View source for Global Management Accounting Principles (GMAPs)

'''Global [[Management]] [[Accounting]] Principles (GMAPs)''' are a set of statements that describe the fundamental values, qualities, norms and features to which [[Management Accounting|management accounting]] professionals should aspire and that represent best practice.

There are three major Principles, underpinned by the professional values of management accountants, as shown in Figure below <br /> 
1. Preparing relevant information <br /> 
[[Objective]] – To ensure that organisations plan for their information needs when creating tactics for execution. <br /> 
This involves the identification, collection, validation, preparation and storage of information. It requires achieving an appropriate balance between: 
*past, present and future-related information 
*internal and external information 
*financial and non-financial information. 
2. Modelling [[value]] creation<br />  
Objective – To simulate different scenarios that demonstrate the cause-and-effect relationships between inputs and outcomes.<br />  
This requires a thorough understanding of the [[business]] [[model]] and wider macro-economic environment. It involves the analysis of information along the value creation path, the [[evaluation]] of opportunities within this context, and a focus on the risks, costs and value of opportunities. 
3. Communicating with impact<br />  
Objective – To drive better decisions about [[strategy]] execution at all levels.<br />  
This involves communicating the results of scenario analysis in a manner that is tailored to the decision being considered as well as to the decision-makers (or other audiences). It requires breaking down complexity and transparency about how conclusions have been reached.<ref>The three major principles of GMAPs [https://www.cimaglobal.com/Global/2015%20syllabus/GMAP_executive%20summary.pdf CIMA Global]</ref>


[[File:GMAPs.png|400px|Global Management Accounting Principles (GMAPs)]]<br />
source: CIMA Global