ICMAP Launches Syllabus 2016

Lahore : The Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) has announced Syllabus 2016 for its students in line with best practices of International Federation of Accountants (IFAC). The Syllabus 2016 has been approved by the National Council of the Institute.

While announcing the new Syllabus, ICMA Pakistan’s President, Muhammad Iqbal Ghori told that being the sole regulator of cost and management accounting profession in Pakistan, the Institute is responsible to continuously update its curriculum to equip management accountants with desired skills and knowledge in accordance with the emerging global business challenges. Over the last few years, new methodologies, inventions and practices surrounding the science of management accounting have not only enhanced the role of profession but high expectations from management accountants have increased reliance for overall success.

In his brief statement, he emphasized that the revision of Syllabus was sine-qua-non and need of time for developing competency in management accountants with special reference to planning, controlling, pricing, audit and risk and business strategy. The new Syllabus covers in-depth knowledge of economic factors that have direct impact on business performance, amidst hope and uncertainties, in which new course contents have been added and existing outlines tailored to enhance decision making abilities of graduates to maximize the wealth of shareholders and benefit the society at large in today’s highly regulated and risk-based environment, he said.

The new syllabus has four qualification levels viz. (1) Fundamental Level; (2) Graduation Level; (3) Professional Level and (4) Chartered Level and shall become applicable from FALL 2016 session. Likewise in the past, the Syllabus has varied entry routes for prospects with different education backgrounds to join professional qualification of management accounting. At the higher level, advance courses on strategic management, financial management, risk management, corporate governance and ethics have been introduced. The Syllabus also introduces a capstone project to encapsulate overall learning and an online assessment in governance and professional ethics.

Apart from fostering efforts for enhancing global acceptance, the new Syllabus will support Institute’s stance for financial and cost audit rights as well as go a long way in benchmarking CMA education as the most sought after professional qualification in Pakistan and abroad.