A key initiative is its tie up with the College of Banking and Financial Studies (CBFS) in assisting them with their accounting curriculum. This Chapter’s engagement with the College of Banking and Financial Studies is just one of the many ways in which the banking community and regulators can benefit from the technical knowledge base of the accounting community. 2.
The history of the Indian accounting profession can be traced back to the enactment of the Companies Act in 1857 that introduced for the first time the concept of preparing balance sheet on a voluntary basis by companies.