May-2015

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The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) www.icmai.in Research Bulletin, Vol. 41, No. II (ISSN 2230 9241) Call for Research Papers/Articles We invite you to contribute research paper/article for “Research Bulletin”, a peer-reviewed Quarterly Journal of The Institute of Cost Accountants of India. The aim of this bulletin is to share innovative achievements and practical experiences from diverse domains of management, from researchers, practitioners, academicians and professionals. This bulletin is dedicated to publish high quality research papers providing meaningful insights into the management content both in Indian as well as global context. Research Bulletin is a Quarterly Publication of the Institute. Hence, the next issue will be published in July, 2015. Guidelines to submit full Paper ♦ Soft Copy of the full paper should be submitted in double space, 12 font size, Times New Roman, keeping a margin of 1 inch in four sides, MS Word 2003. ♦ Each paper should be preferably within 5000 words including all. ♦ An abstract of not more than 150 words should be attached. ♦ The cover page should contain the title of the paper, author’s name, designation, official address, contact phone numbers, e-mail address. Papers are invited on the following topics, but not limited to: ♦ Environmental Accounting & Audit ♦ Infrastructure development & Management ♦ Community Audit ♦ Social Entrepreneurship ♦ Financial Inclusion ♦ National Food Security ♦ Innovation Economy ♦ Skill Development for Professionals ♦ Performance Management Papers must be received within1 st June, 2015 in the following email id: research.bulletin@icmai.in OBITUARY The Institute and its members deeply mourn the demise of CMA G R Kulkarni, a member of the Institute, who left for his heavenly abode on April 3, 2015. He had worked as senior executive in number of organizations like – Metal Box, Voltas etc. until 1984, the year he entered practice. He was also chairman of WIRC (1981-82) and had written a number of books. May his family have the courage and strength to overcome the loss. 84 the MANAGEMENT ACCOUNTANT MAY 2015 www.icmai.in
National Seminar on "Capital Markets in India: Governance & Reforms" T he Institute of Cost Accountants of India, a statutory body under an Act of Parliament and the National Institute of Securities Market (NISM), an educational initiative of SEBI jointly organized a National Seminar on "Capital Markets in India: Governance & Reforms” on April 28, 2015 at Rotary Sadan, Kolkata with the determination to put a solemn thought over governance and reforms development of the capital markets in India. The event was Co-sponsored and participated by CSE, SIDBI, CRISIL, ICRA, CISI and eminent professors and researchers of this field. We were privileged to have some eminent delegates across the globe. The keynote was delivered by Shri Sandip Ghose, Director, NISM who did not possess a second thought in mentioning the legendary character Yudhishtir for the essence of administration pulling an implicit ethical standard that had defined his rigidity. Moreover he reminded us that ‘zero’ though invented by us was re- distributed by others in Europe, which he thinks would not have happened, had we used it for technology instead of general science application. Distinguished personality Shri S. Raman, Whole Time Member of SEBI being the Chief Guest of the inaugural session in his address declared the issues of Non-Compliance and Corporate Governance. In the conclusion he reminded that for a long term gain, good business comes from good behaviour. CMA N. K. Bhola, RD, Eastern Region, MCA, rendered the special address. The same was deliberated by Shri S. Ramakrishnan, Regional Head, Kolkata, SIDBI who strictly advised the investors not to depend solely upon institutional findings. He also said SEBI is providing a platform for the SMEs and suggested the SME units to tap funds from the capital market. CMA Dr. Asish K. Bhattacharya, Advisor, ICAI-CMA & Professor, IICA in his inaugural address firmly stated that Corporate Governance creates the space for transparency in the Capital Market and this is the reason why the Institute should collaborate with NISM for a dual attachment process on Securities Market. The eminent dignitaries feel that one needs to have a specialized knowledge on Corporate Governance and there is no denying that Truth and Integrity will always remain untouched irrespective with the passage of time. The welcome address was given by CMA Dr. Debaprosanna Nandy, Director, Research & Journal of the Institute. Further, quarterly publication of ICAI Research Bulletin, Vol.41, No. I, April, 2015 issue got released during the inaugural session of the event. In the panel discussion-I– Governance & Growth, Shri N.Hariharan, CGM, SEBI, emphasised over the genuine importance of the views raised by CMA Dr. Bhattacharya and stated the few amendments made in Companies Act 2013. Shri B.B. Chatterjee, Executive VP, ITC Ltd made a serious note that the government has to be an enabler and good governance could provide the desired result in the desired approach. Though the panel discussions proved to be worthy, a relevant judgement was given by Shri P.K Choudhury, former Chairman, ICRA on the demerits of corporate governance and fetches the dark sides of this system that would mount the hill tops without the stones. To encircle the whole seminar with the duplex communication, Kevin Moore, Global Business Development Director, CISI, UK held a decision making session on “Integrity at Work” based on simple principles like Honesty, Openness, Transparency and Fairness for a good amount of time that too with a serious voting ballot. In the second panel discussion, on market reforms, Shri R.N Kar, Regional Director, RBI, Kolkata, Shri B. Madhav Reddy, MD & CEO, CSE, CMA Dr. Sunder Ram Korivi, Dean, NISM, Shri Tamal Bandopadhyay, Consulting Editor, MINT discussed on various market reforms, debt and capital market and created an impact all over the ones who carry good ear and aspires to give knockout punch to the capital market. The seminar ended with the summing up and valedictory address by CMA Dr. Latha Chari, Professor, NISM and vote of thanks by CMA Dr. Sumita Chakraborty, Jt. Director, Research of the Institute. www.icmai.in MAY 2015 the MANAGEMENT ACCOUNTANT 85
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FROM THE EDITOR’S DESK Greetings!
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PRESIDENT’S COMMUNIQUE Certificat
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