Management Accounting in India

Abstract

India is undergoing a rapid transformation. Recent events, including its currency demonetization, the rapid rollout of digital banking, and the introduction of a new nationwide goods and service tax (GST), are signs of the dramatic economic, social, and political changes taking place. This transformation will provide significant opportunities — and challenges — for Indian businesses. Management accountants can play a unique role in guiding their organizations in this changing business environment. No longer is their role confined to the accumulation and reporting of financial data. IMA® (Institute of Management Accountants) research has shown that finance and accounting professionals around the world are partnering with others inside their organizations to help formulate, evaluate, and implement their organizations’ strategy.

Keywords: India, Management Accounting

JEL Classification: M40, M41