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Professional Events

Webinar on Accounting Reforms organized

A Webinar on Accounting Reforms was organized by Ministry of Railways in association with the Institute of Chartered Accountants of India (ICAI) from on 31st May 2017.
The webcast was viewed by about 3000 officials of the Zonal Railways and Production Units and had an approximate 450 logins. It was also viewed by around 300 leading Chartered Accountants who have been engaged by ICAI to assist in the process of roll out of Accrual Accounting across Indian Railways (IR).
The Webinar was an online training session through live audio visual presentation on the overview of the project on introduction of accrual accounting in IR, implementation strategy, works to be done by Zonal Railways and Production Units, reporting formats etc. It was an interactive session enabling concurrent question and answers through a window available within the screen. The recorded proceedings of the webinar and replies to queries raised shall be shared through the link i.e. http://estv.in/icai/31052017/ .
At the outset Sh. Naresh Salecha, Adviser Finance gave a broad overview of the Accounting Reforms Project by sharing that Mission Beyond Book keeping encompasses three functional domains of Accrual Accounting, Performance Costing and Outcome Budgeting and that with the implementation of Accounting Reforms in its totality IR would change the way it perceives not just its accounting but its operations and business as a whole. He also stated that the Project is being monitored at the level of PMO, NITI Aayog and Hon’ble Minister of Railways and therefore the timelines were sacrosanct. He also urged the Zonal Railways and Production Units to ensure maximum participation not only in the implementation process but also in ensuring sustainability of the reform process.
This was followed by a presentation by Sh. Satyendra Kaushik, CPM/AR/NR who shared in detail the nuances of the AR Project. He laid special emphasis on Accrual Accounting and shared the learnings from the pilot study at North Western Railway.
C.A Atul Gupta, team leader of the roll out of Accrual Accounting Project and Central Council member of ICAI made a presentation on the process and methodology which would be followed while rolling out of Accrual Accounting across Zonal Railways and Production Units. This was followed by a question answer session.
This was the first time that an innovative IT enabled approach was adopted to address the need for mass outreach and knowledge sharing. We hope that this will become a template for many such endeavors in the future.
A glimpse of feedbacks received from the field units across IR are as under:
“The webinar was quite good….Content wise also it was a good learning experience and we now came to know of the future course of action”
“Huge amount of work seems to have gone into the whole process! Epoch making!”
“It was an overwhelming initiative”
‘The seminar was very informative and successfully conducted…officials from various departments were also present…It was appreciated by everyone.”

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Shri B N Mohapatra
Financial Commissioner(Railways)