CMA National Management Accounting Conference to highlight Total Cost Management as enabler of econo

CMA National Management Accounting Conference 2016 will highlight the importance of Total Cost Management to improve the competitiveness and effectiveness of organisations especially in the manufacturing sector and state-owned institutions.

Total Cost Management (TCM) is a systematic and structured approach to understanding the costs of an organisation, with the aim of providing a holistic framework to control, reduce and eliminate costs. Cost management is a philosophy, an attitude and a set of techniques to create more value at lower cost. In this fast pace competitive scenario, cost management information increases customer value.

TCM is spread across governments, companies, state-owned enterprises, government projects and all undertakings whether private or public and provides a holistic framework to control, reduce and eliminate costs throughout the value chain. This process of managing the financial outcome of activities encompasses all operations both internal and external.

TCM is also one of the most powerful tools that companies can wield in their quest for competitive advantage.

Increased global competition has forced companies to think aggressively about effective cost management. A low cost high quality product has become an object of desire, to gain a competitive edge. It is essential that cost management addresses not just individual activities or cost centres but the entire value chain.

The inauguration of the conference will be on 11 July at Cinnamon Lakeside and the “CMA Excellence in Integrated Reporting Awards 2016” will also take place at this ceremony. 

The keynote speaker at the conference will be National University of Singapore Department of Accounting Head Professor Ho Yew Kee. He will speak on the topic “Total Cost Management in the Development of the Economy – Singapore Experience”.

The technical sessions will be on the 12 and 13 July and will consist of eight technical sessions with two panel discussions and will feature a total of 40 eminent speakers and panellists both local and foreign.

The 1stTechnical Session will be on Total Cost Management and the Economy and the Key Note Address at the Technical Sessions will be delivered by Minister of Finance Ravi Karunanayake. A panel discussion will follow and will have eminent economists and business personalities on the panel. 

The topic on Cost Competitiveness & TCM as a Key Enabler will have the CII TCM India members together with a presentation on practical experiences in an industry presented.The third session will be on Regional Experiences in Total Cost Management from the Management Accounting bodies in India, Pakistan, Bangladesh.

The final session on day 1 will be a key note address and a panel discussion on “TCM in Government and State Owned Enterprises to achieve Financial Discipline”. This session will have Senior Ministers, Members of the Committee of Public Enterprises and Public Accounts Committee and Secretaries of key Ministries.

On the second day there will be a Key Note Address on “TCM Impact on Infrastructure Development” and other addresses on Public and Private Partnership in infrastructure projects which will include the Chinese Port Development Project in Colombo.

The 6th technical session will be on “Integrated reporting” Practical aspects”. The Key Note Address will be made by Prof. Mark Graham University of Capetown, South Africa. This will be followed by a panel discussion comprising those practising integrated reporting, University Professors, industry specialists and IIRC.

The 7th technical session will be“TCM to achieve Global Competitiveness”. This will cover the major industrial sectors of apparel and rubber based industry. The other speaker will be on the “Growth of the IT and ITES sector”.

The final session will be a panel discussion on “TCM- Key Enabler of Economic Development- Role of Business Sector, Professionals and Universities”. We will have key panellists from the industrial, professional and University sectors represented at the panel discussion.

The conference is specially meant for Directors, CEOS, Management and Financial Accountants, Managers and Executives in Marketing, IT, Human Resource, Banking, Finance, Insurance, Key Management of State Owned Enterprises and Government, lecturers of Universities, Technical Colleges, Professionals and others in industry, commerce, non- profit institutions and professional bodies..   

Those interested to register for the conference can contact MsShanthi on 071-4705536

e mail. [email protected] or before 30th June. Special discounts will be applicable based on the number of registrants.