Faculty development programme throws light on the latest developments in the field of accounting and commerce
Faculty members from Jain University and beyond got acquainted with recent changes in the laws regulating the world of commerce and accountancy at a day long Faculty Development Programme organized at the School of Commerce and Management Studies. The programme discussed latest legal development and the implications it could have on teaching and academics. The programme was attended by more than 140 participants from various colleges and universities. Its objective was to help academicians understand implications of various amendments in Accounting, Auditing, Taxation, and Company Laws and to appraise the academicians about Indian Accounting Standards, Companies Act 2013, Income Computation Disclosure Standard and Goods and Service Tax implications.
The seminar opened with a session by Asha M, working in the Accounting Advisory Services division of KPMG. She has been assisting listed clients on the changing regulations including IFRS Conversion Challenges & Companies Act 2013 implementation. It also threw light on the new Income Computation and Disclosure Standards (ICDS) for computation of taxable income. The first session was followed by a talk on IFRS/Indian Accounting Standard journey and practical implementation challenges by Rahul Chowdhary, a certified CA who is at present acting as a PMO for the CBDT constituted Committee on ICDS/ Indian Accounting Standards implementation issues. The third and fourth session discussed how these changes would impact teaching.