icai

RESEARCH PROJECTS UNDERTAKEN AND COMPLETED

1. Municipal Corporation of Delhi Project: The Project was taken up in March, 2002 had been successfully completed in May, 2006. The project related to conversion of accounts to accrual basis of accounting in the municipal bodies i.e. for the Municipal Corporation of Delhi . This project has created an expertise in a new area for Chartered Accountants, as it has sought to disseminate the research experience gathered in the form of generalized modules and technical guides. During this period ICAI ARF assisted in preparation and presentation of financial statements for the year ended 31st March, 2006, ICAI ARF was also actively involved in restructuring and refining of various budgeted heads, accounting process, setting up of Asset Information System and introduction of accrual system of accounting in the various zones of MCD.

2. Kolkata Municipal Corporation Project: Continuing the initiative to develop new areas of applied knowledge, ICAI ARF had taken up the project from Kolkata Municipal Corporation (KMC) in the month of June, 2004 for application of advance concept in financial monitoring reforms in KMC and successfully completed in the month of September, 2007. ICAI ARF contributing and assist KMC in the preparation and presentation of its final accounts, conducting various studies on business processes and training programme for capacity building etc. In the work relating to final accounts, ICAI ARF has provided a number of technical inputs which assisted KMC in dealing various problems associated with the project.

3. Electronic Commerce and Direct Taxation: The main objective of the research project was to undertake a detailed study of the electronic commerce, its significance and the issues which arise in the context of application of existing income tax laws.

4. Financial and Accounting Reforms, Capacity building and Related Strategies in Urban Local Bodies (EU Project): This project stands completed by the end of September, 2006. The project as awarded by the Delegation European Commission to the ICAI with twining arrangement with the ICAI ARF has aimed to introduce accounting and financial reforms in the City Governments in the light of European experience. The European Commission has appreciated the high quality of the outputs brought out by the ICAI ARF.

5. Strengthening Rural Decentralization (SRD) at Gram Panchayat Levels in West Bengal: ICAI ARF had undertaken and successfully completed this DFID funded project to improve the accounting, auditing, procurement and capacity building systems at the Gram Panchayat levels in the State of West Bengal

6. Issues in Accounting – Valuation of Intangibles: The Research Project is aimed to address the accounting issues in knowledge based industry with particular reference to bio-technology industry which is an emerging knowledge driven industry in India and promises a very high rate of growth. The industry based on high research and knowledge content gives rise to various types of intangible assets like patents, intellectual property rights, technical know how and human resources. The study is focused on the accounting principles, policies and practices followed for recognition, measurement and disclosure of such assets.

7. Study of Fixed Income Securities Markets in India: The overall objectives of the project was to analyze the structure development and trends in various segments of Indian Fixed Income Securities Markets viz., Central and State Government Securities Markets, Municipal and Corporate Bond Markets and Markets for Treasury Bills (TBs), Certificate of Deposits (CDs) and Commercial Papers (CPs) in order to identify major issues and suggest policy measures.