Role of Cost and Management Accountants in IFRS Regime

Abstract

IFRS has today become a universal financial reporting language through which all the global companies are communicating with its global investors rather than having a divergent set of standards applied differently in different countries. Against this background the present article begins with the concept and background of IFRS. The article further highlights the evolution of management accounting and explores the changing role of Cost and Management Accountants (CMAs) in IFRS regime.