Presentation on Management Accounting

By Anand Guled

Definition
According to CIMA the process of identification, measurement, accumulation, analysis, preparation, interpretation and communication of information used by management to plan, evaluate and control within an entity and to assure appropriate use of and accountability for its resources.

International Financial Reporting Standards

IFRS are Standards, Interpretations and the Framework for the Preparation and Presentation of Financial Statements adopted by the International Accounting Standards Board (IASB).

Objective

A framework is the foundation of accounting standards. The framework states that the objective of financial statements is to provide information about the financial position, performance and changes in the financial position of an entity that is useful to a wide range of users in making economic decisions, and to provide the current financial status of the entity to its shareholders and public in general

Adoption of IFRS

Australia Canada European union Russia Turkey Hong Kong Singapore US India Japan

Certified Management Accountant

CMA certification is a comprehensive credentialing program that assesses mastery of the management accounting and financial management body of knowledge. Subject matter includes economics, corporate finance, cost management, internal controls, performance measurement, financial reporting, decision analysis, organization management, and strategic planning, with a strong emphasis on ethics. To date, the Institute of Certified Management Accountants (ICMA), the certification division of IMA, has awarded more than 30,000 CMA certificates in the U.S. and internationally

CMA focuses on
Business Analysis Management Accounting and Reporting Strategic Management Business Applications

The CMA program has been designed to meet the evolving needs of business and is focused on the dynamic roles that management accountants and financial managers play inside organizations. Certified professionals can enjoy greater career opportunities and earning potential than their non-certified counterparts

The Institute of Chartered Accountants of India

ICAI is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. The ICAI now is the second largest accounting body in the whole world

Functions
ICAI are prescribing qualifications for Membership, holding examinations, arranging practical training for candidates, enrollment of members, publication and maintenance of register of qualified Members, carrying on activities for development of profession and maintenance of status and standard in the profession.

Institute of Certified Management Accountants

ICMA introduces THE INSTITUTE OF CERTIFIED CARBON ANALYSTS AND AUDITORS (ICCAA). The principal object of the ICCAA is therefore, to advance, promote, measure, regulate and provide assurance certification of carbon credits for the effective implementation of emissions trading systems aimed at encouraging participation in carbon credit markets by its members to improve environmental sustainability and provide solutions to reducing the greenhouse effect and resultant climate change

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