A cost accountant is a financial professional who focuses on tracking, analyzing, and controlling a company’s costs, particularly those related to production, operations, and services. They provide crucial cost data that helps management with budgeting, pricing strategies, and financial planning to improve overall cost efficiency and profitability.
Staff Reporter / New Delhi
— President of India, Smt. Droupadi Murmu, today graced the National Students’ Convocation of the Institute of Cost Accountants of India (ICMAI) in New Delhi, where she underscored the vital role cost and management accountants play in India’s economic journey and sustainable future.
Addressing the gathering, President Murmu noted that accountants have traditionally held high regard in society due to their strong association with accountability and integrity. “We value accountability; therefore, we attach great significance to accounting,” she remarked.
She lauded ICMAI, established in 1944, for not only witnessing but actively contributing to India’s post-Independence economic transformation. While the Institute may have operated away from the public spotlight, she said its contribution to shaping industrial growth and supporting corporate governance is deeply appreciated by experts.
Highlighting the evolving role of CMAs (Cost and Management Accountants), President Murmu pointed out that their expertise now extends from factory floors to boardrooms, offering crucial insights in the formulation of cost-efficient strategies and systems for both government and private sectors.
Turning to current global challenges, the President said, “The world is facing a climate crisis. Sustainability is no longer a mere slogan — it is a necessity.” In this context, she emphasized that CMAs are uniquely positioned to integrate environmental considerations into financial decision-making and can be change-makers in the fight against climate change.
She advised students to embrace their broader responsibilities beyond traditional financial roles and urged them to contribute proactively to the vision of a Viksit Bharat by 2047. With the strong educational foundation provided by ICMAI, she expressed confidence that today’s cost accountants would emerge not only as skilled professionals but also as responsible nation-builders.
