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Towards Global Awareness and the Efficiency of Capital

K.S. Ramachandran (Author)
Initially, we had thought of independent studies on audit and ICOR, but intellectual ventures often rework themselves, and this has happened to the present endeavor as well. A three part book has emerged, and without our having to establish linkages that would satisfy the discerning reader. Knowing that matters of efficiency of capital often get short shrift as much in operation as in the appraisal of performance by the management and auditor alike, the thrust on ICOR and audit simultaneously is not just logical but imperative. In a situation where managers entrusted with the task of maximising efficiency themselves do not bother too much about having to exclude the level of fulfillment of ICOR-related norms, it is not surprising that auditors, whether internal or external, do not deem it necessary to queer the pitch, as it as were, by dragging in issues concerning ICOR. We all must accept that profit is what really matters, but profit and good performance should not rest on fortuitous factors and financial innovations like currency arbitrage, credit derivatives and CDOs. Mangers and auditors should join hands in promoting efficient performance and side by side optimal utilization of capital as an essential yardstick of efficiency. The concluding part is an agenda for India farm inc. which is in conformity without overall thrust. Agriculture is one area, where globally nobody deems it right to demand efficient performance. From the United States to the European Union, Governments have problems asking farmers to produce more with less subsidy. Given its neglect of the essence of ICOR, the corporate sector is not really mindful of efficient utilisation of capital, but there is little doubt that notwithstanding such neglect, the corporate structure of management is better designed than personally run farms to optimise performance.
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About the author

K.S. Ramachandran

Kattalai S. Ramachandran (b. 1926) graduated from the University of Madras in History and Economics in 1947. Soon after, he joined the Archaeological Survey of India associating himself with the explorations and excavations aspects of the Survey. For more than a quarter of a century Ramachandran has participated in almost all the major excavations conducted by the Survey viz. Sisupalgarh, Sanur, Ujjain, Lothal, Kalibangan, Purana Qila, etc., and has specialized in the Iron Age, particularly of Tamil Nadu. He has also developed a lasting interest in art and iconography. Ranachandran has contributed more than four-score research papers of lasting interest to various journals, besides editing more trhan half a dozen books. His other books are: A Bibliography on Indian Megaliths; Radiocarbon Dates of Archaeological sites in India; A Bibliography of Harappan cultures of India and The Neolithic cultures-an annotated bibliography.

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Bibliographic information

Title Towards Global Awareness and the Efficiency of Capital
Format Hardcover
Date published: 01.01.2009
Edition 1st ed.
Language: English
isbn 8176580503
length viii+276p.