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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


Jan'17

Previous Issues

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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Factors Influencing Environmental Disclosures: Evidence from India
The Impact of EVA and Traditional Accounting Performance Measures
on Stock Returns: Evidence from India
Adoption of Fair Value Accounting
in Indian Accounting System
Factors Affecting the Adoption
of e-Filing of Income Tax Returns
in India: A Survey
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Contents
(Jan 2017)

Factors Influencing Environmental Disclosures: Evidence from India

--G Ezhilarasi and K C Kabra

Social responsibility amongst various components of the society has started imposing pressure on organizations in reducing their industrial activities which impact the nature adversely. The business entities have started taking care of the nature, which is their primary source of production. In order to attain public interest, the companies have started disclosing information regarding environment-related costs and benefits in their periodic report. The purpose of the present study is to determine the factors that influence environmental disclosures of companies doing business in India. First, the paper talks about the status of environmental disclosure practices by framing Environmental Disclosure Index (EDI) based on Global Reporting Initiative (GRI) guidelines. The descriptive analysis shows a low level disclosure of environmental information, but the year-wise performance shows an increasing trend suggesting that firms in India have realized the importance of environmental reporting. Using panel data regression model, it is found that company size, board size, foreign ownership and environmental certification are important factors in explaining environmental disclosure practices. Developing countries like India should make it mandatory for companies to disclose information on environmental issues in their periodic reports for better sustainable development.

The Impact of EVA and Traditional Accounting Performance Measures on Stock Returns: Evidence from India

--Y V Reddy and Parab Narayan

The importance of stock returns and Economic Value-Added (EVA) have attracted various research scholars over the past several years. The present study is an analytical attempt to critically evaluate the relationship between stock returns and EVA. The study considers a sample of 50 companies listed on the National Stock Exchange (NSE) of India for the period of five years, i.e., 2012-2016. Along with EVA, other traditional measures analyzed include Return on Equity (ROE), Return on Asset (ROA), Dividend per Share (DPS) and Earnings per Share (EPS). Statistical techniques like Karl Pearson’s correlation matrix, regression analysis using ordinary least square model and Granger causality test have been implemented to prove the results. The results indicate a positive relationship of stock returns with EVA and the traditional measures of performance measurement. But the study did not find any evidence indicating significant impact of these variables on the stock returns. Also, it was found that EVACE, ROA and ROE do Granger cause stock returns.

Adoption of Fair Value Accounting in Indian Accounting System

--Debarshi Bhattacharya

Of the 14 countries that have adopted IFRS for at least some (but not all) domestic publicly accountable entities, India is one. Hence, India has finally adopted fair value measurement in its business reporting system. For the purpose of defining and measuring fair value in India, the ICAI has introduced converged Indian Accounting Standards in line with IFRS, Ind AS 113 on fair value measurement. Although Ind AS 113 defines fair value, sets out a single Ind AS framework for measuring fair value and requires disclosures about fair value measurements, it does not direct which assets and liabilities too are measured at fair value. Rather, Ind AS 113 is applicable when another Ind AS requires or permits fair value measurements or disclosures about fair value measurements. As per MCA’s notification dated 16.02.2015, the first financial reporting on the basis of converged ASs of Indian companies will be mandatorily prepared on March 31, 2017. Analysis of fair value measurement of assets and liabilities made by Indian companies can only be done after preparation of their financial statements for the year 2016-17. It will be interesting to see how Indian companies measure fair value of assets/liabilities, for which no active market exists, using significant unobservable inputs (i.e., Level 3 Inputs) as enumerated in the hierarchy of Ind AS 113.

Factors Affecting the Adoption of e-Filing of Income Tax Returns in India: A Survey

--Sumit Kumar Maji and Kalyan Pal

This paper evaluates the e-filing trends in India and also discusses the factors affecting the adoption of e-filing system and level of satisfaction among the e-filing system users in India. In the existing literature of behavioral science, there is an extensive use of the Theory of Reasoned Action (TRA) (Fishbein and Ajzen, 1975), Theory of Planned Behavior (TPB) (Ajzen, 1985) and Technology Acceptance Model (TAM) (Davis et al., 1989) to explain the different factors affecting the human behavior and also with special reference to the factors influencing adoption of the e-filing system. This study also uses TPB and TAM for determining the different factors affecting the e-filing adoption in India. For this purpose, a structured questionnaire is framed to get the opinions of the e-filing system users. Primary data so collected are analyzed with the help of different statistical and econometric tools such as mean, standard deviation, principal component analysis, and multivariate probit analysis. The findings of the study suggest that the tax professionals surveyed are very much satisfied with the e-filing system and thus there is a positive behavioral intention towards the entire system. Such a positive intention and level of satisfaction is due to the perceived ease of operation, perceived utility, e-filing website service quality, social influence and cost-effectiveness. The results of the study also reveal that perceived risk associated with the e-filing system negatively affects the level of satisfaction and the behavioral intention of the e-filing system users.

 

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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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