Institute of Cost and Management Accountants of Bangladesh

The Institute of Cost and Management Accountants of Bangladesh
Type The national body of the professional Cost and Management Accountants of Bangladesh
Established 1972
President Mr. Abu Sayed Md. Shaykhul Islam FCMA
Students >13,000
Location Dhaka, BangladeshBangladesh
Campus Dhaka Head Office, Dhaka Camp Office, Chittagong, Khulna, Rajshahi, Comilla
Affiliations International Federation of Accountants and International Accounting Standards Board
Website Official Website of ICMAB

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) at Nilkhet, Dhaka, Bangladesh is the only institution in the country dedicated to Cost and Management Accounting education and research. It is managed as an autonomous professional body under the Ministry of Commerce.[1]

As well as education, it is also engaged in regulating and promoting the profession of cost and management accountant in Bangladesh. The Institute is managed by a National Council of 16 members. It is a member of the International Federation of Accountants (IFAC), Confederation of Asian and Pacific Accountants (CAPA), and South Asian Federation of Accountants (SAFA).[2]

ICMAB members are known as CMAs with their designatory title ACMA and FCMA. They play leading roles in the accountancy and finance profession in Bangladesh. 30% of members live and work in UK, USA, Canada, Australia and Gulf Countries. ICMAB UK Chapter is a lively forum for members working in the UK.[2]

Objectives

The major objectives of the Institute are to:

[3]

International association

ICMAB is a member of the following international accounting bodies:

Syllabus and training

ICMAB's syllabus and training is one of the toughest in Bangladesh which is updated regularly to adapt with the changing business environment. A student required to complete 20 courses and an internship to qualify as a Cost & Management Accountant. The current syllabus includes Principles of Accounting, Business Communication and Office Management, Quantitative Techniques (Business Mathematics & Statistics),Business Economics And International Business,Intermediate Financial Accounting,Cost Accounting,Management And Marketing Management,Information Technology,Advanced Financial Accounting-I,Management Accounting,Commercial & Industrial Laws, Taxation, Advanced Financial Accounting-II,Advanced Cost Accounting,Corporate Laws, Governance & Secretarial Practice,Corporate Governance & Secretarial Practice,Auditing,Financial Management, Strategic Management Accounting,Strategic Management and Organizational Behavior,Cost & Management Auditing and Internship.

National and international recognition

The ICMAB qualification is recognised by many professional bodies nationally and internationally. The bodies that have granted exemption to ICMAB members or qualified students are:

Publications

The Institute publishes a bi-monthly journal Cost and Management and a bi-monthly newsletter. Various regional chapters e.g. Dhaka and Chittagong also produce regular newsletters.

International chapters

Around 20% of ICMAB members are working outside Bangladesh. Currently there are ICMAB chapters in Canada, UK, USA, Australia and Saudi Arabia where members regularly exchange professional views and ideas.

References

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