As I entered she asked me to sit. She started with asking my roll no. DOB and verified my photo. Then she asked about Libya issues.
Que: Do you know about Libya Issue. Is it fair that NATO forces entered into Libyan territory.
Ans:Yes mam i know about that and definitely it’s an intervention but it should be looked in the shadow of resolution passed by UN. When we looks it from that point of view it looks justified. As UN is a democratic organization. It has said in its resolution to do whatever possible to restore Human rights there, and it is said in diplomatic language having crude meaning of doing attacks.
Que: So it means that use of US not violating Human Rights there.
Ans:Yes mam both US and Gaddafi are violating Human rights.
Passed to the next member:
Que: You have opted for Pali Literature; Do you have any idea of Sangam Literature? Ans: Sorry Sir
Que: In a manufacturing concern how I can make balance of payment? Ans: Sir, Payments are shown in Dr. side
Que: I am asking balance of payment, not payment!
Ans: Sorry sir, I got it as payments. In that case expenses are shown in Dr. Side and incomes are shown in Cr. Side.
Que: What are your Hobbies? Ans: Net Surfing, TV Watching
Que: What do you do in TV Watching? Which serial do you follow? Ans: Balika Vadhu, Laptagang
Que: Is Jagdish (A Character) doing correct in that?
Ans: No sir, But it should be looked from other angle also where when someone gets married in his/her childhood then it may be possible to have attraction towards person other than his/her spouse.
Que: What do you do in Net Surfing?
Ans: Sir I’m active on most of social networking sites. Whenever I need some information I search it on web. Beside that I do blogging.
Que: What do you do in blogging?
Ans: I shares audit and accounts related knowledge
Que: I want to upload 50 pic. on Facebook How can I do this?
Ans: Sir you can put them on Picasa and then set a link on Facebook, other way is by doing uploading upfront on Facebook.
Que: Tell me name of few social network websites
Ans: I told 5-6 name
Passed to Next Member:
Que: So you are a CA, you must be knowing about company law
Ans: Yes Sir
Que: When I see audit report of CAG given for government concerns I found it very descriptive and detailed in comparison of a CA’s report (Usually given for limited companies). So don’t you think that auditors of a company other than government concern should be appointed by CAG ?
Ans: Sir I am not agree with this point. Because auditors are appointed by shareholders (in democratic way) whether it is government concern or other concern. CAG only advices government for appointment of auditors and government appoints auditor in the capacity of shareholder. If we gives power to appoint auditors of private companies to CAG than it will be a sort of discrimination. Further CAG makes its audit with a propriety and efficiency point of view so it’s obvious that his report is long and descriptive.
Que: I feels that CAs are influenced by their client while making their audit report!
Ans: Sorry sir but I am a CA and signed reports too. There are lot of personal responsibility on a CA while signing a Report so point of influencing doesn’t arise.
Then he told me that he is not satisfied. In reply I said sorry sir….
Que: If auditors have personal responsibility than why Satyam like cases happened?
Ans: Sir, I agree that in few cases auditors were not at par. But in consequences of that they are facing trial.
Que: What happened in Satyam case? Which Auditing company involved in that?
Ans: Sir it was Price water house coppers as auditor and ICAI have constituted a committee to investigate that matter report of which is yet to come.
Passed to next Member:
Que : What are your service preference ?
Ans: Indian Administrative Service , Indian Police Service , Indian Foreign Service and then Accounts related services ….
Que: You are a chartered accountant so you should have opted for Indian Economic Services!
Ans: Sir, I have completed my CA in the age of 22,After that I have worked for 2 and half year in
Bulgaria (Europe). During my that tenure I felt that I should do something for society and on the same time I can use my skills that I have learnt during my CA. While looking for an option that suits both condition I found Indian Administrative Service as best choice. So I choosed Indian Administrative Service as first preference.
Que: Government is changing its accounting system, do u know about that?
Ans: Yes Sir, First it was cash basis of accounting and now it’s going for accrual basis of accounting.
Que: What is accrual basis of accounting?
Ans: In which income and expenses related with certain year are accounted for ONLY in the year in which they have incurred.
Que: There are big infrastructure projects are going on. They finishes in 4-5 years so how I can do accounting for them?
Ans: Sir, These type of projects falls in contract accounting and as per institute of chartered accountants of India Accounting standard no. 7 should be used for that accounting. In that AS two methods are prescribed one is proportionate of completion method another one is estimation basis.
Que: We have Doctors , engineers with us why should we select you ?
Ans : Sir, During my tenure as CA I learnt about policy making, policy implementation, Compliance, Finding variations, reporting etc. and I feels that these tasks resembles with work of a Indian Administrative Service so I feels are I can do that better than other by adding my past experience in that.
Que: No I was expecting that you will say I will find out scams for you?
Ans: Sir I have told that I can find out variations and variations are nothing but sort of scams.
Passed to next member:
Que: What are your personal goal on life?
Ans: Sir, my personal goal on life is that when after some time I look back people should say about me that yes he is the man with moral and he has done something for society.
This is the feeling that boosts my morale.
Que: You have power with money, power without money and only money. what would you like to choose?
Ans: I asked him to repeat the question and replied power with money.
Que: Suppose you won a jackpot of Rs. one crore. What will you do? Ans: Sir at first I will celebrate.
Que: No I am asking how you will expense out them.
Ans: As amount is big I won’t be able to plan now.
He asked me that OK, can u tell me your preferences that whether you will give it to family or society or will do something for yourself?
I replied that yes sir, First I will give it to family, then society and then something for myself.
Mrs. Rajdan took the question again and asked me that how much will be the tax on it? I replied after some oral calculations as approximately 33%
She asked again that you are a CA, can’t you plan BALANCE Rs. 67 Lacs?
I said sorry mam I can’t for now. But I can tell you my preference as family, society and then for myself.
She said OK you can go…..
I thanked all members and chairman and left the room.