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Jaipuria Jaipur STUDENT Speaks

“The faculty at Jaipuria Jaipur is very understanding and helpul”, says Nikita Thomas, 1st year PGDBM student

Very often, the choice of a course or  an institute is the determining factor for success in one’s career. Aims and aspirations apart, what you study and where you study make a world of  difference. Nikita Thomas, who hails from Jodhpur and did her graduation in biotechnology, chemistry and botany, is a first-year PGDBM student at Jaipuria Institute of Management, Jaipur. After her graduation, she faced the same challenge when the usual question cropped up – ‘What next?’ However, her dilemma was  soon resolved when a friend advised her to join Jaipuria Jaipur, as it enjoyed a good reputation for having excellent faculty, infrastructure and facilities.

She did, and she is enjoying every moment of it as a part of the Media Relations Club and as a member of PRAGATI (PARIVARTAN, a CSR initiative), in which the institute has adopted a village and provides free-of-cost education to underprivileged students. “I am also an active member of the E-cell. I enjoy being the campus journalist the most, because I love writing and sharing my thoughts,” says Nikita, who promotes and publishes the activities happening in the campus through this club. Her most memorable achievement is being part of the first national inter-college sports meet conducted by Jaipuria Jaipur. “It was so nice to see the whole college working together for a common goal  to make the event a success without any blemishless. We learnt about team spirit and cooperation and most importantly, how to manage a large crowd and be hospitable at the same time,” gushes Nikita. She believes that  it was a great learning experience; besides, the event helped to create a bond between many colleges.

Initially, Nikita was apprehensive and unsure of herself when she joined the institution, but the understanding and helpful attitude of senior students and faculty helped allay her fears and made her comfortable. She vividly remembers the fershers’ party, which helped break the ice between freshers and seniors and helped her make a lot of friends. “Whether it is sickness or personal problems, the seniors are always ready to help us,” says Nikita, who now finds Jaipuria Jaipur a home away from home. She finds the faculty very understanding and helpful too. “They are not only our teachers but our guides, mentors and friends as well. It’s like we can share all our problems with them any time of the day and they are always ready to help,” she adds. She is all praise particularly for ‘Nair Sir, Anvay sir, Sheenu Maam and Swati Maam’, who helped her with the business subjects in the first year, since she has a non-commerce background. Faculty apart, even the Director, Dr. Rajiv R. Thakur, connects very well with the students “and comes and speaks personally to the students about their problems,” says Nikita. She adds that in case of any emergency, he is just a call away.

Nikita, who sees herself working in a good company like ITC two years from now, is very confident that Jaipuria Jaipur will help her become a good manager. “I am very sure that the institute will be very successful in the future, as it connects with the students and understands the students’ point of view,” says Nikita, who is proud to be a student of Jaipuria Jaipur.

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FACULTY Speaks Jaipuria Lucknow

Returning to Jaipuria Institute of Management was a homecoming for Dr. Kavita Pathak.

Covered By:

Tuhin Sharma & Mohammad Owais Khan

For Dr. Kavita Pathak, walking back through the gates of Jaipuria Institute of Management, Lucknow was like a homecoming.

The Associate Dean of Marketing recently returned after spending four years in Australia, where she taught business research methods at the University of Queensland. But prior to her adventure abroad, she had spent 12 years teaching at Jaipuria’s Lucknow campus. “All my earlier teaching habits have been formed here at Jaipuria, so I owe a lot to this institution. That’s why when I decided to come back, I chose to come back to Jaipuria.”

With her areas of teaching being Marketing Management, International Marketing, Research Methods and Consumer Behaviour Research, Dr. Pathak still has her favourites.  “I do love marketing. I love nothing more than teaching core fundamentals of marketing and even specific areas like consumer behaviour, but my latest love has emerged to be business research methods.”

And while she’s happy to be back at Jaipuria Lucknow, she has no regrets about her stint in Australia. “Of the four years spent in Australia, the teaching experience was definitely enriching,” she said. “I was teaching International Marketing to students from 13 different nationalities sitting in the same classroom. The kind of exposure I received as a teacher was the most enriching experience.”

Dr. Pathak said she hasn’t had a chance yet to teach any of the current batches of students, because her duties have been keeping her extremely busy. “Right now, my hands are full with placement training-related activities for first year students and I’ve also been given the responsibility of looking after student relations on campus.” Added to these tasks is her responsibility to interface with final-year students and the organising the AIMCAT as well.

And with more than 20 published papers to her credit, there are more in the works. “One is definitely under review,” she said, “and at least two interesting and good quality publications will come up next year.”

In what spare time she has, she says, “I fight with my kids, watch silly TV soap operas when time permits. I love music and I read, which is the first love of my life.”

As for words of advice for Jaipuria Lucknow students, Dr. Pathak has this to say: “You are the only custodian of your future – your parents will not be there throughout your life unfortunately, and your peers will be gone before you realise it. The only custodian of how you will carry your name and your destiny forward is you, so you are responsible for your own actions.”

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Blog Jaipuria Featured Stories Jaipuria Noida Events

First inter-college LAN gaming competition held at Jaipuria Noida ‘RaceWars’ sends Delhi’s pulse racing much before the F1 Grand Prix!

On the 20th of September 2012, the IT club of Jaipuria Institute of Management, Noida hosted its first ever inter-college event. ‘RaceWars’, as the event was called, pitted the best teams in the Delhi-NCR college circuit against each other, in a cyber-game of car racing. With teams from institutes like Amity Business School, NDIM, IMS Noida, IIPM, Delhi College of Engineering and AISM locking horns with the cyber racers of Jaipuria Noida, the entire affair promised to be a super-hit right from the beginning.

There were four of us – Gaurav, Karan, Akshay, and yours truly, Hemant, who could claim ‘RaceWars’ as their brain-child; but in all honesty, the idea was sown in our heads by Professor Richa Mishra. ‘RaceWars’ was conceived as an inter-college affair in the first meeting the four of us held, but in  further discussions we decided to play it big, turning it into an inter-college affair. All of us were quite surprised by the immediate and positive responses of quite a few colleges that we spoke to.

Somehow from Day 1 itself, the event was registered in our minds as ‘RaceWars’. We carried out a detailed planning session and decided that the best way forward would be to divide the members of our IT Club into different teams. These were the Event Coordinators (Chitra and myself); Lab coordinators (Akshay, Tarun, Gaurav, Tarun Suneja, Sharad, Shashank and Ashish Sharma), Promotion Team (Lidiya, Eureka, Tushar and Subhanshi) and Hospitality team (Karan, Gurneet and Sakshi).

As is always the case, the initial part of getting the ‘RaceWars’ organised was the toughest, especially the installation of the right game; but we didn’t quit, and the credit for this goes to our lab coordinators, Mr. Satyendra and Mr. Ajay Rana. In fact, Mr. Ajay Rana devoted his entire holiday to the job, and  we finally cracked the problem by the evening of the auspicious Ganesh Chaturthi.

The thing about Jaipuria Noida is that you’ve got to plan your events within the curriculum schedule itself. In fact, barely a couple of days before ‘RaceWars’, we had to take our excel proficiency tests, and then spend the entire day in the event lab to make sure that all would go smoothly.

As they say, ‘A job well begun, is half the job done.’ On the day of the event, our Registration Counter was up, bang on time. We had targeted about 40 students, but were pleasantly surprised when the numbers crossed the figure. At the end, there were more than 80 entries for the first round. Before we could exult over this small success, my roommate, Deepinder, was taken ill and a few of the participants had to take him to the hospital. Deepinder, like the sport that he is, refused to let me accompany him, saying that I was needed at Jaipuria Noida for the success of ‘RaceWars’.

‘RaceWars’ was ‘flagged-off’ in true F1 style by Dr. A.K. Singh, Director, Jaipuria Noida, in the presence of the entire faculty. All of them tried their hand on the game; we, of course, let no opportunity go by to make them realise that they needed a lot of practice on cyber games. It felt good to teach the teachers! Funnily, they seemed to be driving within the speed limit and following traffic rules in the virtual world too! The good part was that a lot of faculty members of Jaipuria Noida asked me for the setup of the cybergames, so I’m counting on a better performance from them next year.

At the business end of the competition, we faced a bit of a technical snag right at the beginning of the first round. Luckily, it was sorted out soon and thereafter, the event progressed with uninterrupted fluency, round after round. There were four rounds in the event and the races were ‘Sprint’ and ‘Circuit’ alternatively.

The prizes were given away by a beaming Dr. A.K. Singh, Director, Jaipuria Noida. He looked even more proud of us than we ourselves were on having conducted our first ever IT inter-college event. The pride was doubled by the fact that the first prize went to our colleague, Rahul Gupta, from Jaipuria Noida. The second and third places were taken by Swastik and Abhishek respectively, both from NDIM, New Delhi. Certificates of participation were distributed among those who were able to clear the knockout round.

On a concluding note, Dr. A.K. Singh, Director, Jaipuria Noida, announced that the IT Labs will shortly be upgraded so that ‘RaceWars 2013’ can be organised on a much grander scale. It was a true recognition of our hard work by Jaipuria Noida.

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Blog Jaipuria Featured Stories Jaipuria Lucknow Events

Jaipuria Lucknow marks 17th anniversary with cultural events and awards.

Speeches, cultural events and awards were the highlights at the celebrations as Jaipuria Institute of Management, Lucknow marked its 17th anniversary on the 8th of September – Founder’s Day..

Welcoming all to the celebration, Jaipuria Lucknow Director, Dr. S.R. Musanna outlined the history of the institute from its initial batch of 60 students to its most recent one of 300, and noted that there are now branches of Jaipuria Institute of Management in four cities.

Chief Guest at the event, K. Ramachandra, Chief General Manager of State Bank of India, told students that the three important things they should concentrate on are: communication, presentation and networking. He said that, students should learn the value of money and urged them to travel more as it is valuable to learn about different cultures.

Cultural events highlighting the Founder‘s Day event included: a musical play on the history of Jaipuria; a classical dance by Neha; a special dance performance by second-year students; Ganesh Vandana and a Punjabi dance performance.

Founder’s Day was also a time for awards and the distribution of prizes.

The standings of toppers in the PGDM went to: First – Bhagwati Prasad Gupta, Second – Juhie Gupta and Third – Nikhil Singh, with the top positions in Financial Services and Retail Management going to Bhoomika Agarwal and Nitin Tiwari respectively.

Anjanesh Chaubey captured top spot in the summer internship project with Apoorva Awasthi placing second and Bhagwati Prasad Gupta third.

The Dream Theme award went to Nupur, Tuheen, Ajitesh, Raveena and Jitesh while the Finance club results had Dildeep Singh and group first, Riku Acharya and group second, and Preeti Saraswat and group third.

Ajay Wadhwa and group took the top spot for the Marketing club, with Vargav Varadwaj and group coming in second. For Vision 700, it was Vargav Varadwaj first, Akanksha Srivastava second and Randhir Thakuria third.

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Jaipuria Noida STUDENT Speaks

Anumeha Chari, Jaipuria Noida 2012-14 Batch – “I dream of a successful corporate career”

Anumeha Chari is an extremely active student who has been involved with various extra-curricular activities like athletics, poetry competitions and dramatics. She was also the head of the social service league in school and loved every minute of it. After her graduation from Kamla Raje Girls College, Gwalior, Anumeha wanted to pursue Management from one of the top MBA colleges in India. “I chose Jaipuria Noida because I found the faculty profiles very impressive, and after NAAC accreditation and improved ratings, this college promises good on-campus companies”, she explains her final decision.

Anumeha belongs to the city of Gwalior. She comes from an academic family, with her father working as Senior Scientific Officer and head of the Toxicology and Narcotics Department in the Forensic Science Laboratory of M.P state. With her mother heading the Dept. of Chemistry in Scindia Kanya Vidyalaya, a public school, Anumeha was bound to look for academic excellence. However, she is an active student with a keen interest in sports as well. She is an excellent swimmer and plays baseball and football. Surprisingly, she is also interesting in developing culinary skills and says, “I am very fond of cooking and can cook a variety of dishes from different cuisines.”

Anumeha is enjoying her time at Jaipuria, which fit the bill for her on many fronts. She specifically mentions the freshers’ party as one of her fondest memories, and goes on to include her seniors saying, “My interaction with my seniors here has been very jovial and helpful; I really enjoy their company.” Her expectation from the college is very specific to the corporate world. “As a person, I want to be better equipped to handle the challenges of the corporate world. I am looking forward to the training and education that will enable me to interact better and find my niche out there.”

Jaipuria Noida has convinced Anumeha that she will be given the exposure to several opportunities in the form of companies visiting the campus for recruitment. She is confident she will be able to bag a job matching her aspirations when she passes out. Her beliefis founded on the faculty support she has been receiving every day since she joined the college. “The faculty here is very dedicated and sincere towards both the institution and the students. I am looking forward to a course full of learning and practical experience with industry orientation.” Anumeha dreams of a successful corporate career and is steadfastly moving towards one through Jaipuria Noida.

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Jaipuria Noida STUDENT Speaks

A chat with Mr. Deepak Singhal, President & CFO, Philipin Manufacturing Company, on the sidelines of Jaipuria Noida’s Finance Conclave.

Close on the heels of the HR Conclave, Jaipuria Institute of Management, Noida hosted a high-profile Finance Conclave. The conclave, organised by the Finance Club at Jaipuria Noida, was held on the 15th of September, 2012. Financial wizards from various industries were seen discussing the ‘Emerging Paradigm in the Financial Sector’, and one such was Mr. Deepak Singhal, President and CFO, Philipin Manufacturing Company. An MBA from IIM Ahmedabad and a Mechanical Engineering graduate from Birla Institute of Technology, Mr. Singhal has more than 25 years of experience in the Finance domain, with numerous success stories to his credit.

Priyanka Priya, the on-campus journalist of Jaipuria Institute of Management, Noida, caught up with Mr. Deepak Singhal.

Priyanka: Thank you for finding the time to talk to us at Jaipuria Noida. From a management student’s perspective, do you think being good with numbers is the only key to success in Finance?

Mr. Deepak Singhal: No. Being good with numbers is very important, but even more importantly, you should learn to analyse these figures and draw conclusions.

Priyanka:When we join as freshers in a management school, we have a lot of apprehensions about Finance as a subject. Do you have some words of wisdom for us? How should freshers approach Finance?

Mr. Deepak Singhal: Why should there be apprehensions? Finance is very easy; it’s not a complex subject. It is as interesting as any other subject. Just approach it with an open mind.

Priyanka: What is the current placement scenario in the Finance sector? Where does a fresher stand?

Mr. Deepak Singhal:Finance has a lot of scope, because it is an intrinsic part of every industry across the globe. A finance manager has a world of options – Accounting, Controlling, MIS, Budgeting, Treasury … the list is endless. Freshers with sound basics will automatically grow in this field.

Priyanka: Can you please amplify the last statement? What would you describe as sound basics for somebody who has landed a Finance profile in the corporate world?

Mr. Deepak Singhal: You should know your subject and responsibilities well. That is the only basis of initial success. Your domain-knowledge should be beyond doubt. With time, management skills, human skills and soft skills slowly come into play, especially at the senior and top management positions. But you have to keep on grooming yourself in that line.

Priyanka: Lastly, what would be your word of advice to students of Jaipuria Institute of Management?

Mr. Deepak Singhal: The buzzword today is ‘fresh’. Keep your mind fresh; come up with fresh ideas and innovations. Your ability to compete will take you guys a long way, but your ability to innovate will be the game-changer.

Priyanka: Thank you for your time, Sir. I hope Jaipuria Noida students get to hear you more often. You’ve been truly inspiring.

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Jaipuria Jaipur STUDENT Speaks

Abhishek Soni achieves more than he set out to.

“It was on 23rd March 2012 that I got a job with TTK Prestige Ltd. as a Territory Sales Executive. After a tough selection process, just two of us got through, one from Jaipuria Institute of Management, Jaipur and the other from Jaipuria Noida. I was lucky to have made it through,” recalls Abhishek Soni, a student of the batch of 2010-2012.

After failing to clear the Group Discussion (GD) for his preferred company, Neuearth Pvt. Ltd., Soni had to put his best into the second interview. Soni remembers, “It was a hectic day and I was under pressure to perform. I did not want to fail. We started the day with the presentations at 7:30 in the morning followed by an aptitude test. Out of 45 students, only two of us made it to the post of Territory Sales Executive.”

He believes that he could not have got the job if his faculty had not helped him crack the interview. “My teachers helped me identify and hone my marketing skills to be able to make it to the retail industry,” says Soni.

Today, Soni is a confident and competent professional who has started making a mark through his hard work. He proudly remarks, “Out of a target of starting 5 franchise stores by March 2013, I have already confirmed 4. My aim now is open at least 6 by the end of December 2012.” Soni has been able to implement all the tricks of the trade he was taught at Jaipuria Jaipur.

Soni is responsible for the complete retail management of 12 stores in the Rajasthan region of north India. “My job is to explore new markets and find clients for setting up new franchise stores in the region,” explains Soni. He is constantly researching and developing new leads to identify a client. Soni also develops negotiating strategies and positions, by studying the integration of new franchise with company strategies and operations, and by examining risks and potentials.

The most challenging part of his job is to ensure that all special events, visual merchandising and branding of the stores are executed in tandem with the plan laid down by the Head Office. He also looks after POP management and vendor management. Soni explains, “Since the business is new, I cannot make a mistake. I ensure that the staff in the stores is trained, coached, mentored and provided with a good working environment. After all, they are the interface between the client and the company.” From formulating online and offline marketing strategy to revenue generation, he has tokeep a tab on all elements. Soni then has to do store visit the stores to check on whether the agreed terms and conditions are being followed.

While Soni is passionate about what he does, he has a word of caution. “We have learned in systematic way but in the real world, we have to accept some chaos. It’s like the days when we prepared for our presentations at the last moment.” He adds, “Its chaotic, but worth the challenge. I like what I do and that’s why I have been able to achieve more than was expected.”

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Jaipuria Noida STUDENT Speaks

“How to soldier on in times of downturn – A chat with Mr. Anil Rathore, zonal HR Partner, north east and west, ING Vyasya

The HR Conclave held at the Jaipuria Institute of Management, Noida saw participation from eminent leaders from the HR landscape of India. Of the 10 panelists who represented their industries in unravelling the ‘HR Practices and Challenges During Downturn’, the one who spoke for the Banking industry was Mr. Anil Rathore, Zonal HR Partner, North East and West, ING Vyasya. Mr. Rathore’s career as an HR practitioner is prominently split into two halves. The first half was as a distinguished naval officer, who rose to be the Joint Director Manpower Planning & Recruitment for the Indian Navy. The second half is in the corporate world, with a major chunk belonging to ICICI Bank, where he started out as the Head of Talent Acquisition & Recruitment Service, and grew to be the Recruitment Head of North, before shifting to ING Vysya.

Campus journalist at Jaipuria Institute of Management, Noida, Priyanka Priya, found the opportunity to quiz Mr. Rathore on the future of the HR domain, and the best way forward for MBA students of Jaipuria Noida.

Priyanka: At the outset, Sir, what made you chose HR as your domain of expertise? Is it something that you chose as a career right from your college days?

Mr. Anil Rathore: Not exactly! It grew on me instinctively. As you know, the Indian Armed Forces are completely manpower intensive. I have been managing people for the last 20 years, but only for the last 6 years have I been focussing on core HR functions. I did venture out into business for some time, but I came back to HR, because I enjoyed being a ‘People’s Person’. My stint as a businessman has helped me understand the challenges of business better, and today, I obviously view HR from the business perspective as well.

Priyanka: The challenges in HR for present-day managers are often said to be very different from those that existed till about a decade ago. What qualities do you think B-school students like those at Jaipuria Noida should imbibe to be good HR professionals?

Mr. Anil Rathore: In HR, at times you have to be at the front in communicating some hard decisions, but a majority of the time you have to play the role of a friend, philosopher and guide to the employees. The HR is the department that employees in an organisation should look forward to speaking their hearts out to. Today, organisations need imaginative and creative employees on their rolls, and HR departments cannot ignore or take the feelings of an employee in a negative vein.

Priyanka: Sir, why is it that HR jobs are mostly available in metros? Do you see this environment changing? Are there any opportunities in the rural space or smaller cities?

Mr. Anil Rathore: Very few. 80% of the jobs will be at metro level, as HR is a support function and business leaders will like their support functions to be right next to their heart, for communication purposes. For example, ING Vysya will have 30 branches in metros and 2-3 branches in smaller townships. Therefore, the HR functions where the concentration is more.

Priyanka: How about the nationalised banks, who stress equally or sometimes more on the grass-root levels of the economy? Are there no opportunities in those banks for HR in smaller cities?

Mr. Anil Rathore: Yes there are. For instance, Bank of Baroda has started taking people for core HR jobs, which they call specialist recruitments. Even PNB is doing so.

Priyanka: We’ve all heard you speak about how the banking sector dealt with the global meltdown. The insight you provided was clearly based on things you observed at close quarters. What would be your message to the students of Jaipuria Institute of Management?

Mr. Anil Rathore: A very short one, really – Market Awareness. Be more aware. Don’t restrict it only to today’s session; there is enough and more available in the media today for you to keep yourself upgraded.

Priyanka: Thank you, Sir. We hope to see you more often at Jaipuria Noida, to gain from your wisdom.

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Jaipuria Jaipur STUDENT Speaks

“Jaipuria enables industry oriented business management education”

Sagar Agarwal belongs to the city of Bikaner, from where he also did his BBA. He appeared for the MAT and CAT exams. In his CAT exams, he scored a percentage of 94. 57% (scored good percentiles in both), which opened up opportunities for him after graduation. He applied for MBA admission to Jaipuria Institute of Management for clear reasons like its brand name, faculty, infrastructure, MBA course fees, and placements. He was also looking for value for his investment. His initial queries and research into top MBA colleges in India brought him to Jaipuria Jaipur and he considers himself fortunate for getting selected.

Sagar is a fun-loving guy who likes interacting with people. He is glad about the extra-curricular opportunities Jaipuria provides. He is happiest being a part of skits during college events, anchoring shows, and coordinating activities like the college annual sports meet. He also represented the college in ‘Chanakya’, an event organized by AIMA. His favorite, however, remains anchoring and he is looking forward to more events. “I have enjoyed academics and co-curricular activities equally, but anchoring was the most enjoyable experience for me so far”, said a well-satisfied Sagar. He thinks the sports meet and national workshop were the most memorable events of his academic life in Jaipuria owing to the learning and rapport building they facilitated. Academics mean a lot more than a degree and classroom learning for Sagar. He is working on his personality at this point of time and says, “My expectation is more for grooming and of course, learning the basic concepts of Management. I want to learn about industry expectations from a PGDM course.” A very optimistic Sagar is convinced that the institute’s brand will help him create a place for himself and give him an edge over others. In the few months that he has spent at Jaipuria, Sagar claims he has evolved as a person and a professional. He doesn’t hesitate anymore in taking his place in front of an audience and is holding his own. “I feel grateful to the people who advised me to join the best management institute”, says Sagar.

Sagar shares his wonderful experience with his seniors, saying, “I have found a new respect for the seniors I have met here. Not only have they guided us from day one but have also involved us and encouraged us to be a part of all college activities!” He thinks this cooperation and motivation are very helpful in getting a fresh student to settle down and find his way around.

The faculty support has also impressed him and he is all praise for the innovative teaching methods being leveraged by them to help clarify concepts. His basic satisfaction comes from the fact the faculty enables a clear understanding of industry concepts and their implementation by bringing industry interaction into the classroom.

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Blog Jaipuria Featured Stories Jaipuria Noida Events

For love of numbers – Finance Seminar at Jaipuria Noida.

Jaipuria Institute of Management, Noida recently hosted a lecture on International Finance Reporting Standards (IFRS) by Gulshan Kalra, an established Chartered Accountant. The lecture was targeted at all finance students of the institute and consisted of a sharing of learning as well as a question-answer session pertaining to IFRS.
IFRS are a set of accounting standards developed by the International Accounting Standards Boards (IASB) that is becoming the global standard for the preparation of public company financial statements. In other words, if one wants to compare two countries, then you have to bring both the countries onto a certain standard, and that standard is IFRS.
IASB had 15 members, but the count has increased to 16 in 2012. The members are from diverse countries, including the UK. The information shared by Kalra was invaluable for the students. He helped the students understand that finance is about the representation of facts. Even companies that earn the same amount of profit show their balance sheets in different ways through LIFO (Last In First out) or FIFO (First In First Out), and that representation of facts can be learnt through experience; it is never taught using any book of accounting!
Several terms that were unknown to the students came up during discussions, such as Hyper Inflation, LIBOR & MIBOR, Finance Lease and Operating Lease. “Gulshan Sir helped us understand these terms but a major source of excitement was the fact that we knew about some important concepts and terms like NSE and BSE and could talk to him about them in detail,” shared Geetika Goyal, the campus journalist.
She also listed the key learning from the lecture:
Even though USA is a developed nation, it is not registered under IFRS. It plans to change its standards by 2014. The US is still using the US gap.
There are three phases of IFRS. India is in its 1st phase of using IFRS. The second phase will start from April 1, 2013 and the 3rd phase will start a year later.
IFRS includes Existing International Accounting Standards (IAS) + IFRS
Kalra later touched upon the softer aspects of finance saying, “There is tremendous growth in the sector that will only increase with the development of the economy. What a student really needs to excel in this field is a love for numbers!” He advised the students to try and experience real-life scenarios to understand finance. The concepts, he said, can only be understood with case studies and by visiting organisations to see how they resolve the issues around finance.

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