Learning Technology is now a must for the everyone. This presentation is for building an overview as to what the CA should be aware of as changes in the technology? How Information Technology impacts the accountings and tax consulting profession? What are the upcoming opportunities for the Accountants due to emerging technology? The idea is to sensitise the profession with the need and importance of technology in the day to day professional practice. This is based on the session delivered at Valsad amongst the Accounting community. This was organised by the jointly by the esteemed bodies Valsad Industrial Association, The Chamber of Tax Consultants and the WIRC of the ICAI.

2. What has changed ?
Before
Working is not correct
People are not trained
Too much of the queue
Termite has spoiled the
Record
After
Software is not updated
Server is slow
Website is not working
Virus as corrupted the data

4. Are we at the “Whatsapp” Movement
30 Bn Whatsapp per day v/s. 20 Bn SMS
Run by 40 people team

5. Digital Authentication made easy

6. Jandhan Yojana 20 Cr. Bank Accounts  30 K Cr. of fresh Deposits
1 Bn Adhar Cards - > 1 Bn Bank Accounts - >
11 Payment Banks Licensed
Mobile Wallets

7. Highest no. of e-commerce transactions are happening in India
40% of the e-commerce transactions happening on Mobile Phone

8. E-Commerce is expected to grow 4 times in next 5 years

9. IF an IITan can Disrupt
What is stopping a CA from doing so?
It’s the MindSet NOT the Skillset

10. Internet of Things

12. Is This the END??
NO
It’s The DAWN of the GenNxt CA
“THE CYBER ACCOUNTANT”

15. What’s Cloud Computing
Storage at external location
Processing from the external place (Devise agnostic)
From anywhere (location agnostic)
Pooling of resource
At generally on “Pay as You Go” Model
Building a niche for management of infrastructure

16. Cloud benefits - For an user
Saves Upfront cost
Saves Upgradation cost
Management bandwidth
Plug and Play model
Allows Quick Scalability

17. The Cell Phone is much More than
Call, Mails and Massages
It’s a
A Networking Ground
A Library
A Collaborator
A Shop
Even A Doctor
A Personal Assistant
A live Map

19. Must know Useful Mobile Apps
Various Acts and Rules
ICAI App
Computation of Tax
Case Laws and Judgments
Accounting and recording

20. Tips for Social Media
Have a effective Linkedin Profile
Post your views on the right forums
Create a KIT Broadcast
Like and Share interesting stuff
Start a Blog

21. Optimization
Predictive Modeling/Forecasting
Randomized Testing
Statistical Analysis
“What’s the best that can happen?”
“What will happen next?”
“What happens if we try this?”
“Why is this happening?”
“What actions are needed?”
“What exactly is the problem?”
“How many, how often, where?”
“Why did it happen?”
Alerts
Query/Drill down
Ad-hoc reports
Standard reports
Predictive and
Prescriptive
Analysis
(the “so what”)
Descriptive
Analysis
(the “what”)
DegreeofIntelligence
The Value of Information

22. Software & Hardware history of typical CA firm
Year 2005 2006 2009 2012 2014
Tax Base Gmail Google Calender Drop Box Papilio
Advanced Excel Google Docs IPRO Canvass
ST Easy CMS website
KDK

23. Just because we can afford
something
We can’t Steel it.
Paying for License is to give credit to those who have
made the brilliant piece of Software
Software Piracy is a Crime!!

24. Ideal Configuration
• Pentium Dual Core Processors
• Ram – 2GB
• Sturdy Body
• Cost ~ Rs 25,000
Laptops
• IBM
• RAID
• For 5 to 15 users – 4 Core
• For 15 to 25 Users – 6 Core
• For 25 + users – 8 core
Server
Thin Clients are Frugal way of working on the network and cost ~ Rs 6,000

25. Tips to avoid tangles
•Whenever you buy the hardware, make sure
you install proper licensed software – Make
sure you use commercial license for office
•Buy license from authorized dealer only
•Never install unnecessary software
•Put a sticker on PC for the license details

26. Opportunities
Finance Process Outsourcing
Process Consulting
Integration Consulting
Transaction Advisory
Data Analytice
Forensic Accounting
IS Audit