FAMOUS CHARTERED ACCOUNTANTS OF INDIA

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LIST OF FAMOUS CA’S OF INDIA

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Famous Chartered Accountants of India. Hey guys earlier we had bring for you 5 Reasons Why CA is Better Than any other Course and 5 statements by celebrities that will make you Proud of Doing CA and today we providing the list of Famous Chartered Accountants of India who got so much fame by doing excel in their respective field.

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Famous Chartered Accountants of India. Respective field does not mean excel in accountancy or taxation but in any field with CA degree in common. So the list of Top Famous Chartered Accountants of India is as follows.

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Aditya Vikram Kumar Mangalam Birla: – Yes the chairman of Famous Aditya Birla Group is a chartered Accountant. He is a Marwari and also done MBA from Foreign Business School. He runs the whole Aditya Birla Group and a true inspiration for all the Chartered Accountants at this time.

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Kumar Birla

Motilal Oswal : – He is one of the co-founder of famous Oswal Group. The Institute of Chartered Accountants of India has awarded him “Excellent Business Achiever in Financial Services” award. This person refuses to do the family business and decided to run his new own business and become Inspiration for us all.

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motilal Oswal

Shekhar Kapoor: – The director of famous Bollywood movie starrer Anil Kapoor “Mr. India” director is none other than a chartered Accountant. He also judged a television series named “India’s Got Talent”.

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Shekhar Kapoor

Deepak Parekh : – The number of achievements of this person is countless. He has been awarded “Padam Bhushan” award by the Indian Government. The number of companies he has worked with is as follows

1. Housing Development Finance Corporation
2. Infrastructure Development Finance Company
3. Ernst & Young
4. Grindlays Bank
5. Chase Manhattan Bank
6. Glaxo India Limited
7. Burroughs Welcome (India) Ltd
8. Castrol India Limited
9. Fairfax India Holding Corporation
10. Hindustan Unilever
11. Siemens Limited
12. Mahindra & Mahindra
13. Indian Hotels Company
14. Sing Tel
15. Board member of AIESEC & AECOM

Deepak Parekh

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Rakesh Jhunjhunwala : – He is an Investor and a chartered Accountant. Due to his mind presence at stock market he is able to achieve the status in top 60 richest Indian. His total net worth as on September 2014 is USD 1.90 Billion (as per Wikipedia).

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Rakesh Jhunjhunwala

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Thats All for Famous Chartered Accountants of India. Keep Sharing.

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Regards

CA GROUPS

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Disclaimer : If a person copies this article without giving any credit will be liable of punishment under copyright act , as this article is copyrighted content in the name of CA GROUPS

ALL ABOUT CARO 2015 AS PER COMPANIES ACT 2013

ALL ABOUT CARO 2015 AS PER COS ACT 13

 

ALL ABOUT CARO 2015: COMPANIES ACT 2013

Few days back the Central Government, after consultation with the ICAI ,  makes the Companies (Auditor’s Report) Order, 2015 which will be Applicable  w.e.f. FY Starting 1st April, 2015. and will be also known as ( CARO 2015 ) . Here we are trying to give you a breif knowledge of All About CARO 2015 in Summary So go through the complete article and be updated .

Applicability  Of  CARO 2015  –

Every company including a foreign company u/s 2(42) of CA, 2013.

Non-Applicability CARO 2015 –

(a) A Banking Company as defined in Section 5(c) of the Banking Regulation Act, 1949;

(b) An Insurance Company as defined under the Insurance Act, 1938;

(c) A company licensed to operate under Section 8 of the Companies Act;

(d) A One Person Company as defined u/s 2(62) of the Companies Act and a small company as defined u/s 2(85) of the Companies Act; and

(e) A Private Limited Company with a Paid up Capital and Reserves up to Rs. 50 Lakhs Loan Outstanding up to Rs. 25 Lakhs from any bank or financial institution and Turnover up to Rs. 5 crores at any point of time during the financial year.

Auditor’s report to contain matters ( CARO 2015 ) – Every report made by the auditor u/s 143 of the Companies Act, on the accounts of every company examined by him to which this Order applies for the FY w.e.f. 1st April, 2014, shall contain the matters as below.

Matters to be included in the auditor’s report – CARO 2015

(i) Fixed Assets –

·         Maintenance + Physical Verification + Discrepancy Maintenance of proper records showing full particulars, including quantitative details and situation of fixed assets;

·         Physically verified by the management at reasonable intervals;

·         If any material discrepancies on verification then, properly dealt with in the books of account;

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(ii)Inventory –

Maintenance + Physical Verification + Procedures + Discrepancy Maintenance of proper records showing full particulars, including quantitative details; Physical verification of inventory at reasonable intervals by the management; Procedures of physical verification followed by the management reasonable and adequate in relation to the size of the company and the nature of its business. If procedure inadequate it should be reported; If any material discrepancies on verification then, properly dealt with in the books of account;

(iii) Loans Given –

Granted + Repayment + Recovery Granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained u/s 189 of the Companies Act; Receipt of the Principal amount and Interest are also regular; and If overdue amount is more than rupees one lakh, whether reasonable steps have been taken by the company for recovery of the principal and interest;

(iv) Internal Control System –

Adequate ICS + Weakness in ICS Adequate internal control system(ICS) commensurate with the size of the company and the nature of its business, ICS for the purchase of inventory and fixed assets and for the sale of goods and services. Report on continuing failure to correct major weaknesses in ICS.

(V) Accept Deposits – RBI Directions Compliances + Order of CLB/NCTL/RBI/Court CompliancesAccepted Deposits as per direction by RBI and u/s 73 to 76 or any other relevant provisions of the Companies Act and the rules complied with; If not complied, the nature of contraventions should be stated; If an order has been passed by CLB or NCLT or RBI or any court or any other tribunal, whether the same has been complied with or not?

(vi) Cost Records –

Maintenance as specified by CG Maintenance of cost records has been specified by the Central Government u/s 148(1) of the Companies Act; Whether such accounts and records have been made and maintained;

(vii) Statutory Dues –

Depositing Regularly + O/s 6 months reported + Amount & Forum mentioned + Transfer to IEPF Regular in depositing undisputed statutory dues including PF, ESI, income-tax, sales-tax, wealth tax, service tax, duty of customs, duty of excise, value added tax, cess and any other statutory dues with the appropriate authorities; If the arrears of O/s statutory dues as at the last day of the FY concerned for a period of more than six months from the date they became payable, shall be indicated; In case dues of taxes or cess have not been deposited on account of any dispute – Amount involved and the forum where dispute is pending shall be mentioned; (A mere representation to the concerned Department shall not constitute a dispute) Amount transferred to investor education and protection fund in accordance with the relevant provisions of the Companies Act, and rules within time.

(viii) Accumulated Losses –

Reg. 5 yrs Co. + Acc. Losses min. 50% of Net Worth + Cash Losses in FY and Preceding FY Company which has been registered for a period not less than five years – its accumulated losses at the end of the FY are not less than 50% of its net worth; and Whether it has incurred cash losses in such FY and in the immediately preceding FY;

(ix) Repayment Defaults –

To Bank/FI/Debenture holders + Report-Period & Amount Defaulted in repayment of dues to a financial institution or bank or debenture holders; The period and amount of default to be reported.

(x) Guarantee Given –

Loan taken by others + T&C are not prejudicial Given any guarantee for loans taken by others from bank or financial institutions; Terms and conditions are prejudicial to the interest of the company.

(xi) Term Loans –

Applied for Purpose Term loans were applied for the purpose for which the loans were obtained;

(xii) Fraud –

On/By Company + Report-Nature & Amount Whether any fraud on or by the company has been noticed or reported during the year; The nature and amount involved is to be indicated.

Reasons to be stated for unfavorable or qualified answers.-

·         Where, in the auditor’s report, the answer to any of the questions referred above is unfavorable or qualified,

·         the auditor’s report shall also state the reasons. Where the auditor is unable to express any opinion in answer to a particular question,

·         his report shall indicate such fact together with the reasons why it is not possible for him to give an answer to such question.

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Thanks for reading this article on CARO 2015

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Written by: CA GROUPS

FIVE STATEMENTS BY CELEBRITIES THAT WILL MAKE YOU PROUD OF DOING CA

FIVE STATEMENTS BY CELEBRITIES THAT WILL MAKE YOU PROUD OF DOING CA

 

As we said in past ” CA bas naam hi kaafi h ” . this time we will going to prove why this course is prestigious one . here are the 5 statements by celebrities that will make you Proud of Doing CA .

 

RAHUL DRAVID :-

You know what The Wall has decided to do CA and after opening the first book look what he has said.

I was poor at maths so I chose commerce and in second year of Bcom, I decided to do CA in case cricket didn’t work out. After Opening the first book, I doubled my efforts in Cricket

 

ARUN JAITELY ( FINANCE MINISTER OF INDIA )  :-

Duniya me do cheez bohat mushkil
hai…..
Ek to CA me Pass hona.. And.. Dusra LLB me Fail hona..

 

Watch the video Below for the proof.

NARENDRA MODI ( PM OF INDIA)  :-

He keeps on praising our fertinity before and after becoming the Prime minister also

Even PM of India  makes us proud on CA Day last year by Saying we have a crucial role to play in India’s progress.

 

RATAN TATA :-

A statement by Ratan Tata in ET
“I need MBA’s to run my business but i need CA’s to teach MBA’s how to run the business.!!

 

 

AKSHAY KUMAR :-

Akshay Kumar is asked about his success in financial terms in one of the award functions. And then he said its all because of my chartered Accountant , adding to this he said , If your chartered accountant is happy then you are also supposed to happy

 

Keep Visiting for more such Updates.

Written By : SOURAV BAGARIA

 

Also see :- 10 Things to remember before giving CA Exams

 

Must share with your freinds and you can also submit your list on cagroups4all@gmail.com we will share with our fans with your name …

Disclaimer : If a person copies this article without giving any credit will be liable of punishment under copyright act , as this article is copyrighted content in the name of CA GROUPS

FIVE REASONS WHY CA IS BETTER THAN ANY OTHER COURSE

FIVE REASONS WHY CA IS BETTER THAN ANY OTHER COURSE

[MUST READ N SHARE]

As we all know CA’s are the king of financial world. Today we are going to tell u the reason why CA is better den any other professional course..Many of you are having doubt about the prestige of this course because of one or another reason. But as per my experience the respect you get after getting that CA Prefix before your name is very Special. Don’t go after the profession which earns you more money, Go for respect. I become CA after clearing CA in May 2012 and thereafter my life has changed completely. Now I am amongst the 3 lac chartered accountants in India. Now people start addressing me as CA Sahab instead of Bagaria Sahab (That they used to call me earlier).

1. WHY CA IS BETTER THAN CS , CWA :

Although CS , CWA are meant equivalent to CAs but in term of opportunities CAs are way ahead . From Tax audits to Stat Audits. CAs have sole right to perform these compliances, Besides this there are many other services for which industries relies only On CAs.

The INCOME TAX ACT, 1961 says that AUDIT can only b done by… ONLY CAs!!!
Not by chote bhai(CWA),
Not choti behen(CS),
Not kale kottwale(LAWYERS),
Not by Lutte-pitte MBA’S…
ONLY CA’S.
MIND IT!!!.

2. WHY CA IS BETTER THAN MBA ?

For this only statement of Ratan tata is Enough :- A statement by Ratan Tata in ET “I need MBA’s to run my business but i need CA’s to teach MBA’s how to run the business.!!

Same as the case in engineering  If you spear IIMs . MBAs will only manage marketing jobs. MBAs are good in expressing themselves and they are thought only this during the course. ICAI has started many trainings only to cop up with this advantage

3. WHY CA IS BETTER THAN B TECH. :-

Although there is no match between CA and Engineers still some believe that engineers are more superior. If you keep aside IITians and some other prestigious colleges, After spending lakhs in B Tech, Engineers are not getting even a 10000 rs per month Job I have seen many live examples of that.

 

 

4. WHY CA IS BETTER THAN LLB ?

Though some of lawyer are earning in crores but still there is very less scope for any young aspirant unless his father has  a well Established Practise.

And LLB is also much easier than CA . Same has been said by our finance minister

Duniya me do cheez bohat mushkil
hai…..
Ek to CA me Pass hona.. And.. Dusra LLB me Fail hona..

Watch the video Below for the proof.

5. WHY CA IS BETTER THAN ANY OTHER COURSE ? 

No reservation : 

For ICAI all are equals

 

Our Profession Always Taker of growth of our clients. If talk about Doctor he will be happy if his patient got some disease and lawyer will be happy if his client faces some dispute . We prays for growth of our client so that we got more and more work from him.

Hope you also  like  5 statements by celebrities that will make you Proud of Doing CA

 Keep Visiting for more such Updates.

Written By : CA GROUPS

Also see :- 10 Things to remember before giving CA Exams

 

Must share with your friends and you can also submit your list on cagroups4all@gmail.com we will share with our fans with your name …

Thank you !!