The main problem(my opinion only) is that accounting professionals are passing out in huge numbers from top institutes like CA, ICWAI, CS, and other College programmes like MBA Fin, M.Com, B.Com every year. There is an influx of the accounting personnels in the economy which has created an excess supply than what is required as per the demands of the industry. The business industry hence has numerous options for choosing from these candidates. Mainly in a business concern the functions of the accounting involves activities such as book-keeping, data entry, taxation-vat,service tax, excise, customs, income tax matters like tds, filing of returns etc etc. A person with accounting knowledge and experience can do these activities without a minimum fuss. He needs some some experience and knowledge. I have come across many such people who have just got degrees or post graduates are working quite capably in these areas. Now the business organization wants to have a strong back-bone by having a complete and full proof accounting system running properly day in and day out. For them cost and profit is also a priority. And hence they will get the people they require to run these operations efficiently at a price at which they(organization) are able to earn more and yet get the routinized things done efficiently.
The real issue is that the industry is not growing at the same rate at which professionals are coming out. In an open economy there can be no restrictions put on any institute to limit the pass% of ca's or icwa's or cs's , since every body who is deserving has the right to pass out. Now the expectations of a newly passed out CA is very high. But are they giving back to the industry something more that what other accounting personnels doing routine jobs are giving? Hence it is for these professionals ... to show their real worth by giving that extra to the organization. Industry requires such professionals for giving them the cutting edge in strategic management of the organization and to increase their operational efficiency. Only then the economy will grow and there will be more opportunities. So I am of the personal opinion that if you are not getting a highly paid job, just go for the available job according to what is best available and show your worth to the organization. When you become the need of the organization. there will be no one to stop you from getting the remuneration you were dreaming. In the present scenario just having qualification like CA, CWA will not do any good... you have to show your real worth in the organization by contribution to its success. If that is done.. the benefit will be for our professional growth and also the economical growth.(though still many of the ca's are getting 5 to 6 lakhs- this trend will reverse if the professional do not make smart contribution to fight the present recessionary tide).
I don't know how you've intrepreted my comment.
CAclubindia
