The Management Accounting profession currently lags in the ability to provide managers with timely, relevant and comprehensive internal decision support information. The Institute of Management Accountants has published a Conceptual Framework for Managerial Costing (CFMC) that identifies the principles and concepts for creating cost information for internal decision support. However, few cost methodologies implement the framework effectively. Numerous approaches and techniques serving different objectives, and subject to individual interpretations, lead to inconsistent and unreliable decision support information. Moreover, these approaches are based on principles other than causality and result in conflicting responses to managers’ questions.
The RCA Institute seeks to change that by raising the standard of management accounting knowledge and encouraging sound operational and cost modeling and decision making techniques and practices.
Vision: Advance management accountants’ ability to contribute to improved business performance through a consistent and disciplined understanding and application of RCA principles and techniques.
Mission: Inform, educate, certify, and sustain professionals/individuals and organizations in the consistent and disciplined use of RCA.