In the wake of the financial crisis, three-quarter of the world's Chief Executive Officers (CEOs) say more emphasis should be placed on measuring the value of non-financial assets such as intellectual capital and customer relationships to drive long-term performance, according to research from the American Institute of CPAs (AICPA) and Chartered Institute of Management Accountants (Cima).
But just 51 percent of nearly 300 CEOs surveyed in 21 countries say their organisations currently measure the value of non-financial assets well or very well. And only 12 percent now turn to their finance teams for help with the task.
AICPA and Cima are releasing these findings at simultaneous events in New York, London and Karachi launching at the Chartered Global Management Accountant (CGMA) designation.
"Businesses are facing unprecedented challenges. One of the key struggles faced by CEOs is building sustainably for the future in the face of a fixation on financial, short-term gains," said Charles Tilley, FCMA, CGMA Chief Executive of Cima. "Our research shows there is an unmet need in the measuring of non-financial information within organisations.
Management accountants, who have the depth and breadth to understand the business from multiple perspectives, can help businesses succeed in troubled times and create long-term sustainability."
AICPA and Cima have partnered to elevate the discipline of management accounting, which sits at the intersection of finance and strategy, and establish a global quality standard through the CGMA designation.-PR
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