The Chartered Accountant

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1. ACCOUNTING Behavioral effects of nonfinancial performance measures: The role of procedural fairness by Chong M. Lau & Antony Moser. Behavioral Research in Accounting, Vol.20/2, 2008, pp.55-71. Effects of moral reasoning on Financial Reporting decisions in a post Sarbanes-Oxlely Environment by James J. Maroney & Roselie E. Mcdevitt. Behavioral Research in Accounting, Vol.20/2, 2008, pp.89-110. IFAC : Bringing balance to the profession by Anuja Ravendran. Accountants Today, Oct. 2008, pp.8-10. IFRS implementation: Auditors training by Uday chitale & Murtuza Vajihi. BCAJ, Oct. 2008, pp.67+70. Lean Accounting: What’s it all about? by Frances A. Kenndey & Peter C. Brewer. The Management Accountant, Oct. 2008, pp.745-749. 2. AUDITING Empirical tests of Audit Budget Dynamics by Michael L. Ettredge etc. Behavioral Research in Accounting, Vol.20/2, 2008, pp.1-18. Exploring benford’s law – digital analysis with computer assisted Audit tools (CAATs) by Deepjee Singhal & Manish Pipalia. BCAJ, Oct. 2008, pp.63- 66. Social Audit: An overview of trends & future possibilities by Aminul Islam. The Management Accountant, Oct. 2008, pp. 781-784. 3. ECONOMICS Lock-in periods: Analysis & anomalies by Ajay chaydgart & Devendra Khatri. SEBI & Corporate Laws, Oct. REFERENCE ACCOUNTANT’S BROWSER “PROFESSIONAL NEWS & VIEWS PUBLISHED ELSEWHERE” Index of some useful articles taken from Periodicals/Newspapers received during October- November 2008 for the reference of Faculty/Students & Members of the Institute. 20-26, 2008, pp. 53-60. Transfer pricing measures & emerging developing economies by Michael Kobetsky. Asia-Pacific Tax Bulletin, Sep./Oct. 2008, pp.363-377. 4. INVESTMENT Economics of Mergers & Acquisitions: A study of reliance Industries limited & reliance petroleum limited by D. Raghunatha Reddy & R.N. Arun. The Management Accountant, Oct. 2008, pp. 794-801. Empirical analysis of Stock price volume relationship in Indian stock market by Sarika Mahajan & Balwinder Singh. Vision, July-Sep. 2008, pp.1-14. De-Merger: The growing practice in India by Mayank Chandrakar. SEBI & Corporate Laws, Oct. 20-26, 2008, pp.45-52. 5. LAW Appointment of Arbitrators: Scope & ambit of section 11 (6) of Arbitration & Conciliation Act by V. Gopalan. Company Law Journal, Vol.4, 2008, pp.1-10. Disclosure of Director’s Interest by PR. Raamaanathan. SEBI & Corporate Laws, Oct. 20-26, 2008, pp.61-66. 6. MANAGEMENT B-Schools survey – 2008. Business India, Oct. 19, 2008, pp.59-168. Corporate responsibility, governance & accountability: From self-regulation to co-regulation by Laura Albareda. Corporate Governance, Vol. 8/4, 2008, pp.430-439. Future of Finance by Stathis Gould & Martin Fahy. The Management Ac- countant, Oct. 2008, pp. 750-752. Exploring the governance agenda of corporate responsibility: Complex Accountability & power in global governance: Issues for global business by Robert O. Keohane. Corporate Governance, Vol. 8/4, 2008, pp.361-367. 7. TAXATION & FINANCE Consumption taxation of supplies of financial services in the Asia-Pacific Region by Lee Burns. Asia-Pacific Tax Bulletin, Sep./ Oct. 2008, pp. 352- 362. Germany’s new Transfer Pricing rules on transfers of business functions abroad by Peter H. Dehnen & Rosemarie Rhines. Bulletin for International Taxation, Nov. 2008, pp.508-512. Income-tax scrutiny norms by CA. Rajkumar S. Adukia. ACAJ, Sep. 2008, pp.381-384. Indirect taxation on manufacturing concerns by Aditya Bhattacharya & Tanushree pande. Asia-Pacific Tax Bulletin, Sep./ Oct. 2008, pp. 378- 382. Need for equal treatment of likes in tax administration by K. Srinivasan. Corporate Law Adviser, Oct. (ist), 2008, pp.47-52. Penal provisions under the Finance Act, 1994 relating to Service Tax by K.P. Sridhara Raman. Service Tax Journal, Oct. (ist), 2008, pp.6-9. Vat treatment of financial Services: Assessment & Policy proposal for developing countries by Pierre-Pascal Gendron. Bulletin for International Taxation, Nov. 2008, pp. 494-507.q Full Texts of the above articles are available with the Central Council Library, ICAI, which can be referred on all working days. For further inquiries please contact on 011-23370154 or by e-mail at library@icai.org THE CHARTERED ACCOUNTANT 1037 DECEMBER 2008
1. What are my professional objectives? What do I really want to accomplish in my life-time? 1038 NOVEMBER DECEMBER 2008 THE CHARTERED ACCOUNTANT NOSTALGIA A Peep into the Past Continuing with our series of contents having nostalgic value, reproduced here-in-below is ‘A Self Quiz’ published in the September 1965 issue of The Chartered Accountant, which holds merit even in the current scenario, for the information of the members. FOR A PRACTISING CHARTERED ACCOUNTANT A SELF QUIZ These questions are deliberately thought-provoking. Answers to some of these will provide a searching analysis of the non-technical qualities required for a successful practice - Have I ever defined my objectives and committed them to writing? Have I planned any objectives for my employees? Will my employees help me to attain my real proposes? 2. Am I willing to work at becoming a successful executive, or is it just wishful thinking? Will I sacrifice short-run satisfaction to accomplish my long range objectives? Am I willing to live the integrity I profess? Am I dedicated to the goals that I have set for myself and my firm? 3. Have I set worthy objectives for my associates and my employees? Am I sufficiently clear in my own mind as to the functions of my practice? Have I allowed my associates and employees to share in establishing the firm’s goals, or have I imposed my own will on them? Can my employee have faith in me and in our relationship? 4. Have I set sufficiently high standards of workmanship? Does my staff have the reputation for being aggressive, hard-hitting and maintaining high standards of performance? Can and does my staff take pride in being members of the firm? Do I insist on performance that gives everyone the feeling that we are moving ahead and getting things done? Do I frustrate my staff with indecision, delay, doubts and lack of faith in them? Do I have confidence in the ability and willingness of my staff to do a good job? 5. Do I try to develop the creative potential of each individual in the firm? Do I want to handle all the problems myself, or am I willing to share the management function with my subordinates? Am I willing to delegate as much as I can, or do I hold on to certain phases of my job to prove that I am Indispensable? Do I try to force my own decisions on my staff or do I let them share in decision-making? The above Shield was awarded to M/s Tata Iron & Steel Co. Ltd for the year 1958-59 for the Best Presented Accounts at the Annual Meeting held in September 1960.
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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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own legal counsel as to whether a c
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cial statements (in other cases tho
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strategies, and the related busines
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Entities A35. In the case of audits
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with governance is not adequate and
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in the preparation of financial sta
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asis but, in the auditor’s judgme
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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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