Presented by:Academy of Management

Accountancy of Nepal(AMAN)

PresentersK.P. Khatiwada

D.P. DahalJ.M. Lamsal

Institution Registered in Nepal

➢ Authorized Service Provider- Academy of Management Accountancy/Nepal (AMAN)

➢ MOA- Singed on November 12, 2018 in Maleborne, Australia

➢ ICMA Regional Director- Kumar Khatiwada

➢ AMAN Executive Team:

➢ Kumar Khatiwada- President (Reg. Director, ICMA-Australia)

➢ Dol P. Dahal- Executive Director

➢ Jhalak Mani Lamsal-Executive Director

➢ Members: Lok Man Maskey, Yogendra Chhetri, Sitaram Chaudhary

➢ Website is under construction: www. Aman.org.np

MOU signed with ICMA on behalf of AUDAN- Mohan R. Regmi, President, witnessed by

ICAN Council member, Then KTM Chair-B.S. Bista

What is CMA

Global Accounting Bodies

Management Accountant vs. Financial

Accountant

Scope of CMA

Pathway to Become CMA

Cost to Become CMA

Opportunities

Is a professional certification credential in the management

accounting and financial management fields

The certification signifies that the person possesses knowledge

in the areas of financial planning, analysis, control, decision

support, and professional ethics.

Offered by the Institute of Certified Management Accountants

from Diff. Accounting Bodies from diff. countries.

CMA-certified professionals work inside organizations of all

sizes, industries, and types

Institute of Certified Management Accountant(ICMA), Australiawww.cmawebline.org

Below are recognized by the ICMA,Australia as having a recognized accounting qualification. All Chartered Accounting bodies worldwide AICPA (USA) ,CPA Australia MIA (Malaysia) MICPA (Malaysia) ICPAS (Singapore) ICA (formerly ICWA) (India) , ICMA (Pakistan) ICMA (Bangladesh)

ICMA Australia Recognizes; CIMA (UK)

CACA (UK)

ICSA (UK),

CGA (Canada)

SMA (Canada)

CPA (Philippines)

ICMA (PNG)

CPAC (China)

LACPA (Lebanon)

CPA Ireland

Saudi Organization of CPAs (Middle-East)

Auditors Association of Nepal(ICAN Members)

The ICMA offers seven levels of membership with differing education and

experience requirements:

Post-graduate level

CMA - Certified Management Accountant

➢University Graduates in Accounting: Graduate or postgraduate

degree in Accounting from an accredited or government

recognised university can sit for the 2-subject (Strategic Cost

Management & Strategic Business Analysis) CMA Program. In

addition to the educational qualifications, please note the

experience requirements for AMA and CMA membership.

➢Members of other recognised professional accounting bodies can

sit for the 2-subject Strategic Cost Management

➢ Strategic Business Analysis) CMA Program. In addition to the

educational qualifications,

Graduate level

➢ AMA - Associate Management Accountant

GMA - Graduate Management Accountant- Eligibility-

at least 3 years experience

◦ The GMA Conversion program is open to any

Graduate or Professional in any discipline to obtain

the pre-requisites to undertake CMA Preparatory

Program.

◦ The program consists of 4 units:◦ Financial Management◦ Financial Statement Analysis◦ Financial Modelling◦ Managerial Accounting

Technical level

CAT - Certified Accounting Technician

RBA - Registered Business Accountant

RCA - Registered Cost Accountant

Affiliate level

MAA - Management Accounting Affiliate

Post graduate Level:

CMA PROGRAM

1. Organizational Management2. Accounting Principles & Practice3. Accounting Control Systems4. Financial Information Systems5. Financial Economics6. International Business Law & Governance7. Business Analysis & Audit8. International Business Taxation9. Financial Accounting10. Marketing Management11. Information Management12. Strategic Management13. Financial Management14. Financial Statement Analysis15. Financial Modelling16. Managerial Accounting17. Strategic Cost Management18. Strategic Business Analysis

Purpose Financial Accounting Management Accounting Remarks

Input Level

Financial accountants record the company/firm’s activities done during the period & its financial position at the end of the accounting period

Use of Financial planning, analysis, control, and decision supports

Involve on perpetrating standards

Formulate, adopt and implement Accounting and Auditing Standards

Formulate, adopt and implement Cost Accounting and Auditing Standards (CAAS) in some countries but not all

Statutory Audit

Implement statutory Financial Audit Periodically and used for internal and external purpose both

Implement statutory Cost Audit as provided in the Companies Act of the country as required and used for internal both purpose

Purpose Financial Accounting Management Accounting Remarks

Informational value

Financial Accounting gives out information about the enterprise’s financial activities and situation

Management accounting is about getting the information from cost accountants and financial accountants and then using it for decision making purposes

AuditRole

Statutory Financial

Audit and member of

IFAC

Some countries allow Statutory cost and management audit and become member of IFAC, some not

GeneralAuditing Role

Certify and give opinion on the Financial report prepared by management

Prepare and check accounting and Financial report periodically and as required by management

Purpose

Financial Accounting Management Accounting Remarks

Dealing with Reports

Deal with the preparation & presentation of financial statements

Financial and Cost a/c supports MGMT and in turn management accounting pushes cost/Expenses further according to the needs of the management- Strong bond betn Finance, cost and management a/c

User Persons who make use of these financial statements are foroutsiders like banks, share holders, creditors, government authorities etc

Persons who make use of these financial statements/management reports are for internal use only and are very confidential

Audit Type

Reactive Proactive

CountryStatutory Financial Audit Regulatory Body

Cost & Management Accounting regulatory Body

s}lkmot

India

:yfkgf !($(

Under Mininsry of Corporate affairs

yfkgf !(%(

Under Ministry of Corporate affairs

ICAI :jtGq

?kdf ;+rflnt

5}g .

Pakisthan:yfkgf M !(^!

Status: Independentyfkgf M !(%!

;/sf/L dfGotf M

!(^^

ICAP

:jtGq

?kdf ;+rflnt

5 .

Bangladesh:yfkgf !(&#

Under Ministry ofCommerce

:yfkgf M !(((

Under Ministry ofCommerce

ICAB :jtGq

?kdf ;+rflnt

5}g .

Sri-Lanka:yfkgf !(%(

:yfkgf M@))) CAIS :jtGq

Chartered Accountants Act introduced in 1997◦ Auditors importance increased◦ Scope of work increased◦ Recognized as technical profession◦ Introduced Technical Standards

Is it enough ?

NO

Discrimination created between member once ICAN Act introduced

Accounting Qualification was not given to Auditors Self respect is needed to Auditors The strong voices are being raised to disqualify RA –See

article-nagarik news, CA Sarokar etc recently

So, Professional Accounting Certification is required.

Degree in Accounting, Commerce or Finance, or

an MBA or Professional Qualification from other

Accounting Bodies. (NOTE: CMA membership

requires the successful completion of the CMA

Program (2 post-graduate level subjects) and 5

years business experience);

◦ Strategic Cost Management

◦ Strategic Business Analysis

If you are a qualified accountant, and have over 20-years relevant experience you be exempted from having to sit for exams (under ICMA’s 20-year rule)-No transcript

However you still have to attend and follow the CMA course and do the assessments within it when it runs, even though you then do not have to sit the exams.

Those having between 10-20 relevant experience have a choice of sitting the 2-paper exams OR writing a research paper.

They too have to attend and follow the CMA course and do the assessments within it when it runs

Recognized as a qualified Accountants

Req. of Masters Degree in Business

Management is waved

Masters degree with 5 years experience – 2

papers exam or research writing (dissertation)

Candidates having Bachelors degree in MGMT

with 20 yrs accounting/auditing experience

will be eligible to become CMA

Certificate of Membership and Transcript

Note your name to participate in October course schedule

Trick to yes or no for confirmation in your attendance sheet

We need your confirmation by July 31, 2019

If we could not receive by July 31, we may not be able to resister

your name for 1st batch !

Hurry Up !!! This is 1st

group . 1st

group is always valuable

and precious in history

Thank You !