Before Joining CA ARTCLESHIP

Important Things to notice while joining CA ARTICLESHIP

Artticleship:

     This platform was introduced to CA Students by ICAI to gain practical experience, knowledge of work and making them aware of what they have read theoretically.

Undoubtedly this is one of the important phase of CA course. A phase where a Chartered Accountancy students is transformed to CA, where he/she learns to deal with clients enterpernuers and much more blissful things in his career.

the course passes on as article student dreams himself/herself in the place of  his employer  Chartered Accountant.

But after joining the articleship many come across various troubles and just feel "OK" by convincing themselves saying this is articleship, after completing the course the students are in hurry to get into any firm, or even first interview thinking the wont be able to get any other employer for them

here am gonna discuss about some serious issues which you should look for before joining Articleship!

CAREER:

   Prepare a Future plan decide and integrate what you wish to settle what are your interests?
Do you like Taxation? or you looking for specialization in Income Tax or Accounts is what you prefer above all?
when you are clear with your side of preferences consult a CA ask him which one among your interests has the best demand in the market.
Select the firms as per your interest , The CA firms are also transparent with their work and they will convey you the audits they have whether those Conventional or concurrent Audits?

For example:
if your interest is income Tax then search for the firms which file huge IT returns and have specialization in Income tax.


Firm and Availability :
           When you are clear with your options start you search for the Firm that suits with your requirements.
here are some  minimum qualifications for the firms
1. A lot of Experience on IT returns , project Funding and also good number and reputed companies for Audits
2. More than One CA who can guide you till the end of your phase
3.Outstation Audits
4. Good Reputation in the market

Place Of Employment :

Where there is Wealth there is/are CA/CA'. Wealth concentration is more where population is abundant, like metropolitan Cities . Go for and find some best places reachable yet affordable  and also enriched with lots of wealth Industries, Companies Banks and other Financial Institutions.

Stipend:
 An important matter is of stipend . Everyone feels he/she is in full time employment and stipend is the the SALARY for them. Students be aware of the Fact , Stipend is given as applying the fundamental of work should be paid and be clear with the point that you are still a student and not a EMPLOYEE.
As per ICAI norms the amount prescribed is less . Do not make your issue come across your articleship and you will loose a Good firm

Senior Articles:
            Before joining the firm discuss the atmosphere of workplace with the articles the work conditions and all other related issues which you think you should know.

Transfer Of Articleship:
                   After one year of your articleship, If you wish to change your workplace you can apply for transfer of articleship but though the its not encouraged in the professional way.  But ypu can still opt it as per your aminity

CA IPCC Accounting Group 1

IMPORTANT TOPIC/CHAPTERS IN ACCOUNTANCY GROUP 1

           As you know our profession ends with this one word & yet so powerful.Before you start up with any subject there is one Vital rule to know

"NO Topic & No Chapter can  be ignored focusing exams". Every topic has got its importance but as referring to the past papers we conclude some chapters which have the maximum probability of being questioned.

Know your potentiality in this subject. Whether you are a Commerce student or other student?
If you are an commerce student only one way to crack accounting is "PRACTICE"
Many students feel auditing and cross checking the figures is enough. If you do not wish to practice you cant even learn A B C "s of accounting.Start with basic concepts and do not directly enter to solve the problem
it will end you up by confusing yourself.

there are tow subjects in which you can score as much as you can
one is accounting the other is Taxation.

for easy and good understanding we have divided the whole concepts into two categories based on  their weightage for exams, which are subdivided into two more categories each.

Category 1:

Weightage for the exam 8 to 16
chapters:

First Priority:
Partnership Accounts
Amalgamation and Internal Reconstruction
NPO
Accounting Standards    8 to 20 marks

Second Priority:
Cash Flow Statements
Accounting from Incomplete Records

Category 2:


weightage for the exam 4 to 8 marks:
First Priority:
Insurance Claims
Accounting in Computerized Environment
Investment Accounts
Average Due Date

Second Priority:
Account Current
Self Balancing Ledgers
Company Accounts Preparation


Must Asked Chapters:

NPO
Average Due Date
Investment Accounts
Accounting Standards
Partnership Accounts


Alteration and conversion of Share Capital

the above analysis is prepared by crawling through the past question papers , deciding the probability  and not by the possibility. The effort behind this article was to guide the students to set the priority , covering all the concepts . However the question paper may change depending on the decisions by ICAI.

Every CA students Should we aware of fact that

"No topic can be ignored focusing for CA exams"

Service Tax of Crores Unpaid :

  Hundreds of Crores of service tax was lying with in the hands of defaulters as said by the service tax Authorities . It also warned to crack down who have defaulted the payment. If this was the case under Hyderabad jurisdiction what will be figures due in the whole other parts of countries.


    Inspite of collecting the tax from customers and not depositing the same conveys evasion was made intentionally, which came to the officials note and small notice was give to get ready for the prosecution.


section 89 of the finance act 1994 and section 87 states if the amount to be paid is more than 10 lakh or more in such a case the act has empowered officials to recover dues in fraud cases.
two groups named Anti Evasion Group and Survey Intelligence Group will prepare list of defaulters and dues across various categories , while the recovery action will be carried by Anti Evasion Group.

The amount of service Tax is  was being left unpaid for a decade , and the provision of  empowers for direct recovery without prior notice

we still do not know the exact reason behind so late awakening but at last they have awaken for something strict. The toppers in the list of defaulters were hotels , travel agents , internet service providers, & rent for commercial reasons , channels , bars & restaurants.

        If the defaulters still wish not to comply with the provisions result in attaching the immovable property belonging to or under the control of such person . If the payment is not made within 30 days of attachment , the property so attached can be sold for tax to be recovered.


Hope the news was Caveat Emptor awareing them of their fraud to run for help to Chartered Accountants

ITT Training for Direct Entry Students



Relaxation in Completion of Information Technology Training (ITT)  for students enrolled under 
Direct Entry Scheme on or after 1st October, 2012.


Students’ who have registered for the Intermediate (IPC) Course under Direct Entry Scheme on or after
1st October, 2012 and fulfil the prescribed percentage    criteria can commence practical training on completion of Orientation Course.

  Such students shall be required to complete Information Technology Training
(ITT) latest by 31st May, 2013.

  Such students shall also be eligible to appear in the Intermediate (IPC)
Examination to be held in November, 2013 by completing 9 months of practical
training and 8 months of study course concurrently.

Click here to know more details 



CA FINAL Amendments for MAY 2013 part 2

Applicability of the Institute’s Pronouncements and other  Notifications for CA Final Examination May, 2013

Paper 1: Financial Reporting

A. Pronouncements 
I. Statements and Standards
1. Framework for the Preparation and Presentation of Financial Statements
2.  Accounting Standards - AS 1 to AS 32.
II. Guidance Notes on Accounting Aspects
1. Guidance Note on Treatment of Reserves created on Revaluation of Fixed Assets.
2. Guidance Note on Accrual Basis of Accounting.
3. Guidance Note on Accounting Treatment for Excise Duty.
4. Guidance Note on Terms Used in Financial Statements.
5.  Guidance Note on Accounting for Depreciation in Companies.
6. Guidance Note on Availability of Revaluation Reserve for Issue of Bonus Shares.
7. Guidance Note on Accounting Treatment for MODVAT/CENVAT.
8. Guidance Note on Accounting for Corporate Dividend Tax.
9. Guidance Note on Accounting for Employee Share-based Payments.
10. Guidance Note on Accounting for Credit Available in respect of Minimum Alternate
Tax under the Income Tax Act, 1961.
11. Guidance Note on Measurement of Income Tax for Interim Financial Reporting in
the context of AS 25.
12. Guidance Note on Applicability of Accounting Standard (AS) 20, Earnings per Share.
13. Guidance Note on Remuneration paid to key management personnel  – whether a
related party transaction.
14. Guidance Note on Applicability of AS 25 to Interim Financial Results.
15. Guidance Note on Turnover in case of Contractors.

16. Guidance Note on The Revised Schedule VI to the Companies Act, 1956


continue your reading here

Important Amendments For CA IPCC may 2013 part 2




Applicability of the Institute’s Pronouncements and other Notifications for CA IPCC Examination May, 2013

                                   Paper 1: Accounting


Pronouncements

Accounting Standards 1, 2, 3, 6, 7, 9, 10, 13 and 14 are covered in the syllabus.

Note : Non-Applicability of Ind ASs for May, 2013 examination

The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the Indian Accounting Standards vis-à-vis IFRS. These standards shall be applied for all companies falling under Phase I to Phase III as prescribed under the roadmap issued by the core group.
Students may note that Ind ASs are not applicable for the students appearing in May, 2013 Examination. However, Accounting Standards as specified in the syllabus are applicable for the students appearing in May, 2013 Examination.


continue your reading here

PART 1 

Reference books for CA IPCC

After browsing through the Internet and finding , debating for long time , we have come up
with the below suggestions and reference books for CA IPCC

the need for the reference books is must in every course and CA is the only one
Due to stiff competition in exams ,vast syllabus , very narrow description has made students to find books
that give more scope for understanding the concepts which ICAI"s Study materials cannot provide. As the books are written by the persons who are into the subjects for long time students find easier to refer those books than by ICAI .

Before Starting your study :
1.Make sure you follow one standard book excluding ICAI's materials as ICAI books are must to read.

CA IPCC

GROUP1.

ACCOUNTING                                                         -P .C TULSIAN
LAW ETHICS & COMMUNICATION                    - MUNISH BHANDARI
COSTING & FM                                                       -P C. TULSIAN
TAXATION                                                               -T N MANOHARAN


GROUP 2
ADVANCED ACCOUNTING                              -P C TULSIAN
AUDITING ASSURANCE                                    -PADHUKA
IT & SM                                                                 -STUDY MATERIAL By ICAI


Before:

Do not neglect ICAI study materials & practice manuals they do not publish them for no reason.
we are the students of ICAI & our negligence for not studying will surely show a considerable impact during exams. Practice manuals are good source to revise all the concepts covered. Make sure you have studied all the topics and concepts and known them . At the then you start up with manuals they are surely gonna increase your confidence levels they are prepared by faculty of ICAI considering the exams and the students

more reference:
SCANNERs
RTPs

Discontinuation of PCC (Professional Competence Examination)(PCE)


As notified in the ‘Implementation Schedule’ on the Institute website, students who are pursuing Professional Competence Course (PCC) are hereby informed that the Professional Competence Examination (PCE) will be discontinued on culmination of November, 2012 examination. PCC students who wish to continue their studies in      Chartered Accountancy Course, are required to switchover to
Intermediate (Integrated  Professional Competence) Course immediately and students who are appearing for
November, 2012 Examination, may switchover to Intermediate (IPC) Course after
declaration of PCE result, by fulfilling the following procedure

how to change frpm PCC to  IPCC?
Amount fee to be paid & much more deatails below


NOTIFICATION BY ICAI HERE

CA FINAL Amendments for MAY 2013

This supplementary study paper has been prepared by the Board of Studies Faculty of The Institute of
Chartered Accountants of INDIA with a view to assist the students in their education.

While due care has been taken in preparing this supplementary study paper if any errors omissions are noticed same can be brought to the notice of Board Of studies



DIRECT  TAX LAWS

INDIRECT  TAX LAWS

CA FINAL AMENDMENTS FOR MAY 2013 as per the Notification By ICAI

CA CPT/IPCC/FINAL Video Classes


                                                                CA CPT

FUNDAMENTALS OF ACCOUNTING

106 Non Manufacturing Entities Lec 06 



77 Rectification of Errors Lec 06 



MERCANTILELAW

Rights,Duties & Liabilities Lec 03 



Performance of a Contract Lec 01 



ECONOMICS

Economic Reforms in India Lec 03 



Economic Reforms in India Lec 01



                                                         CA IPCC GROUP 1

ACCOUNTS

Single Entry Lec 07 


COSTING

Labour Lec 02



Contract Costing Lec 02 



Financial Management 

Financial Management Lec 01 



COST OF CAPITAL 



INCOMETAX ST VAT

Income From House Property Lec 02 



Income From House Property Lec 05 



                                                        CA IPCC GROUP-2

ADVANCED ACCOUNTING

Departmental Accounts Lec 09 



AUDITING

Company Audit I Lec 02 



                                                                    CA FINAL

FINANCIAL REPORTING

Accounts Final Amalgamation Lec 01



DIRECT TAX

Lec 1 Charitable Trust 



INDIRECT TAX

Export Lec 01 


CA FINAL/CPT 2013 results to be declared on JAN 21


The result of the Chartered Accountants Final Examination held in November, 2012 and Common
Proficiency Test (CPT) held in December, 2012 are likely to be declared on Monday, the 21st January,
2013 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55%
and above marks and upto the maximum of 50th Rank in the case of Final Examination and candidates
securing a minimum of 60% and above marks and upto the maximum of 10th Rank in the case of Common
Proficiency Test and in accordance with the decision of the Examination Committee) on all  India basis will
be available on the following website:

                                               check them here 
continue your reading here 

Important Topics/chapters for CA IPCC




                                                            *Group1
Accounting
-Avg. due date(4)
-Partnership(16)
-Pre-incorporation(8)
-Amalgamation/Internal Reconstruction(16)
-Hire Purchase(8)
-NPO(16)
-Cash flow(16)
-Single entry(16)
-Imp. AS(revenue recog.,contract,dep.,fixed asset)

brief overview here
IMPORTANT TOPIC/CHAPTERS IN ACCOUNTANCY GROUP 1


*Law,ethics & communication
-Bonus(8)
-Gratuity(8)
-last 3 chptrs of Indian Contract Act,combined (10)
-Share Capital,General Meeting
-t/f transmission of shares,Membership
-Share allotment,prospectus n MOA
-ethics(full,dont leave anything)
-comm.(deeds are very important.) and communication theory,rest of the chapters
 ALSO CHECK
IMPORTANT QUESTIONS  CHAPTER WISE FOR LAW
*COSTING & FINANCIAL MANAGEMAENT

-Contract Costing,Material
-Reconciliation
-Standard,Marginal
-Labour,Overhead,Process Costing

-Capital budgeting,leaverage
-Working Capital,Receivable Mgt.
Cost of Capital,Ratios

*DIRECT TAX / INCOME TAX
-Salary(RFA,HRA,gratuity,pension,leave salary...motor car facility n few more perquisites,all allowances r imp. shudnt b ignored)

-Business proff.(thz sec r d most imp. 1s viz sec 32,40A2,40A3,43B n topics lyk deduction in case of scientific research,writing off of preliminary exp.,ques related with book profits n cash payments in excess of 20,000 n payments tht can b made n claimed till ROI filing date ie d above sections mentioned)...dnt leave ths chptr FCAs plz,it's coming of 16 marks since May'10 in evry attempt.

-Capital gains(exemption related sections,forfeiture sec 51,conversion of capital in2 stock n sec 47)
-ROI,TDS,deductions(80C,80D,80DD,80U,80G)
-Clubbing,other sources

*Service tax n VAT (fully) dnt leave anythn,r SCORING

                                                             *Group2 
Advanced Accounting

-Partnership(16)
-Amalgamation/Internal Reconstruction(16)
-Branch A/c,liquidation,banking,insurance...all may come of 8 marks each
-Underwriting,departmental(5 each)
-imp. AS(borrowing cost,govt. grant,eps,lease)
-debenture chptr(16)

*Auditing

-Vouching,verification
-Co. audit 1 n 2
-Spcl. Audit
-EDP,govt. audit,Caro
-200 300 500 series SAs r imp.

*IT

-internet
-networking
-Dbms
-flowcharts
(almost carry 40 marks weightage)

*SM (full)


CA IPCC TAXATION Supplementary material for may 2013

CA IPCC model test papers for NOV 2012


Students are advised to prepare the full syllabus well for writing November 2012 IPCC Exams.
These MODEL PAPERS are only useful to test your knowledge and preparation levels.
 Even if some questions repeat in the main examination, it is purely co-incidental.

Master minds management or its staff members are not at all responsible even if questions or problems given in these MODEL PAPERS don’t repeat in main exams.

                                                                  AGREE

ICWA COURSE AND FEE DETAILS


The details about the Cost  Accountancy program has been provided below:

Duration:

Foundation Program- 6 months
Intermediate Program- 12 months
Management Training- 36 months
Final Course- 12 months

If you have completed graduation, you will be getting complete exemption from the Foundation Course and therefore, you will have to enroll directly for the Intermediate Course which will be followed by the stages as mentioned above.

Fee Structure:
Foundation Course- Rs. 3500 for both Oral as well as Postal mode.
Intermediate Course- Rs. 15700 for Postal mode and Rs. 19700 for Oral coaching mode
Final Course- Rs.11500 for postal mode and Rs. 16500 for oral coaching mode
Computer Training- Rs.3400
Modular Training Fee- RS.4000

For complete information about the Cost  Accountancy course, refer to the official website of The Institute of Cost Accountants of India.





Do Not Copy

Protected by Copyscape Online Copyright Protection