HOW CA IS CLOSELY RELATED TO LIFE?

HOW CA IS CLOSELY RELATED TO LIFE?

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here is how Each subject in CA well desrcibed our life
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ACCOUNTS:

AS 1 teaches you to disclose your true self and just be honest.
We know some things are out of control in life.We may not be prepared to face them. But we have to be courageous and just deal with it and accordingly adjust in life. AS 4 is all about those contingencies.
AS 26 is my favourite since it teaches us that not everything in life has to be in visible form still they are valuable and very important like faith and emotions. One must value these intangible asset they possess.
Impairment of bad ideas, thoughts and grudges is important for betterment of oneself. ‪#‎AS‬ 28
Value added statement showing distribution statement- how our parents work hard through out their life and apply their income for their parents,our better future, our education , our marriage and lastly for their own luxury.
Human resource accounting teaches you to
give importance to human relations rather than being materialistic all the time. Money can’t always buy you happiness but spending quality time with your siblings or friends can.
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STRATEGIC FINANCIAL MANAGEMENT:

Just like in SFM, in real life also VALUE = Expectations/ Performance .
Capital budgeting teaches you it’s not always good to invest your time in something. Do it only if it’s worthy. Also evaluate all possible alternatives before coming to conclusion.
However there is no firm/fixed method to decide and it all depends on perspective and expectations.
Speculation teaches you more the risk, more are the “chances of profit” but there is no such guarantee. True almost in every phase of life.
Nothing can ‘guarantee’ you a happy life.
Merger and acquisition teaches it’s not always a good option to accept a marriage proposal.
You must evaluate whether it is viable option to merge or not ? It might be the case where one party may end up having gain at the cost of loss of another one.
In short it makes you a better decision maker.
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AUDITING:

Code of ethics teaches you must always have your own principles and values which you are always going to follow in your life no matter what.
Its also good to have a “life audit” once in a while when you feel stuck. Look at your past , prepare a report what went wrong .You know you can’t change it but you can always use it for future references. Doing a life audit can save you from insanity.
Auditing your own thoughts, your friend circle, your own mistakes is always a good idea and it is step towards betterment.
The concept of materiality is also important in life. Not everything deserves your attention.
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CORPORATE AND ALLIED LAW:

Corporate Law teaches you related parties can become a headache if they are too much involved in your affairs.
Also voluntary winding up of affairs is a good option if disputes do not get settled through dispute resolution mechanism but informing
Those Charged With Governance is also important.
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ADVANCED MANAGEMENT ACCOUNTING:

Needless to say the learning curve concept is true in almost every thing in life. The harder and more you work, the more expertise you gain in that field . The time consumption is also less , be it cooking or teaching. The budgetary control teaches you to manage your finances well.
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INFORMATION SYSTEM CONTROL AND AUDIT:

ISCA the blend of information technology and audit meant for teaching how IT plays an important role in auditing procedures teaches how important are some people in our life. Its difficult to imagine our life without them. We can survive without them but our lives won’t be the same .
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DIRECT TAX LAWS:

The basic exemption limit in Income tax
teaches one should always give certain amount of freedom to their kids, their actions and their thoughts. The increase in BEL with age limit teaches you that after they reach adolescence you have to be more liberal and see things
from their perspective too.
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INDIRECT TAX LAWS:

The various case laws come up because of difference in interpretation of things. You may see something from one angle which the other one hasn’t even thought about.
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Yes choosing CA allowed me to look at life from a different perspective and made me a better person. The 5 years course makes us a completely different person because CA is so closely related to life and relationships.
Credit Neha Agarwal
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