Oh god ,

Such recognition is apprecited suppoing my self as Council member. arre pahele general member ko samhalo na.. then try to face council member.

Veryu i am delighted to be reffred as council member.

I always felt that a collaboration of ICAI and ICWAI is very much required as both are statutory setups moving in same direction.

Now I realise after reading related posts by various brilliant CCIans the necessity of being independent by both the Institutes. Each took birth with a purpose and should continue as such. I vote for that.

Simply put, ICWAI and ICAI shine under the blessing of our legislations without which they are nothing. They cannot be said to be the "manufacturer" of knowledge but are the "distributor" of knowledge as we copy almost everything from west. They should be viewed strictly in the regulatory context and knowledge dissemination is subsidiary to the main function.

Thank you all.

(Mr. Raj, you are excellent!. Keep going.)

Mr. Gupta,

I am short of words for your admiration! If you believe just signing the Balance Sheets is a bliss then just try to understand how joyful that person would be who helped the company to achive its  "value" as per that balance sheet.

Cost Accountants perfectly understand what their job is even if not told by others.

I feel you are not aware who Shri Raman is. 

My posting was to address a specific issue of differentiating an independant body of knowledge from a specialised body of knowledge. Certainly not as to  which has more practising opportunities. That way the whole world of accountants know as to how the big firms earn revenue from statutory or management consultancy. I will not allow myself defocussed from basic issues raised.

The field of knowledge of gynaecology can never be widened and deepened by general practitioners. You need specialists for that. But specialists have the unique advantage being sound in basic knowledge with an added advantage of a specialisation. I cannot help it.

A.N.Raman

Raman Sir,

Big four needs quality in the services or CA or CMA, they dont ask for statutory recognitiion of the cousre. Take the example of CIMA or CMaAUs, they are no tghings to do with public practice, though they are well accpeted by industry, just because og their quality , not becoause of their name fame or any things esle.

IF CWA is exceelent in quality over CA , no body can refrain it from taling due recognition in the publci. but if just branding for competion with , no things is going to be achieved evenm today ro tommoroowor for ever.

You are right Raj., Cost Accountants want to be as their counterpart in the west., at the same time, wants to retain the statutory power.

You people are welcome to join CA.

Dear Mr Rajat Gupta,

Again and again we are drifting back from the basic points posted and answered and in circle we debate over the same points adequately focussed earlier.

An accounting body is not all about generating areas of practice. A professional Accounting body has to educate, perform applied research, disseminate the research findings, take positions on not only regulatory and compliance issues but also performance of business etc in its chosen field of specialisation. Globally one can easily locate that CA and CPA bodies do more work of above nature on accounting , audit and taxation whereas CIMA and CMA bodies do more on their chosen area of specialisation. That is how they developed their brand and not in terms of by being not in practice and do something else. Even today CIMA paper on Tomorrow's corporate is a hot intellectual output.

In India , till 1991-92 the country was witnessing intense regulatory framework and accounting professions were more focussed on that. ICWAI had to only develop its position in that domain and hence was given a statutory role in application of cost accounting in regulatory regime. Those who argue against even the new framework of Cost Audit today are blissfulle unaware of the restructuring in that as an enabler of Total Cost Management after the Expert Group Report in 2010. ICWAI can leverage and rise as a comprehensive body of cost and management accounting by education, research and dissemination and not purely a body pursuing practice in CMA. This would be good for the nation. Simply because, the competitive environment requires different maturity in management of enterprises thereby raising the bar on management accounting practices. this has been documented with insight in the Expert Group of MCA with a sole dissent from ICAI .

Unfortunately, even visionary answers and responses with deep insight are superficially read and not understood  resulting in zigzag answers . I am not sure whether it is worth its time to attempt such exhaustive answers in this forum with no equally enlightening responses bariing one or two. That itself shows as to who is interested in management accounting.

A.N.Raman

Respected Raman Sir,

Your stature as Core Member  of IFAC and President SAFA is much above the maturity level of this portal and even presidents of ICAI(old  & new). All the prestigious CA & CMA Institute of the World (recently Australia) have given you memberships and commemorations. No Professional Accountant has reached to your status till date in this country.   Your knowledge level is far above  and beyond and beyond the thinking level and height of participant here. All the members participating here together are not even an iota of you.  They try to answer you instead of learning, admiring and gaining. This pained every member of this august accounting profession. Its reminds me an old English Proverb   “Casting pearls before ……”.

Respectful regards

Mr. Raj Kumar Gupta,

Is there a reason why the other link "ICWAI demands removing the word Chartered from ICAI" , cannot be seen in this portal?

kind regards,

Devrajan,

There is no answer for any dout and suspense. and no answer can satisfy you even.

Mr.Gupta,

I am sure there are no suspense. It could be a technical problem, since you are now a friend with whom I communicate more often than others, thought you might be knowing.

If you don't know, no problem, does not change anything.

Cheers, happy interacting.

Mr Raman,

You want to focuss  only on  the name change game. You as intellctual   not replying to quires asked by peolpe or say laymen.thats whyyou are getting zig zah answers.

You say  indian corporate is not matured , so that cost accounting can not be left without regulation.

my simple question ( reply ) , why icwai can not wait  for name change till the corporate india got maturity?

you know very all there are enough CA's in the country to handle all the cost related regulations and compliances

why you even as CA not promoting CA for entire public practice , and promoting CWA as international management qaulification like AICPA and CIMA UK has just entere into joint venture for global internal certified management accountant.?

you  are not suggesting  ICAI , MCA GOI to  separate icwa enterly from public attestation function to pay attention on reseacrh , education and inention. Make our Indian CMA short term cousre like one offred by IMA US or CIMA . 

WHY this 18 subjects covering entire fiedl of finance ( currecnt CWA inlcudes CA, CMA , CS CFA and MBA finance)? You know this is only on the papers. what is quality of Indian CWA you know better.

why this zig zag in the syllabus?

Management Accounting as said not rerquired  to regulated , why you as large intelltual even representing IFAC  not  persaude IFAC on globla lebel so that all CMA bodies can be regulated. why double standard?

There is no objection from any accountant (be CA or CPA or general Certified Accountant or ACCA , whatever name say simply accountant)  for renaming cost acounting as management one  if you define domain or scope of management accounting as independent body of knowladge.

Just on the basis hypocracy of Word "management " to enjoy broad meaning and scope of the word " Management, you all are trying to name change. Even you know you hates to be called simply as cost Accountant. but on the other hand i am proud of being called an accountant , because this what , i am first. May be designation chartred or certified or public nay any things .

you feel as cost accountant you have become outdated , but whole wordl feel CAor ACCA or CPA are an independent body of knowledge and thay are made for public services first . their existaance is required even today and tommorrow.

Thank you,

Mr. Gupta,

The problem is not with the layman asking a questionl. The problem is with the layman asking a question with an answer already in mind. How can you fill a cup that is already full. You first need to empty the cup, so that you can put in water in that.

Similarly with learning.

Simply pulling up sentences, words, pharases out of its context and building ones next line of defence  / argument  is neither learning nor seeking an answer.

Cheers,

Who said and belive Management Accounting need not be regulated . Please see EGR!  Enterprise Management  is full of regulation  worldwide !

Student :- "What is this management accounting? Is this an independent body of knowledge?"

Answer :- 

Management Accounting is an advanced arm of Cost Accounting & Cost Accountancy is an advanced form of Financial Accounting. That is why all Cost Accountants are expert Financial Accountant but not vice versa!