KARACHI:Group Country Manager of United International Group (UIG) Dr Murtaza Mughal has said accountants play a very pivotal role in the national economic development and policy making.
Management Accounting plays a crucial role in the financial management and decision making of any organization while it is a great tool for budgetary control, taxation and auditing, he said. Cost and management accountants play a central role in designing and implementation of Management Information System, Managing Financial Operations, Reporting, Financial and Non-Financial Analysis, Pricing, Banking Affairs, Asset Management and Ensuring Insurance of Resources etc., he added.
Dr Mughal said this while inking a deal with the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) regarding the provision of motor insurance to the later. The deal will cover the vehicles of Seven thousand members of ICMA, staff and students of the institution on very reasonable rates with attractive value added benefits including free toeing of the accidental vehicle to the workshop, PA cover for the driver up to one hundred thousand rupees, death repatriation and funeral expenses of the driver, while they will also get forty percent rebate in insurance cover while travelling abroad.
The agreement was signed by Dr. Murtaza Mughal and Muhammad Arif FCMA, Vice Chairman, Islamabad Branch Council, ICMA Pakistan. Those present on the occasion included Adil Amin FCMA, Chairman Islamabad Branch Council, ICMA Pakistan, Jamshed Akhtar ACMA, Member CPD Committee, IBC, Abdul Rab Khan ACMA, Secretary IBC, Zakir Hussain Satti FCMA, Director North Region, Arshad Kadhar ACMA, Member Welfare Committee, Islamabad Branch Council, ICMA Pakistan, Asfia Hanif, Assistant Director Marketing and Communications, ICMA Pakistan.
Adil Amin FCMA, Chairman IBC said that understanding the exact cost of creating and distributing a product or service is very important part of the business. Similarly minimizing expenditure and ensure optimum utilization of resources is imperative for a business to remain profitable and this is where the cost and management accountant plays an important role. ICMA is playing its role in the national development and our students are serving many government and private sector organizations as chief finance officers, chief executive officers and finance managers, he said.