CA Abhinav Jain (CHARTERED ACCOUNTANT) (63 Points)
10 February 2012Hi CA friends
I have cleared both grps ca final in nov 2011. Now I want to Do practice in my home town.
Please advice me how to start.........................
I want some motivating answers specially from CAss in practice.
I have cleared in May 2011 and started practise since September, 2011. If you wish to go in practice, keep following things in mind:
1. U have to keep a strong patience, because it is not easy to get clients of your choice. You have to be ready to run practise on break even for the first year. Remember expect the best and prepare for the worst.
2. If you have any friend who is CA and ready to do partnership with you, then its better.
3. Arrange an opening ceremony of your office and invite all those you know. So that you can get better response.
4. Spend enough on infrastructure in office, but not excess.
5. Keep enough working capital with you because in the beginning, you have to work for clients and since you need to develop relations, you cannot demand fees immediately.
6. Obtain information about the market rates of fees for various services. So that you can compete in market better. Co not charge high or low fees except in some special cases.
7. Keep area of your practise limited. For example, I practise in DT and Finance. You cannot say that you are doing all kind of work, because a CA in practise can do innumerable type of works and if you do all, then you will not be able to handle all alone and you cannot achieve specialization in any one field.
8. But various books for professionals and make a habit of regular reading. Our study time has ended, but that does not mean that we stop reading. Read as much as you can.
9. Buy the best softwares after obtaining details of softwares from the market or friends or internet.
10. And lastly, remember that generally every CA expects income of about 3-6 lacs p.a. If you can earn the same in the first year of practise, its better. But if you achieve break even in the first year, then also you are the best, because your decision of going in practise is long term decision and its better than those CA freshers who spend months in searching jobs in internet and campus and nowadays, I have seen some of the CAs complaining that they are not getting jobs.
Abhishek Jain
(CA)
(32 Points)
Replied 10 February 2012
Dude..i agree wid u..bt if in the beginning a prac CA keeps his wrk limited according 2 d his specialisation..den wont it b diff 4 him 2 earn 3-6 lakh p.a. as u stated in d initial yrz...
| Originally posted by : Abhishek Jain | ||
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Dude..i agree wid u..bt if in the beginning a prac CA keeps his wrk limited according 2 d his specialisation..den wont it b diff 4 him 2 earn 3-6 lakh p.a. as u stated in d initial yrz... |
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If a single fresher CA is starting a new practise, then the area of practise should be kept limited because no one can say that I can do every kind of work. In articleship, they do not train us in all the field like DT, IDT, ST, Finance, Banking etc. So there are more chances of mistakes in work that one fresher CA does. However, if 2 or more CAs are together, then it is better to do all kind of work. Without experience, we cannot handle every kind of work just because we have a degree.
Suguna
(VP)
(98 Points)
Replied 14 February 2012
mr kishore i have been following your posts where you encourage freshly qualified cas to take up practice when they are not able to find jobs. since you have said that you are into practice since sept 2011, how do you feel the going is?. how will it be for ladies to practice. i am aso interested in practice.
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