Indian Railway Accounts: What is common with the Govt of India Accounts
1. Classification of Government Accounts i.e., Consolidated Fund of India, Contingency Fund of India and Public Account of India.
2. Voted and Charged Expenditure
3. Audit authority of Financial transactions - CAG - Comptroller & Auditor General of India
4. Funds voted by Parliament
5. Appropriation Accounts presented to Parliament
7. Account Current
8. Exchequer Control
9. Ways & Means
10. GFR - General Financial Rules
11. Demands for Grants
12. Major Heads & Minor Heads (Classification of Expenditure and Earnings)
Indian Railways: what is unique in comparing other Depts in Govt of India
1. Maintenance of Accounts by Dept itself ( in Other Depts - by CAG)
2. Operation of Minus Debit and Minus Credit
3. Keeping the accounts of the railways on a commercial basis outside the regular government account. Thus maintaining Two sets of Accounts.
4. Link Heads ( i.e., Demands Payable, Traffic, Labour & Demands Recoverable) connecting Commercial Accounts with Government Accounts.
5. Preparation of Profit & Loss Account and Balance Sheet
6. Separate Codes and Manuals