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PHI Learning, a trusted name in academic publishing with 62 years of excellence, offers affordable, NEP 2020-aligned textbooks, expert-authored content, and global reach, driving academic progress in higher education.

Year: 2024

  • Accounting Heroes: Dr. Reddy’s Laboratories Case & the Impact of Scholarly Publishing in India

    When we think of scholarly publishing, it’s usually about fulfilling career goals. But let’s take a step back: scholarly publishing isn’t just about books; it’s about unleashing groundbreaking discoveries. These findings aren’t just informative; they’re game-changers, opening doors to new insights and solutions.

    When it comes to research findings, they are ultimate game-changer. They’re not just pieces of information; they’re the keys to unlocking new knowledge, insights, and solutions to some of the toughest challenges we face. Scholarly works play a crucial role here, documenting and spreading these findings far and wide.

    They’re like heroes in the world of breakthroughs, illuminating uncharted territories, challenging norms, and driving transformative change. Whether it’s a groundbreaking scientific discovery, a revolutionary technological innovation, or a paradigm-shifting theoretical framework, scholarly works are the driving force behind progress in every field.

    The impact of scholarly works extends beyond academia, influencing policymaking, industry practices, and societal norms. Governments, businesses, and nonprofit organizations often rely on research findings to inform their decisions and strategies, making scholarly works instrumental in driving positive change on a global scale.

    One such example is the case of Dr. Reddy’s Laboratories, which is also discussed in detail in PHI Learning’s bestseller Financial Accounting by Narayanaswamy. This case is a great example of how impactful academic research and scholarly publishing can be.

    The Case of Dr. Reddy’s Laboratories

    Investigation Stages

    Details

    Initial Suspicion: Accounting experts with access to the financial reports of Dr. Reddy’s Laboratories’, a pharmaceutical giant, noticed discrepancies in their books of accounts.

    Fraud Analytics Investigation: They further investigated the financial data, discovering irregularities that screamed potential fraud.

    Application of the Fraud Triangle: They studied the company culture and money incentives, finding possible motives for people to participate in the fraud. They also looked into internal controls, spotting where things could go wrong.

    ESG Considerations in Analysis: Researchers looked into how the company was dealing with the social environment and governance. It gave them a bigger picture beyond just the money.

    Analysis of the Statement of Cash Flows: They looked deeper into cash flow statements, tracking the money flow and finding some shady discrepancies. Differences between what was reported and what actually happened raised some red flags.

    In this case, scholarly publishing played a crucial role, literally acting as a “hero of the day,” in helping expose the fraud. Without scholarly platforms, such revelations would be challenging. They facilitate crucial discussions and knowledge exchange, vital for uncovering complex issues like financial fraud.

    Published research on this case raised awareness about the importance of transparency and accountability in corporate governance, serving as a catalyst for reform. The topic of the case went viral, presenting itself as a trend within the scholarly publishing sphere at that time.

    This case shows how scholarly publishing is vital to the advancement and progress of any nation – particularly India. Due to its utility as a gateway to breakthroughs, it is important to keep in touch with the current trends emerging in scholarly publishing scenes and academic communities in India and abroad.

    Such and more cases are covered in our book Financial Accounting: A Managerial Perspective, 7th Edition written by former IIM Bangalore Professor R. Narayanaswamy. Click here if you wish to buy a copy https://www.phindia.com/Books/BookDetail/9789354437656/financial-accounting-narayanaswamy

     

  • Preserved In The Lens Of Change: A Glimpse of India’s Biodiversity through Digital Storytelling

    The Evolution of Education in India: From Textbooks to Multimedia

    Over the past few years, India has transformed into a rapidly advancing economy, boasting the world’s largest population of young people. With the boost in the number of young people comes a proliferating culture of social media and digital multimedia use.

    Amidst this cultural evolution, the internet has emerged as a pivotal means of communication. Further, digital storytelling (sharing a story with your audience via photographs you have taken yourself) has become highly popular.

    Running parallel to the internet’s dominance is the epoch of climate change, heightening global awareness of environmental challenges.

    This blog is about the intersection of the approaching culture of digital storytelling and the trending topic of environmental conservation. We explain why digital storytelling is a great means through which we can initiate academic and scholarly discussions on topics related to biodiversity, environment, climate change, etc.

    Raising Awareness through Digital Storytelling

    Before delving into the importance of digital narratives in helping educate people about our rich biodiversity, it is important to answer the question – what even is digital storytelling?

    Digital storytelling uses digital media like images, videos, and interactive elements to convey a message, blending traditional storytelling with technology for engaging experiences.

    Digital storytelling has great potential to bring academic discussions to the public. Its ability to “go viral” on social networks can help amplify relevant topics, making them accessible to everyone.

    In this digital age, storytelling emerges as a powerful tool to bring to the forefront underrepresented natural wonders and inspire action for their conservation. With advancing technologies, wildlife photography has become a trend, facilitating immersive digital narratives that unveil the wonders concealed within protected realms, fostering a deeper connection with nature.

    Multimedia Storytelling in Higher Education

    Similarly, in academic education, integrating digital storytelling into the curriculum can make learning more enjoyable, especially with the abundance of beautiful images depicting natural Landscapes.

    Incorporating digital storytelling into e-books, leveraging the natural narrative ability of our planet’s biodiversity, can make learning about topics such as ecology and environmental science more fun and engaging.

    Renowned globally for its biodiversity, India’s unnoticed and overlooked wealth of wildlife sanctuaries and nature reserves need to be brought to the public’s notice. Digital storytelling has a huge potential in bringing discussions taking place within the academic sphere to the forefront. Incorporated in e-books, digital storytelling about India’s biodiversity can make learning fun!

    How Multimedia Narratives Can Impact Academia:

    • Student Engagement and Learning: Actively engages students through immersive experiences.
    • Empowerment and Advocacy: Motivates students to champion conservation efforts, empowering them to take tangible action.
    • Conservation Contribution and Cultural Preservation: Contributes to conservation endeavors by visually documenting ecological data and preserving cultural heritage.
    • Policy Influence and Global Impact: Advocates for policy reforms and reaches a global audience, amplifying the efficacy of conservation endeavors.

    While multimedia storytelling serves as an effective communication tool across various subjects, its value is particularly pronounced in environmental science, ecology, biology, and related fields. Presenting India’s biodiversity and global wildlife sanctuaries in a digital, visual format can serve as a compelling means to popularize the principles, objectives, and aspirations that fields like environmental science embody and aspire to achieve.

    Know about India’s Biodiversity:

     

  • Book Review – CORPORATE GOVERNANCE, ETHICS AND SOCIAL RESPONSIBILITY, Second Edition by BALACHANDRAN, V. and CHANDRASEKARAN, V.

     

    Dr. M. Sriram, Associate Professor, Department of Management Sciences, D. J. Academy for Managerial Excellence, Othakalmandapam, Coimbatore-641032

    • The chapters are well structured. The various facets of good governance is explained in a lucid manner.
    • The comprehensive coverage of the nuances of ‘Corporate Governance’ and various legal aspects relating to Corporate Governance.
    • The unique feature of the book is relating to a brief discussion on various CSR initiatives by India Inc. and also a snap shot on various labour legislations prevalent in India.
    • The book will be very useful to all those who lack clarity on the topics such as CSR, CG and Social Audit.

    ———-

    Dr. S. Thothadri, Assistant Professor & Research Supervisor, Department of Corporate Secretaryship, The New College (Autonomous), Chennai – 600 014, India.

    “The chapters and contents of the book are well arranged. The book extensively covers all the contents of Corporate Social Responsibility, Corporate Governance, CSR practices by Indian Corporates, Cadbury Committee Report on Corporate Governance, Clause 49 of the listing agreement, Compliance Report on Corporate Governance and NGO’s and their objectives. The book highlights the importance of Business Ethics, Professional Ethics, Social Accounting, Auditing and Reporting in a lucid manner which will be the need of the hour. The appendix and annexure in Chapter 1, Chapter 4, and Chapter 7 are noteworthy highlights of the book.

    The Air and Water (Prevention and Control on Pollution) Act has been included in a simple manner highlighting the importance of pollution prevention in order to achieve global sustainable development.

    The book will be very useful for the P. G. students as well as the students pursuing professional courses like Company Secretaryship, Chartered Accountants, etc., as it provides an insight into the guidelines for ethics to be maintained by various professionals.”