lead the business world with icma pakistan
Post on 28-Apr-2022
1 Views
Preview:
TRANSCRIPT
Lead The Business World With ICMA Pakistan
CMA is a Qualification which enables you to become
CEO / CFO / CIA / CS and provides opportunities to serve in
every sector of the economy in Pakistan & abroad at
Corporate Leadership positions
Institute of Cost and Management Accountants of
Pakistan is a Professional Accounting Organisation
that empowers you to become competitive locally
and globally. Being a member of ICMA Pakistan will
help you reach the height of your career. The
corporate sector, striving for business growth,
profitability and sustainability, is facing challenges to
remain competent and transparent while adopting
emerging business opportunities. It is a dire need of
the time for professionals to align themselves to
efficiently respond to the changing world of business
for which competent professionals are required with
the comprehensive knowledge and competency in
financial and non-financial areas. ICMA Pakistan is
just the Institute to teach you these skills. Presently,
the Institute has more than 7,000 members. These
members are serving on senior management positions
such as CEOs, CFOs, COOs, CIAs, Company
Secretaries, Financial Analysts, Public Practitioners,
Management Consultants, etc. Apart from high
demand in the corporate sector, the CMA qualification
from ICMA Pakistan provides opportunity to its alumni
and members to practice the profession.
President’s Message
The Institute supported formation of international and regional associations and got the honor of
becoming their founding member. The Institute has a membership of International & Regional
accounting associations such as International Federation of Accountants [IFAC], Confederation of
Asian and Pacific Accountants [CAPA] and South Asian Federation of Accountants [SAFA]. ICMA
Pakistan is also the only participant of International Integrated Reporting Council in Pakistan.
I welcome you onboard and look forward for you to be a valuable addition to the Institute’s highly
recognized members’ network adding value to the economy of our country.
Members of National Council
Zia ul Mustafa Awan, FCMACFO & Business Administrator,
Pakistan Expo Centres Private Limited
Abdul Wasey Khan, FCMAGroup Director Internal Audit,
FAV Group of Companies
Shehzad Ahmed Malik, FCMAChief Executive Officer,
Shehzad Malik Management Consultants (Pvt) Ltd
Muhammad Yasin, FCMAChief Financial Officer,
Jamshoro Joint Venture Limited,Associated Group
President Vice President Honorary Secretary Honorary Treasurer
M. Iqbal Ghori, FCMADirector Strategic Planning,
Sadaqat Ltd.
Member
Abid Lateef Lodhi, FCMAChief Executive Officer,
Central Power Purchasing Agency Guarantee Ltd.,Ministry of Energy, Government of Pakistan
Member
Ather Saleem Ch., FCMAMember
Anti-dumping Appellate Tribunal
Member
Ghulam Mustafa, FCMAChief Executive Officer,
Tariq Qazi Management Consultant
Member
Govt. Nominee
Iram Anjum KhanDeputy Auditor General (Policy),
Auditor General of Pakistan
Jameel Ahmad, FCMADeputy Governor,
State Bank of Pakistan
Govt. Nominee
Sumaira K. AslamAdditional Secretary/ DCCAO,
Cost Accounts Organization, Finance Division,Government of Pakistan
Govt. Nominee
Tahir Mahmood, FCMACommissioner (CLD) / SSD / PLAD,
Securities and Exchange Commission ofPakistan (SECP)
Govt. Nominee
03 ICMA Pakistan Prospectus 2019
Institute of Cost and Management Accountants of
Pakistan is an excellent place for learning, capacity
building and professional grooming. We make sure
that this learning should be imparted in a befitting
academic environment. For this purpose, we provide
best faculty and state of the art environment to
develop professional abilities and capabilities of
students. Besides this, we also provide the students
with certain “Distance Learning” options. We are
committed to educating tomorrow’s leaders and for
that we do not leave any stone unturned to provide
the best academic environment within our campuses
across the country. CMA qualification from ICMA
Pakistan will help you rise to the top and will empower
you to become locally and globally competitive. I am
sure that the time spent at ICMA Pakistan and the
membership designations will make you a real
contributor towards the development of economy
of the country.
Executive Director’s Message
Branch Councils
UK Saudi Arabia UAE Australia
Peshawar Quetta Faisalabad Multan
Karachi IslamabadLahore
ICMA Pakistan Prospectus 2019
VisionTo be the Preference in
Value Optimization for Business.
MissionTo develop Business Leaders through impartingquality education and training in financial and non-financialareas to bring value addition in the economy.
Core Values
Competence
Innovation
Transparency
Professionalism
Ethics
A chartered institute of professional accountants and business leaders
International AffiliationsBeing a leading professional Institution of Pakistan, apart from performing due role within the country, ICMA Pakistanis contributing towards world economy which is in the phase of innovation and globalization. The Institute, whilerealizing its role towards global economy, supported formation of international and regional associations and gotthe honor of becoming their founding member.
The Institute has a membership of following International & Regional accounting associations and it is actively involvedin promoting the profession of accounting across the globe:
IFAC is the globalorganization for theaccountancy professiondedicated to serving thepublic interest bystrengthening the professionand contributing to thedevelopment of stronginternational economies.
IFAC comprises of 179members and associates in130 countries andjurisdictions, representingapproximately 2.5 millionaccountants in publicpractice, education,government service, industry,and commerce.
The Confederation of Asianand Pacific Accountants(CAPA) represents nationalprofessional accountingorganizations in the Asia-Pacific region. Today, CAPAhas a membership of 31accounting organizations in24 jurisdictions.
CAPA is by far the largestregional accountingorganization and itsgeographical reach spanshalf the globe.
SAFA is a forum ofprofessional accountancybodies and is committed toposition, maintain anddevelop the accountancyprofession in SAARC Regionand ensuring its continuedeminence in the world ofaccountancy; in the publicinterest and towards broadeconomic development ofthe region.
Presently, nine accountingbodies of SAFA representover 250,000 professionalaccountants.
Since 1974 Since 1980 Since 1984
InternationalFederation of
Accountants (IFAC)
Confederation ofAsian and Pacific
Accountants (CAPA)
South AsianFederation of
Accountants (SAFA)
The InternationalIntegrated ReportingCouncil (IIRC) is a globalcoalition of regulators,investors, companies,standard setters, theaccounting professionand NGOs.
The coalition is promoting communication aboutvalue creation as the nextstep in the evolution ofcorporate reporting.
The InternationalIntegrated Reporting
Council (IIRC)
Since 2018
ICMA Pakistan Prospectus 2019
Higher EducationCommission of Pakistan
For the purpose of employment and higher education, the Higher Education Commission of Pakistan
(HEC) recognizes the ICMA Pakistan qualification equivalent to Master's degree.
Recognized by Higher EducationCommission of Pakistan (HEC)
A chartered institute of professional accountants and business leaders
ContentsAbout ICMA Pakistan 01
Land your Dream Job with ACMA / FCMA 02
ACMA / FCMA with ICMA Pakistan 03
Never Put a Limit on your Dreams 04
CMA Competency Framework 05
Pathway towards ACMA/FCMA Designation 07
Education Methodology 11
Practical Corporate Training Program 23
Examination System 27
Management Accountants as Corporate Leaders 28
01 ICMA Pakistan Prospectus 2019
About ICMA Pakistan
More than 15,000 Students, 7,000 Members andthousands of professional linkages.
7,000Members
400Certified Directors
15,000Students
ICMA at a Glance
200Employees
10Education Campuses
200Faculty Members
1,200Employers
110Public Practicing
Firms
Presence in more than
40Countries
What is ACMA/FCMA?
Associate Cost and Management Accountant (ACMA) and Fellow Cost and Management Accountant (FCMA) aretwo levels of membership status of ICMA Pakistan.
The students, on qualifying examinations and meeting practical experience requirements, are awarded membershipof the Institute which is a professional and legal status to join the fraternity of Institute’s members. Valued andrespected, the designations next to your name convey to employers and society that you are the right businessleader who can steer the sustainable success of the organisation you work for.
ACMA/FCMA designations set our members apart from the rest. Our members enjoy recognition as forward thinking,financially qualified business leaders who are not only in high demand within the country but are also recognisedoutside Pakistan.
Land your dream job with ACMA/FCMA designation
02A chartered institute of professional accountants and business leaders
03 ICMA Pakistan Prospectus 2019
Whether you have Intermediate / A - Level (12 years of education), Graduation (14 years of education),
Post Graduation (16 years of education) or any other equivalent qualification recognized by HEC
and professional certification obtained from the IFAC member bodies given on the ICMA website,
you may join CMA Qualification at ICMA Pakistan to earn ACMA/FCMA designations.
ICMA Pakistan employs a dedicated team of professionals who will be with you at every step to
support and guide you towards your career success.
Top 6 reasons to acquire ACMA/FCMA Designation:
ACMA/FCMA with ICMA Pakistan
Flexiblestudy options
2
Earn well
3
Global recognition
4Enhance your
business expertiseand financial
acumen
5Employers
trustICMA Pakistan
6
Recognised byHEC & Government
of Pakistan
1
04A chartered institute of professional accountants and business leaders
Management Accountants join the world of professionals after they graduate and have numerous
career options available to them. Our members are leading in following roles, around the world:
Never put a limit on your dreams
Chief Executive Officer Chief Financial Officer Chief Operating Officer
Chief Internal Auditor Chief Project Officer Chief Cost Accounts Officer
Company Secretary Business Analyst Management Consultant
and many more
CMA Competency Framework
Management and Leadership:Qualified CMAs have diversified skills in the field of Management Accounting and Management. CMAs hold pivotalmanagerial positions in the corporate sector due to their competencies over the basic management functions, teammotivation, resources optimization, strategic goals achievement and risk management. Management and leadershipcompetency enables CMAs to:
Develop strategic goals aligned with the organization’s long-term plans and resources. Identify and focus on critical areas where risks arise and devise strategies to transform the threats into opportunities
and wipe out those risks. Think strategically and act proactively to meet organization needs under the Global Economic Challenges and
Competitions. Promote collaboration by unifying teams, setting common goals and incentivizing collaborative working. Devise policies, standards and procedures.
Governance, Laws and Ethics:The CMAs have assumed the role of business advisors who understand the dynamics of Laws, Governance andother regulatory directives.
These competencies are used byCMAs to help corporations runsmoothly on practical, ethical andlegal bases and establish a foundationfor continued growth and success byinteracting with regulators and otherstakeholders. By acquiringGovernance and Ethics competenciesCMAs can:
Manage corporate affairs toprotect long term interests of thestakeholders.
Analyze the impact of relevantlegislations, policies andprocedures on alternativebusiness decisions.
Liaise tax matters with taxauthorities within regulatoryframeworks to finalize tax liabilityin complex and other situations.
Comply with all commercial lawsto provide for standardization ofthe legal underpinnings ofbusiness transactions.
Ensure implementation ofCorporate Governance Practicesand Professional Code of Ethics.
Advise and report on all legalissues of organizations.
05 ICMA Pakistan Prospectus 2019
Business Acumen and Decision Making:CMAs provide necessary information to management for taking short and long term decisions in Corporate environment.These competencies give insight to analyse revenue channels, marketing activities, controlling, monitoring, budgetingand other financial decisions in order to find the most profitable business model by curtailing costs in an efficientmanner. The CMAs have competencies to:
Classify cost elements and align cost classification, costing methods and techniques to get maximum profit fromBusiness operations.
Evaluate decision alternatives using analytical techniques and make recommendations. Recommend to senior management and the board for best utilization of funds by analyzing different investment
alternatives using qualitative and quantitative techniques. Perform cost planning, analysis and evaluate performance management system on the basis of Financial and
non- Financial indicators. Define responsibility centers for achieving efficiency and effectiveness in business operations.
Reporting & Analysis:CMAs are expert in evaluating financial transactions from book keeping to reporting of financial statements as peraccounting and financial reporting standards. CMAs are proficient in analysis of financial statements for managementand external stakeholders and also depicting how a company is performing over a specific period of time. Underthe Reporting and Analysis Competency, CMAs learn to:
Support external financial reporting by implementing new accounting and reporting standards in correlation withthe local regulatory pronouncements.
Figure out appropriate treatment associated with unusual or complex transactions i.e., lease, goodwill, financialinstruments, group accounting and determine the resulting impact.
Implement accounting policies, in letter and spirit. Explicate the quantitative and qualitative characteristics of financial statements. Assist management in preparing consolidated statements of a single company and group of companies with
recommendations for adequate treatment of intercompany transactions and reporting. Comprehend social and environmental issues which are likely to be the most important to stakeholders and
report them in published accounts.
Technology and Innovations:To keep up with new technologies replacing many of the accounting skills traditionally in demand, CMAs need torefine and perfect their skills in a variety of areas. These skills enable the CMAs to analyze, design and operate theinformation system, develop and maintain its security, perform system audit and innovate easier and optimumbusiness solutions to align the organization’s data strategy to its business strategy in the digital era. Technology andInnovation competencies enable CMAs to:
Enhance business performance using technology to analyze data, to solve problems and bring innovation tobusiness operations and financial processes.
Assess the critical threats to technology and information systems and identify the optimum solutions to effectivelytackle such threats.
Transform and simulate the data using digital technologies to gain insights, support decision making and providealternate solutions.
Integrate the technology advancement with business life cycle and provide innovative solutions over each phaseof business cycle since business setup.
Ensure availability, utility, integrity, control and security of data.
06A chartered institute of professional accountants and business leaders
07 ICMA Pakistan Prospectus 2019
Start your journey whether you have Intermediate / A - Level Certificate / under graduate / post graduate degree or
professional certification of the IFAC member bodies.
ICMA Pakistan takes full account of the fact that people may want to commence/continue their studies at different points.
Hence, we have flexible entry routes for various academic backgrounds. Our expert team of professionals will assess your
previous qualification documents to guide you towards the most suitable entry route.
Pathway towards ACMA/FCMA designation
Entry Route
12 Years of Education
Level 1 Level 2
Operational
Managerial
Strategic
PracticalCorporateTrainingProgram
O1. Fundamentals of Financial Accounting
O2. Business Economics
O3. Business Communication andReport Writing
O4. Fundamentals of Management
O5. Business Mathematics & StatisticalInference
O6. Commercial Laws
M1. Fundamentals of Cost &Management Accounting
M2. Enterprise Management
M3. Management Information Systems
M4. Financial Accounting
M5. Management Accounting
M6. Corporate Governance,Business Laws & Ethics
S1. Advanced Financial Accounting &Corporate Reporting
S2. Audit & Assurance
S3. Business Taxation
S4. Strategic Management Accounting
S5. Strategic Financial Management
S6. Strategic Management
PM1. ERP Solutions & Audit Procedures
PM2. Management Reporting -IT Office Tools
PM3. Banking Operations
PM4. Practical Taxation
PM5. Business Laws Application
PM6. Communication Skills
08A chartered institute of professional accountants and business leaders
– Start your ACMA journey at Operational level 1 of CMA Qualification
– A-levels certificate holders may apply for waiver from following 3 courses subject to having studied and
passed relevant courses:
O1 - Fundamentals of Financial Accounting
O2 - Business Economics
O5 - Business Mathematics & Statistical Inference
– Intermediate certificate holders in Commerce may apply for waiver from O1 – Fundamentals of Financial Accounting
– Combine your studies with full-time/part-time employment in public/private sector
– Study at your own pace in a classroom or through distance learning
– Typically, students spend around 4 years to complete the qualification
Level 1 Level 2
Managerial
Strategic
M1. Fundamentals of Cost &Management Accounting
M2. Enterprise Management
M3. Management Information Systems
M4. Financial Accounting
M5. Management Accounting
M6. Corporate Governance,Business Laws & Ethics
S1. Advanced Financial Accounting &Corporate Reporting
S2. Audit & Assurance
S3. Business Taxation
S4. Strategic Management Accounting
S5. Strategic Financial Management
S6. Strategic Management
Entry Route
14 years of Education
– Graduates with 14 years education background in Commerce or Business Studies may further build
their business knowledge
– Start your ACMA journey at Managerial level 1 of CMA Qualification
– Get a head start in job market by boosting your degree with professional qualification
– Combine your studies with full-time/ part-time employment in public/private sector
– Study at your own pace in a classroom or through distance learning
– Typically, students spend around 2 years to complete the qualification
09 ICMA Pakistan Prospectus 2019
Level 1 Level 2
Managerial
Strategic
M4. Financial Accounting
M5. Management Accounting
M6. Corporate Governance,Business Laws & Ethics
S1. Advanced Financial Accounting &Corporate Reporting
S2. Audit & Assurance
S3. Business Taxation
S4. Strategic Management Accounting
S5. Strategic Financial Management
S6. Strategic Management
Entry Route
16 years of Education in Commerce / Business Studies
Fast track your route towards CEO/CFO/CIA/CS with ACMA designation for Post Graduates with 16 years educationbackground in Commerce or Business Studies
– Start your ACMA journey at Managerial level 2 of CMA Qualification– Get a head start in job market by boosting your degree with professional qualification– Combine your studies with full-time/part-time employment in public/private sector– Study at your own pace in a classroom or through distance learning– Typically, students spend around 1.5 years to complete the qualification
Level 1 Level 2
Managerial
Strategic
M1. Fundamentals of Cost &Management Accounting
M2. Enterprise Management
M3. Management Information Systems
M4. Financial Accounting
M5. Management Accounting
M6. Corporate Governance,Business Laws & Ethics
S1. Advanced Financial Accounting &Corporate Reporting
S2. Audit & Assurance
S3. Business Taxation
S4. Strategic Management Accounting
S5. Strategic Financial Management
S6. Strategic Management
Entry RoutePost Graduates with Non-Commerce /
Business Studies Education
10A chartered institute of professional accountants and business leaders
Want to change your career or run your own business? CMA Qualification is your route to the board room
– Start your ACMA journey at Managerial level 1 of CMA Qualification subject to attending three weeks classes of Basic Accounting Course (BAC)– Get a head start in job market by boosting your degree with professional qualification– Combine your studies with full-time/part-time employment in public/private sector– Study at your own pace in a classroom or through distance learning– Typically, students spend around 2 years to complete the qualification
Professional Qualification Holders
Already have a professional qualification?
ICMA Pakistan recognises and has agreements with Professional bodies locally & internationally. Graduates and studentsof local and international professional bodies may visit ICMA Pakistan website: www.icmap.com.pk or the nearest campusfor details of applicable entry routes and waivers in courses.
11 ICMA Pakistan Prospectus 2019
Education Methodology
ICMA Pakistan offers flexible
study options to suit student's lifestyle
and commitment. A student can
Study full time or part time at
any ICMA Pakistan campus (morning
and evening classes are available), or Study through 'Distance Learning Programme'
In order to support students, faculty at ICMA Pakistan
include in their lectures:
Learning Methodology
Classroom Lectures Presentations Case studies Review of Journal Updation of Laws E-Learning
Role Model sessions Group Discussions Situation Analysis Industry visits Guest Speeches Executive Coaching
12A chartered institute of professional accountants and business leaders
Syllabus Outline
Operational Level-1
O1 – Fundamentals of Financial Accounting
Part Syllabus Content Area Weightage
A 10%Conceptual, System and Regulatory Framework1. Accounting Nature and Objectives2. Introduction to Financial Accounting
3. Accounting Regulatory Framework4. Accounting Concepts and Conventions
B 50%
Accounting Systems and Accounts Preparation5. Source Documents and Books6. Double Entry and Ledger accounting7. Trial balance and Financial statements8. Accruals and prepayments9. Tangible non-current assets10. Intangible non-current assets11. Bad debts and allowances for receivables12. Provisions and Contingencies
13. Accounting for Inventories14. Accounting for Sales Tax15. Accounting for Payroll16. Bank Reconciliations17. Control accounts18. Correction of Errors
C 40%
Final Accounts19. Sole traders' accounts20. Company accounts21. Manufacturing accounts22. Incomplete records
23. Income and expenditure accounts24. Statements of cash flows25. Financial Ratios
Total 100%
O2 – Business Economics
Part Syllabus Content Area Weightage
A60%
1. Organization2. Return to Shareholders3. Demand & Supply Analysis4. Price Elasticity5. Price Instability and Government Measures
6. Cost Behavior7. Profit Maximization8. Competition, Market Effects and
Government Measures
B 40%
9. Functions of the Financial System10. Domestic Institutions and Markets11. Foreign Exchange Markets
12. Macroeconomic: Trade Cycle13. Macroeconomic: The Role of Government14. International Context
Total 100%
Following are subject wise indicative grids and weightage, detailed contents of each course may be viewed
on ICMA Pakistan website at https://www.icmap.com.pk/syllabus.aspx
13 ICMA Pakistan Prospectus 2019
O3 – Business Communication and Report Writing
Part Syllabus Content Area Weightage
A 35%
Fundamentals of Effective Business Communication1. Introduction2. Communication in Organization3. Oral Communication
4. Interpersonal Communication (IPC)5. Written Communication
B 40%Crafting Business Messages, Reports, Proposal and Memos6. Business Letters 7. Report Writing
C 15%Case Analysis and Presentation Skills8. Case Method of Learning 9. Presentation Skills
Total 100%
D 10%Employment and Group Communications10. Employment Communication 11. Group Communication
Operational Level-2
O4 – Fundamentals of Management
Part Syllabus Content Area Weightage
A 30%Introduction to Management1. Management Definition and Functions2. Basics of Management Process
3. Key concepts in Management
B 55%
Management of Relationships4. Control5. Leadership and Motivation6. The financial function; conflict
7. Negotiation and communication8. Culture
C 15%Global Business Environment9. Social, political and economic context10. Type of organization
11. Governance and Regulation
Total 100%
14A chartered institute of professional accountants and business leaders
O5 – Business Mathematics & Statistical Inference
Part Syllabus Content Area Weightage
A 40%
Business Mathematics1. Basic Mathematical Techniques2. Formulae and Equations3. Derivatives
4. Compounding and Discounting5. Basic Investment Appraisal
B 60%
Statistics and Statistical Inference6. Data and Information7. Collection and Presentation of data8. Averages9. Dispersion10. Correlation and Linear Regression11. Index numbers12. Probability
13. Normal distribution14. Estimation & Testing15. Sampling & Sampling Frequency
Distribution16. Forecasting - Time series
Total 100%
O6 – Commercial Laws
Part Syllabus Content Area Weightage
A 10%1. Introduction to Legal System of Pakistan
B 70%2. The Contract Act, 18723. Sales of Good Act, 1930
4. Partnership Act, 19325. Negotiable Instrument Act, 1881
Total 100%
C 20%6. PPRA Ordinance, 20027. PPRA Rules, 2004 (Public Procurement Regulatory Authority)
15 ICMA Pakistan Prospectus 2019
Managerial Level - 1
M1 – Fundamentals of Cost & Management Accounting
Part Syllabus Content Area Weightage
A 20%
The Nature, Source and Purpose of Management Information1. Introduction to costing and
performance measurement2. Introduction to management accounting
3. Sources of data4. Cost classification5. Cost behavior
B 20%Cost Accounting System6. Accounting for Materials7. Accounting for Labour
8. Accounting for Overheads
Total 100%
C 40%
Cost Accounting Techniques and Methods9. Absorption and marginal costing10. Job, Batch and Service costing11. Process costing
12. Process costing, joint productsand by-products
D 20%Standard Costing13. Standard costing 14. Variance analysis
M2 – Enterprise Management
Part Syllabus Content Area Weightage
A 35%
Operations Management1. Operations management and its
importance for Management Accounting2. Types of production3. Plant maintenance
4. Production planning and control5. Productivity and Efficiency Evaluation6. Quality Management
B 20%Human Capital Management7. Human Resource Management 8. Human Resource Practices
Total 100%
C 25%
Marketing Management9. Marketing and business strategy10. Marketing plans, branding and
communications
11. Developments in marketing
D 20%Enterprise Management12. Enterprise performance management 13. Performance measurement tools
16A chartered institute of professional accountants and business leaders
M3 – Management Information Systems
Part Syllabus Content Area Weightage
A 50%
Information Systems1. Emerging Technology in E-Business2. Infrastructure and Operations3. Information and Databases
4. Systems acquisition / developmentprocess
B 50%
IT Audit5. The Process of Auditing Information
Systems6. Governance and Management of IT7. Auditing Infrastructure and Operations
8. Auditing Systems Acquisition /Development Process
9. Information Security Management (ISM)10. Business Continuity and Disaster Recovery
Total 100%
Managerial Level - 2
M4 – Financial Accounting
Part Syllabus Content Area Weightage
A 5%Regulatory and Conceptual Framework1. The regulatory framework 2. The Conceptual Framework
B 85%
Single Company Financial Accounts3. IAS 1 (Revised) Presentation of Financial
statements4. Reporting Financial Performance5. Other Reporting6. Accounting for non-current assets7. Intangible non-current assets
8. Impairment of Assets9. Leases10. Statements of Cash Flows11. IAS 2 Inventories and Short term WIP12. Share Based Transactions and Financial
instruments
Total 100%
C 10%Accounting for Taxation13. IAS 12: Income taxes
17 ICMA Pakistan Prospectus 2019
M5 – Management Accounting
Part Syllabus Content Area Weightage
A 15%Forecasting and Budgeting Techniques1. Forecasts 2. Budgeting
B 15%Standard Costing and Variance Analysis3. Standard Costing 4. Variance Analysis, Interpretation and Profit
Reconciliation
Total 100%
C 20%
Project Appraisal Methods5. Capital Investment decisions6. DCF techniques of investment appraisal7. Taking account of taxation and inflation
8. Additional aspects of investment decisionmaking
D 15%Cost Analysis9. Break Even Analysis 10. Limiting factor Analysis
E 20%Modern Costing Techniques11. Marginal Cost Analysis12. Activity Based Costing
13. Throughput and Back flush Accounting14. Environmental costing
F 15%
Managing Short-term Finance15. Working Capital Management16. Cash flow forecasts17. Cash Management
18. Receivables & Payables Management19. Inventory Management
18A chartered institute of professional accountants and business leaders
M6 – Corporate Governance, Business Laws & Ethics
Part Syllabus Content Area Weightage
A 60%
Companies Act, 2017, Relevant Rules and Regulations1. Companies Act, 20172. Companies (Incorporation)
Regulations, 20173. Securities Act 2015
4. Single Member Companies Rules 20035. Listed Companies Corporate Governance
Regulations, 2017
B 10%Special Companies6. Modaraba Companies and Modaraba
(Floatation and Control) Ordinance, 19807. Non Banking Finance Companies
Total 100%
C 15%
Other Laws, Regulations and Professional Ethics8. Companies (Issuance of Capital)
Rules, 19969. Companies Share Capital (Variation Rights
and Privileges) Rules, 200010. Companies (Buy-back of Shares)
Rules/ Regulations
11. Public Offering Regulations, 201712. Pakistan Stock Exchange Rule Book13. Anti-money Laundering Act, 201014. Professional Ethics
D 15%Secretarial Practices15. Company Secretary, Functions and
Responsibilities16. Meetings, Resolutions and E-filing
19 ICMA Pakistan Prospectus 2019
Strategic Level -1
S1 – Advanced Financial Accounting & Corporate Reporting
Part Syllabus Content Area Weightage
A 20%
Matters Related to Recognition and Measurement1. Substance over form2. Financial instruments3. Employee benefits
4. Share-based payments5. Asset valuation and Changing prices
B 30%
Group Financial Statements6. Introduction to group accounting7. Consolidated statement of financial position8. Consolidated statement of comprehensive
income9. IAS 27, IFRS 10, IFRS 3 (Revised),
IFRS 1310. Effect of Non-controlling interests
11. Acquisition of a Subsidiary during itsaccounting period
12. Consolidated Statement of comprehensiveincome
13. Consolidated Statement of changes inEquity
14. Associates and Joint ventures
Total 100%
C 25%Complex Group Topics15. Changes in group structures16. Complex group structures
17. Foreign currency18. Group statements of cash flows
D 15%Performance Reporting19. Ratios and trend analysis20. Earnings per share IAS 33
21. Segment reporting IFRS 8
E 10%External Reporting22. Advancement in Financial Reporting 23. Advancement in Non-Financial Reporting
20A chartered institute of professional accountants and business leaders
S2 – Audit & Assurance
Part Syllabus Content Area Weightage
A 10%1. Audit framework and Regulation
B 55%
2. Planning and risk assessment GeneralPrinciples and Responsibilities
3. Risk Assessment and Response toAssessed Risk
4. Internal Control5. Internal Audit6. Audit Evidence7. Collecting Audit Evidence
C 20%8. Using the Work of Others 9. Audit Conclusions and Reporting
D 15%10. Cost Audit
Total 100%
S3 – Business Taxation
Part Syllabus Content Area Weightage
A 60%Income Tax1. Income Tax Ordinance, 2001 2. Income Tax Rules, 2002
B 30%Sales Tax3. The Sales Tax Act 19904. The Sales Tax Rules 2006
5. Sales Tax Special Procedures Rules 2007
Total 100%
C 10%Indirect Tax6. Federal Excise Act and Rules
21 ICMA Pakistan Prospectus 2019
Strategic Level -2
S4 – Strategic Management Accounting
Part Syllabus Content Area Weightage
A 25%
Cost Planning, Analysis and Techniques1. Cost Planning2. Cost Analysis3. Cost Management Techniques
4. Externally Oriented Cost ManagementTechniques
B 40%
Pricing and Product Decisions5. Relevant Costs6. Short-term decisions7. Risk and uncertainty8. Linear programming: the graphical method
9. Linear programming: the simplex method10. Multi-product breakeven analysis11. Pricing decisions and pricing strategies
Total 100%
C 35%
Performance Management and Responsibility Centre12. Budgetary Control13. Performance Evaluation
14. Measuring performance in Divisionalisedbusinesses
15. Transfer pricing
S5 – Strategic Financial Management
Part Syllabus Content Area Weightage
A 10%Formulation of Financial Strategy1. Objectives of organizations2. Constraints on Financial Strategy
3. Forecasting and Analysis4. Financial Strategies
B 45%
Financing Decisions5. Equity finance6. Debt finance7. Leasing
8. The cost of capital9. The capital structure10. Treasury Management
Total 100%
C 45%
Investment Decisions and Project Control11. Investment appraisal techniques12. International investment13. Specific investment appraisal scenarios
14. Control of investment projects15. Business valuations16. Amalgamations and restructuring
22A chartered institute of professional accountants and business leaders
S6 – Strategic Management
Part Syllabus Content Area Weightage
A 15%
Strategic Management and Competitive Environment1. Nature and Scope of Strategic Management2. Strategy: Introduction, Levels and
Concepts
3. General and Competitive environment
B 15%Interacting with the Competitive Environment4. Business strategy and strategy
development5. Stakeholders and corporate objectives
Total 100%
C 45%
Strategy Development and Strategic Options6. Strategic decision making7. Resource audit8. Generic strategies9. Directions and methods of growth
10. Evaluating strategic options11. Strategic marketing12. Information systems and strategy13. Issues in strategic management
D 10%Change Management14. Organizational change 15. Implementing change
E 5%Implementing Strategic Plans16. Strategic control
F 10%Risk Management17. Risk Management
Practical Corporate Training Program
23 ICMA Pakistan Prospectus 2019
PM1 – ERP Solutions & Audit Procedures
Part Syllabus Content Area Weightage
A 75%1. Overview of ERP 2. ERP-Financials
B 25%3. Audit Procedures
Total 100%
PM2 – Management Reporting – IT Office Tools
Part Syllabus Content Area Weightage
A 60%
MS Excel1. Getting Started with Microsoft Office Excel2. Performing Calculations3. Modifying a Worksheet4. Formatting a Worksheet5. Printing Workbooks6. Managing Workbooks7. Working with Functions8. Working with Lists9. Analyzing Data
10. Visualizing Data with Charts11. Using Pivot Tables and Pivot Charts12. Working with Multiple Worksheets and
Workbooks13. Using Lookup Functions and Formula
Auditing14. Sharing and Protecting Workbooks15. Automating Workbook Functionality16. Forecasting Data
B 20%
Microsoft Word17. Getting Started with Word18. Formatting Text and Paragraphs19. Working More Efficiently20. Managing Lists21. Adding Tables22. Inserting Graphic Objects23. Controlling Page Appearance24. Preparing to Publish a Document25. Organizing Content Using Tables and
Charts26. Customizing Formats Using Styles and
Themes27. Inserting Content Using Quick Parts
28. Using Templates to Automate DocumentFormatting
29. Controlling the Flow of a Document30. Simplifying and Managing Long
Documents31. Using Mail Merge to Create Letters,
Envelopes, and Labels32. Manipulating Images33. Using Custom Graphic Elements34. Collaborating on Documents35. Adding Document References and Links36. Securing a Document37. Using Forms to Manage Content38. Automating Repetitive Tasks with Macros
24A chartered institute of professional accountants and business leaders
PM2 – Management Reporting – IT Office Tools
Part Syllabus Content Area Weightage
C 20%
MS PowerPoint39. Getting Started with PowerPoint40. Developing a PowerPoint Presentation41. Performing Advanced Text Editing
Operations42. Adding Graphical Elements to Your
Presentation43. Modifying Objects in Your Presentation44. Adding Tables to Your Presentation45. Adding Charts to Your Presentation
46. Preparing to Deliver Your Presentation47. Modifying the PowerPoint Environment48. Customizing Design Templates49. Adding Smart Art and Math Equations to
a Presentation50. Working with Media and Animations51. Collaborating on a Presentation52. Customizing a Slide Show53. Securing and Distributing a Presentation
Total 100%
PM3 – Banking Operations
Part Syllabus Content Area Weightage
A 15%1. General Banking Operations
Total 100%
B 30%2. Bank Financing 3. Islamic Banking
C 25%4. Import & Export Documentation 5. Consumer Financing
D 20%6. Compliance Requirements of State Bank of Pakistan
E 10%7. Modern Trends in Banking
PM4 – Practical Taxation
Part Syllabus Content Area Weightage
A 30%Taxation
Total 100%
B 40%Computation of Tax Liabilities
C 30%Filing of Tax Returns and Statements
25 ICMA Pakistan Prospectus 2019
PM6 – Communication Skills
Part Syllabus Content Area Weightage
A 50%Business Report Writing
Total 100%
B 50%Presentation Skills
PM5 – Business Laws Application
Part Syllabus Content Area Weightage
A 60%Corporate Laws1. Company's Registration2. Maintaining of Statutory Records
3. Filing of Statutory Returns and Forms
B
Total 100%
Other Laws and Procedures4. Social Security5. Employees Old Age Benefits (EOBI)6. PPRA Rules7. Human Resource (HR) Policies, Procedure and Rules
5%5%20%10%
26A chartered institute of professional accountants and business leaders
Examination System
27 ICMA Pakistan Prospectus 2019
Realizing the global challenges and to upgrade benchmarks of best practices as prescribed by International Federation
of Accountants (IFAC), the Institute being examining body reviewed its existing standards through a study on
examination administration. The question papers of all accounting courses are set in accordance with International
Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) as well as the Accounting and
Auditing Practices and Guidelines, issued by the professional bodies of Pakistan whereas courses related to Pakistani
laws and regulations i.e., Commercial Laws, Corporate Governance, Business Laws & Ethics and Business Taxations
are examined by considering all updated laws and pronouncements issued by national regulatory bodies. Question
paper patterns can be viewed at https://www.icmap.com.pk/cma_pattern_structure_question_paper.aspx. Passing
percentage in the examination of each course is 50%.
Examination of nine (9) courses upto Managerial Level-1 and all six modules of Practical Corporate Training Program
are Computer Based Examination [CBE] based on Multiple Choice Questions (MCQs), Numerical Assessment
Questions (NAQs) and Descriptive Assessment Questions (DAQs) and other nine (9) courses from Managerial Level-
2 to Strategic Level-2 are written examinations comprised of short answers, case studies, descriptive and objective
testing etc. Examinations are conducted four times yearly in following months:
Computer Based Examinations:
In March, June, September and December.
Written Examination:
In February, May, August and November
Recognition for Passing Examinations
Upon passing the prescribed examinations, the following certificates are awarded by the Institute:
a) CMA Operational Level Certificate is awarded to those students who pass all the courses
up to Operational Level-2
b) CMA Managerial Level Certificate is awarded to those students who pass all the courses
up to Managerial Level-2
c) CMA Strategic Level Certificate is awarded to those students who pass all the courses up to
Strategic Level-2
d) CMA Practical Corporate Training Certificate is awarded to those students who pass all the courses
up to Strategic Level-2 and applicable modules of practical
Corporate Training.
e) CMA Final Certificate is awarded to those students who pass all courses
up to Strategic Level-2 and applicable modules of practical
Corporate Training.
Management Accountants as Corporate Leaders
Muhammad Shahzad Khan SherwaniGM, Finance and AdministrationPunjab Municipal Development Fund Company
It is my honour that I have studied from the esteemed Institution - ICMA Pakistan and it is also a
great honour for me that the institute recognised my high achievement in studies by awarding me
with D.R. PATTON Gold medal. The Institute equipped me with the latest skills which encourages
me towards achieving milestones in my practical life in corporate sector, public sector and with
donor agencies. Based on my wonderful experience, I wish for the mother institution - ICMA Pakistan
to grow with leaps and bounds to serve the future generations.
For professionals, especially related to management and finance, working for good organizations
and to be able to add value in a conducive work environment is probably a very common sole
objective. I am one of those lucky ones who achieved this very early and realized that all this is just
a baseline and there's a lot more which we need to do in order to justify our very existence. Having
a holistic view of the society, and the world we are living in, and positioning one's own self accordingly,
is of utmost importance in this regard. Try to look beyond the boundaries of home-office-home
circle and live your life at full multi-faceted potential with full energy, zeal and fervour.
M. Amir Afzal RanaGM Systems & Audit
Beacon House Group
28A chartered institute of professional accountants and business leaders
29 ICMA Pakistan Prospectus 2019
I honestly believe that I wouldn't be where I am today without my CMA qualifications. It proved to
provide an exciting professional career even with a very humble educational, financial and family
background. After 20 years of qualification, I say with all my honesty that ICMA Pakistan is the only
institute which has created that many success stories and changed lives of thousands of qualified
members and their families. Long Live ICMA Pakistan.
Abdul KhalilChief Financial OfficerLahore Knowledge Park Company
For me, ICMA Pakistan is the gateway to the world of leadership where I started my career in
Accounting & Finance and later achieved the highest prestige of this profession to become the CFO
of a listed Company. ICMA Pakistan empowered me enough with the confidence to go even beyond
to become head of sales department of different segments of a large organisation.
With the rapid and diversified evolution of global business scenarios, the need for effective business
leaders is felt more than ever before. With its vision and commitment, ICMA Pakistan is producing
such business leaders who can assume any role in the organisation in order to steer it to the highest
level of success.
Adnan IqbalNational Manager
Buxly Retail & Non Retail BusinessBerger Paints Pakistan Limited
30A chartered institute of professional accountants and business leaders
ICMA Pakistan qualification provided me a head start in my professional career by placing me at
a position ahead of the crowd. The qualification gave me enough potential to capitalize upon and
ensure smooth sailing throughout my career. I feel proud and honored in being part of this fraternity.
Ghulam AbbasChief Financial Officer
Panther Tyres Limited
CMA as a qualification has lead to sustainable growth and prosperity in my career. Apart from
accounting and finance knowledge, ICMA Pakistan has given me a broad understanding of business
and economic environment thus providing the right blend of skills and knowledge to successfully
play my role as the CEO.
Aftab Q. MunshiChief Executive OfficerAL Habib Capital Market
31 ICMA Pakistan Prospectus 2019
It gives me utter satisfaction and elation to be the youngest female CEO of a public sector organization
in urban transport of Pakistan that is simply owing to the unmatched qualification I attainted at
ICMA Pakistan. Notably, the exquisite profession of accountancy provides auspicious avenues for
females to perform their crucial role in strategic planning as well as in robust development of the
country. For students I believe that once you make a firm decision, the universe conspires to make
it happen and for accomplishment, strive to set priorities for maintaining perfect work life balance
to embark on the path of unparalleled progress.
Mariam KhawarChief Executive OfficerLahore Transport CompanyGovernment of Punjab
Choosing Accountancy Field and specially joining ICMA Pakistan was one of my best decisions in
life. ICMA Pakistan is not only the best education institute but a family. After 14 years of passing
final exams, ICMA Pakistan is still providing best learning opportunities and helping for career growth.
Today I am a proud ICMAPIAN who is serving his nation through professionalism, dedication and
honesty which I had learned from my prestigious institute. Thank you ICMA Pakistan for realising
my dreams.
Muhammad Aamir ZakeeChief Financial Officer &
Company SecretaryWater and Sanitation Services
Company, Abbottabad
32A chartered institute of professional accountants and business leaders
Accounting is an exciting and noble profession. The professionalism and honesty of accountants
make people trust the financial picture of a single company and the whole economy. My message
is to stay true to your profession and never stop growing and learning. Competence, honesty and
a professional attitude will take you to your goals in life and earn you professional respect, which I
believe is the ultimate goal.
Abid HussainExecutive Director
Securities and ExchangeCommission of Pakistan
Shaham AhmedHead of AccountsPak Suzuki Motor Company Limited
“CMA qualification - a qualification of choice” opened many doors for me in my career. After gaining
a prestigious and highly respected qualification, I can confidently quote from my own experience
that you can work at the highest levels of accountancy, finance or business not only locally but
internationally. Today, I am leading accounts department of one of the biggest manufacturing
industries based on my CMA qualification from ICMA Pakistan.
33 ICMA Pakistan Prospectus 2019
It's a matter of great honour and pride for me to be a member of ICMA Pakistan. The knowledgeand skills imparted by ICMA Pakistan through rigorous study courses and practical trainings boostedmy confidence and professional competence to successfully handle the challenges of senior positionsin finance services of the government.
I'm incharge of Military Finance Wing which deals with financial matters of Ministry of Defence,Ministry of Defence Production, all Service Headquarters (i.e. GHQ, NHQ & AHQ) and other defencerelated establishments like PoF, Wah, PACB, Kamra and HIT, Taxila.
Farzand Ali AdilAdditional SecretaryMilitary Finance (BPS-21)Ministry of Finance,Government of Pakistan
I am proud to be a CMA as I contribute in professional life towards my organization due to skills Ilearned. Some examples of the tasks I am incharge of are:
Re-organized the company structure and improved systems by the identification of problemsand advising the solutions
Build and maintain effective controls over the financial systems of the organization Work for the community by involvement in social networking
It is indeed a right time to be a Management Accountant.
Abdul ShakoorGM Finance
Haroon Fabrics (Pvt) Limited
34A chartered institute of professional accountants and business leaders
Achieving the hard target is a lifetime joy. Being CMA is your complete introduction. The three letters
“CMA” instantly describe yourself, that you are intelligent, hardworking, trustworthy, professional
and ethical. You serve the society by safeguarding it on economic front and enhancing value addition
of business. I am holding the office of Company Secretary of a listed company. My responsibility
is to keep my company a responsible corporate citizen. Being CMA, I am well equipped with required
skills and knowledge to smartly manage my responsibilities and earn respect for my profession.
Sehrish IshtiaqCompany Secretary
NetSol Technologies Limited
Islamabad CampusICMA Pakistan Building, Plot No. 16,
Sector H-9, Islamabad.Tel : +92-51-9265213, +92-51-9265215-18
(Ext:103-106), UAN 051-111 262 092,Cell: 0312-9650859, Fax: 051-9265212E-Mail: admissions.nr@icmap.com.pk
Quetta CampusICMA Pakistan Campus
Pearl Institute ofManagement &
Information Technology,Alamdar Road, Quetta
Cell: 0300-8389748,Tel: qut@icmap.com.pk
Multan CampusICMA Pakistan BuildingICMAP Street, Shalimar Colony, Bosan Road, Multan.Cell: 0300-7304530, Tel: +92-61-9330482E-Mail: mul@icmap.com.pk
Faisalabad CampusICMA Pakistan Campus335-B People's Colony No.1,Off Satiana Road, Faisalabad.Tel: +92-041-9220103, 9220151-52,E-Mail: fsd@icmap.com.pk
Peshawar CampusICMA Pakistan Campus,
House No. 15-B(1), Old Jamrud Road,University Town Peshawar
Tel: +92-91-9216068, +92-91-9216213,Cell: 0333-5962790,
E-Mail: psw@icmap.com.pk
Lahore CampusICMA Pakistan Building 42,Ferozepur Road, Lahore, Pakistan.Cell: 0332-4455890 &0320-4455890Tel: +92-42-99214695Fax : 042-99214699.E-Mail: admissions.cr@icmap.com.pk
Main Campus – KarachiNorth Nazimabad CampusICMA Pakistan Campus, C-19, Block-D,Near Five Star Chowrangi, North Nazimabad, Karachi.Cell: 0311-8956968, Tel: +92-21-99333254E-Mail: admissions.nnc@icmap.com.pk
Gulshan-e-Iqbal, ICMA Pakistan BuildingST-18/C, ICMAP Avenue, Block 6,Gulshan-e-Iqbal, Karachi 75300,Cell: 0334-3103198, Tel: +92-21-99243598,Ext: 208, 209, E-Mail: admissions.sr@icmap.com.pk
Soldier Bazar Campus, ICMA Pakistan BuildingPlot No. 36/41, Hussain Shah Shaheed Road,Soldier Bazar, Karachi - 74400. Tel: 0332-2327380,E-Mail: admissions.sr@icmap.com.pk
Hyderabad CampusPlot # B1-8/34, Hyderabad Railway Employees CooperativeHousing Society (HRECHS), Auto Bhan Road,Unit # 2, Latifabad, Hyderabad.Cell: 0334-2889972 & 0335-2889972Tel: +92-22-3821321-23, E-mail: hyd@icmap.com.pk
top related