Headline of this Article:
- know about what is your assets in this profession
- what to learn in these three years of article ship
- different area of mastery in CA profession
If you have a vision for your future that you can become a successful CA then believe me you must be serious with your article ship training. You must always remember that you are known by the quality of work and not by qualification alone. CA Qualification serves as a gate pass only. The quality of work and skills matter most. You must have patience and a learning mindset which requires innovation and hard work style.
As an article clerk you may have an exposure on a variety of areas. Now when you become a professional, can you prove your capability of handling issues in the Book keeping, Financial Accounting, Cost Accountancy, Company Law, Direct Tax, Indirect Tax, Auditing, ERP, IT Audits and Financial Planning.
There are only a few big firms who are offering all the above comprehensive learning in the three years training cycle. These trainings done diligently allow a life time learning which becomes an asset . You must always remember this is the golden period of life which must be catalyzed. You can’t miss this period because it develop you as an intellectual professional who knows the pulse of auditing and accountancy.
Hence as a trainee or an intern you must put yourself to the learning from the under given check list :
- Basics of book keeping required professionally.
- Financial accountancy using the accounting software like tally.
- Company Law compliances regarding MCA site
- Tax planning and compliances including filing returns for various entities including NRI, Corporates, firm, cooperative societies, HUF etc
- Indirect tax planning covering Custom
- Indirect tax planning covering Excise.
- Indirect tax planning covering Service Tax
- Emerging areas like Foreign Trade Policy
- Traditional Auditing covering internal audit, statutory audits
- New type of Auditing ranging management audit, Balance Sheet Audit ,IT audits and System Audit
- Financial management including capital budgeting and trade finance
- Growth areas like Hedge fund, Derivative, share market operation
- Sunrise sector like IND-AS and IFRS
- High demand areas like GST which will be mandatory from 1.4.2017
- New sectors like financial literacy ,XBRL
- Accounting and auditing of NGO sectors/ not for profit sector/ trust
- Niche professional areas like Financing of power sector, infrastructure sectors
- Product costing using traditional and new ways like ABC costing, kaizen costing
- Micro Soft skills of Power point Presentation, Excel word required for the clients
- Norms of accounting and auditing of Banking and Insurance sectors
- Decision making both financial and non -financial in various business scenario
- Strong Communication skills which give confidence to yourself and clients
- Newer areas like Transfer pricing, International taxation
- New opportunities areas like business branding, due diligence, valuation of business
- Even a CA can qualify certain subjects and can get foreign qualification like CPA/ACCA
- Finally the analytical and innovative mind puts him on the cockpit of the engine of growth of the country and the world at large.