Management Accounting Research Foundation of ICWAI (ICWAI-MARF) has been appointed as an advisor to the Department of Post, Ministry of Communications and IT (DOP) and a MOU has been signed to that effect here today. This appointment as per the MOU will be in vogue for a period of 24 months during which ICWAI-MARF will constitute a team which will extend resource support of a major modernisation plan of DOP of its cost and management accounting practices.
As an advisor to DOP, ICWAI-MARF will be strategic partner to them in setting the performance levels of the process of developing the costing systems and help them in getting the best results. The DOP has embarked on a major transformation of its operations using state of art technologies and this includes a thorough overhaul of the financial applications. Modernising the cost and management accounting practices by applying concepts such as Activity Based costing (ABC) is a part of this overhaul.