The Hindu Business Line : Thursday, August 31, 2006

ACCOUNTANCY
Ensuring `faithful representation' in financial reports
The IASB and the FASB have brought out a discussion paper on the qualitative characteristics of decision-useful financial reporting information. `Reliability' came out very strongly as being one of the key characteristics More

Guarantee on capital, not returns
It is curious that Capital Protection Oriented Schemes have been singled out for prohibition against promising a guaranteed return as well. More

When does private turn public?
The Delhi High Court has held that "unless a private company is a subsidiary of a public company it cannot be treated as a public company." More

If only `torn books' repaired themselves `as they landed upon their shelves'
The Ministry of Magic, as you might know, takes responsibility for the whole Wizarding community and prevents the non-magical population from getting wind of witches and wizards still living in secret all over the world. "A difficult job that ... More

On a mole's trail
Accountants know well about intangible assets and secret reserves. Here is Secret Asset by Stella Rimington, from Hutchinson (www.randomhouse.co.uk). A thriller that takes the reader `into a world where no-one can be trusted and ... More

PHARMACEUTICALS
Pharmaceutical policy draft — Must go beyond price control
The proposed pharmaceutical policy allows R&D oriented firms to have higher MAPE, meaning that for the same medicine, some firms will have 150 per cent margin while others will have 200 per cent margin. More

TERRORISM
Thrall of terror
A diabolical plot to blow up the trans-Atlantic airliners thwarted just in time by M-15 in the UK earlier this month caused much fear and despair. The meticulously planned terror plot was traced to a body of ... More

BANKING
Banking regulation, supervision and Monetary Policy
So long as the conflict of interest of supervisors and regulators does not turn into a serious moral hazard problem and there are transparent institutional mechanisms that allow an arm's length relationship between the supervisory and regulatory wing s, the justification for separating supervision from regulation in economies where markets are not fully integrated is weak, says A. VASUDEVAN More

LETTERS

Company law reforms

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