Sulabh Newatia is graduate from SRCC, completed his articleship from Sanjay P Agarwal & Associates, CA (AIR 6 CA Finals), CS (AIR 19 Finals, 6 Inter), CFA L 2 Candidate
1) Among the manifold career choices, what made you opt for CA at that point of time? In retrospect, how would you reflect on your decision?
Well I am a part of a family in which there are a number of CA’s including my father, so CA was a career option that I always had in mind. When I was in class 10, my school ( Don Bosco School, Liluah) had organized a career guidance programme in which the speaker had taken sessions on all the career choices available across different streams. The speaker said that CA is one of the most challenging courses in the world with a very minimal passing ratio. I felt like taking up that challenge and so decided to take up commerce in my class 11 so that I could pursue CA.
Now after passing the course with flying colours I am very satisfied with my decision. Getting through all the levels in the very first attempt along with a decent article-ship exposure has provided me with an opportunity to choose among a wide range of avenues like banking, industrial finance, consultancy, audit, tax etc and along with them an option to set up my own practice.
2) What were the key aspects of your CA exam preparation strategy, both for the written test as well as the personal interviews that follow?
For accomplishing any task the main factors to be kept in mind are:-
· A comprehensive plan.
· Proper execution of the plan.
· Constant review of the plan and its execution.
Preparation strategy for the written exam :-
I had a proper plan in place from the day I started my studies for the CA final exams. In a nutshell, the plan was to complete going through the entire curriculum once 3 months before the exams and then undertake 3 revisions of the exam during the last three months. The time per subject for the last revision was 2 days so that I could complete the entire syllabus within 1.5 days during the exams.
I tried to get all my concepts crystal clear in my first reading of the curriculum even if took more time than planned because that saved a lot of time when I was revising the subjects.
I had also practiced writing a few papers and reading my own answers so that I knew where I needed to improve as far as my presentation on the paper was concerned because no matter how knowledgeable you are the examiner only reads what you have jotted down on the answer sheet.
Preparation strategy for the interview :-
As far as technical knowledge is concerned the preparation of various interviews vary according to the role offered by the organization.
However, the few common areas of preparation for every interview was:-
· The learning during the article-ship.
· Knowledge of accounting standards, few decision making related theories NPV, IRR’s etc.
· Few business related case studies.
· Knowledge of current affairs.
· Knowledge of oneself and one’s surroundings (Strengths, weakness, about family, why CA etc.
· I tried practicing speaking a few answers in front of the mirror so that I could check my body language and make the necessary improvements.
3) How does the CA course life transform an individual?
CA course is a long one indeed. Even when every level of the course is completed in one go and without any delays it consumes around 4-5 years of a students life.
Completing the course successfully is a challenge and in the process, teaches a lot of lessons.
Few of them are enumerated below:-
To manage time effectively.
To become a multi-tasker.
Have the confidence to accept every challenge in life and fight it out successfully.
You understand that others might be more intelligent is grasping lessons but you can easily win the race by your hard work because no one can beat you in that.
A nice job in hand as soon as you pass the course or else become an entrepreneur by having you own practice.
Huge amount of respect from the society.
4) In your view, what are factors a student must carefully consider before deciding to embark on the CA journey? (Aptitude, career aspirations etc.)
There are a lot of things in mind to be taken care of before joining any career because it becomes very difficult to reverse a decision once taken.
Its very important to know what are the financial needs of undertaking a course, what are the avenues available, what are the future growth prospects of the course, what is the duration of the course and whether the skill sets required to accomplish the course is in accordance with your aptitude.
Few points to be noted by students are:-
· CA as a course is a very challenging one and will take at least 4-5 years to be completed successfully. One needs to be ready to persevere for the entire duration else the student might find himself/herself depressed in the middle.
· CA as a course needs a logical bend of mind. Just mugging up the subjects won’t help.
· The syllabus is vast and the course requires a lot of time management to be done, whether managing the college along with the CA Inter preparations or CA final preparations along with article-ship.
· The few of the avenues available for a CA in general are Audits, Taxation, Corporate Finance, Consultancy, Banking, Self-practise. A CA knows how to manage the funds optimally so a CA can also plan a business venture of his own.
6) In a nutshell, what would be your advice to future CA aspirants?
My advice to all the CA’s aspirants is to firstly trust the institute and the course. There is always a lot of debate going around between the supremacy of CA and other related courses but be rest assured that CA is one of the best courses to pursue in the world. CA as a course provides a comprehensive knowledge of lot of areas whether it is accountancy, auditing, financial management etc. Try and link it with the practical aspects as much as possible.
Have a knowledge of what is going on in the surroundings, read financial newspapers, on occasions try to go through the annual reports of various companies and link it with the concepts taught in the curriculum.
The article-ship experience counts a lot. Do it diligently.
Have a proper plan in place and study on a regular basis.
Finally, just keep on motivating yourself and pushing yourself harder.
All the best 😊
You can connect at https://in.linkedin.com/in/sulabh-newatia-92294161