The Management Accountant Magazine - August 2020
The Management Accountant Magazine - August 2020
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In this issue
The Institute of Cost Accountants of India (ICAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation regulates the profession of Cost and Management Accountancy. The Institute also pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession.
The Institute is also successfully publishing its pioneering Journal, ‘The Management Accountant’ since 1966. This Journal is being published keeping in mind the needs of the Cost and Management Accountants (CMA), and provides wide knowledge on the recent developments and changes in the global and national financial scenarios. The wide circulation and inputs from academicians, researchers and industry stalwarts are the keys to the success of this journal.
EASE OF DOING BUSINESS RANK: A DIRECTION TO REACH NDIA'S 5 TRILLION ECONOMY TARGET
Ease of doing business rank indicates the way in which the government of particular economy managing business friendly environment by creating the policies and rules which supports productive activities and generates more revenue. Further it provides the feedback to improve the business environment to attract business community both from domestic and global context. The present paper analyses the importance of Ease of Doing Business Rank on reaching India’s 5 trillion economy target by 2024.
9 mins
TECHNOLOGICAL ADVANCEMENTS IN RENEWABLE ENERGY SECTOR
Economic development can only be achieved through greater industrialization. But industrial development depends on availability of cheap power. Rising concerns about environmental impact of power generation and sustainability of natural resources has led to greater emphasis on developing renewable energy sources on a commercial scale. In this article we discuss some of the modern technologies such as artificial intelligence and blockchains that are helping the renewable energy sector to become economically viable.
8 mins
INDIA: DESERVES TO BE THE WORLD'S NEW MANUFACTURING HUB
In view of the recent ecological and geopolitical developments in the world, there is a strong quest for world’s new manufacturing hub. This article makes an attempt to discuss the strong claim of India for this position because of its political, economical, geographical and legal edges. This article concludes with opportunity available to India and the need of policy makers to encash the same.
10+ mins
AGRICULTURE WITH SPECIAL EMPHASIS ON HORTICULTURE AND AGRIBUSINESS OPPORTUNITIES A CASE STUDY ON WEST BENGAL
West Bengal, with good productivity of agri-horticultural produce belongs to sound agri business potential. However, this potentiality gets neglected due to inadequate development and improper use of food processing infrastructures in the state. Consequently, it has to suffer average annual loss of ₹842.08 crore from wastage of agri-horticulture produces. This loss could be prevented by unlocking state’s full potentiality in agribusiness and welcoming food processing industries in the state which will contribute to the GSDP also.
4 mins
DIGITAL TRANSFORMATION OF AGRICULTURE SEEDS IN THE WOMB OF TIME
Background The first green revolution of India started from mid 1960s mainly because the rate of growth in agricultural harvests could not keep pace with population growth. The revolution was predominantly driven by the ultimate objective of achieving self-sufficiency in food and contributing to mitigate shortage elsewhere in the world. India adopted high-yielding varieties of seeds. Government’s initiatives gradually helped farmers with improved availability of irrigation facilities, fertilisers, and insecticides. This was followed by limited mechanisation of cultivation using tractors, pumps, deep tube wells, and other low-end devices for harvesting, etc.
10+ mins
MANAGEMENT ACCOUNTING, STRATEGY IMPLEMENTATION AND THE IMPORTANCE OF RISK MANAGEMENT
Management accountants today have almost everything needed to drive up the value of the corporations they work for. Management accountants possess the skills and have access to methodology and the latest technology to provide the analytic decision support that is necessary for organizations to successfully implement strategic plans and monitor performance in our time of volatility, exponential change and ever-increasing risk. Delivering excellent timely, accurate and reliable decision support information to managers and executives is the essence of management accounting.
9 mins
CMA 2.0: BUILDING CAPABILITIES WITH BIG DATA
Companies have become more dynamic and agile with the advent of Big Data. It is estimated that the available data to be processed for decision making, doubles in every 18th month. This changing business eco system demands an update in the skill set of Cost and Management Accountant (CMA). The CMAs need to build upon the existing skills and be future ready. The role of CMA can be advanced with IT skills of data management, analysis and deriving insights that lead to better business decisions. To build a competitive edge, the CMAs have to be transformed into CMA 2.0 by getting good hold on the essentials of statistics, learning new analytics courses, increase awareness, knowledge about data process and taking in charge of their own career by building right network and strong communication skills.
6 mins
Covid-19 And Its Impact And Repercussions On Global World
The global economy as a whole, irrespective of developed and developing economies; has been passing through a very critical juncture, affecting almost all the economic and social indicators of the economies across the globe. The economic and social damage is so huge that for every country, it is becoming very difficult to review their respective economic and social indicators and put their respective economies back on the track. With this backdrop, the present paper discusses the trends emerging out from the outbreak of COVID-19; effects on global trade; repercussions of COVID-19 and how to minimize the loss economic and social due to outbreak of COVID-19.
5 mins
The Management Accountant Magazine Description:
Publisher: THE INSTITUTE OF COST ACCOUNTANTS OF INDIA
Category: Business
Language: English
Frequency: Monthly
The Institute of Cost Accountants of India (ICAI) is a statutory body set up under an Act of Parliament in the year 1959. The Institute as a part of its obligation regulates the profession of Cost and Management Accountancy. The Institute also pursues the vision of cost competitiveness, cost management, efficient use of resources and structured approach to cost accounting as the key drivers of the profession.
The Institute is also successfully publishing its pioneering Journal, ‘The Management Accountant’ since 1966. This Journal is being published keeping in mind the needs of the Cost and Management Accountants (CMA), and provides wide knowledge on the recent developments and changes in the global and national financial scenarios. The wide circulation and inputs from academicians, researchers and industry stalwarts are the keys to the success of this journal.
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