REALLY THE ODDS BEING EVENED OUT ????

REALLY THE ODDS BEING EVENED OUT ????

Standing in a overcrowded Metro with no place to make for other passengers to de-board the train, and looking in a vexed way the advertisement of the Delhi Government for implementation of the odd even scheme again from 15^th April to 30^th April,2016.  The only thing comes to our mind is the reason, result and the impact of this scheme.

During the 1^st quarter of this year, the result of this scheme is really out of sight. There was a decrease in pollution level but that was because other reasons as stated by the weather department.

Exempting the bikes and women drivers also made up for a big debate as it was not on the terms of equality and they also make pollution.

Adding to that in the long run the scheme will definitely going to increase pollution as well as parking problems.

Think about it, a high class rich person will buy another car, he will only decrease parking space; a middle class person travels through Metro and bus only on maximum days and the lower class don’t really have a car. Also a middle class person who pays the EMI all year and use the car only on the family outing once a month will surely going to do that through his car or his friend’s car.

The biggest think about is that Metro has still not made all the trains 8 coached, plus the officials confirmed that the waiting period cant be decreases to low to 90 seconds from 2 minutes average time. The result is that people travel like chickens in Metro during odd even and will continue to do so during odd even implementation.

In addition to that the buses are still not being delivered fully and people also not prefer them to travel for long distances.

Adding to that pollution reduction was the prime reason for the scheme and not the decrease in traffic.

Though the odd even scheme appears to be a very noble thought of the Delhi Government but till the time the public transport doesn’t make it compensate it to the fullest the odd even is and going to be a good scheme only on papers.

Views expressed are personal.

WRITTEN AND POSTED BY

SAMIR DEWAN

EDITOR AT CHARTERED BLOOD

THE STARTUP ERA- LETS HELP THE FUTURE MILLIONAIRES­

THE STARTUP ERA- LETS HELP THE FUTURE MILLIONAIRES­

For the past couple of years the Indian economy has been witnessing a high rise in the rate of startups. The growth rate of this startup business is also very high, with hundreds of them starting every year by the self motivated, inspired and goal oriented people.

The new tech savvy generations are smart bunch of people, motivated to do something extraordinary and are inspired to do it in their own way.

There are many situations and problems which are faced by the startup venture. The foremost problem they face is that of getting a new cool and potential idea to either venture into something new or to do the conventional way of business in a different and more suitable way. The second is to fight with the BIG FISH or the competition in our growing economy.

Being a starter and fresher in the industry the capital in their business is a big issue.

Getting money for their new business is a challenge and spending that money in the most effective and efficient manner is a bigger challenge.

Since these industries are more service focused, hence the exemption and deductions given to them are also least. Since the government is more focused towards giving exemptions and deductions to the ventures focused towards production.

Also the success rate of the startups is a big issue. It revolves around the life of many people and their life is also very much effected when the businesses does not work.

With the revolution of this startup industry is at its peak moment, it is the time that the government should start providing some serious benefits to these startups.

Some of the basic benefits which can be given are-

1.   Making the compliances for registration and approvals easy as well as online.
2.   Providing working capital loans at a lower rate of interest or even interest free
3.      Providing 2-5 years tax exemption.
4.      Providing easy tax and law compliances.
5.      Providing suitable deductions under chapter VI.
6.      Providing additional and fast depreciation.

By providing these with suitable modifications and many other schemes, aid and assistance the government can help them grow even in tough situations.

Though the Narendra Modi led government is doing their best to help the business houses in this kind of slump in our economy right now. But it is now the time that the government should help the startup culture to grow out of bounds and become the leaders of tomorrow.

It is now time to act and make the today startups the business houses of tomorrow.

WRITTEN AND POSTED BY

SAMIR DEWAN

EDITOR AT CHARTERED BLOOD

                                

IS OPPOSITION'S WORK IS JUST TO HOLD THE SESSIONS??

IS OPPOSITION'S WORK IS JUST TO HOLD THE SESSIONS??

Is opposition is just to hold the key and important bills in the Parliament or to give suggestions and improvise the existing bills and help the running government to pass the bill and make it an act which can be used for the betterment and development of the country.

With over 1.5 years of Narendra Modi led NDA government we have seen the opposition doing the same thing over and over again in every session of the Parliament.

And this not only applies to Congress and its other allies but to each and every government whether in power or not.

Every time a bill is there to be passed it becomes a necessary issue for the so called opposition to hold the bill in suggestion reforms or do their best possible tactics to waste the sessions time so that the bill could not be passed.

And it has become a regular practice in India , take for example Goods and Service Tax Bill was a Congress’s government bill and was opposed by the Bhartiya Janta Party (BJP) and now when they are in power they want the bill to be passed , the Congress does not want it to be passed.

Though the Indian Judicial system has become as joke in the resent times with the releasing of the Nirbhaya’s rape case convict, the law making structure is also becoming a joke and a black spot on the face of so called the fasting growing economy – INDIA.

With over 4 sessions upheld the fate of GST is still in dark. The big business houses want it, the international market wants it, the people are also waiting for it but the law maker are still doing their rounds on the case of the Gandhis’ and wasting the important time of the Parliament.

The people of Republic of India elects the Member of Parliaments to the Lok Sabha to make the laws and make our country a better place to live , work and grow, but what has been done for the past years is in front of us.

The past one year, what we saw is that one session wasted on the intolerance issue, one session wasted on the communist thoughts of the government which not even exists and this session is wasted on the National Herald case.

Though I admire the Narendra Modi and his vision and mission for India, the last 2 Years saw a significant increase in the credibility of India in the international market, but this issue of wasting the sessions time and holding up of the key bills with which the growth of india also breaks need to be resolved as soon as possible.

It is high time that we should make some major modifications in our law making and implementation structure of our country.

WRITTEN AND POSTED BY

SAMIR DEWAN

EDITOR AT CHARTERED BLOOD

MY LIFE, MY STORY

MY LIFE, MY STORY

My story in the world of Chartered Accountancy started when I first saw my marks in accountancy.

It became my favourite subject and in a short span of time become my first love too. I was an average student till I was in 10^th, but the life had a surprise for me in 11^th, my love for accountancy and commerce was at top peak, I got a scholar badge that year for standing at 3^rd position in all the commerce section.

It was a life changing moment for me, because I never got such a respect in my school.

My friend Varun Mahey told me about Chartered Accountancy and since I didn’t knew too much about the course.

I found that it was something which can help me in fulfilling my dreams and make me a kind of person I want to be.

A year later when I passed 12^th there was a kind of disappointment in my heart for myself as I scored too low of my expectation. It was only 89.6% aggregate though for many people these are good marks, but the ones associated with the commerce industry know that this is nothing in front of the ones who wanted to be in college. I didn’t even scored highest marks in Accountancy.

Though not high but there was an expectation in my eyes during my +2 time that I would make it to a regular college in Delhi University.

But my friends who scored 95% could not make it to a good college in north campus how could I even imagine that with my marks.

Somehow in few days I got out of it and make my mind to give full attention to get good marks in CA-IPCC so that I can also stand up and say that I did something.

The day is still fresh in my mind when I first enter my cost fm class and I saw 2000+ students and I was dumbstruck as it was clear that I have to compete with these many plus many other students in my exams with result that is barely less than 10%.

My journey during tuitions was full of ups and down, there was a time when the tuition timings and travelling was killing me from inside  and three also was a time when  me and my friends used to sit on the floor of the last coach of the overcrowded metro and used study till the time our stations do not come.

Studying during travelling in metro and all the difficult situations made us tough towards the hardships in life and made me more focused to do something great.

In the last the tuitions got over a and my papers of b.com hons 1^st years on 15 June and I was on my bed with books of all the subjects and this was the time which is more crucial then any other thing in life.

It was barely 4 months for self study and revision and to do the things which would make me a 
CA-FINALIST.

Firstly I would like to tell you that at that time also I was not having my own phone so watsapp was not an issue plus I didn’t have too many friends which could be a possible distraction as all my friends were doing CA only and we all knew that we should not disturb each other more often.

In first month I started with cost fm and finished it then accounts then theory, for each and every month there was a target in my mind and for each and every day I used to make a target on that day only keeping in mind what subject need to be studied that day.

What I would suggest is that I maintained a small diary and i used to write my goals everyday that 

what I have to do today and till the time I don’t achieve it I usually don’t go to sleep.

The day which is wasted due to any other reason when I could not study I just used to let that page empty with a tight slap on my face and start to study for the present day.

I first faced a problem in the month of September when I saw that the cost fm which I studied was out of my mind.

I decided to do practice material for that and found out the power of revision and importance of practice material that very moment.

I did practice manual for each and every subject, and truly speaking more than 75% of questions was from study material( practice manual and study mat).

And during exam time whenever I used to feel odd or de motivated I used to say that it’s just another paper and I have to see more difficult and important exams in future.

Be relaxed during paper no matter if the paper didn’t end well just forget it and prepare for the next paper. This thing happened with me in law paper and never got tensed because it went really bad. I just started preparing for the next paper.

And 2 months after that I cried sitting in front of my computer with the mark sheet in it stating that I scored 60%+ marks in CA-IPCC with both groups cleared. It was a life changing moment for me.

It was the passion of mine to follow my dreams and the junoon to do something in my life and the rectification of my disappointment with the result of 12th gave me the energy to do it.

I hope the best for you all and like to tell you that you can and you will no matter what the circumstances are.

All the best and I hope you like my story.

WRITTEN AND POSTED BY

SAMIR DEWAN

EDITOR AT CHARTERED BLOOD

DEBIT AND CREDIT NOTES EXPLAINED

DEBIT AND CREDIT NOTES 

Every time, I heard the words , DEBIT AND CREDIT NOTES,  I used to get stuck at it and used to think over it again and again and wasted my time and I am sure that many amongst you have also experienced the same, but today I am gonna explain it to the depth with examples and I hope that it will help you to the core and here I go,

WHAT ARE DEBIT AND CREDIT NOTES?

DEBIT NOTE – it is an instrument issued by the PURCHASER of the goods to the seller of the goods indicating that he wishes to return the goods purchased by him .

CREDIT NOTE- it is an instrument issued by the SELLER indicating that goods returned by the purchaser has been received by him.

ACCOUNTING TREATMENT :

In the books of purchaser-

• ·         When goods are purchased following entry  is passed:

PURCHASE A/C                 DR.

  TO CREDITOR   A/C.

( Being goods purchased)

• ·         When a purchaser wishes to return the goods, he issues a DEBIT NOTE and passes the following entry

CREDITOR A/C.                  DR.

TO PURCHASE RETURN A/C.

(Being goods returned)

READ ALSO: GOLDEN SCHEMES

In the books of seller:

• ·          When goods are sold

DEBTORS A/C.                   DR.

TO SALES A/C

(Being goods sold)

• ·         When seller issues CREDIT NOTE  to the purchaser indicating that goods returned by seller has been received by him and the purchaser doesn’t have to pay anything for the said described goods in the credit note.

SALES RETURN A/C.        DR.

TO DEBTOR A/C.

(Being goods returned)

POINT TO BE REMEMBERED FOR BETTER UNDERSTANDING:

 For remembering who issues debit note and who issue credit note, just consider the DEBTOR AND CREDITOR at the time of returning goods, if debtor is credited, it is a credit note and if creditor is debited it is debit note.

READ ALSO: ACCOUNTING STANDARD -1

IS IT NECESSARY THAT CR.AND DR. NOTES ARE ISSUED ONLY IN CASE OF RETURN OF GOODS?

The answer is NO,

In case either of the party is over or undercharged, DR. AND CR. NOTES can be issued by them to settle the account.

Sample debit and credit notes:

                                   FIG. DEBIT NOTE

FIG. CREDIT NOTE

POSTED BY, 

VARUN MAHEY

EDITOR AT CHARTERED BLOOD

PERSEVERANCE – THE WORD OF OUR WORLD

PERSEVERANCE – THE WORD OF OUR WORLD

Les Brown, the famous motivational speaker said,” your dreams are possible, it is going to be hard, their will be disappointments, hopelessness; but it is possible”.

The word Perseverance and Persistence hold a lot of importance and meaning in our WORLD. No matter from which background you belong to or what your dreams and aspirations are or what your life goals are, but what you need is Perseverance.

As per Google, perseverance is – continuing in doing something despite difficulty or delay in achieving success. Anybody associated with our profession ( CA,CMA,CS etc) or who has high dreams to achieve something substantial and important to him has to have the power of perseverance.

From the first step of giving hard hitting and difficult papers to attending the long period trainings, persistence is really required. In Chartered Accountancy course itself it holds high place in our mind and soul. In every step of becoming a professional and even after becoming one, we make a lot of choices which will be going to affect our overall dreams and desire.

Life will try to stop you, ignore you, keep you in hopeless situations; but the one who is going to work hard and continue to put his plan in action will one day achieve his DREAM. And that day will be the one when he will recognize that he got that because he could persist in his actions and doings.

In our profession the process of giving the over the top hard papers which require a lot of studying and hard work coupled with the exhaustive yet very interesting articleship, the success rate being low require a lot of hope and Perseverance. The fact that when your friends are enjoying and partying and you are missing that thing and having hope that one day you will also do it with your own money when you will achieve your dreams requires the Power and Support of Perseverance and Persistence.

In every sphere of life and for every person on this planet their will be hardships coming along the way, their will be difficulties and major setbacks. The one who has the strong and powerful will, hope and desire to achieve his dreams coupled with hardwork , will be the one who will achieve it with the help of persistent tasks and actions.

So friends no matter at which level you are whether a student , a trainee , or even a member, just believe in your hard work and just work towards your goals and you will definitely one day achieve it because all you did was Perseverance.

WRITTEN AND POSTED BY

SAMIR DEWAN

EDITOR AT CHARTERED BLOOD

CA - CENTRE of ATTRACTION

Lots and lots of students are entering the CHARTERED ACCOUNTANCY COURSE now and this course is becoming CENTRE of  ATTRACTION for students .

At present there are about 8 Lakhs students of our prestigious institute INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (ICAI) and this figure is increasing subsequently.

Institutes members are more than  2,29,146 . The chart represents it better :

Now , MAY 2015 RESULT is show with table below :

CA FINAL

CA FINAL  EXAM	CANDIDATES        APPEARED	CANDIDATES    PASSED	PASS PERCENTAGE (%)
BOTH GROUP	42847	3538	8.26%
GROUP I	72874	8317	11.41%
GROUP II	77941	12894	16.54%

 CA CPT 

EXAM	CANDIDATES        APPEARED	CANDIDATES    PASSED	PASS PERCENTAGE (%)
CA CPT	128916	32619	25.30%.

Also , the result of IPCC is likely to be declared in the first week of August , although, official notification is not out yet .

POST BY :

RAHUL MAGGO 

EDITOR AT CHARTERED BLOOD