Role of Cost and Management Accountant (CMA) in Pharmaceutical Sector

Abstract

In a global market in the contemporary economic environment all business needs relevant and appropriate information quantitative as well as qualitative information, which is adequate to survive and grow in a market. The cost and management accountant serves the business by providing adequate and timely information which enables the organization to understand and identify weaknesses in terms of efficiency improvement and quality improvement of its products and services compared to its major competitors and suggest cost effective measures to improve organizational flexibility and innovative potential to meet competitive pressures increased competition and uncertain business conditions. Cost control system plays an important role in every industry in general and pharmaceuticals in particular. Where cost is important, the role of CMA becomes more important. This paper tries to enumerate the role of CMA in the growth of pharmaceutical sector in India.