CIMA has sponsored the creation of the world’s first management accounting standard, codifying a universal framework for best practice in decision making.

PAS 1919:2016 Guide to management accounting principles has been published this week by the British Standards Institute, with input from organisations including Sky, The Environment Agency, Fujitsu, the NHS and Siemens. It is designed as a best-practice guide to management accounting, allowing organisations to benchmark their finance function and to unlock the full contribution that management accountancy can make.