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1、TRUSTVALUE RELEVANCEINFLUENCE Global manaGement accountinG principles Effective management accounting: Improving decisions and building successful organisations two of the worlds most prestigious accounting bodies, aicpa and cima, have formed a joint venture to establish the chartered Global managem
2、ent accountant (cGma) designation to elevate and build recognition of the profession of management accounting. this international designation recognises the most talented and committed management accountants with the discipline and skill to drive strong business performance. cGma designation holders
3、 are either cpas with qualifying management accounting experience or associate or fellow members of the chartered institute of management accountants. 1 contents 1. introduction 4 Improving decision-making 5 Purpose 7 Intended audience 7 Success factors 7 2. the Global management accounting principl
4、es 8 Communication provides insight that is influential 9 Information is relevant 10 Impact on value is analysed 11 Stewardship builds trust 11 3. How the Global management accounting principles are applied 13 People 13 Performance 15 Practices 17 4. application to performance management 18 5. appli
5、cation to practices 23 Cost transformation and management 28 External reporting 29 Financial strategy 30 Internal control 32 Investment appraisal 33 Management and budgetary control 35 Price, discount and product decisions 36 Project management 38 Regulatory adherence and compliance 39 Resource mana
6、gement 40 Risk management 41 Strategic tax management 43 Treasury and cash management 44 Internal audit 46 6. updates and related matters 48 7. Glossary 49 2Global manaGement accountinG principles: improving decisions and building successful organisations list of fiGures Figure 1 constituents of an
7、effective management accounting function 4 Figure 2 the Global management accounting principles 5 Figure 3 the Global management accounting principles (detailed) 9 Figure 4 the cGma competency framework 13 Figure 5 the changing role of management accountants 14 Figure 6 management accounting linking
8、 strategy to the business model 15 Box 1 relationships, resources and risks 16 Box 2 Data plans 19 Table 1 application of the Global management accounting principles to the performance management system 21-22 Figure 7 the key activities of a management accounting function 23 Box 3 management account
9、ing tools 24 Table 2 core practice areas of the management accounting function 25-27 3 Quality decision making has never been more important or more difficult. Competition is relentless, as new innovations and innovators daily disrupt the status quo. The volume and velocity of unstructured data is i
10、ncreasing complexity. Impulse is taking over insight as organisations struggle to keep pace. The Global Management Accounting Principles were created for this era of business. Management accounting is at the heart of quality decision making, because it brings to the fore the most relevant informatio
11、n and analysis to generate and preserve value. The Principles guide best practice. They were prepared by the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (CIMA) which together represent more than 600,000 members and students in 177 countries. They reflect the
12、perspective of CEOs, CFOs, academics and other professionals contributed during a global consultation across five continents. There are four principles focused on four outcomes: Influence Communication provides insight that is influential. Management accounting begins and ends with conversations. Th
13、e Principles have been designed to help organisations cut through silos and encourage integrated thinking, leading to better decision-making. Relevance Information is relevant. Management accounting makes relevant information available to decision- makers when they need it. The Principles provide gu
14、idance on identifying past, present and future information, including financial and non-financial data from internal and external sources. This includes social, environmental and economic data. Value Impact on value is analysed. Management accounting connects the organisations strategy to its busine
15、ss model. This Principle helps organisations to simulate different scenarios to understand their impact on generating and preserving value. Trust Stewardship builds trust. Accountability and scrutiny make the decision-making process more objective. Balancing short-term commercial interests against l
16、ong run value for stakeholders enhances credibility and trust. The Principles are intended to be universally applicable to help organisations large and small, public and private extract value from the increasing volume of available information. They are aimed at chief executives, chief financial officers and other members of boards of directors who have oversight of their organisations performance. Investors and other stakeholders will also find them useful. This document details ho
