Monday, September 26, 2016

A New Era of Management Accountants to Power Up Indian Businesses

The conditions in which businesses now operate are volatile and uncertain. ‘Business as usual’ no longer exists and the rules of the game are being transformed.

The role of management accountants has evolved over a period of time to become key players in business. It is for this reason that the CGMA Competency Framework was developed in partnership with CIMA’s joint venture partner, the American Institute of CPAs (AICPA), to equip Chartered Global Management Accountants (CGMAs) with the skills necessary to navigate the ‘new’ business world.

CIMA felicitated new CGMAs at a convocation event on Wednesday, September 21st, 2016 at J W Mariott Sahar, Mumbai.

At the event, a total of 144 new CGMAs celebrated their success and were presented with certificates by Andrew Miskin, CIMA President. Expressing his happiness, he said, “The day marks the culmination of the year filled with learning, networking, growth and career progress and signifies a step forward for our new CGMAs. The members rightfully deserve the certificates and acknowledgement that the convocation ceremony brings and it is both a pleasure and an honour to share this celebration with them. I am positive, that employers worldwide will recognize them for their financial expertise and business acumen which will further give a boost to their career.”

Management accounting, in the present complex industrial world, has become an integral and essential part of the business. Management Accountants guide and advice for effective and valuable influence over the quality of organisations’ decision making and performance management. In the current business environment, business leaders are struggling to make the right decisions. They find themselves battling against bureaucratic decision-making processes, soloed and short-term thinking, breakdowns in trust and collaboration inside the organisation and difficulties with translating the large volume of information into relevant knowledge. The solution to many of these decision-making challenges can be achieved through integrated thinking — cutting through silos to connect the relevant people and information from across the organisation. CGMAs join the dots in this way to enable them to see the big picture. It means that all of the relevant insight is available when making decisions.

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