Why just girls ??

Hardly a week left for real cold blooded preparation. Everyone is burning midnight oil. There are no second thoughts left for anything else .the clock is ticking and every seconds reminds of success. Some might be dreaming and visualizing themselves as half Ca or CA.

But some might be facing a dark story too. And I'm here to talk about that  only right now. What to do when even your closed one don't understand you. They don't even hesitate discussing marriage and searching an alliance for a girl during her exams Why they just live in their 80s. 

I felt numb, my heart sank when I heard a bright girl ,who had excellent track record in her studies, saying she is quitting CA. I got speechless after listening those words. I can feel her heart fell into stomach while saying those words.tears were shredding from her eyes. I was unable to grasp that she is saying all this but the one and only reason she can say was "she is just a girl" 

I mean what the hell .... In which society we live ... 

A girl got raped because she was not dressed properly.

She can't go outstation audits because anything can happen to her as she is  a girl 

She can't do late night parties as it won't go with the image of a decent girl

She needs to get married and should settled early in her life at the sake of her career because she might not get a good boy if her age crossed a certain point. 

I can understand that every parents want their children to get settled in their life. But the thinking that a girl has done their graduation and her marriage is a must do in a list. She might get a second chance for her dream in her second home. I agree many girls have this beautiful chance ...... But what if , she didn't got any ? 

Even if the girl leaves her home after marriage ... her soul, her values always remains attached with her parents. What if they can't understand this pain .....that if you( parents , being the caretaker to everything,) her own world can't understand her aspirations, then how she is supposed to think that new famlilies' people will listen. 

May be she hold herself up , keep her spirits high in front of others. But ultimately you are leaving her helpless by not understanding her , by braking her trust that you'd always be there with her in hard times. 

You are breaking her from inside, a broken heart which is beyond the repair.....

Alas! I know I can't change that girl's future.... The one and only advice I could give to her is don't give up and loose your hope even you have to fight against your parents for their rigid thinking. 

I know you might be thinking that this lecture was not really deserving or we don't think like this .... But still this article is dedicated to everyone out there ....you will be also a parent some day where you will be in same situation or you might be the victim of above example or may be you could be the one who can console such persons who are having such kinda thinking that ... 

                              "A girl is never a burden "

Regards

Renu

Are you Struck

Are you struck ?

Uff mere dil me thodi thodi si jagah thi ,uff tune bin kiraye ye jagah li, kuch keh bhi na saki ye kaisi bebasi ..... uff ...uff  ... mere dil me :P

Exactly tension is just like that , always came unwontedly and yet so welcomed by us. Exams are near and many more things still need to be done. And boom! You can’t even realize that you got struck upon something. When you are in tension, you think of multiple things, I need to do this, i will do that and then this must be happen by the time and even a simple friction delay seems like hell.

You wanna do many more things as per your capacity ... but hey hey! You are struck with books in your hands 24 hours a day with almost nil or say half production of your capacity. The long term pending chapters of costing are still in the “to do list”

You have less time and so more to work but still why can’t you perform at your best.... Why the hell you are struck when you are fully aware of it.  Let’s find out how tension plays its part in your half pending aspirations.

1.       Believe :-  You can achieve only if you know how to believe. You know you have less time to do. A little time to achieve the perfection. Somewhat somewhere your mind starts becoming rational and gauge your performance according to the stressed time  and its not upto the mark. This scenario seems like end of the world for you. As there is not even a single chance that you can go ahead  and do it better.

“Don’t let your believe shatter no matter what happens”.

2.       MAP :-  You may fight with your believe but you still wanna move ahead and really wanna excel in doing what you are required to do. Fear of exam is taking its toll, its not a good time to evaluate and criticize yourself for your mistakes. And then with a single ray of hope, knowing your low performance level, you plan to go ahead. A minor fault in your planning is enough to crash your confidence.

“The best time to have the map is the before you enter the forest. Don’t plan each and everything but still don’t let any loopholes. Your planning should always strike a balance between the available time and your capacity in that period rather than the pressure of things to be accomplished in that time frame.”

3.       Accomplishment of other things :- Sometimes you can’t concentrate on main just because you think that you should perform your task in hand. Once its accomplished , you’ll be doing your main work. And bang! Here’s the critical mistake lies, sometimes these things haunt your mind so much that you are not ready to give upon them unless its’ completely done.

For example ,you are solving a cash flow problem in an exam hall, you know you have 3 hours to accomplish your paper. And suppose cash flow was your first question which contain15 marks, You know your skill. You believe you are simply perfect at it. And once you have enough confidence of being the mast of cashflow, you start solving the question. Now the question should be end in 30-35 minutes. But you spent your 5 minutes thinking  that you might cover your whole question correctly. Alas! Things always don’t go in required way. DAMNNNNNNNNNN ...........  something went wrong with your methodology. And your whole question is wrong now.

Just tell me what you gonna do , invest other2.15 minutes for rest of the questions or just be adamant to finish your task in hand ! Obviously your focus will shift to other question in spite of the fact how master you are of cash flow.

Same thing happens with our last days or initial preparation too. In initial preparation these things don’t matter but last time rush is truly dedicated to all such mistakes. So choose wisely 

“Because sometimes your strength can be your weakness or vice-versa”

Lastly I can sum up easily:-

“It’s good to be adamant but it’s not always worthy enough to be struck as success lies on the smoothness of the road not on a roadblock”

Regards
Renu 

Memorizing technique

Even though girls have natural tendency to gather more information and that’s why they are good at describing things and memorizing more things whereas a man’s mind has comparatively less sensory points that’s the reason why they are normally not so good with remembering things in detail and describing the same thereto. On the other hand boys have a good focus which girls don’t have as they get distracted easily; well that was a general fact, exceptions are always there.

Above Para was written just to make you feel good and about telling you what the best you can do naturally :P

Alright let’s move on to our next philosophy, memorizing things ... helping yourself out with remembering the bullet points, following can be the ways:-

1.       Mnemonics: - The easiest way to remember things as you can cut short the things in the manner you feel the need, and good to memorize the same at last point.

·         The only loophole of this simplest technique is you can’t go limitless with it.

·         After a limit, you’ll either mix up everything or start forgetting the same.

·         Best thing is apply this technique only for the question you feel most difficult or complicated one.

2.       Mind Map: - It’s simply about creating the big picture of a topic. And connecting with as many things as you can for example :-

·         Cobit has 5 principles and one of those includes holistic approach which is connected with its 7 enablers such as processes, organization structure and so on.

·         You don’t need to create a real mind map but you can still make a good idea in mind  or otherwise if needed can make the diagram in any shape or way you desire.

·         You can simply apply this technique on every easy topic. As ease of process would help you to connect things in much better way.

3.       Scribbling :-  well, this is just one time method. As you can’t use this method twice, if you do so... na its not worthy enough.  Scribbling is all about creating a rough draft of everything  or say just needed

·         You can use this technique mainly in revision time.

·         Scribbling is all about your recalling power, so every time a new scribble would be more productive than using an old one.

·         You can easily use this formula for almost everything, every question and the chances of getting confuse would be probably nil, if you use this technique in right manner.

4.       Vocabulary: - This is the most powerful method and indeed a long term idea. And obviously take long time to succeed. As now you focus on just complicated words and try to memorize them. 

·   For other things, you would use your own writing style.

·   This method is mainly useful for the last category of person in my revision methodology as they like to explore the more.

·   Normally, the learners can’t apply this technique as it’s based on slow understanding.

Well, that’s all for now. Hope it helps. Methods and techniques can vary person to person and surely there would be such other unique and creative ideas which I might not have explored. So any suggestions, ideas and comments are truly welcomed.

Regards

Renu

COBIT

Introduction :-

CONTROL OBJECTIVE FOR INFORMATION AND RELATED TECHNOLOGY (COBIT)

Cobit  is a comprehensive IT framework from ISACA which was launched in 1996. It provides guidelines for auditing of information system for auditors. COBIT has revised timely from 1996 and latest version is known as COBIT 5 which was released in 2012.

Risk Management In COBIT 5

COBIT provides best practices for IT system development and use.In 2012, latest version of COBIT 5 includes a separate domain on governance of  IT to ensure enterprise governance and risk management.

In the short and sweet manner, I’d say COBIT 5 divides its practices into mainly 2 areas Governance and management.

The governance domain is Evaluate,Direct and Monitor (EDM) and it has following practices:-

1.       EDM 01 Ensure governance framework setting and maintenance.

2.       EDM02 Ensure Benefit delivery

3.       EDM 03 Ensure risk optimization

4.       EDM 04 Ensure Resource optimization

5.       EDM05 Ensure Stakeholder’s transparency.

And the management Domain contains 4 domains :-

1.       Align, Plan and Organise  (APO) 12

2.       Build, Acquire and Implement (BAI)

3.       Deliver, Service and Support (DSS)

4.       Monitor, Evaluate and Assess (MEA)

A combination of EDM03 (Risk optimization Prospective) and APO 12 (Manage risk) cover the entire life cycle of risk management from both “governance” and “management” prospective.

Key Management Practices of IT compliance

COBIT 5 provides a key management practice provides external rules and laws to ensure the compliance. These are:-

1.       Identify external compliance requirements  :- 

 It means organization should constantly  look out the changes came in local laws , regulations  and need to be compiled from IT perspective.

2.       Optimize  Response to External Requirements :- 

In this step, the organization wouldn’t only review and adjust its policies according to the changes identified in step1 , but would also search and look out the comparatives. And evaluate its policies with Industry’s standards.

3.       Confirm External compliance :-

Once the principles and policies are set, it’s time to confirm their compliance. Are they in alignment with all the IT practices defined and the comes in the purview of Legal framework.

4.       Obtain Assurance of External compliance :-

There is difference in work getting done and ensuring about its quality. And such assurance comes with certification and audit for compliance and adherence to regulation, policies and standards.

Principles  of COBIT

There are 5 principles of COBIT which are based on 7 enablers of COBIT Framework.

1.       Meeting shareholder’s needs :-

Every enterprise runs for creating values for its stakeholders. COBIT describes the objective of the organization should be customised in such manner that they don’t only create values but also fulfils IT related goals.

2.       Covering the enterprise end to end :-

COBIT just  not only focus on IT governance but also on organization governance. It describes that IT assets should also be treated in the same manner like an organization asset and protected thereto.

3.       Applying a single Integrated Framework :-

COBIT 5 is the single integrated framework which align other standards and framework like COSO and ISO 27001 which ultimately creates a strong governance and management framework.

4.       Enabling a holistic approach :-

COBIT 5 describes 7 enablers upon which its principles are based and they are named as following

·         Principles, policies and Framework

·         Processes

·         Organizational structures

·         Culture ,ethics and behaviour

·         Information

·         Services, Infrastructure and applications

·         People, skills and competencies

Holistic approach focuses  on balancing  the above enablers to achieve the organization objectives.

5.       Separating Governance from Management :-

In most organization governance word is used for the BOD  and works under the leadership of chairman and management represents to executive management which works under the leadership of CEO. COBIT differentiates both of them in a beautiful manner by providing separate domains for governance {EDM (5)} and management (4) .

In short, COBIT includes such best practices in such an aligned manner which helps in attaining  governance , risk management and compliance. (GRC) 

Revision in my style

Revision is surely an important criteria for successful evaluation of your preparation. In case, you are sincere and have read your whole course 2-3 times and likes to have chits for revision, then this article is not for u as you can prepare in much better way.

And those who are completing their syallabus for first time or in the progress of accomplishing, this article is surely dedicated to you . Alrighty be mighty ..... let’s carry on

Revision is true reflection of what you read. And the thumbrule is “less you read, better you revise”

But But But ..... as we  all know our textbooks don’t cover  tiny miny syllabus. Its  like pacific ocean covering the whole world of our mind . So what we should do :-

Let’s do it my style. First of all ,You must know what kinda person you are and what kinda revision style will suit you. I can classify revision in 3 styles :-

1.       Chart style :- This type of persons are really relaxed with their study preparation even at last minute. Don’t like hyper tension and havethe attitude of “My marksheet is not enough to define me” . The persons who first like to overview the syllabus. Then count the chapter pages. And like everything in simple, sweet and shortest way. They can be  described as visual learner.So the best way of revision for them is to connect the chapter summary or complex question in form of charts,flowcharts ,a simple diagram,beatiful scribbling, means whatever look intersting and short at the same time.  As you are more concerned with overview rather than thorough study.

2.       Bullet style :-  This type of persons are bit more tense and get hyper active and hyper tense in case of things don’t go well. Stress takers when preparation is behind the timeline. They want to have the overview and deep interest in same but are more concerned with presentation and legible writing style, normally have the attitude of  risk-aversions , like to play on safe side of road. Then don’t follow the first style until and unless it’s necessary. Try to mesmerize things in bullet style or say remember main points in your style. It  will help you in regaining confidence and you will concentrate only on your problem areas. Bullets are like hints which you need and for the rest, you can make a way.

3.       Big Picture: - these kind persons are really terrible at revision. I also fall in this category.  They like to explore and search. Either they do it with all their heart or don’t do at all. They are not concerned with their presentation or overview. Their main focus is to have conceptual understanding. And in case, they ever try to compromise on that front ,face real hell. As they read so much that energy to revise doesn’t remain at all.

a.       Grab your concepts first no matter how many references you need to read or persons you need to ask.

b.      Get back to your main book.  Connect the idea of what you have understand with the main book.

c.       Cut the irrelevant portion completely. Because even a slight view of the same will tempt you to read that.

d.      Underline in different styles and make sure you never ever try to have an Bird eye overview as next time you will force yourself to read again.

I’d say these kinda persons are real hard workers but their stupidities can make harm them more than institute can. So be cautious.

And lastly I’d say

 (A calm mind is always more powerful than a stressed mind, so doing it with all your smile and style.)

Regards

Renu 

Section 54 GB :- Capital Gain on trfr of Residential property not to be charged in certain cases

Section 54 GB was introduced by the financial act 2012. It applies to an Individual and HUF which includes resident as well as Non- resident. 

1. Only long term capital Gain is considered. As this section applies to Resident as well as Non-Resident, hence the capital asset include the property in India as well as outside India.

    

2. For claiming the deduction, the assesee must  subscribe the Equity shares of an eligible company before due date of furnishing of return e.g. 31 July or 30 Sep as the case may be.  

    

3. And such eligible company must utilise the subscribed equity shares amount for purchasing of new asset within a year from subscription. for example if assessee has subscribed shares on 29May2013, then the company must utilise this amount before 29May 2014.

   
   

4. If Net consideration is less than cost of new asset then whole amount of LTCG would be exempt otherwise the proportional deduction will be allowed

           Long term capital gain * (Cost of new asset/ Net consideration )  would be exempt. 

 

   5. equity shares and New asset would be lock in period of 5 years. 

 

   6. The proportion of capital gain which was not utilised would be taxable.  

 

Eligible company :- 

1. The company which was incorporated in the previous year in which the capital gain arises.  suppose if capital gain arises on 30 Apr 2013. then previous year would be 1-4-2013 to 31-3-2014, means any company which is established in this above time period would be eligible for deduction.

2. The company should be engaged in the manufacture of an article or a thing. 

3. The assessee must have more than 50%  of share capital or voting rights after subscription as the case may be. 

4.The company should come under the purview of Micro, small and Medium Enterprise Act 2006.

Be Passionate

Whenever we think about the word “Passion”, we start to imagine a person who has love and burning desire to achieve his goals, aspiration. It’s something that’s more than words. There are many persons including me have asked ourselves “Why are we not passionate towards our goal”? 

There may be many persons who had tried out “The secret” formula, the power of visualization and imagination and all efforts but still everything turned out to be a case of sour grapes. 

Let’s just do a little exercise...

“Think about any moment when you have thought and said it and felt the same that I wanna be CA”

Can you recall that moment?

Bang on! You hit the bull’s eye.  

 

Aham... wait!  This picture is not anymore clear in my eyes.  It’s not my cup of tea now.  I won’t say you to count all the benefits of achieving your aim. Because you may say I wouldn’t do that for all the tea in china.

So the actual point is what makes you passion keep going? Why can’t we just be consistent towards our passion? 

 

There are 3 factors which leaves a deep impact on our passion:-

1.       Effort

2.       Believe

3.       Success 

In short if any of the factors is missing in the coordination then surely you will lose your track. Let me illustrate this with a simple instance

Suppose you complete a big chapter after spending 5 hours on it. In between you missed your favorite show/ match or whatever.  Your mind would ultimately calculate the cost and profit balance in subconscious mind.  Afterwards, you will evaluate your performance from the ranking worse to excellent. In case if your rating is excellent, believe will boost up. Otherwise your shaken believe will ultimately affect your dedication toward success.

It’s getting little complicated to understand. Let’s make it easier

You are playing a game say skittles or temple run or Rune master. You play first game. You lose but you know you can do it better by having second bite of cherry. Now this time your performance rose. It’ll ultimately create your interest. The more and more success you achieve, the more you wanna spent hours on it. And ultimately you even forget your lunch while playing the game.  But let’s say you didn’t succeed even on having second bite of cherry. After several failure attempts you would even give up on the game rather than going bananas for the same. And with passing of time, you may even lose your interest up to such an extent that you can’t even clear the easiest level whereas you were challenging yourself on the other side of the road. 

The same case happens with studies as well but we don’t realize it. Rather than focusing on circumstances and other persons/ things and associate our performance with these factors. Let’s just introspect a little.

 At the end, nothing is more enjoyable that getting back your lost passion. Because passion is not just a feeling, it’s a fuel which says your capabilities and you are beyond the circumstances.