A comprehensive framework for businesses to manage risk and make better decisions
TOKYO, March 1, 2018 /PRNewswire/ -- The world's first universal framework to guide best practice and bring consistency to management accounting around the world is now available in Japanese. The Association of International Certified Professional Accountants (the Association) — the unified voice of the Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA) — announced the launch of the new Japanese language version of the Global Management Accounting Principles today, at the CPE Seminar on Best Practice of Management Accounting at Hyatt Regency Tokyo.
Andrew Harding, FCMA, CGMA, Chief Executive – Management Accounting, Association of International Certified Professional Accountants, said: "In today's volatile operating environment all parts of a business need to support the creation of value. Built by finance practitioners for finance practitioners, the Principles are a free resource for commercial and not-for-profit organisations that support the decision-making process. The Principles provide a framework to help leaders identify appropriate responses to business risks and protect the value they generate".
The Principles set out a blueprint for better business, equipping everyone throughout an organisation – from the board and CEO to managers – with a guide to make better decisions.
The Principles were developed in consultation with more than 3,000 CEOs, CFOs, academics, regulators, government bodies and other professionals from 20 countries across five continents. They were created by CIMA and the AICPA – whom together form the Association, now representing more than 650,000 members and students in 179 countries.
The Principles complement the CGMA (Charted Global Management Accountant) Competency Framework, which provides management accountants and their employers with a structured approach to competency development.
The Principles form the basis of management accounting standard PAS 1919, which has been designed as a best-practice guide to management accounting, allowing organisations to benchmark their finance function. The standard is available to download from the British Standards Institution's website.
Prof. Masaaki AOKI , Phd, Director of Tohoku University Accounting School, Senior director of JAMA, Project sub-leader for GMAP-Japanese version also commented "The world is becoming ever more connected through technology and common practices among finance professionals. I think that management accounting plays a critical role in our new era. Introducing the Principles to Japan will enable our finance functions to benchmark themselves against world class practices. We are pleased to make this free resource available in Japanese here to help finance professionals and business succeed."
For more information about the Principles, visit www.cgma.org/principles to download the Japanese language version visit: https://www.cgma.org/resources/reports/globalmanagementaccountingprinciples/principles-
framework.html
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