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Professor Anthony Wu‭, ‬GBS‭, ‬JP

Honorary Chairman (Greater China), CMA Australia

Standing Committee Member of the Chinese People’s Political Consultative Conference

Chairman of the Board of Clarity Medical Group Limited

Independent non-executive Director and the Chairman of China Resource Medical

 

Former Chairman of Hong Kong Hospital Authority

 

Former Chairman of the Hong Kong General Chamber of Commerce

Former Chairman of Ernst & Young Far East, Hong Kong and China

Professional Management Accounting ‭ ‬‮–‬‭ ‬An Indispensable Management Skill

It is so true that accounting knowledge has become a necessary skill set for all industries. As a metropolis connecting China and the world’s enterprises, Hong Kong’s managers should equip themselves with management accounting skill in order to effectively plan for development of their companies.

Outstanding Managers are CMA Members

 

Nowadays, almost every company has Accounting Department or Finance Department to handle relevant work, why are there still so many corporate managers wishing to join CMA Australia?

 

It is because management accounting is not just a professional knowledge, corporate managers acquiring this knowledge will help them read and analyze financial data. No matter how good your management skills are, management nowadays need to understand, handle and use financial reports and corporate annual reports. Corporate managers need to oversee figures and companies’ financial situation in order to design effective business improvement schemes. Accounting management skill shall help them deal with complicated corporate financial budgets and financial reports. CMA program is particularly useful for managers who have not got enough accounting knowledge, as there are “many CMA members who are outstanding corporate management with no accounting background”.

 

The ICMA (Reg: 312191) has 18 programs, applicants with relevant academic qualifications and work experience can be exempted up to 16 programs, and shall proceed to taking the final 2 mandatory programs of “Strategic Cost Management” and “Strategic Business Analysis”.

 

Prospective Decision-making through Financial Analysis

 

Financial Accounting is getting more and more important to corporate management, a manager may not need to do hands-on accounting, yet he needs to read financial reports and analyze financial data to help project on policies. In today’s speedy changing market environment and globalized economy, this forward-looking and macro management ability is crucial for a successful administrator.

 

Exchange of Professional Knowledge, Expansion of Personal Network

 

I am proud to lead a team of over 4,000 professional management accountants at ICMA. ICMA is becoming well known in Hong Kong, one of the reasons is due to the various professional backgrounds of its members. ICMA provides an exchange platform for them to connect beyond their professional network, members now have chance to meet corporate administrators from difference backgrounds and industries, hence widen their social and personal network.

 

Up to present, CMA Australia Hong Kong Office has established up to 50 committees encompassing 50 different industries; I do hope this opening of professional committees can become a culture for ICMA in uniting our members, and constructing a better future for Hong Kong.

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