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CA Articleship Why, how and What?

CA Articleship Why, how and What?                         

CA articleship is full of agony and excitement both at the same time. It starts with searching a firm, to doing the on ground work till becoming a CA. CA never forgets his articleship tenure all throughout his life, be it good or “not so good” experience, because it will portrait ‘where you started from’ and ‘what you will be at the end of your articleship period.’

I have been doing my articleship for almost 2 years now in a CA firm at Vidyavihar near Ghatkopar' Mumbai. This firm also has a branch in Roha – Dist. Raigad.  It was a very roller coaster decision for me to start with scratch as to Why, how and what is Articleship?

 

Hence, I thought of sharing my thoughts  on top 7 challenges on selection and  execution of CA articleship with the  “would be” articles and of course in a  matter of time CA’s.....

This I felt would be an apt time for this article. Candidates out there would have just finished with their IPCC exams and would be facing these questions day in and day out. Check your eligibility on the ICAI website.

What all things a Chartered Accountant Student should take into consideration while searching for a Articleship in CA firm:

Any Student will search for an Articleship firm which will help in giving Technical knowledge and Practical exposure for which he/she has to consider following points:

Ø  IDENTIFY YOUR INTEREST

Interest of an individual is of utmost importance while deciding / selecting the field to be pursued in articleship.  Below are the tips to identify it deeply...

• ·         What subject you like the most in studies
• ·         You should identify your strengths and weaknesses i.e you should do a SWOT Analysis
• ·         What are the future prospects of this area of interest

Research about the practical application of the subject since the theory studied might have been totally different..... Ask your friends and colleagues of their practical experiences.

Ø  LOCATION

First priority of a student should be a Firm which is nearby to his residence and which can suffice his expectations in relation to career aspects. In my case, I am lucky enough to get the firm near my residence i.e., Ghatkopar. If the student does not mind traveling, the location should be such that it should be feasible to attend college, classes & office and manage them effectively. Please understand that learning in CA Articleship includes learning to travel in all sorts of difficulties :-)

Ø  FIRM'S PRACTICE AREAS AND CLARITY OF EXPOSURE

One should have a complete knowledge about the prospective firm & get a clarity of exposure to be attained during the Articleship period. Please don't miss out on looking at Firm's Website, Partners, Past and Present Employees, Past or Present Article clerks etc. Most CA firms in Mumbai would definitely have their websites. before going for an interview. Be careful, “what's in the showcase may not be in the store house many a times....” 

Ø  BRAND IMAGE

Brand image becomes important as that is the tag which adds value to your CV and earns you an immediate placement after becoming a Chartered Accountant. “Only this is”... This should not come at cost of your wide exposure.

Ø  CLIENTELE

If possible, get an idea from external sources as to what type of industry the firm is catering to. Seeing more and varied types of clients at your level is must. Make sure that you deep dive in their businesses models given an opportunity.

"Remember that a book should not be judged just by its cover......"

For eg : Listed Companies, Manufacturing clients, Banks, Corporates, Clients having ERP packages, etc.

Ø  HOW SHOULD YOU LOOK AT YOUR ARTICLESHIP PERIOD :

The articleship tenure has to be managed effectively amongst :

1 ) GMCS :

Believe me this is very crucial and only on campus training module available in the CA course. ICAI has been generous to offer this twice now. Doing this is in right spirit really helps.

• ·         GMCS - I which is to be done in 1st year of articleship.
• ·         Do not opt for GMCS Course during the peak season or when the work gets affected.
• ·         It should be a win-win situation for both i.e article as well as the firm.

2 ) College exams :

These remain just formality once you have joined CA course in my view. You are going to learn much more in CA than your syllabus at your graduation level. Don't be unnecessarily fussy about scoring everywhere at cost of losing your focus from CA.

• ·         For SYBCOM exams, take leave for only exam days or a few prior days are enough.
• ·         For TYBCOM exam, a probable 10-15 day leave (including exam days) might be enough for preparation.
• ·         Do not waste more on College exams, utilize the leave for CA Final exam.

3) Advanced ITT :

Important item again. Only issue with this is the training modules which are designed keeping in mind all India standards. You may have done certain things much before they are taught here. So... Try to extract more from the tutors... “If they are really good enough!!” :-(

• ·         It has to be done before CA final exam, which leaves you no choice but to do in your articleship period.
• ·         Appropriate period : In the months of June/July or October/November
• ·         Timings should be planned well in advance.

THE WHOLE THING REVOLVES AROUND "PRIORITY". MANAGE YOUR ARTICLESHIP TIME ON BASIS OF PRIORITY IN TERMS OF WORK, COURSES AND STUDIES.

Ø  SKILLSET TO BE ACHIEVED :

1) Learning:

• ·         Every small work is important and has to be given the equal amount of preference.
• ·         Be passionate about what you do.
• ·         Learn from everyone.
• ·         Ask questions, do not blindly follow what is told to you.
• ·         Share your learnings with others, it will enhance your knowledge.

2) Skills to be acquired:

• ·         Responsibility
• ·         Management of time.
• ·         Management of Resources
• ·         Management of People
• ·         Take leadership
• ·         Be updated about the things happening around you.
• ·         Communication skills have to be improved by effective and frequent communication with others.

3) Team Spirit:

• ·         Working in a team is more important than working individually
                                  "WORK WITH PEOPLE AND NOT AMONGST PEOPLE."
• ·         Work independently in a Team, but keeping in mind the subsequent co-ordination, achieving team's goal and ultimately the objectives of the firm.
• ·         Improve your area of Influence by working independently, BUT within a given framework.
• ·         Do not just focus on getting the work done or just what the boss says. Be independent.

4) Experiment:

• ·         You are in the learning phase, so experiment as much as you can.
• ·         Take people along with you in the experiment process. This results in growth.
• ·         Being stubborn and rigid to change leads to stagnation.

5) Other Activities:

• ·         Attend seminars and workshops.
• ·         Attend study sessions.
• ·         Prepare presentation and deliver speeches whenever there is an opportunity.
• ·         This will build confidence in you.

 

Stephen Covey says “Start with keeping end in your mind”.

Ultimately you are going to be a Chartered Accountant (CA) who is expected to know everything all the time. People may ask you tax questions even in a Public Toilet or a swimming pool and expect accurate answers. You will be considered as a “Trusted source” for things you have never thought of you will be :-) That's not all…. Employers / clients will also expect best available stuff from your table all the time “right in time”, no matter what price they have to pay you. This is the “RUNWAY” of your career's airplane. Keep optimum speed to take off!!

You may apply with our firm online.

v         BEST OF LUCK..!!! Write us back to arpit@apdoshi.com for more questions or drop a comment in the blog.

- ARPIT BURICHA

 - PANKIT SATRA