CMAs (Cost and Management Accountants) are forward looking, unlike traditional accountants who focus on reporting past performance.
A CMA's role is geared towards assessing business possibilities, grasping opportunities and shaping the future of organizations. They will have the strategic insight to assess risk and make vital business decisions based on a robust understanding of the business environment.Cost and Management Accountants are typically qualified to engage in a wide variety of business CMAs (Cost and Management Accountants) are forward looking, unlike traditional accountants who focus on reporting past performance.
Cost and Management Accountants are typically qualified to engage in a wide variety of business - related activities such as:
- Working across the business interpreting financial data for non-financial manager
- Explaining the financial consequences of management decisions and suggesting possible
courses of action
- Advising managers on the financial and economic implications of project management
- Making strategic decisions and formulating business strategies to create wealth and
- Monitoring spending and the effectiveness of financial control
- Managing risk and business assurance
- Cost determination and financial control
- Evaluating existing financial information systems and suggesting improvements thereof
- Conducting internal business audits and preparing periodic financial statements for
- Explaining the impact of the competitive landscape.
- CMAs can also be self-employed as practising Cost and Management Accountants, Management Consultant, Cost Auditor, Tax Adviser, etc.
CMAs combine a high level of financial and management expertise with excellent business acumen and decision-making skills. This makes them essential to every business in all sectors covering Industry, Commerce, Government, Semi Government, Autonomous Bodies, Public Sector and not-for-profit Organizations.