Networking and professional opportunities

NETWORKING AND PROFESSIONAL

OPPORTUNITIES

CA ANKIT PANKAJ SANGHAVIPANKAJ P. SANGHAVI AND CO.CHARETERED ACCOUNTANTS

SPECIALISATION

PANKAJ P. SANGHAVI AND CO. CHARTERED ACCOUNTANTS

CONTINUOUS UPGRADATION OF KNOWLEDGE


MULTI DISCIPLINARY SERVICES


GLOBALIZATION


OTHER FACTORS

IMPERATIVENESS OF TECHNOLOGY

RISK MANAGEMENT

SERVICE ORIENTATION

NEED FOR SCALE UP


1975 1990

NETWORKIN

GPANKAJ P. SANGHAVI AND CO.

CHARTERED ACCOUNTANTS

NETWORKING

Networking is an association of different Firms / Members who identify a common name [ Brand ] and adopt collaborative approach yet retain their own identity and ownership of individual practices. The individual participants continue to manage their own practice but, adhere to the standards established by the Network. They share common practices, procedures, and knowledge base.


FORMS OF NETWORKING

• Means a network registered with ICAI

• Objective is to use collective resources of the affiliates

Formal• Means a practice to refer

professional work by a firm to one of its associate / affiliates

• Objective is not to pool in their collective resources

Referral


REQUIREMENTS. . .

Name of the Network: No compulsion of a distinct name

Use “ & Affiliates” in place of “& Co. /& Associates”

Application to be made in Form A

Registration:A Formal Network needs registration

Application in Form B

No requirement of registration for Referral Network PANKAJ P. SANGHAVI AND CO.


. . .REQUIREMENTS

Consent of Client: Consent to be obtained by the Network from the client to engage an affiliate in discharging the professional assignments

Byelaws:A Frame work of Internal bye laws of the network is required for Network’s requiring registration


GROUNDWORK . . .

A common Vision of the Firms / Individuals coming together

Network Philosophy

The Mission should be definedCommon Agenda

Code for SuccessEthical

Guidelines

A common Brand NameBranding


. . . GROUNDWORK

Ensure continuity of the network. The Network should not belong to any one

Institutionalization

A formal Structure should be formed. Network Structure

Detailing the terms of the NetworkProfit Sharing Methodology

Defining the role of everyone involved

Roles and Responsibilitie

sPANKAJ P. SANGHAVI AND CO.


OPERATIONAL PROTOCOL . . .

Avoid creating immovable properties

Use Client delivery trackers

Define Cost Allocation


. . . OPERATIONAL PROTOCOL

Knowledge Sharing through Database

Common Pool for Research

HR Processes to be put in place since inception


MEETING OF MINDS . . .

No ambiguity with regards to Key areas of such as Sharing of Profits, Roles, Responsibilities etc.

Power Centre to be identified. Total power should not rest with single partner/individual

Committees of Partners to be formed with ultimate powers resting with the entire Partnership

Continuity and Succession plans to be put into placePANKAJ P. SANGHAVI AND CO.


. . . MEETING OF MINDS

Norms of admission of new partners to be defined

The process to be followed in case of retirement of partner to be identified and documented

Control on Partner Costs

Administration of the Firm should be carried out through a committee of senior partners.


NETWORKING DETERRENTS . . .

Finding the Right Fit

Lack of Vision

Trust


. . . NETWORKING DETERRENTS

Reluctance to share Specialization

Fear

Conservative Thinking


KEY SUCCESS FACTORS. . . The Networking Firms Mission, Vision, Values, Leadership Alignment, and Goals supporting the desired changes should help to formalize and make permanent the new ways of doing work

Finding the Right Fit

Lack of Vision Trust

Reluctance to share

Specialization

Fear Conservative Thinking


SUMMARY . . .

Develop a Vision

Identify Firm / Firms for Networking

Meeting of Minds


. . . SUMMARY

Common Goals

Agreement

Trial Period


PROFESSIONAL OPPORTUNITIES


MANAGEMENT CONSULTANCY

The Goal of a Management Consultant is to make the

flow of processes, information and funds which support

the highest visibility and efficiency across the value

chain, transparent to users. It's all about getting the

right information, in the right format to the right person,

at the right time, at the pace business demands.


ERP IMPLEMENTATION

ERP Solutions that are custom-built to suit the needs

of all enterprises and each individual within. Its

comprehensive, enterprise specific solutions enable

businesses to outclass competition through highly

competent operations and par excellence

performances at all levels.PANKAJ P. SANGHAVI AND CO.


ACCOUNTING AND COMPLIANCE

To provide consistent, repeatable single solution approach

that integrates all the business processes operating

across different locations and functions. This ensures that

operational information produced locally; from forecast to

financials, cascades upwards into a single consolidated

view that accurately reflects the organization's

performance.PANKAJ P. SANGHAVI AND CO.


FINANCIAL MANAGEMENT AND ADVISORY Financial Management may be defined as the Art and Science of Managing Money

There are various range of services as a Financial Consultant :- Structuring Fund Requirement plan for meeting Project needs

- Monitoring and Reviewal of Sick units- Business and/or Financial Restructuring- Merger and Acquisitions- Working Capital Management- Fund Syndication- Transaction Management PANKAJ P. SANGHAVI AND CO.


VALUATION

The dynamics of an economy is compelling business

enterprises to tap capital market and/ or private equity

investors; to venture into acquisitions, restructuring,

strategic alliances; to offer stock options for retention of

intellectual capital, etc. All these endeavours raise a very

crucial issue of determining the value of an enterprise.


INTERNAL AUDIT

Internal Audit is the continuous and critical appraisal of the

functioning of an enterprise relating to its Profile,

Processes, Practices and Planning. The Internal Audit

process adds value and improves the efficacy of the

enterprise's business operatives. It analyses, evaluates,

and recommends the measures to enhance business value

and bolster the overall governance structure; strategic risk

management and internal control system of the enterprise.PANKAJ P. SANGHAVI AND CO.


TAX ADVISORY AND REPRESENTATION

As an Individual taxpayer, Corporate or Trust,

the financial affairs ought to be managed

both, Tax effectively and in compliance with

the Law.


MANAGEMENT AUDIT

Management Audit is a process of critical monitoring and examining the conduct of business from Management level to the Shop level, in order to ascertain whether sound management prevails throughout the organization, thus facilitating the most effective relationship with all its stakeholders or the governing authorities and the most efficient and seamless functioning of Business processes internally.


COMPLIANCE AUDIT

Continuous Changes are making

Statutory Codes increasingly complex and

incomprehensible, and are thus increasing

the risk of making expensive mistakes.




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Networking and professional opportunities