Accounting & Commerce

The name ICWAI was renamed as ICAI (Institute of Cost Accountants O India). Let's see the difference:
- CAs are mainly dealing with the audit of the financial statement. Tier duty is to form an opinion about the company he/she audit and give in his/her audit report. Whereas Cost Auditor deals with the audit of cost statement and he /she has to submit his /her report in Form CRA-3 within 180 days from closure of financial year to BOD and Form CRA-4 to Central Government.
- The syllabus for CA and CMA are similar but not same.
- The scope for CA is wider when compared to CMAs as CMAs are focused on costing only. U2013 Cost audit is not substituted for financial audit. It's an additional audit. Cost sheet data can be reconciled with financial data in order to ensure the reliability of the data. CA. Audit report shall be submitted to Income Tax department, whereas there is no need to submit Cost audit report to Income Tax department unless otherwise specified.
- While preparing Tax Audit Report CA. Should ascertain whether cost audit was carried out and details of any disqualification identified by Cost Auditor on any materials/items/quantity.
- While doing financial audit CA. Has to comply with Accounting Standards AD, Standards on auditing SA, Guidance, notifications etc. Issued by ICAI and other statutory bodies as and when. Cost auditors have to comply with Cost Accounting Standards (CAS) issued by the Institute of Cost Acc.

The syllabus of B.Com honors entrance exam comprises of:
General English (25% weightage). Logical reasoning (25%). Data interpretation (35%). Basic general awareness (15%). You can refer:
Quant Aptitude by Tata Magraw Hill. Competitive Examinations Tips, Techniques & Short-cut Methods by Guha Abhijit. R. S. Agrawal books on Verbal Reasoning. Business English and Communication by Clark or Days. More Powerful Vocabulary by Wilfred Funk and Norman Lewis.
Apart from books, also spend time on magazines like Business & Management Chronicle by Chronicle Publications and Competition Success Review or even newspapers would help such as The Hindu, Economics Time or The Statesman. As far as the PI is concerned, there is no set pattern for the interview. The questions can be asked from anywhere. It is about only to check your confidence & how much you have the knowledge about yourself. Here are a few things you should keep in mind for your interview:
1. Make sure you are well known about the subjects that you are taking up.
2. Emphasize on why you want to take up the course with regard to your future plans.
3. Highlight your co-curricular activities and talent or skill that you have worked on. Christ follows a strict dress code so make sure you dress formally or in Indian attire for your interview.

Hi,
Yes, BTech, B.Sc or B.Com graduates can benefit a lot from SAP certification. Here is a list of some of the biggest advantages that you can have in getting a certification:
1. Job: We all have hopes of getting a good job in a reputed company. SAP certification can fulfil this dream, with ample job opportunities for skilled SAP professionals.
2. Salary: It is no myth that a certification provides one with the chances of getting a better pay package as compared to one who is not certified. With SAP certification, you can get an above-average package.
3. Reputation: Being certified is a way of establishing your skills. As a certified SAP professional, your reputation in the industry is etched and you will receive a certain sense of respect from your colleagues and employers. This will also motivate them to become certified professionals; improving the talent pool of the organisation.
4. Promotion Stuck in the same position? With a certification, there is a high chance that your career game has changed and you will be able to perform better. The outcome is that you will be noticed by the management, leading to a higher chance of getting a promotion.

Hi Gulshan,
Chartered accountancy is a professional degree course which offers huge scope for the aspirants. After becoming a CA a person can choose to either be employed with a firm as an employee or they can choose to open their own private practice. You can refer to the below links to find all the information about CA course and profession:
https://www.shiksha.com/accounting-commerce/accounting/articles/ca-cpt-stepping-stone-to-becoming-a-ca-blogId-4869
https://www.shiksha.com/accounting-commerce/accounting/articles/career-in-chartered-accountancy-a-repository-of-opportunities-blogId-3595
https://www.shiksha.com/accounting-commerce/accounting/articles/ca-final-may-2016-topper-shri-ram-shares-prep-strategy-blogId-13020.