As per the current practices across the globe, there are only six countries , there is concept of management Accounting or management accountant. Out of them , Canada US and Uk are main. In the case of US Management accounting bodies have been set up as private or society . CIMA in the UK , don have statutory for audit. CA UK is the regulatory of accounting.
CIMA is running accounting course , which is much more like MBA course They are more interested in international bussiness. ICWAI is also claiming management accounting on the above ground. ICWAI should be allowed to be Management Accounting provided It should be registered as Private or society or non Statutory body. and the same should be involved in international education market like its ally CIMA. We feel proud if our sister organisation goes international aerana.
We can have following types of accounting bodies in India , if we accept assertion made by ICWAI on Management Accounting . As there is no meaning of word " Management Accountant" in the world.
ICAI = The Institute of Company Accountant of India ( We have read topic in Advanced Accounts)
IPAI = The Institute of Partnership Accountant of India
ICAI= The Institute of Computer Accountants of Indian ( A private institute famous in our locality)
ICAI = The Institute of Cost Accountants of India ( Already we have )
ICPAI = The Institute of Certified Public Accountants of India
IMAI = The Institute of Management Accountant of India
IFAI= The Institute of Financial Accountant of India
IBAI= The Institute of Banking Accountant of India ( A chapter read in CA Syllabus)
IEAI = The Institute of Electricity Accountant of India (A chapter read in CA Syllabus)
IPAI = The Institute of Project Accountant of India ( generally heard in Industries )
IGAI= The Institute of General Accountant of India
IGAI= The Institute of Goverment Accountants of India
Please , any one can further add much more .
CAclubindia
