In a large movement, the center has a 12-member National Advisory Committee for Accounting Standards (NACAS), under the chairmanship of Mr. YH Malegam, a chartered accountant.
Although NACAS had in the past, for a period of one year, official sources indicate that the president and members of the committee, this time, these offices until February 28, 2005.
NACAS was established to advise the Centre on the formulation and definition of accounting and valuation methods and standards for the adoption of businesses or a class of companies under the Companies Act.
In addition to Mr. Malegam the advisory committee would be composed of presidents of the three vocational training institutes - Representation chartered accountants, secretaries and corporate cost accounting.
Furthermore, it is also a candidate from any of the Securities and Exchange Board of India (SEBI), Reserve Bank of India (RBI), Comptroller and Auditor General of India (CAG) and the Central Board of direct taxation. The industry would be represented on the committee by a single candidate countries associated Chambers of Commerce and Industry of India (Asso Cham) and PhD of Commerce and Industry of the House of Representatives (PHDCCI). Dr N. Balasubramanian of the Indian Institute of Management, Bangalore and a common secretary general of the Ministry of Interior company have also been appointed as members of the Committee.
Tags: accounting standards, candidate countries, chambers of commerce, chambers of commerce and industry, chartered accountant, chartered accountants, comptroller and auditor general, comptroller and auditor general of india, cost accounting, exchange board, indian institute of management, indian institute of management bangalore, industry of india, national accounting, national advisory committee, reserve bank of india, securities and exchange board of india, training institutes
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VISAKHAPATNAM: It has been found during several studies on the extent of transparency of facts and figures in the annual reports of various corporate sectors that the system of accounting differs from one to another.
As a result, many of the corporate houses do not reveal facts and figures in their annual reports.
Later, the International Accounting Standards Board, along with the Financial Accounting Standards Board, has recently took a decision to seek convergence of accounting standards, globally.
Andhra University Department of Commerce and Management Studies on Friday organised a national seminar on 'Convergence of Corporate Disclosure and Accounting Standards', under the aegis
ICFAI Business School will hold a two-day national seminar on 'International Corporate Financial Reporting and Analysis' on August 23 and 24.
The programme will act as a platform to evaluate the current financial reporting model and its relevance for making sensible economic decision, Indian accounting standards and the problems faced in implementing the accounting standards and related financial reporting regulations.
Thiruvananthapuram, Feb. 17 - The time has come for Accounting Standards (AS) are in the government for improvement of financial reporting and improved accountability mechanisms, "said V. Ramachandran, vice-chairman, State Planning Kerala Board.
The time to speak at a seminar on "Financial Management in the Government of Kerala organised here by the local group of the Institute of the Court of Public Accounts across India, Mr. Ramachandran said that the accounting and accounting standards are essential for government accountability and an effective and efficient functioning of the democratic system of government.
Accounting standards and financial reporting to play an important role in
Cashing in on the accounting boom
The accounting profession is booming, thanks to new rules aimed at exposing corporate crooks.
The Sarbanes Oxley Act is a U.S. federal law passed in 2002 in response to accounting scandals at Enron, Tyco and WorldCom, among others. This has led to greater audit scrutiny in Canada.
Faced with a fast-growing workload — and a wave of retirements in the next decade — accounting firms are recruiting more heavily on university campuses.
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Alpern Rosenthal promoted Sharon J. Helgerman and David P. Roth to managers, accounting and auditing department; and Margaret M. Koepfinger, senior manager, entrepreneurial services group.
John P. Ellsworth was elected partner at Cottrill Arbutina Professional Services.
Goff Backa Alfera & Co. hired April Harms, tax consultant, tax services group; Mandy Funkhouser, consultant, audit and accounting group; and Rebecca Rumski, consulting group, responsible for providing computer-based accounting services to clients.
The Indian Institute of Management, Calcutta (IIMC) is all set to enter a collaboration with the Chartered Institute of Management Accountants (Cima), to jointly establish a National Centre for Management Accounting.
The intention is to shape international best practices in the area of management accounting, which, along with enterprise governance, is a core strength of Cima, a leading membership body that offers an internationally recognised professional qualification in management accountancy.
For Cima, which has over 1,55,000 students and a presence in some 158 countries, this proposal to IIM-C is a means of building up its presence in India. Later, it also plans
YC Deveshwar, chairman, ITC Ltd, the reins of the Confederation of Indian Industry (CII), on Wednesday, the chairman, succeeds Sunil Kant Munjal.
Deveshwar term as president of the CII, at a time when Indian industry is gaining global recognition.
An engineering degree IIT, Delhi, Deveshwar hand by the government was at the helm of the national airline, Air India, as chairman and chief executive officer. The Government of India has also nominated him, the chairman of the board of directors of the company and the Indian Institute of Management, Calcutta. He is also a member of the National Manufacturing Competitiveness Council.
Deveshwar is
India Inc. is getting younger. The basis for that sweeping statement is the fact that the panel Business Today put together to identify India's hottest young executive talent, a panel that comprised some of the best-known executive search firms in the country, had no difficulty identifying 25 people under the age of 40. The last time this publication embarked on a similar exercise (See India's Hottest Young Executives, September 29, 2002), the panel was hard-pressed to meet the age constraint, and eventually extended the bar to 42. The times are responsible for the sudden profusion of young executive talent-including reserves,
New Delhi: The government proposes to limit the amount of equity a company may be involved in a (ESOP) regulation of 5 per cent of the total equity after the output is made.
Established guidelines for companies, the exhibition ESOPs in the Companies (Amendment) Bill 2003, adding in the case of listed companies, Sebi ESOPs standards instead.
"A company may at any time, increase their capital, an option to its employees, officers or directors to work to acquire securities according to a blueprint option framed by the company," said Bill, which was introduced Parliament in recent Dear session ended.
Furthermore, said that each
Maintaining proper accounting system is not only necessary for taxation purposes but also to know the actual position of profit and loss during each financial year or at shorter spans of time. It is only through accounts that we may know where the business stands, what changes are necessary and to plan for future.
Regardless of the size of the business, accounts must be maintained regularly. Help of the private professionals can be sought when the business starts growing. All financial transactions should be noted daily. Accounting being a specialised subject it suffices here to say that you can either
You don’t have to have an MBA to know the value of basic business skills. Just ask Greg Shaw, 22, and the 54 other recent graduates of the Carolina Business Institute at University of North Carolina-Chapel Hill.
These new biologists, psychologists and arts majors added the business course to their resumes before stepping out into the real world. Many think it will give them a competitive edge in the workplace. Some think such skills are necessary if they want to one day run their own businesses. And others want the confidence of knowing how to manage personal finances.
UNC’s Friday Center has
VADODARA: The Institute of Chartered Accountants of India (ICAI), the report of the Financial Review Board to ensure better services for citizens.
It is the assessment of all listed companies and whose authenticity. If a failure or slips in the balance sheet, the statements are then invited by firms or external auditors. And if necessary, disciplinary action, the committee is asked to take action.
This was confirmed by the president of the ICAI, R Bhupathy, who was in the city on Friday for two days of the West Bank and the India Regional Council (WIRC) Conference of the ICAI. Vadodara WIRC The
The process of drawing up modalities for implementation of the proposed reserve 27 per cent of management institutions CBO began. The sixmember panel of experts established by the Centre and the former management of the IIM-A director Samuel Paul met in Bangalore, an initial brainstorming session.
The status of resources available on the IIMS was the central point of discussion. Members of the Faculty and evaluate the development of necessary infrastructure, as soon as the rates applied.
A questionnaire is now by the Government on the group, which are compiled and will be discussed at the next meeting on June 20 in