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Showing posts from June, 2007

Be a radio transmitter or satelitte dish to get a new job

Today morning, I received an email from one of the member

"I am a Cost Accountant working for a big group in Dubai as Internal Auditor. Now I am searching for a good job in India. Please inform me about the oppurtunities in India specifically in Kerala."

This reminds of similar search I was doing 5 years back when I was looking for job in India. I remember telling my friends back home to tell me about the adverts in The Times of India so that I could send them my CV. That was too time consuming. Eventually I got a job through a walk-in interview in a reputed IT company and from that time onwards my career for SAP began.

Apart from going to through the headhunters and newspapaper adverts, I would also follow this approach:

Career Objective: Register with the job sites and fill the career objective in little bit of more detail what you are looking for in your new job. This is the most important thing the employers are looking for when you want to come back in India.
Job Alerts: Vis…

Mandatory Cost Audits

Two articles from the news alerts on the MA Blog that caught my attention Mandatory Cost Accounting Norms Revised and Russia's Latest Bad habit.

The first article

"The ministry of corporate affairs has started reviewing the way it orders mandatory cost audits on companies to optimise the coverage of each of the 44 sectors for which it has notified norms for keeping cost records.

In many sectors, cost audit data is used by the government for decisions related to pricing, excise duty, income-tax and in calculating the injury suffered by the domestic industry due to dumping. The audits also reveal the extent of efficiency and profitability of a company as well as the sector"

And the second article has

"Only a few things are absolutely inevitable in today's world: death, taxes, and the Russian government's lusting after energy projects once they've been developed by Western companies."

The thoughts that come to my mind are:

Is Cost Audit only for large corpo…

Goal Setting.... About your career

I was reading a message posted by Soumen Dutta in the CMA Yahoogroup about Job for Cost Accountant in Australia and wondered .... a few individuals can really make a difference to the entire community. The idea for anyone in network is to catch the right signal to steer their career.

I know what it's like to keep my head above water. 😣 I know what it's like to feel stuck 🙁 I know what it feels like to feel like everything is closing in on you and that there is no way out 🙊 So this could be the "sign" that you've been wanting to see for a while! 🤗 There's opportunities, and you won't be stuck in that situation forever! 💙 #love #wednesdaymorning #wednesday #motivation #humpday #happy #happiness #freedom #goals #goalsaf #opportunity #opportunities #positivevibes #IAmRhino #PLD #PrettyLittleDreamers A post shared by T I N A✨P U T A U S K I E N E (@tinapiercy44) on Feb 7, 2018 at 1:17am PST

Few key things to be on the right track: Right Skills: Gaining ed…

Indian retail policy attacked

Indian political think tank feels that large retailers will put small shop owners out of business. In the past as well as present these small shop owners make huge profits without a healthy competition and evade taxes by selling without invoice.

Don't you feel that Indian consumers should be treated fairly and government get the tax revenue..

One of the reason the taxation is quite high is probably there is so much tax evasion. When the business is organised, there is a seperation of ownership and management which promotes good corporate governance and accounting. The checks and balance will make it difficult to evade taxes.

A healthy competition with both Indian and foreign players would be beneficial for Indian consumers who have been suffering and paying more because of non competitive retail sector.

read more | digg story

Management Accountants ... Share your thoughts.


Santosh Puthran

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SAP or Oracle Financials... which one should I do

I sometimes receive an email from members regarding whether to do SAP or not.

What is your advice for SAP FICO. Should I go for it ?
Which are good training institutes to avail the courses ?
What are the job prospects ?
Which one is good SAP or Oracle Financials ?

The first answer you have to explore yourself where you want to take your career ? Do you want to be a ERP Consultant for few years and then move on Accounting or continue to be in IT industry. Then other questions can be answered

SAP or Oracle

Both ERP solutions are dominant today in the marketplace. However SAP is number one in ERP application. I am SAP Certified Consultant and also trained on Oracle Financials. If you ask me, I will always recommend you to go for SAP since the customer base for SAP is more than Oracle and the opportunities are more. You need to check on salary of SAP & Oracle consultant since once you get into one of the ERP, you don't look for the other.

SAP Training

There are two way route for certific…

Accountancy News Updates 15-June-2007

‘Youngster’ named new CIMA president

Gordon Grant, a 44-year old Scotsman from Edinburgh, has been named as the new president of the Chartered Institute of Management Accountants, following its AGM held at the Café Royal over the weekend

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ACCA elects Gill Ball as global President

Gill Ball, finance director of the University of Birmingham, is only the third woman president in ACCA's 103-year history. She currently chairs the ACCA Governance Committee and is a member of the Finance Committee.

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Some old news

CIMA refocuses on customers and employer relations

CIMA - the Chartered Institute of Management Accountants – has made a new senior appointment as part of its restructuring plan aimed at focusing on employer relations and the needs of its international customers

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ICAEW poaching plan has failed, claim rivals

The ICAEW has lost more members than it has gained, despite a high profile project to poach senior members of other institutes, its rivals have claimed.

Read …

Can we Check out of Legislative sphere without risking our to derecognition.

Accountants today across the globe are what the legislation want them to be. In our attempt to our emphasise our role as business manager/process manager/financial engineers do we have an option to exit out of legislative zones.
Take for instance if ICAI decides tommorrow to derecognise itself from Statutory financial audit and taxation role what is left is a simple Post graduate qualification in Accounting with its members. Then the question arises do accounting need accountants in business. In todays IT world a physical accounting qualification is almost not necessary ofcourse there will be a lot of back up exercise but they are one time with few manning (rather miniscule) which means Accounting perse works on legislative sanctity and compliance requirement as somebody the other day said if there were not 2 million pages of Accounting standards probably its conformance certification would not have been a must.

Well a question may be asked what if the stakeholders other than legisla…

Branding of a Qualification is different from Branding of a function

The Role of the CMA_CMA Canada views it this way.
Each CMA plays a critical role in building the CMA brand. A brand is not just an ad, a slogan, or
a fancy logo. We convey our brand promise-success-through communications. But we deliver it
through experience. As management accountants, you are the daily ambassadors of the CMA brand. Because you are the CMA brand! Through your actions, your attitudes, and your performance, you bring our brand to life. It’s in your handshake, your presentations, and in your
choice of words on the phone. It’s in your personality, your approach, and your attitude. It’s in the quality of your work, and in the results you deliver. In short, the CMA brand is virtually in everything you do. That’s the legacy that you, as CMAs, carry forward.
Our brand positioning and messages, implemented in 2004, are consistent across the country, and the CMA brand communication…

Management Accountant as a Fit person to be a Public accountant.

1.Management accounting is concerned with the provision and use of accounting information to managers within organizations, to assist management making decisions and managerial control functions. Unlike financial accountancy information (which, for the most part, is public information), management accounting information is used within an organization and is usually confidential. Contemporary managerial accounting systems are focusing more on the activities that occur at all levels of the organization.
2.Paragraph 28 of IMAPS 1 states: “Management Accounting refers to that part of the management process which is focused on organization resource use. Thus, it refers to managerial processes and technologies that are focused on adding value to organizations by attaining the effective use of resources in dynamic and competitive contexts.”
3.According to the Chartered Institute of Management Accountants (CIMA), Management…

Accounting News Weekend June 10, 2007

I have reading about the Accounting News updates on the MA blog and following news item caught my attention

ACCA changes its logo: In a span of 20 years, ACCA has three logos. The change forms the final part of a whole new brand identity, which has been developed following a year of consultation with members, students and other stakeholders around the world. The total cost £ 85,000. ICAEW, UK had changed its logo in January 2007, its first change after 50 years. Share your comments, is changing the logo good for the profession or sheer waste of time and money ....
Prince of Wales made ICAEW honorary member: The Prince of Wales has accepted an invitation to become the first honorary member of the ICAEW.Convergence can promote mutual recognition of courses by countries. Q&A with Sunil Talati, President ICAI. Sunil Talati, president, Institute of Chartered Accountants of India (ICAI), believes that the accounting standards set by the institute are largely in consonance with tho…

Management accounting the Accountancy of this century.

With Globalisation of accountancy profession and harmonisation of practices across globe it has become imperitive to ponder upon a comprehensive set of practices addressing all the stakeholders and framing country(economy) neutral policies and practices which will render optimum reporting benefits.

While Book-keeping and financial statements have always been given prominence in the accounting sphere for the reasons best known as adequately addressing owners needs the pitfall in the system was well visualised during World-war II and the beginning of Cost Accounting practices have laid path to what is today known as management accounting.

Management accounting is Global term employed to address various issues primarily starting with determination of cost of product , process and service Business process re-engineering mechanism,triple bottomline,CSR,BSC, and the entire gamut of understanding the business in terms of resource consumption,measuring output in financial and non-financial para…

Websites of Accountants in practise

I have been observing for quite some time the ads of Accounting Firms visible on the MA blog. and clicking the links to find more about them.

Some of the accounting firms that I observed are
Zaidi & Co.
Berry & Co.
King & Watkins

JL Chartered Accountants
GK Kedia & Co.

and they have got a very informative website.

They are ICAEW, ACCA and ICAI firms practising in UK and India. The key highlights about the firm mentioned on their website:
About UsOur ServicesResourcesTax Calculators/Tax news
News RoomFact Sheets
Contact usSome mentioned:

We trust you have found this site of interest. We would welcome the opportunity to hear from you. This may include:

your comments on our web sitea suggestion on additional content you would like to seea request for further information - let us know if you wish to be included on our mailing lista request for advicea request to meetGlazers was the most impressive of the lot as they had described everything about their firm very descriptiv…

ICAI doubles annual membership fee for practising CAs

I have added news alerts "Accountancy News" on MA blog about the happenings in Accountancy World so that the readers of MA blog are up-to-date with happenings. I was browsing the contents of what happened earlier and was surprised to notice ICAI doubles annual membership fees for practising CA.

ICAI President Sunil Talati said, the move is in line with the rising membership of the institute which called for developing its infrastructure, requiring huge investment.

This quite true. You will notice that ICAI is in news every other day and they want to take on all the practise assignments on the earth. You may notice ICAI has been trying to tie up with the institutes abroad or shown a commitment they want to grow internationally.

I am sure that practising members would be happy to contribute by way of increased fees since it is active step towards development. This strong base will help them grow more in long run.

You may notice the hits on ICAI website ... 13 million !!! and …

Public accounting functions

Public Accounting Functions

Audit, Assurance & Risk Advisory Services

Audit practice professionals provide independent and objective assurance on information, transactions and processes. Risk Advisory Services professionals help clients identify, understand and manage business and technology risk, measure and improve performance, and achieve strategic and operational goals.

These services enable clients to make more meaningful and effective decisions, and strengthen their confidence in the information being reported to the capital markets and stakeholders. This function is also often responsible for providing audit committee members with information and supporting audit committee practices and processes.

Financial Advisory Services

Financial Advisory Services professionals are employed in a range of advisory services to help meet the challenge of enhancing shareholder value in a complex, dynamic business environment.

Corporate Finance

Corporate Finance professionals provide independent a…

ICWAI HO on google maps

I have posted on google maps the location of ICWAI Bhavan in Kolkotta based on the information in Wikimapia.

The link to the page in Google Maps is here Please let me know whether anyone has photographs of the building so that it can be posted on google maps. Please send me some of them, I will try to post them or you may link them up.

I think it would be a good idea to provide the link of the map on Wikipedia. Similarly the institute website or regional/chapter website can do the same for their location.


Santosh Puthran

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Accounting Policies... A Sales scenario...

The definition goes “Those principles, bases, convention, rules and practises applied by an entity that specify how the effects of transactions and other events are to be reflected in its financial statements. I remember few years ago, there was difference of opinion between our Financial Controller and Sales Director on how to report sales of some items should be. The question was “how to report sales of 1 free item when the customer buys 5 items”.This is usually in retail business when you have schemes that promote customers to buy in large quantitative. The Sales Director was of opinion that this should treated as expenses whereas the Financial Controller said it is question net realisation for sales is less since the company invoices for 5 items but actually sells 6 items. I have posed this question to many accountants at junior level and most often I have got the answer that the free item should be treated as an expense in profit and loss.The correct answer is to book that 1 sale i…

iGoogle - Your friend, philosopher and guide on internet

The first question I ask myself - how do I remain updated without the need to go to several websites. And at the same time, I take notes when I browse for future reference.

The answer was to configure iGoogle. Go to and click on iGoogle on the right left hand corner of the screen.

Click on Add Stuff and start adding various google gadgets. The gadgets that I have is google reader that helps me remain updated about RSS feeds from the news sites like financial times, economic times, ft, blogs, finance websites, jobs and others. It is very easy to configure and it saves lot of time from visiting other websites. I hoped ICWAI website should have RSS feeds. MA blog has RSS feeds and you can subscribe to it and always remain updated about latest happenings.

You must have noticed that I have put my google reader on MA blog for the benefit of all. Also on my fun blog. You may subscribe to those as well.

I have added google weather and can add more than cities. This helps me…