In technical collaboration with apex body of chartered accountants' ICAI, Indian Railways has released the "first ever" accrual-based financial statement for North Western Railway.
Indian Railways engaged ICAI ARF (Accounting Research Foundation) to conduct a pilot study to prepare the financial statements of North Western Zonal Railway on accrual basis as an additional set of accounts.
In a release today, the Institute of Chartered Accountants of India (ICAI) said the "first ever accrual based financial statement for North Western Railway" has been released.
Railway Minister Suresh Prabhu released the financial statements along with implementation manual and accounting policies, it added.
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