CMA PROFESSION

COST AND MANAGEMENT ACCOUNTANCY PROFESSION IN INDIA

1. With the globalization of all economic activities, the industries both in manufacturing and service sector have recognized the potential of Cost and Management Accounting profession in giving support in effective resource management and making the operations more cost effective for facing the challenges of management
2.  Cost and Management Accountants provide services in investment planning, profit planning, project managementand overall managerial decision making process. Many members of the Institute are holding top management positions, viz., Chairman, CEO/CFO, Managing Director, Finance Director, Financial Controller, Chief Accountant, Cost Controller, Chief lnternal Auditor etc.
3. Central Government has constituted an all-India cadre known as Indian Cost Accounting Service (ICAS) at par with class-I services for framing f iscal and tax policies
4. The Specialised knowledge and skill of the professional members of the Institute are being given due recognition for different Audit or Certification work under different statutes like maintenance of Cost Accounting Records and Cost Audit under section 148 of The Companies Act, 2013 and Valuation Audit
5. Cost and Management Accountants (CMAs) have a leading and important role to play in GST era. Advisory services like Impact Study, Contract Review, Impact on Pricing Model, Business Structure revamping, Supply Chain Management, Logistics and Distribution Systems, Business process mapping in GST etc. including filling up of Monthly/ Quarterly/ Annual return