The Management Accountant - February 2024
The pioneering Journal of the Institute, “The Management Accountant” has been published since January 1966. It is being published regularly keeping in mind the needs of the Cost and Management Accountants (CMA) and provides wide knowledge on the recent developments and changes in the global, national, financial and economic scenario. The rich contents in the Journal keep informed the readers of sound professional ethics and keep them abreast of new developments.
From the Editor’s Desk
President's Communique
ICMAI-CMA Snapshots
Down the Memory Lane
News from the Institute
Statutory Updates
Advisory for Renewal of
Certificate of Practice for 2024-25
06
08
14
94
96
116
120
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GOA PANCHAYATS: REVENUE REALITIES
PROSPECTIVE APPLICATION OF ARTIFICIAL
INTELLIGENCE IN HIGHER EDUCATION AND
ITS POTENTIAL BENEFITS
PANCHAYAT ACCOUNTING
⑦⑧
FORENSIC AUDITING FOR FRAUD
INVESTIGATION AND PREVENTION -
A CRITICAL REVIEW
FORENSIC AUDIT
⑦③
DOES ACQUISITION OF UBER EATS’ INDIA
OPERATIONS BY ZOMATO LEAD TO FINANCIAL
SYNERGY? AN INTROSPECTION
MERGER AND ACQUISITION
⑧②
⑧⑥
INFLUENCE OF SOLVENCY AND LIQUIDITY ON
THE FINANCIAL PERFORMANCE OF SELECT
PHARMACEUTICAL COMPANIES IN INDIA
PHARMACEUTICAL INDUSTRY
⑨⓪
ARTIFICIAL INTELLIGENCE
PRESIDENT
CMA Ashwin G. Dalwadi
president@icmai.in
VICE PRESIDENT
CMA Bibhuti Bhushan Nayak
vicepresident@icmai.in
COUNCIL MEMBERS
CMA (Dr.) Ashish Prakash Thatte, 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 T C A Srinivasa Prasad, 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
CMA Kaushik Banerjee
secy@icmai.in
Senior Director (Studies)
CMA (Dr.) Debaprosanna Nandy
studies.director@icmai.in
Senior Director (Membership)
CMA Arup Sankar Bagchi
membership.director@icmai.in
Director (Examination)
Dr. Sushil Kumar Pareek
exam.director@icmai.in
Director (Finance)
CMA Arnab Chakraborty
finance.director@icmai.in
Additional Director (PR Corporate, Public Relation & Admin-Delhi)
Dr. Giri Ketharaj
admin.hod@icmai.in, pr.hod@icmai.in
Additional Director (Tax Research)
CMA Rajat Kumar Basu
trd.hod@icmai.in
Additional Director (Career Counselling and Placement)
CMA (Dr.) Sumita Chakraborty
career-counselling@icmai.in
Additional Director (PD & CPD)
CMA Nisha Dewan
pd.hod@icmai.in
Additional Director (Technical)
CMA Tarun Kumar
technical.addldir1@icmai.in
Additional Director (Infrastructure)
CMA Kushal Sengupta
Infrastructure.hod@icmai.in
Director (Discipline) & Additional Director
CMA Rajendra Bose
discipline.director@icmai.in
Additional Director (Journal & Publications and Board of Advanced Studies &
Research)
CMA Sucharita Chakraborty
journal.hod@icmai.in
Additional Director (BFSI)
CMA Dibbendu Roy
bfsi.hod@icmai.in
Joint Director (Information Technology)
Mr. Ashish Tewari
it.hod@icmai.in
Joint Director (Admin-Kolkata & Human Resource)
Ms Jayati Sinha
admin.hod.Kolkata@icmai.in, hr.hod@icmai.in
Joint Director (Internal Control)
CMA Indu Sharma
intcontrol.hod@icmai.in
Joint Director (Legal)
Ms Vibhu Agarwal
legal.hod@icmai.in
Joint Director (CAT)
CMA R. K. Jain
cat.hod@icmai.in
Joint Director (International Affairs)
CMA Yogender Pal Singh
intlaffairs.hod@icmai.in
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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.
CREDIT ENVIRONMENT
IS ARTIFICIAL INTELLIGENCE (AI) IN
BANKING A BOOM OR A PASSING FAD?
BANKING
⑥⑥
⑦⓪
⑥①
INTERIM BUDGET:
A CONTINUITY OF POLICY DECISION BY
THE GOVERNMENT
BUDGET 2024
STRATEGIC BUDGETARY MOMENTUM:
THEN AND NOW
⑥②
www.icmai.in
February 2024 - The Management Accountant
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