Accountancy
Blinkered.com
ACCOUNTING is usually seen as a post-mortem operation. As in the case of cops who arrive at the scene of action after all the action is over, bean-counters are invited to answer the roll-call when it is time to clear the crumbs. So, it is not incongruous
to find the latest issue of the CA journal announcing its new guidance note on accounting by dotcom companies when such companies themselves are fighting hard to survive.
Tied to the NPA stake
``YOU borrow in lakhs from a bank, you are in trouble with the bank; you borrow in crores, the bank is in trouble with you.'' While the first part of this aphorism may be an exaggeration or at best a puffery, the second limb has an ominous and real ring
for banks and financial institutions (FIs) in this country, especially now that the entire nation is waking up to the potentially deleterious consequences of non-performing assets (NPAs).
Countdown to convergence -- II
EXPLORING the implications of the potential differences between IASC-based and US GAAP filers, the FASB has expressed its belief that it was appropriate for the SEC to consider the extent to which the IASC might contribute to improving the quality of cro
ss-border financial information reported (that is, the information contained in the financial statements of foreign private issuers) in the US markets.
Economy
Are we happier now than 10 years ago?
IN THE article ``A decade of reforms: Where to now'' (Business Line , July 25), Prof Brahmananda has urged the compilation of statistics relating to increase in crime, the rate of increase in accidents, the rate of growth of disruption in normal activiti
es due to public discontent, the rate of growth of mortality in hospitals, and so on. I presume the intention is to assess the extent of satisfaction or happiness among the people of India in different time periods so that a judgment can be arrived at on
the efficacy of public policies. This is indeed a valuable suggestion and requires to be followed either by a Government agency or the ICSSR.
Editorial
Deserved downgrade
TRUE TO THEIR hoary tradition, officials and bankers have filed for future reference the downgrade of India by Standard & Poor's even as the US-based rating agency has with some candour panned the Indian economy.
Health
Restoring medical system to health
THE health needs of a large section of the population remain unmet, with access to inexpensive and assured medical care for the poor posing a big challenge to the authorities. In this background, the issue of essential medical equipment lying out of kilt
er in the prestigious All-India Institute of Medical Sciences (AIIMS) naturally evoked the concern of the members of Parliament.
Insurance
Future of banking and insurance
REFORMING the financial sector is central to second-generation reforms. This covers three important segments -- banking, insurance and the capital market. Some reform has already taken place in the capital market, though strengthening the institutional m
echanism to prevent unethical practices is receiving the Government's attention. The latest to be opened up for private investment, including foreign direct investment, is the insurance sector.
Miscellaneous
Unaccountable
ANALYSTS, financial pundits, legal luminaries, retired policemen, administrators and a host of others are on a high, creating sound bytes and pouring copious ink on paper galvanised by two events: One, the sensational derailment of the US-64, the gravy t
rain of the middle-class. And, two, a most forgettable routine drill of transfer of government officers.
Why woman gets `special' treatment
IN THE last few weeks the western media has been obsessed with the unpleasant incident involving a New York celebrity-publicist Lizzie Grubman, who runs a public relations firm in Manhattan. Of the city's nouveau riche, the 30-year-old woman has been the
centre of media attention for some time, both in the glitz press and the gossip columns.
One down, captain?
THE Indian team, they say, reflects the spirit of India. I entirely agree but not quite in the sense that pundits normally mean it. Imagine the plight of the Indian captain.
