KUALA LUMPUR, Malaysia, March 23, 2016 /PRNewswire/ -- Tuition providers in Myanmar that have registered to teach the professional accounting qualification offered by the Chartered Institute of Management Accountants (CIMA) had the opportunity to learn about the Global Management Accounting Principles developed by CIMA and the American Institute of CPAs (AICPA) during a recent seminar conducted in Yangon.
The principles are intended to help businesses make the best decisions, respond appropriately to risks they face and protect the value they create. As a guide to best practice, the principles describe what an effective management accounting function does to provide insight that is influential, information that is relevant and informed analysis that has impact, while building trust through confident stewardship. The principles have been standardised by the British Standards Institution (PAS 1919) as best in class, representing the first step to ensuring a benchmark for world-class management accounting functions.
During the seminar, Dr Zaw Win Thein, Principal of Zaw Business School, spoke on the use of the Global Management Accounting Principles for tuition providers in Myanmar. He said:
"By using the principles, we can communicate to the students that CIMA is the most relevant qualification for finance and business leaders as they will be equipped with the four important skills of technical, business, people and leadership skills. When students pass the CIMA exams and become members of CIMA, they will also hold the Chartered Global Management Accountant (CGMA) designation. As CGMAs, the impact for the students is that they will receive greater employer recognition and enjoy more employment opportunities. CGMA is powered by two reputable accounting bodies, CIMA and AICPA, thus increasing the trust and credibility of the CIMA tuition providers among the local stakeholders and regulators."
Shavonne Sim, Head of CIMA SE Asia said:
"In an age where 42% of organisations have lost their competitive advantage because of slow decision-making, according to a new CGMA research report 'Joining the dots' (bit.ly/CGMAjoinDots), an effective management accounting function is vital to driving better business. We addressed this by introducing the Principles. CIMA and the AICPA are currently developing a new self-assessment tool that will enable all organisations to gauge the effectiveness of their management accounting functions and to identify areas for improvement. Launching this year, the tool will become a key part of a corporate performance management system."
Enquiries
BL Chua
T. +6010 400 2962
E. beelee.chua@cimaglobal.com
