National Seminar on “New Horizons of Corporate Reporting Practices: A Global Perspective”

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KIIT Deemed to be University In Association with All India  Accounting Association-Bhubaneswar Chapter Organizes a National seminar on “New Horizons of Corporate Reporting Practices: A Global Perspective” at Seminar Hall-1, Campus-6 on 17th November, 2018.

Setting up the context in the inaugural session, Prof. Sasmita Samanta, Registrar, KIIT DU said that in the Indian perspective, we should be grateful to three persons Fakir Chand Kohli, Narayan Murty and Azim Premji, the Founders of TCS, Infosys and Wipro respectively for their vision, sheer determination and perseverance by dint of which they have changed the stereotype image of our country.

“We have come a long way in having the largest technical pool of manpower, who are trained with  different technology. We are deficient in gaining Core Knowledge and because of that scarcity, the western nations are dominating us in acquiring the technological knowhow.” She urged the KIIT students to enable themselves for Corporate Reporting  and  they should emphasize the world of innovation, as innovation has become the buzzword in the campus.

Gracing the occasion as Chief Guest, Prof. Nageswar Rao, Vice Chancellor, IGNOU said, “the theme preset for the today’s seminar, is nice one  from the global point of view. I feel that all things have been changed as far as Corporate Reporting is concerned and  become irrelevant in today’s milieu. As competition is gaining grounds in the Corporate Sector, the deadline is  gradually being constricted for submission of the report.

In contrast, 1 year, six months or three months time was the deadline for report submission in the corporate sector. But  today, reporting is needed within every day, every hour or even every moment. More Innovation Reporting are being done at present times because of On Line System and Social Networking. With the onset of the frequent changes in Corporate Reporting, decision making potentialities  have to be enhanced”, remarked Prof. Rao.

Guest of Honor, Prof. Rajendra Prasad Das, Vice Chancellor, Berhampur University said that we should emphasize reporting in order to make ourselves  more visible in the global perspective. Because of the demands of different types of stake holders, changes in global environment, political interventions and global competitions, every organizations need to change its reporting practices. He stressed the need of Educational Reporting apart from  Corporate Reporting and added that while reporting, people’s interest should not be compromised.

Gracing the occasion, Prof. B.P. Singh, who is hailed as the Pioneer of Indian Commerce highlighted the role, objective and mechanism of Corporate Reporting. He said that we should kindle such Intellectual  Capitals, i.e. the universities and make it vibrant in order to substantiate ourselves as committed personalities.

Prof.  Ranjan Kumar Bal, President of All India Accounting Association-Bhubaneswar Chapter said that such National Seminars are learning process and we are proud of our country, i.e. Incredible India.  In fact, the Accounting discipline often plays an important role. We have seen many changes, as far as corporate and financial reporting are concerned. The reporting practice in India is very poor. “In adoption of new reporting, we all have to play significant  role to involve ourselves  in the process”, he added.

Prof. Jayanta Parida, Organizer of the Conference, who  introduced the guests to the audience,  proposed  the Vote of Thanks at the conclusion of the Inaugural Ceremony.