The Chartered Accountant

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1054 DECEMBER 2008 THE CHARTERED ACCOUNTANT Icai news Revised Resolution passed by the Council under Regulation 190A (effective from 9 th August, 2008) AS A PART OF AND IN CONTINUATION OF THE EXISTING RESOLUTION [UNDER REGULATION 190A, WHICH APPEARS AS APPENDIX NO. (9) TO THE CHARTERED ACCOUNTANTS REGULATIONS 1988 (2002 EDITION)] IT IS FURTHER RESOLVED that the following clause (14) is added in clause (A) of Appendix No. (9) to The Chartered Accountants Regulations, 1988 as under: - Permission granted generally (A) Members of the Institute in practice be generally permitted to engage in the following categories of occupations, for which no specific permission from the Council would be necessary in individual cases: - 14. Owning agricultural land and carrying out agricultural activity. IT IS ALSO RESOLVED that the following clause (5) appearing under the heading ‘Permission to be granted specifically’ in clause (B) of Appendix No. (9) to The Chartered Accountants Regulations, 1988 be deleted. 5. Interest in agricultural and allied activities carried on with the help, if required of hired labour. Training the Trainers Programme on IFRS We are pleased to inform that the Institute of Chartered Accountants of India is planning to develop a pool of trainers for training the members on International Financial Reporting Standards. The Continuing Professional Education Committee of the Institute invites Chartered Accountants with skill sets in International Financial Reporting Standards (IFRS) for Training the Trainers Programme. These programmes would be held at New Delhi, Mumbai, Kolkata, Kanpur and Bangalore. Applicants with technical expertise in existing Accounting Standards would be given preference. Members selected for the training programme will be put on a training module to enable them to equip themselves in training other members on IFRS. Members who are interested and who have an aptitude for training on IFRS need to apply to the Secretary, Continuing Professional Development Committee at the following address: The Secretary, CPE Committee, The Institute of Chartered Accountants of India ICAI Bhawan, Post Box Number 7100, Indraprastha Marg, New Delhi 110 002 E-mail id: seemag@icai.org, Fax - +91 11 3011 0583 Telephone: +91 11 3011 0451(D), 3989 3989 (EPABX) Ext. 451, Members who have already applied earlier this year for the said programme, need not apply again. Chairman Continuing Professional Education Committee FOR THE ATTTENTION OF ICAI MEMBERS ABROAD The ICAI members residing abroad, who are being sent the Institute’s The Chartered Accountant journal by Air Mail and Sea Mail of Indian Post, are hereby informed that Indian postal authorities have steeply increased the postal charges from Rs. 90 per copy to Rs. 175 for Air Mail and from Rs. 13 per copy to Rs. 90 for Sea Mail w.e.f 01.08.2008. The Executive Committee of the Institute, taking note of the steep hike in foreign postal rates and the resultant expenses to be borne by the ICAI, has decided to charge the actual (revised) postal rates from ALL overseas members who desire to get the copy of their journal at their foreign addresses through Air Mail/Sea Mail facility as follows: Air Mail – Rs. 2100 per annum Sea Mail – Rs. 1100 per annum In view of the above, the overseas members who wish to receive the journal (December 2008 onwards) at their foreign addresses, are requested to remit the sum equal to the actual revised air mail, sea mail charges payable, as the case may be, to their respective regional offices on an urgent basis. The overseas members who have already submitted airmail charges at the old rates of Rs. 900 per annum are requested to remit the balance amount as per the new postal rates (Rs.2100 per annum) for the remaining months (December 2008 onwards) of their respective existing air mail periods. In case, the overseas members don’t remit the required postal charges, the journal will be dispatched at their Indian addresses as per ICAI records free of cost. “You see, in life, lots of people know what to do, but few people actually do what they know. Knowing is not enough! You must take action”
Icai news NEW PUBLICATIONS From the Committee on Insurance & Pension Principles and Practice of Life Insurance Significant features of the book are as follows: Pages: 244+8 (initial pages) Price: Rs. 250/- (with CD) Postal Charges : Courier: NCR : Rs. 7/- and Other cities: Rs. 23/- Registered Post : Rs. 48/-; Unregistered Parcel: Rs. 31/- Principles and Practice of General Insurance Significant features of the book are as follows: Pages: 325+8 (initial pages) Price: Rs. 300/- (with CD) Risk Management and Reinsurance Pages: 250+8 (initial pages) Price: Rs. 250/- (with CD) Postal Chargesm : Courier: NCR : Rs. 8/-, Other cities: Rs. 32/- Registered Post : Rs. 57/-; Unregistered Parcel: Rs. 40/- Significant features of the book are as follows: Postal Charges: Courier: NCR: Rs. 7/-, and Other cities: Rs. 23/- Registered Post: Rs. 48/-, Unregistered Parcel: Rs. 31/- Business Strategic Planning and Information Technology for Insurance Sector Pages: 411+8 (initial pages) Price: Rs. 325/- (with CD) l Explain the basic concepts of Life Insurance Business, various types of insurance products available in the market. l Process of Claim Settlement and lapsation and revival of life insurance policies l Define the actuarial principles and techniques for ascertaining the liability of a life insurer. l The book may also be referred as reference material to the Module-1 of the DIRM Course of ICAI. l Introduction to General Insurance Business, General Insurance Contract Design and various legislations which governs the general insurance business in India. l Various types of general insurance business and introduction to general insurance products available in the market. l Regulations and law governing the Accounting and Investment of insurance companies. l The book may also be referred as reference material to the Module-2 of the DIRM Course of ICAI. l Introduction to risk management, essential of risk management, measuring severity and frequency of risk and the process of risk management. l Define the strategic risk management and corporate risk management with case studies. l Introduction of reinsurance and reinsurance theory, regulations and law governing the reinsurance business l Reinsurance administration, accounting, financials and reinsurance practice. l The book may also be referred as reference material to the Module-3 of the DIRM Course of ICAI. Significant features of the book are as follows: l Classify insurance business, functions and general introduction to various Law and Regulations applicable on insurance sector. l Management of assets-liability of insurance companies l BPO and insurance companies l System development process including system analysis and design, implementation and operation. l Various technique of data storage and processing methods and information system controls l The book may also be referred as reference material to the Module-4 of the DIRM Course of ICAI. Postal Charges: Courier: NCR: Rs. 9/-, and Other cities: Rs. 43/- Registered Post: Rs. 66/-, Unregistered Parcel: Rs. 49/ Ordering Information for all publications: The publication(s) can be obtained from the sale counter at the Regional offices or at the Head Office of the Institute. Copies can also be obtained by post. To order by post, send a demand draft for the amount of the price of the publication(s) (add the postal charges indicated for the desired mode of delivery) in favour of ‘The Secretary, The Institute of Chartered Accountants of India’ payable at New Delhi to the Postal Sales Department, The Institute of Chartered of India, ICAI Bhawan, A-94/4, Sector-58, Noida – 201 301 (U.P.) “Be nice to people on your way up because you meet them on your way down” THE CHARTERED ACCOUNTANT 1055 DECEMBER 2008
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Volume 57 No. 06 December 2008 THE
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EDITORIAL BOARD EDITOR-IN-CHIEF CA.
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DECEMBER 2008 946 THE CHARTERED ACC
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own residential Centre of Excellenc
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READERS WRITE DECEMBER 2008 950 THE
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ICAI President CA. Ved Jain address
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956 DECEMBER 2008 THE CHARTERED ACC
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ACCOUNTING covered by forward excha
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profit and loss account and the bal
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consonance with the Standards presc
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When the power to make rules is lim
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A. Facts of the Case 1. A private l
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Now if we apply these probability c
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Residential Status DECEMBER 2008 98
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CUSTOMS I. Circulars 1. Circular No
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Appellant/assessee is a multi-state
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further into the future, in conside
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Introduction 1. The purpose of this
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DECEMBER 2008 1110 THE CHARTERED AC
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Introduction 1. The purpose of this
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for which controls are being assess
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erised applications or over the ove
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The Chartered Accountant

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