Books Every Accountant Must Read: From Data to Stories

Books Every Accountant Must Read: Book No. Twenty-One

Book: From Data to Stories

Author: Richie Lionell V and Ramya Mylavarapu

4th March 2025, India entered into final of ICC Champions Trophy 2025 beating a strong opponent team Australia in semi-final. A proud moment for every Indian. But if you was the one of cricket lovers who was watching match live, must have noticed, Commentators Mentioning Old Matches, specially painful memories of the 2023 ODI World Cup final in Ahmedabad, where Australia triumphed by six wickets, and the 2015 World Cup semi-final loss in Sydney, adding context to India’s redemption narrative. They were talking about many past matches, records of individual players, players against countries, players against players (Who was bold by whom), No of sixes, fours, half centuries, full centuries. It reminded me about very advance data matrix. There is flow of Data, just pick the piece and put it where it is needed. Sidhu Paji's and Harbhajan funny Conversations, commentary in regional languages makes matches more interesting but thing amazed me was the big volume of data related to cricket used in these matches. 

Not about Sports, but also in Business World, The success of companies today is increasingly tied to their ability to collect, analyze, and act on data. Data serves as a foundation for decision-making, strategy, and operational efficiency and create value in ways that were unimaginable a few decades ago.

Data may be of different forms e.g. Structured Data (Organized and easily searchable), Unstructured Data (that lacks a predefined format like emails, social media posts, videos, images, and PDFs), Semi-Structured Data (A hybrid of the two like XML files), Quantitative Data (Numerical that can be measured, such as revenue, website traffic, or temperature readings), Qualitative Data (Descriptive, non-numerical like customer reviews, interview transcripts, or employee feedback), Real-Time Data (Generated and processed instantly, such as stock prices or live user activity on an app), Historical Data (Past data used for trend analysis, like sales records from previous years).

Companies often combine these types. For instance, a retailer might use structured sales data (quantitative) and unstructured customer reviews (qualitative) to improve its offerings.

The Book that I am recommending toady, is a unique and innovative book that combines data visualization, storytelling, and comics to make data more engaging and accessible. The authors, both data storytellers at Gramener Inc., aim to transform dry analytical reports into compelling narratives using a "data comic stories" approach, particularly appealing to beginners in data storytelling, visualization enthusiasts, cricket fans, and comic lovers.

The book is divided into two  parts:

1. Part 1: Graphic Novel
   This section presents a fictional story set during the 2019 Cricket World Cup, following characters like Ringo, Priya and Dey, as they experience the tournament's ups and downs. The narrative integrates real cricket match data, visualized ball-by-ball through histograms, charts, and comic panels. Each game India played in the tournament is condensed into insightful, one-page graphical summaries paired with the characters' reactions, making complex data relatable and entertaining. This blend of fiction, cricket, and data visualization demonstrates how numbers can come alive through storytelling.
2. Part 2: Tutorial
   The second part is a practical guide for creating data comic stories, designed for beginners with no prior expertise. It offers step-by-step instructions, primarily using Microsoft Excel, to help readers craft their own data comics. The tutorial covers finding story arcs, deriving insights from data, and combining them with comic-style visuals. The authors also introduce tools like Comicgen, an open-source comic-making library developed by Gramener, to simplify the process for non-artists.

The book’s overarching goal is to address a common challenge faced by analysts, data scientists, journalists, and marketers: communicating insights effectively to a broader audience. By merging the art of storytelling with the science of data visualization, it provides a fresh, humanized approach to presenting data, making it memorable and enjoyable.

Since there is big gap in mindsets of Data Creators/Managers (MIS or Accounts Executives) and Final Users (CxOs and Board), and due to the busy schedule of the Top Leaders they fail to share/explain exact information they need, have to waste lots of time in summarizing information, to maintain the dash board and supply the right information at right time is a very crucial task. Generating Information from the Ocean of Data is Science, but presenting the same in most useable form is an Art. And I hope, who so ever wants to understand the true nature of Data, this book would be a great help. Keep Reading, Keep Learning, Keep Growing. Thanks.

CAG Report on Delhi Health System

The CAG Report on "Public Health Infrastructure and Management of Health Services" in Delhi, tabled on February 28, 2025, by Delhi Chief Minister Rekha Gupta in the Delhi Assembly, has brought to light numerous critical shortcomings in the city's healthcare system.

Below are the key highlights of the Report:

■ Shortages of Staff: The report identifies a significant shortage of healthcare staff across various institutions. Specifically, there was a 21% deficit in the Health and Family Welfare Department’s workforce, with nurses and paramedic staff shortages at approximately 21% and 38%, respectively. 

■ Inadequate Infrastructure: Many hospitals lack essential facilities. Out of 27 hospitals reviewed:

14 lacked Intensive Care Unit (ICU) facilities.

16 had no blood banks.

8 had no oxygen supply.

12 operated without ambulance services.

15 were without mortuary services.

■ Mohalla Clinics Deficiencies: The much-touted Mohalla Clinics were found to be lacking basic amenities:

21 clinics had no toilets.

15 had no power backup.

6 lacked tables for check-ups.

12 were inaccessible to the physically disabled.

Consultations often lasted less than a minute for 70% of patients.

■ Long Waiting Times: Patients faced excessive delays for medical procedures. For instance waiting times were 2-3 months for general surgeries and 6-8 months for burn and plastic surgeries.

■ Underutilization of Funds: The report points to financial mismanagement. For example, ₹83.14 crore out of ₹119.85 crore allocated for drugs and supplies (including PPE and masks) remained unspent. During the COVID-19 pandemic, only ₹582.84 crore of the ₹787.91 crore released by the central government was utilized.

■ Limited Bed Expansion: Despite a target of adding 32,000 beds in government hospitals only 1,357 beds were added (approx 4% of the goal).

■ Cost Overruns & Delays: Significant cost overruns were noted, with an additional ₹382 crore spent beyond budgets in three hospitals. Of eight new hospitals under construction during the audit period only three were completed.

These findings reveal a stark contrast between the previous Delhi government’s claims of a robust healthcare system and the ground reality, pointing to serious gaps in infrastructure, staffing, financial management, and patient care. The report has significant implications for addressing the healthcare needs of Delhi’s growing population and underscores the urgency for reforms.

For these reports what I like, they don't just talk about shortcomings and inefficiencies in systems, but also give recommendations that what steps Govt should take to improve the system and provide better Health facility to Public. Thanks.

* If want to study/review report in detail, please use following link to have access/download the report:

CAG Report on Delhi Health System

CAG Report on Delhi Liquor Policy

AAP is in Trouble. One after One CAG Reports. If they had tabled these reports during their tenure in assembly, they could provide clarification on points raised in reports but they choose to maintain silence. Over-Confidence or Arrogance or Belief they would win once again in 2025, whatsoever reason.

Just to maintain their Credibility and to avoid any controversary later, this time CAG did not provide notional figures based on some assumptions as happened in 2G and Coal Case, but worked thoroughly on all areas covered under the Report.

Below are the key highlights based on the report:

■ Significant Revenue Loss:

The report estimates a cumulative revenue loss of approx ₹2,002 Cr due to deficiencies in formulation & implementation of Delhi Excise Policy 2021-22. Specific losses include:

₹890 Cr due to the failure to re-tender surrendered retail licenses.

₹941 Cr from exemptions granted to zonal licensees.

₹144 Cr from an irregular waiver of license fees during COVID-19 restrictions.

₹27 Cr from incorrect collection of security deposits.

■ Licensing Irregularities:

Licenses were issued without verifying solvency, audited financial statements, sales data, or criminal antecedents.

■ Quality Control Failures:

Inadequate quality assurance was a major concern. Many test reports did not comply with Bureau of Indian Standards norms, with missing or outdated reports on water quality, harmful ingredients, heavy metals, methyl alcohol, and microbiological substances.

51% of foreign liquor test reports were either over a year old or lacked dates, and some tests were conducted by unaccredited labs.

■ Monopolization and Cartelization:

Three wholesalers controlled 71% of the liquor supply, manipulating prices and limiting consumer choice.

■ Procedural and Enforcement Lapses:

Weak regulatory functioning failed to plug revenue leakages or curb smuggling effectively. The lack of a real-time barcode tracking system allowed non-duty-paid liquor to enter the market, undermining revenue and oversight.

■ Policy Implementation Shortcomings:

Key measures like establishing liquor testing labs, batch testing for quality, and creating a dedicated regulatory post were not implemented. Decisions with revenue implications (e.g., fee waivers, pricing changes) were made without Cabinet or Lieutenant Governor approval.

These findings point to systemic issues in policy design, regulatory oversight, and enforcement, resulting in significant financial losses and compromised public safety. The report was tabled in the Delhi Assembly on February 25, 2025, sparking political contention between the ruling BJP and the opposition AAP.

Will Conclude with :

मुँह में शिक्षा, स्वास्थ्य और विकास पर बगल में शराब, शराब और सिर्फ शराब।

Compliance Calendar for the month of March - 2025 (GST/PF/ESI/MCA/TDS/Income Tax)

Hi Friends, I am pleased to share the Compliance Calendar for March 2025, outlining key regulatory and statutory deadlines for the month related to GST/Income Tax/PF/ESI/ROC etc. Please note that the dates and requirements are based on the latest available information as of March 01, 2025. For any updates or changes, I recommend referring to the relevant government/tax portals or official notifications/circulars/press releases to ensure full compliance. Thanks.

*It contains dates for common compliances, for particular trade/industry related compliance, please refer related Laws.

Delhi Election : 2025 : Promises by Political Parties

February 5, 2025, Date when the fate of Delhi will once again be decided. This election is really unique, I have not seen such a strange election at state level since I started voting, in the direct fight between AAP and BJP, Congress has made a dent and made it triangular.

Sab Mile Hue Hai Ji Ek Dusre Se:

AAP says Congress and BJP are hand-in-glove and Congress has entered the election with the intention of cutting into votes of AAP only to benefit BJP as the chances of Congress winning are almost nil. (A = B + C)

BJP Says both AAP and Congress are the same. To stop the growing influence of the BJP, Congress formed the B team. AAP is only Mask, Congress is the Face. (B = A + C)

Congress says that Anna movement was created to defame the Congress by BJP. Kejriwal, who used to keep roaming with 400 pages of evidence against Sheila Dikshit ji, did not hesitate to ask for congress support for forming the government in 2013. Congress gave support with its 8 members to 28 members of AAP to Stop BJP to form the Govt but Kejriwal broke the alliance and resigned for the reason of his inability to table Jan Lokpal Bill in Delhi Assembly within 49 Days of forming Govt. (C = A + B)

Only God knows what is Truth, but one thing is definite in politics - all politicians are friends behind the stage and their supporters are enemy on the streets. (and now on Social Media).

Apart from this, the issues related to the common men are missing in this election, the fight is on who can distribute how much for free. Till yesterday, the BJP and the Congress, which used to taunt the AAP day and night for its free schemes, and used to give the people of Delhi the title of free and greedy people, are offering more free schemes than the AAP this time.

There is no discussion on issues like inflation, employment, security and the environment. While the BJP is trying to unite all Voters of a Religion so that the results of Maharashtra and Haryana can be repeated, the Congress is trying to stop them from uniting by raising the issue of caste census again and again.

While on the one hand, China is surprising the world with its progress day and night, the way it is developing its capability in the technical and military fields, it seems that it is not preparing for war with any country but with aliens. At the same time, our leaders are not able to think beyond Hindu-Muslim, free schemes and reservation.

Since these elections are state elections, you must use your vote and vote for the candidate who is the best in terms of education, availability, honesty and character instead of a particular party, If find no such candidate, then "NOTA" is also option.

A comparative analysis of the promises made by each party has been enclosed with this post so that you can have a view who has promised what and for whom. Just Hope that whosoever wins and form the government, Will focus on cleaning the Yamuna, controlling pollution, preventing crime and making Delhi a better Delhi. Thanks.

Union Budget 2025-26

 Hon’ble FM Ms. Nirmala Sitharaman presented Central Budget for FY 2025-26 Today.

The theme of this budget was GYAN.

Garib (Poor), Youth (Young), Annadata (Farmer) and Nari (Women).

Some Important Key Features of Budget:

1. Revision in classification criteria for MSMEs : 100% increase in Turnover limit and 250% in Investment Limit.

Customized Credit Cards with 5 lakh limit for micro enterprises registered on Udyam portal will be issued. In the first year, 10 lakh such cards will be issued.

2. Income Tax Slabs revised for New Tax Regime. There will be no income tax payable up to Rs 12 lakh. (up to Rs 12.75 lakh including standard deductions) *

*Even there is no change in Old Tax Regime, Still Salaried Class Taxpayers in High Tax Brackets (Rs. 36 Lakhs and above) claiming HRA Exemption, 80C, 80D with Housing Loan will find old tax regime more beneficial. Also, in my opinion it is not a good decision to exclude 80C benefits from New Tax Regime as just to avail 80C and other such benefits Tax Payers were forced to invest in LIC and Post-Office Schemes, it used to help in their bad times, as it is easy to get loan against LIC Polices or using post office savings comparing to other loan options. But now as saving habits will be broken, People will depend on high interest loans and credit cards, whenever face any financial crises.

However good for young people starting their career with good pay scale, if they learn to manage their finances.

3. TDS/TCS rationalization: To rationalize TDS/TCS, Budget doubles limit for tax deduction on interest earned by senior citizens from the present Rs. 50,000 to Rs. 1 Lakh. Further, TDS threshold on rent has been increased to Rs. 6 Lakh from Rs. 2.4 Lakh per annum. TCS won’t be applicable on transactions relating to sale of goods, the higher TDS deduction will now apply only in non-PAN cases.

4. The way other countries and proceeding in Technology Area and how China Surprised the World recently by their Innovations in AI lead by their very talented young professional team, to compete it is must for India to invest in Education and Skill Development of Talented Youth of India. Budget 2025 proposes Fifty thousand Atal Tinkering Labs to be set up in Government schools in next 5 years to cultivate the spirit of curiosity and innovation, and foster a scientific temper among young minds. Also, Broadband connectivity will be provided to all Government secondary schools and primary health centres in rural areas under the Bharatnet project. Further propose to implement a Bharatiya Bhasha Pustak Scheme to provide digital-form Indian language books for school and higher education, five National Centres of Excellence for skilling will be set up with global expertise, to facilitate education for 6,500 more students, a Centre of Excellence in Artificial Intelligence for education will be set up with a total outlay of  500 crore, In the next year, 10,000 additional seats will be added in medical colleges and hospitals, towards the goal of adding 75,000 seats in the next 5 years.

(Unfortunately, due to political reasons many important seats of prestigious institutes like IIT occupied by some student under reservation system even getting low grades get wasted, as they could not handle pressure and leave without completing their courses, in past 5 years approx. 13600 students have dropped out of IIT. Further as talented professionals do not get opportunities to match the level of their skills and knowledge, they leave with no other option than moving to other countries and there they play very important roles in technology advancement of their countries. Govt must do something to free education sector from all such political schemes and help them in other areas where they could succeed, if we truly want Brilliant Indian Minds to Contribute in Growth of India.)

5. A digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade will be set-up as a unified platform for trade documentation and financing solutions.

6. Requirements and procedures for speedy approval of company mergers will be rationalized. The scope for fast-track mergers will also be widened and the process made simpler. (Good Step, as This is the area where responsibility and accountability of related regulatory officers is required, it take years for small and medium size companies to get approval, on the other hand for big companies it is matter of few months.)

7. To streamline the process of transfer pricing and to provide an alternative to yearly examination, propose to introduce a scheme for determining arm's length price of international transaction for a block period of three years. This will be in line with global best practices.

8. Propose to extend the period of incorporation by 5 years to allow the benefit available to start-ups which are incorporated before 1.4.2030.

Hon’ble FM also proposed to introduce the new income-tax bill next week. that will carry forward the spirit of “Nyaya”. The new bill will be clear and direct in text with close to half of the present law, in terms of both chapters and words. It will be simple to understand for taxpayers and tax administration, leading to tax certainty and reduced litigation.

(This sounds terrible as We have already seen, whenever Govt talks about simplicity, things get more complex and complicated as in the case of GST, Hope Govt won’t repeat the same mistake as in implementation of GST).

Just reading highlights of Budget or some fancy headlines about Budget won’t give complete knowledge of Budget Proposals.

To understand provisions of Budget 2025-26 in Detail Please Refer Finance Bill. Link of the same is as here under:

https://www.indiabudget.gov.in/doc/Finance_Bill.pdf

Thanks.