Professor Jayaram Ramakrishnan, Professor of Practice at IFMR GSB, Krea University, has co-authored a book titled Enterprise Performance & Risk Management for MSMEs – A Primer for the Institute of Cost Accountants of India (ICMAI), with CMA Venkataramani, a serial entrepreneur and member of the MSME Board of ICMAI. The book was released at the 61st National Cost & Management Accountants convention of ICMAI held at Kevadia, Gujarat, in the last week of June, 2024.
The book deals with development of a Management Accounting framework for MSMEs. This was motivated by the existing low uptake and inconsistent use of Management Accounting Practices by MSMEs as observed and suggested by prior research in an Indian context. MSMEs were often found failing to leverage adequately the potential of management accounting for helping them achieve their financial objectives (primarily profitability and liquidity) while also adequately insuring against risks. According to the authors, the book is a humble attempt to provide MSMEs with a cost management and risk mitigation toolkit which would be easy to roll out and sustain in the long run.
Read the Foreword here
