Great Thinking Mr.hiral.I agree that most of practicing CAs are above 40s and there is graet scope for young CAs, but i dont agree with you that its difficult learn new things at 40s. It depends on your interest.

anyways good post.

yes.....its all over contract...............but at the last CA can save himself by only knowledge when situation is difficult..............i don't say that above age 40 CA is not getting knowledge.....but my sir taking lecture for IFRS in city like ahmedabad......most of r coming who is CA's.........& above 40's...........the thing is that in some portion young generation must required.............................but not excluded older CA's also.........

With due repect to my fellow freind 's post ,lets analyse whether practice possesses any scope.

In my city following is the scenario.

1)Accounts-u r speaking abt IFRS,barring a few companies, for many  Firms and pvt companies maintianing books of accounts is a pain....u knw why they maintain books of accounts cos they got to pay taxes...Accounting has got value only for public ltd companies....

if u speak to partnership firm-partners abt IFRS /ACCOUNTING STANDRADS,they will say partnership act is only not applicable on them.

this area of work has value only when reporting is done to share holders i e public ltd companies.

2)Tax i totally agree with Akash,it matters how good u r in contacts rather than how good u r in direct tax.....

3)IDT i expect the scenario to be same as of income tax.cos u don forget this is corrupt india.

4)costing- only .01% of industries in india maitain cost records...And there is no much exposure in this area to make a career.

5)Finance-Exposure matters here ,very few CA's have conquered this field

6)Audit-wen accounts ve got no value ,Audit possess any? yes all this is a truth wen u speak abt some big shot firms...doin Audits...whose clients are big companies who respect audit....

This is wat i ve seen ..

My Dear Deepak...........you are absolutely right.........there is no more scope in practice....but you have seen just only your city............i have seen in Ahmedabad that there is lot of scope in practice.........But first audit can get from contact but maintaining is only from knolwedge.........................ya this is courpt india...no company wants to pay tax.........but there r also right........is they are  100 % use of taxes in india....no our taxes in there  bank a/c.................................but its thing after all about this.................the Qu. is practice or job which is better.......every one has different attitude, social prblm......interest.......etc.......effect this matter,,,,,,,,,,,,,,,,,,,,,,