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Dear Professional colleagues,
I sincerely thanks all the members who have elected me as
Chairman of Ahmedabad Chapter for the year 2013-2014. It
is indeed a matter of great pleasure to have the first
communiqué with you in the capacity of chairman-
Ahmedabad Chapter. I assure you that i will do my best efforts
for the improvement of chapter's activity with your support
and cooperation.
It is a matter of pride and privilege to have the dynamic team to support me for the
year 2013-14 for organizing various programs at the Chapter for the members and
the students. The last six months were full of activities at Chapter. Campus
interviews for the final passed students in Dec. 2012 examination were held at
Chapter Office. More than 82 students participated and 12 students were selected
and offered job. I congratulate to them for their achievements. Various programs
on Cost audit report and compliance report, on open access system for power
purchase, on cost audit orders: issue: opportunities were arranged successfully.
Recently Program on Service Tax was arranged on 22nd June, 2013. CMA Sanjay
Bhargave CCM explained lucidly various provisions of amnesty scheme and also
reverse charge mechanism. It was well attended by around 40 members. On 27th
June, 2013 a program on strategic cost management by CMA P D Modh was
arranged. The more participants encourage us to organise more and more
programs for the benefits of the members and the students. I appeal to the
members and also to the students to attend more and more programs. The
chapter has also organised investor's awareness program at Visnagar on 21st
March, 2013. This year too, in succession we have reached the new heights in
registering the students. The number of students registered with the Chapter is
approx 1200, and perhaps we are leading in strength in the western region. With
the increase in number the responsibilities of the managing committee and
teaching faculty of the Chapter increases manifold as simultaneously we have to
be cautious on quality improvement of the students. We have the oral coaching
centres at Ahmedabad, Mehsana, Patan, Siddhpur and this year the new centre is
started at Palanpur. The results of Dec-12 examination is very encouraging and it
is in line with our history. The overall students of the chapter declared as passed
are as under: 65 students of Foundation, 186 Students of Intermediate and 123
students of Final Examination. At this juncture I request all the final passed
students to immediately enrol as member of the chapter as well as of the institute.
News Letter April to June- 2013
Continued on Page 16
Page - 1
THE INSTITUTE OF COST ACCOUNTANTS OF INDIATHE INSTITUTE OF COST ACCOUNTANTS OF INDIATHE INSTITUTE OF COST ACCOUNTANTS OF INDIA
AHMEDABAD CHAPTERAHMEDABAD CHAPTERAHMEDABAD CHAPTEREDITORIAL BOARD: CMA Ashish Bhavsar I CMA P.H.Desai I CMA Hetal Shah I CMA Malav Dalwadi
OFFICE BEARERS2013-2014
IDEALS THE INSTITUTE STANDS FOR
To develop the cost and management Accountancy Profession.
To develop the body of members and properly equip them for function.
To ensure sound professional ethics.
To keep abreast of new development.
INSTITUTEHEAD QUARTERS
12, Sudder Street, Kolkata - 700 016.
Regional OfficeWIRC OF ICAI
Rohit Chambers, 4th Floor, Janmabhoomi Marg, Fort, Mumbai-1.
CHAPTER OFFICE
CMA R.B.KothariChairman
CMA V.H.SavaliyaVice Chairman
CMA Ashish BhavsarSecretary
CMA Hetal ShahTreasurer
402/403, Shoppers Plaza Unit - III, 4th Floor, Opp. Municipal Market, C.G. Road, Navrangpura,
Ahmedabad-380 009. Telephone : 079-26403616, 27540561
Email : [email protected],[email protected] : www.ahmedabadicmai.in, www.icmai.in
Timings : 8 am to 8.30 pm
“To be yourself in a world that is constantly trying to make you something else is the
greatest accomplishment.” ― Ralph Waldo Emerson
Chairman’s Communique
Page - 2
Photo Gallery
49th AGM of Ahmedabad Chapter on 25th May 2013 at Ahmedabad on dias office bearers
L-R – CMA Ashish Bhavsar, CMA R B Kothari, CMA P H Desai
49th AGM of Ahmedabad Chapter on 25th May 2013 at Ahmedabad
– Speech of Chairman CMA P H Desai
View of participant members in 49th AGM Election Officer Mr. P P Dave is announcing result of Managing Committee for the year 2013-15
Speech by Mr. Pradipto Ganguly - observer (Election) of ICAI Kolkata.
Speech by CMA P D Modh explaining view about Chapter's activities.
CMA Sanjay Bhargave – CCM (ICAI) being welcomed by CMA Ashwin Dalwadi – Chairman (P D Committee) of
Ahmedabad Chapter during seminar on Service Tax conducted by Ahmedabad Chapter on 22/06/2013.
CMA Sanjay Bhargave – CCM (ICAI) addressing the participants during the seminar on Service Tax conducted by Ahmedabad Chapter on 22/06/2013.
Page - 3
CMA R B Kothari Chairman
Contact No. (O)Mobile No.E-mail
:::
02762-220111 9925210288 [email protected]
CMA V H Savaliya Vice Chairman
Contact No. (O)Mobile No.E-mail
::
:
079- 275417799825025716
CMA Ashish S Bhavsar Secretary, Chairman & Convener -Editorial & Website Committee
Contact No. (O)Mobile No.E-mail
::
:
079-267688049924128804
CMA Hetal S Shah
Contact No. (O)Mobile No.E-mail
::
:
079-268682749974051501
CMA P D ModhChairman & Convener Oral Coaching
Mobile No.E-mail
::
CMA Ashwin G Dalwadi
Contact No. (O)Mobile No.E-mail
::
:
079-264604459327012175
CMA S S Shah
Contact No. (O)Mobile No.E-mail
::
:
079-264628209824339003
CMA P H Desai
Contact No. (O)Mobile No.E-mail
::
:
079-264467809825615468
Treasurer, Chairman & Convener Accounts & Finance Committee
Chairman & Convener - P D & Member's Service Committee
Chairman & Convener -Infrastructure Devlopment Committee
Chairman & Convener -Training & Placement Committee
Management Committee for the year 2013-14
CMA Malhar A Dalwadi
Contact No. (O)Mobile No.E-mail
::
:
079-264604458141738585
Chairman & Convener -Student's Skill Development Committee
CMA Jignesh S Desai
Contact No. (O)Mobile No.
::
95-2714-2214819825431450
Member
Committee
E-mail : [email protected]
Page - 4
CMA Ilaben P PatelInvitee
Contact No. (O)Mobile No.E-mail
::
:
079-660557469824017842
CMA C P PatelInvitee
Contact No. (O)Mobile No.E-mail
::
:
079-268686199974051267
CMA K D Shah
Contact No. (O)Mobile No.E-mail
::
:
255028819427490839
CMA Nikunj A Shah
Contact No. (O)Mobile No.E-mail
::
:
95-2718-2250019825303207
CMA S C Shah
Mobile No.E-mail
::
CMA Mitesh Prajapati
Mobile No.E-mail
::
Ms. Hetal R Mehta
Invitee Invitee
Invitee Invitee
Student's Invitee
Mobile No. : 9979977278E-mail : [email protected]
Management Committee for the year 2013-14
Page - 5
Brief Profile of Office Bearers
CMA R. B. KothariChairman
CMA R.B. Kothari is a senior associate member of institute having more than 30 year's
experiences. He is presently serving as General Manager (F&A) in Uttar Gujarat Vij
Company Ltd, Mehsana. He has also served LIC, Ahmedabad Municipal Corporation,
Vijaya Bank and The Gujarat State Civil Supplies Corporations Ltd for a pretty long
period of 23 years. He was also awarded National Merits scholarship during his college
career. He is also Director in Lions Club of Maninagar, Ahmedabad. He is Visiting
Faculty at Ahmedabad Chapter. He is associated with chapter since last 5 years. He
was joint secretary of the chapter for the year 2010-11 & Vice chairman of the chapter
for 2011-12 & 2012-13.
CMA Vinod SavaliyaVice - Chairman
CMA Vinod Savaliya is a senior fellow member of the institute having more than 20
year's of experiences. He had experience over 18 year in the industry. During this
period, he had enjoyed very reputed post in the various organisations. He was Vice
President (Finance) in Dishman Pharmaceuticals Ltd for the period of 5 years. Since
last 12 years, he is in practice as a cost accountant. He is associated with chapter since
last 10 years. He was Treasurer of the chapter for the period of 2007 to 2010 &
Secretary of the chapter for the period of 2010 to 2013.
CMA Ashish BhavsarSecretary
CMA Ashish Bhavsar is a fellow member of the institute. He is academically sound and
dynamic personality. He got merit in the final examination of the ICAI. He has been in
practice as cost accountant since last 10 years. During this period, he had covered
various types of industries. He is associated with chapter since last 7 years. He was
Treasurer of the chapter for the period of 2010 to 2013.
CMA Hetal ShahTreasurer
CMA Hetal Shah is currently working as DGM - Finance in Cadila Healthcare Ltd.,
Ahmedabad for more than 15 years. He has experience in the fields of Management
Accounting, Costing, Budgeting, MIS, Financial Accounting and commercial. Apart
from expertise in these fields, he also possesses working knowledge of
Pharmaceuticals, FMCG and Food & Beverages industries. He is associated with
chapter in different capacities for last 7 years . He was the chairman of the Students'
Skill development committee for the period 2012-13. He is also actively involved in
various social activities.
Page - 6
Oral Coaching Committtee -Chairman Commnique
Dear Members,
As a Chairman of Oral Coaching Committee, I am highlighting the coaching activity its problems and prospects before you.
Institute has announced the cut-off date 31st May 2013 for admission, those who are to appear in December 2013 exam. Due to efforts of Ahmedabad Chapter staff and extensive promotional work, we could enroll the good No. of students. It is noted that before result any one can get provisional admission.
We are facing competition of private classes also and we need to form a strategy for this. Our aim is to serve social purpose first and not the profit. Our fees are the lowest in all respect and our performance as per promise. Members are requested to encourage their subordinates either in their company or elsewhere to enroll in this course.
The result of 2012 is very impressive. Chapter has registered largest strength of students in entire Western Region. Executive Committee members have full support to Coaching activities. Chapter has a extraordinary infrastructure including 6000 books in library.
We have coaching facilities at various centers namely C G Road, Sarap Building-Income Tax, Best High School – Maninagar, V R Patel college- Mehsana, Maktaba Jafferia Institute Siddhpur, G.D. Modi Vidhya Sankool – Palanpur and North Gujarat University – Patan. More centers will be open in future. We are very much thankful to all the members for their direct – indirect support in these activities.
Various attempts are made for student's relationship management for better communication and effective actions. Students are highly satisfied for response from administrative staff.
Chapter has decided for advancement and maximization use of IT.
Thanks.
CMA P D ModhChairman-Oral Coaching Committee
- CMA P D Modh
For Attention of MembersFor Membership of Institute :
The members whose name have been removed from the Register of Members can restore their membership by
paying all arrear fees and a restoration fee of Rs.500/- and submitting application for restoration in Form M-4, which
can be downloaded from the Institute's website www.icmai.in
For any query in this regard, e.mail may be sent to [email protected].
For Membership of Ahmedabad Chapter :
As per the new Chapter Bye-laws of the ICAI, every member of the chapter required to pay Annual Membership Fee
of Rs.300/-. For every year from 1st April'. So you requested to make payment of Annual membership fee of Rs.300/-
for the year 2013-14.
Page - 7
PD Committee Chairman’s CommuniqueCMA A.G. Dalwadi
Dear Professional Colleague,
It is my immense pleasure to communicate to you all through this news letter after a long time.
As you are aware that our profession is marching towards a pick with high velocity. It is also obvious to have
some issues associated with velocity and direction. Such issues can only be overcome by meeting the
expectations of the society and all stakeholders. For this, the Profession Development committee owns lot of
responsibility.
No. of Cost Accounting Standards and Cost Audit Assurance Standards are in place and as well as in pipeline
form Institute's end. Peer Review is also in the offing. All these will require lot of efforts on parts of the
professionals to meet their responsibilities.
On behalf of Profession Development Committee of the Ahmedabad Chapter, I take this opportunity to
assure you that we shall organize sufficient programs to equip our fraternity to meet the challenges ahead.
Thanks & Regards
CMA Ashwin Dalwadi
Chairman P D & Member’s Service Committee
Achievement
Editorial Board of the news letter decided to publish various
achievements of the member in quarterly news letter.
Achievement like Additional Qualification, submission of
thesis / research paper, received an award for any sports or
social activities from reputed organization or Govt. Deptt. So
kindly inform us about the achievement with relevant
documents and photographs to chapter office. Editorial Board
will publish the same, if they feel suitable for news letter.
Page - 8
Dynamics of illegal Business
In this world, business in goods and services to meet needs of human being is like absolute truth. Wherever
human being habitat, business follows immediately. It is governed by the principle of demand and supply. As
long as demand exists for the aforesaid two, supplies of goods and services will follow. And we know, this
demand can never be Zero as some needs are essential to survive. So business is ever green in respect of
such needs. And beyond such business, some people look for extra opportunities, legitimate or otherwise, to
make money and to have thrill in their life. Examples of such opportunities are betting, gambling, match fixing,
spot fixing, rock climbing, mountaineering etc. There is no dearth of such people. And God in His Great
Wisdom creates such people based on their Karmas in earlier life. This is being stated to make a point that it
will be good for leaders and managers of human societies to recognise this fact. If they recognize, they can
manage better, reduce pain and bring cheers to the societies. For instance, you wish to climb Mount Everest
or Alps, no one has problem with your wish. There will be organizations and people who will prepare and help
you in this adventure. In your adventurism, they will also make legitimate money. But if you wish to open a
betting, gambling, human trafficking or JEE Question Paper Leakage Centre etc no one will support you in
open because these are not socially or legally acceptable activities. These are not necessary for your survival.
But betting, gambling, human trafficking or Question Paper Leakage Centres etc. also attract many as they
can make big money fast. These are not new activities; these have been there for a long time and are
attributable to human nature. Prohibitions, restrictions and controls restrict or stop supply of services; and all
this inflates price.
In aftermath of recently concluded spot fixing tainted IPL matches, there is demand to legitimise betting in
sports. By this way, according to CII, government can get additional revenue to the tune of Rs. 19 thousand
crore. Demand to legalise betting in sports is being made as betting cannot be checked by policing. But as
entire business is illegal, thousands of crores of rupees enter the underground economy or take overseas
flight to safe havens which is against the national interest. And as business is illegal, criminals enter the arena
as they can give a good challenge to police. This has been Indian experience over the last decade and
therefore, it is good to accept that policing cannot prevent this menace. It is good to accept this reality and with
this acceptance, leaders and managers of economy should think of ways and means to manage betting in
sports in larger interest of the society so that money associated in betting is accounted for and enter the
mainstream of national economy. Our wishful thinking cannot stop people from indulging in betting.
In pre economic reforms era, import of gold was prohibited into India but because of demand in the country,
smuggling of this metal had been rampant for decades. Smugglers were servicing the demand. To curb
inward smuggling of gold and prevent illegal remittances of foreign exchange against such unauthorised
import, import of gold was allowed on onset of economic reforms in the country and duty was imposed and
consequently, smugglers largely went out of this business. Thus recognising the fact that there is demand of
gold in the country, a policy instrument to legitimately serve the demand helped in eliminating the illegal ways
- Shri K. R. Bhargava
Page - 9
of servicing demand. Currently, in view of the widening of Current Account Deficit, government has adopted
an easy course to reduce the deficit; it devised policy to reduce imports by raising tariff value and customs
duty. It has also put credit restrictions to control or reduce imports. Besides, F M has also appealed to people
not to buy gold. These are good steps in theory. But, will the people listen to appeal? Will the demand go down
in country? Will smugglers not try to fill the Gap as stated government initiatives have created a parallel
market? Recent reports indicate that smuggling of gold has resurfaced. India is a country with hundreds of
legal and illegal entry points to smuggle; and there are hundreds of ways to smuggle. If market demands gold
and margin exists, smugglers will not disappoint the customers. Even otherwise, how many of us buy gold on
payment of VAT? Retail sales are largely in cash. If you wish to make payment against Debit Card, you are
required to pay not only VAT but extra banking charges also. So dealer will suggest paying in cash to save tax
and save banking charges. Such business dynamics can easily accept/absorb illegal purchase of smuggled
gold in the country. Import on account of such purchase is not free of cost; it has to be financed by under
invoicing of exports and hawala transactions. And therefore, surge which government wants to see in the
forex reserves may not be seen because we are ignoring the realty; REALTY of DEMAND of yellow metal in
our socio-economic system.
Further, human beings are thinking in nature and think globally but lazy and rarely act as team because of
conflicts of interests. As a result of such thinking at the highest level; they prohibited trading in Red Sander
Wood under CITES. Red Sander is grown in forests of Andhra Pradesh in India and nowhere else. This specie
of wild life is endangered and likely to extinct if not protected. In spite of 178 countries being signatories to the
convention, it is being successfully smuggled and traded in markets of China, Japan, Myanmar etc. Customs
and police in India have been making seizures but smugglers change their modus operandi and place of
operation to cheat customs and manage to take this valuable and rare wood to its consumers. And why not,
one tonne of wood gets you Rs 4 to 5 lakh in global market. The wood is used in making musical instruments,
medicines, dyes, furniture and has application in atomic reactors.
Though primary responsibility to protect this specie rests with State Forest Department, State Police and
Transport Authorities but hardly there is any effective Action Plan by them to deal with the subject. Smugglers
manage to move it from down south and take all possible routes to smuggle out of India. Till date, there is no
effective policy to dispose of confiscated wood and huge stocks are lying with customs and forest department
for many years. Unless money is realized on sale of confiscated goods, informers and officers cannot be
rewarded as per existing rules. Such a scenario is not good to develop a good intelligence and enforcement
net work to meet the challenges. However efforts made by the customs enforcement teams in such
environment are appreciable.
And as smugglers innovate to smuggle and hoodwink customs; customs too need to learn from their
strategies and develop Risks Management System accordingly. For instance, in last couple of years, in
Mumbai, customs took initiatives to prevent filing of export documents in the names of fake entities. To counter
this, smugglers, taking advantage of government policy on stuffing of containers in the presence of Excise
Page - 10
officers in factories and warehouses, have started indulging in trade with bona fide entities on the basis of
advance payment and Ex-works delivery. They employ their own transporter to move goods to the gateway
port; tamper with Container Integrity and add or substitute cargo with contrabands while in transit to the port of
shipment. It is good that customs in India have introduced Risk Management Systems from July, 2013 to
manage exports. We hope while writing Risk Rules for RMS, Risk Managers have take into consideration
aforesaid factors i.e. whether foreign buyer is a new face or an old customer; whether buyer's contract is Ex
works; whether payment is in advance or on credit or on L C; transportation to gateway port is arranged by the
foreign buyer or shipper etc. in addition to many more factors that are seen in case investigations.
Enforcement and compliance officers need to keep in mind that as long as demand exists, dare devils will try
to fulfil the demand. They need to keep watch in the demand and supply territories and additionally, keep on
upgrading their skills and technologies. Container security is a challenge and Customs should consider
extending AEO program to transporters who move goods from works/ warehouses to the port. Those who are
not part of this program should be subjected to higher examination norms.
And finally, i mentioned in the beginning of this article, if demand exists, there are many to fulfil the demand.
Customs and other agencies cannot have a fool proof enforcement framework for various reasons including
corruption in government departments. So, smuggling will continue and slowly forest will disappear.
Government need to admit this realty; and after acceptance of realty, develop plans to make use of
opportunities available in Japan, China etc. Encourage cultivation/forestation of red sanders in its native
areas under the state owned or PPP arrangements; legalise export of this wood through state or central
agencies to meet international demand and earn foreign exchange. Think of establishing Special Economic
Zone (Forestry); invite foreign investment in such zones to grow and process Red Sanders in the State of
Andhra Pradesh. There are people in Andhra Pradesh who have taken up cultivation of this plant in big way;
encourage and guide them to make good money. Threat to the survival of this specie will disappear and these
measures will help to bridge CAD in future.
Lastly, Manufacture and sale of Gutka was banned by the State Governments to protect the health of citizens,
particularly labour class. A step must be welcomed by one and all. But no one went to the consumers/labours
to ascertain what they will eat in lieu of Gutka when they feel tired after hard manual work at their work place
where even a cup of tea is not available to soothen the nerves. You cannot assume that consumers will
overnight de-addict themselves and demand for Gutka will disappear with the issuing of notification. As I said,
homo sapiens are great thinkers and solution providers. Soon after the ban, different arrangements are made
available in the market to meet the consumer demand without violating the ban. Government needs to first
analyse need dynamics, business dynamics, consumer behaviour and enforcement arrangements before
announcing ban; without due consideration of all these, socio economic benefits are not going to happen.
(Author is former Chief Commissioner of Customs and comments can be mai led to
Page - 11
Gandhiji – As a Great Leader
Today, leadership has become a buzzword and is extensively talked about in the management world. This assumes signifance particularly when India is on the threshold of moving to become a world power. Many books have been written on leadership in the west and India. But while reading Gadhian literature, I came across many distinct leadership qualities and traits he demonstrated which are now talked about as buzzwords. May be because he was the Mahatma and more of a political and social leader, this important aspect of his personality has not been highlighted much. In this article, I have tried to highlight his leadership traits which may be useful ideas for management students and practioners.
Clear vision and mission: His vision was very clear and centred on core objectives. The central objective was to obtain Independence and simultaneously bring tangible changes and transformation in the economic. Social and political fields. He focused on them without ambiguity and with a high degree of concentration. Indeed, his roadmap was clear and precise. That was one of the main reasons why he achieved so much success.
Great Strategist : He knew what strategy he should employ, keeping in mind the targets, the means and methods. He also thought a lot about these before putting them into practice, reviewed them from time to time and made changes and course corrections where necessary. We find that while his one eye was on the mission and the vision, he also kept in view on the goals and objectives. In short, while he was a visionary, he a was a realist too.
Leading from the front : It is acknowledged that if one wants to be an effective leader, he has to lead from the front to set example to others. There are many such examples that we see in Gandhiji's life while he was in South Africa and India. Many would recall the image of the Dandi march with a stick in one hand, walking erect and leading from the front. This is the most strking example. He believed that a leader has to set an example first for others to follow. This leadership quality was one which motivated large masses to come to him.
Great team builder : Gandhi knew that he cannot function and be effective without a good team. Look at his top team – divergent in nature, temparement and beliefs. These included Nehru, Sardar Patel, Sarojini Naidu, Rajgopalachari, Rajendra Prasad, Vinoba Bhave, et al. All of them were great in their own ways and can be likened to powerful general managers of a large corporation where Gandhi was to CEO. Gandhi also builds a skillful management tapestry with his people management abilities. He not only allowed dissent, but even encouraged it at times to make his vision and mission more effective without compromising on the core basic values and issues.
Organizer and planner : He also knew that in order to accomplish his tasks, he had to organize and plan the entire country. To do that, he got the involvement of all – the big and small into result-oriented action plans.
Effective communicator : Today's corporations often recognizes communication gaps. Obviously, this was one area that Gandhi focused on to operate on a larger canvas at a national scale. He reached his vast audience not only through correspondence but also through publications like the India Opinion, Young India and Harijan. He also wrote many books and brought out various booklets keeping people informed about his views, happenings, successes and failures.
Good mentor : He knew that the task he had undertaken was big and different and therefore the importance of monitoring and mentoring leadership was recognised. He spent considerable time and energy in moulding the cadre at the top, middle and bottom. This also helped him in accelerating the pace of activities in his roadmap.
Conclusion : There are many books on Gandhi and tributes to Gandhi, but it may be apt to quote Jawaharlal Nehru in the foreward to the eight volume series titled, “Mahatma”, by D G Tendulkar. “The amazing thing about Gandhiji was that he adhered, in all it fullness to his ideals, his concept of truth and yet he succeeded in moulding and moving enormous masses of human beings. He moulded a whole generation and more and raised them above themselves, for the time being atleast. That was a great achievement.
IT IS ACKNOWLEDGED THAT IF ONE WANTS TO BE AN EFFECTIVE LEADER, HE HAS TO LEAD FROM THE FRONT TO SET EXAMPLE TO OTHERS.
- CMA Shashikant C. Shah
Page - 12
Strategic Cost Management
Strategic Cost Management is a developing subject where Management Accountant can very important role for sustainability of enterprise.
Broadly speaking strategic Management is concern with
External information of competitors regarding cost and finance. Relationship between strategic position chosen by firm and expected emphasis in Management Accounting. Gaining competitors advantage through decrease cost and improving value chain.
External information can be availed from published data like Annual reports, Press, Research, Pricing policy, Business magazines.
Strategic position can be Cost Leadership Differentiate Focus
Relation between strategies and cost management
Product diff. Cost Leader
Role of Standard Cost Not very important Very importantFlexible Budget Low highMarket Cost Analysis Critical to success lowProduct Cost – InputCost & Pricing decision Low highCompetitors Analysis Low high
Gaining Competitors Advantages
Tools & Techniques to be employed
Value Chain Analysis Bench Marking Activity Base Management Balance Score Card Customer profitability Theory of constraints (Managing bottlenecks to improve throughput rate)
- CMA P D Modh
Obituary The Ahmedabad Chapter and its members deeply mourn the sad demises
of victims for the tragedy occurred in Uttarakhand on 16th June'2013.
More particularly for the sad demises of parents of our member
CMA Bhaumik A. Gajjar.
We pray almighty to rest their Soul in eternal peace.
Page - 13
Provisions of Cost Audit Report and Cost Compliance Report- CMA P H Desai
Page - 14
Provisions of Cost Audit Report and Cost Compliance Report- CMA P H Desai
Important orders For Cost Audit and Compliance Report and For Appointment of Cost Auditors
Page - 15
Provisions of Cost Audit Report and Cost Compliance Report- CMA P H Desai
WELCOME NEW MEMBERS OF AHMEDABAD CHAPTER SHIVANGI V. LAKHATARIYAUPASNA AGRAWALANKIT N.SHETHNIRMAL SINGH KUSHWAHKARTIK R. LILAMAHENDRAKUMAR AGRAWALI.S.CHUNDAWATVIDEH TRIVEDIHITESH L.VAGHELASHAILESH H.RATHODNILESH PUJARAMUBARAK MOMINANKIT S.SHETHCHINTAN H. GOHILMAULIK U. RAVALHARSHIL H.SHAH
CHARMI G. SHAHASHWADEEP RAISURESH D.MARWADIGOYELGAURAV D. RAVALLAVINA V. BHAMBHANIDAIVAT VAKILNANDLAL GUPTALALIT C.JAINKANUBHAI PATELDATTEY MODHMAULIN K.SHAHYUGAL JAINPARTH YAGNIKNIKITA J.TRIVEDIKINJAL K.PARIKHURVI DUDANI
Page - 16
The June 2013 Examination was held at two centres at
ahmedabad. 1. LA Shah Law College and 2. Shri
Vivekanand Commerce College very smoothly
I have privilege to inaugurate new batch of oral coaching
at Mehsana on 20th June 2013. It was well attended by
the members and the students. New batch of oral
coaching at Ahmedabad was inaugurated on 25th June
2013 by Dr. P.V. Desai. It was well attended by the
members, the students and the parents of the students.
The prizes were also distributed to the rank holders of
previous examination. The oral coaching classes of
foundation and intermediate and final have already
been started in all centres
Due to global financial crisis India's imports suffered and
the importers have to pay more for their imports as the
Rupee reached to its bottom level. The exporters are
benefited as they realized more for their exports. India's
external Debt rose 13% to $390 Bn in FY 13 the reason
being rise in short term trade credit and external
commercial borrowings (ECB's) at the back of high
current account deficit (CAD). It was also increased due
to sizable rise in Rupee denominated non resident
deposits from $12.20 Bn to $ 70.80 Bn as at end March-
13. The ratio of Foreign Exchange Reserve to External
Debt as at end March-13 at 74.90% was lower than the
level of end March-12(85.20%).
India is among the best countries rated by FDI
confidence Index. After struggling for 12 years US took
the first place in 2013 while India slept to 5th Rank in
2013 from 2nd Rank in 2012.
Monsoon is a very joyful season. I wish you and your
family members a very happy season of festivals like
Rathyatra, Raksha Bandhan, Independence Day.
With Warm Regards,
CMA R B Kothari
Chairman.
Continued from page - 1 Good Lessons in Team Work from an age old Fable
Lesson –1 Once upon a time Tortoise and a Hare had an argument about who was faster. They agreed to a race and started off. The hare shot ahead for some time. Then seeing he was far ahead from the tortoise, decided to rest. Soon he woke; the tortoise had finished the race. Message : Slow and steady wins the race. Lesson –2 The story continues……..The hare was disappointed. He realized he had lost because of his over confidence. He challenged the tortoise to another race. This time the Hare ran all out without stopping and won the race. Message : Fast and Consistent will always beat the slow and steady. Lesson –3 The story continues……..The Tortoise did some thinking too. He challenged the Hare to another race, but suggested a different route. They started off and the Hare speed ahead until they came to a riverbank. While the Hare wondered how to cross it, the Tortoise swam across and finished the race first. Message : Identify your core strengths and then change the playing field to suit it. Lesson –4 The story continues……..The Hare and the Tortoise did some brainstorming. They realized that it would be better to run the race as a team. TheHare carried the Tortoise till the riverbank. There, the tortoise carried the Hare across the river. They both reached faster than they ever had before. Message : None of us are ever better than “ALL of US” Let’s go and build stronger teams.
- Compiled by CMA Hetal Shah
Page - 17
List of Meritorious students – December – 2012 Exam
ICAI – December-2012 Result of Ahmedabad Chapter
FeedbackChapter welcomes member's article for news bulletin. If
any member has an article suitable for News Bulletin are
requested to submit the same to publish in the next
bulletin. Suggestions from members for improvement of
newsletter & chapter's activities are always welcomed.
Page - 18
FINAL & INTERMEDIATE RESULTS FROM AHMEDABAD CHAPTER OF COST ACCOUNTANTS
FINAL COMPLETE PASS RESULT FOR DECEMBER -2012
DAIVAT N. VAKIL KUSHAL P.. DESAI CHARMI G. SHAH BHOOMI C.TRIVEDI ANKIT S. PATEL MEGHA K. THAKKAR KRUNAL V. SHAH NIYATI G. SHAH MANOJ M. BHARBHAYA CHAITNYA M. PADIA SAUMIL P. MEHTA RAHUL A.MODH MARWADIGOYL SURESHKUMAR D. RAJKUMAR J. SHARMA RUCHIT K. SHAH PRADIP A. KHANDARE LAVINA V. BHAMBHANI DHAVAL V. PESHAVARIYA ATUL H. GAJERA BHOOMI R. PATEL SUNIL K. AHUJA PRAGNESH S.. DARJI
TEJAS R. FETAWALA BRIJESH V. VYAS HIREN B. DHOLAKIA JITESH M. VAISHNAV SHARUKHAN S.KURESHI RAJAN S.PATEL KETAN B. MATHANIYA DHAVAL G.SHAH ARPIT V.PATEL ABHIRAJSINH J. JADEJA SONIKA A.BHARTWAL SHAIKH MD MOMIN M. PRASHANT P. KARAVADIYA SUNNY R.JAIN MAULIK U. RAVAL NIKUNJ G.THAKKAR URVI K.DUDANI AVANI P.SEVAK GAURAV D.RAVAL RAHUL SUNIL PERIWAL AJAYKUMAR GUPTA PUNITA GAGAR YUGAL S. JAIN
DEEPA M. BAGARIA AKSHAT H. RAVAL SHAILESH H. RATHOD KRUNAL H. TRIVEDI SHAIKH JUNEDBHAI ANVARBHAI NILESH B. POOJARA SHAHNAVAZMD. MODASIYA KIRANKUMAR K. PATEL RAJ ASHWADEEP HARIBANSH TANOJ ADVANI CHINTAN H.GOHEL VATSAL R.PUJARA DIMPY J.DAVDA HARSHIL H. SHAHRAHUL R. BANDIWADEKAR JAGDISH P. SAVALIYA POOJA A. BHATIA MONIL D. SHAH NIKITA S. SHAH YASH H. SHAH BHUMIT D.SHAH MUBARAK BHAI R.MOMIN
INTER COMPLETE PASS RESULT FOR DECEMBER -2012
AHMED RAZA KHAN SHETH AMBAR RASIKBHAI HARSH NITINESH VYAS PRAJAPATI RAJESHKUMAR C VADGASIYA DIPAK AMRUTLAL ISHAN GAURANGBHAI PANDYA JANGIR NIRAV MAKKHANLAL SANTOSH KUMAR KHANDELWAL PARTHIK P. JOSHI HIRENKUMAR ARVINDBHAI PANCHAL TWINKLE DINESHKUMAR RAMI PATEL BHAVIKKUMAR AMRUTLAL PAREKH KENA BABUBHAI TRIVEDI ISHAN BHARAT KUMAR KHATRI HINABEN MOHANBHAI HARSHIT HARISHCHANDRA BACHANI GURJAR ALPESHBHAI BHAGVANBHAI PATEL KALPESHKUMAR PARSHOTTAMBHAI ABHISHEK SATYANARAYAN SHARMA YADAV DHARMENDRA RAMPRAKASH NOMAN ABDULREHMAN SHAIKH PATEL BHAVIK JAGDISHBHAI RAO BHARAT BABULAL JADA ASHA MANSUKHBHAI SHARMA KAVISHA RAVIDUTT BHAVSAR DAKSHA YASHVANTBHAI SOURABH KUMAR SINGHAL YASH KIRITKUMAR BHATT AMIT KUMAR GUPTA PATANSANGVEKAR RAHUL RAMESHBHAI
SHREYA DEVANG KUMAR BHATT ANUSHREE AJIT KUMAR PANDYA YADAV REEMA PREM PRAKASH PRAJAPATI TEJALBEN HASMUKHBHAI ANKUR RAMNIKBHAI SHAH URVISHA SHANTIBHAI KHACHARIA VISHALKUMAR ARVINDBHAI THAKKAR AVINASH KANAKRAY KOTHARI KORINGA AJAYKUMAR JAYANTIBHAI BHATT SONAL DILIPBHAI CHARMI VINODBHAI GUDHKA SHAH NIKET SHAILESHKUMAR SIDDHARTH SUNILBHAI TRIVEDI ANKIT DINESHBHAI PATEL VIKRANT SUNILBHAI THAKER YADAV RINKU GANESH ANANDKUMAR RAMESHBHAI PATEL PATEL MOHIT KUMAR JAYANTIBHAI SANDIP KESHUBHAI KYADA PRADEEP GAJANAN KHADGI KETAN PRAVIN CHANDRA CHAVDA TARANG PADIA THAKER NIRJAR RAJENDRAKUMAR TEJASHKUMAR RAMESHBHAI PATEL KUMARPAL RAJESHBHAI SHAH ABHISHEK VIKASKUMAR SURANA SWETA NILESHKUMAR MODI RAMI NILKANTH RAJENDRA PRASAD ANURAG BHAGIRATH SOMANI JANAVIBEN RUSHIKESH PANDYA
UPADHYAY HARSHAL UPENDRAKUMAR GANDHI YASH BHARATKUMAR RICHA PRAVINKUMAR DABGAR PANDYA KEYUR VINODBHAI KADIA KRUNAL KIRITBHAI MODI MEHUL HASMUKHLAL DHARMESH UMEDBHAI CHAUHAN ABDHI HARESHBHAI SHAH NILAYKUMAR MUKESHBHAI SHAH SANTOSH SINGH YADAV SHAH HARSH KIRITKUMAR SUTARIA JAY DUSHYANTBHAI VAGHELA MANISHKUMAR KANUBHAI RAVINDRA HARSUKHLAL MANVAR TEJAS AJITRAI TRIVEDI SOLANKI PUJAN HARESHKUMAR KALPESH MUKESHBHAI POPATIYA MODI ALAY BIPINCHANDRA MORI GOPALBHAI BHIMABHAI HITENKUMAR CHAMPAKLAL PARMAR YOGI DIPAKKUMAR RATILAL KABINDRA KUMAR CHOUDHURY GAURAV ASHWINKUMAR SUKHADIA KOTHARI MANISH RAMESHBHAI PARESHKUMAR GOVINDRAM THAKKER PRAJAPATI JIGAR PANKAJKUMAR DIVYESH VALLABHBHAI CHOVATIYA JITESHKUMAR VISHRAMBHAI PRAJAPATI PRAJAPATI RAVINDRAKUMAR KHASAJI NITESH KIRTIBHAI THAKKAR
Page - 19
Photo Gallery
Welcome speech by CMA R B Kothari – Chairman of Ahmedabad Chapter on Inauguration and
Felicitation function of Oral Coaching Batch – June-13 at Haribhai Charitable Trust auditorium on 25/06/2013.
Chief Guest Dr. P V Desai addressing the students on Inauguration and Felicitation function of
Oral Coaching Batch – June-13 at Haribhai Charitable Trust auditorium on 25/06/2013
Inauguration of Oral Coaching at Palanpur on 4-7-2013L to R Dr. M.V. Hathi - Director, Mr. G. I. Thaker - Director,
CMA R.B. Kothari - Chairman Ahmedabad Chapterand CMA P.D. Modh - Chairman & Convener Oral Coaching
Speech by CMA S S Shah – Chairman-WIRC on Inauguration and Felicitation function of
Oral Coaching Batch – June-13 at Haribhai Charitable Trust auditorium on 25/06/2013.
Chief Guest Dr. P V Desai giving away medal to meritorious students during
felicitation function on 25/06/2013.
Chairman CMA R.B. Kothari addressing students in inaugural function of Oral Coaching at Palanpur
on 4-7-2013
Chairman CMA R.B. Kothari addressing students in inaugural function of Oral Coaching at Mehsana
on 20-6-2013
Chairman CMA P.D. Modh addressing students in inaugural function of Oral Coaching at Mehsana
on 20-6-2013
If undelivered, Please Return to :The Secretary,
Page - 20
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THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
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