Best Presented Accounts

Conditions for entry to the annual competition for the Best Presented Accounts:

       The entities are divided into 4 categories:-

          Category I – Includes all non-financial public/joint sector companies (Sec.619 &  

        Sec.619B of Companies Act are applicable) as also non-financial statutory

        corporations.

          Category II – Includes all non-financial private / joint sectors (Sec.619 &  

         Sec.619B of Companies Act are not applicable).

          Category III – Includes financial institutions, banks and financial companies

                                in both public, private & joint sectors.

          Category IV – Includes entities like Port Trusts, Municipal Corporations,

                                 Public Utilities not registered under the Companies Act,

                                 Co-operative societies, Public trusts, Educational & Research

                                  Institutions, etc.

       Awards are as follows:-

         Category I - A Silver  Shield for First Best Presented Accounts & one Plaque for next   

                              highly commended accounts.

         Category II -A Silver  Shield for First Best Presented Accounts & one Plaque for next

                              highly commended accounts.

         Category III - A Silver Shield for Best Presented Accounts

         Category IV - A Plaque for the Best Presented Accounts.

       Accounts should relate to any day between 1st April and 31st March of next

year.

       Six copies of the following documents should be sent to the Secretary, Research Committee, ICAI, New Delhi, so as to reach before the specified date:

       Balance Sheet.

       Profit and Loss Account.

       Director’s Report.

       Chairman’s Statement or speech at AGM.

       No form has to be filled up and no fee is payable.

       Cyclostyled copies of Accounts & Annual Reports will not be accepted. This condition does not apply to those covered under Category IV.

       Decision taken by the panel of judges appointed by the institute in their regard

will be final.

Important factors generally considered for the Award of shields and plaque for the Best Presented Accounts:

       Compliance with the legal requirements in the preparation and presentation of

financial statements as specified by the Companies Act, 1956 & relevant statutes.

       Basic quality of Accounts as judged from the qualifications in auditor’s reports, notes to accounts & compliance with generally accepted accounting principles as recommended in AS, Statements, Guidance Notes etc., issued by the ICAI and its various committees.

       The nature quality of information presented in the accounts to make the

disclosure meaningful.

       How informative are the Director’s Report and / or Chairman’s Statements?

       The quality of printing and general presentation.