The Chartered Institute of Management Accounting: Major Step in Professionalising

The Chartered Institute of Management Accountants (CIMA) has sponsored the creation of the first accounting standard for world management, encoding a universal framework for best practice in decision-making.

PAS 1919: 2016 Guide to the principles of management accounting was published this week by the British Standards Institute, with the participation of organizations, including Sky, the Environment Agency, Fujitsu, Siemens and the NHS. It is intended as a guide of good practices for accounting management, organizations assess their role of financing and unlock the full contribution that management accounting can afford.

Tony Manwaring, executive director of CIMA, foreign affairs, said: "In the environment of rapid and difficult today, it is essential that organizations from all sectors, geographies and of all sizes can make decisions about driving success short, medium and long -term. PAS 1919 provides a better framework in its class to allow the leaders of the public and private sectors and the third to do so.

" The specification is based on accounting principles Global Management, created in 2014 by CIMA and the American Institute of Certified Public Accountants"

CIMA is currently testing a diagnostic tool self-assessment based on the principles and SAP, to be launched later this year, which will provide a practical resource for diagnosing the effectiveness of management accounting in organizations, large and small .

Tony Manwaring said: "As management accounting moves into its second century, our principles are the framework that provides information in organizations is influential, relevant and supports the analysis of a foundation of trust in business in a way that It enables organizations worldwide to create and preserve value. "