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 Lecture for the students SGH-CIMA Programs – Accountants in the XXI century – Noel Tagoe PhD – CIMA-Global Executive Director of Education

(Aula Główna, 6 p.m.) 

Accountants in the XXI century
Professor Anna Karmańska Ph.D., Director of Accounting Department and Coordinator of SGH-CIMA Programme invited Noel Tagoe, Executive Director of CIMA Global Education to give a lecture entitled “Accountants in the XXI century”. The lecture took place on Monday, April 8th, 2013 at 18:00 PM in the main auditorium of the Warsaw School of Economics. At the beginning Professor Marek Gruszczyński, Vice Rector for Research and International Relations Warsaw School of Economics, warmly welcomed the guest and gave him a book as a gift. The speech started with a presentation. Noel Tagoe quoted and used many examples and comparisons in order to describe his point of view of which way the modern management accounting should follow. By using the example of Sydney-London flight Noel Tagoe tried to compare accountant to airline pilot. Both are flooded with information but they need to select them in order to choose the most relevant and useful one to make decisions. Such a long flight is like implementing the business strategy. It is required to be precisely planned, coordinated and the very specific and detailed information is needed at the very particular moment of time. This is the major task to be fulfilled by modern management accounting which also should be described and based on two pillars: communication and accountability. Moreover Noel Tagoe indicated that the relevance of today’s financial statements is criticised. Corporate reporting is believed to not fulfil the investors’ expectations. The shareholders demand fair and balanced forward-looking reports about strategy, business models, the value-creation process and related risks. These factors seem to be the major challenge for modern management accounting and reporting. Noel Tagoe emphasized that students equally should work at their own value. After the lecture Q&A session followed. The questions concerning the influence of integrated reporting on the accounting as a whole and about key performance indicators (KPIs) were raised. Noel Tagoe admitted that integrated reports recently presented by companies try to carry out the goal which is set to accounting: to report financial and especially non-financial information concerning environment, social and governance issues of the business. On the other hand, he stressed the fact that lack of framework for integrated reports may pose a threat to accountability of the information and data placed in these documents. Non-financial part of reports are hard or impossible to be objectively evaluated. Corporate tells the story about its business in this report but it is not done annually due to lack of legal duty and the information may be presented selectively and only when it is beneficial for the company. This is a severe challenge and problem for the auditors. Noel Tagoe said that false and propaganda integrated reports may lead to integrated punishment for companies. Two examples were used: Japanese kimono and movie star. Both try to show their bests and hide the worst parts inside. The same is done in integrated reports by the companies. The lecture was very interesting and Noel Tagoe was pleased that students and professors of Warsaw School of Economics are up to date with the very recent challenges and tendencies in management accounting and reporting. Students of pioneering SGH-CIMA Programme are supposed to make a future contribution to management accounting development. The Programme is coordinated by Professor Anna Karmańska Ph.D and enables students to achieve CIMA Certificates on three levels: SGH&CIMA Certificate in Business Accounting (SGH&CIMA – CBA) and at the graduate level with CBA's more advanced versions, that is SGH&CIMA Diploma in Management Accounting (SGH&CIMA – DMA) and SGH&CIMA Advanced Diploma in Management Accounting (SGH&CIMA – ADMA).
Bartosz Sieroń
Student Programu SGH-CIMA-DMA
(Diploma in Management Accounting)

Organizator wizyty: prof. dr hab. Anna Karmańska (SGH), Fiona Harvey (CIMA Global), Jakub Bejnarowicz (CIMA Poland).

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