Special Supplement

CMAs’ role important globally for their problem-solving skills, financial expertise: Mozammel

“Accountants are always in the front line for solving business problems and have an understanding about the company’s historical financial performance, profit trends, market situation and industry relations”, said Mozammel Hoque, Executive Vice President and Head of Investment, SABINCO in an exclusive interview with daily Bangladesh Post. He said all over the world, local and global companies in the private and public sector are continuously giving more importance to the CMAs into the core of the business due to their problem solving skills, decision making ability and financial expertise. Mozammel Hoque replied to a set of queries made by Bangladesh Post, describing the importance, prospect, demand and latest professional excellence of the accountanting professionals. The excerpts of his interview is as follows:


Published : 09 Nov 2021 08:22 PM | Updated : 09 Nov 2021 08:28 PM

Bangladesh Post: Can you say something about the role of Accountant in any organization and what are the basic things to be followed as a Senior Executive, the role of Accountants in Investment Functions?

Mozammel Hoque: Accountants are always in the front line for solving business problems and have an understanding about the company’s historical financial performance, profit trends, market situation and industry relations. Accountants can understand the revenue potentials and work accordingly to enhance the overall profitability of the company’s business and create positive impact among the stakeholders.

As a Senior Executive, I think the professional Accountants can play a vital role in investment functions, i.e., selecting appropriate projects, choosing the right entrepreneurs, justifying the viability of the projects, arranging funds and implementing those in a rewarding manner. 

Bangladesh Post: What are the main source of motivation/inspiration in your way to have C-level of a renowned organization in the Country?

Mozammel Hoque: I started my career in a leading Industrial Consulting firm. Then I switched over to a nationalized commercial bank. Finally, I am in a joint venture investment company which is pioneer in promotion of industries in Poultry and Fish Feed manufacturing, Fisheries, Power, Steel, Telecommunication, Pharmaceuticals, Pulp and Paper, Textiles, Cement & Ceramic and Chemicals projects etc. and my endeavor in centering round the pre and post investment activities.

I found great satisfaction to see the growing business of my clients. This is a magnificent experience to see a project growing from the scratch. We evaluate the feasibility of a green field project completely based on our knowledge and forecasting skills. After few years when the conceptual ideas come into reality and forecasting revenues are practically earned and our investment is paid back, my confidence and motivation reached to the sky high. 

I am doing financial analysis and forecasts feasibility of business in daily affairs. This is simply interesting and diverse. This enables me to use problem solving techniques to achieve the desired outcome. The company gives value to my professional knowledge and acknowledges my relentless contribution for the development and success of the Company. These are the sources of my motivation and inspiration to work under this esteemed Organization.   

Bangladesh Post: How CMA as a certified Accountant can help you through the career up to now?

Mozammel Hoque: I believe as a CMA, I got basic knowledge of Accounts, Finance and Investment from ICMAB and feel proud to be a Member of this prestigious Institution. Apart from my basic knowledge, my gradually acquired knowledge in industrial financing has got some scope to contribute something in selecting appropriate projects, choosing the right entrepreneurs, justifying the viability of the projects, arranging funds and implementing those in a rewarding manner. 

Due to my profession, I get the opportunity to participate in critical decision-making process, which projected the path for long term goals and objectives of the organization, i.e., growth, expansion or restructuring.

Bangladesh Post: In SABINCO how are you contributing for the Organization as a Cost and Management Accountant?

Mozammel Hoque: Cost and Management Accountants are always in the front line for solving business problems. I have to perform financial analysis and forecast feasibility of business in daily affairs, which is the core of the organizational operation. This enables me to use problem solving techniques to achieve the desired outcome.

Being a professional Accountant I have perfect understanding about the company’s historical financial performance, profit trends, market situations and industry relations.  I always find new revenue potentials that impact the overall profitability of the company’s business and create positive image among stakeholders. 

Bangladesh Post: Do you think CMA as a profession can play vital role in arranging finance and also play a vital role to become a Business Leader for local and global Companies? What are the challenges/ important areas you can suggest?

Mozammel Hoque: All over the world, Local and Global companies in the private and public sector are continuously giving more importance to the CMAs into the core of the business due to their problem solving skills, decision making ability and financial expertise. CMAs are the professionals who not only process financial information but provides meaningful insights about the future projections of the business. And For their ability to understand the business and its feasibility in the future, CMAs are now the front liners in arranging finance and obtained wide acceptability in the financial and capital market.   

However, corporate world is a complex marketplace. To attend the problems linked with global and local macro and micro scenarios CMAs should accustomed with local and global regulations. People need to update their skills at every second and for this continuous learning is the key. They have to adapt themselves with the new technological innovations / tools and use them effectively for the sake of survival and continuity of business.   

Bangladesh Post: What type of leadership style you follow?

Mozammel Hoque: In today’s world no one can move alone. Integrity and harmony among the team is the key to success. I always practice participatory leadership in my daily works. I lead the subordinates mainly through persuasion and example rather than fear and force. I prefer to be a moderator of the ideas and suggestions from my team.  This will foster enthusiasm among the team and create higher motivation and improved morale. 

Bangladesh Post: How the technology will impact our profession and what your advice for our young professional? 

Mozammel Hoque: Technological advancement is very essential and now a days without adaptation of technology, an organization can’t even think to run efficiently. The CMAs apart from knowledge in Accounts, Finance, Management Accounting, Costing etc., should have sound knowledge in technology to cope with the ongoing development of globalization.

Due to progress in information technology and its impact in the accounting, we need to acquire new tools related to information systems and technology.  The young professionals must have solid know-how relating to information technology and must be capable to combine and implement these with all the professional know-how. 

The application of artificial intelligence in the workplace has impacted the way in which management accountants perform their role. However, these technologies should be treated as tools to help professionals perform their roles more efficiently. 

Bangladesh Post: What factors have influenced in your success in today’s important role?

Mozammel Hoque: From the beginning of my career, I was committed to uphold the professional skills and integrity as a CMA professional at my work. I never compromised in the context of ethics and discipline. To achieve the goal of my career I was always focused in details of any matter, serious about Time and Quality Management and gave importance and respect to my colleagues and clients. I never failed the deadline in submitting assignments to my Top management and always focused to integrate my work to serve the long term mission of the organization.  

Bangladesh Post: Message to the younger generations who have the desire to be an Accountant?

Mozammel Hoque: Message to the younger generation that younger generation should pursue continuously in knowledge gathering. They will provide quality time in updated knowledge gathering and develop themselves in such a way, so that they can compete with the younger generation of the developed countries of the world.    

Bangladesh Post: Will you give any message on the occasion of International Accounting Day-2021?

Mozammel Hoque: Accounting is a noble profession. In the global marketplace, companies are always dependent on accountants to employ their financial expertise in driving the organization forward. Accountants are not just employees, they are business partner and have critical responsibilities in the success of the organization. With the ever-changing business landscape, Accountants should move forward to implement their invaluable knowledge with highest ethical standard to develop the corporate world around the globe.