On October 22, CIMA and AICPA released Global Management Accounting Principles, which are available for download at CGMA.org.
　　When explaining the principles, the first thing I usually mention is that they are not a prescriptive set of rules. They are principles-based, comprehensive, best-practice guidance designed to help organizations (and specifically finance leaders, CEOs and boards) benchmark and improve their management accounting functions.
　　The Global Management Accounting Principles encompass four core principles focused on four outcomes:
　　Influence- Communication provides insight that is influential
　　Relevance- Information is relevant
　　Value- Impact on value is analyzed
　　Trust- Stewardship builds trust
　　The principles outline the fundamental values and qualities that represent management accounting. Application of the principles, combined with talented people and robust performance systems, will help drive effective management accounting functions.
　　The document is most impactful in section five, where the core principles are applied to 14 management accounting practice areas. Here, extensive good practice guidance is provided in key areas such as treasury management, financial strategy, cost transformation, budgetary control, investment appraisal and risk management. The guidance can be used to self-assess existing processes.  A diagnostic checklist is available to facilitate the review.
　　A complimentary resource to the management accounting principles is the CGMA Competency Framework, which is designed to help management accountants understand knowledge requirements and assess skills needed for current and desired roles. In addition to technical areas, the Competency Framework addresses business, people and leadership skills.
　　The Global Management Accounting Principles are focused on the organization. The Competency Framework is directed at the individual. Combined, they are powerful tools that we hope you and your team find useful.
　　來(lái)源：AICPA China