About India Accounting Association (IAA)

The Indian accounting association is an interface between academicians, professional and practitioners from various universities, business, industry and government. The main function of IAA is to promote and disseminate the knowledge of accounting and the related subjects in India and abroad. Further, it aims to undertake and encourage research in the field of accounting. Ever since its inception, the IAA has served as an important forum for raising the status of accounting both as a discipline and as an important tool for managerial decision making.

The association was founded by academicians and professionals in accounting on March 15, 1969, and was inaugurated on February 14, 1970 by the Accountant General of Uttar Pradesh at Banaras Hindu University, Varanasi. The association is registered under Uttar Pradesh Society Registration Act No. 21, 1860 No. 1429 / 1968-69, with Registration No. 5058/ 1 / 1983 / Date 17/03/1969 at Lucknow. It is a member organization of International Association of Accounting Education and Research (IAAER). It is also held in high esteem by American Accounting Association (AAA). At present, IAA has a network of 61 branches in India with more than 8700 life members, and a Research Foundation as an affiliate at Kolkata. It also brings out a biannual research journal ‘Indian Journal of Accounting’ in the months of June & December to give wider publicity to research findings. The Association also gives IAA Young Research Award and IAA fellowship. The Association offers Life Membership and Annual Membership for Individuals and Institutions through its chapters across India. Past conference have attracted a large number of delegates from across the country and abroad.

With the recent traumatic experience of accounting mismanagement and its catastrophic outcomes, it is expected that the information of the business activities, especially of the corporate entity, should not be presented in distorted manner. To eliminate distortion and to maintain uniformity in preparation of corporate report, the role of accounting standards is significant. The employment and use of accounting standards is not confined to the Indian context only but, the liberalization process has compelled the corporates to think about synchronization and non- synchronization between Indian accounting standards and accounting standards of other countries where these companies are doing business. Hence, from the view point of different stake holders the deliberation on corporate reporting and accounting standards in the global scenario can considered as the need of the hour.

Being a branch of social science, the role of accounting has been changing the economic, social, political and cultural development over the last few centuries. At the same time, facilities of transport and information technology has drastically reduced the geographical distance extending the role of accounting from national to global level. Consequently, to keep pace with changing environment ceaseless work inevitable in the subject of accounting.

IIn the International seminar on ‘Accounting Education and Research’, the main focus would be on recent academic developments related to this area, in the global context. Out of several factors three significant factors which have vital influence over accounting and on its process have been chosen by the association for this conference are:

 

• Corporate Reporting and Accounting Standards

• Domestic and International Capital Markets and

• Taxation: Domestic and Global Issues.

 

With the recent traumatic experience of accounting mismanagement and its catastrophic outcomes, it is expected that the information of the business activities, especially of the corporate entity, should not be presented in distorted manner. To eliminate distortion and to maintain uniformity in preparation of corporate report, the role of accounting standards is significant. The employment and use of accounting standards is not confined to the Indian context only but, the liberalization process has compelled the corporates to think about synchronization and non- synchronization between Indian accounting standards and accounting standards of other countries where these companies are doing business. Hence, from the view point of different stake holders the deliberation on corporate reporting and accounting standards in the global scenario can considered as the need of the hour.

Industrial growth and economic development is highly depend on the capital market and capital market plays vital role for corporate form of business. The creation of long –term funds is not confined to domestic level but can be raised from international markets. Academic deliberations on evaluation of the capital market from the point of view of different stake holders at regular intervals is needed to produce concrete outcomes for better functioning of capital markets at primary and secondary levels. Therefore, the discussion on ‘Capital Markets: Trends in India and Abroad ‘has relevance in the present time.

The history of taxation is as old as government. The welfare of the society is based on effective and efficient tax management. The scope of business now is not confined on the local level, state level, national level but it has expanded at international level remarkably in India due to liberalization of economics policies of the government. At the same time various direct and indirect taxes imposed, removed or modified by the government from time to time as per domestic needs and due changes at global level. On the other hand globally expanded horizons of the business involves them in tax formalities of the respective countries where they do business. Hence domestic provisions and international provisions of tax make tougher job for the corporate because scope, procedure e.t.c. bring complexities in the tax management. So, identification of various problems and anomalies in taxation and their remedies will be the output of this conference.