Now, a revised steering note on accounting of political parties


The CA Institute has proposed a revised guidance notice on ‘the accounting of political parties, raising the bar at the fine of monetary disclosures. Prafulla P. Chhajed, president of the Institute of Chartered Accountants of India (ICAI), advised BusinessLine that the CA Institute has popped out with an exposure draft of the new steering notice, and the revised version is more “elaborate and clean.” He stated the publicity draft includes the provisions of diverse Acts applicable to political parties and guidelines issued by the Election Commission. Chhajed additionally said qualitative characteristics of the economic statements have been explained in the note.

It has also spelled out accounting treatment for electoral bonds, a new supply of funding. For the first time, political events will now be required to reveal the nature and sort of services-in-type acquired through them. However, they will now not be required to measure the equal. Ashok Haldia, former secretary of the CA Institute, said the requirement to reveal the character and kind of offerings-in-kind is welcome. However, a reasonable estimate of the fee should additionally be given. Aseem Chawla, managing partner of ASC Legal, a law company, stated that recognizing receipt of offerings and different non-financial attention for accounting functions is a step in the proper direction. It will beautify transparency, governance, and public duty. “What needs to be seen is adherence to such well-timed accounting steering in spirit and the technique adopted to translate the value of such offerings for e-book-preserving functions,” Chawla stated.

The annual flagship occasion of CMA (Coimbatore Management Association) was held at The Residency Towers on Tuesday. Awards had been conferred on people and companies, particularly those who have contributed considerably to their respective fields, to the reason of control in this vicinity. These awards covered the Best Entrepreneur Award, Best SME Award, Best Woman Entrepreneur Award, Best Manager Award, and Best Start-up Award. ‘Strive to excel’ Raghavan Srinivasan, Editor of BusinessLine, who became the leader guest, said, “Entrepreneurs have to pass in pursuit of excellence to grow to be global leaders. And to remain on the pinnacle, you may want to put money into generation and consistently create a highbrow property to preserve the leadership role.

You have to have the pressure to excel, as no policy can provide that power, and it has no relation to size. All that the marketers want is an environment to make it occur,” he introduced, emphasizing the want to embrace technology and invest in R&D. He informed the audience to be proactive instead of expecting the authorities to show the manner or develop a scheme, for that might not appear. “We are at a bonus in terms of our humans. However, our largest enemy is ourselves because we lack the confidence and mask our diffidence,” Srinivasan stated, urging the small and neighborhood groups to collaborate.

Maya Sreekumar, Assistant Vice-President and Head of Academy (India) at Cognizant Technology Solutions, who became the guest of honor, said: “We all need to unlearn and relearn, for the ability or information obtained by a person, say, three years lower back could no longer propel him into the future. And to market yourself as a higher individual, we will want to equip precise talent units and collect in-intensity knowledge in more than one region.” She encouraged young managers to assume big and expand the exchange. Awards offered V Senthil Kumar, Managing Director, Propel Industries, received the Best Entrepreneur Award, even as the Best SME Award was presented to K Jagannathan, Managing Director, Silver Crown Group of Companies. Asha R Rao, Medical Director, Rao Hospital, was awarded the Best Woman Entrepreneur Award. J Sivakumaran, Chief Operating Officer of Kovai Medical Centre and Hospitals, received the Best Manager Award. The Best Start-up Award went to the CEO and Founder of, Baskaran Veluchamy.

The Congress and the Janata Dal (Secular) formally commenced seat-sharing discussions on Thursday with an assembly among JD(S) chief and former top minister HD Deve Gowda and Congress President Rahul Gandhi. The JD(S), sticking to its call for 12 seats, expressed its willingness to contest 10 seats. Sources in each party stated the discussion changed into numbers, but positive constituencies wherein each party is similarly powerful. The assembly was held at Gowda’s official residence here. The agreement is likely to be announced by March 10. “Gandhi discussed seat-sharing in Karnataka.

This is the primary such discussion between the two parties… Earlier, I had asked for 12 seats. At the meeting, I asked Rahulji to provide at least 10 seats to the JD(S),” Gowda told news hounds after the meeting. Rahul to take every last name He said the goal of the pre-ballot alliance is to win the elections and delivered that the Congress President will take the final word at the seat-sharing association after taking inputs from JD(S) trendy secretary Danish Ali and Congress fashionable secretary in-charge of Karnataka KC Venugopal. “Some problems which have been no longer discussed on the assembly have been left to Venugopal and me,” Ali said. “We are going to attain a decision shortly and will announce it through March 10,” he delivered.