-CHENNAI, December 19, 2011
“Rwanda is interested in building skills and will join hands with the various accounting bodies in the country,” said its High Commissioner to India, Williams Nkurunziza, on Sunday.
Inaugurating the Institute of Cost and Works Accountants of India – Southern India Regional Council (ICWAI-SIRC) programme December 2011 to June 2012, he said that Africa needed cost accountants to convert Rwanda's agrarian economy into a robust industrial economy by teaming up with various institutions such as accounting bodies.
“We don't want to wait for 100 years for this to happen. We are opening up our economy and some of your graduates can come directly to work for us or set up accounting firms. Rwanda does not have even a single institute of accounting firm. We are here to build relationships,” he said after inaugurating the December 2011 – June 2012 batch of ICWAI programme.
He also pointed out that cost accountants were critical to enhancing company's efficiency and profitability by taking into consideration the prevailing economic situation in mind. Efficiency and profitability were the main drivers of the country's economic growth. Cost accountants should convert India into a stronger, effective and globally competitive member of the business community.
N.K. Ranganath, Chairman, Confederation of Indian Industry – Tamil Nadu State Council (CII-TNSC), said that cost accountants had a larger role to play as they were capable of influencing the company and country to cut down costs.
“In the last one month, my company's product cost went up by 13 per cent due to rise in petroleum prices. We are looking towards cutting cost and are seeking the advice of cost accountants, who could tell us how to minimise costs, instead of what has happened in the past. Apart from managing accounts, companies are also seeking professionals' help to manage foreign exchange volatility, raw material cost and to analyse the market situation,” he said.
M. Gopalakrishnan, ICWAI president, said that ICWAI laid emphasis on providing training to cost accountants in non-financial areas and basic skills as these were sought after in the marketing, quality assurance and logistics among others. While urging the students to develop soft skills, he said, “At least 200 companies should come forward to provide practical training to these 1,200 students. Unless mentored by seniors, cost accountants cannot become complete future-oriented professionals.”
B.R. Prabhakar, ICWAI-SIRC chairman, said that they are joining hands with CII to conduct programmes jointly to prepare industry-fit cost accountants. The Institute had tie-up with international professional bodies such International Federation of Accountants, Confederation of Asian and Pacific Accountants and south Asian Federation of Accountants.
https://www.thehindu.com/todays-paper/tp-national/article2727579.ece
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