Willis Mumbai- Hiring for Chartered Accountants (0 to 3 Years exp)

Job Description
CA freshers with good communications skills can also apply.
Job location- Thane
Shifts: 2:30 to 10:30 pm
Centralized pick up drops provided.

The job entails servicing responsibility for a portfolio of captive insurance clients and the provision of technical insurance support across the team. There is also the opportunity to get involved in our captive consulting and new business activity. Primary responsibilities include:
Preparation of financial statements as well as client financial and management accounting
Managing and over-seeing regulatory and compliance issues
Preparation of Board Packs and client bench-marking analysis
Reviewing new client's business operations and work with the team that implements solutions
Responding to and following up on queries by the captive account-holders
Maintenance and development of various management information reports
Key activities in the job include:
Preparation of Trial Balance, Income statement and Balance Sheet for Captive Insurance clients.
Planning and carrying out different accounting and financial activities like budgeting, forecasting, investment reconciliations, cash flow statement & bank account reconciliation
Update notes to accounts, if and when required.
Calculating the unearned / un-expensed reinsurance reserve
Calculating the Allocated Investment Income
Posting reconciliation and review of balances
Preparing management, statutory and regulatory reports
Monitoring the shareholder/Inter-company loans as per the respective state laws.
Monitor and report on activities and provide relevant management information.
Be system proficient with hands on experience on MS Office applications.
Liaise and attend meetings with other company functions necessary to perform duties and organizational development.

Source: Naukri.com
For More Details Click Here.

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Translational Health Science And Technology Institute (THSTI) - Vacancy for CA in Gurgaon


Management Assistant(Finance & Accounts) - One position

Translational Health Science and Technology Institute (THSTI) is an autonomous Institute
of the Department of Biotechnology under the Ministry of Science and Technology, Govt. of
India. THSTI is developed as a part of the interdisciplinary NCR Biotech Science Cluster to be
located at Faridabad, in the National Capital Region. THSTI is designed to be a dynamic,
interactive organization with a mission to conduct innovative translational research and to
develop research collaborations across disciplines and professions to translate concepts
into tangible products to improve human health. The interim laboratories of the centre are
functioning from Gurgaon in Haryana. 

For More Details Click Here.

Life Of A Fauji: Lessons for Chartered Accountants

Recently I watched a very old TV serial –‘Fauji’ starring Shahrukh Khan.  A lot of you perhaps wont even know that Shahrukh Khan started his career acting in TV serials and then went to the Bollywood.  This serial was based on the training of an Indian Army commando and how they learn to be so disciplined in their work. It was awesome to watch that serial again.  

Some of my distant family members are also in Army and whilst I was watching the serial, I could feel how they are actually like the TV characters shown in the serial, highly disciplined, highly respectful to their seniors and people who can create anything out of nowhere, only because of the training they undergo and their grit and determination. 

Watching them get trained made my thought of getting a solid training all the more important, be it army or chartered accountancy and how a good training can provide you a sense of purpose in life.  With that sense of purpose gets combined their “grit, determination and passion” which leads to exemplary results.  Remember – “The purpose of life should be a life of purpose”.  If there is no purpose of your life, there is no life for you because behaving and acting aimlessly is a punishment to yourself and to your large untapped potential that can create wonders. 

I have talked in my previous articles the importance of articleship for a chartered accountancy student and how a good articleship exposure can lead to great results for your career.  The Army people are trained to be obedient to their senior, they are trained to follow the rules no matter what, they are trained to be disciplined in life, they are trained to work in teams and ultimately they are trained to enjoy their life in whatever conditions of life they are in.  And this training goes a long way in shaping their future career and life as a whole.

Similarly, the training opportunity given by our Institute to young aspiring chartered accountancy students by way of articleship should be taken as an opportunity to learn, work hard and grow in your profession.  Army teaches us a lot of things.  It teaches how to work hard, it teaches us how to work in teams, it teaches us how to respect your seniors, it teaches us the importance of team building and respect of co-workers.  As young aspiring chartered accountants, we should learn these tactics well and implement them with true spirit, because these habits and virtues would go a long way in shaping your career.

Be disciplined by reaching office or client’s place on time, be extremely hard working by taking up assignments from your seniors proactively and working hard to finish them, be resilient in your approach by taking up challenging jobs that tests your gut and intellect, be a great team worker by respecting your seniors and peers at work, be highly respectful to your seniors because ultimately they are helping you learn and grow, be a smart worker by doing jobs in the most effective manner, be proactive in your approach and at the end, be the best person in your field.  Let no other person you know be better than you and that’s precisely what the army also teaches their officers.  Be so good that the enemy is unable to defeat you.  Similarly, we as chartered accountants should be so good in our work that no other professional should be able to match our professionalism, work ethics and caliber.

The other thing that was shown in the serial about the Army jawaans and officers is the habit of time management.  And the only reason why everyone in the Army is able to manage their time well is because they don’t procrastinate.  Procrastination, or the habit of delaying things to the future is a very common phenomenon and majority of us believe in procrastinating things to the future.  This actually starts as a casual habit and ultimately leads to a disease.  Once we develop this habit, it becomes very difficult to get over it.

The Army officers and jawaans right on the word ‘GO’ immediately launch themselves into action and make it a point to finish the work and report the status of the work to their seniors.  There would never be a situation when an officer or a jawaan would procrastinate the job assigned to him.  I think, this is all because of the training they get which ultimately becomes a habit.

Good habits are seldom achieved quickly and majority of us picks up bad ones swiftly.  Why is it that the people in defence don’t pick up habits that one ideally shouldn’t?  Is it because they are on the borders trying to protect the country from any invasion and therefore, discipline and non-procrastination are a must for them.  Why can’t we as civilians pick up such good habits and tattoo them in our brain so deeply that they are hard-wired in our neuro system and then they would never leave us.

On the issue of handling procrastination, I wanted to give some practical tips that I have used myself and they are extremely useful both, to students as well as to qualified professionals.  For some more insights on procrastination, you can also read my article "Kabhi To Hoga Matlab Kabhi Nahin…”

These tips are highly practical and simple to use and implement:

1.         Write your Daily 5

This is one of my favorite things that work wonderfully in your life.  Every morning when you get up (make it a habit to get up at 5AM everyday - You can read my article – Why I joined the 5AM Club) take a piece of paper and write down 5 things that you would want to finish that day, for that day to be your best day.  These 5 things can be related to studies, career, personal life, social life and spiritual life (if you are spiritual J).

Make it a point to write very clearly what should be finished.  Your daily goals should be specific and measurable, don’t write anything that is not clear and which can’t be measured.  For example if you want to finish drafting a letter to a client you should write – “I will finish drafting the letter to Client XX and get it approved from my senior and then email it to the client XX”.  The other way, which is not the right way could have been – “Client XX” on the assumption that you would finish drafting the letter to that client. 

By writing very specific and measurable output, you are able to accurately judge your results and outcomes.   

2.         Identify 3 most important goals by applying 80:20 Rule

One of the widely used rules which is applicable to any situation in life, whether personal or professional.  This rule says in our life only 20% of the activities constitute 80% of the outcomes or income or results and 80% of the activities that we do constitute only 20% of the results.  A very powerful thought.

If you analyse you would agree that actually the above principle is true and therefore, it is very important that we spend majority of our time on those 20% of the activities that are most critical and significant.  Once we start to spend major time on the significant activities that are just 20%, our life would start to shift from a feeling of scarcity to a feeling of abundance.  That’s because you would be able to achieve more out of the time spent.

Identify your three most important goals in each area of your life. Organise them in priority. Make plans for their accomplishment and work on your plans every single day.  You will be amazed at what you achieve in the months and years ahead.

3.         Follow ABCDE Formula

I learnt this formula from my coach and use it in my daily life, whilst writing my goals.  Once you have written your daily goals, it is important that those goals are prioritized according to their importance and consequences each one of them would have on your career.

Mark those activities “A” that are of high importance and have serious consequences positive or negative if they are done or if they are not done.  These are the activities that are critical and should be finished at any cost.  These include things like replying to client’s email, filing an important letter with a Government department, attending important client meeting etc.

“B” activities are those that are important but do not carry a ‘critical’ tag with them.  These are jobs that should be picked up only when you ‘A’ activities are finished.  “C” activities are the ones which are nice to finish but do not have any consequence.  Things like talking to a friend, lunch with co-workers are these kinds of activities.  “D” jobs are those that can be delegated and shouldn’t be done by you.  “E” jobs are the ones that are absolutely un-important and therefore, should be eliminated.    

Start to practice ABCDE principle and you would find yourself doing only those things that have real consequence in your life and those that would make you super performers. 

4.         Conscious positive affirmations

Constantly talking to yourself through positive affirmations is another way to make sure you don’t procrastinate things that are important.  You can read a book “200 powerful positive affirmations” written by Andy Grant that perhaps would help you decide which affirmations to use and when. 

Affirmations start to affect our subconscious mind and it starts to drive our performance in the right direction.  By continuously speaking to yourself in a positive manner, such as – “Every day I am working towards achieving my goals and I would achieve them positively” or “Every day and in every way God is helping me win every race where I am participating, be it life or profession”.  You can also say – “Every day I am working hard to ensure that I don’t procrastinate”.  By continuously using such positive affirmations you would direct your subconscious mind to achieve those goals.

I hope this article is of some help to you.  All of us should strive to reach our pinnacle and that is only possible when we are highly disciplined, meticulous in our work and approach and behave in our life as the soldiers/jawaans of the army.

I would like to end this article by saying that:

“Do It Now.  Sometimes ‘later’ becomes ‘never’.


Authored by Nimish Goel (www.nimishgoel.com), a qualified chartered accountant who’s passion is to coach young chartered accountants and aspiring students achieve the best in their life.  Nimish used to work with EY and PwC in India and has also worked with KPMG in Europe.  He now runs his own consulting company and runs a blog www.nimishgoel.com.  He can be reached for any queries and issues on his blog.  

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BSNL Recruitment 2014 - Chartered Accountant

BSNL Recruitment 2014 – Apply Online for 962 Jr Accounts Officer Posts: Bharat Sanchar Nigam Limited (BSNL), New Delhi has released notification for the recruitment of 962 Junior Accounts Officer (JAO) vacancies. Eligible candidates may apply online from 01-12-2014 at 00:00 Hrs to 31-12-2014 at 24:00 Hrs. Other details like age limit, educational qualification, selection process, how to apply are given below…

BSNL Vacancy Details:

Total No.of Posts: 962

Name of the Posts: Junior Accounts Officer (JAO)
1. OC: 389 Posts
2. OBC: 260 Posts
3. SC: 195 Posts
4. ST: 118 Posts

Age Limit: Candidates age should be between 20-30 years as on 01-01-2015. Age relaxation is applicable for SC/ ST/ OBC/ PWD/ Ex-Servicemen candidates as per rules.

Educational Qualification: Candidate should be a qualified Chartered Accountant/ Company Secretary/ Cost & Works Accountant/ M.Com in Master of Commerce from recognized institution/ university.

Selection Process: Candidates will be selected based on All India Competitive Examination.

Application Fee: Candidates have to pay Rs. 1000/- (No fee for SC/ ST/ PWD candidates) through Online mode only.

For More Details Click Here.

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Vacancy for Chartered Accountant - Larsen & Toubro Ltd.

L & T is one of India's most respected companies, widely admired for its technological achievements, its professional value systems and high standards of corporate governance. The Company meets critical requirements in key sectors - infrastructure, oil & gas, power, petrochemical, chemical, mining and civil construction. It sustains leadership in its major lines of business through a customer-focused approach, an innovative culture and the ability to respond positively to challenging requirements. To meet our growing needs, we require talented professionals to join our teams of engineers and professionals.
DesignationChartered Accountant
Job Description
  • Accounts Payable
  • Indirect Taxation
  • Capex & Opex control
  • Costing
  • Cost Audit
Desired Profile
  • Good Knowledge in Indirect Taxtion related to Accounts Payable
  • Good Interpersonal Skill
  • Through Out Academic Record
Experience2 - 4 Years
Industry TypeOil and Gas / Energy / Power / Infrastructure
RoleChartered Accountant
Functional AreaAccounts, Finance, Tax, Company Secretary, Audit
EducationUG - Any Graduate - Any Specialization
Doctorate - Any Doctorate - Any Specialization, Doctorate Not Required
Compensation: 5,00,000 - 7,00,000 P.A. As per Company Policy

Source: Naukri.com
For More Details Click Here.

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Kotak Mahindra Bank to acquire ING Vysya Bank for RS 15,000 crore

MUMBAI: In India's biggest banking merger, Kotak Mahindra Bank on Thursday announced the acquisition of mid-sized private sector ING Vysya Bank in an all-share deal worth Rs 15,000 crore.

The merger will catapult the nation's fourth largest private bank to nearly Rs 2 lakh crore balancesheet size ahead of the entry of new players next year.

In the all-share deal, 725 equity shares of Rs 5 each (face value) of Kotak Mahindra will be issued for every 1,000 shares of Rs 10 each held in ING Vysya Bank.

Post merger, Dutch lender ING Group NV which currently holds 42.73 per cent stake in ING Vysya Bank, will become the second largest shareholder in Kotak Mahindra Bank at 6.5 per cent.

Holding of Uday Kotak in the merged entity will also be diluted to 34 per cent from 39.71 per cent. The deal will help him to comply with RBI directive of bringing his stake down to 30 per cent by end of 2016.

The combined banking entity will have a network of 1,214 branches across the country.

Announcing the deal, Uday Kotak, vice chairman and managing director, Kotak Mahindra Bank said, the deal is expected to close by April 1 after it gets all statutory approvals, including from RBI and Competition Commission of India.

The share swap ratio announced indicates a price of Rs 790 for each ING Vysya Bank share based on average closing price this month, valuing the deal at just over Rs 15,000 crore.

ING Vysya Bank shares closed 7.15 per cent at Rs 814.20 per on the BSE ahead of the announcement which came after trading hours. Kotak Mahindra Bank too jumped by 7.28 per cent to close at Rs 1,157.05 per unit at the BSE.

This is the first amalgamation of a profit earning entity post global financial meltdown in 2008. Although two more mergers took place during this period but those were amalgamations under different circumstances.

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Vacancy in United Health Group

DM - Revenue Accounting - Hyderabad

Job Details
  • Maintain general ledger accounts and related activities for the production of financial statements and reports.
  • Reconcile, analyze and review general ledger accounts in preparation for month end close.
  • Prepare journal entries and reviews accounting classifications, in accordance with generally-accepted accounting principles.
  • Prepare documentation in support of external and internal audits.
  • Perform ad hoc reporting and analysis and investigate issues providing explanations and interpretation.
  • Analyze and prepare financial statements, including balance sheets and statements of financial position.
  • Assist with or lead the month end quarterly end close process for assigned businesses or groups
  • Performs work in a self-directed manner and works with less structured, more complex issues.
  • Serve as a resource to others.

Skills required for this job
  • Bachelors Degree in Accounting, Finance or equivalent
  • 8+ years of professional accounting experience.
  • Solid understanding of generally accepted accounting principles and financial statements

For More Details Click Here.

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Reversed Cenvat credit can be re-taken even after six months

By C.A Pratik Anand, ACA

The CBEC has issued circular No. 990/14/2014-CX-8 dt. 19/11/2014, wherein it has clarified that the cenvat reversed or amount paid for reversal in respect of cenvat credit wrongly availed where the conditions relating to availment of cenvat credit were not fulfilled, can again be claimed as input credit on the fulfilment of prescribed conditions even after six months from the date of issue of a document (i.e invoice challan etc) prescribed under rule 9(1) of Cenvat Credit Rules’2004.

The CBEC has clarified that the limit of availing cenvat credit within six months from date of the issue of document under rule 9(1) is applicable where cenvat credit is taken for the first time. It would not apply for taking re-credit of amount reversed, after meeting the conditions prescribed in the Cenvat Credit Rules’2004.

The situations wherein this clarification is applicable is as follows:

    1)      Newly inserted third proviso to Rule 4(7) provides that if the value of input service as well as service tax thereon is not paid within a period of three months from the date of the invoice etc., the manufacturer or the service provider who has taken credit on such input service has to make payment of an amount equal to the CENVAT Credit availed. It is further clarified that said payment of reversal may be made by cash or through debiting Cenvat credit. This proviso does not apply to cases where 100% of the service tax is to be paid by the recipient.
    Therefore if a manufacturer or service provider could not pay the value of input service availed as well as the service tax thereon within 3 months of raising of invoice then the CCR has to be reversed. The CCR can be re-taken on payment of the amount of service as well as the service tax thereon even after expiry of six months from the date of invoice.
     2)      According to Rule 3(5B) of CCR, 2004, if the value of any input or capital goods before being put to use on which CENVAT Credit has been taken, is written off or such provisions made in Books of Account, the manufacturer or service provider is required to pay an amount equal to credit so taken. However, when the inputs or capital goods are subsequently used, the amount so paid can be re-credited in the account i.e cenvat credit can be re-taken even after expiry of six months from the date of invoice for the purchase of input or the capital good.  
    3)      Rule 4(5)(a) of CCR, 2004 prescribes that in case inputs sent to job worker are not received back within 180 days, the manufacturer or service provider is required to pay an amount equal to credit taken on such inputs in the first instance. However, when the inputs are subsequently received back from job worker, the amount so paid can be re-credited in the cenvat credit account even though the goods are received back from the job-worker after expiry of six months from the date of original invoice.

Hope you find the above information relevant and useful in your daily practice  

The author is a CA in practice at Delhi and can be contacted at:
E-mail: capratikanand@gmail.com
Website: www.capratikanand.com
Mobile: +91-9953199493

Vacancy for Senior Chartered Accountant - Jaipur

Senior Chartered Accountant - Jaipur

Devi Construction Company

15 - 20 yrs 

Job Description
    • The candidate will be responsible to handle multiple areas in the nature of accounts, taxation, assurance, and FCRA and FEMA matters besides providing consulting to domestic clients. 
    • He would also be required to monitor and handle all kinds of statutory, internal, management and operational audits besides compliances under direct and indirect taxes including Service Tax, TDS, VAT, and Excise etc. 
    • He will be handling portfolio of clients and advising clients on business transaction such as Mergers and Acquisitions.
    • He will also be managing junior colleagues and providing training and motivating them to lea more and also expected to maintain proper decorum in the office etc. 
    • Handle the accounting function for various profit verticals compiling and circulation of periodical MIS reports for the benefit of various stakeholders.
    • Managing cash flows with an active involvement in the collection process.
    • Liaison with the Statutory and Internal Auditors during periodical reviews / audits.
    • Close interaction with the legal Head to ensure timely legal action on system defaulters.
Salary:As Per Industry Standards
Industry:Construction / Engineering / Cement / Metals
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
Role Category:Accounts
Role:Chartered Accountant

Source: Naukri.com
For More Details Click Here.

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Kisan Vikas Patra relaunched to boost household savings rate

Union Finance Minister Arun Jaitley and Communication Minister Ravi Shankar Prasad relaunched the Kisan Vikas Patra (KVP) investment scheme on Tuesday to tap household savings for funding infrastructure development in the country and to lure them away from ponzi schemes.
The savings instrument will be available in the denomination of Rs. 1000, Rs. 5,000, Rs. 10,000 and Rs. 50,000. There will be no upper ceiling on investments an investor can make in them. However, no tax benefits would be available on these investments.
Banks will accept these certificates as pledged security for loans.
To begin with, the certificates will be available only at post offices. Over time, however, designated branches of nationalised banks will also sell them.
The certificates will carry a lock-in period of 2 years and 6 months after which they will become encashable on pre-determined maturity value. Investments made in the certificate will double in 8 years and 4 months.
Government will deploy the collections under the scheme to finance development plans of the Centre and State Governments.
"In the last 2-3 years, savings rate in country has declined from a record high of 36.8% to below 30% due to slowdown in the economy. It is, therefore, necessary to encourage people to save more," Union Finance Minister Arun Jaitley said on Tuesday at the launch of the revamped Kisan Vikas Patra (KVP).It will be a freely tradable, fully secured instrument with no upper limit on the amount one can invest in it. Available in denomination of Rs 1,000, 5,000, 10,000 and 50,000, the amount invested in KVP will double in 100 months, which translates into effective annual interest rate of 8.7%. The instrument can be encashed after a lock-in period of 30 months. 

Also, one does not need to provide permanent account number (PAN) to purchase this instrument, though one should provide address and identity proof. 

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