S

th

38 All India Accounting Conference

&
International Seminar
on
Accounting Education and Research

December 5-6, 2015

Chandigarh (India)
Organized By

University Business School,

Panjab University, Chandigarh
&
Indian Accounting Association,
Chandigarh Branch

SOUVENIR
38th All India Accounting Conference
and
International Seminar
on
Accounting Education and Research

December 5-6, 2015

Chandigarh (India)

Organized By

University Business School,

Panjab University, Chandigarh
&
Indian Accounting Association,
Chandigarh Branch

Editorial Board

Chief Patron
Prof. Arun Kumar Grover
Vice-Chancellor
Panjab University
Chandigarh

Patron
Prof. Dinesh K. Gupta
University Business School
Panjab University
Chandigarh

Conference Secretary
Prof. Karamjeet Singh
University Business School
Panjab University
Chandigarh

Organizing Secretary
Prof. Sanjay Kaushik
University Business School
Panjab University
Chandigarh

W E L C O M E

It is a ma er of immense pleasure and privilege for the University Business

School, Panjab University, Chandigarh to organize the pres gious 38th All India
Accoun ng Conference. For this, we express our sincere gra tude to the Indian
Accoun ng Associa on for giving us an opportunity to host its 38th session at
Panjab University, Chandigarh. Belonging to the land of inimitable Punjabi
culture, tradi on and hospitality, justly famous for its celebra on of joie de
vivre, vitality, seva (service) and sacrice, we extend a hearty welcome to the
Oce Bearers, Execu ve Members, past Presidents and all the delegates of
this conference to the city beau ful - Chandigarh. We are equally delighted to
greet our Special Guests, Key-Note Speakers, Chairmen and Co-Chairmen of
the Technical Sessions and Invitees.
Nobody can organize this type of a mega event single handedly.We have been
helped by very many people and organiza ons. We, therefore, oer our deep
and sincere gra tude to all those people who helped us in organizing an event
of this magnitude in a professional manner.
We, also express our profound sense of gra tude to more than 900 delegates
for their invaluable support and research contribu on in the form of research
papers. We are op mis c to witness construc ve delibera ons on the chosen
themes. We also expect to oer recommenda ons, sugges ons and inputs for
further research and policy in the area of accoun ng.
We are very thankful to our dynamic and visionary Honorable Vice-Chancellor
Prof. Arun Kumar Grover for his constant support and mo va on at every
stage of planning. In addi on to this, we are also grateful to Panjab University
administra on. We also acknowledge the assistance and incredible support of
our colleagues, teaching and suppor ng sta members of University Business
School, teaching fraternity of dierent colleges of Chandigarh, students and
other team members for this remarkable event.
Our special thanks to the lead sponsors of the event GGDSD College,
Chandigarh, ISDC Bangalore, State Bank of India, State Bank of Pa ala, Dev
Samaj College for Women, Ferozepur, Bajaj College, Ludhiana, Kaler
Interna onal College, Smadh Bhai, SGGS College, Chandigarh.
With best wishes and hope to bring about a construc ve change in the eld of
th
accoun ng educa on and research. We, once again welcome all for 38 All
India Accoun ng Conference.

Prof. Karamjeet Singh

Conference Secretary

CONFERENCE SECRETARIAT
CHIEF PARTON
Professor Arun K. Grover
Vice Chancellor, Panjab University, Chandigarh

PATRON
Professor Dinesh K. Gupta
President, Indian Accoun ng Associa on (Chandigarh Branch)
University Business School, Panjab University, Chandigarh

CONFERENCE SECRETARY
Professor Karamjeet Singh
Secretary, Indian Accoun ng Associa on (Chandigarh Branch)
University Business School, Panjab University, Chandigarh

ORANIZING SECRETARY
Professor Sanjay Kaushik
University Business School, Panjab University, Chandigarh

ORGANISING COMMITTEE
Professor S. K. Chadha

Chairman, University Business School

Panjab University, Chandigarh

Professor A.K. Vashisht

Former Chairman, University Business School

Panjab University, Chandigarh

Professor Keshav Malhotra

Dean, Faculty of Business Management & Commerce

Panjab University, Chandigarh

Professor Paramjeet Kaur

University Business School

Panjab University, Chandigarh

Professor Meena Sharma

University Business School

Panjab University, Chandigarh

Professor Suveera Gill

University Business School

Panjab University, Chandigarh

Dr. Bhushan K. Sharma

Principal, GGDSD College

Sector-32, Chandigarh

Dr. Jagwant Singh

Head, Department of Commerce, GGDSD College

Sector-32, Chandigarh

Prof. Rosy Joshi

Head, Department of Commerce and Bus. Adm., GCCBA

Sector-42, Chandigarh

Dr. Mukesh Chouhan

Department of Commerce, PG Govt. College

Sector-46, Chandigarh

C O N T E N T S

Programme Schedule

Introduction and Theme

8-11

IAA- Executive Committee

12-13

Presidential Address

14-16

Messages

17-22

Schedule of Sessions

23-24

Abstract of Papers for Technical Session I

Abstract of Papers for Technical Session II
Abstract of Papers for Technical Session III

38th All India Accounting Conference

&
International Seminar on Accounting Education & Research
December 5, 2015 (Saturday)
9:00 11:00

Inaugural Session
Venue: University Auditorium

11:00 11:30

Tea Break
Venue: Lawn Facing University Auditorium

11:30 14:00

Technical Session I: Role of Accounting in Nation Building

Venue: UBS Auditorium & UBS Seminar Room-A
Technical Session II: Behavioural Accounting
Venue: UBS Seminar Room-B
Technical Session III: Integrated Reporting
Venue: UBS Room No. 1

14:00 15:00

Lunch
Venue: Lawn Facing University Auditorium

15:00 16:30

All Technical Sessions will continue

16:30 17:00

Tea
Venue: Lawn Facing University Auditorium

17:00 18:00

IAA Executive Members Election (For members only)

Venue: University Auditorium

18:00

Departure for the Venue of Cultural Evening by bus from Gandhi Bhawan

18:30 19:30

Cultural Evening
Venue: GGDSD College, Sector-32, Chandigarh

19:30 20:30

Dinner
Venue: GGDSD College, Sector-32, Chandigarh

20:30 onwards

IAA Executive Council Meet

Venue: GGDSD College, Sector-32, Chandigarh

December 6, 2015 (Sunday)

9:30 11:30

International Seminar on Accounting Education and Research

Venue: University Auditorium

11:30 12:00

Tea
Venue: Lawn Facing University Auditorium

12:00 -13:00

Annual General Meeting

Venue: University Auditorium

13:00 14:00

Lunch
Venue: Lawn Facing University Auditorium

14:00 15:00

Valedictory Session
Venue: University Auditorium

INTRODUCTION AND THEME

PANJAB UNIVERSITY, CHANDIGARH
Ranked number one University of India and in the bracket 276-300 internationally in the Times Higher

Education World University Rankings, 2014-2015.

Ranked 1st in India and 38th in Asia, Times Higher Education Asian University rankings 2015.
Ranked 39th by the Times Higher Education among BRICS & Emerging Economy nations in the THE
BRICS Rankings 2015.
Panjab University is one of the oldest Universities in India, the Panjab University has a long tradition of
pursuing excellence in teaching and research in science and technology, humanities, social sciences,
performing arts and sports. The University supports excellence and innovation in academic programmes,
promotes excellence in research, scholarship and teaching. The University is committed to attract and
support the best students and faculty, who excel at teaching and research. For more than a century, it has
served various societal needs with distinction. The glorious traditions of the University established during
the period of more than 132 years of its long service to the nation since its inception in 1882 at Lahore (now
in Pakistan) are a source of inspiration for the present generation of faculty members and students. After the
Partition in 1947, the University was constrained to function for almost a decade without a campus of its
own. In 1956, it was relocated at Chandigarh.
Located in Sector 14 and Sector 25 of Chandigarh in an area of almost 550 acres. The infrastructural
facilities include Shopping Centre, Health Centre, Bank, Post ofce, Swimming Pools, Gymnasium, Sports
Grounds, Shooting Range, Botanical and Medicinal Gardens, Open Air Theatre, Gandhi Bhawan, Fine Arts
Museum, Student Centre, Guest Houses, Faculty House, Seminar Complexes, Alumni House, Community
Centre, School, Day Care Center, 8 hostels for boys, 9 hostels for girls, a Working Women Hostel, two
sports hostels.
It has 78 teaching and research departments, 19 Chairs, 188 afliated/constituent colleges spread over
Punjab and Chandigarh, Regional Centres at Muktsar, Ludhiana, Hoshiarpur and Kauni and
Vishveshawaranand Vishva Bandhu Institute of Sanskrit and Ideological Studies at Hoshiarpur.
By virtue of its age, experience, achievements and philosophy, the Panjab University is a University of
national character and international stature and draws both faculty and students from all over the country and
different parts of the globe. Its faculty includes some of the most distinguished scientists and academicians.
It continues to attract celebrated scholars who interact with the faculty and students. Over the years, the
reputation of the Panjab University has grown into one of innovative teaching, research and community
outreach.

UNIVERSITY BUSINESS SCHOOL

University Business School (formerly, Department of Commerce and Business Management) has been
imparting quality management education to develop dedicated, innovative and effective managers,
researchers and teachers for four decades. The rechristening of the Department of Commerce and Business
Management as University Business School (UBS) in 1995 by the Panjab University, symbolizes the
recognition of completeness and maturity of the Department as a centre of management education in India.
The philosophy of the management education at the UBS is built on an integrative value system. It is
motivated by duty bound work ethics, human approach and scientic temper.
The school uses rigorous multifaceted pedagogy with an effective interface with the industry to translate the

mission into action. It creates opportunities for its students to enhance their understanding of economic,
social and political environment to broaden their horizon not only to adjust to change but to become catalyst,
and to develop their power to conceptualize, decide and communicate.
The school has been recognized by the University Grants Commission under Special Assistance Programme
for the following thrust areas, Supply Chain Management, Accounting and Business Finance-Social
Responsibility and Human Resources Accounting (HRA), Investment Decision Making and Innovative
Financing (with special reference to corporate social responsibility and HRA.
UBS has consistently been among the top Business Schools of India. A number of top business associates of
top companies in India, visit the college to participate in the placement process.
The faculty interacts with industry through consultancy assignments, management development programs,
and industry focused research and case studies. A good number of top executives from the industry in and
around Chandigarh take regular classes at the school, which helps in imparting pragmatic sense to the
teaching-learning process. In addition, management luminaries are invited for special lectures.

THE INDIAN ACCOUNTING ASSOCIATION (IAA)

The Indian accounting association is an interface between academicians, professional and practitioners
from various universities, business, industry and government. The main function of IAA is to promote and
disseminate the knowledge of accounting and the related subjects in India and abroad. Further, it aims to
undertake and encourage research in the eld of accounting. Ever since its inception, the IAA has served as
an important forum for raising the status of accounting both as a discipline and as an important tool for
managerial decision making.
The association was founded by academicians and professionals in accounting on March 17, 1969, and was
inaugurated on February 14, 1970 by the Accountant General of Uttar Pradesh. It is a member organization
of International Association of Accounting Education and Research (IAAER). It is also held in high esteem
by American Accounting Association (AAA). IAA has a network of 30 branches in India with more than
2000 life members, and a Research Foundation as an afliate at Kolkata. It also brings out a biannual
research journal 'Indian Journal of Accounting' in the months of June & December to give wider publicity to
research ndings. The Association also gives IAA Young Research Award and IAA fellowship.

THE INDIAN ACCOUNTING ASSOCIATION CHANDIGARH BRANCH

Indian Accounting Association, Chandigarh Branch was established in 2005. Prof. Dinesh K. Gupta is
president and Prof. Karamjeet Singh is secretary of the Chapter. The Branch has been actively engaged to
motivate experts in the eld of accounts and nance to join the IAA and as a result the life members under
Chandigarh branch have reached to sixty. The branch has been also actively engaged to motivate students to
participate in the National Accounting Talent Search Programme of IAA. The members of the IAA,
Chandigarh Chapter meet frequently and work to strengthen the IAA. The Chandigarh chapter dignitaries
always keep in touch with ofce bearers of IAA to contribute towards creating a more prestigious
Association in the eld of Accounting and Finance.

CHANDIGARH
Chandigarh, the dream city of India's rst Prime Minister, Sh. JawaharLal Nehru, was planned by the
famous French architect Le Corbusier. Picturesquely located at the foothills of Shivaliks,
Chandigarh derives its name from the temple of "Chandi Mandir" located in the vicinity of the site selected

for the city. The deity 'Chandi', the goddess of power and a fort of 'garh' laying beyond the temple gave the
city its name "Chandigarh-The City Beautiful".
Since the medieval through modern era, the area was part of the large and prosperous Punjab Province which
was divided into East & West Punjab during partition of the country in 1947. The city was conceived not
only to serve as the capital of East Punjab, but also to resettle thousands of refugees who had been uprooted
from West Punjab.
In March, 1948, the Government of Punjab, in consultation with the Government of India, approved the area
of the foothills of the Shivaliks as the site for the new capital. The location of the city site was a part of the
erstwhile Ambala district as per the 1892-93 gazetteer of District Ambala. The foundation stone of the city
was laid in 1952. Subsequently, at the time of reorganization of the state on 01.11.1966 into Punjab, Haryana
and Himachal Pardesh, the city assumed the unique distinction of being the capital city of both, Punjab and
Haryana while it itself was declared as a Union Territory and under the direct control of the Central
Government.
Le Corbusier conceived the master plan of Chandigarh as analogous to human body, with a clearly dened
head (the Capitol Complex, Sector 1), heart (the City Centre Sector-17), lungs (the leisure valley,
innumerable open spaces and sector greens), the intellect (the cultural and educational institutions), the
circulatory system (the network of roads, the 7Vs) and the viscera (the Industrial Area). The concept of the
city is based on four major functions: living, working, care of the body and spirit and circulation. Residential
sectors constitute the living part whereas the Capitol Complex, City Centre, Educational Zone (Post
Graduate Institute, Punjab Engineering College, Panjab University) and the Industrial Area constitute the
working part. The Leisure Valley, Gardens, Sector Greens and Open Courtyards etc. are for the care of body
and spirit. The circulation system comprises of 7 different types of roads known as 7Vs. Later on, a pathway
for cyclists called V8 were added to this circulation system.
Each 'Sector' or the neighboured unit, is quite similar to the traditional Indian 'mohalla', Typically, each
sectors measures 800 metres by 1200 metres, covering 250 acres of area. Typically a sector is divided in four
parts by a V-4 road running from east to west and a V-5 road running from north to south. These four parts are
easily identiable as A, B, C and D corresponding to North, East, South and West sides. Each Sector is meant
to be self-sufcient, with shopping and community facilities within reasonable walking distance.

TOURIST PLACES
SUKHNA LAKE : Sector 1, Chandigarh [05:00 AM - 09:00 PM]
ROCK GARDEN : Sector 1, Chandigarh [09:00 AM - 05:00 PM]
CACTUS GARDEN : Sector 5, Panchkula, [09:00 AM - 07:00 PM]
ROSE GARDEN : Sector 16, Chandigarh [06:00 AM - 08:00 PM]
NATIONAL GALLERY OF PORTRAITS : Sector 17, Chandigarh [10:00 AM - 05:00 PM]
TERRACED GARDEN : Terrace Garden, Sector 33, Chandigarh
JAPANESE GARDEN : Sector 31, Chandigarh
INTERNATIONAL DOLLS MUSEUM : Sector 23B, Chandigarh
LEISURE VALLEY : Sector 10B, Chandigarh
ISKCON TEMPLE : Sector-36B, Chandigarh
NEARBY CHANDIGARH
PINJORE GARDENS : National Highway 22, Kalka-Shimla Road, Pinjore

INDIAN ACCOUNTING ASSOCIATION - EXECUTIVE COMMITTEE

President
Prof.Pratapsinh Chauhan,
Vice Chancellor,
Saurashtra University, Rajkot (Gujrat)
General Secretary
Prof. G. Soral
University College of Commerce &
Management Studies, M. L.
Sukhadia University, Udaipur (Raj.)
Joint Secretary
Dr. Ashok Agrawal
Department of Commerce
University of Rajasthan, Jaipur (Raj.)

Vice President(Sr)

Vice-President(Jr)

Prof. D. Prabhakara Rao

Prof. Arvind Kumar
Faculty of Commerce and Management Department of Commerce
Studies, Andhra University,
University of Lucknow, Lucknow (U.P.)
Visakhpatnam (A.P.)
Treasurer
Prof. Sanjay Bhayani
Department of Business Management,
Saurashtra University, Rajkot (Gujrat)
Joint Treasurer
Prof. M.L. Vadera
Manipal University,Jaipur (Raj.)

Chief Editor
Prof. Umesh Holani
Department of Commerce
Jiwaji University, Gwalior (M.P.)
Editor
Dr. K. K. Agrawal, Department of
Commerce, Jiwaji University,
Gwalior (M.P.)
Dr. Navitha Nathani, Department of
Commerce, Jiwaji University,
Gwalior (M.P.)

Member (Ex-Officio)
Prof. B. Banerjee
President, IAA Research Foundation,
Kolkatta (W.B.)

Rajkot Elected
Prof. S.K. Mangal,
Jaipur (Raj.)

Dr. V Appa Rao,

Hyderabad (A.P.)

Dr. N.H. Koringa,

Rajkot (Gujrat)

Dr. S.S. Bhadouria,

Amarkantak (M.P.)

Visakhapatnam Elected
Central Zone

West Zone

South Zone

Prof. K.S. Thakur,

Gwalior (M.P.)

Prof. Hitesh Shukla,

Rajkot (Gujrat)

Prof. Ramchandra Gowda,

Bengaluru (Karnataka)

Dr. RKS Sengar,

Gwalior (M.P.)

Dr. R.R Rathod,

Akola (Maharashtra)

Dr. Muninarayanappa,
Bengaluru (Karnataka)

North Zone

East Zone

Dr.Sandeep Goyal,
Delhi

Dr. P.K. Pradhan,

Bhubaneswar (Odisha)

Dr. Kamal Kant,

Barsa (H.P.)

Dr. Sunil Kumar Gandhi,

Kolkatta (W.B.)

Lucknow Elected
East Zone

North Zone

West Zone

Dr. Anand Mohan Pal,

Kolkata (W.B.)

Dr.Mukesh Chouhan,
Chandigarh (U.T.)

Dr.Chandresh L Usadadia,
Junagadh (Gujrat)

Dr.Rabindra Kumar Swain,

Bhubaneswar (Odisha)

Dr.Rajnikant Verma,
Delhi

Dr. L R Paliwal,
Jodhpur (Raj.)

Central Zone

South Zone

Dr Pushpendra Mishra,
Lucknow (U.P.)

Lucknow Co-opted
East Zone

North Zone

West Zone

Dr.Hrishikesh Paria,
Midnapore (W.B.)

Dr. Anil Kumar,

Delhi

Dr. Bharat Lal Gupta,

Jaipur (Raj.)

Dr. M Sahu,
Bhubaneshwar (Odisha)

Dr. Hem Chand Jain,

Delhi

Dr. L K Kavangale,
Akola (Gujrat)

Dr.Parimal Kumar Sen,

Kolkata (W.B.)

Dr. J K Sharma,
Shimla (H.P.)

Dr. V K Patel
(Bhatasana) Rajkot (Gujrat)

Central Zone

South Zone

Dr. G S Rathore,
Varanasi (U.P.)

Dr. K Ch AVSN Murthy,

Hyderabad (AP)

Dr. Pramod Kumar,

Agra (U.P.)

Dr.Hanumant Rao,
Visakhapatnam (A.P.)

Dr. R C Gupta,
Gwalior (M.P.)

Dr. M. Muniraju,
Bengaluru (Karnataka)

38th Conference Secretary

Prof. Karmajeet Singh
University Business School
Panjab University,
Chandigarh (U.T.)

PRESIDENTIAL ADDRESS
for
th
38 All India Accounting Conference and International Seminar
by
Prof. Pratapsinh Chauhan, President of Indian Accounting Association,
and Vice Chancellor, Saurashtra University, Rajkot (Gujarat)
Ladies and gentlemen,
Our nation started its journey towards globalisation in 1991. Two decades are already over and we are at
midpoint of the third decade. It is high time to assess its impact on accounting teaching, research, training
and development and practices in india. IAA as a national representative body of accounting faculty at
universities and colleges and practitioners in India with international recognitions has to identify emerging
challenges arising out from impact of globalisation and to develop strategic plan to cope with these
challenges in specic area like curriculum development, faculty development, pedagogy and research. I
want to concentrate on a few major developments like globalisation of accounting standards, XBRL and
globalisation of tax system.
IFRS
International nancial reporting system (IFRS) is a vital step in the direction of globalisation of accounting
standards. India has chosen not to adopt it but to adept to it through convergence. The government of india,
on the recommendation of the ICAI, has announced IFRS converged accounting standards called as Ind. AS
st
to replace the existing AS series. The implementation will take place in phases. First phase will start from 1
April, 2016 when it will become mandatory for listed and unlisted companies with net worth of Rs. 500
crore or more. Second phase will start from 1st April, 2017 when it will become mandatory for listed
companies with net worth less than Rs. 500 crore. For unlisted companies it will become mandatory if net
worth is between Rs. 250 crore and Rs. 500 crore. The transition date will be one year prior to the date xed
for implementation. However, Indian AS will not apply to banking and insurance companies. Thus, india is
missing an opportunity of adopting IFRS which is essential to have access to global capital markets. Now an
indian MNC is required to publish annual accounts as per indian AS and then again to publish annual
accounts as per IFRS for global stock exchanges. AS, Indian AS and IFRS, all the three will continue in
practice. It may be a gold mine for accounting practitioners but it will be a formidable challenge for
accounting faculty and students. IAA standing committee on accounting standards may deliberate on this
complex issue and make its recommendation for curriculum development, EDP, FDP and research whether
to include IFRS alone on the action plan or to continue with AS, Indian AS also while adding IFRS.
Researchers have to focus on comparative study of the two or three.
To my mind, a main barrier in the uniform adoption of IFRS is loss of individual national identity. Let us
remember Mahabharata epic wisdom that for globalization, we have to give up attachment to national
identity, if it is demanded to serve the higher purpose of humanity's interest. In order to achieve a higher
level goal, we have to sacrice lower level goals.
There are a few other glitches in the way of smooth adoption of IFRS. For example, IFRS 15 on revenue
recognition, IFRS 9 related to nancial instruments have been deferred by rest of the world due to fear of its
adverse impact on bottom lines in global slowdown economy phase. It simple means that we do not want
accounting to be an objective, veriable and predictive tool of measurement. The accounting researchers
must examine objectivity, veriable and predictability features of accounting standards. Ethical aspects of
these glitches causing deferment of selected IFRS must be closely scrutinized by accounting researchers.

From transition date, the companies affected will have to prepare for comparable date of the preceding year
for disclosure in annual reports based of IFRS/indian AS. Massive training efforts will be needed to prepare
corporate accounting and nancial staff, bankers, tax staff, audit staff, nancial analysts, faculty members
etc. They must learn new accounting standards and develop capacity to understand their impact.
Since tax authorities have refused to recognise market value as a basis of valuation to compute assets value
impairment, etc. This acts as a set back to IFRS. The ministry of nance, government of india has already
st
issued new income computation and disclosure standards (ICDS) effective from 1 April, 2015. Issues
related to minimum alternative tax (MAT) is giving headache to government of india seeking FDI.
Researchers may accept this challenge to analyse gap between IFRS, Indian AS reported income and ICDS
based taxable income.
IFRS/Ind. AS will be substance based rather than rule based. It will make them more subjective. There is
every possibility of misuse of such subjective tools. In the given back drop of rampant misuse of accounting
as a tool of corporate frauds, the researchers must highlight such new tools of accounting cosmetic kit and
their potential effect on corporate frauds. It may throw new professional opportunities for CA's, forensic
accounting experts etc. to make a fast buck but public interest will suffer irreparable damage and global
economic crisis may become a more recurrent phenomenon.
XBRL
Extended business reporting language (XBRL) has been introduced by BSE, NSE and ministry of corporate
affairs in India. Filing of annual reports, their translation, analysis etc. will become very prompt and
automatic. Lot of time, any money will be saved. If IFRS is adopted, it will add to the real value of XBRL
substantially. The universities in India shall do well to include XBRL related skills development in their
accounting and nance curriculum,
EDP, FDP's.
GST
A unied goods and services tax system is on the anvil. It may be introduced from next nancial year. India
became a political union due to iron will of late Sardar patel. GST will be a step in the direction of making
india an economic union or common market. The credit for this will go to NDA 2 government under the
leadership of shri. Narendra modi. Mahatma Gandhi gave freedom, Sardar crafted political union and
narendrabhai may make India as a powerful common market with GST and direct freight corridors. We have
to accept the notable contribution made my Gujarat in making india politically and economically powerful
entity. Members of IAA will accept the challenge of curriculum reform, training and research in indirect tax
area.
DIRECT TAXATION
The government of india has already constituted an expert committee for simplication of income tax act in
india. It is an old problem complicated in the cobweb of vested interest of related professionals. IAA may
constitute a panel of expert to suggest ways and means to simplify direct tax laws in india and submit its
report to government of india, ministry of nance for its due consideration by the ofcial panel. The nance
minister has also announced his willingness to resuce corporate tax rate to 25% in instalments. There is need
to test empirical relationship between tax rate and tax compliance.

BEPs
The organisation for economic cooperation and development (OECD) has taken initiates to improve
transparency in tax administration and curb tax avoidance by MNC's. G20 nation, including india, have
endorsed its package of measures and a road map to tackle base erosion and prot shifting (BEPs). Now
BEPs will affect about 9,000 MNC's. It is expected to check and reduce aggressive tax avoidance like double
non-taxation by MNC's. Due to change in business models in a borderless trade and investment regime
aided by technology, several international tax rules have become inapplicable and inoperative. Several
MNC's are not paying tax anywhere. When countries are facing huge decits, big debt burden, MNC's are
enjoying tax evasion. Professionals are actively helping them in causing grave damage to public interest.
BEPs project has full support of G20 nations. Now BEPs measures are to be implemented effectively by all
member countries from next nancial year. Rules are to be laid down for 21st century business models.
Member countries will have to exchange lot of information. Abuse of information has to be controlled. The
IAA may accept this challenge and constitute an expert panel on global taxation How taxes are evaded and
how legal loopholes to be plugged? How may india respond to BEPs? At postgraduate level taxation
elective curriculum, BEPs may be included. Faculty should be trained for the same.
Thank you.
Prof. Pratapsinh Chauhan

Prof G Soral
General Secretary
Indian Accounting Association

Professor and Dean

University College of Commerce and Mgt. Studies,
Mohanlal Sukhadia University, UDAIPUR (Raj)

Dear Fellow Delegates,

I extend very cordial welcome to all of you on behalf of Indian Accounting Association on the occasion of
38th All India Accounting Conference and International Seminar. The gala event is further making a
qualitative move this year by organising larger number of parallel technical sessions so that papers accepted
after blind review get adequate time for presentation.
The association has been maintaining its steady growth this year under able leadership of Prof Pratap Sinh
Chouhan, President, IAA. Now, there are as many as 47 branches of IAA spreaded over length and breadth of
the country. Individual life members number has risen to 4400 around.The bi-annual refreed indexed
research publication of the association, Indian Journal of Accounting, has grown almost double in its size to
accommodate larger number of papers. National Accounting Talent Search (NATS) a nation-wide
accounting knowledge competition organised by IAA separately for undergraduate and post-graduate
students is agship annual activity of the association for last eight years.
Hope, the Chandigarh conference, due to untiring year-long efforts of Prof karamjeet Singh and his team,
would be a grand success both in terms of physical arrangements and academic deliberations.
I take this opportunity to seek your kind cooperation and invite your constructive suggestions for
strengthening the association further.
In service of IAA
Sincerely yours
(G Soral)

MESSAGE

MESSAGE

MESSAGE

I am immensely happy to note that University Business School, Panjab University,

Chandigarh & Indian Accounting Association Chandigarh Branch are organizing the 38th
All India Accounting Conference and International Seminar on Accounting Education and
Research on 5-6 December 2015 where a large number of eminent faculty members
including professionals, Directors, Advocates and Corporate Executives would deliberate
on various important themes of the Conference. University Business School also proposes
to bring out a Souvenir on the occasion of the Conference containing the programme, special
articles and write-ups on the theme of the conference.
I hope the discussion of conference will guide the members of the institute to live up-to the
expectations of society. I appreciate the proactive role played by the department of business
school and its members.
I convey my best wishes for successful conduct of the Conference and publication of
Souvenir on this occasion.
(Professor (Dr.) Jaspal Singh Sandhu)
Secretary

MESSAGE
November 29, 2015

It is a matter of great pleasure that University Business School is organizing 38th All India
Accounting Conference and International Seminar on Accounting Education and Research
on December 5-6, 2015 in association of Indian Accounting Association.
I wish that the Conference enhances the frontiers of knowledge and acts as a compost bed to
generate great research ideas in the area of accounting and nancial reporting.
I congratulate the organizers for having brought out a Souvenir on this occasion.

(Dinesh K. Gupta)
Professor, University Business School
Panjab University, Chandigarh.
&
President, Indian Accounting Association (Chandigarh Branch)

MESSAGE

It is a privilege to be a guest of honour at this prestigious event. Association of Chartered

Certied Accountants (ACCA) is proud to be a supporter of this important conference, with
an agenda that highlights the important issues that matter for the accountancy profession.
I convey my best wishes for successful conduct of the Conference and publication of
Souvenir on this occasion.

Dr. Mary Bishop

Director of Learning, ACCA

MESSAGE

It is a matter of great pleasure that University Business School, Panjab University,

Chandigarh & Indian Accounting Association, Chandigarh Branch, are organizing the 38th
All India Accounting Conference and International Seminar on Accounting Education and
Research on 5-6 December 2015. University Business School is a pioneer in many student
related activities, organizing this conference is a testimony to this.
Accounting profession has undergone metamorphosis over the years, getting transformed
from a discipline to multi-skill profession, serving the interests of various stakeholders. Due
to their versatility and skills, accounting professionals are involved in frontline activities of
the corporate and have emerged as corporate leaders.
I look forward to an extremely enriching experience in the dignied gathering of industry
representatives, academicians, research scholars and students.

(Professor Suresh K. Chadha)

Chairman
University Business School
Panjab University

SCHEDULE OF SESSIONS
TECHNICAL SESSION I
(December 5, 2015)
Theme of the Session: Role of Accounting in Nation Building
PARALLEL SESSION A
VENUE: UBS Auditorium
TIMING: (11:30 to 14:00) & (15:00 to 16:30)
Chairperson: Prof. H.K. Singh
Vice-Chancellor, Maharishi University of
Information Technology, Lucknow (UP)
Co-Chairperson: Prof. Parmjit Kaur
University Business School
Panjab University, Chandigarh
Keynote Address: Prof. Vijay Kumar Shrotriya
Department of Commerce,
University of Delhi, Delhi

PARALLEL SESSION B
VENUE: UBS Seminar Room A
TIMING: (11:30 to 14:00) & (15:00 to 16:30)
Chairperson: Prof. Ranjan K. Bal
Chairman P.G. Council, Utkal University,
Bhubaneswar (Odisha)
Co-Chairperson: Prof. Manjit Singh,
University School of Applied Management
Punjabi University, Patiala

TECHNICAL SESSION II
(December 5, 2015)
Theme of the Session: Behavioural Accounting
VENUE: UBS Seminar Room B
TIMING: (11:30 to 14:00) & (15:00 to 16:30)

Chairperson:

Prof. Lalit Gupta

Dean, Faculty of Commerce & Management Studies
Jai Narayan Vyas University, Jodhpur (Rajasthan)
Co-Chairperson: Prof. Suveera Gill
University Business School
Panjab University, Chandigarh
Keynote Address: Prof. Virendra Kumar Vasal
Department of Financial Studies,
University of Delhi, Delhi

TECHNICAL SESSION III

(December 5, 2015)
Theme of the Session: Integrated Reporting
VENUE: UBS Room No. 1
TIMING: (11:30 to 14:00) & (15:00 to 16:30)
Chairperson:

Prof. B.C. Sanjeevaiah

Former Head, Department of Commerce
Bangalore University, Bengaluru (Karnataka)

Co-Chairperson:

Prof. Meena Sharma

University Business School
Panjab University, Chandigarh

Keynote Address:

Prof. Manoj K. Anand

Indian Institute of Management
Lucknow

INTERNATIONAL SEMINAR
(December 6, 2015)

Theme of the Session: Accounting Education & Research

VENUE: University Auditorium
TIMING: 09:30 to 11:30

Chairperson:

Prof. H. S. Oza
Former Director, SD School of Commerce
Gujarat University, Ahmedabad (Gujarat)

Co-Chairperson:

Prof. A. K. Vashisht
University Business School
Panjab University, Chandigarh

Keynote Address:

Dr. Mary Bishop

Director of Learning, ACCA,
Former Assistant Dean (Academic Development), Shefeld Business School , U.K.

VALEDICTORY SESSION
(December 6, 2015)
VENUE: University Auditorium
Master of the Ceremony: Prof. Sanjay Kaushik, University Business School
14.00
Welcome Address
Prof. A.K. Vashisht, Former Chairman, University Business School & Former Dean, Faculty of
Business Management & Commerce, Panjab University, Chandigarh
14.05

Report of Technical Sessions

Master Rapporteur

14.10

Valedictory Address
Prof. G.C. Maheshwari, Former Dean, Faculty of Management Studies
M.S. University of Baroda, Vadodara (Gujarat)

14.20

Felicitation of past Presidents & Ofce Bearers of IAA

14.25

Address by the Chief Guest

Prof. Bhagwati Prasad, Former President, IAA &
Former Director, Kausali Institute of Management,
Karnataka University, Dharwad (Karnataka)

14.35

Address of President, Indian Accounting Association

Prof. Partapsinh Chauhan, Vice-Chancellor
Saurashtra University, Rajkot

14.40

Presidential Remarks
Professor A.K. Bhandari
Dean of University Instruction
Panjab University, Chandigarh

14.45

Thanks from IAA

Prof. G. Soral, General Secretary, IAA & Dean, University College of Commerce & Management
Studies, Mohan Lal Sukhadia University, Udaipur (Rajasthan)

14.50

Vote of Thanks
Prof. Karamjeet Singh, Conference Secretary
38th All India Accounting Conference
National Anthem

16.00

Tea

TECHNICAL SESSION-I
ROLE OF ACCOUNTING IN
NATION BUILDING

In the late nineteenth century, professional accounting bodies were concerned mainly with the
concept of recording related with insolvency, insurance, debt collection etc. Over the years,
accountants have widened the scope to cover costing and management information systems,
fraud prevention, asset and business valuation and takeovers. As auditors and financial analysts,
they provide value and supply chain management, portfolio investment analysis, project
appraisal, assurance to risk management, governance and internal control process through highquality corporate reporting. Even for the new central Government of our country the biggest
challenge and opportunity is to contain the black money. Accounting is a catalyst agent for
national development and computerized accounting has provided paradigm shift due to its large
memory. For the inclusive development of India, our accounting professionals should put more
emphasis on human recourse accounting, social accounting, forensic accounting, revaluation
accounting and so on.
The role of Accountancy in Nation Building through economic development covers mainly
following areas: Capacity Building, Global Standards, Sustainability, Standards for Business etc.

A STUDY ON ROLE OF AUTOMOBILE INDUSTRY IN THE ECONOMIC

DEVELOPMENT OF INDIA

Dr. Aarti Kaushal, Assistant Professor, Government College of Commerce and Business
Administration, Sector-50, Chandigarh
Abstract:
The automobile industry in India is expected to be the world's third largest by 2016, with the
country currently being the world's second largest two-wheeler manufacturer. Two-wheeler
production is projected to rise from 18.5 million in F4-2015 to 34 million by F4-2020. India is
worlds sixth largest vehicles manufacturer globally. The government aims to develop India as a
global manufacturing as well as a research and development (R&D) hub. It has set up National
Automotive Testing and R&D Infrastructure Project (NATRiP) centres as well as a National
Automotive Board to act as facilitator between the government and the industry for assisting the
transformation of this highly growing profitable industry. This paper is an attempt to study the
transformation of automobile industry and its role in the economic development of India.
Keywords: Automobile Industry, Passenger Vehicles, Commercial Vehicles, FDI, CAGR.
**************************************

A STUDY ON ROLE OF BANKING INDUSTRY IN THE ECONOMIC

DEVELOPMENT OF INDIA
Dr. Rosy Walia, Professor in Commerce, Government College of Commerce and Business
Administration, Sector-50, Chandigarh
Abstract:
The financial and economic conditions in the country are far superior to any other country in the
world. Credit, market and liquidity risk studies suggest that Indian banks are generally resilient
and have withstood the global downturn well. Positive business sentiments, improved consumer
confidence and more controlled inflation are likely to prop-up the countrys the economic
growth. Enhanced spending on infrastructure, speedy implementation of projects and
continuation of reforms are expected to provide further impetus to growth. All these factors
suggest that Indias banking sector is also poised for robust growth as the rapidly growing
business would turn to banks for their credit needs. This paper is an attempt to put a light on the
changed dynamics of banking industry and its relevance to economic development in the
country.
Keywords: Economic Development, Restructuring, Investment Portfolio, Financial Risk.
**************************************

A STUDY ON TRANSFORMATION OF HEALTH CARE INDUSTRY IN INDIA: IN

PRETEXT OF CONTRIBUTION TO NATIONAL ECONOMIC DEVELOPMENT
Dr Renuka Mehra, Assistant Professor, Government College of Commerce and Business
Administration, Sector-50, Chandigarh.
Abstract
Healthcare has become one of Indias largest sectors - both in terms of revenue and employment.
Healthcare comprises hospitals, medical devices, clinical trials, outsourcing, telemedicine,
medical tourism, health insurance and medical equipment. The Indian healthcare sector is
growing at a brisk pace due to its strengthening coverage, services and increasing expenditure by
public as well private players. India's competitive advantage lies in its large pool of well-trained
medical professionals. India is also cost competitive compared to its peers in Asia and Western
countries. The cost of surgery in India is about one-tenth of that in the US or Western Europe.
The overall Indian healthcare market today is worth US$ 100 billion and is expected to grow to
US$ 280 billion by 2020, a compound annual growth rate (CAGR) of 22.9 per cent. Healthcare
delivery, which includes hospitals, nursing homes and diagnostics centers, and pharmaceuticals,
constitutes 65 per cent of the overall market. The present paper will analyse published reports
from various private and government sources (both hard and e- sources) to provide a factual
insight about the transformation of health care industry in the new era of 2015 -2016.
Key words: Health care, Gross Domestic Product, Case Study.
**************************************

ACCOUNTING SKILL IN INDIAN ECONOMY

Ganesh M. Khekale, Assistant Professor Shivaji College, Akola.
Abstract
This fact is generally recognized that small scale industries constitute the majority of business
organization in India. The problem tends to investigate the need for accounting education in the
small scale industries. The purpose of carrying out this study is to ascertain the necessity of
accounting to enable them to manage effectively. In this paper, the researcher attempts ties to
find out if there is any relationship between accounting and management in Indian economy. The
small-scale industries play important role in an economy and the accountant managers of smallscale industries need to increase their managerial skill and internal control, and some training in
accounting, if they want to become good managers.
Keywords- Accounting Management, Accounting Education, Accounting Trending.
**************************************

CHALLENGES FOR ACCOUNTING IN HIGHER EDUCATION: A CRITICAL

ANALYSIS
Dr. Ashish Kant Chaudhari, Assistant Professor, Faculty of Commerce, Banaras Hindu
University, Varanasi.
Tejbahadur Kannaujiya, Research Scholar, Faculty of Commerce, Banaras Hindu University,
Varanasi.
Saurabh Kumar, Research Scholar, Faculty of Commerce, Banaras Hindu University, Varanasi.
Abstract
Of course higher education in India has been in the news for many reasons. The new HRD
Minister, Mrs. Smirit Irani, has been busy drafting new bills and formulating new policies to give
a big push to higher education and to open up the higher education sector to foreign universities
and their affiliates. Teachers and students hold the main responsibility for improving higher
education. But they need a lot of help. College and university leaders, state and federal officials,
and accrediting associations have the power to shape an environment that is favourable to good
practice in higher education. This paper is a summary of some principles of good practices in
higher education as compiled in a study supported by the American Association of Higher
Education.
Key Words: Higher Education, University, Teachers, Policymaker, Curriculum Reform, Quality
**************************************

ACCOUNTABILITY OF LOCAL GOVERNMENT ADMINISTRATION: AN INDIAN

SCENARIO
Manas Naskar, Assistant Professor of Commerce, Deshbandhu College for Girls, Kolkata, West
Bengal, India.
Abstract
Local government is a local administrative body in rural as well as urban area. Local
administrative body is a people elected institution created for providing basic infrastructure and
services to solve the local problems. The purpose of local governance is to create effective,
responsive, democratic, transparent, accountable local governance framework and to provide
responsive policy guidance and assistance to strengthen the legal, fiscal, economic and service
delivery functions of local government. Local government performance management system
which is a strategic approach to management equips administrators employees, agencies and
citizens at different levels with a set of tools and techniques. The 73 rd and 74th Indian
Constitutional Amendment Act (CAA) is one of the most important constitutional amendments
in the history of urban governance which ensure that the urban local bodies will function
efficiently as democratic units of self-governance with nominal interference of the state
government. Apart from the collection of revenue from internal sources the State Government is
also funding large amount of money to the local authority for the development of the panchayat

and municipal area. In this respect the local authority have an absolute responsibility to keep a
harmony in the local area by providing the needs of local people as far as practicable.
In this background the objectives of the study are to analyse how the selected municipal
administration is performing towards at its citizen and also to develop an administrative
performance management framework Municipal level. The municipalities in the district of South
24 Parganas of West Bengal in India has been taken for the study.
Both primary and secondary data have been used for the study. The primary data is collected
through survey, interviews with office personnel and councillors by administrating a structured
questionnaire. The secondary sources of the study are the West Bengal Municipal Act, 1993,
Reports and documents (e.g. municipal wise Annual Budget, Annual Report and Balance sheet
for a period of five years from 2007-2008 to 2011-2012) and Websites.
It is suggested that a sound and systematic administrative structure will help the municipal
authority for developing effective service delivering system. An organized administrative
structure may develop the communication process in the management and also in the local area
of the municipal organization.
Key Words: Municipal organization, Municipal Governance, Councillors, 74th Indian
Constitutional Amendment Act, Urban Local Bodies, Performance Management, West Bengal
Municipal Act, 1993.
**************************************

ROLE OF ACCOUNTING IN SUSTAINABLE DEVELOPMENT IN NATION

BUILDING
Dr. Krishna Gupta, Associate Professor, Department of EAFM, University of Rajasthan,
Jaipur.
Abstract
The availability of these reports at a single place will enable the ministry to take policy decisions
on this front and also to showcase the responsible business practices of Indian corporate sector to
the whole world. It is very clear that regulations alone will not yield the desired results.
Companies, governments, academia, action groups, think tanks, all must play a role in helping
the business community, which in turn should be more accountable for its conduct and
responsible to its stakeholder. We all can do more to improve the business ethics, corporate
governance, and social responsibility of the global business community. Indian industries have
realized that other than enhancing shareholder value they also need to contribute to large purpose
of societal value. Many people in the business community are beginning to tackle issues of
climate change, as a part of sustainable development, heard on as a business issue. Many more
are beginning to look to the future and invest in clean energy, energy conservation and
efficiency, smart building and green products. Leading companies are appreciating the fact that
mitigating climate change risks are also opening doors for climate opportunities. They are
realizing that the market is changing and the time to act is now. The common theme about these

initiatives is that they not only enhance the livelihoods of those not included in the formal
structure they also make business sense. They are also illustrations of how business can move
towards sustainable future for themselves, of the people and of the nation. It is also important to
take a look at the driving force for such initiatives. The guiding force comes from institutions,
steering businesses on well mowed path.
Keywords: Contribute, Nation, Account, Efficiency, Common, Development, and Building.
**************************************

THE ROLE OF ACCOUNTANTS IN ATTAINING AWARENESS OF

INNOVATIVE BANKING SERVICES AMONG CUSTOMERS
Ms. Parul Bhargava, Research Scholar, Manipal University, Jaipur.
Prof (Dr). M.L .Vadera, Professor, SBC & COE Manipal University, Jaipur
Abstract
Accountancy is a profession that interacts with the society and plays a significant role in the
economic growth of any country. One of the problems often faced by the public is lack of
confidence in the efficiency of the banking. The problem with most of investors in the
developing nations is that they are mostly illiterates and therefore required the services of any
accountant and financial analyst to help access possible areas of banking products. They lack
interest in taking full advantage of the innovative banking technology and the benefits it offers.
An efficient banking is one in which customer is fully aware of information technology at any
given time. Banking efficiency promotes confidence and attracts good patronage. The
accountant's role therefore is crucial in developing, expanding and sustaining the market. His
role in the market cannot be ignored because of concerns from quarters to effectively develop the
emerging economy and the banking being one of the major players in the economy. This paper
examines how accountants play important role in the attainment of organizational and policy
objectives in banking sector. They provide the inputs needed for decision making, direct
management's attention, monitor and measure performance from time to time. Accounting
records provide information regarding the banking business and which may be relied on by
customer while making decision.
**************************************

ROLE OF ACCOUNTING IN NATIONAL DEVELOPMENT

Dr. R. K. Srivastava, Associate Professor, University Dept. of Commerce B.R.A., Bihar
University Muzaffarpur (Bihar).
Dr. S. N. Pandey, Assistant Professor, Dept. of Commerce, P.U.P. College, Motihari (Bihar).

Abstract
Accounting and financial reporting in the public sector, especially in Nigeria, were not given the
right attention it required. But effort put recently has given emphasis on the role and importance
of accounting record and information to nation building. Accounting having a tradition formation
of proper accountability through record keeping and events safeguarding has a lot to contribute
to the development of India. The objectives of my research paper in to show that accounting play
as important role in nation building.
"Good quality financial infrastructure is essential to the development of emerging economies as
it provides investors with an acceptably high level of assurance. Unless resources invested in
putting the plumbing in place can be accounted for, what will stop the roads going nowhere, the
energy disappearing, and the communications breaking down?' Kater asks.
To provide investors with the necessary assurance, institutions, standards and people need to be
in place: This requires international accountancy bodies to work together to develop the
requisite capacity to underpin national economies.
International Financial Reporting Standards (IFRS) have been embraced by over 100 countries
worldwide. "Many benefits accrue from the adoption of global standards.
Global standards facilitate transparency and easy comparison in transactions, which cross
borders and jurisdictions. They enhance a companys ability to attract capital from a larger pool
of investors, driving down the costs of capital. There are also opportunities to eliminate
regulatory arbitrage,' Kater observes.
ACCA has always emphasized the importance of sustainability issues in reporting: 'We
acknowledge, however, that as a result of the global financial crisis, there has been a decline in
interest in sustainability issues. We believe this situation will only prevail in the short-term.'
**************************************

ROLE OF ACCOUNTANCY IN NATION BUILDING

Dr. Mohar Singh, Associate Professor, Dept. of ABST, University of Rajasthan, Jaipur.
Dr. Vinod Kumar Joshi, Associate Professor, Dept. of Bus. Adm., University of Rajasthan,
Jaipur.
Dr. Manju Joshi, Assistant Professor, Dept. of Education, Jaipur National University, Jaipur.
Abstract
Accounting is the information system that measures business activity, processes the data into
reports, and communicates the results of financial transactions to decision makers which could
be individuals, business entity Investors, creditors Taxing Authorities or Government inside the
country or outside the country. In the late nineteenth century, the earliest professional accounting

bodies were concerned mostly with the concepts of insurance, debt-collection, insolvency,
profitability and book-keeping. Over the years, accountancy has expanded to cover;
Costing and cost control
Management accounting and decision making
Fraud prevention and information system
Assets & business valuation
Portfolio Investment analysis
Project appraisal
Assurance to risk management
Accounting is closely related with Company Act, Partnership Act, Sale of Goods Act, Sales Tax
or Value Added Tax Act, Income Tax Laws, Excise or Customs Law and Economics of a
country.
**************************************

ROLE OF ACCOUNTING ETHICS IN CURBING ACCOUNTING FRAUD

Dr. Manisha Verma
Abstract
This paper deals with the concept of ethics and its implications on role of accounting
professionals and aims to examine the significance of ethical issues that challenge professional
accountant in good corporate governance and sustainable business practices.
Ethics has become a key area of concern in accounting at present owing to the series of
corporate scandals that had taken place in the world questioning the credibility of the accounting
profession. These scandals have placed in doubt the effectiveness of contemporary accounting,
auditing and corporate governance practices, for which accounting profession is responsible for.
Thus, recognition of the accounting profession is closely linked with the maintenance of highest
ethical standards. Hence, competence in ethics has become an essential component of being a
professional accountant.
An established set of guidelines provides an accounting professional with a compass to direct
him toward ethical behaviour. Specific responsibilities of the accounting profession are
expressed in the various codes of ethics established by the major organizations such as the
American Institute of Certified Public Accountants. The AICPA Code of Professional Conduct
outlines an accountants responsibilities towards the public interest and emphasizes integrity,
objectivity and due care. Ethical behaviour is necessary in the accounting profession to prevent
fraudulent activities and to gain public trust.
Keywords: Ethics, Corporate scandals, corporate governance practices, Codes of ethics.

**************************************

EFFECT ON RURAL ECONOMY AFTER IMPLEMENTATION OF DOUBLE ENTRY

SYSTEM OF ACCOUNTING IN PANCHAYAT SYSTEM IN WEST BENGAL- A CASE
STUDY
Dr. Anadi Biswas, Associate Professor in Commerce, Dum Dum Motijheel Rabindra
Mahavidyalaya
Abstract
The present paper is an attempt to study the effect on rural economy after implementation of
Double Entry System of accounting and financial control in Panchayati Raj Institution in West
Bengal, with particular reference to Nadia District, based on primary as well as secondary data
obtained from structured questionnaires and appropriate data sources. Accounting and financial
control is of crucial importance for keeping and maintaining proper books of accounts and
management of funds in case of rural local bodies. It is also of equal important to the sustainable
growth in the rural economy. This study is based on the Zilla Parisad and entire Panchayat
Samitis, 34 Sample Gram Panchayats in Nadia District, in the light of the provisions in The
West Bengal Panchayat Act, 1973; The West Bengal Panchayat (Zilla Parisad and Panchayat
Samiti ) Account and Finance Rules, 2003 and The West Bengal Panchayat (Gram Panchayati )
Account, Audit and Budget Rules, 2007. The primary findings of the study are that the
compliance of the regulatory provisions regarding accounting and financial control in the Zilla
Parisad, Panchayat Samitis and 34 Sample Gram Panchayats were very much satisfactory, with
some exceptions. So, it makes a positive growth directly or indirectly on the rural economy. This
study also suggested some measures for further improvement of accounting and financial control
for sustainable growth in rural economy not only in West Bengal but also all over the country.

**************************************

IMPORTANCE OF ACCOUNTING IN ACHIEVING THE NATION'S GROWTH

Dr R.S. Sharma Assistant Professor, Department of A.B.S.T., University of Rajasthan, Jaipur
Anjneya Bhardwaj Research Scholar, Department of A.B.S.T., University of Rajasthan, Jaipur
Abhishek Sharma Research Scholar, Department of A.B.S.T., University of Rajasthan, Jaipur
Abstract
Without proper system no one can get his goal and accounting is that system which can provide
the way to success. In this paper we will discuss the importance of accounting in growth of a
nation. The growth of a nation can be examined by its economy. Economy includes agriculture
income, industrial income and service income. By accounting system we can manage those
incomes. Accounting plays an important role in the economic affairs of a country such as the
calculation of national and personal income, the administration of taxation and credit facilities,
the costing of government expenditures, and the appraisal of investments and financial reporting
of corporations to the markets. The quality of accounting information is vital to the functioning
of a company, and therefore, to efficient resource allocation. Accurate information about the
financial performance of the enterprises is essential for planning and control purposes, and it is
crucial to every economic decision. Hence, the accounting system must be properly designed in

order to prevent the distortion of financial facts, which would, hence, prevent to the
misallocation of resources in non-productive uses. Accounting system in developing countries
should be considered as part of the necessary infrastructure to achieve economic growth.
Accounting has a significant role in a countrys information system, the magnitude and the
strength of which can determine, in large, part the rate at which the economy will progress. Thus,
sound accounting systems need to be established with the ultimate objective of providing reliable
information support for the economic development process.
Keywords: Economic Development, Accounting Information, Accounting Contribution

**************************************

GLOBALISATION OF ACCOUNTING - AN INELUCTABLE FACTOR FOR THE

NATIONAL DEVELOPMENT
Vishnu Gopan, Assistant Professor, P.G. Dept. of Commerce, V.T.M. N.S.S. College,
University of Kerala, Dhanuvachapuram, Thiruvananthapuram, Kerala
Dr. K. Sasi Kumar, Director, Kerala Institute of Co-operative Management (KICMA),
Neyyardam, Thiruvananthapuram, Kerala
Abstract
Globalization makes accounting more complex and challenging. The trade and exchange
between countries all over the globe has been enhanced to large extent in the post globalization
era. This exhibits the need of unanimous accounting practices for having easy comparison of
financial disclosure irrespective of the domicile of companies. Keeping pace with the
globalization, fundamental changes in accounting practices and updated technological
advancement are required. The issues and challenges regard to globalization should be analyzed
thoroughly and steps must be taken to cope with the globalization process for maintaining
transparency and comparability in financial disclosures of companies all over the world. Over the
years, accountancy has expanded to cover costing and information systems, fraud prevention,
asset and business valuation, prospectuses and takeovers. Financial sector development plays an
important role in increasing economic growth, through improvement in the capital accumulation.
In the key areas of financial sector of a country Professional Accountants play several roles
which contribute to sustained economic development. As auditors and financial analysts, they
provide value and supply chain management, portfolio investment analysis, project appraisal,
assurance to risk management, governance and internal control process through high quality
corporate reporting. Globalization creates new dimension on the basement of relations between
accounting systems of the world. Today the accounting domain is into real connections with
phenomenon of globalization. The future dimensions of accounting would be shaped by the
globalization; hence it is imperative to look into the issues, challenges and also the future
dimensions of accounting practices in the post globalized era. The role of accounting became
more pertinent in global perspective after the crisis such as, subprime and Euro suffered by the
global economy recently.
**************************************

IMPACT OF DEVELOPMENT OF ACCOUNTING ON NATION BUILDING

THROUGH CAPACITY BUILDING, SUSTAINABILITY AND PUBLIC INTEREST
Prof. (Dr.) Shiv Prasad Professor Department of Management Studies, Faculty of Management
Studies, Maharshi Dayanand Saraswati University, Ajmer- Rajasthan-India
Dr. Rajkumari Jain Lecturer, Department of EAFM, SPC Government College, Ajmer
Dr. Veena Kumari, Post-Doctoral Fellow Department of Management Studies, Maharshi
Dayanand Saraswati University, Ajmer
Abstract
Accounting plays an essential role in economic development. High-quality corporate reporting is
key to improving transparency, facilitating the mobilization of domestic and international
investment, creating a sound investment environment and fostering investor confidence, thus
promoting financial stability. This study evaluates the impact on the development of accounting
and nation building. The study aims at increasing the knowledge of accounting and its impact on
nation building so that its contribution could be widely understood and appreciated by all and
sundry; and therefore the development of accounting in India could be fostered. The study
employed exploratory, descriptive and survey research methods in order to obtain the opinions of
accounting theorists and practitioners with regard to the development of accounting and its
impact on the nation building in India.
Keywords: Development of Accounting, Capacity Building, Public Interest, Sustainability,
Accounting System, Accounting Profession.

**************************************

ROLE OF ACCOUNTING IN NATION BUILDING THROUGH PROMOTING

SUSTAINABLE AND SUCCESSFUL BUSINESS MODEL
Sabiha Shareef, Assistant Professor in Commerce OUCW, Koti, OU, Hyderabad
Abstract
Presently many developing countries like India are facing problems of depletion and scarcity of
natural resources, climatic changes like droughts, famines, floods, earthquakes etc. along with
other economic problems like unemployment, social inequalities, labour exploitation, and
inclusive growth. Sustainable development & sustainability of the organizations are now
considered as the solutions to such problems and it is here, where Accountancy can play a vital
role in promoting and developing the business organization through providing financial & nonfinancial information in a most transparent way to every stakeholder. Accountancy can help to
develop understanding of relevant data flows and help in proper interpretation and
implementation of the business plans to achieve the targeted goals of not only the organizations,
in particular, but also lead to nation building by safeguarding the reputation of business, helping
in cost saving through promoting plans of energy efficiency and waste minimization. It also

helps in highlighting the opportunities for innovation leading to new and increased revenues
ensuring compliance with statutory regulations and maintaining proper records and leading to
sustainable and long term success of business and its growth.
The present paper is an attempt to highlight the role of accounting in sustainable success of
business leading to overall economic development of the country and to study the qualities of a
Professional Accountant in promoting sustainable and successful business for nation building.
Keywords: Sustainable Development, Sustainable Success in Business, Accountancy.
**************************************

ROLE OF ACCOUNTING IN BUILDING NATION THROUGH ECONOMIC

DEVELOPMENT
Shweta Khemka, Research Scholar, Faculty of Commerce, Banaras Hindu University
Manish Kumar Singh, Research Scholar, Faculty of Commerce, Banaras Hindu University
Abstract
Accounting plays a very important role in economic development. High-quality corporate
reporting is a tool to improve transparency. It also facilitates the mobilization of domestic and
international investment by creating a sound investment environment and fostering investor
confidence, thus promoting financial stability. A strong and internationally comparable reporting
system is helpful to reduce corruption and mismanagement of resources and at the same time, it
also facilitates international flows of financial resources. This way, it strengthens international
competitiveness of enterprises in attracting external financing. It also enables a firm to take
advantage of international market opportunities. Keeping in view the advantages of having a
good reporting system, this paper explains the role of accounting in different areas such as
capacity building, global standards, sustainability, integrated reporting and standards for
business. Thus, this paper sets our key areas where professional accountancy can contribute to
sustained economic development.

**************************************

ROLE OF ACCOUNTING IN NATIONAL DEVELOPMENT: WITH SPECIAL

REFERENCE TO MICROFINANCE INSTITUTIONS OF INDIA
Ms. Rachna Gupta, Research Scholar, Dept. of Accountancy and Law Faculty of Commerce,
Dayalbagh Educational Institute, Dayalbagh, Agra
Prof. Pramod Kumar, Head, Dept. of Accountancy and Law, and Dean Faculty of Commerce,
Dayalbagh Educational Institute, Dayalbagh, Agra

Abstract
Microfinance Institutions are integral part of every nations economic activity. They play a vital
role in nation building and serve as a major tool for poverty alleviation and economic
development. In this paper an attempt has been to examine and analyse the role of Accounting of
Microfinance in nation building. To examine and analyze the role of Accounting of Microfinance
in nation building, 50 respondents were interviewed. Structured and Semi- structured interviews
were conducted.
Respondents include professionals (CAs) as well as Non-professionals
(Executives, Board of Directors and Employees of MSME Development Institute). Results of the
study shows that Microfinance Institutions are playing important role in national development
mainly through CSR activities such as through providing educational facility, employment
opportunity, social welfare projects, water facility, medical facility etc. On the other hand,
financial reporting practices of MFIs are not good because of lack of regulatory authority for
Microfinance Institutions. So there is need to improve accounting function of MFIs.

**************************************

SUSTAINABILITY REPORTING IN COMMERCIAL BANKS OF INDIA

Pushpa Yadav Research Scholar, Faculty of Commerce, BHU, Varanasi
Nilanjana Kumari Research Scholar, Faculty of Commerce, BHU, Varanasi
Suman Devi Research Scholar, Faculty of Commerce, BHU, Varanasi
Abstract
During the last few decades, the changing pattern of global environment has made the corporates
accountable for their impact on the communities and environment, both economic as well as
non-economic, like education, climate change, community health, business sustainability.
Commercial banks being pillar of the economy plays a vital role in the economic development of
country. As environmental protection and economic development both are important,
sustainability reporting has become a prominent tool for mitigating the reverse impact of
economic development.
Though sustainability reporting is still in nascent stage in India, its growing importance at the
global level has motivated the Indian banks and other business firms to adopt sustainability
reporting as a tool to enhance their competitiveness. It has emerged as a communicational tool
for the companies to enhance the confidence of their stakeholders by disclosing their social and
environmental effect. Keeping in view the importance of commercial banks in the economy and
growing importance of Sustainability Report, the study aims to reveal present sustainability
reporting practice prevailing in Indian commercial banks.
Keywords: Sustainability, Sustainability Report, Commercial Banks, GRI Guidelines
**************************************

ACCOUNTING & ECONOMIC DEVELOPMENT

Dr. Pradeep Asthana Assistant Professor, Dept of Management Commerce & Economics SRM
University,Dewa Road, Lucknow
Dr. Pooja Pandey Assistant Professor, Dept of Commerce & Financial Studies, Bilaspur
University Old High court Building, Bilaspur.(C.G)
Abstract
The progress of an economy is influenced by the performance of the accounting systems used at
micro and macro-economic level. Economic development depends on ability of using economic
recourses efficiently and effectively. The main goal for all developing countries is their
economic development. Accountants can take a lot of responsibility for countrys economic
development. Economic development increased depends on the seriously and strictly delivered
recourses. Since accounting is focused on systematic calculation of cost therefore is one of the
main source of economic development. An accountant can take different tasks on country
economic development. The present paper makes an attempt to identify the role of accountancy
in the economic development. Further paper concludes and suggests that ethics should be given
top priority while preparing the financial statements so that the information contained in it or the
decisions taken based on it are in favour of the individual as well as organization and country.
The accounting education programs shall be reviewed and the accounting education shall be
connected to the economy.
Keywords: Accounting, Economic Development, Investment Decision, Capital Formation
**************************************

MANTRA OF ACCOUNTING FOR SUSTAINABLE GROWTH OF ECONOMY

Dr.P.Hanumantha Rao, Assistant Professor, Department of Management Studies, Andhra
University Campus, Vizianagaram,
Dr.K.Kanaka Raju, Assistant Professor, Department of Management Studies, Andhra
University Campus, Tadepalligudem, West Godavari

Abstract
The accountant plays an important role in economic development plans, providing the
information, optimal distribution of available resources and overall development plans. The main
objectives of this paper are to identify the role of accountant in development of a nation and also
know the percentage of variation in high quality reporting as well as in international flow of
financial resources through the different independent variables along with a suitable suggestions
to strengthen the role of accountant in developing the nation. The data collected from the 150
respondents through the structured questionnaire each of 50 respondents represented for the
accountants and the academicians. The SPSS 16.0 version was used to interpret the results. The
frequency of percentage, regression techniques were applied to derive the results. The study
found that the 27.3 percent of variation in high quality reporting was explained by the factors viz.

improve the transparency, reduce the corruption and mismanagement of resources. The study
also observed that 69.1 percent of variation in international flow of financial resources was
explained by factors viz. taking advantage of international market opportunities promote
financial stability, strengthen international competitiveness of enterprises, foster the investor
confidence and create a sound investment environment. This study observed that taking
advantage of international market opportunities was the most favourable response towards the
international flows of financial resources, followed by the other variables and also stated that
there was a significant difference between the dependent and independent variables. It is
suggested that the education of accounting shall be connected to the economic development.
Key Words: High Quality Reporting, International Flow of Financial Resources, Financial
Stability.

**************************************

GLOBAL ACCOUNTING CONVERGENCE AND ITS ROLE IN INDIAN

ACCOUNTING SYSTEM AN ANALYSIS OF IFRS EDUCATION IN SELECT
COLLEGES AFFILIATED TO BANGALORE UNIVERSITY
Dr.M.Muniraju, Associate professor, Dept. of commerce, Bangalore University, Bangalore
Ganesh.S.R, Research scholar, Dept. of commerce, Bangalore University, Bangalore
Swaminath S, Guest Faculty, Dept. of commerce, Bangalore University, Bangalore

Abstract

Accounting is shaped by economic and political forces. It follows that increased worldwide
integration of both markets and politics makes increased integration of financial reporting
standards and practices. In the present era of globalization, more than 4000 MNCs establishing
their businesses in India. Such environment requires a uniform accounting standards for global
business. These Indian business firms are presenting their financial statements as per IFRSs,
Indian AS, US GAAPs, Japan GAAP, etc., With a view to avoid this kind of inconvenience and
cut down the cost, the accounting bodies across the world are working towards a standard set of
accounting policies, valuation norms and disclosure requirements. In this scenario there is a
requirement of uniform Accounting System for India. India, too, decided to converge to
International Financial Reporting Standards (IFRS). This will help in eliminating multiple
reporting, access to global capital markets, access of more Foreign Investment, more mergers
and acquisitions and economic growth, etc. In this regard, there is more requirement of IFRS
Knowledge for Professional Accounting Bodies, Academicians as well as for the Students. The
study aims to examine students knowledge and interest on adoption of IFRS in India, the
preferred approach and pedagogy of introducing IFRS, and the utility of learning IFRS. The
results show that most students are keen to learn IFRS and they know the positive impact of
learning IFRS. The accounting professionals and educators have to develop relevant materials on
IFRS.

Keywords: International Financial Reporting Standards (IFRS), Institute of Chartered

Accountants of India (ICAI), International Accounting Standard Board (IASB), International
Accounting Standard Committee (IASC).
**************************************

ACCOUNTING AS AN INVESTIGATIVE OUTLOOK PARADIGM SHIFT FOR

NATION DEVELOPMENT
Geetha Rani V, Research Scholar, Department of Commerce, School of Business- Management
and Legal Studies, University of Kerala, Kariavattom, Thiruvananthapuram. Kerala
Renu Sree S, Assistant Professor, P.G. Department of Commerce, D.B. College, Sasthamcotta,
Kollam District, University of Kerala, Kerala
Deepika Sasidharan, Research Scholar, Department of Commerce, School of BusinessManagement and Legal Studies, University of Kerala, Kariavattom, Thiruvananthapuram. Kerala
Abstract

Privatization process in Indian economy and liberalization of trade and commerce has led to
creation of a plethora of opportunities and options with high financial implications on businesses.
It is the fastest growing area of accounting today. Investigative Accounting", is often associated
with investigations of criminal matters. A typical investigative accounting assignment would be
an investigation of employee theft. Other examples include securities fraud, insurance fraud,
kickbacks and proceeds of crime investigations. Investigative accountants are also known as
fraud investigators, forensic accountants, forensic auditors or fraud auditors. Forensic accounting
is a growing area of practice in which the knowledge, skills and abilities of advanced accounting
are combined with investigative expertise and applied to legal problems. Forensic accountants
are often asked to provide litigation support where they are called on to give expert testimony
about financial data and accounting activities. In other words, we can say that forensic
accounting are practiced by skilled accounting specialists who are becoming part and parcel of
most financial audits--an extra quality control step in the auditing process that will help reduce
financial statements fraud. Forensic and Investigative Accounting explains and demonstrates
how an effective forensic accountant needs a solid understanding of accounting, investigative
auditing techniques, criminology, and courtroom procedures, as well as excellent
communications skills, both written and oral. In today's litigious and highly regulated climate, all
accountants--external, internal, forensic consultants and corporate accountants--must possess this
knowledge base and develop these techniques. With the growing complexity of the business
environment and the growing number of business related investigations, forensic accounting
professionals are increasingly asked to assist in the investigation of financial and business related
issues. This paper attempts to explain the need, uses and the role of forensic accounts in this
dynamic environment.

**************************************

FORENSIC ACCOUNTING IN INDIA NEED OF THE HOUR

Dr. Gaddam Naresh Reddy
Abstract

The increased number of frauds and the helplessness of the authorities to combat them has
brought the Forensic Accounting in the limelight. Forensic accounting is very important tool to
detect, investigate and prevent the frauds. Forensic accounting is not a new concept, however, its
acceptability is just gaining momentum in India because of its perceived roles in national
development and transformation. There is a need of the hour to discuss the role of forensic
accounting in the detection and control of financial frauds in India. The main objective of this
paper is to know the perception of accounting professionals on the need, growth and
development, skills required and financial fraud detection and control with the help of forensic
accounting tool. This study concludes that all corporate sector units should use forensic
accounting for minimization of financial frauds. Hence, the forensic accounting is very much
needed to curb the business frauds in turn it helps the nation building.
Keywords: Forensic Accounting, Fraud, Scam, Fraud Detection, Fraud Control

**************************************

FORENSIC ACCOUNTING: AN EFFECTIVE TOOL OF CORRUPTION CONTROL

Dr B. L. Gupta, Associate Professor, Department of Accountancy and Business Statistics,
University of Rajasthan.
Rakesh Rangwani, Research scholar, Department of Accountancy and Business Statistics
University of Rajasthan.
Abstract

Despite rapid economic growth and assiduous efforts in anti-corruption campaigns, Indian
financial system continues to be plagued with rampant corruption problems. The progress
towards corruption reduction has stagnated over the last decade as measured by corruption
perception indices. This paper focuses on the corporate sector as the main source of corruption in
Indian taxation system, with particular emphasis on the impact, that forensic accounting practices
have, on the level of corruption. Using a unique country wide firm-level dataset, the present
paper examines some distinct characteristics of corruption in Indian corporate sector. The
research paper also focuses on the corruption in the area of taxation in India and its relation to
the International Financial Reporting Standards and Auditing Practices followed in corporate
sector. The paper empirically tests the relationship between forensic accounting practices and its
impact on the level of corruption. Our findings suggest that better accounting practices can help
in reducing the incidence of corruption activities and the amount of corruption payments. The
study also focuses that the high quality accounting standards alone will not necessarily enhance

the quality of accounting practices and thus will not automatically bring down the level of
corruption. This study also suggests the role of Forensic Accounting in controlling the corruption
practices in the country.

**************************************

ENVIRONMENTAL MANAGEMENT ACCOUNTING A DECISION MAKING TOOL

OF INDIAN CORPORATE SECTOR
Dr. Bimal Jaiswal, Dept. Of Applied Economics, Faculty of Commerce, University of
Lucknow, Lucknow, U.P.
Dr. Bhuvana Venkatraman, P.G.Dept of Commerce, St. Thomas College, Bhilai, Chhattisgarh,
Affiliated to Pt Ravishankar Shukla University, Raipur, Chhattisgarh.
Ms. Saloni Bhasin, Research Scholar, Dept. Of Applied Economics, Faculty of Commerce,
University of Lucknow, Lucknow, U.P.
Dr. Anoop Kumar Singh, Dept. Of Applied Economics, Faculty of Commerce, University of
Lucknow, Lucknow, U.P.
Abstract
There is a growing concern regarding environmental consciousness among the business people
for sustainable economic development with protection of natural environment. Environmental
Management Accounting (EMA) is an effective decision making tool for improving
environmental and economic performance of the Indian corporate entities. Tibor described
Environmental accounting (EA) as the process of identifying, measuring, accumulating,
analyzing, preparing, interpreting, and communicating financial and non-financial environmental
information to help managers fulfil corporate environmental objectives. Such sustainability
initiative encompasses social and environmental responsibilities for effective environmental
management that assists companies in managing, measuring, and improving the environmental
aspects of their operations. The researcher makes use of secondary data collected from
Environment Accounting reports, studies published online, International Federation of
Accountants reports and various accounting journals.
The present paper is a humble attempt to evaluate the theoretical background of the concept of
Environmental Management Accounting and to briefly explain the role and importance of
Environment Accounting. It also brings about the major challenges in the smooth development
of Corporate Environmental Accounting.
Keywords: Environmental Management
Decision- making, Corporate

Accounting,

Environmental Awareness,

**************************************

Pollution,

ROLE OF ACCOUNTING INFORMATION SYSTEM IN ECONOMIC

DEVELOPMENT
Dr Ashok Agarwal, Assistant Professor, Department of A.B.S.T., University of Rajasthan,
Jaipur
Abhishek Sharma, Research Scholar, Department of A.B.S.T., University of Rajasthan, Jaipur
Abstract
The importance of accounting in achieving economic development through accounting
information and the need to develop accounting for economic development through the
contribution of the trends and the capacity of accounting in economic development stems
emphasis of this study. The paper tries to show the role of accounting in economic development
and to link the development of the accounting to development of nation. The trends and capacity
of accounting and its role in economic development is the proposed strategy to reach a better
economic and social status through implementing long term developmental plans. The
accounting system must respond to the needs and expectations of the nation, but underlining the
fact that we are in the era of globalization, it must respect simultaneously the international
standards. It is known that the success of these attempts rely on various factors and aspects,
including the availability of the information which can be used to make decisions for the purpose
of developing , implementing and following up these plans.
The accounting information plays a positive role in the integrity of these decisions as well as the
success of the development plans such role is derived from the availability of information
required for preparing, implementing and following up these plans. The failure of such plans is
attributed to the absence of a serious evaluation of the accounting role in succeeding the
economic development plans.
Keywords:Accounting information, Economic Development, Accounting System, Accounting

**************************************

THE 3 BLS OF ACCOUNTING FRAMEWORK

Prof. Arvind Kumar Professor & Dean Department of Commerce University of Lucknow,
Lucknow, U.P, India
Shreya Sheel Research Scholar Department of Commerce University of Lucknow, Lucknow,
U.P, India
Abstract
3 BLs is an abbreviated word of Triple Bottom Line. Triple Bottom Line is a societal and
ecological contract between the community and businesses. There is no complete and standard
method or form for calculating the TBL. Neither is there a universally accepted standard for the
measures that consist of each of the three TBL categories (Public, Planet and Profit). This can be

viewed as a strength because it allows a user to opt the common framework to the needs of
different entities (businesses or non-profits), different projects or policies (infrastructure
investment or educational programs), or different geographic boundaries (a city, region or
country). This research paper explores sustainability and the Triple Bottom Line, which is a
method used to examine the effects of business activities on the economy, social equity, and
environment. It also discusses the Global Reporting Initiative, an international program that
provides parameters to measure practices that align with the Triple Bottom Line. The paper also
explores the framework of Triple Bottom line reporting consistent with Global reporting
Initiatives, ISO 26000 and SRI(Socially Responsible Investment). It defines and identifies the
Triple Bottom line method and conceptual framework used all over the world. The proposed
research study is basically based on the secondary data and the nature of study is descriptive.
Keywords: Triple Bottom Line, Triple Bottom Line Reporting, Global Reporting Initiatives and
Socially Responsible Investment
**************************************

CAN FORENSIC ACCOUNTING DETER FRAUDULENT ACTIVITIES?

Balaji A, Assistant Professor, Department of Commerce & Management, Vijaya College,
Jaynagar 4th Block, Bangalore
Sudarshan Chalapathi V S, Assistant Professor, Department of Commerce & Management,
Sadhguru Sainath Degree College, Bangalore
Manjunath N, Research Scholar Department of Commerce, Bangalore University, Bangalore
Naveen Kumar I M, Assistant Professor, Department of Commerce & Management, Vijaya
First Grade College, Vijayapura, Bangalore
Abstract
The study examines the effect of forensic accounting on fraud detection in Indian firms. The aim
of this study is to determine the relationship between fraud detection and forensic accounting. To
achieve this objective, data was collected from primary sources. The primary data were collected
with the help of a well-structured questionnaire of three sections administered to fifteen firms in
Bangalore City, Karnataka State. The collected data were analyzed with descriptive statistics
using ordinary least square (OLS) regression and Chi-square. The study reveals that the
application of forensic accounting services on firms affects the level of fraudulent activities.

**************************************

CREATIVE ACCOUNTING DETRIMENTAL TO NATION BUILDING EVIDENCES

FROM INDIA AND USA
Dr. Dhanesh Kumar Khatri, Professor and Head, Department of Finance, Institute of
Management Studies,(Faculty of B J S Rampuria Jain College)J N Vyas Colony, Bikaner

Abstract
Creative accounting is practically using the flexibility provided within the accounting principles
or accounting standards to manage recognition, measurement and presentation of different
accounting figures to serve the purpose of those who prepare the accounts rather than those who
are likely to use the accounts. Application of creative accounting skills beyond a certain limit
leads to financial scam. In the recent past just before Satyam scam was unearthed Satyams
employee roll revealed that around 50,000 people were employed in Satyam and US GAAP
statement of Satyam as on 31st March, 2008 disclosed a bank deposit of Rs. 3,400 crores. It
raises an eyebrow on the role of statutory auditor Price Waterhouse Corporation (PWC). What as
an auditor they were doing? Why didnt they verify the balance with the banker? Isnt it
detrimental to nation building? Accounting scandal of Enron was revealed in October 2001
leading to the bankruptcy of Enron Corporation and dissolution of one of the auditors of Enron
namely Arther Andersen. Story of Enron scam is not only the biggest scam in the corporate
world of USA but also a biggest question mark on the accounting and auditing regulation in the
country like America. Despite the fact that both of these companies were considered to be good
at corporate governance still their owners, i.e., promoters/directors greed led to financial scam.
This shows that good governance is only an ornament to cover the ugly face of dirty financial
statements.
**************************************

DIGITAL ACCOUNTING IN BANKING SECTOR- AN OVERVIEW

Sneha Chaurasiya Research Scholar, Faculty of Commerce, Banaras Hindu University,Varanasi
Minu Singh Research Scholar, Faculty of Commerce, Banaras Hindu University, Varanasi
Anindita Chakravorty Research Scholar, Faculty of Commerce, Banaras Hindu University,
Varanasi
Abstract
In todays scenario digital accounting system and information technology plays a crucial role.
The changing business environment needs a change in banking system too. In order to deliver
quick and efficient services to their customers; bank using manual banking system cannot adopt
itself in changing business environment; it should adapt digital accounting system. The banks
which are operating with computerized accounting/banking systems can offer much improved,
quick and efficient services to the clients/customers. Nowadays banking industry is facing high
competition due to advancement in technology and globalization. Modernization has become a
must for all the local banks. In this paper we are going to talk about digital accounting systems in
banking sector and also how banks digitalization of accounting has helped eradicate many
problems in banking field. This paper also gives some insights to differences between
computerized accounting systems and manual accounting/ banking system. Customers will be
faithful to those banks which by using big data and social banking, are able to anticipate
customers needs and are able to accompany them with best services.
Keywords: Computerized
Accounting.

Accounting System,

Manual Banking System,

**************************************

Banks,

Digital

ROLE OF COMMERCE EDUCATION IN NATION BULIDING:

CHALLENGES AND OPPORTUNITIES
Dr. Mahesh Singh Rajput Department of Commerce, S.S.N.P.G.College, Todi,GudhaGorji,
Jhunjhunu, (Rajasthan)
Abstract
In the wake of globalization and liberalization of Indian economy, there has been a sweeping
transformation in almost all spheres of trade, industry and commerce. In this scenario, the
organizations have to face new challenges, threats and opportunities in terms of technology,
quality, fierce competition, customer relations, human resource development, hedging of
financial risk and so on. This calls for improvement in the quality commerce education in order
to fulfil the demand of the corporate bodies for employable commerce graduates/ post graduates
who have adequate skills, analytical power, responsiveness to real-life situations, problem facing
attitudes, opportunity-identifying and utilizing capabilities and so on to face the challenges of
tomorrow.
The paper is structured as follows. At first some definition of commerce is provided after
introduction of theme of paper. The paper continues with a review of importance of commerce &
contents of commerce education. The present paper modestly attempts to address certain relevant
issues in connection with the challenges and opportunities faced by the commerce education in
India in this dynamic business scenario.
Key Words: Commerce Education, Indian Economy, Challenges, Opportunities, Business
Scenario

**************************************

ROLE OF ACCOUNTING IN THE DEVELOPMENT OF MODERN INDIACHALLENGES AND OPPORTUNITIES

Sapan Asthana Research Scholar, Dr. A.P.J. Abdul Kalam Technical University, Lucknow
Prof.H.K.Singh Vice-Chancellor, Maharishi University of Information Technology,Lucknow
Dr. Brajesh Kumar Tiwari Associate Professor, Department of Management Studies, Rajendra
Prasad College of Management, Azamgarh, UP
Dr. Rajeev Nayan Singh Assistant Professor, Dept. of Commerce, Jagran College of Arts,
Science & Commerce, Kanpur, UP
Abstract
Accounting is the measurement, processing and communication of financial information about
economic entities. Accounting, which has been called the "language of business", measures the
results of an organization's economic activities and conveys this information to a variety of users
including investors, creditors, management, and regulators. Practitioners of accounting are

known as accountants. The terms accounting and financial reporting are often used as synonyms.
Accounting can be divided into several fields including financial accounting, management
accounting, auditing, and tax accounting. Accounting information systems are designed to
support accounting functions and related activities. Financial accounting focuses on the reporting
of an organization's financial information, including the preparation of financial statements, to
external users of the information, such as investors, regulators and suppliers and management
accounting focuses on the measurement, analysis and reporting of information for internal use by
management. The recording of financial transactions, so that summaries of the financials may be
presented in financial reports, is known as bookkeeping, of which double-entry bookkeeping is
the most common system. Accounting is facilitated by accounting organizations such as
standard-setters, accounting firms and professional bodies. Financial statements are usually
audited by accounting firms, and are prepared in accordance with generally accepted accounting
principles (GAAP). GAAP is set by various standard-setting organizations such as the Financial
Accounting Standards Board (FASB) in the United States and the Financial Reporting Council in
the United Kingdom. As of 2012, "all major economies" have plans to converge towards or
adopt the International Financial Reporting Standards (IFRS). The history of accounting is
thousands of years old and can be traced to ancient civilizations. The early development of
accounting dates back to ancient Mesopotamia, and is closely related to developments in writing,
counting and money; there is also evidence for early forms of bookkeeping in ancient Iran, and
early auditing systems by the ancient Egyptians and Babylonians. By the time of the Emperor
Augustus, the Roman government had access to detailed financial information. Double
developed in medieval Europe, and accounting split into financial accounting and management
accounting with the development of joint-stock companies. In modern India there are various
challenges and opportunities faces by accounting.
Keywords: Accounting, Financial, International
Financial Accounting Standards Board (FASB)

Financial

Reporting

Standards

(IFRS),

**************************************

ROLE OF ACCOUNTING IN BUILDING A NATION

Dr. SHARDA GANGWAR Institute for Excellence in Higher Education, Bhopal [M.P.]
Miss. NATASHA GOGIA Institute for Excellence in Higher Education, Bhopal [M.P.]
Abstract
Accounting is the systematic recording, reporting, and analysis of financial transactions of a
business. The person in-charge of accounting is known as an accountant, and this individual is
typically required to follow a set of rules and regulations, such as the Generally Accepted
Accounting Principles. Accounting allows a company to analyze the financial performance of
the business, and look at statistics for net profit. An accountant compulsorily needs to follow all
the applicable accounting standards while preparation of accounts of a company and it is the
prime duty of an auditor to verify whether all the applicable accounting standards are followed
by the company or not. Accounting standards play a significant role in accounting in a proper
manner with all the adequate material disclosures to be made in by the company. The companies

now-a-days appoint a chartered accountant in order to ensure proper recording, summarizing

analysis and disclosures of their books of accounts. A Chartered Accountant even provides
consultancy in the areas of various taxes levied on the company such as income tax, service tax,
etc.

**************************************

ACCOUNTING EDUCATION IN INDIAN UNIVERSITY SYSTEM: CHALLENGES

AHEAD
Dr. Amrendra Kumar, Assistant Professor, Department of Commerce, Nagaland University
Chandan Kumar, Research scholar, Department of Commerce, University of Lucknow,
Lucknow,
Indra Pal, Research scholar, Department of Commerce, University of Lucknow, Lucknow

Abstract
Accounting education has gone sea changes in recent years. The environment of accounting in
the various developing economies has also changed and certain new challenges have emerged.
The Information Technology and the Globalisation of Markets are the primary factors requiring
various changes in the accounting education and research. Accounting Standards are being
converged to International standards. Presently, accounting practices are done with help of
software packages. Indian academic institutions have realized these challenges and have started
to revise the accounting curriculum. Major concern is lack of quality researches in the field of
accounting. There is also a lack of interface between the accounting researchers and the business
and industry. The paper attempts to find out the major challenges faced by accounting education
and tries to give suggestions to meet the challenges.

**************************************

A COMPARATIVE STUDY OF INDIAN ACCOUNTING STANDARD (IND AS) 12INCOME TAXES AND IAS 12- INCOME TAXES
Dr. (Mrs) Smita Deshpande (CA), Associate Professor in Accountancy, S N D T Arts and
Commerce College for Women, Karve Road, Pune
Abstract
When financial statements are prepared according to the provisions of Accounting and financial
reporting standards, they reflect qualitative and realistic financial position of the entity. The users
can rely on such statements for their financial decisions. The standards give rules and methods
for preparing financial statements and when these standards are followed statements become
comparable because of the uniformity in preparation. Companies require uniform and similar
accounting methods and procedures across the world. The IFRSs issued by the IASB, give the

uniform accounting standards which if followed throughout the world will safeguard the
interests of international investors. Institute of Chartered Accountants of India is prescribing
Financial Reporting Standards with certain carve outs from IFRS. Ind AS 12 and IAS 12 explain
accounting treatment for Income Taxes. The standard prescribes the accounting treatment for
current income tax and income tax expenses in future. It also gives guidance on calculation of
the deferred taxes. The entity should recognize a deferred tax liability (asset), whenever recovery
or settlement of the carrying amount of an asset or liability would make future tax payments
larger (smaller) than they would be if such recovery or settlement were to have no tax
consequences. Deferred tax liabilities are the amounts of income taxes payable in future periods
in respect of taxable temporary differences.
Deferred tax assets are the amounts of income taxes payable in future periods in respect of
deductible temporary differences or the carry forward of unused tax losses or the carry forward
of unused tax credits. To attract more foreign capital India needs to adopt the International
Financial Reporting Standards (IFRS), in total.

**************************************

ROLE OF ACCOUNTING IN NATION BUILDING: AN OVERVIEW

Dr. P.C. Saini Assistant Professor Department of ABST University of Rajasthan, Jaipur
Abstract
Accounting information serves as a guide for national and international economic development.
Though accounting as a profession is technical, there is the need for every citizen to have an idea
of the financial statements to help him/her to make an informed judgment on whether the people
entrusted with national or industrial assets are making judicious use of those assets. While the
attention-directing is mainly supplied by Cost Accounting, problem-solving information is
supplied by management accounting. Attention-directing and problem solving information relate
to issues of planning, control and decision making for short and long range operation. Many
operative decision-making processes rely on such information like budgeting, variance analysis,
capital investment appraisal, cost determination, contract costing and a lot of other information
Accountants need to de-emphasis on the score-keeping information and pay more attention on
the attention-directing and problem-solving information required for day to day decision-making
by management. Though score-keeping or steward accounting is a statutory requirement
accountant need to understand the shortcomings of financial accounting information.
Keywords: Cost, Information, Capital, Contribute, Nation, Account, Efficiency, Common,
Development, Building, Problem, Budgeting

**************************************

ROLE OF ACCOUNTING IN DEVELOPMENT OF NATION

Dr. Om Prakash Sharma, Lecturer in Bus. Admn. S.R.K.P. Govt. P.G. College, Kishangarh
(Ajmer)
Abstract
Accounting provides information about funds, resources availability, financial transactions,
internal audits and financial records. It helps in analyzing and interpreting final economic data
results. The present paper gives detail information about the importance and the role played by
accounting at different level including personal or business level, social level, state level,
national level and international level. The social business, and national development is
influenced by the performance of the accounting systems used at economic level. Businessmen
use accounting to measure performance of company and to make business decisions. Accounting
plays an important role in economic development by providing the valuable information which is
important to implement planning and policies. Accounting helps to give detail about record of
taxes, government projects, fellowships, public distribution system, banking sector, business,
finance etc. The accounting can promote financial stability, facilitate the absorption of domestic
and international funds. Although there are some weaknesses which are associated with
accounting, like low accounting standards, accounting scandals; yet it is fact that well established
and accurate accounting is directly proportional to nations development.
Key Words: Accounting, Economic Development, Accountancy Bodies, Business

**************************************

DEPRECIATION - SHIFT FROM RATE GUIDANCE TO USEFUL LIFE REGIME

C.M.A. Rakesh Chawla Asst. Prof., Dept of Commerce, S.S.N. College, University of Delhi.
Abstract
With the introduction of the revamped Company Law, changes have brought about quite a few
areas of interest. The present article focuses on the changes in computation of Depreciation. The
Companies Act, 2013 requires companies to compute the depreciation in accordance with the
Schedule II to the Companies Act which provides useful lives of assets to be used in computing
the depreciation. Accordingly, provisions governing charge of depreciation in the erstwhile
Schedule XIV to the Companies Act, 1956 have been replaced with Schedule II to the
Companies Act, 2013. The article explains the significant difference between provision under
Schedule XIV & Schedule II, which includes shift from depreciation rate to useful life approach,
assessment of useful life & residual value, depreciation of tangible and intangible assets,
componentization approach, impact of changes in the provisions regarding double or triple shift
working, full depreciation on small value assets and lastly the transitional provisions. The article
concludes with the certain issues which need to be considered while
applying the provisions of the Act.
**************************************

A STUDY OF INDIAN CORPORATE ACCOUNTING PRACTICES, ISSUES, ITS

PRACTICES AND CHALLENGES IN CORPORATE ENVIRONMENTAL
ACCOUNTING
Dr. Kapil Raj Chandoriya Faculty of Management, Gwalior
Abstract
Environment is becoming a much more urgent economic, social and political problem all over
the world. World is facing the twin problem of promoting economic development and protecting
the environment. In this juncture the proper accounting of environmental effects on economic
development is pre-requisite to have a sustainable development. It is observed that many efforts
have been done to develop a mechanism of incorporating environmental data with national
income to compute economic development. Moreover, all such attempts do not address the micro
economic aspect of environmental data as such interaction between a specific firm and
environment. The accounting of interaction between firm and environment is a pre-requisite to
find out sustainability gap in micro level. This study attempts to address the development of
corporate level environmental accounting and the problems associated with that. The study is
under taken considering the environmental accounting and reporting adopted by sample
companies in India.
Keyword: Environment, Accounting and Reporting, Environmental Cost, Liability and Assets

**************************************

ROLE OF ACCOUNTING IN NATION BUILDING

Prof. G.P. Prasain Department of Commerce, Manipur University, Canchipur
Lalhriatchhungi Research Scholar, Department of Commerce, Manipur University, Canchipur
Abstract
Nation can be built with the correct policies in place and proper implementation of Accounting,
for which expert accountants are the need of the hour since the demand and scope has grown at
gigantic level. They are indispensable for the growth of the economy and are important in a
number of ways in dealing with public interest, expenditure, framing budget and sustainability
etc. Accounting has its own responsibility for bringing betterment of the nation through the
various forms of accounting, taxation, company law, foreign exchange, financial market, project
finance and many more. Knowledge, ethics, honesty, fairness, accountability and probity are all
integral parts of the public expectation of every accountant which in turn determine the quality of
accounting information generated for decision-making. This paper deal with the importance of
accounting and the role it plays in building the nation.
Keywords: Accounting, Sustainability, Nation
**************************************

INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) AND INDIAN

ECONOMY WITH SPECIFIC REFERENCE TO SMES
Abhishek Tripathi, Assistant Professor, Prestige Institute of Management, Dewas, M.P
Dr Dharmendra Mehta, Reader, JNIBM, Vikram Vishvavidyalaya ,Ujjain, M.P.
Dr N.K. Mehta, Associate Professor, SUBIS, Barla, Distt-Raisen M.P
Abstract
A financial reporting system supported by strong governance, high quality standards, and firm
regulatory framework is the key to economic development. Indeed, sound financial reporting
standards underlie the trust that investors place in financial reporting information and thus
play an important role in contributing to the economic development of a country. International
Financial Reporting Standards (IFRS) are regarded as a set of International Accounting
Standards stating how particular types of transactions and other events should be reported in
financial statements. IFRS are standards, interpretations and the framework for the preparation
and presentation of financial statements. IFRS are regulated and issued by the International
Accounting Standards Board (IASB) and more popularly recognized as the Global Financial
Reporting Standards. Over the years, convergence with IFRS has gained momentum across the
globe. Indian Accounting Standards converged with IFRS from April 1, 2011. This paper
discusses the IFRS adoption procedure in India, the utility of adopting IFRS, the problems and
challenges faced during IFRS convergence in Indian SMES.
Keywords: IFRS, SMEs, Indian Accounting Standards Organizations, Finance
**************************************

ACCOUNTING CYCLE IN COMPUTERISED ACCOUNTING ENVIRONMENT-A

STUDY
Dr. Baneswar Kapasi, Assistant Professor in Commerce, Netaji Mahavidyalya, Arambagh,
Hooghly
Abstract
Traditionally, accounting cycle consisted of identification of transaction, journalise them, post
them in suitable ledger, balancing them, prepare trial balance, make adjustment entries, prepare
post adjustment trial balance, and prepare revenue statement and statement of assets and
liabilities. Today, majority of the business houses use computer and accounting packages for
accounting.
In computerised accounting system, the accounting tasks are systematically reduced in
accounting packages and after entering the primary entry, majority of accounting functions are
completed mechanically. In this paper we have made an attempt to find out the revised
accounting cycle in computerised accounting system.
Key Words-Accounting, Cycle, Computerised Accounting
**************************************

ROLE OF SOCIAL ACCOUNTING IN NATION BUILDING: A STUDY OF SOCIAL

ACCOUNTING AND ITS IMPORTANCE
Prof. A.K. Gupta, Professor, Department of A.B.S.T., University of Rajasthan, Jaipur
Amit Kumar Sharma, Research Scholar, Department of Accountancy and Business Statistics,
University of Rajasthan, Jaipur
Abstract
Social accounting is concerned with the development of measurement system to monitor
social performance. Social accounting refers to the ordering, measuring and analysis of the
social and economic consequences of governmental and entrepreneurial behaviour. Social
accounting has grown, in almost few years, from a very marginal area of interest and practice
to a diverse and vibrant area of research, teaching and practice. In this paper we discuss what
social accounting is, why it is important for us, and what is the role of social accounting in
economic and social development .The paper provides a brief introduction to the growth in the
social accounting literature. This paper tries to explain social accounting, its goals and
assumptions, then, expressing social profitability in terms of money, and its contribution in
nation building. Social accounting is also known as tool of national income accounting, its a
medium to present statistically the inter-relationship between the different sectors of the
economy and helps to understand the real condition of the economy.
Keywords: Accounting Standard, Fixed assets, and Revaluation of Fixed Assets.
**************************************

A STUDY ON ROLE OF ACCOUNTING IN NATION BUILDING WITH RESPECT TO

SUSTAINABLE GROWTH AND DEVELOPMENT
Prof (Dr) Ashok kumar Rath, Professor in Finance, Regional college of Management,
Bhubaneswar.
Prof (Dr) Ullas Chandra Das, Lecturer in Commerce, Mohan Subudhi College, Baramba,
Cuttack
Abstract
Accounting plays a vital role in the development of a nation like India as well as other
developing countries. In the late nineteenth century, the earliest professional accounting bodies
were concerned mostly with the concept of insolvency, insurance, debt collection and book
keeping. Over the years, accountancy has expanded to cover costing and information systems,
fraud prevention, asset and business valuation, prospectuses and takeovers. Auditors and
financial analysts, help in value and supply chain management, portfolio investment analysis,
project appraisal, assurance to risk management, governance and internal control process through
high-quality corporate reporting with reference to the very objective of Sustainable Growth and
Development of a nation like India.
*************************************

ROLE OF ACCOUNTING STANDARD IN FIXED ASSETS MANAGEMENT

Prof. Arvind Kumar Dean & Professor, Department of Commerce, University of Lucknow,
Lucknow, U.P, India
Usman Ghani Research Scholar, Department of Commerce, University of Lucknow, Lucknow,
U.P, India
Abstract
Investment in fixed assets forms substantial part of overall deployment of capital in modern
enterprises. Fixed asset is used in business to earn income for the business. Under the present
circumstances proper valuation of fixed assets has assumed great importance on account of its
economic implication. Proper valuation of fixed assets is essential to present correct picture of
companys financial strength. Accounting standard plays a very important role in assets
management. Standard reduces to a reasonable extent or elimination altogether, confusing
variation in accounting treatment used to prepare financial statement. In this paper accounting
treatment of fixed asset is described in light of accounting standard.
Keywords: Accounting Standard, Fixed assets, and Revaluation of Fixed Assets.
**************************************

ROLE OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) IN A

GLOBALISED ECONOMY
Aneesh A.S. Assistant Professor, P.G. Department of Commerce, NSS College Nilamel, Kollam
District Kerala
Akhila M.K. Assistant Professor, S.N.G. College Chelannoor University of Calicut, Kozhikkode
Abstract
Accounting plays an essential role in economic development. High-quality corporate reporting is
key to improving transparency, facilitating the mobilization of domestic and international
investment, creating a sound investment environment and fostering investor confidence, thus
promoting financial stability. A strong and internationally comparable reporting system
facilitates international flows of financial resources while at the same time helping to reduce
corruption and mismanagement of resources. It also strengthens international competitiveness of
enterprises in attracting external financing and taking advantage of international market
opportunities. International Financial Reporting Standards (IFRS) are designed as a common
global language for business affairs so that company accounts are understandable and
comparable across international boundaries. This paper focus on role of the International
Accounting Standard Board(IASB) in setting up of the IFRS Foundation, its implementation in
many parts of the world, adoption of IFRS in India through different phases(In first phase
companies whether listed or not, having net worth of more than INR 1000 crore, phase two
include companies not covered in phase first and having net worth exceeding INR 500 crore, in
last phase listed companies not covered in the earlier phases) by the Institute of Chartered
Accountants of India (ICAI), and Reserve Bank of India. The paper also focuses on major
problems faced through IFRS implementation in India
Keywords: IFRS, IASB, ICAI, RBI, Economic Growth, International Accounting Standards
Board.

TECHNICAL SESSION-II
BEHAVIOURAL ACCOUNTING

Accounting is a science of measurement and communication. The contribution of accounting

profession is considered as a universal and social activity. It is recognized as a vital indicator of
economic development world over. Experts relate accounting as an aid to management, more so
a part of it, when it is supposed to play its dynamic and strategic role by processing accounting
information and their attitude toward managerial decision making. Instances have revealed
surprising changes in the behaviour of workers simply by evolving a new method (tailor-made
and innovative) of collection and allocation of costs. Therefore, if accounting claims for its
prestigious place in todays complex strategic management, it must come forward to respond to
Organisational Behaviour and Organisational Theory and so on and re-examine all its traditional
and modern concepts and methodologies practiced intensively, cognitively, theoretically and
empirically.
Behavioural Accounting is an offspring of Accounting and Behavioural Science. It is widely
recognized that behavioural accounting studies draw mainly from theories of psychology. It also
explores the cognitive processes adopted in decision making and the possible biases. Empirical
evidence suggests that behavioural research can help improve required information disclosures
and contribute to more effective regulation, which enhances the performance of markets and
improves individual outcomes. The purpose of this session is to investigate some specific issues
related to the behaviour of individuals involved in management accounting tasks such as
performance evaluation, cost prediction and adjustment, and decisions about strategic
investments.

IMPACT OF FDI ON GROWTH AND DEVELOPMENT OF INDIAN AUTOMOBILE

SECTOR SINCE 2005.
Dr. Saurabh Sharma, Assistant Professor, School of Business and Commerce, Manipal
University, Jaipur.
Abstract
Foreign Direct Investment, as a strategic element of funding, is required throughout India for
achieving the financial reforms and continuous the pace of development and progress of the
economy. The pace of FDI inflows in India at the start have been low as a result of regulatory
strategy framework and schemes but there is a strong upward push in investment flows since
2005 as the new policies have broadened. In this paper, we discover how FDI is noticeable as an
important economic catalyst of Indian monetary progress by stimulating domestic investment,
growing human capital formation and by means of facilitating the technology transfers. The
essential purpose of this paper is to investigate the effect of FDI on fiscal growth in India with
regard to the influence of Foreign Direct Investment in Indian stock market.
Keywords: Foreign Direct Investment, financial, economy, India.

**************************************

JOB SATISFACTION AMONG THE TRIBAL PROFESSORS: A CASE STUDY OF

GUJRAT STATE
Dr. Nilesh M. Marvaniya, Assistant Professor, SSP Jain Arts & Commerce College,
Dhrangadhra-District Surendranagar (Gujarat)
Dr. Bhavsinh M. Dodiya, Assistant Professor, Smt. J C Dhanak Arts & Commerce College,
Bagasara, District Amreli (Gujarat)
Abstract
Education is the most powerful weapon which you can use to change the world
Nelson Mandela
Education is very important for the developing nations for their survival in global competitive
environment. Education sector plays a vital role in underpinning the economic as well as social
development of a country. Teaching and job satisfaction go hand in hand. Tradionally, the
teaching job enjoyed a considerably high level of prestige and only dedicated and selected
individuals joined this profession. Job satisfaction has been a heavily researched topic in human
resource management for the past 60 years and continues to be highly important. Employee
satisfaction is the terminology used to describe whether employees are happy, contended and
fulfilling their desires and needs at work. Many measures support that employee satisfaction is a
factor in employee motivation, employee goal achievement and positive employee morale in the
work place. Basically employee satisfaction is a measure of how happy workers are with their

job and working environment. This research study was designed to assess job satisfaction of
tribal professors in Gujarat State. 150 tribal professors randomly selected for research. Survey
form with the set of 50 questions was used for the study. Respondents were mainly selected by
using random sampling method. The data was collected between January 2013 and March 2015.
The findings show that newly appointed professors in grant-in-aid colleges as an Adhyapak
Sahayak were not satisfied with their job, because of probation policy of state government.
Based on the findings of the research it was recommended that some existing polices be changed
and also finally suggest that it is required to replace some old policies in case of equity of justice
maintained in promotion and pay determination system. This research paper presents a
comprehensive diagnosis of job satisfaction indices of Indian education sector, the factors
causing the dissatisfaction and suggestions to improve them.
**************************************

IMPACT OF HUMAN RESOURCE ACCOUNTING ON STOCK PRICES (AN

INVESTORS PERCEPTION)
Dr. Sangeeta Gupta, Associate Professor, Department Of A.B.S.T., University Of Rajasthan,
Jaipur
Varun Narang, Research Scholar, Department Of A.B.S.T., University Of Rajasthan, Jaipur,
Abstract
Human beings are the most critical assets in any organization. Requirement of human asset is of
great need be it a manufacturing sector or service sector. In service sector skills of human asset
help in success or failure of any service related organization. Lack of capable skills and
knowledge would affect financial performance of the organization and that would be reflected in
stock prices of that particular organization. In this paper we gathered information from investors
how they perceive what will be the impact of human resource accounting on stock prices. Here
with the help of interview of various investors we tried to draw conclusions. This study is based
on primary data only. The results indicate that human resource accounting (HRA) information
disclosure in financial statements is relevant and affect optimal decision- making. Our study
concluded that human resource accounting will impact stock prices and different reasons are
reputation, trust, investor sentiments, change in financial performance, etc.
**************************************

A STUDY ON THE FACTORS INFLUENCING INVESTORS (WITH SPECIAL

REFERENCE TO GENDER) DECISION WHILE INVESTING IN EQUITY SHARES
Dr. Jeet Singh, Head, Department of Commerce, Mahamaya Government Degree College,
Sherkot, (Bijnor)
Abstract
This study investigates the factors that have influenced the investment decisions of a sample of
100 investors in Moradabad city of Uttar Pradesh. The advent and evolution of behavioural
finance has brought with it a revolution in the finance industry. Investors do not act rationally

while taking decisions relating to investment. They have certain weaknesses like cognitive and
emotional which play a predominant role in taking investment decision of individuals. They have
behavioural biases in the event of taking investment decision. They simply react to the
information available with them and accordingly react to the environment. Lot of consideration
are required before investing in the equity market. Liquidity ratios, profitability ratios, long term
solvency ratios are required to be considered. Technical and financial analysis of the company
along with the fundamental analysis of the economy is to be taken into account while investing
in the primary and secondary market. The present paper tries to find out the perception of male
and female investors regarding various considerations to be kept in mind while investing in the
equity market. The paper tries to study the attitude of male and female investors towards
different investment avenues. The researchers have selected 60 male investors and 40 female
investors from Moradabad city. The study uses independent t-test, mean scores to test the
hypothesis. The paper concludes that investors should as far as possible try to make fundamental,
technical and financial analysis before investing in the shares. Investors whether male or female,
should look in all avenues while investing their funds in different assets. Some investments are
risky and some are not, so as per the age of investors they should decide about risky or less risky
investments.
Keywords: Financial Ratios, Risk, Financial Products, Investment Alternatives, Financial
Planning
**************************************

FAIR VALUE MEASUREMENT: WILL IT BOOST BEHAVIOURAL ACCOUNTING?

Professor Sunil Kumar Gandhi, Head, Department of Commerce, University of Kalyani,
Nadia.
Abstract
Accounting is basically an information system for sound financial decision. Behavioural
accounting is concerned with involvement of human behaviour in preparation and presentation of
the accounting information (which affects both form and content of the information), and in
making decisions by the stakeholders. In other words it deals with how accounting affects and is
affected by individuals and organizations. Not only financial accounting, behavioural accounting
encompasses managerial accounting, auditing and taxation domain also.
Fair Value Measurement in its present form has given birth to numerous behavioural
applications. With the issue of FAS 157 by the FASB in 2006 (presently ASC 820), followed by
the issue of IFRS 13 by IASB and Ind. AS 113 by ASB, a full length standard has been
developed dealing with conceptual issues only. It has prescribed many assumptions including
treatment of hypothetical transactions, choice of approach, application of judgements in abstract
areas, etc. Behavioural applications will be manifested not only from the accountants but also
from the auditors and the tax authorities. This conceptual study explores the areas of behavioural
applications while adopting fair value measurement as per the standard.
Key words- Fair Value Measurement, Behavioural Accounting, Accounting Standards.

**************************************

BEHAVIOURAL ACCOUNTING PRACTICES IN INDIA

Ina Kansal, Research Scholar, P.G. Department of Commerce, MCM DAV College for Women,
Sector-36A, Chandigarh.
Abstract
Behavioural Accounting has very high significance not only for the organisation, but also for all
the stakeholders including government. It helps organisation in better utilization, planning
management of human resources in the organization while for stakeholders, it helps in making
the behavioural effects transparent to potential and current stakeholders. Even today, when a
huge importance has been given to it, it is very much unfortunate that there are still only few
organisations which are following Behavioural Accounting practices in India and making limited
disclosure of HR related information in their annual reports. The paper is proposed with the
objective of advancing scholarly research on Behavioural Accounting. The purpose of the paper
is to study the Behavioural Accounting in Indian enterprises. It highlights various enterprises
which are following the Behavioural Accounting practices in India as well as the various
Behavioural Accounting valuation models followed by these companies. It focuses on
Behavioural Accounting (BA) Practices of selected four companies and analyze the significance
of disclosure of Behavioural/HR related information made by these companies. The paper
derives necessary information from secondary data resources by undertaking extensive literature
review as relevant to the stated objective of the study. It was found that disclosure of such
information made by the selected companies made a significant difference. Hence, it is
concluded that Behavioural Accounting is important and beneficial but often neglected by the
companies. Thus, it is suggested that government should made it mandatory for all the
companies to follow Behavioural Accounting and disclose HR related information in their annual
reports.
**************************************

INVESTORS BEHAVIOUR TOWARDS EARNINGS ANNOUNCEMENTS: AN EVENT

STUDY IN INDIAN STOCK MARKET
Dr. Shilpa Lodha, (Guest Faculty)
Prof. G. Soral, (Dean), UCCMS, Mohanlal Sukhadia University, Udaipur
Abstract
Event Study is related to the study of speed of incorporating new announcement or information
into stock prices. This is related with testing of semi-strong form of efficiency of stock market. It
studies the behaviour of stock prices near an event which may have some impact on them. An
event may be merger & acquisition, earnings announcement, appointment of a new CEO, stock
splits, bonus issue, dividend announcement, IPOs, political events, sports events, weather etc.
These events may cause a change in investors mood which in turn causes changes in stock
prices.The study attempts to explore the existence of semi-strong form of efficiency in Indian
stock market. For this purpose, daily prices were collected for five sample companies viz.
Reliance, Tata Motors, ICICI, Infosys and ITC together with S&P CNX Nifty for a period of
three years 2012 to 2015. Earnings announcement dates were also collected for the sample
companies for 12 quarters in the study period. Estimation period consisted of 120 days before the

event day whereas event window was for 21 days (event day and 10 days before and after event
day). Market model was used to estimate expected returns, thereafter AAR and CAAR were
calculated. Significance testing showed that none of the t-statistic was significant. So it can be
concluded that Indian stock market is semi-strong efficient. The information regarding earnings
announcement is quickly absorbed by investors. They immediately react towards information
content of earnings announcement.
**************************************

RESEARCH INTO THE RITUALS IN ACCOUNTING AND OTHER BUSINESS

PRACTICES IN SMALL TRADING CONCERNS: A SURVEY OF KOLKATA CITY
AND ADJOINING AREAS
Kushal De, Assistant Professor of Commerce, Dhruba Chand Halder College, 24 Parganas (S),
West Bengal
Arindam Gupta, Professor of Commerce, Vidyasagar University, Midnapore, West Bengal
Abstract
The present paper attempts to examine the impact of Indian ethos and culture on the modern
small businesses and also examine how these traditions and practices shape up the conduct and
profit making (or, service) motive of the sole proprietorship business. The study is conducted in
the Jadavpur-Baghajatin area of southern part of the Kolkata city and Sonarpur-Rajpur
municipality in the district of South 24 Parganas and considers 80 shop establishments from the
electronic goods and jewellery segments. The tradition of halkhata, maintained through
centuries, is still a distinct feature of modern day traders and is followed religiously.
Barring 7.5% of the sample, the traditional books are maintained with equal dedication by new
age businesses (electronic shops) as well as traditional businesses (jewellery shops). The English
calendar, which dictates human life today, has failed to make any impact on this traditional
practice which, even today, is observed on the auspicious day of Akshay Trithiya (31.25% of the
sample) or on Pohela Boishakh (61.25% of the sample).
The local traders in Kolkata city and Sonarpur-Rajpur municipality, an adjoining area of the city,
although having been visibly influenced by modern trends and culture of the west like other parts
of the country, seem to believe in the traditions of the centuries. They have expressed a positive
impact of the same on the functioning and profitability of their establishments because of which
they too practise these rituals without much question. The opening of holy books of accounts on
an auspicious day with holy symbols inscribed in it is also believed to bring blessings and good
fortune for all forms of business. The businessmen also believe that practice of daily prayers and
worship of deities at their shops, use of symbols and inscriptions in such places of the shops are
essential for their personal well-being along with that of their employees, customers and the
society at large.
In conclusion, it can be said that religious beliefs and practices still occupy a prominent place in
small shop establishments even in modern times. The traders believe that pleasing their Gods in
traditional way is more important than any form of CSR activities for bringing good luck, fortune
and profitability of their concerns.
**************************************

A STUDY ON HUMAN RESOURCE ACCOUNTING PRACTICES AT BHARAT

HEAVY ELECTRICALS LIMITED: BANGALORE
Manjunath N, Research Scholar, Department of Commerce, Central College Campus,
Bangalore University, Bangalore
Ravi M. V. Research Scholar, Department of Commerce, Central College Campus, Bangalore
University, Bangalore
Naveen Kumar I M Assistant Professor, Department of Commerce, Vijaya College, Vijayapura,
Bangalore Rural Dist, Karnataka
A Balaji Assistant Professor, Department of Commerce, Vijaya College, Jayanagar 4 th Block
Bangalore, Karnataka
Abstract
Human Resource Accounting (HRA) involves accounting for expenditures related to human
resources as assets as opposed to traditional accounting which treats these costs as expenses that
reduce profit. Due to unique awareness and contributions HRA has made a destined growth in
number of countries. Measurement of the investment in human resources will help to evaluate
the changes in human resource investment over a period of time. Thus companies must learn to
recognize and appreciate the value of their employees. This article studies the concept of Lev and
Schwartz model of human resource valuation. The study depicts that how the model has been
applied at BHEL in the valuation of its human resource. BHEL is the pioneer to implement
concept of Human Resource Accounting during 1972-73. The net present value of the each
employee expenditure is shown in financial statements of the company. The company is in the
practice of showing its human resource in financial statements; it helps the company in taking
economic decisions and stakeholders in taking investment decisions.
Keywords: Human Resource Accounting, Valuation of Human Resource, Lev and Schwartz
model, Human Resource Practices.

**************************************

A STUDY ON EMERGENCE OF FORENSIC ACCOUNTING AS A TOOL FOR

DETECTION AND PREVENTION OF FRAUDS IN INDIA
Dr. M. Ramachandra Gowda, Professor Department of Commerce, Central College Campus,
Bangalore University, Bangalore
Manjunath N, Research Scholar, Department of Commerce, Central College Campus,
Bangalore University, Bangalore
Ravi M. V. Research Scholar, Department of Commerce, Central College Campus, Bangalore
University, Bangalore
Naveen Kumar I M Assistant Professor, Department of Commerce, Vijaya College, Vijayapura,
Bangalore Rural Dist, Karnataka

Abstract
Forensic accounting is gaining momentum in the present universal field, to detect the frauds and
manipulations of accounting and monetary transactions in the steady business transactions. It is a
skill based technique of discovering frauds when compared to traditional auditing and
investigation. It is helpful in detecting and preventing financial frauds and white collar crimes. In
India many companies are trying to promote forensic accounting as a separate tool to identify
and detect frauds and manipulations done in the companies or organizations in the day to day
business activities. The government of India has taken various steps in enacting forensic
accounting and the Chartered Accountants are playing key role in the development of forensic
accounting in India. It has been advised that appointment of forensic accountants should be made
compulsory in large scale organisations and in public sectors for the sustainable progress of the
economy. The present paper is focused on the major scams detected in India during 21st century,
the key role played by a forensic accountants in the detection of frauds.
Keywords: Forensic Accounting, Frauds, Financial Crimes, Auditing, Scams.

**************************************

IMPACT OF HUMAN RESOURCE ACCOUNTING ON FINANCIAL POSITION OF

MEDIUM SCALE ENTERPRISES
Dr. M. Muninarayanappa, Professor, Department of Commerce, Bangalore University,
Bangalore
Sridhar .V, Research Scholar, Department of Commerce, Bangalore University, Bangalore
Abstract
This study deals with the impact of human resource accounting on financial statement of medium
enterprises. The main objective of the study is to determine whether accounting for human
resources will influence the financial position of medium enterprise and to examine if the nonapplication of Human Resource Accounting measures affect future investment of medium
enterprises in human capital. The method of data collection used in this study is field survey
method which involved the use of questionnaire and interview. From analysis of the data
collected it was observed that accounting for human resource will improve the financial position
of medium enterprise, if applied. Equally, non-application of human resource accounting
measures was found to affect the future investment of medium enterprise. Also, it was concluded
that accounting system in medium enterprise is still based on an traditional method where only
fixed assets such as land, buildings, and motor vehicles are considered assets and no significant
importance is given to non-monetary asset, training expenses are least in the enterprises and, if
exist, they are treated as an expense which affects the profitability position of the firm.
Keywords: Investment, Medium Enterprise, Human Resource Accounting, Human Resource
Model, Human assets, Human Efficiency

**************************************

ETHICS IN ACCOUNTING CALL FOR INCLUSIVE DEVELOPMENT

Prasasthan M.K., Research Scholar, Kerala University Library University of Kerala,
Trivandrum
Dr. Jubily Navaprabha, Associate Professor, S.D. College, Sanatanapuram Alappuzha
University of Kerala
Abstract
In the fast evolving business environment around the world, finance and accounts play a major
and critical role. The financial statements that emerge from corporations are the major source for
any analyst in the market or for that matter public at large. Such an important source of
information has to be authentic and the obligation on ensuring the quality of such financial
statements rests on ethics of the finance, accounts and audit professionals. Ethics that is followed
in accounting helps developing individual, institutional and government capacities through
establishing quality financial institutions since all stakeholders of national development need
additional competencies for stronger and efficient collaboration. This paper takes a perspective
look at the ethical issues involved in accounting and finances that result in national development.
**************************************

HUMAN RESOURCE ACCOUNTING: METHODS AND PRACTICES

Suman Kannoujia, Research Scholar, Faculty of Commerce, Banaras Hindu University
Shahnaz Parveen, Research Scholar. Faculty of Commerce, Banaras Hindu University
Abstract
Human resource accounting has very high significance not only for the management, but also for
analyst and even for employees. It helps management in better utilization, planning and
management of human resources in the organization. Even today, when a good deal of work has
been done in this field, it is very much unfortunate that there is not a single set pattern or
generally accepted method either for valuation of human resource or for their recording in books
of accounts or for the disclosure of information by means of different statements. No machine
can ever come up with a unique advertising idea without the human input. Thus companies must
learn to recognize and appreciate the value of their employee, its worth and treat it as capital
investment. That is why firms also need to search good people along with capital (money). While
many entrepreneurs are focused on securing capital they have to make sure they have the right
management team and employer in place if they want to attract investors create value and
maximize wealth. Solid management team in what sets a company apart from venture capitalists.
The study highlights the significance of human resource valuation and methods to measures
human assets value.
Keywords:
Investment.

Human

Resources

Accounting,

Human

Resource

Valuation,

**************************************

Cost,

Model,

BSES SUSTAINABILITY INDICES: THEORETICAL FRAMEWORK AND

BEHAVIOURAL REVIEW
Dr. Vijay Singh Hooda, Assistant Professor, Department of Commerce, Indira Gandhi
University, Meerpur, Rewari, Haryana
Abstract
Stock indices are barometers of overall behaviour of national economic health and performance
and they also reveal potential of listed companies. BSE Ltd. has launched two unique indices- S
& P BSE Greenex and S & P BSE Carbonex as sustainability indices in 2012. This study mainly
is meant for providing conceptual and behavioural framework of these indices during the study
period i.e. from January 2013 to August 2015 and simple statistical techniques along with
graphical representation are applied. It is found that both sustainability indices have shown good
growth with same level of fluctuations. Both indices observed their respective lowest index
values in August, 2013 while highest in February, 2015. There has been strong positive
association between the directions of indices and it is mainly found that on an average, one
percent growth rate has been during the reference tenure and the study further reveals that there
is no significant difference in mean values of growth rate of Carbonex and Greenex.

**************************************

IMPACT OF BEHAVIOURAL ACCOUNTING IN CORPORATE SECTOR IN INDIA

Dr. Krishna Kant Upadhyay, Department of Commerce, Govt. M.J.S.P.G. College, Bhind
(M.P)
Ashish Gupta, Senior Teacher, Department of Commerce, Govt. Excellence H.S. School, Bhind
(M.P)
Abstract

Behavioral accounting research (BAR) is richer today in the topics covered, the methods used,
and the range of sub-areas of accounting in which it is performed. This paper aims framework
within which BAR literature can be viewed as a whole rather than in segments, such as by
accounting sub-areas or by research method .The framework classifies BAR by the focus of the
research. The purpose of the framework is to help researchers in BAR to appreciate the insights
to their research questions that can be found in BAR using another research method or studying a
similar issue in another sub-area of accounting. Existing research in each of these four areas is
discussed to illustrate the usefulness of the framework. This paper indicates broadening of the
scope of corporate accountability to encompass issues and concepts found in an increasingly
complex business environment. These changes could be argued to be the result of a more
expansive and justifiable interpretation of our basic and long held view of corporate
accountability.

**************************************

BEHAVIOURAL ACCOUNTING & FINANCE

Mr. Rameshbhai, HOD- Commerce Faculty, Institute with address: M.M.Ghodasara Mahila
College, Junagadh. (SAURASHTRA UNIVERSITY-RAJKOT)
T. Vachhani, M.M.Ghodasara Mahila College, Junagadh
Abstract
The profit made, or losses incurred by an investor can be attributed mainly to his decisionmaking abilities. The aim of this paper is to establish the existence of such fundamental issues,
driven by various psychological biases, in the investment decision-making process. Behavioural
finance is the study of the influence of psychology on the behaviour of financial practitioners and
the subsequent effect on markets.
Specifically this research is aiming to highlight: what behavioural finance offers for investment
decision making, how and why is behavioural finance an area of controversy in financial
decision making, what is the projected future for the field of behavioural finance keeping in view
the value of contributions that the research is making and how can researchers and financial
theorists work to enhance the value of their contributions in the field of behavioural finance.
Investors may be inclined toward various types of behavioural biases, which lead them to make
cognitive errors. Individuals who are over-confident about their level of knowledge tend to think
that know more than they actually do. Over-confidence does not necessarily mean that
individuals are ignorant or incompetent.
Young investors seemed to give most importance to opinions of either friends/brokers. The
survey, it was clear that younger investors mainly prefer online trading rather than trading at the
brokerage, which is preferred by the more experienced traders. In the words of Warren Buffet,
It is only when you combine sound intellect with emotional discipline that you get rational
behavior.
**************************************

BEHAVIOURAL ACCOUNTING, FINANCE AND MENTAL ACCOUNTING

Sapna Agarwal
Abstract
The two areas Behavioural Accounting and Behavioural Finance are intertwined because
both are concerned with financial information and the behaviour of its stakeholders. This is
important because the information, which financial market participants are using to make their
decisions, is not coming from anywhere, instead, accountants are preparing such information in
the form of annual reports and other financial data. If accounting information is a requirement for
making financial decisions, behavioural insights about how accountants prepare such
information are needed. Behavioural accounting is concerned with the relationship between the
accounting information system and human behaviour.

**************************************

THE EFFECTIVENESS OF BEHAVIOURAL ACCOUNTING

Dr. A.K.Mandil, Professor of Commerce, MLB Govt. College of Excellence, Gwalior (M.P)
Sheetal Jain, Sheetal Jain, Research Scholar, School of studies in Management, Jiwaji
University, City centre Road, Gwalior M.P.
Abstract
Behavioural accounting is common area of study in business research because of the important
and difficulty associated with assigning value to the human aspects of a company. Such research
is often multidisciplinary in nature. Research in behavioural accounting may try to develop
effective and useful method to measure the value of a businessman to a business by overtime by
taking into consideration each major decision he makes.
Behavioural accounting was developed to make the behavioural effects transparent to potential
and current stakeholders. This is done to better understand the impact that business process
opinion and human variable have on the value of the overall corporation now and in the future.
Behavioural accounting involve judgment and decision making. Judgment and decision making
are an integral part of both accounting and auditing not to mention everyday managerial process.
Key words-Human behaviour, Business research, Accounting
**************************************

A STUDY OF CONCEPT OF ACCOUNTING, FINANCE AND COST BEHAVIOUR

TECHNIQUES
Mr Ram Gopal Meena, Assistant Professor Research Scholar, Department of Commerce
Pacific University, Swami Shraddanand College, Udaipur, Rajasthan
Mr. Dharam Veer, Assistant Professor Research Scholar, Department of Commerce Pacific
University, Swami Shraddanand College, Udaipur, Rajasthan
Abstract
We are a team of academics who believe that there is more about accounting and finance than
just techniques and numbers. Behavioural research in accounting and finance challenges the
concept of economic man. This concept transforms humans into economic subjects who,
similar like robots, will rationally weight advantage against disadvantage and rigidly pursue their
own interests. This paper denotes the study of accounting and finance based on assumptions
about how people behave.
It is high time that we move away from narrow approaches such as the economic man and
develop new frameworks in accounting and finance, which focus on people and their behavior.
The world is becoming more complex and simple answers are not suitable anymore.
Keywords: Behaviour, Accounting Behaviour, Finance Behaviour, Cost Behaviour, Mental,
Accounting and Techniques of Behaviour Accounting.
**************************************

BEHAVIOURAL CORPORATE FINANCE VS. TRADITIONAL CORPORATE

FINANCE
Ritika Maurya, Research Scholar, Faculty of Commerce, Banaras Hindu University
Monika Research Scholar, Faculty of Commerce, Banaras Hindu University
Ehsan Ahmad Siddique, Research Scholar, Faculty of Commerce, Banaras Hindu University
Abstract
Behavioral corporate finance is a young discipline that picks up where the traditional finance
gives up. It has strong implication on the corporate finance as all the market participants are
affecting the corporate finance and face decision-making problems related with investments.
Combining the psychological theories with the conventional economic and finance theories
behavioural finance explain the economic decisions. Thus this paper attempts to explain how
behavioural corporate finance is different from the traditional corporate finance and how their
coalition becomes necessary for corporate decision-making.
Key words: Behavior finance, Traditional finance,
hypothesis, Modern portfolio theory.

Corporate finance,

**************************************

Efficient market

TECHNICAL SESSION-III
INTEGRATING REPORTING

Over the last 40 years, financial disclosures of the companies evolved and acquired colossal
details to meet the demands of the regulators and the investors, yet the shortfall remains,
especially in the reporting of the strategy, risks and future performance. Also, the non-financial
information like corporate disclosures of environmental, social and governance aspects often
disclosed in diverse ways and are not easily comprehensible and comparable between different
organizations and regions. Integrated reporting, as proposed by the International Integrated
Reporting Council (IIRC), is the direction for the future of corporate reporting by providing a
holistic and long-term view of an organizations performance.
Integrated reporting is a novel concept that has been coming in different articles and a lot of
contemporary research is focused on the same. It is a new standard for corporate communication,
and helps to complete financial and sustainability reports. The concept of an integrated report is
to explain to providers of financial capital as to how an organisation creates value over time. An
integrated report benefits all stakeholders interested in a companys ability to create value,
including employees, customers, suppliers, business partners, local communities, legislators,
regulators and policymakers, although it is not directly aimed at all stakeholders. The central
theme of Integrating Reporting is that in todays world, value is increasingly shaped by factors
such as reliance on the environment, social reputation, human capital skills and others. This
value creation concept is the backbone of integrated reporting and, may be the direction of the
future of corporate reporting.

ACHIEVING SUSTAINABILITY INTEGRATED REPORTING: CHALLENGES AND

OPPORTUNITIES

Dr. Hemant Kumar Dubey, Department of Commerce, Govt. M.J.S. PG College, Bhind (M.P.)

Abstract
Integrated Reporting brings together material information about an organizations strategy, governance,
performance and prospects in a way that reflects the commercial, social and environmental context within
which it operates. It provides a clear and concise representation of how an organization demonstrates
stewardship and how it creates and sustains value. In other words, Integrated Reporting refers to the
integrated presentation of a companys performance in terms or both financial and non-financial result.
Integrated reporting provides greater context for performance data, clarifies how sustainability fits into
operations of a business, and may help embed sustainability into company decision making. Some
companies that report in an integrated manner also report additional sustainability information, often
online, for specific stakeholder groups.
Keywords: Integrated Reporting
**************************************
INTEGRATED REPORTING PRACTICES IN INDIA A GLOBAL COMPARATIVE STUDY

Dr. Indrakanti Sekhar, Department of Commerce, Osmania University, Hyderabad, Telangana.

Abstract
The Integrated reporting (IR) is a new standard for corporate communication, and helps to
complete financial and sustainability reports. Integrated reporting is a new approach to corporate
reporting which is rapidly gaining international recognition. IR is founded on integrated thinking,
which helps demonstrate interconnectivity of strategy, strategic objectives, performance, risk and
incentives and helps to identify sources of value creation2. In this context, the study is
undertaken to identify the major differences between Indian Integrated reporting with world
integrated reporting practices. The study is based on Secondary data and adding to its primary
data with interview method are analyzed with the help of averages and percentages and paired t
test for testing hypothesis that there is no significant difference in the amount to be spent on
Indian IR and world IR practices.
**************************************

A STUDY OF E-ACCOUNTING

Mr. Parmanand Barodiya, Research Scholar, Dept. of Commerce, Madhav Mahavidyalaya,

Gwalior (MP).
Dr. Seema Thakur, Assistant Professor, Govt. College Barela Jabalpur (MP).
Dr. Abdesh Singh Kushwah, Assistant. Professor, Preston College, Gwlior (MP).
Abstract
The accounting act of 1997 and further guidelines issued by the accounting board in 2000
provide an institutional setting for the use of electronic data media in financial accounting for
registering, transferring and storing data as well as reporting information electronically. At
present due to globalization and competition there is constant growth in use of information and
communication technology in business to support the exchange of data information within and
between organizations. New technologies have provided new business opportunities and
operations. E-accounting is new development in field of accounting. In e-accounting, source
documents and accounting record exist in digital form instead of on paper. E-accounting helps
businesses keep their financial data and accounting software in a safe, secure environment.
Therefore this paper provides a brief outline impact of E-accounting, feature of E-accounting,
benefits & problems of E-accounting have been discussed.
Keywords: E-accounting, feature of E-accounting, benefits & problems.
**************************************

INTEGRATED REPORTING: A CASE STUDY OF TATA STEEL COMPANY LIMITED

Ms. Rashmi Goel, Research Scholar, Department of Commerce and Business Studies, Jamia Millia
Islamia, New Delhi.
Prof. A. Aziz Ansari, Professor, Department of Commerce and Business Studies, Jamia Millia Islamia,
New Delhi.
Abstract

The global financial crises of the year 2008 have shaken the confidence of stakeholders and the
companies are under pressure to disclose both the financial and sustainability information. The
International Integrated Reporting Council (IIRC) has developed the International Integrated
Reporting Framework (IIRF) that requires the companies to disclose in an integrated report the
information in the context of their external environment on how their strategy, governance,
performance and prospects lead to value creation over time. It is in this context, the present paper
seeks to discuss the conceptual framework of integrated reporting. It also makes an attempt to
identify the integrated reporting disclosures of Tata Steel Company Limited. Moreover, it also
provides suggestions for implementation of integrated reporting in India. It is found that
although, the Indian companies are not preparing integrated reports, yet they are making

significant disclosures in their annual reports in various sections which can be integrated to
prepare an integrated report. The study of annual report of Tata Steel Company Limited, the first
Indian company implementing integrated reporting reveals that it has been able to prepare a good
integrated report including the disclosures on content elements of organizational overview and
external environment, governance, business model, risk and opportunities, strategy and resource
allocation, performance and outlook. It is suggested that for implementation of integrated
reporting in India the appropriate authorities should create awareness on integrated reporting and
develop a suitable framework of integrated reporting. The companies should make an integrated
reporting committee which is responsible for preparation and presentation of integrated report
representing the true and fair view of the business. Moreover, the companies can use the case
study of Tata Steel Company Limited to understand and implement integrated reporting.

Keywords: Integrated Reporting, Value Creation, Content Elements, International Integrated

Reporting Council, International Integrated Reporting Framework.

**************************************

DISCLOSURE PATTERN OF SIX CAPITALS UNDER IR FRAMEWORK:

SELECTED SOUTH AFRICANS COMPANIES
Monika Soni, Senior Research Fellow, Department of Accountancy and Statistics, Mohan Lal
Sukhadia University, Udaipur
Dr. Shurveer S. Bhanawat, Head, Department of Accountancy and Statistics, Mohan Lal
Sukhadia University, Udaipur

Abstract

Globalization, regulation and increased stakeholder expectations have added significantly to the
complexity of businesses in all major economies. Accordingly, over the last decades, the
information used to manage businesses and support stakeholders decisions has become similarly
complex. A balance sheet could provide true insight into a company's response to a sudden
collapse in demand for its products, as well as how it is using the difficult times to become more
cost-efficient and build new capacity for better days, provided the management is open to this.
The financials and other tangibles are easily accountable. But what are the best ways for a
company to account for the use of human and natural resources, intellectual capital and its
dealing with the market and competition? Integrated reporting seeks to align relevant information
about an organizations strategy, governance systems, and performance and future prospects in a
way that reflects the economic, environmental and social environment within which it operates.
However, a lack of clarity on what integrated reporting is really about, coupled with a limited

number of best practice examples, makes it difficult for organizations to understand what needs
to be in place for the journey towards integrated reporting. This paper specifically highlights
about the reporting of six identified capital (Financials, Manufactured, Human, Intellectual,
Social and Relations, Natural) and its integration in business for value creation. Through content
analysis, top 10 recognized integrated report of South Africa (as per Ernst and Young
Survey,2015) from different sector has been studied and results shows that there is huge disparity
in disclosure and reporting of capital among top 10 companies, moreover it is practically difficult
to measure Intellectual, Natural, social and relation capital. Key performance indicators have
been identified through analysis of integrated reporting and attempt is made to study how value
of the organizations is created through these capitals.
Keyword: Integrated Reporting, Capital, key performance indicators, value creation.

**************************************
INTEGRATED REPORTING FRAMEWORK AND INDIA: SOME ISSUES

Prabir Kumar Mohapatra, Research Scholar, P. G. Dept. of Commerce, Utkal University,

Bhubaneswar.
Dr. Sabat Kumar Digal Lecturer, P. G. Dept. of Commerce, Utkal University, Bhubaneswar.
Dr. Prabodha Kumar Hota, Reader, P. G. Dept. of Commerce, Utkal University,
Bhubaneswar.
Abstract
The global financial crisis and its negative impact on the economy has emerged a corporate
reporting transparency. It can only be achieved by Integrated Reporting, where both financial
and non-financial information including sustainability reporting interrelated. In Integrated
reporting, the corporate responsibility or environmental reports were integrated with the annual
financial report, which creates a mark towards commitment to the environment, social
recognition, and a more efficient management system as compared to traditional one, where
these are separately presented. The International Integrated Reporting Committee (IIRC) has
submitted its first document on integrated reports in 2011.

The problem statement of this paper involves the determination of the framework of integrated
reporting for an organization and reporting practices exist in Indian context.
Keywords: Integrated Reporting, Sustainability Report, IR Framework, IR Lab.

**************************************

INTEGRATED REPORTING IN INDIA: AN ANALYSIS OF SELECT COMPANIES

Dr. (Mrs.) Prashanta Athma, Professor & Vice-Principal, Osmania University College for
Women, Hyderabad, Telangana
Mrs. N. Rajyalaxmi, Lecturer in Commerce, Department of Commerce, Osmania University
College for Women, Hyderabad, Telangana
Abstract
Sustainability Information is provided by the most of the Companies in their Annual Reports as a
proof of reliable disclosure, accompanied by Sustainability Reports on their websites, reflecting a
growing maturity on CSR disclosures. The Integrated Report is intended to demonstrate the
integration of financial performance with other aspects of organizational performance towards
reaching organizations vision.
The Objectives of this paper are to bring out the differences between Financial Reporting and
Integrated Reporting; compare the Integrated Reporting practices of Metair Investments Limited,
a South African Company with Kirloskar Brothers Ltd., an Indian Company; and to analyze the
Integrated Reporting Practices of BSE 30 Companies, both item-wise and company-wise.
Disclosure practices of the Companies are analyzed with the help of an Index of Disclosure.
Mean Disclosure, Standard Deviation and Coefficient of Variation are employed to analyze itemwise and company-wise disclosure of the various aspects of Integrated Reporting. In South
African Countries, it is mandatory to follow Integrated Reporting as per IIRC recommendations
and South African Integrated Reporting Committee. Hence, all six capitals and other aspects are
being presented under Integrated Reporting. Kirloskar Brothers Ltd., an
Indian Company is also following the same recommendations of IIRC and thus disclosing the
required information though not mandatory in India.
Overall, it may be stated that with regard to mandatory items, all the BSE 30 Companies are
reporting the information, whereas there is a variation in the disclosure of voluntary information.

Keywords: Integrated Reporting, Index of Disclosure, Six Capitals, Mean Disclosure.

**************************************
INTEGRATED REPORTING DISCLOSURE PRACTICES IN INDIA: A
COMPARATIVE STUDY OF STANDARD BANK OF SOUTH AFRICA, TATA STEEL
LTD. AND KIRLOSKAR BROTHERS
Prof. Pramod Kumar, Head & Dean, Dayalbagh Educational Institute, Agra.
Miss Shikha Gupta, Research Scholar, Dayalbagh Educational Institute, Agra.

Abstract
Integrated Reporting is a new phenomenon in the financial reporting arena. Integrated Reporting
clearly demonstrates the organizations performance, strategy and governance and how
organization creates value over time. Integrated Reporting helps to give all the relevant
information in a concise way which is very useful for stakeholders. Integrated Reporting
framework was released by The International Integrated Reporting Council (IIRC) in 2013. IIRC
aimed to develop Integrated Reporting all over the world, for this purpose IIRC has setup
Integrated Reporting lab in India. CFOs of some leading companies are part of Indian Integrated
Reporting Lab. This Lab is chaired by Koushik Chatterjee, CFO of Tata Steel. Integrated
Reporting Lab guides and facilitates the Indian companies to develop Integrated Reports. The
main focus of this research is to study the Integrated Reporting disclosure practices of Standard
Bank of South Africa, Tata Steel Ltd. and Kirloskar Brothers and to compare the performance of
selected companies towards Integrated Reporting. For the purpose of analysis ANOVA has been
used. The researchers have also collected the views of Accounting Professionals towards
Integrated Reporting.
Keywords: Integrated Reporting,
Reporting Lab and ANOVA.

International

Integrated

Reporting

Council,

Integrated

**************************************
A STUDY ON TRACING INTEGRATED REPORTING PRACTICES IN TOP 30 BSE
COMPANIES
Prof. V.Usha Kiran, Department of Commerce, Osmania University, Hyderabad.
Ms. M.V. Karunasri, Assistant Professor, Department of Commerce, Osmania University
College for Women, Koti, Hyderabad.
Abstract
The International Integrated Reporting Council (IIRC) has developed a framework for the
integrated reporting, which combines the different aspects of reporting like finance, management
analysis, governance and sustainability of an organization. An effective integrated report reflects
an appreciation with regard to the organizations ability to create and sustain value based on
financial, social, economic and environmental systems and by the quality of its relationships with
its stakeholders. In India too, companies are gradually changing their reporting practices to bring
more inputs to the stakeholders. They are combining quantitative information with qualitative
information to justify their sustainability and value creation to society.
This paper makes an attempt to examine the extent of integration of financial data with nonfinancial data in the top 30 companies of the Bombay Stock Exchange (BSE). It is observed that
many companies adopted a system of reporting on sustainability, governance, social and
environmental concerns in separated sections along with financial reporting. They also
mandatorily give information about auditors comments, chairmans report and directors report
and thereby giving a scope to combine quantitative and qualitative information. The scope of
information in reporting is as per IIRC intended framework, but the style of reporting does not

exactly fit into the framework of IIRC. With a change in the orientation of reporting, these
companies can fit themselves into integrated reporting.

**************************************
INTEGRATED REPORTING: STAKEHOLDERS VALUE CREATION
Dr. Jayesh .K. Pandya, Assistant Professor [Stage III], Department of Accounting and Finance,
Faculty of Commerce, The M.S. University of Baroda, Vadodara, Gujarat.
Dr. Ketan R. Upadhyay, Associate Professor, Department of Accounting and Finance, Faculty
of Commerce, The M.S.University of Baroda, Vadodara, Gujarat.
Abstract
In the age of globalization, increased mutual dependency amongst the nations, advances in
information and technology, population growth and mounting worldwide consumption, the world
scenario has changed. In such situation the corporate houses all over the world including India
have developed new business models and strategies to do business and remain successful so as to
create value for the stakeholders. Today, an organization operates keeping in mind the society
and economy as a whole by means of sustainable strategy. It believes in concept of inclusive
growth. Keeping the pace with the changing situations, the traditional pattern of corporate
reporting has also undergone a substantial change. The information provided now by the
business houses is more of stakeholders oriented rather than shareholders. Today the nonfinancial data along with the financial information is also reported. The corporate houses have
adopted a pattern of reporting which is known as Integrated Reporting. They report in line with
the standardized framework provided by GRI (Global Reporting Initiative) and in accordance
with the thinking of IIRC (International Integrated Reporting Council). Thus the paper attempts
to provide the conceptual clarity of Integrated Reporting and to analyse how the value created for
stakeholders has been reported by the companies at Global and National level using the
integrated reporting principles. The study reveals that IIRC has provided the guiding principles
and contents elements of integrated report which help the stakeholders to know in- depth the
value created by the company. Though the benefits of integrated reporting are largely
understood, the acceptability of the concept is yet delayed and the percentage of the companies
who have started integrated reporting practices is very less.

**************************************
INTEGRATED REPORTING: CHALLENGES AND PERSPECTIVES IN PUBLIC
SECTOR
Prof. C. K. Sonara, Professor, Department of Business Studies, Sardar Patel University,
Vallabh Vidyanagar, Gujarat.
Dr. Dhaval Sharma, Department of Business Studies, Sardar Patel University, Vallabh
Vidyanagar, Gujarat.

Abstract
Integrated Reporting introduces a business approach to reporting in the public sector that fully
embraces stakeholder inclusivity and the critical need for financial, economic, environmental,
social and governance sustainability. "Integrated reporting" is the term increasingly used to
describe the alignment of business reporting with sustainability performance and business value.
The premise is that corporate responsibility activities should not be conducted in isolation from
the rest of the business. Environmental, social and governance issues are having an increasing
impact on companies' ability to operate with long-term viability and generate a profit. The
specific issues with the most potential to influence business value - positively or negatively
depend on the industry sector, the geographic scope and the nature of the individual business.
Investors, shareholders and other stakeholders have more interest in understanding how these
issues are linked to strategy and the future value of the business.

**************************************
INTEGRATED REPORTING: AN EMPIRICAL ANALYSIS OF INDIAN CORPORATE
SECTOR
Mr. Azhar Ahmed Sheikh, Junior Research Fellow, Department of Accountancy and Statistics,
Mohanlal Sukhadia University, Udaipur
Mr. Prashant Singh, Senior Research Fellow, Department of Accountancy and Statistics,
Mohanlal Sukhadia University, Udaipur
Prof. G. Soral, Dean, University College of Commerce and Management Studies, Mohanlal
Sukhadia University, Udaipur
Abstract
The liberalization of international trade, continuous development of multinationals and growing
interest of stakeholders have increased demand for more complex information reflecting
economic, social and environmental issues along with financial information. So the worlds
organization came forward and made joint efforts to develop a globally accepted framework for
integrated reporting, which ensures the integration of financial as well as non-financial
information in a single report. The objective of our study is to familiarize with the term
integrated reporting and to empirically analyze the level of integration in the annual report of
Indian corporate sector. For the purpose of study we selected 15 companies from different sector,
which have high environmental effects. Then we identified the type of correlation between
financial and non-financial information presented in the annual report and finally analyzed the
level of integration in the report. The paper concludes with that, though Indian corporations are
presenting the social and environmental information, but the adoption of integrated reporting at
infancy stage.

**************************************

INTEGRATED REPORTING USING FRAMEWORK

Prof. (Dr.) Baldev M. Patel, Principal, M.C.Shah Commerce College Navgujarat Campus,
Ahmedabad
Abstract
In December 2013 the International Integrated Reporting Council published the International
Integrated Reporting Framework. This framework has set the new reporting standard across the
world.
The overriding question remains whether the Integrated Report explains how the organization
has in the past and plans to create and sustain value into the short, medium and longer term.
The framework includes guiding principles and content elements, all of which need to be
appropriately addressed in order to call a report an Integrated Report.
Paper focuses on Integrated Report and is drafted in a question and answer manner to allow for
ease of reference.

**************************************

IMPACT OF R&D EXPENDITURE ON VOLUNTARY DISCLOSURE OF R&D

ACTIVITIES A CASE STUDY OF TOP INDIAN COMPANIES

Dr. Ragini Kalotra, Assistant Professor, Smt. A. A. A. Government Post-Graduate College,

Kalka, Panchkula, Haryana.
Dr. Anuradha, Assistant Professor, Smt. A. A. A. Government Post-Graduate College, Kalka,
Panchkula, Haryana.
Abstract
Research and Development plays an important role in todays competitive world. In order to
have innovations, companies are investing a lot of amount in the research and development. The
companies are able to earn profit only if it comes with new and innovative products in the
market. In this paper, we examined the annual reports of top 50 Indian companies listed by S&P
BSE SENSEX on the basis of market capitalization, as on 24 Nov. 2014. The study aims to
investigate the association between the R&D expenditure and voluntary disclosure on research
and development of the sample companies. The results of our investigation show a significant
association between the voluntary disclosure on R&D activities and R&D expenditure. Further, it
is evident from the investigation that there is significant disclosure on the R&D activities by the
R&D intensive companies.

**************************************

INTEGRATED REPORTING - AN OVERVIEW

Nima Chandran, Junior Research Fellow, Department Of Commerce, School Of Business
Management & Legal Studies, University Of Kerala, Thiruvananthapuram, Kerala.
Dr. C. Ganesh, Professor, Department of Commerce, School of Business Management and
Legal Studies, University of Kerala, Thiruvananthapuram, Kerala.
Abstract
The objective of this paper is to present the new corporate reporting trends of the 21st century.
Integrated reporting has been launched through a common initiative of the International
Integrated Reporting Committee and global accounting organizations. However, the history of
integrated reports starts before the initiative of the IIRC, and goes back in time when large
corporations begun to disclose sustainability and corporate social responsibility information.
Further on, we claim that the initial sustainability and CSR reports that were issued separately
along with the financial annual report represent the predecessors of the current integrated reports.
We consider the current investigation as relevant for future studies concerning integrated reports,
as this is a new area of research, still in its infancy. The paper derives from the novelty of
integrated reporting, and the aim of this paper is to explain its origin, which is important to know
if we want to understand the present and the future of corporate reporting. Integrated reporting
(IR) is a major development in a number of sustainability-related accounting initiatives and, if
widely adopted, will require significant developments in professional and university accounting
curricula.
**************************************

FOSTERING INTEGRATED REPORTING IN CORPORATE SECTOR

Dr. (Mrs.) N. V. Kavitha, HOD, Commerce Department, St. Anns College for Women,
Santhosh Nagar, Mehdipatnam, Hyderabad
Mrs. N. Suma Reddy, Lecturer, Commerce Department, St. Anns College for Women, Santosh
Nagar, Mehdipatnam, Hyderabad
Abstract
Economic crisis was a swift indication that financial reporting alone cannot endow with adequate
insight into corporate performance and resilience. Investors and other stakeholders are looking
for a more holistic picture of how corporates generate value and of the external drivers that
impact their business model now and in long term. In this context International Integrated
Reporting Councils (IIRC) Framework issued in December 2013 facilitates corporates a
beginning for driving integrated thinking and reporting in an integrated way. In response to
investors and other stakeholder challenges corporates initiated for Integrated approach to their
internal and external reporting to witness the internal benefits of new way of Integrated
Thinking. A current survey of 1300 global CEOs showed 74% of CEOs think that measuring
and reporting total non-financial impacts contributes to long term success. Integrated Reporting
(IR) provides a holistic method for explaining how the corporate is doing, and how the
management team thinks it will do in the future... It takes into account the connectivity and
interdependencies between the range of factors that have a material effect on an corporates
ability to create value over time. by Bob Laux, Senior Director of Financial Accounting and

Reporting at Microsoft Corporation. By companies like PepsiCo, American Electric Power and
Southwest Airlines have published what were conventionally treated as separate reports as a
combined entity. This blend of the ESG concerns with financial ones is often known as the
integrated report This research paper makes an endeavor to understand the rationale of IR,
diverse benefits, and various steps in preparing integrated reports. Corporates entails progression
in the structure for reporting, facilitating and communicating mega-trends without the
complexity and shortfall of current reporting requirements. Currently, there are significant
information gaps in reports, with the organizations such as the World Bank and IMF calling for a
greater focus on risk and future development. Therefore,fostering integrated reporting is the only
answer for Indian corporate sector in meeting the worlds two great challenges Financial
Stability and Sustainability.
**************************************

INTEGRATED REPORTING: EVOLUTION AND CURRENT SCENARIO

Dr. Geetika T Kapoor, Assistant Professor, Department of Commerce, University of Lucknow.
Laxmi, Research Scholar, Department of Commerce, University of Lucknow
Abstract
In the last few years, organizations have shifted their aim from wealth creation to value creation.
Integrated reporting is one of the way by which the organizations can create value for themselves
in the long term. It is a concise communication about an organizations strategy, governance,
performance and prospects that leads to the creation of value over the short, medium and long
term for the organization. Organizations are using Integrated Reporting to communicate a clear,
concise, integrated story that explains how all of their resources are creating value. It
demonstrates the links between its financial performance and its wider social, environmental and
economic context. Reporting about governance, corporate and social responsibility, sustainability
and other matters has also developed. Integrated Reporting seeks to stand back and literally
integrate the volume of information that organizations publish in their annual report. The
approach is strategic, and focuses on value creation. Integrated reporting provides greater context
for performance data, clarifies how value relevant information fits into operations of a business,
and may help in companys decision making in the long term. The communications that result
from Integrated Reporting will be of benefit to a range of stakeholders, to take financial capital
allocation decision. Integrated Reporting is enhancing the way organizations think, plan and
report the story of their business. Integrated reporting is actively helping them to become a better
and more accountable organization. The paper looks into the evolution and growth of integrated
reporting, its importance in value creation and sustainability and the aspects of Integrated
Reporting Framework.

**************************************

CORPORATE REPORTING FOR INTEGRATED PERFORMANCE

Prof.Suresh Kumar A.Thakkar, Kankrej Arts & Commerce College, Thara, District
Banaskantha, Gujarat.
Prof.Devendrasinh D.Zala, Kankrej Arts & Commerce College, Thara, District Banaskantha,
Gujarat.
Prof.Nayna L.Thakkar, Kankrej Arts & Commerce College, Thara, District Banaskantha,
Gujarat.
Abstract
The state of corporate ESG disclosure is multifaceted, with on the one hand a growing
homogenization via the widespread use of GRI guidelines, and on the other corporate reports that
are difficult to compare, provide ever growing information), and are not always satisfactory as to
the quality of information provided. The mandating of financial reporting and the creation of
accounting standards was probably the single most important driver of the development of
capital markets. Such reporting is being improved constantly to keep up with innovations in
financial markets and ensure adequate transparency. Reporting could see important evolutions in
ESG disclosure in the coming years. There are pressures from a range of stakeholders to extend
ESG disclosure to companies that so far do not wish to report on their impacts on society and the
environment. The EU is about to mandate non financial disclosures for specific companies while
other regions follow a voluntary path. There are also pressures to generate corporate reports that
reflect integrated performance, to eventually allow investors to make choices that better reflect
socioeconomic and environmental impacts.

**************************************

INTEGRATED REPORTING: A STRATEGIC APPROACH FOR THE SUSTAINABLE

BUSINESS DEVELOPMENT
Dr.Pushpendra Misra, Associate Professor, Department of Commerce, Dr. Shakuntala Misra
National Rehabilitation University, Lucknow
Anshu Gupta, Research Scholar, Department of Commerce, University of Lucknow, Lucknow.
Abstract
The Integrated Reporting (IR) is process that results in communication by an organization, most
visibly a periodic integrated report, about how an organizations strategy, governance,
performance, and prospects lead to the creation of value over the short, medium and long- term.
IR depicts the concept of value creation, value assessment and game changer respectively. The
objective of this paper is to explore the concept of Integrated Reporting along with its guiding
principles, content elements and future aspects of the Integrated Reporting.

**************************************

INTERGRATED REPORTING
Dr. Praveen Ojha, Professor and Head, Faculty of Commerce, Dr. Bhagwat Sahai Govt.
College, Gwalior
Abstract
Stakeholders are calling for enhanced reporting of corporate responsibility and other information
that impacts business performance. Integrated reporting seeks to provide stakeholders with
additional information to help them make more informed assessments of companies and their
long-term prospects. Companies may benefit from thinking about their reporting in an integrated
way. This can help them better integrate strategy, governance, and other factors as part of their
internal and external reporting. Integrated Reporting brings together material information about
an organizations strategy, governance, performance and prospects in a way that reflects the
commercial, social and environmental context within which it operates. It provides a clear and
concise representation of how an organization demonstrates stewardship and how it creates and
sustains value. In simple terms, integrated reporting refers to the integrated representation of a
companys performance in terms of both financial and non financial results. The primary purpose
of an integrated report is to explain to providers of financial capital how an organization creates
value over time. An integrated report benefits all stakeholders interested in an organizations
ability to create value over time, including employees, customers, suppliers, business partners,
local communities, legislators, regulators and policy-makers.
**************************************
COMPANIES ACT, 2013 (CLAUSE 135) AND REPORTING OF CSR WITH REFERENCE TO
SELECTED COMMERCIAL BANKS IN INDIA
Mrs. Vasanti Joshi, Associate Professor, SNDT Arts and Commerce College for Women, Karve Road,
Pune.
Abstract
Purpose-The purpose of this paper is to study Clause 135 of Companies Act, 2013 relating to Reporting
of Corporate Social Responsibility and to examine reporting done by selected five banks in their Annual
Report 2014-15 with reference to design, method, details and approach while giving information in
Auditors Reports.
Method- The study is based on secondary data of two types. First, the details of Companies Act 2013 are
studied for understanding rules and expectations for conducting CSR activities and their reporting along
with Global Reporting Initiatives. Secondly, Annual Reports of selected five Indian Commercial Banks
namely SBI, Bank of India, ICICI Bank, HDFC Bank and Kotak Mahindra Bank for the year 2014-15 are
studied for examining the implementation of CSR reporting rules for the very first year after
implementation of the Companies Act, 2013.
Findings- The principal finding shows that the selected five Indian Commercial Banks carry out activities
under CSR and do report the same every year in their Annual Reports. Their Directors Report included in
the Annual Report for the year 2014-15 follow the rules and style mentioned in the clause 135 for
disclosure of CSR. It is further observed that current disclosures of private sector banks are more
professional. Their reports suggested that they are more proactive.

Keywords- CSR, Clause135 of the Companies Act 2013, Global Reporting Initiatives.
**************************************
DISCLOSURE OF ACCOUNTING POLICIES IN BANKING SECTOR A CASE STUDY OF
ANDHRA BANK
Prof. V. Appa Rao, Department of Commerce, Osmania University, Hyderabad.
Abstract
Financial statements are prepared in accordance with the generally accepted accounting principles
(GAAP) accounting standards and accounting policies. Generally accepted accounting principles are the
conventions, rules and procedures necessary to define accepted accounting practice at a particular time.
These are the ground rules for financial reporting and provides the general framework determining what
information is included in financial statements, and how this information is to be presented. They include
conventions, bases and presentation practices, e.g., accrual concept and convention of materiality.
Accounting standards are the written documents, policy documents issued by expert accounting body or
government or other regulatory body covering the aspects of recognition, measurement, treatment,
presentation and disclosure of accounting transactions in the financial statements, e.g., accounting
standards issued by Accounting Standards Board in India. Accounting policies are the specific
accounting bases judged by business enterprises to be most appropriate to their circumstances and
adopted by them for the purpose of preparing financial accounts. For example, the choice of depreciation
methods depends on depreciation policy formulated by management.
Thus, disclosure of the significant accounting policies on which the financial statements are based is,
therefore, necessary so that they may be properly understood.
**************************************
GREEN ACCOUNTING AND REPORTING (ISSUES AND CHALLENGES)
Dr. Ritesh Agarwal, Associate Professor, Faculty of Management, Khandelwal College of Management
Science & Technology, Bareilly.
Dr. Rajeev Mehrotra, Associate Professor, Faculty of Commerce, Bareilly College, Bareilly.
Dr. Narendra Batra, Associate Professor, Faculty of Commerce, Ram Lubhai Sahani Government
Mahila Degree College, Pilibhit.
Dr. Peeyoosh Sharma, Associate Professor, Faculty of Management, Khandelwal College of
Management Science & Technology, Bareilly.
Abstract
Increase in world population, changes in economic activities in the past few decades, enormous
advancement in science and technology and globalization are leading to change in the eco system.
The world today is facing the alarming situation due to imbalance in the eco system. Organizations are
exploiting the natural resources and are putting pressures on environment. While consistently
emphasizing on the economic and industrial development, we have taken the environment for granted.
The result of such leniency towards environment has resulted into several remarkable incidences in the
past including the Bhopal chemical leak (1984), Tsunami in India (2004) and Kedarnath tragedy (2013)
and many more. In recent years, environmental pollution has become so acute and the stakeholders

awareness to this issue has become so serious that the green accounting (previously known as
environmental accounting) has become a strong branch of accounting. The issue of environmental
responsibility and the sustainable industrial development has given to the birth of new branch of
accounting, i.e. Green Accounting and Reporting.
Green Accounting is a field that identifies resource use, measures and communicates costs of a
companys or national economic impact on the environment. It is the process of identification,
measurement and commutation of information in the environmental responsibility of the performance of
an entity to permit economic decision. There is no conceptual framework of green accounting and its
disclosure. For proper implementation of green accounting in India a large number of researches,
discussion, accounting standard and regulatory frameworks is necessary. Examining the integration of
environmental policy with business policy is the focus of this research. The business firms strategy
includes responding to capital and operating costs of pollution control equipment. This is caused by
increasing public concerns over environmental issues, and by a recent government-led trend to incentivebased regulation.

Keywords: Green Accounting, Reporting, Environment Pollution.

**************************************

ANALYSIS OF INTEGRATED REPORTING FRAMEWORK

(A CASE STUDY OF TATA STEEL COMPANY)
Poonam Sharma, Ph.D. Scholar, ABST Department, University Of Rajasthan, Jaipur
Abstract
IR is a process that results in communication, using a periodic integrated report, about value creation
over time. An integrated report is a concise communication about how an organizations strategy,
governance, performance and prospects lead to the creation of value over the short, medium and long
term and importantly:
shows the connectivity between them; and
explains how they affect the ability of an organization to create and sustain value in the short, medium
and long term. The integrated report is principally aimed at providers of financial capital, but will benefit
a wide range of stakeholders. This paper is aim to present an outlook about how integrated reporting is
prepared and how it will helps a company to build its brand value and goodwill in the market and get the
confidence of its stakeholders. This paper explains about the integrated reporting framework and how it
analyzed with a purview of stakeholders.
In this paper an attempt is made to illustrate an example of integrated reporting framework with taking
TATA Steel LTD. Co as part of the study of current paper. In which it will explain that IR reporting
framework covers six parameters:, (i) Operating Context, Risks and Opportunities, (ii)Organizational
Overview of the Business Model, (iii)Strategic Objectives and Strategies, (iv)Governance System,
(v)Performance, (vi)Outlook.

**************************************

INTEGRATED REPORTING FRAMEWORK: PARADIGM SHIFT IN CORPORATE

REPORTING
Mohan Lal Sharma Assistant Professor, PG Govt. College, Sector-11, Chandigarh.
Abstract
Present corporate reporting model does not give a holistic view of organizations because the information,
though voluminous, is not coherent. Stakeholders are increasingly looking for information that can help
them understand how a company creates and sustain value over the long term. This paves the way for an
integrated reporting model providing a complete picture of a companys strategy, governance,
performance and prospects. The concept of integrated reporting, as it is of recent origin, is in evolving
stage only. International Integrated Reporting
Council (IIRC), a global coalition of regulators, of regulators, investors, companies, standard setters, the
accounting profession and NGOs, is promoting communication about value creation as the next step in
the evolution of corporate reporting. It has come out with Integrated Reporting<IR> Framework in 2013
and its objective in breakthrough phase (2014-2017) is to achieve a meaningful shift towards early
adoption of the International Framework. The frame work is principle based and does not prescribe
specific key performance indicators but does allow to include key performance indicators and other
monetized metrics in the integrated report whenever it is practicable and relevant to report the
organizations ability to create value. Integrated report (IR) is not intended to be a summary of other
reports but is expected to show connectivity of information that how value is created over time.IR
includes eight content elements that are fundamentally linked to each others. Guiding principles are to be
used in the preparation of integrated report. The present paper attempts to analyses the guidelines
provided in the framework and their practical implications on the organizations while implementing them.
Therefore, the main objective of this paper is knowledge sharing and clarification through deliberations.
Keywords: Integrated reporting, IIRC, <IR> Framework, Content elements, guiding principles, value
creation.
**************************************
INTEGRATED REPORTING: AN OVERVIEW
Naveed Sehar, Research Scholars, Faculty of Commerce, BHU.
Rashmi Jaiswal, Research Scholars, Faculty of Commerce, BHU.
Archana Upadhyay Research Scholars, Faculty of Commerce, BHU.
Abstract
Integrated reporting is a part of nonfinancial reporting. This concept was recently introduced in India and
was first implemented by Tata Steel in the year 201213. This reporting was completely new for Indian
companies. Integrated Reporting enables an organization to communicate its vision, its strategic
objectives and the strategy that it will implement through its business model. Its performance is based on
the result of these strategies, the mitigation of risks, the exploration of opportunities and governance
structures that lay the foundation of its future outlook. This is where the concept of Integrated Reporting
comes in. IR enables an organization to communicate in a clear manner on how it is utilizing its resources
and relationships to create, preserve and grow value in the short, medium and long term. And thus helping
investors to manage risks and allocate resources most efficiently. This research paper consists of an
overview of integrated reporting, objectives of integrated reporting, challenges faced by them.

**************************************

STAKEHOLDERS PERCEPTION TOWARDS ONLINE FINANCIAL REPORTING IN

SELECTED BANKS OF INDIA, U.K. & U.S

Prof. Pramod Kumar, Head & Dean, Accountancy and Law, Faculty of Commerce, Dyalbagh
Educational Institute, Agra.
Ms. Meenakshi Chawla, Research Scholar, Accountancy and Law, Faculty of Commerce, Dyalbagh
Educational Institute, Agra.
Abstract
This paper emphasizes on the essential objects of banks towards online financial reporting of selected
Indian, U.K and U.S. banks. To achieve this objective, five banks have been selected from each country
on the basis of net worth and market capitalization, for this purpose a questionnaire had been designed
and sends to 480 respondents of different countries through the electronic media and after making
repeated efforts in this direction, 128 respondents of selected countries returned the complete
questionnaire. This analysis has been made under different heads which includes respondents profile,
contents of a websites, determination of visiting websites and perception of stakeholders on different
aspects of websites and analysis has been done through factor analysis.
Key Words: Stakeholders Perception, Websites, Financial Reporting, Factor Analysis.
**************************************
CHALLENGES AND OPPORTUNITIES FOR INTEGRATED REPORTING IN MNCS

M.Janakiram Vice-Principal and S. G. Lecturer in Commerce Badruka College of Commerce and Arts.
Dr.K.Anjaneyulu, Reader, Badruka College of Arts & Commerce, Kachiguda.
Abstract
Conceptually, integrated reporting would build on the existing financial reporting model to present
additional information about a companys strategy, governance, and performance. It is aimed at
providing a complete picture of a company, including how it demonstrates stewardship and how it creates
and sustains value.
In recent years, Companies responsibilities towards society have expanded significantly, and former
business models have been revised in line with a more populist approach, which takes stakeholders,
sustainability, business ethics and transparency into account. These considerations are increasingly
reflected in corporate sustainability reporting, i.e., statements reflecting the impact of business practices
related to economic, environmental and social perspectives. However, the data contained in such
documents are reported independently of the financial aspects, implying a disconnection between the
three pillars of business strategy. In order to avoid this shortcoming, some leading companies have
developed integrated reporting, which expresses the interconnections between a firms strategy,
governance, performance and prospects, as well as the contexts within which it operates.

**************************************

CONTEMPORARY ISSUES IN INTEGRATED REPORTING

Dr. Laxman Ram Paliwal, Department of Commerce, Swami Shraddhanand College, Delhi University,
Delhi.
Rekha Gupta, Department of Commerce, Swami Shraddhanand College, Delhi University, Delhi.
Meenu Gupta, Assistant Professor, Department of Commerce, Sri Guru Gobind Singh College of
Commerce, University of Delhi.
Abstract
Markets move on information. The more forward- looking and detailed information organizations
provide, the more efficiently markets operate. Therefore, organizations need to explain their value
creation goals from a new perspective: a view that accounts for both intangible and tangible assets and
quantifies the value they create from a broader economic, social and environmental perspective. The
ultimate goal is to enable investors to make more efficient and effective decisions and bring an
organizations market value closer to its intrinsic value. Thus, leading organizations are adopting the
concept of integrated reporting. This paper explores the need for integrated reporting, highlighting the
insufficiency of current reporting practices, falling short of stakeholders needs and expectations and for
investment decision-making purposes. The benefits associated with integrated reporting have been
discussed along with the challenges faced in adoption of these practices. The interaction between
financial performance, intangible value and externalities has been examined. In the concluding part,
possible measures to effectively implement the integrated reporting practices are being discussed.
Keywords: Integrated Reporting, value creation, intangibles, externalities, financial reporting.
**************************************
INTEGRATED REPORTING AN EMERGING CONCEPT
Dr. Deepali Malodiya, Assistant. Professor, Institute of Management Studies, B.J.S. Rampuria College,
Bikaner.
Abstract
The economy is facing a new value paradigm. These changes, however, are not reflected in the way we
measure or report value. Traditional corporate reporting models have failed to adapt to an uncertain
economy and account for the increase in intangible assets. Traditional metrics for measuring value and
economic progress no longer provide a complete picture. In the last 35 years, the market value of
organizations has slowly shifted from a price based largely on tangible assets to greater emphasis on
intangible assets. The concept of value has fundamentally changed, and with it the dynamics of the global
economy. Integrated reporting is a management and communication tool for understanding and
measuring how organizations create value now and in the future. The goal is not to provide more
information, but better information. Its the information that investors are increasingly looking for.
Markets move on information. The more forward- looking and detailed information organizations
provide, the more efficiently markets operate. Therefore, organizations need to explain their value
creation goals from a new perspective: a view that accounts for both intangible and tangible assets and
quantifies, whenever possible, the value they create from a broader economic, social and environmental
perspective.

Thus, the paper put insight on the aspect of Integrated Reporting. This reporting pattern is the reflection
of changing scenario where every stakeholder needs to know about every facet of organization where it is
performance, business model, etc. not just financial information.

**************************************
INTEGRATED REPORTING: A CONCEPTUAL FRAMEWORK
Prof. (Dr.) Dinesh Sharma, Professor, Department of Commerce, University of Lucknow, Lucknow.
Mohd Arif, Research Scholar, Department of Commerce, University of Lucknow, Lucknow.
Vijay Kumar Gupta, Research Scholar, Department of Commerce, University of Lucknow, Lucknow.

Abstract
Due to the Globalization and Integration, the way of carrying out a Business has been totally changed.
The existing reporting model becomes insufficient to cater the present information needs of stakeholders.
This insufficiency leads to the development of Integrated Reporting (IR). Integrated Reporting is the
integration of financial and non-financial information into a single Integrated Report. In December 2013,
International Integrated Reporting Council (IIRC) issue an International Integrated Reporting Framework
with the objective to guide organizations on communicating the broad set of information needed by
various stakeholders to assess the organizations long-term prospects in a clear, concise, connected and
comparable format. The present study explores the basic concept of Integrated Reporting.
Keywords: Corporate Reporting, Integrated Reporting, IR Framework, King III Report, IIRC

**************************************

CONVERGENCE OF INDIAN ACCOUNTING STANDARDS WITH INTERNATIONAL

FINANCIAL REPORTING STANDARDS

Dr. C.P. Jain, Associate Professor, Department of ABST, University of Rajasthan, Jaipur.
Ankit Acharya, Research Scholar, Department of ABST, University of Rajasthan, Jaipur.
Shalini Verma, Research Scholar, Department of ABST, University of Rajasthan, Jaipur.
Abstract
Pecuniary growth of any country is supported by strong governance, from top to bottom excellence
standards and stable regulatory framework. Rigorous financial reporting standards emphasize the trust
that investors place in financial information. In this manner, such standards indicate an important role in
the pecuniary growth of a country. As it is actually said that the world is flattering a village, discussion on
convergence of accounting standards of a country with IFRS has increased significantly.
In India, the ICAI formulates the accounting standards on numerous issues. But since last few years, the
goal has been following the IFRS to the extent possible. Henceforward, while issuing accounting

standards, IFRS need to be accepted appropriately. However, unconventionalities from IFRS have been
prominent because of some unavoidable causes like legal and regulatory requirements, economic
environment, levels of preparedness, conceptual differences etc. Consequently, it can be said that even if
there has been a lot of deliberation on convergence of Indian accounting standards with IFRS, it is
challenging to embrace IFRS considering the indigenous difficulties. In order to resolve this problem, the
ICAI has given a roadmap through which, IFRS can be adopted in India in a phased manner from April,
2011.
Keywords: Accounting standards, ICAI, IFRS, IAS and Convergence.

**************************************
INTEGRATED REPORTING OPPORTUNITIES AND CHALLENGES
Dr. C. Venkateswar Rao, Post-Doctoral Fellow, Department of Commerce, Sri Venkateswara
University.
Dr. K. Subramanyam, Post-Doctoral Fellow, Department of Commerce, Sri Venkateswara University.
Dr. D. Subramanyam, Post-Doctoral Fellow, Department of Commerce, Sri Venkateswara University.
Abstract
Integrated Reporting brings together material information about an organizations strategy, governance,
performance and prospects in a way that reflects the commercial, social and environmental context within
which it operates. It provides a clear and concise representation of how an organization demonstrates
stewardship and how it creates and sustains value. In other words, Integrated Reporting refers to the
integrated representation of a companys performance in terms of both financial and non-financial results.
Integrated reporting provides greater context for performance data, clarifies how sustainability fits into
operations or a business, and may help embed sustainability into company decision making.
Some companies that report in an integrated manner also report additional sustainability information,
often online, for specific stakeholder groups.

**************************************

ROLE OF ACCOUNTING IN REVITALISING DISTRESSED ASSETS AND THEIR

RESTRUCTURING
Prof. Vinod Barochia, Commerce/BBA College, Bilkha Road, Junagadh, Gujarat.
Abstract
Accounting is an art as well as science for the business. Success of an enterprise depends on
proper accounting system. No any decision is possible without certain information. Such
information is available from accounting records only. The banks while lending would rely on
accounting data for determining viability for lending. In adverse circumstances, when an

enterprise fails to pay the principal or interest as the case may be, the banks shall rely on the
accounting data, while restructuring such account. Management of any enterprise shall have to
take several managerial decisions. They also take such decisions on the bases of the accounting
data. Such a way to create healthy business environment and economic development of nation
the accounting has to play an important role, whether people believe or not.
Keywords: Accounting, NPA, Distresses Assets, Restructuring, Managerial decisions.
**************************************
ACCOUNTING, REPORTING AND TRENDS OF NON-PERFORMING ASSETS (NPAS) OF
SCHEDULED COMMERCIAL BANKS IN INDIA

Dr. Sandeep Kumar Goel, Associate Professor, Acharya Narendra Dev College, University of Delhi,
New Delhi
Abstract
The commercial banks perform an important role in nation building because they work as financial
intermediary by acceptance of deposits and lending of money. When they lend money, some of their loans
may become NPAs which adversely affect their profitability and assets quality. Although, India has been
least affected by global financial crises of the year 2008, yet the assets quality and profitability of
Scheduled Commercial Banks (SCBs) in India have declined during the post global financial crises
period.
It is in this context, the present paper seeks to discuss the regulatory framework related to accounting and
reporting of NPAs, study the institutional and legal reforms for management of NPAs, analyse the trends
of NPAs and profitability of SCBs in India for the five years period from 2009-10 to 2013-14 and give
suggestions for effective management of NPAs so as to build a strong nation.
It is found that the NPAs of SCBs in India have shown an increasing trend as revealed by their ratios of
gross NPAs to gross advances, gross NPAs to total assets, net NPAs to net advances and net NPAs to
total assets during the study period. The profitability of SCBs in India has shown a decreasing trend as
revealed by their ratios of return on assets and return on equity during the study period.
It is suggested that the SCBs in India should effectively manage their NPAs so as to contribute towards
building of strong nation and for effective management of NPAs they should ethically account and report
NPAs, develop appropriate credit assessment and risk management mechanism, inculcate the repayment
ethics amongst the borrowers, ensure the ethical end-use of the disbursed funds, do not sanction loans
with malafied intentions, take strict actions on large value wilful defaults and restructure the genuine
NPAs.
Keywords: Scheduled Commercial Banks, NPAs, Return on Assets, Return on Equity.

**************************************

ROLE OF CORPORATE SOCIAL RESPONSIBILTY TOWARDS THE GROWTH OF MSMES

IN INDIA

Vishnu Maya Rai, Research Scholar, Faculty of Commerce, Banaras Hindu University.
Manish Kumar Jaiswal, Research Scholar (JRF), Faculty of Commerce, Banaras Hindu
University.
Ritesh Gaurav, Research Scholar (JRF), Faculty of Commerce, Banaras Hindu University.
Abstract
The setup and flourishment of Micro Small and Medium Enterprises is a resourceful input
leading to the rapid development of economic and social prospects. MSMEs are the medicines
which Indian Economy needs at this moment. CSR activities can help to a great extent in
improving the survival rate of MSMEs and may offer more opportunities for business
competitiveness, nationally and internationally. CSR helps to create and develop entrepreneurial
foundation of the nation by supporting the enterprises through supply of raw materials and a
range of components required for production or manufacturing. The main aim of this research
paper is to examine the role of CSR activities in the betterment of MSMEs. Another motive is to
examine the impact of strategies of CSR on expansion of MSMEs in INDIA. This paper gives
evidences that CSR activities are not only helping the Big Companies but also small enterprises
by creating competitiveness amongst MSMEs.
Keywords: Micro Small and Medium Enterprises, Corporate
Competitiveness, Entrepreneurial, Production, Manufacturing.

Social

Responsibility,

**************************************

ROLE OF ACCOUNTING IN NATION BUILDING RELATED TO ETHICS

Dr. Rajeev Nayan Singh, Assistant Professor, Dept. of Commerce, Jagran College of Arts,
Science & Commerce, Kanpur.
Dr. Meera Singh, A. Professor, UP Autonomous College, Varanasi, UP.
Prof. H.K.Singh, Vice-Chancellor, Maharishi University of Information Technology.
Sapan Asthana, Research Scholar, Dr.A.P.J. Abdul Kalam Technical University, Lucknow.
Abstract
Accounting ethics is primarily a field of applied ethics, the study of moral values and judgment
as they apply to accountancy. It is an example of professional ethics. Accounting ethics were
first introduced by Luca Pacioli, and later expended by government groups, professional
organizations, and independent companies. Ethics are taught in accounting courses at higher
education intuitions as well as by companies training accountants and auditors.
Due to the diverse range of accounting services and recent corporate collapses, attention has
been drawn to ethical standards accepted within the accounting profession. These collapses have
resulted in a widespread disregard for the reputation of the accounting profession. To combat the
criticism and prevent fraudulent accounting, various accounting organization and governments
have developed regulations and remedies for improved ethics among the accounting profession.

The nature of the work carried out by accountants and auditors requires a high level of ethics.
Shareholders, potential shareholders, and other users of the financial statement rely heavily on the yearly
financial statements of a company as they can use this information to make an informed decision about
investment. They rely on the pinion of the accountant who prepared the statements, as well as the auditors
that verified it, to present a true and fair views of the company. Knowledge of ethics can help accountants
and auditors to overcome ethical dilemmas, allowing for the right choice that, although it may not benefit
the money, will benefit the public who relies on the accountant/auditors reporting.

**************************************

INTERNATIONAL SEMINAR
ON
ACCOUNTING EDUCATION
AND RESEARCH

DETERMINANTS OF EARNINGS MANAGEMENT: A STUDY IN INDIAN CONTEXT

Ramesh Chandra Das
Maheswar Sethi
Dr. Chandra Sekhar Mishra
Dr. Prabina Rajib
Abstract
This paper estimates and investigates factors that potentially influence the accrual-based earnings
management and real-earnings management. The determinants of accrual-based earnings
management and real-earnings based earnings management are examined using panel data for
269 listed Indian firms for the period 2009-2013. To estimate the accrual-based earnings
management and real-earnings management, Modified Jones Model (1995) and Roy Chowdhury
Model (2006) are used respectively. The primary estimation finds that the Indian firms indulge
accrual-based earnings management as well as real-earnings management. The empirical
investigation explores that growth opportunity, financial leverage, firms performance and
business group affiliation affect the accrual-based earnings management positively whereas,
institutional ownership and dividend payout ratio affect negatively. The study also finds that
financial leverage, firms performance and business group affiliation have positive relationship
with real-earnings management whereas, firms size and institutional ownership have negative
relationship. Overall, the study finds that financial leverage, firms performance, institutional
ownership and business group affiliation influence both accrual-based earnings management as
well as real-earnings management.
Keywords: Accrual-based Earnings Management; Real Earnings Management;
**************************************

AN ASSESSMENT OF QUALITY OF ACCOUNTING EDUCATION WORLD-WIDE

AND A COMPARATIVE STUDY OF ACCOUNTING EDUCATION IN INDIA AND
AUSTRALIA
Dr. Nazia Sultana , Assistant Professor and Head, Department of Commerce, University
College for Women, Osmania University, Hyderabad
Mrs. B. Shailaja , Assistant Professor, Department of Commerce, University College for
Women, Osmania University, Hyderabad
Abstract
Accounting education has been a key factor in determining the growth of a nation. Accounting
education fosters accounting profession, helps in maintaining ethical standards and contributes to
nation building. Accounting has been offered as a core paper at higher secondary, graduation and
post-graduation level in many universities across countries. Several papers such as Cost
Accounting, Management Accounting, Ethics in Accounting, Accounting for Corporate etc are
offered to the students but after completion of their course, only a few graduates are able to make
a real life application of what is learnt by them. Graduates passing from Universities in India

with an Accounting degree are not accorded a professional status unless they are affiliated to an
Accounting body such as ICAI or ICWA or ICSI. There is also a challenge that is posed due to
integration of accounting and computer science leading to inclusion of accounting packages in
the curriculum of the Universities. Another challenge is posed by the MOOCs (Massive Open
Online Courses), certification of the degree, course content and delivery method. The paper is
divided into two sections. First, an analysis of the world-wide data related to accounting
education is done while in the second section the focus is on examining current status of
accounting education in India and Australia. The paper documents the alignment of accounting
education in India and Australia with the International Education Standards (IES). This is an
analytical paper that analyses quality of accounting education on dimensions such as entry
requirements for the profession, inclusion of IES in the curriculum, inclusion of ethical standards
and presence of various recognized professional accounting bodies. The data is analysed using
statistical tools such as chi-square, ANOVA and regression.
Key words: Ethics, Curriculum, Accounting Profession, Affiliation, International Accreditation.
**************************************

INTERNATIONAL ACCOUNTING EDUCATION IN WESTERN EUROPE

Prof. Bharatbhai Parshottambhai, Matrushree Kaliba Gordhanbhai Dholaria Mahila B.B.A.
College, Dr. Haribhai Godhani Campus, Junagadh
Abstract
Based on a questionnaire sent to European institutions, the objective of this study is to determine
how international accounting is taught in Europe. The results focus on the number of courses, the
topics covered and the books recommended. An agglomerative hierarchical clustering technique
enabled us to define four groups of institutions, corresponding to different approaches of
international accounting education. Discriminate topics were identified, making it possible to
define a true "strategy" for the preparation of a course syllabus. Our survey also provides
information relating to two matters of debate. Firstly, although some differences do exist
between countries, the majority of courses are specific, as opposed to general courses integrating
certain international accounting aspects. Secondly, a material number of institutions succeed in
covering both comparative aspects and accounting dimensions of multinational enterprises.

**************************************

PRAGMATISM IN ACCOUNTING EDUCATION: AN EVALUATION OF SUBJECTS

UNDER MASTER OF COMMERCE PROGRAMME OFFERED BY VARIOUS
UNIVERSITIES OF GUJARAT
Dr. Kaushal A. Bhatt, Assistant Professor, PG Research Centre for Global Business studies,
Gujarat Technological University, Ahmedabad, India

Abstract
A fundamental tenet of the accounting profession is that accounting information is important for
business decision making. In virtually all small, medium or large companies accounting
information is recorded, managed and often analysed in enterprise systems. Consequently we
have witnessed an increase in the importance and complexity of enterprise systems and
broadening in scope of the financial and non-financial information they provide. This shift
evidences that many of the traditional, essential skills of professional accountants are being
replaced by new technologies that are increasing in number and being rapidly developed.
Accordingly, as accountants increasingly use these systems to support business decision making,
they must be educated in the operation of technologically enabled business processes, including
at the tertiary level. Pragmatism is a practical, matter-of-fact, way of approaching or assessing
situations or of solving problems. This paper attempts to check the practicality in the accounting
education especially at Post Graduate (M. Com.) level program. The seven universities of
Gujarat have been selected as sample of this study. Here, the researcher has tried to analyse the
similarity and differences in the subjects offered by selected universities at post graduate
program (M. Com.) and the level of pragmatism in each course. This study is based on the
secondary data which is collected from the course contents of selected universities of Gujarat. It
is also observed that none of the universities of Gujarat is teaching computer-based accounting
software/program as a core subject in their M. Com. Program, however Bhavnagar University
has put this in additional reading and Sardar Patel University has one subject named Computer
Application to Business. There is urgent need of Project Based Learning (PBL) and Activity
Based Learning (ABL) at the post graduate level with special reference to accounting education.
It is also required to minimize gap between industry and institute by providing industry training
to commerce aspirants at post graduate level.
Keywords: Pragmatism, Accounting Education, Project Based
Learning, Computer Based Accounting, Post Graduate Courses

Learning, Activity Based

**************************************

ACCOUNTING EDUCATION AND RESEARCH IN INDIA: A CASE STUDY

Ravi Kant Modi, Lecturer, Department of Economic Administration & Financial Management,
Faculty of Commerce, LBS P.G. College & Research Scholar, Department of EAFM, University
of Rajasthan, Jaipur, Rajasthan.
Manisha Gupta, Research Scholar, Department of ABST, Faculty of Commerce, University of
Rajasthan, Jaipur, Rajasthan.
Abstract
The context in which Higher Education Institutions (HEIs) across the globe have to render
service is changing, India is no exception. In fact, most of the Higher Educational Institutions in
India are adaptable to changes. The present study aims to study the perceptions of some of the
stakeholders about NAAC Parameters, the impact of the initiatives of Academic Staff Colleges

as perceived by the lecturers/ participants and some of the ways to improve the quality of
accounting education and research in India.

**************************************

ACCOUNTING EDUCATION AND RESEARCH

Dr. Brij Mohan Khatri, Faculty Member in Commerce, Jai Narayan Mohanlal Purohit,
Government College, Phalodi (Jodhpur)
Abstract
Accounting education and research in current phenomena is an important issue. It has been seen
that accounting curriculum of some of the Universities which provide commerce education in
India, give Accountancy as a single course in the main stream. Whereas other courses like
Management, Law, Taxation, Banking, Insurance, Economics, Organization Behaviour and some
related courses are also imparted. There is no specialization in accounting course curriculum
which is being offered by these educational institutions both at graduation and post-graduation
level. Accounting research can be performed in two ways i.e. positive and normative. In present
scenario accounting research covers vide range of relative topics like as Managerial Accounting
Research, Auditing Research, Taxation Research, Governance Research, AIS Research, and
Human Resource Accounting Research. The accounting profession has reached a crossroad. Will
it take the road labelled "more debits and credits for the bygone industrial age" or will it take the
road labelled "decision support for the information age?" The answer is largely up to our
accounting faculty. Research has its vital role to maintain in our accounting profession. More
emphasis should be given on research and development activity in accounting education both in
educational and professional institutions.

**************************************

PROFITABILITY ANALYSIS OF SELECTED PUBLIC AND PRIVATE SECTOR

BANKS IN INDIA
Ashish Gupta, Research scholar, Faculty of Commerce, Banaras Hindu University
Dr. V. S. Sundaram, Professor, Faculty of Commerce, Banaras Hindu University
Abstract
Public sector banks and private sector banks are dominant players which play important role in
growth of Indian economy. The present research paper aimed to examine and compare the
financial performance of selected public and private sector banks in India during 2009-10 to
2013-14. Data of public sector banks (Bank of Baroda, Punjab National Bank, Central bank of
India) and private sector banks (ICICI bank, HDFC bank, Axis bank) for 5 years, has been
collected from their official sites and annual reports. This study is primarily based on secondary
data and financial ratios are used. Some selected variables like Assets, Net profit, Interest
expenditure, interest income, deposits are taken to know the financial positions of selected banks.

The study found that overall performances of private sector banks are better than public sector
banks.
**************************************

RELEVANCE OF PROFESSIONAL ACCOUNTING EDUCATION IN

CONTEMPORARY BUSINESS SOCIETY
Mrs. NIbedita Mallick, Asst. Professor of Commerce, Bankinm Sardar College, 24 Parganas
(South), West Bengal
Abstract
Accounting practices could be traced to the time since the world was created. As development
evolves in the life of mankind, the use of various Accounting tools and techniques to the benefit
of everybody living around us becomes important. Though these tools and techniques were not
formally recognized in the early century, the contemporary Accounting methods have been
introduced in different professional courses through which people are benefited. In the late
nineteenth century, the earlier professional accounting bodies were concerned mostly with the
concept of insolvency, insurance, debt collection and book keeping but now over the last
decades, accountancy has expanded to cover costing and information systems, fraud prevention,
asset and business valuation, prospectuses and takeovers and also as auditors and financial
analysts, they provide value and supply chain management, portfolio investment analysis, project
appraisal, assurance to risk management, governance and internal control process through highquality corporate reporting. Financial sector development plays an important role in increasing
economic growth, through improvement in the capital accumulation. Accounting knowledge
must adapt and update itself to be effective in the economy and financial markets. Curriculum of
universities and educational institutions must also be changed appropriately with these changes
in order to educate the students proportionate with the societys needs. Research in accounting is
very important, and it is expected that academic research in accounting would improve the
quality of accounting education in the country. The study is mainly a literature review type,
based on secondary data with some informal interviews. The paper reveals some information on
the significance of accounting research in India to improve quality of accounting education, a
relationship that is necessary for ensuring the production of high quality accounting graduates
that could become assets to the economy. It is, therefore, recommended to explore academic
accounting researches to improve the quality of accounting knowledge to the students, and help
in satisfying the needs of the economy.

**************************************

ROADBLOCKS TO IMPLEMENTING GOODS AND SERVICES TAX

Dr. Mehak Mehandiratta, Assistant Professor, D.A.V. College, NIT 3, Faridabad.
Dr. Mohender Kumar Gupta, Principal and Associate professor, Government College, Hodal,
District, Palwal, Haryana.

Abstract
The paper is about the Goods and Services Tax the Legislative roadblocks in its
implementation. Goods and Services Tax( GST) is a topic of national and political debate today.
GST is being considered as one of the biggest tax reforms after independence. The paper
explains in detail the need of GST and compares the Constitution (115th Amendment) Bill
brought in by the previous UPA government with the new The Constitution (122nd Amendment)
Bill brought in by the NDA government. The paper highlights the points of contentions between
the ruling government and the opposition.

**************************************

EMERGING DIMENSIONS OF ACCOUNTING EDUCATION IN INDIA

Dr.P.Chengalrayulu, Post-Doctoral Fellow (ICSSR), Department of Commerce, S.V.U College
of CM&CS, Sri Venkateswara University, Tirupati, Andhra Pradesh.
Prof.K.Ramakrishnaiah,Dean, College Development Council, Department of Commerce,
S.V.U College of CM&CS, Sri Venkateswara University, Tirupati, Andhra Pradesh.
Abstract
Accounting education plays an important role for not only the requirement of industry and
business but a milestone for social, political and economic development. Indian Accounting
education system is based on double entry system of book keeping which was earlier introduced
by many developed countries like Japan, Italy and United Kingdom. Accounting education in
India is provided as part of commerce stream in secondary, graduation and post-graduation level
of different educational institutions. But, in the changing scenario particularly in globalization
and liberalization era the business and industry have to face many challenges like stiff
competition, technological up-gradation, cost reduction, improvement in quality, customer
satisfaction and outsourcing technique. The objectives of the present paper are: to explain the
role and importance of accounting education in India; to analyse the role and prospects of
Massive Online Open Courses in accounting education in India and to discuss the accounting
framework for educational institutions in India. It is concluded that today the accounting
education in India has not been upgraded to the expected levels of academicians and practioners.
Rather, it is confined with only a feedback system to the professional institutions like ICAI,
ICWA and ICSI. Hence, the purpose of accounting education has not been fulfilled to meet the
requirements of present business and industry. Accounting education is provided by different
universities in the country in order to fulfil the demands of traditional business entrepreneurs.
There should be a scope for industry-institution interface in accounting education so that the
professional accountants as well as the students of accounting education can compete with the
liberalization and globalization scenario of business and industry.

**************************************

EMERGING DIMENSIONS OF ACCOUNTING EDUCATION AND RESEARCH IN

INDIA
Dr. Mahboob Alam, Assistant Professor, Deptt.. of Commerce,Buddha P.G. College,
Kushinagar (U.P.)
Dr. Shahid Jamal Ansari ,Principal ,Islamia College OF Commerce, Gorakhpur
Abstract
The Accounting education in India had touched the new height in recent years. Many students
are opting this course to make their career in corporate and government sector. Accounting as
core paper has been imparted to the students in Higher Secondary, Graduation and Post
Graduation level of Universities of the country. But, many students are not able to make the
application of accounting education in their real working field. So, it is desirable on the part of
the educational institutions to not only provide Accounting education as a feedback mechanism
to professional institutions like ICAI, ICWA and ACA but also take as challenge so that more
employability can be created for the students of accounting education of our country. With the
emerging scenario, the Accounting education should not be restricted to the traditional teaching
subjects like Management Accounting, Cost Accounting and Financial Accounting, rather it
should be replaced with E-Commerce and software based Accounting curriculum. This enables
the students of accounting education to be more professional in their carrier. The present study is
based on the objectives of accounting education to be effective in order to face future challenges
of economy in the field of business and industry.
**************************************

INDIAN ACCOUNTING STANDARDS AND CONVERGENCE TO INTERNATIONAL

FINANCIAL REPORTING STANDARDS
Amita Research Scholar ,Department of ABST, University of Rajasthan, Jaipur
Sandeep Kumar Chaurasia, Research Scholar ,Department of ABST ,University of Rajasthan,
Jaipur
Anju Sheoran, Research Scholar ,Department of ABST ,University of Rajasthan, Jaipur
Abstract
The forces of globalisation prompt more and more countries to open their doors to foreign
investment and as businesses expand across borders, the need arises to recognise the benefits of
having commonly accepted and understood financial reporting standards. In this scenario of
globalisation, India cannot isolate itself from the developments taking place worldwide. Since
the years, there have been various attempts by Indian regulators as well as the government to
converge the current accounting system in India (tentatively called Indian GAAP) to a system
similar to IFRS, considered today to be the prevalent worldwide set of accounting standards.
Indian GAAP has had its fair share of criticism, the most telling being that it avoids the principle
of substance over form in various topics in its literature. The first announcement of a plan to
converge came in July 2007. While suffering various setbacks through delays in recent years, the
current roadmap indicates that certain companies will have to mandatorily adopt Indian AS
(Indian Accounting Standards) next year. When assessing the major differences between IAS

and IFRS to evaluate whether complete convergence can ever be possible, most differences are
either avoidable or textual in nature. Three major potentially irreconcilable differences occur in
the topics IAS 19: Employee Benefits, IAS 32: Financial Instruments Presentation and IAS
103: Business Combinations. While it can be concluded that complete convergence can indeed
be possible one day, it would benefit Indian entities to have a slow route to convergence in order
to maintain a sense of comparability in their financial statements from Indian GAAP to IAS. The
biggest problem with standardization of accounting standards in the Indian economy is the vast
majority of the population living in the rural areas. While urbanization has been rapid in India
during recent decades, a large proportion of the nation still resides in the villages In this article I
will give an overview of Indian Accounting Standards converged with IFRS (IAS).
Keywords: Indian
Standards, GAAP

Accounting

Standards,

globalisation,

International Financial Reporting

**************************************

AN ECONOMETRIC STUDY ON CAPM AND RISK-RETURN RELATIONS FOR

SOME SELECTED STOCKS UNDER BOMBAY STOCK EXCHANGE
Amit Kundu, Assistant Professor, Department of Economics, Mathabhanga College, Cooch
Behar, India
C. K. Mukhopadhyaya, Professor (retired), Department of Economics, North Bengal
University, India
Abstract
The main purpose of this study is to empirically investigate the applicability of CAPM for some
selected stocks listed in the Bombay Stock Exchange (BSE) over the period January, 2014
August, 2015. The study shows that CAPM holds good completely for 16 stocks. So CAPM was
not found to be applicable to all the stocks under study. It may be noted that stocks with superior
risk adjusted performances by both Treynor and Sharpe measures, were also ones for which
CAPM held good completely. Stocks had superior risk-adjusted performances by both Treynor
and Sharpe measures and for all these 14 stocks CAPM held good completely. This indicates that
CAPM supportive stocks usually display superior market performances.
Keywords: CAPM,Treynor Statistics, Sharpe Statistics, B, Skewness, Jarque-Bera,Jansen
Statistics.
**************************************

SAVINGS AND INVESTMENT BEHAVIOUR OF COLLEGE FACULTY MEMBERS:

AN EMPIRICAL ANALYSIS WITH SPECIAL REFERENCE TO PUDUCHERRY
Dr. N. S. PANDEY, Assistant Professor, PG and Research Department of Commerce, Kanchi
Mamunivar Centre for PG studies [Affiliated to Pondicherry Central University]Lawspet ,
Pondicherry(India)

Abstract
This paper is to examine the savings and investment behaviour of college faculty members in
Puducherry region. This study deals with investors preference of Shares, Debentures, Mutual
fund, Bank deposits and Life insurance etc. The investigation is conducted through primary data
with a sample of 113 respondents from Puducherry region. The convenience sampling technique
has been used for the study. The core objective of this study is to find out saving preference of
investors about different investment avenues; to determine the association between demographic
variables and satisfaction level towards investment avenues. The perception of investment and
investors awareness of investment avenues have been analysed and interpreted. The data has
been collected through interview schedule from the selected respondents. Chi-square, MANOVA
(Multivariate analysis of variance), correlation and percentage analysis have been used for
analysis. The results of the study show that MANOVA age, gender, education, marital status and
income is highly significant towards investment preferences (significant at 1% level of
significance) and correlation inferences awareness towards investment avenues and education is
significant, Chi square find the satisfaction level towards investment has association between
age, gender, monthly income, marital status; education (significant association at 5% level of
significance).
Key Words: Investors, Avenues, Perception, Investment, Savings
**************************************

RESIDENTIAL PROPERTY PRICE INDEX, CNX NIFTY & FDI IN REAL ESTATE
SECTOR: A STUDY OF SIX CAPITAL CITIES
Ms. Rani Rajput, Research Scholar, Jiwaji University, Gwalior
Dr.Shivkumar Shrivastava, Professor, Govt. V. R. G. P.G. College, Morar, Gwalior
Mr. Abhishek Jain, HOD, C.S. Department, BVM College of Management Education, Gwalior
Abstract
Earlier in FY 2012-13 Indian housing market was booming at high rate that may lead to a bubble
like what happened in US property market having expectations that it will touch US$ 180 billion
by 2020. After more than three years of amazing house price rises, Indias property market
continues its downward trend, mainly due to high interest rates on home loans and slower
economic growth. Other hand, after declaration of 100% FDI and in October 2014 cabinet
amended the rules in this sector, hence, tremendous opportunities have opened for the investors.
When we about the stock market it is also continuously showing downward trend after April
2015 and it may also have significant relationship on housing price. This paper is going to show
behavioural relationship between FDI in Real estate, CNX Nifty and Residential property price
of six capital cities of India. Time period for study five-year quarterly data Q1:2010 to Q4:2014.
Under this study test of Stationary like Augmented Dickey Fuller, Co-integration, VEC and
Wald test for short term relationship will be applied in Eviews -5 Software.
Keywords: FDIRE, RPPI, CNX Nifty, Real Estate Market
**************************************

ANALYSIS OF COST CONSCIOUSNESS: A CASE STUDY OF RAJASTHAN STATE

ROAD TRANSPORT UNDERTAKING
Dr. R.K.Agarwal, Associate Professor, Dept. of ABST, University of Rajasthan, Jaipur.
Rajasthan
Dr. Pramod Bhargava, Assistant Professor, Dept. of Commerce & Management, DAV College,
Chandigarh.
Abstract
In the present era of cut-throat competition with the domestic and multinational corporations, the
endurance of any business depends very much upon its cost consciousness. Cost control and cost
analysis is the most important part of operation of any business, moreover, almost every activity
of business revolves around cost. The consciousness about cost is more important when it
concerns with the public sector or public sector undertakings. State road transport undertakings
play a vital role in public transportation but from a long period of time these SRTUs are in deep
financial crises and the most important reason behind the situation is lack of cost analysis and
cost control techniques. The paper is an attempt to analyse the cost of Rajasthan State Road
Transport Corporation. For the purpose of detailed and in-depth analysis of cost, a number of
tools are applied shrewdly. The study is of utmost importance, as the SRTC under study is under
deep financial distress from a long period of time, in order to get rid of the present condition, the
SRTU needs an immediate rehabilitation which could be attained only through the effective
control over cost.
Abbreviation: CIRT: Central Institute of Road Transport, RSRTC: Rajasthan State Road
Transport Corporation, SRTU : State Road Transport Undertaking
**************************************

COMMERCE EDUCATION IN WEST BENGAL- AN OVERVIEW

Dr. Biswambhar Mandal
Abstract
The phenomenon of Liberalization, Privatization, and Globalization are immensely influencing
the education sector. Naturally the commerce education is also influenced. The role of higher
education in national development is well established. Unfortunately for last few years we are
observing a declining trend in commerce students in the colleges and universities in West
Bengal. Though, modern commerce education cover diversified fields of education and research
in different aspects of business. But it is high time to think that, Commerce students have lack of
practical knowledge. The practical oriented commerce education is the need of the hour. The
output of commerce education should be multidimensional and with full global competitiveness.
In order to attain economic growth of a region or a country, one needs professional economists
and accountants with advanced practical knowledge to enable them evaluate and analyze the
complexities of the business and other financial institutions. It is our observation that, keeping in
view the above facts and demand of the time, prospects of commerce education seems very
bright.
**************************************

MANAGING HOUSEHOLD FINANCE: A SOCIO - ECONOMIC STUDY

Navita Nathani, Associate Professor (Finance), PIMG,
Jaspreet Kaur, Jiwaji University, Gwalior,
Jyoti Jha, Alumni, Prestige Institute of Management, Gwalior
Abstract
Socio- Cultural factors are believed to be the foundation blocks of a society. These explain the
traits which should be followed to form certain beliefs and practices which determine the
individual behaviour. The present study tries to blend these factors with economic attitude,
which can help in knowing the factors determining the household finance management. It
includes the comparison of religious and non-religious households in forming the economic
attitude towards the management of finances. For the purpose, reliability statistics and factors
estimation is done. In order to record the effect of economic attitude on household finance, linear
regression model was used, where results explained that its impacts are significant. MANOVA
results explained the existence of difference in economic attitude between the religious and nonreligious households.
Keywords: Household Finance, Economic Attitude, Religious and Non-Religious Households,
Socio- Cultural Factors.
**************************************

A STUDY ON COMPETENCIES OF FORENSIC ACCOUNTANTS FOR FRAUD

INVESTIGATION -DIMENSIONS AND PERCEPTION OF THE PROFESSIONALS
Dr. R.SARVAMANGALA, Co-ordinator, Dept. of Commerce, Jnanabharathi Campus,
Bangalore University, Bangalore
MR. ASHWATH KUMAR, Research Scholar, Dept. of Commerce, Jnanabharathi Campus,
Bangalore University, Bangalore
Abstract
Corporate frauds and audit failures have increased publics focus on fraud, and the public is
demanding greater vigilance from all parties involved in organizational governance. The failure
of the corporate communication structure has made the financial community realize that there is
a great need for skilled professionals that can identify, expose, and prevent weaknesses in three
key areas: corporate governance, internal controls, and financial statements.
Thus, Forensic accounting skills are becoming increasingly important within a corporate
reporting system that emphasizes its accountability and responsibility to stakeholders.
This paper, therefore, aims at ascertaining the perception of professionals regarding
competencies required by the forensic accountants in fraud investigation.
**************************************

ACCOUNTING EDUCATION IN INDIA: EMERGING ISSUES

Usha Rani, Associate Professor Commerce, G.N. College, Killianwali, Distt: Muktsar
Abstract
In the changing scenario particularly in globalization and liberalization era the business and
industry have to face many challenges like stiff competitions, technological up gradation, cost
reduction, improvement in quality, customer satisfaction and outsourcing technique. But, till
today the accounting education in India has not been upgraded to that level in order to face those
challenges. Rather, it is confined with only a feedback system to the professional institutions like
ICAI, ICWA and ICSI. Hence, the purpose of accounting education has not been fulfilled to
meet the requirements of present business and industry. In this context, the educational
institutions of country like India have realized that there is an urgent need to update the
accounting curriculum in order to the more appropriate for the requirement of the modern
business enterprise.
India being a developing country looking for opting globalization and liberalization policy in
order to uplift economic development. So, the accounting education should be tune up to that
extent in order to face the challenges of liberalization for industry and business. Computerized
accounts and introduction of E-Commerce has changed the role of commerce education as well
as accounting procedures to a great extent. Hence, in future the accounting education curriculum
should be updated in order to face the challenges of information technology. Otherwise the
accounting education in India will remain at the same traditional level since its inception in preindependence era.
Therefore, it is the right time for the researcher of accounting education to come forward and
think over for the up-gradation of accounting education to meet the future improved dimensions
of business and industry of India. . In this paper the emerging issues of accounting education in a
newly emerging market economy like India have been discussed. The study is based on the
secondary data collected from various government publications, professional institutes,
universities and colleges in the country.
**************************************

A STUDY ON EFFECTIVENESS OF CREDIT APPRAISAL SYSTEM FOR WORKING

CAPITAL LOAN
Dr. Rupinder Bir Kaur, Assistant Professor, University Business School, Panjab University,
Chandigarh.
Dr. Vaneeta Aggarwal, Assistant professor, Department of Management Studies, University of
Madras, Chennai.
Abstract
Credit risk is a risk related to non-repayment of the credit obtained by the customer of a bank.
Thus it is necessary to appraise the credibility of the customer in order to mitigate the credit risk.
Proper evaluation of the customer is performed to measures the financial condition and the
ability of the customer to repay the loan in future. Credit appraisal is a technique by which the
banker estimates the soundness of credit proposal made from the point of view of technical and

financial feasibility. Now a days banks are more concentrating on small and medium enterprises
for providing working capital loans. The company, which is the market leader in banking sector
in India, is engaged in all banking services. The project is carried out in the small & medium
enterprises (SME) divisions of the bank. The study was conducted to identify the effectiveness of
credit appraisal system in small & medium enterprise (SME). The researchers studied the Credit
Risk Assessment Model of the Bank and checked the commercial, financial & technical viability
of the project proposed & its funding pattern. The study also observed the movements to reduce
various risk parameters which are broadly categorized into financial risk, business risk, industrial
risk and management risk. Credit risk assessment and appraisal has been studied by taking SME
credit account in sample to observe various parameters and stages in risk assessment and
appraisal process exist in the bank. Customers perceptions also place a very important role in
judging the overall effectiveness of credit appraisal. To find out that the researcher surveyed 110
customers of state bank of India (SBI) to find out their level of satisfaction after subscribing for
loans. The data was collected and then analyzed with the help of statistical tools using correlation
analysis & percentage analysis. From the analysis it was inferred that the organization has strong
credit appraisal system. It was found that the customers are satisfied with their present credit
appraisal process and will recommend it to others to avail credit facility but some of the
customers felt that the bank should fasten the credit assessment process and 40% of the
respondents felt that documents required for processing the loan is heavy.

**************************************

SOME VIEW AND IDEA ON ACCOUNTING EDUCATION AND RESEARCH

Dr. Vibha V. Bhatt, Associate Professor & Head, Department of Economics, Shree P.D.
Malaviya College of Commerce, Gondal Road, Rajkot
Abstract
Accounting is one of those ever changing subjects that derive its meaning from the true sense of
practice and application. The dimensions of accounting have been changing continuously in
response to the changing socio economic need. The boundaries of accounting education have
been widened, so as the cope with the ever growing challenge of the environment to produce
better quality accounting information. Earlier acceptance of the assumptions was reflected in
accounting procedure. But now, the analytical approach has become the basic theme of
accounting as in case of other streams of education. In my paper I give, some view points and
ideas on Accounting Education and Research for reference.
**************************************

ACCOUNTING EDUCATION IN INDIA: EMERGING DIMENSIONS

Dr. Seema Rani, Asst. Prof. Commerce, G.N. College, Killianwali, Distt: Muktsar
Abstract
Accounting education in certain developed countries has undergone a paradigm shift in tune with
the changing global economic environment. The environment of accounting in the various
developing economies has also changed and certain new challenges have emerged. Hence, the
accounting education and profession should not be neglected in this scenario. The Information
Technology and the Globalisation of Markets are the primary factors requiring various changes
in the accounting education. It is therefore important to mention here that world regions and
professions vary in terms of the stage of the development of accounting education and the nature
of their economic systems. In this paper the emerging issues of accounting education in a newly
emerging market economy like India have been discussed. The study is based on the secondary
data collected from various government publications, professional institutes, universities and
colleges in the country
**************************************

DYNAMISM OF ACCOUNTING EDUCATION AND RESEARCH IN INDIAN

ECONOMY
Dr. Ram Milan, Associate Professor, Department of Commerce, University of Lucknow.
Pratibha Yadav, Research Scholar, Department of Commerce, University of Lucknow.
Rahul Ranjan Yadav, Research Scholar, Department of Commerce, University of Lucknow.
Abstract
Accounting research is often conceived as applied research in that the focus of study is
technologies and technical practices used by accounting practitioners in social and organizational
settings. The impact of research in some disciplines is easy for the lay man to comprehend, such
as in medicine where advances in medical procedures, development of new drug & so on, result
in benefits to society. For accounting, this impact is not so easily discernable (Tilt,
2010).Accounting research encompasses a broad range of topics, including laboratory
experiments that attempt to provide an understanding of how decision makers use accounting
information, empirical tests of market reactions to publicly available accounting information,
analytical models illustrating how owners and managers resolve conflicts, empirical research
related to taxation policy, artificial intelligence and expert systems in auditing, and the
development of experimental markets.The current paper seeks to analyse accounting education
and research in current phase of Indian economy. This paper also aims to suggest the various
steps to be taken by the government sector and accounting professionals of India to bloom the
field of accounting in education as well in research.
Keywords: Accounting Research, Taxation policy, Indian Economy.
**************************************

ACCOUNTING EDUCATION IN INDIA AN OVERVIEW

Dr. B. Sandhya Rani, Assistant Professor of Commerce, Department of Commerce, University
College for Women, Koti, Hyderabad, Telangana
Abstract
Accountancy is being taught as one single course along with other courses like economics,
management, law and taxation in B.Com and M.Com. It is only in the case of professional
institutes that the accountancy specialization is being offered in the various courses of study at
the professional level. There is a need for purposeful relationship between universities and
statutory professional Institutes like ICAI, ICSI and ICA-CMA. Hence, it is of great importance
to bring the changes and restructure the accounting education course curriculum as per the
emerging needs of the Industry and Commerce. At the same time, it is also significant to study
the problems and the actual needs of business and industry. It is also desirable to forge linkages
between the academia and industry in order to strengthen the accounting education in the
country. There may be some barriers in implementing these changes but it would be possible to
overcome these barriers with the concerted efforts of both industry and accounting academia.
As far as teaching aids and methodology is concerned, till date accounting education has been
imparted through class room lectures and the numerical problems. To make the teaching of
accounting more effective, it is better if the latest teaching aids like projectors, case studies,
project and market surveys, role playing, group discussion and audio-video techniques are
followed for teaching of accounting in various colleges and universities in the country.
The present study is highlights the need of commerce and accounting education in India; to
present the growth of commerce and accounting education in Indian educational and professional
institutions and exhibits the global coordination of accounting education.

**************************************

INDIAN VIEW OF FORENSIC ACCOUNTING

Prof. H. R. Padia I/C Principal Shri A. K. Doshi Mahila College, Jamnagar (Gujarat)
Prof. Daxaben C. Trivedi , Asso. Professor Head, Business Management Shri A. K. Doshi
Mahila College, Jamnagar (Gujarat)
Prof. Somnath K. Joshi Asso. Professor Shri A. K. Doshi Mahila College, Jamnagar (Gujarat)
Abstract
Forensic accounting is used for fraud examination and fraud examination covers; fraud
allegations from inception to disposition including obtaining evidence, interviewing, writing
reports, and testifying. In the current scenario the emphasis is on the forensic accounting as the
public deals with financial collapses, increased white collar crime and growing occurrences of
occupational fraud. Forensic accounting provides investigative functions and litigation support
services to understand the depth and width of the financial scams happening in any economy.
The objective of the study is to understand the significance of forensic accounting in the wake of

recent financial scams in India and to highlight the problems of forensic accounting in India.
This paper is conceptual in nature and information is collected from the secondary sources. In
India due to the complex and traditional judicial system, political compulsion etc., forensic
accountants are facing the challenge of gathering information against big shots that is
admissible in the court of law. It has been suggested that appointment of forensic accountants
should be made mandatory in public sector and large scale company.
Key words: Forensic Accounting, Financial Scams, Investigative Functions.

**************************************

GREECE SOVEREIGN DEBT CRISIS ROOTS & REMEDIES

Dr.A.K.J.Mansuri, Associate Professor & HOD, G.S.College of Commerce, Wardha
(Maharashtra)
Prof.Atul Firke, Assistant Professor, G.S. College of Commerce, Wardha (Maharashtra)
Abstract
Sovereign debt crisis has now become one of the biggest concerns for world economy. The
economists around the world are nowadays concentrating over the issue of default by nations as
its impacts are extremely wide spread. Because of globalization of trade all the countries are
susceptible to such crisis and, hence, crisis in one nation is affecting all other nations economies
significantly.
In last few years the world economy has witnessed subprime crisis in US, Cyprus bankruptcy,
China bubble and Greece default. All these default crisis have some common points and
mistakes which the respective governments made. In this research paper the researcher made an
attempt to analyze the current Greece crisis and understand it in detail. Also the researcher has
made an attempt to suggest precautions and remedial measures to overcome such crisis in future
and make it simple & understandable to all.
Key Words: World economy, Globalization, Sovereign debt, Default, Crisis.
**************************************

Introduction to International Financial Reporting Standards: The way ahead for India
Dr. Shubhadeep Chakraborty
Dr. R.U. Singh
Dr. Shashank Bhushan Lall

Abstract
International Financial Reporting Standards (IFRS) is a set of accounting standards, developed
by the International Accounting Standards Board (IASB) which are becoming the global
standards for the preparation of public company financial statements. In other words, it is a set of
international accounting standards stating how particular types of transactions and other events

should be reported in financial statements. IFRS are sometimes confused with International
Accounting Standards (IAS), which are the older standards which are replaced by IFRS. (IAS
were issued from 1973 to 2000) The goal IFRS is to make international comparisons as easy as
possible. This is difficult because, to a large extent, each country has its own set of rules. For
example, U.S. GAAP are different from Indian GAAP. Synchronizing accounting standards
across the globe is an ongoing process in the international accounting community.
The "coming of age" of IFRS is no yawn: in the past, investors had to look at financials produced
by companies worldwide, particularly outside the major industrialized countries with some or
much skepticism, and question the veracity of those numbers. Could a potential stakeholder
examine the financial results of a major clothing manufacturer in the United States or Canada,
for instance, and compare those results with figures from competitors in China, Thailand or
Brazil to decide which organization truly represents a better investment? The answer to this is:
NO! Many investors simply decided that only the most sophisticated analysts around the world
were capable of making those comparisons. Before IFRS, true transparency in numbers among
companies worldwide simply did not exist. As a result, cross-border investments were curtailed,
as was the growth of the overall global economy, particularly in emerging-market countries. In
the past, investors generally chose to invest their money in companies and countries where they
would be most comfortable with truthfulness in accounting practices and systems and the signoff of accounting firms standing behind those numbers. With the implementation of IFRS, this is
set to change.
IFRS are designed as a common global language for business affairs so that company accounts
are understandable and comparable across international boundaries. They are a consequence of
growing international shareholding and trade and are particularly important for companies that
have dealings in several countries. They are progressively replacing different national accounting
standards.
**************************************

Changes in Aggregate Energy in Manufacturing Industries in India:

A Decomposition Analysis
Suranjana Talukdar
Abstract
Energy is one of the factors of producing output. Industries, particularly the manufacturing
sector, is one of the energy intensive sector in the Indian economy, the major consumer of
conventional energy. Energy is a proxy measure of fuel. Recently energy efficiency in Indian
manufacturing industries has become a serious problem. One of the proxies to measure energy
efficiency is Energy Intensity. In manufacturing sector, energy consumption per unit of output
produced is the indicator of energy intensity level. Energy intensity plays a significant role to
study the changes in the manufacturing output of any economy over time. Since last 2 decades,
one of the significant changes in energy is the reduction in energy efficiency, hence, it is
necessary to reduce energy intensity of output. We have tried to show the pattern of energy
intensity at both aggregate and sectoral level. In this paper, the decomposition method (LMDI-

Method) has been carried out to examine the factors responsible to changes in aggregate energy
intensity. Based on this decomposition technique, we have estimated the results by using Indian
manufacturing industry data both at aggregate and individual level (2-digit NIC code) during
1998/99-2012/13. The estimates suggest that the declining aggregate energy intensity is an
outcome of an increase in structural change associated with the decrease in sectoral energy
intensity.
Keywords: Aggregate Energy Intensity, Decomposition Analysis.
**************************************

Concept of Accounting Education and Research

Dr. Mohan Lal Agdayemawer, Associate Professor, Department of Business Administration,
University of Rajasthan, Jaipur.
Abstract
We should allow the stakeholders in the marketplace to help decide what the universitys
primary mission should be. I look to the marketplace not because it is always right but because
we live in a time of scarce resources and the universities are faced with thinking about programs
from the perspective of scarce resources. The consumers of the universitys output and
universitys sponsors should have a say in whether education is the primary mission of the
educational community. In the end, that will be in the universitys interests because they should
not be at odds with the consumers of education and with the sources of their funds. The
universitys primary mission is a question of the most productive use of a valuable national asset.
The way that asset is employed directly affects our economic competitiveness. It should be faced
squarely by all affected parties. Professors have a finite number of productive hours. How they
are to be allocated between teaching and research? Is research going to receive less of the
academic dollar because teaching is going to receive more? Recently, Caspa Harris, (Executive
Vice President of the National Association of college and University Business Officers), reported
to the Governmental Accounting Standards Advisory Council that institutional effectiveness and
productivity will come under increasing scrutiny as part of the movement to evaluate the return
on investment in higher education (Harris, 1990). He went on to say, scholarship, research, and
creativity for their own sake have never enjoyed great favour with the public or its policy
makers. Federal and state government commitments for supporting higher education have been
tied to the achievement of national goals. As congress, state governments, and accreditation
agencies recommend funding priorities for higher education over the next decade there is every
reason to anticipate that they will demand disclosure of the service efforts accomplishments
attained by public and private institutions seeking funds.
Keywords- Stakeholder, Resources, University, Community, Consumer, Standards.
**************************************

Juvenile Delinquency- Is an Isolated Issue in India?

Radhagobinda Basak, Assistant. Professor, Dept. of Commerce, Maharani Kasiswari College,

Affiliated to the University of Calcutta, Kolkata, and West Bengal.
Abstract
Crime tendency among the Indian children is rising with the passage of time. At the same time,
crime against children is also increasing. It has been observed that these two are significantly
correlated. Some socio-economic factors act as the bridge between these two problems. School
dropout and poor financial condition are some of the examples in this respect. All these issues
are inter-related deeply and they move in a circular way. In this present study, it has been tried
an attempt has been made to show that juvenile delinquency is not an independent issue.
Children are exploited in different ways at first. As a result of all those exploitation, good
qualities already in them dont get the chance to bloom. Unfortunately, some of them become
offenders.
Keywords: Dropout; Work Participation Rate; Child Labour; Crime; Juvenile Delinquency.
**************************************

CONVERSION OF INDIAN ACCOUNTING STANDARD WITH INTERNATIONAL

FINANCIAL REPORTING STANDARD
Dr. Mahesh S. Trivedi, Prin. M. C. Shah College of Commerce, Navgujarat Campus, Ashram
Road, Ahmedabad.
Abstract
Convergence of accounting standards across the globe is gaining momentum. Most standardsetting bodies have acknowledged that the ultimate goal of convergence is to have a single and
globally accepted financial reporting system. The paper deals with necessity of convergence,
approach, significance of convergence, format of converged Accounting. The Convergence
Report goes on to state that there are immense benefits to the economy, investors, industry and
accounting professionals. This will also benefit the Indian market by standardizing the treatment
of various accounting norms across Indian companies, making their reported profitability more
comparable with those of their global peers. The worldwide uniformity will create many
opportunities for companies as well as accounting firms. We can say that IFRS is providing
standard level accounting.

**************************************

The Scope of Human Resource Accounting for Effective Management of Organizational

Resources
Dr. JALAJA K.R, Assistant Professor (Sr), Department of Commerce, Bangalore University,
P.G. Centre, Kolar.
Ms. BHARGAVI. H, Research Scholar, Department of Commerce, Bangalore University,
Bangalore.
Abstract
The study explores and examines the scope of Human Resource Accounting towards effective
management of Human Resources in the organization. As a phenomenon HRA attempts to
valuate human resources in the organization, while its implemented in several global
organizations some organizations have found the process beneficial and on other hand some have
given away the concept of HRA in their accounting procedures. This research attempts to find a
suitable arrangement to benefit organizations in using this methodology.
Keywords: Human Resource Accounting, Human Resources
**************************************

With Best Compliments from

Tagore Education &

Welfare Society, Moga
With Best Compliments from

Khalsa College of Women

Ludhiana

With Best Compliments from

Govind National College

Narangwal, Ludhiana
With Best Compliments from

Multani Mal Modi College

Patiala

With Best Compliments from

DAV College
Abohar
With Best Compliments from

Khalsa College
Hoshiarpur

With Best Compliments from

Dashmesh Girls College

Mukstar

With Best Compliments from

Bajaj College
Ludhiana

With Best Compliments from

Devki Devi Jain

Memorial College for Women
Ludhiana

With Best Compliments from

Ramgarhia Girls College

Ludhiana

With Best Compliments from

Guru Nanak Girls College

Model Town, Ludhiana

With Best Compliments from

MTSM College
Ludhiana

With Best Compliments from

Shree Atam Vallabh Jain

College, Ludhiana

With Best Compliments from

Dashmesh Girls College

Chak Alla Baksh,
Mukerian

With Best Compliments from

DAV College
Chandigarh

With Best Compliments from

B.A.M. Khalsa College

Hoshiarpur

With Best Compliments from

RSD College
Ferozepur City

With Best Compliments from

Guru Nanak College

Moga

With Best Compliments from

JCDAV College
Hoshiarpur

With Best Compliments from

MCM DAV College

For Women, Chandigarh

With Best Compliments from

Kamla Lothia SD College

Ludhiana

With Best Compliments from

Chd. Educational Trust

Gharuan

With Best Compliments from

Sant Baba Bhag Singh

Memorial Girls College
Sukhanand, Moga

With Best Compliments from

Arya College
Ludhiana

With Best Compliments from

GHG Khalsa College

Gurusar Sudhar
Ludhiana

With Best Compliments from

Apeejay College of
Fine Arts
Jalandhar

With Best Compliments from

Sri Guru Nanak Dev

Educational Trust
Hoshiarpur

With Best Compliments from

Dev Samaj
College For Women
Sector-45, Chandigarh

With Best Compliments from

Dev Samaj
College of Education
Sector-36, Chandigarh

With Best Compliments from

Guru Nanak College

Ludhiana

With Best Compliments from

Khalsa College
Patiala

With Best Compliments from

ISDC Services Pvt. Ltd.

With Best Compliments from

Sri Guru Gobind Singh College

Chandigarh