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So You Want To Do Articleship?
Initial Experience Articleship Scheme Is CA cheap? The Stipend Dummy Articleship Control Mechanism Notes for serious aspirants 1. The big four… 2. Other bigger Indian firms… 3. Why is that the information on these so limited… 4. Is big beautiful… … Continue reading
sir please tell me weather there is any last date for submission of registration forms for ca final
http://indiapoint.net/ca/2009/08/20/icai-exams-online-application/comment-page-1/#comment-732
sir can u tell me weather coaching for ca final is better in nagpur or in pune.
I guess its Pune which is considered better.
Sir i have an option of joining E&Y(direct tax) and PwC( stat audit). I am not sure of doing only tax for the 3 years and that would mean no auidt at all. I do want to join a big firm. So i am choosing PwC .
what is your opinion ?
Everyone has his choice, and audit is good enough. But since you are joining at the article level – be sure that you are gradually assigned high end tasks of audit – and not keep doing only vouching / verification / data collection.
Of-course when one is a CA and doing audit, finalising balance sheets and audit reports – it becomes exciting.
At a personal level, I have always found tax work more intellectually stimulating than audit.
sir i want to do articleship in good firm plz suggest me
Plz read http://indiapoint.net/ca/2006/02/27/articleship/comment-page-1/#comment-31 and other previous comments
Sir
If I want to go for practice in a comparatively small city (my hometown) then is it right to do articleship in tax department in any of the Big4 or should I go for a middle size firm?
In such case definitely a mid size firm or even a big prop. firm is prefereable. I would suggest that just see that the firm is around 10 to 15 years old – because in such cases there is good variety of work available. Also, now that ICAI has relaxed transfer rules in first year of articleship – change firm before the end of first year. That would again give you a good exposure to different perspectives, and the way CAs / Firms / Staff / Clients interact.
Sir
Thank you Sir for your guidance.
One more thing I want to ask. Which is better as per your opinion Practice or Employment?
Both are good. The only advantage in practice is that you would be able to sign the statutory & tax audit reports. Moreover, in Practice, if one gets established, then there is no retirement age – and one is ones own boss. Infact in Practice one is basically opening an establishment (like the promoters in business) – whereas in employment one remains an employee under full control of the employer.
Usually those who have fancy for corporate lifestyle prefer employment. But basically CA course is meant for producing a Practitioner rather than an employee. To be an employee – even in the accounts / finance dept. one does not need to be a CA. http://indiapoint.net/ca/2009/04/21/cwa-a-better-career-option/
Could you please tell me in detail how many leaves are we entitled to during articleship. Apart from the two months leave during exams do we get any other leaves.
Please READ before asking questions. Make it a habit to read. http://indiapoint.net/ca/2008/10/31/articleship-certain-rules/#toc-2-leave
Sir
I recently cleared my CPT and will appear for ipcc in may 2011. I want to know whether i should give both the groups or only 1st group.
Another thing i want to ask is that do these big 4 take only those students for articleship who have given both the groups or they take those also who have given only 1st group
I’ll be really grateful to you if you can guide me on this.
Thanx
It depends on your abilities if you want to give one group or both. Going by the present trends, the Big4 prefer those who have cleared both groups.
(Go through previous comments – some of the students who are joining Big4 as articled trainees have also posted their questions)
Thank you sir
Sir as per your opinion which is better a ranker CA or an IIM A graduate? (In all terms and also as far as remuneration is considered)
Its like asking – which is better – an Architecture course or a Civil Engg Course.
Do remember, that core of CA is about Accountancy and Audit. Whereas core of MBA (Finance) is about Finance – primarily dealing with Financial Markets. The difference is not just apparent but real.
Consequently you would find that financial firms who recruit from IIM would prefer candidates with Engg background with specialisation in Finance. The reason simply is that it is the training in logic and analytical abilities that engineering students get ingrained by their training. Most of the MBA Finance candidates would be taken up by the Financial companies – the good ones for trading and modelling, the others for marketing of financial products. You would not find MBA Finance in Accounting roles (its very rare) or in audit or taxation.
In contrast CA is about accounting and control function, and audit and tax functions. The problem with CA historically has been that it has been considered a closed statutory function – so functional areas like Financial Market, consultancy services like M&A etc were ignored and advertising was a big no no. However, ICAI is catching up in this direction. Now a days, CAs are also being taken up by financial companies. Even in Banks, now a days one can find CAs taking up executive positions (which were traditionally occupied by MBAs) as CAs are better equipped in audit, compliance, law and due diligence.
If you look at the organisation of a consultancy firm – there are different divisions – the MCS (mngt consultancy services), direct & indirect taxation, internal audit & fraud detection, etc, the MBAs gets hired for the MCS – whereas for the CA the variety of choices is larger.
While MBA is a general degree, CA is a specialised degree. In the multivariate field of Finance, at present CA as a course provides the widest exposure. The area it is lacking is proper classroom teaching. Moreover articles are exposed to differeing experiences – which lead to a differentials even among them, compared to MBA which is structured with classroom and two months of practical exposure.
There cannot be a clear answer to which is better – a ranker CA or an IIM grad. However, I can say, that a ranker CA has a wider choice of career (tax, audit, accountancy, finance, etc), whereas, IIM Fin grad do not enjoy such choice.
As for trends of remuneration, if you leave the extremes like a handful of candidates who get tons of lakhs or crores, the average entry level salaries (still) for CAs is less than IIM grad. This is primarily because of brand, and you can always be sure that when it comes to marketing MBAs are far ahead than a CA would ever be!
Sir
I have given IPCC may 2010 n cleared both groups. Now my articleship is starting. Now is it compulsory to fill form 112 now?
Actually the problem is I am getting CBSE scholarship of Rs. 70,000/- in insatllments like 10,000 each yr for 3 years of Bachelor degree and after that Rs. 20,000 each year for 2 yrs of post graduation degree with a stipulation that I must join the course as a regular student. I am now in Bcom 2nd year as a regular student. Still we dont need to attend any class even a single day. But now in articleship form no 112 has to be signed by the principal of our college who refused to sign the form for college timings before 11 AM in the morning. Now if I go for private then I would loose Rs. 60,000 scholarship. Now what to do? Is there any way out? Anyhow if I manage to do 2nd year regular then from 3rd year I’ll join a college where the timings are according to ICAI rules.
Please suggest what to do?
Form 112 is compulsory – and there is no relaxation in that.
Also the timing of college should have a difference of at least an hour with that of the office timing. You cannot say that your college ends at 11 and you go to office at 11.
What I have seen in some cases, is that, as the Principals of colleges have discretionary powers to allow students for other activities – in case of articlesihp, they give relaxation in timing with riders that the student would have to attend extra classes for equal number of hours on holidays and leave period.
It does not matter whether you actually attend college or not – for ICAI its the paper that matters ! If you want relaxation – its only your college that can give you the relaxation as ICAI does not give any relaxation.
There is a way that is possible that if your city has any ‘regular’ morning or evening college. Then in such case your scholarship would also be retained and also the ICAI rule would also get fulfilled. Read point 10 of http://indiapoint.net/ca/2010/06/15/ca-articleship-latest-changes/
Sir that means college timings cannot be after 10 AM & before 6 PM
Also Sir Can a principal of the college allow n sign form no. 112 even if the timings of the college are beyond 11AM using his discretionary powers?
Means Is it ok if I manage to get into any college where the principal is ready to sign the form showing less time than the actual college hours?
I have seen Principal allowing for flexibility of timing using their discretionary powers. The point is if the Principal signs the form with a particular timing, its final.
As to time between college end and start of office one hour gap should be there, else ICAI does not accept the form – that again from what I have seen. (Unless I guess, you can provide documentary evidence that your college and office are in the same building !)
dear sir,
i cleared both groups of ipcc in may 2010. i am 2nd year bcom course.
i want to pursue cs with ca. i havn’t yet registered with icsi. i am planning to give cs foundation in june 2011.
is it that after tycom i can skip foundation and go for the executive level?
how about if want to pursue ca cs and later to mba finance part time.?
then which institutions give part time mba finance courses?
You can do only one additional course along with CA. That means if you are enrolled in CA and also doing BCom, you cannot take up CS
As for MBA with CA, ICAI have arrangement with Bharthiar Univ (BU), whereby students can enroll with BU along with CA course. And in that papers passed in CA exams are counted towards exemption of BU courses. So, the PE2/PCC/IPCC level pass would count toward exemption in UG courses BCom / BBA, and the pass in Final level courses would count towards exemption in MCom / MBA course of BU.
http://www.icai.org/post.html?post_id=3863
http://220.227.161.86/19936advertisement_for_BU-ICAI.pdf
ICAI has similar arrangement with IGNOU (though not for MBA, but for BCom & MCom)
http://220.227.161.86/7535announ1482.pdf
and also with Netaji Subhash Open Univ, Kolkata
http://220.227.161.86/7606icai_bdp.pdf
However while ICAI has kept itself updated for BU, the latter ones IGNOU and NSOU, their latest status regarding their arrangement with ICAI is not known.
thankyou sir for your guidance.