baroda branch of newsletter western india regional council...

Baroda Branch ofWestern India Regional Council ofThe Institute of Chartered Accountants of India

VOL. XII JANUARY 2011lThe Institute of Chartered Accountants of India(Setup by an Act of Parliament)

N E W S L E T T E R

INDEX

`. 15/- per copy

Family Picnicon 06.02.2011

Advance

GMCS for

Members

22.1.2011

onwards

Joint

Seminar2

on IT

on

19.02.2011

Chairman's Message 3

Forthcoming Events 4

Income Tax Updates 5

India @ 75 Vision : Balance Aspirations and Resources 5

What's in store for technology in 2011? 6

GPS MAPS 7

WICASA Event 9

Cool Corner 9

Glimpses 11

JANUARY 2011Baroda Branch of WIRC of The Institute of Chartered Accountants of India 02

CA. Abhishek NagoriImmediate Past Chairman 94260 75397

CA. Rajesh ShahEx-officio 98250 41142

CA. Nayan KothariMember 98244 33445

CA. Yash BhattMember 99243 88339

CA. Viral ShahMember 98243 62211

MANAGING COMMITTEE

CA. Rahul ParikhChairman 93272 43479

CA. M J ParsiyaVice Chairman 98251 10620

CA. Pradeep AgrawalSecretary 98985 60967

CA. Ashish ParikhTreasurer 98252 31545

Dear Members,

It seems just like yesterday, when I was penning down my first message as the Chairman of this Vibrant Branch. I was brimming with ideas and dreams for the Branch which I wanted to convert into reality. We started the year with a commitment to have a “Vision Beyond Horizon”. Throughout the year, it was our endeavor to organize activities that provide members with a platform to equip themselves to convert today’s challenges into tomorrow’s opportunities. Today, at the fag end of my tenure, I have a sense of satisfaction and pride at what we have achieved during the year. In this year I was whole heartedly supported by my young and enthusiastic Managing Committee Members and by our galaxy of Past Chairmen.

The month of December saw a flurry of activities with Baroda Branch hosting a number of unique programs organized by various Committees of ICAI. The Half Day Workshop on Standards on Auditing, the Full Day Workshops on FEMA, Service Tax and Capacity Building were all very well received by members. A public program on “Business Sustainability” during the India Corporate Week 2010 was also a huge success.

Today, as I am composing this message, all of us are caught up in the 20th RRC fever at Deogarh Mahal, Rajasthan. The 20th RRC has received an overwhelming response and perhaps this is the first time in the history of Baroda Branch that we have had to close registrations for RRC so early into December, 2010. I am sure that delegates to the 20th RRC will have the memories of their lifetime at this RRC.

My successor, CA. M. J. Parasiya, Chairman-2011 has lined up exciting range of activities for our Members. I am sure 2011 will see many more new ideas and initiatives from the Team 2011.

At the end, I would like to express my sincere gratitude to all my Managing Committee Members, the entire staff of our Branch, members of various sub-committees and working groups for their untiring efforts in taking forward my initiatives. I also express my sincere thanks to CA. Amarjit Chopra, Hon. President of ICAI, CA. G. Ramaswamy, Hon. Vice President of ICAI, CA. Sanjeev Lalan, Chairman, WIRC and all Central Council Members and Regional Council Members of WIRC for the guidance and support extended to me and the Baroda Branch throughout the year.

I bid adieu to all as the Chairman, but remain committed to serve the Branch as its member.

I wish all of you a Happy & Prosperous New Year.

With warm regards,

CA. Rahul Parikh

Time does fly away quickly, but the good news is that you are the pilot

DISCLAIMER

The ICAI and the Baroda Branch of WIRC of ICAI is not in any way responsible for the result of any action taken on the basis of the advertisement published in the Newsletter. The members, however, may bear in mind the provisions of the Code of Ethics while responding to the advertisements.

The views and opinion expressed or implied in the Newsletter are those of the authors / contributors and do not necessarily reflect those of ICAI. Unsolicited articles and transparencies are sent at the owner's risk and the publisher accepts no liability for loss or damage. Material in this publication may not be reproduced, whether in part or in whole, without the consent of ICAI.

Members are requested to kindly send article / paper o f p ro fess iona l i n t e res t to [email protected]. The same may be published in the newsletter subject to availability of space & editorial editing.

EDITORIAL BOARD

CA. Rahul ParikhCA. Viral ShahCA. Gaurang ParikhCA. Vishal DoshiCA. Narendra HindochaCA. Bimal BhattCA. Ashok ThakkarCA. Neena PatelCA. Rachana Parikh

THE INSTITUTE OF CHARTEREDACCOUNTANTS OF INDIAICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi - 110002. Tel. : +91 (11) 39893989 E-mail : [email protected] Web : www.icai.org

WESTERN INDIA REGIONAL COUNCILICAI Bhawan, 27, Cuffe Parade, Post Box No. 6081, Colaba, Mumbai - 400 005. Tel. : +91 (22) 39893989 Email : [email protected] Web : www.wirc-icai.org

BARODA BRANCH OF WIRC OF ICAI“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012. Telefax : +91 (265) 2681115 / 2680593 E-mail: [email protected] Web : www.baroda-icai.org

DECENTRALISED OFFICE - VADODARA“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 390 012. Tel. : +91 (265) 2681115 / 2680593 E-mail: [email protected] Web : www.baroda-icai.org

CHAIRMAN'S MESSAGE


FORTHCOMING EVENTS

Advanced GMCS for Chartered Accountants CPE25hrs

The Baroda Branch of WIRC of ICAI is pleased to announce the Advanced General Management and Communication Course for Members of the Branch. This innovative course is designed to provide members with tools to fine tune their soft skills. The Course details are as under:

Session Timings : Session 1 02:00 p.m. to 04:30 p.m.

Session 2 05:00 p.m. to 07:30 p.m.

Dates Topics Faculties

22.01.2011 Session 1 Art of Negotiation Shri Animesh Bhatt

Session 2 Business Etiquette Mr. Robbie Mathew

05.02.2011 Session 1 Leveraging Technology to Improve Prospects and Efficiency CA. Maulik Mehta

Session 2 Drafting Skills / Achieving Sustainable Growth CA. Milin Mehta

26.02.2011 Session 1 Leadership / Team Building Skills Shri Vanraj Zala

Session 2 Developing New Skills for Seizing Ever Changing Opportunity CA. Abhishek Nagori

05.03.2011 Session 1 Organising / Managing / Attending Meetings CA. Neena Patel

Session 2 Balancing Life through Desire Management Dr. B. M. Palan

12.03.2011 Session 1 Representation before Authorities CA. Manish Shah

Session 2 Effective Communication Shri Sameer Parikh

Venue : Conference Hall, ICAI Bhawan, Baroda

Course Registration Fees : . 2000 upto 20th January, 2011 and . 2250 thereafter

Maximum Batch Size : 55 pax

` `

Half Day Training Program on Currency Derivatives CPE04

hrs

Day & Date : Saturday, 29.01.2011

Time : 02.00 p.m. to 06.00 p.m.


Fees : ` 300 up to 26.01.2011 and ` 350 thereafter

Program SpeakerCurrency Derivatives: CA. Rajiv Khatlawala,

Opportunities & Strategies Vadodara

Currency Derivatives: CA. Bhavesh Vora,

Accounting Aspects Mumbai

Currency Derivatives: CA. Mukund Bakshi,

Taxation Aspects Vadodara

Family Picnic

Day & Date : Sunday, 06.02.2011

Time : 09.00 a.m. onwards

Venue : Kabir Ranch, B/h. Sherkhi Gas Control Station, Opp. Chandan Talkies, Sindhrot Road, Vadodara.

Fees : ` 200 per adult

` 100 for children above 5 years of age.

No fees for Children up to 5 years of age.

2Joint Seminar on IT


Time : 09:00 a.m. to 05:30 p.m. (Breakfast at 08:30 a.m.)

Venue : GNFC Hall, Bharuch

Fees : ` 650 up to 15th February, 2011 and ` 750 thereaf ter ( Fees inc ludes transportation to and fro Bharuch)

Program Speaker

Inaugural SessionChief Guest Mr. Pankaj Shah, Director,

CPL India Pvt. Ltd.

Guest of Honor CA. Mahesh Sarda, Central Council Member.

1st Technical Session

Infosec – Challenges in CA. Anjay Agrawal, Changing Paradigm Mumbai

Audit in ERP Environment CA. Payal Agrawal, Mumbai

2nd Technical Session

Issues in Capital Gains CA. Manish G. Shah, Vadodara

Taxation Aspects of CA. Nandkishor Hegde, Merger and MumbaiAmalgamation

CPE06hrs

STUDY CIRCLE EVENTS

Day & Date : Tuesday, 18.01.2011

Time : 06:00 p.m. to 08:00 p.m.

Topic & Speaker : To be decided

CPE 2hrs

Venue: Conference Room, ICAI Bhawan, BarodaFees:` 100/- for Non-members

Day & Date : Tuesday, 25.01.2011

Time : 06:00 p.m. to 08:00 p.m.

Topic & Speaker : To be decided

CPE 2hrs


Workshop Series for Accountants and Staff Members of CA Firms

Time : 06:00 p.m. to 08:00 p.m.

Fees : 175 for the entire series or 50 per workshop


Dates Topics Faculties

01.02.2011 TDS Compliances CA. Samir Parikh, Baroda

04.02.2011 Checkpoints for Compliance of Audit CA. Atur Mehta, Baroda

15.02.2011 Preparation for Income Tax Scrutiny CA. Hemant Suthar, Baroda

22.02.2011 Essential Compliances under Gujarat VAT & Online Activities CA. Pragnesh Doshi, Baroda

` `

Day & Date : Friday, 21.01.2011

Time : 07:00 p.m. onwards (to be followed by dinner)


Past Chairmen Meeting


Time : 08:00 a.m. onwards

Program :

Venue : F. B. Colony Ground (Alembic-II), Gorwa, Baroda

Cricket Match with Surat Branch of WIRC of ICAI

Cricket Match



Program :

Venue : H. L. College of Commerce, Navrangpura, Ahmedabad

Rotating Shield Cricket Match with Ahmedabad Chartered Accountants Association

Cricket Match

WICASA EVENTS

Day & Date : Wednesday, 05.01.2011


Venue : SRP Ground, Makarpura, Baroda

Cricket Tournament on Tennis Ball



Venue : Vibrant Gujarat Summit 2011, Gandhinagar

Vintage Auto World Museum, Ahmedabad

Fees : . 375/- per person (including travelling cost, breakfast & lunch)`

Education Tour

Day & Date : Thursday, 13.01.2011

Time : 04:00 p.m. to 06:00 p.m.

Venue : ICAI Bhawan, Baroda

Fees : . 20/- per person`

Kite Flying Celebration with RJ of Big FM


Time : 03:00 p.m. to 07:00 p.m.

Topics

Cost of Quality & TotalQuality Management

“If You Continue To Do What You Are Doing, You Will Continue to Get What You Are Getting”

Venue : Auditorium, ICAI Bhawan, Baroda

Fees : . 50/- per person

Speakers

CA Ashish Jaiswal,Baroda

Mr. Animesh Bhatt,Baroda

`

Half Day Seminar


Time : 08:00 a.m. to 12:00 noon

Venue : Kuber Bhavan, Baroda

Fees : . 350/- per person`

Vadodara Marathon-2011


Time : 09:00 a.m. to 10:00 a.m.

Venue : ICAI Bhawan, Baroda

Flag Hoisting Ceremony


Time : 03:00 p.m. to 08:00 p.m.

Topics : One Minute Games, Dance Competition, DJ

Venue : Auditorium, ICAI Bhawan, Baroda

Fees : . 50/- per person (including dinner)`

Entertainment Evening-Welcome 2011

Day & Date : Friday, 28.01.2011

Time : 06:30 p.m. to 08:30 p.m.

Topics : Shares-An Investment Avenue & its Analysis

Speaker : CS. Manish Gandhi, Baroda


Fees : . 50/- per person `

Workshop

Drop box facility for Registration :

Members can avail drop-box facility by dropping their cheques for registration in Drop Box at 2-B Ramkrishna Chambers, BPC Road, Baroda. Kindly mention your name, membership number and the program for which registration is sought, on the backside of the Cheque.


Compiled by CA. Narendra Hindocha Income-Tax updates

1. Coersive methods of Income-tax Department

The high handed approaches and coercive methods used by the Income-tax Department are not restricted to private sector but also extend to the Statutory authorities. It is reported that in case of Greater Mohali Area Development Authority which is a Statutory Authority promoted by the State Government, Income-tax Department carried out a survey and also recovered Rs.15/- crores on the ground that although the authority was otherwise not liable to tax, it was liable to pay tax on interest earned by it.

2. Income-tax Department on receiving side

Sometimes the Income-tax Department can also be on receiving end. Courts have often blamed it for unreasonable delays in filing appeals, objections raised by Court remaining unattended, Counsels appointed by the Department not getting proper feedback on facts etc. On experiencing such inefficient functioning, Delhi High Court summoned presence of Secretary Revenue and Chairman of CBDT in case of CIT vs. Preeti N. Aggarwala (Delhi High Court) to bring these matters to their attention (Order dated 11-11-2010 in ITA 456/2007).

While some courts dismissed Department’s appeal on the ground of delay without sufficient reasons, recently in case of Commissioner of Income Tax, Kolkata-II Versus West Benga l In f ras t ructure Development Finance Corporation Limited, the Supreme Court suggested that in case of delay in filing appeal involving large stakes, the appeals of the Department should not be dismissed but the High Court may impose cost on the Department bring discipline in its functioning.

3. Care to be taken for E-filing of returns

On the positive side, along with an intimation under section 143(1) from the CPC I received statement of Common Errors in filing returns which results in avoidable tax demands.

Important matters to be taken care of, according to the statement, in brief, are given below considering that you may not have given due notice to it and due to importance of the subject;

- Even if depreciation debited to profit and loss account is same as that allowable under Income-tax Act, we should disallow the same and feed prescribed data in the software.

- Computation of income under section 115JB should be given even if tax is not payable under that section on account of unabsorbed losses etc.

- Regarding deductions under Chapter VIA, it is not enough to give total amount of deduction, but sectionwise breakup should be given and also relevant schedules 80IA, 80G etc should be filled in

- Status of the assessee such as cooperative society, firm etc should be given. In case of domestic company, there should not be failure to select the status of domestic company as otherwise, rate applicable to foreign company is charged.

- Problems are seen in Schedule CG due to incomplete or incorrect filling of Schedule CG, including incorrect apportionment of short term gain into that attracting section 111A and others as also dates of accrual of such income.

- Also in case of capital gains and other special rate income, section code, amount of income and rate applicable need to be correctly stated in schedule SI.

- In cases in which income is determined on presumptive basis under sections 44AD etc, when profit and loss account details are fed, items A4 and A33 in Schedule BP indicating amounts of income to which that section applies, should also be filled in.

- All disallowances in Schedule OI should be reflected in schedule BP also.

- Details of unabsorbed losses should be given both in schedule CFL and Schedule BFLA.

4. Online application for rectification

It appears there are large number of cases in which demands are raised in pursuance of intimation under section 143(1) which are not justified according to the taxpayers. In a first facility of this kind, now the application for rectification can be filed online on the website of the Income-tax Department. When you login, you are greeted with a link to common errors in e-filing. Then there is link to rectification manual giving instructions on how to go about it.

India @ 75 Vision :

Balance Aspirations and ResourcesBy C. K. Prahalad (Complied by CA. Bimal R. Bhatt)

India should develop a “national aspiration” and shared goal if it were to transform into a global leader by 2022, management expert Prof. C. K. Prahalad has said.

Capturing a vision for India @ 75, which is the year 2022, Mr. Prahalad told members of the Confederation of Indian Industry (CII) that India can be a major player in shaping the emerging world order through economic strength,


technological vitality and moral leadership. “Since poorna swaraj in 1929, India has never had a national aspiration which every Indian could share. A shared aspiration is fundamental for changing India. As a country, India must have high and shared aspirations”, he said.

He said that India’s aspiration should be higher than the resources. “The question that we should not ask is do we have the resources. If aspirations are higher than resources, you will innovate and thereby, change the game. The issue is not resources but the balance between aspirations and resources. It is the conscious misfit between aspirations and resources that create innovation and entrepreneurial energy”.

He also said that one cannot get to the potential of India @ 75 by extrapolating what it did in the last 60 years or even in the last 10 years. “You cannot get there (India@ 75) form here (the current status). You have to imagine India @ 75 and then fold that future in”.

Stating that incrementalism will not work, the management expert said that India should focus on the opportunities rather than looking at the constraints. By 2022, he expects India to have the largest pool of technically trained manpower anywhere in the world.

“This must be the starting point for global leadership. For this, we must universalize education. If India fails in its educational mission, the cost of my vision for India cannot be realized”.

He said that India must become the home for at least 30 of the Fortune 100 firms. “I know this is an audacious goal. But this is possible”. The other potential of India @ 75 include the country accounting for 10 per cent of world trade; becoming a big source of global innovation and becoming the world’s benchmark on how to cope with diversity.

He emphasized that India should strive for the intellectual vitality it had in the 1920’s and 1930’s.

“We should start looking at basic research as an integral part of innovation. We must celebrate the achievements of researchers as we do for bollywood stars. After all, people need recognition. Country will get only that kind of people who you recognize”.

Understanding the need for primarily market based solutions, he said that “market based” does not mean private sector alone. It could be public sector, NGOs, private sector or cooperatives. “Market based means transparency in prices, transparency in decision making, enforceability of contracts, etc”.

Stating that India need to be more data driven than ideology driven, he also stressed the need to focus on “Individual rights” rather than group rights. “We have put too much energy on group rights. We must rebalance that with focus on individual rights. We must also deal with corruption head on” he added.

(Source: The Hindu Business Line, May 2008)

What's in store for technology in 2011? Compiled by CA. Rahul Parikh

While 2010 saw the unveiling of hot products like the iPad and iPhone 4 -- as well as the widespread adoption of the Windows 7 and Android operating systems -- 2011 looks poised to build on the best of what the preceding year had to offer.

Tablets everywhere Apple's iPad was just the beginning. In 2011, expect an onslaught of competitors that want to take a bite out of Apple's near monopoly in the "pad" market.

New models from HP, BlackBerry maker Research in Motion, Motorola, Dell, Asus, Cisco, Lenovo, and others are expected to be rolled out in 2011.

While these products may not have the instant name recognition of an iPad, they'll all likely have something that the iPad doesn't: affordability.

What will Apple do in response? There are plenty of shortcomings in the iPad that could be addressed by an iPad successor.

Social networking warfare Upstarts like Facebook and Twitter took the world by storm in 2010. Will tech heavyweights like Google stand by and watch success like that go unchallenged? Unlikely.

Twitter's 140-character niche may be tough to replicate, but expect 2011 to see competitors attempt to chip away at Facebook's success. Google is currently rumoured to have a 'Google Me'

product in the wings, which is expected to give Facebook some competition in 2011. Others are likely to follow suit.

Clouds everywhere There are plenty of reasons for cloud computing to be taken seriously -- by both corporations and consumers -- in 2011.

The first is accessibility. Internet access is close to ubiquitous in many areas now, so storing your data on some server that you can reach only when online is less of an issue than it used to be.

The second, though, is cost. In an age when budgets are under the microscope, the cost of running and maintaining your own storage or servers is a factor that can feasibly be eliminated by using cloud-based applications and storage.

And finally, there's the issue of backups. Put simply, backup routines are someone else?s problem when your data is on the cloud -- and that's a good thing, since many people fail to back up their data adequately, if at all.

Storage Think big and fast in 2011. Traditional mechanical hard drives will be available in 3-terabyte (TB) capacities and larger -- and at prices that will be budget-friendly.

Speed freaks, though, will want to look at the


upcoming crop of solid state drives (SSDs), which will take full advantage of the newest 6 gigabit per second (Gb/s) SATA drive connectivity standard to pump data through your PC at roughly twice the speed of today's widespread 3 Gb/s standard.

SSDs will continue to command a price premium in 2011, but increasing capacities overall will bring down prices on the units that are currently the costliest. For those who have been waiting for SSDs to get big enough to be interesting, expect 600 gigabyte (GB) drives to appear early in the year.

Networking Networks are generally boring, but 2011 will see some exciting advances in how you get online -- and how quickly.

First, the speedy 802.11n wireless standard will become firmly entrenched in notebooks and wireless routers, making wired-like speeds widely available to notebooks and other wireless devices.

Even better, a plethora of 'three-stream' routers will hit the market, making it possible to stream different types of data across wireless spectrums, so your music listening and file downloading won't slow down your internet surfing.

For those who want the reliable speed of wired connection, the new HomePlug AV2 standard will allow gigabit networking speeds over the standard electrical wiring in your home.

USB 3.0 was unveiled in 2010, but hardly anyone

noticed. Expect that to change in 2011, as a flood of new products are unleashed that take advantage of USB 3.0's tremendous speed advantage over USB 2.0, as well as its bi-directional communication prowess.

Not only will 3.0's theoretical 10x speed advantage over 2.0 make fast external storage a reality, but its ability to send and receive data simultaneously will mean that a wide range of peripherals that bumped up against the limits of 2.0's data transfer rate will be able to adopt USB wholeheartedly. In 2011, don't buy a desktop or notebook PC that's not equipped with the improved USB standard.

Mobile shake-up Expect more choice and more tumult in the mobile space than ever before. For the first time, the smartphone market won't consist of BlackBerry and iPhone and everyone else.

Google Android-based phones and even Microsoft's Windows Phone 7 will provide real competition for the market leaders from both a price and feature standpoint.

For users, though, not everything about 2011 will be good in the world of mobile tech. Expect improvements in network speed to be slow and unsatisfactory, and expect more advertisers to begin crowding the content you get on your mobile device as well.

GPS MAPS Compiled by CA. Pradeep Agrawal (Source : Internet)

GPS History - How it all started : The Global Positioning System universally know as GPS was developed by the U. S. Department of Defense in 1973 with the decision to develop a satellite navigation system based on existing technology of the U. S. Air Force and the U. S. Navy.

In 1977 the first transmitters were installed on the surface of the Earth and tested. Between 1978 and 1985, eleven satellites were launched into space and put into position. Also in 1980, the on board atomic clocks, the most accurate timepieces in the world, were activated. Developed by physicists, atomic clocks measure time by the change in energy levels of electrons. These clocks are stable, continuous, and accurate to a nanosecond, or one-billionth of a second.

In 1983, the GPS ceased being solely a military system and was made available for public use, with a decision that the GPS system would be available free of charge to the entire world. In 1995 Full Operational Capacity (FOC) was achieved with the placement and activation of 24 satellites.

How GPS Works: GPS works anywhere on the planet where you can receive signals from the satellite. To use a GPS, a GPS receiver is required. GPS receivers are available in wide range of variety, costing from a few thousand rupees to lakhs, depending on the use.

It has many uses; navigation, surveying, vehicle tracking, hiking and outdoor recreation , employers use GPS to track their fleet of vehicles, parents use the system to keep track of small children and of disobedient teenagers, and pet lovers use it to keep track of their dogs.

How to Choose a GPS: GPS is utilized for commercial applications as well as consumer needs. Selecting a GPS will depend upon two factors “Categories of GPS configurations" and "What is your intended use?"

SOME TYPES OF GPS DEVICES.

Categories of GPS configurations:

Basic handheld GPS receivers - These are the least expensive choices for GPS .These receivers have the ability to - calculate distance traveled, record your path as a set of waypoints, to navigate routes, to retrace your steps. The main feature they lack is mapping capability.

Handheld mapping GPS receivers - These units


display maps. From your PC, you can view the maps, mark and name waypoints, and create routes. This information then can be uploaded to the GPS receiver. Mapping units are generally larger than basic units. Many mapping receivers accept memory storage cards.

Automotive - These are larger than handhelds in order to accommodate a screen large enough to be seen while driving. They are powered by the car's electrical system and because of this; they can only be used in a vehicle. Automotive units usually have voice instructions that allow you to navigate without taking your eyes off the road.

GPS for a PDA - Advantages of using a PDA as a GPS include a large screen for easier viewing of maps and voice prompts for driving directions. There are several different ways to integrate GPS with a PDA. Such as Sleeve, Compact Flash, Bluetooth, to name a few.

What is your intended use?

• Driving - For GPS use in an automobile, there are several choices: Automobile Portable, Automobile Pocket, and Automobile in Dash. You can fit a GPS device in your car and can track where your car has been, how much distance you traveled etc.

• Tracking Children- GPS devices cum transmitters are also available in small sizes which can be fitted into a shoe or a watch. These devices help you to know where your child is at any time and automatically send a message when your child goes outside a defined perimeter.

• Camping and Hiking- These GPS units are designed to be lightweight, waterproof and rugged for outdoor use for hiking, camping, and backpacking. They usually come preloaded with some maps. These receivers are battery operated and last anywhere from 10 to 22 hours depending on the model.

• Fitness and Cycling- Fitness and cycling GPS devices are such that they fit on your wrist like a watch and can track speed, distance, pace and calories burned. Cycling GPS units often fit on the stem or handlebars of a bike.

• Motorcycle- GPS units designed for motorcycles are very similar to those used for cars except that they are often waterproof, vibration resistant, and designed to fit on a motorcycle console. Bluetooth hands free technology is also popular for these devices.

• Marine -Marine GPS units typically have chart plotting functionality. They are loaded with a special marine database including marine navigational aids like buoys, sound signals, day beacons and tide data.

Key features before selecting a GPS

• Bluetooth Hands-Free Calling- This feature uses Bluetooth technology embedded in your GPS device to communicate with your blue tooth enabled cell phone so that you can make and

receive calls using voice commands direct to your GPS. You have to make sure that your cell phone carrier is compatible with your GPS unit.

• Integrated Traffic Receiver-This feature allows you to receive automated traffic alerts on your GPS device

• Turn-by-Turn Voice Direction-This feature uses text to speech technology so that your GPS unit will provide voice turn-by-turn instructions to you. In absence of this feature you will have to read the navigational instructions on the GPS display.

• Screen Size-The standard screen size for portable and pocket GPS units is now 3.5” but If you are going to be viewing your GPS from a wide angle (like mounted on your car dash at an angle) as opposed to directly in front of you or if you have poor eyesight you might consider a bigger screen size.

• Antitheft-There are various technologies that are designed to reduce theft of your GPS. One of the most common is a locking system whereby you have to enter a personalized code to get the GPS to operate.

• Automatic Rerouting-This feature refers to the ability of your GPS to provide and alternate route if your primary route is not desirable (for traffic jams for example). This feature integrates with traffic receivers so that the GPS can automatically reroute you if there are traffic problems on your primary route

• SD and CF Cards-SD and CF Card slots allow flash memory cards to be plugged into your GPS for adding additional information to your GPS database and for storing information from your GPS device as well.

• Battery Life-For portable and pocket GPS units the quality of the battery system is very important and is measured by the battery life or the amount of time you can use your GPS before you have to plug it in to recharge the batteries. You should look for battery life of 6-8 hours.

• MP3 Player-Like all electronic devices, GPS units are also beginning to provide multimedia entertainment capabilities in addition to core navigational functionality. Some of the popular GPS units now have built in MP3 players and plenty of storage so you can use your GPS to play music.

• Weight-For portable GPS units the weight is very important. The smallest units weigh only a few ounces now and can be worn on your wrist like a watch. Pocket GPS units for the car weigh around 5 Oz and portable units for the car weigh about 10 Oz.

• Size-The size of the GPS unit is measured in terms of the width (w), the height (h) and the depth (d). Pocket GPS units are typically less than 1” in depth and portable units are a couple of inches in depth.


AFK Away From Keyboard

ASAP As Soon As Possible

BBL Be Back Later

BBN Bye Bye Now

BBS Be Back Soon

BRB Be Right Back

BTW By The Way

BWL Bursting With Laughter

CYA See You Again

F2F Face to face, a personal meeting

FWIW For What It's Worth

FYI For Your Information

GFN Gone For Now

GMTA Great Minds Think Alike

GOK God Only Knows

GTSY Great to See You

H&K Hugs and Kiss

HHOK Ha, Ha-Only Kidding

HHOS Ha, Ha-Only Serious

Cool Corner

WICASA EVENT : “Pop The Question” The New Age Challenge On Current Affairs.

Compiled by CA. Nayan Kothari

IC I See

IMHO In My Humble Opinion

IMO In My Opinion

JMO Just My Opinion

JTLYK Just To Let You Know

KIT Keep in Touch

LOL Laughing out Loud

LTNC Long Time to See

OIC Oh! I See

PDS Please Don’t Shout

SYS See You Soon

TAFN That's All for Now

TOY Thinking Of You

TTYL Talk to You Later

TTYT Talk to You Tomorrow

WB Welcome Back

WTG Way to Go

JSK Jai Shree Krishna

In the era of social networking we many time come across some acronyms used either in sms or mail or in chat. I have tried to give full form of some of the short forms widely used now a days, may be of some help to you:

Objective

To cultivate habit among Chartered Accountancy students of reading daily Financial Newspapers, Business Magazines & Watching Business Television Channels and thereby Monitoring Current Affairs.

Fees : NIL

Venue & Structure: ICAI Bhawan, Kalali – Tandalja Raod, Atladra, Baroda

Round Tentative Dates Day Timings Coverage

01 25.02.2011 Friday 18.00 Hrs to 20.00 Hrs. 01.01.2011 To 24.02.2011

02 25.05.2011 Wednesday 18.00 Hrs to 20.00 Hrs. 25.02.2011 To 24.05.2011

03 25.08.2011 Thursday 18.00 Hrs to 20.00 Hrs. 25.05.2011 To 24.08.2011

04 25.11.2011 Friday 18.00 Hrs to 20.00 Hrs. 25.08.2011 To 24.11.2011

Final 25.12.2011 Sunday To Be Decided 01.01.2011 To 24.12.2011

Rules:

1. Various participants will be there in each round. In case of more than eight entries, decision of Organizers will be final.

2. Once you have participated in any one round you cannot re-contest in the future rounds.

3. Winners of Rounds 01 to 04 will be eligible for final round.

4. Questions will be from Daily Financial Newspapers, Business Magazines, and Business Television Channels.

5. Participants will have to give a brief speech on the Current Affairs and few questions will be asked to them based on their speech.

6. Eminent personalities (Practicing CAs and Industrialists) will act as Judges.

7. Organizers reserve all rights and their decision will be final in case of any dispute.

Prizes:

The program is conceptualized by CA Sanjeev Shah, Past Chairman of Baroda Branch of ICAI and Prizes & Trophies for all the rounds will be sponsored by him.

1. There will be three winners in each round provided there are more than five participants in each round, otherwise two winners out of three or one winner out of two participants.

2. Winners of all 4 Rounds will be given certificates and prizes.

3. Winners of Final round will be awarded by Trophy/Prize and Certificate


CA. Rajiv D KhatlawalaManaging Director

Value Academy Pvt Ltd.Trade


GLIMPSES

CA Arvind Chavla, Indore

CA Savan Godiawala, Ahmedabad

CA Shardul Shah, Regional Council Member

CA Hiren Shah, Ahmedabad

FULL DAY WORKSHOP ON SERVICE TAX ON 18.12.2010

CA Pradip Shah, Ahmedabad

CA Bakul Mody, Mumbai Shri T. N. C. Rajgopalan, Baroda

CA Aniruddh Sonpal, Baroda Adv. Saurabh Dixit, Baroda

FULL DAY WORKSHOP ON CAPACITY BUILDING MEASURES FOR CA FIRMS & NEW PROFESSIONAL AVENUES ON 25.12.2010

CA Milin Mehta, Baroda CA Niranjan Joshi, Mumbai

CA Manish Baxi, Baroda CA Abhishek Nagori, Baroda

Shri Hardik Joshi, Mumbai Shri Nitesh Shah, Mumbai

HALF DAY WORKSHOP ON PRACTICAL ASPECTS OF STANDARDS OF AUDITING ON 04.12.2010

INDIA CORPORATE WEEK PROGRAM ON SUSTAINABILITY OF BUSINESS ON 20.12.2010

CA Mayur Swadia, Baroda CA Bimal Bhatt, Baroda

Adv. Tushar Vyas, Baroda speaking on “Alternative Dispute Resolution Method” on 14.12.2010

Shri K. Neethi Raghavan, DGM, Foreign Exchange Dept., RBI

FULL DAY SEMINAR ON FEMA ON 11.12.2010

STUDY CIRCLE EVENTS

Shri Bhavesh Patel, Baroda speaking on “Product Pricing & Costing Issues in Pharma Industry”

CA. S. B. Sonawala, Mumbai

CA. Mitesh Kataria,Mumbai

5,000

3,000

Full Page (Single Color)

Half Page (Single Color)


If undelivered, please return to :

Baroda Branch of WIRC of The Institute of Chartered Accountants of India“ICAI Bhawan”, Kalali-Tandalja Road, Atladra, Vadodara - 12. Telefax : 0265-3266489 E-mail: [email protected] [email protected] ICAI: www.icai.in

l l l WIRC : www.wirc-icai.org

* Discount - 3 to 6 issue of 10%, 7 to 12 issue 15%* Circulated to more than 1300 Chartered Accountants

Back Cover (Multi color)

Inside Front Cover (Multi color)

Inside Back Cover (Multi color)

Newsletter (Per Issue ` )

10,000

7,500

7,500

Newsletter (Per Issue ` )

Congratulations to CA. Milin Mehta on being appointed as a member of the Accounting Standards Committee of the Central Board of Direct Taxes, Ministry of Finance.

Joint Seminar with M. S. University on “Emerging Trends in Accounting, Finance & Taxation” on 04.12.2010

Guest of Honour Shri Devang Nanavati, Advocate, Ahmedabad, Dignitaries of the M. S. University, Baroda, Baroda Branch of WIRC of ICAI and Baroda Branch of WICASA on the dais in the Inaugural Session

Shri Devang Nanavati, lighting the lamp Guest of Honour, Cross-section of the Audience

Prof (Dr.) Ramesh Goyal, Vice-Chancellor, M. S. University, Chief Guest addressing the delegates

baroda branch of newsletter western india regional council...

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