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Dear Colleagues,
My fellow friends must have seen the
hiccups of Indian Premiere League. Besides entertainment the
lesson given at the end was encouraging enough to coin a
slogan saying ‘BRANDING is OK but ultimately TALENT will
succeed’ The Rajasthan Royals have proved it with passion
and hard work. So in addition to try for continuous
improvement in Brand Image we must rely on our inherent
skills to reach at the crest.
The election mood is picking up in the
country as well as at CWA Chapters with major Chapters went
for electing their respective Managing Committees. During
the month gone the members at Chandigarh, Patiala, Lucknow,
Jaipur & Kota have elected their new teams for the upcoming
year. I am sure that new leaders shall bring new thoughts
and ensure the fulfillment of ongoing action. I congratulate
and wish them great success with an assurance of providing
all possible help from NIRC.
Among programmes conducted during the
month by various sections of the Institute, one of the
important events was a seminar on ‘International Financial
Reporting System (IFRS) organized by NIRC’. Sh.VDV Prasad
Rao, former member Finance, Airport Authority was the Chief
Guest on the occasion and Sh.Balwinder Singh, CCM & Member
Accounting Standard Board was key speaker. The programme was
of immense significance to members, as every business entity
today is ready to embark on the global ship.
The efforts to improve brand image of the
Institute are continuing at every level. Our Central Office
under the leadership of H’ble President Sh. Chandra Wadhwa
conducted a Practitioners Meet at Delhi primarily to
appraise the practicing members on ways and means being
followed by the Institute and to get feed back / innovative
ideas to sharpen the efforts on this matter. About 50
practicing members attended the meet & shared their
expertise, experiences & also highlighted various problems
along with valuable suggestions for improvement.
Members from our Kanpur & Allahabad
Chapters led by Sh. R.C. Katiyar & Sh Anwar respectively
also remained busy in organizing Seminars on VAT involving
representative from various organizations including Deptt of
Central Excise & Custom. For details please refer activity
report section of this publication.
My participation in an expert group
(constituted by Ministry of corporate affairs ) meeting at
Delhi on 23rd May 08 was really a valuable experience.
Representatives from various organizations shared their
views which were duly appreciated by Sh B.B. Goyal Advisor
(Cost) Ministry of Corporate Affairs, Chairman Expert Group
& his team. I am sure suggestion given by members present
must add considerable value to the cause for which expert
group is formed.
I strongly support the statutory need for
maintenance & audit of Cost Records by all the companies
having turnover above certain limit . In addition we can
publicize the benefits which Corporate / Industrial Sector
can get with implementation of Costing Records as per
prescribed Cost Accounting Record Rules, and Cost Accounting
Standards and disseminate the reasons how it can add value
to their enterprise.
The recent fuel price hike has triggered
another war in corporate world to contain its impact on
their bottom line. Already, the Video Conference Systems
have been activated to reduce travelling cost. The talk is
going on to spread mass transportation systems like mono
rail, metro, large buses as a means of city transportation.
I conclude this communiqué by humbly requesting you all to
spare time from tight schedules & suggest ways & means to
counter inflatory impact.
With Warm Personal Regards & Jai Hind!
(Rakesh Bhalla)
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