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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'17

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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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Focus Areas
  • Financial Accounting
  • Management Accounting
  • Forensic Accounting
  • 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
  • Social Audit
  • Environmental Audit
  • Quality Audit
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Environmental Accounting and Reporting: A Study of Maharatna Companies
An Analytical Study on Integration of Financial and Non-Financial Information and Its Impact on Stock Market Measure
The Impact of Transition to Ind AS on Key Accounting Areas: An Assessment
Tax Ethics and Tax Compliance: Exploring the Opinions of Tax Professionals of India
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Contents
(Oct 2017)

Environmental Accounting and Reporting: A Study of Maharatna Companies

--Prashanta Athma and N Rajyalaxmi

Due to the growing public concern regarding industrial activities, today the performance of an organization is judged not only on the basis of its financial results, but also with regard to its contribution to protecting and improving the environment. In this scenario, the need for accounting and reporting on the environmental issues and their disclosure in the annual reports has become an important part of corporate accounting and reporting system. Many companies undertake various activities to protect the environment in which they are functioning, but the question remains as to whether they account for their activities in monetary terms and report it in their financial reports. Hence, the present study is undertaken with the objective of analyzing the accounting and the reporting practices of Maharatna companies relating to environmental aspects. The study is based on secondary data collected from the companies’ reports. The data is analyzed with the help of disclosure index.

An Analytical Study on Integration of Financial and Non-Financial Information and Its Impact on Stock Market Measure

--Swati Modi

After economic liberalization, there was increasing interest in Indian markets. Moreover, India has gradually moved to a knowledge-based, fast-changing, technology-intensive economy in which investments in human resources, information technology, research and development, and advertising have become essential in order to strengthen the firm’s competitive position and ensure its future viability. In this scenario, firms feel a growing need to make investments in intangibles that in most cases are not reflected in the balance sheet but on which the future success of the company is based to a large extent, and therefore not only the importance of financial information but also non-financial information is becoming imperative. Hence, research on integration of financial as well as non-financial information is getting more and more significant and noteworthy as it has the capacity to influence the stock market measure. This study investigates the relative value relevance of the financial information and non-financial information of the companies included in BSE 100 index for the period 2003-2013. The study focuses on the incremental power of non-financial information and the combined effect of financial and non-financial information on share price. The various statistical tools used for detailed analysis reveal that non-financial variables do have a significant impact on the dependent variable, i.e., share price. The findings also reveal that when the financial and non-financial variables are taken together, they have a more dominant impact on share price and non-financial variables show incremental explanatory power than the financial variables.

The Impact of Transition to Ind AS on Key Accounting Areas: An Assessment

--Kshema Shrivastava and D D Bedia

In the scenario of economic and financial globalization where the countries around the world are moving towards adoption of International Financial Reporting Standards (IFRS) as their financial reporting language, India could not cocoon itself from this phenomenon occurring globally. Accordingly, India resolved to converge Indian Accounting Standards with IFRS at the G20 Summit in 2009. Consequentially, a new set of reporting standards known as Ind AS were issued by Accounting Standards Board (ASB) in India. Ind AS or Indian Accounting Standards converged with IFRS have now become the new accounting standards applicable for preparation of financial information by Indian companies. This study discusses how in a phase-wise manner, Ind AS will be implemented and explores the impact of Ind AS transition on selected key accounting areas.

Tax Ethics and Tax Compliance: Exploring the Opinions of Tax Professionals of India

--Shilpa Lodha, Azhar Ahmed Sheikh and G Soral

Direct taxation is a major instrument for revenue mobilization and becomes essential for sustainable economic development. India, being a large and rapidly emerging economy, has very strict laws regarding taxation. But still the government has to face a serious threat to revenue mobilization in the form of tax evasion and avoidance. Therefore, the government introduced some income disclosure schemes and, recently, opted for demonetization of larger denomination currency notes, to keep a check on tax evasion, and thereby on black money. Therefore, in the present paper research questions were raised to explore the awareness regarding tax evasion in India, its prevalent methods and the factors causing tax evasion in India. For that purpose, a purposive sample consisting of chartered accountants and article assistants was chosen. A structured pre-tested questionnaire was distributed to collect data. Apart from the methods of tax evasion in India, the respondents were also asked to show their agreement or disagreement on a five-point Likert scale regarding the ethical reasons given by tax evaders to justify their actions and to state their agreement or disagreement regarding the various perceptions on tax evasion. The findings reveal that although the respondents agreed that it is ethical to pay tax, their clients evade taxes due to bad governance and high level of tax-illiteracy to some extent. The existence of dishonest tax administrators within the system also contributed to tax evading.

 

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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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