INDIAN RAILWAYS TIES UP WITH INSTITUTE OF COST ACCOUNTANTS OF INDIA (ICWAI) TO TAKE FORWARD THE PROJECT FOR ACCOUNTING REFORMS UNDER MISSION BEYOND BOOK-KEEPING

INDIAN RAILWAYS TIES UP WITH INSTITUTE OF COST ACCOUNTANTS OF INDIA (ICWAI) TO TAKE FORWARD THE PROJECT FOR ACCOUNTING REFORMS UNDER MISSION BEYOND BOOK-KEEPING

The Indian Railways and Institute Of Cost Accountants Of India (ICWAI) Management Accounting Research Foundation (MARF) have entered into an agreement wherein the ICWAI-MARF will undertake a comprehensive study of existing Costing System in Indian Railway and develop a suitable IT enabled up-gradation of the existing system to ensure managerial analysis of costing data for efficiency improvements in key performance areas. The project was launched in a simple function held at Northern Railway Headquarters Office, Baroda House, New Delhi chaired by Shri A K Prasad, Financial Advisor &Chief Accounts Officer/ Northern Railway. Shri Naresh Salecha, Advisor/Accounting Reforms, Railway Board, Shri Arun Bijalwan, Executive Director, Finance, Railway Board, Shri R.C.Gupta, Addl. Divisional Railway Manager/Delhi and other Principal Heads of Department also participated in the meeting.

Shri A K Prasad, Financial Advisor &Chief Accounts Officer/ Northern Railway stated that the study will go a long way in realizing the Mission Beyond Book Keeping, under the leadership of the Hon’ble Minister of Railways, Shri Suresh Prabhu. He observed that the study would be challenging as well as satisfying from the professional angle. Financial Advisor &Chief Accounts Officer/ Northern Railway desired departments to contribute in knowledge sharing and project mentorship. Shri Salecha/ Advisor/ Accounting Reforms brought out the importance attached to the project by the Ministry of Railways as well as Niti Aayog and Prime Minister’s Office. Shri S K Kaushik, Chief Project Manager/ Accounting Reforms proposed the vote of thanks. 

Source:Northern Railway