The Management Accountant - February 2024
The pioneering Journal of the Institute, “The Management Accountant” has been published since January 1966. It is being published regularly keeping in mind the needs of the Cost and Management Accountants (CMA) and provides wide knowledge on the recent developments and changes in the global, national, financial and economic scenario. The rich contents in the Journal keep informed the readers of sound professional ethics and keep them abreast of new developments.
www.icmai.in
February 2024 - The Management Accountant
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PRESIDENT’S COMMUNIQUÉ
(SAFA) for the year 2024.
My Council Colleagues CMA Rajendra Singh Bhati, CMA
(Dr.) Ashish P. Thatte and CMA Neeraj Joshi represented
the Institute in the SAFA meetings and other events on 18th
& 19th January, 2024. They also participated in the Joint
International Cost Conference organized by CMA Sri Lanka
and ICMAI on “Cost & Effect on Industry and Services to
Drive Business Performance” and a Meeting with the Cost
and Management Accounting Standards Board of CMA
Sri Lanka on 20th January, 2024 at Colombo, Sri Lanka.
43rd Regional Cost Conference-2024 of EIRC of
ICMAI
I am pleased to inform that the Eastern India Regional
Council (EIRC) in association with Bhubaneswar Chapter
have successfully conducted the 3-Day 43rd Regional Cost
Conference-2024 on the theme “
: New Bharat – A
Paradigm Shift – Challenges & Opportunities” at Puri,
Odisha from 12th January, 2024 to 14th January, 2024.
CMA Pradip Kumar Das, Chairman & Managing Director,
IREDA inaugurated & graced the day-1 of RCC-2024 as
the “Chief Guest” in the presence of Guests of Honour Shri
Pankaj Lochan Mohanty, Chairman & Managing Director,
MGM Mineral Limited and CMA Gagan Bihari Swain,
Director (Finance & Corporate Affairs), GRIDCO Limited.
Smt. Ahuti Swain, Director (Personnel), Eastern Coalfield
Limited was the Chief Guest for Day 2 of the event and
CMA Ramesh Chandra Joshi, Director (Finance), NALCO
Limited graced and addressed the valedictory session as
Chief Guest.
The 43rd Regional Cost Conference-2024 was a resounding
success, fostering discussions on the paradigm shift in New
Bharat and providing a platform for knowledge exchange and
networking. Around 600 participants including Corporate
Delegates, Practicing Cost Accountants, Academicians,
Bankers, CMA members and Students actively participated
from across the nation and culminated with a grand success.
CMA Bibhuti Bhusan Nayak, Vice President, ICMAI
along with other members of the Council of the Institute
participated in the event. I congratulate CMA Uttam Kumar
Nayak, Chairman and other RCMs of EIRC of ICMAI and
Managing Committee members of Bhubaneswar Chapter
for the successful conduct of the event.
I wish prosperity and happiness to members, students and
their families on the occasion of Basant Panchami, Shivaji
Jayanti & Guru Ravi Das Jayanti and pray for their success
in all of their endeavours.
With warm regards,
CMA Ashwin G. Dalwadi
February 02, 2024
Corporate Social Responsibility (CSR) Practices,
Audits and Report Verifiers: This document
underscores our steadfast commitment to advancing
responsible business practices and upholding the
highest ethical standards within the realm of CSR.
Guidance Note on Carbon Credit Mechanism,
Greenhouse Gas Accounting, ESG Reporting with
different Sustainability Standards (including the
current IFRS S1 and S2 Standard), and the Role
of Cost Accountants: This document will provide
Cost Accountants with the essential information
and tools to effectively traverse the intricate aspects
of carbon credit mechanisms, greenhouse gas
accounting, and ESG reporting.
I hope that both these publications will be extremely
useful to our members and other stakeholders for an effective
understanding of contemporary AI methodologies, enhance
their contributions to the CSR domain and sustainable
development.
Career Counselling Month
I congratulate CAT Directorate for celebrating the month
of January 2024 as CAT Career Counselling month of CAT
Course, with a focus to Reach the Unreached sections of
the country. The restart of career counselling activities
will certainly give an impetus to the popularity of the CAT
course. I urge the Regional Councils and Chapters to give
wholehearted support to popularize the CAT Course of the
Institute through their established good offices. A special
acknowledgement goes to CMA Rajendra Singh Bhati,
Council Member & the young and dynamic Chairman of
the Committee for Accounting Technicians, for his great
initiative in spearheading this valuable endeavour. His
leadership and commitment have undoubtedly contributed
to the success of the Career Counselling month, and I
commend his efforts in promoting the CAT Course.
I hope that the initiatives of the CAT Directorate will
inspire and guide the youth towards fulfilling and successful
careers in accounting through the CAT course.
CAT Course for retiring/retired Defence Personnel
I had informed you in one of my past communiqués
about the inaugural of CAT course batches for retiring/
retired JCOs/OR & their equivalent in association with
Directorate General of Resettlement (DGR), Ministry of
Defence, Government of India in different locations. One
more batch commenced on 23rd January, 2024 at CMA
Bhawan, Noida.
SAFA Events in Sri Lanka
The Institute of Chartered Accountants of Sri Lanka
hosted the SAFA meetings on 18th & 19th January, 2024
in the premises of CA Sri Lanka, Colombo, Sri Lanka. I
congratulate Mr. Heshana Kuruppu on his appointment
as the President and Mr. Ashfaq Yousuf Tola as the Vice-
President of the South Asian Federation of Accountants
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