ICAI to draft accounting norms for carbon trade

India is spearheading the process of establishing accounting standards in emission trading.

Even though enough carbon credits are being generated and transacted under the Kyoto Protocol, there are currently no international accounting standards on emissions. To enable India take the lead on this front, the Institute of Chartered Accountants of India (ICAI) - a statutory body established under an Act of Parliament - is soon going to constitute an expert group to formulate a draft to establish accounting standards on emissions.

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It is good to see the an Indian body is in forefront of setting accounting standard. I do not have a clue what it is all about. Can someone comment on it.

Regards,

Santosh Puthran

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Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made.

Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory.

Areas of consequence:
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Poll : Does pursuing CIMA, UK qualification add value to a member of ICWAI, India ? Vote on the poll and share your thoughts by commenting the blog.

Poll: Vote here

I feel that if you are a member of ICWAI and you pursue CIMA, UK qualification, you are not adding any value to your skills since you will be learning the same. Once you are qualified, you are still a Cost & Management Accountant but from UK. For an employer, I would still have same skills and training on Management Accounting.

However if you pursue qualification like Company Secretary or CPA or ACCA, your skills are enhanced with the knowledge gained during training and passing of exams. After qualification, you are bound to follow the CPD programs of ICWAI and other institute. In competitive world, employer look for people with multiple skills.

Which one promotes you as professional better against your name:
AICWA, ACMA
or AICWA, ACS
or AICWA, CPA
or AICWA, ACCA

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Regards,

Santosh Puthran

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