Financial Statement Analysis And Business Valuation For The Practical Lawyer: Fill & Download for Free

Chartered Accountancy course opens up wide range of opportunities in different areas. The new generation of Chartered Accountants are not restricted to Audit and Taxation, but have reached to various other areas. Following is a compilation of those areas as mentioned on ICAI website[1][1][1][1]besides a few additions from my end.(a) Financial Analysis -Chartered Accountants are today widely being employed for Financial Analysis. Listed companies require hundreds of Chartered Accountants for Financial data analysis and many other purposes in the field of finance directly in nexus with accounting and audit.(b) Credit Management -Banks do employ Chartered Accountants as Credit Managers. This includes analysis of various kinds of applications for Financing and their approval with due regards to the creditworthiness of the applicant.(c) Treasury Management -Portfolio Management Companies or even the General Companies hire Chartered Accountants for managing wealth, procuring finances and investing the excess funds in investment opportunities.(d) Cost Accountancy -A Chartered Accountant is also trained to ascertain the costs of production and of processes at different levels of operations in the manufacture of a product and in the rendering of a service. He is also equipped to provide costing information for the guidance of management, introduce cost control methods and assist the management in establishing appropriate selling prices.(e) Special Company Work -The services of Chartered Accountants are frequently sought in connection with matters such as the formation, financial structure and liquidation of limited companies. Secretarial and Registration work and the duties of a Receiver are also undertaken by them, in addition to other company work.(f) Investigation -Chartered Accountants are often called upon to carry out investigation to ascertain the financial position of business in connection with matters such as a new issue of share capital, the purchase or sale or financing of a business, reconstruction and amalgamations. Their services are also sought for undertaking investigations with a view to achieving greater efficiency in management or administration, finding out reasons for increases or decreases in profits etc.(g) Executors and Trustees -A Chartered Accountant is also often appointed executor under a will or trust in order to carry on the administration of the estate or settlements. Appointment of this nature require the Chartered Accountant to work in Co-operation will solicitors or Lawyers. Conversely, Solicitors or lawyers carrying out works of this kind usually call in Chartered Accountants to assist them in the accounting aspects of their work.(h) Directorship -Many members of the Institute who hold senior position in industry and commerce are also directors of their companies. Moreover, many members who are actively carrying on public practice are also directors of companies. The advantages of having a Chartered Accountant on the Board of Directors are now well recognised and the practice of making such appointments has grown rapidly.(i) Companies Secretarial Work -In a well organised company or group of companies, the Secretary is a man with a professional qualification (often a Chartered Accountant) who, in addition to his multifarious other duties, is an important link in the management chain. The continued growth of limited companies enables the professional accountants to offer secretarial services to small companies, many of which are being virtually run by a few individuals who are unable to afford a full-time secretary.(j) Management Accounting -This is another field in which the Chartered Accountant is able to render a service which is utilised in a variety of ways like formulation of policies, day to day control, performance evaluation, etc.(k) Share Valuation Work -The Chartered Accountant undertakes the valuation of shares of public and private companies when amalgamation or reorganisation takes place for the purpose of takeover bids and other acquisitions.(l) Management Consultancy -Chartered Accountants play invaluable role in assisting business organisations to utilise resources effectively, increase their efficiency and achieving their goals and objectives as management consultants, render host of consulting services.(m) System Development -Developing management information system.Designing budgetary and control system.Determining measures of the effective utilisation of capital.Installing cost accounting system.Assisting the management in the efficient use of working capital as an aid to improve productivity.Advise on the system analysis and design, including selection of hard work and development of software and feasibility of incorporating computer applications for accounting and commercial activities.(n) Management Advisory -Advising management on principles of organisation and methods for effective delegation and planning of work.Rendering advice on international taxation matters, foreign collaborations, joint ventures, double taxation agreements etc.Reviewing procedures and equipment for operational control.Review of financial planning and policies for effective utilisation of resources.(o) Special Management Services -Rendering secretarial services and advice on Corporate Law matters.Advising management on amalgamations, reconstructions, takeovers and expansion schemes.Assist in the preparation of feasibility studies of new project and expansion schemes.Assist in finding solutions for specific business problems such as product mix decisions, pricing decisions, making representation to Government on various matters etc.(p) Human Resource Management -Appraisal of personnel policies and practices.Assist in the selection of executive personnel in the areas of production, marketing, accounts, data processing, personnel, general administration etc.(q) Representation in various matters -Acting as advisor or consultant to an issue, including such matters as drafting of prospectus and memorandum containing salient features of prospectus, preparation of publicity budget etc.Acting investment counselor in respect of securities.Acting as registrar to an issue and for transfer of shares/other securities.Service as an arbitrator for the settling of disputes.Preparation of statements of affairs and the duties of a trustee in bankruptcy or under a deed of arrangement.(r) I don't remember a few - There are many more areas that are still not covered above. This list has no end.(s) Work in Progress - There are many emerging areas that are currently under development phase and soon we will see Chartered Accountants providing these services.(t) Coming soon - There are lots of areas that will develop in future and fall into the basket of Chartered Accountants!Conclusion: Chartered Accountancy course is a difficult course, requires a lot of efforts, but in the end, it is really worth it, since the opportunities for this profession will never end, but keep expanding instead.Footnotes[1] The Institute of Chartered Accountants of India[1] The Institute of Chartered Accountants of India[1] The Institute of Chartered Accountants of India[1] The Institute of Chartered Accountants of India

MBA can be done with specializations like finance, marketing, human resources, operations, systems, general management etc.MBA Finance careers- Investment Management, Taxation and Tax Planning, Corporate Valuation, International Finance, Management Control System, Insurance Management, Financial Statement Reporting and Analysis and Management of Financial Services,Asset Management,Credit Risk Management,Derivatives Structuring,Hedge Fund Management,Private Equity,Treasury etc.MBA Marketing careers- Marketing Manager,Brand manager,Asset Management,Corporate sales,Market Research Analyst,Sales Manager,Media Planner,Product Manager, Digital MarketingMBA International Business careers-Export managers and executives,International business consultant,International Business Development Manager,International Marketing Manager,International Finance Manager,Global Business Manager,Export coordinatorMBA HR careers-HR Generalist,Staffing Director,Technical Recruiter,Compensation Manager,Employee Relations Manager,Employment or Placement Manager,Director of HR Training and Development,Organizational development and change consultantMBA Operations/Supply Chain Management careers-logistics,distribution manager,plant/facility manager,procurement and purchasing,warehouse manager, supply chain manager,inventory control etc.MBA Systems careers-Business/IT alignment,IT Governance,IT Financial Management,IT Service Management,Sourcing,IT configuration management, data mining, business intelligence,multimedia, inter networking and strategic IT management.You can work in almost any industry after MBA.For being a MBA you need a graduation degree, then clear entrance exams like CAT, XAT, GMAT etc. clear their gd/pi rounds, get into a b school complete MBA in 2 years.You should note that there are thousands of b schools in India, but only a handful of them are good. Aim for the older IIMs, XLRI, FMS, JBIMS etc. Doing mba from any third rate college is a waste of time and money.LAW-The several fields in which a lawyer may specialize in are:Civil Law that deals with concerns of private rights of individuals, handling damage suits, breach of contract suits, drawing deeds, wills, mortgages, acting as trustee or guardian, etc.Tax Law has a tuned in focus on income tax, estate tax, real tax, franchises, problems of inheritance, etc.Criminal Law where one deals with offences against society or state. This is probably the most exciting branch of law. Here the job involves interviewing clients and interrogating witnesses, correlating findings, conducting trials, preparing a case for defence, examining, cross examining in court and so on.Corporation Law deals with advising corporations on their legal rights, obligations, privileges; studying statutes, constitutions and ordinances; and, helping the corporations to make the all-important decision of whether to go in for a suit at all.International Law specialises on treaties, customs and traditions observed by nations in their relations with one another.Labour Law deals with workers, their associations, working conditions, workers’ rights and duties, etc. Frequently, a lawyer specialising in labour law is called upon to sort out issues between management and employees in firms.Real Estate Law covers conveyance of property, search records and deeds to establish titles of property; acting as trustee for property; and, drawing up legal documents for deeds and mortgages.Patent Law focuses on securing patents for inventors from the patent’s office. Here the lawyer specialises in prosecuting or defending patent infringement and preparing detailed specifications of the patent and so on.Studying law from top colleges can give very good returns. Successful lawyers can practice on their own and earn millions.

The following are the various services a chartered accountant can offerServices by CAAn important phenomenon of recent times is the rapid growth of the accountancy profession. The vast changes occurring in the economy of the country have been placing great responsibilities on the Chartered Accountants. It also constitutes a challenge to the profession to bring to bear their knowledge and skill in their specialised fields of activity. The types of functions generally performed by the Chartered Accountant are varied. The more important ones amongst them are discussed below.AccountancyThis includes the writing up of accounts and the preparation of financial statements. It encompasses a wide area ranging from simple Book keeping to complex financial analysis.AuditingPossibly one of the most important functions of a Chartered Accountant, it is here that his specialised training, skill and judgment are most often called into play. The purpose of auditing is to satisfy the users of financial statements that the accounts presented to them are drawn up on correct accounting principles and that they represent a true and fair view of the state of affairs of the organisation.TaxationWith a number of taxes on the statute book, current and continuing tax information has become vital to the effective economics of business management. The assessment of taxes is very closely linked with financial accounts. The Chartered Accountant with his experience in accounts is in an advantageous position for preparing the returns for tax purposes, representing assessees before the Income-Tax authorities and rendering general advice on taxes to his clients. An additional responsibility placed on him recently is that his services will be required by the tax department for auditing complicated cases, having large revenue potential. The requirement under the Income-Tax law for compulsory maintenance of accounts by the specified categories of taxpayers would also make a demand on his time and services.Cost AccountancyA Chartered Accountant is also trained to ascertain the costs of production and of processes at different levels of operations in the manufacture of a product and in the rendering of a service. He is also equipped to provide costing information for the guidance of management, introduce cost control methods and assist the management in establishing appropriate selling prices.Special Company WorkThe services of Chartered Accountants are frequently sought in connection with matters such as the formation, financial structure and liquidation of limited companies. Secretarial and Registration work and the duties of a Receiver are also undertaken by them, in addition to other company work.InvestigationChartered Accountants are often called upon to carry out investigation to ascertain the financial position of business in connection with matters such as a new issue of share capital, the purchase or sale or financing of a business, reconstruction and amalgamations. Their services are also sought for undertaking investigations with a view to achieving greater efficiency in management or administration, finding out reasons for increases or decreases in profits etc.Executors and TrusteesA Chartered Accountant is also often appointed executor under a will or trust in order to carry on the administration of the estate or settlements.Appointment of this nature require the Chartered Accountant to work in Co-operation will solicitors or Lawyers. Conversely, Solicitors or lawyers carrying out works of this kind usually call in Chartered Accountants to assist them in the accounting aspects of their work.DirectorshipMany members of the Institute who hold senior position in industry and commerce are also directors of their companies. Moreover, many members who are actively carrying on public practice are also directors of companies. The advantages of having a Chartered Accountant on the Board of Directors are now well recognised and the practice of making such appointments has grown rapidly.Companies Secretarial WorkIn a well organised company or group of companies, the Secretary is a man with a professional qualification (often a Chartered Accountant) who, in addition to his multifarious other duties, is an important link in the management chain. The continued growth of limited companies enables the professional accountants to offer secretarial services to small companies, many of which are being virtually run by a few individuals who are unable to afford a full-time secretary.Management AccountingThis is another field in which the Chartered Accountant is able to render a service which is utilized in a variety of ways like formulation of policies, day to day control, performance evaluation, etc.Share Valuation WorkThe Chartered Accountant undertakes the valuation of shares of public and private companies when amalgamation or re-organisation takes place for the purpose of takeover bids and other acquisitions.The Chartered Accountant as Management ConsultancyCA play invaluable role in assisting business organisations to utilize resources effectively, increase their efficiency and achieving their goals and objectives. as management consultants, CA render host of consulting services as under:Developing management information system.Designing budgetary and control system.Determining measures of the effective utilization of capital.Installing cost accounting system.Assisting the management in the efficient use of working capital as an aid to improve productivityAdvising management on principles of organisation and methods for effective delegation and planning of work.Rendering advice on international taxation matters, foreign collaborations, joint ventures, double taxation agreements etc.,Reviewing procedures and equipment for operational control.Review of financial planning and policies for effective utilisation of resources.Rendering secretarial services and advice on Corporate Law matters.Advising management on amalgamations, reconstructions, takeovers and expansion schemes.Assist in the preparation of feasibility studies of new project and expansion schemes.Advise on the system analysis and design, including selection of hard work and development of software and feasibility of incorporating computer applications for accounting and commercial activities.Assist in finding solutions for specific business problems such as product mix decisions, pricing decisions, making representation to Government on various matters etc.Appraisal of personnel policies and practices.Assist in the selection of executive personnel in the areas of production, marketing, accounts, data processing, personnel, general administration etc.Acting as advisor or consultant to an issue, including such matters as drafting of prospectus and memorandum containing salient features of prospectus, preparation of publicity budget etc.Acting investment counselor in respect of securities.Acting as registrar to an issue and for transfer of shares/other securities.Other ActivitiesAmong the many other duties undertaken by a Chartered Accountant, mention may be made of service as an arbitrator for the settling of disputes and those connected with insolvency work, such as the preparation of statements of affairs and the duties of a trustee in bankruptcy or under a deed of arrangement.Source:-ICAI website