THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

{SETUP BY AN ACT OF PARLIAMENT}

BILASPUR BRANCH OF CICASA

APRIL 2017, MONTHLY NEWS LETTER

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 1

CONTENTS

1. CICASA MANAGING COMMITTEE

2. BRANCH CHAIRMAN’S

COMMUNICATION

3. EDITOR’S MESSAGE &

TREASURE’S MESSAGE

4. HOW TO OPEN A BROKERAGE A/C ?

5. IMPORTANCE OF ARTICLESHIP TRAINING

6. CREATIVITY

7. MEMORABLE MOMENTS

8. NEWS & UPDATES

CA Manglesh Pandey CICASA Chairman

Ankur Sahu Wise Chairman

Chittesh Dev Secretary

Ayush Agrawal Treasurer

Bhumika Kedia Joint Secretary

Anand Saraf Executive Member

Jaagruti Agrawal Executive Member Neha Jain

Executive Member

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 2

Chairman’s communication

Dear Students,

It is a great pleasure to interact with you. First of all I would like to say “best of luck” for your examinations. Now this is time to implement GST Law w.e.f. 01 July 2017.The Goods and Service Tax (GST) is a momentous step in the direction of ease of doing business and is critical for India’s global perception as well as industry sentiments. GST is the concept of “One Nation”, One Tax”.

It has been a long-lasting demand of the business fraternity as well as foreign investors to introduce GST in country, as it will put an end to a plethora of taxes as well as different rates of taxes across states of India, that currently exist, making life complicated for the businesses.

Every change offers a new beginning. This is the eternal phenomenon that compasses everything our profession and ICAI included. And I think you all have a great opportunity to learn and expertise in GST during your studies and article ship training. As you know this is a totally new concept and law therefore it has a lot of opportunity for you.

With Best wishes

CA Manoj Kumar Shukla

Chairman

Bilaspur Branch of CIRC of ICAI

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Message from Treasurer Ayush Agrawal

Message from Editor Chittesh Dev

message

Hi Friends,

I want to begin my communication by wishing

you all a very happy New Financial Year 2017-18.

It feels good to be a part of the Managing

Committee of Bilaspur Branch of Cicasa of ICAI.

We'll make all possible efforts during our tenure

to conduct a lot of activities for fun, learning and

personality development of students. We expect

your active participation in the future events of

Cicasa. All the best for exams. Work hard, believe

in yourself and conquer your fears.

Yours Ayush Agrawal (Treasurer, Cicasa Bilaspur branch of ICAI)

Dear friends,

I would like to begin with a Happy New

Financial Year. I wish that in this New Year

you achieve all the success you deserve. It’s a

High Time for those who have their exams

upcoming & are going to show their

knowledge through these examinations, I

wish all the best to all of them. I hope you all

are giving your best to go to one step ahead

in the course.

All the submission, critics, comments invited

at cicasabsp@gmail.com.

Regards,

Chittesh Dev Bhoy

Editor

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 4

Choosing the right brokerage account can seem like a difficult process, but it doesn't have to be. Starting by deciding what type of account you want, and then comparing several online stock brokers, you should be able to choose the one that best meets your needs. Here's your step-by-step process:

1. Determine the type of brokerage account you need

What are your investment objectives? If you simply want to invest for a rainy day or for a certain relatively near-term goal, and don't necessarily want your money tied up until you retire, a traditional brokerage account is the way to go. These accounts don't have tax advantages – you may have to pay tax on investment profits and dividends – but you are free to withdraw your money whenever you'd like.

If you choose a cash account, your broker will likely ask if you want margin privileges, which basically means that you can borrow money to buy stocks, with the stocks in your portfolio serving as collateral. You'll pay interest on the borrowed money, and there are some inherent risks involved with investing on margin that you should be aware of.

On the other hand, if your goal is to save money for retirement, an IRA is the best bet. Traditional IRAs can get you tax deductions when you contribute to them, but you won't be able to use your money until you're 59-1/2. Contributions to Roth IRAs don't give you a tax benefit when you make them, but qualified withdrawals will be tax-free. Plus, you can withdraw Roth contributions (but not your investment profits) whenever you want. Finally, if you're self employed, there are some special options for you, such as a SIMPLE IRA, SEP-IRA, or individual 401(k). You can read through a more thorough guide to help you pick the best IRA as well.

2. Compare the costs and incentives

It's also important to review the brokers' full pricing schedule, particularly if you plan on trading anything other than stocks (options, funds, bonds, etc.), as these often come with

HOW TO OPEN A BROKERAGE A/C?

:-Bhumika Kedia {CRO 0521823}

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 5

their own costs. Finally, many brokers offer incentives in order to attract business, and you don't need to be a millionaire to take advantage of them.

3. Consider the services and conveniences offered

Pricing isn't everything -- especially for new investors. Of course, all other things being equal, it's best to find the lowest price, but here are a few other things you need to consider when picking a broker:

Access to research – Many brokers provide their own stock ratings, as well as access to third-party research from firms such as Standard & Poor's and Morningstar.

Foreign trading – Some brokers offer the ability to convert money in your account into foreign currencies in order to trade on international stock exchanges. If this is important to you, make sure the broker you choose allows this.

Trading platforms – The various brokerages offer a wide variety of trading software and mobile apps, and many actually allow people to test out their platforms before opening an account.

Convenience – Some brokerages have large networks of local branch offices you can visit for face-to-face investment guidance, while others do not. Also, brokerages operated by banks offer customers the ability to connect their brokerage and checking accounts, transferring money between the accounts in real-time – and may offer some sort of "relationship discount" for doing so. For this reason, it's also a good idea to check if your bank has an online brokerage, even if it's not mentioned here.

Other features – This isn't an exhaustive list, so before you choose a broker, be sure to spend some time on its website exploring what it offers.

4. Decide on a brokerage firm

You've gathered your information about various firms' costs, fees and they conveniences they offer. For each brokerage, you should weigh the pros and cons as they pertain to your investment objectives, and determine the best overall option for you.

5. Fill out the new account application

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You can apply to open a new account online. You'll need some identifying information, such as your Social Security number and driver's license. You may need to sign additional forms if you're requesting margin privileges or the ability to trade options, and the broker will need to collect information about your net worth, employment status, investable assets, and investment goals.

6. Fund the account

Your new brokerage will probably give you a few options to move money into your account, including:

Electronic funds transfer (EFT) – Transferring funds from a linked checking or savings account is a convenient way to fund the account. In most cases, the funds will post to the account on the following business day.

Wire transfer – The quickest way to fund your account. Since a wire transfer is a direct bank-to-bank transfer of money, it often takes place within minutes.

Checks – Acceptable forms of check deposits and fund availability vary between brokers.

Asset transfer – If you're rolling over a 401(k) or transferring existing investments from another broker, that's an acceptable funding method.

Stock certificates – Yes, these still exist. If you have a paper stock certificate, it can be deposited via mail into an online brokerage account.

As a final note, when funding your new account, be sure to keep your broker's minimums in mind. Many have different minimums for taxable accounts and retirement accounts, and they also may have different minimum requirements for margin accounts.

7. Start researching investments

Congratulations on taking the initiative and opening a brokerage account -- your future self will thank you for taking this important step on the road toward financial security. Now comes the fun part: investing. Before diving in, it's a good idea to spend some time learning the basics of how to responsibly choose stocks, bonds, and/or funds, as well as how to create a well-diversified portfolio.

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 7

Theoretical knowledge or practical knowledge alone cannot make you a perfect professional. Both theoretical and practical should go hand in hand to acquire the qualities and intellectual skills of a professional. As swimming cannot be learnt just by reading a book on how to swim, one has to practically jump into the waters to learn swimming, likewise just writing examinations will fail you in the application of theory in practice unless you have done the application practically.

Being into the place of work also makes you aware of all the situations and contingencies and suggests the ways of taking decisions and the manner of reactions in unexpected situations. Thus, this helps in developing communication skills and to articulate effectively with the client and the society.

The age old adage that – Practice makes a man perfect still holds true. Practical training inculcates a disciplined attitude for hard work and develops the necessary skill for the application of theoretical knowledge to practical situations.

Articleship Training not only helps you clear CA Final Exams but also helps build a handsome career. In case you intent to opt for a Job, the Interviewer in the first 2 minutes of the Interview would be able to judge whether you have practical knowledge and have done proper Articleship training or have just cleared the exams by mugging up topics and appearing for exams. All Companies have a heavy preference for Students who have done proper training as they can be put on the job from the 1st Day.

IMPORTANCE OF ARTICLESHIP TRAINING

:- Ayush Agrawal {CRO0561708}

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 8

Shweta Bhagtani

{CRO 0517244}

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 9

MEMORABLE MOMENTS

Mock Test Paper

Bank Audit Seminar

CICASA BILASPUR OF CIRC OF ICAI {APRIL, 2017} 10

NEWS & UPDATES

(1) Following Events are proposed in following month :-

Industrial Visit Indoor Sports at Branch Level Seminar on preparation of ITR Branch level Elocution Competition Branch level Debate Competition Seminar on preparation of CMA/ Project

Report/ GST. Branch level Quiz Competition

(2) Students who are interested in writing articles or post their creative work in the creative section of newsletter can email us at the official email ID of CICASA Bilaspur: cicasabsp@gmail.com. Thank You !!