7+(0$1$*(0(17 THE MANAGEMENT ACCOUNTANT ACCOUNTANT THE MANAGEMENT SEPTEMBER 2016 9 51 NO. VOL. 7+(-2851$/)25&0$V $&&2817$17 ,661 6HSWHPEHU92/123DJHV ÃÌÊ «iÌÌÛiiÃÃ ` 100 «iÝÌÞÊÌÊ v`iVi 7+(,167,787(2)&267$&&2817$1762),1',$ 6WDWXWRU\ERG\XQGHUDQ$FWRI3DUOLDPHQW ZZZLFPDLLQ www.icmai.in September 2016 The Management Accountant 1 2 The Management Accountant September 22016 www.icmai.in The Institute of Cost Accountants of India PRESIDENT THE INSTITUTE OF COST ACCOUNTANTS OF INDIA CMA Manas Kumar Thakur (erstwhile The Institute of Cost and Works Accountants
[email protected] of India) was first established in 1944 as a registered VICE PRESIDENT CMA Sanjay Gupta company under the Companies Act with the objects of
[email protected] promoting, regulating and developing the profession of COUNCIL MEMBERS Cost Accountancy. CMA Amit Anand Apte, CMA Ashok Bhagawandas Nawal, On 28 May 1959, the Institute was established by a CMA Avijit Goswami, CMA Balwinder Singh, special Act of Parliament, namely, the Cost and Works CMA Biswarup Basu, CMA H. Padmanabhan, Accountants Act 1959 as a statutory professional body for CMA Dr. I. Ashok, CMA Niranjan Mishra, CMA Papa Rao Sunkara, CMA P. Raju Iyer, the regulation of the profession of cost and management CMA Dr. P V S Jagan Mohan Rao, accountancy. CMA P. V. Bhattad, CMA Vijender Sharma It has since been continuously contributing to the Shri Ajai Das Mehrotra, Shri K.V.R. Murthy, growth of the industrial and economic climate of the Shri Praveer Kumar, Shri Surender Kumar, country. Shri Sushil Behl The Institute of Cost Accountants of India is the only Secretary recognised statutory professional organisation and CMA Kaushik Banerjee,
[email protected] licensing body in India specialising exclusively in Cost Sr.