Mail News Service
Jamshedpur, July 26: The Jamshedpur chapter of Institute of Chartered Accountants of India (ICAI) today, along with its Annual general Body Meeting, organized a webinar for its members on Accounting Standards. The keynote speaker on the occasion was Mumbai�s CA Khusro Panthaki. Rishi Arora presided the programme and was conducted by secretary Sugam Saraiwala.
Khusro Panthaki elaborated on the area of common mistakes that occurred in the process of preparing the financial reports of businesses that included profit loss accounts and balance sheets. Such errors tended to project a wrong impression of a business� financial health which depended on its accounting procedures. He said that all regulatory accounting procedures were to be followed immaculately to lend credence to financial reporting. Panthaki said that the FRRB from time to time, had opened up on errors that emanated out of wrong accounting figures or procedures which reflected inaccurate financial stature of business. As such, Khusro Panthaki stated that it was important that the Chartered Accountants� fraternity were made aware of the common lacunas so that such mistakes were not repeated in future accounting procedures.
Khusro Panthaki stressed that important investments were made based on the accurate projection of accounts and audited reports drawn on such projected accounts. Therefore, he elucidated that business houses should draw up their financial profiles carefully and the CAs should be careful in projecting the perfect accounted figures.
More than 150 ICAI members of the city participated in the webinar. The vote of thanks was offered by Siddharth Khandelwal. The organizing team comprised Vikas Agrawal, Pankaj Shingari, Yogesh Sharma, Vinod Saraiwala and other Jamshedpur chapter members.
The general body meeting commenced with the welcome address to members by ICAI Jamshedpur chapter chairman Sanjay Goyal. Secretary Sugam Saraiwala presented the minutes of the previous meeting and detailed the body�s activities through the last fiscal. Treasurer Siddharth Khandelwal presented the statement of accounts of the last financial year which was adopted unanimously. Among those who participated in the meeting were CAs Bhushan Agrawal, Prabhat Sakseria, Jagdish Khandelwal, Pankaj Shangari, Dinesh Chowdhary, Gopal Harlalka, Vinit Mehta and Manish Moonka.
