Dr Chava to get first ever DLitt in Commerce
| Date :05-Jun-2019 |
By Rajendra Diwe:
The DLitt has been awarded for the Treatise titled ‘Financial Performance Index Singular Navigator to a multitude of Stakeholders’. Incidentally this happens to be the first-ever DLitt in the stream of Commerce and Management by RTMNU
Dr Sreehari Chava, a well known Cost Accountant, has been declared eligible for the award of DLitt in Commerce in the faculty of Commerce and Management by Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU) P (Vide the Notification dated 31.05.2019). The DLitt has been awarded for the Treatise titled ‘Financial Performance Index – Singular Navigator to a multitude of Stakeholders’. Incidentally this happens to be the first-ever DLitt in the stream of Commerce and Management by Nagpur University.
Talking to The Hitavada, Dr Chava said, “Conception and evolution of the Financial Performance Index (FPI) is a venture to carve out an exclusive financial measure which integrates the impact of all the vital performance drivers into one parameter. The FPI clubs twenty vital financial performance drivers into one representative index and presents a fair view about the overall performance of an entity from the collective perception of a cross section of stakeholders at any given point of time. Financial Performance Index may, thus, be defined as the impact weighted index of twenty vital financial performance measures.” “The FPI enables a balanced perception of the financial performance of an entity.
It, thus, constitutes singular powerful financial measure that presents a fair view of the enterprise to a cross section of the stakeholders. The systematic analysis of the index would be of lot of help in highlighting the growth drivers of the enterprise, undressing the growth dampeners, short-listing the market impediments, rectification of structural imbalances, identification of societal contributions, and so on,” he added. Dr Chavan mentioned that he had chosen the twenty measures to constitute the FPI is the result of a comprehensive survey and research initiated in 2007.
“The Treatise demonstrates the utility of Financial Performance Index by means of case studies relating to four corporate entities viz. Tata Chemicals Limited, Mahindra and Mahindra Limited, Ashok Leyland Limited and Tamil Nadu Newsprint and Papers Limited,” he added. Dr Sreehari Chavan has a quest for Incessant Innovation. His vision is that a Balance Sheet propelled by growing resources only can add to the Economic Prosperity. He has been pursuing, since 2007, the mission of developing a Performance Index that evaluates the overall performance of the Enterprises in particular those in the Small and Medium Range. And there comes the result in the shape of the compilation “Financial Performance Index – Singular Navigator to a multitude of Stakeholders”. Costnomist Dr Sreehari gives special credits to Dr Vinayak Deshpade, Dean Commerce and CMA V C Kothari Past Central Council Member of ICAI for their guidance to his inventive research.