 So, let me welcome everyone back, we ended at this point, now we are coming to the major part, the solutions, I have prepared some solutions step by step and the last we will have a blank slide to cover up all the solutions. And don't worry all these slides I have already posted on my site even including this I will be putting it, I will be giving at IIT Bombay also, they will be even putting at their common platform and you can share it, first step you have already taken it that was the coordination approach, step two we are as we discussed about the operational manual ready. If you see as all of you were discussing about different volumes etc, I have already in my slide, when I prepared this I was very clear that it should have a different volumes, so volume one, volume two and volume third, volume one will be the basics, only basics and volume one will be common for everyone, such as you requested that it should be different, volume one sir there is no need for it, volume one is common because the principle of accounts is that it is common for everyone, it is never gets changed, but volume two I will be discussing now, volume twos certainly will be different for everyone, will be different and of course in volume three, in volume three financial statements will be common, you can divide in two parts, volume three, a part financial statement, volume three, b part only the MIS management information system report, because at every level I know your management must be asking different reports, give me student wise, give me fees wise, give me collection wise, give me area wise, give me course wise, for a particular workshop we do it, give me the revenue, generally management institutes conducts MDP's management development programs, how many students are there, how many revenue are there, how many profit are there, those reports, that will be the MIS part, you can see the national municipal accounting manual, I will give you the link, it is available in the site, that is for municipal bodies, but almost 70% is exactly same, you can download from the site and you can start even reading it, if anyone is interested, so operation manual as I mentioned is only the guidance document, it will be a step by step solution and it is never prepared by consultant sitting at the office, it involves major ground work, they always interact with the sample universities, sample colleges etc, then they take the feedback, take the questionnaire ready and then they include sample transactions, next training should be on the job, for each and every format, how to record the entry, how to record the asset, perfectly fine, that is the right approach, so when I have suggested the quarterly workshop, quarterly workshop should be done more on the formats, how to fill the entry formats, how to pass the entries for the formats, so that each and every step is included in the manual, so purpose is only that once this document is there, at least 90% to 95% accounts are uniform or consistent, I will not say 100%, 100% never, because everyone has their own platform, way of working, I will be talking about in Kashmir, they are still following the manual accounting, computer is not even over, very tough, because I still remember when I started my C article in 97, hardly any computer is accounting, so my boss used to give me trial balance and I used to find out the differences, which was very tough, but now at least once accounting is through the software, our task become much more easier, the purpose is the operational manual may like a user guide, it should have it, if anyone is still following cash accounting, then how it can be transferred to double entry and to the actual base, that step, I am just giving a rough idea, actual might be different, what it should include, this is, if you ask me it is very very important, just tell me, because I was not able to find out in your annual reports, I might be wrong, anyone, any institute, are they following any charts of accounts or code of accounts? I am from Bisoharthi University. Sorry? Bisoharthi University, West Bengal. Okay. Sir, we are following chart of accounts, code of accounts, every accounts coded. What? What is from starting or which was the year in which you started this? We have our chart of accounts, but last year we have modified it according to the new format and we have already prepared the chart of accounts. Are you finding any advantage of the coding? Yes, any advantage you can share with us? Actually, the classification is very easy, you can find out in which major area it will go and some specifications there. I am telling you, if anyone is not using code of accounts or chart of accounts, that's the best way to ensure that transactions are not mismatched, because in chart of accounts, I will be sharing it, I will be sharing the structure also. If let's suppose you go outside Bombay and once you go on the street, every street lamp has a number. Even IIT, if I remember correctly, each the chair must be having the number. The purpose is if I take this chair at my home, at least I can pinpoint where that chair has gone. Someone was saying to me that they are mainly getting the funds from the external agencies. It means they are getting funds from let's say three sources, government grants, from external agencies somewhere and from let's suppose direct help. If 5 lakh is the grant I have received from the government and I have spent that on fees, on assets, then if I use a code as a prefix, I can immediately say let's suppose here. If I just say I am receiving grant from government and calling it number one. Number two, let's suppose for any external agency and if I am using this for fees and let's suppose this code is 20 and I am using this for assets and I am using this code as 30. If I write 120 or at 130, in front of the fees or the asset, immediately I can identify that this fee is from this one. This one will indicate it is from the government. If similarly external let's say, again 20 fees and let's say 30 assets. Now if I write 220 and 230, anyone can identify that where you have got the money. It's very easy. The misclassification generally is ignored here. And codes of accounts is I am telling you it's a big task but if it is prepared in one month or two months, I am telling you from my experience your 90% calculations are over. You don't need even any help. You just need an external help for this. This is prepared and no external agency can prepare this without your help. You will have to tell you and these codes of accounts are never exhaustive, never exhaustive. But it's so important once these are there, your major task is ready. I'll come to policy later but let's discuss about the charts of accounts. It's like this. If I take an example here, in front of you I've taken one example of your institute. Let's suppose our major code, major code I have taken has received. I have taken number one and minor code I have taken fees. Fees can be what? Admission fee. In university the fees can be let's suppose college can have undergraduate student fees. They can have a fees from a post graduate student. They can have a fees from a PhD student. They can have a fees from other than PhD student. I'll take an example of SRCC. They are running BCOM course, Eco Honors course, MCOM, MA Eco Honors. They are running one diploma course, Global Business Operation, GBO. Different fees and all will be clubbed under one head. Fees. If today your management is interested, or let's suppose MHRD asks, please tell me how much money you have run, you have got it from your self sponsored courses. Because all organization must be running some self sponsored courses. Once we add everything, it's tough. Otherwise we'll have to prepare a separate account. It's coding I've benefited, I've put a number. Immediately filter okay. Excel may filter okay. Excel filtering will help this. We can just add this. Give the filter. Now you can see if my final code is 1101 or 1102 or 1103. Can't I say how much from PhD, how much from undergraduate or post graduate? This is just one example. You will be surprised in one of the projects. We have also taken up project codes, project codes. Because if there are some projects going on and from that money you have created some assets. If you put a number before that, you can identify this asset was given by whom? In most of the universities, colleges, alumni, donates a lot of things. I remember in SRCC, most of the laptops are being given by the alumni. It's a free of cost gift, but some laptops are purchased also. If you do not provide a number, it is very tough. Let's suppose tomorrow alumni comes and says, please tell me where are my laptops? With whom? How you're maintaining my laptops? Do you want a replacement? If you're not maintaining a proper register with a coding, it's tough. Because anyone can ask, if anyone is giving you a gift, he has a right to ask whether it's properly used or not. If I remember correctly, in most of the universities, colleges, many teachers create funds in the name of their relatives or in their own name as a benevolent fund, as a prize fund. I remember in Khalsa College, one of the botany teachers, his wife expired and she was a botany professor. So he created an FD in the bank of the Khalsa College and said that any interest out of that FD should be used every year to give the awards to the person who scored highest marks in botany every year as a prize fund. You have received money not from the grants. You have received from the any professor. So that coding will help you. So kindly, kindly, if anyone is not following and telling you it's a transitional phase, go for it. Sir, it happens in Delhi as well. There are cost centers in Delhi. In Delhi, we have done it at the Kabul. In Delhi, we... Sir, in Delhi maybe, if you want, you can create a default cost center. Sir, I think... Sir, I think... Sir, wait a minute. Let's not go in detail. We have done it. I can show the Kabul file to you. We have done it at Kabul. It means I am not the IT guy, but there we had taken the help of the IT guy and created it. He has even created project codes, location codes, major code, minor code, object code and detail code. Everything they have done it. I can show the file to you. Kind of... Sir, there is no minimum digit. If you feel 2 digit is surface, go for 2 digit. But generally, starting part is 7 to 8 digits. You have to see. Please, coding is there is no minimum digit. Let's suppose today, today you fix only 2 digit. And later you feel more thing has to be added. You'll get stuck. 2 means only up to 99. 0 1, 0 2, 0 3, 1 10, 99. Let's suppose if more than 99 is available, you get stuck. Go for the higher 1. Go for 3 digits. Go for 4 digits. Dad, you have to see it. But guarantee it, sir. You can ask any IT guy. If you want, I can just share with you one file. Just see, sir. This is the code which I have just prepared for my project. We are doing a project known as CBUD fund, Capacity Building for Urban Development. Number one. As per the budget, we have two components. Component one and third. There's one component two also for Ministry of Housing, Urban, Poverty, Elevation. There's component two. So whatever budget we get it, it is classified in two heads. When I pass the entry, because this work, I have to do it as a part of the project. We get under three heads. Administration, other charge is professional. It can be easily done. Now it becomes very easy for me. If I just filter the transactions, I get it. You can see, whatever fees we are paying, it has three heads. Professional fee, out-of-pocket, service tax. How much for service tax? How much for professional? How much for out-of-pocket? Because many times you must have seen it. You cleared professional fee, but you stopped service tax. Because service tax generally you clear it when a consultant has deposited that and submitted a challenge to you. Then you reimburse it. It means professional fees cleared, but service tax is hold. How much service tax is payable? It becomes very, very easy. Very, very easy if you have a quota of accounts. If anyone is not following, I'm telling you, it's the right way, right start. Starting step, even in the operational manual, if sir agrees, it can be there. Orange one. Major code. Sir, this is not defined anywhere. You can even create a lot of heads, a lot of separate heads. You take it here. You can create fund-wise, earmark fund, corpus fund, general fund. Separate funds, you can have it. That is fund-based accounting. Sir. Is there any scientific procedure with you for starting or coding? Sir, scientific procedure. Scientific procedure. Sir, there is no, I am not a science student. I am a commerce student. Science is here. No, I am not telling science. I am just kidding it. Any technical procedure? No, there is no technical procedure. It's a simple logic that you start from. Suppose receipt, major head is received and payment. How I will start the code from receipt and then. Sir, if you see it here, I have not never prepared the accounts of any education body. Still have prepared for me experience, no? I had just read your annual report. Just see. On your receipt side. Your code is start with the receipt head, start with one. If I start with two, then what will be the harm? No easy. No harm. See, why I have created one. There's a reason. Why I have created one as per the government document available. In that coding is this. They use one for receipt, two for expense, three for the use for liability, four for asset. Technique. No, it's not technique. Yes, it is one of the procedures. Sir, it is not given. Yes, yes, yes. It's not given as an act. It's just a follow-up. Consistency. So I have followed that one. There is a specific list of major and minor head of the central government. It is. Sir, but frankly speaking, don't take otherwise. Dad, book is not exhaustive. Okay, that is not exhaustive. But one can. It creates a lot of loopholes. I am telling you. Okay. But one can take the guidance from that. Sir, if you wanted a guidance, I'll give you a document. Just see in front of you. I'll open it. It is available. You want charts of accounts. Entire chapter is available. This year, this was the exercise done long back in 99. And then after that state manual prepared. That was the reason when I started my session two days earlier. I started with this. It's exactly the same reform which is happening now. You can see it. That's a structure. Just see, sir. You can have a budget center. You can accounting centers. There is no limit. It's just a structure which has been created. Left to the bodies. And you go to the site. You will even find a lot of state manuals. Just see. I was a part of it. So we have prepared this. And it is a manual. You can have a state manual also. It's available in the Google. All are available. But this will help you. So this was the major part. You have not prepared the codes of accounts. Kindly get it done. Then the major part. You all have to get agree at least at your level. For the uniform accounting policies. I'm telling you. I have already taken the accounting policies. Just remember two parts. True and fair. At least get your accounting policies perfect. Don't even think that whatever we have been doing is right. Kindly refer at least two or three more documents. Kindly refer two or three more organizations. Just see what you can add. What you can delete. This will always help you to improve. If you think we have our statements are perfect. We will never be able to achieve the right concept. Accounting policies. If it's right. This just two steps. Accounting policies and charts of accounts. If these starting two points are right. After that is only a training. Common formats are given to you. Formats are given to you. Nothing to be changed. Only charts of accounts. And accounting policies. Only training. Nothing else. You all are so expert in accounting. It's just a change of format. So accounting policies are step three. Step four. I was talking about the charts of accounts. I have got. I hope you have got the idea about the charts of accounts. And the benefit of it. This is the major part. Because when I was reading a lot of annual reports. There was huge comments about the statutory terms. There was no physical verification of the books. There was no physical verification of fixed assets. Fixed asset register was not updated. They are common comments. So it means even even there were one more comment. That some assets were not recorded. Stating that university or the organization has given the clarification. It was gifted to us. And we felt gifted assets should not be recorded in the books. That's the reason we have not even recorded it. So that's the reason that if you don't record it. The fixed asset register will not come. Guaranteed. So this is a major part. Make sure that you get the asset register ready. I'll come to the meaning side of the major part covered. That is identification of the assets and the liabilities. If these are ready. Then acral accounting can be easily done. Just pass the entries at the last. Fixed asset register. You can have this classification. You can have the coding the coding in this way. Who owns it? It may be clarification or temporary structures. If you go if let's suppose it doesn't belongs to you. Then create a separate ownership. It means there will be two code for one you are the owner. For one you are not the owner. Location where it lying. Because they can be different different regions. Where exactly it is lying. What is the value of it. What is the definition of it. You have written it. This is I have just given a sample classification. Sample. You can have even this type of classification. Why I have taken this. It is generally followed in most of the organizations. Most of the government bodies are following this. Property can divide separate. You can divide land separate and building separate also. Infrastructure asset I already had discussion. If you are making roads. As you remember in Khalsa college they have created townships. Township for the professors. Logically the roads are there. There are street lamps. Plant and equipment is a major part. When I was seeing the fix as a schedule. The major items are under this head only. Furniture pictures of course normal vehicles. Others can be your books. You can you can even create a separate head for intangible assets. Sources can be this. You can purchase from your own funds. Then again a separate coding. It can be gifted. There are a lot of assets which are gifted to you. I can have a separate but I am telling you. Because fix asset register trust me. When I was reading I might be wrong. When fix asset register I was reading it. The fix asset schedule does not classify the funds the source. It only talks about the assets. You can please don't even look at the format given by the organization. You can create some separate sub rows or columns. In that fix asset schedule just create these are owned by you. These are not owned by you. These are created from government funds. These are created from external funds. These are gifted. And normal opening balance. Addition. Gross block. Depreciation. During the year. And net block. You have only classified a separate. Classification. What I am telling you trust me. You will help me. And if you create a good MIS. That appreciation comes to the upper level. You can create a very good pie chart. Out of 100% assets. 20% of owned funds. 80% of the government funds. Etc. And those pie charts you will be able to prepare only. When you have the data available. When the data available will not be there. Will not be there. Yes sir. This is the government funds available. What sir sir? Please please please. No sir you can create one more head. Fund it from the external agency. Yes sir this is just. I have created a sample. It is only sample. Illustrative is this. You create more heads. Who said this. Location. If I talk about location. Location can be different. In IIT itself they can be physics department. They can be chemistry department. Separate locations. You can create separate. Why not. Most of the professors in IIT IM. Do their own projects. Or specifically projects KLA. They create the assets. UGC always give the fund to the professor of the colleges. They do the project. The asset is created. And after that it is transferred to them. As always there. I hope you remember this method. Now it has been allowed. So if anyone wants to use a production method unit method. I had explained to you yesterday. About the projector, printers, bulbs. Production unit of machine hour method now it is allowed. It is very simple concept to apply depreciation. Very simple concept. I will take an example how to use this. If anyone want to use this. Let's suppose I have taken a projector. Because production unit or hourly method are same. And on the box it is written. It can run for 20,000 hours. And when you purchase it. At least you know because projector whenever it's purchased. You know the estimate use. I am expecting when it will be sold. It will give me let's say 1000. And this projector is costing me 31. We use it in our centers. When we purchase it for our classes. We know that it will be used for these many classes. These many number of classes. So if I know in first year I will be using for 5000 hours. In second let's say 8000. And then let's say 7000. So it means if I want a depreciation for year 1. It's very easy. Very easy. 5000 hours out of simple. Into the cost. 31. Minus the scrap. That's a depreciation first year. So even please do not go by the rate. The problem generally as an accountant we do it. Even I used to do it the same mistake. Okay the rate is given. The base is given. Apply data. You have to see the usage. You have to see the actual usage of that project. That's it. Year 2 if I go. Very straightforward. 8000 by 20 is same. And the last simple. You get a depreciation. So these you can use it. If you are feeling that rate given. In the act. Is not justifying the usage. You can use it there. I'm not saying always. Use in those cases. Where you feel. That the rates given are not proper. If you remember yesterday when we discussed it. Yesterday when we discussed I have always discussed. How to find the rate also. Do not go by the rates given exactly. Those are only the illustrative guidelines. If you actually read the schedule of income tax properly. They always say it's an indicative list. Indicative list. No one stops if you apply the higher rate. I'm telling you if anyone is using income tax rate. Kindly devote half day and read section 32 properly. Section 32 make clearly look aware. A higher rate of depreciation is allowed. Is allowed. No one stops that. These are indicative rates. Section 32 as a yes ma'am please. Ma'am that is a revenue expenditure. I we have discussed earlier. Frankly speaking it's very thin line. Between revenue capital very thin line. The management decides whether the it is it will. Give the benefit in the future. Maintenance expenditure repair expenditure. Are only to maintain the same level. They are never never added to the cost. No they don't add to the cost. But do they I think it helps in determining the useful life of the. Whenever I'm incurring the maintenance expenditure right. That are always taken to the income expenditure. In the useful life. You will only revise the useful life if. Due to that expenditure your life is about to increase. Yes that's a what. Then of course you will take it. You will also add it to the cost. If you remember yesterday when we do example of computer. There was a computer. Because if we want to increase like. Say in the north east the roads are in difficult terrain. So there was a requirement to raise the depreciation rate for vehicles. So by this calculation we have. Arrived at a higher rate. I agree. Exactly not followed the rate of rebate provided. I still remember I went I went to Sikkim. So Sikkim a gang top may now they have a one lane. And logically the roads have been constructed again. So guaranteed if you are constructed again and it is a good quality. So logically that is a capitalized expenditure. And you can use it for a estimation of the life. Let's suppose you have only the ground floor earlier. Now you have created two more floors because number of students have increased. So that building life will increase at building cost will be added. So now depreciation will be charged and revised again. Renovation if you are adding it capitalized. But if you are just going to whitewash. It's never added. Normal whitewash of the building is never added to the cost of the asset. Sir I got first. So that is to be capitalized. So that is to be capitalized. Now you have used the latest material simple. Sir. Sir you have seen a new revenue capital like as a concept. Which a management has to be decided. If you feel yes it is a huge expenditure. And it will increase the life. Add to the capitalization. Accounts may clearly teen principal is 10 may fast. It should increase the life. Second second it should increase the efficiency of the business. Third management should be able to sell that in the future. If you are able to comply with any of the condition then capital otherwise. You have put first. First you feel that life is increasing and in the future the business efficiency will increase. Take it. Difference. You know it revenue will be charged in one year. Capital will be charged in the form of depreciation over the years. That's the difference. 100 rupees today or 100 rupees in five years. Difference will be there. But that's a major part. Of course this we have discussed it I won't go in detail. If you remember there are mainly three types. If you are receiving as a gift we have discussed at a normal value. If you are acquired through government grants we have discussed two approaches. Net or gross. I hope yesterday Anand must have taken in detail. But still before Anand I have already taken this part in detail. You have to gross over your net. Your choice. AS 12 permits both. Impairment part I have discussed it. Do not in your life forget is AS 28. Because this any time if let's suppose there's a fire at any of the building and your some of the assets have been destroyed. And you are still charging a state land depreciation. And sorry you are doing a wrong part. You should write off immediately. Is it clearly like AS 28 may write down to the net realizable value. Immediately revalue the asset. Anyone ask you the reason give AS 28. Any auditor says just tell them go and read AS 28. Any auditor I am telling you will get satisfied if you give a reply of the base. When you give no no we have done this because management said we have done this because we have got approval. No one agrees to that such solutions. Very simple ask any let's suppose this chair right is destroyed. No paper available at least in the market there are scrap dealers. Scrap dealers will tell you at what price it will be sold. Zero it means the entire part is a loss in that year. Now you cannot show that asset in your fix as a schedule. If that chair has been totally destroyed document destroyed. Then that chair cannot appear in the fixed asset schedule sir. Cannot if you are still showing this chair it means it's like a dead body. You are still showing a dead body as alive. It's very simple. Let's take it here. If in my fix asset schedule I was having computer. I was having plant. This is gross block. Let's say 100 let's say 80 right net block 30 let's say 60. It means there must be a depreciation of 70 here 20 here. Now let's suppose this entire computer was destroyed entire. So guaranteed no realizable value in the market. No one will purchase it. Zero value. So my computer will go. I cannot show in my fix asset now. Now depreciation gets debit. Sir I hope entry today is right. Thank you sir. Sir I am making a full entry. And there will be loss of 30 paper. Some some people directly subtracted 30 to capital F and also. But logically it should it should route through in the expenditure. My point is that computer should be of zero value because the value is not there. The computer is zero P okay sir. Sir now. Sir sir sir now in the new fix asset. Plant. Plant's gross block 80. Its depreciation 20 plus during the year's depreciation will come. That's a 10. And net block will 50. No computer. Computer you will write discard during the year. Just scrap during the year. Let's suppose let's suppose here I am assuming it. Then logically if it is at giving you let's say 20 rupees. You will still record it 20. It's very simple logic. So it's kabhi bhi loss. So just remember revaluation as 28. I'm just giving I'm not teaching but otherwise as 28 is huge huge. I'm just giving a very simple any loss where you're feeling that the value has been decreased. Immediately use revaluation concept or as 20. Right sir. Some organizations so net basis net assets are there. How depreciation is coming. Sir sir sir. We have to create the provision of depreciation. Sir you have to sit with me I'll tell you the. The provision return back the depreciation. I'll take it this is gross approach. Yes if if if you're not preparing this. Then computer will be directly recorded 30. That's a simple entry ad gets removed from there. If ad is not appearing in the balance sheet it gets removed. Entry will be directly. Ad you use a different name ad account provision for depreciation depreciation fund. All are same. All are parayavachi or synonyms. Same name. That's a net approach. But why you follow this because companies act you you guys are using depreciation at a company's act and companies act clearly says use gross approach. That's the reason and I'm telling you use gross approach. If you're using net approach it will not help you because net approach make loss. You are not able to identify the actual cost of the asset. So kindly if anyone is using net approach don't use it. Net approach me always is a trouble at what price the asset was purchased. You can never identify actual loss. You are not able to identify. Right sir. Nani net approach of yes only sir. So suppose I made an entry following the net approach. The asset is depicted in the balance sheet at rupee one. And the library decide also one rupee one rupee only. In that situation if the loss is there. Simple. That entire loss entire loss of profit will become your income of that year or loss of that year. That's what I'm asking because amount is not there. It's rupee one only. If you remember I have discussed yesterday you keep on preparing your fix as a schedule. You know the book value at least in the fixed asset. But that book value is not appearing in the balance sheet sir. Yes that's what I'm. That's the reason whatever you whatever is the loss at that time is immediate loss during the year. It means if let's suppose this cheer is loss. Not appearing in the books you ask anyone what was my loss. He will say whatever you have purchased at that time what was the cost. That is a loss. And frankly speaking it cannot be a loss because it's not from your pocket. That is true. Don't even show it. So that there is no need to show it. Just in the notes I got. Yeah it will come in the notes only. Simple. And if it has realization value something is there then it would then income. Cash could have it. Now the major part please. Sir this I have just created some topics for the workshops. We will we can add it also delete. These are the some regional workshop topics I have added. You can create regional workshop accounting standards. We can have a software training separately once it is ready. Or even we can have some one or two hour session from different vendors. You tell us what are the software available. Good software. But there was a discussion during the break that software price should be fixed. Otherwise the person who has developed the software may try to misuse it. I'll take example E governance. It's a foundation NGO foundation of Infosys. They don't even charge a single rupee for a software. You don't even charge single rupee for the software. It is a developed and they distribute free of cost in daily they have given to MCD and DMC Hyderabad they have given it. They only charge a cost of the customization. If required if our management says we don't need any customization. It's fine enough. Then no no charge. So whenever any software is to be used. What I believe the correct me where I'm wrong. There should not be any cost because it is being prepared by the ministry and the ministry property. Only for the customization if required the charges can be there. Then one national workshop. I'm looking at it. Not now. Later when a national workshop only for the formats. And regional workshop can be of the senior people also. And the hand holding training by ICI to create accounting cell at the regional level. And whenever any organization writes any query immediately a reply should be there. These were some discussion which we had in last two or three days. So when the operational manual is prepared or training material is prepared. At least a solution to these questions should be there. Which depreciation rate we should follow. This was a common query from everyone. Because please understand the topic of today's session is transitional issues. I'm talking about the transition issues. The hiccups the starting hiccups you can have it. Which depreciation rate we should follow. How to deal with government grant if received for depreciable asset. Gross approach or net approach. How to deal with e-books or journals. How to deal with the asset which are created for time being later being transport temporary assets. This was a query I have put in here. Now the solution will come from ministry. Treatment of interest if received on first April but accrued earlier sir. Your point. How to deal with the small item as companies that has removed this condition. But your common format is still saying it. Consensus via C and A G. On the new format. If we get the approval of the building let's study your point. If we get the approval of the building late. Then whether it should be fixed asset or CWIP. I know we had discussed it. But still that was a query. And even all of us will agree. They were not more than 20-25 queries. Or in 20-25 queries the solution is not a big task. If we give them the solution of 20-25 queries then I hope journey is smooth. Very easy. Then this is one of the software which is ministry has started. But I know almost it has been more than one year now. And at least I have not received any update status. There were lot of suggestions. Sir this is the fourth implementation challenges. Once it is implemented I am telling you MHRD, ICI auditors will expect from you guys transparent financial statements. Which are still at present transparent. But transparent means more disclosures. As for the new format. And of course the accounting system needs to be strengthened. This was a query from two or three organizations. Can present our accounting system needs to be strengthened. Can be due to the training staff financial help resources. Anyway minimal audit errors. And try to have a consistent format by all the institute. I have some points with me. There was support from the top nodal officers shortage of staff. Weightage given to the professional staff. Centralized software. A specific course shall be designed. Where by any person who comes for the job. At least should go for that course for two days or three days. Maybe through NFM or anywhere. Maybe ICI can do it. A course by ICI is for accounting standards can be there. That was a proverb as everyone knows it. Now after I am telling you after this workshop once you go. You will have a huge task. Your 13, 14 statements are waiting for you. Which I know I have not been prepared till now. Right. I know it. And of course a new task. And immediately in July there will be pressure of the admission. Thank you.