3. According to a Games Organising Committee document, this figure is almost three times the economic impact the 2006 Melbourne Games had on Australian GDP.
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6. Dr Cang Ye said that” We use a Flash LADAR 3D imaging sensor for perception. The imaging sensor produces both intensity image and range image of its environment. Each pixel in the range image contains distance information of the corresponding pixel in the intensity image“.
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8. The deal with Fujitsu should allow Sony to meet growing demand for image sensors while keeping production costs in check and safeguarding its proprietary technologies in Japan, the Nikkei business daily reported.
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11. MrNayyar in an interview said” , preparing these records have been a nightmare. Major fraud... god knows when it started. Perhaps much before 2008. I think it started right at the beginning, during 1992-94. It’s an old fraud and has been going on for many years. “
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13. New Accounting norms for NGOs. THE government is set to frame new accounting norms for non-governmental organisations (NGOs), as it looks to remove the veil over the flow and utilisation of funds by the sector that is not entirely above suspicion. The ministry of corporate affairs is drafting a more structured financial reporting format for the civil society organisations. It recently asked the Institute of Chartered Accountants of India (ICAI), the accounting regulator, to overhaul the accounting and disclosure norms for NGOs.
14. The NGOs, which have for long been shrouded in suspicion due to money laundering, terror funding and corporate corruption, have suddenly caught attention of the government, partly due to the allegations of corruption in the Indian Premier League. Unlike companies, NGOs do not follow a structured format for financial reporting, due to which it gets difficult to track their flow of funds. The format will focus on aspects like utilisation of grants and contributions received by NGOs and strict compliance with provisions of the Foreign Contribution (Regulation) Act (FCRA).
15. “From the point of the government, it will help them to understand the money flow of the organisations, their assets and liability. “Of late, NGO have been floated to divert money and avoid taxes,” s. The government will simultaneously empower the Comptroller and Auditor General of India (CAG) to audit NGOs through the proposed amendments to its governing law, presently being considered by the finance ministry. “A standard format on financial reporting for NGOs will ensure greater comparability between firms, as currently there is no clear standard or benchmark in the way these firms report on aspects governing grants received by them ” .
16. “The need of the hour is to know the way any charity or donation is used by a NGO.The accounting system should ensure maintaining a continuous review of the receipt and payment related with the specific project for which any grants are remitted,” said SantanuMishra, executive trustee, Smile Foundation, a New Delhi based NGO, adding that the current system of accounting transactions on grants or donation received by a NGO need to be elaborated.
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