The new IRAS Logo assimilates the past, present and future to demonstrate the future ready IRAS which upholds the principles of “Propriety, Proficiency and Productivity”.
The logo has been carefully designed to demonstrate the nature of the service and contemporary times.
Adorned with the National Emblem, the logo symbolizes service to the Government of India. The Railway bogie resting on the track symbolizes that IRAS is dedicated to serving the Indian Railways, the three wheels represents evolution and motion, and upholding the motto of “Propriety, Proficiency and Productivity”. The book and the computer monitor symbolizes that IRAS is the fusion of both old and new methods of analysis, its ability to continuously evolve and embrace innovations, bridging the traditional methods of accounting and book-keeping with latest technology such as data analysis, AI etc. to propel IR to an upward growth trajectory.
Finally the 25 pairs of leaves on the logo represents the 17 Zonal Railways and 8 Production units which comprise India Railways. They also symbolizes wisdom, prosperity, motion and continuity.
The logo is a demonstration of the “FUTURE READY IRAS”.
Conceptualised and designed by Shri. Puneet Meena, Shri. Ajay Bartwal and Shri. Rajat Agarwal
Saturday, April 20, 2024
Lecture by Sri.A.Venkateshwar, Rtd. FA&CAO/SCR & Consultant to MoR on “Accounting Reforms and the way forward†on 21/11/17
Sri.A.Venkateswar, Rtd. FA&CAO/SCR & Consultant to Ministry of Railways on Accounting Reforms delivered a lecture on 21/11/17 on the role and relevance of finance officers in IR and the challenges ahead.
He stressed that there is an urgent need for the finance wing to re-invent itself and re-align its priorities to stay relevant by delivering qualitative inputs to the administration and act as an enabler in informed decision making.
He touched upon the deficiencies in cash based accounting followed by IR and the need for adopting Accrual Accounting on Rlys., which would enable better appreciation of IR’s performance in terms of internationally accepted standards and norms. Mr.Venkateshwar also explained the rationale to revise the codal life of IR’s much- stressed assets and the urgent need for capacity building, replacement and safety related development expenditure, besides the new found interest to invest in IR.
Implementation of Accounting Reforms on IR, in 3 phases, (i) Compilation of Fixed Asset Registers and drawal of Accrual Impact Sheets (ii) Performance Costing and (iii) Outcome Budgeting was explained.
The speaker touched upon Performance Costing, which involves Activity Based Unit Costing, to enable cutting down on infructuous expenditure and optimize spending to effectively compete with market forces.
Mr.Venkateshwar was eloquent in describing the pivotal role of Outcome Budgetting (Ph-III of the AR project) and risk assessment management as an important area. The speaker also called upon Finance Officers to adequately equip themselves to be able to assess the processes involved in a project, risk mitigation, opportunity costs and application of various techniques for project evaluation, which would make finance an indispensable arm of the IR working.
He stressed that there is an urgent need for the finance wing to re-invent itself and re-align its priorities to stay relevant by delivering qualitative inputs to the administration and act as an enabler in informed decision making.
He touched upon the deficiencies in cash based accounting followed by IR and the need for adopting Accrual Accounting on Rlys., which would enable better appreciation of IR’s performance in terms of internationally accepted standards and norms. Mr.Venkateshwar also explained the rationale to revise the codal life of IR’s much- stressed assets and the urgent need for capacity building, replacement and safety related development expenditure, besides the new found interest to invest in IR.
Implementation of Accounting Reforms on IR, in 3 phases, (i) Compilation of Fixed Asset Registers and drawal of Accrual Impact Sheets (ii) Performance Costing and (iii) Outcome Budgeting was explained.
The speaker touched upon Performance Costing, which involves Activity Based Unit Costing, to enable cutting down on infructuous expenditure and optimize spending to effectively compete with market forces.
Mr.Venkateshwar was eloquent in describing the pivotal role of Outcome Budgetting (Ph-III of the AR project) and risk assessment management as an important area. The speaker also called upon Finance Officers to adequately equip themselves to be able to assess the processes involved in a project, risk mitigation, opportunity costs and application of various techniques for project evaluation, which would make finance an indispensable arm of the IR working.
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