Hi readers, my name is Mohit Gupta. I am a chartered accountant, a law graduate, with a wide 25 years of work experience, as a Chartered Accountant (CA) – similar to a CPA in the US, an entrepreneur and in the industry, managing processes as well.
You must be wondering why I picked up this topic, and what do I wish to cover in this blog.
A few years back, I was doing some loan processing work for a premium bank, where a CA firm certified the income of an “individual” by adding shares from 4 HUFs (Hindu Undivided Family). As accounting professionals in India, we know that an HUF is a separate legal entity. In another case, We had a senior CA firm certify the accounts of its client, showing the construction of a new room in the profit and loss account.
When I moved into the outsourcing industry, I interviewed a whole bunch of people, and though some of these resources were commerce graduates, they did not understand the basics, were confused by debits and credits and the double entry system.
I also had a bunch of students approach me to help them with their accounting studies. All this and more prompted me to think of a blog on simply accounting, a tutorial series to assist a wide group of accounting students and professionals.
We will be doing Tuesdays and Thursdays for this stream.
Enjoy reading. Your comments, feedback and queries are welcome.