The Indian Railways will soon switch from cash
to accrual-based accounting. The national
transporter has engaged ICAI, the apex body of
chartered accountants, to handhold, guide and prepare a Management Information System
(MIS) for the same.
The reforms will focus on right costing and right
pricing and would enable provision of improved
services, stronger financial health and a healthy
operating ratio. The move will help in
determination of true cost of services and online
availability of costing data, which will lead to
enhanced transparency.
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