Publication Date: 2023/12/16
Abstract: This paper examines the dynamic contribution of cost and management accountancy beyond financial reporting and delves into the transformative impact that Cost and Management Accountants (also known as Certified Management Accountants) are set to play in propelling emrging economic order towards socieconokic economic vibrancy in digital era. While traditionally confined to financial reporting, CMAs have undergone a metamorphosis into strategic partners, actively contributing to diverse facets of organizational management. Research findings underscore their expanding responsibilities encompassing strategic decision-making, cost management, risk mitigation, performance evaluation, innovation, policy formulation, and a global perspective. Renowned institutions and experts validate these multifunctional roles, underscoring the pivotal role of CMAs in shaping economic growth. By actively engaging CMAs in decision-making and policy formulation, the borderless realms of industry, trade, and commerce can harness their expertise to enhance efficiency, competitiveness, and sustainable growth. Their global outlook uniquely positions them to facilitate international business activities, strengthening their role in the global economy.The cost and management Profession ‘ inertia overrules the inherrent shortcoming of financial accountancy profession.
Keywords: Cost and Management Accountancy, Certified Management Accountants, Economic Vibrancy, Strategic Management, Sustainable Development, Global Perspective, Socioeconomic Growth.
DOI: https://doi.org/10.5281/zenodo.10393827
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT23NOV2206.pdf
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