Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: empanelment :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARD :: VAT Audit :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: VAT RATES
 
 
« News Headlines »
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter
 How will GST impact the Indian economy
 10 days left to file your first GST return. This is how you do it
 What is property tax and how is it calculated…
 File income tax returns in time to carry forward losses
 Missed the deadline to file income tax returns? Here is what you should do
 Who has to report foreign assets in Indian income tax return and how to do it
 How to file income tax return after due date
 Why you should not rely solely on your income tax return filer, chartered accountant when filing ITR

Accountants may be allowed to advertise
May, 23rd 2008

In months to come, your tax consultants name might carry more snob value than the Louis Vuitton in your wardrobe. Courtesy the new advertising permissions by the professional governing body, the friendly neighbourhood CA can now choose to morph into a super brand.

India-based finance professionals, including CAs and company secretaries (CS) who have been allowed to advertise services and areas of expertise, are set to evolve as a new category in the advertising industry one that is led by an individual as a brand. The decision by the Institute of Chartered Accountants of India to let their members advertise might unwittingly shift the advertising focus to individuals.

According to AdEx India analysis, advertising of financial industry in TV is up 34% during 2007 as compared to the previous year. Adspend by financial sectors in print is up by 10% during the same period and might be the real beneficiary of this decision as CAs may not be allowed to advertise on TV immediately.

It may be noted that of the 35,000-odd accounting firms in the country, 70% are proprietary firms. The decision to let CAs advertise will impact the advertising sector. If an individual can support large-scale advertising, it could emerge as a new category, says Ogilvy & Mather country head (discovery and planning) and regional director (thought leadership) Madhukar Sabnavis.

According to him, advertising in India has largely been corporate and organisation-led. For example, even political advertisement has not yet come into mainstream and is more focused on the organisation rather than an individual.

Other industry trackers second the opinion adding that the boom in financial services ad spend will help the subcategory where more individual brands will evolve out of CA consultants. There will be significant impact when professionals advertise. Financial industry is one industry which depends to a great extent on individual expertise.

Also, financial product is one category where common man requires huge help in saving and planning investments. The guidance aspect is increasingly becoming important and hence the advertising around it is likely to evolve. People would want to know of a specialist who is ready to offer guidance services, explains Siddhartha Mukherjee, who represents TAM Media Research Private Limited.

Finance professionals, however, prefer to stay conservative about the immediate fallout. The most significant credential in the profession comprises strong reputation built on integrity, independence and experience, a strong track record. It is, therefore, important to showcase credentials rather than mere publicity or visibility. The new changes should be helpful for professionals to showcase credentials within the code of conduct, says KPMG director (financial services) Sanjay Aggarwal.

Agreeing with him, Accounting Standards Board chairman Amarjit Chopra said that advertising enables ICAI members to project themselves on a bigger platform rather than create a marketing blitz. Initially, only mid-sized accounting and auditing firms are likely to capitalise on this (change of law). Small firms may not come forward aggressively since ICAI might allow advertisements only in print medium, which is very expensive.

The advertisers say that they would be able to enhance the brand value for the professionals. Chandan Nath of Mudra, Ahmedabad, says that ad agencies would help build new brands in the category. We can definitely help individuals and firms build some brand value.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions