Monday, 1 December 2014
Sunday, 30 November 2014
Saturday, 29 November 2014
At 50,000, 22% of CAs in India are women
CHENNAI: The number of women seeking to get into the number-crunching profession of chartered accountancy (CA) has taken a big leap in the past couple of years. Female enrolments to the Common Proficiency entrance test (CPT) for the CA course, conducted by the Institute of Chartered Accountants of India (ICAI), have increased 51% over the past two years (between 2012 and 2014). From 27, 784 in 2012, the number of women taking the test went up to 33,460 in 2013 and further rose to 41,957 in 2014.
"There is a positive trend in the intake of all professional courses in general and more so in CA, because of high levels of employability it offers and its flexibility. Whenever the intake goes up, it is the women who contribute more to it," said K Raghu, president of ICAI. Girls from humble backgrounds are transforming the lives of their families through this route and in the absence of capitation fee parents are also supportive of their daughters picking CA, Raghu added.
No wonder that the number of qualified women chartered accountants is steadily rising.
As per ICAI's data, women CAs made up 20% of the total membership in 2012, a figure which rose to 21% in 2013 and now (in November 2014), women make up for 22% of CAs. Currently, there are almost 50,000 women CAs.Experts say with education increasingly becoming the key tool for empowerment, the appeal of professional courses is rising and that is seen in the finance profession as well.
Narayanan Ramaswamy, partner and head of education sector at KPMG, feels that the nature of the course suits the systematic and studious temperament of girl students. Ramaswamy said that the flexible professional life that the course offers is a huge draw. A CA with a license to practice the profession can work from home and at the same time serve clients worldwide with the technology support available today. "The fact that one can get back to the profession even after a break, by staying updated, is increasing the interest for the course with women," says Ramaswamy.
Sripriya K, a practising CA who is one of the six women partners in a Chennai-based CA firm, is a case in point. She quit her well-paying consulting job at a top multi-national for her family and after this break, started her own CA firm along with some like-minded women. She believes that being good at multi-tasking, women take to CA naturally and excel in it.
To address dilemmas that are specific to women CAs, the ICAI has now launched a work portal for women to find part time jobs, jobs with flexi hours
The requirement of Companies Act, 2013 to appoint a woman director in every listed company and every public company with a minimum paid up share capital of Rs 100 crore or an annual turnover of at least Rs 300 crore, is likely to
What to do after Exams ?
Now as the exams have been finished, question is what to do next?
We can see two categories of students –
– Both Groups
– Given Single Group
Through this post I would like to share some points which both categories of students can do to utilize the time in an optimum manner.
So let’s start with it:
Both Groups (Including whose 1 group have been cleared and have given second in Nov 14)
Visit the following sites to have better understanding of the practical life:
http://www.incometaxindia.gov.in
https://www.aces.gov.in/
http://dvat.gov.in/website/home.html
Look for the following in the above sites:
a. How to file Returns i.e. income tax, Service tax, Excise, etc.
b. How to apply for PAN
c. Various form i.e. 26AS, TDS Forms, etc.
d. Various tie ups with other countries
Update yourself with:
– M.S OFFICE
– MS EXCEL
– POWER POINT
a. Look for the videos on YouTube regarding formulas on M.S EXCEL, OFFICE, ETC.
b. Consider yourself as a CA WHILE DOING above.
c. Make a dummy company and prepare balance sheets, Excel sheets etc.
Demand of the Industry –
At this point, you are a product but you need to work out as to whether you are worth buying product. Try to update yourself for present day industry needs because yours examination may provide you the degree and a brand but not necessarily the encashment to such a degree and a brand. Visit www.icaitv.com and cmii.icai.org to get a flair of Industry expectations from you(Courtesy for this point Kamal Garg Sir)
Students who have given just 1 group –
a. If you are very sure that you would clear the group in this attempt itself, then make a study plan and start your preparations from December itself.
b. Collect all the amendments applicable for May 15 examinations.
c. Who are not sure about the exams I would recommend to at least complete the second group before the results so that they are in a suitable position of attempting both Groups in May 15.
d. Don’t wait for the results start your preparations from immediate effect otherwise it will leave a retrospective effect.
Other points –
a. Students who have given both groups may start looking for job who are done with their article ship. (Opinion may differ)
b. Work on your vocabulary as well spoken English.
c, And that’s it.
P.S: Many of you may find it silly as these are very general recommendations but as per me these if followed can change your life.
All the very best for results.
About the Writer –
CA Final Student (Gave Nov 14)
CIMA Management Level
B.Com (P)
For any further help writer can be contacted at sanyam.arora27@gmail.com
Source : caclubindia
Friday, 17 October 2014
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Saturday, 20 September 2014
IPCC Auditing Important Questions for Nov 2014 Exams
Auditing Questions for Nov 2014 IPCC Exams
By
2. Types of Audit Report/ Audit Opinion.
3. Surprise check.
4. SA 200, 210, 220, 240.
5. CAR0, 2003 – 4m (refer to summary)
6. Vouching and verification – 16m (refer class notes)
7. Basic principles governing an audit.
8. Duration of auditor’s office.
9. Appointment of auditors.
10. Ceiling Prescribed on number of audits in the companies act.
11. Matters to be verified in the audit of dividend.
12. Provisions relating to Branch Audit.
13. Types of Reserves AND Objects of creating each.
14. Discuss about cost Audit.
15. SA 320
16. Design and Special Characteristics of EDP Systems.
17. CAAT requirement in EDP audit.
18. ‘Audit Trail in a computerized accounting environment’.
19. AS 1, 4, 5, 9
20. Controls in an EDP environment.
21. SA 700, 705
22. Audit of commercial accounts.
23. Audit of Stores and stocks.
24. Approaches to auditing in a computerized environment.
25. Letter of weakness.
26. Audit of Hotels
27. Audit of Charitable institutions.
28. Audit of Incomplete records.
29. Audit of Cinema Theater.
30. Methods to obtain Audit Evidence.
31. SA 230
32. Depreciation vs. fluctuation in value.
33. Revenue expenditure.
34. Special Audit.
35. Removal of auditor before expiry of his term of office.
36. Concept of “True and Fair”
37. Powers and duties of C&AG.
38. Procedural aspects relating to leasing transactions.
39. Audit of Government expenditure.
40. Audit procedures to obtain Audit Evidence.
41. Duties of the auditor.
42. Audit of hire purchase transactions.
43. Accounting Standards as per companies act 2013
44. Audit of Sweat Equity shares
45. Audit of Buy back of shares
46. Audit of forfeiture of shares
47. SA 505
48. SA 501
49. SA 610
50. Methods to evaluate ICS
To Download Go To : www.lokeshauditclasses.com
Prepared By CA.Lokesh.C.V Sir
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