  by joining in mid size firm now at age of 22..with no exp in tax.  

.

The answer is very tough now :

.

What do you really want ? Good Package or Good Practice in Taxation ?

.

There are many CAs who earn handsomely because they are master in liaisoning with higher authorities. 

.

BABA RAMDEV never asked for big packages when he started YOGA, still he has........

.

BE A MASTER OF SELF; NOT THE SERVANT  OF OTHERS !

.

( If you are excellent in one area; nobody can retain you in service for a long time. Automatically you will realize very soon ; you are serving a person who knows lesser than you ).

.

(i will become a CA this year for sure..)

 

Wish you all the best. 

 

2 Like

Santhosh Poojary (SIEMPRE AHÍ PARA TI) (15607 Points)
Replied 28 June 2011

As always, Wonderful n worth clarification by Surendra Sir, Thanks.



(Guest)

Thank u Sir for sharing dis article......




Shrikant Subramanian (Chartered Accountant) (176 Points)
Replied 29 June 2011

surendra sir,

although i understand what you have conveyed to me, still i have lots of questions in my mind.

 

1) see i beleive i should enjoy my work and that is not possible for me  in audits (stat) 

reason is that auidt is about postmortem and after a period it does get monotonous for even the seniors.

2) Tax iam finding interesting not only just because i have done nothing with respect to tax in my articles, but also because i find it understandable more easily( i loved tax even before i got into my articleship) In pe2 we had direct tax alone and i used to love learning and reading everything related to chapters of DT.

 

3) Atleast I hope i would enjoy being in taxation in long term.

4) At this point of time, I do have (lots of confusion) - but thats becuase of lack of sufficient exposure during articleship. When i did statuatory audits, i used to  do vouching, checking CARO requirements and doing substantive analysis of expenses and hadling few areas like cash, 301 parties,  depreciation requirements etc. There are many areas like gratuity provision, deferred tax provision, MAT provision, indirect tax payment 's validity  which i never got to handle.

5) But as during my leave for final exams , i developed interest in taxation, i feel atleast i can start my career  in a taxation firm and gain good expereince in taxation within 2 years. May be after 2 years, i can either join  some CA firm in capacity of an associate and later become a partner there/ or i can myself start a pratice of my own  5 years down the lane.

6) my interest lies in direct tax . so iam seeking your advice as to what should i do now for next two years.  Next two year's experince will only determine whether i can start practice of my own or be working in some CA firm as an employee or become a partner from there.



Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Subscribe to the latest topics :

Search Forum: