64th annual report circ of icai annual report circ of icai (1st april 2014 to 31st march 2015) (to...

64th Annual Report CIRC OF ICAI (1st April 2014 to 31st March 2015)

(To all the members of the Central India Region)

S.No.

Meeting name

Date Place

1

5th Regional Council meeting 20.04.2014 Mount Abu

2 Adjourned 5th Regional Council meeting 19.05.2014 Kanpur

3 6th Regional Council meeting 27.02.2015 Kanpur

4 7th Regional Council meeting 25.04.2015 Agra

5 7th Executive Committee 16.09.2014 Mount Abu

6 8th Executive Committee 27.10.2014 Jaipur

7 9th Executive Committee 20.02.2015 Jaipur

AGRA

BILASPUR

JAMSHEDPUR PATNA

AJMER

CHITTORGARH JHANSI RAIPUR

ALIGARH

DEHRADUN

JODHPUR RANCHI

ALLAHABAD

DHANBAD

KISHANGARH RATLAM

ALWAR

GHAZIABAD KOTA SAHARANPUR

BAREILLY GORAKHPUR LUCKNOW SIKAR

BEAWAR GWALIOR MATHURA SRIGANGANAGAR

BHARATPUR HALDWANI MEERUT UDAIPUR

BHILAI HARIDWAR MORADABAD UJJAIN

BHILWARA INDORE MUZAFFARNAGAR VARANASI

BHOPAL JABALPUR NOIDA

BIKANER JAIPUR PALI

• Branch Buildings : Out of 46 Branches in the Central region following branches have their own branch buildings:

AGRA BILASPUR JAIPUR PATNA

ALLAHABAD

DEHRADUN

KOTA RAIPUR

ALWAR

DHANBAD

LUCKNOW RANCHI

BHILAI GHAZIABAD MATHURA SAHARANPUR

BHOPAL GWALIOR MEERUT UDAIPUR

BIKANER INDORE MUZAFFARNAGAR

• Branches – Land Acquired/Under Construction :

AJMER BHILWARA JODHPUR

BAREILLY BEAWAR VARANASI

• CPE Chapters: As on 31.03.2015 there are 09 CPE Chapters in the Central Region to carry out the CPE activities for the benefit of the members.

AMBIKAPUR

KORBA

BANSWARA BHAGALPUR BHIWADI BALOTRA

MIRZAPUR RAIGARH

NOTICENotice is hereby given that 64th Annual General Meeting of Central India Regional Council of the Institute of Chartered Accountants of India will be held on Saturday the 25th July, 2015 at 4:00 PM at Hotel East Park, Agrasen Chowk, Bilaspur (CG) to transact the following business: -

1. To receive the 64th Annual Report of the Central India Regional Council of ICAI, for the year 2014-2015.

2. To receive the Auditor's Report and Audited Accounts of the Central India Regional Council of ICAI for the year ended 31st March, 2015 and

3. To transact any other business with the permission of the Chair.

For & on behalf of Central India Regional Council of The Institute of Chartered Accountants of India

Sd/-CA Vinay MittalSecretary- CIRC

Date : 17 June, 2015Place: Kanpur

SATNA

• CPE Study Groups: As on 31.03.2015 there are 39 CPE Study Groups in the Central Region to carry out the CPE activities for the benefit of the members.

BAHRAICH DUASA JHUNJHUNU PILIBHIT

BALAGHAT DUMKA KATNI RAE BARELI

BARMER FAIZABAD

KHANDWA

RAMGANJMANDI

BASTI GIRIDIH

KHARGONE

RAMNAGAR

BINA GUNA

MANDSAUR

SAGAR

BURHANPUR HANUMANGARH

MORENA

SARLANAGAR

DARBHANGA HAZARIBAGH

NAGAUR

SHAHDOL

DEOGHAR JAGDALPUR NAGDA SHAHJAHANPUR

DHAMTARI JAISALMER NAJIBABAD SINGARAULI

DHOLPUR JALORE NEEMUCH

• CPE Study Circles: At present there are 8 CPE Study Circles in the Central Region to carry out the CPE activities for the benefit of the members

FIROZABAD BULANDSHAHAR

M I ROAD JAIPUR SIKAR ROAD JAIPUR

KCAS, KANPUR JAIPUR CENTRAL CPE

MANSAROVER CPE, JAIPUR TRANS-HINDON-GHAZIABAD

• ITT Centers :

• Examination Centers :

At present all the Branches of CIRC is equipped with ITT Centers.

At present there are 49 Examination Centers in our Region :

AGRA BHILWARA GHAZIABAD JODHPUR NEEMUCH SRI GANGANAGAR

AJMER BHOPAL GORAKHPUR KANPUR NOIDA UDAIPUR

ALIGARH BIKANER

GWALIOR

KISHANGARH

PALI-MARWAR

UJJAIN

ALLAHABAD BILASPUR

INDORE

KOTA

PATNA

VARANASI

ALWAR CHITTORGARH JABALPUR LUCKNOW RAIPUR

BAREILLY DEHRADUN

JAIPUR

MATHURA

RANCHI

BEAWAR DHANBAD

JAMSHEDPUR

MEERUT

RATLAM

BHAGALPUR DUNDLOD JHANSI MORADABAD SAHARANPUR

BHARATPUR DURG JHUNJHUNU MUZAFFARNAGAR SIKAR

• Branches of CA Students' Association: At present there are following 43 Branches of CICASA

BEST BRACH AWARDS OF CIRC FOR THE YEAR 2014

S.NO CATEGORY OF BRANCHES NAME OF BRANCH CATEGORY OF AWARD

1 LARGE BRANCH

JAIPUR Star Branch of CIRC

INDORE Best Branch of CIRC

LUCKNOW Best Branch of CIRC

NOIDA Gold Branch of CIRC

JODHPUR Gold Branch of CIRC

GHAZIABAD Highly Commendable Branch of CIRC

2 MEDIUM BRANCH

BHOPAL Star Branch of CIRC

AGRA Best Branch of CIRC RAIPUR

Gold Branch of CIRC

UDAIPUR

Gold Branch of CIRC

RANCHI

Gold Branch of CIRC

PATNA

Highly Commendable Branch of CIRC

BHILWARA


KOTA


MEERUT


JAMSHEDPUR


3 SMALL BRANCH

AJMER

Star Branch of CIRC

BIKANER

Best Branch of CIRC

BHILAI

Best Branch of CIRC

ALLAHABAD

Best Branch of CIRC

BEAWAR

Best Branch of CIRC

UJJAIN

Gold Branch of CIRC

ALWAR

Gold Branch of CIRC

JABALPUR

Gold Branch of CIRC

BARELLY


SAHARANPUR


DHANBAD


KISHANGARH


GORAKHPUR Highly Commendable Branch of CIRC

MORADABAD Highly Commendable Branch of CIRC

GWALIOR Highly Commendable Branch of CIRC

4 MICRO BRANCH

RATLAM Star Branch of CIRC

BILASPUR Star Branch of CIRC

JHANSI Best Branch of CIRC

CHITTORGARH Gold Branch of CIRC

SRIGANGANAGAR Gold Branch of CIRC

PALI Highly Commendable Branch of CIRC

5TRANS HINDON STUDY CIRCLE

STAR STUDY CIRCLE OF CIRC

MANSAROVAR STUDY CIRCLE

BEST STUDY CIRCLE OF CIRC

For and on behalf of

Central India Regional Council of ICAI

CA. Vinay Mittal

Secretary- CIRC of ICAI

Place : Kanpur

Dated: 17 June 2015

Star Branch of CICASA


Best Branch of CICASA

Gold Branch of CICASA

Highly Commendable Branch of CICASA



Best Branch of CICASA







Best Branch of CICASA Gold Branch of CICASA



Large category

MEDIUM CATEGORY

SMALL CATEGORY

MICRO CATEGORY

LUCKNOW

INDORE

NOIDA

JAIPUR

GHAZIABAD

AGRA

RAIPUR

RANCHI

BHOPAL

MEERUT

JAMSHEDPUR

BHILAI

AJMER

GWALIOR MORADABAD

ALLAHABAD

MUZAFFARNAGAR

BILASPUR

CICASA AWARDS 2014

Sd/-

INDEPENDENT AUDITOR'S REPORT

Place: KanpurDate: 6-5-2015

For Dharmendra Srivastava & AssociatesChartered Accountants,

[ FRN.: 009796C]

CA Dharmendra SrivastavaSenior Partner

MEM. NO.: 077529

Sd/-

Central India Regional Council of

The Institute of Chartered Accountants of India, Kanpur16/77B Civil Lines, Kanpur-208001

BALANCE SHEET AS AT 31.3.2015 Income and Expenditure Account

For The Year Ended 31.3.2015

Sd/-CA. Vinay Mittal

Sd/-CA. Abhay Kumar Chhajed

Sd/- E. P. James

Deputy Secretary Treasurer

Secretary

Sd/-CA Umesh Kumar Garg

Chairman

As per our report of even date attached

For Dharmendra Srivastava & Associates.Chartered Accountants

Sd/-(CA Dharmendra Srivastava)

Senior Partner M.No. 077529

FRN No.009796C

Place: Kanpur. Date: 6.5.2015

Grants Received From H.O.Revenue Grant for Staff Exp.Branch Administration GrantMembership Fee GrantStatutory Audit Fee GrantBranch Chairmen Orientation Programme Grant

G.M.C.S. Courses IncomeIncome From News LetterCoaching Classes IncomeSeminar & Conference IncomeCommission of Sale of PublicationInterest on Investments

TOTAL INCOME

EXPENDITURE

Salaries & Staff ExpensesPrinting & Stationery Including Photo CopyNews Letter ExpensesRent,Rates & TaxesPostage, Telegram & TelephoneRepairs & MaintenanceTravel- Members

Magazine & PeriodicalsStatutory Audit FeeSeminar/Conference/Meeting ExpensesCoaching Classes ExpensesG.M.C.S. Course ExpensesOther ExpensesBranch Chairmen Orientation Programme Expenses

TOTAL EXPENDITURE

NET SURPLUS TRANSFER TO GENERAL RESERVE

4,269,801.91286,500.00

1,444,700.0027,000.00

750,000.00

2,518,000.0021,250.00

237,000.00

1,062,600.00

350,558.00

1,203,927.38

15,165.00

12,186,502.29

4,269,801.91

71,048.00

1,320,218.00

386,466.20

181,706.00

17,377.00

953,926.00

89,184.50

8,041.00

39,326.00

607,104.00164,869.00

1,001,627.0070,711.20

892,712.00154,238.00

10,228,355.81

1,958,146.48

13,197,496.26

13,505,726.21

4,867,910.50304,000.00

1,509,220.0027,000.00

1,051,156.00

2,155,500.0066,750.00

362,000.00

1,328,200.00

523,243.00

1,309,044.71

1,702.00

4,867,910.50

107,785.00

2,423,822.82

391,183.00

168,284.24

12,883.00

1,385,345.00

137,040.00

8,093.00

39,326.00

1,183,843.00

184,073.00980,470.5089,225.20

1,036,381.00181,831.00

308,229.95

J

K

L

J

M

31.3.2014

Rs. P.

31.3.2015

Rs. P. PARTICULARS Schedule

INCOME

Other Income

Other Income

Travel- Staff

Depreciation



Sd/- E. P. James

Deputy Secretary Treasurer

Secretary


Chairman





FRN No.009796C

Place: Kanpur. Date: 6.5.2015



GENERAL RESERVE SCHEDULE 'A'

Opening Balance as on 1.4.2014 6,259,535.99 4,301,389.51

Add: Surplus During the Year 308,229.95

1,958,146.48

Closing Balance as on 31.3.2015 6,567,765.94

6,259,535.99

31.3.2015

Rs. P. PARTICULARS 31.3.2014

Rs. P.

CURRENT LIABILITES SCHEDULE 'C'

Library Security Deposit 92,500.00 83,500.00

CICASA , Kanpur Current Account 784,437.00 728,921.00

Provision For Other Liablities 209,686.00 472,438.00

TOTAL 1,086,623.00 1,284,859.00

31.3.2015

Rs. P. PARTICULARS

31.3.2014

Rs. P.

SCHEDULE 'B'

Balance As

On 01.04.2014 ADDITION INTREST EXPENSES

Balance

As On 31.3.2015

Rs. P. Rs. P. Rs. P. Rs. P. Rs. P.

A. MEDALS & PRIZESShri S.K.Tibrewal Mem. Fund 36,828.70 - 2,846.72 - 39,675.42

Shri R.K.Seth Mem. Fund 40,468.06 - 3,128.02 - 43,596.08

B. OTHER EARMARKED FUND

Building Fund 6,742,139.30 - 521,140.90 - 7,263,280.20

6,819,436.06 - 527,115.64 - 7,346,551.70 TOTAL

PARTICULARS

EARMARKED FUND



FDRs With Punjab National Bank , MG Road, Kanpur 169,699.00

145,846.00

FDRs With Punjab National Bank , Civil Lines, Kanpur 5,585,216.00 5,154,876.00 FDRS With Standard Chartered Bank , The Mall , Kanpur 9,959,422.61 9,104,669.61

FDRs With Bank of Baroda,Civil Lines, Kanpur 3,204,853.00 2,956,484.00

FDRs With United Bank of India , Birhana Road, Kanpur 2,542,375.48

2,351,538.61

Accrued Interest On FDR 666,191.82

872,660.59

TOTAL INVESTMENT 22,127,757.91

20,586,074.81

ALLOCATED TO :Earmarked Fund 7,346,551.70 6,819,436.06Other Investment 14,781,206.21 13,766,638.75

TOTAL 22,127,757.91 20,586,074.81

31.3.2015

Rs. P. PARTICULARS

31.3.2014

Rs. P.

INVESTMENTS SCHEDULE 'E'

ADVANCE AND PREPAYMENTS SCHEDULE 'F'

Deepawali Advance to Staff 44,500.00

43,950.00

Medicalim Premium to Staff 14,029.43 10,704.93

Advance to Staff 2,000.00 -

TOTAL 60,529.43 54,654.93

31.3.2015

Rs. P. PARTICULARS

31.3.2014

Rs. P. CURRENT

33rd CIRC Regional Conference ( Recoverable from Agra Branch) 141,224.00

141,224.00

35th CIRC Regional Conference ( Recoverable from Jaipur Branch) 76,264.00

-

Amount Recoverable from B.O.S.( Sub Regional Conf. of CA Students) -

510,032.00

Branch Orientation Programme 2015 250,000.00 -

Chairman Fund 2,130.00

280.00

Sub Total 469,618.00

651,536.00

NON CURRENT

Amount Recoverable From R.N.K.Sinha 108.00 108.00

Sub Total 108.00 108.00

TOTAL 469,726.00 651,644.00

31.3.2014

Rs. P.

31.3.2015

Rs. P. PARTICULARS

OTHER CURRENT ASSETS SCHEDULE 'G'

CASH & BANK BALANCE SCHEDULE 'H'

Cash in Hand 5,159.50 7,325.50

P.N.Bank S.B. A/C No. 2324000100052906 992,765.86

1,636,454.26

Standard Chartered Bank S.B. A/C No. 622-1-003948-5 796,627.35 573,041.15 State Bank of India C.A. No. 11022171800 313,008.00 171,630.00

Yes Bank S.B. A/c No. 007394600000413 1,308,299.25-

TOTAL 3,415,859.96 2,388,450.91

PARTICULARS

31.3.2014

Rs. P.

31.3.2015

Rs. P.

OTHER INCOME SCHEDULE ' K'

Annual Lease Rent of CIRC Received From Head Office. -

9,000.00

Misc. Income 1,702.00 6,165.00

TOTAL 1,702.00 15,165.00

PARTICULARS

31.3.2014

Rs. P.

31.3.2015

Rs. P.

INCOME EXPENSES SURPLUS /DEFICITRs. P. Rs. P. Rs. P.

1 Seminar on Companies Act 28.5.14 233,100.00

199,611.00

33,489.00

2 Seminar on Companies Act 28.6.14 467,600.00 451,952.00 15,648.00

3 Seminar on Income Tax 14.8.2014 66,300.00 5,565.00 60,735.00

4 Seminar on Financing & Regulatory Env. 5.11.2014 157,500.00 66,353.00 91,147.00 5 Seminar on Corporate Law 20.12.2014 290,400.00 199,074.00 91,326.00 6 Joint Seminar With RBI 12.1.2015 10,600.00 6,027.00 4,573.00 7 Tele Conferences 1.4.2014 to 31.3.15 2,300.00 320.00 1,980.00 8 CPE National Live Webcasts 1.4.2014 to 31.3.15 32,400.00

1,524.00

30,876.00

9 Meeting,Seminr & Conf. Exp./CA Day 1.4.2014 to 31.3.15 -

92,110.00

(92,110.00)

10 CIRC Swachh Bharat Abhiyan Programmes 24.2.2015 68,000.00

161,307.00

(93,307.00)

TOTAL 1,328,200.00

1,183,843.00

144,357.00

SL.NO.

NAME OF SEMINAR/ CONFERENCE/

MEETING DATE

SUMMARY OF INCOME & EXPENDITURE ACCOUNT FOR SEMINARS, CONFERENCE & MEETING CONDUCTED BY CIRC FROM 1.4.2014 TO 31.3.2015



SALARIES & STAFF EXPENSES SCHEDULE ' L'

Salaries & Allowances 3,623,663.00 3,433,482.91 Medical Reimbursement 55,886.00 54,631.00 Uniform Washing Allowances 9,284.00 9,282.00 Transport Subsidy 328,216.00 317,962.00 Educational Allowances 73,931.00 36,810.00 Staff Welfare Expenses 57,216.00 38,298.00 Reimbursement of Conveyance 21,755.50 14,041.00 Allowance For Academic Pursuit 241,020.00 43,425.00 Employer Contribuition of P.F./ S.W.F. 402,075.00 293,634.00 LTC Expenses 54,864.00

28,236.00

TOTAL 4,867,910.50 4,269,801.91

PARTICULARS

31.3.2014

Rs. P.

31.3.2015

Rs. P.

OTHER EXPENSES SCHEDULE ' M'

Misc. & Web Site Expenses 87,285.00 68,320.00

Bank Charges 1,940.20

2,391.20

TOTAL 89,225.20

70,711.20

31.3.2015

Rs. P. PARTICULARS

31.3.2014

Rs. P.

SCHEDULE ' J'

Kanpur have charged to Income & Expenditure account as per the decision of The Executive Committee of Central Council in its 463rd Meeting held on 26.02.2007 at New Delhi.

B. Notes of Accounts:

1. Previous year figures have been regrouped where ever necessary to make the figure comparable with current year figures.

2. A Bill No. 116 dt 3.3.2009 of M/s Ameya Enterprises, Jaipur of Rs. 225750/- in relation to publication of CIRC Newsletter for the month of January & February 2009 is pending for Payment due to directions of President, ICAI ( Vide E Mail dt.5.5.2009 ) hence the said bill is not provided for in the Books of Accounts. Instead, the facts, the bill & other related papers have been forwarded by CIRC to the President, ICAI for necessary action at his end.

3. In view of the legal Notice dt. 11.5.2009 Sent By M/s Ameya Enterprises, Jaipur the Bill No. 116 dt 3.3.2009 of the Party of Rs. 225750/- in relation to publication of CIRC Newsletter for the month of January & February 2009 is considered as contingent liabilities.

4. Income earned from CIRC Newsletter advertisement is quite less as compared to CIRC Newsletter Expenses. Newsletter expenses Rs. 2423822.82 and income Rs. 66750.00 during the Year from 1st April 2014 to 31st March 2015.

Schedule of Significant Accounting Policies and Note on Accounts

Annexed To and Forming Part of Balance Sheet as at 31.3.2015

Schedule : 'I'

A. Significant Accounting Policies

1. Accounting Convention:

The accounts are drawn up on historical cost basis and have been prepared in accordance with the applicable Accounting Standards and are on accrual basis unless otherwise stated.

2. Revenue Recognition :

a. Commission on sale of publication and other income are recognized on accrual basis.

b. Income of interest bearing fixed deposits is recognized on a time proportion basis taking in to account the amount outstanding and the rate applicable.

3. Fixed Assets / Depreciation:

a. Fixed Assets are stated at historical cost less depreciation as per guidelines of the Institute.

b. Depreciation is provided on the Written Down Value method at the following rates as approved by the council based on the useful life of the respective assets:

Air conditioners & Office Equipment 15%

Furniture & Fixture 10%

Vehicles 20%

Computers 60%

c. Depreciation has been provided on monthly pro rata basis.

d. Library Books are depreciated at the rate of 100% in the year of purchase.

e. Intangible Assets (Software) are amortized equally over a period of three years.

4. Inventories:

Publication stock has been valued at transfer price of stock . Provision for obsolete or non moveable stock ,if any has to be dealt at Head Office level.

5. Terminal / Retirement Benefits

The provision for liability towards Gratuity , Pension & Leave Encashment is made at Head Office level.

6. Electricity Expenses

20% of the Electricity Expenses of the ICAI Bhawan,

Sd/- E. P. James

Deputy Secretary


Treasurer


Secretary


Chairman



Place: KanpurDate: 6.5.2015



FRN No.009796C

64th annual report circ of icai annual report circ of icai (1st april 2014 to 31st march 2015) (to...

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