Solving the Jigsaw of Financial Solving

“If you take control of your finances today, then you won’t be a victim of them tomorrow.”

— Emily G. Stroud

On the 6th of May 2025, the Bhawanipur Education Society College organised a joint seminar with the Board of Studies (Academics) of the Institute of Chartered Accountants of India (ICAI), India’s largest professional accounting body under the administrative control of the Government of India. The event was the third in a line of joint seminars, the previous two being conducted in January 2024, titled “Nuggets of Professional Success”, and the second conducted in April 2025, titled “Being New Age Technology.”

This year’s seminar, “Solving the Jigsaw of Financial Intricacies,” was hosted by the Eastern India Regional Council  (EIRC) of the Institute of Chartered Accountants of India. It was a day-long event that began at 11:00 A.M. in the Jubilee Hall within the college premises. The seminar began with the participation of more than 150 dedicated student participants, more than 15 college faculty members and a group of students from the ICAI.

INAUGURAL CEREMONY:

The seminar was inaugurated with the auspicious lighting of the ceremonial lamp, where Prof. Dilip Shah, Rector and Dean of Student Affairs of The BESC; Prof. Minakshi Chaturvedi, Vice Principal of the Department of Commerce (Morning) of BESC; Prof. CA Vivek Patwari, Coordinator of the Department of Commerce (Morning) of BESC; Teacher In-Charge, Dr. Subhabrata Gangopadhyay; CA Mayur Agrawal, Vice Chairman of EIRC of ICAI and Chairman EICASA; CA Vishnu K. Tulsyan, Chairman of EIRC of ICAI and CA Rohit Prasad.

The first address was by CA Vishnu K. Tulsyan, who addressed the audience about the EIRC of The ICAI, discussing its operations, goals, and the theme of the upcoming 50th regional conference: “EYE – Ethics, Youth, Empower.” He emphasised a collective commitment to knowledge, youthful energy, and ethics. Additionally, he encouraged the audience to dedicate time to nature and work towards a sustainable India. His speech ended with the Motto song of ICAI being played in the hall.

Next, CA Mayur Agrawal shared a few enlightening words with fellow students in the audience. His words, “Consistency is the key. The one who is consistent for the next 365 days will achieve heights more than the one who is intelligent but not consistent,” resonated with the audience.

Prof. Dilip Shah then took to the stage and decoded the theme of the seminar, stating that the seminar aims at “filling the gaps on finances.” Prof. Shah announced that BESC would also start taking CA Foundation and CA Intermediate classes for CA aspirants within the next few days.

Following Prof. Shah, Prof. Minakshi Chaturvedi took the stage and thanked the members and representatives of ICAI, the panellist speakers, the faculty members, and the fellow students for marking their attendance at the seminar. With this, Dr. Subhabrata Gangopadhyay felicitated CA Vishnu K. Tulsyan and CA Mayur Agrawal with an Uttariya and a momento. The members and representatives of ICAI felicitated Prof. Dilip Shah, Prof. Minakshi Chaturvedi, Prof. CA Vivek Patwari, and Dr. Subhabrata Gangopadhyay.

Following this, CA Prof. Vivek Patwari enlightened the audience about the event and described the seminar exclusively as an academic seminar. In his words, “The seminar will give us a lot of deeper insights.”

TECHNICAL SESSION 1:

“Understanding The Financial Statements”

The first Technical Session began at 12:00 P.M. and had CA Rohit Prasad and CA Aswini Bajaj as the panellist speakers. CA Rohit Prasad was the first speaker for the day and was felicitated by Prof. Dilip Shah. The lecture covered the fundamentals of accounting and the analysis of financial statements, including a demo analysis for beginners. It provided insights into modern approaches to financial statements and the importance of notes to accounts. The speaker advised CA aspirants to practice analysing a company’s financial statements weekly and emphasised the value of informed saving and investing.

The second speaker, Mr. Aswini Bajaj, was felicitated by Prof. Vikas Mundhra and Prof. Rajesh Kumar Shaw, Senior Faculty Members of the Commerce Department. Mr. Bajaj discussed the Golden Rules of Accounts, explaining financial statements and the rationale behind debiting losses. He highlighted differences between bank financial statements and those of other businesses. When asked about his motivation for pursuing multiple degrees, he attributed it to his passion for mathematics and working with numbers. The Technical Session 1 ended and was followed by a lunch break of 30 minutes.

TECHNICAL SESSION 2:

“Decoding Budget 2025 And Future Prospects Of New Taxation Regime”

The speaker for Technical Session 2 was CA Navin Khemka. The session began at 2:00 P.M., where he gave the audience an extensive explanation of the budget and shed light on the New Income Tax Bill 2025. He was felicitated by Prof. Sayan Roy, Coordinator of the Department of Commerce (Afternoon and Evening) and Prof. Mohit Shaw, a faculty member of BESC and ex-Chairman of EIRC. It was an interactive session with Mr. Khemka, where he helped the students identify the differences between an assessment year and a financial year and the differences between TDS and TCS provisions.

TECHNICAL SESSION 3:

“Automation In Accounting And Financial Management”

The last Technical Session for the day began at 3:00 P.M. and had CA Shyam Agarwal and Dr. (Prof.) Abhijeet Biswas as the panellist. CA Shyam Agarwal was felicitated by Prof. Vasundhara Mishra and Prof. Priyambada. Based on the theme of this technical session, CA Agarwal’s discussion topic was “From Ledgers to Logarithm.” He covered the evolution of accounting, defined automation and its processes, discussed the future of automation, and demonstrated how to operate Tally Prime. The session included an interactive quiz with the audience to engage them.

Dr. (Prof.) Abhijeet Biswas, the next speaker, was felicitated by Prof. Minakshi Chaturvedi. Dr. Biswas discussed automation, its reasons, variations, and its connection with AI during his talk. He highlighted the relationship between Machine Learning and automation, noting that 45% of finance tasks could be automated. He emphasised that automation won’t eliminate jobs but will favour those with knowledge in automation over those lacking technical skills.

VALEDICTORY SESSION:

The event came towards an end with the Valedictory Session, which began at 4:00 P.M. with Prof. CA Vivek Patwari, Co-Ordinator, B.Com (Morning), BESC delivering the Vote of Thanks. He showed his gratitude to the Dean’s Office, ICAI, faculty members, the speakers, participants, volunteers and the technical staff. Prof. Patwari remarked that “We need to think beyond our curriculum and the seminar aimed at creating a space beyond our books.” All the participants were welcomed to the stage and awarded with participation certificates for attending the seminar.

All the participants were handed out certificates cosigned by both institutions, and the event concluded at 4:30 P.M. with a group photograph, followed by some refreshments.

REPORTER – Moubani Maity

PHOTOGRAPHERS – Spandan Samanta and Agrag Ghosh