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The Institute of
Cost & Management Accountants of Pakistan was established in 1951 and
was granted statutory status under the Cost and
Management Accountants Act, 1966 for the regulation
of the profession of Cost and Management Accounting. ICMAP is the sole provider of
cost and management accounting education, training
and professional certification in Pakistan.
The institute has earned reputation both nationally
and internationally for its high standard in
imparting education and testing. The Institute
has been meeting an important national human
resource need through a steady flow of professional
management accountants to occupy leading
positions in the corporate world.
ICMAP has over 4000 members, who hold
senior positions in trade, commerce, industry and
government in Pakistan and abroad. The number
of active registered students is around 15000, which
makes ICMAP one of the largest professional
institutions in Pakistan.
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INTERNATIONAL
ASSOCIATION
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The Institute is member of the following international
accounting bodies:
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International Federation of
Accountants (IFAC) |
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International Accounting
Standards Board (IASB) |
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Confederation of Asian and
Pacific Accountants (CAPA) |
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South Asian Federation of
Accountants (SAFA) |
Through energetic participation in the activities of these bodies, the
Institute plays a vibrant role in the development of management accounting
profession both at domestic and international level.
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ROLE
OF MANAGEMENT ACCOUNTANT
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The Management Accountants produced by the
Institute, have met the requirements of the industry
over the years and performed creditably in the
assigned roles. Today, more than 60% ICMAP
Members occupy top to middle management positions in
industry, financial institutions, consultancy firms
etc., as Chief Executive Officers, Managing
Directors, Chairpersons, General Managers,
Controllers, Directors of Finance, Company
Secretaries, etc.
Organisations over the
years have turned increasingly complex and the
Management Accountants have enhanced their knowledge
and sharpened their skills to meet the challenge of
change, becoming more important players in the
management decision-making. Their training,
during this period, has been modified gradually to
cover the best financial and business practices with
information management skills.
In a business, the role
of professional Management Accountants is like brain
in the human body. It collects data, analyses
it, plans for the future, puts in place an effective
control mechanism and operates an emergency alarm
system. This being so, the economy is greatly
indebted to the contribution of professional
Management Accountants.
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HOW
MANAGEMENT ACCOUNTANTS ADD VALUE TO BUSINESS?
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Management Accountants are trained to turn knowledge
into profit and they are successfully competing in
the employment market for senior positions even in
the general management areas. Now Management
Accountant is more a business manager, who
understands the dynamics of business as an organic
whole, rather than being a typical "finance
man" with tunnel vision.
Some of the areas where qualified Management
Accountants can contribute towards better corporate
governance are highlighted as under:
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PUBLICATION
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The ICMAP takes out a monthly journal "Management
Accountant" which is one of the leading professional journals in Pakistan
having circulation around 14,000. It has become the only professional
journal of the country having widest circulation. The Institute has published
research based articles on each sector of the economy.
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OTHER
PUBLICATIONS
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Vegetable
Ghee and Cooking Oil Companies
(Cost Accounting Records) Order, 1990
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Cement
Industry (Cost Accounting Records) Order, 1994
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Sugar
Industry (Cost Accounting Records) Order, 2001
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Cost and
Management Accounting Techniques
Employed in the Cotton Textile (Ring)
Spinning Industry of Pakistan |
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Input Costs
& Corporate Tax Structure
An Analysis of Trends in SAARC Region. |
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Report on the
Role of Small & Medium Enterprises
in GDP and Macro Economic Development of
Pakistan |
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Sugar Industry
in Pakistan -
Problems, Potentials |
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Cost Audit
Handbook |
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