baroda branch of · the baroda branch of the western india regional council of the institute of...

th44 Annual Report 2010-11

The Institute of Chartered

Accountants of India

Baroda Branch of WIRC of ICAI

th44 ANNUAL REPORT 2010-11

BARODA BRANCH OFTHE WESTERN INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTICE

Notice is hereby given that 44th Annual General Meeting of the Members of the Baroda Branch of the Western India Regional Council of the Institute of Chartered Accountants of India will be held on Thursday, 30th June 2011 at 6.00 p.m. at ICAI Bhavan,Kalali-Tandalja Road, Atladara, Vadodara-390012 to transact the following business:

1. To receive and adopt the report of Managing Committee for the year 2010-2011

2. To receive and adopt the Auditors' Report and Audited Accounts for the year ended on 31st March, 2011

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

For Baroda Branch of WIRC of ICAI

CA. Ashish ParikhSecretary

Place: VadodaraDate: 1st June, 2011

th44 Annual Report 2010-11


1

The Baroda Branch of the Western India Regional Council of the Institute of Chartered Accountants of India is pleased to present its 44th Annual Report of Managing Committee for the period from 1st June 2010 to 31st May 2011 and the accounts for the financial year ended on 31st March, 2011.

Since last several years, Baroda Branch has been consistently acknowledged as one of the Best Performing Branch by the ICAI. A number of activities are undertaken round the year for benefit of its members and students at large. Involvement from members as well as students has remained encouraging throughout the year.

Year 2010-2011 was a successful year as branch is working under the best environment and abeyance of 17000 sq. ft. of "ICAI Bhawan" and number of activities of students and members are being organised in systematic manner.

Further we have received the “Highly Commendable Branch Award” at National level and “Best Branch Award” at Regional level. We also won the “Best Branch Award for WICASA” at ICAI level as well as Regional level.

Over the four decades, activities of Baroda Branch are diversifying manifold. Over and above the regular activities of the Branch like Conferences, Seminars, Lecture Meetings, Workshops, Sports and Cultural Activities, the branch has successfully taken several initiatives such as the successful launch of the financial assistance scheme for needy students, VITCOS City Bus facility on Station to ICAI Bhawan route with ICAI Bhawan name plate, E-payment facility on its website for program registration and has become first branch to have such facility, Members Directory 2011 Project after six years of its last edition of 2005 etc. All such unique initiatives have been highly appreciated by the members and public at large.

We wish to place on record our sincere appreciation and gratitude to the following persons who have made it possible to conduct various activities of the Branch:

l Chairmen, Faculties and Members at various Seminars, Conferences, Refresher Courses, Workshops, Lecture Meetings, GMCS Course for CA Final Students, Information Technology Training, Orientation Program for IPCC students, Classroom Training Centre and other courses for sparing their valuable time for the cause of the profession.

l Co-opted members of various committees and working groups of the Branch.

l The various contributors to the Newsletter for making it more informative and interesting.

l Statutory Auditors of the Branch M/s. Amin Parikh & Co. Chartered Accountants.

l Internal Auditors of the Branch M/s. Dalal Shastri Rana & Co. Chartered Accountants.

l Axis Bank, Race Course Branch and State Bank of India, Alkapuri Branch, Vadodara.

l Various professional and other organizations for their co-operation and assistance in organizing programmers.

l Mr. Ketan Kharva, Mr, Amit Shah, Mr Jagadish Prajapati, Mr K.C Rajput, Mr Prakash Parmar, Mr. Dharmesh Shah, Mr. Jitendra Jat, Mr. Yuvraj Gohil, Ms. Sonal Patel & Mr, Amar Baswa – staff of the Branch for their continued dedicated efforts and hard work throughout the year.

l The printers for their timely printing of Newsletter and other materials through the year.

l Advertisers in the Newsletter and other publications.

l Various agencies for providing best services to Baroda Branch of WIRC of ICAI.

lThe Press and Media for their support.

CA. Manilal Parsiya CA. Pradeep AgrawalChairman Vice-Chairman

CA. Ashish Parikh CA. Nayan KothariSecretary Treasurer

Baroda, 1st June, 2011

REPORT OF THE MANAGING COMMITTEEOF THE BARODA BRANCH OF WIRC OF ICAI FOR YEAR 2010-11


2

MANAGING COMMITTEE BARODA BRANCH OF WICASA

Chairman Mr. Amit Muley Vice-ChairmanMr. Nandan Soni SecretaryMs. Priyanka Thakkar Treasurer CA. Ashish Parikh Ex-officio Ms. Sheekha Kotak MemberMr. Ravi GandhiMs. Anshul Bhatia

CA. Pradeep Agrawal

MemberMember

MANAGING COMMITTEE OFBARODA BRANCH OF WIRIC OF ICAI

CA. Nayan Kothari

CA. CA. CA. Arpan Dodia

BARODA STUDY CIRCLE

CA. Yash Bhatt ConvenerCA. Dhiren Parikh Co-ConvenerCA. Kejal Pandya Co-Convener

CA. Manilal Parsiya ChairmanCA. Pradeep Agrawal Vice-ChairmanCA. Ashish Parikh Secretary

TreasurerCA. Rahul Parikh Member - Imm. Past ChairmanCA. Rajesh Shah Ex-Officio WIRC Member

Yash Bhatt MemberViral Shah Member

Member

CPE

Sr. Date Attendance

1 02.06.2010 9

2 16.06.2010 9

3 21.07.2010 8

4 17.08.2010 8

5 30.08.2010 8

6 04.10.2010 8

7 29.10.2010 8

8 02.12.2010 8

9 27.12.2010 9

10 18.01.2011 9

11 16.02.2011 7

12 22.02.2011 8

13 26.03.2011 8

14 04.04.2011 9

15 11.05.2011 9

Sr. Date Attendance

1 25.06.2010 7

2 05.07.2010 7

3 22.07.2010 7

4 28.08.2010 7

5 04.09.2010 7

6 28.09.2010 7

7 25.10.2010 4

8 15.11.2010 4

9 27.11.2010 7

10 06.12.2010 7

11 18.12.2010 8

12 01.01.2011 7

13 03.02.2011 7

14 01.03.2011 7

15 16.05.2011 7

16 31.05.2011 7

WICASA MANAGING COMMITTEE MEETINGS

MANAGING COMMITTEE MEETINGS

ATTENDANCE CPE HRS.

Symbols in the report indicates


3

ACTIVITIES HELD FROM JUNE 2010 TO MAY 2011

CONFERENCES

WIRC CONFERENCE FOR MEMBERS IN INDUSTRYDay & Date : Saturday, 12.06.2010 Venue : Hotel Gateway, BarodaSUBJECT

Inaugural Session - Key Note Address on "Current Scenario of Mergers & Acquisitions - The Way Ahead"

Panel Discussion on the Role of Audit Committee & Corporate Governance

How Direct Tax Code will affect Corporate India

Challenges on Implementation of GST

Issues on Transition to IFRS

WIRC CA. STUDENTS' REGIONAL CONFERENCE

Day & Date : Friday & Saturday, 09.07.2010 & 10.07.2010Venue : Hotel Surya Palace, Baroda

SUBJECT

Inauguration & Key Note Address

Technical Session on Direct & Indirect Taxes

Special Session on Winning Strategies in Life

Technical Session on Financial Management

Technical Session on Accounts & Audit

Special Session on IFRS Conversion in India - Developments till date

Technical Session on Information TechnologySpecial Session on "Visualize Opportunities in Challenges"

Valedictory Address

SPEAKERS

Guest of Honour: CA. Gautam Doshi, Group Managing Director, Reliance ADAG, Mumbai

Panel Moderator: CA Ganesh Ramamurty, Mumbai.

Panelists: CA. Khushroo Panthaky, Mumbai, CA. Vardhan Dharkar, CFO, KEC International Ltd., CA Kaushik Patel, Ahmedabad

CA. Hitesh Gajaria, Mumbai

CA. Bhavna Doshi, Central Council Member, Mumbai

CA Akeel Master, Mumbai


SPEAKERS

CA. G. Ramaswamy, Hon. Vice-President, ICAI

Chairman of Session - CA. Jayant Gokhale

CA. V. Murli, Vice Chairman, Board of Studies

Chairman of Session - CA. Sunil Goyal, Past Chairman, WIRC

Chairman of Session - CA. Rakesh Agrawal, Mumbai

CA. Rakesh Agrawal, Mumbai

Chairman of Session - CA. Atul Bheda, Central Council Member, Mumbai

Shri Snehal Desai, Management Trainer, Ahmedabad

CA. Atul Bheda, Central Council Member, Mumbai & Shri Vijay Kapur, Director, Board of Studies, ICAI

714119

--512

WIRC ACCOUNTING AND TAX CONVENTIONDay & Date : Friday, 22.04.2011Venue : Auditorium, ICAI Bhawan, Baroda

SUBJECT

Inaugural Session : Chief GuestGuest of Honour :

Ind AS - an Overview

Recent Judgements with reference to Accounting & Tax

Taxation of Executive Remuneration, with special emphasis on Cross Border movements

Taxation of Real Estate Transactions

SPEAKERS

CA. G. Ramaswamy, Hon. President, ICAICA. Jaydeep Shah, Vice-President, ICAI

CA. Manoj Fadnis, Indore

CA. Dhinal Shah, Ahmadabad

CA. Vishal Gada, Mumbai

CA. Narendra Hindocha, Vadodara

1374231

4


SEMINARS

HALF DAY SEMINAR ON STATUTORY & TAX AUDITDay & Date : Monday, 30.08.2010Venue : Hotel Surya Palace, Baroda

SUBJECT

Key Note Address

Important Aspects of Tax Audit u/s 44AB of IT Act

Issues in Statutory Audit under Companies Act

SPEAKERS

CA. Amarjit Chopra, President, ICAI

CA. K. D. Shah, Ahmedabad

CA. Mayur Swadia, Baroda

456152

FULL DAY SEMINAR ON ASSESMENTS & APPELLATE PROCEDURES

Day & Date : Saturday, 27.11.2010Venue : Auditorium, ICAI Bhawan, Baroda

SUBJECT

Keynote Address

Assessments, Reassessments, Revisions & Rectifications

Submissions & Representations before CIT(A)

Procedure & Preperat ion of Appeals & Representation before ITAT

Mock Tribunal

SPEAKERS

Shri Amit Goradia, Chairman, Jewel Consumer Care Pvt. Ltd.

CA. Amar Shah, Baroda

CA. Jayant Gokhale, Chairman, Direct Taxes Committee of ICAI

Adv. Rajul Patel, Ahmedabad

CA. Jayant Gokhale, CA. Milin Mehta, CA. Mukund Bakshi, CA. Bhavin Marfatia, CA. Yash Bhatt, CA. Manish Baxi, CA. Nikita Brahmbhatt, Mr. Suril Mehta

1134189(Organized by the Direct Taxes Committee of ICAI)

FULL DAY SEMINAR ON FEMA


SUBJECT

Key Note Address

Overview of FEMA - Introduction & Framework / Definitions & Concepts under FEMA

Remittance Facilities for Residents & Non-Residents

Inbound / Outbound Investments

Borrowings under FEMA

SPEAKERS

Shri K. Neethi Raghavan, DGM, Foreign Exchange Dept., Reserve Bank of India

CA. Savan Godiawala, Ahmedabad

CA. Shardul Shah, Regional Council Member, Mumbai

CA. Hiren Shah, Ahmedabad

CA. Yash Bhatt, Baroda

744124(Organized by the Committee on Economic & Commercial Laws and Trade Laws & WTO of ICAI)

5


FULL DAY SEMINAR ON SERVICE TAX


SUBJECT

Service Tax Audit - A Professional Opportunity

Service Tax on Construction Services & Works ContractRecent Issues on Cenvat Credit

Import & Export of Services / Refund & Exemptions in Service Tax

Panel Discussion - Recent Issues in Service Tax

SPEAKERS

CA. Arvind Chawla, Indore

CA. Pradeep Shah, Ahmedabad

CA. Bakul Modi, Mumbai

Shri T. N. C. Rajgopalan, Baroda

Panel Moderator - CA. Anirudh Sonpal, BarodaPanelists - CA. Bakul Modi, MumbaiPanelists - Adv. Saurabh Dixit, Baroda

834139

(Organized by the Indirect Taxes Committee)

FULL DAY SEMINAR ON CAPACITY BUILDING MEASURES FOR CA FIRMS AND NEW PROFESSIONAL AVENUES


SUBJECT

Small & Medium Practioners - The Future

Capacity Building Measures - Networking, Merger and Corporate Form of Practice

Emerging Areas for the New Age Professional

Practice Management

Presentation on KDOC & E-Sec Softwares supplied by ICAI

SPEAKERS

CA. Milin Mehta, Baroda

CA. Niranjan Joshi, Mumbai

CA. Manis Baxi, Baroda

CA. Abhishek Nagori, Baroda

Mr. Nitesh Shah & Mr. Hardik Joshi from Hazel Infotech Ltd.

672112

(Organized by the Committee for Capacity Building of CA Firms and Small & Medium Practioners of ICAI)

HALF DAY PROGRAM ON CURRENCY DERIVATIVES

Day & Date : Saturday, 29.01.2011Venue : Conference Hall, ICAI Bhawan, Baroda

SUBJECT

Currency Derivatives: Opportunities and Strategies

Currency Derivatives: Accounting Aspects

Currency Derivatives: Taxation Aspects

SPEAKERS

CA. Rajiv Khatlawala, Vadodara

CA. Bhavesh Vora, Mumbai

CA. Mukund Bakshi, Vadodara

12030

6


FULL DAY SEMINAR ON IT2 (INFORMATION TECHNOLOGY AND INCOME TAX)

Day & Date : Saturday, 19.02.2011Venue : GNFC Auditorium, Bharuch

SUBJECT

Chief Guest

Guest of Honour

Infosec Challenges in Changing Paradigm

Data Mining and Audit Tools

Issues in Assessment, Reassessment and Post Assessment Proceedings

Issues in Capital Gain

SPEAKERS

Shri Pankaj Shah, Director Gujarat Paguthan Energy Pvt. Ltd.

CA. Mahesh Sarda, Central Council Member, ICAI

CA. Anjay Agrawal, Mumbai

CA. Nikunj Shah, Mumbai

CA. N. C. Hegde, Mumbai

CA. Manish Shah, Vadodara

52287

(Jointly with Bharuch Branch)

FULL DAY SEMINAR ON BANK BRANCH AUDIT


SUBJECT

Audit Planning

Audit of Advances

Long Form Audit Report

Inbuilt Audit Trails in CBS

SPEAKERS

CA. Rashmi Thakkar, Vadodara

CA. Abhay Kamat, Mumbai

CA. Abhijit Sanzgiri, Mumbai

Mr. K. Balram, Mr. P. K. Jain, Ahmadabad

1077238

SEMINAR ON PROTECT YOUR DIRECTOR

Day & Date : Wednesday, 11.05.2011Venue : Chandarva, Welcome Hotel, R C Dutt Road, Vadodara

SUBJECT

Expectations from a Director - An Industry Perspective

Independent Directors; Evolving Scenarios

Boards - Challenges; Protection & Pitfalls

Global perspective of exposure/s to Boards

Q & A Session followed by Concluding Remarks

SPEAKERS

CA. Bimal Bhatt

Mr. Ashish Kumar,Company Secretary

Mr. Kiran Kumar

Mr. Anup Dhingra

Mr. A N Poddar

120100(Jointly with Confederation of Indian Institute)

HALF DAY SEMINAR

Day & Date : Wednesday, 21.05.2011Venue : Conference Hall, ICAI Bhawan, Baroda

SUBJECT

AS for SMEs and Non-corporate Entities

SPEAKERS

CA. Rashmi Thakkar CA. Alok Shah

9331

7


RESIDENTIAL REFRESHER COURSE & CONVENTION

TH20 RESIDENTIAL REFRESHER COURSE

Day & Date : Friday to Tuesday , 06.01.2011 to 10.01.2011Venue : Deogarh Mahal, Deogarh, Rajsamand District Rajasthan.

SUBJECT

Chief Guest

Technical Papers

Business Plan and Financial Modelling

Accounting, Audit and Taxation aspect of LLPs

Fair Value Concept in IFRS

Group Discussion on

- Income Tax

- Accounts & Audit

Brain Trust Session

- Income Tax

- Service Tax

- VAT

SPEAKERS

Raosaheb Naharsinhji

CA. Sanjeev Shah, Vadodara

CA. Bhailal Patel, Ahmadabad

CA. Bharat Gajjar, Vadodara

CA. Bhagirath Biyani, Jothpur

CA. O. P. Maheshwari, Jodhpur

CA. Sanjiv Jhanwar, Jaypur

CA. F. A. Hiranandani, Gandhidham

CA. Rashmi Acharya, Vadodara

1084105

RD3 INTERNATIONAL STUDY TOUR

Day & Date : Friday to Tuesday , 02.08.2010 to 13.08.2010Venue : Thailand, Malaysia & Singapore

SUBJECT

Overview of IFRSInterpretation of StatutesAvenues for International Finance

SPEAKERS

CA. Gaurang Parikh, BarodaCA. Vikas Manohar, BarodaCA. Dhirendra Shah, Baroda

1084105

8


LECTURE MEETING

Day & Date : Wednesday, 16.07.2010

SUBJECT

Winding-up with special reference to Easy Exit Scheme- 2010, under Companies Act, 1956

Penalties & Rectifications with reference to Company Law Settlement Scheme-2010

SPEAKERS

CS. Sushil Samdani, Past Chairman, Baroda Chapter of ICSI

CS Niraj Trivedi, Chairman, Baroda Chapter of ICSI

5226

INDIA CORPORATE WEEK 2010 PROGRAM

SUBJECT

Role of Internal Audit & Audit Committee in supporting business sustainability

Shareholder Activism in Corporate Governance

SPEAKERS


CA. Bimal Bhatt, Baroda

272136

Day & Date : Monday, 20.12.2010

CLAUSE TO CLAUSE ANALYSIS OF BUDGET 2011

SUBJECT

Analysis of Indirect Tax Proposals

Analysis of Direct Tax Proposals

SPEAKERS

CA. Anirudh Sonpal, Vadodara

Shri Saurabh Soparkar, Advocate, Ahmadabad

448231Day & Date : Wedneday, 02.03.2011

LECTURE MEETING

SUBJECT

Geeta Beyond Intelligence

SPEAKERS

CA. Jaydev Jani, USA

6231

Day & Date : Tuesday, 22.03.2011

LECTURE MEETING

SUBJECT

Service Tax & Cenvat Credit Recent Changes and Amendments

SPEAKERS

CA. Anirudh Sonpal, Vadodara

6834

Day & Date : Saturday, 23.04.2011

LIVE SCREENING

SUBJECT

Live Screening of Budget 2011

SPEAKERS

----

44110


9


WORKSHOPS


SUBJECT

Issues relating to deduction of tax at source and disallowances under Section 40(a)(i) and 40(a)(ia).

Penalties u/s 271(1)(c) & in Survey, Search & Seizure Cases

SPEAKERS

CA. Bhavin Marfatia, Baroda

Adv. Mehul Patel, Ahmedabad

33684

VISION & PERSPECTIVE PLANNING WORKSHOP

SUBJECT

Suggestions regarding the ICAI Vision Document for next 3 years

SPEAKERS

---

--21

Day & Date : Friday, 18.06.2010

DIRECT TAX REFERESHER COURSE : PART - 3


SPEAKERS

CS. Chirag Shah, Ahmedabad

CS. Manoj Hurkat, Ahmedabad

CS. Devesh Pathak, Baroda

14035

COMPANY LAW REFRESHER COURSE : DAY - 1

SUBJECT

Management & Administration of Companies

Transactions with Related Parties

Secretarial Compliance Matters


SPEAKERS

CA. Rashmi Thakkar, Baroda

CS. (Dr.) Mahesh Thakar, Baroda

5213

COMPANY LAW REFRESHER COURSE : DAY - 2

SUBJECT

Accounts, Audit & Dividends

Practical Approach towards National Company Law Tribunal, also a professional opportunity


SPEAKERS

CA. Rajkumar Adukia, Chairman, Internal Audit Standards Board, ICAI

Mr. Ashok Dullu, MD, Integra India Ltd., Baroda

CA. Chetan Dalal, Mumbai

38897

NATIONAL WORKSHOP ON INTERNAL AUDIT : DAY - 1

SUBJECT

Key Note Address - Professional Opportunities in Internal Audit

Key Note Address - Industry Perspective on Internal Audit

Fraud Investigation in Internal Audit

Day & Date : Sunday, 24.10.2010

SPEAKERS

CA. Dhinal Shah, Central Council Member, Ahmedabad

CA. Satish Shenoy, Mumbai

27993


SUBJECT

Case Studies in Internal Audit

Role of Internal Audit in Corporate Governance

10


Day & Date : Saturday, 30.10.2010SPEAKERS

CA. Himashu Vasa, Mumbai

Mr. Kamlesh Dhanda, Baroda


SUBJECT

Effective Drafting & Communication of Internal Audit Reports

Effective Internal Audit of SMEs.

37694


SPEAKERS

Mr. Narayana Karanam

7224

WORKSHOP ON INFORMATION TECHNOLOGY

SUBJECT

Journey from Tally to SAP


SPEAKERS

CA. Harmeek Behla, Mumbai

CA. Sapan Gandhi, Baroda

26789


SUBJECT

Risk Management

Pratical Implementation of COSO in Internal Audits


SPEAKERS

CA. Rashmi Thakkar, Baroda & CA. Hitesh Thakkar

38464

FULL DAY WORKSHOP ON TALLY

SUBJECT

Tally as an Audit Tool


SPEAKERS

CA. S. B. Sonawala, Mumbai

CA. Mitesh Kataria, Mumbai

CA. S. B. Sonawala, Mumbai

CA. Mitesh Kataria, Mumbai

38496

HALF DAY WORKSHOP ON PRACTICAL ASPECTS OF STANDARDS OF AUDITING

SUBJECT

Introduction of AASB, mandatory nature of SAs, recent develop-ments in SAs and importance of knowledge of business and audit planning

Case Studies on Assessments of Going Concern Status / Materiality / Use of special techniques such as comparatives, analytical review procedure and sampling

Case Studies on Documentation and Audit Evidence

Case Studies on Using / Considering work of experts, other auditors or using work of service organization / Communication with management and management representations

(Organized by the Auditing & Assurance Standards Board of ICAI)


SPEAKERS

Mr. Narayana Karanam

6321

WORKSHOP ON INFORMATION TECHNOLOGY

SUBJECT

Journey from Tally to SAP

11


SPEAKERS

CA. Nirav ShahCA. Dharit Shah

12046

HALF DAY WORKSHOP ON E-FILING UNDER INCOME TAX

SUBJECT

E-filing of Income Tax Return and Post E-filing Activities


TRAINING PROGRAMME

INTENSIVE COURSE ON GVAT : PART - 1

SUBJECT

Registration/Preparation & E-filing of Returns

Works Contract under GVAT viz under Service Tax

SPEAKERS

CA. Rashmi Acharya, Baroda & CA. Pragnesh Doshi, Baroda

CA. Prakash Thakkar, Baroda

47094


INTENSIVE COURSE ON GVAT : PART - 2

SUBJECT

Input Tax Credit / GVAT Audit

Assessment, Appeals, Revision & Penalties

SPEAKERS

CA. Pradeep Shah, Ahmedabad & CA. Bihari Shah, Ahmedabad

CA. Kishore Gheewala, Surat

49098


INTENSIVE COURSE ON INTERNATIONAL TAXATION : PART - 1

SUBJECT

Understanding Tax Treaties & Concept of Permanent Establishment

Important Aspects of Section 9 & Section 195

SPEAKERS

CA Mahesh Sarda, Chairman, Committee on International Taxation, ICAI

CA Yogesh Thar, Mumbai

40080



SUBJECT

Taxation of Royalty / FTS / Other Important Payments

Credit for Double Tax including underlying tax credit

SPEAKERS

CA N. C. Hegde, Regional Council Member, Mumbai

CA Sushil Lakhani, Mumbai

38577



SPEAKERS

CA Milin Mehta, Baroda

34569


SUBJECT

Transfer Pricing - Section 92 / 92C

Important Aspects of TP Study Report / Documentation

12


SUBJECT

IFRS 7, IAS 32, IAS 39, IFRS 953

318DATE & DAY

08.08.2010 Sunday

SPEAKERS

CA. Pooja Gupta, Mumbai

SUBJECT

IFRS - An Overview, IAS 1, IAS 7, IAS 8, IAS 10

DATE & DAY

05.08.2010 Saturday

SPEAKERS

CA. Khushroo Panthaky, Mumbai & CA. Jigar Thakkar, Mumbai

SUBJECT

IFRS-3, Fair Value Concept, IAS 27, IAS 28, IAS 31 56

336DATE & DAY

06.08.2010 Friday

SPEAKERS

CA. Mohan Lavi, Banglore

SUBJECT

IAS 16, IAS 17, IAS 23, IAS 20, IAS 36, IAS 38, IFRS 5, IAS 40 57

342DATE & DAY

07.08.2010 Saturday

SPEAKERS

CA. Himanshu Kishnadwala, Mumbai

7 DAY INTENSIVE COURSE ON IFRS (BATCH - 1)

SUBJECT

IAS 12, IAS 19, IAS 2, IAS 29, IAS 41, IAS 18, IAS 21 54

324DATE & DAY

12.08.2010 Thursday

SPEAKERS

CA. Vishal Doshi, Baroda

SUBJECT

IFRS 8, IAS 37, IAS 34, IAS 24, IAS 33, IAS 11, IFRS 2, IFRS 4, IFRS 6, IAS 26

51306

DATE & DAY

13.08.2010 Friday

SPEAKERS

CA. Chintan Patel, Ahmedabad & CA. Manish Iyer, Ahmedabad

SUBJECT

Case Studies

ICAI Vision in regards to IFRS Implementation

51306

DATE & DAY

14.08.2010 Saturday

SPEAKERS

CA. Pratiq Shah, Mumbai

CA. S. B. Zaware, Central Council Member, Pune

SUBJECT

IFRS-3, Fair Value Concept, IAS 27, IAS 28, IAS 31 34

204DATE & DAY

09.10.2010, Saturday

SPEAKERS

CA. Yagnesh Desai, Mumbai

SUBJECT

IFRS - An Overview, IAS 1, IAS 7, IAS 8, IAS 10

32192

DATE & DAY

07.10.2010, Thursday

SPEAKERS

CA. Khushroo Panthaky, Mumbai & CA. Jigar Thakkar, Mumbai

SUBJECT

IAS 16, IAS 17, IAS 23, IAS 20, IAS 36, IAS 38, IFRS 5, IAS 40

34204

DATE & DAY

08.10.2010, Friday

SPEAKERS

CA. Himanshu Kishnadwala, Mumbai CA. Chintan Patel, Ahmedabad

7 DAY INTENSIVE COURSE ON IFRS (BATCH - 2)

55330

13


SUBJECT

IFRS 7, IAS 32, IAS 39, IFRS 932

192DATE & DAY

10.10.2010, Sunday

SPEAKERS

CA. Chirag Doshi, Mumbai

SUBJECT

IAS 12, IAS 18, IAS 21, IFRS 6, IAS 2, IAS 29, IAS 41 31

186DATE & DAY

14.10.2010, Thursday

SPEAKERS

CA. Vishal Doshi, Baroda

SUBJECT

IFRS 8, IAS 37, IAS 34, IAS 24, IAS 33, IAS 11, IFRS 2, IFRS 4, IFRS 6, IAS 26 28

168

DATE & DAY

15.10.2010, Friday

SPEAKERS

CA. Mayur Choksi, Mumbai

SUBJECT

Case Studies28

168DATE & DAY


SPEAKERS

CA. Pratiq Shah, Mumbai

SUBJECT

Art of Negotiation

Business Etiquettes28

115DATE & DAY


SPEAKERS

Shri Animesh Bhatt

Shri Robbie Mathew

SUBJECT

Leveraging Technology to Improve Prospects and Efficiency

Achieving Sustainable Growth - Drafting skill

24106

DATE & DAY


SPEAKERS

CA. Maulik Mehta

CA. Milin Mehta

ADVANCED GMCS FOR MEMBERS

SUBJECT

Leadership / Team Building

Effective Communication 20

96DATE & DAY


SPEAKERS

Shri Vanraj Zala

Shri Samir Parikh

SUBJECT

Representation Before Authority

Balancing Life through desire management

29145

DATE & DAY


SPEAKERS

CA. Manish Shah, Vadodara

Dr. B. M. Palan

SUBJECT

Organising / Managing / Attending Meetings

Developing New Skills for Seizing Ever Changing Opportunity

25125

DATE & DAY


SPEAKERS

CA. Neena Patel, Vadodara

CA. Abhishek Nagori

14

SUBJECT

Economic Value Added (EVA) - A Tool for Value Creation

2448

DATE & DAY

30.11.2010, Tuesday

SPEAKERS

CA. Bhupesh Porwal, Baroda


SUBJECT

Practical Approach to Tally as an Audit Tool 57

114DATE & DAY

15.06.2010 Tuesday

SPEAKERS

CA Farhad Wadia, Baroda

SUBJECT

PF Compliances and Audit – An opportunity for Chartered Accountants 38

76DATE & DAY

29.06.2010 Tuesday

SPEAKERS

CA. Hitesh Agarwal, Baroda

SUBJECT

Taxation of Perquisites after withdrawal of FBT, with special consideration of ESOPS

3876

DATE & DAY

13.07.2010 Tuesday

SPEAKERS

CA. Mukund Bakshi, Baroda

SUBJECT

Hedge Accounting - (w.r.t.) Forward Contracts 32

64DATE & DAY

27.07.2010 Tuesday

SPEAKERS

CA. Dipak Kanabar, Baroda

STUDY CIRCLE MEETINGS

SUBJECT

Service Tax on Construction Industry as amended by Finance Act’10 44

88DATE & DAY

10.08.2010, Tuesday

SPEAKERS

CA. Nirav Shah, Baroda

SUBJECT

Search & Survey – Practical Issues35

70DATE & DAY

17.08.2010, Tuesday

SPEAKERS

CA. Abbas Gulamhusainwala, Baroda

SUBJECT

Issues in Tax Audit & CARO39

78DATE & DAY

07.09.2010, Tuesday

SPEAKERS

CA. Narendra Hindocha & CA. Mayur Swadia

SUBJECT

“Understanding Cycles and Phases of Capital Markets” 31

62DATE & DAY

12.10.2010, Tuesday

SPEAKERS

CA. Pathik Patel, Baroda

SUBJECT

“Relevance of Fair Value in Implementation of IFRS" 27

54DATE & DAY

26.10.2010, Tuesday

SPEAKERS

CA. Bharat Gajjar, Baroda

SUBJECT

Introduction to Private Equity Investment 39

78DATE & DAY

23.11.2010, Tuesday

SPEAKERS

CA. Shrirang Tambe, Mumbai

15

SUBJECT

Emerging Reporting Trends - XBRL42

84DATE & DAY

07.12.2010, Tuesday

SPEAKERS

CA. Hemant Bhatt, Baroda


SUBJECT

Mediation my First Choice as Alternative Dispute Resolution Method 43

86

DATE & DAY

14.12.2010, Tuesday

SPEAKERS

Adv. Tushar Vyas, Baroda

SUBJECT

Product Pricing & Costing Issues in Pharma Industry 56

112DATE & DAY

21.12.2010, Tuesday

SPEAKERS

Shri Bhavesh Patel, MD, Marck Biosciences Ltd., Baroda

SUBJECT

Direct Tax Code - An Introduction

GST - Framework & Implications120

240

DATE & DAY

31.12.2010, Tuesday

SPEAKERS

CA. Milin Mehta, Baroda

CA. Anirudh Sonpal, Baroda

SUBJECT

“Developing MIS in manufacturing industry” 37

72DATE & DAY

18.01.2011,Tuesday

SPEAKERS

CA. Ashish Jaiswal, Vadodara

SUBJECT

“Tricks & Techniques in Excel"29

74DATE & DAY

25.01.2011,Tuesday

SPEAKERS

CA. Pathik Shah, Ahmadabad

SUBJECT

Global Vision and New Avenues Related to Profession 27

54DATE & DAY

15.02.2011,Tuesday

SPEAKERS

Mr. Yash Thakkar

SUBJECT

Happiness and Peace in Day to Day Life112

224DATE & DAY

26.02.2011,Saturday

SPEAKERS

Swami Nikhileshwaranandji, Vadodara

SUBJECT

Issues on Transfer Pricing41

82DATE & DAY

08.03.2011,Tuesday

SPEAKERS

CA Prashant Kotecha, Vadodara

SUBJECT

Managerial Remuneration, Legal & Procedural Aspects 54

108DATE & DAY

19.04.2011,Tuesday

SPEAKERS

CS Niraj Trivedi

SUBJECT

Value of Stamp is Value of Paper47

94DATE & DAY

17.05.2011,Tuesday

SPEAKERS

Advocate Avdhoot Sumant

16

Day & Date Tuesday, 01.02.2011

SPEAKERS

CA. Samir Parikh

SUBJECT

Part - I : TDS Compliances

Day & Date Friday, 04.02.2011

SPEAKERS

CA. Aatur Mehta

62

SUBJECT

Part - II : Checkpoints for Compliance of Audit

Day & Date Tuesday, 15.02.2011

SPEAKERS

CA. Hemant Suthar

57

SUBJECT

Part - III : Preparation for Income Tax Scrutiny

56

DAY & DATETuesday, 22.02.2011

SPEAKERS

CA. Pragnesh Doshi

SUBJECT

Part - IV : Essential Compliances under Gujarat VAT and Online Activities

DATE & DAY : 18.8.2010, Wednesday

SUBJECT

Issues related to E-filing of TDS Returns & Claim of Tax Credit

SPEAKERS

Shri Abhijit Kumar Nabhakad, Add. CIT, TDS, Baroda, Shri Sher Singh, ACIT, TDS, Baroda


AWARENESS PROGRAM BY INCOME TAX DEPARTMENT, BARODA25

AWARENESS PROGRAMME FOR PUBLIC

DATE & DAY : 20.12.2010, Monday

SUBJECT

Role of Internal Audit & Audit Committee in supporting business sustainability

Shareholder Activism in Corporate Governance

SPEAKERS


CA. Bimal Bhatt, Baroda

INDIA CORPORATE WEEK 2010 PROGRAM25

DATE & DAY : 18.01.2011, Tuesday

SUBJECT

"Aik Dastak" Movie on Income Tax Backdrop

WRITTEN AND DIRECTED BY

Shri S. S. Jha, Add. Commissioner of Income Tax, Vadodara

"AIK DASTAK" MOVIE ON INCOME TAX BACKDROP200

DATE & DAY : 16.02.2011, Wednesday

SUBJECT

Credit Facilities Available to Farmers

SPEAKERS

Credit Officer, Bank of Baroda

PUBLIC PROGRAM FOR FARMERS60

DATE & DAY : 12.03.2011, Saturday

SUBJECT

Budget 2011 & Stock Market

SPEAKERS

CA. S. P. Tulsian, Mumbai

PUBLIC PROGRAM ON INVESTOR AWARENESS249

WORKSHOP FOR ACCOUNTANTS

89

122

17


OTHER ACTIVITIES

DATE ACTIVITY INVITEES

30.06.2010 Divya Bhaskar 7th Anniversay Celebrations Branch were invited & participated

in the same

01.07.2010 Foundation Day Celebration : Members & Students of Baroda Branch 60Flag Hoisting and Blood Donation Camp

01.07.2010 Foundation Day Celebration Cultural Members of Baroda Branch 325Program - Raga to Rock - Performances with familyby Members, their children and CA Student

13.11.2010 Diwali Milan : Hasya Durbar Shri Vasant Paresh, Jamnagar & 100

members with family

15.01.2011 Kite Flying - Uttaryan Committee Members, 20Past Chairmen & CA. Niraj Surati, Vice Chairman, Bharuch Branch of WIRC of ICAI

26.01.2011 Flag Hoisting on 62nd Republic Day -- 100

06.02.2011 Family Picnic Members and their family 81

11.02.2011 ICAI Annual Function Branch Managing Committee 8+

20.03.2011 Cultural Activity : Holi Milan Members and their family 50

Chairman & Vice-Chairman of 2

CELEBRATIONS

DATE FELICITATEE

27.06.2010 Felicitation of Padma Shri CA T. N. Manoharan & his address to Past President, ICAIMembers & Students Satyam Saga - A Personal Experience Felicitation Programs

13.12.2010 Felicitation of CBDT Member by Shri. C. S. Kahlon, Member (L&C), CBDT, 10Baroda BranchRole of Chartered Shri D. S. Rastogi, CCIT, Accountants in ensuring Tax Compliance Ahmedabad & Shri Arunkumar Jain,

CCIT, Baroda felicitated by Baroda Branch Executive Committee & Past Chairman

18.01.2011 Felicitation of Deputy Mayor --- 8Shri Arvindbhai Patel

18.01.2011 Felicitation of Mayor, Dr. Jyotiben Pandya --- 8

19.03.2011 Felicitation of CA Shrinivas Joshi, CA Shrinivas Joshi, Chairman WIRC, 238WIRC Chairman 2011-12 along with CA B. K. Patel, Vice Chairman WIRC, WIRC Executive CA. Shardul Shah, Secretary, WIRC,

CA Julfesh Shah, Treasurer, WIRC,

22.04.2011 Felicitation of CA G. Ramaswamy, 214President, ICAI & CA. Jaydeep Shah, Vice President, ICAI,

CA. T. N. Manoharan, 200+

FELICITATION

18


DATE ACTIVITIES FACULTIES / ATTENDED BY

18.06.2010 Vision & Perspective Planning WorkshopSuggestions regarding the ICAI Vision Document for next 3 years

19.06.2010 Participation in Meeting with Petition Committee Members, 10Committee on Petition of Rajya Sabha Chairman, Vice Chairman, Relief to Charitable Organizations in Treasurer of Baroda Branch & respect of Anonymous Donations Senior Chartered Accountants of Baroda

30.06.2010 Annual General Meeting Meber of baroda Branch 20

08.07.2010 Interaction of Managing Committee & CA. G. Ramaswamy & Past Chariman 25Past Chairman with the of Baroda BranchHon. Vice-President, ICAI, CA. G. Ramaswamy

09.07.2010 Press Confeernce CA. G. Ramswamy, Vice-President, ICAI, CA. Sanjeev Lalan, Chairman, WIRC, CA. Rahul Parikh, Chairman, Baroda Branch 50

30.08.2010 ICAI Convocation for Newly Qualified Prof (Dr.) Ramesh Goyal, Vice Chancellor, Members in Gujarat Maharaja Sayajirao University 200+

30.08.2010 ICAI Convocation for Newly Qualified CA. Amarjit Chopra, President, ICAI 200+Members in Gujarat

30.08.2010 Press Confrence CA. Amarjit Chopra, President, ICAI 30+

19.10.2010 Branch Co-ordination Meeting at WIRC CA. Rahul Parikh & CA. Pradeep Agrawal 2Forthcoming Programs of Various Branch of WIRC

21.11.2010 Family Workshop Total Health through Dr. Dara Bhesania, Baroda 32Scientific Yoga

02.01.2011 Cricket Match Baroda Branch v/s Baroda WICASA 30

18.01.2011 "Aik Dastak" Movie on Income The movie is written and directed 200Tax Backdrop by Shri S. S. Jha, Add. Commissioner

of Income Tax, Vadodara

21.01.2011 Managing Committee Meeting with Past Chairman & Managing 23Past Chairmen Committee Members

23.01.2011 Cricket Match Baroda Branch v/s Surat Branch 45

30.01.2011 Cricket Match With Ahmedabad CA Association in 75presence of CA Sunil Talati, Past President, ICAI

12.02.2010 Outgoing ICAI President’s Dinner Branch Managing Committee Attended 8+

16.02.2011 Public Program for Farmers Credit Credit Officer, Bank of Baroda 60Facilities Available to Farmers

23.02.2011 Campus Placement Program, L&T, GNFC, PWC 60+Vadodara Centre

--- 21

OTHER ACTIVITIES

19


DATE ACTIVITIES FACULTIES / ATTENDED BY

24.02.2011 Campus Placement Program, Vadodara Centre Syndicate Bank

27.02.2011 Tennis Tournament for Members --- 15

28.02.2011 Press Conference - Comments Managing Committee Members 8on the Finance Bill 2011 of Baroda Branch

04.03.2011 Meeting of Directory Committee CA. Vishal Doshi, CA. Ashok Thakkar, 9CA. Abhishek Nagori, Past Chairmen

14.03.2011 Orientation Program regarding Branch All Managing Comittee Members 8Functioning & Interaction with WIRC Chairman

15.03.2011 Participation in the Branch All Managing Comittee MembersCoordination Meeting by the WIRC 8

15.03.2011 Participation in the Felicitation All Managing Comittee MembresProgram organized by WIRC by Managing Committee 8

17.03.2011 Meeting of Working Group on Account, CA. Mayur Swadia and CA. Vishal Doshi, Audit and IFRS of Baroda Branch Past Chairmen of Baroda Branch 7

28.03.2011 Directory Committee Meeting CA. Vishal Doshi and CA. Abhishek Nagori, Past Chairmen of Baroda Branch 9

29.03.2011 Meeting of Working Group on CA. Chirag Bakshi and CA. Vishal Doshi, Information Technology Past Chairmen of Baroda Branch 6

26.04.2011 Directory Committee Meeting CA. Vishal Doshi, Past Chairman, Baroda Branch 7

19.05.2011 Meeting of Working Group on Internal CA. Manilal Parasia, CA. Nayan Kothari, Audit & Management Consultancy CA. Chirag Baxi, CA. Rohit Kothari, 6

CA. Hemant Bhatt

20.05.2011 Meeting of Working Group on CA. Manilal Parasia, CA. Viral Shah, Information Technology CA. Rahul Parikh, CA. Vishal Doshi, 5

CA. Darshan Bhutwala

27.02.2011 Tennis Tournament for Members — 15

Kribhco, K. C. Mehta & Co., 60+

20


PRESENCE OF ICAI DIGNITARIES

SR. NAME DESIGNATION DATE OF VISIT

1 CA. Bhavna Doshi Central Council Member 12.06.2010

2 CA. Dilip Apte Regional Council Member 12.06.2010

3 CA. Sriniwas Joshi Regional Council Member 12.06.2010

4 CA. Sunil Patodia Regional Council Member 12.06.2010

5 Padma Shri CA. T. N. Manoharan Past President, ICAI 27.06.2010

6 CA. Mahesh Sarda Chairman, Committee on 03.07.2010International Taxation

7 CA. G. Ramaswamy Hon. Vice-President 08.07.2010 & 09.07.2010

8 CA. Sanjeev Lalan Chairman, WIRC 09.07.2010

9 CA. Mangesh Kinare Secretary, WIRC 09.07.2010

10 CA. Parag Raval Treasurer, WIRC 09.07.2010

11 CA. Jay Chaira Regional Council Member 09.07.2010

12 CA. Neel Majithia Regional Council Member 09.07.2010

13 CA. Jayant Gokhale Central Council Member 09.07.2010

14 CA. Atul Bheda Central Council Member 09.07.2010 & 10.07.2010

15 Shri Vijay Kapur Director, Board of Studies 10.07.2010

16 CA. N. C. Hegde Regional Council Member 17.07.2010

17 CA. S. B. Zaware Central Council Member 14.08.2010

18 CA. Amarjit Chopra Hon. President, ICAI 30.08.2010

19 CA. Sanjeev Lalan Chairman, WIRC 30.08.2010

20 CA. Atul Bheda Central Council Member 30.08.2010

38 CA. Parag Raval Treasurer, WIRC 30.08.2010

39 CA. Jay Chaira Regional Council Member 30.08.2010

40 CA. Rajkumar Adukia Chairman, Internal Audit Standards Board 23.10.2010

41 CA. Dhinal Shah Central Council Member 24.10.2010

42 CA. Jayant Gokhale Chairman, Direct Taxes Committee 27.11.2010

43 CA. Gautam Doshi Group Managing Director, Reliance ADAG, Mumbai 12.06.2010

44 CA. Vardhan Dharkar CFO, KEC International Ltd. 12.06.2010

45 CS. Sushil Samdani Past Chairman, Baroda Chapter of ICSI 16.07.2010

46 CS. Niraj Trivedi Chairman, Baroda Chapter of ICSI 16.07.2010

47 Shri Abhijitkumar Nabhakad Add. CIT (TDS Range), Baroda 18.08.2010

48 Shri Sher Singh Asst. CIT (TDS Range), Baroda 18.08.2010

49 Prof (Dr.) Ramesh Goyal Vice Chancellor, Maharaja Sayajirao University, 30.08.2010Baroda

21


SR. NAME DESIGNATION DATE OF VISIT

50 K. Neeti Raghavan DGM, Foreign Exchange Department, 11.12.2010Reserve Bank of India

50 Shri Maulin Vaishnav Director, Bank of Baroda 30.08.2010

51 Shri Bhupendra Lakhawala MLA, Vadodara City 30.08.2010

52 CA. Sanjay Deshmukh Vice-Chairman, Ahmednagar Branch of WIRC of ICAI 22.10.2010

53 Shri Ashok Dullu Managing Director, Integra India Ltd. 23.10.2010

54 Shri Achal Gupta Managing Director, SBI Mutual Fund 23.10.2010

55 Shri Amit Goradia Chairman, Jewel Consumer Care Pvt. Ltd. & Chairman, United Way of Baroda 27.11.2010

56 Shri K. Neethi Raghavan DGM, Foreign Exchange Dept, Reserve Bank of India 11.12.2010

57 Shri C. S. Kahlon Hon. Member (L&C), Central Board of Direct Taxes 13.12.2010

58 Shri Arunkumar Jain Hon. Chief Commissioner of Income Tax, Baroda 13.12.2010

59 Shri. D. S. Rastogi Hon. Chief Commissioner of Income Tax, Ahmedabad 13.12.2010

60 CA. Bhailal Patel Regional Council Member 06.01.2011

61 Dr. Jyotiben Pandya Mayor, Vadodara Mahanagar Seva Sadan 18.01.2011

62 Shri Needhi Raghwan DGM - Foreign Exchange, Reserve Bank of 15.02.2011India

63 Shri Pankaj Shah Director Gujarat Paguthan Energy Pvt. Ltd. 19.02.2011

64 CA. Mahesh Sarda Central Council Member, ICAI 19.02.2011

65 CA. N. C. Hegde, Mumbai Central Council Member, ICAI 19.02.2011

66 CA. K. C. Jatania Executive Director, GNFC 23.02.2011

67 CA. S. P. Tulsian, Mumbai Speaker of CNBC 12.03.2011

68 CA Shrinivas Joshi Chairman WIRC, 19.03.2011

69 CA B. K. Patel Vice Chairman WIRC, 19.03.2011

70 CA. Shardul Shah Secretary, WIRC, 19.03.2011

71 CA Julfesh Shah Treasurer, WIRC, 19.03.2011

72 CA G. Ramaswamy Hon'ble President, ICAI 22.04.2011

73 CA. Jaydeep Shah Vice President, ICAI 22.04.2011

75 Smt. Geetaben Goradia President, FGI 22.04.2011

76 Shri Bhupendra Lakhawala MLA, Vadodara City 22.04.2011

22

WICASA EVENTS

CONFERENCES & SEMINARS

Theme : Visualize Opportunities in ChallengesDay & Date : Friday, July 9, 2010 & Saturday July 10, 2010 Venue : Hotel Surya Palace, Vadodara

WIRC CA STUDENTS’ REGIONAL CONFERENCE512


DAY 1 : FRIDAY, JULY 9, 2010

Inaugural SessionChief Guest: CA. G.Ramaswamy, Vice President, ICAI

Other Dignitaries:CA. V.Murali, Vice Chairman, Board of Studies, ICAICA. Sanjeev Lalan, Chairman, WIRC, ICAICA. Rajesh Shah, Chairman, WICASACA. Mangesh Kinare, Secretary, WIRCInstitute Theme song Stuti sung by group of CA StudentsInauguration by all the dignitaries

First Technical SessionChairman of the Session:CA. Jayant Gokhale, Central Council Member, ICAI

Other Dignitary:CA. Parag Rawal

Papers Presented on Direct & Indirect Tax1 Roadmap to GST2 Adjustment in Computation of Total Income u/s 43A & 43B

of Income Tax3 Valuation of Excisable Goods4 DTAA-Interpretation Techniques

First Special SessionWinnig Strategies for Successful Life

Chairman of the Session:CA. Amar Shah, Past Chairman, Baroda Branch of WIRC of ICAI

Key Note Speaker:CA. V. Murali, Vice-Chairman, Board of Studies, ICAISecond Technical Session

Chairman of the Session:CA. Sunil Goyal, Past Chairman, WIRC, ICAI

Other Dignitary:CA. Jay Chhaira, Regional Council Member, WIRC, ICAIPapers Presented on Financial Management

1 Importance of Working Capital Management in Current Competitive Scenario

2 Organic growth and Inorganic Growth in Current Scenario, which is better?

3 Foreign Exchange Exposure and Risk Management 4 Business Valuation

Entertainment Program Skits by Students Dance, Songs and other performances by students Dance & Songs by ICAI Dignitaries and members Entertainment program by Orchestra. Everyone danced at the tune of disco jockey

DAY 2 : SATURDAY, JULY 10, 2010

Third Technical SessionChairman of the Session: CA. Rakesh Agarwal, Mumbai

Papers Presented on Accounts and Audit1 Fair Value Concept under IFRS2 Property, Plant & Equipment under IFRS and Indian GAAP3 Analytical Procedures and Audit Sampling-Practical Usages4 Internal Audit & Corporate Governance

Second Special Session

IFRS Conversion in India - Development till Date

Chairman of the Session:CA. Sanjeev Shah, Past Chairman, Baroda Branch of WIRC of ICAI

Key note Speaker:CA. Rakesh Agarwal, Mumbai

Fourth Technical SessionChairman of the Session:

CA. Atul Bheda, Central Council Member, ICAI

Papers Presented on Information Technology1 Information System Control Techniques2 XBRL – A great boon to Financial Reporting3 Audit in ERP Environment – Inbuilt Audit Tools4 Risk Assessment Methodologies and Applications

Third Special Session

Personality Development - Visualize Opportunities in Challenges

Chairman of the Session:CA. Ashok Thakkar, Past Chairman, Baroda Branch of WIRC of ICAI

Key note Speaker:Shri Snehal Desai, Ahmedabad

Veledictory SessionGuest of Honor:Shri Vijay Kapur, Director, Board of Studies, ICAI

Other Dignitaries:CA. Atul Bheda, Central Council Member, ICAI

Presentation of Best Paper Writer AwardsAddress by Guest of HonorNational Anthem

23

DATE SUBJECT SPEAKER

17.06.2010 Return and Assessment of Income CA. Arpita Singhal 55

27.06.2010 Satyam Saga - A personal Experience CA. T.N.Manoharan 225

03.08.2010 How to be Successful in Interviews CA. Milin MehtaCA. Bimal Bhatt 35Shri Rajesh Palkar

14.08.2011 Challenges in CA Examination CA. Ashish Parikh, Treasurer, Baroda Branch of WIRC of ICAI, CA. Pradeep Agrawal, Secretary, Baroda Branch of WIRC of ICAI and CA. S. B. Zaware, CCM, ICAI

22.08.2010 Issues in Income Tax CA. Milin Mehta 75

18.09.2010 VAT & Service Tax CA. Nirav Shah 165

07.10.2010 Capital Market CA. Pathik Patel 22

16.12.2010 Accounting & Service Tax CA. Kishor Chauhan 45CA. Apurva Mehta

22.01.2011 Seminar on Total Quality Management , CA. Ashish Jaiswal Costing & "If you keep on doing what you Mr. Animesh Bhatt 18are doing, you will get what you are getting"


Theme : Emerging Trends in Accounting, Taxation and FinanceDay & Date : Saturday, 4th December, 2010Venue : C. C. Mehta Auditorium, M. S. University, Baroda

JOINT SEMINAR WITH M.S.UNIVERSITY OF BARODA590

Inaugural Session Chief Guest:Dr. Ramesh Goyal, Vice Chancellor, M. S. University, BarodaGuest of Honour:Shri Devang Nanavati, Advocate, Ahmedabad

Institute Theme songInauguration by all the dignitaries

First Technical Session Keynote Speakers:CA. Vishal Doshi, Past Chairman, Baroda Branch of WIRC of ICAI on IFRS on Plant, Property and Equipment

CA. Jagdish Thakkar, Past President, Vadodara Stock Exchange on Intricacies of Capital Market

Second Technical Session Keynote Speakers: CA. Milin Mehta, Past Chairman, Baroda Branch ofWIRC of ICAI on Overview of Revised Direct Tax Code

Shri Yogen Mahadevia, Advocate on Service Tax

Shri Animesh Bhatt, Manager, response, Times of India on Believe and You can

WORKSHOP & LECTURE MEETINGS

24


DATE SUBJECT SPEAKER28.01.2011 Share Market - An investment avenue and CS Manish Gandhi, Share broker, Baroda 20

its analysis

14.02.2011 How to be successful in interviews Mr. Sandeep Sawant(HR Consultant) 10Mr. Sandeep Purohit(HR Consultant)CA. Bimal Bhatt & CA. Milin Mehta

15.02.2011 How to conduct yourself in interviews Mr. Sandeep Sawant(HR Consultant) 10CA Bimal Bhatt

28.02.2011 Live screening of the budget -- 25

26.03.2011 Tips by the IPCC toppers on "How to be Ms. Sanya Sitlani & Mr. Vineet Kotak 57successful in CA exams"

08.04.2011 Indirect Taxes- Customs Adv. Saurabh Dixit, Baroda 25

09.04.2011 Indirect Taxes- Adv. Saurabh Dixit, Baroda 20 Appeals, Revision & Settlement

10.04.2011 Indirect Taxes- Selected Case Laws Adv. Saurabh Dixit, Baroda 25

11.04.2011 Major Services Relevant to May-11 Exams CA. Nirav Shah, Baroda 10

19.05.2011 Effective utilisation of MS Excel 2007 CA Pathik Shah, Ahmedabad 32

DATE SPEAKER VENUE

16.07.2010 CA. Manilal Parsiya, Sant Shri Khetabapa 300Vice Chairman, High School, Vithon, Kutch

Baroda Branch of WIRC of ICAI, CA. Chandrika Parsiya, Vadodara

16.07.2010 CA. Manilal Parsiya, Vice Chairman, Sheth K. V. High School, 300Baroda Branch of WIRC of ICAI, Nakhatrana,CA. Chandrika Parsiya, Vadodara, Kutch.CA. Rajesh Patel, Mumbai

17.07.2010 CA. Manilal Parsiya, Vice Chairman, GMDC Arts & 140Baroda Branch of WIRC of ICAI, Commerce Collage,CA. Chandrika Parsiya, Vadodara, Nakhtrana, KutchCA. Rajesh Patel, Mumbai

17.07.2010 CA. Manilal Parsiya, Vice Chairman, Kumari Tejal Damji Velani 400Baroda Branch of WIRC of ICAI, Kanya High School, CA. Chandrika Parsiya, Vadodara, Nakhatrana, KutchCA. Ashish Patel, Ahmedabad

30.07.2010 Mr. Tanmay Buch M.K.High School, Alkapuri, Vadodara 100

03.08.2010 Mr. Tanmay Buch, Vidhya Vikas Vidhyalaya, 200Baroda Branch of WICASA Ellora Park, Vadodara

12.08.2010 Mr. Tanmay Buch, Nutan Vidhyalaya, High Tension Road, 100Treasurer, Baroda Branch of WICASA Shubhanpura, Vadodara

CAREER COUNSELING PROGRAMS

25


Date Speaker Venue

05.10.2010 CA. Oza & Mr. Tanmay Buch ICAI Bhawan, Vadodara 35

18.10.2010 Mr. Tanmay Buch Sabri School, Old Padra Road, Vadodara 85

14.11.2010 CA. Chandrika Parsiya Shri Kutch Kadva Patidar Samaj, Opp. 400Gita Mandir, Pratapnagar, Vadodara

11.12.2010 CA. Mayur Swadia, Past Chairman, Vanijya Bhawan, Race Course, Vadodara 100Baroda Branch of WIRC of ICAI and CA. Nirav Shah

23.12.2010 Mr. Jimit Upadhyay Vidhyut Board Vidhyalaya, 150Old Padra Road, Vadodara

24.12.2010 Mr. Jimit Upadhyay Gayatri Vidhyalaya, Gotri Road, Vadodara 180

27.12.2010 Mr. Vipul Parsiya Rameshwar Vidhyalaya, Gotri, Vadodara 45

27.12.2010 Mr. Vipul Parsiya Krunal Vidhyalaya, Old Padra Road, Vadodara 56

28.12.2010 Mr. Vishal Thakkar H. S. Patel School, Vadodara 100

01.02.2011 Dr. Jyotiben Pandya (Mayor), Auditorium, ICAI Bhawan 200CA Nirav Shah and Dr. JK Pandya

17.02.2011 CA Nirav Shah ICAI Bhawan,Baroda 50

25.02.2011 CA Ashok Thakkar & CA Nayan Kothari Kelvani Trust School, OP Road, Vadodara 100

03.04.2011 CA. Mayur Swadia, C C Mehta, M S University, Sayajigunj, Baroda 100+

03.04.2011 CA. Nirav Shah, Baroda C C Mehta, M S University, Sayajigunj, Baroda 100+

DATE VENUE

10.06.2010 Kwick Deals Broking Pvt Ltd., Fatehgunj, Vadodara 12

25.08.2010 Sandesh Ltd. Karelibaug, Vadodara 15

25.11.2010 Piramal Glass, Jambusar, Vadodara 02

27.11.2010 Akshay Patra Kitchen, Vadodara 14

22.12.2010 Vadodara Stock Exchange, Sayajigunj, Vadodara 50

25.12.2010 Big FM Radio Station, Vadodara 60

07.12.2010 Maharaja Fatehsinh Museum, Vadodara 21

07.12.2010 Laxmi Vilas Palace, Vadodara 21

12.12.2010 Sardar Sarovar Dam, Kevadia Colony 65

12.01.2011 Visit to Vibrant Gujarat Summit 51

12.01.2011 Visit to Auto Museum 51

11.02.2011 FGI Auditorium Hall,Sevasi 15

16.02.2011 Philips Electronics India Ltd., Jambusar 13

16.02.2011 IPCA Laboratory, Jambusar, Baroda 13

19.02.2011 Visit to the Vadodara Chamber of Commerce and Industry 06

26.04.2011 Kwick Deals Broking Pvt. Ltd. 05

29.04.2011 Hotel Surya Palace 05

INDUSTRIAL VISITS/EDUCATIONAL TOURS

26


STUDY CIRCLE MEETINGS

DATE ACTIVITY SPEAKER

23.06.2010 Audit Planning and Documentation Mr. Vishal Thakkar 19

12.10.2010 ERP & SAP Implimentation Mr. Tanmay Buch 13

01.02.2011 Role of CFO in integrating strategy and finance Mr. Tanmay Buch, IPCC Student, Baroda 12

22.02.2011 Practical issues in Internal Audit Mr. Devesh Jadhav, CA Final student 15

03.03.2011 Union Budget 2011 Mr. Rameshwar Sharma, CA Final Student 12

26.05.2011 Impact of IFRS on different Accounting Aspects Mr. Sadik Khatri,CA Final Student, Baroda 40

OTHER ACTIVITIES

DATE SUBJECT

19.06.2010 Discussion regarding Students Grievances and suggetions for Students Activities 17

01.07.2010 Flag Hoisting and Blood Donation Camp on ICAI Foundation Day & Baroda Branch 60of WICASA. Foundation Day Celebration

01.07.2010 Cultural Program - Raga to Rock - Performances by Members, 325their children and CA Student

09.07.2010 Press Conference: Interaction 50of madia persons with Vice President CA. G. Ramaswamy

08.07.2010 Interaction of Students with Vice President 50CA. G.Ramaswamy & Grand Rehearsal of Entertainment Program of the Conference

19.07.2010 Interaction of Toppers from Baroda 40of Final Examination held in May and CPT exam held in June 2010 with Media persons

23.07.2010 Elimination Round Quiz Master: CA. Bimal Bhatt 30

24.07.2010 Final Round of Branch Quiz Master: 20Level Quiz Contest CA. Bimal Bhatt

05.08.2010 Interaction of Toppers of 30IPCC/PCC/PE II from Barodawith Media persons

06.08.2010 Branch Level CA Bimal Bhatt & 30Elocution Contest CA Dhruv Agrawal

27

DATE SUBJECT SPEAKERS Attn.

05.09.2010 Students Participation at Regional --- 2Level of Quiz Competition

25.09.2010 Discussion of issues and difficulties faced by the students 11

13.11.2010 Diwali Milan - Live entertainment 150program "Hasya Darbar"

12.12.2010 Cricket Match 25

19.12.2010 Indoor Games Sports Festival 70

23.12.2010 Quiz Contest Quiz Master: CA. Bimal Bhatt 25

24.12.2010 Quiz Contest Quiz Master: CA. Bimal Bhatt 10

26.12.2010 Youth Festival - 298Cultural Evening

21.01.2011 Press Conference with the CA Final and CPT Toppers of Baroda Branch 25

26.01.2011 Launching of the VITCOS Bus Facility from Station to ICAI Bhawan 100

01.02.2011 Launching of the first Monthly Dr. Jyotiben Pandya (Mayor)Students' E-Newsletter by the hands of Hon'ble Mayor of Baroda 200

23.02.2011 Placement of Qualified CAs 70

24.02.2011 Placement of Qualified CAs 70

24.02.2011 Best Branch 2010 Award Celebration 100

01.03.2011 Pop the Question - on current affairs Judges : CA. Sanjeev Shah, Baroda & CA. Bimal Bhatt, Baroda 25

10.03.2011 RBI Quiz "FEMA & you" Shri K Neethi Raghvan, DGM- FED- RBI- Regional Office, Ahmadabad 55

25.05.2011 Pop The Question- Current Affairs 10


ORIENTATION PROGRAM FOR IPCC STUDENTS

Batch No. Starting Date Ending Date No. Of Students

17 14.06.2010 21.06.2010 50

18 19.07.2010 27.07.2010 50

19 16.08.2010 23.08.2010 47

20 13.09.2010 19.09.2010 52

21 20.09.2010 26.09.2010 51

22 27.09.2010 03.10.2010 50

23 15.11.2010 21.11.2010 50

24 22.11.2010 28.11.2010 51

25 29.11.2010 05.12.2010 4726 26.04.2011 01.05.2011 50

28


CA FINAL - GENERAL MANAGEMENT & COMMUNICATION SKILLS COURSE (GMCS)

Batch No. Starting Date Ending Date No. Of Students

20 31.05.2010 16.06.2010 50

21 21.06.2010 07.07.2010 51

22 19.07.2010 04.08.2010 51

23 06.12.2010 22.12.2010 50

24 27.12.2010 12.01.2011 48

25 23.05.2011 08.06.2011 50

1 Exposure Draft of Accounting Standard (AS) 15 (Revised 20XX) (Corresponding to IAS 19) Employees Benefits 03.06.2010

2 Exposure Draft of Accounting Standard (AS) 26 (Revised 20XX) (Corresponding to IAS 38) Intangible Assets 05.06.2010

3 Exposure Draft of Accounting Standard (AS) 38 (Issued 20XX) (Corresponding to IAS 41) Agriculture 05.06.2010

4 Exposure Draft of Accounting Standard (AS) 39 (Issued 20XX) (Corresponding to IFRS 4) Insurance Contracts 05.06.2010

5 Exposure Draft of Accounting Standard (AS) 9 (Revised 20XX) (Corresponding to IAS 18) Revenue 05.06.2010

6 Exposure Draft of Accounting Standard (AS) 33 (Issued 20XX) (Corresponding to IFRS 2) Share-based Payment 08.06.2010

7 Exposure Draft of Accounting Standard (AS) 36 (Issued 20XX) (Corresponding to IAS 26) Accounting and Reporting by Retirement Benefit Plans 08.06.2010

8 Exposure Draft of Accounting Standard (AS) 28 (Issued 20XX) (Corresponding to IAS 36) Impairment of Assets 15.06.2010

9 Exposure Draft of Accounting Standard (AS) 27 (Issued 20XX) (Corresponding to IAS 31) Interests in Joint Ventures 17.06.2010

10 Exposure Draft of Accounting Standard (AS) 24 (Revised 20XX) (Corresponding to IFRS 5) Non-current Assets Held for Sale and Discontinued Operations 17.06.2010

11 Exposure Draft of Indian Accounting Standard (Ind - AS) 41 (Issued 20XX) (Corresponding to IFRS 1) First-time Adoption of Indian Accounting Standard 25.06.2010

12 Exposure Draft of Accounting Standard (AS) 14 (Revised 20XX) (Corresponding to IFRS 3) Business Combinations 25.06.2010

13 Exposure Draft of Accounting Standard (AS) 40 (Issued 20XX) (Corresponding to IFRS 9) Financial Instruments 25.06.2010

14 Exposure Draft of Accounting Standard (AS) 32 (Revised 20XX) (Corresponding to IFRS 7) Financial Instruments: Disclosures 25.06.2010

15 Exposure Draft of Accounting Standard (AS) 31 (Revised 20XX) (Corresponding to IAS 32)

Financial Instruments: Presentation 25.06.2010

16 Exposure Draft of Accounting Standard (AS) 30 (Revised 20XX) (Corresponding to IAS 39) Financial Instruments: Recognition and Measurement 25.06.2010

REPRESENTATIONS TO CENTRAL COUNCIL

Comments on Exposure Drafts issued by ICAI

Sr. Name of Exposure Draft Date

29


Pre Budget memorandum and Post Budget Memorandum

Any Other Technical/Professional Matter

Sr. Particular Date

Sr. Particular Date

17 IASB Exposure Draft on Fair Value Option for Financial Liabilities 06.07.2010

18 Whether to apply AS 30 (Revised) or apply early AS 40 corresponding to IFRS 9 for entities which are required to follow converged Accounting Standards from April 1, 2011 28.07.2010

19 IASB Exposure Draft on Defined Benefit Plans: proposed amendments to IAS 19 07.08.2010

20 IASB Exposure Draft on Presentation of Items of Other Comprehensive Income: proposed amendments to IAS 1 07.08.2010

21 Exposure Draft of Standard on Assurance Engagements (SAE) 3402, Assurance Reports on Controls At a Service Organisation 15.09.2010

22 Exposure Draft of Schedule XIV to the Companies Act, 1956 06.10.2010

23 IASB Exposure Draft on Revenue from Contracts with Customers 08.10.2010

24 IASB Exposure Draft on Insurance Contracts 26.10.2010

25 IASB Exposure Draft on Leases 26.10.2010

26 IASB Exposure Draft on Severe Hyperinflation (proposed amendment to IFRS 1) 26.11.2010

27 IASB Exposure Draft on Stripping Costs in the production phase of a Surface Mine 26.11.2010

28 IASB Exposure Draft on The annual improvements process: Proposals to amend the Due Process Handbook for the IASB 26.11.2010

29 IASB Exposure Draft on Effective Dates and Transition Methods 14.12.2010

30 IASB Exposure Draft on Strategy review consultation document 14.12.2010

31 “Presentation of Financial Statements.” - For Local body 24.01.2011

32 Inventories - Accounting Standard for Local Bodies ( ASLB) 7 24.01.2011

1 Pre Budget Memorandum 2011 01.11.20102 Post Budget Memorandum 2011 06.03.2011

1 Suggestions for more effective functioning of DCO Office at Baroda 22.06.20102 Representation for Change in Exam Timings during Summers 13.07.20103 Representation regarding issues related to payment of Stipend to Students 13.07.20104 Representation regarding Timely Receipt of Revisionary Test Papers by Students 26.11.20105 Representation regarding expeditious redressal of Student queries 26.11.2010

Sr. Name of Exposure Draft Date

30

1. All the collections like grant, seminar income, newsletter income, commission on sale of publications and other income made by Branch during the Year have been recorded correctly in the books of account.

2. All the Bank accounts are reconciled and follow up action is taken to recover outstanding amounts.

3. Branch does not keep petty cash book.

4. Proper follow-up action has been taken for dishonored cheques.

5. Branch has purchased its assets out of the Capital Grant only (except Q-Manager worth Rs. 36,450/- , Printer of Rs. 9,200/- & Water Pump of Rs. 4,710/-) and assets have been recorded properly in the Assets Register and physical verification is carried out.

6. Capital Grant Account and Inter Unit Balances with Regional Council and Central Office are duly reconciled as on 31st March, 2011. Balance Confirmation is received from WIRC however no confirmation has been received from Central Office (ICAI HO).

7. Publications Stock are properly maintained and physically verified by the office bearer of the Branch. Stock Register of stationery is not maintained. Stationery is written off when purchased.

8. Practice has been followed for the purchases made during the year i.e. From the lowest quotation received. Systems and Procedures followed for purchases are sound. In respect of technically qualified vendors and certain specific items which are unique, no quotations are invited.

9. The details of the Expenditure and Income of each seminar are enclosed. These are properly accounted for and expenditure is met out of participation fees and there is no shortfall on aggregate basis.

10. Branch has exercised the Budgetary Control system for capital and revenue expenditure.

11. Salary to staff has been given according to the decision of Executive Committee of the Branch.

12. Proper inventories have been kept of the Publications received from Central Office and the Publication Account has been sent to the Central Office quarterly. These publications are valued at sale price.


13. Proper records have been kept for Suggested Answer, Revisionary Test Paper, Study Material, etc. and account of the same has been sent to the Central Office Quarterly..

14. Expenditure on Postage, Rates and Taxes has been properly accounted.

15. Proper accounting has been done for ascertaining cost of the Newsletter published by the Branch and the Newsletter is largely self-supporting.

16. No assets of Branch are unusable or discarded except an LCD projector, a type writer and an Inkjet Printer.

17. We have not observed areas of weak controls.

18. Depreciation has been provided at the rates prescribed by the Institute.

19. Branch has accounted properly the Revenue Grant received as well as receivable.

20. Branch has not paid any amount directly or indirectly to the member of Executive Committee except reimbursement of expenses incurred by them for the Branch activities.

21. The Accounting Standards have been complied with.

22. The Branch has an internal audit system commensurate with its size and nature of its volume of transactions. Internal Audit report has been considered while finalizing Statutory Audit report.

23. Professional tax has not been deducted from payment of salary to staff.

24. The branch has shown various amounts to be receivable from ICAI (Schedule ‘H’) since long. TDS amount to be receivable since from beginning. No confirmation is received for the same from ICAI.

For, Amin Parikh & Co.Chartered Accountants

CA. SAMIR PARIKHPARTNERM. NO.: 41506 Baroda; April 4, 2011

DETAILED AUDIT REPORT

32

BARODA BRANCH OF WIRC OF BALANCE SHEET AS AT 31ST MARCH, 2011

Amount Particulars Schedule (Rs.) (Rs.)

31/03/2011 31/03/2010

A. SOURCES OF FUNDS1 Capital Reserve A 1,997,904 1,961,904 2 General Reserve

Opening Balance 1,835,007 904,350 Add : Transfer from Other Reserve — Add: Surplus during the year 1,473,896 930,659

3,308,903 1,835,007 3 Other Reserves — — 4 Earmarked Funds B 3,545,413 4,308,272 5 Current Liabilities

(a) Other Liabilities C 518,939 364,416 (b) Fees & Income received in advance D 1,059,050 1,364,640 (c) Provision for Expenses. E 87,813 317,672

6 Inter Unit Balance(i) Regional Council/Branch Current A/c — — (ii) Central Council Account — — (iii) ICAI Publication Stock A/c F 68,155 36,485 (iv) ICAI Exam Forms A/c F — — (v) ICAI Blazer Payable Account 15,000 18,000 (vi) ICAI (BOS) Publication Account 426,551 198,381

11,027,727 10,404,777

B. APPLICATION OF FUNDS1 Fixed Assets G 647,158 768,879 2 Investments

Earmarked Investments 268,058 1,704,450 Other Investments 3,529,649 389,945 Earmarked Investments - ITT Centre Baroda 3,329,233 2,532,813

3 Current Assets(i) Stationery & Other Stocks 16,872 8,525 (ii) Other Receivables H 1,992,921 1,021,091 (iii) Advances and Prepayments I 41,965 3,178,247 (iv) Cash and Bank Balance J 692,165 547,960

4 Inter Unit Balance(i) Regional Council/Branch Current A/c — — (ii) Central Council Balance — — (iii) ICAI Publication Stock A/c F 68,155 36,485 (iv) ICAI Exam Forms A/c F — — (v) ICAI Blazer Payable Account 15,000 18,000 (vi) ICAI (BOS) Publication Account 426,551 198,381

11,027,727 10,404,776

NOTES ON ACCOUNTS P

AS PER OUR REPORT OF EVEN DATE FOR BARODA BRANCH OF WIRC OF

FOR AMIN PARIKH & CO. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

CHARTERED ACCOUNTANTS

CA SAMIR PARIKH CA MANILAL PARSIYA CA ASHISH PARIKH CA NAYAN KOTHARIM.NO.:41506 CHAIRMAN SECRETARY TREASURER

PARTNER BARODA: 4th APRIL,2011 BARODA: 4th APRIL,2011

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA


33


THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA INCOME AND EXPENDITURE ACCOUNT FROM 1ST APRIL 2010 TO 31ST MARCH, 2011


31/03/2011 31/03/2010

A. INCOME

1 Grant received

(a) Revenue Grant For 2010-11 168,700 361,400

(b) Material Distribution Grant (BOS) 72,000 72,000

(c) DCO Common Expense Grant 1,169,498 320,356

1,410,198 753,756

2 Income from Seminars/Conferences

(a) Courses/ Seminars/ Conferences 5,865,054 1,997,275

(b) Other Programmes 186,654 124,875

(c) Gen Mgmt & Comm. Skills Course 1,024,000 836,000

(d) Orientation Programme 1,953,000 1,806,000

(e) CPT/IPCC Classes Income 1,476,750 —

3 Income from ITT Center - Baroda 2,569,483 3,313,000

4 Newsletter Income 243,123 201,626

5 Interest Income

(a) Savings Bank Account 36,975 24,877

(b) Fixed Deposits and Other Investments 45,928 54,936

6 Commission on Sale of Publications of ICAI/WIRC

(a) Commission on sale of Publications of ICAI 7,761 2,594

(b) Commission on sale of WIRC Publications 10,023 4,350

(c) Commission on sale of Publication of ICAI (BOS) 108,390 64,778

(d) Commission on sale of Exam Forms 76,025 90,675

7 Other Income L 794,362 287,880

15,807,727 9,562,622

B. EXPENDITURE

1 Salary and Staff Expenses 283,821 19,537

2 Printing, Stationery and Photocopy Expenses 37,363 68,790

3 Newsletter Expense 241,308 200,172

4 Postage, Telegram and Telephone Expenses 93,740 98,207

5 Electricity and Rent, Rates and taxes M 523,805 83,573

6 Repairs and Maintenance 753,595 179,806

7 Expenditure on Seminars/Conferences

(a) Courses/ Seminars/ Conferences 4,928,143 1,970,169

(b) Other Programmes 224,026 241,344

(c) Gen Mgmt & Comm. Skills Course 808,331 789,102

(d) CPT /IPCC Classes 665,933 —

(e) Orientation Programme 1,428,346 860,195

8 Expenditure on ITT Center - Baroda N 1,629,659 1,640,967

8 Bank charges 707 2,147

9 Other Expenses O 354,662 234,319

10 Depreciation G 281,875 355,013

11 Prior Period Expense 61,520 14,296

12,316,834 6,757,637

BARODA BRANCH OF WIRC OF

34


31/03/2011 31/03/2010

Surplus of Baroda Branch Of WIRC Of ICAI 3,490,896 2,804,985

Less : Transfer to Building Maintenance Earmarked Fund 1,500,000 1,000,000

Less : Transfer to ITT Center - Baroda General Reserve 517,000 874,326

NET SURPLUS TRANSFERRED TO GENERAL RESERVE 1,473,896 930,659

NOTES ON ACCOUNTS P







SCHEDULES TO THE BALANCE SHEET AND INCOME & EXPENDITURE ACCOUNTFOR THE PERIOD FROM 1ST APRIL 2009 TO 31ST MARCH 2011

Amount

Particulars (Rs.) (Rs.) 31/03/2011 31/03/2010

SCHEDULE : A

CAPITAL RESERVE

Balance as per last year 1,961,904 1,676,128 Add: Grants received during the yearCapital Grant 2007-08 — 35,000 Capital Grant 2009-10 — 139,215 Library Grant 36,000 39,487 Capital Budget Grant - ITT — 72,074

1,997,904 1,961,904

Particulars Opening Interest Addition Utilization Closing Balancebalance earned (Rs.) (Rs.)

31/03/2011 31/03/2010

SCHEDULE : BEARMARKED FUNDS

1. S.B.Dandekar Prize Fund * 12,629 970 — — 13,599 12,629

2. Scholarship To Students Fund — — 126,000 116,000 10,000 —

3. Gordhandas Dhurabhai Patel ** 51,039 4,064 — 1,653 53,450 51,039

Memorial Prize Fund — — — — — —

4. Building Fund Maintenance Account ** 1,475,840 124,160 1,500,000 3,100,000 — 1,475,840

5. Earmarked Sports Funds * 25,000 1,875 — — 26,875 25,000

6. Earmarked Students Funds * 25,509 1,914 — — 27,423 25,509

7. C. D. Amin & R. J. Parikh Fund ** 58,524 4,390 — 4,101 58,813 58,524

8. Shantaben R. Parikh Fund ** 55,910 4,250 — 4,101 56,059 55,910

9. Building Maintenance Fund (ITT) 1,000,000 64,245 — — 1,064,245 1,000,000

10. ITT Center Reserve 1,603,821 114,128 517,000 — 2,234,949 1,603,821

4,308,272 319,996 2,143,000 3,225,855 3,545,413 4,308,272

Note : * Cumulative FD interest accounted on accrual basis ** No-cumulative FD interest accounted on receipt basis

35


Amount Particulars (Rs.) (Rs.)

31/03/2011 31/03/2010

SCHEDULE : COTHER LIABILITIES

Payable to ICAI for PF of Staff 21,196 14,680

Payable to ICAI for Publication 25,123 122,399

Payable to ICAI for Exams Forms May 2010 — 163,455

Payable to ICAI for Exams Forms May 2011 105,060 —

WIRC Current Account 20,729 13,882

Security Deposit 50,000 50,000

Payable to BOS-Sale of Books, Prospectus Etc. 243,839 —

TDS Payable 5,861 —

Excess Revenue Grant 2010-11 Received 10,544 —

Sundry Creditor 36,587 —

518,939 364,416

SCHEDULE : DFEES AND INCOME RECEIVED IN ADVANCE

Seminar and Conference Advance 300 —

Orientation - 13th Batch — 150,000

3rd CPT Class Advance Fees 278,000 —

2nd IPCC Class Advance Fees 648,750 —

25th GMCS Course Batch 76,000 16,000

ICAI Tanning Centre Baroda - Fees — 380,000

Fees Received in Advance - ITT 56,000 818,640

1,059,050 1,364,640

SCHEDULE : EPROVISION FOR EXPENSES

Telephone & Electricity 4,650 53,000

Salary Expense 12,818 15,892

Printing & Stationary Expense — 6,000

Staff Welfare — 11,663

Maintenance Expense 8,200 16,400

House Keeping Expense — 24,750

Security Charges Expense — 16,464

Postage & Telegrams — 3,000

Newsletter Expense — 2,493

Seminars & Conferences — 16,885

Library Card Expense 2,400 19,042

Audit Fees - Statutory 16,545 16,545

Audit Fees - Internal 43,200 —

Faculty Honorarium — 92,000

Salary — 13,875


87,813 317,672

36


Particulars Nos. Rate Publications Forms Total

SCHEDULE : FICAI PUBLICATION ACCOUNT

A. OPENING STOCK — — 36,485 — 36,485

ADD: RECEIVED —

(i) ARTICLE SHIP FORM NEW — — — — —

(ii) PUBLICATIONS

TG on Accounting for SEZ Dev. Act. 50 10 500 — 500

Standard on Audition (SA) 700 (Revised) 50 10 500 — 500



Standard on Auditing (SA) 200 (Revised) 50 10 500 — 500





The Chartered Accountants Regu., 1988 90 5 450 — 450

Study of Fin. Records and Under. of Audit Tech. 300 10 3,000 — 3,000

THE CHARTERED ACCOUNTANTS ACT1949(REV) 40 5 200 — 200

Code of Ethics (Rev) 240 5 1,200 — 1,200

ISA Prospectus (Revised) 150 40 6,000 — 6,000

ISA Background Material Volume I 250 15 3,750 — 3,750

ISA Background Material Volume II 250 15 3,750 — 3,750 E — Learning CD on Info. Sys. Sec. Cyber

Threats and Review - An intro 100 10 1,000 — 1,000

E - Learning Module on Windows, Network & Wi-Fi Security - An Intro 100 10 1,000 — 1,000

ISSUES IN PUBLIC FINANCE 125 5 625 — 625

TG ON INTERNAL AUDIT OF ED INSTITUTIONS 200 5 1,000 — 1,000

TG ON INTERNAL AUDIT OF CONST INDUSTRY 150 5 750 — 750

STANDARD ON REVIEW ENGAGEMENTS- 2400 50 5 250 — 250

STANDARD ON REVIEW ENGAGEMENTS- 2410 50 5 250 — 250

A STUDY ON FORGN CONTRI. ACT1976 AN ANAL 400 5 2,000 — 2,000

CONCE. PAPER GOODS & SERVICE TAX INDIA & ROLE 50 5 250 — 250

GUIDANCE NOTE ON AUDIT OF BANK 750 50 37,500 — 37,500

Total (i)+(ii) 103,960 103,960


B. SALES

Study on Share Valuation (1994) 80 2 160 — 160

Guidance Note on Accounting by Schools 50 3 150 — 150

TG on Account. and Auditing in NPOs, NGOs 150 3 450 — 450

Study on Unconventional Methods in Special Audit and Investigations 100 2 200 — 200

Checklist for Disclosures under Accounting Standards 100 2 200 — 200

Technical Guide on Revenue Recognition for Software 100 2 200 — 200

TG on Estimation of Future Cash Flows and discount Rates for the purpose of AS 28 60 1 60 — 60

Tg on Accounting for SEZ Development Activities 50 6 300 — 300

Statement on the Companies (Auditor's Report) Order,2003 Revised 2005 Edition 250 2 500 — 500

37


Practitioner's Guide to Audit of Small Entities 300 2 600 — 600

Standard on Auditing (SA) 270 50 10 500 — 500

FAQs (Rev) 75 1 75 — 75

The Chartered Accountants Regulations, 1988 90 1 90 — 90

Study of Financial Records and Understanding of Audit Techniques 300 10 3,000 — 3,000

Clean Development Mechanism and Carbon Credits- A Primer 150 2 300 — 300

A Study on Registration of Charges Under the Companies Act,1956 120 2 240 — 240

Reference on Foreign Exchange Management,1999 200 2 400 — 400

THE CHARTERED ACCOUNTANTS ACT1949(REV) 40 3 120 — 120

Code of Ethics (Rev) 240 4 960 — 960

Technical Guide on IS Audit 250 2 500 — 500

Technical Guide on System Audit of Stock Brokers 200 2 400 — 400

ISA Prospectus (Revised) 150 20 3,000 — 3,000

ISA Background Material Volume I 250 4 1,000 — 1,000

ISA Background Material Volume II 250 4 1,000 — 1,000

Technical Guide on Migration Audit 70 10 700 — 700

E - Learning CD on Information System Security Cyber Threats and Review - An intro 100 1 100 — 100

E - Learning Module on Windows, Network & Wi-Fi Security - An Intro 100 1 100 — 100

Technical Guide on Review and Certification of Investments Risk Management System and Process of Insurance Committee 225 2 450 — 450

Technical Guide on Internal / Concurrent Audit of Investment Function of Insurance Companies 150 2 300 — 300

Study on benefits of Preferential Trade Agreements 200 1 200 — 200

Technical Guide on Risk-based Internal Audit in Banks 150 5 750 — 750

General Guidelines on Internal Audit 100 2 200 — 200

Framework for Standards on Internal Audit 25 2 50 — 50

Manual on Concurrent Audit of Banks 450 1 450 — 450

Training Material on Internal Audit 600 2 1,200 — 1,200

Guide to Implementing Enterprise Risk Management Framework 150 2 300 — 300

Internal Audit Manual 400 2 800 — 800

Technical Guide on Internal Audit of Intangible Assets 150 1 150 — 150

Technical Guide on Internal Audit of Stock Brokers 250 2 500 — 500

Standard on Internal Audit (SIA) 17 25 3 75 — 75

TG on Internal Audit of Treasury Functions in Banks 150 10 1,500 — 1,500

A Study on Non-Compliance with Financial Reporting and Auditor's Report thereon 225 10 2,250 — 2,250

Code of Governance for NGO's 250 2 500 — 500

Training Manual on Eng. & Quality control 650 1 650 — 650 ISSUES IN PUBLIC FINANCE 125 5 625 — 625 TG ON INTERNAL AUDIT OF ED INSTITUTIONS 200 5 1,000 — 1,000 TG ON INTERNAL AUDIT OF CONST INDUSTRY 150 5 750 — 750 STANDARD ON REVIEW ENGAGEMENTS- 2400 50 3 150 — 150 STANDARD ON REVIEW ENGAGEMENTS- 2410 50 3 150 — 150 A STUDY ON FORGN CONTRIBUTION ACT1976 AN ANAL 400 5 2,000 — 2,000 CONCEPT PAPER GOODS & SERVICE TAX INDIA & ROLE 50 5 250 — 250 GUIDANCE NOTE ON AUDIT OF BANK 750 7 5,250 — 5,250

35,805 35,805


38


C. MATERIAL RETURN TO ICAI - -

D. PUBLPING OF OBSOLETE MATERIAL - -

E CLOSING STOCK 68,155 1,695

Nos. Rate Amount Total

SCHEDULE : F (Continued)STOCK OF EXAMINATION FORMS

A. OPENING STOCK AS AT 1-4-2010 — — — — ADD: RECEIVEDNovember 2011 Exam Forms 1,955 100 195,500 November 2011 Final Exam Forms 600 500 300,000 CPT June 2010 1,400 600 840,000 CPT Dec. 2010 1,500 600 900,000 2,235,500

2,235,500 B. LESS: SALES

November 2011 Exam Forms 916 100 91,600 November 2011 Final Exam Forms 64 500 32,000 CPT June 2010 1,230 600 738,000 CPT Dec. 2010 847 600 508,200 1,369,800

1,369,800

LESS: DESTROYEDNovember 2011 Exam Forms 1,039 100 103,900 November 2011 Final Exam Forms 536 500 268,000 CPT June 2010 170 600 102,000 CPT Dec. 2010 653 600 391,800 865,700

865,700 C. CLOSING STOCK AS AT 31-3-2011 — — — —

D. EXAM FORM HANDLING INCOMENovember 2011 Exam Forms 13,740 November 2011 Final Exam Forms 4,800 CPT June 2010 18,450 CPT Dec. 2010 12,705 49,695

49,695 E. SALE PROCEEDS REMITTED TO ICAI

November 2011 Exam Forms — November 2011 Final Exam Forms — CPT June 2010 719,550 CPT Dec. 2010 495,495 1,215,045

1,215,045

F. PAYABLE TO ICAI AS ON 31-3-02011 105,060 105,060


39

th44 ANNUAL REPORT 2010-11SC

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200,5

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Amount

Particulars (Rs.) (Rs.)

31/03/2011 31/03/2010

SCHEDULE : HOTHER RECEIVABLES

Baroda CPE Study Circle of WIRC 21,820 —

Receivables for Seminars & Conference 300 7,000

ICAI Receivable- TDS 135,343 103,324

ICAI Receivable- Staff Salary - Ketan 71,636 29,676

Receivable from ICAI - Award Function (Feb. 2011) 13,720 —

Receivable from ICAI - Convocation Expense 59,165 —

Receivable from ICAI - Campus Interview (Feb. 11) 86,278 —

Receivable from ICAI - BOS Material Distribution Grant 90,000 18,000

Receivable from ICAI - Public Programme on Corporate Governance — 210,433

Receivable from ICAI - Public Programme on Investment Awareness 10,000 50,000

Receivable from ICAI - Expense of Traveling — 15,600

Receivable from ICAI - DCO Expenses 1,169,498 208,178

Receivable from ICAI - Cricket Matches 26,329 —

Receivable from WIRC - Mumbai — 18,058

Receivable from Centour Travel Services — 9,390

Receivable from GEB Deposit- Regional Conference 4,5th July 2008 — 10,000

Baroda Branch Of WICASA 275,720 250,029

Receivable from Reliance Mutual Funds — 24,500

Receivable from Vadodara Mahanagar Seva Sadan — 15,000

Receivable from - Anand Branch WIRC of ICAI — 51,904

Receivable from WIRC - Mumbai - March 11 Award Function 14,112 —

Receivable from Prabhudash Lilathardas - Sponsorship 10,000 —

Rent For Hall Receivable - Reliance Capital Asset Mgt. 6,000 —

Canteen Rent Receivable 3,000 —

Total 1,992,921 1,021,091

SCHEDULE : ILOANS, ADVANCES AND PREPAYMENTS

Baroda Branch Bhawan - Loan — 3,100,000

Ramkrishna Maintenance Deposits 5,000 5,000

Receivable from C.C Mehta Auditorium — 10,560

Staff Advances - Jagdish Prajapati 2,400 —

Staff Advances - Ketan Kharva 6,800 —

Staff Loan (ITT) - Amit Shah 13,400 —

ICAI Training Class - Prepaid Expense — 62,687

Prepaid Expenses 14,365 —

Total 41,965 3,178,247

SCHEDULE : JCASH AND BANK BALANCE

Axis Bank- Alkapuri A/c No.01310101152957 397,283 17,540

Axis Bank- Alkapuri A/c No.910010009005412 211,419 259,944

Axis Bank- ITT -013010101187281 83,463 270,476

Total 692,165 547,960

41


31/03/2011 31/03/2010

SCHEDULE : LOTHER INCOME

Hall Hire Charges 688,227 237,250

Sale of Member's Directory 4,600 4,950

Other Income 11,235 730

Advertisement on notice board 13,550 7,000

Cafeteria Rent Income 36,000 7,500

Election Fees 2010-12 — 200

Library Card Fees 40,750 30,250

Total 794,362 287,880

SCHEDULE : MRENT, RATES & TAXES

Electricity Expenses (Net) 417,301 31,691

Rates & Taxes 106,504 51,882

Total 523,805 83,573

SCHEDULE : NITT EXPENSES

A.C AMC Expenses — 694

Account Writing Expense 12,000 6,000

Advertisement Expense — 5,428

Bank Charges 56 8,472

Bonus to Staff 33,766 7,100

Computer AMC Expenses 7,612 34,650

Computer Spares & Repairs 65,671 7,925

Electricity charges 277,836 179,912

Faculty Honorarium 515,850 864,620

GPRS Machine Rent 3,309 —

Hose Keeping Expense 74,603 —

Internet & Telephone charges — 8,252

Lab Rent 240,000 116,310

Municipal Taxes — 24,294

Other Expenses 12,244 27,590

Printing & Stationery and Photocopying Expenses 75,702 11,420

Salary 228,101 239,235

Software Expenses — 12,133


Website Expense 24,140 45,873

Security Expense 58,769 —

Total 1,629,659 1,640,967


42


31/03/2011 31/03/2010

SCHEDULE : OOTHER EXPENSES

Accounting Charges 43,500 24,000

Activity Report Expense 21,172 18,310

Advertisement Expenses — 5,850

AGM Expense 25,425 14,307

Computer Expense — 3,342

Conveyance Expense 5,451 5,846

Internet, Email and SMS Expense 12,500 18,750

Internal Audit 48,000 —

Library Card Expense 50,492 21,414

Meeting Expenses 10,464 2,965

Misc. expense 6,824 5,988

Office Expenses 46,258 25,780

Staff Welfare 26,139 31,006

Statutory Audit Fees 16,545 16,545

E-TDS filing fees — 2,400

Traveling Expenses 41,892 37,816

Total 354,662 234,319


SCHEDULE : P

SCHEDULES ATTACHED TO & FORMING PART OF THE BALANCE SHEET AND PROFIT & LOSS ACCOUNT FOR THE PERIOD ENDED ON 30.03.2011

A) SIGNIFICANT ACCOUNTING POLICIES

1 Accounting ConventionAccounts are drawn on Historical Cost Basis.

2 Fixed Assets and DepreciationDepreciation on Library Books is provided at 100% and on other assets on W.D.V. Method as per Accounting Manual of ICAI.

3 GrantsCapital Grants including Library grants are accounted on Receipt Basis & Grant for Public Program, Material Distribution (BOS) Revenue Grants are Accounted on accrual basis.

4 Current AssetsCurrent Assets Stock of ICAI and WIRC are accounted at transfer price

5 Revenue RecognitionAll Incomes and Expenditures are accounted on accrual basis.

6 Income from InterestThe Interest on Cumulative Fixed Deposits with banks is accounted for on accrual basis and on Non-Cumulative Fixed Deposit with banks is accounted for on receipt basis at the rates applicable to such deposits. Income from earmarked investments of specific funds is credited to respective funds. The income from investments not earmarked is credited to the Income & Expenditure Account.

B) NOTES TO ACCOUNTS

1 Earmarked InvestmentsAll the Earmarked Investments have been invested in Fixed Deposits with State Bank of India, Axis Bank, Alkapuri Branch.

2 Accounting of Branch PremisesAs prescribed by ICAI, particulars with respect to Branch Building have not been incorporated in these accounts, as the same are to be incorporated directly in ICAI Accounts.

43


(i) Branch Premises- ICAI Bhavan and Ramkrishna ChambersAccounting of Receipts and Payments is done in accordance with ICAI Accounting Manual.

(i) Baroda ICAI Bhawan – Atladra, BarodaA separate Receipts & Payments Account in accordance with ICAI Accounting Manual for the acquisition of land & construction of ICAI Bhavan is enclosed as Annexure IV to Notes to Account.

3 Allocation of Newsletter Printing ExpensesExpenses on printing of Newsletter is allocated to the Conferences, Seminars, Lecture Meetings , Workshops, WICASA Baroda and Baroda CPE Study Circle on the basis of actual space utilised for the display of Conferences, Seminars, Lecture Meetings, Workshops, WICASA events and Baroda CPE Study Circle meetings in the Newsletter.

4 Tax deducted at source from Bank Interest and Other Income is shown as Receivable from ICAI.

5 Interest Accrued on investment of Earmark Fund, till utilised, is credited to the respective Corpus Fund.

6 Pending Claims towards reimbursement of expenses of ICAI DCO Office - amounting to Rs. 11,69,498/- shown as receivable from ICAI.

7 Financial Statement of Baroda Branch includes Income and Expenditure, Assets and Liability of ITT Centre, Baroda. However as per the Policy of the Institute, ITT Centre’s financial statement is prepared and presented separately as a part of disclosure requirement.

8 Loan given to ICAI Bhawan of RS. 31 Lacs has been squared off against earmarked fund for Building Maintenance and treated as contribution from Baroda Branch to ICAI Bhawan.

9 Prior Period Expenses charged to Income and Expenditure Account during the year amounting to Rs. 61,520/- includes amount of Rs. 51,904/- which is to be recovered from Anand Branch for Regional Conference has been written off during the year.

10. Figures of the previous period have been regrouped and rearranged whenever necessary to make them comparable.

11. All the advances and receivables are subject to confirmations.

12. Figures are rounded off to the nearest rupee.





PARTNER

BARODA: 4th APRIL,2011 BARODA: 4th APRIL,2011

44






THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA BALANCE SHEET AS AT 31ST MARCH, 2011


31/03/2011 31/03/2010

A. SOURCES OF FUNDS

1 Capital Grant Reserve A 878,974 878,974

2 General Reserve

Opening Balance 672,247 73,527

Add: Transfer from Other Reserve — —

Add: Surplus during the year 314,581 598,720

986,828 672,247

3 Other Reserves —

4 Earmarked Funds B 3,299,194 2,603,821

5 Current Liabilities

ITT Fees Received in Advance 56,000 818,640

Others Liabilities C — 115,538

5,220,996 5,089,220

B. APPLICATION OF FUNDS

1 Fixed Assets D 234,240 342,483

2 Investments

Earmarked Investments 3,329,233 2,532,812

IT Center Reserve Fund — —

Other Investments - FD with Axis — —

3 Current Assets

Advances and Prepayments E 1,574,060 1,943,449

Cash and Bank Balance F 83,463 270,476

5,220,996 5,089,220

NOTES ON ACCOUNTS H

- ITT CENTRE- BARODA BRANCH


45

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA - ITT CENTRE- BARODA BRANCH INCOME AND EXPENDITURE ACCOUNT FROM 1st APRIL 2010 TO 31st MARCH, 2011


31/03/2011 31/03/2010

A. INCOME 1 Fees Income 2,558,640 3,313,000

2 Interest IncomeSavings Bank Account 7,530 8,326 Fixed Deposits and Other Investments 3,313 8,048

2,569,483 3,329,374

B. EXPENDITURE 1 ITT Lab Expenses G 1,629,659 1,640,967

2 Depreciation D 108,243 215,357

1,737,902 1,856,324

Surplus 831,581 1,473,050 Less : FEES Transferred to IT Center Reserve 517,000 874,326

NET SURPLUS TRANSFERRED TO GENERAL RESERVE 314,581 598,724

NOTES ON ACCOUNTS H







SCHEDULES TO THE BALANCE SHEET AND INCOME & EXPENDITURE ACCOUNTFOR THE PERIOD FROM 1st APRIL 2010 TO 31st MARCH 2011

Amount

Particulars (Rs.) (Rs.) 31/03/2011 31/03/2010

SCHEDULE : ACAPITAL RESERVE

Balance as per last year 878,974 806,900 Add: Grants received during the yearCapital Grant — 72,074

Total 878,974 878,974

46


SCHEDULE : DFIXED ASSETS - ITT

Rate GROSS BLOCK DEPRECIATION BLOCK NET BLOCK

% Opening Addi- Closing Opening Adjust Depr- Closing Rs. Rs.Balance tions Balance Balance ments eciation Balance 31/03/11 31/03/10

Computer & Printer 60% 911,495 - 911,495 767,061 - 86,660 853,721 57,773 144,433

Electrical Installation 10% 75,920 - 75,920 17,883 - 5,804 23,687 52,232 58,036

Furniture & Fixtures 10% 136,502 - 136,502 32,043 - 10,446 42,489 94,013 104,459

Air Conditioner 15% 52,200 - 52,200 16,645 - 5,333 21,978 30,222 35,555

Total 1,176,117 - 1,176,117 833,632 - 108,243 941,875 234,240 342,483

Particulars Opening Interest Addition Utilization Closing Balancebalance earned (Rs.) (Rs.)

31/03/2011 31/03/2010

SCHEDULE : BEARMARKED FUNDS

Building Fund Account 1,000,000.00 64,245.00 — — 1,064,245 1,000,000 IT Center Reserve 1,603,821.00 114,128.00 517,000.00 — 2,234,949 1,603,821

Total 2,603,821.00 178,373.00 517,000.00 — 3,299,194 2,603,821

SCHEDULE : COTHER LIABILITIES

Faculty Honorarium — 92,000 Salary — 13,875 Staff Welfare — 9,663

Total — 115,538


31/03/2011 31/03/2010

SCHEDULE : ELOANS, ADVANCES AND PREPAYMENTS

Baroda Branch Control Account 1,560,660 1,943,449 Loan to Staff - Mr. Amit Shah 13,400 —

Total 1,574,060 1,943,449

SCHEDULE : FCASH AND BANK BALANCE

Axis Bank- 013010101187281 83,463 270,476

Total 83,463 270,476

SCHEDULE : GITT EXPENSES

A.C AMC Expenses — 694 Account Writing Expense 12,000 6,000 Advertisement Expense — 5,428 Bank Charges 56 8,472 Bonus to Staff 33,766 7,100 Computer AMC Expenses 7,612 34,650 Computer Spares & Repairs 65,671 7,925 Electricity charges 277,836 179,912 Faculty Honorarium 515,850 864,620

47

SCHEDULE : H

SCHEDULES ATTACHED TO & FORMING PART OF THE BALANCE SHEET AND PROFIT & LOSS ACCOUNT FOR THE PERIOD YEAR ENDED ON 31.03.2011

A) SIGNIFICANT ACCOUNTING POLICIES

1. Accounting Convention : Accounts are drawn on historical cost basis

2. Fixed Assets and Depreciation : Depreciation on assets on W.D.V. Method as per Accounting manual of ICAI.

3. Grants : Revenue Grants are accounted for on accrual basis. Capital Grants are accounted on receipt basis.

4. Revenue Recognition : All Income and Expenditure are accounted on accrual basis.

5. Income from Interest : The interest on fixed deposits with banks is accounted for on accrual basis at the rates applicable to such deposits. Income from earmarked investments of specific funds is credited to respective funds. The income from investments not earmarked is credited to the Income & Expenditure Account.

B) NOTES TO ACCOUNTS

1. Earmarked Investments : All the Earmarked Investments have been invested in Fixed Deposits with Axis Bank, Alkapuri Branch.

2. Figures of the previous year have been regrouped and rearranged wherever necessary to make them comparable.

3. Figures are rounded off to the nearest rupee.



31/03/2011 31/03/2010

GPRS Machine Rent 3,309 — Hose Keeping Expense 74,603 — Internet & Telephone charges — 8,252 Lab Rent 240,000 116,310 Municipal Taxes — 24,294 Other Expenses 12,244 27,590 Printing & Stationery and Photocopying Expenses 75,702 11,420 Salary 228,101 239,235 Software Expenses — 12,133 Staff Welfare — 41,059 Website Expense 24,140 45,873 Security Expense 58,769 —

Total 1,629,659 1,640,967






48


STATEMENT OF PROGRAMME WISE SURPLUS / DEFICITFOR THE PERIOD FROM 1ST APRIL 2010 TO 31ST MARCH, 2011

NAME OF PROGRAM DATE(S) INCOME EXPENDITURE SURPLUS/(DEFICIT)

Courses/ Seminars/ Conferences

1 FULL DAY WORKSHOP ON EXCEL AS AN AUDIT TOOL 01.05.2010 24,200.00 15,004.00 9,196.00

2 FULL DAY SEMINAR ON CHARITABLE TRUST 15.05.2010 44,357.00 36,710.00 7,647.00

3 DIRECT TAX REFRESHER COURSE 22.05.2010 95,050.00 40,739.00 54,311.00

4 WIRC CONFERENCE FOR MEMBERS IN INDUSTRY 12.06.2010 410,500.00 311,400.00 99,100.00

5 INTENSIVE COURSE ON GUJARAT VAT 19.06.2010 50,550.00 27,054.00 23,496.00

6 INTENSIVE COURSE ON INTERNATIONAL TAXATION 03.07.2010 108,600.00 41,225.00 67,375.00

7 INTERNATIONAL RRC -3RD 02.08.2010 2,441,500.00 2,438,136.00 3,364.00

8 INTENSIVE COURSE ON IFRS - 1 06.08.2010 513,000.00 197,872.00 315,128.00

9 COMPANY LAW REFRESHER COURSE 21.08.2010 15,700.00 7,382.00 8,318.00

10 STATUTORY & TAX AUDIT HALF DAY SEMINAR 30.08.2010 24,000.00 37,030.00 (13,030.00)

11 INTENSIVE COURSE ON IFRS -2 07.10.2010 375,500.00 236,227.00 139,273.00

12 NATIONAL WORKSHOP INTERNAL AUDIT 23.10.2010 130,150.00 90,889.00 39,261.00

13 FULL DAY WORK SHOP ON TALLY AS AN AUDIT TOOL 20.11.2010 6,600.00 1,049.00 5,551.00

14 FULL DAY WORKSHOP ON ASSESSMENT & APPELLATE PROCEEDINGS 27.11.2010 108,000.00 59,772.00 48,228.00

15 HALF DAY SEMINAR ON STANDARD OF AUDITING 04.12.2010 34,550.00 10,920.00 23,630.00

16 FULL DAY SEMINAR ON FEMA 11.01.2010 71,950.00 54,843.00 17,107.00

17 FULL DAY SEMINAR ON SERVICE TAX 18.12.2010 80,150.00 71,659.00 8,491.00

18 FULL DAY WORKSHOP ON CAPACITY BUILDING 25.12.2010 68,747.45 28,023.00 40,724.45

19 20 TH R R C ( AT RAJASTHAN) 05.01.2011 990,800.00 963,690.00 27,110.00

20 ADVANCE G M C S FOR MEMBERS 22.01.2011 60,450.00 37,403.00 23,047.00

21 HALF DAY PROGRAM ON CURRENCY DERIVATIVES 29.01.2011 7,850.00 14,506.00 (6,656.00)

22 JOINT SEMINAR - IT SQUARE 19.02.2011 20,800.00 20,800.00 —

23 PUBLIC PROGRAMME AT C.C. MEHTA AUDITORIUM 12.03.2011 50,000.00 63,875.00 (13,875.00)

24 SEMINAR ON STATUTORY BANK BRANCH AUDIT 19.03.2011 132,050.00 121,935.00 10,115.00

Sub- Total A 5,865,054.45 4,928,143.00 936,911.45

Other Programmes

25 LECTURE MEETING - TAXATION OF REAL ESTATE TRANSACTIONS 13.04.2010 6,525.00 7,004.00 (479.00)

26 LECTURE MEETING - E-FILLING & CONTROVERSIES IN TDS RETURN 24.04.2010 3,575.00 1,000.00 2,575.00

27 WORKSHOP ON EXCISE & CUSTOMS 17.05.2010 20,200.00 18,900.00 1,300.00

28 LECTURE MEETING ON SATYAM SAGA 27.06.2010 — 12,547.00 (12,547.00)

29 CA CELEBRATION DAY 01.07.2010 22,050.00 41,341.00 (19,291.00)

30 VICE PRESIDENT'S FELICITATION 08.07.2010 — 15,340.00 (15,340.00)

31 LECTURE MEETING ON COMPANY LAW SETTLEMENT SCHEME 16.07.2010 1,300.00 3,349.00 (2,049.00)

32 DIWALI MILAN 13.11.2010 16,600.00 16,620.00 (20.00)

33 FAMILY WORKSHOP ON TOTAL HEALTH FOR MEMBERS 21.11.2010 — 644.00 (644.00)

34 CRICKET MATCH AGAINST WICASA BARODA 01.01.2011 3,079.00 3,079.00 —

35 CRICKET MATCH AGAINST SURAT ICAI 23.01.2011 17,898.00 17,898.00 —

36 CRICKET MATCH AGAINST CAA AHEMDABAD 30.01.2011 5,352.00 5,352.00 —

37 WORKSHOP FOR ACCOUNTANTS 01,04,15,22.02.2011 15,275.00 6,254.00 9,021.00

38 PAST CHAIRMAN MEETING 02.02.2011 — 7,560.00 (7,560.00)

39 FAMILY PICNIC 06.02.2011 14,500.00 14,564.00 (64.00)

40 AWARD CELEBRATION AT BARODA 24.02.2011 — 1,184.00 (1,184.00)

41 TENNIS TOURNAMENT 27.02.2011 1,350.00 3,620.00 (2,270.00)

42 LIVE SCREENING OF BUDGET 2010-11 28.02.2011 — 6,620.00 (6,620.00)

43 ANALYSIS OF FINANCE BILL-2011 02.03.2011 58,950.00 31,660.00 27,290.00

44 HOLI MILAN 20.03.2011 — 8,470.00 (8,470.00)

45 LECTURE MEETING ON GEETA 22.03.2011 — 1,020.00 (1,020.00)

Sub- Total B 186,654.00 224,026.00 (37,372.00)

ANNEXURE - III

49

NAME OF PROGRAM DATE(S) INCOME EXPENDITURE SURPLUS/(DEFICIT)

46 GMCS 20 TH BATCH 220,000.00 165,022.00 54,978.00

47 GMCS 21 TH BATCH 224,000.00 167,028.00 56,972.00

48 GMCS 22 TH BATCH 188,000.00 161,125.00 26,875.00

49 GMCS 23 TH BATCH 200,000.00 160,825.00 39,175.00

50 GMCS 24 TH BATCH 192,000.00 154,331.00 37,669.00

Sub- Total 1,024,000.00 808,331.00 215,669.00

51 ORIENTATION 13TH BATCH 168,000.00 50,720.00 117,280.00













Sub- Total 1,953,000.00 665,933.00 1,287,067.00

64 CPT CLASSES - BATCH 1 456,000.00 309,853.00 146,147.00

65 CPT CLASSES - BATCH 2 175,500.00 222,019.00 (46,519.00)

66 CPT CLASSES - BATCH 3

67 IPCC CLASSES - BATCH 1 629,000.00 641,301.70 (12,301.70)

68 IPCC CLASSES - BATCH 2 216,250.00 255,172.00 (38,922.00)

Sub- Total 1,476,750.00 1,428,345.70 48,404.30

Sub- Total C 4,453,750.00 2,902,609.70 1,551,140.30

Total (A + B + C) 10,505,458.45 8,054,778.70 2,450,679.75







50


RECEIPT AND PAYMENT OF BUILDING ACCOUNT (ICAI BHAVAN) FOR THE YEAR ENDED ON 31st MARCH, 2011

Amount (Rs)PARTICULARS 31/03/2011 31/03/2010

A. Receipts1 Opening BalanceA Cash Balance - -

B Bank Balance 594,361.00 220,281.002 Contribution From ICAI - 15,000,000.00 3 Contribution From Members 684,850.00 7,953,021.00 4 Contribution From Others - 711,000.00 5 Contribution From CPE Study Circle - 70,000.00 6 Baroda Branch of Wirc of Icai - 2,707,113.00 7 Retention And EMD 17,170.00 - 8 Interest On FD & S.B. Bank 147,056.00 136,478.00 9 Tender Fees - - 10 Amount Transfer from Matured F.D. 1,468,425.00 4,430,221.00

TOTAL RECEIPTS 2,911,862.00 31,228,114.00

B Payments

I Loan Payment 155,305.00 -

1 Bridge Loan Payment 42,175.00 -

2 Baroda Branch of WIRC 113,130.00

II Cost of Building : 1,171,392.00 29,379,974.00

1 Construction Work 324,006.00 14,517,070.00

2 Air Conditions 58,873.00 1,600,947.00

3 Architect Fees 174,714.00 535,468.00

4 Design Charges - 2,807.00

5 Cement - 1,477,390.00

6 Steel Purchase - 2,058,108.00

7 Borwell Expenses 51,410.00 16,700.00

8 Chemical Treatment - 24,960.00

9 Electricity Bills - 110,960.00

10 Paints-exterior - 185,000.00

11 Fountain - 260,700.00

12 Rolling Shutter - 108,861.00

13 Water Level Indicator - 11,951.00

14 Land Scaping 97,446.00 -

15 Water Drainage Connection Exp 25,100.00 -

16 Electrical Installation 60,000.00 755,267.00

17 Ups - 228,466.00

18 Audio Visual System - 716,000.00

19 CC Tv System - 405,000.00

20 Curtains - 82,803.00

21 Doormats 10,000.00

22 Furniture's 111,629.00 5,471,180.00

23 Submersible Pump 13,000.00 -

24 Shed 206,626.00 -

25 Sign Board 41,968.00 -

26 Internal Connection - 9,927.00

27 Telephone System - 7,072.00

28 Water Coolers - 130,000.00

51







Amount (Rs)PARTICULARS 31/03/2011 31/03/2010

Other Expenses

29 Account Writing Charges 500.00 -

30 Advocate Fees - 3,250.00

31 Corporation Approval Fees - 40,675.00

32 Legal Expenses 18,000.00

33 Bank Charges 20.00 1,050.00

34 Inauguration Expense - 312,719.00

35 Printing And Stationary - 15,053.00

36 Salary 5,000.00 55,000.00

37 Staff Welfare - 5,755.00

38 Traveling Expense - 2,020.00

39 Watchman Salary - 14,903.00

40 Foundation Stone Ceremony - 83,065.00

41 Sign Board Expense - 80,070.00

42 Miscellaneous Exp 1,100.00 21,777.00

III Investments & Deposits 1,537,237.00 1,253,779.00

43 EMD 75,000.00 - 44 FD for Retention Money 17,097.00 1,027,097.00

45 Fixed Deposit 892,000.00 -

46 Geb Deposit - 226,682.00

47 Retention Money 525,875.00 -

48 TDS Payment 27,265.00

IV Closing Balance 47,928.00 594,361.00

A Cash Balance - -

B Bank Balance 47,928.00 594,361.00

TOTAL PAYMENTS 2,911,862.00 31,228,114.00

52

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

baroda branch of · the baroda branch of the western india regional council of the institute of...

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