IMA Releases New Report on Costing Models for Internal Decision Support

Giuseppe Barone
(201) 474-1681

Taylor Fenske
Stern Strategy Group
(908) 325-3866

Montvale, N.J., October 29, 2019 – IMA® (Institute of Management Accountants) has released a Statement on Management Accounting (SMA), “Costing System Attributes that Support Good Decision Making,” which can serve as an important resource for management accountants interested in addressing the internal decision-support capabilities of their organizations’ costing systems.

“The need for effective managerial costing systems is often overlooked and current costing practices at most organizations are not providing adequate decision-useful information,” said co-author Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE, professor-in-residence and vice president of research and policy at IMA. “Organizations looking to succeed in the digital economy need to develop managerial cost models that enhance managerial decision making.”

This report provides the tools to:

  1. Assess the level of internal decision-support cost information an organization needs to enable managers to meet the organization’s goals and objectives;
  2. Evaluate an organization’s current managerial costing capability and identifying areas for improvement; and
  3. Evaluate managerial costing solutions, such as software, to determine if they satisfy an organization’s decision-making needs.

This report serves as a companion to an earlier SMA, “Developing an Effective Managerial Costing Model,” that builds on IMA’s Conceptual Framework for Managerial Costing (CFMC).

This SMA, written by IMA’s Managerial Costing Task Force, is part of IMA’s ongoing efforts to advance a key competency of professional accountants in business. The members of the Task Force include Lawson, who serves as chair; Kip Krumwiede, IMA director of research; Gary Cokins, Doug Hicks, Monte Swain and Larry White.

To read the full report, visit here.

About IMA® (Institute of Management Accountants)
IMA®, named the 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, 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) and CSCA® (Certified in Strategy and Competitive Analysis) programs, continuing education, networking, and advocacy of the highest ethical business practices. IMA has a global network of more than 125,000 members in 150 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit