Page 7 - Finanancial Management_Feb_Apr23

Trusted

for a reason

By Andrew Harding, FCMA, CGMA

t won’t have escaped your attention y Our Supply Chain Overview during which the commercial world has
that recent economic conditions course can help you recognise the been transformed many times over, we
have been making our role as value chain, think about supplier have had to constantly adapt and update
management accountants both management, and learn about cost ourselves.
Imore complicated and more vital versus value drivers. CIMA’s CGMA Professional
than ever. y You can use our scenario planning Qualification has been kept at the very
The war in Ukraine and the toolkit to evaluate the risks that need leading edge of modern business
normalisation of higher interest rates are mitigating in your supply chain. knowledge and practice. The CGMA
among the factors that have wreaked Using our expertise along with these designation that the qualification entitles
havoc on business models, supply resources, we have been able to guide you to use showcases the knowledge and
chains, and balance sheets. Many of us organisations to adapt and survive in these expertise of a management accountant. It
had hoped that we would be planning for difficult times. Management accountants is instantly recognised and respected by
growth and expansion by now. Instead, are also demonstrating their value by employers and business partners
we find ourselves dealing with complex assessing the viability of new and existing everywhere. The strength of the brand
situations and intractable issues, where projects and analysing the performance of means they know that a CGMA
the right path to take is not always clear. existing business models under new designation-holder will bring high-
PHOTO BY STEVE FORREST/STEVE FORREST PHOTOGRAPHY
circumstances. The need for our analysis quality skills to their organisation.
Supply chain disruption increases in difficult economic times. That recognition is AICPA & CIMA’s
To take a single example of how greatest asset. The power of the CGMA
management accountants are proving Why our analysis is trusted brand is at the very heart of the value we
their worth, consider supply chains. Advice is only valuable if you are trusted provide to our members, to businesses,
These have remained in a disrupted state to deliver it. As management and to wider society. We should cherish
since the pandemic, and the effects are accountants, we must do everything we it, protect it, and enhance it at every
still rippling around the global economy. can to ensure that we are trusted by available opportunity. ■
In this new environment, some supply organisations and business leaders.
chains that used to work are now too long Because of our strong track record, that is
or contain vulnerable links that need exactly what happens. For more than 100 Andrew Harding, FCMA, CGMA, is chief
rethinking. It is our role to analyse and years this organisation and our members executive–Management Accounting at
address the risk this poses to our have been serving the needs of business, AICPA & CIMA, together as the
organisations. and the public interest, to impeccably Association of International Certified
As always, AICPA & CIMA have high standards. Professional Accountants.
resources to help navigate this: To thrive for that length of time,

6 I FM MAGAZINE I February 2023