Articleship & C.A. Final

[lovina mathias]

Hi Friends.

I have cleared P.E. II exam in Nov. 2005. I had passed group 1 in Nov 2004 & group 2 in Nov. 2005 & have secured 53%. I have now decided to continue with C.A. studies. I know my marks is not good. But I have scored good marks in SSC, HSC, T.Y.B.Com, M.Com I. Can I perform better in C.A. Final & score possibly a merit rank? How to plan C.A Final studies?

 

I had enquired for vacancy over the phone in some well known firms in mumbai including the Big 4. But they donot have it at the moment. Should I go to their head office personally & enquire or is correspondance through phone or email sufficient. Please give me the names of good firms in mumbai having company level work.  If have to go personally what are the documents I will have to take including the forms of the the institute.

 

I don't know whether the big firms will appoint me as my percentage is less. Also reference to these firms were provided by the classes where I had done  P.E. II.  Other than that I have no other reference. What should I do if I donot get admission in Big firms. Are there any percentage barriers?

 

There are so many C.A. firms & it becomes very difficult to choose one. What should I look for in a firm before joining it. Is it polite to ask the stipend offered by them straightaway? What are the various specialisation offered & which has better prospects?

 

If I have to do articleship from a small firm in mumbai please suggest me the names of some good firms from Mulund to Dadar. Also if you know some good firms in Fort please inform me regarding the same.

 

Will doing articleship from a small firm affect my future prospects?

 

I want to go for employment after clearing  C.A. Considering this which firms will be good. Also I donot want to go for Outstation audits.

 

Also how should I manage both C.A Final studies & Articleship. Should I join coaching classes. Which books to refer for various subjects? How many hours sutdy is required? How to prepare for case laws as I have heard there are many case laws in C.A. Final? Which are the good classes in mumbai for C.A. Final?

 

Also I have not been in touch with the C.A course for about 7-8 months  I guess I have forgotten things studied in P.E. II. Also I didn't study audit subject seriously. Will this affect my performance as an articled clerk?

 

Please reply at the earliest as I want to join Articleship by the end of Oct. 2006. You can email me at mat_a...@yahoo.co.in Also please tell me how to become a member of this group.

 

Thanking You in advance.

---

Find out what India is talking about on - Yahoo! Answers India
Send FREE SMS to your friend's mobile from Yahoo! Messenger Version 8. Get it NOW

[Bhanu Parashar]

Nice to hear someone after a long time. now get along with the questions one by one.

Firstly-Question of Big 4's is a little cliched, the reason being, big 4's are mainly run by people who come from small cities and small firms, reason being they have what is needed to grow, so simply dont run after the big firms. Big firms have big work, which has everything tailor made, you intelligence takes a back seat if you walk thru them initially at articleship stage. In small firms, you will have to manage things on your own, handle clients on your own, and thats where the beauty of profession lies. Once you learn the basics you can walk thru them firms later. and secondly, since you dont want to go outstation for audits, only a small firm will oblige you for this. ARTICLESHIP FROM A SMALLER FIRM WILL NOT AFFECT YOUR CAREER IN ANYWAY IF YOU KNOW YOUR BASICS RIGHT, AND THAT COMES FROM THE RIGHT ATTITUDE.

Secondly, dont worry about the marks, ranks have nothing to do with talent and intelligence, if oyu get one, good, if you dont, dont be disheartened, Kumarmanglam Birla was'nt a ranker, and neither was Shekhar kapoor, and nor am i, or most of us in this group, except the priviledged 50, none of us:) so chill...you still remain in the majority.

Now comes something about auditing, auditing is all about common sense, and knowing the information system of the client, how vouchers are prepared and posted, how bills are passed, what hierarchy is followed, the client's policy and its  conformation with the various laws/rules/regulation and knowledge of standards issued by Insti, and am sure with a little practical exposure you will get back on the track. so dont worry about that part of profession. this happens even to the qualified chartered's and that's the reason insti has devised called CPE hours.

if there is something i have left out, i am sure friends on this grooup would be pleased to answer them.

 

-----------
CA. Bhanu Parashar

[Mohit Kapoor]

think percentage in PE2 is no big deal......its not the percentage that can get you in Big 4, u need to have good communication skills and sound technical knowledge.......at the stage of articleship it means sound theoritical knowledge......

there are advantages of working in small firms as well as big firms.....in big firms you get big clients.....get to see the application of most of the theoretical concepts you study and obviously better reputation in the job market.......here you will specialize in a particular field

in small firms you handle different clients at a time and do all sorts of work for them.......you get better recognition for ur work.....and the work load will be much less........not much of outstation audits..........

in a way jack of all trade but master of none..........it depends on you how you want to work.....

a similar comparison ....IITs and IIITs.....
what i would suggest is wherever you go try to enhance your knowledge quotient as much as possible....it will pay at a later stage......

further.....its better you dont ask about the stipend.....you are paid stipend to meet ur cost of education only.........its not a compensation for the work performed.......
another thing......you should not ask so many questions at once.........

[Anne]

Thank you friends for spending time replying my query. Some of my
doubts of the previous query are not clarified which I would like to
put forward.

1. Should I go to the H.O. of the firms for ennquiring articleship
vacancy or will correspondance over the phone or via email is
sufficient & the documents to taken including forms of ICAI.

2. Please give me the names of some good SMALL FIRMS in MUMBAI (maybe
having Company level work)

3. What should I look for in a firm before joining it?

4. Which subjects of PE 2 have relevance for articleship?

5. Which books(i.e. authors) to refer for the subjects of C.A.
Final(both theory & practical).Which are the good coaching classes in
mumbai for final?

6. How to study the various case laws in c.a. final as I have heard
there are many? Is any specific knowledge of P.E. 2 required for
subjects of C.A. Final?

I know friends I have asked too many queries. But I wanted to be aware
of everything possible before joining. Hope u all won't mind it too
much.

Thanking u all in advance

[~BhanuCA~]

"Too much analysis results into paralysis", i suggest dont think too much, simple evaluation of things is fine. For final, i would'nt suggest too many books, infact if your modules are properly done, its more than enough along with suggested and scanner. though if you really want to refer to books, for financial management i would suggest IM Pandey and for Corporate Law, Munish Bhandari and bare act. for Direct taxes you may refer to either Girish Ahuja or Singhania and for indirect taxes refer to datey and if you can get Ajay Jain notes back there in Mumbai great or else simply updated module.

Before joining a firm, its always recommended to talk to senior articles and Chartered and find out the kind of work the firm is involved. Documents which are needed are the statutory forms of insti and your 12th std marksheet along with 10th std marhsheet for DOB varification and a Rs. 10 stamp paper.

i am sorry i have no fair idea of coachings in Mumbai, i can suggest you in delhi but for mumbai am sure other members of the group would be of much help.

as for vacancies in the big 4's, they are region specific, enquire from the office of big4's HO's generally have no say in this(correct me if i am wrong).

Your PE2 marks or performance will have no relevance in articleship, coz there you are to learn, not to flaunt your marks, how you perform there would have a bearing on you rather than how you perform in the exams.

thats it from me...hope this has solved most of your queries...

keep writing

Bhanu

[Anne]

Thanks Bhanu for replying to my query as well pointing the error in it.
The question should have been as follows:
Should I enquire about articleship vacancy by personally going to the
firm & meeting its H.R. if possible or will correspondance over the
phone or by email be sufficient? Is any kind of reference or influence
required for big firms?

How does one know whether a firm is small or medium?

Also I would be grateful if somebody from MUMBAI suggest me the names
of good small or medium firms over here.

Thanking u all in advance.