2015

JUNE

PUNE BRANCH OF WICASA OF ICAIJUNE 2015 - E NEWSLETTER

My Dear Students,

With radical changes lined up in virtually every sphere of our professional area, our intellect and mettle will be tested and rested on a continuous basis, and we have to prove our professional performance by balancing our skills and values perfectly. During such changing and opportune time, our quality success will also greatly depend upon our ability to remain disciplined in all matters while keeping our values intact.

Pune Branch is also changing to serve you better with effect from 13th June, 2015.Pune Branch is launching its first ever mobile app on the same date. We hope that all students will find the new website and mobile app very useful regarding articleship, seminars, visits and related updates, also the mobile app is very user friendly. One more initiative is taken by the Pune Branch to create a separate email address for all your grievances i.e. support@puneicai.org where you will get immediate response by email with a ticket number assigned to your query/enquiry which will be replied by the concerned department within given time frame.

The month of May, 2015 was a busy month with various seminars and visits lined up. Seminars on �Depreciation- Schedule II & CARO 2015�- Decoding the new regulations, Accounting Standards � 14, 15, 21, 28, 30, 31, 32 were conducted. Industrial Visit to John Deere India Private Limited, Sanaswadi, Pune, and an Educational Visit to National Research Centre for Grapes, Manjri, Pune were also conducted.

Another important programme in May, 2015 was �Meet on Grievance Redressal Forum�, for members as well as for students held by Deputy Secretary & In-charge of Members, Students & Firm Section(Decentralized Office) of WIRC of ICAI.

In the coming months Pune WICASA is planning visits to National Stock Exchange and TATA Motors, also sports event which includes

badminton, carom, chess. So my dear friends it�s a great opportunity for you all, don�t miss to grap this opportunity get yourself registered for visits and sports events.

In my interaction with the students I have found that many of them possess good knowledge of subjects backed by proper soft skills. At the same time there are also students who need to develop technical as well as soft skills. Strong foundation is must for a multi-dimensional personality. Apart from subject matter, the students need to improve their managerial communication, presentation, and other soft skills. Therefore, Pune WICASA will be organizing Workshops on English Speaking and Presentation Skills.

The success of any professional largely depends upon how one represents oneself to withstand the challenges. Remember that nothing is impossible in this world if you have a strong will and high level of commitment to accomplish your set objectives. You should formulate long term strategy and plan for the enhancement of your career.

Chairman�s Communication

Managing Committee Members

Pune Branch of WICASA

CA. Anand JakhotiyaChairman

Ms. Dhara ParmarVice- Chairperson

Mr. Apurv GujrathiSecretary

Mr. Karan BharukaTreasurer

CA. Radhesham AgrawalEx-Officio

Mr. Akshay PanditMember

Mr. Chaitanya LimkarMember

Mr. Raviraj DhengleMember

ICAI BHAWAN, Plot No. 8, Parshwanath Nagar, Munjeri, Opp. Kale Hospital, Bibwewadi,Pune - 411037. | Tel: 020 24212251 / 52 | Web: www.puneicai.org | email: wicasa@puneicai.org

CA. Anand JakhotiyaChairmanPune Branch OfWICASA of ICAI

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Computers make it easier to do a lot of things, but most of the things they make it easier to do don't need to be done. - Andy Rooney

My Dear Friends,

Let me begin this communiqué by stating that I feel privileged to have had the opportunity to serve as Secretary of Pune WICASA. I wish to thank the whole fraternity of Chartered Accountants Students in Pune for posing confidence in me and for giving me the opportunity to serve as Secretary of Pune WICASA.

I take this opportunity to convey my special thanks to all members of Pune WICASA � Dhara Parmar (Vice Chairperson), Akshay Pandit (MCM), Karan Bharuka (MCM),Chaitanya Limkar (MCM), Raviraj Dhengle (MCM) and members of Pune Branch Managing Committee and Pune Branch Office staff for their stupendous support and cooperation without which it wasn�t possible to have such an augmented experience.

I would also like to thank all the volunteers for mutual active and willing help, cooperation and contribution in the growth and development of profession. Though we generally hate to say goodbye, let me inform you that goodbye cannot be an end. I know, our paths will certainly cross each other a number of times in the years to come and we will continue to meet and work together again and again.

About the WICASA activities during the month of May, 2015 we had an opportunity to organize industrial visit to �John Deere� and Educational Visit to �National Grapes Research Centre�. Also seminars on Accounting Standards 14, 15, 21, 28, 30, 31, 32 and Depreciation �Schedule II & CARO 2015 were organised.

I request students to visit Pune Branch website for forthcoming programmes of Pune WICASA. I look forward your enthusiatic participation in every programmes oganised by Pune WICASA.

Lastly, It may appear that certain moment is over, but let me give you another perspective that together we have created some of the best moments of pride for the profession. I have come to understand and realize that our journey in life is not about knowledge or about everything we desire, but about taking our life head-on and making

the best of it with our heart and courage.

I extend my heartiest and warmest wishes to the future WICASA members-

Vaibhav Pingale ( Vice Chairman)

Anchila Ojha (Secretary)

Anand Gupta (Treasurer)

Pravin Babar (Joint Editor)

Rupendra Tholiya (Joint Secretary)

Mr. Apurv GujrathiSecretary,Pune WICASA of ICAI

Secretary's Communication

Managing Committee Members

Pune Branch of WICASA

CA. Anand JakhotiyaChairman

Ms. Dhara ParmarVice- Chairperson

Mr. Apurv GujrathiSecretary

Mr. Karan BharukaTreasurer

CA. Radhesham AgrawalEx-Officio

Mr. Akshay PanditMember

Mr. Chaitanya LimkarMember

Mr. Raviraj DhengleMember

ICAI BHAWAN, Plot No. 8, Parshwanath Nagar, Munjeri, Opp. Kale Hospital, Bibwewadi,Pune - 411037. | Tel: 020 24212251 / 52 | Web: www.puneicai.org | email: wicasa@puneicai.org

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In the old days, people robbed stagecoaches and knocked off armored trucks. Now they're knocking off servers. - Richard Power

Photo Gallery

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In a few minutes a computer can make a mistake so great that it would have taken many men many months to equal it. - Anonymous

�EDUCATIONAL VISIT OF CHARTERED ACCOUNTANTS STUDENTS NATIONAL RESEARCH CENTRE FOR GRAPES�

�INDUSTRIAL VISIT OF CHARTERED ACCOUNTANTS STUDENTS AT JOHN DEERE FACTORY�

Introduction:

Hacking is not limited to computers. Although the history of hacking is relatively unknown to most of the public, it's quite interesting to read about it. It doesn't matter if you aren't a computer expert or a system administrator of a big corporation. Computers are as much part of our history as airplanes and cars, and it should be common knowledge to know how they came to be. It's the only way you can understand the effects of computer hacking in our life.

History of Hacking:

The first bona fide appearance of a computer hacker occurs nearly 100 years later, in the 1960s. A �hack� has always been a kind of shortcut or modification�a way to bypass or rework the standard operation of an object or system. The term originated with model train enthusiasts at MIT who hacked their train sets in order to modify how they worked.

Several of these same model train hackers later applied their curiosity and resourcefulness to the then new computer systems being deployed on the campus. Hacking enjoyed a golden era of sorts in the 1980s. The introduction of turnkey �personal� computers by Radio Shack, IBM, Apple, and others is a turning point in hacker history.

Although hacking expanded and enjoyed glorification during its golden years, a divide was forming within the hacking community. An increasing number of hackers were no longer satisfied with benign exploration of systems merely to learn how they worked. Then the new breed of �hacker� directed its knowledge and tenacity toward distinctly criminal pursuits, including the distribution of pirated commercial software, games, and viruses and worms that could virtually shut down systems.

Legislators and law enforcement began to get serious about criminalizing and prosecuting these activities in the mid-1980s. Congress passed its first hacking-related legislation, the Federal Computer Fraud and Abuse Act, in 1986. The act made computer tampering a felony crime punishable by significant jail time and monetary fines.

What is Hacking?

An art as well as a skill depending on a person's knowledge and skill.

The Process of attempting to gain or successfully gaining, unauthorized access to computer resources for the purpose of help or secure system is called Hacking.

Hacking is technique in which, anyone can access any one's computer without his permission.

Hacker is not a cyber-criminal but he is the very intelligent person who is use his knowledge in constructive manner to secure system & never damage data.

Why Hacking?

When somebody tries to access other's computer systems with the aim of destroying or altering important information or data, such an activity is defined as hacking and the person is called a hacker. It is believed that hacking activities are not backed by solid logical reasons. On the contrary, hackers try to experiment with the computer brilliance by trying to affect other system with viruses. Hacking is done mostly for sheer pleasure by which a hacker wants to prove his skills. But if at all one searches for reasons behind it, it can be logically concluded Hacking is carried out with the objective of tracing vital information and affecting computer systems with viruses.

In the good old days, most hacking was performed by young males looking to boost their self-esteem. Nowadays, almost all hacking and malware is carried out with criminal intent.

Picking your pocket

Pummeling you with adware and spam

Stealing intellectual property

Hacker

A person who Access computer system or network without authorization

Breaks the law

Someone who seeks and exploits weaknesses in a computer system or computer network.

Who makes innovative customizations or combinations of retail electronic and computer equipment

Ethical Hacking& Ethical Hacker

Ethical hacking and ethical hacker are terms used to describe hacking performed by a company or individual to help identify potential threats on a computer or network. An ethical hacker attempts to bypass way past the system security and search for any weak points that could be exploited by malicious hackers. This information is then used by the organization to improve the system security, in an effort to minimize or eliminate, any potential attacks.

It goes like �To catch a thief think like a thief similarly To catch a hacker think like a hacker�

Ethical hackers use the same methods and techniques to test and bypass a system's defenses as their less-principled counterparts, but rather than taking advantage of any vulnerabilities found, they document them and provide actionable advice on how to fix them so the organization can improve its overall security.

The purpose of ethical hacking is to evaluate the security of a network or system's infrastructure. It entails finding and attempting to exploit any vulnerabilities to determine whether unauthorized access or other malicious activities are possible. Vulnerabilities tend to be found in poor or improper system configuration, known and unknown

Ethical Hacking Name: Rahul VaderaRegistration no.: WRO 0435583

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If computers get too powerful, we can organize them into a committee. That will do them in. - Bradley'sBromide

hardware or software flaws, and operational weaknesses in process or technical countermeasures.

Why Ethical Hacking:

It is Legal

Permission is obtained from the target

Part of an overall security program

Identify vulnerabilities visible from Internet at particular point of time

Ethical hackers possesses same skills, mindset and tools of a hacker but the attacks are done in a non-destructive manner

Rules for Ethical Hacker

Expressed (often written) permission to probe the network and attempt to identify potential security risks.

You respect the individual's or company's privacy.

You close out your work, not leaving anything open for you or someone else to exploit at a later time.

You let the software developer or hardware manufacturer know of any security vulnerabilities you locate in their software or hardware if not already known by the company.

Types of Hackers

Distinction on the basis of LEGALITY

1. WHITE HATS

Has non-malicious intent whenever he breaks into security systems and whatnot.

Also known as Penetration Tester

Have genuine license to hack.

Focus on securing and protecting IT systems

Have registered police records

Evolves themselves in good works

Generally owned by companies for security designing

Have high pay scales.

Generally these are Security Experts

A white hat that does vulnerability assessments and penetration tests is also known as an ethical hacker.

2. BLACK HATS

Known as cracker

Malicious intent whenever he goes about breaking into computer security systems with the use of technology

Very dangerous persons.

Always have motive to earn huge profit.

Highly paid persons.

Evolves themselves mostly in criminal activities.

These could be coders, admins as well as script kiddies

3. GREY HATS

Someone who exhibits traits from both white hats and black hats.

Also known as red hats.

Perform both tasks fair as well as unfair.

Generally these are admins.

Do not hack for personal gain

Have little high pay than white hats.

Generally not so dangerous, but sometimes could be.

Even offer to repair the vulnerable site he exposed in the first place for a small fee.

Advantages and Disadvantages of Ethical Hacking

Advantages

Provides security to banking and financial establishments

Prevents website defacements

An evolving technique

To catch a thief you have to think like a thief

Disadvantages

All depends upon the trustworthiness of the ethical hacker

Hiring professionals is expensive.

Protection of system from being hacked

Setup firewall

Encrypt important data

Remove unused program

Backup the system often

Setup IDS

Conclusion

This paper addressed ethical hacking from layman perspectives. Ethical hacking seems to be a new buzz word although the techniques and ideas of testing security by attacking an installation aren't new at all. But, with the present poor security on the internet, ethical hacking may be the most effective way to plug security holes and prevent intrusions. So, at present the tactical objective is to stay one step ahead of the crackers.

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One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man. - Elbert Hubbard

"In the next century, planet earth will don an electronic skin. It will use the Internet as a scaffold to support and transmit its sensations."

- Neil Gross 1999

Before exploring the question mentioned above, it is indispensable to understand the 'Internet of Things (IoT), subject which occupied the center stage at the Consumer Electronics Show (CES) 2014.

In our houses, cars, offices, we're surrounded by tiny, intelligent devices. Right now, we talk to them, we instruct them with the 'to-dos' but soon they'll begin to talk to one another. Soon we'll be able to choreograph them to respond to our needs, solve our problems, even save our lives.

Internet of Things, it is the language of the future- tiny, intelligent things all around us, coordinating their activities. Coffeepots that talk to alarm clocks. Thermostats that talk to motion sensors. Factory machines that talk to the power grid and to boxes of raw material. A decade after WiFi put all our computers on a wireless network and half a decade after the smartphone revolution put a series of pocketsize devices on that network we are seeing the dawn of an era when the most mundane items in our lives can talk wirelessly among themselves, performing tasks on command, giving us data we've never had before.

But here's a better way to think about what we're building, It's the Programmable World. After all, what's remarkable about this future isn't the sensors, nor is it that all our sensors and objects and devices are linked together. It's the fact that once we get enough of these objects onto our networks, they're no longer one off novelties or data sources but instead become a coherent system, a vast ensemble that can be choreographed, a body that can dance!

It's the opposite of "Internet," a term that even today in the era of the cloud and the app connotes a system in which each node is equally empowered. By contrast, these connected objects will act more like a swarm of drones, a distributed legion of bots, far flung and sometimes even hidden from view but nevertheless coordinated as if they were a single giant machine!

We're talking about a programmable world and it would be an act of dishonor to do so with the help of words, the most primary function of IoT is ease of communication and a graphical elucidation would be apposite.

Let us understand the mechanism of Internet of Things. Internet of Things are driven by a combination of Sensors & Actuators, Connectivity and People & Processes.

Sensors and Actuators

A sensor is a device that detects events or changes in quantities and provides a corresponding output, generally as an electrical or optical signal. Sensors are used in everyday objects such as touch-sensitive elevator buttons, a thermometer, etc.

Whereas an actuator is a type of motor that is responsible for moving or controlling a mechanism or system. It is operated by a source of energy, may be electric current or hydraulic fluid pressure. It converts that energy into motion. An actuator is the mechanism by which a control system acts upon an environment. For example, electric motor, printer, etc.

Now, using this combination of sensors and actuators we are giving our world a digital nervous system. Location data using GPS sensors, Eyes and ears using cameras and microphones, along with sensory organs that can measure everything from temperature to pressure changes. The image gives you a bird's eye-view of sensors and actuators.

Connectivity

The inputs obtained from sensors and actuators are then digitized and placed onto networks and the various technologies that digitized the information and are also the driving forces behind this topic of "IoT" are too colossal to put in plain words.

Name: Ms. Sneha Baheti Registration no.: WRO0284851 Are you ready for The Internet of Things?

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Those parts of the system that you can hit with a hammer are called hardware; those program instructions that you can only curse at are called software. - Anonymous

The important ones amongst them are LTE, 4G, 3G, GSM, EDGE, CDMA, Wieghtless, WiMax, Wifi, Bluetooth, Zigbee, RFID, ANT, NFC, Poweline, Ethernet, PAN, LAN, WAN, MAN, IPv4, IPv6, Telnet, DDS, REST, MQTT, DASH7, Printed, DTLS, API, etc.

RFID, A radio frequency identification system that uses tags, or labels attached to the objects to be identified. Two way radio transmitter receivers called interrogators or readers send a signal to the tag and read its response. The readers generally transmit their observations to a computer system running RFID software or RFID middleware.

Weightless is a proposed proprietary open wireless technology standard for exchanging data between a base station and thousands of machines around it using White space (wavelength radio transmissions in unoccupied TV transmission channels) with high levels of security.

Internet Protocol version 6 (IPv6) is the latest revision of the Internet Protocol (IP), the communications protocol that provides an identification and location system for computers on networks and routes traffic. Every device on the Internet must be assigned an IP address in order to communicate with other devices. With the ever increasing number of new devices being connected to the Internet, the need arose for more addresses than IPv4 is able to accommodate. Hence Ipv6.

People & Processes

These networked inputs can then be combined into bi-directional systems that integrate data, people, processes and systems for better decision making. People and Processes finding application of IoT are Customer Relationship & Support, Analytics & Cloud, Upgrades & Configuration, Remote Monitoring & Maintenece, Control & Automation, Supply Chain Management, Energy & Security, Location & Tracking, Financial, Mobile Devices & Applications, etc.

For enhanced understanding, let us consider some examples,

SMART Things

The interactions between these entities (sensors+acuators+connectivity+people+processes) are creating new types of smart applications services. Some of the popular connected devices that are already available on market are,

The Question???The question, "Are you ready for the Internet of Things?" is rejoined by the very basic characteristic of human beings, their notoriously lazy and impatient nature. In 2009, we faced a similar question, "are we ready for the smartphones" or "do we need the smartphone?" today people panic more when they lose their phone than when they lose their wallets!

Consumers want the technology to be inituitive - an extension of their lives.

The marvel of smartphones is their multifunctionality. Mostly everyone is now carrying around a calendar, a flashlight, a GPS, a browser, a calculator, and an infinite number of

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If you tried to read every document on the web, then for each day's effort you would be a year further behind in your goal. - Anonymous

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other useful things. Once you have it, you're in for life. You'd never be able to go back to doing things the old way.

And so it will be for refrigerators that tell you when you need milk, laundry machines that text you when it's time to put the clothes in the dryer, lights that turn on when you get home and turn off when you leave, etc.

No one thing, on its own, might be enough to convince consumers to adopt the technology but in combination, it saves time and removes worries, solving two of the most fundamental human needs.

The FUTURE

As per CISCO reports,during 2008, the number of things c o n n e c t e d t o i n t e r n e t exceeded the number of people on earth. And by 2020 there will be 50 mill ion 'things'.

These things are not smart phones and tablets but they are everything, every kind of sensor and actuator that works in or with the web.

These things are talking to each other and develop their own intelligence. Imagine a scenario where..

The Other Side of IOT

Currently we can discern two main blocks of thought on IoT. The first is a reactive framework of ideas and thought that sees IoT as a layer of digital connectivity on top of existing infrastructure and things. This position sees IoT as a manageable set of convergent developments on infrastructure, services, applications and governance tools.

It is assumed that, as in the transition from mainframe to Internet some business will fail and new ones will emerge, this will happen within the current governance, currency end business models. The second is a proactive framework of ideas and thought that sees IoT as a severely disruptive convergence that is unmanageable with current tools, as it will change the notion of what data and what noise is from the supply chain on to 'apps'.

The Internet of Things; imagine a world where everything can be both analogue and digitally approached � reformulates our relationship with objects � things� as well as the objects themselves. Any object

that carries an RFID tag relates not only to you, but also through being read by a RFID reader nearby, to other objects, relations or values in a database. In this world, you are no longer alone, anywhere!

Technology promises closeness byt it also results in lonliness. The social networking sites have glued the population to screens, they are no more interested in the society surrounding them and still believe to be ""social".

The most important thing that would be exploited is 'privacy.' Everyone and everything would be captured and then digitized and would remain there, available universally forever.

Cheap, self-organizing wireless sensors and smart devices have infinite potential applications, IoT will bring the time when smart things would replace human things. The possibilities are beyond imagination but that doesn't promise 'happily ever after'

If we imagine ourselves in a world where things would decide before us that what and we are going to do then no room would be left for human efforts.

If everythings is being replaced by smart things then what would the humans do? The massive unskilled population would be left hopeless.

We would be left with remote controls or smart phones (whatever be the name) with no privacy, minimal physical exersions and sounds of beeps....all around us..

It also holds promises, but it holds dangers too!

But this doesn't chane the fact that change is inveitable, its going to happen and we better prepare ourselves for the "Internet of Things"

At last, the dream would come true, if you misplace any of your assets, you just need to press a button and it would start buzzing just like your phone! Bluetooth powered ultra small location finders 'SticknFind'SticknFind'

Technological limitations are receding exponentially. When billions of things are connected, talking and learning, the only limitation left will be our own imaginations.

There might be new technology, but technological progress itself was nothing new and over the years it had not destroyed jobs, but created them. - Margaret Thatcher

CROSSWORD PUZZLE

Across 1. rate and efficiency of work

4. ask the bank to advance money

6. money paid for a loan

10. wealth of person or business

12. promise to repair or replace

13. amalgamation of two companies

14. legal agreement

16. total sales of a company

17. share of profits paid to shareholders

Down 2. proof of payment

3. put money into a company or business

5. money paid to owner of copyright or patent

7. part of the capital of a company

8. where shares are bought and sold

9. money lent

11. amount of money spent

14. neither cheque nor credit card

15. money returned

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The most overlooked advantage to owning a computer is that if they foul up there's no law against whacking them around a little. - Porterfield

Answers to One word puzzles May - 2015

1. Debtor

2. Base

3. Relief

4. Equity

5. Quid

6. Yield

7. Fiscal

8. Divide

9. Into

10. Inflation

11. Lesson

12. Inherits

13. Account

14. Rebates

15. Cost

16. Trends

17. Hire

18. Issue

19. Unknown

20. Trusts

21. Assets

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Computers are magnificent tools for the realization of our dreams, but no machine can replace the human spark of spirit,

compassion, love, and understanding. - Louis Gerstner, CEO, IBM