Interesting Question to All CA's., Becoming CA's

nice post.... just we have to think what we are.......

As we know every one cannot everything..we only go to a teacher in order to learn something..we got o a doctor when we get ill..similarly Ca's are professional who manage your finances..these people are proficient at channelising your fund in such away that the person bears minimum tax liability and gives you maximum return thru different investment..It's Like if not they Who Else.C.a  is not profession of jhol..it is  dignified profession..Needless to say, this profession contributes towards the development of our country as it ensures that various tax provisions are abided with and we all know that this tax revenue are used towards building our infrastructure..those who say that, this profession is all abput black money , jhol n all should realise that every profession has got two faces.. one is good and the other one would obviously be bad..its upto us, how we perceive thing..you might feel that what i am saying is impractical..but Actually its not..i have always taken this profession as the way to manage our finances..We are TAX PLANNERS and not TAX AVOIDERS

I can speak atleast for 15-20 minutes on our profession!

yaa we can talk for a long time, provided the listener is capable of understanding what we actually do. CA is a technical course but its difficult to tell in layman's language.

The Chartered Accountants are entrusted with substantial responsibility under various legislations such as compulsory audit of the all companies, banks, stock brokers, big income-tax assesses, large bank borrowers, etc. 

This shows the confidence and trust reposed by the Government and society in the profession.  T

he society has increasingly recognized the services of CAs in the entire gamut of management consultancy services including management accounting, management information and control system, international finance information technology and financial services sector.  The types of functions generally performed by the Chartered Accountants are quite varied; some of the important ones amongst them are listed below:

 (i)        Accountancy: The writing up of accounts and the preparation of Financial statements from the simplest receipts and payment Accounts of a small club to the complex and detail accounts of large public limited companies.

(ii)         Auditing:  The purpose of auditing is to satisfy the users of financial Statements that the accounts presented to them are drawn up on Correct accounting principles and that they represent a true and fair view of the state of affairs.

 (iii)        Taxation:  The assessment of taxes is closely linked to financial Accounts.  The Chartered Accountant with his experience in accounts is in an advantageous position to prepare the returns for tax purposes, represent assesses before the income tax authorities and render general advice on taxes to his clients.  The services of CA may be requisitioned by the tax department for auditing taxation cases with large revenue potential.

 (iv)     Cost Accountancy:  A Chartered Accountant is equipped to provide information on costing for the guidance of management, introduce cost   control methods and assist the management in determining  appropriate  selling prices.

 (v)     Special Company Work:  The services or advice of Chartered Accountants are frequently sought in connection with matters such as the formation, financial structure and liquidation of limited companies.

(vi)    Investigation:  Chartered Accountants are often called upon to carry out investigation to ascertain the financial position of business house for the purpose of issue of new shares, purchase or sale or financing of business, finding out reasons for increase or decrease of profits, reconstruction and amalgamations.

 (vii)  Executors and Trustees:  A Chartered Accountant is also often appointed executor under a will or trust in order to carry on the administration of the estate or settlement.

 (viii)Directorship:  Many members of the Institute who hold senior positions in industry and commerce are also directors of their companies.

 (ix) Companies Secretarial Work:  As a Secretary, the Chartered Accountant is an important link in the management chain.

 (x)  Management Accounting:  The Chartered Accountant’s service is utilized in a variety of ways like formulation of policies, control and performance evaluation.

 (xi)Share Valuation Work:  A Chartered Accountant undertakes the valuation of shares of public and private companies at the time of amalgamation or reorganization.

 (xii) Other Activities:  Other duties undertaken by a Chartered Accountant includes those of an Arbitrator for settling disputes  specially those connected with insolvency work such as the preparation of statements of affairs and the duties of a trustee in bankruptcy or under a deed of arrangement.

             To be good Chartered Accountant, you require not just business acumen and numerical ability, but good communication skills, objectivity, independence of thought and integrity coupled with the ability to work under the pressure of deadlines.

Thank you to all my folks for your great Co-operation with me..

Warmful Regards,

A.Jayasri

C A  , C stand for Committment ( Strong committment) A stand for Good positive attitude.