The ministry of human resource development is ruled High education organizations in India and is funded by the central government and state government, as the government gives a big fund to academic institution, the government on that part, it wants to know how the academic organization using public funds. Similarly, other stakeholders such as management, general public, governing boards, etc. also want to know the use of funds. The financial details of high education organizations are lacking uniformity. They follow the different accounting practices, mostly they prepare their financial details according to the acts of whom they are registered but it does not address the concern of the stakeholders and government accounts, India’s government has mandated that all central higher education organization and universities regulated by the UGC or receiving grants from UGC to apply on accrual basis of accounting and prepare their accounts as per the accounting standard released via ICAI from FY 2013-14 onwards has been compulsory. It is required to check whether the central high education organizations are following the accounting standards and the use of the impact of accounting. This study will help the government to take action further, central high education organization to improve their reporting, and the massive public, how to check that the selected organizations are using public funds.

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Keywords: Education, Human Resource, Accounting Standard, Financial Statements, Accountability.