IFRS 16(Leases) is issued by IASB and is applicable with effect from 1st January, 2019. It has brought changes about definition of lease (as contract) and a complete setup of new accounting model, substantially different than the current one in many ways. IFRS 16 also able to facilitate capital allocation and fair investment decision making to all the stakeholders. The new standard facilitates to compare those assets acquired through borrowed fund against the lease assets in the same entity or others. Since this standard brings significant changes in recognition, measurement, accounting and disclosure in Lessee's book, IASB released a comprehensive document called 'Effect Analysis' before releasing of IFRS 16 useful to the readers and users. Business world welcome this move and expect a long lasting impact on making more qualitative economic decisions.
IFRS 15 (Revenue from contract with customer) is being applied with effect from1st January, 2017. The new standard is making a significant impact on telecom industry, because of its nature of business, where the industry profusely enters into bundle contract with the customers. Revenue is to be recognised when (or as) the entity satisfies each performance obligation. IFRS 15 is not limited to accounting treatment, but wisely impact on strategical business decision, marketing channel and internal system and processes. Currently the industry is in consolidation phase across the world, the new standard enrich this trend much faster and competitive.
Telecommunication services are globally recognised as one of the driving forces for overall economic development of a nation. They are also one of the prime support services needed for rapid growth and modernization of various sectors of the economy. Globalisation, privatisation and liberalisation accelerated all round reform in the telecom sector of India. India have adopted a gradual approach to telecom sector reform through selective privatization and managed competition in different segments of the telecom market. The results of reform in telecommunications have been much better and this is an important factor underlying India's success in information technology. Indian telecommunication sector is come out as one of the key sectors that have put the economy on a revival path. Information and Communication Technology (ICT) benefits will spread among all and will promote innovation, entrepreneurship and growth. India will emerge as a leading player in the virtual world by having 700 million internet users of the 4.7 billion global users by 2025.
In the present globalized scenario, the GST is a sin-quo-non for keeping Indian economy competitive within the country and outside the country. GST has far reaching consequences and implication and effects especially on the attainment of cost effectiveness. This is a concept which revolutionizes the face of fiscal federalism in the country and there could be a fundamental deviation from the existing powers relating to tax structure between centre and states. GST would repeal the powers to work out and impose excise duties, service tax, sales tax and purchase tax which are under the purview of centre or states. A sound, effective and easy GST regime should be implemented to all sectors of the economy. The very purpose of the GST is to bring to end existing tax administration which is based on adhocism and non-transparent tax management.
The overall analysis of impact of profitability on capital structure reveals that there is a significant relationship between debt equity ratio and operating profit of the selected pharmaceutical companies in India in case of Lupin Ltd and Divis laboratories and when we talked about relationship with net profit ratio as well as return on capital employed it could be seen in Lupin Ltd, Cipla, Cadila Healthcare, Divis laboratories, Aurobindo pharma and Torrent Pharmaceuticals. The very crucial problem in every business is financing the firm's assets and every business wants optimum capital structure which means it offers guarantee for optimum returns, but the determination of such an optimum capital structure is a formidable task in practice.
The Trade of 2014-19 should aim at doubling the India's share in world trade from the present level of 3% by the year 2020. By taking measures for import substitution on one side, the forthcoming policy should focus on increasing exports. EXIM presently known as Foreign Trade Policy (nomenclature changed from 2004-09 Policy) is considered as an Important Engine of Economic Development in India. Trade is announced by the Ministry of Commerce; Govt of India which remains valid for a period of 5 years with the amendments, modifications, introduction of new schemes, etc every year after the Finance Budget is announced.
Indian banks should adopt and establish a sound reporting process for identifying its material issues and target audience, stakeholders before embarking on the integrated reporting agenda. The more they project their sustainability the higher their stakeholders' confidence. Business is the main driving force for resource efficiency in the economy, for technology deployment and development, for infrastructure construction and providing financial services. But business can fulfill its role only if the right framework conditions -including those for reporting and disclosure - are in place. Valuing and sustainability reporting must increasingly become a more integral part of economic planning and decision-making by society, government and business.
Agriculture production and farm incomes in India are frequently affected by natural disasters such as droughts, floods, cyclones, storms, landslides and earthquakes. Susceptibility of agriculture to these disasters is compounded by the outbreak of epidemics and man-made disasters such as fire, sale of spurious seeds, fertilizers and pesticides, price crashes etc. All these events severely affect farmers through loss in production and farm income and they are beyond the control of the farmers (Raju &Chand, 2008). The need to protect farmers from agricultural variability has been a continuing concern of agriculture policy.
The participation of FIIs and the much more active participation of the investors in Indian market the markets have got more integrated over the period and the currency markets are influencing more significantly the market returns rather than being it the other way around. With the improved globalisation, the currency markets have also grown up to a great extent and have interwined themselves with the stock markets. The relationship between currency markets and the stock markets has been dynamic and showcases a different dimension for the movement of stock markets. The study focuses on analysing the dynamic relationship between the currency market and the stock market by analysing the US$/Re. exchange rate returns and the S&P CNX Nifty returns. The study considers the time frame of Jan 2001-Sept 2014. It has been found that there is significant causal relationship between exchange rate and stock market.
This study was done to search for the cost leader in the steel industry and to justify the cost leadership strategies for steel industry. Descriptive statistics was used and a modified Du Pont model was applied to observe the strategies of firms. COST leadership is a business strategy (i.e. comparatively lowest operation cost in the industry) that a firm must adopt mainly to make competition irrelevant (Steve Job).
The performance by public sector banks under PMJDY has been phenomenal, and is yet another example of a sparkling performance by PSBs who have been the mainstay of all social development programmes of the government since the nationalisation of banks in 1969. There is an urgent need for the government to undertake an exercise to compute the implementation cost incurred by the banks and compensate the banks appropriately.
As long as there is competition, prices are not administered and artificially controlled and there is emphasis on productivity, efficiency and optimum utilization of resources, the study and management of cost is here to stay. There was no specific structured study to show as to how such cost advantage can result into a competitive advantage until in 1980, Michael Eugene Porter came up with a book titled Competitive Strategy which introduced us to five basic forces driving industry competition and three generic strategies to outperform the competitors.
