A Bi-Monthly e-Journal from

Consultants’ Corner January 2015- New Year Edition

What’s Inside......

Murali’s Musings 3

2014 A Quick Recap 4-10

2015 New year celebration 11

Issue 92 | Pages 1– 12

Action is the need of the hour. God is supposed to help people who

help themselves. This means that if you help yourselves God’s support

will be available. We are so lackadaisical that we want everything to

happen by itself. All that we do is just to intend or to expect.

It is interesting to note that most of the expectations is from others

around (family and friends) and from nature (it has to rain!); never too

much on ourselves – but we want all the good happening to us.

Each one of us feel that if we do not harm others by words or by our

explicit actions we are good people and we develop all the logic in the

world to support this argument. So a person who is very inefficient and

good for nothing in an office gets convinced that he is a good person.

He does not realize that his inabilities and inactions actually harm the

entire organization. This again happens because he expects everybody

to understand him; not only that but also adjust with him. A real tall or-

der of expectation!

It is nice to have some new year resolutions to get in to mainstream of

our life: getting up early, being systematic, doing yoga, eating healthy

food, learning something new, etc. but all these need to begin with us.

We as individuals have to gear up and start working to reach our own

expectations. Otherwise they will all remain ‘great expectations’.

Let us make certain resolutions for 2015 and also stand by them by

working every day towards them! Happy 2015!

Resolving New Year Resolutions!

Every new-year is welcomed with fun-fare and expectations. As we

grow older each year seems to move by faster. And every year begins

with greater expectations, and the year that comes by may or may not

fulfil all our dreams. This keeps on repeating every year…and the time

rolls on.

Life seems to be a path of expectations and experiences, the former

very big and the latter not as expected. So we seem to do most of the

things ‘expecting’ something favourable to happen. Most people, when

I ask about this – how much of their expectations have been fulfilled –

do not give a very clear answer they always say ‘somewhat’ and follow-

up saying ‘we cannot expect all that we expect to happen’.

Most of the time the difference between expectations and reality is

“action”. The action that is needed to achieve what we want is not tak-

en and we expect that things to happen on their own. So resolutions

end up in dissolutions!

Murali’s Musings

Murali R S

Managing Director

MaGC

2 Consultants’ Corner

3 Consultants’ Corner

ISO Implementation at MaGC

MaGC formally adopted the ISO Manual and Procedures on 23rd October 2014. Mohanty and Babu Rajendra Prasad were

identified as the Management Representatives for implementing ISO in MaGC. Praveena was nominated as the ISO Internal

Auditor.

Study circle meetings were held on 3rd and 25th November 2014 for familiarizing all MaGCians on the ISO Manual. A prelimi-

nary audit of ISO implementation was taken up in December 2014. A new discussion forum has been started on 29th October

2014 for discussing various issues relating to the implementation of ISO at MaGC. All MaGCians can view the discussions and

participate by clicking here.

Corporate Social Responsibility

As part of MaGC’s Corporate Social Responsibility, a website for Srilakshmi Hayagriva Trust, an NGO working on education

for poor and deprived kids based in Chennai was designed by MaGC team comprising of Ashok, Kishore and Mahesh. This

website went live from 1st January 2015. Apart from designing the website, MaGC is also helping the trust in updation and

maintenance of the website.

The website address is http://www.srilakshmihayagrivatrust.org/.

mymagc.in

mymagc.in is an exclusive MaGCians website which was launched on 11th July 2014. Employee details like Pay Slips, Leave

Status, contact information, HR policy and circulars can be accessed by MaGCians by logging into this website. Key feature

of this website is a Discussion Forum where views and comments on various topics are discussed actively by MaGCians.

The website address is mymagc.magc.in

Jan

uary-M

ay

Study Circle Presentation at MaGC

1. Padmaja J conducted a session on “Nine Money Personalities” on

20th January 2014.

Presentation by MaGC team to the delegation from Bhutan on Financial Reforms in

urban local bodies on 20th February 2014.

MS- Excel Training at MaGC

Bengaluru office was held on 29th

and 30th March 2014. Mr. G

Karthikeyan facilitated the training

with his expert and insightful

knowledge on MS- Excel.

Flow Link Systems Human Resource Manual

Presentation at FLS premises in Coimbatore by

Murali

Local Fund Audit Department - Audit Manual

Presentation at Commissionerate of Municipal

Administration by Kishore

The first MaGChai pe Charcha was held at

the Bengaluru Office on 28th March 2014.

MaGChai pe Charcha is an informal forum

to discuss the ongoing projects and ways

to improve skills and knowledge base

among the team members

Karthik M V & Mahesh at the Davanagere Taluk

Panchayat office from 26th to 31st May 2014 as

part of the TP Accounts Manual Pilot Project

4 Consultants’ Corner

Apr

il

5 Consultants’ Corner

Chess Tournament at MaGC Bengaluru office from 1st January 2014 to 19th April 2014

Jun

e-J

uly

Ashok with Director General

Department of Public Accounts,

Bhutan as part of “Peer Review of

Financial Rules and Regulations”

project in July 2014

MaGC team headed by Murali

attended the MacMillan Woods

regional conference on 18th and

19th July 2014 at Bangalore

Kishore enjoying an off day during his

Financial Advisory project for IST

Egypt in July 2014

Karthik M V gave a guest lecture on ‘Altman Z Score’ at

the Acharya Bangalore Business School, Bangalore on 17th

June 2014

Suresh has undergone The Social Accounting and

Audit (SAA) Master Class training, a two day

training programme conducted by the Centre for

Social Initiative and Management (CSIM) and Loy-

ola Institute of Business Administration (LIBA) as

part of initiative by Social Audit Network (SAN),

India. The course is a preliminary course leading

up to the Certification as an accredited Social

Accountant which enables Suresh to offer

solutions to clients in Social Accounting and audit.

Due Diligence and Valuation project for a residential school

in Kothagiri, Nilgiris was done by MaGC Team comprising

Suresh, Praveena and Vinod

6 Consultants’ Corner

Aug

ust-S

eptember

A two day workshop on 'Implementation of Accrual Accounting in ULBs' was held on Aug 25th and

26th at Bangalore. The workshop was jointly organized by the MoUD - GOI, ICAI, KUIDFC and the

Fiscal Policy Institute. Ashok made a presentation on 'Understanding financial statements under

Study Circle Presentations during

August and September 2014

1. In-house training on “Business

Valuation” on 28th August 2014 by

Kishore

2. “Teachers and Guru” on 05th Septem-

ber 2014 by Murali

3. “Peer Review of Financial Rules and

Regulations” on 11th September 2014

by Ashok

Karthik M V and Ashok attended the meeting of the “Committee on Accounting Standards for Local

Bodies of the ICAI” via teleconference on 13th Sep 2014. Karthik presented MaGC's review points

on the ASLB - 'Presentation of Budget Information in Financial Statements'.

Gopal and Ashok attended a study circle training on 'Rent a CFO - Practitioners' Perspective' at ICAI

Bangalore on 17th September 2014.

Murali addressing participants at a seminar

on municipal finance for a Sri Lankan

delegation organized by the Centre for

Budget and Policy Studies at Bangalore on

19th September 2014

Murali handled a programme on Cutting

Edge Budgeting at a Capacity Building

Workshop for SMEs in Singapore. The

programme was attended by 32

participants. The programme gave the

participants insights into good practices in

budgeting and hands on experience on

using budgeting tools.

MaGC shareholders attend the Annual

General Meeting held at MaGC Chennai

office on 8th September 2014.

7 Consultants’ Corner

October-N

ovem

ber

Study Circle Presentations during October and November 2014

1. “Process Audit” on 19th November 2014 by Praveena

2. “Road Ahead ” on 21st October 2014 by Murali

Hearty Congratulations to:

Praveena who became a Certified Six

Sigma Green Belt from the Indian

Statistical Institute, Bangalore

Padmaja for successfully completing

'Master of Financial Analysis' (MFA)

from ICFAI University, Tripura.

Vijay, Praveena, Shrikanth Maiya and

Karthik M V for your contributions to

the MaGC Quality Manual naming

contest

Murali and Kishore for their certification

in Business Excellence for Consultants

from SPRINGS, Singapore.

Ashok was empanelled with Regional Centre for Urban &

Environmental Studies, Lucknow, in the Category of Double Entry

Accounting System with effect from 19th November 2014.

Mohanty and Prasad attended a one day Faculty Development

Programme on “Introduction to Mediation and Moderation Analysis" at

R V Institute of Management, Bengaluru on 29th November 2014.

Murali was empanelled in the UNDP-UNEP Poverty Environment

Facility's roster of consultants in the area of Public Financial

Management and Budget Process with effect from November 2014.

Ayudha Pooja celebrations at MaGC Bengaluru and Chennai office on 01st October and 02nd October 2014 respectively

8 Consultants’ Corner

Novem

ber-D

ecem

ber

Ashok made a presentation on

'Implementation of Modern Accounting

System in Urban Local Bodies - Implemen-

tation Issues' at a Two-Day Workshop on

‘Improvement of Accounting and

Implementation of Double Entry Accrual

System of Accounting in Urban Local

Bodies’ organised by the Ministry of

Urban Development in collaboration with

the Committee on Accounting Standards

for Local Bodies, The Institute of

Chartered Accountants of India at the

Regional Centre for Urban & Environmen-

tal Studies, University of Lucknow on 28th

November 2014

MaGC Team pose for a photograph with the

client during their visit to CARE Group,

Vadodara in November 2014

Murali interacting with the clients during an

informal training session at CARE Group,

Vadodara in November 2014

Click on the image above to watch videos on the

Training Sessions held by MaGC Team in

Hyderabad

MaGC team comprising of Kishore, Ashok

and Karthik M V pose for a group

photograph with other MacMillan Woods

delegates during the Training on Valuation

of Companies programme conducted in

Hyderabad on 18th and 19th December 2014

9 Consultants’ Corner

Decem

ber

MaGC Bengaluru team during their two-day outing to Murudeswara, Kolluru, Idagunji on

13th and 14th December 2014

10 Consultants’ Corner

Decem

ber

New Year celebrations at MaGC Bengaluru Office

on 31st December 2014

1

11 Consultants’ Corner

Editorial Board

Mr. C S Suresh, Executive Director

Mr. Ashok Rao, Executive Director

Editors

Mr. Karthik M V, Consultant

Published by

MaGC Private Limited, Chennai & Bangalore

Email to cc@magc.in

Our Mission is to apply our professional capabilities with a holistic approach for the happiness of clients,

through values and social commitment.

Branch Office: #107, 1st Floor, Railway Parallel Road, Kumarapark West, Bengaluru - 560 020 Ph/Fax: +91 80 23560265 Email: bengaluru@magc.in

Contact

Website: www.magc.in

Management and Governance Consulting Private Limited

Our Business Associates

Registered Office: 2nd Floor, New No. 4, Old No. 23, C P Ramasamy Road, Alwarpet, Chennai - 600 018 Ph:+91 44 2466 0955/ 24986850 Email: chennai@magc.in