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WHY CMA ????? ############# In today’s dynamic and uncertain world of business buffeted by persistent possibility of global shocks, it has become essential to devise a strategy where the business gets value for every penny spend. Here, CMAs steps in with their skill sets to make it possible. The emerging complex business environment has resulted in a situation where it is expected that instead of restricting themselves to conventional accounting and auditing, cost accountants will increasingly contribute towards the require relevant and appropriate information- quantitative and qualitative, which is adequate to take decisions that will assist the business in sustaining and growing in the competitive market place. The main objective of business organization is to maximize wealth or put it in other words to be profitable in the short-tern as well as in the longterm. In order to ensure this, all business must have a management information system, which may vary from simple information system to a complex statistical and analytical system or Decision Support System (DSS) according to the requirement of business. The most important is the financial management information system as it plays a crucial role in strategising appropriate policy for risk mitigation. Management Information System (MIS) developed with assistance of CMAs gives regular financial reports to management at all levels regarding performance measures in financial and non financial terms. This enables the organization to understand and identify weaknesses in terms of efficiency Cost Control and Reduction ‘Cost Accounting’ measures and reports information relating to cost of acquiring and utilizing resources for operations of the organization. It provides information for management and financial accounting. Cost management in turn describes the approaches and activities in short-run and long-run for planning and control decisions of managers. The resultant decisions increase value to the customers and lower costs of products and services. Cost management is an integral part of a company’s strategy to achieve competitiveness in the market place. As the market place becomes highly competitive, in which price at which a product will be sold is largely determined by market forces, there is persistent pressure to achieve target cost through cost control and cost reduction. This can be achieved through devising management accounting system by CMAs. CMAs utilizes his training and skills to architect a management accounting system and management information system, which is in tune with its organizational objectives, organizational culture, operations, structure and human resources. This is because sound information is the basis of rational decision making in any organization. The role of the CMAs becomes highly specialised and immensely important for functioning of the organisation. management of scarce resources and take strategic decisions for corporate with long term implication. ########################################### FWI - THE FINANCE SCHOOOL , CALICUT CMA | ACCA ADMISSION FOR UPCOMING BATCHES CONTINUES.................... FOR ENQUIRY CONTACT : 8330812121 ################################################# #CMA #COST_CONTROL #COST_ACCOUNTING #SCOPE_OF_CMA #COST_MANAGEMENT #MANAGEMENT_ACCOUNTING #CMA_COACHING_INSTITUTES_KERALA #PLACEMENT_RATE_IN_CMA #CMA_ABROAD_OPPORTUNITIES #FINANCIAL_ACCOUNTING
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