FATHER OF THE ACCOUNTANCY PROFESSION IN INDIA.pptx

Shri Kalyan Subramani Aiyar (K.S. Aiyar) -Father of Accountancy in India

1. Shri Kalyan Subramani Aiyar (K.S. Aiyar) - Father of Accountancy in India.

2. INTRODUCTION Luca Pacioli (c. 1447 - 1517) is called the 'father of accounting’ in all over the world because he was the first to publish detailed material on the double-entry system of accounting. In India, Shri Kalyana Subramani Iyer is regarded as ‘ the father of accountancy’ .

3. K. S. AIYAR – FATHER OF ACCOUNTANCY IN INDIA Shri Kalyana Subramani Iyer (1859–1940), known as K.S. Aiyer , was a pioneer of business and accountancy education in India. He started and established educational courses and institutes dedicated to commerce and accountancy. He believed in integrity of profession and principle-based services. Kalyan Subramani Aiyar (born 6th June 1859) founded the firm K. S. Aiyar & Co., one of the oldest firms and started professional practice in Calicut in 1897. He and the firm shift-ed to Bombay in 1900, where it is head-quartered till this day.

4. K. S. AIYAR – A D edicated E ducationist . History of the Accountancy Profession in India acknowledges that K S. Aiyar a pioneer of Indian Accountancy and of the Accountancy profession, was first dedicated educationist . He served as the headmaster of the first commercial School in India started by the Pachaiyappa College Charities at Madras from 1886-89. Shri Aiyar started a College of Commerce in 1900 preparing students for the London Chamber of Commerce Examinations. He also started the first Night School of Commerce in Bombay.

5. K. S. AIYAR – A D edicated E ducationist . In 1912, Shri Aiyar instituted the first Bachelor of Commerce degree in the Bombay University. He established an important education Centre of commerce, Sydenham College of Commerce in Bombay in 1913 and acted as its first honorary principal too. He considered his firm K. S. Aiyar & Co., as an educational institution and a medium for furthering professional education and shaping the youth and their bright minds.

6. K. S. AIYAR – Achievement . K. S. A iyar got elected as an Associate of the Society of Incorporated Accountants & Auditors (SIAA) of the UK without article-ship or examinations in 1890. He also Authored Standard text-book in book-keeping in the same year i.e. 1890. In 1901, he was Elected Fellow & Senate Member of University of Bombay and continued as such for thirty-years.

7. K. S. AIYAR – Achievement . S hri A iyar procured the permission in 1905 from the London council of the SIAA, to train apprentices of the incorporated accountant’s education in India for their L ondon examinations. Shri Sorab S. Engineer was the first Incorporated Accountant to serve his apprenticeship in India under Shri Aiyar in his firm from 1905 to 1908, and then served the same firm for another five years. Shri Engineer has been proclaimed guru of the first President of The Institute of Charted Accountants of India, Shri G. P. Kapadia .

8. K. S. AIYAR – Achievement . Shri Aiyar wrote the scheme of the Government Diploma in Accountancy (GDA) for the Government of Bombay on the recommendations of the Accountancy Diploma Board. This Diploma empowered the accountants with Unrestricted Certificate to practice accountancy in India. This diploma required a three-year articleship under an approved accountant in practice.