CMAs, The Lifeline of Banking

Abstract

A Bank is a financial institution licensed to receive deposits and make loans. Banks offer variety of services, number of products for deposit & lending and perform multiple activities. In all their activities and operations, Cost & Management Accountants (CMAs) and Cost Accounting Systems play very important and decisive role enabling the managements to take effective decisions & make bank favoured policies & schemes. CMAs assist the banks to accomplish its objectives; to evaluate and improve the adequacy & effectiveness of its operations, internal controls, governance processes, and the risk management & control systems. This in-turn helps banks to improve their performance, efficiency, productivity, profitability, and sustainability.