Building hostels for women, orphans to be CSR activity

Setting up of hostels for women and orphans as well as efforts that benefit armed forces veterans, war widows and their dependents will come under the 'Corporate Social Responsibility' spending ambit. 

With the government notifying norms for CSR spending by companies, Corporate Affairs Minister Sachin Pilot today said the rules have been finalised after extensive discussions with all stakeholders. 

The new CSR regime, part of the Companies Act 2013, requires certain class of corporates to shell out at least two per cent of their three-year annual average net profit towards social welfare spending activities. 

Besides setting up homes and hostels for women and orphans, setting up old age homes, day care centres and such other facilities for senior citizens would be considered as CSR activities by the government. 

Significantly, "measures for reducing inequalities faced by socially and economically backward groups," would also come under CSR ambit. 

Further, measures initiated by companies for the benefit of armed forces veterans, war widows and their dependents would be classified as social welfare spending by companies. 

Both domestic and foreign companies having net worth of at least Rs 500 crore or having minimum turnover of Rs 1,000 crore or those with at least net profit of Rs 5 crore, have to make CSR spend. 

Another area included in the CSR framework is promoting preventive health care and sanitation and making available safe drinking water. 

Commenting on CSR rules, Pilot further said they "provide for the manner in which CSR Committee shall formulate and monitor the CSR Policy, manner of undertaking CSR activities, role of the Board of directors therein and format of disclosure of such activities in the board's report". 

As per the notified rules, ensuring ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining quality of soil, air and water can also be CSR initiatives. 

In addition, livelihood enhancement and rural development projects would be under CSR framework. 

Other areas covered include protection of national heritage, art and culture, setting up public libraries, promotion and development of traditional arts and handicrafts, training to promote rural sports, nationally recognised sports, paralympic sports and Olympic sports. 

"Contributions or funds provided to technology incubators located within academic institutions which are approved by the central government," would also be considered as CSR activities, according to the rules.

Source : Business - Standards 

e-Learning DVDs available for CPT, Intermediate (IPC) and Final Courses

The Board of Studies, the academic wing of the Institute, had made available online e-Learning

facility on the Students Learning Management System (LMS) at http://studentslms.icai.org last year

to enable students to learn at their convenience anytime and anywhere. The Students LMS provides

a dashboard of e-Lectures available, attempted and completed, to track the learning and

development by the Students. The LMS also has a Self Assessment Quiz Chapter and Subject wise, to

enable students to make a self-assessment of their preparation. There has been a very encouraging

response and acceptance for this initiative with a steady growth by the day.

The Board of Studies is pleased to inform availability of the following five DVDs that aim to enable

Students to learn at their convenience anytime and anywhere without the need for Internet, waiting

for files to download and costs thereto:

While these DVDs have been designed to work on Multimedia Desktop Computer and Laptop, they

have been developed as a responsive site that may also work on recent Mobile Phones and Tablets

(Android 4+, IOS), when copied on the Memory/ SD Card.

Students are encouraged to make good use of these DVDs to have a better understanding of the

subjects and enhance their preparation for forthcoming Examination through the Study Materials

issued to them and updated from time to time.

  To Download the Official Notification :

                                                                     

A wonderful short story :: HOW CAN WE BE HAPPY ?

Once a group of 50 people was attending a seminar.
Suddenly the speaker stopped and decided to do a group activity. He started giving each one a balloon. Each one was asked to write his/her name on it using a marker pen. Then all the balloons were collected and put in another room.

Now these delegates were let in that room and asked to find the balloon which had their name written, within 5 minutes. Everyone was frantically searching for their name, colliding with each other, pushing around others and there was utter chaos.

At the end of 5 minutes no one could find their own balloon.
Now each one was asked to randomly collect a balloon and give it to the person whose name was written on it.
Within minutes everyone had their own balloon.

The speaker began— exactly this is happening in our lives. Everyone is frantically looking for happiness all around, not knowing where it is.

Our happiness lies in the happiness of other people. Give them their happiness; you will get your own happiness.

And this is the purpose of human life.

Is this not what you are looking for?

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Facebook to acquire WhatsApp

Facebook on Thursday said it has reached a "definitive agreement" to acquire mobile messaging firm WhatsApp for approximately $16 billion, including $4 billion in cash and about $12 billion worth of Facebook shares.

However, the ultimate cost of the deal is likely to be about $19 billion as "the agreement also provides for an additional $3 billion in restricted stock units to be granted to WhatsApp’s founders and employees that will vest over four years subsequent to closing."

WatsApp will continue to operate independently and retain its brand, while its co-founder and CEO Jan Koum will join Facebook Board of Directors, the social networking firm said in a statement.

WhatsApp’s core messaging product and Facebook’s existing Messenger app will continue to operate as standalone applications.

The acquisition supports Facebook and WhatsApp's shared mission to bring more connectivity and utility to the world by delivering core internet services efficiently and affordably. The combination will help accelerate growth and user engagement across both companies, it added.

"WhatsApp is on a path to connect 1 billion people. The services that reach that milestone are all incredibly valuable," Facebook founder and CEO Mark Zuckerberg said.

In the event of termination of the Merger Agreement under certain circumstances principally related to a failure to obtain required regulatory approvals, the Merger Agreement provides for Facebook to pay WhatsApp a fee of $1 billion in cash and to issue to WhatsApp a number of shares of Facebook’s Class A common stock equal to $1 billion based on the average closing price of the ten trading days preceding such termination date, the statement added.

Facebook was advised by Allen & Company LLC and Weil, Gotshal & Manges LLP; and WhatsApp was advised by Morgan Stanley and Fenwick & West, LLP.

Now, a printer that uses water instead of ink

     
                  

DRINK WATER ON EMPTY STOMACH

It is popular in Japan today to drink water immediately after waking up every morning. Furthermore, scientific tests have proven its value. We publish below a description of use of water for our readers. For old and serious diseases as well as modern illnesses the water treatment had been found successful by a Japanese medical society as a 100% cure for the following diseases :

Headache, body ache, heart system, arthritis, fast heart beat, epilepsy, excess fatness, bronchitis asthma, TB, meningitis, kidney and urine diseases, vomiting, gastritis, diarrhea, piles, diabetes, constipation, all eye diseases, womb, cancer and menstrual disorders, ear nose and throat diseases.

METHOD OF TREATMENT : 

1. As you wake up in the morning before brushing teeth, drink 4 x 160ml glasses of water

2. Brush and clean the mouth but do not eat or drink anything for 45 minute

3.. After 45 minutes you may eat and drink as normal.

4. After 15 minutes of breakfast, lunch and dinner do not eat or drink anything for 2 hours

5. Those who are old or sick and are unable to drink 4 glasses of water at the beginning may commence by taking little water and gradually increase it to 4 glasses per day.

6. The above method of treatment will cure diseases of the sick and others can enjoy a healthy life.

The following list gives the number of days of treatment required to cure/control/reduce main diseases:
1. High Blood Pressure (30 days)
2. Gastric (10 days)
3. Diabetes (30 days)
4. Constipation (10 days)
5. Cancer (180 days)
6. TB (90 days)
7. Arthritis patients should follow the above treatment only for 3 days in the 1st week, and from 2nd week onwards – daily..

This treatment method has no side effects, however at the commencement of treatment you may have to urinate a few times.
It is better if we continue this and make this procedure as a routine work in our life. Drink Water and Stay healthy and Active.

This makes sense .. The Chinese and Japanese drink hot tea with their meals not cold water. Maybe it is time we adopt their drinking habit while eating!!! Nothing to lose, everything to gain...

For those who like to drink cold water, this article is applicable to you.
It is nice to have a cup of cold drink after a meal. However, the cold water will solidify the oily stuff that you have just consumed. It will slow down the digestion.

Once this 'sludge' reacts with the acid, it will break down and be absorbed by the intestine faster than the solid food. It will line the intestine.
Very soon, this will turn into fats and lead to cancer. It is best to drink hot soup or warm water after a meal.

A serious note about heart attacks:

• Women should know that not every heart attack symptom is going to be the left arm hurting,
• Be aware of intense pain in the jaw line.
• You may never have the first chest pain during the course of a heart attack.
• Nausea and intense sweating are also common symptoms.
• 60% of people who have a heart attack while they are asleep do not wake up.
• Pain in the jaw can wake you from a sound sleep. Let's be careful and be aware. The more we know, the better chance we could survive...
A cardiologist says if everyone who gets this mail sends it to everyone they know, you can be sure that we'll save at least one life.
Please be a true friend and send this article to all your friends you care about.

PLEASE DON'T IGNORE SHARE IT. THIS MIGHT SAVE SOMEONE'S LIFE.

        “Sharing IS Caring” 

Banana For Breakfast Anyone ? ? ?

     
                  

Post your query here directly to ICAI, they will contact you within 48 hours

http://220.227.168.109/index.htmlProcedure To Use the E-Sahaayaata

 

                                                                       

RBI to Enable ATM Withdrawal Sans Bank Account

Reserve Bank of India Governor Raghuram Rajan said that people without bank accounts in India would be able to withdraw money from automated teller machines (ATMs).

The RBI has recently approved the in-principle setting up of a payment system that will allow funds transfer from bank account holders to those who do not have accounts through ATMs, Rajan said on the sidelines of a Nasscom function here on Wednesday.

Essentially, the sender can have the money withdrawn from his account through an ATM transaction. The intermediary processes the payment, and sends a code to the recipient on his mobile that allows him to withdraw the money from any nearby bank’s ATM.

“The system will take care of necessary safeguards of customer identification, transaction validation, velocity checks etc. We need more such innovative products, some of which mobile companies are providing,” said Rajan.

The RBI Governor also said that no decision has been arrived at on the issue of setting up 'Payments Banks' or specialised banks to provide services to small businesses.

“At this point there is no decision to move forward. We will look at it in great detail, including what value it brings, the viability as well as whether it presents arbitrage opportunities vis-a-vis the Schedule commercial banks,” he said.

Concern over virtual currencies

Rajan also expressed concern over the methodologies being used to determine the value of virtual currencies like Bitcoin.

“As a currency I do worry a little bit when the underlying fluctuates tremendously. One of the values of a currency is some stability,” he said at a Nasscom function here on Wednesday.

The RBI is presently studying the issue but did not clarify whether this virtual currency is legally valid. In late December, the central bank had warned on the dangers of investing in virtual currency.

“If a currency is a target of speculation as opposed to primarily a means of exchange, it does create some concerns for the user,” the governor said referring to the value of bitcoins that have multiplied in recent months.

Rajan Cautions on Fraudulent Emails

RBI Governor Raghuram Rajan  warned against fraudulent emails that are being sent under his name asking people for their bank account details. “Many of you must receive frequent emails, purportedly from me, informing you of a large sum of money that awaits you at the RBI, and urging you to send me your account details so that I can transfer the money to you. Let me assure you that the RBI does not give out money, I do not send these emails, and if you do fall for such emails, you will lose a lot of money to crooks and be reminded of the adage – if anything looks too good to be true, it probably is not true,” he said.

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IPCC Accounts Tips , Downloads - May 2014

Group-I Accounting is all about common sense. This is one of the important subjects, because, it helps a lot in securing the required aggregate marks in the group. A few recent facts are stated below:

On a sample survey of last four IPCC exams, it was found out that, if you take 100 students who have secured exemption in Group 1, among those 100, a staggering 60-70 number of exemptions have come from the Accounting subject.

In another survey of students who failed in the May 2013 exam but got an exemption in one or more subject, there are 68% students who have got their exemption only in Accounting.

The trick is choosing a wise material. Recent toppers have stated that, ICAI’s practice manual is the best and that’s what makes the difference.

“Important Topics”

   1. Partnership-Retirement

   2. Single Entry

   3. Insurance for Loss of Profit

   4. AS-6,9&10

Strategy for preparing

“A/c”

Simple Order To Follow :

1. Accounting Standards,

2. Environmental accounting (compulsory question),

3. CFS,

4. Amalgamations,

5. Single Entry,

6. Profit prior to incorporation,

7. NPO accounting,

8. Special cases accounting,

9. Partnership,

10. ADD, AC & SBL`s.

11. Point 1 to Point 6 would cover almost 65 marks of the paper at group – 1.

Warning:

Do not Follow more than one book for conceptual learning. Everything would be a mess at the end. You may take up problems from other books if time permits, but solve as per your basic guiding book.

“Amendments In A/c-May2014”

Exclusion of Hire Purchase Trading A/c, Stock and Debtors Method from IPCC Syllabus:

In Accounting paper, ICAI has made it clear that, these topics are no longer relevant and 
they are in wrong motion. By this, it is quite clear that ICAI has decided to exclude these topics with immediate effect and so will not be applicable for the upcoming November 2013 exams.

A. Pronouncements

Accounting Standards 1, 2, 3, 6, 7, 9, 10, 13 and 14 are covered in the syllabus.  (Text of all applicable Accounting Standards are available in the Appendix I of Volume I of  ‘Accounting’ Study Material revised in November, 2012.).

B. Announcement relevant for May 2014 examination

Criteria for Classification of Entities and Applicability of Accounting Standards

Due to recent changes in the enhancement of tax audit limit, the Council of the ICAI has  recently decided to change the 1st criteria i.e. determination of SME on turnover basis for  Level II entities from Rs. 40 lakhs to Rs. 1 Crore with effect from the accounting year  commencing on or after April 01, 2012.

         Download Section

A/c Practice Manual & RTP in Single Click  

                                                    

       Accounts Theory Notes

                       

  Amalgamation Notes

                         

         A/c Exam Pattern – May 2011 to Nov 2013 

                           

       Internal Reconstruction

                                                       

            How to Calculate PC & Journal Entries 

                                                    

                          Investment Accounts

                                                    

                           Incomplete Records

                                                    

                            Insurance Claims

                                                    

                   Non-Profit Organisation Notes

                                                    

                             Partnership Notes

                                                    

                      Company Accounts Notes

                                                    

                      Accounting Standards Notes 

                                                    

                    Also Download 

          Suggested Answers - From Nov 2009 to Nov 2013

         Revision Test Papers - From May 2010 to Nov 2013

       

          "Sharing Is Caring"

Bank employees’ two-day strike hit transactions across India

The two-day nationwide strike by bank employees has affected clearing of cheques worth Rs7.40 lakh crores across the country on Monday. At many places, ATMs are not functioning or are dried up. The strike would continue on Tuesday as well

Banking operations, including clearing of cheques, across the country were hit Monday as around 10 lakh employees went on a two-day nationwide strike over wage revision settlement and ongoing banking sector reforms.

United Forum of Bank Unions (UFBU), the umbrella organisation of five employeeunions and four officer unions of state-run banks in the country, had given the call for strike on 10-11 February. Due to the strike, banking transactions, including clearingoperations, were paralysed across the country. While bank branches remain closed at several places, normal banking services were disrupted.

"All over the country about 10 crore cheques worth Rs7.40 lakh crore could not be cleared. In Chennai clearing house, about 90 lakh cheques worth about Rs64,000 crore could not be processed in clearing. Government transactions, foreign exchange transactions andmoney market operations were also affected.  In many places, ATMs did not function or were dried up," said CH Venkatachalam, general Secretary, All India Bank EmployeesAssociation (AIBEA) in a statement.

Around 10 lakh bank employees and officers working in 27 public sector banks including State Bank of India (SBI) and 12 old generation private sector banks and eight foreign banks are on a two days nationwide strike.

Apologising for the inconvenience caused to public due to the strike, Mr Venkatachalam said, "Since Indian Bank's Association (IBA) and government did not settle our demands,the strike has been forced on us. We are sorry that the banking public would have been inconvenienced by this strike but that was unavoidable due to the non-serious approach of the IBA and government to avert the strike by improving their offer on wage increase and discussing our concerns on the banking sector reforms."

UFBU had called for a strike on 20-21 January this year. At that time, the IBA increased its offer to 9.5% from 5% with a promise to improve it further. However, during the discussions on 27th January, the IBA increased its offer by just 0.5% to 10%, which was rejected by UFBU representatives. The Union has been seeking an increase of 30% as their wage revision is pending since November 2012.

On 14 December 2013, the IBA called the Unions for talks and made their offer, which was found to be too low and hence was not acceptable to the Unions and hence UFBU decided to go ahead with the strike, the statement from AIBEA said.

According to UFBU, the last wage settlement in the banking sector expired in October 2012 and hence a revised settlement was due from November 2012.

Mr Venkatachalam said, bank managements are claiming that bad loans are increasing and hence profits are reducing. “Bad loans increase but not because of employees. Employees should not be held responsible for the same.  In the last five years Rs1.40 lakh crore have been provided towards bad loans from the profits. In addition, in the last six years, bad loans worth Rs1.41 lakh crore have been written off. But when it comes to our salary revision, managements are reluctant,” he said.

According to UFBU, its demands are reasonable and also negotiable. Mr Venkatachalam said, “UFBU would like to settle the demands through mutual discussions. But if the banks do not adopt a fair approach, the employees’ resentment would have to be ventilated through strikes only. We hope that IBA would understand our demands and come forward to settle the demands through amicable negotiations and finalise the settlement at the earliest.”

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