Lecture meetings:
Service Tax Amendments — Point of Taxation and CENVAT Credit
At this lecture meeting held on 16th November, 2011 the speaker Sunil Gabhawalla, Chartered Accountant, explained the recent amendments relating to Point of Taxation and CENVAT credit, discussed important decisions on the subject and answered queries raised by the participants. The webcast of this meeting is available on BCAS Web TV.
Recent Developments in AS/IFRS/Ind AS — Global and India At this lecture meeting held on 6th December, 2011 the speaker P. R. Ramesh, Chartered Accountant, made a detailed presentation on recent updates on the subject and various issues arising therefrom with special focus on IFRS 1, IFRS 3, IFRS 7, IFRS 9, IAS 12, IAS 19 and IAS 1. The learned speaker also covered new pronouncements which are in the pipeline and other changes to the framework for the Preparation and Presentation of Financial Statements. The webcast of this meeting is available on BCAS Web TV.
L to R: Deepak Shah, Vice President, Anil Sathe, Ameet Patel, P.R. Ramesh, Speaker, Pradip Thanawala, President and Mukesh Trivedi Web TV.
Other programmes
Two-day comprehensive workshop on Valuation
The Infotech and 4i Committee had organised a two-day comprehensive workshop on Valuation on December 9 & 10, 2011 at the Walchand Hirachand Hall, IMC, Churchgate, with the objective of introducing members to valuation as an emerging area of practice. The workshop was attended by over 100 participants, including several participants from outside Mumbai (including two from Dubai) and from industry.
Pranay Vakil, Chartered Accountant and CEO, Knight Frank, delivered the keynote address and presented a curtain raiser on the Art and Science of Valuation Practice. He said that value of any asset is driven by scarcity, utility and transferability thereof. The participants also benefitted from experiences in real estate industry shared with them by Mr. Vakil.
T. M. Rustomjee, Senior Director, Deloitte, gave an overview of Business Valuation and shared his experiences and stressed on need to go beyond numbers to understand true value of a business.
Sujal Shah, Chartered Accountant, introduced to the participants various methods of valuations and emphasised on importance of common sense and logic while applying the methods. In another session, the learned faculty also discussed various case studies including famous 1:2:2 model used in merger of TOMCO with HLL.
Satish Deshpande, Head PE Practice, NV Capital Services LLP, presented “Users’ Perspective” and discussed how PE investors and fund managers look at valuation models.
Pinkesh Billimoria, Chartered Accountant, discussed in detail important and topically relevant DCF Method of Valuation and elaborated on various issues such as cost of capital and terminal value.
Jayesh Gandhi, Chartered Accountant, enlightened the participants on importance of analysis of historical results and issues in future projections.
Sharad Abhyankar, Advocate, discussed several important case laws on Valuations.
Shariq Contractor, Chartered Accountant, elaborated on art of report writing including disclaimers.
The participants gained immensely from the wealth of knowledge and experience shared by the learned faculty. The workshop was co-ordinated by Manish Sampat and Nandita Parekh with valuable inputs from Sujal Shah.
L to R: Nandita Parekh, Pranay Vakil, Speaker, Ameet Patel, Pradip Thanawala, President, T.M. Rustomjee, Speaker and Kinjal Shah
In life and business, there are two cardinal sins.. The first is to act precipitously without thought and the second is to not act at all.
—Carl Icahn
