news details |
|
|
| Conference on accrual based accounting held at New Delhi | | | EARLY TIMES REPORT
NEW DELHI, JUNE 21: Highlighting the importance of migration of Government accounts from cash to accrual based accounting- the biggest financial reform after Independence- the Jammu and Kashmir Finance Minister Mr. Abdul Rahim Rather has said that the state has prepared a pragmatic road map to complete the migration process by the end of March 2015 as per the recommendations made by GASAB.
Speaking at the one day National Conference on Accrual Based Financial Reporting held at New Delhi, Rather while giving power point presentation on the achievements made by J&K State in migrating to accrual based accounting, said that the Jammu and Kashmir State has made a spectacular headway in this regard though the process was started only recently in January 2010.
Rather said that the State Public Sector undertakings PSU’S have migrated to accrual based accounting whereas the Municipal Corporations and Urban Local bodies (ULBS) of Jammu and Srinagar have made appreciable progress in migration towards accrual based accounting.
The conference was inaugurated by Union Finance Minister Pranab Mukherjee and attended by Comptroller and Auditor General of India, Finance Ministers and Finance Sectaries of all the states of the Country.
The Union Finance Minister while appreciating the presentation given by Rather said that this presentation would be circulated among all the states of the country as a road map for migration from cash to accrual based accounting.
Rather said that being a new idea, it requires a political commitment, administrative planning and financial resources. He said the Comptroller and Auditor General must also share best practices from different parts of the country to make this exercise meaningful.
Explaining the contours of the strategy adopted by the State Government for switching over to this new financial reform, Rather said four major initiatives have been taken which include setting up of Task Force at the State level in selected departments, technical preparedness to train accounting staff, administrative preparedness and testing the system on pilot basis in PSU’S and the departments of Housing and Urban Development and all Municipal Bodies.
Rather ought guidance and support from the GASB secretariat in the process of appointing a State Level Consultant to oversee
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
