28 December 2009
1. Please note that not a single entry should be missed to be entered into the books of account.
If you say I have completed 99% correct entries; still one entry may be of value for Rs.10 Lacs which you might miss if it has been transacted on last day and left to be written in books due to non-clearing in the bank statement in the month (Bank Reconciliation Item).
2. Even CAs are "struggling" to understand the accounting treatment of some typical transactions. So you have to work hard and have speed in preparation of books. Because still many organisations don't keep books of account regular although business runs into certain crores of rupees. It happens only in unorganized sector.
3. Know more about accounting standards and their application.
4. If you regularly update your knowledge about Accountancy by referring CA Journal; you can easily earn Rs.25,000/- per month by running your own accountancy.
5. Improve your vision.
6. Don't think about to be an accountant. Think to be a Chartered Accountant !