ICMA holds conference on Management Accounting and Value Creation

ICMA Pakistan organised an International Conference on "Management Accounting and Value Creation" on April 06, 2013 at a local hotel at Lahore. The conference was aimed at deliberating ways to achieve economic prosperity. The speakers at the conference emphasised that Pakistan has enormous resources and there is only need to ensure effective and judicious utilisation of resources that also include professional development of human resources.
While highlighting the need of Management Accounting, the chief guest Nazir Ahmed Shaheen, Executive Director, Company Law Division, Securities and Exchange Commission of Pakistan (SECP) said that economic prosperity depends on smooth functioning of economic activities. He said that living around two big nations, China and India, we need to be competitive and it can only be done if we focus on cost efficiency.
The Guest of Honour, Gulzari Lal Babber, President, Chartered Institute of Management Accountants (CIMA) United Kingdom emphasised that corporate sector should have strategy to survive both in prosperous and difficult times. It is the strategic plan that can save organisations with economic pit falls. He said that Management Accounting can help organisations develop desired strategy for continuous success and growth.
The President ICMA Pakistan, Zia-ul-Mustafa, in his welcome address, said that as a nation we avoid documentation. He said that we are a population of approximately 200 million and to cater nation's need, there are more than 500,000 businesses on small, medium and large scales are operating in the country. He said out of this strength only approximately 30,000 businesses are registered with SECP and out of which active entities are less than 5,000. He said that almost all governments tried their best for documentation of economy but hardly achieve a real success.
He said that there is a systematic, less complicated and simple approach required along with mass level awareness about its significance. He said that Management Accounting methodologies by default help organisations fulfil regulator's documentation and taxation requirements while achieving internal efficiency leading to smooth, transparent and successful operations.
The conference was addressed by prominent speakers from the corporate sector including Sajjad Ahmad, General Manager (Cost Accounts), PTCL who spoke on Management Accounting for Sustainability. Tariq Sultan, Director General (Revenue Assurance), Pakistan Telecommunication Authority (PTA) addressed on the topic of Management Accounting for Implementing Organisation's Strategy. Kashif Mateen Ansari, CEO, Sachal Energy Development (Pvt) Ltd highlighted on the topic of Entrepreneurship and Management Accountant.
Jawed Mansha, Assistant Secretary & DGM Corporate Affairs, PIA, spoke on the Role of Government Accounting. Muhammad Ashraf Bawany, Deputy Managing Director, Linde Pakistan Ltd addressed the participants on the topic of Managerial Innovation. Abdul Khalil, Council Member and Chairman CPD Committee delivered vote of thanks, on the occasion.
The conference was organised in connection with MoU signed between ICMA Pakistan and CIMA UK last evening. The CEOs, CFOs, COOs, Company Secretaries, Chief Internal Auditors from the regulatory authorities, public and private sector organisations, chambers, stock exchanges and hundreds of professionals including members of ICMA Pakistan and CIMA UK, serving on top management positions, attended the conference. The participants applauded the efforts of ICMA Pakistan in discharging its effective and due role in overall economic development of the country by very frequently organising such conferences of national and international stature.-PR