CHANAKYA s Ideas on Finance and accounts. Radhakrishnan Pillai Director Chanakya Institute of Public leadership, University of Mumbai

Transcription

1 CHANAKYA s Ideas on Finance and accounts Radhakrishnan Pillai Director Chanakya Institute of Public leadership, University of Mumbai

2 Chanakya Born in 4th Century B.C. Vishnugupta Kautilya - Chanakya Vowed to Pull down Nanda Dynasty Chandragupta Maurya King Maker Responsible for the defeat of Alexander in India Ashoka India s first global emperor Wrote Kautilya s Arthashastra & Chanakya Niti

3 Known as a Book of Economics, state craft, punishments, warfare, strategy. It s a Book of Total Management Written in Sanskrit About 6000 sutras 15 books, 150 chapters 180 sections 15 Books Kautilya s Arthashastra Fundamentals of Management Economics Law Describes specialised sciences like Gemology, Ayurveda, Architecture, etc Foreign Policies Survives the Test of Time as the book has been worked on based on the psychology of Human. War

4 Chanakya On Leadership, Finance and accounts

5 Chanakya s 7 pillars Of Business

6 Swami, Amatya, Janapada, Durg, Kosha, Danda, Mitra iti Prakritaya The king, the minister, the country, the fortified city, the treasury, the army and the ally are the constituent elements of the state (Business) (Kautilya Arthashastra 6.1.1)

7 5. KOSHA The treasury It is the backbone of any business. A strong and well managed treasury is the heart or any organisation.

8 5. KOSHA The treasury Acquired lawfully by ancestors and oneself (expand) One that can withstand calamity (Insurance) One Even when there is no income for long time (6.1.10)

9 4 stages of wealth Wealth Identification Wealth Creation Wealth Management Wealth Distribution

10 Do your calculations first All undertakings are dependent first on the treasury. Therefore, he (the leader) should look to the treasury first ( )

11 Be ever active Be ever active in the management of the economy because the root of wealth is economic activity; inactivity brings material distress. Without an active policy, both current prosperity and future gains are destroyed (Arthashastra ,36 )

12 Macro and micro accounts system In addition to reporting in detail as well as in aggregate, there is also an individual accountability for the revenues and the expenditures (2.7.24)

13 Action point 1 Wealth will slip away from the foolish person, who continuously consults the stars; for wealth is the star of wealth; what will the stars do? Capable men will certainly secure wealth at least after a hundred trails ( ) - Start your work right now do not wait for a Mahurat

14 Action point 2 He should check the income and expenditure with reference to the period, place, time, head of income / expenditure, source, bringing forward, quantity, the payer / paid, the person causing payments to be made, the recorder and the receiver ( ) - In your accounting system make provision for as many details as possible

15 Action point 3 He (leader) should check the accounts for each day, group of 5 days (a week), fortnight, month, four months and a year (2.7.30) - Keep regular check of your accounts reports

16 Consult and then start All undertakings should be preceded by consultation. Holding a consultation with only one, he may not be able to reach a decision in difficult matters. With more councilors it is difficult to reach decisions and maintain secrecy (1.15.2,35,40) Therefore sit and counsel with those who are matured in intellect ( )

17 Listen to the opinion of every one He should despise none, (but) should listen to the opinion of every one. A wise man should make use of the sensible words of even a child ( )

18 Energy If the king is energetic, his subjects will be equally energetic. If he is slack (and lazy in performing his duties) the subjects will also be lazy, thereby, eat into his wealth. Besides, a lazy king will easily fall into the hands of the enemies. Hence the king should himself always be energetic ( )

19 Act with Tact He should hear (at once) every urgent matter, (and) not put it off. An (affair) postponed becomes difficult to settle or even impossible to settle ( )

20 Sharpen your skills (From) Continuous study ensures a trained intellect, from intellect (comes) practical application, (and) from practical application (results) self- possession (1.5.16) - Keep learning Apply the Aanveekshikee in your thought process

21 2 projects Book Corporate Chanakya Audio Book Tom Alter 10 Regional Languages Film based on the book Chanakya speaks SMS Game based on the book Chanakya Institute of Public leadership (CIPL) For creating future leaders of the nation Free course

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25 Thank you.. mumbai.in Mob Swami Chinmayananda