Expect the CA PCC  result anaysis soon

Respected Chairman of the Forum  CA Vivek, Chief Guests CA Aldrine & CS Ankur; 

Members on the Dias CA Ravi, CA Amit and

The Members off the Dias,

A very Good Afternoon to all.

The "flying topic" -  “A Bird Eye View on CA Final Results” is an eye opener for the CA Students.

My views on the CA Results are :

1.      If we analyse the details submitted by one active member “Monika” the following is reflected:

For the years 2006  and 2007; the results of CA Final were the highest  if we compare all the attempts given in the table by her.

2.      Indian GDP was negative in 2000.  In 1996; there was crisis in money market because most of the companies which came in for IPOs from 1992-1996; failed to be operative. Many of them were dummy (but yummy for promoters)!. Such 83% companies are not in existence at all ! There are bundles of share certificates with the public having NIL Value.

3.     But soon after that the economy revived. There were so many takeovers by Indian blue chip companies in foreign countries specially in the years 2004 to 2008; hence an increase in the number of qualified  accountants was felt.

4.      One major problem seems to be faced by the Institute during 1996-2000. Because in comparison to MBA Institutions; marketing part of the Institute was very weak so the students were not choosing  CA as their career. Hence the Institute adopted one technique to catch the students into the profession when they are young.  That is why the "scheme" of CPT was introduced.

5.       After introduction of CPT; fortunately the economy remained vibrant till 2008.  The "scheme" of CPT went successful and huge number of students took admission in CA profession. 

6.      Indian companies did well till January, 2008 and then recession period was “declared” by US (not by us).

7.      Many Indian companies “produced” huge losses in forex transactions due to non-application of hedging techniques "properly." So the government has to adjourn the application of AS-11 for time being. To avoid such situation the institute has started organising  seminars on forex transactions.

8.      In India we already have the highest number of chartered accountants in the world; but facing problem of good accountants for corporate sector which is growing by leaps and bounds.  ATC will help towards this.

MINDS THIS ONE AS MOST THE IMPORTANT AS IT MAY BE THE POLICY OF THE INSTITUTE TO STOP MOST OF THE STUDENTS AT THE STAGE OF CA PCC/IPCC QUALIFICATION ONLY AND THEY WILL BE  “AWARDED”  ATC QUALIFICATION.

9.      There are so many challenges before the Institute to educate its members towards –

1.      New Income Tax Code

2.      Implementation of LPP in Professional World

3.      Goods and Service Tax

4.      Implementation of IFRS

Whenever new challenges are there; first question is of survival. We can survive only by making our "product" more competitive; specially when effect of the recession is still there.

10.   If we analyse the results of previous 14 attempts; we will find that most favourable results were in 2006-2007 i.e. the year in which the CPT was  introduced.  By the same time; more acquisitions were there by the Indian Companies hence a good demand for Indian Chartered Accountants was also emerged to employ them at foreign land. 

11.  The service of the chartered accountants are related to the business activities. We can easily analyse that when the economy was at boom; more favourable results were there.

12.  So students should plan their studies in such a way that  they are well aware of international transactions like transfer pricing, forex transactions, import and export procedures, accounting of commodities, hedging, procedure of merger and amalgamations, listing of shares at stock markets and so on…..

13.  Ensure yourself that you stand in the “first line” i.e. upto 15 out of 100..

At last I quote here:

i.                    What is the secret of Success ?          “Right Decisions.”

ii.                  How do you make Right Decisions?    “Experience.”

iii.                How do you get Experience?                “Wrong Decisions.”

-          Dr. Abdul Kalam

I thank all the members who joined the forum (the entry is still open – the attendance will be recorded the moment they will enter).

With Regards,

CA Surendra Kumar Rakhecha

Thank you very much Mr Rakhecha jee.......

The number of student who had enrolled to the CA course is more but the economy trend is not good ... The economic theory the supply exceeding the demand .....

The post made by monika is realy towards reducing the passing %  of CA final results... It is a true factor that the result come down very  drasticaly and dramaticaly......

Some had posted the bad news of suicide by the student in front of the train......Hope less...since devoting the time and hard work  to the studies ....living the hope that will clear subsequent attempts.... your should imagine what will your mind  set...

One thing is clear , the frustration rate is  uncontrollable for the students....

Dont feel inferior about the failure since you had done your level best but ....

It is really very "u-n-f-o-r-t-u-n-a-t-e" that students commit suicide on being declared "u-n-s-u-c-c-e-s-s-f-u-l."

That is why I wrote the article "SECOND SHOT SUCCESS IN CA" - a motivational dose with T..e..a..r..s.....

Such "results" happen due to "misunderstanding" about life. 

We all should rethink about it. 

This is the reason my mission is "Motivation to the Students."

The competition is going to be tough day by day.

Although we are discussing about CA students only; but the story is one and same for other streams !

Three years back; during one Parents' Meeting in a School of which I am a Counselor; one parent raised the question that my ward's performance is not satisfactory as he has scored only 82%.  Since we analysed the matter beforehand; I hammered - Madam, How much you scored in your school days ? She could not answer !

It means the "dreams" of parents are being lodged on poor children.

We all are "idiots" - not only the 3 idiots. In our society also; we "declare" a person successful only when he is  enjoying all the  facilities.

Without knowing what is suitable to self; student tends to follow others.

There are huge opportunities now-a-days in each field. Only common sense in required.

In Surat; I have seen Seven Godowns of an uneducated peron running his business of old copies and books (Raddi). He sells only in Cash.

And see now one "posh" example. All the Diamonds Merchants sell their goods on Credit and many times we see that some are declared insolvent.

(Note that Raddi and Diamonds both are not perishable at all (Raddi is already perished but "real" goods for the trader; of course !) so in that sense both are "EQUAL." Who should sell the goods on cash and who should sell on credit?).

What would you say ?

Which type of education is necessary ?

(Note : So many CAs are now-a-days engaged in non-traditional areas for which no formal education of CA is necessary. They are earning better than the CAs who are engaged in traditional areas).

So students should not be disappointed when they could not  ??????????   in the examination. Refer my article One Shot Success in CA (28 12 2009) for making group of students. It will reduce the burden of studies.

1. MAKE A TEAM OF CA STUDENTS.

2. DISCUSS IN DEPTH ABOUT THE SUCCESS IN LIFE.

3. YOU CAN CHANGE YOUR LIFE.

4. NOBODY ELSE CAN CHANGE YOUR LIFE.

 During the counseling since last so many years; I have  "tackled" so many (types of) students - the most confused students I found are CA Students ! This is one of the biggest reason of their failure - in my opinion. I ask your opinion. 

Dear Rakhecha........

Very nice presentation again.....

The result gone worst..   There is post result effect on CA students.  Winners will focuz on solution  but loosers will focuz on problems...

Problems  have solution...If you focuz on problems it will not solved and got it mulitplied....

If you focuz on solution , the problem will be  reduced....

There was good results since back and studnets are  gone through that stage..If the result is going to be this way....Iam asking you a  question whether will be quit the course or  re adjusted to the toughest situation

So do adjust the situation rather than  further anaysis of Post result analysis or any trand analysis...

I say after 4 years of good results; it is now "r-e-c-e-s-s-i-o-n" in the CA results.

Trade Cycle also affects the CA Results ?

Is the indian economy and  the CA results  have correlation. If yes, there is a global market which demand the service of Chartered Accountang

It is interesting to discuss  CA results with reference to Indian Economy !

Surely; some correlation is there.

Upto 1991; there were no such industrial development.  Initial salary offer to a CA was maximum  Rs.4000/- salary p.m.

I have seen some CAs working for Rs.5000/- to Rs.8000/- pm in CA Firm till 2005 because of not having practical exposure of the subjects.

Fortunatey Indian Economy flourished and CAs had tremendous opportunities therefrom. Further in India there was no "declared" scam (declared only in 2009).

In 1997; VDIS scheme helped a lot to industry to declare their Income.  So "Black money" came into the system "in the form of White - officially of course ! ."  CA helped them in declaration and ultimately it helped CA to establish their practice very soon.

Further from 2002 and onwards; regular developments were made after introduction of  Money Laundering Act. Income Tax PAN number became mandatory.

Home Loan,Personal Loan, Investment through ULIP and Mutual Funds also increased the services of CA which were opened through  Private Sector Banks/Insurance/Asset Management Companies.

Since CS and CWA members were not engaged in Income Tax Practice etc. hence the full benefits were derived by CA only.

All the above matters which I have discussed; are  general in nature. For big firms there was no problem since beginning.

Now CAs have to face new challenges which have been already discussed in the forum.

Due to awareness of INTERNET; so many smart businessmen update their knowledge hence the traditional work is not rewarding.

(See the development made by the Institute : From Auditing to Business Valuation, Restructuring, Planning, Taxation .. .... But right now it has to focus again on A C C O U N T I N G !!!  - Wow ! Due to IFRS) - Now students can understand why more than 85% students could not score 50 marks in Accountancy  in CA Final. A 39th ranker scored only 43 marks in Accounting.

Many times it is felt that Businessmen have more information than CA specially in the cases where tax benefits/exemptions are there. 

ONLY UPDATED KNOWLEDGE WILL WORK IN FUTURE. NOW YOUR MISTAKE IS IMMEDIATELY CAUGHT THROUGH THE COMPUTER ASSISTED TECHNIQUES WHICH WAS NOT POSSIBLE PREVIOUSLY. 

IN FUTURE; CA HAS TO PROVE HIS ABILITIES TO SUCH AN EXTENT THAT EVEN THE MOST SUCCESSFUL BUSINESSMAN  WILL BOW HIS HEAD BEFORE HIM. 

(Right now we are experiencing that 80% marks are regarded as general one. We have to rethink/analyse the quality of businessmen in near future - definitely it would be mind blowing. Whether a general category of qualified member who passed CA with 4-5 attempts would be able to face the questions raised by them?)

Many Many Thanks Monika (readers please refer page 4 of the forum) for your information.

It has opened my eyes also. Your data "forced" me to analyse the situations.

The topic is ...."Eye View" - and your photo shows very beautiful "eye view"  which is equal to  I V U.

i. e.

I, We and You.

We have to stand firmly for the Professional Development AT ANY COST.

Co-incidentally, our Institute's logo also depicts eye of .......(well known for sharp vision).

The active  member Mr rakhecha and mr Alderine had  made the discussion more lively......

Mr Rakhecha had   given a bird eye view of indian economy and the opportunity  opend  by the economy.It is more useful. current scenario is increasing number of ca student and lower pass out percentage.

in sum the passing percentage of CA will depend some extent to the economy trend...

Mr Aldrine also supplimented his insight in to the discussion... I do agree there exist uncertainity  for passing out....

My suggession to the CA student are

If the situation is like this, we have to  expect the suprise and good question in the exam..

Step No 1

Be mentaly prepare for the tougest situation....

Try your soul and body remaining month for exam....

no. of pass candidates are increase but percentage of pass is decrease becouse  no. of students appeared are increase more n more.

Great presentation surendra sir

It is very true Mr. Aldrine.

CA course is not only for brilliant students; but for those who can face challenges or odd circumstances - in the form of "failures."

Not only CA; but almost all the professions require such "experience."

A Film Producer looses crores of ruppes in a single picture... despite having full team of Renowned Director, Stars, Co-Stars, Villain, Editors, Lyrics, Musician, Lightman, Cameraman, Story Writer, Photographer and so on ........PICTURE FAILS on the box office on very first day of release !!!

Even Living Legend Amitabh Bachhchan has to face such struggle (failure) in his initial career ........ultimately he got break from "Janjeer" (he broke the "janjeer" of his failures)!

Students should compare the cost of their failure with the cost of one failed picture.

Right now you are loosing only confidence which can be regained by having POSITIVE THINKING.

If all is OK nobody can stop you to be a Chartered Accountant.

I know one lady (my neighbour in my hometown) pursued CA and got success in 18 years ! Despite facing all the odds in the life (husband expired soon after marriage leaving 2 small children) !

YOU ARE IN A BETTER POSITION THAN HER.

If still you do not have courage; leave CA if you cannot live with odd circumstances.  There are tremendous opportunities in other areas also.  I claim here; your each failure in CA will remind you during whole of your life  that how wrongs are made and you will escape from those wrongs.