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The IUP Journal of Accounting Research and Audit Practices
ISSN: 0972-690X
A ‘peer reviewed’ journal indexed on Cabell’s Directory,
and also distributed by EBSCO and Proquest Database


Jul'17

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The IUP Journal of Accounting Research and Audit Practices is a quarterly journal that seeks to provide a platform for cutting edge research in the field of accounting for the benefit of academia and profession at large. IJARAP delivers auditing research articles on financial accounting, management accounting, auditing, accounting standards, taxation, IT-Accounting interface and R&D reporting biases and their consequences.

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Focus Areas
  • Financial Accounting
  • Management Accounting
  • Forensic Accounting
  • Accounting Standards
  • Taxation
  • IT Accounting Interfacing
  • Auditing
  • Corporate Disclosures
  • Internal Audit
  • Audit of Financial Statements
  • Audit Education
  • Cost Audit
  • Tax Audit
  • Audit Standards and Assurance
  • Social Audit
  • Environmental Audit
  • Quality Audit
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Performance Evaluation Using Ratio Analysis: Public Versus New-Generation Private Sector Banks
Impact of Changes in Regulatory Framework on Financial Reporting Quality: A Study of S&P CNX Nifty Companies
Accounting for Farms in India: An Analysis in the Context of Recognition, Measurement and Presentation of Financial Data
Conceptual Issues in Lean Accounting: A Review
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Contents
(Jul 2017)

Performance Evaluation Using Ratio Analysis: Public Versus New-Generation Private Sector Banks

--B Amarender Reddy and D Sreenivasa Chary

Stabilization and Structural Adjustment Program of 1991 has brought unprecedented changes in the Indian economy. The post policy initiatives resulted in the abolition of licensing policy, de-reserving the areas for the participation of private entities, disinvestment of government investments in public sector organizations, opening up of the Indian economy for global players in various sectors, disintermediation in the financial markets, reducing the role of public financial institutions, and the emergence of new-generation private sector banks. This paper examines the impact of the entry of new-generation private sector banks on the performance of public sector banks, by analyzing 29 performance-related ratios for 12 years (2004-05 to 2015-16), relating to these banking groups, to determine whether there is any significant difference in their performance. The results indicate that new-generation private sector banks are able to show better performance by judiciously sourcing the funds either from public/market at a cheaper rate of interest and deploying them on deserving assets at less operational costs. The competition warranted the public sector banks to improve their performance, to comply with the profitability considerations and as well realize the social obligations.

Impact of Changes in Regulatory Framework on Financial Reporting Quality: A Study of S&P CNX Nifty Companies

--Taminder Kaur and Archana Goel

he quality of information provided in annual reports depends upon many factors. A large number of studies identified various factors that influence Financial Reporting Quality (FRQ) such as ownership structure, financing pattern, domestic and foreign listing of shares, diversity in management, audit committee and board structure. One of the important factors which influence FRQ and has not been explored much in accounting literature is legal and regulatory environment of a country. Very few studies have focused on the impact of legal and regulatory environment on FRQ. This paper is an attempt to examine the impact of change in legal statute on FRQ of Indian companies by examining the annual reports of S&P CNX Nifty companies before and after the enactment of the new Companies Act 2013. The results show that there is no significant improvement in most of the elements in FRQ which may indicate lack of interpretation of new regulations or lack of strict implementation of rules. This may also implicate that policy makers should bring more clarity to current regulations, assigning responsibility to relevant authorities for proper implementation of rules.

Accounting for Farms in India: An Analysis in the Context of Recognition, Measurement and Presentation of Financial Data

--Haripriya Dutta and Debabrata Das

The farm accounting practice in India is said to be in its infant stage. This paper seeks to examine the rationale for a full-fledged farm accounting practice in the country. Literature reveals a strong relationship between the degrees of commercialization with that of the adoption of accounting practices. Therefore, the study attempts to examine the commercial traits in Indian farms, which genuinely envisage such practices in the sector. Thereafter, the existing practices of accounting in India are discussed by underscoring the measurement and valuation techniques of different farm account heads. Lastly, the study tries to draw attention to certain lacunas in the existing system. These are drawn using the authors’ own observations, supported by past research. As outcomes of the study, a considerable commercial appeal is seen in the Indian farm sector. Certain farm accounts heads and their respective treatments are provided to explore the existing system of farm accounting in the country. The drawbacks of present practice are found in terms of recognition, measurement and presentation of financial data.

Conceptual Issues in Lean Accounting: A Review

--Vineeta Arora and G Soral

In today’s business world, accounting is defined as not only a tool for measuring financial figures, but also a foolproof system that can measure and manage the value. This has forced the companies to re-think on their internal processes so that the process also meets the value definition of the customer. Lean accounting can be the answer to all the expectations raised. It is a principle-based operating system which can be expressed in terms of customer value, value stream, flow and pull with minimum interruption, pursuit of perfection, and empowered people. It is a systematic approach to eliminate waste like overproduction, waiting, transportation, inventory, over-processing, etc. through continuous improvement. The current cost accounting system earns profit by full utilization of resources, and is associated with large inventory, long lead time and poor delivery, while lean system earns profit through ‘maximized flow’ on pull from customers and elimination of waste, resulting in superior customer value, good quality, good delivery and shorter lead time. This paper tries to explore the conceptual issues of lean accounting, i.e., its meaning, definition, evolution, need, and also presents a comparison between lean accounting and traditional accounting which helps the readers to understand the term lean accounting clearly.

 

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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