Vikas has completed his CA by clearing a specified examination by The Institute of Chartered Accountant of India. Nobody can become a CA without the step.He is working as finance manager in ABC Limited which is involved in manufacturing of tiles. There are other chartered accountant to this company but Vikas has the reputation of creating department due to which performance of the company is getting better day by day. a) Mention the characteristic of profession discussed above application of existing theoretical knowledge which he has gained during his education He integrated the activity of Finance Department which production and sales b) At what level of management Vikas is working in the company c) Which nature of management is mentioned above d) Name the concept of management rich Vikas is performing by integrating the activity of his department with other department give two importance of this concept.
Answers
Answer:
Job in a CA firm
Internal Auditing.
Tax Auditing.
Forensic Auditing.
Career in Accounting and Finance.
Taxation Advisory (Both Direct and Indirect)
Statutory Audit under applicable statutes.
Managing Treasury function.
Explanation:
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Answer:
a) The characteristic of profession mentioned in the case is that Profession is based on specialized, theoretical knowledge.
b) Middle level
c) The nature of management mentioned in the case above is Management as a profession.
d) Coordination
Explanation:
(a) Profession is based on specialized, theoretical knowledge-
- Professionals provide specialized services based on theory, knowledge, and skills that are often unique to their profession and are generally beyond the comprehension and/or capability of those outside the profession.
- This specialization may sometimes include access to the tools and technologies used in the profession.
- Also, profession is an art , there is not set pattern to apply the professional knowledge in a situation. A professional applies his expertise as he may deem fit by analyzing the situation and that is why CA Vikas is able to create department due to which performance of the company is improving everyday.
(b) Middle Level of Management -
- This level of management includes department heads such as the purchase department head, the sales department head, the finance manager, the marketing manager, the executive officer, the plant superintendent, and so on.
- People in this group are in charge of carrying out the top-level plans and policies.
(c) Management as a Profession-
- All services are based on a well-defined form of education that can be obtained through education.
- Restricted entry: Entry into a profession is defined by an examination or the completion of an educational degree.
- Professional community: All professions are affiliated with a professional association, which controls entry, issues training certificates, and expresses and supports a government system. To be eligible to study in India, lawyers must join the Bar Council, which monitors and regulates their actions.
(d)Coordination-
- Coordination is the force that holds all other management functions together. Coordination is implicit and inherent in all organisational functions.
- It is the process of organizing people or groups so that they can work effectively together
Hence, from the above discussion we can conclude that CA Vikas, being a professional is utilizing all his knowledge and expertise in improving the performance of the company, he is a good manager as he is able to perform coordination of activities of different departments effectively.
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