I usually use hand tools for stripping bark. A pair of pliers and a knife works well. Sometimes just a blade of the pruning scissors is enough for small jins.
Use a sharp knife, I use the grafting knife, to outline the edges of shari before peeling the bark.
For light carving a rotary tool like dremel is OK but I've killed 3 of those now and the bits available are quite small and slow to remove wood.
For heavier carving a die grinder has much more grunt and can take larger, faster carving bits.
Arbortech have a couple of options that can remove plenty of wood but hard to do finer work in tight places.
There's not just one does it all tool for carving. It depends a lot on what, where and how much you intend to carve.