68th ANNUAL REPORT AND AUDITED ACCOUNTS OF CIRC FOR …

68th

(1st April 2018 to 31st March 2019)(To all the members of the Central India Region)

CENTRAL INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

The 68thAnnual General Meeting of

Central India Regional Council of The Institute of Chartered Accountants of India

shall be held on

at 13th July 2019 (Saturday)

Hotel Kanha Shyam , Civil Lines, Prayagraj at 09:00 am.

(1st April 2018 to 31st March 2019)(To all the members of the Central India Region)

CENTRAL INDIA REGIONAL COUNCIL OF

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA

68th Annual Report

Notice

1. To receive the 68th Annual Report of the Central India Regional Council of ICAI, for the year 2018-2019.

2. To receive the Auditor’s Report and Audited Accounts of the Central India Regional Council of ICAI for the year ended 31st March, 2019 and

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

Date : Place: Kanpur

03.06.2019

Sd/-

CA. Abhisak PandeySecretary CIRC

Not ice is hereby given that 68th Annual General Meet ing of Centra l India Regional Counci l of the Institute of Chartered Accountants of India will be held on 13th July 2019 (Saturday) at Hotel Kanha Shyam , Civil Lines, Prayagrajat 09:00 am.

For & on behalf of Central India Regional Council ofThe Institute of Chartered Accountants of India

Dear Members,

Central India Regional Council of the Institute of Chartered Accountants of India has immense

pleasure in presenting its 68th Annual Report and Accounts for the year ended 31st March 2019 together with Auditors’ Report thereon.

► Meetings: During the year 2018-2019 CIRC held meetings on following dates.

S.No. Meeting name Date Place

1 8th Regional Council Meeting of 22nd CIRC 23.04.2018 Kanpur

Kanpur

Kanpur

Kanpur

12.06.2018

16.01.2019

28.02.2019

6th Executive Committee Meeting of 22nd CIRC

9th Regional Council Meeting of 22nd CIRC

1st Regional Council Meeting of 23rd CIRC

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4

3

► Members: The total number of members in the Region as on 31st March 2019 was 50804 as compared to 48135 as on 31st March 2018. Hence, there is an increase of 2669 Members during the year.

► Committee: CIRC constituted various Standing and Non Standing Committees to discuss andcontribute on matters relating to the members, its branches and the profession.

68th Annual Report

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AMBIKAPUR CHHINDWARA RAIGARH

BALOTRA KATIHAR REWA

BANSWARA KATNI SATNA

BARMER KHARGONE SHAHJAHANPURBHAGALPUR KORBA

BHIWADI MANDSAUR

BOKARO STEEL CITY MIRZAPUR

BALAGHAT

DHAMTARI

KHANDWA

BASTI

DUASA

NAJIBABAD

RAE BARELI

BETUL

DUMKA

HANUMANGARH

NEEMUCH

SAGAR

BHARAICH

FAIZABAD

JAGDALPUR

PILIBHIT

SHAHDOL

BINA

GIRIDIH

JAISALMER

BURHANPUR

GONDA

JALORE

DEOGHAR

GUNA

AGRA BULANDSHAHR JHANSI RANCHI

AJMER CHITTORGARH JODHPUR RATLAM

ALIGARH DEHRADUN KISHANGARH SAHARANPUR

ALLAHABAD DHANBAD KOTA SIKAR

ALWAR GHAZIABAD LUCKNOW SRIGANGANAGAR

BAREILLY GORAKHPUR MATHURA UDAIPUR

BEAWAR GWALIOR MEERUT UJJAIN

BHARATPUR HALDWANI MORADABAD VARANASI

BHILAI HARIDWAR MUZAFFARNAGAR

BHILWARA INDORE NOIDA

BHOPAL JABALPUR PALI

BIKANER JAIPUR PATNA

BILASPUR JAMSHEDPUR RAIPUR

► Annual General Meeting: The 67th Annual General Meeting of the members of the Central Regionwas held on 25th July 2018 (Wednesday) at the Mathura.

► CIRC Branches: As on 31.03.2019 there are 47 Branches of CIRC at given below places in the Central Region. CIRC has a privilege of having the highest number of branches among other Regional Councils of the Institute.

► CPE Chapters: As on 31.03.2019 there are 18 CPE Chapters in the Central Region to carry out theCPE activities for the benefit of the members.

► CPE Study Groups: As on 31.03.2019 there are 25 CPE Study Groups in the Central Region to carryout the CPE activities for the benefit of the members.

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CPE activities for the benefit of the members. CPE Study Circles: At present there are 7 CPE Study Circles in the Central Region to carry out the

► ITT Centers: At present almost all the Branches of CIRC is equipped with ITT Centers.

► Examination Centers: At present there are 64 Examination Centers in our Region :

FIROZABAD STUDY CIRCLE JAIPUR CENTRAL STUDY CIRCLE

JAIPUR SIKAR ROAD STUDY CIRCLE KCAS STUDY CIRCLE

JAIPUR M I ROAD STUDY CIRCLE TRANS -HINDON CPE STUDY CIRCLE- GHAZIABAD

MANSAROVAR CPE STUDY CIRCLE

UDAIPUR

UJJAIN

BHARATPUR

BHILAI

MORADABAD

VARANASI

MUZAFFARNAGAR

BHILWARA

INDORE

NOIDA

BHOPAL

JABALPUR

PALI

JAIPUR

JAMSHEDPUR

AGRA JHANSI

RANCHI

AJMER

CHITTORGARH

JODHPUR

RATLAM

ALIGARH KISHANGARH

SAHARANPUR

ALLAHABAD DHANBAD KOTA

SIKAR

ALWAR GHAZIABAD LUCKNOW

SRIGANGANAGAR

BAREILLY GORAKHPUR MATHURA

BEAWAR GWALIOR MEERUT

BIKANER PATNA

BILASPUR RAIPUR

► Branches of CA Students’ Association: At present there are following 43 Branches of CICASA :

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AGRA JHANSI

JHUNJHUNU

RANCHI

AJMER

CHITTORGARH

CHURUJODHPUR

KANPUR RATLAM

REWA

ALIGARH

DEHRADUN KISHANGARH

SAHARANPUR

SATNA

ALLAHABAD

DHANBADDURG

FIROZABAD

KOTA

SIKAR

SIROHI

ALWAR

AMBIKAPUR

BALOTRA

BANSWARAGHAZIABAD

LUCKNOW

MANDSAUR

SRIGANGANAGAR

BAREILLYGORAKHPUR

MATHURA

UDAIPUR

BEAWARGWALIOR

MEERUT

UJJAINBHARATPUR

BHAGALPURHALDWANI

MORADABAD

VARANASIHARIDWARMUZAFFARNAGAR

MUZZAFARPUR

NEEMUCH

BHILWARAINDORE

NOIDABHOPAL

JABALPUR

PALI BIKANER

JAIPUR

PATNABILASPUR

BUNDI

BURHANPUR

CHHINDWARA

JAMSHEDPUR

RAIPUR

RAIGARH

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► Programmes & Activities: The Central India Regional Council together with its Branches, CPE Chapters, and Study Groups organized Conferences, Sub Regional Conferences, Residential Refresher Course, Workshops, and Study Circle Meetings on the topics of professional interest for the benefit of its members. Besides the academic programmes and various other programmes like celebration of Independence Day, Yoga Day, RRC, IRRC, CA Day Celebrations and health check up camp of members etc. were organised.

► More Informative CIRC Website www.circ-icai.org: CIRC Web site has been updated to be moreinformative and user friendly.

► CIRC E- Newsletter: This year also CIRC adopted Electronic Platform to produce its Newsletter throughout the year with articles on the topics of professional interest. Direct and Indirect Taxes Updates, Union Budget, information about the branches and its activities, cartoon corner and important information related to the members and students. The newsletter is sent to all the members of the Central Region through email and the same is also hosted in the CIRC Website.

► CPE Programmes: During the period CIRC has organized 383 approx CPE hours programmes all over the Central Region for updating the knowledge and skills of the members including various National Level, Sub Regional Conference, Full Day Seminars, Half Day Seminars, Workshops, Residential Refresher Courses etc.

► Campus Interview: During the period Campus Interview were conducted in 14th & 15th September 2018,4th January 2019 at Kanpur, successfully for newly qualified CA’s. Renowned companies of the country have participated in the Campus programme and given opportunities to newly qualified Chartered Accountants.

► 39th Regional Conference of CIRC: Was held at Ghaziabad on 18th & 19th August 2018 on theme “PRAKALP - 2018 - Beginning of New Era” Topics were – Implications of unexplained assets under Income Tax Law, Benami Law - Multiple Proceedings & Prosecution, Challenges & Opportunities in Ind AS, Special Session on Life Management, panel discussion on “The Evolution of The Role of CA in The Revolution of The Indian Economy-Opportunities & Challenges”, GST Audit - intricacies and implications, reporting under in company law & NFRA, GSTN - operational challenges & resolution. The participation of the conference was more than 700 Members

► Course on General Management & Communication Skills(GMCS/AICITSS-MCS): During the period CIRC, Kanpur has organized Following Batches of GMCS/AICITSS-MCS:

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GMCS BatchNo.

No of Participant

MCS BATCH 5

MCS BATCH 6

MCS BATCH 7

MCS BATCH 8

MCS BATCH 9

MCS BATCH 10

MCS BATCH 12

MCS BATCH 11

48

60

49

59

57

59

34

44

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LARGE & MEGA CATEGORY

BEST BRANCH AWARDS OF CIRC FOR THE YEAR 2018

MICRO CATEGORY

SMALL CATEGORY

1

1

Best Branch of CIRC in Micro category

Best Branch of CIRC in Small category

Best Branch of CIRC in Medium category

Highly Commended Branch of CIRC in Medium category

Highly Commended Branch of CIRC in Small category

Haldwani

Bhilai

Bulandshahar

Bilaspur

Highly Commended Branch of CIRC in Micro category2

2

MEDIUM CATEGORY

1

2

RanchiPatna

Best Branch of CIRC in Large & Mega category

Highly Commended Branch of CIRC in Large & Mega category1

2

IndoreAgra

BEST CICASA BRANCH AWARDS OF CIRC FOR THE YEAR 2018

SMALL CATEGORY

MEDIUM CATEGORY

1

1

Best CICASA Branch of CIRC in Small category

Best CICASA Branch of CIRC in Medium category

Best CICASA Branch of CIRC in Large & Mega categoryHighly Commended CICASA Branch of CIRC in Large & Mega category

Highly Commended CICASA Branch of CIRC in Medium category

Bhilai

Ranchi

Bilaspur

Varanasi

Highly Commended CICASA Branch of CIRC in Small category 2

2

LARGE & MEGA CATEGORY

1

2

RaipurBhopal

► Course on IPCC/PCC Orientation): During the period CIRC has organized 7 batches of IPCC/PCC Orientation Classes organized at CIRC Kanpur benefitting around 314 students.

► CIRC Official Directory – 2018: CIRC has published its Official Directory - 2018 which contains name,addresses, mobile nos’, email ids of all the Regional Council Members and Central Council Membersof Central Region as well as all Managing Committee of Branches of CIRC, CPE Chapters, CPE StudyGroups, CPE Study Circles, and Officials of Kanpur Office.

► Blood Donation Camp: CIRC took the initiative of conducting Blood Donation drive in on 1st July2018, on the occasion of CA Day.

► S. Vaidyanath Aiyer Memorial Lecture – 2018: S. Vaidyanath Aiyar Memorial Lecture was organized

at Jaipur Branch of CIRC on 19.05.2018 at Jaipur. ► Capacity Building of SME’s: CIRC has also taken initiatives to organize the programmes at CIRC

Level as well as Branch Level for Small & Medium enterprises and thereby for the benefit of the Members of Central Region.

► Programmes with other professional institutions: During the period CIRC and Branches have conducted various programs on the topics of professional interest jointly with other professional bodies.

► Best Branch Awards–2018: CIRC conferred the following awards to the branches on 23rd February 2019, at 14th Annual Function of CIRC at Varanasi.

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For and on behalf ofCentral India Regional Council of ICAI

CA. Abhisak PandeySecretary- CIRC of ICAIPlace: KanpurDated:

Sd/-

03.06.2019

► CIRC Expert Panel on Bank Audit: CIRC as an endeavor to extend a helping hand to all our members during the process of carrying out Bank Audits had set up a Panel of Experts in Bank Audits which comprises of Members having an expert knowledge on Bank Audits, extending their help on voluntary basis and resolving querries of the Members.

► Post Qualification Courses: Two ISA Batch were organised on 06.09.18 and 23.02.19 in which 67 members participated. Apart from this many CIRC Branches are also conducting the Post Qualification Courses.

► CIRC Library: An updated library is operational at ICAI Lakhanpur, Kanpur for the benefit of the members and students. The library is fully air conditioned.

► Students Activities: During the period various Seminars, Half Day Seminars, Cultural Programmes, Workshops, Industrial Visits, National Convention, National Conclave and other programmes wereorganized for CA Students in various POU of CIRC.

► National Talent Hunt (Elocution/Quiz Contest / Nukkad Drama/ Instrumental Music): National Talent Hunt (Elocution/Quiz Contest / Nukkad Drama/ Instrumental Music (Branch Level) was organised at Kanpur on 05.06.2018 and 06.06.2018 and National Talent Hunt (Elocution/Quiz Contest / Nukkad Drama/ Instrumental Music (Regional Level) was organised on 19.06.2018 and 20.06.2018 at Indore.

► CIRC Coaching Classes: The Classes for Foundation were organized at Kanpur in the Month of June2018.

► Reading Room: Reading room facility for the benefit of the students is being provided.

► Finance & Accounts: The Audited Balance Sheet as on year ending 31st March 2019 and the Income & Expenditure Account for the year ended on that date together with the Auditors Report thereon are annexed hereto.

► Appreciation: CIRC places on record its sincere thanks and gratitude to the various Chief Ministers, Ministers of the country, President, Vice President and Secretary of the Institute, all Council Members of the Institute, past Council Members, Office bearers and Members of the Managing Committee of the Branches of CIRC, Conveners of CPE Chapters, Study Circles, & Study Groups of CIRC for their support and encouragement throughout the period. The Regional Council places on record its appreciation and thanks to the various companies and organizations that have lent their support in holding activities in the Region. The Regional Council sincerely expresses thanks to the dignitaries, guests, faculties who have graced the Programmes; the speakers at various programmes organized by the CIRC, members of the Central Region, Bankers, and auditors for the continuous cooperation, assistance and guidance. In conclusion, CIRC places on records its appreciation to all the officers and staff members of CIRC for their sincere and dedicated services.

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INDEPENDENT AUDITOR'S REPORT

To: The Council of the Institute of Chartered Accountants of India

Report on the Financial Statements

We have audited the accompanying financial statements of Central India Regional Council of the Institute of Chartered Accountants of India ("the Institute"), which comprise the Balance Sheet as at March 31, 2019, the Statement of Income and Expenditure for the year ended, and a summary of significant accounting policies and other explanatory information (herein after referred to as “Financial Statements’’).

Management's Responsibility for the Financial Statements

The Management is responsible for the preparation of these Financial Statements in accordance with The Chartered Accountants Act, 1949 that give a true and fair view of the financial position, financial performance of the Central India Regional Council of the Institute in accordance with the accounting principles generally accepted in India, including the Accounting Standards issued by the Institute. This responsibility also includes maintenance of adequate accounting records for safeguarding of the assets of the Institute and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonab le and p rudent ; and des ign , implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute. Those Standards require that we comply with ethical requirements and plan and perform the audit

to obtain reasonable assurance whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors' consider internal control relevant to the Institute's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on whether the Institute has in place an adequate internal control system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements for the year ended March 31, 2019 are prepared in all material respects in accordance with the Chartered Accountants Act, 1949, and give a true and fair view in conformity with the accounting principles generally accepted in India of the state of affairs of the Central India Regional Council of the Institute as at March 31, 2019, its surplus for the year ended on that date.

Other Matters

We draw attention to Note no 4 and Note no 5 which describes the provision for obsolete and non moving stock has not been made in the books of accounts as the same would be dealt with at ICAI

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INDEPENDENT AUDITOR'S REPORT

c) the Balance Sheet and Statement of Income and Expenditure dealt with by this Report are in agreement with the books of account.

d) in our opinion, the Balance Sheet, Income and Expenditure Account comply with the relevant Accounting Standards.

Head Office while consolidation of accounts of the institute and no provision has been made for liability towards Gratuity, Pension & Leave Encashment as the same is made at the ICAI Head Office while consolidation of accounts of the institute. Our Opinion is not qualified in respect of this matter.

Report on Other Regulatory Requirements

Further, we report that:

a) we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;

b) in our opinion proper books of account as required by Chartered Accountant Act, 1949 have been kept by the Central India Regional Council of the Institute so far as appears from our examination of those books.

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For Gupta & Shah.Chartered AccountantsFirm's Reg. Number : 001416C

( CA. Sharad Kumar Shah )Partner

Membership Number . 70601

Sd/-

Place: Kanpur

Date : 09.05.2019

09

THE INSITUTE OF CHARTERED ACCOUNTANTS OF INDIA BALANCE SHEET AND INCOME & EXPENDITURE STATEMENT AS ON 31.03.2019

CENTRAL INDIA REGIONAL COUNCIL OF ICAI.

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S No Category PARTICULARS Schedule 31.03.2019 31.03.2018

A) Income INCOME

1 Income Entrance Fee 0.00 0.00

2 Income Associate Membership Fees 0.00 0.00

3 Income Fellow Membership Fees 0.00 0.00

4 Income COP Holder Membership Fees 0.00 0.00

5 Income Others Membership Fees 0.00 0.00

6 Income Students Registration Fees 0.00 0.00

7 Income Students Association Fees 0.00 0.00

8 Income Distance Education 0.00 0.00

9 Income Class Room Training Income-GMCS 2665000.00 1252000.00

10 Income Class Room Training Income-ITT 0.00 0.00

11 Income Class Room Training Income-Coaching 336000.00 408000.00

12 Income Examniation Fee 0.00 0.00

13 Income Seminar income- Members J 522375.00 3178665.20

14 Income Seminar income- Students J 0.00 169112.00

15 Income Seminar income- Non members 0.00 0.00

16 Income Post Qualification Courses Fees 0.00 0.00

17 Income Certificate Courses Fees 0.00 0.00

18 Income Members Journal 0.00 0.00

19 Income Students Journal 0.00 0.00

20 Income Journal Advertisement -CIRC Newsletter 0.00 0.00

21 Income Interest Received on Investment 1976744.15 1287468.06

22 Income Interest Received on Bank Deposit 250053.00 226961.06

22A Income Interest Received on Staff Loan 0.00 0.00

23 Income Interest Received on Earmarked Funds-Education Fund 0.00 0.00

24 Income Interest Received on Earmarked Funds-Research Fund 0.00 0.00

25 Income Interest Received on Earmarked Funds-Medal & prizes Fund 0.00 0.00

26 Income Interest Received on Earmarked Funds-Accounting Research Building Fund 0.00 0.00

27 Income Interest Received on Earmarked Funds-Student Scholarship Fund 0.00 0.00

28 Income Interest Received on Earmarked Funds-Employees Benevolent Fund 0.00 0.00

29 Income Interest Received on Earmarked Funds-Other Earmarked funds Invt 0.00 0.00

30 Income Publication Income 0.00 0.00

31 Income Publication Free issue 0.00 0.00

32 Income E-Learning Income 0.00 0.00

33 Income Campus Interview Income 0.00 0.00

34 Income Provision No Longer required W/Back 0.00 0.00

35 Income Expert Advisory Fees 0.00 0.00

36 Income Students Association Income 0.00 0.00

37 Income Election Income 0.00 0.00

38 Income Other Income K 114.00 272.00

39 Income Prior Period Income 0.00 0.00

40 Income Branch Transfer out 0.00 0.00

TOTAL 5750286.15 6522478.32

Central India Regional Council of

The Institute of Chartered Accountants of India,

16/77B Civil Lines, Kanpur-208001

B) Expenditure EXPENDITURE

1 Expenditure Salary, Pension & Others Allowances L 6737591.50 5318789.00

2 Expenditure Contribution Provident Fund & Others L 528857.00 480128.00

3 Expenditure Staff Welfare Expenses L 24702.00 24625.00

4 Expenditure Printing And Stationery 46807.26 67780.64

5 Expenditure Publication Expenses - CIRC Newsletter 0.00 0.00

6 Expenditure Consumables Items Expenses 0.00 0.00

7 Expenditure Publication Expenses-Printing 0.00 0.00

8 Expenditure Seminar Expenses-Members J 283995.44 2749452.38

9 Expenditure Seminar Expenses-Students J 1995.00 168032.00

10 Expenditure Students Acttiveity Expenses 0.00 0.00

11 Expenditure E-learning Expenses 0.00 0.00

12 Expenditure Postage & Telephone 15131.00 13928.00

13 Expenditure Rent, Rate & Taxes 197829.00 235565.00

14 Expenditure Travelling & Conveyance - Member 1240555.58 902692.68

15 Expenditure Travelling & Conveyance - Staff 58398.00 29612.00

16 Expenditure Overseas - Travelling 0.00 0.00

17 Expenditure Overseas - Others 0.00 0.00

18 Expenditure Repairs & Maintenance 45400.00 0.00

19 Expenditure Internet & Web Maintenance Charges 0.00 0.00

20 Expenditure Professional Fees Paid to Consultants & Examiners 0.00 0.00

21 Expenditure Orientation Expenses 0.00 0.00

22 Expenditure GMCS Expenses 1287037.00 389315.00

23 Expenditure ITT Expenses 0.00 0.00

24 Expenditure Coaching Class Expenses 242331.00 421948.00

25 Expenditure Election Expenses 0.00 0.00

26 Expenditure Advertisement 0.00 0.00

27 Expenditure Transportation Charges 0.00 0.00

28 Expenditure Campus Interview Expenses 0.00 0.00

29 Expenditure Meeting Expenses 32562.00 0.00

30 Expenditure Merit Scholarship 0.00 0.00

31 Expenditure Audit fees-Statutory 58000.00 58000.00

32 Expenditure Audit Fees-Internal 0.00 0.00

33 Expenditure Payments from Earmarked Funds-Education Fund 0.00 0.00

34 Expenditure Payments from Earmarked Funds-Research Fund 0.00 0.00

35 Expenditure Payments from Earmarked Funds-Medal & prizes Fund 0.00 0.00

36 Expenditure Payments from Earmarked Funds-Accounting Research Building Fund 0.00 0.00

37 Expenditure Payments from Earmarked Funds-Student Scholarship Fund 0.00 0.00

38 Expenditure Payments from Earmarked Funds-Employees Benevolent Fund 0.00 0.00

39 Expenditure Payments from Earmarked Funds-Other Earmarked funds 0.00 0.00

40 Expenditure Lunch/Dinner Expenses on Official Occasion 0.00 0.00

41 Expenditure Depreciation D 79507.00 140969.00

42 Expenditure Provision for Doubtful Debts and Advance 0.00 0.00

43 Expenditure Others Expenses M 27031.44 84526.46

44 Expenditure Prior Period Expenses 0.00 0.00

45 Expenditure Students Association Expenses 0.00 0.00

46 Expenditure Branch Transfer In 0.00 0.00

TOTAL 10907730.22 11085363.16

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C) Income Inter-Unit for I&E

1 Income Revenue Grant-DCO 0.00 0.00

2 Income Revenue Grant-RC 7000000.00 5823542.00

3 Income Membership Fee Grant 2233260.00 1956260.00

4 Income Staff & Admin Exp Grant 0.00 0.00

5 Income Branch Administration Grant 314500.00 311000.00

6 Income Public Relations Grant 0.00 0.00

7 Income Students Association Grant 0.00 0.00

8 Income Students Activity Grant 137500.00 0.00

9 Income Audit Fee Grant 58000.00 52500.00

10 Income Special Grant 0.00 0.00

11 Income Adhoc Grant 0.00 0.00

12 Income BOS Related Grants Grant 0.00 0.00

13 Income Members Program Grant 0.00 0.00

14 Income Commission on Publication 3260.00 130315.00

15 Income Incentive for Study Material 0.00 0.00

16 Income Commission on Exam Forms 0.00 0.00

17 Income Income Support Services 0.00 0.00

18 Income Expense Support Services 0.00 0.00

Income/Exp TOTAL 9746520.00 8273617.00

Income/Exp SURPLUS/DEFICIT 4589075.93 3710732.16

Liabilities LIABILITIES

D-1) Liabilities Rrserve

1 Liabilities Infrastructure Reserve-Opening Balance 0.00 0.00

2 Liabilities Building Donations recd for Branches 0.00 0.00

3 Liabilities Building Donations-Utilization 0.00 0.00

4 Liabilities Infrastructure Reserve-Additions 0.00 0.00

5 Liabilities Infrastructure Reserve-Utilization 0.00 0.00

6 Liabilities Admission Fees & Allocated Entrance Fees 0.00 0.00

7 Liabilities Trf From/to Infrastructure Reserve 0.00 0.00

8 Liabilities Infrastructure Reserve-Trf From Earmarked 0.00 0.00

9 Liabilities Infrastructure Reserve-Closing Balance 0.00 0.00

10 Liabilities Education Reserve-Opening Balance 0.00 0.00

11 Liabilities Education Reserve-Additions 0.00 0.00

12 Liabilities Education Reserve-Utilization 0.00 0.00

13 Liabilities Education Reserve-Trf From Earmarked 0.00 0.00

14 Liabilities Education Reserve-Closing Balance 0.00 0.00

15 Liabilities General Reserve-Opening Balance 23341139.64 10782810.80

16 Liabilities P&L TRF to GR A/c 4589075.93 3710732.16

17 Liabilities ADD/LESS:SURPLUS/DEFICIT 0.00 0.00

18 Liabilities Profit & Loss A/c ( Diff. in Op Balances ) 0.00 0.00

19 Liabilities General Reserve-Appropriation of I&E 0.00 0.00

20 Liabilities General Reserve Balance 27930215.57 14493542.96

21 Liabilities General Reserve-Additions 0.00 0.00

22 Liabilities General Reserve-Utilization 0.00 0.00

23 Liabilities Trf From/to General Reserve 0.00 0.00

24 Liabilities General Reserve-Trf From Earmarked 0.00 8847596.68

25 Liabilities General Reserve-Closing Balance A 27930215.57 23341139.64

26 Liabilities Other Reserves-Opening Balance 0.00 0.00

27 Liabilities Other Reserves-Additions 0.00 0.00

28 Liabilities Other Reserves-Utilization 0.00 0.00

29 Liabilities Trf From/to Other Reserve 0.00 0.00

30 Liabilities Other Reserve-Trf From Earmarked 0.00 0.00

31 Liabilities Other Reserves-Closing Balance 0.00 0.00

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D-2) Liabilities EARMARKED FUNDS

1 Liabilities Other Earmarked Funds-Opening Balance 101435.26 8458076.92

2 Liabilities Income from Interest Other Earmarked Funds 11952.66 490955.02

3 Liabilities Payments from Other Earmarked funds 0.00 0.00

4 Liabilities Other Earmarked Funds-Contribution 0.00 0.00

5 Liabilities Other Earmarked Funds-Trf to General Reserve 0.00 8847596.68

6 Liabilities Other Earmarked Funds-Closing Balance B 113387.92 101435.26

7 Liabilities Education Fund-Opening Balance 0.00 0.00

8 Liabilities Education Fund-Appropriation of I&E 0.00 0.00

9 Liabilities Education Fund-Contribution 0.00 0.00

10 Liabilities Income from Interest Education Funds 0.00 0.00

11 Liabilities Payments from Education Funds 0.00 0.00

12 Liabilities Education Fund-Trf From General Reserve 0.00 0.00

13 Liabilities Education Fund-Closing Balance 0.00 0.00

14 Liabilities Research Fund-Opening Balance 0.00 0.00

15 Liabilities Research Fund-Contribution 0.00 0.00

16 Liabilities Income from Interest Research Funds 0.00 0.00

17 Liabilities Payments from Research Funds 0.00 0.00

18 Liabilities Research Fund-Trf From General Reserve 0.00 0.00

19 Liabilities Research Fund-Closing Balance 0.00 0.00

20 Liabilities Medal & prizes Fund-Opening Balance 0.00 0.00

21 Liabilities Medal & Prizes Fund-Contribution 0.00 0.00

22 Liabilities Income from Interest Medal & prizes Funds 0.00 0.00

23 Liabilities Payments from Medal & prizes Funds 0.00 0.00

24 Liabilities Medal & Prizes Fund-Trf From General Reserve 0.00 0.00

25 Liabilities Medal & prizes Fund-Closing Balance 0.00 0.00

26 Liabilities Accounting Research Building Fund-Opening Balance 0.00 0.00

27 Liabilities Accting Research Building Fund-Contribution 0.00 0.00

28 Liabilities Income from Interest Accounting Research Building Funds 0.00 0.00

29 Liabilities Payments from Accounting Research Building Funds 0.00 0.00

30 Liabilities Acctng Research Bldg Fund-Trf From General Reserve 0.00 0.00

31 Liabilities Accounting Research Building Fund-Closing Balance 0.00 0.00

32 Liabilities Student Scholarship Fund-Opening Balance 0.00 0.00

33 Liabilities Student Scholarship Fund-Contribution 0.00 0.00

34 Liabilities Income from Interest Student Scholarship Funds 0.00 0.00

35 Liabilities Payments from Student Scholarship Funds 0.00 0.00

36 Liabilities Student Scholarship Fund-Trf From General Reserve 0.00 0.00

37 Liabilities Student Scholarship Fund-Closing Balance 0.00 0.00

38 Liabilities Employees Benevolent Fund-Opening Balance 0.00 0.00

39 Liabilities Emp Benevolent Fund-Appropriation of I&E 0.00 0.00

40 Liabilities Emp Benevolent Fund-Contribution 0.00 0.00

41 Liabilities Income from Interest Emp Benevolent Funds 0.00 0.00

42 Liabilities Payments from Emp Benevolent Funds 0.00 0.00

43 Liabilities Emp Benevolent Fund-Trf From General Reserve 0.00 0.00

44 Liabilities Employees Benevolent Fund-Closing Balance 0.00 0.00

Liabilities RESERVE AND FUND TOTAL 28043603.49 23442574.90

13




E) Liabilities Fee Received in Advance

1 Liabilities FRA-Distant Education Fee 0.00 0.00

2 Liabilities FRA-Membership Fee 0.00 0.00

3 Liabilities FRA-Examination Fees 0.00 0.00

4 Liabilities FRA-Journal Subscription 0.00 0.00

5 Liabilities FRA- Seminar & Others 0.00 0.00

6 Liabilities FRA-GMCS, ITT, Coaching & Orientation Courses 0.00 0.00

7 Liabilities FRA-Certificate Courses 0.00 0.00

8 Liabilities FRA-Post Qualification Courses 0.00 0.00

Liabilities Total Fee Received in Advance-Short Term 0.00 0.00

9 Liabilities FRA-Distant Education Fee-Long Term 0.00 0.00

10 Liabilities FRA-Membership Fee-Long Term 0.00 0.00

11 Liabilities FRA-Examination Fees-Long Term 0.00 0.00

12 Liabilities FRA-Journal Subscription-Long Term 0.00 0.00

13 Liabilities FRA- Seminar & Others-Long Term 0.00 0.00

14 Liabilities FRA-GMCS, ITT, Coaching & Orientation Courses-Long Term 0.00 0.00

15 Liabilities FRA-Certificate Courses-Long Term 0.00 0.00

16 Liabilities FRA-Post Qualification Courses-Long Term 0.00 0.00

Liabilities Total Fee Received in Advance-Long Term 0.00 0.00

Liabilities Total Fee Received in Advance 0.00 0.00

F) Liabilities Current/Non Current Liabilites

1 Liabilities Direct Tax 0.00 0.00

2 Liabilities Indirect Tax 0.00 0.00

3 Liabilities Labour Laws 0.00 0.00

4 Liabilities Provision for Employee Benefits-Leave Encashment 0.00 0.00

5 Liabilities Provision for Employee Benefits-Gratuity 0.00 0.00

6 Liabilities Provision for Employee Benefits-Pension 0.00 0.00

7 Liabilities Creditors For Exp-Capital Items 0.00 0.00

8 Liabilities Creditors For Exp-Non Capital Items - CICASA 1178170.00 1178170.00

9 Liabilities Creditors For Exp- Payable to Katni CPE Study Chapter 21186.00 0.00

10 Liabilities Deposits - Joint Account 11630.00 5397.00

11 Liabilities Provision for Liability 1342542.00 384550.00

12 Liabilities Suspense Account 0.00 0.00

Liabilities Total Current Liabilites 2553528.00 1568117.00

13 Liabilities Direct Tax-Non Current 0.00 0.00

14 Liabilities Indirect Tax-Non Current 0.00 0.00

15 Liabilities Labour Laws-Non Current 0.00 0.00

16 Liabilities Provision for Employee Benefits-Leave Encashment-Non Current 0.00 0.00

17 Liabilities Provision for Employee Benefits-Gratuity-Non Current 0.00 0.00

18 Liabilities Provision for Employee Benefits-Pension-Non Current 0.00 0.00

19 Liabilities Creditors For Exp-Capital Items-Non Current 0.00 0.00

20 Liabilities Creditors For Exp-Non Capital Items-Non Current 0.00 0.00

21 Liabilities Provision for doubtful debts & Advance-Non Current 0.00 0.00

22 Liabilities Library Deposits-Non Current 110500.00 113500.00

23 Liabilities Other Liability-Non Current 0.00 0.00

Liabilities Total Non Current Liabilites 110500.00 113500.00

Liabilities Total Current/Non Current Liabilites Total C 2664028.00 1681617.00

14




G) Liabilities Inter-Unit Balance Liabilites

1 Liabilities Publication Current A/c 22461.26 10000.26

2 Liabilities Publication Stock Transfer-A 4665120.00 4588720.00

3 Liabilities Pubn Receivable A/c 0.00 0.00

4 Liabilities Exam Form Current A/c 0.00 0.00

5 Liabilities Current Account - ICAI 0.00 3357409.74

6 Liabilities Current Account - D.O. Kanpur 151689.94 738425.94

7 Liabilities Capital Grant 5454603.30 5454603.30

8 Liabilities Library Grant 0.00 0.00

9 Liabilities Building Grant 0.00 0.00

10 Liabilities ITT Centre Grant 0.00 0.00

11 Liabilities Reading Room Grant 0.00 0.00

12 Liabilities Advance for Programs 0.00 0.00

13 Liabilities Notional Transfer A/C 0.00 0.00

14 Liabilities Remittance to Head Office 0.00 0.00

15 Liabilities Income Trf Control A/c 0.00 0.00

Liabilities INTER UNIT BALANCES TOTAL 10293874.50 14149159.24

Liabilities TOTAL 41001505.99 39273351.14

Assets ASSETS

H) Assets Fixed Assets

1 Assets Land Leasehold 0.00 0.00

2 Assets Land Freehold 0.00 0.00

3 Assets Building 0.00 0.00

4 Assets Tangible Assets 656896.57 736403.57

5 Assets Intangible Assets 0.00 0.00

Assets Fixed Assets Total D 656896.57 736403.57

Assets Building WIP Account 0.00 0.00

I) Assets Investments

1 Assets Earmarked Investment Short Term 113387.92 101435.26

2 Assets Fixed Deposits with Banks Short Term 30802210.68 28991825.13

3 Assets Investment in Govt Securities Short Term 0.00 0.00

4 Assets Investment in PSU Bonds/Securities Short Term 0.00 0.00

5 Assets General Investment Short Term 0.00 0.00

Investments-Short Term 30915598.60 29093260.39

1 Assets Earmarked Investment Long Term 0.00 0.00

2 Assets Fixed Deposits with Banks Long Term 0.00 0.00

3 Assets Investment in Govt Securities Long Term 0.00 0.00

4 Assets Investment in PSU Bonds/Securities Long Term 0.00 0.00

5 Assets General Investment Long Term 0.00 0.00

Investments-Long Term 0.00 0.00

Assets Investments Total E 30915598.60 29093260.39

15




DIFFERENCE 0.00 0.00

16

J) Assets Current/Non-Current Assets

1 Assets Publication Stock 0.00 0.00

2 Assets Opening Stock 0.00 0.00

3 Assets Publication Stock Transfer-L 4665120.00 4588720.00

4 Assets Consumables Stock 0.00 0.00

5 Assets Interest Accrued-Fixed Deposits with Banks_Current 0.00 0.00

5A Assets Interest Accrued-Investment_Current 0.00 0.00

6 Assets Interest Accrued-Staff_Current 0.00 0.00

7 Assets Interest Accrured on Earmarked Funds_Current 0.00 0.00

8 Assets Loans to Staff_Current 0.00 0.00

9 Assets TDS Receivable Account_Current 166358.60 0.00

10 Assets Security Deposit_Current 0.00 0.00

11 Assets Advance to Party_Current 0.00 0.00

12 Assets Advance to Employees_Current G 25000.00 224750.00

13 Assets Advance to Council Member_Current 0.00 0.00

14 Assets Customer Accounts_Current 0.00 0.00

15 Assets Other Receivable_Current F 515000.00 765000.00

16 Assets GST on Advance (output IGST) 0.00 0.00

17 Assets Prepaid Expenses 0.00 0.00

18 Assets Cash In Hand H 3605.50 3115.50

19 Assets Cash at Bank H 2382961.16 3861993.68

Assets Total Current Assets 7758045.26 9443579.18

19 Assets Interest Accrued-Fixed Deposits with Banks_Non-Current 0.00 0.00

19A Assets Interest Accrued-Investment_Non-Current 0.00 0.00

20 Assets Interest Accrued-Staff_Non-Current 0.00 0.00

21 Assets Interest Accrured on Earmarked Funds_Non-Current 0.00 0.00

22 Assets Loans to Staff_Non-Current 0.00 0.00

23 Assets TDS Receivable Account_Non-Current 0.00 0.00

24 Assets Security Deposit_Non-Current 0.00 0.00

25 Assets Advance to Party_Non-Current 0.00 0.00

26 Assets Advance to Employees_Non-Current 0.00 0.00

27 Assets Advance to Council Member_Non-Current 0.00 0.00

28 Assets Customer Accounts_Non-Current 0.00 0.00

29 Assets Other Receivable_Non-Current 108.00 108.00

Assets Total Non Current Assets F 108.00 108.00

Assets Current / Non Current Assets Total 7758153.26 9443687.18

K) Assets Inter-Unit Balance Assets

1 Assets Publication Current A/c 0.00 0.00

2 Assets Exam Form Current A/c 0.00 0.00

3 Assets Current Account - ICAI 1670857.56 0.00

4 Assets Staff Loan Control Account 0.00 0.00

5 Assets Capital Grant 0.00 0.00

6 Assets Library Grant 0.00 0.00

7 Assets Building Grant 0.00 0.00

8 Assets ITT Centre Grant 0.00 0.00

9 Assets Reading Room Grant 0.00 0.00

10 Assets Advance for Programs 0.00 0.00

11 Assets Notional Transfer A/C 0.00 0.00

12 Assets Remittance to Head Office 0.00 0.00

13 Assets Income Trf Control A/c 0.00 0.00

Assets INTER UNIT BALANCES TOTAL 1670857.56 0.00

Assets TOTAL 41001505.99 39273351.14




Significant Accounting Policies and Notes on Accounts as per Schedule 'I'

As per our report of even date attached.

For Gupta & Shah Chartered Accountants

CA. Govind Agarwal Deputy Secretary

CA. Abhishek SharmaTreasurer

CA. Abhisak Pandey Secretary

CA. Mukesh BansalChairman

( CA. Sharad Kumar Shah)Partner

M.No. 70601FRN No.001416C

Sd/- Sd/- Sd/-

Sd/-

Sd/-

Place: Kanpur. Date : 09.05.2019

17




GENERAL RESERVE SCHEDULE 'A'

Opening Balance as on 1.4.2018 23,341,139.64 10,782,810.80

Add: Surplus During the Year 4,589,075.93 3,710,732.16

Add: Balance of Earmarked Building Fund - 8,847,596.68

Closing Balance as on 31.3.2019 27,930,215.57 23,341,139.64

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

SCHEDULE 'B'

Balance As

On 01.04.2018 ADDITION INTREST TRANSFER

Balance As

On 31.3.2019

Rs. P. Rs. P. Rs. P. Rs. P. Rs. P.

A. MEDALS & PRIZES

Shri S.K.Tibrewal Mem. Fund 48,329.71 - 5,694.95 - 54,024.66

Shri R.K.Seth Mem. Fund 53,105.55 - 6,257.71 - 59,363.26

B. OTHER EARMARKED FUND

Building Fund - - - - -

101,435.26 - 11,952.66 - 113,387.92

EARMARKED FUND

PARTICULARS

TOTAL

CURRENT LIABILITES SCHEDULE 'C'

Library Security Deposit 110,500.00 113,500.00 Provision For Other Liablities 1,342,542.00 384,550.00

CICASA , Kanpur 1,178,170.00 1,178,170.00 Chairman Fund (Joint Account) 11,630.00 5,397.00 Katni CPE Study Chapter of CIRC of ICAI 21,186.00 - TOTAL 2,664,028.00 1,681,617.00

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

18




FIXED ASSETS SCHEDULE 'D'

ASSETS

Cost

As At 1.4.2018

Additions

During the Year

Deletions/

Transfer / Sale

Cost

As At 31.3.2019 Up to 1.4.2018 For the year

Deletions/

Transfer / Sale

Up to 31.3.2019

W.D.V.

As on 31.3.2019

W.D.V.

As on 31.3.2018

Rs. P. Rs. P. Rs. P. Rs. P. Rs. P. Rs. P. Rs. P. Rs. P. Rs. P.Tangibile Assets :

Furn iture & Fixtures 1,998,589.82 - - 1,998,589.82 1,385,201.16 59,805.00 - 1,445,006.16 553,583.66 613,388.66

Office Equipments 198,087.36 - - 198,087.36 155,797.27 6,106.00 - 161,903.27 36,184.09 42,290.09

Air Conditioners 361,217.20 - - 361,217.20 285,803.36 10,888.00 - 296,691.36 64,525.84 75,413.84

Library Books 1,182,861.00 - - 1,182,861.00 1,182,861.00 - - 1,182,861.00 - -

Computer 508,964.00 - - 508,964.00 503,653.02 2,708.00 - 506,361.02 2,602.98 5,310.98

Intangible Assets :

Software 5,408.00 - - 5,408.00 5,408.00 - - 5,408.00 - -

TOTAL 4,255,127.38 - - 4,255,127.38 3,518,723.81 79,507.00 - 3,598,230.81 656,896.57 736,403.57 PREVIOUS YEAR FIGURES (31.3.2018) 4,205,813.38 49,314.00 - 4,255,127.38 3,377,754.81 140,969.00 - 3,518,723.81 736,403.57 828,058.57

GROSS BLOCK DEPRECIATION AND AMORTISATION NET BLOCK

INVESTMENTS SCHEDULE 'E'

FDRs With Punjab National Bank , MG Road, Kanpur 225,837.00 225,837.00 FDRs With Punjab National Bank , Civi l Lines, Kanpur 12,208,135.00 11,789,535.00

FDRS With Standard Chartered Bank , The Mall , Kanpur 1,025,032.30 950,118.30 FDRs With Bank of Baroda,Civil Lines, Kanpur 4,181,684.00 3,942,168.00 FDRs With United Bank of India , Birhana Road, Kanpur 3,323,212.90 3,142,614.08 FDRs With YES Bank , Civi l Lines, Kanpur 8,894,963.49 8,147,181.00

Accrued Interest On FDR 1,056,733.91 895,807.01

TOTAL INVESTMENT 30,915,598.60 29,093,260.39

ALLOCATED TO :

Earmarked Fund 113,387.92 101,435.26 Other Investment 30,802,210.68 28,991,825.13

TOTAL 30,915,598.60 29,093,260.39

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

OTH ER CUR REN T ASSETS SCHEDULE 'F'

C URRENT

Amount Recoverab le From Mr . Ami t Homi, Ghaziabad 515,000 .00 765,000.00

Sub Total 515,000 .00 765,000.00

N ON CU RRENT

Amount Recoverab le From R.N.K .S inha 108.00 108.00

Sub Total 108 .00 108.00 T OT AL 515,108 .00 765,108.00

PARTICU LAR S

31.3.2019

Rs. P. 31.3 .2018

Rs. P .

19




ADVANCE AND PREPAYMENTS SCHEDULE 'G'

Deepawali Advance to Staff 25,000.00 44,750.00 Advance Salary to Staff - 180,000.00

TOTAL 25,000.00 224,750.00

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

CASH & BANK BALANCE SCHEDULE 'H'

Cash in Hand 3,605.50 3,115.50 Sub Total 3,605.50 3,115.50 Bank Balance

P.N.Bank S.B. A/C No. 2324000100052906 8,036.55 2,843,545.37 State Bank of India C.A. No. 11022171800 22,461.26 10,000.26 Yes Bank S.B.A/c No. 007394600000413 2,352,463.35 1,008,448.05 Sub Total 2,382,961.16 3,861,993.68

TOTAL 2,386,566.66 3,865,109.18

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

20

SCHEDULE ' J'

FROM 1.4.2018 TO 31.3.2019

INCOME EXPENSES SURPLUS /DEFICITRs. P. Rs. P. Rs. P.

Seminar Members

1 Seminar on Technology Summit 29.5.2018 82,100.00 59,106.44 22,993.56 2 Seminar on Direct Tax 29.12.2018 176,850.00 69,529.00 107,321.00

3 Seminar on Real Estate 17.1.2019 159,700.00 69,018.00 90,682.00

4 Seminar on Taxation 4.3.2019 64,600.00 47,217.00 17,383.00

5 CA Day Programme 1.7.2018 39,125.00 39,125.00 -

TOTAL 522,375.00 283,995.44 238,379.56

Seminar Students

1 CA Students Seminar 1.4.2018 to 31.3.2019 - 1,995.00 (1,995.00)

TOTAL - 1,995.00 (1,995.00)

Grand Total 522,375.00 285,990.44 236,384.56

SUMMARY OF INCOME & EXPENDITURE ACCOUNT FOR SEMINARS, CONFERENCE & MEETING CONDUCTED

BY CIRC at Kanpur

SL.NO.

NAME OF SEMINAR/ CONFERENCE/

MEETING DATE




OTHER INCOME SCHEDULE ' K'

Misc. Income 114.00 272.00

TOTAL 114.00 272.00

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

SALARIES & STAFF EXPENSES SCHEDULE ' L'

Salaries & Allowances 5,970,041.50 4,523,635.00 Medical Reimbursement 40,000.00 40,000.00 Uniform Washing Allowances 5,980.00 9,662.00

Transport Subsidy 416,357.00 423,600.00 Educational Allowances 80,398.00 69,208.00 Professional Development Allowances 12,000.00 14,400.00 Reimbursement of Conveyance in Lieu of O.T. 96,800.00 106,600.00

Allowance For Academic Pursuit 111,235.00 112,956.00 LTC Expenses 4,780.00 18,728.00 Sub Total 6,737,591.50 5,318,789.00

Employer Contribuition of P.F./ S.W.F. 528,857.00 480,128.00 Staff Welfare Expenses 24,702.00 24,625.00 Sub Total 553,559.00 504,753.00 TOTAL 7,291,150.50 5,823,542.00

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

OTHER EXPENSES SCHEDULE ' M'

Bank Charges 1,150.80 1,458.38 GST Expenses 14,363.22 62,318.62 Magazine & Periodicals 10142.00 9984.00

Misc. Expenses 1,375.42 10,765.00 TOTAL 27,031.44 84,526.00

PARTICULARS

31.3.2019

Rs. P. 31.3.2018

Rs. P.

21




SCHEDULE OF SIGNIFICANT ACCOUNTING POLICIES AND NOTE ON ACCOUNTS ANNEXED TO AND FORMING PART OF

BALANCE SHEET AS AT 31.3.2019

SCHEDULE ' I '

A. Significant Accounting Policies

1. Accounting Convention:

The accounts are drawn up on historical cost basis and have been prepared in accordance with the applicable Accounting Standards and are on accrual basis unless otherwise stated.

2. Revenue Recognition :

a. Commission on sale of publication and other income are recognized on accrual basis.

b. Income of interest bearing fixed deposits is recognized on a time proportion basis taking in to account the amount outstanding and the rate applicable.

3. Fixed Assets / Depreciation:

a. Fixed Assets are stated at historical cost less depreciation as per guidelines of the Institute.

b. Depreciation is provided on the Written Down Value method at the following rates as approved by the council based on the useful life of the respective assets:

Air conditioners & Office Equipment 15%Furniture & Fixture 10%Vehicles 20%Computers 60%

c. Depreciation has been provided on monthly pro rata basis.

d. Library Books are depreciated at the rate of 100% in the year of purchase.

e. Intangible Assets (Software) are amortized equally over a period of three years.

4. Inventories:

Publication stock has been valued at transfer price of stock . Provision for obsolete or non moveable stock, if any has to be dealt at Head Office level.

5. Terminal / Retirement Benefits

The provision for liability towards Gratuity , Pension & Leave Encashment is made at Head Office level.

22




6. Electricity Expenses

20% of the Electricity Expenses of the ICAI Bhawan, Kanpur have been charged to Income & Expenditure account as per the decision of The Executive Committee of Central Council in its 463rd Meeting held on 26.02.2007 at New Delhi.

B. Notes of Accounts:

Previous year figures have been regrouped where ever necessary to make the figure comparable with current year figures.

As per our report of even date attached.

For Gupta & Shah Chartered Accountants

CA. Govind Agarwal Deputy Secretary

CA. Abhishek SharmaTreasurer

CA. Abhisak Pandey Secretary

CA. Mukesh BansalChairman

( CA. Sharad Kumar Shah)Partner

M.No. 70601FRN No.001416C

Sd/- Sd/- Sd/-

Sd/-

Sd/-

Place: Kanpur. Date : 09.05.2019

23

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