CMA to host conference on sustainable value creation in South Asia

Wednesday, 5 June 2013 00:00 - - {{hitsCtrl.values.hits}}

Management accountants play a vital role in sustainable value creation through cost efficiency. Sustainable value creation through cost efficiency to achieve economic development is extremely important to Sri Lanka in its current accelerated development drive.

In such a context, as defined in the Brundtland Report: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.”

The theme of the conference is highly appropriate as its focus will be to ensure that benefits of development reach future generations while meeting the essential needs of the world’s poor and also safeguarding the environment with a close monitoring of cost efficiency. Eminent speakers from the electricity sector in India, Pakistan and Sri Lanka will speak on the pricing of electricity applicable to each country and achieving cost efficiency. They will also explain the applicability of mandatory cost accounting records in India and Pakistan which will give a basis for the preparation of the pricing for electricity and getting the figures audited by a cost auditor thus creating accuracy and transparency in the pricing determined. Therefore, the accurate cost of production can be determined.

The significance of cost and management in enterprises cannot be underestimated. The focus on basic cost information, appropriately computed cost centre wise, system based cost data support for decision making processes and finally ensuring that the cost information system thus evolved is used in operationalising the strategies for measuring productivity, pricing, profitability, wastage, efficiency etc.

The session will be chaired by Dr. Bandula Perera, Deputy Chairman of the Public Utilities Commission of Sri Lanka and the speakers will include from Hemant T. Gandhi, Deputy Chief (Finance), Central Electricity Regulatory Authority (CERC) from India, Abid Latif Lodhi, FCMA, Financial Management Team Lead (USAID PDP), ICMA Pakistan, Bandula Tilakasena, Additional General Manager of the Ceylon Electricity Board and Dr. Tilak Siyambalapitiya, an energy sector specialist.

The CMA International Management Accounting Conference will be attended by speakers and participants from India, Pakistan, Bangladesh, Nepal, Maldives and Bhutan and will be held on the 18 and 19 June 2013. For registrations, please contact Shanthi on 0714705536.Special concessions will be given to companies and the corporation sector.