The IUP Journal of Accounting Research and Audit Practices
Focus
International Financial Reporting Standards (IFRS) have become an important issue for all
the governments across the world. Enabling international capital movement and attracting
investments from across the world either in terms of foreign direct investment or foreign institutional investments are the primary concerns. To facilitate the same along with the technology and availability of data, transparency and consistency in the accounting policies adopted for financial reporting have become a necessity. To implement the adoption or convergence of IFRS, various countries are engrossed in making necessary changes and bringing in policies to facilitate the same. India is no exception to this phenomenon. Researchers across the globe are also attempting to understand and foresee the impact of converging or adoption of IFRS in various countries. One such attempt with reference to convergence of Indian companies to IFRS is made in the paper, “Adoption and Implementation of IFRS in India: A Corporate Experience”, by Anubha Srivastava and Priyanka Gupta. The paper attempts to find out the impact on the key ratios of the firm using the primary and secondary data sources along with the acceptance of IFRS by the corporate in India.
The next paper, “EVA and Stock Returns in Emerging Markets: The Indian Evidence”, by
T G Saji, is an addition to the existing studies on Economic Value Added (EVA). Research on the ability to explain stock market returns using profitability ratios and EVA has produced contradicting and diverse results. This work is an addition to the literature in terms of methodology, time period and sample. The author attempts to determine that the variation in EVA and cost of capital of firms definitely affect their stock price changes in the market and its impact could be visible only in the subsequent year.
The market to book value gap is said to be high of the firms with higher intellectual capital. The last paper, “Industry Intellectual Capital Disclosure on the Ghana Stock Exchange”, by Nicholas Asare, Joseph M Onumah and James K Otieku, attempts to study the intellectual capital disclosure practices of the firms on the Ghana Stock Exchange. The study attempts to make a comparative analysis of sector disclosure of intellectual capital in the corporate annual reports of listed companies across industry sectors using content analysis approach. The two important findings of the study are: banking, finance and insurance sectors disclose more intellectual capital than any other industry; and industry affiliation does affect the intellectual capital disclosure.
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.
