Monthly Budget Sheet Plan And Organise Your Monthly Finances And Budget: Fill & Download for Free

It's a comprehensive answer of many questions asked to me in last two years - as I am in mood to write today and lazy to Write a separate post ( includes lot of Gyan), and imandari se jitna kiya utna hi claim kiya hai .My Background - prepared for UPSC 2 1/2 year - couldn't clear mains both times- went for alternative - Nabard (Failed in stage 1 itself ( one more exam I failed but I don't remember now- shocking for me - complacent--- Rest cleared) RBI, EPFO, CAT ,SSC .There was a time when I was giving exams atleast once in two weeks including RBI ( one week before RBI Mains I had a SSC)- Finally chosen RBI over SSC, CAT ( means new IIM's - apart from top 6), EPFO.Because of reputation (EPFO), higher ranking officer Post (SSC )- had a interest in public policy , Fees (in RBI they will train you for free for 12 weeks and plus additional training as well) , 4 years break between last job (Honda) would have made it difficult to get good placement as I would have been fresher ( only 11 months prior experience but having gap of Experience persons that too 5yr (CAT).Also I thought I would go for 1yr MBA at a later stage if I want to go for it then I would have experience of working in two reputed organization and proper experience.MBA VS RBI JOBI think there is simply no comparison both are different - it's on you what you want - Money , & Quick promotion (What kind of lifestyle you want ) drives you then go for MBA from decent top 20 college (vs stability) - You can still be linked to public policy by getting job in consultancy firm in their Govt policy department.However it's also about which kind of organisation ( RBI really encourages life long learning ) you want to be part of .What you will get :-1)You will get respect from everyone2) Your middle class dreams would be fulfilled ( car, house and decent vacations)3) Your further education dreams (CFA,FRM, scholarship to chosen few to study abroad) would be supported4) You will get diverse exposure atleast in Regional office5) Ability to generate your own work(best work of it's kind)What You needed to prepare forPosting anywhere and any departmentCould be work dissatisfaction , bored, as wellStagnation in promotionYour experience in RBI would be unique( only central bank) so other job options would be limited .It also depends on which department you are posted (payment , Supervisory department may get somewhat limited opportunity to shift) .Some mythsWork life balance - it depends on how much responsibility you want to take However it's definitely not a 10 to 5 job as aspirant have often Asked me .Your posting would be as per your qualifications- We have CA's working in vault- So it could be in any departmentYour rank has bearing on your place of posting and Department - Definitely this is not the case - I got 13th rank but had no say in anythingIt's difficult to clear for Non- Engineer - this is not the case - it's just that from school onwards sincere student opt for science thus engineers have a high selections ------ If u see top school in respective spheres you will find non engineering colleges have Almost same selection ratio as of Top engineering colleges (this data can be analysed from UPSC annual report- during our time this data used to be there) ———— Just be a sincere aspirant don't worry Abt being a non engineer ( BTW - I am Hybrid:- B. Tech and M.A in political science (nothing great -Ignou only) ) ** and now studying Finance and banking ::)) all three streams .COACHING VS SELF STUDY1)My answer would be somewhere between extreme ends . It depends on person to person - coaching helps in discipline and structured way of studying. Personally I always prefer self study along with test series - I love to have my own strategy , For RBI I didn't go for Coaching.However I might have went for mock interview (I don't remember) Ultimately choice is yours if u can be discipline and systematic then no need to go for coaching (study plans are available on quora,Mrunal)Now most awaited part - How to prepareStep 1:- PreCurrent Affair :- I used testbook app and bookmarked banking based question (focussed on 4 months prior to exams ) as Exam is filled with them( atleast in 2017 - it was)For Quant ,LR ,DI - used arihant though not much( Targeted to clear section cut off easily) - I focussed more on GK as it is least time consuming - Last 30 days I used to give a Full test every second day and used to analyzed it to perfect my strategy as per my strength ( I am engineer Still my Quant was weak- so I focussed on clearing the Cut off and score well in other areas ( Got 60/80 in GK)Last two days revised GK - those bookmarked questions speciallyPS:- Some of my hotshot friend who have cleared many pre stages of other exams failed to cleared RBI because they have taken it lightly (in my case I took nabard lightly - it was eye opener for me helped me clear RBI in my first attempt)I took Almost 15 mocks tests and analyse them (used test book online test , Heard about olive board & prepathon equally good) - was key to cross this hurdle for me- In 2017 - 1.5 Lh filled the form , 1 Lh wrote and 3000 approx clear stage 1 ( as per RTI) .Step 2: Mains :—( one week complete I devoted for this exam - 12hr/day)1) Start finance first it is conceptual - two months before mains exam ( 2 hrs/day) - You could use iibf's e learning for dbf courses - investopedia topic wise - Ratio - Jaiib PDF could be useful in some cases- I have some PDF for thisThough personally I haven't used it - just Used Mrunal and Ramesh for basics economics concept .2) Management - I studied 4 days before exam - and found it sufficient- just revised it twice - Go topic wise - I had a small PDF - IF any body what it along with other Docs- please in comments -type your email ID - I will send to those ID's - I am not saying they r enough (just to be clear) it could be minimum though--I did PDF + topic wise google and made 2 page notes for revising on penultimate day3) Socio and economic issue- my sources - did 12 days before Mains - I had a upsc background- however I felt it was not much of a help other then letting me understand the right source to study - questions were quite factual mostly - schemes , budgetsa)budgetb)vision ias summary of economic surveyc)govt scheme's of vision ias only3) Essay and English -a) Didn't prepare anything for Englishb) Essay - I used to spent 20 minutes - in framework setting of essay - was lazy to write full essays - used lot of connectors -moreover type- remembered some good points from newspaper articles- facts as well not on purposeRest it depends on your own skill level, you need to prepare accordingly. Prepare on topics which are current and lot of lead articles are coming on it (Read them throughly- I preferred Hindu , I.E and Business standard)There would Be options - one would be on economics as well as on Democracy/ Social issue for sureOut of 3000 - approx 900 were called for interviewStep 3:- INTERVIEW:- Panel would have 5 members chaired by I.A.SThey would be cooperative and cordial in generalFive areas I reckoned are important -a)Your profile -education - why RBI, b)Economic survey and Current economic and social issue (I was asked abt twin balance sheet problem (not able to answered )and Parliamentary vs presidential system ( nailed it !!!!!- read some articles abt it few days before - answered it comprehensively)c) Habits /Hobbies - I made a point to show them I focussed on improving myself - by ex:- Increased my trekking altitude from 12000 ft to 18000 ft - from easy to Difficult - by working on my fitness - provided similar examples of improvement in other spheres of life as well d) Abt RBI functioning - I read D Subbarao - book who moved my interest rate - quite handy for interview.Also Kaushik Basu book - An economist in real world - They expect you to go through RBI Website as well as governor's latest speechese) Economics concept - terminology - Banking industry - issues - Rural finance - financial inclusion- I was asked abt Agriculture credit and RRB.Moreover, quite a lot depends how seed the next question - Your answer would leads to next questionI did told them Abt my UPSC background - they seemed non chalant Abt it as if they were expecting it - I scored 36/50 - avg or just above average marks as far as I rememberTo conclude , Exam itself is not tough It is the competition which makes it . (In our batch 50% people had a UPSC background and rest have banking background- Only 30–35 / 160 were out of premier colleges , same ratio as in UPSC)Everything stated above is from my experience , other people experience and interpretation of facts .You seek other perspective too. One more thing , prepare with mindset that whatever I have done in my preparation is minimum, not make it as only Target .Our Aim is to give our best - My preparation was as per my strengths and Time Constraints so aim higher for better probability of selection . I found level 1 as toughest stage to clear in all exams I have given apart from UPSC.Many people who are working , this strategy will suit them (though taking two week leave before exam would be desirable and enough) . I know people who are not working they have to prepare multiple exam simultaneously as each exam differs from each other's ( 60–70%), if you go deep into granularity of demands of each exam. So it is not easy for them too. If you have time go for multiple revision from a single source only (after preparing topic wise comprehensively once) instead of multiple source and practice Quant and LR more.I am continuously updating this answer as per new queries raised to me. BEST OF LUCK

In the three of prestigious courses(CA, CWA, CS) the statutory powers enjoyed by a CA is much wider in scope than those of a CWA or CS.The WorksChartered accountants are sought-after professionals in specialised areas of accounting, auditing, corporate finance, corporate law and taxation. A CA also acts as a business advisor by preparing financial reports, helping the business to secure loans, preparing financial projections and determining business viability. As a tax advisor, a CA helps businesses and individuals to comply with tax laws.As a CWA, you will maintain and scrutinise statutory books of accounts, prepare cash budgets, cash flow statements, do cost management planning and determine costing policy for companies, besides advising on investment and profit-planning. Good computing skills is a must for rendering services efficiently. ICWAI has more than 1,65,000 students and more than 40,000 qualified members who currently hold positions such as financial and business analysts, financial directors and consultants across sectors.A CS is a vital link between the board of directors, shareholders and government and other agencies, with expertise in legal matters, securities law, capital market and corporate governance. They are responsible for all regulatory compliances of a company. All three professionals can choose to work for an organisation or practise independently.The ProspectsThe business of accounting, which remained cast in the traditional mould for decades, is witnessing a change in role responsibility quite rapidly. The traditional audit and tax functions are being widened, incorporating new services like business management consulting. The opportunities lie across sectors, as the finance department is the backbone of any organisation. A CA at the entry level can earn anywhere between Rs 30,000-35,000 a month. "There is a sustained demand for qualified, trained and experienced cost accountants in the fields of accounting and management functions," says Kunal Banerjee, President, ICWAI. A CS can begin his/ her career with a monthly remuneration starting from Rs 20,000 upwards.Job prospects overseas are increasingly opening up.Restricted MembershipHard work, dedication, speed, constant practice, robust communication skills and computer competency are some of the ingredients that help in clearing the tough examinations these courses entail. Many CA students pass the intermediate examination and complete articleship training, but do not become a member, i.e a qualified CA, because they fail the final examination. To help recognise the hard work put in by students who fail to clear only the final hurdle, ICAI has started awarding them an Accounting Technician Certificate (ATC)A similar course, Certificate in Accounting Technician (CAT), has been launched by ICWAI. The objective of ICWAI, however, was predominantly to address the shortfall of junior-level accountants. With increasing business activity, sectors like retail, BPO/ KPO and small and medium-sized enterprises need accountants to keep their day-to-day accounts. There is a huge dearth of junior-level accountants, maintains Banerjee. "The demand in that space is expected to be one million in another five years," he says. Small businesses are reluctant to employ even a fresh CA, whose minimum salary is upwards of 30,000 a month. "In fact, they don't even need a qualified, specialised cost accountant," says Banerjee. ICWAI started CAT in order to meet the demand in this segment. The year-long course, divided into foundation and competency levels, comprises examinations that include 60-hours of computer training, 6 months of practical training and 15 days of orientation training. "The beauty of CAT is it marries beautifully with the main professional course," says Banerjee.This, that or the other?You may chose to do one, or get qualified in all three courses, increasing your skill set base and gaining a huge competitive edge in the job market. If you are oriented towards audit, tax aspects and financial accounting, then opt for CA. CWA tackles study relating to cost and management accounting in great detail. Company secretaryship deals with legal aspects threadbare. The job prospects of being a CWA are not as varied as they are for a CA. A CA has the authority to verify and certify all accounts including the balance sheet of an organisation, unlike a CWA, whose expertise is limited to analysing and determining organisational and management costs. Though the role of CS can't be compared to that of accounting professionals, every organisation needs them for sound advice on corporate, legal, secretarial, administrative and even tax-related matters. Any company with an annual turnover above a certain limit is mandated to have one.So, which qualification will you credit in your career plan sheet? Balance your interests and aptitude well!Best of luck for your success.

Capital resourcesOf course, money is the vital part for any enterprise to perform its plan. No company can survive without having capital resources. Once a company has enough budgets, they can easily launch their projects and expand its scale. There are also several ways for an enterprise to maintain stable budgets by some resources such as investment opportunities, funding, and annual income.Remember thisBefore giving money to any one you must note it down and than you give and first collect money after that you make note of it ,if there is any mistake find out from your noting.Record keepingOne should check the income and expenditure with reference to period ,place ,time ,head of income / expenditure source, bringing forward ,quantity ,the payer /paid the person causing payment to be made, the render and the receiver. Keep financial record with minute details.BudgetMoney may keep flowing into the orgnisation ,but goes out at double sped it come in .Controlling this outflow is possible only if one plans in advance .You should have system similar to the dam on a river which helps in storing water so that it can be used as per convenience. Make monthly and quarterly budget. divide into Fixed and variable expenses and compare with actual not down the variance between budget and actual .Analysis expense regularly and don't reduce unnecessarilyLearn about financeOne very important aspect of financial management is to continuously learn financial skill .As your company grows,the financial challenge grow too.Make a cash flowWhat is coming in and what is going out .Incoming is sales and other income and out flow is purchase and expenses like salaries, wages conveyance etc .As the company grows incoming and out going is also grow. Make daily, monthly and quarterly cash flow and budget.Daily cash flow Like this Cumulative01/06/2018 Cash on hand RS 10000bank balance Rs15000 250002/06/2016 Wages -5000 200003/06/2018 Salaries -2000 180007/06/2018 Mr X -- 1000 170008/06/2018 Mr Y 10000 27000Like that make sheet in excelTake very good care of treasury in difficult timesIn start from the capital requirement stage and then comes the short term sunning capital requirement and if not tackled well there could even be debts stage which can prove fatal for the organisation. So keep learning new financial skill about investment tax structuring .Avoid dirty moneyPay due taxes ,loan instalment in time so you can save interest and penalty.Deal with right people .Pay dues on time and create a goodwill .Promise is promiseBe clear in financial dealing .Do not avoid to take advice of finance expert as an when requireAll the very best to you