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How to take Wise decision about Career
CA CS Prakash Somani (A helpin on 04 June 2014

Everybody talks about one thing, I have to
clear my CA exams but have you ever
thought beyond CA course i.e. what will be
your core area of interest once you become
CA!

There are n number of options like
accounts, Finance, Banking,
manufacturing, Service sector, Financial
institution etc. how will you decide that in
which field you are more interested? Not
easy! Agreed? So I am here to make it
simplified to you:-

Manufacturing:

There are N number of companies into this sector so scope wise no issues there are lot
of scope

Manufacturing companies generally ask for ICWA as well so better you also prepare
yourself for CWA to get additional advantage

You should be well versed with Excise and Custom rules

These companies generally involves lot of accounting knowledge mainly on SAP (now a
days most of companies are implementing SAP as accounting package as it is well
integrated and secured software compare to other available softwares)

You should have ability to built good contacts into departments as whenever any inquiry
comes you have to your sources to settle the matter with excise and customs authorities

Sometimes you should be ready to travel a lot as generally factories are based out of city

You should keep yourself ready to get good opportunities from remote locations

Remember that there are few standards which are common in every manufacturing
concern so be ready to join a small/medium size concern in case there is delay in offer from
big size company. Though it may not appeal to you initially but later it will help you to get
good scoring.

If you want to open your own company then better you join a small size company because
in smaller companies generally one staff handles multiple responsibilities

Service Sector:

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This is my favorite sector to work
Pretty straight forward and not so complicated like manufacturing sector
The companies in service sector generally do better margins then manufacturing as
service companies have lesser cost of delivering
Comparatively there are few items for revenue generating
There are defined line of business which is very few i.e. in a manufacturing company there
could be production of multiple items however on the other side in service companies the
only product is service

If you are in media industry (I am into Media) then you are surely going to enjoy your
work as generally they have casuals allowed all work days, Saturday and Sunday off, l ot of
parties and you enjoy your work as media is now a days on top of our minds.

There is no much complex tax regulations though for each service sector there is one
regulation body

Banking & Financial institution:

This field is growing rapidly. Sanction of 2 banking licenses (Mudra and IDFC) indicates
the growth to come into this sector

Challenging sector to work as lot of hard cash transaction involved

Lot of control required as RBI is regulatory body for banks and even a little fault may lead
to major penalties or even cancellation of banking license

There are various posts in banks which are totally different e.g. Relationship manager,
wealth advisory, Loan officer, Auditing, accounting etc. so choose your area of interest
wisely

Looking at current scenario you may not expect a good pay as compare to other sector
there are fewer no. of entities

You should have domain knowledge of banking and finance

Generally you will have greater responsibility in private banks then government banks

Better to enroll for good course specific to banking and finance in order to improvise your
banking skills

Politics:

Best business in India but really difficult to manage as there are no rules in politics. It
seems easy to been into politics but its really hard to reach at top or come in lime light of
common people. There are risks and there are big rewards.

Please dont feel offend if I call politics as business as in general its a money making
machine only (refer MLA, MPs etc. salary and compare that with their total assets, I am sure
that even a 15 digit calculator will not be able to accommodate their income which is getting
doubled as the year passes).

Hope that above mentioned guidelines will help you to choose your career post you become
CA. I wish you luck for your career. Somebody has rightly said Choose a job you love, and
you will never have to work a day in your life. Best attitude to grow is if you are free then
free somebody else i.e. if you have free time then look into newer areas and improve your
learnings. Lastly whenever you are looking out for change or seeking first job keeps in
mind that you are what you do; Sow well and Reap well. Whatever you do in your career
always keep in mind that Family is your top most priority.

:) A hel pi ng hand! :)
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seriously i have never thought bout this......... it's really helpful thanks sir
Very Helpful
very good article sir....thank you...very useful to me because i wanna become a
industrialist......
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