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IMA Welcomes Comments to Managerial Costing Exposure Draft
July 12, 2012
Stern + Associates
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Montvale, N.J., July 12, 2012 – The IMA® (Institute of Management Accountants) Managerial Costing Conceptual Framework (MCCF) Task Force welcomes comments from management accounting professionals, academics and professional associations regarding its new exposure draft, “The Conceptual Framework for Managerial Costing.” The exposure draft and instructions for submitting comments are available at http://bit.ly/Odf5sG. The deadline for submissions is August 31, 2012.
These comments will help the MCCF task force define the principles, concepts and constraints for costing. In turn, these clarifications will help management accountants design and compare costing approaches to generate cost information that reflects the operations and economics of an organization. Distinct from costing frameworks that pertain to financial reporting statements, IMA’s framework focuses on costing for operations inside an organization.
“Currently, there are no costing frameworks that define and apply costing principles, which provide information on business decision support for use inside the organization, and align operations to an organization’s strategic goals,” said Larry R. White, CMA, CFM, CPA, CGFM, chair of IMA’s MCCF Task Force. “IMA strives to fill this void to improve management accounting practice and help organizations improve performance.”
IMA encourages professionals working in business and industry, in particular, to comment by providing views on the effectiveness of the framework. IMA will collect comments and expects to publish a final MCCF later this year. Visit http://bit.ly/Odf5sG to participate and learn more.
About IMA® (Institute of Management Accountants)
IMA®, the association of accountants and financial professionals in business, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 65,000 members in 120 countries and 200 local chapter communities. IMA provides localized services through its offices in Montvale, N.J., USA; Zurich, Switzerland; Dubai, UAE; and Beijing, China. For more information about IMA, please visit www.imanet.org.
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