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Unnecessary Pain....by Institute

Keyur (Article Trainee) (33 Points)

09 February 2010

well with all the new IDEAS and the soooo called IMPROVEMENT by our ESTEEMED institue...i have started to think that is it worth becoming a CA with all the fuss going around.....dont get me wrong guys...but i am just sick of the GR8 changes that our institute brings at cost of our carrier.... it has got me thinking that whether it is worth going on with this course......and of everything else please some one explain to me as to why.....some CA's who form the sooo called improvement council...do nothing but increase the pain in our assssss as if we dont have the burden of studies already

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15 Replies

jose.p (CA in service) (1676 Points)
Replied 09 February 2010

icai instead of bringing unnecessary and stupid rules in articleship should rather concentrate on improving its infrastructure, and market the CA profession; and try to create abilities in CA, which mba s from elite schools have

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Rahul Bansal (Finalist) (35929 Points)
Replied 09 February 2010

THANKS FOR YOUR OPINION.........

BUT I THINK WHAT ICAI IS DOING.........IS ONLY TO COPE UP WITH THE INTERNATIONAL COMPETITION & REQUIREMENTS AS THEY FEEL NECESSARY,,,,,,,,

koolleo87 (1268 Points)
Replied 09 February 2010

ICAI is unnecessarily competing with the MBA's and business professionals. CA by its core function has always been and always will be a Compliance professional. Whether it is tax or audit or Roc or whatever. One cannot have the best of all fields and you cannot teach everything in every god damn area to a CA... CA is a good course, agreed. But MBA's are a different breed altogether. MBA's plan strategies, generate revenues, make the company grow. CA's cannot do that. CA's can move from compliance to Cost Centres. Not beyond that. Not that we are incompetent. But it is not our area. We dont have practical training nor theoretical education in all that. So we just cannot. Simple as that.

chota_accountant (wanna b CA) (54 Points)
Replied 09 February 2010

then r v gud only 4 routine paperwork-compliance r can v make things happen r give value addition to the organisation

koolleo87 (1268 Points)
Replied 09 February 2010

If you referring to WE as a CA, then yes. If you referring to WE as people, then you opt for MBA or gain experience in the relevant field by starting off as a fresher and then gradually moving up....

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Rishabh Mishra (C.A Final) (144 Points)
Replied 09 February 2010

hey Mr. Kooleo...the compliance function is only one of the several functions which a CA can perform....how can u say that a CA cannot chalk out a profitable strategy for the company and make them grow...a CA having a more broader knowledge base than an MBA is the best policy maker....i m of the view that a MBA can only speak english flawlessly....

chota_accountant (wanna b CA) (54 Points)
Replied 10 February 2010

Speaking english flawless is no big deal. In that case ideal job for mba's would be in call centres not knowledge centres.( with due respect to call centres).

But I do think that CA's ( atleast most of them) cannot come out with out of the box ideas as MBA's do. A student of IIM cannot be compared even with a rank holder in CA.

chota_accountant (wanna b CA) (54 Points)
Replied 10 February 2010

CA students lag behind when it comes to Information technology ( even with 100 hrs of ITT) as we are good only in ms office & tally, except few people who may have knowledge of Sap, oracle, c++ etc.

chota_accountant (wanna b CA) (54 Points)
Replied 10 February 2010

Most of the CA students cannot match the enthusiasm & spirit of initiative shown by MBA students - could be due to regular stream of college vis-a-vis distance education mode of CA.

chota_accountant (wanna b CA) (54 Points)
Replied 10 February 2010

MBA's should not be compared with CA's

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koolleo87 (1268 Points)
Replied 10 February 2010

@ Rishabh Mishra. Please answer this:

1) Why is it that top 4000 MBA grads bag fatter pay packages and plum posts than CA's every year ??

2) Why do Accenture, Boston consulting group, Mckinsey, and strategic & business consulting arms of all the companies, Financial advisory departments of even Big 4's do not even reply to resumes of even rank holder CA's but make a queue outside B schools to recruit MBA's ????

koolleo87 (1268 Points)
Replied 10 February 2010

@ Rishabh MIshra

If you say a CA has more knowledge than an MBA, then tell me what knowledge you are talking about ???

Basic Rule of Economics - Knowledge of taxation, auditing, Laws can NEVER lead to wealth creation for society.

To quote Dhirubhai Ambani, ( AB junior in GURU ) - Mujhe yeh tax, woh tax samaj mein nahin aata. Main bas kelasil banana janta hun. sabse sasta aur sabse saste daam main. IT SIMPLY MEANS - COMPLIANCE CAN NEVER GET YOU TO THE TOP. INNOVATION AND STRATEGY WILL....... These two things find no mention in CA curriculum. But it is found in the form of case studies and group discussions in MBA colleges which everyone wrongly refers to as '' Communication skills ''

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Krunal Raichura (Financial Advisory) (2134 Points)
Replied 10 February 2010

What Koolleo says is right.

The expertise of CAs is in accounting, auditing and taxation. Rest of the subjects which we have in our syllabus like Information Technology, Financial Management are surely good subjects but their syllabus under the CA course isn't good enough for a CA to be hired for a strategy consulting/financial advisory services and many other profiles.

The other part is that in articleship training, one hardly gets exposure to anything beyond accounts, audit and tax work.

Therefore, we all need to understand that CA is a great course (rather the only course) for those who want to make a career in accounting, auditing and taxation.

But for people who want to make a career in strategy consulting, financial advisory services, marketing, etc., CA is not a good idea.

Krunal Raichura (Financial Advisory) (2134 Points)
Replied 10 February 2010

@ Keyur - Your questions are justified.

All that I can say is that, if you want to make a career in accounting, auditing and taxation, CA is the only course that can help you.

However, if you are looking for anything outside the aforementioned areas, then your concerns are correct, and CA wouldn't do any big miracles for you. You may go ahead and complete CA if you want, but make sure you do industrial training with a reputed firm, at the same time you start preparing for MBA or CFA, only then, it will be possible to get a decent job in a strategy consulting firm or into an Investment Bank for a business profile.