Indeed, it’s a very difficult question to answer, specially when such kind of questions are put up by girls.  Leaving one’s own city at a young age to pursue a career is a bold decision and therefore, requires a lot of thought.  Obviously, in addition to your views and thoughts, this also requires deliberations and discussions within the family members as well.


I have always had a very strong opinion on doing articleship, irrespective of the size of the firm.  Articleship builds a strong foundation of a chartered accountant, and good articleship experience always pay in long term.  And if the articleship is done from good firms, then the whole career progression can take a paradigm shift because good articleship experience is a key in getting your first good job.


At the time of choosing a firm for articleship, it is important that some key points are kept in mind:


1. What is the size of the firm, in terms of the number of partners, staff etc


2. What are the kind of clients – Are there more of domestic clients or international companies


3. Is there any division amongst the partners relating to work, i.e., someone takes care of tax, other takes care of audit.  Or is everyone handling everything


4. What kind of stipend is offered.  Although, at the time of articleship this question is not relevant, but sometimes one can make out the quality/standing of a firm by the amount of stipend that firms pay to its trainees


5. What are the  policies regarding giving time for study leave and attending coaching classes etc


Although, generally at the time of articleship one is needy and ready to take up articelship as soon as possible, answers to some of the above questions would nonetheless be helpful in choosing a good firm.  Even if answer to 3 questions out of the above 5 is in your favour, one should go and join that firm.


Having said the above, I don’t think there is a need for me to justify the fact that if anyone is getting articleship in a good firm, then shifting the city does make sense.  Those three years that you spend in a good firm would make your foundation very strong and there is a very high likelihood that such students get good jobs.  This is because all big organisations look for candidates who have got strong articleship experience.


It is therefore, advisable that if someone is getting an opportunity to complete articleship in a good firm, it should not let go.  However, the family considerations and discussions with parents should be done at length to make them aware of the advantages which would follow if one takes that decision.  And only after such discussions, one should take a conscious decision.


However, before taking the plunge to shift a city for articleship, you should take into account the following factors:


Cost of living


You need to factor that moving out of your home would mean incurring expenses on your stay and food etc.  It is therefore, advisable to identify the costs associated with your move so that you can take a calculated call.


One should also do a comparison of cities, for example a student studying in Jaipur or Chandigarh or Lucknow can look for Delhi or Mumbai for articleship and compare which among them would be more expensive to stay.  Since you would be going to travel to your home town, all costs of travel etc should be taken into consideration.


How will your quality of life change


One also needs to understand that every city has its own culture and people and therefore, you should be ready to adjust with that culture and those kind of people.  For example a student from Chandigarh might feel more adjusting in Delhi as compared to Mumbai and similarly, a student from Indore might be more comfortable in Mubai than in Delhi.


This factor is very important because you would be spending almost 3 years of your student life in that city and apart from studies you would be exploring the city as well.  Therefore, it is important that your non-academic interests are also aligned to the city, which eventually would make you happy.


Always identify places where student community is high


Now that you have taken a decision to stay alone from your parents, it is important that you are surrounded by people with whom you can interact, play, learn and enjoy your articleship period.  I therefore, suggest that identify your accomodation at a place where you can enjoy the most.  Enjoyment here does not mean wasting your time, but it means the place where you are mentally happy to be so that you can focus with utmost devotion on your studies.


Be ready to accept the hard life


The life of a student and that too of a chartered accountancy student is very hectic as it involves managing your time between articleship, studies and family.  When you are out of your home town, you would be expected to do a lot of things including household chores yourself and therefore, an additional stress.  Be ready to take this challenge with ease because people who have accepted this challenge have done well in their lives.


Remember what Spartan Warriors used to say:

“Those who sweat more in training, bleed less in war”


Your articleship and study period is when you would be expected to sweat more and the more you sweat there, the less you would bleed in your career.  Which means that the more seriously you take your training and studies, the more your chances to excel in life, get excellent jobs and earn handsomly.


Having said this, shifting city no doubt would also make you a stronger person as it would not only test your patience but also your time and people management skills.  You would be coming out of your comfort zone, away from parents and friends and therefore, also improve your networking skills.


So think long term…

Final Course

Corrigendum to Revisionary Test Paper for November 2014 Examination
Group-I: Paper 3-Advanced Auditing and Professional Ethics 


Students are advised to ignore Question no. 20 (a) in the CA Final Group I: Paper 3 Advanced Auditing and Professional Ethics Revisionary Test Paper as it is based on Section 177 of the Companies Act, 2013, which is not applicable for November, 2014 Examination.


Intermediate (IPC) Course students – November 2014 examination 

Paper 2: Business Laws, Ethics and Communication


Non applicability of Sections 407 to 414 of the Companies Act 2013, for the Intermediate (IPC) Examination to be held in November 2014


It is hereby informed that Sections 407 to 414 of the Companies Act, 2013 relating to NCLT and NCLAT (notified on 12th September, 2013) formed part of the syllabus of the abovementioned paper as applicable for November, 2014 examinations. Consequently, the said sections were also incorporated in, Para 1.19 of Unit 1 from Page Nos. 22 to 26 of the Supplementary Study paper prepared for the said examinations.


However, keeping in view the fact that the NCLT and NCLAT are not in operation till date, students are hereby informed that the notified Sections 407 to 414 of the Companies Act, 2013 are not applicable for Intermediate (IPC) examination, to be held in November 2014 (Paper 2: Business Laws, Ethics and Communication).


Subject: Applicable sections of the Companies Act, 2013- for Group II : Paper 6 Auditing & Assurance Intermediate (IPC) November 2014 Examination, 


Students may note that given below is the list of sections of the Companies Act, 2013 (notified on 12th Sept, 2013) which are applicable for Group II : Paper 6 Auditing & Assurance subject Intermediate (IPC) Level November 2014 Examination.


S. No. Section No of the Companies Act, 2013 Description of Section
1 39 Allotment of Securities by Company
2 51 Payment of Dividend in proportion to amount paid-up
3 70 Prohibition for buy back in certain circumstances
4 133 Central Government to Prescribe Accounting Standards
5 180 Restrictions on Powers of Board
6 181 Company to contribute to bona fide and Charitable Funds
7 182 Prohibitions and restrictions regarding political contribution
8 183 Power of board and other persons to make contribution to National Defence Fund etc.


These sections are also discussed for the convenience of the students as “Academic Update in view of Legislative Amendments in the Companies Act, 2013” in Group II : Paper 6 Auditing and Assurance Revisionary Test Paper for November 2014 Examination at following link:




New Delhi, the 10th September, 2014


No.1-CA(7)/167/2014.- The following draft of certain regulations further to amend the Chartered Accountants Regulations, 1988, which the Council of the Institute of Chartered Accountants of India proposes to make, is hereby published, as required by sub-section (3) of section 30 of the Chartered Accountants Act, 1949 (38 of 1949) for the information of all persons likely to be affected thereby; and notice is hereby given that the said draft regulation shall be taken into consideration after the expiry of a period of forty-five days from the date on which the copies of the Gazette of India, in which these draft regulations are published, are made available to the public;

Any person desiring to make any objection or suggestion in respect of the said draft regulations, may forward the same to the Council of the Institute of Chartered Accountants of India within the period so specified addressed to the Secretary, the Institute of Chartered Accountants of India, ICAI Bhawan, Indraprastha Marg, New Delhi – 110 002;

Any objection or suggestion which may be received from any person with respect to the said draft regulations before the expiry of the period so specified shall be taken into consideration by the Council.

Draft Regulations

1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2014.

(2) They shall come into force on the date of their final publication in the Official Gazette.

2. In the Chartered Accountants Regulations, 1988 (hereinafter referred to as the said regulations), in regulation 28E, in sub-regulation (1), clause (b), for the words “nine months”, the words “eight months” shall be substituted.

3. In regulation 39 of the said regulations, in sub-regulation (4), -

(a) in clause (i) for the words “rupees five hundred”, the words “rupees two thousand five hundred” shall be substituted;

(b) after clause (iii), the following proviso shall be inserted, namely:-

“Provided that where a candidate is required for the purpose of passing to obtain section-wise minimum prescribed marks, section-wise marks shall be supplied.”

4. After regulation 39 of the said regulations, the following regulation shall be inserted, namely:-

“39A. Inspection or supply of certified copy of evaluated answer book.- Inspection of an evaluated answer book or supply of a certified copy of an evaluated answer book or both in any particular paper or papers of any examination conducted under these Regulations shall be made to a candidate, in accordance with the norms as may be decided by the Council from time to time, on his submitting an application, in such manner and within such time as may be decided by the Council, along with such fee as may be fixed by the Council which shall not exceed rupees five thousand in the case of inspection of answer book and rupees eight thousand in case of supply of certified copy of evaluated answer book.”

5. In regulation 48 of the said regulations, in sub-regulation (1), for the Table, the following Table shall be substituted, namely:-

“ Table

6. In regulation 204 of the said regulations, for the words “and International Trade Laws and World Trade Organisations” the words, “International Trade Laws and World Trade Organisation and International Taxation” shall be substituted.

File No. 1-CA(7)/167 /2014




Companies Act Applicability for Ca Exams

Download this file: bos-announ 15mar14 Capture


How To Face CA Exam:


PDF File: How to Face CA Exam

Mock Test Papers – Final Course – November 2013 Series 1
Group – I
Group – II

CA Final SFM Concept & Formula Notes:


sfm notes