Skip to main content

CMAs: Corporate India’s new target

Express News Service

BHUBANESWAR: Being a cost accountant might have been a dream for many but today it has become the ultimate goal. As a matter of fact, in this globalised and competitive environment, corporate India is hunting for cost accountants like never before.

Cost and Management Accountants (CMAs) are no more associated with book keeping and auditing. Of late, the industry has realised on investing their expertise for effective and efficient use of financial tools in managing resources.

With increase in competition and consequent economic pressure, cost and management accountancy has been interwoven into the main fabric of management practice. Studies, no wonder then, estimate that corporate India is facing an acute shortfall of CMAs. The handful that are passing out annually are being lapped up in no time.

Click here to read more

Did you like to remain updated in Accountancy?
Subscribe to Management Accountant by Email

You may like to read

  1. Visionary Approach to Name Change

Comments

Popular posts from this blog

Learning Curve Theory

Learning Curve Theory is concerned with the idea that when a new job, process or activity commences for the first time it is likely that the workforce involved will not achieve maximum efficiency immediately. Repetition of the task is likely to make the people more confident and knowledgeable and will eventually result in a more efficient and rapid operation. Eventually the learning process will stop after continually repeating the job. As a consequence the time to complete a task will initially decline and then stabilise once efficient working is achieved. The cumulative average time per unit is assumed to decrease by a constant percentage every time that output doubles. Cumulative average time refers to the average time per unit for all units produced so far, from and including the first one made.

Major areas within management accounting where learning curve theory is likely to have consequences and suggest potential limitations of this theory.


Areas of consequence:
A Standard Costing

Throughput Accounting

Throughput accounting (TA) is an alternative to cost accounting proposed by Eliyahu M. Goldratt. It is not based on Standard Costing or Activity Based Costing (ABC). Throughput Accounting is not costing and it does not allocate costs to products and services. It can be viewed as business intelligence for profit maximization. Conceptually throughput accounting seeks to increase the velocity at which products move through an organization by eliminiating bottlenecks within the organization.


Cost (or Management) accounting is an organization's internal method used to measure efficiency. Since no one outside the organization uses such internal accounts for investment or other decisions, any methods that an organization finds helpful can be used.


Throughput accounting improves profit performance with better management decisions by using measurements that more closely reflect the effect of decisions on three critical monetary variables (throughput, inventory, and operating expense — defin…

ICWAI recognised by CPA Australia

From 1 June 2009 if you held, or hold, full membership of a professional body recognised by CPA Australia you can apply for Associate membership.
An assessment of your professional qualifications will be conducted to determine your eligibility. The examinations you completed as part of your membership will be considered in regards to our core knowledge requirements, and the result of your eligibility for Associate membership will be advised accordingly.

Recognised professional bodies * The Association of Chartered Certified Accountants (ACCA) * The American Institute of Certified Public Accountants (AICPA) * Chartered Institute of Management Accountants (CIMA) * The Chartered Institute of Public Finance and Accountancy (CIPFA) * Certified General Accountants Association of Canada (CGA-Canada) * The Society of Management Accountants of Canada (CMA Canada) * The Hong Kong Institute of Certified Public Accountants (HKICPA) * The Institute of Certified Public Accountants of Kenya (ICPAK) * Institut…