by Suman Gupta
The Institute of Cost Accountants of India (ICMAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation, regulates the profession of Cost and Management Accountancy, enrols students for its courses, provides coaching facilities to the students, organizes professional development programmes for the members and undertakes research programmes in the field of Cost and Management Accountancy. The Institute pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession. In today’s world, the profession of conventional accounting and auditing has taken a back seat and cost and management accountants increasingly contribute towards the management of scarce resources like funds, land and apply strategic decisions. This has opened up further scope and tremendous opportunities for cost accountants in India and abroad.
The Institute functions under the administrative control of the Ministry of Corporate Affairs, Government of India, having four Regional Councils at Kolkata, Delhi, Mumbai and Chennai, 117 Chapters in India and 11 Overseas Centres. The Institute is the largest Cost & Management Accounting body in the world with about 1,00,000 qualified CMAs and over 5,00,000 students pursuing the CMA Course. The Institute is a founder member of International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA) and South Asian Federation of Accountants (SAFA). The Institute is also an Associate Member of ASEAN Federation of Accountants (AFA) and member of the Council of International Integrated Reporting Council (IIRC), UK.
National Seminar on International Management Accounting Day
The National Seminar titled “Navigating the New Frontier: Management Accounting in the Era of RealTime Insights, Sustainable Growth, and Cybersecurity” is organized by the Institute of Cost Accountants of India (ICMAI) to celebrate International Management Accounting Day. This event aims to explore the evolving landscape of management accounting in today’s dynamic business environment. Topics to be covered include leveraging real-time insights for decision-making, driving sustainable growth strategies, and addressing the critical role of cybersecurity in financial management. Participants can expect insightful discussions, expert presentations, and networking opportunities to enhance their understanding of contemporary management accounting practices.
This Seminar will be immensely beneficial for professionals both in practice and in service. For those in practice, it offers insights into cutting-edge techniques and tools to optimize client services, enhance business performance, and stay competitive in the market. Similarly, professionals in service will gain valuable knowledge to streamline internal processes, improve financial reporting accuracy, and contribute effectively to organizational growth and resilience. By attending this seminar, participants can acquire practical skills and strategic insights essential for navigating the complexities of modern management accounting, ultimately advancing their careers and delivering greater value to their clients or organizations.
