The Kochi Chapter of ICWAI (Institute of Cost and Works Accountants of India) conducted an interactive session on the latest developments in Cost Accounting Standards, Cost Accounting (Record) Rules, and Cost Audit Rules.
Inaugurating the seminar, the Minister of State for Consumer Affairs, Food and Public Distribution, Prof K. V. Thomas, spoke about changes that information technology has brought about, and the opportunities liberalisation and globalisation have provided for cost accountants.
The keynote speaker, Mr K.G. Joseph Jackson, Registrar of Companies, Kerala and Lakhswadeep, emphasised that the changes brought about by the Ministry of Corporate Affairs (MCA) have enabled new companies to be registered within a day.
Mr B. M. Sharma, President, ICWAI, spoke about the change of name to ‘cost and management accountants'.
Mr M Gopalakrishnan Vice-President, gave an introduction to the changes to the Cost Account Record Rules and Report Rules.
The Chapter felicitated Ms Anakha K. P., a student of the chapter, for securing all- India second rank in the final examination of the ICWAI held in December 2010.
Mr S. Ramdas, Chairman, ICWAI Kochi Chapter, presided over the meeting.
In his speech Mr Sunil Chacko, past President of SIRC, ICWAI, spoke of the activities of the chapter, and how cost accountants are assisting the municipalities convert to the double-entry system of accounting.
Mr Kunal Banerjee, past President, ICWAI, Mr G. N. Venkitaraman, Immediate Past Chairman, Mr A. Om Praksh, Central Council Member elected, and Mr K. M. Babu, Chairman, Chapter Professional Development Committee also spoke on the occasion.