CMAs, The Lifeline of Banking

Authors

  • B. B. Goyal Former Addl. Chief Adviser (Cost) & Head, Indian Cost Accounts Service, Ministry of Finance, Govt. of India, New Delhi

DOI:

https://doi.org/10.33516/maj.v56i1.33-41p

Keywords:

No Keywords.

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.

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Published

2021-01-31

How to Cite

Goyal, B. B. (2021). CMAs, The Lifeline of Banking. The Management Accountant Journal, 56(1), 33–41. https://doi.org/10.33516/maj.v56i1.33-41p

Issue

Section

Cover Story

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