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BCAS Vice President CA Chirag Doshi’s Message for the Month of October 2022

LET YOUR NETWORK WORK

Here is a question I asked myself – How important is a network in the life of a Professional? When I became a CA and joined a big four and subsequently a corporate, I never realised the need for a strong network.

Active professional networking is vital to the growth of career and knowledge. Building networks involves getting to know more and more people by meeting them in person or over social networking sites. Fostering a long-term relationship and establishing a good professional reputation over time is the key to successful networking.

Networking can provide the right opportunity to build mutually beneficial relationships with other professionals in your industry. Whether you are looking for a job or for a candidate to fill in your vacancy at your organisation, Networking does help a lot.

Having the right contact in your network is the key to success. Here are a few examples of the sources of the network:

  1.  Current and former work colleagues
  2. Schoolmates or study groups
  3. Your Professors/teachers
  4. Friends/family
  5. Members in your industry
  6. Members of relevant industry associations

 

Networking can include everything from a chat at a café, to attending a networking dinner to attending an industry networking event. One may explore the following:

  1. Become a member of Professional associations
  2. Attend networking events, expos, conferences or similar events
  3. Connect with relevant professionals on social media.
  4. Volunteer and participate in community events

A research report states that 79% of professionals believed that their network has played a key role in their career success. Approx. 25% of users of social media networking sites said such sites helped build new business partnerships for them.

 

Benefits of Networking in your professional life:

  1. Helps strengthen your professional contact: Networking is about sharing, not taking. It is about helping one another toward achieving goals.
  2. Helps built new ideas: Network could be an excellent source of new ideas or solutions to your problems. Vice versa offering good ideas also helps you build your network bigger
  3. Job Opportunities: social media groups and sites help you get better access to job opportunities. Reference is the best source of getting hired faster.
  4. Career Advice: network supports getting advice from experienced peers or seniors
  5. Confidence building: stepping out of your comfort zone and talking to people at networking events helps boost confidence in your communications skills.

Start building your network and here are some tips for networking:

  1. Start networking before you need it – Network requires built-in trust and long-term relationships so start as early as possible
  2. Have a plan – before you visit any event identify what you can bring to the table, and what are your strength and weakness and prepare yourself accordingly
  3. Forgo your personal agendas – be open, friendly and honest
  4. Connect the dots – identify the common connections and build your network
  5. Follow up – once you conveyed someone to connect after the meeting, please follow up and do connect.

 

Your Network is your true Net Worth – Porter Gale

With the above thoughts of letting your network work, I would like to wish everyone a very Happy Deepawali and safe holidays.

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Events

A. LECTURE MEETING ON SPIRITUALITY IN PROFESSIONAL LIFE

On 12th July 2022, BCAS organised a hybrid lecture meeting on “Spirituality in Professional Life (for inner peace, self-sufficiency & abundance)” by Swami Swatmananda.

Swamiji also discussed the importance of ‘mental health’ and explained how to conserve mental energy. The best way to live life is to have no regrets about the past and no anxiety about the future. Methods to keep up the mental strength: deep breathing, solving logical puzzles, counting backwards (like 50 to 1), do not ask ‘why’, instead ask ‘how’, and meditate.

Visit the link for more details: https://www.youtube.com/watch?v=FF9Qz9i9OzI

B. SEMINAR ON TAX AUDIT REPORTING

With numerous changes and nuances relating to Tax Audit, the Taxation Committee of the society organised a seminar on Intricate Issues relating to Tax Audit Reporting on 19th August 2022, in hybrid mode. The seminar comprised three sessions and was conducted in person at the BCAS office and simultaneous through the BCAS online hybrid learning platform.

C. WORKSHOP ON PROCESS AUTOMATION UNDER GST

The Indirect Taxation Committee of BCAS organised a half-day Workshop on Process Automation under GST on 10th September 2022, at Jolly Bhavan.

The workshop was directed at how to reduce the time involved in preparing GST Returns and other related compliances using Robotic Process Automation (RPA), a business process automation technology based on metaphorical software robots (bots) or artificial intelligence.

D. BLOOD DONATION CAMP & DISCOUNTED HEALTH CAMP

As part of the Azadi ka Amrit Mahotsav celebrations, the BCAS Foundation, along with the SPR&MD Committee, organised a ‘Blood Donation Camp & Discounted Health Check-up Camp’ on 20th August 2022, at the Brahmakumaris’ GHRC BSES M G Hospital.

E. FELICITATION OF YOUNG CAs OF MAY 2022 EXAMINATION

A special event was organised for the freshly qualified Chartered Accountants of the May 2022 final examination on 10th September 2022, at the BCAS Hall under the aegis of the Seminar, Public Relations & Membership Development (SPR&MD) Committee.

Visit the link for more details: https://www.youtube.com/watch?v=bdubHfRWygw

F. IESG MEETING – FREAKONOMICS

The International Economics Study Group of BCAS held a meeting on Freakonomics on 14th September 2022. Freakonomics is a ground-breaking collaboration between Levitt and an award-winning author and journalist, Stephen J. Dubner.

Thank You!

With Best Regards,

CA Chirag Doshi
Vice President

Please feel free to write to me at vp@bcasonline.org |