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Showing posts from November, 2007

Calculated Move - Career in Management Accountancy

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It is quite good to see articles published in the leading magazines encouraging people to make their career in cost accountancy. Articles like these make general public aware of the role of cost accountants in the business.

The article is a published in Tribune and very informative article. The author writes

"Cost and management accounting helps in planning, monitoring and controlling the cost and price of a product or a service. The process involves critical monitoring of relevant costs and overheads like material, labour, capital costs etc., involved in making a product or providing a service. Such accountants analyse the sales trend to strike a balance between the demand and supply, to prevent overproduction. They also monitor the performance, to spot and report on problems and prevent them from occurring in future. The job involves advice on product pricing, production planning and inventory control, product wise return on capital employed, investment proposals, preparing pro…

Employee demand for responsible business

The study of UK senior executives, titled ‘Corporate Responsibility and the Modern Business Leader’, found that:

Employees expect the business that they work for to adopt a like-minded approach to the environment, community welfare, sustainability, employee diversity and work/life balance.Younger employees are more concerned with their employer’s corporate responsibility activities than ever before.Senior managers agreed that staff often drive the corporate social responsibility programme ‘from the ground up’, particularly within SMEs.Organisations have responded to corporate social responsibility demands as a way to retain good people and foster a positive culture.
Click here to read more - Study by Robert Half

The report suggests "Employee power is the real driving force behind the corporate responsibility agenda". Do you agree ?



You may also like to read my earlier post - Best Companies to work in India.

Regards,

Santosh Puthran

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SEBI to come out with guideline for Mutual Funds

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The Securities and Exchange Board of India will soon come out with the final guidelines on real estate mutual funds. In June this year, the market regulator had approved the primary guidelines allowing mutual funds to launch dedicated real estate funds. These funds will be close-ended ones.

While all these funds will have to appoint custodians for the safe keep of property titles, the units of these funds will be listed on stock exchanges and traded on the basis of the net asset value of the scheme. No mutual fund house has, so far, come out with real estate funds as there is ambiguity on the valuation process of underlying properties.
Click here to read more

The downside is SEBI expects ICAI to come up with guidelines for real estate mutual funds. It is a shame that GOI has not come up with Accounting/Auditing Standards Board which is independent of any Accounting body.


Regards,

Santosh Puthran

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You may …

Best Companies to work in India 2007

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Image Source: istockphotos

I have picked up the article from http://www.mercer.com/summary.jhtml/dynamic/idContent/1269170 where they have given a list of Top 10 companies to work in India. Majority of the companies are IT companies and traditional companies like TATA, Birlas, Reliance does not fit into the role.

The report suggests, "The selection process involves assessment of the company on four quadrants - Employee Perception and Satisfaction, HR process robustness, HR metrics and Stakeholder feedback which involves seeking the views of the labor market representatives and business community of the company’s perceived people management focus. The data gathered on four quadrants is evaluated and clearly defined parameter weightages are used to determine a company score."

I would request readers of MA blog to vote on poll which they consider to be the best company to work with. Please comment on whether the survey done by the leading magazines give a true picture of the compa…

Audit of self-managed superannuation fund-Australia.

Superannuation industry(supervision)act1993 and its regulation 1994 following is the criteria for audit of accounts:
Any of the following persons.A member of ICAA, ICPAA, NIA.A registered company auditorA member of the association of taxation and management accountants.A member of national taxation agents and accountants association.
Auditor general of the commonwealth.



Posts by RV

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CMA Sunil Blog

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I was doing a google search on "name change icwai" and came across Sunil's blog. It is very informative. (The blog does not work now)

I am sure that you will also enjoy reading and comment the blog.

Regards,

Santosh Puthran

Amazon.co.uk Widgets

ICWAI website - Share your thoughts

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Update on 16-Dec-08: ICWAI website has now vastly improved and more informative for its stake holders.
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I have been visiting the ICWAI website quite often to see any updates and it has been improving a a lot. Last week, Mr Ramesh Joshi, in one of his mails had asked the members to post a feedback about the website. I posted a feedback and to my suprise Mr S C Gupta responded in a day. Nice work office bearers of the institute.

To make our profession effective is in our hands. As we go ahead we should be more demanding with ourselves, our elected representatives and Institute. Today maintaining a effective website that supports our professional developments is the only way to get ahead in the corporate ladder. So feedback to our institute is necessary from time to time. As ICWAI is only Cost & Management Accountancy body in India, the hits to the website by the general public is tremendous. So why not captalise on it.

I liked the fol…

Foreign cos, arms may be allowed non-resident chiefs

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Ministry considering new provision in company law

Conditions apply

At least one director will have to be a residentDisclosure norms like that of domestic entitiesSilent on ‘place of business’ and winding up of businessesThe report mentions

A special chapter, which is being dedicated to foreign companies, suggests various regulations to be followed by such entities, including maintenance of accounts, filing of accounts with Registrar of Companies, cost audit, inspection, investigation, registration of charges, and creating debenture trusts. These provisions will be applicable to both foreign companies and those incorporated in India.

Click here to read more

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Regards,Santosh Puthran
Do you like to remain updated in Accountancy?Subscribe to Management Accountant by EmailYou may also like to read

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International Seminar 2007 of ICAI Abu Dhabi

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Abu Dhabi Chapter of The Institute of Chartered Accountants of India will be organising an Annual International Seminar on 29th & 30th Nov 2007 under the theme "Winning Business Strategies in Challenging Times."

The seminar will be inaugurated by the Chief Guest H.E. Sheikha Lubna Bint Khalid Al Qasimi, Minister of Economy, UAE on Thursday 29th Nov. 2007. Indian Ambassador H.E. Talmiz Ahmed will be the Guest of Honour. Click here to know more


I think ICAI has gone into a publicity mode and spending lots of money. The plus point is that people will tend to know about the Institute and members of the institute. Delegate from across the middle-east will immensely benefit the ICAI community.




The seminar is only 20 days away and you find that 80% of the speakers are awaiting confirmation !!! Last but not the least.... the music concert by Sonu Nigam .... a vow factor after a lot of financial topics. Let's see who makes the more impact in new ..... Sonu Nigam or our Accounta…

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