Importance of CA/Finance Professional in COVID -19 Times

Ratan Tata- I need an MBA for running my business…..  But a CA (finance professional) to teach them how to run the business!!

The Crisis

The role of a CA/Finance Professional in an organization is a very challenging, particularly in adverse circumstances, such as what we are presently going through. Effective and robust CA coaching often prepares professionals to handle such grim situations.

As it appears, if we crystal gaze into the future, this pandemic is going to be around for quite some time, till we find a vaccine, which may take a very long time. If we all have to overcome the situation, there is a serious need to strengthen our defenses and take every precaution to safeguard ourselves, our family ,our company, our economy and our country. All of us, have perhaps now understood how interlinked we are and it is indeed this small but dangerous virus that has provided this reality check to us.

Science and Technology has undoubtedly reached the moon, the stars, the Milky Way on different missions. AI and Robotics have provided cutting edge technology and sci-fi of earlier decades have turned into reality. While on one hand, the world has progressed in the last century as never before in the history of mankind, it has also come at a very heavy price.

Environment, the Ozone layer, the forest, the rivers, the oceans, the air have all been brutally been polluted and destroyed, as never before. Countless species, plants, flora, animals, birds have been made extinct and decimated forever. We have in fact plundered the future from all generations to come.

We work together…

With this context, I would like to present the wayforward to CA/Finance Professionals, in their efforts to mitigate the seemingly hopeless situation. As CA/Finance Professionals, our rigorous CA coaching has given us the added responsibility to fulfill, as perhaps, we have a fairly good overview of shape of things that matter.

The advancement of our society is a collective effort. Our mitigation efforts can only reap dividends ,if all of us ,the professional members of our the society,apart from the general civil society -Doctors, Lawmakers, CA/Finance Professionals, Engineers fully understand and fulfill our respective roles, in a collaborative, as well as collective manner.

It is imperative that we understand that strength of chain is only determined by its weakest link.

CA/Finance Professional and the Virus

Just as our body needs to be protected from the Virus in the same way an Organisation may have to be protected from various risks like frauds, systemic weaknesses, non-compliances or any such hazards.

The human body can protect itself by remaining healthy and building a good immune system. This will prepare the body for its first line of defense, Antibodies at times of attack from any Virus. Similarly, a CA/Finance Professional who has been efficiently trained in one of the best CA coaching classes acts as antibodies to protect  and ring fence the Organization and also provide essential services to the various stake holders. The various stake holders are, Employees, Shareholders, Service Providers, Vendors, Customers  and the management, as well as the society in general.

Role of a CA/Finance Professional

The exact role of a CA/Finance Professional would be dependant on the nature of the organization, the industry type and the position offered/occupied by him/her. CAs and finance professionals are adequately trained in CA coaching classes in Bangalore & India to understand the organization and customize their approach.

Each organization has its Vision/Mission and each one has to adhere to his/her own responsibilities given. The role may change as the organization grows and so may the responsibilities. In case the role is not directly provided as per the appointment terms, then the same may be drawn in consultation with the superiors. CA coaching allows professions to be malleable and adaptable to their changing roles based on organization requirement.

However, whether it is the entry level position or the highest level CA/Financial level, the essence or core values of the function taught in the best CA coaching classes remain the same for all.

CA Coaching prepares a CA/Financial Professional for a role that is inclusive of Accounting, Auditing, Taxation, or any other related area. This would encompass the financial activities of the entire organization.

In fact, the CA/Finance Professional are also trained right from the start in CA coaching to be custodian of all matters in respect of Statutory Matters, with numerous ever changing statutes, govt agencies, banks apart from the Management. In order that he/she fulfills the onerous responsibilities, there is a compelling need to have knowledge updation and be ever vigilant to any new threats to the organization. Some of the best CA coaching in Bangalore and best online CA coaching offer these facilities.

The following are some of the qualities that are instilled in CA/Financial Professional as they start CA Coaching.They need to possess & develop these skills if he has to be successful:

  • Personal Integrity
  • Knowledgeable
  • Discipline
  • Team Player
  • Tech Savvy
  • Good Communicator

It is sometimes difficult that a person has all the requisite qualities but nevertheless these may be inculcated along the journey and enhanced.

My experiences of 40 years in various companies big and are being shared for the benefit of all potential CA/Financial Professionals,  in a series of case studies. This will help throw more light and perhaps gain insights, as to what challenges to expect and how to resolve them.

The case studies are of course prior to Covid times but are still relevant today.

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13 days ago

trendiee is very interesting website for posting and sharing.
Ayesha Khan

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