Help Shape the Guide to Management Accounting Principles

Stathis Gould | September 25, 2015 |

The British Standards Institute (BSI) is looking for feedback from individuals and institutions on the draft of Publically Available Speciation (PAS) 1919—Guide to Management Accounting Principles.

A PAS (Publicly Available Specification) is a sponsored, fast-track, consensus-building informal standard produced by the UK national standards body, BSI. The development of PAS 1919 was sponsored by the Chartered Institute of Management Accountants (CIMA) and developed from CIMA’s Global Management Accounting Principles. Having developed these principles through research from 20 countries and a wide range of organizations, CIMA is working through the BSI to promote the further development and adoption of the principles internationally via a globally recognized pronouncement.

The purpose of the management accounting principles is to help organizations ensure they have management accounting systems in place that will drive better business through improved performance. The PAS gives guidance to organizations on assessing the performance of the management accounting function. It covers the four management accounting principles:

  • communication provides insight that is influential: encouraging insightful communication that drives better decisions across an organization;
  • information is relevant: reviewing past, present, and forward-looking performance management information;
  • impact on value is analyzed: understanding an organization’s strategy and business model; and
  • stewardship builds trust: balancing short-term commercial interests against long-term value for stakeholders.

The consultation period closes on Friday, October 23, 2015. The PAS is available for download, review, and comment online (free registration is required). Only comments submitted electronically through the online Draft Review System before the deadline will be accepted.


Stathis Gould

Director, Advocacy, IFAC

Stathis Gould heads up the development of international services for professional accountants working in business and industry at IFAC. A key element of his work is developing thought leadership and guidance in support of finance professionals and their roles facilitating sustainable organizational performance. Before moving to IFAC, he was at the Chartered Institute of Management Accountants (CIMA) responsible for planning and overseeing a program of policy and research. Prior to serving the accountancy profession, Mr. Gould worked in various roles in the private and public sectors in the UK. See more by Stathis Gould


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