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To develop the Cost and Management Accountancy function as a powerful tool of management control in all spheres of economic activities.
To promote and develop the adoption of scientific methods in cost and management accountancy.
To develop the professional body of members and equip them fully to discharge their functions and fulfill the objectives of the Institute in the context of the developing economy.
To keep abreast of the latest developments in the cost and management accounting principles and practices, to incorporate such changes are essential for sustained vitality of the industry and other economic activities.
To exercise supervision for the entrants to the profession and to ensure strict adherence to the best ethical standards by the profession.
To organise seminars and conferences on subjects of professional interest in different parts of the country for cross-fertilisation of ideas for professional growth.
To carry out research and publication activities covering various economic spheres and the publishing of books and booklets for spreading information of professional interest to members in industrial, education and commercial units in India and abroad. ?