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The IUP Journal of Accounting Research and Audit Practices
ISSN: 0972-690X
A ‘peer reviewed’ journal indexed on Cabell’s Directory,
and also distributed by EBSCO and Proquest Database


Oct'16

Previous Issues

The IUP Journal of Accounting Research and Audit Practices is a quarterly journal that seeks to provide a platform for cutting edge research in the field of accounting for the benefit of academia and profession at large. IJARAP delivers auditing research articles on financial accounting, management accounting, auditing, accounting standards, taxation, IT-Accounting interface and R&D reporting biases and their consequences.

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  • Financial Accounting
  • Management Accounting
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  • Accounting Standards
  • Taxation
  • IT Accounting Interfacing
  • Auditing
  • Corporate Disclosures
  • Internal Audit
  • Audit of Financial Statements
  • Audit Education
  • Cost Audit
  • Tax Audit
  • Audit Standards and Assurance
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A Study on the Disclosure Practices of Banks in India with Reference to Indian Accounting Standards
A Study on GST and Its Probable Impact on the Sales Tax Revenue of Kerala
An Empirical Investigation of Readability and Communicative
Performance of Auditor’s Report Post ISA 700
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Contents
(Oct 2016)

A Study on the Disclosure Practices of Banks in India with Reference to Indian Accounting Standards

--B G Poornima, Swizel Jesslin Alphonso and Y V Reddy

Disclosure may be defined as a practice of releasing important information about various activities and affairs of the business through annual reports, press releases, interim reports, quarterly results and various other published results. The present study mainly aims at examining the disclosure practices followed by the public and private sector banks in India and the factors affecting the disclosure practices of banks in India. Banks forming a part of Nifty Bank Index have been considered as the sample for the study for the period 2014-15. There are 12 banks included in this index comprising 7 private sector banks and 5 public sector banks. It is concluded that since all the banks considered in the study are listed banks, disclosure scores among public and private sector banks do not vary to a great extent. Accounting for Fixed Assets and Revenue Recognition are the highly disclosed accounting standards, while Accounting for Amalgamation is the least disclosed accounting standard. Size of the bank, profitability and age are the significant factors affecting the disclosure practices of banks in India. The results also show that disclosure practices vary among banks as well as across the years.

A Study on GST and Its Probable Impact on the Sales Tax Revenue of Kerala

--T Benix Kanjiravila

Goods and Services Tax (GST) is a type of unified value-added tax on goods and services which is levied at country level. The main objective of this new tax regime in India is to avoid multiple taxation on same goods and services. Introduction of this destinationbased consumption tax will stimulate Indian industry and ensure its overall economic development and growth. The present paper mainly focuses on examining the structure, features and expected challenges of proposed GST, and also endeavors to forecast its probable impact on the sales tax revenue of Kerala. Based on the trends from 2004-05 to 2014-15 under VAT regime, the non-VAT and VAT revenue of Kerala is expected to grow at a diminishing rate in the coming years. This shortage of VAT revenue will have an adverse impact on the economy. GST is the only option to increase the tax revenue of Kerala.

An Empirical Investigation of Readability and Communicative Performance of Auditor’s Report Post ISA 700

--Mondher Fakhfakh

Currently, the International Standard on Auditing (ISA 700) is a reference model for several independent auditors. The purpose of this paper is to examine the understandability of the illustrations provided by ISA 700 in terms of the structural features of international auditors’ reports. The paper discusses the compliance level of international auditors’ reports with the linguistic rules and the implications for users of financial statements. It provides new empirical evidence about the linguistic features of international illustrations provided by the ISA 700 and legibility of auditing results. The measurement of the understandability of unmodified reports is performed in terms of the linguistic characteristics of standardized reports wording. The empirical results show that the standardized illustrations are not fully understandable by users of financial statements. The illustrations of international auditors’ reports are not compliant with several linguistic rules.

 

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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