Projection For a Chartered Accountancy Firm

Projection For a Chartered Accountancy Firm

Business Description:

Chartered Accountants work in a variety of business sectors and roles, ranging from financial controllers and directors to CEOs. In-practice Chartered Accountants provide professional financial services to businesses. Auditing, taxation, accounting, financial analysis, risk management, and financial structure advice are just a few of the many services offered by Chartered Accountancy Firms.

Auditing, tax preparation, accounting, financial analysis, risk management, and financial structure advice are all services provided by chartered accounting firms. Every company, regardless of size, requires a CA - Every entity, large or small, requires a financial expert on whom they can rely.

Short-term Goals

• 
  Adopting new technology
  
• 
  Process improvements
  

Long-term Goals

• 
  Market expansion
  
• 
  Diversified service offering
  
• 
  New client types
  

SWOT Analysis:

Strengths

• 
  Flexible Performance in typical situations
  
• 
  High Speed (due to the introduction of easier compliance)
  
• 
  Capacity to handle various types of tasks simultaneously
  
• 
  Goodwill in Public Mind
  

Weakness

• 
  Non-Standardization of Faculties (Resulting in poor knowledge base of CA’s)
  
• 
  Lack of Communication Skills
  
• 
  Lack of Day to Day Time Management (When the firm has a multitude of clients)
  
• 
  Overloaded Work, i.e., pressure from client and meeting taxation deadlines.
  

Opportunities

• 
  Increased No. of Articled Clerks and Complexity of Audit Work
  
• 
  Advance Scheduling of Time.
  

Threats

• 
  Lacking time management
  
• 
  Lacking advance learning of Computers
  
• 
  Lack of trained people
  
• 
  Increasing complexity in the tax laws, FEMA, auditing etc.
  

Financial Projection:

References:
https://www.caclubindia.com
https://www.bajajfinserv.in

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