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Life As A CA student



Hi, This one is to let everyone know how does life become when you start doing CA – one of the toughest courses ever.

If you are reading this, let me first welcome you aboard to this journey of the business corporate world. You should be proud of yourself because you have chosen to do one of the most difficult professions ever. It is going to be a journey of a roller coaster, full of ups and downs and awesome weird experiences and memories. To everyone who is just entering in articleship stage, Congratulations on clearing your IPCC exams and moving forward to the next important step – Articleship. And to others who have already been through this – I am sure you will be able to relate your three years of articleship to this article.
Articleship – the cheapest form of labour but the best learning experience. I am not being sarcastic here. It definitely does not pay you much. But let me clarify, you gain an invaluable amount of experience which is going to help you a lot in your future career endeavours.

As per the ICAI rules, you have to undergo articleship training for a period of 3 years. On completion of 2.5 years, you are eligible to give your CA final exam. In this 3 years, you will be allowed to take a leave of 1/6th period of your articleship meaning a, 156 days in your 3 years. Now a, 156 days will initially sound really good, but as and when you start working and you reach your final year you will realize that even 156 days is not enough leave to study for your CA final exams. So keeping a buffer of 120 days aside as your study leave , you have only around 36 days leave – 12 days leave a year, mind you be very careful when you opt for official leaves, because it’s going to come back and haunt you when you need to apply leave for your CA final exam.

Initially, when you will join your articleship, it’s going to be very exciting. New job, new clients, new work, new friends, too much to learn and an amazing journey waiting ahead. You are just beginning your steps in the ladder. You are just at the starting point of this journey. Irrespective of what field you choose – audit or tax – both are going to be a tough journey ahead. Right from your taxation due dates to statutory audit completion dates to internal audit reports presentation – each one will be an enriching experience. Your first year will pretty much be spent in exploring all areas. You will be curious about how things work. There will be a thirst for knowledge. A dedication and willingness to work. And most people treating you like a junior. Teaching you things along the way. I will use the word most and not all, because not everyone will treat you that way. Yes, they will teach you things but like a colleague. No junior-senior concept applicable. You are responsible for what you do – the end. A first-year article spends most of his/her time in vouching as per checklists. And yes it might be boring and redundant work but you can still find out really strong audit points from vouching as well – No approvals, non-adherence to Standard Operating procedures, verbal approvals, non-adherence to contracts and agreements, no procurement procedures followed, no tax deductions, incorrect accounting treatment, budgets exceeded etc. to everyone who thinks that no queries can be found in vouching – you have an opportunity to prove them wrong. You will see the way reviews are conducted. How there will be a lot of praise to a lot of disgrace. The atmosphere on the review day. Full of pressure and people handling all kinds of work and multitasking to finish and keep everything ready for the review. There will be an adrenaline rush of deadline completion. And when the same is done, the happiness you will achieve from the completion of the same. You just have to experience it. You will learn talking to clients. There will be all kinds of clients – some being just normal, some being friendly, some being hostile. Getting that required data and responses on queries will always be a task to which you will have to deal with very smartly. Write it in email conversations – all your data requirements and client responses, so that you are always safe on your side when something goes wrong. And keep your boss in CC – Always. They will be coming to your rescue ultimately.

Come second, year and you will be now a grown up. But first, do not hesitate to put that email of stipend increase. You deserve that Boss. It’s your rightful right to claim that. By now you will be pretty much aware, about how each team leader functions. How everyone wants things to be done in a particular way. You will be given more responsibilities – probably also allocated with a junior article under your training. You will be having a good amount of training now. This will be a time when you will start deciding about your CA final classes. What classes to join, weekend / daily batch to join. From when to join. Do a lot of research when you opt for classes. Because they will help you in your exams. However, don’t be under the impression that classes will be beneficial. They will not unless you choose to study yourself and keep getting updated on a regular basis.

By now you are going to be used to late sittings. Those checking the clock after every 30 min days. Family calling and asking up ‘beta ghar kab take aaogee. Koi Hai bhi ya nahi saath me tumhare. Zyada late hot oh train se mat aana. Cab karake aa jana’ days And especially if you stay far off from you client place. It still will be fun when you have an amazing audit team with all kinds of teammates. The always serious one, the most talkative one, the always hungry one, the always WhatsApp busy one etc. Your audit team will be your family. They will stay through each and every stage of that audit – the initial time pass stage, the too much work to do stage, the review stage, the talking to client stage, the meetings with CFO Stage and the signing stage. At the end, you are going to emerge as a different changed and stronger person than you were. You will come up with all kinds of excuses to take leaves. Most of it which will be disapproved but then that will be a major motivation to think of more creative reasons.

Come your final year of articleship and you will be feeling a total grown up. By now you will have done all major areas. You will be well versed with all various kinds of things. You will be given more responsibility. More power. With great power comes great responsibility – true that. I remember in my case, my boss handled an entire audit on my name. That taught me various things. Leadership abilities, working together as a team, getting things done from everyone, talking confidently to higher level management people. I remember initially it used to be a bit scary and nervous when you have to face a senior level person.

But as you keep working on and when you know you have done nothing wrong, you automatically get that level of confidence to stand up and smile and get the meetings done. Your final year, you will be a bit tensed about your exams. You will have to be starting your exam preparations, planning on how to go about completing all those 8 subjects. You will be blaming on why you have that ISCA subject, cursing that subject to the core. This is an important period to carefully decide on your final preparations. Believe me, you will have to learn to prioritize your work and friends and your studies. Just a matter of one year of working too hard. I am not saying to quit meeting your friends, however just learn to manage it. Time management is going to be very very important and you will have to learn to deal with it.

All the above was extremely work related. Office related. Let me tell you about other aspects of it as well. On this fruitful journey of yours, you will make a lot of new friends rather lots of new CA friends. You will join LinkedIn and even grow your professional network, you will learn networking, build some new contacts, nurturing professional relationships and increase your connections. But in this process, you will also be losing up on a lot of old friends. Especially if you have been a very social person, people will come and complain to you that you don’t have time for them. You will grow apart from certain people. Rather now will be a time when you will realize who are the people who actually truly understand you. Because your genuine friends will understand your work priorities. Yes, they might complain once, out of concern for you, but they won’t keep nagging you over the same thing again and again. You will be rude to certain people. You are going to have to. Because it will be difficult to manage them all. You are going to have to explain to them that talking frequently is not important, just know that you would be there for them if and when they need you.

Getting into relationships will be difficult. Finding a partner who will understand your situation completely will be a task. Because he/she may not like it if you prioritize your work over them. And there will be many situations when you will have to make that decision. The choice of work over them. But not all relationships are screwed up. Knowing that you have someone will always be a motivation for you. That all depends on your luck and how strong the relationship exists. Your social life might get a bit slowed down. No more late night outs, no more hangover parties. I remember an incident once where I gave a review to my boss on a very bad hangover and I cursed myself for it later. There will be certain days when work will screw you up. You will be fucked up. You will want to give up.

And that willl happen on many bad days. But remember you have reached this far and it is just a matter of few certain days. Life is a roller coaster so you are going to have good and bad days. Do not give up. You have come too far now. It is just one more exam , one more level . You are going to be fine . You will be. Talk to your colleagues when you have such feelings. Keep aside a day when you want to cry it all out. Don’t let that get into your head and make you do stupid things. Talk to your siblings , to your family. They are always going to support you. They will be there with you till the end of it. You will crack this too. You are a strong person. You are fighter. Don’t be scared. Its just a phase of life , it will pass as well too. You will be happy on days when you get amazing apperciations from senior level people. Just remember that you have what it takes and that is why you had chosen to enter this profession.

In the end when you will be done with your exams and serving your last few days of articleship , you are going to miss every bit of this. All memories good and bad. You will now be entering the corporate world with the two letters CA in front of your name. each day , every bit of it will all be worth in the end. It’s the happiest feeling of your life when all that struggle of yours will be leading to successful results. And yes not everyone clears CA final in the first attempt. Only 2 to 7% people from the entire country achieve that. But we are not quitters , are we? No we are not. We are not going to give up on this. That CA was ypur dream and you are going to achieve it and fulfil it. And when all your dreams come true , it is going to be an end to a memorable journey.

All the best to all articles who are reading this. Everyone who is in their final years rock that exam. You can do this. To new articles – Welcome aboard again. You will be reaching your destination in 3 years. Hope you have a pleasant jouney with less turbulences on the way. And to all new CAs – hope you have an amazing work journey in your life ahead. All the best everyone.

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Ram Mandir Opening For “Darshan” In 2023



Ram Mandir Opening 2023 | News Aur Chai

The Ram Mandir in Ayodhya is expected to allow visitors by December 2023, with the completion of construction only in 2025.

Sources in the Shri Ram Janmabhoomi Teerth Kshetra have revealed that the colossal project of building the Ram Mandir in Ayodhya, Uttar Pradesh, will be opening for devotees towards the end of 2023. In contrast, the project’s entire construction completion is expected towards the end of 2025. The sanctum sanctorum (Garbha Griha), along with the mandir’s first floor, will be ready by December 2023. Devotees will be allowed to visit the long-awaited mandir soon after the construction is completed.

An ANI report said, “The grand Ram Mandir being constructed in Ayodhya will be opened for devotees from December 2023. Sources told ANI that Garbhagriha, all five mandaps and the first floor will be ready by December 2023 and the mandir will be opened for devotees”.

The sanctum sanctorum will be as high as 161 feet and built using Rajasthani marble and stones. Engineers and architects are taking all measures to ensure the longevity of this enormous project. The second stage of construction is expected to begin in December this year. Currently, the structure is at a standstill as a result of monsoons. Another reason for the delay is the coronavirus pandemic that depleted the force with which the mandir’s construction was expected to go on.

The announcement of the mandir being opened to visitors in 2023 has brought up questions about the political agenda. It is believed that the Bharatiya Janata Party (BJP) aims to use the mandir to catapult themselves into a position of advantage during the 2024 Lok Sabha elections. Opening the mandir to devotees in December 2023 will give the BJP an easy 6-month gap to the general elections in 2024.

The opening of the long-awaited Ram Mandir in Ayodhya could be the factor that diverts the public, at least the Hindu’s in favour of BJP. Thus, securing them a vote bank based on religious sentiments upheld by the party in their previous tenure as the ruling party.

The Ram Janmabhoomi Mandir will be 360 feet long, 235 feet wide, and 20 feet high mandir will be completely ready by the end of 2025. The project will include amenities and structures like museums, archives, research centre, Sant Niwas, gau and Yagya shala, Etc. The main attraction is the Ram Mandir.

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How SEBI’s New Margin Rule Is Affecting Retail Traders?



SEBI Margin Rule | News Aur Chai

Securities and Exchange Board of India has introduced new margin rules for traders. Traders and Brokers are not happy with the new regulations because they will have to invest a large amount of cash in fulfilling margin requirements for trade.

SEBI had introduced the new margin rule in the year 2020 for intraday traders. It is being implemented in a phased manner. Traders were supposed to maintain 25 per cent of the peak margin in the first phase; the margin was raised by 50 per cent in the second phase. In the third phase, as per the new margin rule, intraday traders will have to pay a 100 per cent upfront margin. According to new norms, the margin requirements will be calculated four times during every trading session because the money margin must be greater than the need.

As per the new rule, brokers must collect margin from investors for any purchase or sale, and if they fail to do so, they will have to pay the penalty. Thus, brokers will not receive power of attorney. Brokers cannot use power of attorney for pledging anymore.

Those investors who want to make use of margin will have to create margin pledges separately. As per the new rule, investors will have to pay at least a 30 per cent margin upfront to avail a margin loan. Shares brought today cannot be sold tomorrow. Funds from shares sold today cannot be used for new trades on the same day.

The market experts said that there must be proper adjustments for implementing new rules, or it may create chaos, trouble and disturbance to the market participants. The CEO and founder of Zerodha broking firm, Nithin Kamath tweeted that, “the day when the new rules came into effect was the dreaded day for brokers, exchanges, intraday traders”.

Traders Are Not Happy:

Changes in rules have evoked strong reactions from traders because they will have to invest a large amount of cash in fulfilling margin requirements for trades as per new margin rules. Even the trading in futures and options will become more expensive. Traders are disappointed because they will have to pay up more money to bet in stock markets. As per new margin rules, Traders are also liable for the penalty if the rules are not followed during the trading session. If a trader wants to buy Nifty worth Rs 10 lakh, he will have to pay a 20 per cent margin of around 2 lakh. If the margin of the trader does not meet the need, he will be penalized. Traders will have to pay the minimum amount for opening the Multilateral Trading facility account, and they have to maintain a minor balance at all times.

Why Gas SEBI Introduced A New Margin Rule?

SEBI has introduced new rules to protect retail investors from purchasing difficulty. The intended goal of SEBI behind new margin rules is to bring down the difficult market situation and avoid huge fluctuation in stock markets during extreme stress. The new margin rules are likely to bring transparency to the market; it is expected to strengthen the market’s safety.

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Keanu Reeves Returns with “The Matrix Resurrection”



Matrix Resurrections 2021 | News Aur Chai

The expectation of the unexpected fourth instalment of The Matrix Resurrections in the sci-fi establishment has started with another banner prodding the arrival of its first trailer.

The film Matrix 4 comes out 18-years after The Matrix Revolutions. It is planning to be the last film in a trilogy reporting the transformation of Computer programmer Thomas Anderson into cybercriminal Neo. As he finds the conventional world, he occupies a recreated reality.

Loosening up the expectation, with a special promotional. It highlights red and blue pills sit next to each other underneath the clear message: ‘The Choice is yours.’ Fans of the famous establishment will perceive the pills as a definitive choice given to Neo, played by Keanu Reeves, as he picks between life in the conflict assaulted real world or the ‘beautiful prison’ of a substitute reality. Penetrating static fills in as the scenery, as small strings of Matrix code has seen falling inside the pills before the whole scene liquefies.

Fans can proceed with their adventure on, an intelligent pick your-own-experience style site. Given a similar decision there, red brings you down a rabbit hole where you’re told: ‘This is the moment for you to show us what’s real.’ Then scenes from the film teaser, showing the slight hindrance between the natural world and the fake world known as The Matrix. One of the Best Scenes is Reeves’ Neo gulping a blue pill while a lot more seasoned, a balder man shows up in his appearance.

The scenes reviewed rely upon which pill selection and each emphasis on the decision made. The Red Pill requests that the watcher go further into the reality behind the Matrix. While the Blue Pill cautions them to avoid it again so as not to agitate the norm and welcome undesirable risk.

Still, the viewer’s decision makes, in any case, every secret seems to end with a brief look at Keanu Reeves as Neo, with different eyes. He either collaborates with characters who could be his partners in the film or plans to fight against its expected scalawags, be they Agents, pernicious projects, or even people.

The person who clicks on the blue pill will hear Harris’s voiceover saying: “You’ve lost your capacity to discern reality from fiction.” Before encouraging the viewer to embrace that their situation is genuine. At the current time, streaks on the screen, and Harris peruses it, saying, “anything else is your mind playing tricks on you.” By contrast, ones’ who click on the red pill hear Abdul-Mateen’s voice revealing to them that while they trust it’s the current time — once more. With Abdul-Mateen perusing the time out loud — “that couldn’t be further from the truth.” Regardless, a progression of quick-cut shots from “Revivals” streaks on the screen during the two situations. As each time a viewer taps on a pill, the recording changes.

‘This could be this is the first day of the rest of your life, but if you want it, you gotta fight for it.’ The portrayal wraps while showing star Keanu Reeves prepared to battle. Then, at that point, finishing on a vile note, they show somebody contacting the PC port at the rear of their head and inquire: ‘We don’t want anyone to get hurt, do we?’

From visionary movie producer Lana Wachowski. The new film reunites unique stars Keanu Reeves and Carrie-Anne Moss as Neo and Trinity, the infamous roles they made well known.’ The first Matrix film in 1999 met with much essential acclaim upon its introduction. The element is following up by two other movies, which were both delivered in 2003. Warner Bros. uncovered the title for the fourth Matrix film during its CinemaCon board. The Matrix Resurrections will release on December 22, 2021.

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