Baroda Branch of WIRC of The Institute of Chartered ... · THE INSTITUTE OF CHARTERED ACCOUNTANTS...

Baroda Branch of WIRC ofThe Institute of Chartered Accountants of India

46th Annual Report 2012-13

BARODA BRANCH OFTHE WESTERN INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

NOTICE

Notice is hereby given that 46th 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

Monday, June 10th, 2013 at 6 pm at ICAI Bhawan, Kalali- Tandalja Road, Atladara, Vadodara-390012 to

transact the following business:

1. To receive and adopt the report of Managing committee for the Financial year 2012-2013.

2. To receive and adopt the Auditor’s Report and Audited Accounts for the year ended on 31st March,

2013.

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

For

Date: 10th May, 2013Secretary

Baroda Branch of WIRC of ICAI

CA. Yash BhattPlace: Vadodara

REPORT OF THE MANAGING COMMITTEE OF THE BARODA BRANCH OF WIRC OF ICAI FOR YEAR 2012-2013

The Baroda Branch of the Western India Regional Council of the Institute of Chartered Accountants of India is pleasedto present its 46th Annual report of Managing Committee for the period from 1st June 2012 to 31st May 2013 and theaccounts for the financial year ended on 31st March, 2013.

Considering the current activities of members and students at Baroda Branch and keeping in mind future activity base, theBranch has extended its current infrastructure to support and facilitate ongoing & future activities both of members andstudents. As a habit, the Baroda Branch has once again been adjudged as one of the Best Performing Branch by the ICAIand also at Regional level. Number of activities are undertaken round the year for the benefit of its members and studentsat large. Involvement from members as well as students was encouraging throughout the year.

Due to expansion of current infrastructure, substantial amount of reserve fund have been utilised for its financing.Considering the rising inflation, cost of administration and cost of maintenance & few directives of the council, theManaging Committee of Baroda Branch has unanimously agreed to adopt more conservative approach and has come outwith cost reduction plan. Further the Committee have also decided to increase the qualitative contribution from eachprogramme to mitigate current cost and to rebuild the Reserve for its future.

At the same time, we also wish to place on record our sincere appreciation and gratitude to the following persons whohave made it possible to conduct various activities of the Branch:

Chairmen, Faculties and Members at various Post Qualification Courses/ Certificate Courses, 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 othercourses for sparing their valuable time for the cause of the profession.

Co-opted members of various committees and working group of Branch.

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

Statutory Auditors of the Branch M/S Vakil Jain & Hindocha, Chartered Accountants.

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

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

Various professionals and other organizations for their co-operation and assistance in organizing programmes.

Mr. Ketan Kharva, Ms. Parita Shah, Ms. Neema Dhanwani, Mr. Jayesh Panchal, Mr. K.C. Rajput, Mr. PrakashParmar, Mr. Dharmesh Shah, Mr. Jitendra Jat, Mr. Yuvraj Gohil, Mr. Jagdishbhai Prajapati & Mr. Amar Baswa- staffof the Branch for their continued dedicated efforts and hard work throughout the year.

Multiprints for their timely printing of Newsletter and other materials through out the year.

Advertisers for their contribution in the Newsletter and other publications.

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

The press & media for their support

Chairman Vice- chairman

Member Member

Baroda, 10th May 2013

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CA. Ashish Parikh CA. Nayan Kothari

CA. Abhishek Nagori

CA. Arpan Dodia CA. Dhiren Parikh

CA. Yash Bhatt CA. Viral Shah

CA. Pradeep Agrawal

CA. Kejal Pandya

Secretary Treasurer

Ex-officio Co-opted (Imm. Past Chairman)

Member

MANAGING COMMITTEE OF BARODA BRANCH OF WIRC OF ICAI - 2013-14

CA. Ashish ParikhChairman

CA. Nayan KothariVice-chairman

CA. Yash BhattSecretary

CA. Viral ShahTreasurer

CA.

Ex-Officio

WIRC Member

Abhishek Nagori CA. Pradeep AgrawalCo-opted

(Imm. Past Chairman)

CA. Dhiren ParikhMember

CA. Kejal PandyaMember

MANAGING COMMITTEE OF BARODA BRANCH OF WICASA - 2013-14

CA. Nayan KothariChairman

Ms. Disha ChughSecretary

Mr. Keyoor ThakarTreasurer

CA. Yash BhattEx-Officio

Mr. Saurabh ShahMember

Ms. Shambhavi ShahMember

Ms. Shraddha PatelMember

Mr. Harsh ChoksiVice-chairman

BARODA CPE STUDY CIRCLE

CA. Arpan Dodia Convener

CA. Abhijit Kotecha Co-convener

CA. Prabhat Doshi Co-convener

STUDENT STUDY CIRCLE

Mr. Jaykishan Zala Convener

Ms. Janki Joshi Convener

CA. Arpan DodiaMember

MANAGING COMMITTEE MEETINGS

WICASA MANAGING COMMITTEE MEETINGS

Sr. Date Attendance

Sr. Date Attendance

1 03.07.2012 9

2 02.10.2012 9

3 09.11.2012 8

4 10.12.2012 9

5 29.12.2012 12

6 17.01.2013 10

7 04.02.2013 9

8 25.02.2013 9

9 12.03.2013 8

10 29.03.2013 8

11 20.04.2013 8

1 01.06.2012 7

2 02.06.2012 7

3 30.07.2012 6

4 15.08.2012 7

5 05.09.2012 7

6 10.10.2012 7

7 04.11.2012 7

8 03.12.2012 7

9 01.01.2013 7

10 01.02.2013 7

11 23.02.2013 7

12 02.03.2013 7

13 01.04.2013 7

FINANCIAL ASSISTANCE SCHEME FOR CA STUDENTSFROM JUNE 2012 TO MAY 2013

SR. Donor's Name Amt*(Rs.)

TOTAL AMOUNT RS. 163000

1 CA. MAYUR SWADIA 30000

2 MR.VIRAG DIVANJI 20000

10000

3 CA. ABHISHEK NAGORI 20000

4 J. R. S. PATEL & CO 13000

5 CA. MANNAN A. R 10000

6 CA. DHRUV AGRAWAL 10000

7 CA. BHARAT PARIKH 10000

8 CA. JAYESH MEHTA 10000

9 CA. VINOD KANSARA 10000

10 CA. BIPIN C. SHAH 10000

11 MR. PARIMAL DIVANJI 10000

12 CA. JANAK SHAH(VCA & ASSOCIATES)

* Not routed through Income & Expenditure Account

RESIDENTIAL REFRESHER COURSE / SEMINARS

FULL DAY SEMINARS / CONFERENCES

HALF DAY SEMINARS / CONFERENCES

WORKSHOPS

LECTURE MEETINGS

Date Particular CPE No. of CPE HrsHrs Participants Generated

8-9.06.2012 2nd ICAI All Regional Conference-2012 12 1000+ 9438

2-3.11.2012 All Gujarat Tax & Audit Conclave( Jointly with Anand Branch) 12 200 2400

6-8.01.2013 22nd Residential Refresher Course @ Matheran 12 115 1383

03.08.2012 Workshop on MS -EXCEL 6 26 150

22.08.2012 Full Day Training for Peer Reviewers 6 70 420

24.08.2012 Full Day Training for Financial Reviewers 6 58 348

06.10.2012 Full Day Seminar for Small & Medium Practioners 6 35 195

19.10.2012 1st Annual All Gujarat CFO meet 6 38 228

18.12.2012 Full Day Workshop on Information Technology 6 140 840

22.12.2012 Full Day Workshop on Direct Taxes 6 133 798

19.01.2013 Full Day Seminar on “Domestic Transfer Pricing 6 127 762

16.02.2013 Full Day Seminar on FEMA with RBI 5 91 455

23.02.2013 Full day Seminar on Taxation Jointly with Bharuch Branch 6 15 90

16.03.2013 Full Day Seminar on " The Company's Bill 2012" 6 69 414

23.03.2013 Full Day Seminar on Bank Branch Audit 6 38 228

27.04.2013 Full Day Seminar on Real Estate Conclave - Legal,Accounting & Taxation aspects

20.07.2012 Practical Workshop on Banking Finnacle Software 3 17 51

04.08.2012 Workshop on "Tally" - Revised Schedule - VI 4 79 284

18.08.2012 Workshop on FEMA 3 49 140

21.08.2012 1st Annual meet of south Gujarat Members in Industry 3 71 213

15.12.2012 Half Day National workshop on Ethics & Compliance 4 57 228

23.06.2012 Direct Tax Refresher Course-I 4 70 280

30.06.2012 Direct Tax Refresher Course-II 4 55 220

14.07.2012 Direct Tax Refresher Course-III 4 57 228

07.08.2012 Service Tax Refresher Course-I 4 72 288

08.08.2012 Service Tax Refresher Course-II 4 78 312

09.08.2012 Service Tax Refresher Course-III 4 76 304

16.06.2012 Workshop on IT (SAP) 2 34 68

01.09.2012 Lecture meeting on Cost Records & Cost Audit 2 7 14

15.02.2013 Recent Judgement of High Court & Tribunal on Income Tax 2 27 54

02.03.2013 Lecture Meeting on Analysis of Budget-2013 3 315 945

09.03.2013 Lecture Meeting on " Practical Issues under G-VAT" 2 26 52

20.04.2013 Lecture Meeting on "Cyber Crime & Cyber Security" 2 22 44

29.04.2013 Lecture Meeting on Audit of Financial Statements 2012-13Revised Reporting Requirements and other Development

6 237 1422

2 54 108

CPE TELECONFERENCES

PUBLIC PROGRAMS

08.06.2012 Definition of Service Covering Negative List 2 1 2

22.06.2012 Exemptions, Abatements, Reverse & Joint Charge & Placeof Supply Rules 2 1 2

04.07.2012 Implications of Amendments to Sections 40A(2),10 AA &80/A in Finance Act , 2012

30.07.2012 Professional Opportunities for members & Important TaxAudit Issues

06.08.2012 XBRL & Fair Value based Accounting -

Emerging Trend in Financial Reporting 2 1 2

29.08.2012 Transfer Pricing – Recent Amendments 2 3 6

07.09.2012 XBRL 2 0 0

17.09.2012 Tax Audit - Issues (Approach & Reporting) & Certain Issues

under Income Tax Act

26.09.2012 Taxation on Capital Market – Equity, Mutual Fund & Derivatives 2 0 0

05.10.2012 Standards of Auditing 700, 705 and 706 2 0 0

17.10.2012 FDI Policy - Boost for economy, importance, Role of CA 2 0 0

31.10.2012 Service Tax – Negative List 2 5 10

16.11.2012 XBRL 2 1 2

23.11.2012 Point of Taxation - Reverse Charge 2 15 30

05.12.2012 Foreign Contribution Regulation Act, 2010 2 26 52

21.12.2012 Role and key aspects of IT in Internal Audit 2 11 22

05.01.2013 Foreign Contribution Regulation Act, 2010 26 2 52

09.01.2013 Project Finance and Investment Banking 6 2 12

18.01.2013 A Study on Negative List & Reverse Charge

Mechanism in Service Tax

30.01.2013 Domestic Transfer Pricing – Law and Practice 14 2 28

08.02.2013 Drafting of documents including agreement for sale, propertydevelopment agreement, MOUs, Power of Attorney and Will etc.

15.02.2013 Audit Sampling 5 2 10

27.02.2013 Limited Liability Partnership - Legal and Procedural Aspects 5 2 10

05.03.2013 Finance Bill'2013 5 2 10

22.03.2013 Bank Branch Audit 6 2 12

05.04.2013 FEMA & Revised Schedule-VI 9 2 18

17.04.2013 Redefining the Role of CAs tobecome a Global Solution Provider 1 2 2

07.10.2012 Workshop – Financial Prescription for Doctors 57

31.10.2012 Public Awarness Event -Vigilance Awareness Week of Income Tax Office 30+

06.11.2012 SVEEP PLAN( Systematic Voters' Education for Electoral Participation) 54

26.12.2012 Awareness Program for Government Accounting 4 67 268

02.02.2013 Relevance of Bhagvad Gita in Management 200

23.02.2013 Workshop for Accountants Part - I 36

28.02.2013 Live Screening of Union Budget -2013 104

09.03.2013 Workshop for Accountants- II 8


2 1 2

2 2 4

2 0 0

15 2 30

6 2 12

16.03.2013 Workshop for Accountants- III 14

21.03.2013 Public Awareness Program with Income Tax Department 150+

31.03.2013 Public Awareness Program onInvestor Awareness Programmes 2012-13 53

26.06.2012 Revised Schedule VI- Part - I 2 62 124

27.06.2012 Revised Schedule VI- Part - II 2 62 124

18.07.2012 Foreign Remittances & Form 15 CB 2 43 86

01.08.2012 Service Tax Practice as per New Provisions Part- II 2 22 44

24.08.2012 Practice Management- Key Drivers 2 21 42

30.10.2012 Enterprise Valuation 2 23 46

31.10.2012 Valuations of Shares of Company 2 21 42

27.11.2012 Recent Judgments under Income Tax Act 2 25 50

11.12.2012 Taxability of Works Contract under GVAT Act 2 44 88

12.12.2012 How to handle VAT Audit 2 52 104

19.12.2012 How to handle Income Tax Scrutiny 2 75 150

26.12.2012 Companies Bill 2012 & Recent Opinion ofExpert Advisory Committee 2 68 136

12.02.2013 Working Capital Management & Credit Rating 2 31 162

24.02.2013 Chanakya on Finance & Management 2 51 102

05.03.2013 Subsidies available to SMEs 2 47 94

11.03.2013 Case studies on AS-16, Borrowing Cost 2 27 54

16.04.2013 Auditing Tools & Techniques under SAP 2 43 86

30.04.2013 Revised Schedule - VI 2 58 116

1 Standard on Auditing (SA) 610 (Revised0, " using the work of Internal Auditors" 14.08.2012

2 Exposure Draft of Annual Improvements to IFRSs 2010-2012 Cycle 30.08.2012

3 Draft IFRIC Interpretation on Levies charged by Public Authorities on Entitiesthat operate in a specific market

4 Draft IFRIC Interpretation on Put Options Written on Non-Controlling Interests 30.08.2012

5 Due process document on IASB and IFRS Interpretations Committee 30.08.2012

6 Exposure Draft of Amendments to Indian Accounting Standards( Ind AS) 107,Financial Instruments

7 Exposure Draft of Amendments to Indian Accounting Standards( Ind AS) 32,Financial Instruments

8 IAASB's Invitation to Comment - Improving the Auditor's Report 03.09.2012

9 Exposure Draft of Limited Revisions to Accounting Standards (AS) 4,Contigencies & events occuring after the balance sheet date

10 Exposure Draft of Limited Revisions to Accounting Standards (AS) 12Accounting for Government Grants

11 Exposure Draft of Limited Revisions to Accounting Standards (AS) 22Accounting for Taxes on Income

12 Exposure Draft of Elements Specific for Power Sector Companies forInclusion in C& I Taxonomy

13 Exposure Draft of Amendments to Indian Accounting Standard ( Ind AS) 101,

First- time Adoption of Indian Accounting Standards

Sr. Name of Exposure Draft Date of Dispatch


30.08.2012

30.08.2012

30.08.2012

10.10.2012

10.10.2012

10.10.2012

14.12.2012

14.12.2012

STUDY CIRCLE MEETINGS

REPRESENTATIONS TO CENTRAL COUNCIL & SUGGESTIONS

PROGRAMS WITH / FOR FAMILY MEMBERS

CELEBRATION OF CA DAY

OTHER ACTIVITIES

ADVANCE GENERAL MANAGEMENT COMMUNICATION SKILL PROGRAMME

ADVANCE GENERAL MANAGEMENT COMMUNICATION SKILL PROGRAMME - I

01.12.2012 Diwali Milan ICAI Bhawan, Baroda 50 N.A

27.03.2013 Holi Milan ICAI Bhawan, Baroda 60 N.A

01.07.2012 64th CA Foundation Day

Date Activity Venue Attendance CPE Gen.

Celebration ICAI Bhawan, Baroda 170+ N.A

01.07.2012 64th CA Foundation Day Celebration - ICAI Bhawan, Baroda 185Various Performances by CA Members& their Families

15.08.2012 65th Independance Day Celebration - ICAI Bhawan, Baroda 120Flag Hoisting

15.08.2012 65th Independance Day Celebration - ICAI Bhawan, Baroda 55Blood Donation Camp

21.08.2012 Campus Orientation Program ICAI Bhawan, Baroda 66

04.09.2012 Campus Placement ICAI Bhawan, Baroda 50

01.12.2012 45th B'day Celebration of Baroda Branch ICAI Bhawan, Baroda 50

14.12.2012 Inauguration of Baroda ICAI Bhawan Phase-II ICAI Bhawan, Baroda 220

20.01.2013 Cricket Match with WICASA, Baroda N.A 35

26.01.2013 Flag Hoisting for Members & Students N.A 50+

29.01.2013 Past Chairmen Meeting N.A 34+

08.02.2013 Campus Orientation Program ICAI Bhawan, Baroda 63

28.02.2013 Live Screening of Union Budget -2013 N.A 104

08.03.2013 Placement program for Newly QualifiedChartered Accountants(Baroda Branch is only Facilitator) N.A 100+

08.03.2013 Womens' Day Celebration N.A 76

07.04.2013 Cricket Match with Senior Citizens N.A 15

05.05.2013 Regional Volleyball Tournament Surat 10

34 18.06.2012 04.07.2012 5135 15.07.2012 30.07.2012 5436 05.08.2012 21.08.2012 3237 25.11.2012 10.12.2012 4938 11.12.2012 27.12.2012 5039 30.12.2012 16.01.2013 4940 20.05.2013 03.06.2013 50

1 03.02.2013 18.02.2013 49

2 16.05.2013 30.05.2013 60

Batch no. Date of Commencement Date of Completion No. of Students

Orientation Programme

ITT Batches

Coaching Classes



Sr. No Date No.of Students

34 11.06.2012 17.06.2012 5135 16.07.2012 22.07.2012 5036 30.07.2012 05.08.2012 5137 03.12.2012 09.12.2012 4838 24.12.2012 30.12.2012 5439 21.01.2013 28.01.2013 5040 28.01.2013 03.02.2013 5541 04.02.2013 10.02.2013 5442 11.03.2013 17.03.2013 2243 20.05.2013 26.05.2013 50

98 05.06.2012 15.07.2012 38

99 07.08.2012 16.10.2012 31

100 07.08.2012 03.10.2012 38

101 13.08.2012 16.10.2012 38

102 18.09.2012 10.11.2012 35

103 01.11.2012 18.12.2012 37

104 20.12.2012 12.02.2013 37

105 24.12.2012 19.01.2013 38

106 01.03.2013 31.03.2013 26

107 27.01.2013 28.02.2013 34

108 23.04.2013 30.05.2013 31

1 August 2012 26

2 February 2012 27

3 August 2012 39

4 February 2013 18

PRESENCE OF ICAI DIGNITARIES

Sr. Name Designation Date of Visit

1 CA. Jaydeep Narendra Shah President - ICAI 08.06.12

2 CA. K. Viswanath Chairman, SIRC 08.06.12

3 CA. Prasun Kumar Bhattacharyya Chairman, EIRC 08.06.12

4 CA. Mukesh Singh Kushwah Chairman, CIRC 08.06.12

5 CA. (Dr.) Durga Das Agrawal Chairman, NIRC 08.06.12

6 CA. Durgesh Kabra Chairman, WIRC 08.06.12

7 CA. M. M. Chitale Past President, ICAI 08.06.12

8 CA. R. Bupathy Past President, ICAI 08.06.12

9 CA. Kamlesh Vikamsey Past President, ICAI 08.06.12

10 CA. Harish Motiwala Past CCM, ICAI 08.06.12

11 CA. Manish Baxi Past Vice Chairman, WIRC 08.06.12

12 CA. Jay Chhaira Vice- Chairman, WIRC 08.06.12

13 CA. Anil Bhandari Secretary, WIRC 08.06.12

14 CA. Abhijit Kelkar Chairman, Nagpur Branch 08.06.12

15 CA. Ashwini Agrawal Secretary, Nagpur Branch 08.06.12

16 CA. Rajkumar Adukia CCM, ICAI 08.06.12

17 Mr. Koshy John Jt Secretary, WIRC 08.06.12

18 CA. Shruti Jayesh Shah Chairperson, WICASA 08.06.12

19 CA. Ashok Chand Jain RCM, WIRC 08.06.12

20 CA. Chandrakant V. Pawar RCM, WIRC 08.06.12

21 CA. Dhiraj K. Khandelwal RCM, WIRC 08.06.12

22 CA. Mangesh P. Kinare RCM, WIRC 08.06.12

23 CA. Nandkishor C Hegde RCM, WIRC 08.06.12

24 CA. Neel P. Majithia RCM, WIRC 08.06.12

25 CA. Parag R. Rawal RCM, WIRC 08.06.12

26 CA. Rajesh N. Shah RCM, WIRC 08.06.12

27 CA. Sanjeev D. Lalan RCM, WIRC 08.06.12

28 CA. Shardul D. Shah RCM, WIRC 08.06.12

29 CA. Sunil K. Patodia RCM, WIRC 08.06.12

30 CA. Vishnu K. Agrawal RCM, WIRC 08.06.12

31 CA. Harish Motiwala Past Chairman, WIRC 08.06.12

32 CA. Prafulla Chhajed Past Chairman, WIRC 08.06.12

33 CA. Brijmohan Agrawal Past Chairman, WIRC 08.06.12

34 CA. Brijesh Shah Chairman, Anand Branch 08.06.12

35 CA. Narendra Dhalani Chairman, Gandhidham Branch 08.06.12

36 CA. Prasit Parekh Secretary, Bharuch Branch 08.06.12

37 CA. P.C. Choudhary Chairman, Surat Branch 08.06.12

38 CA. Pragnesh Jagasheth Vice- Chairman, Surat Branch 08.06.12

39 CA. Rajiv Chanda Secretary, Surat Branch 08.06.12

40 CA. Vijay Jagani Treasurer, Surat Branch 08.06.12

41 CA. Shweta Jain Chairperson, Vasai Branch 08.06.12

42 CA. Rajarajeswaran P.V. RCM, SIRC 08.06.12

43 CA. B. P. Rao Past President, ICAI 09.06.12

44 CA. Abhijit Kelkar Chairman, Nagpur Branch 09.06.12

45 CA. Ashwini Agrawal Secretary, Nagpur Branch 09.06.12

46 CA. V.C. Darak Past Chairman, WIRC 09.06.12


Sr. Name Designation Date of Visit

48 CA. Nilesh Vikamsay Chairman, Board of Studies, ICAI 06.07.12

49 Shri Vijay Kapur Director, Board of Studies, ICAI 06.07.12

50 CA. Atul Bheda CCM, ICAI 07.07.12

51 CA. Nandkishor C Hegde Member, WIRC 18.08.12

52 CA. Rajkumar Adukia CCM-ICAI & Chairman, CMII 21.08.12

53 CA. Tarun Ghia, Mumbai Past RCM, WIRC 21.08.12


55 CA. B. K. Patel RCM- WIRC 21.08.12

56 CA. Pankaj Jain Chairman, Peer Review Board 22.08.12

57 Mr. H M Jorapur Dy Secretary , ICAI Mumbai 23.08.12

58 CA. Sanjeev Maheshwari CCM, ICAI 24.08.12

59 CA. Dhinal Shah CCM, ICAI 24.08.12

60 Mr. B. Murlidharan Dy Secretary , Exam Section, ICAI 07.09.12

61 CA. Sunil Talati Past President, ICAI 06.10.12

62 CA. N. P. Sarda Past President, ICAI 02.11.12

63 CA. Mahesh Sarda CCM, ICAI 02.11.12


65 CA. Sunil Talati Past President, ICAI 03.11.12

66 CA. Suresh Kabra Past Chairman, Surat Branch 03.11.12

67 CA. B. K. Rathi Past Vice Chairman, WIRC 03.11.12


69 CA. Durgesh Kabra Chairman, WIRC 14.12.12


71 CA. P.C. Choudhary Chairman, Surat Branch 14.12.12

72 CA. Harishankar Toshniwal Past Chairman, Surat Branch 14.12.12

73 CA. Rajesh Sharma Past Chairman, NIRC 14.12.12

74 CA. C.V Pawar RCM 14.12.12

75 Mr. H M Jorapur Dy Secretary , ICAI Mumbai 15.12.12

76 CA. V. C. James Past CCM, ICAI 15.12.12

77 CA. Shweta Jain Chairperson, Vasai Branch 18.12.12

78 CA. Amarjit Chopra Past President, ICAI 26.12.12

79 CA. Jay Chhaira CCM,(elect) 08.02.13

80 CA. Uttam Prakash Agrawal Past President, ICAI 20.02.13

81 CA. Mangesh P. Kinare Chairman, WIRC 22.03.13

82 CA. Parag R. Rawal Vice-Chairman, WIRC 22.03.13

83 CA. Neel P. Majithia Secretary, WIRC 22.03.13

84 CA. Priti Savla Treasurer, WIRC 22.03.13

85 CA. Tarun Ghia, Mumbai CCM, ICAI 27.04.13

STUDENTS ACTIVITIES

CAREER COUNSELLING PROGRAM

1 24.07.2012 Aniruddha wire-cut pvt Ltd 34

2 26.08.2012 Sardar Sarovar Dam, Gurudeshwar & sulpaneshwar 47

3 27.09.2012 B.M. Parikh Foundation 10

4 31.10.2012 Trade Fair 7

5 01.11.2012 Income Tax Department 7

6 02.11.2013 Vadodara enviro Channel Ltd 7

7 03.11.2012 HPS Gas ltd 11

8 03.11.2012 Green Apple Pvt ltd 9

9 05.11.2012 Saawan Engineering Pvt Ltd 5

10 06.11.2012 Awareness Program for voting 50+

11 7.11.2012 Goraj Muni seva ashram 7

12 25.11.2012 Pavagadh & Chapaner 56

13 06.12.2012 Hindustan Pharmaceutical 57

14 07.12.2012 Baroday Dairy 7

15 19.12.2012 Enjoy distributors 8

16 21.12.2012 Furrat International 8

17 24.12.2012 Inox Multiplex 14

18 13.01.2013 Visit to VIBRANT GUJARAT Summit 25

19 13.01.2013 Vintage Village 25

20 22.01.2013 Sayajibaug Zoo. Visit to various departments like food processing andpreparation for animals, animal hospital and meeting with Curator of Zoo 9+

21 05.02.2013 Visit to AD 323 Army Regiment by CA Students to learn how army works,different anks of officers & weapons used by Indain Army. 32

22 17.02.2013 Visit of VCCI EXPO, A mega Industrial Exihibition 27

23 24.02.2013 Visit to Mega Exhibition organised by BETA on information technology. 25

24 05.03.2013 Educational Visit to Vidhan Sabha (State Legislative Assembly of Gujarat) &an opportunity to listen the State Budget being discussed in the question hour inpresence of CM of Gujarat, various ministers and leader oppotioin etc 55

25 05.03.2013 Visit to World Heritage Site ADALAJ NI VAAV by the students 55

26 09.03.2013 Industrial Visit to Big F.M. by the students to understand How the RadioStation Works & operates 20

03.08.2012 Mega Career Counselling CA. Abhishek Nagori Baroda High School 100+

08.08.2012 Session I - CA. Abhishek Nagori &CA Ashish parikh Karelibaugh Vadodara 140

08.08.2012 Session II - CA. Abhishek Nagori &CA Ashish parikh Karelibaugh Vadodara 152

13.08.2012 Career Counselling CA Nirav Shah Ambe Vidhyalaya,Waghodia Road,

Vadodara

08.11.2012 Career Counseiling Program CA Ashish Parikh Kunal Vidhyalaya,Vadodara 70+

10.01.2013 Career Counseiling Program CA. Nirav Shah Nutan School 75+

24.01.2013 Career Counseiling Program CA. Tushar PathakCA. Rajiv Desai" 80+

Industrial Visits / Educational Tours

Sr. Date Name of Firm/ Organization Attendance

Date Event Speaker Venue Attendance

Jay Ambe Vidhyalaya,12th Commerce Students

Jay Ambe Vidhyalaya,11th Commerce Students

55

Vidya Vikas School

Date Event Speaker Venue Attendance

18.02.2013 Career Counseiling Program CA. Tushar Pathak Aditi Vidyalaya,Manjalpur, Vadodara.

23.02.2013 Career Counseiling Program CA. Nirav Shah Auxilium ConventHigh School,G.I.D.C,

Vadodara.

06.07.2012 25th All India CA Students Conference for CA Students 1227

07.07.2012 25th All India CA Students Conference for CA Students 1227

24.07.2012 Capital Budgeting 7

08.09.2012 Full Day Seminar on Tax Audit 170

23.09.2012 Full Day Seminar on Working Capital Management 58

30.09.2012 Full Day Seminar on Amalgamation, Absorption & Reconstruction by CA Mayur Thakkar 71

01.10.2012 Accounting (Amalgamation, Absorption & Reconstruction) 44

06.10.2012 Taxation 49

07.10.2012 Accounts 76

12.10.2012 Costing 46

13.10.2012 Costing 47

29.11.2012 Smart Phones & Identity Theft 58

16.02.2013 Full Day Seminar Organized For Orientation of New Article Trainees which wouldhelp them in initial months of training. Topics: Basic Principles Governing an Audit,Principles of Accounting & Accounting Standards, Introduction to Procedural aspectsof Income Tax & Introduction to ROC & its Compliance-By eminent faculties respectively.

09.03.2013 Full Day Seminar on Financial Management - Cost of Capital, Business Risk,Financial Risk and Ratio Analysis 40

10.03.2013 Full Day Seminar on Auditing - Standards on Auditing, Company Audit & CARO 100

11.03.2013 Full Day Workshop on Accounting Standards 30

12.03.2013 Full Day Seminar on Accounting 30

14.03.2013 Full Day Seminar on IDT - Service Tax, Customs & Excise 210

18.03.2013 Full Day Revision Seminar on Law Ethics & Communication. 30

22.03.2013 Full Day Workshop on Costing 50

29.03.2013 Full Day Seminar on Accountancy - Amalgamation, Absorption, InternalReconstruction & External Reconstruction. 50

30.03.2013 Full Day Revision Workshop on Strategic Management 50

01.04.2013 Full Day Seminar on Information Technology 60

23.06.2012 Banking A/c scheme for NRI 7

28.08.2012 AS-28 Impairment of Asset 23

30.08.2012 Practical issues on Capital Gain 15

29.10.2012 Limited Liability Partnership 11

07.11.2012 GST 28

08.11.2012 Provisions of TDS 11

10.11.2012 Case Studies of TDS 15

27.11.2012 Reverse Charge Mechanism 5

28.01.2013 Revised Regime of Service Tax 40+

07.03.2013 Analysis of Financial Statements 50

60

40Near

MakarpuraRoad,

Date Event Attendance

Study Circle Meetings

Full Day Seminars / Workshops / Conferences

Elocution / Debate / Quiz Competition

1st Residential Refresher Course

YOUTH FESTIVAL - " XITIJ - 2012"

SPORT FESTIVAL

CULTURAL ACTIVITIES

Date Subject Attendance

07.07.2012 Branch level Elocution competition 19

22.08.2012 Branch level Quiz Competition 25

08.09.2012 School Level Debate Competition 50+

24.11.2012 &

25.11.2012 Resort, Jambughoda

22.12.2012 & Funfair23.12.2012 Garba Competition

Singing Competition

Treasure Hunt Competition

DJ

Best Stall & Food Competition

1st Student's Residential Refresher Course @ Caravan 56

2000+

15.12.2012 & Table Tennis Tournament , Chess Tournament 90+

16.12.2012 Carrom Tournament, Badminton Tournament & Pool Tournament

126.01.2012 Volley Ball Tournament at Baroda High School . Vadodara 46

26.01.2012 Cricket match with members of Baroda Branch at GSFC ground, Bajwa, Vadodara. 30

05.02.2012 Vadodara International Half Marathon -2012, Vadodara 83

12.02.2012 Cricket Match - Wicasa V/S Students at M.S.University, Pavalion Ground 25

18.02.2012 Cricket Tournament at Bhutdi Zampa Ground 100+

19.02.2012 Cricket Tournament at Bhutdi Zampa Ground 60+

15.12.2012 Annual Sports Festival at Baroda Presidency Club 200+

Go-carting Race, Bike Race, Cycle Race, Volley Ball Tournament, Day night

Cricket Tournament

13.01.2012 Kite flying competition and festival with RJ Manan, Redio Mirchi. 107

18.01.2012 Attending 150th Youth CONVENTION of Swami Vivekananda 5

26.01.2012 Yoga 14+

26.01.2012 Flag hoisting 38+

14.02.2012 Valentine Day Celebration with Antakshri Compitition & Musical Evening 150+

08.03.2012 Holi Milan 50+

26.05.2012 Initial Audition for Fashion Show 30+

30.05.2012 Audition for MOC 25+

01.07.2012 CA Day Celebration - Flag Hosting 100+

01.07.2012 64th CA Day Celebration 200+

01.07.2012 WICASA 44th Birthday Celebration 200+

05.08.2012 Friendship Day Celebration at Pavagadh, Halol 35

09.08.2012 Janmastmi Celebration - "Govinda Matki Phod" 50+

15.08.2012 Independence Day - Flag Hoisting 100+

15.08.2012 Celebration of Success of "25th All India CA Students Conference" at Hotel Yuvraj 150+

05.09.2012 Teachers Day Celebration 50+

14.11.2012 Diwali Celebration 15

SOCIAL ACTIVITIES

Date Subject Attendance

01.01.2012 Blanket Distribution to Needy all over Vadodara District 5

19.01.2012 Tree Plantation at VAD Garden, Vadodara 50

03.02.2012 "Child Right And You" - Imparting Education to Needy Students at

Karkhadi High School, Karkhadi 160+

04.02.2012 "Child Right And You" - Imparting Education Needy Students at

Karkhadi High School, Karkhadi 150+

07.02.2012 "Child Right And You" - Helping To Blind Girls

Motivation Lecture at Lions Blind Girls High School, Vadodara 50

08.02.2012 "Child Right And You" - Helping To Orphans Bal Gokulam, Vadodara 80

20.02.2012 Missionares Of Charity - Helping To Old Age Home at Makarpura Vadodara 5

24.05.2012 Blood Donation ICAI Bhawan, Vadodara 52

01.07.2012 Blood Donation CampICAI Bhawan, Vadodara 100+

20.08.2012 Sharing Happiness with Orphan Balgokulam 22

30.12.2012 "Say No to Plastic" ICAI Bhawan, Vadodara 10

28.12.2012 Medical Checkup for CA StudentsICAI Bhawan, Vadodara 70

31.12.2012 Blanket Distribution to Needy All over Vadodara District 7

Team WICASA 2012

Baroda Branch of WIRC ofThe Institute of Chartered Accountants of India

FINANCIALSTATEMENTS

To

We have audited the accompanying financial statements ofBaroda Branch of Western India Regional Council of theInstitute of Chartered Accountants of India, whichcomprise the Balance Sheet as at March 31, 2013, and theIncome and Expenditure Account for the year then endedand a summary of significant accounting policies andother explanatory information.

Management is responsible for the preparation of thesefinancial statements in accordance with the CharteredAccountants Act, 1949. This responsibility includes thedesign, implementation and maintenance of internalcontrol relevant to the preparation of the financialstatements that are free from material misstatement,whether due to fraud or error.

Our responsibility is to express an opinion on thesefinancial statements based on our audit. We conducted ouraudit in accordance with the Standards on Auditing issuedby the Institute of Chartered Accountants of India. ThoseStandards require that we comply with ethicalrequirements and plan and perform the audit to obtainreasonable assurance about whether the financialstatements are free from material misstatement.

An audit involves performing procedures to obtain auditevidence about the amounts and disclosures in thefinancial statements. The procedures selected depend onthe auditor’s judgment, including the assessment of therisks of material misstatement of the financial statements,whether due to fraud or error. In making those riskassessments, the auditor considers internal controlrelevant to the Branch’s preparation and fair presentationof the financial statements in order to design auditprocedures that are appropriate in the circumstances. Anaudit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the

The Council of theInstitute of Chartered Accountants of India

Management’s Responsibility for the FinancialStatements

Auditor’s Responsibility

INDEPENDENT AUDITOR’S REPORT

accounting estimates made by management, as well asevaluating the overall presentation of the financialstatements.

We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our auditopinion.

In our opinion and to the best of our information andaccording to the explanations given to us, the financialstatements of the Branch for the year ended 31st March,2013 are prepared, in all material respects, in accordancewith the Chartered Accountants Act, 1949 and give theinformation required by the Act in the manner so requiredand give a true and fair view in conformity with theaccounting principles generally accepted in India:

(a) in the case of the Balance Sheet, of the state ofaffairs of the Branch as at March 31, 2013;

(b) in the case of the Income and ExpenditureAccount, excess of income over expenditure for theyear ended on that date.

Without qualifying our opinion, we draw attention to Note12 in Schedule ‘Q’ to the financial statements relating toprovision for retirement benefits, income –tax and otherdirect taxes applicable, if any, being made at the HeadOffice.

In terms of Regulation 196 of the Chartered AccountantsRegulations 1988, we further report that: :

a. we have obtained all the information andexplanations which to the best of our knowledgeand belief were necessary for the purpose of ouraudit;

b. in our opinion proper books of account as requiredby law have been kept by the Branch so far asappears from our examination of those books;

c. the Balance Sheet and Income and ExpenditureAccount dealt with by this Report are in agreementwith the books of account .

Opinion

Emphasis of matter

Report on Other Legal and Regulatory Requirements

ForChartered AccountantsFirm Registration No.112894W

Membership No.031363Place :VadodaraDate : 5th April, 2013

Vakil Jain & Hindocha

CA. Narendra Hindocha

1. All the collections made by Branch during the periodhave been recorded correctly in the books ofaccount.

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

3. Branch does not keep petty cash book.

4. There are no dishonored cheques.

5. Branch has purchased capital assets ofRs.2506662/- during the period which are dulyrecoded in the fixed assets register and their entrieshave been physically verified at the year end.

6. Pending grants of earlier year amounting to Rs.431372/- is received during the year. Out of Totalclaim of Rs. 2325000 for the financial year 2012-2013, Rs. 546000/- is received and balance is yet toclaimed from ICAI.

7. Inter Unit Balance with Regional Council is dulyreconciled.

8. Publications Stock are properly maintained andphysically verified by the office bearer of theBranch. Stock Register of stationery is notmaintained. Stationery is written off whenpurchased.

9. Systems and Procedures followed for purchases aresound. As the practice followed generally, allpurchases are made from the parties whosequotation is the lowest.

10. The details of the Expenditure and Income of eachseminar are enclosed. These are properly accountedfor and expenditure is met out of participation feesand there is no shortfall on aggregate basis.

11. Branch has not adopted the Budgetary Controlsystem for capital and revenue expenditure.

12. Salary of Branch Staff is paid from Branch Revenueand HO Revenue Grant. Decision regarding salaryof new employee recruited and revision of salary incase of existing staff is being taken by executivecommittee.

13. Proper record of Inventory of Publication withregard to inward, outward and stock is kept andaccount of the same is being sent to the CentralOffice quarterly. Stocks of Publication are valued asper AS-2.

14. Proper records have been kept for SuggestedAnswers, Revisionary Test Papers, Study Material,etc. and account of the same has been sent to theCentral Office Quarterly.

15. Expenditure on Postage, Telegrame, Telephone,Freight, Rate and Taxes has been properlyaccounted.

16. Proper accounting has been done for ascertainingcost of the Newsletter published by the Branch andthe Newsletter is self-supporting.

17. No assets of Branch are unusable or discardedexcept an LCD projector, a type writer and an InkjetPrinter, Water Cooler.

18. Proper controls are in place in major areas.

19. Depreciation has been provided at the ratesprescribed by the Institute.

20. Branch has accounted properly all the Grant.

21. Branch has not paid any amount directly orindirectly to the member of Executive Committeeexcept reimbursement of expenses incurred bythem for the Branch activities.

DETAILED AUDIT REPORT FOR THE YEAR ENDED ON 31st MARCH, 2013

ForChartered AccountantsFirm Registration No.112894W

Membership No.031363Place :VadodaraDate : 5th April, 2013

Vakil Jain & Hindocha

CA. Narendra Hindocha

BALANCE SHEET AS AT 31ST MARCH 2013

Particulars Sch. As at As at31/03/2013 31/03/2012

Amount (Rs.) Amount (Rs.)

A. SOURCES OF FUNDS

2,875,656 3,418,427

TOTAL 13,466,450 14,241,126

B. APPLICATION OF FUNDS

TOTAL 13,466,450 14,241,126

1 Capital Reserve A 3,027,226 1,997,9042 General Reserve

Opening Balance 3,418,427 3,308,903Add : Transfer from Study Circle 19,732 -Add: Surplus during the year 1,781,365 109,524Less : Transfer during the year(towards ICAI Bhawan Phase II) 2,343,868 -

3 Other Reserves - -4 Earmarked Funds B 4,616,580 6,187,2435 Current Liabilities

(a) Other Liabilities C-I 303,559 149,275(b) Other Liabilities ( ICAI Account) C-II 414,551 28,934(c) Fees & Income received in advance D 1,127,991 1,589,000(d) Provision for Expenses E 337,657 134,157

6 Inter Unit Balance(a) ICAI Publication Stock A/c F 108,560 84,540(b) ICAI Blazer Payable Account 10,500 12,000(c) ICAI (BOS) Publication Account 432,711 557,351(d) WIRC Regional Council Current A/c 211,459 82,295

1 Fixed Assets G 2,793,281 730,1192 Investments

Earmarked Investments 4,616,580 6,187,243Other Investments 2,455,341 4,311,798

3 Current Assets(a) Publication Stocks 20,726 11,786(b) Other Receivables H 180,868 179,154(c) Advances and Prepayments I 273,296 116,685(d) Cash and Bank Balance J 1,400,663 974,456

4 Inter Unit Balance(a) ICAI Publication Stock A/c F 108,560 84,540(b) ICAI Blazer Payable Account 10,500 12,000(c) ICAI (BOS) Publication Account 432,711 557,351(d) Baroda Branch Inter-units Current A/c K 1,173,924 1,075,994

NOTES ON ACCOUNTS Q

As per our report of even dateFOR BARODA BRANCH OF WIRC OF ICAI

Chartered Accountants THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAFirm Reg. No. 112894W

PARTNER (Chairman) (Secretary) (Treasurer)M. NO. 031363BARODA BARODA : 5th APRIL 2013

For VAKIL JAIN & HINDOCHA

CA. NARENDRA HINDOCHA CA. Ashish Parikh CA.. Yash Bhatt CA. Viral Shah

INCOME & EXPENDITURE ACCOUNT FROM 1ST APRIL 2012 TO 31ST MARCH, 2013

Particulars Sch. For the Period ended on31/03/2013 31/03/2012


A. INCOME

TOTAL 15,800,182 13,884,288

B. EXPENDITURE

14,018,817 12,474,761

1 Grant received(a) Revenue Grant For 2012-13 279,075 147,800(b) Material Distribution Grant (BOS) - -(c) DCO Common Expense Grant 931,236 756,735

2 Income from Seminars/Conferences(a) Courses/ Seminars/ Conferences 4,741,186 2,707,250(b) Other Programmes 83,320 71,050(c) Gen Mgmt & Comm. Skills Course 1,544,000 1,592,000(d) Orientation Programme 1,305,000 1,179,000(e) CPT/IPCC Classes Income 2,724,072 2,748,250

3 Income from ITT Center - Baroda 1,712,000 1,912,0004 Income from Study Circle - Baroda 198,400 -5 Newsletter Income 314,100 263,8506 Interest Income

(a) Savings Bank Account 22,350 60,227(b) Fixed Deposits and Other Investments 856,823 391,797

7 Commission on Sale of Publications of ICAI/WIRC(a) Commission on sale of Publications of ICAI 175,425 154,217(b) Commission on sale of WIRC Publications - -(c) Commission on sale of Pub. of ICAI (BOS) - -(d) Commission on sale of Exam Forms 42,795 70,995

8 Other Income (See Note No B-3) L 870,400 1,829,117

1 Salary and Staff Expenses 675,795 425,7802 Printing, Stationery and Photocopy Expenses 61,329 98,5873 Newsletter Expense 308,126 263,6294 Postage, Telegram and Telephone Expenses 177,644 110,0675 Electricity and Rent, Rates and taxes M 820,240 741,6436 Repairs and Maintenance 933,184 1,018,1667 Expenditure on Seminars/Conferences

(a) Courses/ Seminars/ Conferences 4,097,304 2,483,612(b) Other Programmes 336,739 238,871(c) Gen Mgmt & Comm. Skills Course 1,203,218 1,310,423(d) CPT /IPCC Classes 2,373,057 2,652,676(e) Orientation Programme 586,909 465,166

8 Expenditure on ITT Center - Baroda N 1,272,120 1,296,9709 Expenditure - Study Circle - Baroda O 165,845 -9 Bank charges 1,656 1,77210 Other Expenses P 536,827 565,70311 Depreciation G 443,500 220,86912 Prior Period Expense (See Note No B - 8) 25,324 580,826

(See Note No B 13)



Surplus of Baroda Branch Of WIRC of ICAI 1,781,365 1,409,527

Less : Transfer to Building MaintenanceEarmarked Fund - 1,000,000Less : Transfer to ITT Center - BarodaGeneral Reserve - 300,000

NET SURPLUS TRANSFERRED TOGENERAL RESERVE 1,781,365 109,527

NOTES ON ACCOUNTS Q






Balance as per last year 1,997,904 1,961,904Add: Grants received during the year 977,372Add :Library Grant 51,950 36,000

S.B.Dandekar Prize Fund * 14,853 650 - 15,503 - 14,853Gordhandas Dhurabhai PatelMemorial Prize Fund 55,807 5,361 - 5,361 55,807 55,807Building Maintanance Fund* 3,189,767 84,522 95,363 1,944,643 1,425,009 3,189,767Earmarked Sports Funds * 27,950 - - 27,950 - 27,950Earmarked Students Funds * 28,520 - - 28,520 - 28,520C. D. Amin & R. J. Parikh Fund 58,626 4,940 - 5,415 58,151 58,626Shantaben R. Parikh Fund 52,748 4,445 - 4,920 52,273 52,748ITT Center Reserve 2,758,972 266,368 - 3,025,340 2,758,972

* Small balances of Earmarked Funds are trasnsferred to Building Maintenance Funds as per post facto Resolution passed by theManaging Committee. Balance addition in Building Maintenance Fund is on account of contribution received from Members duringthe year.Utilisation towards Building Maintenance Fund is on account of excess of expenditure over approved contribution fromICAI received for Baroda Branch ICAI Bhawan- Phase II

(Rs.) As at (Rs.) As at31/03/2013 31/03/2012

SCHEDULE : ACAPITAL RESERVE

TOTAL 3,027,226 1,997,904

(Rs.) (Rs.)Opening Interest Addition Utilization As at As atbalance earned 31/03/2013 31/03/2012

SCHEDULE : BEARMARKED FUNDS

TOTAL 6,187,243 366,286 95,363 2,032,312 4,616,580 6,187,243

SCHEDULES FORMING PART OF THE BALANCE SHEET AS AT 31ST MARCH 2013

Payable to Baroda Productivity Council - 29,280Security Deposit 37,000 50,000TDS Payable 10,966 42,530Scholarship Fund Liability - 22,500Sundry Creditors 255,593 4,965

Payable to ICAI for PF of Staff 38,164 28,084Payable to ICAI for Exam Forms 103,600 -Payable to ICAI For ISA Exam Forms - 850Payable to ICAI for Awarness Programme of CPF & GA 29,067 -Payable to BOS-Sale of Books, Prospectus Etc. 243,720 -

Advance Fees - Orientation 13th Batch - 3,000Advance Fees - 7th CPT Batch 238,000 526,000Advance Fees - 33rd & 35th GMCS Batch 5,000 -ICAI- May 2013 Exam Form 34,595 -Advance Fees - 6th IPCC Class 246,428 613,000ICAI - DCO Excess Payment Received 143,468 -Advance Fees - GMCS-1, IInd Batch & 40th Batch 144,000 140,000Advance Fees - ITT 64,000 304,000Advance Fees - Study Circle 52,500 -Advance Sponsorship Income 200,000 3,000

Telephone & Electricity 40,211 5,462Salary Expense 93,772 -Printing & Stationary Expense 4,752 30,675Internet Charges - 2,700Maintenance Expense 68,846 29,379Branch Expenses - 42,466Faculty Remuneration - Class Room 70,940 -Faculty Remuneration - ITT 36,432 -Audit Fees - Statutory 16,854 16,545Computer Maintenance - ITT 5,850 6,930

(Rs.) As at (Rs.) As at31/03/2013 31/03/2012

SCHEDULE : C -IOTHER LIABILITIES

TOTAL 303,559 149,275

SCHEDULE : C -IIOTHER LIABILITIES

TOTAL 414,551 28,934

SCHEDULE : DFEES AND INCOME RECEIVED IN ADVANCE

TOTAL 1,127,991 1,589,000

SCHEDULE : EPROVISION FOR EXPENSES

TOTAL 337,657 134,157

Rate Nos. Public- Totalations

SCHEDULE : FICAI PUBLICATION ACCOUNTA. OPENING STOCK - - 84,540 84,540

ADD: RECEIVED(i) ARTICLE SHIP FORM NEW - - - -(ii) PUBLICATIONS1 Tg on stock & receivable audit 150 18 2,700 2,700

2 Faq on ethical issues (rev. Fab. 2012) 50 10 500 500

3 Fiscal responsibility & budget management act 100 5 500 500

4 Implementation guide to sa 530 audit sampling 100 10 1,000 1,000

5 Educational material on ind as 1 presentation of financial statements 100 10 1,000 1,000

6 Educational material on ind as 2 inventories 50 10 500 500

7 Implementation guide to materiality in planning & performing an audit 100 10 1,000 1,000

8 Compendium of tg on internal audit vol. 1a, 1b, 1c & 2 750 5 3,750 3,750

9 Statement on peer review 40 15 600 600

10 Gn on accounting for real estate transactions 40 35 1,400 1,400

11 Gn on accounting for self generated certified emission reductions (cers) 40 5 200 200

12 Gn on accounting for rate regulated activities 40 5 200 200

13 Educational materialon ind as 37 provision conti. Liabilities & conti. Assets 75 10 750 750

14 Gn on certification of xbrl financial statements 100 10 1,000 1,000

15 Tg on cenvat credit 150 11 1,650 1,650

16 A study on drafting conveyancing, stamping & registration of commercial &

other document 230 5 1,150 1,150

17 Tg on royalty & fees for tech. Services 75 10 750 750

18 Tg on expatriates taxation 75 10 750 750

19 Aspect of international taxation a study 500 16 8,000 8,000

20 Guide on environmental audit 150 8 1,200 1,200

21 Gn on revised shedule vl to companys act, 1956 200 170 34,000 34,000

22 Compilation of registration provisions under vat laws of different state 225 5 1,125 1,125

23 Indian accounting standards (vol. 1 & 2) 800 5 4,000 4,000

24 Study on manner of ifrs implementation in eu & current status of ifrs imple.

In select countries 230 10 2,300 2,300

25 Taxation of charitable trust & institution 300 13 3,900 3,900

26 Gn on audit of public charitable intitution under the income tax act, 1961 150 15 2,250 2,250

27 Tg on internal audit of not for profit organisation npos 150 10 1,500 1,500

28 Code of governance for NGOs 250 10 2,500 2,50029 Tg on internal audit of infrastructure 150 10 1,500 1,500

30 Tg on internal audit of mining & extract industry 150 8 1,200 1,200

31 Compendium of accounting standards 600 15 9,000 9,000

32 Tg on internal audit of mutual fund 125 10 1,250 1,250

33 Implementation guide to risk based audit of financial statements 200 10 2,000 2,000

34 Implementation guide to sqc 1 300 10 3,000 3,000

35 Tg on audit of non-banking financial companies 300 5 1,500 1,500

36 Sm on indian accounting standards vol 1 250 5 1,250 1,250

37 A study on succession, wills, family arrangements/ settlements & huf partitions 175 5 875 875

38 Compendium of guidace notes of accounting 350 4 1,400 1,400

39 Handbook of auditing pronouncement (2012) 900 3 2,700 2,700

40 2/3 days workshop on enbling service tax practice bm 100 5 500 500

41 Compendium of implementation guide to engagement & quality control standards 500 5 2,500 2,500


Total (i)+(ii) 136,940 136,940


B. SALESARTICLE SHIP FORM OLD - - - -PUBLICATIONS

42 Data analytics & continuous controls monitoring 200 8 1,600 1,600

43 Tg on internal audit of tendering process 150 3 450 450

44 Guide on corporate responsibility (csr) audit 150 6 900 900

45 Manual on concurrent audit of bank - 2013 450 5 2,250 2,250

46 The chartered accountants regulation, 1988 (rev. Edi. 2011) 90 3 270 270

47 The chartered accountants act, 1949 40 3 120 120

48 Guidance note on audit of bank 750 30 22,500 22,500

1 Guide to audit of complex financial instruments 150 7 1050 1,050

2 Gn on certification of XBRL financial statements 100 10 1000 1,000

3 Tg on audit in hotel industry 150 3 450 450

4 Statement of peer review 40 10 400 400

5 Aspects of international taxation - a study 500 15 7500 7,500

6 Compilation of registration under vat laws of different states 225 2 450 450

7 Tg on cenvat credit 150 11 1650 1,650

8 Gn on revised schedule vl to companies act, 1956 200 211 42200 42,200

9 Code of ethics 240 1 240 240

10 A handbook on special economic zones 300 3 900 900

11 Guidance note on audit of bank 750 2 1500 1,500

12 Compendium of tg on internal audit vol. 1a, 1b, 1c & 2 750 5 3750 3,750

13 A study on drafting conveyancing, stamping & registration of commercial

& other document 230 5 1150 1,150

14 A ready referencer on indicative professional opp. Areas in select comm. &

economic laws 255 5 1275 1,275

15 Study on co-ordination of internal auditors with functional heads 100 7 700 700

16 Indian accounting standards (vol. 1 & 2) 800 5 4000 4,000

17 (sae) 3402 assurance reports on controls at a services organisation 50 2 100 100

18 Tg on royalty & fees for tech. Services 75 11 825 825

19 Study on manner of ifrs implementation in eu & current status of ifrs imple.In select countries 230 3 690 690

20 Tg on expatriates taxation 75 9 675 675

21 Handbook on professional opportunities in internal audit 250 4 1000 1,000

22 Tg on internal audit of retail industry 175 5 875 875

23 Tg on stock & receivable audit 150 17 2550 2,550

24 Faq on ethical issues (rev. Fab. 2012) 50 10 500 500

25 Fiscal responsibility & budget management act 100 1 100 100

26 Implementation guide to sa 530 audit sampling 100 9 900 900

27 Educational material on ind as 1 presentation of financial statements 100 6 600 600

28 Educational material on ind as 2 inventories 50 9 450 450

29 Implementation guide to materiality in planning & performing an audit 100 9 900 900

30 Gn on accounting for real estate transactions 40 35 1400 1,400

31 Gn on accounting for rate regulated activities 40 3 120 120

32 Educational materialon ind as 37 provision conti. Liabilities & conti. Assets 75 3 225 225


C. Material return to icai - -D. Publping of obsolete material - -

E CLOSING STOCK 108,560 108,560

33 Guide on environmental audit 150 7 1050 1,050

34 Taxation of charitable trust & institution 300 13 3900 3,900

35 Gn on audit of public charitable intitution under the income tax act, 1961 150 15 2250 2,250

36 Isa prospectus 150 5 750 750

37 Tg on internal audit of not for profit organisation npos 150 6 900 900

38 Tg on internal audit of mining & extract industry 150 2 300 300

39 Code of governance for ngos 250 10 2500 2,500

40 Standard on review engagementsre-2400 50 1 50 50

41 Standard on review engagementsre-2410 50 1 50 50

42 Tg on automobile industry 300 2 600 600

43 Tg on internal audit of life insurance business 230 1 230 230

44 Tg on social audit 150 3 450 450

45 Tg on internal audit of bpo industry 200 2 400 400

46 Gn on accounting for self generated certified emission reductions (cers) 40 1 40 40

47 Compendium of accounting standards 600 14 8400 8,400

48 Implementation guide to risk based audit of financial statements 200 4 800 800

49 Handbook of auditing pronouncement (edi. 2012) 900 1 900 900

50 A study on succession, wills, family arrangements/settlements & huf partitions 175 5 875 875

51 Tg on internal audit of infrastructure industry 150 1 150 150

52 Tg on audit of non-banking financial companies 300 2 600 600

53 Sm on indian accounting standards vol 1 250 4 1000 1,000

54 Compendium of guidance notes of accounting (edi. 2012) 350 2 700 700

55 2/3 days workshop on enbling service tax practice bm 100 5 500 500

56 Data analytics & continuous controls monitoring 200 6 1200 1,200

57 Guide on corporate responsibility (csr) audit 150 3 450 450

58 Implementation guide to sqc 1 300 1 300 300

59 Manual onin cuncurrent audit of bank (revi. 2012) 450 5 2250 2,250

60 Guidance note on audit of bank (edi. 2013) 750 1 750 750

61 Tg on internal audit of tendering process 150 3 450 450

- - 112,920 112,920

STOCK OF EXAMINATION FORMS Nos. Rate Amount Total

A. OPENING STOCK AS AT 1-4-2012 - - - -ADD: RECEIVED

1,955,000

B. LESS: SALES

488,300

LESS: DESTROYED

1,474,800

C. CLOSING STOCK AS AT 31.03.2013 - - - -D. EXAM FORM HANDLING INCOME

42,795

E. SALE PROCEEDS REMITTED TO ICAI

307,310

F. PAYABLE TO ICAI AS ON 31.03.2013 138,195.00

June 2012 Exam Forms - CPT 1,200 1,000 1,200,000November 2012 Exam Forms 400 500 200,000ISA June 2012 Exam 25 100 2,500December 2012 Exam Forms CPT 400 1,000 400,000May 2012 Exam Form 300 500 150,000ISA December 2012 Exam Form 25 100 2,500

June 2012 Exam Forms - CPT 294 1,000 294,000November 2012 Exam Forms 80 500 40,000ISA June 2012 Exam 16 100 1,600December 2012 Exam Forms CPT 112 1,000 112,000May 2012 Exam Form 81 500 40,500ISA December 2012 Exam Form 2 100 200

June 2012 Exam Forms - CPT 906 1,000 906,000November 2012 Exam Forms 320 500 160,000ISA June 2012 Exam 9 1,000 9,000December 2012 Exam Forms CPT 288 1,000 288,000May 2012 Exam Form 219 500 109,500ISA December 2012 Exam Form 23 100 2,300

June 2012 Exam Forms - CPT 22,050November 2012 Exam Forms 6,000ISA June 2012 Exam 240December 2012 Exam Forms CPT 8,400May 2012 Exam Form 6,075ISA December 2012 Exam Form 30

June 2012 Exam Forms - CPT 271,950November 2012 Exam Forms 34,000ISA June 2012 Exam 1,360

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SCHEDULE : HOTHER RECEIVABLES

TOTAL 180,868 179,154

SCHEDULE : ILOANS, ADVANCES AND PREPAYMENTS

TOTAL 273,296 116,685

SCHEDULE : JCASH AND BANK BALANCE

TOTAL 1,400,663 974,456

SCHEDULE : KOTHER ACCOUNTS(A) ICAI - HO Current A/c

TOTAL (A) 545,708 411,467

(B) WIRC - Receivable A/c

TOTAL (B) - 17,194

(C) Baroda Branch Inter Units

TOTAL C 628,216 647,333

TOTAL (A+B+C) 1,173,924 1,075,994

Receivables for Seminars & Conference 2,200 117,500Fees Receivable for CPT 14,000 -Fees Receivable IPCC Batch 9,500 -Accrued Interest on Fixed Deposit 135,668 -Fees Receivable IPCC 6th Batch 19,500 -Rent Receivable Canteen - 6,000Receivable from Staff - 15,124Faculty TDS Receivable Account - 40,530

Maintenance Deposit - Ramkrishna Chambers 5,000 5,000Deposit - Water Jug 500 -Advance for International RRC - Flemingo Transworld Pvt Ltd 200,000 -Prepaid Expenses 66,796 110,685CC Avenue Deposit 1,000 1,000

Axis Bank- Alkapuri A/c No.01310101152957 596,574 578,310Axis Bank- Alkapuri A/c No.910010009005412 (CTC) 301,748 136,150Axis Bank - Alkapuri A/c No.013010101187281 (ITT) 106,522 117,996Bank of Baroda - A/c No.1143 (Study Circle) 171,679 -Auto Fixed Deposit 184,714 -Cheques on hand 39,426 142,000

ICAI Receivable - Staff Salary 113,370 155,760ICAI Receivable - Publication Excess Payment 70,868 -ICAI Receivable - Award Function 7,200 -ICAI Receivable - Campus Orientation 25,380 -ICAI Receivable - Public Programme on Investment Awareness 25,675 10,000ICAI Receivable - Programme on Cyber Crime 16,805 -ICAI Receivable - DCO Expenses 286,410 156,323ICAI Receivable - Campus Orientation - 58,576ICAI Receivable - ISA - 24,372ICAI Receivable - International Taxation Course - 6,436

WIRC Receivable - Special Meeting - 3,362WIRC Receivable - Mumbai (Orientation Programme) - 13,832

Baroda Branch of WICASA 628,216 121,832Baroda Branch ICAI Bhawan - 495,466Baroda Branch CPE Study Circle - 30,035

For the period ended on31/03/2013 31/03/2012

SCHEDULE : LOTHER INCOME

TOTAL 870,400 1,829,117

SCHEDULE : MELECTRICITY AND RENT, RATES & TAXES

TOTAL 820,240 741,643

SCHEDULE : NITT EXPENSES

TOTAL 1,272,120 1,296,970

SCHEDULE : OSTUDY CIRCLE EXPENSES

TOTAL 165,845 -

Hall Hire Charges 703,680 1,329,800Sale of Member's Directory 4,000 6,700Other Income 21,505 24,942Advertisement on notice board 8,000 18,500Advertisement on directory - 345,000Rental Income - Cafeteria 46,000 37,500Library Card Fees 56,200 50,100Sale of WIRC Publication 31,015 16,575

Electricity Expenses 707,257 567,493Rates & Taxes 112,983 174,150

Salary/Bonus to Staff / Leave Encashment Expenses 241,142 252,356Computer AMC Expenses & Repairs 119,223 51,909Electricity charges 24,340 171,231Faculty Honorarium 395,160 357,000House Keeping Expense 77,631 71,966Lab Rent 240,000 240,000Other Expenses 693 2,671Printing & Stationery and Photocopying Expenses 73,240 60,460Website Expense 9,102 48,466Security Expense 91,589 40,911

Hall Hiring Charges 51,000 -Canteen Expense 69,326 -Momento Expense 10,850 -Photography Expense 2,250 -Printing & Stationery 6,359 -Travelling Expense 8,993 -News Letter Expense 16,000 -Misc. Expense 1,050 -Bank charges 17 -

SCHEDULES FORMING PART OF THE INCOME & EXPENDITURE ACCOUNT FOR THE PERIODFROM 1ST APRIL 2012 TO 31ST MARCH 2013


SCHEDULE : POTHER EXPENSES

TOTAL 536,827 565,703

SCHEDULES ATTACHED TO AND FORMING PART OF THE BALANCE SHEET AND INCOME ANDEXPENDITURE ACCOUNT FOR THE YEAR ENDED ON 31.03.2013

SCHEDULE Q

A) SIGNIFICANT ACCOUNTING POLICIES

1 Accounting Convention

2 Fixed Assets and Depreciation

3 Grants

4 Current Assets

5 Income from Interest

B) NOTES TO ACCOUNTS

1 Earmarked Investments

2 Accounting of Branch Premises

3 Allocation of Expenses

Accounting Charges 14,400 72,000Activity Report Expense 29,830 26,462AGM Expense 18,240 2,535Travelling & Conveyance Expense 37,020 12,803Library Card Expense 37,745 24,834Misc. expense 2,665 -Office Expenses 252,084 109,139Interest on TDS 168 -Staff Welfare 43,185 32,289Statutory Audit Fees 16,854 16,545Members Directory Expenses - 173,616Internet & Website Expenses 57,576 80,212Purchase of WIRC Publication 27,060 15,268

Accounts are drawn on Accrual basis (except as otherwise specified)using Historical Cost Convention Basis and areprepared in accordance with ICAI Accounting Manual.

Depreciation on Library Books is provided at 100% and on other assets on W.D.V. Method as per Accounting Manual ofICAI. Depreciation is provided on pro rata basis on the addition of assets during the year.

Capital Grants including Library grants are accounted on Receipt Basis & Grant for Public Program & Revenue Grants areAccounted on accrual basis.

Publication Stock of ICAI are accounted at transfer price with corresponding obligation shown as liability as Inter UnitBalance.. Publications transferred by WIRC are shown at cost.

The Interest on Fixed Deposits with banks is accounted for on accrual basis. Income from earmarked investments ofspecific funds is credited to respective funds. The income from investments not earmarked is credited to the Income &Expenditure Account.

Earmarked Investments have been invested in Fixed Deposits with Axis Bank, Alkapuri Branch, Vadodara.

Particulars of receipts, payments, assets and liabilities with respect assets located at ICAI Bhawan have not beenincorporated in these accounts, as per ICAI Accounting Manual. A separate Receipts & Payments Account of ICAIBhawan is enclosed as Annexure IV to Notes to Account

Newsletter Income includes Rs. 43000 charged to Conferences, Seminars, Lecture Meetings , Workshops, WICASABaroda and Baroda CPE Study Circle and class room training centre on the basis of actual space utilised relating thereto forthe display in the Newsletter. Hall Hiring charges includes Rs. 658180 charged from WICASA Baroda, ITT and StudyCircle as reimbursement for utilising amenities.

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. All Inter-units receivables have been separately shown in schedule “K” that is self explanatory in nature.

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

8. Prior Period Expenses charged to Income and Expenditure Account during the period amounting to Rs. 25324/-. Thedetails are given hereunder.

1 On account of reconciliation of accounts with ICAI Bhavan 25,324.00

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

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

11 . Figures are rounded off to the nearest rupee.

12. Provision for retirement benefits, tax liabilities and other direct taxes applicable, if any, will be made by Head Office.

13. With effect from April 2012, Income, Expenditure, Assets, Liabilities of Study Circle are incorporated in these accounts.Balance held by Study Circle as on 1-04-2012 Rs. 19732/- is transferred to General Reserve.

Sr. Particulars Amount(In Rs.)

Prior year Expenses 25,324.00






For the year ended on31/03/2013 31/03/2012

A. RECEIPTS

T O T A L R E C E I P T S …… 28,084,750.00 829,971.00

B. PAYMENTS

1 Opening BalanceA Cash Balance - -B Bank Balance 106,013.00 47,928.00

2 Contribution From ICAI 22,500,000.00 -3 Contribution From Members 31,000.00 76,625.004 Contribution From Others - -5 Contribution From Cpe Study Circle - -

6 Baroda Branch Of WIRC Of ICAI 4,381,536.00 136,952.007 Retention And EMD 870,664.00 -8 Interest On Fd & S.B. Bank 190,537.00 57,255.009 Tender Fees 5,000.00 -10 Amount Tr. From Matured F.D. - 511,211.00

I Loan Payment And Transfers 93,025.00 723,958.001 Bridge Loan Payment 93,025.00 36,952.002 Baroda Branch Of WIRC - 687,006.003 Transfer To Baroda Branch - -

II Cost Of Building : 24,533,030.00 -

1 Construction Work 13,065,332.00 -2 Air Conditions 1,824,606.00 -3 Architect Fees 623,600.00 -4 Design Charges 17,000.00 -5 Cement 1,025,610.00 -6 Steel Purchase 1,363,119.00 -7 Borwell Expenses - -8 Chemical Treatment 7,800.00 -9 Electricity Bills 143,558.00 -10 Paints-Exterior - -11 Fountain - -12 Rolling Shutter - -13 Water Level Indicator - -14 Land Scaping - -15 Water Drainage Connection Exp 1,250.00 -16 Electrical Installation 1,176,805.00 -17 UPS - -18 Audio Visual System 161,929.00 -19 Cc Tv System 133,170.00 -20 Curtains 65,868.00 -21 Doormats22 Furniture'S 3,831,627.00 -23 Submersible Pump - -24 Shed 46,981.00 -25 Sign Board 353,256.00 -26 Internal Connection - -27 Telephone System - -28 Water Coolers - -

BUILDING ACCOUNT (ICAI BHAVAN) FOR THE YEAR ENDED ON 31ST MARCH 2013OF BARODA BRANCH OF WIRC OF ICAI

For the year ended on31/03/2013 31/03/2012

Other Expenses

III Investments & Deposits

IV Closing Balance

T O T A L P A Y M E N T S 28,084,750.00 829,971.00

29 Account Writing Charges - -30 Advocate Fees - -31 Corporation Approval Fees 301,365.00 -32 Legal Expenses33 Bank Charges - -34 Inauguration Expense 269,803.00 -35 Printing And Stationary - -36 Salary - -37 Staff Welfare - -38 Traveling Expense 90,952.00 -39 Watchman Salary - -40 Foundation Stone Ceremony / Pooja Expense 14,101.00 -41 Sign Board Expense - -42 Miscellaneous Exp 8,242.00 -43 Building Committee Meeting Exp 7,056.00

2,923,016.00 -44 EMD - -45 FD For Retention Money 870,664.00 -46 Fixed Deposit - -47 GEB Deposit - -48 Retention Money - -49 TDS Payment -50 Advance to Suppliers 2,052,352.00

535,679.00 106,013.00A Cash Balance - -B Bank Balance 535,679.00 106,013.00






THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIABALANCE SHEET AS AT 31ST MARCH, 2013 - ITT CENTRE- BARODA BRANCH

Particulars Sch. As at As at31/03/2013 31/03/2012


A. SOURCES OF FUNDS

B. APPLICATION OF FUNDS

1 Capital Grant Reserve A 878,974 878,9742 General Reserve

Opening Balance 1,055,937 986,828Add: Surplus during the year 415,192 69,109

1,471,129 1,055,937

3 Earmarked Funds B 4,365,827 4,099,4594 Current Liabilities

Fees Received in Advance 64,000 304,000Others Liabilities C 63,450 6,931

TOTAL 6,843,380 6,345,301

1 Fixed Assets D 159,370 180,4192 Investments

Earmarked Investments 4,365,827 4,099,459Other Investments 31,501

3 Current AssetsBaroda Branch Control Account 1,768,473 1,947,127Advances and Prepayments E 97,939 -Cash and Bank Balance F 420,270 117,996

TOTAL 6,843,380 6,345,001

NOTES ON ACCOUNTS H








A. INCOME

TOTAL 1,721,211 1,919,900

B. EXPENDITURE

TOTAL 1,721,211 1,919,900

1 Fees Income 1,712,000 1,912,0002 Interest Income

Savings Bank Account 4,051 7,900Fixed Deposits and Other Investments 5,160 -

1 ITT Lab Expenses G 1,272,120 1,296,9702 Depreciation D 33,899 53,821

1,306,019 1,350,791Surplus 415,192 569,109Less : FEES Transferred to General Reserve - 300,000Less : Surplus Transferred to Building Fund - 200,000NET SURPLUS TRANSFERRED TO 415,192 69,109

NOTES ON ACCOUNTS H

GENERAL RESERVE

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIAINCOME & EXPENDITURE ACCOUNT OF ITT CENTRE - BARODA BRANCH

FROM 1ST APRIL 2012 TO 31ST MARCH, 2013






Balance as per last year 878,974 878,974Add: Grants received during the yearCapital Grant - -

Building Fund Account 1,340,487.00 - - - 1,340,487 1,340,487IT Center Reserve 2,758,972.00 - 285,365.00 18,997.00 3,025,340 2,758,972

(Rs.) As at (Rs.) As at31/03/2013 31/03/2012

SCHEDULE : ACapital Reserve

TOTAL 878,974 878,974

Opening Interest Addition Utilization (Rs.) As at (Rs.) As atbalance earned 31/03/2013 31/03/2012

SCHEDULE : BEARMARKED FUNDS

TOTAL 4,099,459.00 - 285,365.00 18,997.00 4,365,827 4,099,459

SCHEDULES FORMING PART OF THE BALANCE SHEET AS AT 31ST MARCH 2013

Provisions for Computer Maintenance 5,850 6,930Provisions for Staff Salary 16,292 -Provision for Printing & Stationery 820Provisions for Faculty Remuneration 36,432 -TDS Payable 4,056 -

Accured Interest on Fixed Deposit 87,939 -Prepaid Expenses 10,000 -

Axis Bank- 013010101187281 106,522 117,996Auto FD with Axis Bank 313,748 -

(Rs.) As at (Rs.) As at31/03/2013 31/03/2012

SCHEDULE : COTHER LIABILITIES

TOTAL 63,450 6,930

SCHEDULE : D (ITT)

(Rs.) As at (Rs.) As at31/03/2013 31/03/2012

SCHEDULE : ELOANS, ADVANCES AND PREPAYMENTS

TOTAL 97,939 -

SCHEDULE : FCASH AND BANK BALANCE

TOTAL 420,270 117,996

GROSS BLOCK DEPRECIATION BLOCK NET BLOCKRate Opening Addi- Closing Opening Adjust Depre- Closing Rs. Rs.

FIXED ASSETS % Balance tions Balance Balance ments ciation Balance 31/03/2013 31/03/2012

Total 1,176,117 12,850 1,188,967 995,696 - 33,899 1,029,595 159,370 180,419

DATE WISE DETAILS OF ADDITIONS DURING THE YEARParticulars Date of Addition Amount (Rs.)

TOTAL - 12,850.00

Computer & Printer 60% 911,495 12,850 924,345 888,385 - 16,885 905,270 19,074 23,109

Electrical Installation 10% 75,920 - 75,920 28,910 - 4,700 33,610 42,309 47,009

Furniture & Fixtures 10% 136,502 - 136,502 51,890 - 8,461 60,351 76,151 84,612

Air Conditioner 15% 52,200 - 52,200 26,511 - 3,853 30,364 21,836 25,689

Computer & Printer 09/11/2012 12,850.00

SCHEDULES ATTACHED TO & FORMING PART OF THE BALANCE SHEET AND INCOME ANDEXPENDITURE ACCOUNT FOR THE YEAR ENDED ON 31.03.2013

SCHEDULE H

A) SIGNIFICANT ACCOUNTING POLICIES

1 Accounting Convention

2 Fixed Assets and Depreciation

3 Income from Interest

B) NOTES TO ACCOUNTS

Accounts are drawn on Accrual basis (except as otherwise specified) using historical cost convention basis andare prepared in accordance with ICAI Accounting Manual.

Depreciation on assets on W.D.V. Method as per Accounting manual of ICAI.

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 frominvestments not earmarked is credited to the Income & Expenditure Account.

1 Earmarked InvestmentsAll 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.






SCHEDULES FORMING PART OF THE INCOME & EXPENDITURE ACCOUNTFOR THE PERIOD FROM 1ST APRIL 2012 TO 31ST MARCH, 2013

Bank Charges - 333Salary /Bonus to Staff/ Leave Encashment Expenses 241,142 252,356Computer AMC Expenses / Repairs 119,223 51,909Electricity charges 24,340 171,231Faculty Honorarium 395,160 357,000Hose Keeping Expense 77,631 71,966Lab Rent 240,000 240,000Conveyance Expense - 2,338Printing & Stationery and Photocopying Expenses 73,240 60,460Website Expense 9,102 48,466General Expenses 693 -Security Expense 91,589 40,911


CHEDULE : GITT EXPENSES

TOTAL 1,272,120 1,296,970

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