ITS NICE

Professionals are required to be 100% CORRECT in their work that's why they are called PROFESSIONALS

Originally posted by : CA SURENDRA KUMAR RAKHECHA
	Originally posted by : sivaram There is a humour which  I will share If a Doctor Gives a Treatment for Right leg instead of left leg he is out If an Engineer Raises  Wall in the South instead of North he is out But Accountants have privilege even if he passes Wrong entry there is achance for him to rectify the entry Hope You would have enjoyed Not only humour but inspiring as well.    And this  is the reason CA students try hard to correct their mistakes  ( without knowing which are the mistakes )   to qualify.   But ultimately they correct and people see how they got success !

its true

very true sir....

Nice posting

Originally posted by : Mayur Arora
	Professionals are required to be 100% CORRECT in their work that's why they are called PROFESSIONALS

but i think its not possible everytime

YES, EVEN I THINK THAT ACCOUNTANTS NEED TO BE EXTREMELY  PRECISE IN THEIR WORK.

Originally posted by : Surendra Kumar
	Sir, may i know what would be the treatment to give marks of the answer having one wrong entry out of 15 entries.????? sir reply plz...

In CA, marks are predetermined according to the steps covered by the students. So don't worry about correct answer only. Whenever you read practical subjects and solve sums; try to understand the steps. Not only you will find it easy to solve more sums but your speed will also increase to a great extent. 

I Disagree Sir.

There is reasonable difference btwn an Examination Mistake and an Professional Mistake............. Merely 2-3 ppl in  history of CA Course wd have got 100 in Accounts. DT, IDT .........This doesnt mean dat others are nt good in there respective fields.....

In an exam a student hav no sources of Discussion, Research or Conclusive Evidence over an topic while an professional do have.......

Thanks........ 

Originally posted by : NAMAN
	I Disagree Sir. There is reasonable difference btwn an Examination Mistake and an Professional Mistake............. Merely 2-3 ppl in  history of CA Course wd have got 100 in Accounts. DT, IDT .........This doesnt mean that others are not good in there respective fields..... In an exam a student hav no sources of Discussion, Research or Conclusive Evidence over an topic while an professional do have.......   Thanks........

First of all I appreciate your critical comment. 

CA course seeks  to develop concepts and inherent knowledge about the subjects. Only completion of syllabus will not guarantee the success. This is one of point which makes it unique. You may have noticed that an average student passes CA earlier than an established brilliant student (brilliant here means - according to past marks scored). 

Please read carefully again what I have written above.

Many CA students could not understand what are concepts. They adopt  Trial and Error Method to pass CA. They try more and make more errors than before.  This takes 3-4 years. By that time there may be tremendous development in accounting field due to certain changes in business pattern.  For example; recent introduction of IFRS.

The same problem is faced by some qualified CAs who don't update themselves regularly. 4 years ago; one Mr. Sipani (I don't wish to disclose his name fully) met me who wished to start his practice in Surat because he told that Kolkatta is not good for practice. His age was 46 then. I asked him - It means all the practising CA firms at Kolkatta are deciding to switch to another cities (or you are the best decision maker among them) ? He could not face the question. The matter was discussed and ultimately he went back to Kolkatta. 

Either make someone Guru and be humble to your boss. Specially in middle and small practising CA firms; most of CA students don't have courtesy towards his boss (fear is another thing). A practising CA has to perform his duties in very tough circumstances and tight schedules. He has to discuss with the clients to guide them and has to make proper liaison with outside departments also. If you can snatch his 10 minutes in a day by whatever means; it would guide you a lot. For that you should show your eagerness at the time of training i.e. performing your duties. Unfortunately  most of them treat the training  as slavery. 

Now I ask  ( reply honestly to yourself ) -

1. Have you yourself tried to analyze the balance sheets which came from the clients and thenafter finalized by your boss  ? Could you point out what are the differences between the two balance sheets - one shown by the client and second finalized by the boss ?

2. Have you carefully seen who are the major clients of your CA firm and tried to see which types of dicussions are required to solve their  problems ?

3. Have you carefully seen which types of books are there in the office of CA which you see not relevant for your studies ?

4. Have you carefully read an Annual Report of a company and noted down which sections are practically important to write there. 

and add some more questions yourself ...................

5. You should be crazy  to refer as many professional journals, business magazines and other relevant materials. 

6. Have you visited to a bookseller to know which new books relevant to profession have been launched recently ? 

Originally posted by : SHWETA GERA
	Nice posting Originally posted by : Mayur Arora Professionals are required to be 100% CORRECT in their work that's why they are called PROFESSIONALS but i think its not possible everytime

First of all; I appreciate your participation and comment.

The purpose of the post is to upgrade the performance of students with a new look.

Everytime, 100% would not be possible, I agree. OK ?

But shouldn't we try to achive 100% ? 

Can you imagine what would happen if you scores 100% (even 90%) in a subject of CA ?

(You would have a very unique career in your hands).

Originally posted by : sucheta
	very true sir, we students appreciate this thread but plz sir do guide us on our mistakes  so that we can give our 100% in exams and as well as can improve our knowledge as regards accountancy

Many many thanks for this raising this question. This much eagerness is required from all CA students. At least one cute girl has asked this question.

Let me discuss something why I raised the issue. Some students might have thought that I have put an attractive heading to persuade more students to refer this thread. This I conclude : Because out of 2000 plus stroke on the thread; very few have commented on the issue.  For rest of them; it was just reading a quote. 

Please refer the following : 

1.  Recent results show that 80% Students couldn't score 50 in CA Final.

What should we conclude ? Paper was tough or performance was poor ? Should we happy to score high when paper is so simple ? 

2. All the financial information comes in the grip of Accountancy. 

      Suppose a land has been acquired by the company at Singur.

      What an Accountant should do ?

      Pass a journal entry towards it and take that his job is over ?

      If yes, really he is an Accountant, but not a Chartered Accountant. 

      Suppose now a CA finalizes a balance sheet which is required to show as under : 

       Authorized Capital                                        500 Cr.  

       Issued, Subscribed & Paid Up Capital            30 Cr.

       What would you conclude when this is being shown since last 5 years ?

( Certainly the Management People are not in a position to perform what they thought at the beginning of the business).  

This type of analysis can never be expected from a person other than a chartered accountant !     

Now I come to the basic question raised : 

1. Try to understand theory part and its practical application on the examples given in the book. 

2. Put some imaginary simple figures while reading theory part and try to solve. If not understood well; take help of examples. 

     Further; refer at least 10 published Annual Report of Listed Companies to have a full grip on practical application of accounting standards.       

Very Very Very True Sir.........