Global Management Accounting Principles: The art of thinking and doing

This episode of the FM podcast focuses on the newly updated Global Management Accounting Principles (GMAPs). The principles, first released nearly 10 years ago, provide a framework for management accountants. The most recent version updates that framework to reflect new business realities. David Hackett, an AICPA & CIMA technical manager, looks back at the previous version of the GMAPs and explains some of the key updates. The GMAPs, scheduled to be featured in detail at a session Wednesday at AICPA & CIMA ENGAGE 2023, are designed to lead management accountants and their organisations to better decision-making. What you’ll learn from this episode: ·         An explanation of the GMAPs. ·         A timeline of the most recent update to the GMAPs and some of the changes that spurred the update. ·         Some of the external factors leading to a need for more agility, according to Hackett. ·         How a management accountant can use the GMAPs to solve problems. ·         The GMAPs’ application to wider business and not just finance.