K - GD/PI

GD/PI of K got over on 15th.Venue – CPP, IIMB Day got of to a flying start with me reaching IIMB at 8:30am and waiting at Center for Public Policy for 45 minutes with another guy, wondering why no one was turning up. Asked the guy below who was helping out and was guided to the real CPP. Sprinted in right on time and saw 16 hopefuls peaceably reading newspapers/chatting away/arranging certis. Got hold of a chair with some difficulty, only to be cornered by a DCE guy who quizzed me abt US GAAP. Gave some general gyan and that seemed to satisfy him. Before I proceed further, a confession would be in order. Being a CA does not… I repeat, does not mean that you know everything about Finance, Commerce and everything monetary. Nothing could be farther from the truth. So, please stop asking CAs panting from a long sprint abt US GAAP. Was put in panel 1 (8 engineers and 1 CA...me )and herded to the IIMB Managerial Review mag wing with 9 other hopefuls. Had gotten familiar with 3 other souls … we are supposed to do that to make the GD just a bit more easier… remember the GD Must Do rule No 1?? Just that it was of no use as none of the guys were in my panel and I was back to staring at a group of strangers. The IIM Profs, canny souls that they are, called us in immediately for the GD, leaving no time for the “getting to know each other better” ritual. GD started at 9:35 am. 2 panelists – Both middle aged men – no distinguishing features – so will settle for P1, P2 and UT (Urs Truly) The seats are pre-assigned and there was a slight delay as No.10 joined in a bit late as he was talking with his placement officer over phone, who had gone ballistic when he heard that No.10 was attending an interview, after getting placed. Seating arrangement –
X1 X2 X3 X4
P1-----------------X5
P2-----------------X6
X10 UT X8 X7
P1 welcomed us and after some minor seat adjustment kept the GD Topic sheets upside down. Laid out the rules – 1)3 minutes to put our thoughts in order.
2)He would specify when to start.
3)10-12 minutes of discussion.
Topic- Globalization is having a devastating impact on the environment.

GD – Single word to describe it “chaotic”.

You want the gory details?

Here goes – 1)4 self appointed moderators.
2)3 ppl screaming out at the same time.
3)One guy defining globalization as a communication revolution and going unchallenged.
4)All agreeing that Globalization was having a devastating impact on the environment in the first 25 seconds.
Came in twice, but no major contribution. Overall big disappointment… especially when I have been doing well in the TIME GDs. Discussion called to halt after 7 minutes.

PI – The guys who went in, came out looking sort of bruised. They spoke of being ripped apart in acads. The sole lady with abt 17 months of work-ex at infy was asked abt her domain, significant achievement (they did not get what she had written) and hobbies (she was asked to recite one of her poems as poetry was her hobby). She was the only one who was happy at the end of the PI.Me went in finally after polishing off 2 samosas and a cold chocolate…

P1 – So, Abhinandan, tell me something abt urself and asks for my certis.
UT – Usual spiel abt my superhuman virtues and achievements.
P1 – You have some rank in CA
UT – Yes, got the 35th rank in CA Inter (had not mentioned it in my spiel)
P1 – There is this school of thought that says “Inventory is actually a liability”….any idea why?UT – Inventory reduction is sole focus when dealing from working capital reduction angle….also liability when the stock is aged/outdated as a result of which I have to write down the inventory value.
P1 – Don’t you think there is scope for inflation of company/share valuation due to overvaluation of inventory?
UT – Quoted funda of Book Value vs. Net Realizable Value whichever is lower as per AS-2 – Indian GAAP and how one would have to check the NRV carefully during due diligence or valuation exercise.
P1 – So you can write down inventory value if it is actually low?
UT – Yes, you can and must.
P1 – Tell me abt the difference between CFA and CA?
UT – You study different courses to qualify.
P1 – No..No.. I am talking about the jobs handled…
UT – CFA deals more with financial instruments and financial markets….CA with accountancy, audit, costing etc. CFA rarely employed by manufacturing co.s
P1 – So why do you think a CA cannot do a CFA’s job?
UT – The CA syllabus covers only the rudimentary stuff abt fin instruments and markets. CFA syllabus on the other hand goes into much greater depth. However, it’s more a q of orientation and a CA can do the same job given time as it demands the same skill stes and familiarity with numbers.
P1 – You must have studied statistics as a part of M.Com/B.Com?
UT – Yes, but have no touch with it for past 3 years.
P1 – Because statistics is useless?
UT – Of course not. Me of opinion, it is very useful….just that I don’t apply it in my daily work, so out of touch. P1 looks at P2 visually signaling him to take over –
P2 – What is your take on your performance in the GD?
UT – I came in twice and could not contribute much. This is despite the fact that I had lots of points to contribute to the GD. I just could not come in. That’s about it.
P2 – In your hobbies you have mentioned blogging, don’t you think there is no control over what gets posted on the internet?
UT – There are 2 viewpoints to this – One is the freedom of expression. One may speak the truth or may lie and may even indulge in slander. But he is entitled to it as the freedom of expression ifs paramount. (P2 raised eyebrow when I said this). The other view is that all freedoms have their limits. Spoke abt the bromide - right to swing stick ends where other person’s nose begins. Also mentioned internet being a nascent medium and how controls are being evolved. Gave some gyan abt how controls on print media will in due course and with modifications become applicable to the net too.
P2 – Still persisted in the same line of questioning.
UT – Gave some gyan about how what is posted on the net is self governed as the poster’s reputation is at stake. Also gave the example of wikipedia’s self correcting mechanism.
P2 – So will you be posting the PI details?
UT – Yes, both GD and PI (I grin , they laugh)
P2 – What is the most famous blogging site or group?
UT – Dunno, but I use blogspot and blogger both of which are owned by google.
P2 – Know anything about mumble jumble(that’s exactly what he said)
UT - Dunno
P2 - Don’t you think there is too much of junk on the net? I spent 30 min in the morn searching for something but still could not get anything remotely related to what I was looking for?
UT – Told him that same thing could be said abt print media too…just that there is no search function. Also search engines always on the look out for improving search results…so things can only get better. Google allows you to report bad search results so that they can improve.
P2 – I assume you will specialize in Finance, If we call you?
UT – Finance, yes…but also in general management topics like OR, Logistics in line with my long term goal.
P2 – Nice meeting you
UT – Thanks for the opportunity… and stumble out after 20-25 min.
Was relating the experience to the last guy when P1 came and called him.

Overall poor GD and weird PI(though me was happy with it).Now its on to A.