Report On Icab & Icmab (Raj)

REPORT on
The development of
Professional Accounting in
Bangladesh and Role of
ICAB & ICMAB
ACC-304 (Managerial Accounting)
Section- B
[Confidential]
A Report on
The development of Professional
Accounting in Bangladesh and Role
of ICAB & ICMAB
Date: 16th March, 2016
[All rights reserved. So, photocopying, rearranging, reproducing

or, transmitting in any form or by any means strongly prohibited.
No one is allowed to use this report paper without prior
permission from Group-2 (Soldiers of Victory), Course: ACC-304
(Managerial Accounting) Section # B, IUBAT]
For farther information please Contact:

MD Yahia Raja
Cell no: 01673277238
Email: rajaslinknet@gmail.com
Re-presenter of Group-2 (Soldiers of Victory)
Course: ACC-304 (Managerial Accounting)
Section # B, IUBAT
Table Of Content
Content
Parts
Content Title/Area
Page
Numb
er
Report Formal Part

Part: 1
Letter of Transmittal
01
Supervisor Declaration
Student Declaration
Acknowledgement
Executive Summary
Report Introductory Pars
Introduction to the report
Brief discussion about ICAB, ICMAB and
CA Firm
Objective of the report
Scope of the Report
Part: 3 Organizational Parts
Background of ICAB
ICAB Mission
ICAB Vision
Role of ICAB
Linkage to International bodies
Corporate information of ICAB
Background of AYUB & MAHMOOD
AYUB & MAHMOOD Mission and Vision
Corporate Information of AYUB &
MAHMOOD
Background of ICMAB
Mission of ICMAB
Vision of ICMAB
Service of ICMAB
Management of ICMAB
Objective of ICMAB
Corporate Information of ICMAB
Part: 4 Literature Review
Auditing
Taxation
02
03
04
05
07
08
10
11
12
12
13
14
15
18
19
19
20
21
24
25
25
26
26
27
28
28
Managerial Accounting
Chartered Accountancy
Part: 5 Topic Part
Why This Topic
Benefits of being CA
Part: 6 Actual task part
Group Activities
Task Deviation
Learnings
Part: 7 Research Part
Project Time-line
Gant Chart
Budgeted Information
Research Instrument
Data Sources
Data Analysis
Benefits of Being CA & FCMA
Career Prospect
About Joining CA
29
29
30
30
32
32
33
34
34
35
35
36
36
37
38
40
Letter Of transmittal
To
Prof. Dr. M Alimullah Miyan
Vice Chancellor & Chair
Collage of Business Administration
IUBAT- International University of Business Agriculture and technology
Subject: Letter of Transmittal.

Dear Sir,
It is our immense pleasure and honor to let you know that we have
completed our report and want to submit the project report on The
development of Professional Accounting and Role of ICAB & ICMAB which
is a requirement of course Managerial Accounting (ACC-304) and also for
the Program BBA.
We made endeavor to prepare this report and tried our level best to
accumulate relevant and insightful information. It is a great experience for
us to work with this topic. We have tried to make the report vivid and
comprehensive within the scheduled time and limited resources. It is
nothing but a very little overview of us on The role of ICAB & ICMAB in
the Development of Professional Accounting in Bangladesh. Throughout
the process we had an interesting experience of dealing with thing we
merely learn without any first-hand experience.
We shall be highly obliged if you clarify any matter or any further inquiry
regarding this report
Thinking you,
Sincerely
Page 1 of 75
The Group-02 Soldiers of Victory
Supervisor Declaration
This is to certify that group members of group number 02 students of BBA
program of our university successfully completed the project report on
The development of Professional Accounting and Role of ICAB & ICMAB
was under my supervision and guidance . During the period they visit
ICAB Bhabon, AYUB AND MAHMOOD and ICMAB Bhabon.
This report is submitted for fulfillment of managerial accounting. No part
of this report has been submitted for any other degree, diploma or
fellowship and the work has not published in any paper or magazine.
During the period they were sincere proactive and attentive their work. I
wish him every success in his life.
---------------------Arif Ahsan
Faculty,
College of Business Administration
IUBAT
Page 2 of 75
Student Declaration
We are the student of Bachelor of Business Administration (BBA), under
the College of Business Administration (CBA) at IUBATInternational
University of Business Agriculture and Technology declaring that this
report on the topic of The development of Professional Accounting and
Role of ICAB & ICMAB have only been prepared for the fulfillment of the
course of ACC-304 managerial Accounting as the partial requirement of
the Bachelor of Business Administration (BBA).
We hereby declare that the project work entitled The development of
Professional Accounting and Role of ICAB & ICMAB submitted to the
Course instructor Prof. Dr. m Alimulla Miyan, is a record of an original work
done by a Group of 5 Member named Soldiers of Victory under the
guidance of Mr. Arif Ahsan, Course Instructor of Managerial Accounting
(ACC-304) and faculty of College of Business Administration. This project
work is submitted in the partial fulfillment of the requirements for the
Course Managerial Accounting (ACC-304). The results embodied in this
report have not been submitted to any other Group, University or Institute
for the award of any degree or diploma.
S/
Name
ID Number
01
Md. Yahia Raja
13202080
02
Marium Akter Nahida
13202019
03
Israt Jahan Chayan
13202104
04
Shakhawat Hossain
05
Mamunur Rashid
Page 3 of 75
Acknowledgement
At first we would like to express our gratefulness to the almighty of Allah

for being strength to us preparing the report successively.
We would like to express our gratitude to Prof. Dr. M Alimullah Miyan,
Founder & Vice Chancellor of IUBAT for his encouragement about Project
work of every CBA student.
Our special thanks to our supervisor for providing us the Report topic,
valuable suggestions and guidelines to make this report from the very
beginning to the end with a friendly behavior. We are even thankful to all
the respected members, employees, staffs those organizations andAYUB
& MAHMOOD the CA firm also the students group who supported us in
preparing the report.
At last but not the least with utmost sincerely; we would like to thank the
entire wonderful good number of learned/experience persons who have
made significant contribution in preparing this report. Their advices and
suggestions helped us a lot. Also our each of the peers with those peoples
we are worked. It is them who made it easy for us to understand the real
straggle of life. Without their help and continuous guidance this report
might have not been possible. Our each members of this group have been
a source of strength and confidence for each.
Page 4 of 75
Executive Summary
Success is the catchword these days, the more victorious; more popularity
one gains among its audience. People these days are more excited about
earning fame and glory as soon as possible. Also, with the globalization of
the world, the need of the skilled people is increasing. The route to
success is getting shorter with the opening up of varied prospects and
fields, one can adopt as his career. The students are therefore, grabbing
these opportunities and are very keen to structure their career according
to the need of the hour.
To make students specialize on their respective subjects or to have an
early work start, many institutes and colleges are coming up with
professional courses in various fields. The idea and the approach for a
stable career among students have changed to a great extent. Earlier,
students used to consume five to seven years of their life doing
graduation, post-graduation and then doctorate or some other degrees.
This used to be a very hectic procedure with the students only mugging
up for half of their lives, without actual implementation of the same.
Though this is great and still followed by people who are keen to do indepth studies in their subjects, but students who want to start their
professional career with in three or four years, or even less than that,
after completing senior secondary education, go for professional courses.
In the twenty first century the professional specialized skills are attracting
the in all the way in this competitive business world. Professional courses
are the education or curriculum designed, keeping in mind the need of a
particular industry, courses like this are very focused and future oriented.
Professional courses have gained importance in the recent years, with the
graph going high for job opportunities in the respective sectors. A
professional course helps students to get trained and aware of the latest
trends in the market and the respective work environments. These
courses can be in the form of degree or diploma certificates depending
upon their curriculum and the time period.
Two of the important professional course, which is gaining popularity
among students and has become one of the most prestigious professional
Page 5 of 75
courses, is Charted Accountancy (CA) & the Cost and Management

Accounting (CMA) or careers related to the same.
Page 6 of 75
Chartered Accountancy (CA) and Cost and management Accounting (CMA)

has emerged as a unique Profession of paramount importance and is now
discussed at various economic seminars, capital markets, investments
and such other forums. To cope with the increasing demand in the field of
economy, innovative financial instruments are being constantly
introduced and the profession world-wide, apart from accounting,
taxation, and financial management and other financial consultancy is in
the forefront in launching these financial products.
In today's free globalized world, Chartered Accountants and Cost and
management Accounting (CMA) are in public practice, in all sizes of
accounting firm from sole practitioners to affiliates of large international
firms. They are also employed in industries, finance and commerce
playing a wide variety of financial, management and senior policy making
roles both at home and abroad. The members of the Institute of Chartered
Accountants of Bangladesh are known as the Chartered Accountants of
Bangladesh.
The Institute of Charted Accountants of Bangladesh (ICAB), The Institute
of Cost and Management Accounts of Bangladesh (ICMAB) are the
governing bodies for these courses which offer various govt. qualified
courses in the respective fields and completing after which a person
become a certified member of these governing bodies.
An entrance test is conducted for all these courses, for which the
eligibility criterion is a pass out of senior secondary education from a valid
board system. Whereas, in case of CA, registration for the exam can be
done after passing the 12th examination (HSC). These courses are very
tough to crack and a student has to go through various examination
stages, trainings, after which he clarifies for the final exam.
Therefore, one can see a secure and safe career, in the subject of his/her
choice.
Page 7 of 75
Part: 2 Introductory Parts

2.1 Introduction of the Report
As we all know, in this 21st century the professional courses like CA or
CMA are attaining to make student more specialized and market
attraction in Bangladesh. People these days are more excited about
earning fame and glory as soon as possible. Also, with the globalization of
the world, the need of the skilled people is increasing. Professional
courses have gained importance in the recent years, with the graph going
high for job opportunities in the respective sectors. A professional course
helps students to get trained and aware of the latest trends in the market
and the respective work environments.
The Institute of Charted Accountants of Bangladesh (ICAB), The Institute
of Cost and Management Accounts of Bangladesh (ICMAB) are the
governing bodies for these courses which offer various govt. qualified
courses in the respective fields and completing after which a person
become a certified member of these governing bodies.
In this report we are five member of a group have gone through a
wide study and research to know about the CA (chartered Accountant)
and CMA (Cost and Management Accountants) course. We have fiscally
attended to the Governing Institute of CA which is known as CA Bhabon
also the ICMAB Bhabon. We had collected information about CMA,
admission process, admission requirement, Curriculum and job market of
a CMA.
This report provides information obtained through ratio analysis,
regarding the admission process, admission requirement, and Curriculum
and job market of a CMA. This report will pay particular attention to the
earning power, student management, training policy and debt
management, and will highlight major career of CA and CMA while
offering some explanation for observed changes. The report will comment
on the prospects of the company and make recommendations that would
help the candidates who are interested to attain those courses and also
will give a guide-line to. These observations do have limitations which will
be noted. This report will explain what are the requirement, admission
process, evaluation criteria and the career opportunities.
Page 8 of 75
Page 9 of 75
2.2 Brief Discussion about ICAB, ICMAB and CA firm

AYUB & MAHMOOD
ICAB Institute of Chartered Accountants of Bangladesh:
The Institute of Chartered Accountants of Bangladesh (ICAB) is the
National Professional Accounting Body of Bangladesh established under
the Bangladesh Chartered Accountants Order 1973 (Presidential Order No.
2 of 1973).
The Ministry of Commerce, Government of the People's Republic of
Bangladesh is the administrative Ministry of ICAB.
Institute of Chartered Accountants of Bangladesh (ICAB) is a professional
organization in Bangladesh supporting over 1,200 chartered accountants
& 20,000 students. The Institute provides insight and leadership to the
accountancy and finance profession in Bangladesh as well as globally.
Their well-qualified members are trained to provide financial knowledge
and guidance based on the highest professional, technical and ethical
standards. We develop and support individuals, organizations and
communities to help them achieve long-term, sustainable economic
value.
The Institute of Chartered Accountants of Bangladesh (ICAB) provides its
members with knowledge and guidance based on the highest
professional, ethical and technical standards. They ensure a high level of
professional competence among the membership and those aspiring to be
members. They influence national policy formulation in areas related to
the accountancy profession and contribute, in a significant manner, to the
national development efforts.
ICMAB- Institute
Bangladesh:
of
Cost
and
Management
Accountants
of
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.
Page 10 of 75
Institute of Cost and Management Accountants of Bangladesh (ICMAB) is

the national body of the professional Cost and Management Accountants
of Bangladesh. Established with the prime objective of promoting and
regulating the Cost and Management Accounting profession in the
country, the Institute offers education and training to the students
interested to pursue career in this field and provides highly recognized
CMA degree on fulfillment of requisite qualification. The Institute
undertakes research in relevant fields and is the sole authority to issue
practicing license to its members.
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).
ICMAB members are known as CMAs with their designator 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.
AYUB & MAHMOOD CA firm:

AYUB AND MAHMOOD was formed in February 2005, with a mission to
continually add value by helping clients succeed. The firm is in public
practice for more than 11 years. The partnership firm was founded with a
vision to build an institution which would foster an environment for
leadership, continuous growth, learning, and collaborations. Over the past
eleven years, the firm has become reputable chartered accountancy firms
in Bangladesh. At present, AYUB AND MAHMOOD has ten partners whose
expertise in audit, accounting, review, business consulting, business
process outsourcing, technology solutions and taxation has established
the firm as a multidisciplinary organization. All the partners have many
years of experience of working both at home and abroad and with
international consultants and organizations operating locally and globally.
Page 11 of 75
2.3 Objectives of the Report:

The initial concern of this paper work is to acquire knowledge about the
Accounting Development, CA & CMA courses and the Role of ICAB &
ICMAB in Bangladesh.
I.
Broad objective: The main objective of this report is to get the real
concept of admission process, admission requirement, Curriculum
and job market of a CA and CMA courses. And preparing this report
is for fulfillment of the course Managerial Accounting ACC-304.
II.
Specific objective:
CA course:
Visiting the CA Bhabon and a CA firm

Collect the information about CA course
Information about requirement and admission process
Duration and evaluation process of CA courses
Career of CA
CMA course:
Visiting the ICMAB Bhabon.

Collect the information about CMA course
Information about requirement and admission process
Duration and evaluation process of CA course
Career of CA
Page 12 of 75
2.4 Scope of the Report

To make a successful research report, we have gone through a wide range
of study and research to gathered information from different area. As the
part of the research we have visited ICAB Bhabon, AYUB AND MAHMOOD
CA Firm and ICMAB Bhabon. By physically attaining there we have asked
some of the personnel and experienced people on that particular field. We
sit on the Information desk and take a short interview of the employees of
those institutes. From their different types of sources we get different type
information. We also got some information of their annual report and
official websites, magazine and also by reading some of the new latter.
The scope of this arrangement includes an analysis of the three major
institute whore providing professional courses in Bangladesh and one
particularly identifying CA firm within the same industry and that could be
potential and useful for the increase in our career knowledge. This
arrangement also includes an assessment of the current services and a
counseling body of those institutes, including firms. The scope includes
identification admission process, admission requirement, training criteria
and methods also the evaluation of those courses in an effort to
determine what an applicant should do. Additionally, the project team will
investigate the market place of those degree holders and the career
opportunities for them.
The scope does not include specific field where the CA or CMA holder will
be. It does not include the creating of physical marketing materials, but
rather an idea of how things are happening in Development of
Professional Accounting courses. Finally, the scope does not include any
technical development responsibilities.
Page 13 of 75
Part: 3 Organizational Parts
3.1 Background of ICAB

2 of 1973).
Institute of Chartered Accountants of Bangladesh (ICAB) is a professional
organization in Bangladesh supporting over 1,200 chartered accountants
& 20,000 students. The Institute provides insight and leadership to the
accountancy and finance profession in Bangladesh as well as globally. Our
well qualified members are trained to provide financial knowledge and
guidance based on the highest professional, technical and ethical
standards. We develop and support individuals, organizations and
communities to help them achieve long-term, sustainable economic
value.
The Institute of Chartered Accountants of Bangladesh (ICAB) provides its
members with knowledge and guidance based on the highest
professional, ethical and technical standards. We ensure a high level of
professional competence among the membership and those aspiring to be
members. We influence national policy formulation in areas related to the
accountancy profession and contribute, in a significant manner, to the
national development efforts.
3.2 ICAB's Mission Statement

The mission of ICAB is to provide leadership in the development,
enhancement and coordination of the Accountancy Profession in
Bangladesh in order to enable the profession to provide services of
consistently high quality in the public interest.
Page 14 of 75
To provide leadership in the development

Enhancement and coordination of the Accountancy profession in
Bangladesh
Page 15 of 75
3.3 ICAB's Vision Statement

To meet the ever-changing global economic demands dominated by WTO
regime, the ICAB is fast becoming a body of professionals whose expert
services will be highly sought after To anticipate, meet and exceed the rising expectations of the
society
To better use of opportunities to face the challenges of fiercer global
competition
To recognize the changes in economy/ business and recognize the
path to success by adopting changes in knowledge management
and acquiring skills
To recognize its role as a regulatory body to equip its members
(Chartered
Accountants) with top-quality education and values
To recognize the needs known as world Class Advisors.
In order to materialize the above vision, ICAB willGenerate Chartered Accountants of high competence through
rigorous but useful education and training, who will be able to meet
the challenges of the new millennium

Uphold professional integrity and honesty of its members
Advise government on taxation, business law and related matters
Maintain superiority in respect of professional competence
Meet the growing demand for qualified Chartered Accountants in
Bangladesh
Create the environment of mutual cooperation
Carry out continuous research and make in-depth study of related
subjects and apply findings of research and study in the fields of
accountancy profession
Page 16 of 75
3.4 Role of ICAB

The Institute of Chartered Accountants of Bangladesh (ICAB), the National
Professional Accounting Body of Bangladesh established under the
Bangladesh Chartered Accountants Order 1973(President's Order No. 2 of
1973).The Institute has the following objectives:
Regulates the accounting Profession and matters concerned there
with in the country
Administers its members and students
Ensures sound professional ethics and code of conduct by its
members
Provides specialized
Accounting,
training
Auditing,
and
Taxation,
professional
Corporate
expertise
Laws,
in
Management
Consultancy, Information Technology and related subjects

Imparts Mandatory continuing Professional Education (CPE) to its
members
Fosters acceptance and observance of International Accounting
Standards(IAS)and International
adopt
IAS
&
ISA
in
Standards
Bangladesh
Standards(BAS)and Bangladesh
as
on Auditing (ISA)and
Bangladesh
Standards
Accounting
on Auditing (BSA)
respectively
Keeps abreast of latest developments in Accounting techniques,
Audit
methodology,
Information
technology,
Management
consultancy and related fields

Liaises with regional and international organizations to influence the
development of efficient capital markets and international trade in
services.
3.5 ICAB's Management

The Council of ICAB is the Supreme Authority responsible for the
administration and management of the Institute. The Council is composed
of 20 (twenty) members elected by the members of the Institute from its
two regional constituencies in Bangladesh every three years. The Council
is headed by an elected President who is the Chief Executive of the
Page 17 of 75
Institute. The President and the Vice-Presidents of the Institute are elected
by the Council every year to manage the affairs of the Institute. The
Council is assisted by various Standing and Other (non-standing)
Committees. For the purpose of assisting the Council in matters
concerning its functions, the Council is empowered to constitute Regional
Committees. At the moment there are two Regional Committees in Dhaka
and Chittagong and two Chapters - UK Chapter and North American
Chapter.
The day to day running of the Institute is delegated to the Secretariat,
headed by the Secretary. The Secretariat is located at Chartered
Accountant Bhaban, 100 Kazi Nazrul Islam Avenue, Kawran Bazar, Dhaka1215, and Bangladesh.
3.6 Linkage to International bodies

The Institute is a permanent active member of several International and
Regional Accounting Bodies like:
International Federation of Accountants (IFAC), the apex body of the
accounting profession in the world and sole authority for adoption
and implementation of Auditing Standards Ethics etc.
International Accounting Standards Committee (IASC ),the sole
custodian for adoption and implementation of Uniform Accounting
Standards for member countries
Founder member of South Asian Federation of Accountants (SAFA ),
the Regional Accounting Organization of South Asia
Confederation of Asian and Pacific Accountants (CAPA)
International Accounting Standards Boards(IASB)
Moreover, the Institute has to make liaison with various government
agencies, local and international Chamber Bodies and business houses.
3.7 Membership
As on 20 April 2012, the Institute has 1252 members of whom 766 are
fellows and 486 are associates, 1107 members are resident in Bangladesh
and 145 are resident abroad. Associate and Fellow memberships are
offered by the Institute. Persons passing the qualifying Final Examination
Page 18 of 75
of the Institute are offered Associate ship (ACA) while fellowship (FCA) is
offered to members having at least five years post-associate ship
experience and fulfilling relevant other requirements. Out of 1252
members, 344 are practicing as public accountants and the rest 908 are
serving in various key positions in public and private organizations-both at
home and abroad.
3.8 FUNCTIONS OF CHARTERED

ENGAGED IN PUBLIC PRACTICES:
ACCOUNTANTS
Chartered Accountants engaged in public practice mainly carry out the

following functions:
- Perform professional services involving auditing or verification of

financial transactions, books, accounts or records, or preparation,
verification or certification of financial, accounting and related
statements;
- Render professional services or assistance in or about matters of
principles or details relating to accounting procedures, costing
techniques, or recording, presentation or Certification of financial facts or
data;
- Render professional services or assistance as Management Consultant in
or about matters of accounting methods, systems and techniques
involving forecasting, in order to assist management in its task of
formulating polices programmers, management systems and procedures
for maintaining and improving efficiency.
FUNCTIONS OF CHARTERED ACCOUNTANTS EMPLOYED IN TRADE,

COMMERCE, INDUSTRY, FINANCE, ETC.:
After qualifying, a Chartered Accountant may not necessarily go for public
practice either on his/her own or in partnership with other Chartered
Accountant(s) but may go for employment in trade, commerce, industry,
finance, etc. Many positions of trust and responsibility are open to a
Chartered Accountant such as Chief Executive, Member Finance, Finance
Director, Company Secretary, Chief Accountant, Finance Controller,
Page 19 of 75
Systems Analyst, Internal Auditor, Cost Accountant, etc. in Listed

Companies/ Autonomous bodies or in industrial, financial, commercial or
educational enterprises. A Chartered Accountant can also serve on the
Board of Directors of various organizations, particularly financial
institutions. Such positions of responsibility, trust, honor and dignity are
offered to Chartered Accountants because of their excellent educational &
training background, professional know-how & technical expertise and
sound financial knowledge & experience, thus enabling them to
contribute towards solving accounting, financial, educational and business
problems at top levels.
Page 20 of 75
3.10 Corporate information of ICAB

SL
No
1
Name
Designation
Kamrul Abedin FCA
President ICAB
Adeeb Hossain Khan

FCA
Vice President
(T&R)
Md. Shaifur Rahman

Mazumdar FCA
Vice President Mobile: +8801819300404

Email :vp.fin@icab.org.bd
(T&R)
Mahmudul Hasan
Khusru FCA
Vice President Mobile: +880-1713030959

Email :vp.edu@icab.org.bd
(T&R)
Akhtar Sohel Kasem

FCA
Councilor
Email :sohel.kasem@aqcbd.com
Anwaruddin Chowdhury
FCA
Councilor
.
Email :anwar_chow@yahoo.com
A. S. M. Nayeem
FCA
Councilor
Email :asm.nayeem@yahoo.com
Dr. Jamshed Sanyiath

Ahmed Choudhury
Councilor
Email :globepart@aol.com
Muhammed Farhad
Hussain, FCA
Councilor
Mobile: +880-1713001022
Email:mfarhadfca@dhaka.net,
1
0
MdHumayun Kabir FCA
Councilor
Email :bexijute@beximcojute.com
1
1
A F Nesaruddin FCA
Councilor
Contact Information
Mobile: +8801713035677
Email :president@icab.org.bd
Mobile: +880-01911311872
Email: vp@icab.org.bd
Mobile:+880-01713042700
Email : nesar@hodavasi.com
1
Page 21 of 75
Muhammad Farooq FCA
Councilor
1
3
Nasir Uddin Ahmed

FCA
Councilor
1
4
Dewan Nurul Islam FCA
Councilor
1
5
1
6
Parveen Mahmud FCA
Councilor
Md. Shahadat Hosssain,

FCA
Councilor
1
7
Gopal Chandra Ghosh

FCA,FCMA
Councilor
1
8
Moddassar Ahmed
Siddique FCA
Councilor
1
9
Mostafa Kamal FCA
Councilor
2
0
2
1
Md. Mahamud Hosain

FCA
A K M Rahmat Ullah
FCA
Mobile:+880-01786275546
Email: arooq@howladaryunus.com
Mobile:+880 1711-524275,
Email : nasir.ahmed@dhaka.net
Mobile:+880-01713082883
Email :
dislam@bd.gt.com
Mobile:+880-01711548739
Email :parveen@gtctrust.com
Mobile:+880-1715-001622
Email :sha.hossain@gmail.com
Mobile:+880-1711541718
Email :cfo@anwargroup.com,
Mobile:+880-1819312320,
Email :ahmed@kdsgroup.net
Councilor
Councilor
Page 22 of 75
Mobile:+880-1919770770
Email :mostafa@lankabangla.com
Mobile:+880-1713245858
Email :mmhosain@yahoo.com
Mobile:+880-01737688711
Email :secretary@icab.org.bd
3.11 Background of AYUB AND MAHMOOD

3.12 AYUB AND MAHMOOD mission Statement

They adhere to the strictest principles of client confidentiality. The
sensitive and competitive nature of proprietary information-and the
maintenance of trust-demands it. They have built our success on such
principles. They do our utmost to earn-and keep-client trust.
3.13 AYUB AND MAHMOOD VISION

They go beyond the traditional auditor and client relationship by
becoming your Trusted Business Advisor.
Page 23 of 75
3.14 Corporate information of AYUB AND MAHMOOD:

SL
No
1
Name
Designation
Ayub Azizuddin, FCA
Senior Partner
Iftekhar Mahmood, FCA
Senior Partner
Md. Moniruzzaman, FCA
Senior Partner
Md. Jahidulislam, FCA
Senior Partner
A. S. Nayeem, FCA,FCCA
Senior partner
MD. jashimuddin
AQM kalam, FCA
Partner
Md. Reajul Islam, ACA
Partner
Md. Mejbahhasan, ACA
Partner
10
A.S.M shultan, ACA
Partner
Partner
Page 24 of 75
3.15 Background of ICMAB

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.
The Institute of Cost and Management Accountants of Bangladesh
Conduct research in the field of Cost and Management Accounting in
order to promote and develop the profession to meet the requirement of
the time. ICMAB upholds high ethical and professional standards to
maintain public confidence in the field of Cost and Management
Accountancy. Today, more and more new, unique and innovative
businesses are operating in the globalized market. This is facilitated by
the
advancement
in
information
and
communication
technology.
Therefore Cost and Management Accounting program will adequately

prepare professional accountants for the new world of business. The
American Institute of Certified Public Accountants (AICPA) states that
management accounting as practice extends to the following three areas:
Strategic management
Page 25 of 75
Performance management
Page 26 of 75
Risk management ICMAB is a leading professional body in Bangladesh

that
offers
professional
qualification
in
Cost
and
Management
Accountancy, with a focus on accounting for business. ICMAB program has

been designed to meet the evolving needs of business-today and
tomorrow. ICMAB look forward to helping people to achieve excellence as
a professional. Regulate and develop the Cost and Management
Accounting (CMA) profession in Bangladesh Provide and confer the
highest professional degree in Cost and Management Accounting Impart
education and training to the members, corporate managers and
intending students of CMA for enhancing their capability in the fields of
Cost and Management Accounting Help development, adoption and
implementation of International Financial Reporting Standards (IFRS) in
Bangladesh Formulate, adopt and implement Cost Accounting and
Auditing Standards (CAAS) in Bangladesh and international Implement
statutory Cost Audit as provided in the Companies Act, 1994 and In
Bangladesh, the profession of accountancy developed during the British
colonial period.
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).
ICMAB members are known as CMAs with their designator 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.
Legacy of the Institute
Page 27 of 75
The Institute has a long heritage of rendering professional services to the

nation. The journey of the glorious profession of Cost and Management
Accounting began in the pre-independent Bangladesh with the founding
of a branch of The Pakistan Institute of Industrial Accountants (PIIA) in
1958. As we started a fresh journey towards success and prosperity in
independent Bangladesh, the profession entered into a new era. In 1972,
the Institute was re-established in the name of Bangladesh Institute of
Industrial Accountants (BIIA). Thereafter, the members of the Institute
through their excellence in various fields proved their credibility in the
national and international outfit which started building the credentials for
the Institute for gaining acceptability from all concerned and to attain
confidence of the government and business community of the country.
With the changing need of time the Government of Bangladesh renamed
it as The Institute of Cost and Management Accountants of Bangladesh
(ICMAB) through promulgation of The Cost and Management Accountants
Ordinance 1977 (Ordinance No LIII of 1977). Now in 2014, after a 40 years
arduous journey, the chronicle of success earned by our predecessors has
brought us to the place where we stand today.
Legal Status
ICMAB is a statutory organization constituted by the Government under
the Cost and Management Accountants Ordinance 1977 (Ordinance No Llll
of 1977) and regulated under the Cost and Management Accountants
Regulations 1980 (as amended up-to date). It is the member of a number
of regional and global accounting bodies.
The Development of Managerial Accounting & The Role of ICMAB What is
Management Accounting What is ICMAB Role of ICMAB in managerial
accounting of Bangladesh Conclusion Management accounting is a
profession that involves partnering in management decision making,
Page 28 of 75
devising planning and performance management systems, and providing

expertise in financial reporting and control to assist management in the
formulation and implementation of an organization's strategy.
Today it is represented by two professional bodies, the Institute of Cost &
Management Accountants of Bangladesh (ICMAB) and the Institute of
Chartered Accountants of Bangladesh (ICAB) Development of ICMAB 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).
ICMAB members are known as CMA. 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. The ICMAB
qualification is recognized by many professional bodies nationally and
internationally. The bodies that have granted exemption to ICMAB
members or qualified students are:
Chartered Institute of Management Accountants (CIMA), UK

Association of Chartered Certified Accountants (ACCA), UK
Institute of Management Accountants (IMA), USA
Society of Management Accountants of Canada (CMA Canada)
Certified General Accountants Association of Canada (CGA-Canada)
Institute of Certified Financial Consultants (IFC), USA & Canada
Institute of Certified Project Accountants (ACPA) , USA
Institute of Public Accountants (IPA), Australia
Institute of Chartered Accountants of Bangladesh (ICAB)
3.16 Mission Statement of ICMAB

Page 29 of 75
The Institute's mission is to develop, equip and promote Cost and

Management Accounting profession by maintaining highest professional
standard of its members in order to enable them to provide better
services to the society.
The Institute is entrusted with the formulation and implementation of
National Accounting as well as Cost Accounting Standards and takes other
necessary steps with a view to regulating the Cost and Management
Accounting profession commensurate with global standard with the
ultimate objective of developing Bangladesh's human and natural
resources to ensure common welfare and to enrich our shared future.
Page 30 of 75
3.17 Vision Statement of ICMAB

Institute's vision is to help Bangladesh become an industrialized nation by
promoting and regulating Cost and Management Accounting profession to
enhance economic competitiveness and quality of life.
3.18 Services of ICMABs

Equipped with various methods and techniques, the Cost &
Management Accountants can provide the following services
Collecting, collating, screening, interpreting and condensing data
relating to techno-human business activities
To enable Non-Financial Executives to arrive at the right decision or
to select the right courses of action at the right time
Costing of products and services
Designing and implementing effective management information and
control systems.
Planning and control of business operation through costing systems
and various techniques
Inventory control incorporating mathematical models
Cost reduction in connection with modern management tools like
Operation Research, Value Engineering, etc.
Investment analysis and preparation of Feasibility/Project reports; its
appraisal and evaluation
Information management. Project management-planning control
and accounting. Cost Audit of business transactions.
Performance Evaluation.
Working capital management.
3.19 Governance / Management of ICMAB

The Institute is governed by a Council constituted under the provision of
the Cost and Management Accountants Ordinance, 1977. The Council
Page 31 of 75
consists of 12 Fellow Members elected by the members of ICMAB and 4

nominees from the Government of Bangladesh. The Council is elected for
a period of three years. Every year one President, two Vice-Presidents,
one Secretary and one Treasurer are elected as office bearers from
amongst the councilors. The day to day administrative affairs of the
Institute is however, managed by a team of fully employed personnel.
3.20 Objectives
The major objectives of the Institute are to:
Regulate and develop the Cost and Management Accounting (CMA)
profession in Bangladesh
Provide and confer the highest professional degree in Cost and
Management Accounting
Impart education and training to the members, corporate managers
and intending students of CMA for enhancing their capability in the
fields of Cost and Management Accounting
Develop knowledge, skills and competence of the CMAs needed to
support economic development of the country and, thus, to prepare
capable manpower needed for various national and international
development activities according to the requirements of the
millennium
Help development, adoption and implementation of International
Financial Reporting Standards (IFRS) in Bangladesh
Formulate, adopt and implement Cost Accounting and Auditing
Standards (CAAS) in Bangladesh and international arena.
Conduct research in the field of Cost and Management Accounting in
order to promote and develop the profession to meet the
requirement of the time.
3.21
Corporate information of ICMAB
Page 32 of 75
SL
Name
Mr. Arif Khan FCMA
Mr. Jamal Ahmed

Choudhury FCMA
Prof. MamtazUddin
Ahmed FCMA
4
5
6
7
8
9
10
11
12
Mr. Md. AbdurRahman

Khan FCMA
Prof. Dr. Swapan Kumar
Bala FCMA
Mr. Muzaffar Ahmed
FCMA
Mr. M.
AbulKalamMazumdar
FCMA
Mr. Abu Sayed Md.
Shaykhul Islam FCMA
Mr. A. K. M.
DelwerHussain FCMA
Mr. Mohammed Salim
FCMA
Mr. Md. Mamunur Rashid
FCMA
Mr. Md. Munirul Islam
FCMA
13
Mr. A R M NazmusSakib
14
Mr. Md.EnamulHoque
15
Mr. Md.Shawkat Ali

Waresi
Designation
Contact
Telephone: +880 (2) 883 4990

E-mail: arifkhan.fcma@gmail.com
VICECell:01713-015254
PRESIDENT E-mail: jac@bpl.net
Cell:01816-235109
VICEEmail:
PRESIDENT mamtaz_uddinahmed58@yahoo.co
m
Cell:01713-009688
SECRETARY
E-mail: rkhan67@yahoo.co.uk
Cell:01714-377811
TREASURER
E-mail: skbala@dsebd.org
Mob. 01819-213014
MEMBER
Email: mahmedcrisl@gmail.com
PRESIDENT
MEMBER
MEMBER
MEMBER
MEMBER
MEMBER
MEMBER
GOVT.
NOMINEE
GOVT.
NOMINEE
GOVT.
NOMINEE
Mob.01711-537482
E-Mail: kalam1227@dhaka.net
Off:8061119
E-mail:
adharer_nilimay_dc@yahoo.com
Cell:01711-171650
E-mail: delwer_fcma@yahoo.com
Cell:01711-644859
E-mail: salimlsc@yahoo.co.uk
Cell: 01714044096
E-mail: mamun314@yahoo.com
Cell:01713329690
E-mail: aplhrd@gmail.com
Off: 7169507
E-mail: nsakib@finance.gov.bd
Off: 9563559
Cell: 01552-350386
Off: 7167212
Page 33 of 75
Part: 4 Literature Review

4.1 Auditing
Auditing is the on-site verification activity, such as inspection or
examination, of a process or quality system, to ensure compliance to
requirements. An audit can apply to an entire organization or might be
specific to a function, process, or production step.
As defined in ISO 19011:2011Guidelines for auditing management
systems, an audit is a systematic, independent and documented process
for obtaining audit evidence [records, statements of fact or other
information which are relevant and verifiable] and evaluating it
objectively to determine the extent to which the audit criteria [set of
policies, procedures or requirements] are fulfilled. Several audit methods
may be employed to achieve the audit purpose.
There are three discrete types of audits: product (which includes
services), process, and system. However, other methods, such as a desk
or document review audit, may be employed independently or in support
of the three general types of audits.
Some audits are named according to their purpose or scope. The scope of
a department or function audit is a particular department or function. The
purpose of a management audit relates to management interests such as
assessment of area performance or efficiency.
An audit may also be classified as internal or external, depending on the
interrelationships among participants. Internal audits are performed by
employees of your organization. External audits are performed by an
outside agent. Internal audits are often referred to as first-party audits,
while external audits can be either second-party, or third-party.
4.2 Taxation
Taxation refers to the practice of government collecting money from its
citizens to pay for public services. Without taxation, there would be no
public libraries or parks.
One of the most frequently debated political topics is taxation. Taxation is
the practice of collecting taxes (money) from citizens based on their
Page 34 of 75
earnings and property. The money raised from taxation supports the
government and allows it to fund police and courts, have a military, build
and maintain roads, along with many other services. Taxation is the price
of being a citizen, though politicians and citizens often argue about how
much taxation is too little or too much.
4.3 Management Accounting

Managerial accounting is concerned with providing information to
managers, that is, to those who are inside an organization and who direct
and control its operations. Managerial accounting can be contrasted with
financial accounting, which is concerned with providing information to
stockholders, creditors and others who are outside an organization
(Garrison and Noreen, 1999).
Managerial accounting information includes:
Information on the costs of an organizations products and services:
o For example, managers can use product costs to guide the
setting of selling prices. In addition, these product costs are
used for inventory valuation and income determination
(Horngren and Foster, 1987).
Budgets:
A budget is a quantitative expression of a plan.
Performance reports:
o These reports often consist of comparisons of budgets with
actual results. The deviations of actual results from budget are
called variances (Horngren and Foster, 1987).
Other information which assist managers in their planning and
control activities:
o Examples are information on revenues of an organizations
products and services, sales back logs, unit quantities and
demands on capacity resources (Kaplan and Atkinson, 1989).
4.4 Chartered Accountancy

Chartered Accountancy is the specialized field of Accounting. The
qualification of a Chartered Accountant is being increasingly acclaimed as
the best professional qualification in this millennium of free market
Page 35 of 75
economy and globalization of trade and services. Education and training

system of Chartered Accountants is such that after qualifying, a Chartered
Accountant may go for public practice either on his/her own or in
partnership with other Chartered Accountant(s) or he/she may go for
employment in trade, commerce, industry, finance, etc.
Page 36 of 75
Part: 5 Topic Parts

5.1 Why this Topic
In today's free globalized world, Chartered Accountants and Cost and
management Accounting (CMA) are in public practice, in all sizes of
accounting firm from sole practitioners to affiliates of large international
firms. They are also employed in industries, finance and commerce
playing a wide variety of financial, management and senior policy making
roles both at home and abroad.
We have selected or assigned to this topic because of its demand and
honor all over the world. If we know the detailed information about this
two major Accounting professional course we may be motivate to attain
those course and insure a bright and successful future career.
Also one of the main reasons for selecting this topic is, as we are the
student of BBA and doing a course on Managerial Accounting. It is the
recruitment of the course. By preparing this report our knowledge about
Accounting profession will increase.
5.2 Benefits of being a Chartered Accountant

A Chartered Accountant is a Professional who is trained in and possesses
the expertise to perform the various types of work such as Accounting,
Taxation, Auditing, Financial Management, Project Appraisal, MIS, IT,
Computer Auditing, Consultancy etc. In certain areas, like audit, they
have the monopoly.
The practicing Chartered Accountants mainly carry out audit, inter alia, of
financial statements of various enterprises/organizations as Public
Accountants under the banners of approved Chartered Accountant Firms.
Perform professional services involving auditing or verification of
statements;
Page 37 of 75
Render professional services or assistance in or about matters of

techniques, or recording, presentation or certification of financial
facts or data;
Render professional services or assistance as Management
Consultant in or about matters of accounting methods, systems and
techniques involving forecasting, in order to assist management in
its task of formulating policies, programmers, management systems
and procedures for maintaining and improving efficiency.
Management Consultancy services encompass, inter alia, the
following areas:
o Valuation of business and shares
o Designing of accounting, internal control and operational
systems for organization. Rendering of services like
maintaining computerized financial accounts of companies,
business process re-engineering, management selection and
recruitment, disinvestment of government enterprises, etc.
Page 38 of 75
Part: 6 Actual Task parts

6.1 Groups Activities
To make this report successful we the group of five member attempt
several activities. Such as:
Group discussions
Project planning
Preparing project time-line
Task deviations
Information gather
Visiting CA Bhobon, CA firm and ICMAB Bhobon
Preparing report and presentation Etc.
6.2 Task deviation

S/
L
Name
ID Number
01
Md yahia Raja
13202080
02
Marium Akter Nahida
13202019
03
Israt Jahan Chayan
13202104
04
Shakawat Hossain
05
Mamunur Rashid
Page 39 of 75
Activities
6.3 Learning through this project
Details about CA course, Activities of a CA firm also CMA course

Activities of ICAB, CA firm, ICMAB
Services of ICAB, CA firm and ICMAB
Requirement of CA and CMA Course
Admission process
Curriculum area or training criteria
Duration of those courses
Evaluation after course has finish
Career opportunity in CA and CMA
Standard structure and procedure of writing or preparing a report
Fundamentals of research technique
Page 40 of 75
Part: 7 Research parts

7.1 Project time-line
1.
2.
3.
4.
Assigning this project: 15th February, 2016

Group discussion: 16th February, 2016 20th February, 2016.
Project planning: 20th February, 2016-25th February, 2016
Visit CA Bhabon, CA Firm and ICMAB Bhabon: 29th February,
2016
5. Group discussion: 3nd march, 2016- 5th march, 2016
6. Task divination: 4thmarth, 2016
7. Information gather: 5th march, 2016- 12th march, 2016
8. Preparing final report: 10th march 2016 13th march, 2016
9. Preparing presentation slide: 13th march, 2016
10.
Report submission and presentation: 14th march, 2016
7.2 Project time-line in Chart
Page 41 of 75
7.3 Budgeted information

The total assumed and listed costing for preparing this report and entire
project is presented below.
S/L
1.
2.
3.
4.
5.
6.
7.
8.
9.
Cost Item Name

Bus rent
Breakfast bill
Rickshaw rent
Snacks and soft drinks
Mobile bill
Report print
Spiral Binding
internet
Others
Quantity and cost area

5 person * 45TK
5 person * 95TK
5 person * 25TK
5 person * 25TK
5 person * 30TK
Total
30* 1
In Average
In Average
Total=
Total cost- TK
225
475
125
125
150
230
30
200
200
TK-1760
The total actual or assumed cost for this entire project work is more
or less TK-1760 and still not finished
Comments: Project may cost high but knowledge we get is more
valuable than this cost but as we are student of Business Studies
and did several Accounting courses we should focus on the cost
also.
7.4 Research Instruments

To provide and gather as much informative and relative evaluation
descriptive method was used. This method includes the use of
questionnaires and interviews also the online get way. The tools used by
the researcher are discussed. Online information source was used as the
main data-gathering instrument for this study. And the second main
source was the face to face interview also the appointment over Cell
phone.
Page 42 of 75
7.5 Data Sources

Primary Data:As mentioned earlier the main data source was Internet
and Face to Face interview with ICABs and ICMABs information officers
also the group discussion with CA firms officers.
Secondary Data:
ICABs Annual report

ICMABs Annual report
Institutes websites
Online and printed Magazine
News paper
Online Article
Internet (google.com)
7.6 About (Data Analysis)

ICAB Institute of Chartered Accountants of Bangladesh:
2 of 1973).
ICMAB- Institute
Bangladesh:
of
Cost
and
Management
Accountants
of

Page 43 of 75

AYUB & MAHMOOD CA firm:

7.7 Benefits of being a CA & FCMA

A Chartered Accountant and Cost and Management Accountant is a
Professional who is trained in and possesses the expertise to perform the
various types of work such as Accounting, Taxation, Auditing, Financial
Management, Project Appraisal, MIS, IT, Computer Auditing, Consultancy
etc. In certain areas, like audit, they have the monopoly.
The practicing Chartered Accountant and Cost and Management
Accountant mainly carry out audit, inter alia, of financial statements of
various enterprises/organizations as Public Accountants under the
banners of approved Chartered Accountant Firms.
Perform professional services involving auditing or verification of
statements;
Render professional services or assistance in or about matters of
Page 44 of 75
techniques, or recording, presentation or certification of financial

facts or data;
Render professional services or assistance as Management
Consultant in or about matters of accounting methods, systems and
techniques involving forecasting, in order to assist management in
its task of formulating policies, programmers, management systems
and procedures for maintaining and improving efficiency.
Management Consultancy services encompass, inter alia, the
following areas:
Valuation of business and shares
Designing of accounting, internal control and operational systems
for organization. Rendering of services like maintaining
computerized financial accounts of companies, business process reengineering, management selection and recruitment, disinvestment
of government enterprises, etc.
Apart from these CA Firms are also engaged in:
Taxation services
Business Information System (BIS)
Statutory and Liquidation services, etc.
Many positions of trust and responsibility are open to a Chartered
Accountant such as Chief Executive, Member Finance, Finance Director,
Company Secretary, Chief Accountant, Finance Controller, Systems
Analyst, Internal Auditor, Accountant, etc. in Listed Companies,
Corporations/ Autonomous bodies or in industrial, financial, commercial or
educational enterprises.
A Chartered Accountant can also serve on the Board of Directors of
various organizations, particularly financial institutions. Such positions of
responsibility, trust, honor and dignity are offered to Chartered
Accountants because of their excellent educational & training
background, professional know-how & technical expertise and sound
financial knowledge & experience, enable them to contribute towards
solving accounting, financial, educational and business problems at top
levels.
7.8 Career Prospects in Comparison with other

Professions
Page 45 of 75
CA is an internationally relevant and accessible qualification a goanywhere passport to a successful career. In an age of growing
globalization and intensified competition, modern business demands
timely and accurate financial information. That is why CAs' are sought
after by companies across the world. They are commercial business
managers with wide-ranging skills. With this globalization, the world
economic scenario is rapidly evolving. Innovative financial instruments
are being constantly introduced in the twenty first century, and the
Chartered Accountancy (CA) Profession world-wide is in the forefront in
launching these financial products. Chartered Accountancy (CA) has
emerged as a unique profession of paramount importance. Anybody will
find Chartered Accountancy as a satisfying and rewarding profession.
Apart from exciting opportunities and attractive pay-packages, Chartered
Accountancy qualification is recognized internationally, and its reputation
and value are maintained through high standards of assessment and
regulation. It is the professional qualification of choice for businesses
worldwide.
The profession of Chartered Accountancy is looked upon with great
honour and dignity. Chartered Accountants have developed this over the
years through sincerity, devotion, and integrity. Business promoters and
owners cannot deal with every detail of their business. The People they
employ to conduct their business do a lot of things on each of those
where they cannot lay their fingertips. Promoters and owners engage
Public Accountants to let them know net results of their business activities
and repose full confidence in Public Accountants to dig out truths, where
necessary.
Due to the increasing demand for their services, the average earnings/
remuneration packages of Chartered Accountants has also steadily
increased in recent past. Hence a student, on successful completion of
examinations and training, could look forward to a comfortable
compensation package.
Today's world is governed by commerce and trade. Only the Chartered
Accountants can control the matters related to commerce and trade. So
there is a increasing demand of Chartered Accountants worldwide. And
that is why the Chartered Accountancy is best among all other
professions.
Page 46 of 75
Chartered Accountancy in Bangladesh

In Bangladesh where resources are limited, support of the government for
starting an activity at national level is greatly needed. Government of
Bangladesh has given total support to the development of accounting
profession in the country. Policy makers of the country are taking keen
interest in the activities of the profession.
Chartered Accountancy is the most lucrative and remunerative job, not
only in Bangladesh but, over the world. ICAB is the only organization to
train the most prestigious professionals and to regulate Chartered
Accountancy profession in the country. During the year 2010-11, the
Institute granted registration to 1082 students for Article ship, 1392
students completed their Article ship training and 46 Articled Students
discontinued Article ship due to various reasons. In Course Articled
Students during the year 2010-11, 3570 students were registered for
Article ship with the Institute.
Though it is apparent that the path for accomplishment of the C.A.
qualification is not an easy task, but with the unique combination of rich
inputs and active processes in a supportive environment has been made
by ICAB, the results is now well worth your endeavors and CA profession
has become preferential one day by day. ICAB has now grown to a
membership size of 1252 of which 766 are Fellow Members and the rest
486 are Associate Members. (As on 20 April 2012)
Female in CA Profession in Bangladesh
Females are also playing a vital role as Chartered Accountants in
Bangladesh and taking leading role gradually to become co-partner of the
profession. ICAB has 42 female members (as on 20 April 2012) who are
occupying the high ranking positions in CA firms, NGOs and international
organizations like, the World Bank.
Female students are increasing tremendously and are becoming matured
adequately. ICAB wishes to have many more qualified (and part-qualified)
female Chartered Accountants in the near future.
7.9 About CA (Joining)

Chartered Accountancy a prestigious professional course in Bangladesh.
Some Basic Information about Chartered Accountancy is following:
Page 47 of 75
Controller of CA: The Institute of Chartered Accountants of Bangladesh

Address of ICAB:
The Institute of Chartered Accountant of Bangladesh
Chartered Accountant Bhaban

100 Kazi Nazrul Islam Avenue
Dhaka-1215, Bangladesh
Tel: +880-2-9117521, 9115340, 9137847

Fax: +880-2-8119399
E-mail:secretary@icab.org.bd
Website: www.icab.org.bd
Page 48 of 75
Qualifications
for
HSC/Equivalent
entering
Chartered
Accountancy
after
Minimum qualification of SSC & HSC passed students:

GPA 5 in SSC + GPA 4 in HSC
OR,
GPA 4 in SSC + GPA 5 in HSC
Total 9 Points (one A+ is must)
Minimum qualification of the students of O & A Levels:
Minimum 38 points in O Level
In minimum 5 subjects & maximum 07 subjects
And
Minimum 12 points in A Level
In maximum 03 subjects
(A = 10 points, B= 6 points, C=4 points)
Point will be not allowed less than C
Minimum qualification of the students of O Level & HSC:
Minimum 38 points in O Level
In minimum 5 subjects & maximum 07 subjects
And
Minimum GPA 4 in HSC
Period of Article ship:
Four (04) years.
Candidates securing 3As in A Level with the necessary requirement in
O Level will have a Period of Articleship of three years and six months
(3years & 6 Months)
ICAB Entry Criteria Link You Can see the detail, to see Click here
Page 49 of 75
JOINING PROCESS OF CA:

Ensure the minimum qualification as per ICABs requirement first.
After confirming the qualifications a student have to find a Ca firm to
study CA.
Firstly a Student needs to drop his/her CV to his/her desired
directly.
CA firms
Then the firm will contact with the student / the Students will face an
exam to join the CA firm.
After the exam if he/she can prove his/her talent then the CA firm will give
him/her the chance of Article ship.
Question Type of CA Admission Exam:
First of all i would like to mention that there is no fixed Question and
subjects of CA admission test. Every firm have there on strategy for
admitting new students. Admission exam is held as per firms rules, there
is no rule imposed by ICAB. So naturally question may vary from firm to
firm.
Though there is no fixed subjects for CA admission test, many firms
usually try to find those students who have a good knowledge over
Accounting & English.
Try to get some idea about CA questions and answers -Click to
Download ca-firm-exam-question & answer
For Detail admission tips please click here to find admission tips from CA
in Bangladesh
Probation Period:
After joining a ca, firm probation period is start. The period before giving
registration to a Student is called probation period. Probation period
various from firm to firm, but in general Probation Period is three (3) or six
(6) months.
Articleship Rules:
Page 50 of 75
After the registration of students with ICAB, the Articleship period is start.
During the time of Articleship a student have to work in the firm under
his/her principal from 9am-5pm or even More (as per firms rule). He/she
have to face various kinds of Audits and various kinds of Clients. He/she
may need to go in various places for audit purpose.
Page 51 of 75
Condition of Registration with ICAB:

For registering a student with ICAB the students should ensure the
qualification based on Educational background.
And the student needs to be 18 years old, if not then the students parent
needs to make a deed with ICAB with that He/She permit his/her
son/daughter to study ca though he/she is not 18. This should write on
one 100 tk stamp & one 50 tk stamp and it must be signed with date.
Changing of firm:
In rare case students needs to change his/her firm. For changing of firm,
a student needs to take Permission
From his/her present firm & from his principal
From ICAB
From the new firm
Intention of a Student:
It is not important that who you are or from which firm you are but the
important matter is that you have to pass CA and you have to be a
qualified Chartered Accountants. Firms doesnt matter if you pass CA.
Remember one thing that we are joining CA before our Graduation so we
must have to pass CA. Otherwise we cant fight in Job field because we
have no Degree more than HSC. We have enough time also but we have
to use our time properly and we have to gain our goals. We have to be
CHARTERED ACCOUNTANTS.
Page 52 of 75
Pathway to membership
Page 53 of 75
7.10 Requirements for Admission

1)
Tk. 13,500/- for PS-KL Classes (second of subsequent time attendance)
Tk. 15,000/- for PS-AL Classes;
Tk. 18,000/- for Advanced Stage Classes
Tk. 25,000/- for Advanced Stage-Case Study Classes
The necessary fees of classes should be paid by crossed pay order/
Demand Draft drawn in favor of ICAB from any scheduled Bank as per
enrollment schedule mentioned above and be deposited to ICAB Accounts
Section at C A Bhaban (6th Fllor) and the Coaching Classes Application
Form should be submitted along with the Money Receipt at ICAB
Academic Campus, 69/l/1, East Panthapath, Green Road, Dhaka 1205 for
Dhaka Center Students & at CRC Office, 1/D, Agrabad C/A, Chittagong for
Chittagong Center Students.
Students attending in PS-Knowledge Level for the first time will submit
their Original Money Receipt issued earlier.
2) Photograph: 02 Copies (stamp size)
3) Photocopy of Identity Card or C.C. Certificate; and
4) Photocopy of Marks Sheet or Congratulations Letter (for PS-AL & AS

students).
Page 54 of 75
7.11 ICAB Entry Criteria

Students having the following qualifications are eligible for Article-ship:
1. under Graduates:
(I)
SSC & HSC or Equivalent Examinations:
GPA 4 in SSC with GPA 5 in HSC

Or
GPA 5 in SSC with GPA 4 in HSC
Period of Article ship: Four (04) years.
(II)
O & A Levels:
-Minimum 38 points in O Level in minimum 5 subjects & maximum 07

subjectsAnd
-Minimum 12 points in A Level in maximum 03 subjects
-Points to be considered as Grade A = 10 points, B= 6 points, C=4
points
-No point will be considered for Grade less than C
Provided that candidates securing 3As in A Level with the necessary
requirement in O Level will have a period of Article ship of three years
and six months.
(III) O Level & HSC:
-Minimum 38 points in O Level in minimum 5 subjects & maximum 07
subjects&Minimum GPA - 4 in HSC
2. Graduates and Post Graduates:
Graduates or Post- graduates in any discipline having minimum 07
(seven) points with no third division/ third class from any recognized
Page 55 of 75
Board/Public University/ National University/ Private University/ Institute

(as approved by University Grants Commission of Bangladesh).
Points will be determined as under:

Level Grade/ Division Points
(IV) O Level*
(No point will be considered for Grade less than C)Grade Point 24 or
above (minimum 5 subjects & maximum 07 subjects) as per point scale in
term 1
* Above
Grade Point 20 to less than 24 (minimum 5 subjects) as per point scale in

term 1
*Aabove
SSC *GPA 3 or above/ First Division
GPA 2 to less than 3/ Second division

HSC GPA 3 or above / First Division
GPA 2 to less than 3/ Second Division
Graduation CGPA 3 or above (out of 4) & CGPA 4 or above (out of 5) / First

Class 3
CGPA 2.5 to less than 3 (out of 4) & CGPA 3 to less than 4 (out of 5) /
SecondClass2
Post-Graduation CGPA 3 or above (out of 4) & CGPA 4 or above (out of 5) /
FirstClass 3
CGPA 2.5 to less than 3 (out of 4) & CGPA 3 to less than 4 (out of 5) /
Second Class2
Period of Article ship: Three (03) years
Page 56 of 75
* In case any candidate has passed both the examinations, either O

Level or SSC examination result (whichever earns more points) will be
considered.
ACMA/FCMA and ACCA/FCCA
ACMA or FCMA of ICMAB and ACCA or FCCA (with no consideration of
Division/ Class/CGPA in any Level of academic qualification/examination).
They will be exempted from the following papers:
Page 57 of 75
Professional Stage (Knowledge Level):
Accounting*
Taxation-I
Business and Commercial Law
ITS Knowledge
Professional Stage (Application Level)
ITS Application
* He /she will have to successfully complete a Conversion Course on

Preparing Ltd. Co. Accounts to be organized by ICAB in order to get
exemption from PS (K) accounting. Alternatively, he/she will have to pass
the Accounting paper.
Period of Article ship: 02 (two) years
ICAB New Curriculum

Examination Structure
(i) The examinations structure shall comprise of 2-stages as follows:
Professional Stage (PS)
Advanced Stage (AS)
Professional Stage examination shall again consist of 2 progressive level
of examination as follows:
Knowledge level
Application level
(ii) Professional Stage (Knowledge Level) i.e. PS (K) shall consist of 07
papers with examination duration of 1 hours each except Taxation-I
which will be of 3 hours duration, as under:
Page 58 of 75
Subject Duration Marks

(1)
100
Assurance
1 hours
(2)
100
Accounting
1 hours
(3)
100
Business and Finance
1 hours
(4)
100
Management Information
1 hours
(5)
100
(6)
100
(7)
100
Taxation-I
03 hours
Business and Commercial Law

IT Knowledge
1 hours
1 hours
700
(iii) Professional Stage (Application level) i.e. PS (A) shall consist of 07
papers with examination duration of 2 hours each as under:
Subject Duration Marks
(1)
100
Audit and Assurance
2 hours
(2)
100
Financial Accounting
2 hours
(3)
100
Business Strategy
2 hours
(4)
100
(5)
100
Financial Management
Taxation-II
2 hours
2 hours
Page 59 of 75
(6)
100
(7)
100
Corporate Laws and Practices

IT Application
2 hours
2 hours
700
(iv) Advanced Stage (AS) shall consist of the following 04(four) papers
with examination duration of 3 hours each except Case Study which will
be of 4 hours duration:
Page 60 of 75
7.12 Information collects from ICMAB

CMAs in addition to being trained in all facets of general accounting and taxation,
receive special training in cost audit, management audit and management accounting.
Both the ICMAB and ICAB are under the administrative control of the Ministry of
Commerce. The Govt. of Bangladesh considers both type of professional accountants
equal
in
respect
of
employment
in
govt.
services
as
per
circular
No.Com/PTMA/AP/2/19/87
Purpose of doing CMAs course
CMAs (Cost and Management Accountants) are forward looking, unlike
traditional accountants who focus on reporting past performance
Cost and Management Accountants are typically qualified to engage in a wide
variety of business - related activities such as:
Working across the business interpreting financial data for non-financial
manager
Explaining the financial consequences of management decisions and
suggesting possible
Courses of action
Advising managers on the financial and economic implications of project
management
Making strategic decisions and formulating business strategies to create wealth
and
shareholder value
Monitoring spending and the effectiveness of financial control
Managing risk and business assurance
Cost determination and financial control
Evaluating existing financial information systems and
suggesting
improvements thereof
Conducting internal business audits and preparing periodic financial statements
for
managers
Explaining the impact of the competitive landscape.
Page 61 of 75
CMAs can also be self-employed as practicing Cost and Management

Accountants, Management Consultant, Cost Auditor, Tax Adviser, etc.
CMAs combine a high level of financial and management expertise with
excellent business acumen and decision-making skills. This makes them
essential to every business in all sectors covering Industry, Commerce,
Government, Semi Government, Autonomous Bodies, Public Sector and notfor-profit Organizations.
7.13 ICMAB Entry Criteria

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) opens the
door of studying prestigious cost and management accounting courses for HSC passed
students for the first time from JULY-DECEMBER 2015 session. Now, the institute has
widened the scope to cater the needs of the society in line with the international
professional accounting organizations (PAOs). Such opportunity will help the institute to
produce highly qualified and skilled professional accountants in a more focused way.
Thus the institute has offered three different entry routes based on the previous academic
achievements.
Intermediate Entry Route (IER) Applicable to HSC Passed Candidates
Graduate Entry Route (GER) Applicable to Graduated Candidates
Professional Entry Route (PER) Applicable to Candidates with Other
Professional Designations
Specific minimum entry requirements are mentioned in following sections:
Page 62 of 75
Intermediate Entry Route

Any student who has finished Higher Secondary School Certificate (H.S.C.) or A Level
or Equivalent Examinations are eligible to enter into prestigious Cost and Management
Accountancy program as offered by the Institute of Cost and Management Accountants of
Bangladesh through this route. The minimum entry criteria under IER are set as below:
With S.S.C or H.S.C. or Equivalent Examinations
Minimum total GPA required is 8.00.
With O & A Levels
O Level: Minimum 30 points at 5 subjects (excluding mother language)
A Level: Minimum 12 points at 3 subjects
Points Computation Legend:
Grade A :10 Points
Grade B : 6 Points
Grade C : 4 Points
No point will be considered for Grades less than C
c. O Level and H.S.C. or Equivalent Examinations
O Level: Minimum 30 points at 5 subjects (points to be computed as mention in b
above)
H.S.C. or Equivalent Examinations: Minimum GPA is 4.00
Graduates Entry Route
This route is applicable to any aspiring graduated candidate who opts to attain the
prestigious CMA designation. Graduates or Post- graduates in any discipline having
minimum 06 (six) points from any recognized Board/Public University/ National
University/ Private University/ Institute (as approved by University Grants
Commission of Bangladesh). Without accounting major a student can apply for this
course.
Page 63 of 75
CMA Curriculum Structure:
Page 64 of 75
The curriculum has two entry levels (basements), four pillars (regulatory, enterprise,
performance and financial) and one roof (internship and research). A student may
seek admission in two consecutive levels (except for intermediate entry route that
havent yet passed knowledge level); however, he cannot sit for the exam at a higher
level course until he finishes the lower level paper within the same pillar.
Achievement of permanent credit in all the papers is a must to undergo an internship
and research. Students may also sit for CIMA case studies at different levels if they
like so. In that case, they need to enroll with CIMA and continue the two programs in
parallel. However, ICMAB membership is a pre-requisite to CIMA membership.
Page 65 of 75
Part: 8 Report Ending Parts

8.1 Research Limitation
Facing problems Transport Problem from Uttar to ICMAB
In ICAB Bhabon, information officers are not enough friendly to give
us information
Distance between ICBA and ICMAB also CA firm
Lack of co-ordination by ICAB and ICMABs information officer
8.2 Findings:
CA and CMA are top leading professional courses in Bangladesh.
CA course and ICMAB course are very demandable in the present
time of job market.
Without accounting major a student can do CA and CMA course.
Any background student such as science, arts and also business
studies student can do both course.
For Admitting CA and CMA course every students must qualified
admission test.
ICAB is the regulatory body of CA course, they take the exams but
student learned and trained under a CA firm.
ICMAB is take the classes of CMA student, student can do class in
evening also.
CA students have to study in three levels, after passing all levels
student get certificates.
In CMA course, graduated students have to study two level these
are business level, professional level but HSC completed student
have to study three levels. These are knowledge level, business
level, and professional level.
After completing CA and CMA, A person can get top level of job in
Bangladesh and abroad.
Page 66 of 75
8.3 Recommendation:
Ifa student wants to take those courses, we give some recommendation
for them:
Follow the requirement of admission

Collect enough information before go for admission
Should be strong in English, accounting Analytical knowledge
Students who are not graduated, it will be very hard for them
Applicant may take part in evening shift
Find out a well-known and good CA firm for assisting
Study hard to be passed in all the courses

8.4 Conclusion
ICAB and ICMAB uphold high ethical and professional standards to
maintain public confidence in the field of professional Accountancy. Today
more and more new unique and innovative business are operating in the
globalize market. This is facilitated by the advancement in information
and communication technology. The CA and CMA program will adequately
prepare professional accountants for the new world of business.
Is it are the highly demanded course people in the business world are
more attaining those courses. To be a successful CA or FCMA, the
applicants should be hard worker and specific to the requirement for
passing that exam. By becoming a good grade CA of CMA holder the
individual can lead his /her career in a bright milestone.
Page 67 of 75
Part:6 Appendix
Pictures from the visiting
Page 68 of 75
References
News Latter
Online and printed Magazine
Annual Report of ICAB & ICMAB
http://en.wikipedia.org/wiki/Institute_of_Chartered_Accountants_of_Ban
gladesh
http://www.icab.org.bd/index.php?
option=com_content&view=article&id=51&Itemid=55
http://www.icab.org.bd/images/stories/download/ca_syllabus/knowledg
e_level.pdfhttp://en.wikipedia.org/wiki/Institute_of_Cost_and_Managem
ent_Accountants_of_Bangladesh
Collecting information by visiting ICAB, CA firm, ICMAB.
http://www.icab.org.bd/
http://www.icmab.org.bd/
http://www.icmab.org.bd/index.php/about-us/the-institute4
http://www.icmab.org.bd/index.php/layout-option/why-cma
http://www.icmab.org.bd/index.php/demo-contents/admissionpolicy/icmab-entry-criteria
http://www.icmab.org.bd/index.php/demo-contents/admissionpolicy/fees-and-charges
https://targetjobs.co.uk/career-sectors/accountancy-and-financialmanagement/283291-which-accountancy-specialisation-should-youchoose
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Report On Icab & Icmab (Raj)

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Report Formal Part

Subject: Letter of Transmittal.

The Group-02 Soldiers of Victory

Md. Yahia Raja

Marium Akter Nahida

Israt Jahan Chayan

At first we would like to express our gratefulness to the almighty of Allah

courses, is Charted Accountancy (CA) & the Cost and Management

Chartered Accountancy (CA) and Cost and management Accounting (CMA)

Part: 2 Introductory Parts

2.2 Brief Discussion about ICAB, ICMAB and CA firm

The Institute of Cost and Management Accountants of Bangladesh

Institute of Cost and Management Accountants of Bangladesh (ICMAB) is

AYUB & MAHMOOD CA firm:

2.3 Objectives of the Report:

Visiting the CA Bhabon and a CA firm

Visiting the ICMAB Bhabon.

2.4 Scope of the Report

Part: 3 Organizational Parts

3.1 Background of ICAB

3.2 ICAB's Mission Statement

To provide leadership in the development

3.3 ICAB's Vision Statement

the challenges of the new millennium

3.4 Role of ICAB

Consultancy, Information Technology and related subjects

consultancy and related fields

3.5 ICAB's Management

3.6 Linkage to International bodies

3.8 FUNCTIONS OF CHARTERED

Chartered Accountants engaged in public practice mainly carry out the

- Perform professional services involving auditing or verification of

FUNCTIONS OF CHARTERED ACCOUNTANTS EMPLOYED IN TRADE,

Systems Analyst, Internal Auditor, Cost Accountant, etc. in Listed

3.10 Corporate information of ICAB

Kamrul Abedin FCA

Adeeb Hossain Khan

Md. Shaifur Rahman

Vice President Mobile: +8801819300404

Vice President Mobile: +880-1713030959

Akhtar Sohel Kasem

Dr. Jamshed Sanyiath

MdHumayun Kabir FCA

Muhammad Farooq FCA

Nasir Uddin Ahmed

Dewan Nurul Islam FCA

Parveen Mahmud FCA

Md. Shahadat Hosssain,

Gopal Chandra Ghosh

Mostafa Kamal FCA

Md. Mahamud Hosain

3.11 Background of AYUB AND MAHMOOD

3.12 AYUB AND MAHMOOD mission Statement

3.13 AYUB AND MAHMOOD VISION

3.14 Corporate information of AYUB AND MAHMOOD:

Ayub Azizuddin, FCA

Iftekhar Mahmood, FCA

Md. Moniruzzaman, FCA

Md. Jahidulislam, FCA

AQM kalam, FCA