Pathways to Becoming a successful CA

Chartered Accountancy (CA) is a profession that can be achieved as a successful career only through purposeful self-development based on the principles practiced, hard work, and capitalizing on the natural abilities which are unique and significant. You cannot reach the pinnacle of CA profession until you strive to make your weaknesses irrelevant and start analyzing self-development right from CPT level by asking yourself: “What career/profession wants from me?”

Many even lack the clarity as to what path they are choosing.

Do you really analyze where your journey is taking the route?

Do you think what has actually begun, started the way you thought?

Do you see what is coming behind you rather always running with time ahead?

 

Here are a brief collection of most important points which everyone should read before taking Chartered Accountancy as a profession and then decide

Will you succeed? and Why you may fail?

1. Results exist only on the outside: The single most important thing to remember about CA results is that they exist only on the outside. Don't waste your time behind analyzing low pass-out ratios. The real results of CA professional students studying in CPT/PCC or Final are not passing examinations but more importantly building competent professionals for the industry. The result of a hospital is a healed patient. The result of a school is a student who has learned something and puts it to work ten years later. ICAI is a body set up only for improving these basic requirements that they look out in every CA student and hope that the student will develop with each stage of CA exams by providing him article ship training and a platform to work under such qualified professionals.

2. Two missing elements: Two of the missing elements in a CA (principal)-student relationship are first, that the student hasn’t been asked by his/her principal what exact practical training he needs to be able to do the job he has committed himself to, and second, the student hasn’t been asked what motivation he needs in order to know how well he’s doing it. These two missing elements are only seen in a mother-child relationship and unfortunately between very few principal (CA)-student relationship. Hence, students bitterly complain that they would like to manage themselves by objectives, but they can’t. They find every new rule introduced by ICAI a new addition to their sorrows. Most of the time the answers to both questions could be seen when a student sincerely yet strongly understands, that whatever his principal does is only for his/her good. The student should convince himself that he has to move on with this truth. Once the student gets what he has set for, the truth will become his power. I do agree there are such professionals who take undue advantage of the articles. But, if you won't cross the road and leave halfway then who will guide the one's who are going to follow behind you. Remember you only need to survive for that short article ship period (say 3 years) and after that golden 50 years are waiting to repay the pains with a successful life and importantly CA profession will get a perfect principal (guide) within you.

3. What is your Mission?: That purpose and mission are so rarely given adequate thought is perhaps the most important single cause of frustration and failure. Conversely, in outstanding cases, success always rests to a large extent on raising the question ‘What is my ultimate dream?’ clearly and deliberatively and on answering it thoughtfully and thoroughly. But there is also a need to ask ‘What should my dream be?’ What opportunities are opening up or can be created to fulfill the purpose and mission of the CA profession by making it into a difference.

Remember: Studying is required for doing the things right; Reality is to practice doing the right things.

4. Strategies for Tomorrow: Any student needs to think strategically about what the progress is taking shape. He needs to value what time he has put in and how much worth he has achieved it. Every student needs to think through what its strengths are. Are they the right    strengths for this specific profession? Are they deployed where they will produce results? And what specifically is the demand for this particular profession, both at the present time and in the years immediately ahead. Strengths are always specific, always unique. One gets paid only for strengths; one does not get paid for weaknesses.

- Pick the future as against the past.

- Focus on opportunity rather than on problems.

- Choose your own direction rather than climb on the bandwagon; and

- Aim high, aim for something that will make a difference, rather than for something that is ‘safe’ and easy to do

5. Lifelong Learning: The Chartered Accountancy student requires a learning atmosphere throughout the entire professional life. It needs to create and maintain continuous learning. No one is allowed to consider himself ‘finished’ at any time when you enter CA and especially when you become CA. Learning is a continuous process for all members of the CA profession. Nonperformers are often – and perhaps in most cases – not ‘duds’. They are only in the wrong place. They belong elsewhere, where what they can do is needed and contributes. It is therefore important for every student to decide where you are productive and effective, rather complain in future, “You were in the wrong profession"

Remember: Knowledge has to be improved, challenged, and increased constantly, or it vanishes

6. Four key points associated with Chartered Accountancy Article ship: During your article ship period a student must focus on these four points to make the most of your practical training.

Willingness to listen and communicate.

Make your SELF more effective especially over periods of change and type of work.

Learn how to prepare for a career as a solo act.

Use your wisdom effectively, a CA needs to look at the source and determine its reliability and validity. Just don't believe plainly.

7. READ DAILY: The first supporting element for becoming a sharp professional is based on extensive reading and polishing the areas of your curriculum. Every student needs to develop the habit of daily reading. Of course, the big problem for most of us is to find the time to read each day. It doesn’t have to be a very long time period. Two hours a day are sufficient, but with complete dedication and sincerity. For the final element, practice writing. Writing may be challenging to some at first but there is an old saying that until you write something down, you really don’t understand it, so this will improve your understanding of the subject matter as well.