The Indian Railway Institute of Financial Management at Secunderabad, a centralized training institute of the Ministry of Railways, was commissioned in December 2019 for training of Indian Railway Accounts Service officers. The objective of the institute is to give relevant and impactful training to Probationary Officers of the Railway Accounts department as well as to be a Learning Organization by encouraging research to create knowledge centres in diverse areas; the ultimate aim is best possible service to the nation.
Within Indian Railways, the Finance Officer's job as a Management Accountant is to furnish and interpret financial statements, compile cost data and prepare cost reports, explore avenues of controlling staff and material costs, institute and operate budgetary control procedures, and participate in all Capital expenditure and rating/pricing decisions. This involves an irrevocable commitment to Management, and calls for a high degree of professional training and competence. The Finance Officer must also ensure compliance with the standards of financial propriety with respect to all public spending. To train the newly recruited officers to equip them with accounting, financial management and leadership skills is IRIFM’s commitment.
The institute has a fifteen acre green campus with five modern class rooms, a spacious auditorium, residential accommodation to cater to eighty officer trainees, a wealth of trees, and excellent sports facilities. The residential experience here is ideal for creating camaraderie and lasting relationships. It is our aim that over the years IRIFM would grow into a centre of excellence and come to play a pioneering role in professionalising railway accounting.