IRAS Day-2016 Celebrated in Rail Coach Factory, Kapurthala

Kapurthala, November 26, 2016: `Indian Railways Accounts Service (IRAS) Day 2016` was celebrated at Rail Coach Factory, today.

Esteemed Guest Shri M.S.Bhatia IRAS & (Retired Member RCT) attended the celebration and spoke on new developments taking place in India Railways and avenues for making the Railways financially strong . He shared his valuable experiences and offered valuable advices to the batch of IRAS Officers gathered in the function. His suggestions were received with enthusiasm for career development and the healthy growth of the Indian Railways.

The One day Seminar commenced with the lighting of lamps by Shri R P Nibariya, General Manager, RCF, Sh. M S Bhatia, & others. The welcome address was given by Sh. C M Jindal, FA & CAO /RCF and he deliberated on the genesis of IRAS Day along with importance of a sound and strong accounting system of an organisation.

Thereafter , a presentation was made on a Pilot study on introduction of Accrual Accounting in RCF by Sh S P Dhingra, CA. This was inaugurated by the Hon'ble Minister on 15th March,2016.The system of Accrual Accounting is purported to improve the quality of reporting of the financials of RCF by ensuring compliance with the ‘Generally Accepted Accounting Principles’ (GAAP) and accounting pronouncements made by the ‘Government Accounting Standards Advisory Board’ (GASAB).
The upgraded Costing System will ensure online availability of costing data in key performance areas and enable Cost-Centre wise Performance Costing.

Sh R P Nibariya, GM /RCF congratulated the gathered Officers for celebrating the IRAS Day. He praised the working of Acounts Deptt in helping to complete the Pilot Project of Accrual Accounting in RCF.

The Vote of Thanks was given by Sh G S Hira, FA & CAO(P), RCF.

Sh Dawa Chherring, & Smt Manjit Kaur, ( both FA&CAO/DMW/Patiala) and several other retired and serving IRAS Officers were present on the occasion.