61st - sircoficmai.in · egmore, chennai – 600 008 telephone: 044 – 28554443, 28554326. 61...

Southern India Regional Council

The Institute of Cost Accountants of India(Statutory body under an Act of Parliament)

61st

ANNUAL REPORT

Email: [email protected] Website: www.icmai.in/www.sirco!icmai.in

Address:

'CMA BHAWAN', 4, Montieth Lane,

Egmore, Chennai – 600 008

Telephone: 044 – 28554443, 28554326

61 Annual Report & Audited Accountsst

SOUTHERN INDIA REGIONAL COUNCIL THE INSTITUTE OF COST ACCOUNTANTS OF INDIA

Council Members Team – 2019-20 with outgoing Chairman

CMAs H. Padmanabhan, Council Member – ICAI and Mrs. Jyothi Satish, Chairperson - SIRCFelicitating Thiru Edappadi K. Palaniswami, Hon'ble Chief Minister of Tamil Nadu

THE INSTITUTE OF COST ACCOUNTANTS OF INDIA(Statutory Body Under An Act of Parliament)

SOUTHERN INDIA REGIONAL COUNCIL

61 Annual Report 2019 - 2020ST



Regional Council Members 2

Notice of the 61st Annual General Meeting 3

Annual Report of the Regional Council for the year 2019-20 4

Independent Auditor’s Report 27

Balance Sheet 29

Statement of Income & Expenditure 30

Schedules 31

Chapters under SIRC 39

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The Institute of Cost Accountants of India(Statutory body under an Act of Parliament)

Southern India Regional Council'CMA BHAWAN', 4, Montieth Lane, Egmore, Chennai – 600 008Telephone: 044 – 28554443, 28554326, Email: [email protected]

Website: www.icmai.in/www.sirco"icmai.in

TWENTIETH SOUTHERN INDIA REGIONAL COUNCIL – 2019 – 2020

Chairperson CMA(Mrs.) Jyothi SatishVice Chairman CMASankar P. PanickerSecretary CMAD. MunisekharTreasurer CMAR. Vishwanath BhatMembers CMAK. Suryanarayanan

CMAA. Vijay KiranCMARajesh Sai IyerCMAK. RajagopalCMAK. Panduranga RaoCMAY. Srinivasa Rao

Council Members CMAH. PadmanabhanCMAP. Raju IyerCMAS. Papa RaoCMADr. V. MuraliCMADr. K.Ch.A.V.S.N. Murthy

Bankers Bank of BarodaEgmore, Chennai – 600 008Indian Overseas BankEgmore, Chennai – 600 008Central Bank of IndiaEgmore, Chennai – 600 008

Auditors M/s Gopalaiyer and Subramanian,CharteredAccountants, Chennai – 600 017

InternalAuditors G. Sukumar & Co., CostAccountants, Chennai – 600 002



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NOTICE

NOTICE is hereby given that the 61st Annual General Meeting of the Members of the Southern India Regional Council

of The Institute of Cost Accountants of India will be held on Saturday the 18 July 2020 at 3.30 p.m. through Videoth

Conferencing to transact the following business:

1. To Receive theAnnual Report of the Regional Council for the year 2019- 2020.

2. ToAdopt theAccounts for the period ended 31st March, 2020.

3. ToAppointAuditors for the year 2020– 2021 and fix remuneration.

4. To Transact any other business as may be brought before the Meeting with the permission of

the Chairperson.

CMA(Mrs.) JYOTHI SATISHCHAIRPERSON

Place: ChennaiDate :30/06/20204, Montieth Lane,Egmore,Chennai – 600 008.

Note: Members who require clarification in respect of any matter connected with the Annual Report/ Audited

Accounts are requested to send their queries so as to reach SIRC at least five days in advance to the date of meeting.



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SIXTY FIRST ANNUAL REPORT

The Southern India Regional Council of the Institute of Cost Accountants of India has great pleasure in presenting tothe members the 61 Annual Report together withAuditedAccounts for the year ended 31st March, 2020.

st

1. COUNCIL: The Council and the Office Bearers for the year were as follows:

Regional Council Members Council Members

CMA CMAMrs. Jyothi Satish Chairperson H. PadmanabhanSankar P. Panicker Vice Chairman P. Raju IyerD. Munisekhar Secretary S. Papa RaoR. Vishwanath Bhat Treasurer Dr. V. MuraliK. Suryanarayanan Member Dr. K.Ch.A.V.S.N. MurthyA. Vijay Kiran MemberRajesh Sai Iyer MemberK. Rajagopal MemberK. Panduranga Rao MemberY. Srinivasa Ro Member

The Regional Council at its 1 Meeting held on 28-07-19 elected the Chairperson, Office Bearers and constituted ast

sub-committee as perAnnexure – I.

ICAI PRESIDENT & VICE PRESIDENT: CMA Balwinder Singh was elected as President and CMA Biswarup Basu asVice President of the Institute of CostAccountants of India for the year 2019-20.

2. MEETINGS: The Regional Council during the year met 5 times. Apart from the Regional Council Meetings,Executive Committee Meeting and Sub Committee Meeting (Students' Facilities Committee) were also held.

Chairperson –SIRC with Council Team Members – 2019-20



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Table showing the attendance of Regional Council /Council Members for the Regional Council Meetings held at SIRCfor the year 2019-20. (01-04-19 – 30-06-19)

Sl. No. Name of Council Members

CMA

Total No. RC MeetingsHeld

Total No. of RCMeetings attended

1 Suresh R. Gunjalli 2 2

2 Mrs. Jyothi Satish 2 2

3 Sankar P Panicker 2 2

4 K. Suryanarayanan 2 2

5 Dr. V. Murali 2 2

6 K. Sanyasi Rao 2 2

7 Dr.A. Mayil Murugan 2 -

8 Anegundi Y.H. 2 2

9 A.R.V. Badrinath 2 -

10 D. Zitendra Rao 2 1

11 H. Padmanabhan 2 2

12 Dr. P.V.S. Jagan Mohan Rao 2 2

13 Dr. I.Ashok 2 -

14 P. Raju Iyer 2 1

15 S. Papa Rao 2 -

Table showing the attendance of Regional Council /Council Members for the Regional Council Meetings held at SIRCfor the year 2019-20. (01-07-19 – 31-03-20)

Sl. No.Name of Council Members

CMA

Total No. RC MeetingsHeld

Total No. of RCMeetings attended

1 Mrs. Jyothi Satish 3 3

2 Sankar P. Panicker 3 3

3 D. Munisekhar 3 2

4 R. Vishwanath Bhat 3 3

5 K. Suryanarayanan 3 3

6 A. Vijay Kiran 3 2



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7 Rajesh Sai Iyer 3 3

8 K. Rajagopal 3 3

9 K. Panduranga Rao 3 2

10 Y. Srinivasa Rao 3 3

11 H. Padmanabhan 3 2

12 P. Raju Iyer 3 2

13 S. Papa Rao 3 2

14 Dr. V. Murali 3 3

15 Dr. K.Ch.A.V.S.N. Murthy 3 3

3 FINANCIAL HIGHLIGHTS. : It is gratifying for the Council to report the all-round improvements achieved during the currentyear.

4. PERFORMANCE HIGHLIGHTS:

4.1 Students:

a) STUDENTS REGISTRATION (ENTIRE SOUTHERN REGION)

Level 2018-19 2019-20

Foundation 8,961 10,473

Intermediate 10,117 12,543



Particulars2018 - 19

(Rs. In Lakhs)2019 - 20

(Rs. In Lakhs)

Income 482 661

Expenditure 263 333

Gross Surplus 219 328

Regional Council Fund 1677 2005

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Oral Coaching 2018-19 2019-20

Foundaton 1,148 1,415


Final 222 329

b) STUDENTS ENROLMENT (AT SIRC, CHENNAI)

c) Postal Coaching (ENTIRE SOUTHERN REGION)

Level 2018-19 2019-20

Foundaton 1,931 2,506


Final 411 636

d) 1st RankAchievers

Sl.No Name Regn.No Level Team Rank

1 DEEPAK JAIN KANKARIYA 02191051027 INTER DEC'2019 I

2 GURU BASKAR REDDY D 02162005324 FINAL DEC'2019 I

e) CAMPUS PLACEMENT (AT SIRC, CHENNAI)

Particulars 2018-19 2019-20

No.of Corporates Participated 21 20

No.of CandidatesAttended 420 470

No.of Candidates Short listed 340 390



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f) Career Counselling Programme:

SIRC organised Career Counselling Programmes as per details given below:

Sl.No Date Venue

1 15-07-19 Kumararani Meena Muthaiah College ofArts & Science, Chennai.

2 18-07-19 Chevalier TThomas Elizabeth College for Women, Chennai.

3 24-07-19 Sri Kanyaka ParameswariArts & Science College For Women.

4 25-07-19 Alagappa Schools,Chennai

5 13-08-19 AlphaArts and Science College, Chennai.

6 16-08-19 Women's Christian College, Chennai.

7 27-08-19 Vinayaka Mission's Research Foundation, Chennai.

8 17-09-19 Sree Muthukumaraswamy College, Chennai.

9 30-09-19 Justice BasheerAhmed Sayeed College for Women, Chennai.

5. Opening of New CMA Chapters: During the year 2019-20, Headquarters approved to form a New CMA Chapter in thefollowing places:1. Kozhikode - Malappuram (Kerala)

6 . Major Events:

6.1 SAFAFoundation Conference:South Asian Federation of Accountants (SAFA ) has celebrated its FoundationDay on 22ndAugust, 2019 for the first time and the Institute of CostAccountants ofIndia hosted the event by organising a Conference on the theme “EmergingChallenges and Opportunities for Professional Accountants in South Asia” atMarriott Hotel & Convention Centre, Hyderabad. Shri Bandaru Dattatreya, FormerMember of Parliament was invited as a Chief Guest. This conference wasattended by professionals all over India. CA. Krishna PrasadAcharya, President ofInstitute of Chartered Accountants of Nepal has also graced the event. The eventhas witnessed several discussions about the prevalent challenges andopportunities by senior experienced professionals. CMAs Dr. P.V.S.Jagan MohanRao, President – SAFA, S. Papa Rao, Dr. V. Murali, Dr.K.Ch.A.V.S.N. Murthy –Council Members, ICAI and CMA (Mrs.) Jyothi Satish, Chairperson – SIRC , CADayanivas Sharma and CAM.P.Vijay Kumar, Central Council members of the Instituteof CharteredAccountants of India have also graced and contributed sharing their valuable views in the program.

6.2 State Level Chapters Meet:In order to take the Profession to different level with extended cooperation and support of each one of the Chapters, ROCCsand CMA Support Centres PAN India, The ICAI, Regional Council and Chapters Coordination Committee, under theChairmanship of CMA H Padmanabhan, Council Member ICAI, had organized State Level Chapters Meet in the State of UttarPradesh and West Bengal. For Southern Region, The State Level Chapters Meet were held to address contemporary issuesfaced by Chapters under the Tamil Nadu,Andhra Pradesh & Telangana, Karnataka & Kerala States, as detailed below:

SAFA Foundation Day Conference 2019 -Inaugural Function



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The Meet was attended by respective Chairman/Secretary and Chairman of Students facilities Committee or throughauthorized representative/s. of the Concerned Chapters.


State Level Chapter’s Meet - Andhra Pradeshand Telangana States

State Level Chapter’s Meet - Kerala State

State Level Chapter’s Meet - Tamil Nadu State State Level Chapter’s Meet - Karnataka State

6.3 Insolvency & Bankruptcy Code 2016:Cochin Chapter in Association with Insolvency and Bankruptcy Board of India, Insolvency Professional Agency of the Instituteof Cost Accountants of India and the Institute of Company Secretaries of India - Kochi Chapter conducted a One day seminaron INSOLVENCY AND BANKRUPTCY CODE 2016 on September 16, 2019, at Center for Excellence, CMA Bhawan,Chalikkavattom, Vyttila.

The Programme was inaugurated by Mr. K. R. Sajikumar, Executive Director, IBBI. Mr. Sivasubramanian, Advocate &Insolvency Professional Partner, HSB Partners delivered a speech about Professional Opportunities and Processes underIBC2016. The Interactive session of the programme were handled by Hon'ble Mr. Ashok Kumar Borah, Member (J), NCLT,Kochi Bench and by Hon'ble Mr. Veera Brahma Rao Arekapudi, Member (T), NCLT, Kochi Bench. Dr. S.K. Gupta, MD & CEOIPAICAI, CMAAnil Xavier, Chairman, Cochin Chapter and CMA Sankar P. Panicker, Vice Chairman, SIRC, CS Asish Mohan,Chairman, Kochi Chapter of ICSI were shared the dais.

Sl.No Date State Venue

1 15-09-19 Andhra Pradesh & Telangana Visakhapatnam Chapter Premises

2 22-09-19 Kerala Hotel SP Grand Days, Trivandrum

3 20-10-19 Karnataka Hotel Paraag (Capital HotelAnnexe)

4 24-01-20 Tamil Nadu Hotel Rathna Residency, Coimbatore


Insolvency & Bankruptcy Code 2016 - Inaugural Session

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6.4 Regional CMAConvention:The Institute of Cost Accountants of India – SIRC has organised its Annual Prestigious Mega Event of Regional CMAConvention 2019 on 23 and 24 November, 2019 at Hyatt Regency,Anna Salai, Teynampet, Chennai – 18. The Theme of therd th

Convention was “Challenging Economic Landscape – Driving Performance Dimensions of Governance”. CMA BalwinderSingh, President of the Institute was the Chief Guest. CMA Dr. P.V.S. Jagan Mohan Rao President – SAFA was the Guest ofHonour. President of the Institute Inaugurated the Convention by lighting the traditional lamp with other Dignitaries.CMA(Mrs.) Jyothi Satish, Chairperson – SIRC rendered Welcome Address. The Theme of the Convention was briefed by CMASankar P. Panicker, Vice-Chairman – SIRC. CMABiswarup Basu, Vice – President of the Institute and CMAH. Padmanabhan,Council Member – ICAI also rendered 'Special Address'. Key Note Address was delivered by Dr. Tirthankar Patnaik, ChiefEconomist, National Stock Exchange of India Ltd.,

Regional CMA Convention – 2019 : Inaugural Session Best Chapter Award presented to Hyderabad Chapter at RCC - 2019

CMA Suraj Prakash, Director - Finance, BEML and ShriG. Ravindranath, Commissioner of GST & Central Excise, Chennai

Smt. Akila Ganesan, Admin. Director,Sankara Nethralaya, Chennai addressing

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Cross sec!on of the Delegates at RCC – 2019 Cultural Programme at RCC – 2019

Release of Souvenir at RCC 2019 - Chennai At the Valedictory Session – RCC 2019, Chennai

As part of the Inaugural Session, CMA H. Padmanabhan,Chairman, RC & Chapter Coordn. Committee, Chairman – CATCommittee and Council Member – ICAI announced the Nominations for 'Best ChapterAward' for the Chapters under SouthernRegion who performed well in their activities relating to Career Counselling, Students Admission, Professional DevelopmentActivities for the Members in Service as well as Practicing members. The 'Best Chapter Award' – Certificates were presentedby the President of the Institute to the Chapter Representatives under different Categories as per the details given below:

Sl. No. Chapter Name Category

1 Hyderabad “A”

2 Coimbatore “A”

3 Vijayawada “B”

4 Visakhapatnam “B”

5 Thrissur “C”

6 Mysore “C”

7 Nellore “D”

8 Erode “D”



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The Technical Sessions held for the two-day Regional CMAConvention 2019 were on the Topics, “The Challenging EconomicLandscape of today”, “Beyond the Immediate – The Concern of The Future”, “The Resource Landscape for Funding Growth”“Digital Transformation –At the Macro and Micro Levels” & “Healthcare For the Future”.As part of the Convention, on the Evening of Day – 1 Proceedings, 'Cultural Events' were held, during which “BarathaNatyam”, and “Group Dance” were performed by the artistes. “Karagattam” was also performed by CMAT. Thavamani & Mr.Velmurugan – Party. CMA Students performed 'Light Music' as a final event after which the Event Came to a close withConvention Dinner. The Cultural Events were well received by the delegates.The Valedictory Function of the Convention was held on 24 November, 2019 at 4.30 p.m. in which, Thiru Kadambur C. Raju,th

Hon'ble Minister for Information and Publicity, Govt. of Tamil Nadu was the Chief Guest. CMA (Mrs.) Jyothi Satish,Chairperson - SIRC rendered Welcome Address. CMA R. Vishwanath Bhat, Treasurer – SIRC summed up the entireproceedings of the two-day Convention. During the Function, the Minister for Information and Publicity released the Souvenirbrought out in connection with the Convention. After a brief addressing of Council Members from SIRC and other Regions ofICAI, the Convention ended with vote of thanks proposed by CMA D. Munisekhar, Secretary, SIRC – ICAI, followed byNationalAnthem.

6.5 MoU for Crash Course on 'GST' for Students:An MoU was signed for offering Crash Course on 'GST' for itsstudents by D.G. Vaishnav College, Chennai with our Institute on 5th

December, 2019 , in which CMAs Balwinder Singh, President – ICAI,P. Raju Iyer, Dr.V. Murali – Council Members – ICAI , CMA (Mrs.)Jyothi Satish, Chairperson – SIRC and Dr. R. Ganesan, Principal ofthe College & Faculty members of Post Graduate & ResearchDepartment of Commerce participated. The Classes were formallyinaugurated by CMA P. Raju Iyer, Central Council Member & CMA(Mrs.) Jyothi Satish, Chairperson - SIRC. 309 students from variousstreams of commerce would be trained in this Crash Course on GST.The Students would be certified by the Institute and the College, aftersuccessful completion of the Classes and clearance of theexaminations to be conducted. The programme was co-ordinated byShri K.B. Manikandan and CMA Rakesh Shankar R, Department ofCommerce, D G Vaishnav College.

Further to the MoU signed betweenAvichi College ofArts and Science, Chennai and the Institute, a Crash Course on GST forthe students of the College, was organised from 3 February 2020 to 15 February, 2020 in which 83 students participated.rd th

The Programme was formally inaugurated by CMAs P. Raju Iyer, Council Member – ICAI and R. Rakesh Shankar, CostAccountant – Chennai.

6.6 Interactive Round Table Session:ASCEND Kerala 2020:As per the invitation of the Principal Secretary, Govt. of Kerala, to solicited by a collaborative contribution and cooperation ofthe eminent finance (CMA/CA/CS) fraternity of the state to the Government of Kerala's flagship programme “Global InvestorsMeet” - ASCEND Kerala 2020 on Saturday, December 14, 2019, at Hotel Le Meridien, Kochi at 2 pm., an Interactive RoundTable Session was led by Sri. Pinarayi Vijayan, Hon'ble Chief Minister of Kerala in which CMAAnil Xavier, Chairman – CochinChapter and a team of 20 CMAs participated. The aim of the programme is to facilitate a vibrant platform for Global, Nationaland State-level fraternity to understand the investment potential of the state has to offer with a sharp focus on all-roundsustainable economic development for an “Industrial Friendly Nava Keralam”, during which the Chapter Chairman handedover a Representation to the Chief Minister of Kerala. The interactive session ended with High Tea.

CMA Dignitaries with Chief Minister of Kerala.

MoU Signed For GST Crash Course



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6.7 Metro Conference on 'The Insolvency & Bankruptcy Code, 2016':The Institute of Cost Accountants of India – SIRC and Hindustan Chambers of Commerce jointly organised MetroConference on the Theme, 'The Insolvency & Bankruptcy Code, 2016' on 4 January, 2020 at Chennai. Shri R. Varadarajan,th

Hon'ble Member (Judicial), NCLT, Chennai was the Chief Guest while Shri B. Anil Kumar, Hon'ble Member (Technical),Chennai was the Guest of Honour. Dr. Binoy J. Kattadiyil, MD, ICSI Institute of Insolvency Professional, Delhi (currentlymember, IBBI Panel for service providers) was the Special Guest at the Conference. CMA (Mrs.) Jyothi Satish, Chairperson,SIRC-ICAI rendered welcome Address. There were seven technical sessions which were handled by Experts in the field.More than 100 delegates comprising of Cost Accountants, Company Secretaries, Chartered Accountants and Lawyersattended the Conference.

Metro Conference on 'The Insolvency & Bankruptcy Code, 2016' Dr. Binoy j. Kattadiyil, MD, IPA - IBBI (currently member, IBBIPanel for service providers) at the 'Metro Conference'

6.8 Mandatory Capacity Building Training (MCBT):As per the directives received from Professional Developmentand CPD Committee, ICAI, six days "Mandatory CapacityBuilding Training "(MCBT) for Practicing CostAccountants whohave obtained the Certificate of Practice (COP) w.e.f 1stFebruary 2019 and prospective members going to opt toPractice the Profession was launched at the premises of SIRC-ICAI, Chennai from 20th to 25th January, 2020. CMA (Mrs.)Jyothi Satish, Chairperson, SIRC-ICAI welcomed theparticipants. CMA M. Gopalakrishnan, Former President –ICAI in his opening remarks, addressed on 'Standards issuedby the Institute (Accounting & Auditing) and GenerallyAccepted Cost Accounting principles'. The Topics which werehandled during the Training include 'Overview of Principles ofADR andArbitration', 'Valuation – How to become a RegisteredValuer', 'Understanding Business Assignments and itsCertifications', 'Practical Aspects in Cost Audit and Reporting','Insolvency & Bankruptcy Code 2016, How to become anInsolvency Professional', 'NCLT & NCLAT Pleadings &Appearances', 'Concept of SAP', 'Advanced Excel and Powerpoint presentation', 'ManagementAccounting, XBRL, UDIN',Practical Aspects of Direct Tax', 'Code of Conduct and Professional Ethics', 'Networking Skills & Business Behaviour', 'Scopeand Professional Avenues', 'Practical Aspects in GST Records and Returns', 'Practical Aspects in International Audit,ForensicAudit, StockAudit, BankAudit', 'Overview of Role of CostAccountants', 'How to set up a CMAPractice' were handledby the Eminent and renowned Field Experts. At the concluding Session, Participants in groups made Mock Presentation ontheir own.

Mandatory Capacity Building Training (MCBT)



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6.8.1 Training Programme on 'Advanced Course on Goods & ServicesTax':As per the guidance received from the Tax Research Directorate – ICAI, TheSouthern India Regional Council – ICAI organised Training programmes on'Advanced Course on Goods & Services Tax' to Senior Officers of theCommercial Taxes Department, Govt. of Tamilnadu. The 1 Batch Trainingst

Programme was held from 20 to 22 January 2020 at Hotel GRT Grand, T.th nd

Nagar, Chennai – 17 for which CMA (Mrs.) Jyothi Satish, Chairperson, SIRC– ICAI was the Course Director while Shri B. Suseel Kumar,Jt. Commissioner, Director – CTSTI was the Course Coordinator. This firstprogramme was attended by 150 participants from the Department. CMA(Mrs.) Jyothi Satish, Chairperson, SIRC – ICAI welcomed the participants.Shri M.A. Siddique, IAS., Commissioner of Commercial Taxes, Govt. of TamilNadu inaugurated the Training Programme and rendered SpecialAddress.Shri B. Suseel Kumar, Jt. Commissioner, Director – CTSTI rendered Inaugural Address. CMA Dr. Gopal Krishna Raju, briefedon the 3 Day Training Programme on 'Advanced Course on Goods & Services Tax'. Thiru J. Meghanatha Reddy, IAS., Tmt.G. Laxmi Priya, IAS., and Thiru K. Gnanasekaran, ADC were also present during the Inaugural Session. CMA R.Subramanian proposed Vote of Thanks at the end of the Inaugural Session.The Technical Sessions were handled by eminentspeakers. All the Lectures presented through Power Point Presentation were well received and very much appreciated by allthe participants and there were interaction sessions during some of the Sessions in which Speakers clarified the queries raisedby the participants. Shri M.A. Siddique, IAS., Commissioner of Commercial Taxes, Govt. of Tamil Nadu summed up theproceedings of the entire Technical Sessions handled by the Experts in their relevant fields.

6.8.2Advanced GST Training for Commercial Taxes Dept., Govt. of Tamil Nadu - 2 and 3 Batches:nd rd

As planned and as per the guidance received from the Tax Research Directorate – ICAI, the Southern India Regional Council –ICAI has organised the 2 Batch of Training programme on 'Advanced Course on Goods & Services Tax' to Senior Officers ofnd

the Commercial Taxes Department , Govt. of Tamilnadu at Hotel Thangam Grand. Madurai during 18 February to 20th th

February, 2020. Like-wise, the 3 Batch of the said Training was held at Hotel Taj Vivanta, Coimbatore from 24 February tord th

26 February, 2020. Around 150 participants took active part in each programme which concluded successfully.th

CMA (Mrs.) Jyothi Satish, Chairperson, SIRC – ICAI welcomed the participants and rendered Inaugural Address. Shri B.Suseel Kumar, Director/Jt. Commissioner(State Tax), Commercial Taxes Staff Training Institute, Chennai addressed theparticipants on the importance of the Training Programme and briefed on the topics to be covered by the eminent speakers. Inthe 3 Batch, during the Inaugural Session, Thiru Kranthi Kumar Pati, IAS -Jt. Commissioner, Tmt. Gayathri Krishnan B, IAS -rd

Jt. Commissioner, Thiru S. Gnanakumar - Jt. Commissioner and Thiru A. Swaminathan- Jt. Commissioner participated. All theLectures presented through Power Point Presentation were well received and very much appreciated by all the participantsand there were interaction sessions during some of the Sessions in which Speakers clarified the queries raised by theparticipants.

'Advanced Course on GST' for Sr. Officers of CTD, TamilNadu - Batch III - Coimbatore

Training Programme on‘Advanced Course on GST'



Inauguratiion of 'Advanced Course on GST'for Sr. Officers of CTD, Tamil Nadu - Batch II – Madurai

6.9 International Conference on 'International Taxation, GST Effects on India's Foreign Trade and Investments':

SIRC – ICAI and Pondicherry chapter of Cost Accountants in association withDepartment of International Business, School of Management, PondicherryUniversity organized a two day International Conference on 'International Taxation,GST Effects on India's Foreign Trade and Investments on 6th & 7th February 2020'.Pondicherry Chapter played the role as 'Knowledge Partner' providing variousresource persons for the seminar. Three Major topics discussed were as followsGST Impact on International Trade & Business, Taxation on E-CommerceTransaction in India, Tax Treaties. Papers were presented by various participantsincluding industry and academicians. Around 240 delegates comprising of Corporate Executives and Management SchoolStudents have attended the Conference.

Internatioanl Conference - Inaugral Session

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6.10 Karnataka CMAConvention:Bengaluru Chapter of Cost Accountants organized Karnataka State CMAConvention on 22 and 23 February 2020 at Sir M VAuditorium, FKCCI, K Gnd rd

Road, Bengaluru. The Theme of the Convention was 'Contributors toNational Development'. The Convention was inaugurated by Shri D VSadananda Gowda, Hon'ble Minister of Chemicals & Fertilizers, Governmentof India and presided by CMA(Mrs.) Jyothi satish, Chairperson-SIRC of ICAI.Key Note address was rendered by CMA Ramesh S, Former Chairman ofSIRC. CMASreepada H R, Chairman of Bengaluru Chapter briefed about thetheme of KCMA Convention. On Day -1, i.e. 22 February, 2020 there werend

three Technical Sessions handled by eminent speakers and on the same dayevening, a cultural Programme was performed by Sri N Muralikrishna andTeam followed by dinner.On the 2 day i.e, on 23 February 2020 Four Technical Sessions were handled by Eminent Speakers. Valedictory Session wasnd rd

presided by CMA P Thiruvengadam, Former National Director at Deloitte Touche Tohmatsu India Pvt. Ltd., CMA Dr. H S MBhatta, Former Chairman of Bengaluru Chapter proposed vote of thanks. More than 150 CMA Members participated in thisMega Event and all the delegates appreciated well on the presentations and interactions held during the Technical Sessions.

6.11 International Women's Day Celebrations:The Institute of Cost Accountants of India – SIRC organized International Women's Day Celebrations on 8 March, 2020 at E-th

Hotel, Anna Salai, Chennai – 600 002. CMATmt.Pooja Kulkarni, IAS, Special Secretary to Govt. Finance Dept., Govt. of TamilNadu & CEO, Tamil Nadu Infrastructure Development Board was the Chief Guest. CMA (Mrs.) Jyothi Satish, Chairperson,SIRC-ICAI welcomed the participants. CMA H. Padmanabhan, Council Member – ICAI rendered Special Address. Duringthe Celebrations, Dr. D. Dakshayani, Gynecologist – Chennai, Dr. Vasudha Prakash, V – Founder of Excel Educational Trust –Chennai , Smt. Latha Ramesh, Addl. Assistant Director, (CBIC) – Chennai, Smt. Sumathi Sudhakar, Director, FunbugPublishing LLP- Chennai, Ms. Rukmani K Narayan, Vice President – Equitas Small Finance Bank – Chennai Ms. Ushadevi,CharteredAccountant, KBR Engg. & Constructions with her Colleague Mr. Renganathan and Smt. R. Kasthuri, Yoga Instructor– Chennai addressed the gathering. After the Lecture of Yoga Instructor Smt. Kasthuri, a Yoga Demonstration Session washeld in which participants actively involved. As part of the Programme, Winners of the Essay Writing Competition – IWD2K19,organised by Banking and Insurance Committee – ICAI, were honoured by CMA Tmt. Pooja Kulkarni, IAS – Chief Guest. Allthe Lecture Sessions were well received by the participants.

Smt. Latha Ramesh, Addl. Assistant Director,(CBIC) – Chennai at the International

Women's Day Celebrations

Ms. Rukmani K Narayan, Vice President –Equitas Small Finance Bank at the

International Women's Day Celebrations

International Women's Day Celebrations –Cross Section of the Participants

Dr. Vasudha Prakash, V – FounderOf Excel Educational Trust at the

International Women's Day Celebrations



Karnataka CMA Convention - Inaugural Session

International Women's DayCelebrations – Inaugural Session

CMA Tmt.Pooja Kulkarni,IAS - Chief Guest Addressing

15

6.12 Nomination to SAFAWomen Leadership Committee:CMA (Mrs.) Jyothi Satish, Chairperson – SIRC was nominated as the Woman Representative from the Institute of CostAccountants of India on the SAFA Woman Leadership Committee for the year 2019-2020 and is the first woman to benominated.

6.13 ICAI Representation to Hon'ble Finance Minister, Govt. of India:As per the communication received from Chief Commissioners Office, GST & Central Excise, Chennai regarding the Meetingof Hon'ble Union Minister of Finance, Smt. Nirmala Sitharaman with Representatives from Trade and Industry on 1st

September, 2019 at Chennai, on behalf of the Institute, CMA(Mrs.) Jyothi Satish, Chairperson – SIRC participated in the meetand submitted a Representation made by the Institute on 'Concerns and Areas outlining the need of inclusion of “CostAccountant” under the definition ofAccountant as per the Income TaxAct 1961'.Chairperson – SIRC also participated in the 'Interactive Session' hold by Hon'ble Union Minister of Finance, Smt. NirmalaSitharaman regarding Union Budget 2020 held on 8 February 202 with the representatives of Trade & Industry at The Leelath

Palace, Chennai.


6. 14 The InsolvencyAnd Bankruptcy Code (Amendment) Ordinance, 2019And Ease Of Doing Business:Insolvency Professional Agency of the Institute of Cost Accountants of India, the Institute of Cost Accountants of India, CochinChapter inAssociation with Insolvency and Bankruptcy Board of India conducted an awareness programme on The Insolvencyand Bankruptcy Code (Amendment) Ordinance, 2019 and Ease of Doing Business on 22nd February 2020 at Center forExcellence, CMABhawan, Chalikkavattom, Vyttila. CMASankar P Panicker, Vice Chairman, SIRC was the speaker.

6.15 Programmes conducted at Chapter Level – Category-wise:Awareness Programme on ‘The IBC(Amendment) Ordinance, 2019 and Ease of Doing Business’

Chapter NameProf.Dev.Meet

Prac.Members/Members'

Meet

StudyCircle

Meeting

Seminar/Workshop/Trg. Prog

Jt.Prog.

HQDirective

Prog

Opening ofNew CMASupportCentre/SatelliteCentre

CareerCounselling

Bengaluru 10 8 1 1

Cochin 9 3 5 5 2 8

Coimbatore 6 6 4 22

Erode 17 1 *2 9

Hyderabad 26 10 1 5 6 1 9

Kottayam 5 2 8

Madurai 4 2 19

Salem 1 4 1

Mysore 3 14


16

* CMASupport Centre: 1. Kunnathur 2. Namakkal

7. Professional DevelopmentActivities:PD Meeting/Discussion Meeting/Study Circle Meeting held at SIRC:

7.1 PD Meeting:1. On 'Company Law – Practical Aspects', it was addressed by CMA Dr. P.V.S. Jagan Mohan Rao, President – SAFA &

Council Member – ICAI on 17 & 18 July, 2019.th th

7.2 Discussion Meeting/Study Circle Meeting:1. Discussion Meeting was held to discuss on 'Current Developments impacting CostAudit 2018-19'

at Chennai on 02-08-19.2. Study Circle Meeting was held to discuss on ' Changing Technology Landscape of CostAudit' at Chennai on 09-08-19.3. Study Circle Meeting was held to discuss on 'Valuation Techniques – Discounted Cash Flow' at Chennai on 16-08-19.4. Study Circle Meeting was held to discuss on 'Measurement Principles in Accounting Standards under Companies

(Accounting Standards) Rules 2006' at Chennai on 23-08-19.5. Study Circle Meeting on was held to discuss on 'Costing Vs. Pricing' at Chennai on 30-08-19.6. Study Circle Meeting on was held to discuss on 'Business Analytics' at Chennai on 06-09-19.7. Study Circle Meeting on was held to discuss on 'Remuneration To KMPs – Legal & Practical Aspects'

at Chennai on 13-09-19.8. Study Circle Meeting on was held on 'Professional Interaction with CMAs on Income Tax e-assessment Scheme

– 2019' at Chennai on 20-09-19.9. Study Circle Meeting on was held on ' Agile Professional Competencies for a CMA – A Debate'

at Chennai on 27-09-19.10. Study Circle Meeting was held to discuss on 'Legacy Dispute Resolution Scheme 2019' at Chennai on 04-10-

19.11. Discussion Meeting was held to discuss on 'Ease of Doing Business in India' at Chennai on 11-10-19.12. Study Circle Meeting was held to discuss on 'Cost Audit in Construction Industry' at Chennai on 18-10-19.

13. Study Circle Meeting was held to discuss on 'GST Annual Return & Audit – GSTR 9 & 9C – Key Practical AspectsAnd Latest Developments' at Chennai on 07-12-19.

14. Study Circle Meeting was held to discuss on 'Management of Our Health By Simple Ways and Means to ImproveOur Productivity' at Chennai on 14-12-19.

15. Study Circle Meeting was held to discuss on 'Electrical Bus/Car Manufacturing Operation Cost Advantage' atChennai on 21-12-19.



Nellai Pearl City 5

Nellore 2 4 2 129

Pondicherry 1 2 1 2

Ranipet Vellore 8

Trichy 2 57

Thrissur 2 3 1 28

Trivandrum 9 2 3 3

Ukkunagaram 7 5 2

Vijayawada 4 1 2 2

Visakhapatnam 6 2

17

16. Study Circle Meeting was held to discuss on 'Drafting & Vetting of Commercial Contracts' at Chennai on 28-12-19.

17. Study Circle Meeting was held to discuss on ‘SAP ERP - Enhancing The Performance BY ‘CMA’ at Chennaion 04-01-2020

18. Study Circle Meeting was held to discuss on 'Companies Act, 2013 – Non- Conventional Areas & ProfessionalOpportunities For CMAs' at Chennai on 11-01-20.

19. Study Circle Meeting was held to discuss on ‘Role of CMAs in Transaction Audit’ at Chennai on 18-01-202020. Study Circle Meeting was held to discuss on 'Balanced Score Card – Translating Strategy into Action' at Chennai

on 25-01-20.21. Discussion Meeting was held to discuss on 'Union Budget 2020' at Chennai on 02-02-20.22. Study Circle Meeting was held to discuss on 'Internal Audit Control Testing & Report Writing with Practical23.Study Circle Meeting was held to discuss on 'Health Care – Costing & Pricing Under Competitive Environment' at

Chennai on 15-02-20.24.Study Circle Meeting was held to discuss on 'Development of Risk Management – Role of CMA' at Chennai on

22-02-20.25.Study Circle Meeting was held to discuss on 'Decision Making in Banks: Role of CMA as a Catalyst' at Chennai on

29-02-20.26.Study Circle Meeting was held to discuss on 'Public Private Partnership (PPP) in Urban Sector' at Chennai on 07-

03-20.27.Study Circle Meeting was held to discuss on 'Importance of Cost Accounting, Cost Records and Cost Audit' at

Chennai on 14-03-20.

8. Certificate Courses offered by ICAI:

8.1 Certificate Course on GST (HQ Programme):The Institute of Cost Accountants of India, Tax Research Department along with the Board of Advanced Studies hasconducted the 'Certificate Course on GST' for the year 2019-20 at SIRC as detailed below:

Batch No. Date No. of students

4 04-05-19 to 14-07-19 24

5 14-09-19 to 08-12-19 31

6 *24-02-20 to 15-03-20 24

8.2 ICMAI Registered Valuers Organisation (RVO):ICMAI – RVO has conducted the following Programmes at SIRC of ICAI for the year 2019-20 which are detailed below:

Batch No. Date Subject No. of Students

1 16.05.2019 Securities and FinancialAssets(conducted as CEP

Credit Prog. For 1 Day)

25

7 27-05-19 to 02-06-19 Securities and FinancialAssets

13

8 23-09-19 to 29-09-19 -do- 13



18

9 05-12-19 to 07-12-19 &12-12-19 to 14-12-19

(Weekend Batch)

-do- 13

10 13-03-20 to 15-03-20) &*20-03-20 to 22-03-20

(Weekend Batch)

-do- 13

* Classes conducted through online due to Corona Lockdown announced by Govt.

8.3 SAP FICO Power User Course 2019-20 :As per the directives received from Advanced Studies Directorate, ICAI SAP-FICO Power User Course 2019-20 wascommenced on 1 February, 2020 followed by a formal Inaugural Session. Chairperson, SIRC –ICAI addressed thest

participants. Ms. J. Indhu Priyadarshini was the Trainer of the Programme. Total Number of participants for the Programmewas 51.

9. Programmes as directed by ICAI – HQ:

9.1 Observance of Direct Taxation Month:As per the directives received from the Tax Research Department of ICAI to observe Direct Taxation Month throughout Indiafrom 5th September 2019 to 5th October 2019, SIRC has organised a Seminar on 'Income Tax and Direct Tax Code –Expectations Ahead' on 5th October, 2019 at its Premises. Dr. G. M. Doss, IRS, Commissioner of Income Tax was the ChiefGuest who also handled a Session on 'Transfer Pricing'. The other Topics include ' 'International Taxation', 'Any other topicscovering Capital Gains and Loss set off', 'Assessment Procedure' , 'Taxation in Non Government/Non Profit Organizations' & 'TDS Provisions and Case Study' which were handled by Smt. R. Anita, IRS Senior Authorised Representative ITAT, Shri. T.Manimaran, IRS, Assistant Commissioner of Income Tax, Smt. R. Parameswari, Smt. Dhanalakshmi Ravikumar and Shri. R.Devarajan – Income Tax Officers respectively. The Seminar was attended by 90 members.

Seminar on 'Income Tax And Direct Tax Code -Expectations Ahead'

Seminar on 'Income Tax And Direct Tax Code –Expectations Ahead'– Commissioner of Income

Tax and Income Tax Dept. Officials



19

9.2 Swachhta Pakhwada:As per the directive of Ministry of Corporate Affairs, Govt. of India, in Commemoration of 150th Birth Anniversary of MahatmaGandhi Ji, on 2 October, 2019, SIRC of ICAI engaged in cleaning the building premises as a tribute to the Great Soul who hasnd

practiced the cleanliness in true sense, throughout his life, in which Staff of SIRC and students took active participation. CMAs(Mrs.) Jyothi Satish, Chairperson –SIRC, H. Padmanabhan, Council Member – ICAI & Rajesh Sai Iyer, Regional CouncilMember - SIRC also presented for this 'Cleanliness' Campaign.

9.3 150th anniversary celebrations of Mahatma Gandhi - Blood Donation Camp:In connection with and as per the directions of President ICAI on the occasion of 150th anniversary celebrations of MahatmaGandhi in line with MCAGoI advice, the ICAI SIRC organized a 'Blood Donation Camp' on 5th October 2K19 at its premises inwhich around 80 donors comprising of Students, Members and Officials of the Institute, donated their blood for noble cause.

9.4 MCADirective Programme: Ease of Doing Business in India:As per the directive of Ministry of Corporate Affairs to create awareness about the progressive reforms undertaken by theMinistry for Ease of Doing Business in India, SIRC has organised a Discussion Meeting on 'Ease of Doing Business in India' on11 October, 2019 at its premises. Chief Guest for this event was Shri A. Sehar Ponraj, Registrar of Companies, Tamil Nadu,th

Andaman & Nicobar Islands, Chennai. Mrs. S. Meenakshi, Jt. Director – Southern Region, MCA, Chennai – Guest Speakeraddressed our members on the topic.Around 50 members attended this programme.

Discussion Meeting on 'Ease Of Doing Business In India'

9.5 Rashtriya Ekta Diwas (National Unity Day):As per the directives received from HQ, ICAI-SIRC observed “Rashtriya Ekta Diwas” (National Unity Day), on the eve of thebirth anniversary of Late Sardar Vallabhbhai Patel on 31 October 2019. Members, Faculties and Staff of SIRC participated inst

the pledge taking ceremony conducted by SIRC.

9.6 Communal Harmony and Flag Day:As per the directives received from HQ, ICAI – SIRC observed Communal Harmony and Flag Day. A sum of Rs.775/- wascollected and deposited through Challan of Central Bank of India (Egmore Branch) to the credit of National Foundation forCommunal Harmony, New Delhi.

9.7 Observance of Budget Month:As per the directives received from HQ, ICAI – SIRC organized a Discussion Meet on 'Union Budget 2020' on the Topics Impacton Indirect Taxes – Union Budget 2020' & 'Impact on Direct Taxes – Union Budget 2020' which were addressed by Dr. P.Ravindran, Advocate & Consultant, Indirect Taxes and CMA T.G. Suresh, Tax Consultant respectively. Around 80 membersparticipated in this meet.



20

10.2 Oral Coaching Inauguration Programme:SIRC of ICAI has organised its Oral Coaching Inauguration Programme on10 August, 2019 at its Premises. CMA(Mrs.) Jyothi Satish, Chairperson –th

SIRC rendered Inaugural Address. Shri Ram Perumal, Director – H GarbInformatix Pvt Ltd., was the Chief Guest. CMAs H. Padmanabhan and P.Raju Iyer, Council Members – ICAI also addressed the audience. As part ofthe Programme, Senior Oral Coaching Faculty members and Rank Holderstudents were honoured. CMA Rajesh Sai Iyer, RCM – SIRC proposedvote of thanks at the end.Another Oral Coaching Inauguration Programme was organised by SIRCon 12 February, 2020 at its premises, for its Foundation, Intermediate &th

Final students who would be appearing for Institute Examinations to beheld in June 2020. CMA (Mrs.) Jyothi Satish, Chairperson-SIRC renderedWelcome Address. During the Programme, CMAs H. Padmanabhan,Council Member – ICAI, Sankar P. Panicker, Vice – Chairman – SIRC, R.Vishwanath Bhat, Treasurer – SIRC, K. Rajagopal, Chairman, Students' Facilities Committee – SIRC, K. Panduranga Rao, Y.Srinivasa Rao, Regional Council Members – SIRC also addressed the students attended the programme with their parents.As part of the Inaugural Session, Senior Oral Coaching Faculty Members were honoured by CMA Dignitaries present at thefunction. CMA D. Munisekhar, Secretary – SIRC proposed vote of thanks and the programme was concluded with NationalAnthem.

10.3 'SHE SKILLS' Programme:This year, the Kerala State Government's Additional Skill Acquisition Programme (ASAP) launched a New Programme titled'She Skills' to equip females above 15 years of age with job skills and to help them improve their communication, leadership,and organizational abilities. This Training was provided free of cost to candidates belonging to the Scheduled Castes,Scheduled Tribes, BPL families and candidates from non-creamy layer sections. 50% Fee concession was given toAPL/General Category students attended the programme. As a Knowledge partner, Cochin Chapter conducted one Batch ofShe Skill programme with our 'Certificate in Accounting Technicians' (CAT) Course. 30 students were attended theprogramme. The classes were commenced on 30 October 2019 and ended on 18 December 2019 at the Chapterth th

Premises. CMA Anil Xavier, Chairman of the Chapter formally Inaugurated the Programme on 30 October, 2019 and CMAth

(Smt) Meena George, MC member and Shri. Mohd. Nazer, Programme ManagerASAP presented on the occasion.

11. Students'Activities by Chapters:

11.1 CMAStudents' Programme 'IGNITE – Your Inner Creativity and Passion':Hyderabad Chapter organized CMA Students' Program titled 'IGNITE – YourInner Creativity and Passion' on 3rd November, 2019 at its Premises. Thisprogramme was started with a motivational talk by Shri Jaidav garu. CMAs Dr. K.Ch.A. V. S. N. Murthy, Council Member – ICAI, A. Vijay Kiran RCM – SIRC and ShriU. Rama Mohan- Superintendent of Police, Cyber Crime CID - AP, have addressedour budding CMAs and shared their valuable suggestions. To search the innertalents of the CMA students, Competitions like 'Quiz', 'Elocutions', 'Role Play', 'Jam'etc. were held during the Programme and around 100 students took active part inthese events. As part of the Event, CMA Dignitaries who graced the occasion withtheir August presence, presented Merit Awards to 60 students of December2018/June 2019 batch for their excellent academic performance.

10. CoachingActivities:

10.1 National Student Convocation:The National Student Convocation was held on 15 May 2019 at Eastern Zonal Cultural Centre, Kolkata. The Chief Guest wasth

Prof. Basab Chaudhuri, Vice Chancellor, West Bengal State University The following Rank Holders from Southern Regionwere honoured during the Convocation

Sl.No Name Regn.No Level & Syllabus Term Rank

1. AKARSH NARAYANACHETTY 02142011023 FINAL 2016 JUNE 2018 2

2 ROMITHA VIVEKANANDAN 02181031335 INTER 2016 DEC 2018 I

Best Performer Award being awarded to aCMA Student by CMA Dignitaries

Best Performer Honoured at CMA Students'Programme 'IGNITE’



21

11.3 CMA Students' Fest: 'Pragathi-2k20' :CMA Students' Fest titled 'Pragathi – 2k20' was organized byCochin Chapter on 6 March, 2020 at DD Retreat Club,th

Thammanam, Cochin. The Programme was inaugurated byCMA Balwinder Singh. CMAs H. Padmanabhan, CouncilMember – ICAI, CMA (Mrs.) Jyothi Satish, Chairperson-SIRC,Sankar P. Panicker – Vice Chairman – SIRC were present inthe Fest. Events like 'Best Management Team', 'Business PlanPresentation', 'Business Quiz', 'Group Dance Competition','Block & Tackle' etc. were conducted during the Fest. Around500 Students participated in this mega event from SouthernChapters like Hyderabad, Thiruchirapally, Salem, Coimbatoreand all Chapters from Kerala. Finally, Cochin Chapter baggedthe ever rolling trophy. Chapter also arranged felicitationprogramme to felicitate all the students who have successfullycompleted the examination in December 2019 alongwith 'Pragathi – 2k20'. Honourable Institute President CMA Balwinder Singh along with CMAs H. Padmanabhan, CouncilMember- ICAI, CMA (Mrs.) Jyothi Satish, Chairperson-SIRC and Sankar P Panicker, Vice Chairman - SIRC distributed themementos to the winners.

PRAGATHI 2K20 – Inaugural Session – Cochin Chapter

11.4 Mega Career Awareness Programme :Coimbatore Chapter participated in a Mega Career Awareness Programme organised by KPR College of Arts & Science andResearch in association with Rotaract District Organization on 7th September,2019. Around 2300 Higher SecondaryCommerce Students from various Schools in and around Coimbatore participated in this Mega Event in which CMA K.Ravindran, Chairman of the Chapter addressed on 'Career as a CostAccountant'.

11.5 COSMA FEST 2019:The Coimbatore Chapter had celebrated its Annual Inter-Collegiate Student Festival “COSMA FEST 2019” for Costing andManagement Students on Saturday, 21 September,2019 at PSG Institute of Management, Avinashi Road, Coimbatore. Thest

Student Festival was inaugurated by the Chief Guest Sri R.Ramamurthy, President, CODISSIA, Coimbatore andCMA(Mrs.)Jyothi Satish, Chairperson- SIRC of ICAI, Chennai was the Guest of Honour.Meritorious students who had excelled in the Institute's Foundation, Intermediate and Final Examinations during the previousyear were awarded by the Chief Guest. Students from various colleges actively participated in the day-long competitions inthe field of Management show-casing their talents and knowledge. The valedictory session was presided over byDr.S.Nirmala, Principal, PSGR Krishnammal College for Women, Coimbatore followed by a cultural function by the students.

11.6 Felicitation Function for the June 2019 Term Winners:The Institute of Cost Accountants of India, Thrissur Chapter conducted Felicitation Programme for the June 2019 term winnerson 13th Oct 2019 at Nalinam Auditorium, Thrissur. Chief Guest Hon. Shri K.Sanakaranarayanan, Former Governor –Maharashtra, Nagaland, Jharkand, Assam, Arunachal Pradesh, inaugurated the function. ICAI President CMA BalwinderSingh presided over the function. CMA H. Padmanabhan, Council Member - ICAI delivered Special address. ChapterChairman CMA T.G.Sugunan welcomed the gathering. CMA Dr.P.V.S.Jagan Mohan Rao - SAFA President, CMA Mrs. JyothiSatish- SIRC Chairperson, CMA Sankar.P.Panicker, SIRC Vice Chairman felicitated the winners. After the distribution oftrophies and reply speech of students, the programme winded up with Vote of thanks by Vice Chairman CMAJagadish.A.D.

11.7 Career Guidance Programme – DISHAIII :ICAI- Trivandrum Chapter along with other four Chapters of Kerala, viz.Kottayam, Kochi, Thrissur and Palakkad participated in “ DISHA III “, the HigherStudies Expo organised by the Career Guidance and Adolescent CounsellingCell of the Directorate of General Education, Higher Secondary Wing, Govt. ofKerala held at Kanhangad, Karsargod District, Kerala from 27.11.2019 to01.12.2019. During the 5 Day Event, around 25,000 visitors comprising ofStudents, Parents, Teachers and General Public were explained about our CMACurriculum, Job Potential and International Recognition etc. and it was a grandsuccess.

11.2 Felicitation Programme to Qualified CMA Students :On 7th September 2019 Cochin Chapter organized a meeting during the Students Onam celebration to felicitate all thestudents who have successfully completed the examination in June 2019. CMA Sankar P Panicker, Vice Chairman, SIRCpresented Mementos to the successful students. CMA Anil Xavier, Chairman and CMA Sureshkumar K P, Vice Chairmanwere also present.

CMA Dignitaries honoured at DISHA - III



22

11.8 Career Awareness Programme :ICAI – Visakhapatnam Chapter and CMASupport Centre – Srikakulam jointly organised aMega Career Awareness Programme on 24th December, 2019 at Hotel Blue Earth,Srikakulam. Shri Rama Mohan Naidu, Member of Parliament – Srikakulam was the ChiefGuest of the Programme while CMA Dr.P.V.S.Jagan Mohan Rao President SAFA wasGuest of Honour. During the Programme, CMAM. Ramakrishna, Chairman of the Chapterand Shri P.V.R. Patnaik, In-charge of the Support Centre apprised on the importance andbenefits of the CMA Course to the students who came with their parents numberingaround 220.

11.9 State Level Students Convention :Vijayawada Chapter organized State Level Students' Convention on 8 February, 2020 atth

a Convention Hall, Vijayawada. CMA Biswrup Basu, Vice President – ICAI was the ChiefGuest. CMA Dr. V. Murali, Council Member – ICAI was the Guest of Honour. While CMAP.V.N. Madhav, MLC was the Special Guest for the Event, CMA ChittaranjanChattopadhyay, Council Member – ICAI was the Special Invitee. CMAs S. Papa Rao,Council Member – ICAI, D. Munisekhar, Secretary – SIRC and K. Pandu Ranga Rao,RCM – SIRC were also among the Guests for the Event. The Convention was attended byaround 1200 students from various Colleges in and around Vijayawada. As part of theConvention, Events like 'Brain Witch Brew' , 'Rush your Brush', 'Team Building' , 'BalanceSheetAnalysis and Case Study' , 'Block and Tackle', 'Scrap Management and Puzzling','Dancing' and 'Singing' were conducted to the students gathered in a very large number. At the end, Prizes were distributed toall the Winners and runners of Various Competitions by the Chief Guest and CMA Dignitaries. On the same day evening, aMembers' Meet was also organized by the Vijayawada Chapter in which MC Members of Vijayawada Chapter, RegionalCouncil Members, and Dignitaries from Visakhapatnam Chapter, Hyderabad Chapter and Godavari Chapter participated.CMA Biswrup Basu, Vice President – ICAI who was the Chief Guest and all the CMA Dignitaries on the dais addressed theCMA Members and students present at large. CMA P S R Swamy, Chairman of Vijayawada Chapter and CMA P VinayRanjan, Secretary of Vijayawada Chapter thanked each and everyone for making the Meet a Grand Success. The Meet wasconcluded with Dinner.

12. Placement Services:

a) SIRC of ICAI has been arranging placement of students who have completed Intermediate and Final Examinations ofthe Institute since 1997. Under this programme necessary database is being updated regularly. The candidates'details are forwarded to various corporates on their request and many students are being recruited through thisprocedure.

b) The 15 Campus Placement Programme for CMA Final passed candidates was organised by the Institute at itsth

Southern Region Premises on 8 & 9 April, 2019. 7 Corporates and around 270 candidates took part in this megath th

event out of which, 90 candidates were shortlisted/selected by the Corporates participated in the event. Corporatessuch as ITC Hotels, Ford Motor Private Ltd, ITC Foods, ITC – PSPD (Paper Boards Dvn.), Wipro Technologies, H –GARB Informatix Pvt Ltd and Farida Shoes participated in this Batch. Pre Placement Orientation Programme wasalso held in Chennai from 9 March to 20 March 2019 to enhance the necessary employability skills of candidates toth th

face the interview with confidence enabling them to grab the opportunities from MNCs, Public & Private Sectororganisations with good pay package.Phase II – Campus Placement Programme:As informed by the Placement Directorate, ICAI, the Phase II Campus Placement Programme was held at SIRC on 3rd

and 4 June 2019 in which Corporates like Neyveli Lignite Corpn. Ltd., TVS Motor Co. Ltd., and Vedanta Groupth

participated and selected CMAGraduates according to their requirement.

Pre Placement Orientation Completion Certificate beingissued to a CMA Graduate

Pre Placement Orientation Programme –Valedictory Session

Career Awareness ProgrammeInaugural Session



State Level Students ConventionInaugural Session

23

Extended Campus Placement Programme:Apart from the above, Extended Campus Placement Programme was arranged by Placement Directorate, ICAI –Delhi, as detailed below:

Date Venue Name of the Company

17-06-19 Bengaluru Chapter Premises Schneider ElectricalsConsero Solutions India Private LtdM Panigrahi & Co (CharteredAccountants)

Summer Campus Placement Programme:For the first time, Placement Directorate – ICAI, Delhi organised Summer Campus PlacementProgramme for its CMA Final passed students as detailed below:

Date Venue Company Name

20-06-19 SIRC of ICAI, Chennai Vedanta Group

25-06-19 Hyderabad Chapter Premises Express Roadways Pvt Ltd.,

c) The 16 Campus Placement Programme for CMAFinalth

passed candidates was organised by the Institute at itsSouthern Region Premises on 10 & 11 October,th th

2019. 7 Corporates and around 200 candidates tookpart in this mega event out of which, 120 candidateswere shortl isted/selected by the Corporatesparticipated in the event. Corporates such as MaerskGlobal Service Centres (India) Pvt. Ltd (Chennai), ITCHotels, Vedanta Group. L & T Group, Power GridCorpn. of India Ltd., Wipro Technologies, and TubeInvestments of India Ltd., participated in this Batch.Pre Placement Orientation Programme was also heldin Chennai from 12 September to 23 Septemberth rd

2019 to enhance the necessary employability skills ofcandidates to face the interview with confidenceenabling hem to grab the opportunities from MNCs, Public & Private Sector organisations with good pay package.

Interview in Progress: L & T Construction

Extended Campus Placement Programme:Apart from the above, Extended Campus Placement Programme was arranged by Placement Directorate, ICAI –Delhi as detailed below:

Winter Campus Placement Programme:In Winter Campus Placement Programme organised by our Institute, the following Corporates participated andselected CMA Graduates as per their requirement.

Date Venue Corporate Participated

21-01-20 SIRC-ICAI Premises ITC Central projectANZ Bank Limited



Date Venue Corporate Participated

17-06-19 Bengaluru Chapter Premises Consero Solutions India Pvt. Ltd.,

24

13. Library:ICAI – SIRC added books worth Rs.29,609/- to the Library for facilitating the knowledge updation of members and students.

14. EventsAfter 1 April, 2020:st

As per the Office Orders issued from time to time by Secretariat – ICAI, from 23 March, 2020, Staff of SIRC have started theirrd

Office Work on 'Work from Home' mode, due to Corona VirusAlert and resultant Lock Down.

The following facilities were extended to our CMAMembers and Students during the lockdown crisis.

1. Queries received from Members and Students through E-mails and phone calls are replied / forwarded to HQ for f u r t h e raction, on priority basis.

2. Phone Calls received during the working hours to the Staff's Mobile Number from any student or Member about any issueswere also replied immediately by the concerned staff. ( Staff Members contact details are uploaded on our SIRC Website).

3. The Webinar Series Notifications received through CMA H.Padmanabhan, Council Member, ICAI pertaining to CMAStudents were also shared through SMS to all the students immediately.

4. To facilitate Oral Coaching Students, the following arrangements were made:a. Online classes through 'Zoom' have started from 6 April 2020.th

b. Video & audio recordings of lecture classes were shared through You Tube Video link, Google drive video links etcc. Study Notes and Important Question Bank with answers presented by Oral Coaching Faculty Members were

forwarded to all the Oral Coaching Students to their email for preparation to appear in June 2020 Term Examinations.d. Scanned copy of the hand-written materials, documents in word/pdf received from faculty members were also shared

to all the oral coaching students through their email for their use in June 2020 Term Examinations.e. All Collected Audio/Video/ Documents were also uploaded on SIRC Website for students reference and all the CMA

Chapters under SIRC were suggested to share this link to their Oral and Postal students for making use during theirpreparation for June 2020 Term Examinations.

f. Faculty members have been requested to help the students through WhatsApp & other convenient ways forclarification of doubts.

g. Apart from this, Institute also organised 'Webinar Sessions' for Students on regular basis to prepare well for theimpending ICAI Examinations. For Members, “WEBINT” Sessions were organised by the Institute on the relevanttopics of our CMAProfession regularly based on the convenience of the Speakers.

15.Acknowledgements:The Southern India Regional Council place on record its sincere thanks to:

· The President & Vice President, Council Members, especially those from Southern Region, all Departments of ICAI –HQ, & Chapters.

· Members of Southern Region for their whole hearted cooperation, guidance and support extended for variousactivities.

· The Central Government and State Government Ministers, Officers and staff for their support.· Industries and Bankers who have been evincing keen interest in our profession.· Speakers at our various Professional Development Programmes, Meets/Seminars/ Workshop etc,· Faculty members for their dedicated service to the Students Community.· Endowment Donors for instituting awards for encouraging students to achieve excellence in the Institute

Examinations.· All the Corporates for their participation in the Campus Placement conducted by the Institute.· All the Sponsorers for their benevolent sponsorship for making the Regional CMAConvention a grand success.· The media and all other well wishers for promoting the image of the profession.· The dedicated staff members of SIRC of ICAI for their cooperation in conducting various activities in a smooth manner.

Place: ChennaiDate : 30/06/2020



25

THE INSTITUTE OF COST ACCOUNTANTS OF INDIASOUTHERN INDIA REGIONAL COUNCIL

FOR THE PERIOD 2019-20Annexure - I

OFFICE BEARERSCMA Mrs. Jyothi Satish - Chairperson CMA Sankar P Panicker – Vice ChairmanCMA D. Munisekhar - Secretary CMA R. Vishwanath Bhat - Treasurer

CHAIRPERSON/CHAIRMAN & MEMBERS OF SUB COMMITTEES OF THE REGIONAL COUNCIL

S NO COMMITTEECHAIRPERSON/CHAIRMAN

CMAMEMBERS

CMA

1 EXECUTIVE

(Quorum – 3)

Mrs. JYOTHI SATISH SANKAR P PANICKERD. MUNISEKHARR. VISHWANATH BHATS. PAPA RAO

2STUDENTS' FACILITIES

(Quorum – 2)K. RAJAGOPAL

Y SRINIVASA RAOH PADMANABHANSANKAR P PANICKER(EX-OFFICIO)

Notes:

· As Per provisions of the Regulation No.: 127(2) Chairman will be the ex-officio member in all theCommittees except Students' Facilities Committee, wherein, the Vice-Chairman will be the ex-officiomember.

· The quorum is two for all Committees except for Executive Committee, for which the Quorum is three.

· The meetings of all the committee, except the Executive Committee will normally coincide with theRegional Council meeting, and in cases of need to have meetings for any special occasions, the samemay be called for b the respective Chairman of they committee, in consultation with the Chairperson –SIRC.



26

GOPALAIYER AND SUBRAMANIANCHARTERED ACCOUNTANTS

Valgai Apartments, Flat No 6, Second Floor, No 20/38, Viswanathapuram Main Road, Kodambakkam, Chennai – 600 024Phone: 044 42057722, Email: [email protected]

INDEPENDENT AUDITOR'S REPORT

To the Members of Southern India Regional Council of the Institute of CostAccountants of India

Report on the Standalone Financial Statements

We have audited the financial statements of Southern India Regional Council of The Institute of Cost Accountants ofIndia (SIRC), which comprises the Balance Sheet as at March 31, 2020 and the Income & Expenditure Account and CashFlow Statement for the year then ended and notes to the financial statements, including a summary of significant accountingpolicies (hereinafter referred to as “Financial Statements”).

In our opinion and to the best of our information and according to the explanations given to us, the accompanying financialstatements for the year ended March 31, 2020 are prepared in all material respects in accordance with The Cost and WorksAccountantsAct, 1959 and give a true and fair view in conformity with the accounting principles generally accepted in India:

(a) In the case of the Balance Sheet, of the financial position of the entity as at March 31, 2020;

(b) In the case of the Income & ExpenditureAccount, of its financial performance; and

c) In the case of Cash Flow Statement, of the cash flows for the year ended on that date in accordance with theAccountingStandards issued by the Institute of CharteredAccountants of India.

Basis of our Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) issued by Institute of Chartered Accountants ofIndia. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the entity in accordance with the ethical requirements thatare relevant to our audit of the financial statements in India and we have fulfilled our other ethical responsibilities inaccordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our opinion.

Responsibilities of Management and those charged with governance for the Financial Statements

SIRC Management is responsible for preparation and fair presentation of the financial statements in accordance with theAccounting Standards, and for such internal control as management determines is necessary to enable the preparation offinancial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the entity's ability to continue as a goingconcern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the entity or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the entity's financial reporting process.



27

28

Auditor's Responsibilities for theAudit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materialmisstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a materialmisstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in theaggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of thesefinancial statements

Legal and regulatory

1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessaryfor the purposes of our audit.

2. In our opinion, proper books of accounts as required by The Cost and WorksAccountantsAct, 1959 have been kept bySIRC so far as it appears from our examination of those books.

3. The Balance Sheet and Income and Expenditure account and Receipts & Payments Account dealt with by this reportare in agreement with the books of account.

4. In our opinion, the Balance Sheet, Income and Expenditure account and Cash Flow statement dealt with by this reportis prepared in accordance with the applicable Accounting Standards issued by the Institute of Chartered Accountantsof India and guidelines issued by the Institute of CostAccountants of India.

For Gopalaiyer and SubramanianCharteredAccountantsFRN: 000960S

Place: Chennai K.K.A.RamanujanDate : 30/06/2020 Partner

Membership No: 209498Place of signature, chennai.



28

29


BALANCE SHEET AS AT 31 MARCH - 2020ST

SignificantAccounting Policies and Notes onAccounts 23

The schedules referred to above form an integral part of the financial statement.

CMAMrs.JYOTHI SATISH CMASANKAR P PANICKER as per our report of even dateCHAIRPERSON VICE-CHAIRMAN for GOPALAIYER AND SUBRAMANIAN

CHARTEREDACCOUNTANTSFRN: 000960S

CMAD MUNISEKHAR CMA.VISHWANATH BHAT K.K.A.RAMANUJANSECRETARY TREASURER PARTNER

Membership No: 209498

PLACE: CHENNAIDATE : 30-06-2020



AS AT AS AT AS AT AS AT

Particulars SCH 31-03-2020 31-03-2020 31-03-2019 31-03-2019

Rs. Rs. Rs. Rs.

SOURCES OF FUNDS :

Regional Council Fund 1 200,509,825 167,679,089Building Development Fund 2 175,691 164,197Endowment / Memorial Funds 3 717,281 703,637

Total 201,402,797 168,546,923

APPLICATION OF FUNDS :Fixed Assets 4

Gross Block (A) 10,967,340 10,961,005Less: Accumulated Depreciation (B) 8,258,151 8,123,606Net Fixed assets (A-B) 2,709,189 2,837,399Long Term Loans and Advances 5 355,407 338,875Current Assets 6

Inventories - 67,550Sundry Debtors 28,321 3,134,897Cash & Bank 1,093,747 748,557Fixed Deposits 191,676,590 156,847,582Accrued Interest 6,868,370 5,798,334Short term Loans and advances 7 289,353 174,089Total Current Assets 199,956,381 166,771,009Less: Current Liabilities & Provisions 8 1,618,180 1,400,360Net Current Assets 198,338,201 165,370,649

Total 201,402,797 168,546,923

29

30


Income & Expenditure Account for the year ended 31 March 2020st



INCOME :

Tuition Fees & Others 9 45,799,150 34,878,200CEP, Training Income 10 6,893,927 1,180,300Interest Income 11 11,779,725 9,969,509Grant Received from H.Q 12 923,696 1,261,290Sale of Prospectus 595,750 605,000Other Income 13 110,437 293,895TOTAL INCOME (A) 66,102,685 48,188,194

EXPENDITURE :

Establishment Expenses 14 16,164,167 12,442,386Office Expenses 15 3,364,584 3,678,293CEP, Training Expenses 16 5,815,558 517,526Coaching Expenses 17 4,793,896 5,128,010Statutory Audit Fee 18 88,500 75,000Council & Committee Meeting Expenses 19 698,625 1,257,757Professional Development Expenses 20 1,483,533 2,249,357Cost of Prospectus sold 21 417,025 423,500Depreciation 22 467,261 498,440TOTAL EXPENDITURE ( B ) 33,293,149 26,270,269

Net Surplus transferred to Regional Council Fund 32,809,536 21,917,925

PARTICULARS

Current Year

31st March 2020

Rs.

Previous Year

31st March 2019

Rs.

sch

Pravakar Mohanty Dr. H. R. SubramanyaB.M.Sharma Pravakar MohantyB.M.Sharma Pravakar MohantyChandra Wadhwa Dhananjay V. JoshiChandra Wadhwa Dhananjay V. JoshiSignificantAccounting Policies and Notes onAccounts 23







30


Schedule to Balance Sheet as at 31st March 2020

Schedule : 1

REGIONAL COUNCIL FUND

Balance as per last account 167,679,089 145,738,364Add: i) Unclaimed Library Deposits 21,200 22,800ii) Net Surplus for the year transferred from Income & Expenditure A/c 32,809,536 21,917,925

Balance 200,509,825 167,679,089

Schedule : 2

Building Development Fund

Balance as per last account 164,197 153,599Add: Interest earned on Investment of Fund for the year 11,494 10,598Balance 175,691 164,197

Schedule : 3

Miscellaneous Prize & Other Funds

Balance as per last account 703,637 702,290Add: Interest earned on Investment of Fund for the year 49,255 48,457Less: Cost of Prizes/ Expenses 35,611 47,110Balance 717,281 703,637

Schedule : 4

Fixed Assets :

Furniture & Fittings:

Gross Block 2,820,836 2,769,296Less: Accumulated Depreciation 2,027,989 1,939,895Net Block 792,847 829,401

Library Books:


Generator & Office Equipments:

Gross Block 4,856,092 4,846,151Less: Accumulated Depreciation 3,092,838 2,962,489Net Block 1,763,254 1,883,662

Cycles :

Gross Block 3,682 3,682Less: Accumulated Depreciation 3,682 3,682Net Block - -

PARTICULARS

As at

31st March 2020

Rs.

As at

31st March 2019

Rs.



31


Schedule to Balance Sheet as at 31st March 2020



Computers including Software


Total Fixed Assets

Gross Block 10,967,340 10,961,005Less: Accumulated Depreciation 8,258,151 8,123,606Net Block 2,709,189 2,837,399

Schedule : 5

Long Term Loans and Advances

EB deposit 348,189 331,657Telephone Deposit 7,218 7,218Total Long Term Loans and Advances 355,407 338,875

Schedule : 6

Current Assets:

Closing Stock

Prospectus stock (at Cost) - 67,550

SUNDRY DEBTORS ( OTHERS)

- HQ(Net) - 3,134,897- Chapters 28,321 -

Cash and Bank Balances :

Cash - in - hand 14,327 9,898

Balances with Scheduled Banks :

On Current Account 1,079,420 738,659

Fixed Deposits :

Fixed Deposits with Nationalised Bank 191,676,590 156,847,582Accrued Interest on FDRs 6,868,370 5,798,334Total Current Assets 199,667,028 166,596,920

Schedule : 7

Short term Loans and advances

Prepaid Expenses 273,410 155,527Other Advances 15,943 18,562

Total Short Term Loans and Advances 289,353 174,089

Schedule : 8

Current Liabilities & Provisions

Library Deposit 68,400 76,000Sundry Creditors ( Other than Current A/c )

- HQ (Net) 407,972 -Other Liabilities - 200,000TDS Payable 130,281 82,332Provisions 1,011,527 1,042,028Total Current Liabilities & Provisions 1,618,180 1,400,360

B.M.Sharma Pravakar MohantyChandra Wadhwa Dhananjay V. Joshi

PARTICULARS

As at

31st March 2020

Rs.

As at

31st March 2019

Rs.

32


Schedule To Income & Expenditure Account for the year ended 31st March 2020



Current Year Previous Year

31st March 2020 31st March 2019

Rs. Rs.

INCOME :

Schedule : 9

Tuition Fees & Others

Tuition Fees

- Oral Coaching Grant 36,169,550 27,430,000- ( INCL. OF GD/BC,Industrial Orientation Training & Computer training grant)- Postal Coaching Grant 9,629,600 7,448,200Total 45,799,150 34,878,200

Schedule : 10

CEP Training Income

CEP Income - Regional Council 3,603,824 1,180,300Regional Cost Convention 3,290,103 -Total 6,893,927 1,180,300

Schedule : 11

Interest Income

Interest on Fixed Deposits 11,779,725 9,969,509Total 11,779,725 9,969,509

Schedule : 12

Grant Received from H.Q

T A Grant 332,099 500,000Students facilities & Career Councelling Grant 300,000 300,000Repairs & Maintenance Grant 291,597 461,290Total 923,696 1,261,290

Schedule : 13

Other Income

Sundry/Misc. Income 57,137 268,810Guest Room Service Charges 23,000 24,000Profit on sale of fixed assets 30,300 1,085Total 110,437 293,895

Total Income (A) (Schedule 9-13) 65,506,935 47,583,194

EXPENDITURE :

Schedule : 14

Establishment Expenses

Salaries & Allowances 10,413,698 9,124,066Employer's Contribution to Employees' Gratuity Fund 2,364,652 1,789,095Employer's Contribution to Employees' Provident Fund 964,872 875,549Employer's Contribution to Employees' Leave Encashment Fund 2,082,003 271,476Leave Encashment 41,254 196,988Medical Expenses 297,688 185,212Total 16,164,167 12,442,386

Schedule 15

Office Expenses

Travelling & Conveyance 38,381 73,206Printing & Stationery ( including Xerox Charges) 90,179 94,467Postage Charges 34,777 22,997Telephone Expenses 53,322 62,789Electricity Charges 1,005,905 1,012,490Fuel expenses for Generator 26,942 47,020Rates & Taxes 243,583 399,029Repairs & Maintenance 516,856 693,714Generator Maintenance 13,089 28,987Internal Audit Fee 75,000 75,000Bank Charges 5,203 4,254Computer Maintenance & Stationery Expenses 179,730 172,348Books & Periodicals 14,007 13,826Watch & Ward Expenses 652,903 553,295Administrative Charges 414,707 424,871Total 3,364,584 3,678,293

PARTICULARS

33


Schedule To Income & Expenditure Account for the year ended 31st March 2020


Schedule 16

CEP Training Expenses

CEP Expenses - Regional Council 2,993,684 517,526Regional Cost Convention 2,821,874 -Total 5,815,558 517,526

Schedule 17

Coaching Expenses

Honorarium to Faculty etc. - Oral 3,086,100 3,266,700Postal Coaching Exps 49,464 53,131Oral Coaching, Faculty & Academicians Meet Expenses 152,593 309,008GD/BC Training Expenses 148,526 204,217Industry Oriented Training Expenses 298,913 328,804Computer Training Expenses 1,058,300 966,150Total 4,793,896 5,128,010

Schedule 18

Statutory Audit Fee 88,500 75,000Total 88,500 75,000

Schedule 19

Council & Committee Meeting Expenses

- TA & DA for the Council Members 608,736 1,192,389- Annual General Meeting of Regional Council 89,889 65,368Total 698,625 1,257,757

Schedule 20

Professional Development Expenses

Food & Hospitality 317,386 364,951Printing,Photo/Video,Communication 622,572 800,497Travel & Conveyance 454,625 969,588Momento,Honororium,Rental charges 88,950 114,321

Total 1,483,533 2,249,357

Schedule 21

Cost of Prospectus Sold

Opening Stock of Prospectus & Publications 67,550 19,075Add: Purchase of Prospectus 349,475 471,975

417,025 491,050

Less: Closing Stock of Prospectus - 67,550Cost of Prospectus Sold 417,025 423,500

Schedule 22

Depreciation :

Furniture & Fittings 88,094 92,156Library Books 38,541 45,347Generator & Office Equipments 309,810 332,411Computers Including Software 30,816 28,526Total 467,261 498,440

Total Expenditure (B) (Schedule 14-22) 33,293,149 26,270,269

Current Year Previous Year

31st March 2020 31st March 2019

Rs. Rs.

PARTICULARS

34


34




SCHEDULE – 23

ACCOUNTING POLICIES & NOTES ON ACCOUNTS

I.ACCOUNTING POLICIES

1. Basis for preparation of Financial Statements:The Financial Statements are prepared under the historical cost convention, the Generally Accepted Accounting Principles(GAAP) in India, the applicable Accounting Standards, the relevant provisions of the Cost and Works Accountants Act, 1959,as amended and are on accrual basis unless otherwise stated.

2. Revenue Recognition:The Institute recognizes significant items of income on the following basis:-

a) Tuition and other FeesRevenue in respect of Postal and Oral Tuition Fees are recognized as and when the student is enrolled.b) Commission on Sale of Publication is recognised on completion of sale.c) Revenue from Programme and Research Fee is recognized as and when such activitiy is undertakend) Income from interest for the year due on Deposits with Banks is recognized on accrual basis taking intoaccount the amount outstanding and the applicable rate.e) Grants from HQ are recognised on receipt of confirmation from Head Quarters.f)All other incomes are recognised on receipt basis.

3. FixedAssets:Fixed assets are stated at cost less accumulated depreciation. Cost comprises the purchase price and anycost, attributableto bringing the asset to its working condition for its intended use. Assets under creationare shown as capital work-in-progress.

4. Depreciation/Amortization:Depreciation on FixedAssets is provided on written down value method as per rates prescribed in Income TaxAct, 1961

5. Investments:Investments in Fixed Deposits are stated at cost.

6. Inventory:Materials procured from Head Office and others are valued at Cost or Net Realizable Value, which is lower.

7. Employee Benefita) Contributions to Provident Fund, Family Pension Fund and Deposit Linked Insurance are accounted foron accrual basis and the liability in respect of Gratuity and Leave Encashment is recognised on thebasis ofyearly premium paid to LIC on the basis of actuarial valuation.

8. Prior Period Income / ExpenditurePrior period items which arise in the current period as a result of errors or omissions in the preparations offinancial statements in one or more prior periods are separately disclosed in the Income & ExpenditureAccount.

9.All other accounting policies are consistent with the generally accepted policies.

35




II. NOTES ONACCOUNTS1. Fixed deposits to the tune of Rs.8,92,972/- (PY - Rs.8,67,834) have been earmarked towards closing balances of

Endowment/Memorial Funds, Building Development Fund etc.,

2. The Annual Accounts for the Financial year 2019-20 with the previous year has been prepared in the format prescribedby the Head Quarters.

3. Library Deposit remaining unclaimed beyond 3 years amounting to Rs.21,200/- (PY- Rs.22,800/-)for the card nos. from2321 to 12374 has been transferred to Regional Council Fund. In the event of any refund arising in future, it will be paid

from the fund.

4. Previous year figures have been regrouped wherever necessary.







36


CASH FLOW STATEMENT FOR THE FINANCIAL YEAR 2019-2020



For the year

ended

31st March 2020

For the year

ended

31st March 2019

Rs. Rs.

A) CASH FLOW FROM / (USED IN) OPERATING ACTIVITIES

a. Net Surplus/(Deficit) before taxation and appropriations 32,809,536 21,917,925

b. Adjustments to Surplus/(Deficit):

Add: Adjustments for depreciation and amortisation expenses 467,261 498,440Less: Interest Income (11,779,725) (9,969,509)Less: Profit on sale of Old Fixed Assets (30,300) (1,085)

Total adjustments to Surplus/(Deficit) Sub-Total (b) (11,342,764) (9,472,154)

c. Operating profit before Working capital changes (a + b) 21,466,772 12,445,771

d. Adjustments for working capital

Adjustments for decrease/ (increase) in inventories 67,550 (48,475)Adjustments for decrease/ (increase) in receivables 3,106,576 (2,521,998)Adjustments for decrease/ (increase) in Short term Loans and Advances (115,264) (1,888)Adjustments for decrease/ (increase) in Long term Loans and Advances (16,532) (9,747)Adjustments for increase/ (decrease) in provisions 239,020 375,700Adjustments for increase/ (decrease) in earmarked funds 25,138 11,945

Total adjustments for working capital Sub-Total (d) 3,306,488 (2,194,463)

e. Net cash flow from/ (used in) operating activities (c + d) 24,773,260 10,251,308

B) CASH FLOW FROM/(USED IN) INVESTING ACTIVITIES :

Proceeds from sales of tangible assets 30,300 1,085Purchase of tangible assets (339,051) (139,536)Interest received 10,709,689 9,271,821Amount invested in Fixed deposits (34,829,008) (19,651,024)

f. Net cash flow from/ (used in) investing activities (24,428,070) (10,517,654)

C) CASH FLOW FROM/ (USED IN) FINANCING ACTIVITIES:

g. Net cash flow from/ (used in) financing activities - -

Net increase/(decrease) in Cash and Cash Equivalents (e + f + g) 345,190 (266,346)

Reconciliation of Cash and Cash Equivalents

Cash and Cash Equivalents at beginning of the period 748,557 1,014,903

Cash and Cash Equivalents at end of the period 1,093,747 748,557

Net increase/(decrease) in Cash and Cash Equivalents 345,190 (266,346)

Particulars

37


REGIONAL CMA CONVENTION - 2019(CHENNAI)



Income

RS.

Delegates Fees 1,129,001

Advertisements 556,328

Sponsorship 1,373,000

Total 3,058,329

Expenditure

RS.Accommodation & Travel (Speaker & Guest) 188,173Lunch, Dinner & High Tea Exp. 1,156,779Conveyance Local/Car Hire Charges 217,575Cultural Programme 57,500Decoration, BackDrop & Infrastructure 449,991Mementos For Audience & VIP 138,941Kit For Delegates 156,750Postage 8,732Printing & Stationeries 48,154Miscellaneous Exps. 43,850Souvenir Printing 87,555Press Meet 3,600Ex-Gratia To Staff 32,500Excess Of Income Over Expenditure 468,229

Total 3,058,329

38

CHAPTERS UNDER SOUTHERN REGION FOR THE YEAR 2019-20

1. Bengaluru Chapter of Cost Accountants81 MALLIKARJUNA TEMPLE STREETBASAVANAGUDI.BANGALORE 56 40 00Chairman: CMA Sreepada H.RSecretary: CMA Kumar H N

2. Bellary Chapter of Cost AccountantsSSA GOVT. FIRST GRADE DEGREE COLLEGEBELLARY – 583 101 Karnataka.

Dr. Jeelan Basha VChairman:

3. Bhadravathi-Shimoga Chapter of Cost AccttsC/o Company Secretary, VISVESVARAYA IRON &.STEEL LTD., BHADRAVATHI, SHIMOGA DIST.KARNATAKA - 5773 10Chairman: CMA V. MalghanSecretary: CMA V. Ganesan

4. Cochin Chapter of Cost AccountantsTR/64/795 CMA BHAVANJUDGES' AVENUEKALOOR, COCHIN 682 170Chairman: CMA Anil XavierSecretary: CMA Padmakumar V A

5. Coimbatore Chapter of Cost AccountantsNO 13 14 THIRD FLOOR, SFI APARTMENT,. -SATHYAMOORTHY ROAD.RAMNAGAR, COIMBATORE - 641009Chairman: CMA K RavindranSecretary: CMA C. Sanjeevi

6. Erode Chapter of Cost AccountantsSECOND FLOOR, 32,PRAKASAM STREET,ERODE - 638 001Chairman: CMA R. GopalSecretary: CMA Prabakaran D

7. Godavari Chapter of Cost Accountants46 7 16 2nd FLOOR, NEAR DANAVAIPETA PARK- - ,DANAVAIPETA, RAJAHMUNDRY 533 1 10Chairman: CMA Poluri Narayana RaoSecretary: CMA K. Sridhar

8. Hosur Chapter of Cost AccountantsR.S.COMPLEX, 51-7, DENKANIKOTTA ROAD,SHANTHI NAGAR, HOSUR- 635109Chairman: CMA M R RajhshekarSecretary: CMA Kothai Kesavan

9. Hyderabad Chapter of Cost Accountants1 2 56/44A STREET NO. 5- -HIMAYATNAGARHYDERABAD 5 2900 0Chairperson:CMA Lavanya K.V.NSecretary: CMA Khaja Jalal Uddin

10. Kottayam Chapter of Cost AccountantsRELIABLE BUILDINGS BEHIND: MAMMEN MAPPILA,HALL K.K. ROAD,,KOTTAYAM – 686 001Chairman: CMA Baby M.C.Secretary: CMA Raju P T

11. Madurai Chapter of Cost AccountantsKRV ARCADE,A.R.PLAZA, OFFICENO.P (BASEMENT) 16/17, NORTHVELI STREET, MADURAI 625 0 10Chairman: CMA S. KumararajanSecretary: CMA A.Arumugam

12 Mangalore Chapter of Cost Accountants.S D.M COLLEGE BUILDING.MAHATMA GANDHI ROADMANGALORE 575 0 30Chairman: CMA K. J. AlvaSecretary: CMA K. Sri. Padubidri Venkatagiri Rao

13 Mysuru Chapter of Cost Accountants.142 7TH CROSS0KRISHNA MURTHYPURAMMYSORE 57 40 00Chairman: CMA M. Ashok KumarSecretary: CMA Trinesha T R

14. Nellai-Pearl City Chapter of Cost Accountants38 – A ANGUVILAS BUILDINGV.K. ROAD,TIRUNELVELI JN. 627 0 10Chairman: CMA Muthukrishnan SankarSecretary: CMA A. Muthu

15. Nellore Chapter of Cost Accountants18 1 24 OLD POST OFFICE ROAD- -WAHABPET, NELLORE 524 300Chairman: CMA Veeraswamy PadidamSecretary: CMA Bhaskar A.V.V

16. Neyveli Chapter of Cost AccountantsSRI AUROBINDO VIDYALAYABLOCK 19 NEYVELI 6 78 3, 0 0Chairman: CMA V Krishnaswami

CMA R. JayasarathySecretary:



39

17. Palakkad Chapter of Cost Accountants187 (4) SEKHARIPURAM KALPATHY,PALAKKAD 678 0 30Chairman: CMA K. Aravindakshan PillaiSecretary: CMA M.K. ramakrishnan

18. Pondicherry Chapter of Cost AccountantsNo.9, FIRST FLOOR, IV CROSSANNA NAGAR, PUDUCHERRY 6 5 0 50 0Chairman: CMA Vigneshwaran. TSecretary: CMA Thananjayan. V

19. Ranipet Vellore Chapter of Cost AccountantsNo 16 BHARATHI NAGAR 3RD MAIN ROAD. ,(OPP BALAJI THEATRE) KATPADI.VELLORE – 632 700Chairman: CMA Manoharan R.Secretary: CMA Sezlian. S

20 Salem Chapter of Cost Accountants.ACCESS POINT BUILDING,5/324 THIRUGNANA SAMBANTHAR STSTATE BANK COLONY, JUNCTION MAINROAD, SALEM – 636 400Chairman: CMA KM KrishnamurthySecretary: CMA V. Krishnakumar

21. Thrissur Chapter of Cost AccountantsCMA BHAVANTC 37/1879/1 KOTTAPPURAM ROAD- ,THRISSUR 68 0 4- 0 0Chairman: CMA Sugunan.T.GSecretary: CMA Anoop. N. G

22. Tiruchirappalli Chapter of Cost AccountantsNo 48 BHARATHIDASAN SALAI, CONTONMENT,.

TIRUCHIRAPPALLI - 62 10 00Chairman: CMA Subramanian CSecretary: CMA P Manoharan

23. Trivandrum Chapter of Cost AccountantsCMA BHAWAN, TC. 22/87 V J LANEVELLAYAMBALAM TRIVANDRUM 695 010Chairman: CMA Joseph LouisSecretary: CMA Pranav Jayan

24. Ukkunagaram Chapter of Cost AccountantsCMA BHAVAN, SECTOR -6UKKUNAGARAMVISAKHAPATNAM 53 32- 0 0Chairman: CMA Subhankar GuptaSecretary: CMA Dr. Phani Kumar VVV

25 Vijayawada Chapter of Cost Accountants.

58 6 14, KARANAM GARI STREET- -MAHATHMA GANDHI ROAD PATAMATAVIJAYAWADA – 52 10 0 0Chairman: CMA P.S.R. Swamy

CMA P. VinayranjanSecretary:

26. Visakhapatnam Chapter of Cost AccountantsCMA BHAWAN D No.49 38 14/4(1). - -OPP: PORT STADIUM NH 5AKKAYYAPALAM VISAKHAPATNAM – 530 016Chairman: CMA Ramakrishna Matta

: CMA S. Ram PrasadSecretary

27. Kozhikode - Malappuram Chapter of Cost AccountantsYAMUNA ARCADE,KALLAI ROAD, PALAYAM,KOZHIKODE, KERALA - 673 001Chairman: CMA Askar Ali P.C.Secretary: CMA Adarsh K P



CHAPTERS UNDER SOUTHERN REGION FOR THE YEAR 2019-20

40



Shri. A. Sehar Ponraj, Registrar of Companies - Chennai addressing at theIndependence Day Celebration

CMA Mrs. Jyothi Satish – Chairperson addressing at theRepublic Day Celebration

Cross section of the Members at a Study Circle Meeting

Study Circle Meeting on 'Legacy Dispute Resolution Scheme 2019'



Chairperson CMA Mrs. Jyothi Satish - SIRC felicitatingShri M. Ajit Kumar, I R S, Chairman – CBEC

CMA Mrs. Jyothi Satish, Chairperson – SIRC withShri T.V. Somanathan, IAS - Expenditure Secretary, GOI.

Dr. Tirthankar Patnaik Ph.D., Chief Economist, NSE Ltd.,rendering Keynote Address.