The Management Accountant - November 2024
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November 2024 Vol. 59 No. 11 Pages - 124 100
Energy Consumption
Management
A HOLISTIC APPROACH TO
GREENER FUTURE
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
(Statutory Body under an Act of Parliament)
Journal of
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Printed and Published by
CMA Kaushik Banerjee on behalf of The Institute of Cost Accountants of India, 12, Sudder Street, P. S. New Market, Dist:
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12, Sudder Street, P. S. New Market, Dist: Kolkata, West Bengal - 700 016.
Editor – CMA Sucharita Chakraborty on behalf of The Institute of Cost Accountants of India, 12, Sudder Street, P. S.
New Market, Dist: Kolkata, West Bengal - 700 016.
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ICMAI
The Institute of Cost Accountants of India
(Statutory body under an Act of Parliament)
www.icmai.in
The Management Accountant, official organ of
The Institute of Cost Accountants of India, established in 1944
(founder member of IFAC, SAFA and CAPA)
Printed and Published by
CMA Kaushik Banerjee on behalf of The Institute of Cost
Accountants of India, 12, Sudder Street, P. S. New Market,
Dist: Kolkata, West Bengal - 700 016 and printed at – Spenta
Multimedia Pvt. Ltd., Plot 15, 16 & 21/1 Village – Chikhloli,
Morivali, MIDC, Ambernath (West), Dist: Thane – 421505 and
published at – The Institute of Cost Accountants of India, 12,
Sudder Street, P. S. New Market, Dist: Kolkata, West Bengal -
700 016.
Editor – CMA Sucharita Chakraborty on behalf of The
Institute of Cost Accountants of India, 12, Sudder Street,
P. S. New Market, Dist: Kolkata, West Bengal - 700 016.
For the purpose of RNI Compliance
Chairman, Journal & Publications Committee
CMA Harshad Shamkant Deshpande
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~
THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
(erstwhile The Institute of Cost and Works Accountants of
India) was established in 1944 as a registered company
under the Companies Act with the objects of promoting,
regulating and developing the profession of Cost
Accountancy.
~
On 28 May 1959, the Institute was established by a
special Act of Parliament, namely, the Cost and Works
Accountants Act 1959 as a statutory professional body for
the regulation of the profession of Cost & Management
Accountancy.
~
It has since been continously contributing to the growth
of the industrial and economic climate of the country.
~
The Institute of Cost Accountants of India is the only
recognized statutory professional organisation and
licensing body in India specialising exclusively in Cost &
Management Accountancy.
VISION STATEMENT
“The Institute of Cost Accountants of India would be the
preferred source of resources and professionals for the
financial leadership of enterprises globally.”
MISSION STATEMENT
“The CMA Professionals would ethically drive enterprises
globally by creating value to stakeholders in the socio-
economic context through competencies drawn
from the integration of strategy, management and
accounting.”
IDEALS THE INSTITUTE STANDS FOR
~
to develop the Cost and Management Accountancy
Profession
~
to develop the body of members and properly equip
them for functions
~
to ensure sound professional ethics
~
to keep abreast of new developments
Headquarters:
CMA Bhawan, 12 Sudder Street, Kolkata - 700016
Delhi Office:
CMA Bhawan, 3, Institutional Area, Lodhi Road
New Delhi - 110003
Behind every successful business decision,
there is always a CMA
SOLAR ENERGY TECHNOLOGY AND
ITS ROLE IN SUSTAINABLE DEVELOPMENT
IN INDIA ....... 19
ROLE OF CMAs IN RENEWABLE ENERGY MANAGEMENT ....... 23
INDIA’S ENERGY MANAGEMENT SOLUTIONS:
CONQUERING CHALLENGES, GUIDING THE GLOBE ....... 27
ENERGY SECURITY AND NON-CONVENTIONAL ENERGY SOURCES:
AN INTERTWINED TWOFOLD IMPETUS TO PROPEL INCLUSIVE AND
SUSTAINABLE DEVELOPMENT ....... 31
ENERGY MANAGEMENT AND DECARBONISATION:
THE NEED, THE WAY FORWARD AND THE ROLE OF CMAs ....... 36
THE SUN NEVER SETS FOR A GREEN FUTURE ....... 42
OPTIMIZING ENERGY CONSUMPTION IN THE CIRCULAR ECONOMY:
THE STRATEGIC ROLE OF CMAs ....... 47
ENERGY MANAGEMENT SOFTWARE:
A VERITABLE GAME CHANGER FOR THE MODERN-DAY BUSINESS ENTERPRISE
....... 52
KEY ASPECTS IN ENERGY CONSERVATION ....... 58
BIOFUEL-REDEFINING THE PATH TO ENERGY SUSTAINABILITY IN INDIA ....... 61
ENERGY MANAGEMENT AND ESG ....... 65
ROLE OF CMAs IN ENERGY AUDIT ....... 70
4 The Management Accountant - November 2024
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Contents
Inside
November 2024
NOVEMBER VOL 59 NO.11 `100
Cover Story
Interview
CMA (Dr.) Bijay Kumar Mohanty
Director (Finance)
IREDA
....... 76
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November 2024 - The Management Accountant
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All images in this issue are sourced from google.
PRESIDENT
CMA Bibhuti Bhushan Nayak
president@icmai.in
VICE PRESIDENT
CMA T C A Srinivasa Prasad
vicepresident@icmai.in
COUNCIL MEMBERS
CMA (Dr.) Ashish Prakash Thatte, CMA Ashwin G. Dalwadi, CMA Avijit Goswami,
CMA Chittaranjan Chattopadhyay, CMA Harshad Shamkant Deshpande,
CMA (Dr.) K Ch A V S N Murthy, CMA Manoj Kumar Anand, CMA Navneet Kumar Jain,
CMA Neeraj Dhananjay Joshi, CMA Rajendra Singh Bhati, CMA Suresh Rachappa
Gunjalli, CMA (Dr.) V. Murali, CMA Vinayaranjan P, Ms. Anita Shah Akella,
Shri Jyoti Prakash Gadia, Shri Inder Deep Singh Dhariwal, CS (Dr.) Shyam Agarwal,
Shri Sushil Kumar, IAS (Retired)
Secretary (Officiating)
CMA (Dr.) Debaprosanna Nandy
secy@icmai.in
Director (Examination)
Dr. Sushil Kumar Pareek
exam.director@icmai.in
Director (Infrastructure)
CMA Rajat Kumar Basu
Infrastructure.director@icmai.in
Director (PD & CPD)
CMA Nisha Dewan
pd.hod@icmai.in
Director (Technical)
CMA Tarun Kumar
technical.director@icmai.in
Director (Tax Research)
CMA Kushal Sengupta
trd.director@icmai.in
Director (Membership)
CMA Arunava Ganguly
membership.director@icmai.in
Director (Admin-Delhi)
CMA Simarjeet Chadha
admin.director@icmai.in
Additional Director (Journal & Publications)
CMA Sucharita Chakraborty
journal.hod@icmai.in
Additional Director (BFSI)
CMA Dibbendu Roy
bfsi.hod@icmai.in
Additional Director (Information Technology)
Mr. Ashish Tewari
it.hod@icmai.in
Additional Director (Career Counselling and Placement)
Dr. Pradipta Ganguly
placement.hod@icmai.in
Additional Director (Internal Control)
CMA Indu Sharma
intcontrol.hod@icmai.in
Additional Director (Finance)
CMA Soma Banerjee
finance.hod@icmai.in
Additional Director (Public Relations)
CMA T R Abrol
pr.hod@icmai.in
Joint Director (Legal)
Ms Vibhu Agarwal
legal.hod@icmai.in
Director (Discipline)
CMA R. K. Jain
discipline.director@icmai.in
Joint Director (CAT)
CMA Pardeep Kumar Khaneja
cat.hod@icmai.in
Joint Director (International Affairs)
Dr. Kimi Thareja
intlaffairs.hod@icmai.in
Joint Director (Board of Advanced Studies & Research)
CMA Tinku Ghosh Das
advstudies.hod@icmai.in
DISCLAIMER -
The Institute of Cost Accountants of India does not take responsibility for returning
unsolicited publication material. Unsolicited articles and transparencies are sent
in at the owner’s risk and the publisher accepts no liability for loss or damage.
The views expressed by the authors are personal and do not necessarily represent
the views of the Institute and therefore should not be attributed to it.
The Institute of Cost Accountants of India is not in any way responsible for the
result of any action taken on the basis of the articles and/or advertisements
published in the Journal. The material in this publication may not be reproduced,
whether in part or in whole, without the consent of Editor, The Institute of Cost
Accountants of India. All disputes are subject to the exclusive jurisdiction of
competent courts and forums in Kolkata only.
From the Editor’s Desk
President’s Communiqué
ICMAI CMA Snapshots
Down the Memory Lane
News from the Institute
Statutory Updates
06
07
14
106
108
117
Valuation Corner
Pain Point Valuation Model ....... 82
Business Cases
Business Model and its Consequence for Cost
Management ....... 84
Digital Transformation
Behavioural Finance and FinTech -
Digital Designers’ Olive Branches to Investors
and Other Users ....... 85
Ethical Leadership
Ethical Leadership - The Cornerstone of
Running a Business Successfully ....... 90
Viksit Bharat
Viksit Bharat 2047: India's Strategic Approach
in Balancing Trade Competitiveness and
Farmer Welfare at the WTO ....... 92
CMAs as Corporate Partners in Forensic
Accounting: Challenges and Opportunities
....... 98
Forensic Accounting
Demystifying sub-module of Profitability
Analysis in Controlling module of ERP SAP S4
HANA ....... 100
SAP
6 The Management Accountant - November 2024
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EDITOR’S DESK
From the
Energy Consumption Management: A Holistic Approach to Greener Future
nergy consumption
management is not
just about reducing
energy use; it is
about creating a sustainable
energy ecosystem that balances
economic growth with
environmental protection. By
embracing efÏciency, renewable
energy, and smart technologies,
and by fostering a culture of
sustainability, we can move
towards a greener and more
sustainable future for all.
This issue of Management
Accountant is focusing on Energy
Consumption Management: A
holistic approach to greener
future. Various authors have
contributed thought provoking
articles based on the theme of
this issue.
Solar Energy Technology
and Its Role in Sustainable
Development in India concludes
that the continued advancement
of solar energy technology in
India will be pivotal in fostering
a future centered around
sustainability and environmental
responsibility. By embracing this
shift, businesses can contribute
to building a greener planet for
future generations.
Role of CMAs in Renewable
Energy Management highlights
that renewable energy
management presents a valuable
opportunity for cost and
management accountants to apply
their expertise in areas such as
rescheduling and reengineering
production processes, providing
input to regulators on pricing
mechanisms, and auditing
information security systems.
India’s Energy Management
Solutions:
Conquering
Challenges, Guiding the
Globe explains that integrating
renewable energy is hindered by
infrastructure gaps, high costs,
and intermittency. However,
through a strategic approach to
energy management, India is
not only paving the way for its
own low-carbon future but also
leading the world towards a more
resilient and sustainable planet.
Energy Security and Non-
conventional Energy Sources: An
Intertwined Twofold Impetus to
Propel Inclusive and Sustainable
Development: Briefly discusses
energy security with an emphasis
on non-conventional sources in
India and also highlights related
global perspectives.
Energy Management and
Decarbonisation: The Need, The
Way Forward, and The Role of
CMAs explores how the global
shift towards energy transition
and management is prompting
businesses to closely examine
their energy consumption and cost
data. Companies are increasingly
focused on optimizing resource
use and minimizing waste. The
triple bottom line approach is
becoming both a necessity and a
reality. In this evolving landscape,
CMAs, with their diverse skills
and roles, can serve as guiding
lights to lead the way forward.
The Sun Never Sets for a
Green Future - India embraces
the philosophy of “Vasudhaiva
Kutumbakam” - “One Earth,
One Family, One Future” -
highlighting the importance of
sustainable energy. Solar and
wind energy together account for
nearly 89% of the nation’s total
renewable capacity. While India
is a global leader in renewable
energy, significant efforts are
still needed to meet SDG targets,
presenting fresh opportunities for
CMAs to play a pivotal role with
their expertise.
O p t i m i z i n g
E n e r g y
Consumption in the Circular
Economy: The Strategic Role of
CMAs emphasizes that by effectively managing
energy consumption, businesses can reduce
costs, enhance profitability, and play a vital
role in fostering a more sustainable and
environmentally responsible economy.
Energy Management Software: A Veritable
Game Changer for the Modern-Day Business
Enterprise highlights the critical role of
Energy Management Systems in collecting and
analyzing energy usage data for businesses. By
comparing individual energy consumption with
industry standards and baselines, these systems
help organizations achieve both environmental
sustainability and energy efÏciency.
Key Aspects in Energy Conservation
underscores how the perspective on energy
conservation has shifted from being merely a
cost-saving strategy to a broader responsibility,
shaped by evolving regulatory frameworks.
Biofuel: Redefining the Path to Energy
Sustainability in India highlights that biofuels
have the potential to economically and feasibly
replace a significant portion of the country’s
current reliance on traditional fuels, across
all regions.
Energy Management and ESG explores
the vital pivot of energy management with
Environmental, Social and Governance
[ESG] frameworks. It underscores efforts by
companies to become more sustainable in
response to ecological concerns.
Role of CMAs in Energy Audit emphasizes
that by integrating energy audits with
sustainability initiatives, CMAs ensure that
businesses meet their long-term environmental
goals. As companies strive to reduce costs,
comply with regulations, and achieve
sustainability targets, cost and management
accountants play an increasingly vital role in
the energy audit process.
In addition to the topics mentioned, this
issue features articles on a range of other
contemporary subjects. We are also honoured
to include an exclusive interview of CMA (Dr.)
Bijay Kumar Mohanty, Director (Finance) at
IREDA.
We extend our sincere thanks to everyone
who contributed articles for this issue. Please
share your thoughts with us at editor@icmai.in.
Happy Reading!
www.icmai.in
November 2024 - The Management Accountant
7
“The true measure of success is not just what
you achieve, but also how you positively impact
others.”
-- Ratan Tata
My Dear Professional Colleague,
s we move forward, I hope the
festivities of October brought joy,
peace, and renewed energy to each
of you. These moments of celebration
provide us with renewed strength and unity,
inspiring us to bring the same enthusiasm to our
professional lives. Let us channel this festive energy
into our work, striving for excellence and impactful
contributions to the Institute and CMA profession.
May the celebrations continue to remind us of the
importance of unity, compassion, and dedication
in all we do.
Meeting with Governor RBI
I am happy to inform you that I along with my
Council Colleagues CMA Manoj Kumar Anand,
CMA Chittaranjan Chattopadhyay and CMA
(Dr.) Ashish P. Thatte had a meeting with Shri
Shaktikanta Das, Governor, RBI on 30th October,
2024 at RBI ofÏce, Mumbai wherein extensive
discussions were held on the role of CMAs in the
Banking Sector.
Call for Nominations for 19th National Awards
for Excellence in Cost Management 2024 and
8th CMA Awards 2024
I am pleased to share that the Institute is receiving
the nominations from the organisations for the
19th National Awards for Excellence in Cost
CMA Bibhuti Bhusan Nayak
President
The Institute of Cost Accountants of India
Management 2024 and from CMAs in employment
for 8th CMA Awards 2024. Considering the
requests from the organizations and members, the
Institute has extended the last date of submission
of nomination upto 15th November, 2024.
I urge the companies/ organisations and CMAs
in employment for their active participation. For
submitting nominations for Awards, please visit
the website of the Institute:
For National Awards 2024: https://icmai.in/
Awards/National_Awards/index.php
For CMA Awards 2024: https://icmai.in/Awards/
CMA_Awards/index.php
Meeting with Dignitaries
I along with CMA Manoj Kumar Anand, Council
Member, ICMAI and CMA Avijit Goswami,
Council Member, ICMAI had a meeting with
CMA Samir Kumar Swain, Director (Finance),
U.P. Transmission Corporation Ltd., CMA (Dr.)
Bijay Kumar Mohanty, Director (Finance & CFO),
IREDA Limited, CMA Gagan Bihari Swain,
Director (Finance), Odisha Power Generation
Corporation Ltd. (OPGC) and CMA (Dr.) Prasanna
Kumar Acharya, Director (Finance), NLC India
Limited (NLCIL) during their visit to CMA
Bhawan, New Delhi on 7th October, 2024.
Peer Review Board
You are aware that the Council of the Institute
has implemented the Peer Review System in the
Institute w.e.f. 1st April 2023 and the same is
voluntary for the first three years of implementation.
I urge the practicing members to come forward
President’s
Communiqué
8 The Management Accountant - November 2024
www.icmai.in
at Delhi. The MoU was signed by the Secretary
of ICMAI and the Chairman of the MSMECCII
Shri Indrajit Ghosh.
The MSME Chamber of Commerce and Industry
of India is an NGO established in 2019 for working
on the field to help the industry and social issue. The
MSMECCII works closely with the government,
industry associations, and other stakeholders to
create an enabling environment for MSMEs to
thrive. It provides a range of services to MSMEs,
including capacity building, market development,
technology upgradation, and policy advocacy.
MSMECCII Chamber has all relevant members
globally in various fields to guide the sector to
grow fast.
I strongly believe that the MoU will help to
constitute a think tank by drawing professionals and
experts from multi-disciplinary areas across sectors
and periodically deliberate and chart pathways to
work more closely for the betterment of the CMA
fraternity towards MSME Sectors.
Members Meet at Hyderabad Chapter
I along with CMA TCA Srinivasa Prasad,
Vice President, ICMAI and CMA (Dr.) K Ch A
V S N Murthy, Council Member, ICMAI had an
opportunity to meet and interact with the members
during the Members Meet organised by the
Hyderabad Chapter of ICMAI at Hyderabad on 26th
October, 2024. This event provided an interactive
platform for members for discussing the recent
initiatives of the Institute and important matters
related to CMA profession.
I wish prosperity and happiness to our members,
students, and their families on the occasion of Chhat
Puja & Guru Nanak Jayanti and wish them success
in all of their endeavours.
With warm regards,
CMA Bibhuti Bhusan Nayak
November 4, 2024
and get their firm/s (Proprietorship, Partnership
or LLP) peer reviewed by an empaneled reviewer.
For this please fill up the PU Questionnaire and
send a signed copy of the same to the peer review
Board on its email peerreviewboard@icmai.in.
For assistance please go through the Instructions
for filling up the Questionnaire.
I urge the eligible practicing members to empanel
themselves as Peer Reviewer in order to undertake
the Peer Review assignments on payment basis,
by filling up Empanelment Form and sending
a signed copy to the Peer Review Board at
peerreviewboard@icmai.in along with the signed
declaration.
For more information regarding the Peer Review
Mechanism of the Institute, please visit the Peer
Review Webpage on the Institute’s website.
MOU with ACCA-UK
As you are aware that ICMAI and the Association
of Chartered Certified Accountants (ACCA),
UK signed a Memorandum of Understanding
on 9th August, 2021 to work together towards
co-operation in respect of professional training,
education and examinations. The Members of both
the Institutes are allowed mutual advanced entry
through exemptions from appearing in the majority
of papers to acquire the qualification of the other
professional body.
On 7th October, 2024, an Addendum to the
above said MoU was signed between ICMAI and
ACCA-UK to allow exemptions to ACCA members
to pursue CMA qualification under Syllabus 2022.
The weblink of the Circular dated 16th October,
2024 regarding Reciprocal Exemption between
ICMAI and ACCA-UK (as per MOU) is as follows:
https://icmai.in/upload/Students/Circulars/CMA-
ACCAExemption-Circular.pdf
MoU with the MSME Chamber of Commerce
and Industry of India (MSMECCII)
I am pleased to share with you that the MSME &
Start-up Promotion Board, under the Chairmanship
of CMA Suresh R. Gunjalli has entered one MoU
with the MSME Chamber of Commerce and
Industry of India (MSMECCII) on 23rd October
PRESIDENT’S COMMUNIQUÉ
www.icmai.in
November 2024 - The Management Accountant
9
building and knowledge enhancement.
The admission window for the courses is stated
as follows:
h t t p s : / / e i c m a i . i n / O C M A C / B F S I /
DelegatesApplicationForm-BFSI.aspx
B. Webinars
The following webinars were organized by the
BFSI on various topics:
1. The webinar on “IPOs the process of fund
raising for India Inc” was organized on 4th
October 2024. CMA Nayan Mehta, Former
CFO, BSE and BFSI Board Member, ICMAI
was the Speaker.
2. The webinar on “Internal Audit of Life
Insurance Companies” was organized on 7th
October 2024. CMA P N Murthy, Insurance
Consultant and BFSI Board Member, ICMAI
was the Speaker.
3. The Webinar on “What CMAs ought to know
about the complexities of Life Insurance
Business” was organized on 18th October
2024. CMA B. K. Unhelkar, Former Executive
Director, Life Insurance Corporation of India
was the Speaker.
4. The Webinar on “Understanding the basics
of Commodity market and Energy Price Risk
Management” was organized on 24th October
2024. Shri Ashish Bhagtani, Assistant Vice
President – PMT Energy, Multi Commodity
Exchange of India Ltd. was the Speaker.
C. Publications
i) Release of the 18th issue of the BFSI Chronicle
(FinTech Special)
The BFSI Board, ICMAI has released the 18th
issue of the BFSI Chronicle (FinTech Special) in the
month of October, 2024.
ii) Sale of Aide Memoire on Infrastructure Financing
(Revised and Enlarged 2nd Edition)
The online purchase link of the publication titled
Aide Memoire on Infrastructure Financing (Revised
and Enlarged 2nd Edition) is as follows:
https://eicmai.in/booksale_bfsi/Home.aspx
BRIEF SUMMARY OF THE ACTIVITIES OF VARIOUS
DEPARTMENTS/ COMMITTEES/ BOARDS OF THE INSTITUTE
DURING THE MONTH OF OCTOBER 2024
AGRICULTURE COST MANAGEMENT
BOARD (ACMB)
The Agriculture Cost Management Board (ACMB)
under the Chairmanship of CMA Chittaranjan
Chattopadhyay has successfully organized Webinar
on “Social Costs and Benefits in Agriculture in
connection with Climate Change and Related
Issues” on 27th September, 2024. The Chief Guest
and Speaker of the webinar was Dr. T. N. Prakash
Kammardi, Ret. Professor of Agricultural Economics
and Formerly Chairman Karnataka Agricultural Prices
Commission, Govt. of Karnataka. This webinar was
for the dissemination of knowledge among members
and to increase the numerous professional avenues
available to the members in the field of agriculture.
BANKING, FINANCIAL SERVICES AND
INSURANCE BOARD
The Banking, Financial Services & Insurance Board
of the Institute and the BFSI department continued
its various activities and initiatives in October 2024,
a synopsis of which is presented herein under:
A. Certificate Courses of BFSI
i) Advance Certificate Course on Fintech
The admission for the 1st batch of Advance
Certificate Course on Fintech is going on.
ii) Investment Management in collaboration with
NSE Academy
The admission for the Level-1 (Fundamental
Analysis & Valuations) Batch No. 2 of the Investment
Management in collaboration with NSE Academy
has started on 19th October, 2024 and the admission
for the Level-3 Batch No. 1 (Financial Derivatives
& it’s application) is presently going on.
iii) Certificate Courses on Banking
The admission for the 11th batch of Concurrent
Audit of Banks has started and the last date of
admission is 8th November, 2024 and the classes
will commence from 9th November, 2024.
The admission for the 11th batch of Credit
Management of Banks and 9th batch of the Treasury
and International Banking are currently going on.
The syllabi and the study materials has been amended
as per the latest developments and amendments and
all are requested to be take admission for capacity
10 The Management Accountant - November 2024
www.icmai.in
PROFESSIONAL DEVELOPMENT &
CONTINUOUS PROFESSIONAL EDUCATION
(PD & CPE) COMMITTEE
The Regional Institute of Pharmaceutical Science
and Technology has considered Cost Accountants
Firms for filling and Assessment of Income Tax.
Further, the Maharashtra Mantralaya & Allied OfÏces
Co-Operative Bank Ltd. invited applications from
the Cost Accountants for recruitment of Assistant
Manager (Audit).
Please visit the PD Portal regularly , check for
Tenders/EOIs during the month of October 2024
where services of the Cost Accountants are required
in the Madhya Pradesh Poorv Kshetra Vidyut Vitaran
Company Ltd., Indian Institute of Engineering Science
and Technology, Shibpur, Jamshedpur Notified
Area Committee, Spices Board, Artificial Limbs
Manufacturing Corporation of India (ALIMCO),
Armoured Vehicles Nigam Limited, Assam Power
Distribution Company Limited, National Health
Mission, Haryana, Jammu and Kashmir State Power
Development Corporation Limited, Industrial Finance
Corporation of India, Assam Power Distribution
Company Limited, etc.
In the monthly Series of discussion with the
practitioners, Professional Development & CPE
Committee conducted 10th Webinar on 3rd October
2024, discussion with practitioners on “Certification
and Verification assignments in Banks”, wherein
CMA Praveen Kumar Dangi made a comprehensive
presentation sharing valuable insights and strategies.
The session was very much appreciated by the
participants and Chairman, Professional Development
& CPE Committee also encouraged the active
interaction.
The Professional Development & CPE Committee
conducted a Seminar on “Construction Industry” under
Industrial Seminar Series on 16th October 2024 at
New Delhi. The seminar featured esteemed speakers,
including CMA Hrishikesh Kumar, Executive Director
(Finance) NBCC (India) Limited, CMA (Smt.) B.K.
Sokhey, Former Director (Finance) NBCC (India)
Limited, as Guest of Honor, and CMA Sanjay Jindal,
Director (Finance) Engineers India Limited, as Chief
Guest. The seminar proved to be a highly engaging
and informative program, the participants actively
interacted with the speakers, leading to a stimulating
question-and-answer session. This platform provided
participants with an opportunity to understand the
Industry perspective and the role of CMAs.
D. Inclusion of CMAs/CMA Firms in various
opportunities
The CMAs are included in various opportunities and
professional opportunities in the BFSI sector namely:
i.
CMAs are included in various vacancies of
National Housing Bank
ii. CMA Firms are eligible for stock audit of Indian
Overseas Bank
iii. CMA Firms are eligible for concurrent audit
of NEDFi
iv. CMA Firms are eligible in providing services to
assist in Liability Servicing and related works
in IFCI Ltd.
CAT DIRECTORATE
~ CAT Course for retiring/retired Defence
Personnel
The CAT Directorate has continued the Institute’s
collaboration with the Directorate General Resettlement
(DGR), Ministry of Defence, Government of India.
As part of this ongoing partnership, another batch of
the CAT course for retiring and retired JCOs/OR and
their equivalents commenced on 21st October 2024
at the SIRC premises in Chennai. This initiative is
in line with the approved training calendar for the
2024-25 year by the DGR.
~ Online Classes for CAT Students
The e-learning classes for CAT Course Part I
ofÏcially commenced on 7th October, 2024. These
sessions, led by expert resource persons, have been
thoughtfully redesigned to foster greater interaction.
With this enhanced format, students and faculty can
now engage directly, leading to a more impactful and
dynamic learning experience.
The students are encouraged for their regular
participation, as these sessions will prove
instrumental in your preparation for the upcoming
CAT examination.
MEMBERSHIP DEPARTMENT
During the month of October, 2024, 160 new
Associate memberships were granted and 43 Associate
members were upgraded to Fellowship. Under the
leadership of CMA Avijit Goswami, Chairman
of the Members’ Facilities Committee, these new
memberships were granted even during festivities
in the month of October 2024.
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