S.KAMAL HAYDER KAZMI,
Research Analyst, PAGE
Dec 20 - 26, 2010
The Institute of Cost & Management Accountants of Pakistan (ICMAP) is the sole provider of cost and management accounting education, training and professional certification in Pakistan. The institute has earned reputation both nationally and internationally for its high standard in imparting education and testing. The institute has been meeting an important national human resource need through a steady flow of professional management accountants to occupy leading positions in the corporate world.
SCHEDULE OF FEE/SUBSCRIPTION 2010-11
DESCRIPTION RS. Annual Subscription for Fellow Member 3,000 Annual Subscription for Associate Member 2,500 Admission Fee for a Fellow Member 3,000 Admission Fee for an Associate Member 2,000 Certificate of Practice Associate/Fellow (New) 3,000 Certificate of Practice Associate/Fellow (Renewal) 3,000 Duplicate Membership Certificate/COP 2,500 Retired Member Annual 200 Retired Member Life - Time 1,000
The national council governs the affairs of ICMAP and it has twelve members out of whom eight are elected by members of the institute while the remaining four are nominated by the federal government.
The faculty comprises of professionals having rich business and teaching experience. They bring real life working environment to the classroom and make learning more meaningful and effective with the help of different teaching aids. The institute has adequate and well-equipped computer labs and libraries. ICMAP libraries contain thousands of books on accountancy and business related subjects. Members in Islamabad also have access to a digital library database, which gives online access to a number of periodicals, journals, and articles.
ICMAP has over 4000 members, who hold senior positions in trade, commerce, industry, and government in Pakistan and abroad. Currently, the number of active registered students is around 15000, which makes ICMAP one of the largest professional institutions in Pakistan.
Institute is a truly national level, having 12 centers throughout Pakistan. It also has one overseas examination centre, in Dubai, UAE.
The syllabus of ICMAP has been revamped in order to enhance the competence of the students enabling them to face the challenges of a dynamic business environment, confidently. Moreover, additional topics have been included in many subjects to bring them in line with the latest professional development.
In ICMAP, the study options suit to the needs of both full time and part time students. There are three main modes of study at ICMAP: coaching classes, correspondence course, and internet based distance learning programme (IBDLP).
Coaching classes are offered in two shifts: morning and evening. Students can pursue their studies as per their choice, convenience, and commitments. They can also apply for a change from coaching classes to correspondence course or IBDLP scheme or vice versa.
In institute, admission in any subject(s) of Stage-1 can be taken after passing the entry test or being eligible for exemption from it. Admission in any subject(s) of higher stage may be sought, if a candidate qualifies or gets exemption from the entry test and fulfils the eligibility requirements for the exemption from certain courses of study offered at a lower stage.
However, the students from overseas can take admissions in Stage-1 without passing the entry test. They are required to get themselves enrolled in correspondence course and complete 100 per cent assignments of each subject or get enrolled in IBDLP and pass at least one of two online tests in order to become eligible to appear in the examination.
Furthermore, the students, who have passed bachelor's or master's examinations from a recognised university, are eligible to apply for exemption according to the schedule of exemptions. In addition, they must have obtained at least 50 per cent marks in the specified subject(s) and these subject(s) shall cover 80 per cent course outlines of the institute subject(s) in which exemption is sought.
Exemption is granted on the basis of completed qualification. Those having passed only part(s) of various qualifications will not be allowed any exemption from any subject of the course.
Members of other professional accounting bodies, which are member of IFAC, may be considered for exemption on case by case basis. The students who will pass the examinations of all the stages (1 to 6) will be eligible to appear in the comprehensive examination. The CMA designation will only be awarded to those students who will pass examinations of all stages. The main objective of introducing this comprehensive examination is to ensure whether or not a student has acquired a desired level of competency in the prescribed subjects of syllabus. This is in accordance with the requirements of international federation of accountants (IFAC) and international education standards for professional accountants (IES-6).
To encourage the brilliant students, institute offers subsidies to position holders, at the time of admission as well as during their education. Moreover, proficiency awards are given to candidates in recognition of their outstanding performance in the examination.
Nowadays, professional education is necessary for every student. In Pakistan, professional institutes charge high fee, which a middle class student cannot afford to pay. ICMAP offers fee subsidy to those students who cannot afford to pay tuition fee. There is a scheme to offer Qarz-e- Hasanah whereby students are offered loan to be repaid when they start earning. ICMAP is proud to be one of the earliest institutes of management accountants in the world.