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COVER
STORY
7
Steps to Elevating Working Capital Performance
Veena Gundavelli
The
CEO of a software firm offers advice that companies should
consider to free up cash locked in credit, receivables and
payables, by using business process improvements, technology
and change management.
©
2006 Financial Executive (www.financialexecutivemag.com).This
article was first published in the May 2006 issue of Financial
Executive. Reprinted with permission.
ACCOUNTING
Recognition
of Revenue from Rendering of Services and Use by Others of
Enterprise Resources: Practice and Disclosure by Indian Companies
Sandip K Bhatt
This
article is on how the revenue is recognized for income statement
of an enterprise. The author focuses on Accounting Standard
9 (AS 9), which deals with revenue recognition. Various Acts
related to sale of goods, rendering services and use of enterprise
resources by others are discussed as they generate revenue
for the organization.
©
2006 IUP . All Rights Reserved
SOA
Basic
Communications: For Auditors and Registrants, Its That Simple
Joseph E Spinella
The
author examines the effect that SarbanesOxley legislation
has had on the nature of communications between auditors and
clients, and offers valuable tips for keeping discourse open
and honest.
©
2006 The Pennsylvania CPA Journal (www.picpa.org). This article
was first published in the Spring 2006 issue of Pennsylvania
CPA Journal. Reprinted with permission.
FORENSIC
ACCOUNTING
The
Role of Indian Forensic Accountants: Redefined with AIS and
ERP
R Subramanian
Forensic
accounting has become an important ingredient of audit and
accounting control in any organization. Today forensic accountants
have evolved as powerful professionals who provide their expertise
for internal and external financial control. A forensic accountant
can be a major force in the design and implementation of Enterprise
Resource Planning (ERP) and Accounting Information Systems
(AIS) to prevent manipulations and frauds proactively. The
article brings out the need for the integration of AIS with
forensic accounting and thereby brings about a more efficient
and error free ERP design in an organization. It also highlights
the various applications of forensic accounting with specific
reference to the Indian scenario.
©
2006 IUP . All Rights Reserved
FINANCIAL
REPORTING
New
Models for Financial Reporting in the 21st Century
R K Srivastava and PT Giridharan
The
recent rapid surge in globalization and the massive flow of
cross border capital has created an unprecedented rise in
the number, types and expectations of stakeholders in any
business. One of the immediate fallouts of this phenomenon
is the increase in the scope of financial reporting as compared
to yesteryears. The requirements of today are more demanding
than before as different types of stakeholders require different
types of information from the same source, i.e. the financial
report. The financial statements prepared today do not cater
to all such different requirements. This article introspects
the limitations of the existing financial reporting pattern
and provides details of various reporting models used elsewhere
across the globe.
©
2006 IUP . All Rights Reserved
FINANCIAL
REPORTING
Building
Confidence in Quality Financial Reporting
Lingisetti Venu
Dont
let the quality of information deteriorate with age a profitable
message to the executives who want to rise to the constant
challenge of giving investors the verifiable information when
needed most. Such capital market needs could be satisfied
by implementing Quality Financial Reporting (QFR) by corporates.
©
2006 IUP . All Rights Reserved
BUSINESS
ENVIRONMENT
Economic
Measurement: Is Accounting the Key?
Leon M Chonin
This
article presents the importance of developing structured economic
reporting database, which provides information for efficient
and effective use of resources.
©
2006 Accountancy SA (www.accountancysa.org.za). This article
first appeared in the May 2006 issue of Accountancy SA. Reprinted
with permission.
FRAUD
When
the Boss Trumps Internal Controls
Joseph T Wells
When
a college was so broke that it couldnt even afford copy paper,
toner and other inexpensive supplies, it took some sleuthing
to find the reason. This article summarizes the heroic efforts
of one CPA, without pay or outside staff (or experience in
fraud detection), who helped bring down a powerful and arrogant
college president.
©
2006 AICPA Journal of Accountancy (www.aicpa.org).This article
was first published in the February 2006 issue of the AICPA
Journal of Accountancy. Reprinted with permission.
TAXATION
Panacea
Biotecs New FCCB Offering: A Tax Perspective
Bhuma Suinderaman
The
article analyzes the Panacea Biotecs unique offer of highlystructured
convertable bonds for expanding its operations in India and
offshore. The author presents how these fiveyear bonds benefit
the company in terms of cash flows and the investors in terms
of tax relaxation.
©
2006 IUP . All Rights Reserved
TAXATION
Romania
Entering EU: Critical Issues on Law and Taxation
Lucian Cernusca, and Cristina Puscas
The article presents the changes in taxation codes and
government laws of Romania, as it enters the European Union
(EU).
©
2006 IUP . All Rights Reserved
TAXATION
VAT:
Emerging Issues, Dimensions and Expectations
Sanjeev Vijayvargia
As sales Tax had been subject to malpractices and corruptions,
the ValueAdded Tax (VAT) system was introduced in India with
much expectations. The article analyzes the need for VAT in
India by primarily focussing on the West Bengal VAT rules
and laws. The author presents how the eligible registered
dealer can claim the input tax credit on his purchase of taxable
goods.
©
2006 IUP . All Rights Reserved.
SPEECH
Speech
by SEC Staff: Comprehensive Compliance Examinations for Securities
Firms
Mary Ann Gadziala
©
2006 US Securities and Exchange Commission (www.sec.gov).
Reprinted with permission.
BOOK
SUMMARY
The
Only Sustainable Edge: Why Business Strategy Depends on Productive
Friction and Dynamic Specialization
John Hagel III, John Seely Brown
The
Only Sustainable Edge describes a dynamic competitive advantage
and accelerated capability building, which force managers
to focus on strategy development and the nature of the firm
other than focusing on existing resources. It has presented
specific actions that executives must undertake now to position
their organizations for the future.
©
2005 John Hagel III and John Seely Brown. All Rights Reserved.
IUP holds the copyright for the summary. |
