Ind AS is bringing biggest accounting revolution in India

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Ind AS requires valuation as per Ind AS 113

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Ind AS is required to be Implemented by an expert

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Ind AS is a futuristic accounting standard

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Big Data and Being CA

Meaning of Big Data
Big data is a blanket term for any collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, storage, search, sharing, transfer, analysis and visualization. The trend to larger data sets is due to the additional information derivable from analysis of a single large set of related data, as compared to separate smaller sets with the same total amount of data, allowing correlations to be found to "spot business trends, determine quality of research, prevent diseases, link legal citations, combat crime, and determine real-time roadway traffic conditions”. In today’s world Data are being captured every second by corporates, mobile and internet service providers, and many more. These data are captured to give you a perfect experience of life.

Exemption to Private Companies under Companies Act 2013

The corporate affairs ministry on Tuesday issued a draft notification that proposes some relaxation on the applicability of the Companies Act, 2013 on private companies. The ministry has proposed that certain sections related to appointment of key management personnel, appointment of whole-time directors and managing director, appointment of auditors, acceptance of deposits, voting rights, etc not to be made applicable to private companies in part or in whole. The ministry has asked for comments from the public on its draft notification till 1 July. It seems MCA is soon to be named as Most Confused Authority of India as it comes with this notification which is open for public comments till 1st July 2014. It was to come sooner or latter but the way Companies Act 2013 is being changed everyday, we have to wait and see the finally what it would shape into.

Being CA

In today’s world Chartered Accountants find the easy way out to grab a job in industry with good package and ensure a secured future. The appetites to take risk of CA’s have gone down tremendously in recent past. The ratio of CA in practice and CA in industry has seen huge gap. The CA’s should learn from MBA’s and explore the entrepreneurial capabilities they have learned while doing articleship. The time has come for the change to take place and the new government seem to be working in a direction which would demand young CA’s to step in profession.