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ICMAB ANNUAL REPORT 2015
TABLE OF CONTENTSNotice of AGM 03About ICMAB 04Vision and Mission 06Past Presidents 07���������� ��������� 08President’s Statement 11
REPORT OF THE COUNCILCouncil and Committees 14Members’ Meeting 15Education, Examination and Student Affairs 18Partnering with Entrepreneurs and Employers 28Liaison with Government and Regulatory Bodies 31Seminar, Workshop and Training 36Governance and Administration 38ICT and Infrastructure 40Cost Audit and Professional Services Activities 43Research and Publications 47Role in National Economic Issues 48Representation in Regional and Global Forum 51CMA Branding and Image Building 58Media Coverage 61We Lost 63Members’ Update 64Branch and Chapter Activities 66Accounts and Others 89
AUDITED ACCOUNTSAuditors’ Report 96Balance Sheet 98Statements of Income and Expenditure 99Statements of Cash Flows 100Notes to the Accounts 101Executives of ICMAB 118
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This is for kind information of all respected members that the 44th Annual General Meeting of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) will be held on Friday, January 01, 2016 at 10.00 a.m. at ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka to transact the following businesses:
AGENDA
1. To confirm the minutes of the 43rd Annual General Meeting held on December 26, 2014.
2.
3. To appoint the Auditors for the year 2015-2016 and fix their remuneration.
4. To transact any other business with the permission of the Chair.
Md. Abdur Rahman Khan FCMASecretary
NOTICE OF THE44th ANNUAL GENERAL MEETING
NOTICE OF AGM
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and international outfit which started building
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 2015,
after a 43 years arduous journey, the chronicle of
success earned by our predecessors has brought
us to the place where we stand today.
Governance
The Institute is governed by a Council constituted
under the provision of The Cost and Management
Accountants Ordinance, 1977. The Council 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 executives.
The Institute
The 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.
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 member of leading
regional and global accounting bodies including
International Federation of Accountants (IFAC).
Legacy of the Institute
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
Global AffiliationICMAB is Member of following Global Bodies of
Professional Accountants:-
Strategic Partners:
ABOUT ICMAB
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ICMAB ANNUAL REPORT 2015
Corporate Headquarters Branches and Chapters
Head Office
Dhaka Branch Council
Khulna Branch Council
Comilla Coaching Centre
Chittagong Branch Council
Rajshahi Coaching Centre
Overseas Chapters
ICMA Bhaban, Nilkhet, Dhaka-1205,
9615477, 58616473 Fax: 88-02-58615703
E-mail: [email protected]
web: www.icmab.org.bd
ICMA Bhaban, Nilkhet, Dhaka-1205.
Tel: 9615460, 9611799, 9615477
E-mail: [email protected]
KDA Plot No. 24-25, Mozid Sorani Road
Sonadanga, Khulna.
Tel. : 041-722335, 01714 087417
E-mail: [email protected]
Comilla Victoria Government College
Comilla.
Tel: 081-73686, 01912729018
CMA Bhaban, House # 43, Road # 27
CDA R/A, Agrabad,
Chittagong. Tel : 031-727638, 01972-183535
E-mail: [email protected]
138, Islampur (Madrasha Moar)
P.O. Kazla, Boalia, Rajshahi.
Tel: 0721-751092 Cell: 01978 274324
E-mail: [email protected]
ICMAB Canada Chapter Council
ICMAB KSA Chapter Council
ICMAB UK Chapter Council
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ICMAB ANNUAL REPORT 2015
Vision
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.
Mission
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 take 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.
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ICMAB ANNUAL REPORT 2015
Late A. N. Hamidullah FCMA
(1972 - 74)
Late Ruhul Quddus FCMA
(1975 - 86)
Late Muzaffar Ahmed FCMA
(1992)
Mr. Muzaffar Ahmed FCMA
(1999)
Mr. Md. Ruhul Amin FCMA
(2005)
Mr. Mohammed Salim FCMA
(2014)
Mr. Satipati Moitra FCMA
(2006)
Late Zahir Uddin Ahmed FCMA
(2008 & 2011)Mr. A.B.M. Shamsuddin FCMA
(2009)
Prof. Mamtaz Uddin Ahmed FCMA
(2007 & 2012)
Mr. M. Abul Kalam Mazumdar FCMA
(2000)Mr. Md Abdul Aziz FCMA
(2001 & 2010)
Mr. Md. Abdur Rashid FCMA
(2003)
Mr. A.K.M. Delwer Hussain FCMA
(2004 & 2013)
Mr. Md. Ishaque FCMA
(1993)
Late Chowdhury Hafizur Rahman FCMA
(1994 & 1996)
Mr. Mohammed Mohiuddin FCMA
(1995)
Mr. Habibur Rahman FCMA
(1991 & 1997)
Mr. Md. Uttam Ali Miah FCMA
(1987 - 89)
Late Md. Nurul Hassan FCMA
(1990)
Mr. Rafiq Ahmad FCMA
(1998 & 2002)
PAST PRESIDENTS
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Mr. Abu Sayed Md. Shaykhul Islam FCMA is an Independent
Management Consultant and Financial Adviser to a number of
leading business houses of the country. Previously, he served the
Institute as Vice President (2009, 2014) & Secretary (2008). He was
also the Chairman of the Dhaka Branch Council in 1996. In his long
career, Mr. Shaykhul has worked in top level positions in leading
local business conglomerates including Square Pharmaceuticals,
Beximco, Partex Group and at overseas. He authored two books,
published a good number of articles in newspapers and professional
journals and presented papers in national and international
seminars and conferences. He is also a member of the Institute
of Internal Auditors and Institute of Management Consultants,
Bangladesh.
Mr. Arif Khan FCMA, MBA, CFA is currently a Commissioner
of Bangladesh Securities and Exchange Commission (BSEC).
Before joining the regulatory body, he served many national and
multinational companies at different capacities- the latest being
the Deputy Managing Director of IDLC Bangladesh Limited. He
was a member of the “Core Committee” of Bangladesh Bank
for developing guidelines for “Domestic Factoring Operation in
Bangladesh” and “Asset-Liability Management of NBFIs”.
Mr. Khan works as guest faculty in different educational and
professional institutions including ICMAB, BIBM, Department of
Finance and IBA of Dhaka University.
Mr. Khan did his MBA from IBA and CFA from CFA Institute, USA.
Mr. Jamal Ahmed Choudhury FCMA is working as Executive Director,
Finance and Accounts in Beximco Pharmaceuticals Limited. He has
wealth of experience as a professional accountant in national and
multinational companies. Mr. Choudhury takes keen interest in
education and research. He has been a part-time faculty in several
public and private universities for over a decade. He has to his credit,
a good number of publications in national and international journals.
He is a frequent contributor to the national dailies and writes on
business, economy and finance related issues. He was the Chairman
(2005) of Dhaka Branch Council and Member of the National Council
(2010-2013). He served the Institute as Secretary in 2014.
He obtained his post-graduation in Accounting from the University
of Dhaka and MBA from IBA.
PRESIDENT
VICE - PRESIDENT
VICE - PRESIDENT
COUNCIL AND OFFICE BEARERS
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ICMAB ANNUAL REPORT 2015
Mr. Md. Abdur Rahman Khan FCMA is currently working as Deputy
Secretary in Finance Division of the Ministry of Finance of the
Government of the Peoples’ Republic of Bangladesh. Before this,
he worked in income tax administration for about 22 years in home
and abroad. He started his taxation career in 1994 as an Assistant
Commissioner of tax and later on worked as Deputy Commissioner,
Joint Commissioner and Additional commissioner of Taxes. As
Additional Commissioner of Taxes, he worked as First Secretary (Tax
Policy) in the National Board of Revenue (NBR) and had been involved
in formulation of Finance Act 2014 and Finance Act 2015. Mr. Khan
worked as an International Adviser of the United Nations and as a
consultant of the World Bank during 2004-2011 periods.
After obtaining post graduation degree in Accounting from University of Chittagong Mr. Khan
obtained his second masters in Government Financial Management from University of Ulster, of
the United Kingdom. He has written a good number of articles on taxation in reputed professional
journals and presented number of papers in national and international seminars and workshops.
Mr. Khan has strong passion for teaching and is currently working as a part time faculty of Dhaka
University and BCS Taxation Academy. He also worked as a part time faculty in North South
University, Jahangir Nagar University, University of Development Alternative, Institute of Cost and
Management Accountants of Bangladesh (ICMAB), Financial Management Academy (FIMA) and
Bangladesh Public Administration Training Institute (BPTAC) etc.
Prof. Dr. Swapan Kumar Bala, FCMA has currently been working as
the Managing Director of Dhaka Stock Exchange Ltd. (DSE). Under his
management leadership, DSE has been demutualized in November
2013. He began his teaching career at Dhaka University as a Lecturer
of Accounting in 1991 and became Professor in 2011. He is an IFRS
professional from ICAEW (UK). In addition to B.Com. (Hons.) and M.Com.
in Accounting from Dhaka University, he completed M.Phil. equivalent
‘BIDS Advanced Course on Economics and Quantitative Techniques’ and
did his Ph.D. on Value Added Taxation from Dhaka University.
Dr. Bala is the current Chairman, SAFA Committee on NPOs and
Cooperative Sector. He was ICMAB’s Journal Committee Chairman
and Editor of the journal (March 2012 to Feb. 2013) and Dhaka Branch
Council Chairman (2008).
Prof. Bala is a Professional Member (CMA) of IMA (USA), an Associate Member of Virtual Institute,
UNCTAD and a life member of the Asiatic Society of Bangladesh. He has extensive Training of Trainers
experience. In the recent past, he represented ICMAB in ICAI’s 54th National Cost Convention (Jan.
2013; India) and Global Management Accounting Summit 2015 (July 2015; Sri Lanka) and represented
DSE in US SEC’s Program, World Exchange Congress, WFE’s Programs and APEC FRTI Regional
Seminar (USA, Qatar, South Korea, Brazil and Maldives). Dr. Bala also rendered professional services
to Bangladesh Bank, NBR, ISTCL and BICM. To his credit, he has 70 research articles, 9 research
monographs, 9 books, 1 study manual, 42 seminar papers and 9 entries in Banglapedia.
SECRETARY
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ICMAB ANNUAL REPORT 2015
Mr. A R M Nazmus SakibAdditional Secretary
Finance Division
Ministry of Finance
Government of Bangladesh
Mr. Md. Enamul HaqueAdditional Secretary
Ministry of Industries
Government of People’s
Republic of Bangladesh
Mr. Md. Aminul Islam KhanJoint Secretary
Ministry of Education
Government of Bangladesh
Mr. Mohammed SalimM. COM, DMS(UK), MBA(UK),
MINIA(AUS), FCMA
General Manager ( Finance )
Power Grid Company of
Bangladesh Ltd. (PGCB)
Mr. Md. Shawkat Ali WaresiAdditional Secretary
Ministry of Commerce
Government of Bangladesh
Mr. Munirul IslamM. COM., MBA, FCMA
General Manager, Human
Resources
Aristopharma Ltd.
Mr. Md. Mamunur RashidM. COM., AMCS, FCMA
Deputy Managing Director
Index Group of Companies
Mr. Muzaffar AhmedB. COM.(HONS), M.COM., FCS, FCMA
President and CEO
Credit Rating Information and
Services LTD.
Mr. M. Abul Kalam MazumdarMBA, FIMC, FCMA
Executive Vice-President & Director
Anlima Yarn Dyeing Ltd.
Prof. Mamtaz Uddin AhmedB. COM.(HONS), M.COM., FCMA
Director, MPA Program
Director, EMBA Program
Department of AIS
University of Dhaka
Mr. A.K.M. Delwer HussainB. COM.(HONS), M.COM.,
PGD(COM. SC.). FCMA
Chairman ( In-Charge )
Bangladesh Sugar & Food
Industries Corporation
Other Council Members
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ICMAB ANNUAL REPORT 2015
Dear Members,
2015 was another successful year for ICMAB.
We, the professional Accountants are working as
catalysts to the economic growth of the country
in one hand and playing vital role to protect public
interest on the other. The changed global socio-
economic scenario demands accountants to know
more, learn more and work more for the sustainable
growth of their respective organizations and the
country as a whole. Keeping this in mind, your
National Council has worked hard to improve the
quality of education, training and CPD programs
into international standard . We have joined hands
with CIMA, UK and other strategic partners. You
will be happy to know that the overall qualifying
rates in ICMAB’s examinations have been
increased remarkably; but we are not satisfied
with this and as such, we are continuously trying
to hire qualified and experienced teachers and
offering more special classes to keep up the
increasing trend. From July-December session
of this year, we have been able to introduce HSC
qualification for the entry level of CMA study. We
have also updated our syllabus in line with CIMA,
UK’s syllabus to facilitate our journey to meet the
demand of the day and achieve global CMA degree.
However, in order to compete globally, we have to
translate our knowledge and expertise into action
under high ethical values. We strongly believe that
after the 2008 global financial crisis accounting
outlook has been changed in manifold and as such,
we are now giving more emphasis on professional
ethics and public interest. Under the changed
global accounting outlook, it is time for us to know
and understand that accounting is a profession
with difference; because it is related to public
interest. In view of this, we have welcomed the
Government of Bangladesh (GoB) for enacting the
Financial Reporting Act, 2015 which, we believe will
play effective role to attract foreign investments,
boost capital market and also protect general
investors’ as well as public interest.
PRESIDENT’S STATEMENT
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ICMAB ANNUAL REPORT 2015
ICMAB strongly believes that FRA is a demand of
time to ensure transparency, accountability and
good governance in the public sector and corporate
world. It has rightly defined CMAs as “Professional
Accountants” and ICMAB as “Professional
Accounting Body”. It has also included Cost and
Management Audit as an audit program. ICMAB
has also been included in the Financial Reporting
Council. So, it is now our duty to act more
responsively to protect public interest balancing
between our performance and conformity. Under
the changed accounting outlook, while performing
our duties, we have to draw a line between right
and wrong and we must always do the right.
The National Board of Revenue has also
acknowledged the role of CMAs in revenue
collection of the government and you have seen
that high officials of NBR including its Chairman
have attended various budget and tax related CPD
programs held at ICMAB in 2015. Besides, CMAs
have also been authorized to certify the Transfer
Pricing Statements in the Finance Act 2015.
Last year, we took an initiative to install an ERP
to bring the whole activities of ICMAB under a
computer network system which will be launched
on 08 December 2015. Through this ERP our
members and students will get the modern
facilities of on-line payments, registration,
communication etc.
In 2015, we have setup ICMAB Center for Cost Audit
and Management Consultancy at Room No. 303 of
ICMA Bhaban for providing institutional support to
the practicing CMAs which is another milestone to
move further one step forward. We have also set
up the similar center at CMA Bhaban, Chittagong.
As part of ongoing activities, your Council has
undertaken a program to continuously develop
and adopt Bangladesh Cost Accounting Standards
(BCAS) and in line with this 12 (twelve) more
exposure drafts on BCAS will be released very
soon.
ICMAB’s most prestigious program of the year
was the SAFA International Conference 2015. It
was held on 18-19 October 2015 at Pan Pacific
Sonargaon Hotel, Dhaka hosted by ICMAB. Through
this conference ICMAB’s image has been increased
in manifold to the GoB, media and professional
accountants’ community of SAARC region. Your
President has attended 19th Conference of
Confederation of Asia and Pacific Accountants
(CAPA) held at Coex, Seoul, South Korea on 27-29
October 2015. Both the conferences gave emphasis
on sharing knowledge and experiences among the
professional accountants of the countries around
the world.
ICMAB is now working more seriously than
before on preparing its members to face the
new challenges of the corporate world and the
accounting and auditing regime of Bangladesh.
It is time for us to support the government in
bringing momentum in business and economic
activities and boosting capital market as well.
You know that the world is experiencing changes
in the types of business, everyday business
transactions and new dimensions are being
added to the business practices. In response to
these changes, new rules and regulations are
being implemented to have better control over any
malpractice in business. We have to understand
that a single mistake by accountants can make
huge damage to the capital market and the
general investors. ICMAB members should realize
this and always discharge their duties under
professional ethics and integrity. Let us just look
forward to make ICMAB as a trusted partner of
the businesses and the society as a whole.
Our vision is to develop CMAs as the first choice of
the employers in the field of financial services and
corporate management. In this perspective, we are
doing everything to develop the professional skill
and efficiency of our members and giving more
emphasis on high ethical values. Your Council just
needs your active participation and support for
achieving our common goals.
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ICMAB ANNUAL REPORT 2015
Report of the Council
YEAR 2015
In accordance with the provisions of CMA ordinance 1977, the Council is pleased to publish its Annual Report on the activities for the year 2015 together with the Audited Accounts of the Institute for the year ended June 30, 2015 to the honorable members of the Institute of Cost and Management Accountants of Bangladesh.
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Election of Office Bearers
As per the regulations of the Institute following
five member team was elected from amongst the
Councilors to run the Office for the year 2015:
Standing and Other Committees
As per Regulations the Council formed five
Standing Committees namely, Executive
Committee, Education Committee, Examination
Committee, Research & Development Committee
and Disciplinary Committee for the year 2015.
Further details of the Committees are given as
Annexure: 1.
The Council also approved 22 Other Committees
for smooth functioning of the activities of the
Institute. The details of the Other Committees are
given in Annexure: 2.
COUNCIL AND COMMITTEES
Branch Councils and Chapters
The election of the Branch Councils for Dhaka,
Chittagong and Khulna regions for the year 2015
and Chapter Council for Canada for the year 2015-
2016 were held in due course. Ten members for
each of Dhaka, Chittagong and Khulna Branches
and eight members for Canada Chapter Council
were elected by the members. The Council
nominated two members for each of the Branch
and Chapter Councils. Subsequently, the Councils
of the Branches and the Chapters elected their
Office Bearers which is given as Annexure: 3.
Council, Standing and Other
Committee Meetings
Six meetings of the Council and Six meetings of
the Executive Committee were held till November
30, 2015. Moreover, all the Standing Committees
excepting the Disciplinary Committee held several
meetings based on the operational requirement
throughout the period.
In addition to Council, Executive Committee
and Standing Committees, twenty two Other
Committees have held their meetings during the
period under review. These committees played
a very active role throughout the year and made
remarkable contribution in carrying out the overall
activities of the Institute. Many of their decisions
has been implemented while some are in progress.
Further details of the meetings including the
records of attendance by the Councilors in
Council, Executive Committee and Standing
Committeesare given in Annexure 4.
Mr. Abu Sayed Md. Shaykhul Islam FCMA President
Mr. Arif Khan FCMA Vice-President
Mr. Jamal Ahmed Choudhury FCMA Vice-President
Mr. Md. Abdur Rahman Khan FCMA Secretary
Prof. Dr. Swapan Kumar Bala FCMA Treasurer
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ICMAB ANNUAL REPORT 2015
MEMBERS’ MEETING
The 43rd Annual General Meeting
The 43rd Annual General Meeting of the Institute
of Cost and Management Accountants of
Bangladesh (ICMAB) was held on December 26,
2014 at ICMAB Ruhul Quddus Auditorium, Dhaka.
Mr. Mohammed Salim FCMA, President of the
Institute presided over the Meeting.
In his welcome speech, the President thanked
Almighty Allah for giving him opportunity to
serve the profession. He thanked the members
of the Council, Office Bearers, all members and
employees of the Institute for their co-operation
and support in successful completion of his tenure
as President of the esteemed professional body.
The president gave a brief description of the
achievement of the Council during 2014 under
his leadership. He particularly mentioned the
signing of MoU with CIMA and CIPFA; ICMAB’s role
in introducing FRA; Introduction of Bangladesh
Cost Accounting Standard; Building sustainable
partnership with the employers in private sectors;
Liaison with government and regulatory agencies;
Infrastructure development initiatives; ERP
implementation and successful representation
of the Institute in regional and global accounting
bodies. Referring development as a continuous
process, he hoped new council will take every
necessary steps to accomplish the unfinished
tasks and will carry forward the development
initiative undertaken by the 2014 Council.
Mr. Jamal Ahmed Choudhury FCMA, Secretary
of the Institute presented the Institute’s Annual
Report for the year 2014. Mr. Md. Abdur Rahman
Khan FCMA, Treasurer presented the Accounts
and Financial Reports of the Institute for the year
2013-2014.
As many as 12 members took part in the
discussions on various aspects of the Annual
Report and Audited Accounts of the Institute.
Mr. Abu Sayed Md. Shaykhul Islam FCMA and
Mr. Arif Khan FCMA, Vice President, replied the
questions raised by the members in the AGM.
Past Presidents, Council Members, 371 fellow and
224 associate Members of the Institute attended
and made the AGM a grand success.
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ICMAB ANNUAL REPORT 2015
Appointment of Auditors
The 43rd AGM appointed M/s. J.U. Ahmed & Co.,
Chartered Accountants, House # 170 (1st floor),
Lane-3, new DOHS, Mohakhali, Dhaka as Auditor
for the year 2014-15. The appointment of the
auditors for the year 2015-2016 and fixation of
their remuneration is placed herewith in this AGM
for your kind approval.
Discussion Meeting with the
Chairmen and Vice Chairmen
The newly elected office bearers of the Institute
held a meeting with the Chairmen and Vice
Chairmen of different Committees on February 22,
2015. President Mr. Abu Sayed Md. Shaykhul Islam
FCMA highlighted the role of the committees in
implementation of the work plan of the Institute.
He also sought suggestions for betterment of the
Institute and the profession. The Chairmen and
Vice Chairmen of different committees shared
their views on different professional issues and
reaffirmed their commitment to carry out their
assigned responsibilities. Vice Presidents Mr. Arif
Khan FCMA and Mr. Jamal Ahmed Choudhury,
FCMA, Secretary Mr. Md. Abdur Rahman Khan
FCMA, Treasurer and Prof. Dr. Swapan Kumar Bala
FCMA, were among others, present in the meeting.
Open Discussion on Professional
Matters
An open discussion on professional matters was
held at ICMAB on March 21, 2015. President of
the Institute Mr. A S M Shaykhul Islam FCMA
presided over the program. Vice President Mr.
Jamal Ahmed Choudhury FCMA, Secretary Mr. Md.
Abdur Rahman Khan FCMA, Treasurer Prof. Dr.
Swapan Kumar Bala FCMA, Past Presidents and
Council members and a large number of Fellow
and Associate members of the Institute attended
the program.
Members were appraised of the current and future
activities of the institute. Members actively took
part in the discussion and expressed their views
on different professional matters and ongoing
devlopment initiativesof the institute.
President, in his speech, expressed thanks to
the members for their active participation in the
discussion session. He assured that all relevant
opinions and suggestions shall be duly considered
in devising and implementing the activity plan for
the year 2015. The activity plan shall be revisited
if required, with due consideration of the opinions
and suggestions expressed in the meeting.
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ICMAB ANNUAL REPORT 2015
Open Discussion on issues
relating to Financial Reporting Act
The Institute organized an open discussion on 27
June, 2015 at the ICMAB Ruhul Quddus Auditorium
to exchange views on Financial Reporting Act with
the members of the Institute. The president of the
institute, Mr. A.S.M. Shaykhul Islam FCMA updated
the members with the initiatives undertaken by
the Institute to confirm the representation of
ICMAB in the proposed council under FRA. The
meeting was also informed that besides the
composition of the Council, ICMAB has made some
other important suggestions to ensure enhanced
transparency and accountability as envisaged in
the proposed FRA. Among others, Past Presidents
of the Institute Mr. A.B.M. Shamsuddin FCMA, Mr.
Md. Abdul Aziz FCMA, Mr. A.K.M. Delwer Hussain
FCMA, Mr. Mohammed Salim FCMA and Treasurer
Prof. Dr. Swapan Kumar Bala FCMA spoke on the
occasion.
Enactment of Financial Reporting
Act 2015
The Institute of Cost and Management
Accountants of Bangladesh (ICMAB) organized
a Special ‘Doa Mahfil’ on September 12, 2015 at
ICMA Bhaban, Nilkhet, Dhaka to celebrate various
achievements in professional matters.
The major issue was the Financial Reporting Act
2015 (FRA) which was passed on September
6, 2015 in the National Parliament. Ensuring
appropriate representation of ICMAB in the
FRA was a great challenge for the profession.
ICMAB ha successfully faced challenge. ICMAB’s
representation in the FRC has been ensured
and due recognition has been given to the CMA
profession in all areas of the law.
On this happy occasion, the participants
expressed overwhelming delightedness and
paid their gratefulness to the Almighty Allah.
They thanked the Government of Bangladesh,
National Parliament, honorable members of the
Parliament and all concerned organizations and
individuals who helped a lot make things in order.
In his speech, the President of the Institute said
“Under the changed scenario, I just want to say
that the Government has taken a welcome step.
Now as professional accountant it’s our turn to
learn more, know more and do more to uphold
our professional image balancing between our
performance and conformity and protecting public
interest.”
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EDUCATION, EXAMINATION AND STUDENT AFFAIRS
Introduction of New Curriculum
Structure and Entry Criteria
As part of its initiative for continuous improvement
and up-gradation of the academic curriculum in
line with global standard, the institute has revised
its overall curriculum structure including the
minimum entry requirement for the CMA study
program. The structure became effected from
July 2015 Session. The key features of the revised
structure are as below
Three Admission Routes
Under the new system there are three entry
routes to study CMA:
• 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
Intermediate Entry Route
Any student who has finished Higher Secondary
School Certificate (H.S.C.) or ‘A’ Level or Equivalent
Examinations are eligible (subject to minimum
entry criteria) to enter into prestigious Cost and
Management Accountancy program as offered
by the Institute of Cost and Management
Accountants of Bangladesh through this route.
Graduate 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).
Professional Entry Route
This entry route is applicable to the candidates
having other professional designations from such
Professional Accounting Organizations (PAOs)
with whom ICMAB has entered into mutual
recognition of degrees from time to time.
A student may seek admission in two consecutive
levels (excluding entrant under IER). However, he
cannot sit for the exam at a higher level course
until finishes the lower level paper within the
same pillar.
19
ICMAB ANNUAL REPORT 2015
Level of Studies and Structure
Internship and Research
Paper GE 04
Fundamentals ofBusiness
Economics
Paper GE 05
Fundamentals of Ethics, Corporate Governance
and Business Law
Paper GE 03
Fundamentals ofBusiness
Mathematics
Paper IE 03
Business Communications
Paper GE 02
Fundamentals of Management
Accounting
Paper IE 02
Principles of Business & Economics
Paper GE 01
Fundamentals of Financial
Accounting
Paper IE 01
Principles of Accounting
Strategic Level
(Level 5)
Management Level(Level 4)
Operational Level(Level 3)
GraduateEntry Route
Intermediate Entry Route
Paper F3
FinancialStrategy
Financial Pillar
Paper F2
Financial
Management
Paper F1
FinancialOperations
Paper P3
PerformanceStrategy
Performance Pillar
Paper P2
Performance
Management
Paper P1
PerformanceOperations
Paper E3
Enterprise Strategy
Enterprise Pillar
Paper E2
Enterprise
Management
Paper E1
EnterpriseOperations
Paper R3
Financial, Managementand Cost Audit
Regulatory Pillar
Paper R2
Taxation
Paper R1
Legal Environmentof Business
Professional Levels
Business Level (Level 2)
Knowledge Level (Level 1)
Part A: Dissertation Part B: Defense
The new syllabus consists of 20 subjects of which fourteen were adopted from CIMA while the remaining
subjects were developed by ICMAB.
Admission under new curriculum structure
commenced from July-December 2015
session.
New Admission Brochure
The admission brochure to be distributed
among the admission seekers has been
redesigned with rich contents and impressive
look. This professionally developed
promotional material will create a positive
image of the Institute in the mind of the
potential students.
20
ICMAB ANNUAL REPORT 2015
New Entry Career Pack
ICMAB has prepared a new entry career pack of
international standard. The career pack gives
detail guidelines on admission, curriculum,
assessment and qualification requirements of
ICMAB to the newly admitted students.
Study Materials for New Courses
Study Text Materials of all the 14 subjects
adopted from CIMA have been made available to
the students. Steps were taken for development
of Study Text Materials for the three courses of
the Knowledge Level (Level-1 under Intermediate
entry route) in the first phase. Accordingly, Study
Text for IE: Principles of Accounting and IE 02:
Principles of Business & Economics has already
been developed by consultants engaged for this
purpose and has been sent to the reviewers for
final review. The appointment of consultant for
the course IE 03: Business Communication is in
process.
Special Coaching Classes
Special coaching classes for some selected subjects
were arranged throughout the year as additional
support to the students to help overcome their
difficulties on these subjects. Coaching were
arranged for advance level courses- Intermediate
Financial Accounting; Taxation; Advanced Financial
Accounting-II; Financial Management and
Strategic Management Accounting. These special
classes were also helpful for the students who got
limited or no opportunity to attend classes under
regular arrangement. A total of 168 hours special
coaching were rendered during the period under
review.
21
ICMAB ANNUAL REPORT 2015
Meeting with the Teachers
Education Committee held a meeting with the
teachers of the Institute on September 20, 2015.
The main agenda of the meeting was to discuss
regarding different aspects of the new course
curriculum and share with them the strategic
direction of the education committee on different
academic issues. Mr. Jamal Ahmed Choudhury
FCMA, Vice President and Chairman, Education
Committee conducted the meeting. Mr. A.S.M.
Shaykhul Islam FCMA, President; Mr. Mohammed
Salim FCMA, past President and Chairman CIMA
Task Force; and Mr. Nikhil Chandra Shil FCMA,
Consultant Academic Affairs attended the
meeting and spoke on the meeting agenda. Taking
part in the discussion, the teachers of the Institute
shared their opinions, raised their concerns and
made suggestions on certain issues for further
improvement. The President and the Vice-
President endorsed their observation and assured
gradual implementation of the suggestions.
Meeting with the Examiners,
Question Setters, Principal
Examiners and Class Teachers
The Examination Committee led by its Chairman
Mr. Arif Khan FCMA held a meeting with the
Question Setters, Answer Script Examiners,
Principal Examiners and Class Teachers to discuss
different examination related matters. The
question setting and assessment policies under
the new course curriculum were shared with the
attendees. The chairman sought co-operation of
all to maintain the highest education standard of
the Institute. Vice-President and Treasurer of the
Institute also attended and spoke in the meeting.
Program for Enhancement of
Practical Skills (PEPS)
Students’ Affairs Committee of ICMAB arranged
a practical knowledge sharing workshop for the
students under its branded caption “Program
for Enhancement of Practical Skills (PEPS)”.
The purpose of this initiative is to equip the
students with knowledge and skills of practical
fields along with their academic education. The
two-day workshop was organized in March
19-20, 2015. The workshop comprised of four
technical sessions namely “Orientation to Export
Import Documentation Procedure”; “Excel:
Tips and Tricks”; “Receivable and Forex Fund
Management in Textile Industry” and “Warehouse
Management”. Mr. Md. Muzahidul Islam FCMA,
Finance and Accounts Manager, Avery Dennison,
Mr. Md. Nazmul Muneer, Sr. Officer, Beximco
22
ICMAB ANNUAL REPORT 2015
Year No. of Students2010-2011 3832
2011-2012 4107
2012-2013 3380
2013-2014 2951
2014-2015 3760
Year Wise Enrolment of Students
Pharmaceuticals Ltd., Mr. Saiful Islam, DGM & CFO,
Envoy Textiles Ltd. and Mr. Partha Pratim Barua,
Manager, Warehouse, Beximco Pharmaceuticals
Ltd. acted as resource persons.
ICMAB Library
Addition of Books
415 copies of text and reference books have been
procured for Dhaka and other Branch libraries
during the reported period.
Renovation of Library
Some major renovation have been done to
create a cozy and congenial reading and learning
atmosphere in the library. Interior has been
refurbished with the help of a designer to give a
new look. Library columns and beams have been
covered with wooden structure; false ceiling have
been fitted hiding the concrete roof; improved
illumination have been installed and newspaper
stand have been set-up. Further development of
the library infrastructure is in our investment plan.
Enrolment and Examination
Statistics
Enrolment Statistics
Attracting students to the CMA profession is a
priority agenda of the Council. Strategies have been
adopted to make the CMA education attractive to
potential students. We are getting encouraging
response. The collaborative arrangements with
globally reputed professional bodies including
CIMA made positive impact in this respect.
23
ICMAB ANNUAL REPORT 2015
Appearance at the Examination
During the year the Institute conducted three
examinations at its examination centers in
Dhaka, Chittagong, Khulna, Rajshahi, Comilla,
Dubai, Indonisia and Doha. A total 8164 students
appeared in these examinations.
Centre December2014
April2015
August2015
Dhaka 2369 2127 2254
Chittagong 320 306 299
Khulna 80 58 88
Rajshahi 51 38 41
Comilla 41 37 42
Doha (Qatar) 03 03 03
Dubai 01 01 -
Indonesia 01 - 01
Total 2866 2570 2728
Center wise Appearance at the
Examination LevelDecember
2014April2015
August2015
Passed CMA Final
Examination26 33 17
Professional Level-IV 14 23 14
Professional Level-III 30 71 14
Professional Level-II 23 34 24
Professional Level-I 27 24 41
Foundation Level 90 56 36
Total 210 241 146
Level wise Examination Results
Level wise Examination Results
Year Wise Enrolment of Students
24
ICMAB ANNUAL REPORT 2015
Name Examination Award Awarded for
Mr. Somendra
Nath Mondal
Reg. #
20091133
December,
2014
Cash
Prize of
Tk.
2,000
Securing
highest
marks in
Principles of
Accounting
Mr. Md. Ariful
Islm Bhuiyan
Reg. #
20131771
April, 2015
Cash
Prize of
Tk.
3,000
Securing
highest
marks in
Management
Accounting
Mr. Abu
Arafat Bin
Syed
Reg. #
20113681
April, 2015
Cash
Prize of
Tk.
3,000
Securing
highest
marks in
Strategic
Management
Accounting
Students’ Achievement
Following students achieved awards for their
outstanding performance in CMA examinations:
Reception to Newly Qualified
CMAs
The Council accorded a warm reception to the
CMAs passed in December 2014 Examination
and April 2015 Examination in two separate
programs arranged for this purpose. President
Mr. A S M Shaykhul Islam FCMA chaired both the
programs. He advised the newly qualified CMAs
to keep in touch and maintain liaison with the
Institute so that they could update themselves
with development of CMA profession. Among
others Vice Presidents, Secretary, Treasurer,
Past Presidents and Council members of the
Institute attended the reception programs. The
newly qualified CMAs also expressed their opinion
regarding education and examination system of
the Institute and on professional matters.
Promoting CMA Education among
Potential Students
Students’ Seminar at ICMAB
In order to promote CMA education among
prospective students two “Students Seminar”
were held at ICMAB during the period under
review.
First of these seminars were held on January 24,
2015. Around 200 students attended the seminar.
Mr. Mohammed Salim FCMA, President, Mr. ASM
Shaykhul Islam FCMA and Mr. Arif Khan FCMA, Vice
Presidents and Mr. Zillur Rahman FCMA spoke
in the program. Mr. Nikhil Chandra Shil FCMA,
Consultant Academic Affairs, ICMAB conducted
the session.
The other seminar was held on July 31, 2015.
Around 500 students attended the seminar. Mr.
ASM Shaykhul Islam FCMA, President, Mr. Md.
Abdur Rahman Khan FCMA, Secretary, Prof. Dr.
Swapan Kumar Bala FCMA, Treasurer spoke
in the program. Mr. Nikhil Chandra Shil FCMA,
Consultant, Academic Affairs, ICMAB conducted
the session.
Seminar at AIUB
In co-operation with department of Accounting of
American International University – Bangladesh
(AIUB) the Institute arranged a promotional
seminar titled “Professional Management
Accounting Education in Bangladesh - Implications
to Accounting and Finance Graduates” on
December 1, 2014 at AIUB premise. Mr. Zillur
Rahman FCMA made a presentation highlighting
the CMA career and education. Mr. Mohammed
Salim, FCMA and Mr. Jamal Ahmed Choudhury
FCMA, spoke in the program on behalf of the
Institute. Prof. Md. Maksudur Rahman Sarker
FCMA, Department of Accounting & IS, Faculty
25
ICMAB ANNUAL REPORT 2015
of Business Studies, University of Dhaka, Mr.
RoomeeTarequeMoududFCMA, Director, OPA,
AIUB and Mohammad Zakaria Masud FCMA,
Assistant Professor & Department Head,
Department of Accounting, AIUB spoke on behalf of
the University. Among other Mr. Md. Kausar Alam
FCMA, Group Chief Financial Officer, Rahimafrooz
(Bangladesh) Ltd. and Lt. Col. Md. Humayun Kabir,
psc (Retd), Director, ICMAB and senior officials of
ICMAB attended the program.
Seminar at Daffodil University
The Institute arranged a Seminar titled “Grow with
Professional Management Accounting Education:
Implication to Business Graduates” on April 13,
2015 at Daffodil University, Dhaka to make the
business graduates of Daffodil University aware
about the CMA profession.
Prof. Dr. M. Lutfar Rahman, Vice-Chancellor,
Daffodil University graced the occasion as Chief
Guest while Mr. Jamal Ahmed Choudhury FCMA,
Vice-President, ICMAB, Mr. Md. Abdur Rahman
Khan FCMA, Secretary, ICMAB were present as
special guests. Prof. Rafiqul Islam, Dean, Faculty
of Business & Economics was present as Session
Chairman. Mr. Nikhil Chandra Shil FCMA made
a resourceful presentation on Management
Accounting Education and Profession in
Bangladesh. Vice Chancellor Dr. Lutfar Rahman
in his speech put emphasis on the need for
ethical practice in business. He appreciated
ICMAB for including ethics in its’ curriculum.
Professor Rafiqul Islam, Dean, Faculty of Business
& Economics (FBE) applauded ICMAB’s role in
rendering professional education in the country.
He thanked the Vice President and ICMAB Council
for selecting Daffodil International University as
the platform of such professional discussion.
Mr. Mohammed Masum Iqbal, Associate Professor
& Head, Department of Business Administration,
Daffodil International University nicely conducted
the seminar. The program ended with a Q & A
session.
Seminar at Eden Mohila College
In co-operation with faculty of Business Studies
of Eden Mohila College the Institute arranged
a promotional seminar on August 17, 2015 at
26
ICMAB ANNUAL REPORT 2015
Student Conference at Bangalore, India
The board of studies of the Institute of Chartered
Accountants of India organized its International
Conference for CA Students with the theme
“PRARAMBH: A Kickstart to Excellence” on
December 27-28, 2014 at Bangalore, India.
ICMAB Student Mr. Shohag Al Mamun, (Reg. No:
20082960) participated & presented a paper at
this conference.
Eden Mohila College premise. Professor Md.
Masume Rabbani Khan, Chairman, Department
of Accounting, Eden Mohila College chaired the
meeting. Mr. Mohammed Salim FCMA, Past
President, Mr. Jamal Ahmed Choudhury FCMA,
Vice President and Mr. Nikhil Chandra Shil
FCMA, Consultant Academic Affairs spoke in
the program. Among others Ms. Farida Yesmin,
Associate Professor, Department of Accounting,
Mr. Khairul Bashar Khan, Associate Professor, Mr.
Md. Hemayet Hossain, Associate Professor, Mr.
Mohammad Noor-e-Alam, Associate Professor,
Department of Finance & Banking, Ms. Sofia
Begum, Associate Professor, Department of
Marketing, Ms. Nazmun Nahar, Assistant
Professor, Mr. Shahtab Uddin, Assistant Professor,
Mr. Ferdous Akhter, Assistant Professor, Ms.
Anjuman Ara, Assistant Professor, Department of
Accounting attended the program. The program
ended with a Q & A session.
Students’ Conference at Colombo, Sri Lanka
Chartered Accountants Students’ Society (CASS),
Sri Lanka organized the 29th International CA
Students’ Conference on the theme “Train, Ignite,
Inspire”. CASS invited students from ICMAB to
participate at the conference. Mr. Mohammad
Mahmudul Amin (Reg : 20071098) & Mr.
Mohammad Elias, (Reg : 20072821) participated in
the conference.
27
ICMAB ANNUAL REPORT 2015
Seminar on “Grow with Professional Management Accounting Education- Implication to Business Graduates”
Attendance of students in the class room
Reception to the Newly Qualified CMAs passed in December 2014 Examination
PHOTO GALLERY
28
PARTNERING WITHENTREPRENEURS AND EMPLOYERS
ICMAB signs MoU with Confidence
Group
ICMAB and Confidence Group signed a
Memorandum of Understanding (MoU) on
technical and strategic cooperation in various
fields in the interest of mutual benefit.
Mr. Mohammed Salim FCMA, President ICMAB and
Mr. Imran Karim, Managing Director of Confidence
Group, signed the MoU at the conference room,
UTC Building in the capital on 27 January 2015.
Under the MoU, Confidence Group would help
ICMAB in infrastructural development and for
strengthening educational facilities. ICMAB
assured the Confidence Group of technical support
with regards to financial management including
training and related business development issues.
Mr. Md. Abdur Rahman Khan FCMA, Treasurer of
ICMAB, Md. Akhtaruzzaman FCMA, Md. Belayet
Hossain FCMA, Md Humayun Kabir psc Director,
KM Bahauddin, Additional Director of ICMAB, Mr.
Salman Karim, CEO, Mr. Alamgir Akber GM-F&A,
Mr. S.M Zahir Uddin Haider FCMA, CFO (ECVBL),
Mr. Main Uddin ACMA, Finance Controller of
Confidence Group were present at the signing
ceremony.
ICMAB signs MoU with ATI Limited
ICMAB and ATI Limited signed a Memorandum of
Understanding (MoU) on technical and strategic
cooperation in various fields for a term of 03 years
in the interest of mutual benefit.
Mr. Abu Sayed Md. Shaykhul Islam, FCMA,
29
ICMAB ANNUAL REPORT 2015
President ICMAB and Shaikh Abu Reza, Executive
Director, ATI Limited, signed the MoU at the
ICMAB Bhaban, Dhaka on 04.03.2015 on behalf of
respective organizations.
Under the MoU, ATI Limited would provide
e-learning and virtual learning modules for ICMAB
students around the country in remote areas, help
ICMAB in implementation of IT projects and for
integration of ICMAB Webportal and ERP solutions
software including management of IT related
support services. ICMAB assures ATI
group of professional and advisory
services with regards to financial
management issues and business
development matters. Mr. Mohammed
Salim FCMA Past President, Prof. Dr.
Swapan Kumar Bala, FCMA, Treasurer
of ICMAB, Md. Humayun Kabir psc,
Director of ICMAB, Asafur Rahman Asif,
Chief Marketing Officer, Rezaul Karim
Akash, Sr. Manager Operation of ATI
Limited were present at the signing
ceremony.
ICMAB and Standard Chartered
Bank agree to strengthen mutual
cooperation
A delegation of ICMAB headed by its President
Mr. A.S.M Shaykhul Islam FCMA called on
Mr. Abrar A. Anwar, Chief Executive Officer,
Standard Chartered Bank ( SCB) Bangladesh at
his office on June 04, 2015. The ICMAB President
apprised the CEO about the role of Cost and
30
ICMAB ANNUAL REPORT 2015
Management Accountants in enterprise and
financial management, performance evaluation
and sustainable development. They discussed
among others, matters of financial reforms,
risk management and the growth of industry
and service sectors. The CEO, SCB expressed his
interest to make strategic partnership with ICMAB
for the development of efficient human resources
for banks and financial services. He also assured
to work together to introduce e-learning facilities
and web based knowledge projects.
They also agreed to find more areas of co-operation
between SCB and ICMAB in the days ahead.
Among delegates Past Presidents Mr. Muzaffar
Ahmed FCMA, Mr. Mohammed Salim FCMA, and
the then Director Lt Col (retd) Mr. Md Humayun
Kabir, psc were present in the meeting. Mr. Imtiaz
Ibne Sattar, Chief Financial Officer, SCB also took
part in the discussion.
UK’s Association of Accounting
Technicians delegation meets
ICMAB President
A delegation of the Association of Accounting
Technicians (AAT), UK headed by its Consulting
Manager Ms. Laurie Gillow called on ICMAB
President Mr. Abu Sayed Md. Shaykhul Islam
FCMA at his office at ICMA Bhaban, Nilkhet, Dhaka
on August 06, 2015. International Sales Executive
Ms. Gemma Baker, AAT, Ms. Suraya Jahan, Deputy
Director of Trade & Investment, British High
Commission, Dhaka and ICMAB Director Lt. Col.
Md Humayun Kabir psc (Rtd.) were present in the
meeting. They exchanged views and ideas on the
development of accounting profession and also
discussed about the matters of bilateral interest.
31
ICMAB ANNUAL REPORT 2015
LIAISON WITH GOVERNMENT AND REGULATORY BODIES
ICMAB delegation meets Chairman, Parliamentary Standing Committee
on Ministry of Finance
A delegation of ICMAB headed by
its President Mr. ASM Shaykhul
Islam FCMA called on Dr.
Muhammed Abdur Razaque, MP,
Chairman, Parliamentary Standing
Committee on Ministry of Finance
at his office on February 3, 2015.
The Chairman highly appreciated
the role of Cost and Management
Accountants for establishing the
financial discipline in business and
industrial sectors of the country
and also urged on the need for
implementation of Cost Audit.
He assured all possible help and
assistance for the development of the Institute as well as the CMA profession.
ICMAB delegation meets Mr. Nazmul Hassan MP
A delegation of ICMAB headed by its President Mr. ASM Shaykhul Islam FCMA called on Mr. Nazmul
Hassan (Papon), MP, Managing Director, Beximco Pharmaceuticals Ltd. and President, Bangladesh
Cricket Board at his office on
February 10, 2015 to discuss
about the professional issues.
ICMAB team has appreciated
his untiring effort for the
development of the country
at various capacity along with
BCB. He also promised to
provide active guidance and
support for the development of
CMA Profession in the country
and the Institute as well.
32
ICMAB ANNUAL REPORT 2015
ICMAB delegation meets Civil Aviation and Tourism Secretary
A delegation of ICMAB headed by its President Mr. Abu Sayed Md. Shaykhul Islam FCMA called on Mr.
Kurshed Alam Chowdhury, Secretary, Ministry of Civil Aviation and Tourism, Government of the People’s
Republic of Bangladesh at his office on March 08, 2015. The ICMAB delegation apprised the Secretary of
the role of Cost and Management Accountants and their contribution in the trade, business, industry
and other service sectors of the country. The delegation also sought active support and guidance of the
Secretary for the development of CMA Profession. Honorable Secretary for Civil Aviation and Tourism
assured the ICMAB President and the members of the delegation of his continued support for the
betterment of CMA profession in the continuously changing global environment.
ICMAB delegation called on Commerce Secretary
A delegation of ICMAB headed by its President Mr. Abu Sayed Md. Shaykhul Islam FCMA called on Mr.
Hedayetullah Al Mamoon, ndc, Senior Secretary, Ministry of Commerce, Government of the People’s
Republic of Bangladesh at his office on March 18, 2015. ICMAB President updated the honorable
Senior Secretary about the overall affairs of the Institute and the progress of the ongoing activities.
The delegation also sought active support and guidance of the Secretary for the development of CMA
Profession. Honorable Senior Secretary for Commerce assured the ICMAB President and the members of
the delegation of his continued support for the betterment of CMA profession.
ICMAB delegation meets State Minister for Power, Energy and Mineral
Resources
A delegation of ICMAB headed by its
President Mr. Abu Sayed Md. Shaykhul
Islam FCMA called on Mr. Nasrul Hamid
M.P., State Minister for Power, Energy
and Mineral Resources, Government
of the People’s Republic of Bangladesh
at his office on March 23, 2015. ICMAB
President updated the honorable
State Minister about the overall
affairs of the Institute and particularly
about the development issues of CMA
profession. He also sought help of the
Minister for development of ICMAB
and the Minister assured him to
provide all out support and assistance
to ICMAB.
33
ICMAB ANNUAL REPORT 2015
ICMAB delegation meets State Minister for Finance and Planning
A delegation of ICMAB headed by its President Mr. Abu Sayed Md. Shaykhul Islam FCMA called on Mr. M.A.
Mannan MP, State Minister for Finance and planning, Government of the People’s Republic of Bangladesh
at his office on August 04, 2015 to discuss matters of accounting profession and public interest. ICMAB
President updated the State Minister about the overall affairs of the Institute and particularly about the
development issues of Professional Accounting regime of Bangladesh. He also sought help of the Minister
for development of ICMAB and the Minister assured him to provide all out support and assistance to
ICMAB for strengthening its capacity to provide world class accounting education in Bangladesh. The
Minister also asked the ICMAB delegation to work more under professional ethics and integrity to make
Bangladesh an upper middle-income country as early as possible.
ICMAB President attends meeting on FRA in Ministry of Finance
A meeting was held on 06 August, 2015 at Ministry of Finance, Bangladesh Secretariat, Dhaka to discuss
on proposed Financial Reporting Act. The Finance Minister Mr. Abul Maal A Muhith presided over the
meeting. Among others Senior Secretary, Finance Division, Ministry of Finance Mr. Mahbub Ahmed,
Secretary, Bank and Financial Institutions Division (BFID) of the Ministry of Finance Dr. M Aslam Alam,
34
ICMAB ANNUAL REPORT 2015
Secretary Internal Resources Division (IRD) and Chairman, National Board of Revenue Mr. Md. Nojibur
Rahman, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mr.
Abdul Matlub Ahmad, President of Metropolitan Chamber of Commerce and Industry Mr. Syed Nasim
Manzur, President of Dhaka Chamber of Commerce & Industry (DCCI) Mr. Hossain Khaled, President of
ICMAB Mr. A.S.M Shaykhul Islam FCMA, President of ICAB Mr. Masih Malik Chowdhury FCA and high
officials of Ministry of Finance attended the meeting.
ICMAB delegation meets Adviser of Economic Affairs to the Prime
Minister
A delegation of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) headed by its
President Mr. Abu Sayed Md. Shaykhul Islam FCMA called on Dr. Mashiur Rahman, Adviser of Economic
Affairs to the Prime
Minister, Government
of the People’s Republic
of Bangladesh at Prime
Minister’s Office on
September 14, 2015
to discuss matters of
ICMAB and national
economic issues.
ICMAB President
updated the Adviser
to the Hon’ble Prime
Minister about the
overall affairs of the
Institute and particularly about the Professional Cost and Management Accounting regime of Bangladesh.
He also sought help of the Adviser for development of ICMAB and also apprised the Adviser about the role
of Cost and Management Accountants and their contribution for the sustainable development of trade,
business, industry and service sectors of the country. The Adviser assured him to provide all out support
and assistance to ICMAB for strengthening its capacity.
ICMAB Delegation Meets Commerce Secretary
A delegation of ICMAB headed by its President Mr. Abu Sayed Md. Shaykhul Islam FCMA called on Mr.
Hedayetullah Al Mamoon, ndc, Senior Secretary, Ministry of Commerce, Government of the People’s
Republic of Bangladesh at his office on September 22, 2015. ICMAB President updated the Senior Secretary
about the on-going activities of the institute and sought all out support and cooperation of the ministry
for holding SAFA International Conference 2015 successfully. It may be mentioned that ICMAB hosted the
said SAFA conference on 18 & 19 October 2015 at Pan Pacific Sonargaon Hotel, Dhaka and delegates from
the member countries of SAARC participated in same. The Senior Secretary for Commerce assured his
continued support for the development of CMA profession and SAFA Conference 2015.
36
SEMINARS, WORKSHOPS AND TRAINING
ICMAB holds CPD Program on Professional Ethics and Integrity
ICMAB organized a Continuous Professional Development (CPD) program on “Professional Ethics and
Integrity-A Management Accountant’s Perspective” on April 09, 2015 at ICMAB Ruhul Quddus Auditorium,
Dhaka. Mr. Abu Sayed Md. Shaykhul Islam FCMA, President of ICMAB presided over the CPD program.
Ms. Nazneen Begum, Additional Secretary, Ministry of Commerce, Government of the People’s Republic of
Bangladesh graced
the CPD program as
the Chief Guest. Ms.
Akhtar Sanjida Kasem
FCA, FCMA, Partner, A.
Qasem & Co presented
the technical paper
as Resource Person.
Mr. Jamal Ahmed
Choudhury FCMA, Vice
President of ICMAB
delivered the welcome speech and Mr. Md. Abdur Rahman Khan FCMA, Secretary of the Institute offered
vote of thanks. A good number of members of the Institute participated in the CPD program.
CPD program on Infrastructural Development in Bangladesh: Future
Prospects and Challenges
ICMAB organized a Continuing Professional Development (CPD) program on “Infrastructural Development
in Bangladesh: Future Prospects and Challenges on April 27, 2015 at 6:30 p.m. at ICMAB Ruhul Quddus
Auditorium, ICMA Bhaban, Dhaka. Dr. Mashiur Rahman, Economic Affairs Adviser to the Prime Minister,
Government of the People’s Republic of Bangladesh graced the programme as Chief Guest while Mr. Arastoo
Khan, Member, Planning Commission, Government of the People’s Republic of Bangladesh was present
37
ICMAB ANNUAL REPORT 2015
as Special Guest. Mr. Nazrul Islam, Managing Director, Infrastructure Investment Facilitation Company
(IIFC), presented paper in the programme as Resource Person. President of ICMAB A.S.M Shaykhul Islam
FCMA presided over the function. Secretary of the Institute Mr. Md. Abdur Rahman Khan FCMA delivered
the vote of thanks. A good number of members of the Institute participated in the program.
Workshop on ‘’Transfer Pricing’’
The Institute organized a Workshop on “Transfer Pricing” on May 9, 2015 at ICMAB Ruhul Quddus
Auditorium, ICMA Bhaban, Dhaka. Mr. Md. Nojibur Rahman, Secretary, Internal Resources Division (IRD)
& Chairman, National Board of Revenue (NBR) inaugurated the Workshop as the Chief Guest while Mr.
Aminur Rahman, Former Member (Tax Policy), NBR and Mr. Md. Shobbir Ahmed, Joint Director, CIC &
Coordinator, Transfer Pricing, NBR presented technical papers as Resource Persons. Mr. Nikhil Chandra
Shil FCMA made a brief presentation on the “Role of Cost and Management Accountants in Transfer
Pricing” in the inaugural session. President of ICMAB Mr. A. S. M. Shaykhul Islam FCMA presided over
the opening ceremony of the Workshop. Chairman, Seminar and Conference Committee Mr. Mohammed
Salim FCMA delivered the welcome address while Secretary of ICMAB Mr. Md. Abdur Rahman Khan
FCMA offered the vote of thanks on the occasion. Mr. Md. Nojibur Rahman NBR Chairman in his speech,
appreciated the professional skill, ethics and morality of the ICMAB members. He stressed upon the
importance of integrity and professionalism and mentioned that he would think of building a strategic
partnership between NBR and ICMAB with regards to expansion of tax net and other areas of taxation
in the coming days. Nearly 200 participants including high officials of different private and public
organizations and members of the Institute attended the day long workshop.
CPD Program on “Basic Overview on SAP-FICO”
A Continuing Professional Development (CPD) program on Basic Overview on SAP-FICO was held on November
24, 2015 at 6:30 p.m. at ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka. The session was
chaired by Mr. Rafiq Ahmad FCMA, Past President, ICMAB and Executive Director, T.K. Group of Industries. Mr.
Md. Shafiqul Alam FCA, FCMA, Group CFO & Company Secretary, Super Star Group (SSG) presented paper in
the CPD program. A good number of members and students of the Institute participated in the CPD program.
38
GOVERNANCEAND ADMINISTRATION
Proposed Chartered Management Accountants Act-2015
Pursuant to the decision of the Government to
transform all Ordinances into Act, the Institute
has taken the initiative to transform its Cost
and Management Accountants Ordinance-1977
to “Chartered Management Accountants Act”
changing name of the Institute as “The Institute
of Chartered Management Accountants of
Bangladesh”. In view of the above, a draft Act has
been submitted to the Ministry of Commerce by
the Institute. The draft has been revised several
times during last two years for improvement of
the Act.
On April 21, 2014 a meeting was held in the Ministry
of Commerce chaired by Additional Secretary,
Ministry of Commerce Mr. Manoj Kumar Roy and
in the meeting it was finalized to rename the
Institute as “Institute of Chartered Management
Accountants of Bangladesh (ICMAB)” and the name
of the profession as “Chartered Management
Accountant”. In the meeting a Sub-Committee has
also been formed consisting of five members to
review, modify and update the above mentioned
draft Act. Mr. A.K.M. Jashim Uddin FCMA, Director
General, Foreign Aided Project Audit Directorate
has been nominated as Chairman of the said Sub-
Committee. Other members of the Sub-Committee
are Prof. Dr. Mahmuda Akhter, Accounting &
Information Systems Department of Dhaka
University, Mr. Shish Haider Chowdhury, Deputy
Secretary, Ministry of Finance, Ms. Ruksana Rashid
FCMA, Executive Director, Securities & Exchange
Commission and Secretary, ICMAB.
The Sub-Committee met in several meetings
and changed, modified and updated few sections
of the draft Act and submitted final draft to
the Ministry of Commerce on August 26, 2014.
Ministry of Commerce circulated the draft Act and
collected comments from different ministries and
stakeholders on the proposed draft Act.
Meanwhile, the Financial Reporting Act (FRA) 2015
has been passed by the Parliament. According
to FRA three new sections shall required to be
incorporated in the proposed draft Act. Ministry
of Commerce requested the Sub-Committee on
October 01, 2015 to change & modify the draft
Act in consideration of comments received from
different ministries and stakeholders as well as
amendments made by the Financial Reporting Act
2015.
The Sub-Committee took the matter seriously
and modified and updated the proposed draft Act
considering the comments of different ministries
and stakeholders as well as FRA and submitted
final draft of “The Chartered Management
Accountants Act 2015” to the Ministry of Commerce
on November 8, 2015.
Now the proposed Act is under consideration
of Ministry of Commerce and it is expected
that the proposed Act will be passed by the
Parliament within shortest possible time. The
Chartered Management Accountants Act is much
more comprehensive and provides for regional
representation in the National Council of ICMAB.
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ICMAB ANNUAL REPORT 2015
Review of current HR Structure and Promotion Policy of the Institute
Kumar Bala FCMA, Past President Mr. Mohammed
Salim FCMA, Council Member Mr. Md. Munirul
Islam FCMA and a large number of Officers and
Staff of the Institute were present in the ceremony.
The Governance and Administrative Affairs
Committee reviewed the existing manpower /
Organizational structure and recruitment &
promotion policy of ICMAB.
Based on the discussion of meetings and inputs
received from the Committee members the
Committee finalized the new organizational
chart with three Divisions such as Academic
Affairs Division, Corporate Affairs Division and
Technical Affairs Division and seven Departments
such as Education Department & Examination
Department (under Academic Affairs Division),
Administration Department, Finance & Accounts
Department and ICT Department (under Corporate
Affairs Division), Research & Publication
Department and Members Affairs Department
(under Technical Affairs Division). Internal Audit
and Members Affairs department are the two new
departments proposed to be established under
the new organization structure.
Salary Grade, recruitment criterion (direct or
promotion), minimum qualification for direct
recruitment/promotion and employment type
(regular or contractual) for each post has been
specifically mentioned in the proposed HR
structure.
The Committee also recommended a detail
promotion policy specifying minimum qualification,
service experience and evaluation criteria for
promotion in each post as proposed in the new
HR structure.
It has also been decided to submit the
recommendation of the Governance and
Administrative Affairs Committee regarding
organizational restructuring, recruitment and
promotion policy to the Council for approval within
earliest possible time.
Farewell to Mr. K. M. Bahauddin
A farewell ceremony was held on August 20,
2015 on the occasion of retirement of Mr. K. M.
Bahauddin, Additional Director and Advisor
of Director, ICMAB. Mr. K. M. Bahauddin
served the Institute for about 43 years.
He was very sincere and committed to
his job and dedicated to the Institute.
He was involved with the Institute since
its inception. Everybody present in the
ceremony remembered his contribution
with due respect. President of the Institute
Mr. A. S. M. Shaykhul Islam FCMA, Vice
President Mr. Jamal Ahmed Choudhury
FCMA, Secretary Mr. Md. Abdur Rahman
Khan FCMA, Treasurer Prof. Dr. Swapan
40
ICT AND INFRASTRUCTURE
Re-launching ICMAB Website
ICMAB website has been restructured and
redesigned to make it more informative, interactive
and dynamic. Formal launching of the website
was held on December 14, 2014. Mr. Hedayetullah
Al Mamoon, ndc, Senior Secretary, Ministry of
Commerce, Government of the People’s Republic
of Bangladesh inaugurated the website in a simple
ceremony.
The redesigned website www.icmab.org.bd got
wide response from the visitors and information
seekers with a total of 1,51,671 hits as of
November 26, 2015 and current monthly hits of
around 35,000 plus.
ICMAB delegate meets the
Secretary, Information and
Communication Technology Division
President, ICMAB called on Mr. Shyam
Sunder Sikder, Secretary, Information and
Communication Technology Division, Ministry
of Posts, Telecommunications and Information
Technology, Government of the People’s
Republic of Bangladesh at his office on June 10,
2015 to discuss matters of human resources
development for the emerging ICT sector of
Bangladesh. ICMAB President apprised the
Secretary about the professional expertise of the
Cost and Management Accountants and their role
in the industry and service sectors of the national
economy. He also requested the Secretary to
create an opportunity where ICMAB can work with
Information and Communication Technology (ICT)
Division and contribute in ICT related training and
developments. The Secretary assured the ICMAB
delegation to extend necessary co-operation
where possible.
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ICMAB ANNUAL REPORT 2015
Meeting with COO, Robi Axiata Ltd.
A delegation of ICMAB headed by its President
called on Mr. Mahtab Uddin Ahmed FCMA, Chief
Operation Officer, Robi Axiata Ltd. Bangladesh at
his office on October 12, 2015. ICMAB President
apprised the COO about the role of Cost and
Management Accountants in enterprise and
financial management, performance evaluation
and sustainable development on IT Sector. They
discussed among others, matters of financial
reforms, risk management and the growth of
industry and service sectors. The COO, Robi Axiata
Ltd. expressed his interest to make strategic
partnership with ICMAB for the development
of efficient human resources for IT Sector and
financial services. He also assured to work
together to introduce e-learning facilities and web
based knowledge buildings.
Implementation Status of ERP
Solutions Software
Last year the council approved implementation
of the ERP solutions for automation of overall
process and activities of the Institute. ICT Solutions
Ltd., an independent software service provider
was engaged to carry out the task. The project
which is now almost in the final stage missed
the completion deadline due to some operational
complexities, particularly the change in the
academic curriculum and structure following the
CIMA MoU. ERP solutions will offer facilities like,
online admission, registration for examination,
online payment of student fees, payment of
subscriptions by the members, maintaining
members and students’ complete database, quick
and easy interaction and communication with
the members and branch offices, online library
supports etc.
As of date, Online Student Management,
Online Member’s Management, Online Exam
Management, Class Management, and part of
Accounts Management modules have been
completed and now on test run. The Complete ERP
is expected to go live within short period of time.
After successful implementation of ERP, ICMAB
shall start its new digital journey from 2016.
Training Program on ICMAB
website
The ICMA InfoTech Centre organized a 2 days
long users’ and administrators’ training on the
newly designed ICMAB website. Ashraful Alam
Mamun. Director of Web Technologies of ICT
Solutions Ltd. conducted the training to make
the users acquainted with the management and
administration of the ICMAB website. Mr. Jamal
Ahmed Choudhury FCMA, Vice-President of the
Institute was present in the program.
Installation of CCTV Cameras and
Biometrics attendance system
As part of digitalization process of the Institute
22 HD quality cameras have been installed at
ICMAB head office and branch offices to improve
security system of the Institute. This initiative will
assist ICMAB authority to monitor property and
functions of the Institute from remote locations.
In order to create better work environment,
to monitor attendance & punctuality of the
employees and ensure discipline within the
Institute, fingerprint recognition system
(Biometrics technology) has also been introduced
in Dhaka Office. This shall be extended to other
branch offices in future.
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ICMAB ANNUAL REPORT 2015
Reconstruction of ICMAB Mosque
ICMAB’s mosque is a temporary arrangement
and it was built in 1985. By this time members,
students and employees of the Institute has been
increased and demands more space comparing
to the existing one. Apart from this, due to the
mosque ICMAB is facing problem regarding car
parking particularly it becomes very embarrassing
to provide priority car parking to the guests who
attended the programs of ICMAB as Chief Guest
and Special Guest. To overcome this situation,
the Council has decided to shift the mosque from
ground floor to 1st floor after constructing two
storied steel fabrication building. The construction
works have already been started and hopefully it
will be completed by March 2016.
Renovation and external elevation
works of ICMA Bhaban
Renovation and external elevation works of ICMA
Bhaban, which was started last year has already
been completed spending Tk. 53.25 lakh in 2014-
15 financial year. Remaining works has been done
with additional cost of Tk. 17.23 lakh spent after
June 2015. It is worth mentioning that an amount
of donation of Tk. 70.02 lakh has already been
collected from different organizations for this
purpose.
Reconstruction of front Boundary
Wall & Gate
The front boundary wall of ICMA Bhaban has been
reconstructed to give it a modern look. Moreover,
a eye catching sliding gate has been prepared to
provide car parking facility to the President as well
as to the guests who attended the programs of
ICMAB as Chief Guest and Special Guest.
Renovation of Students’ toilet at
1st and 2nd floor of ICMA Bhaban
Students’ toilet at 1st and 2nd floor of ICMA
Bhaban which was earlier located at the south
side of ICMA Bhaban was insufficient as per ratio
of the students. Due to lack of proper design and
setup it created difficulties for cleaning services.
Moreover, due to lack of proper ventilation it
spreads odor in the toilet area and in the corridor.
As a result, the environment often became
unhygienic, unhealthy and polluted. The Council
took the matter seriously and decided to shift
the toilet from southern part to northern end
with modern facilities. The toilet has already
been shifted for improvement of general hygienic
condition and overall environment.
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ICMAB ANNUAL REPORT 2015
COST AUDIT AND PROFESSIONAL SERVICES ACTIVITIES
Bangladesh Cost Accounting Standards
ICMAB has released its maiden set of ten Bangladesh Cost Accounting Standards (BCAS) last year. Thus
the institute has engraved its name among the very few institutes having their own standards with
international quality and acceptability. The standards are expected to provide guidance to the preparers
and other users of cost statements, regulators, government agencies, researchers and academicians to
ensure uniformity and consistency in classification, measurement and assignment of costs and profit
estimation. These standards would also act as guide for the Management Accounting professionals
in practice or employment. The standards would also play vital role in successful implementation of
recently enacted Financial Reporting Act. As a part of its ongoing initiatives, the Cost Accounting and
Financial Reporting Standards Committee of ICMAB, under the leadership of its Chairman, Mr. M Abul
Kalam Mazumdar FCMA, has taken up programs to issue twelve more standards during the current year.
Drafting of some of them have already been completed while some are in progress. The contributors in
drafting the standards are:
Sl Topic Contributors
1 Standard Costing Mr. Md. Sarwar Hossen FCMA (F-0732)
2 Activity Based CostingMr. Krishna Chandra Basak ACMA (A-1025)
Mr. Rajan Kumer Saha ACMA (A-1123)
3 Cash FlowMr. Md. Zahangir Alam FCMA (F-0463)
Mr. Md. Maminul Islam FCMA (F-0363)
4 Activity Based Management Mr. Sandip Halder ACMA (A-1136)
5 Capital BudgetingMr. Safiul Azam ACMA (A -1111)
Mr. Nuruz-Zaman ACMA (A-1038)
6 Budgeted Proforma Financial Statement Mr. Md. Saifur Rahman ACMA ( A-1073)
7 Special Costing ReportSyed Mehedi Hasan ACMA(A-1094)
Kazi Simum Reza,ACMA ( A-1085)
8Strategic Cost Management /
Strategic Performance Measurement
Mr. Saiful Islam FCMA (F-0733)
Mr. Mahmudul Hasan ACMA (A-1027)
9 Kaizen Costing Chowdhury Ruhul Ameen Kaiser FCMA ( F-0546)
10 Life Cycle CostingMr. Md. Abul Bashir Khan FCMA (F-0549)
Md. Abdul Hannan, ACMA (A-1008)
11 Product Mix Decisions Mr. Mahmudul Hasan ACMA (A-1027)
12 Enterprise Resource Planning Mr. Saiful Islam FCMA (F-0733)
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ICMAB ANNUAL REPORT 2015
ICMAB Center For Cost Audit and
Management Consultancy
The Institute has entered into a new realm of
professional endeavor through setting up long
desired Management Consultancy Centre at the
ICMA Bhaban in Dhaka and Chittagong in the name
of “ICMAB Center for Cost Audit and Management
Consultancy”.
The main objective of the center is to provide
institutional support to the members who desire
to get involved in Cost Audit and expose the
capacity of the Institute through consultancy
services to the corporations, Government bodies,
local and multinational private sector business
organizations and individuals. It will help to
patent an unparallel brand image of the Institute
in corporate arena.
As a Cost and Management Accountant, apart
from being engaged in job, the members of the
Institute can choose consultancy as a career and
offer their valued services in a number of sectors
of the economy. The centre can help open up
avenues in the field of management consultancy
widening practicing opportunity for the CMAs. This
would also help provide the members a platform
to grow their professional competence and market
access for practicing in the designated field and
ensure establish position of CMAs in the field of
management consultancy.
The Center has already started soliciting
consultancy jobs and in order to equip the Center
with required consultants it has decided to build
a database of the members desiring to do the
consultancy within their arena of expertise and
interest. A letter for collection of desired members’
particulars has already been sent to all.
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ICMAB ANNUAL REPORT 2015
ICMAB Centre For Cost Audit and
Management Consultancy at CMA
Bhaban, Chittagong
President, ICMAB inaugurated “ICMAB Centre for
Cost Audit & Management Consultancy” at CMA
Bhaban, Chittagong on October 6, 2015. Mr. M.
Abul Kalam Mazumdar, FCMA, Prof. Mamtaz Uddin
Ahmed, FCMA, Mr. A. K. M. Delwer Hussain, FCMA
& Mr. Mohammed Salim, FCMA, past presidents of
the Institutes were also present in the program.
At the end of the inauguration Program ICMAB
President attended in a discussion meeting with
the members based in Chittagong. The members
attended in the meeting discussed various
matters of the Institute and given importance
mostly on Financial Reporting Act (FRA) which was
unanimously passed in the National Parliament
recently. On behalf of the Institute, ICMAB
President expressed gratefulness to the Honorable
Prime Minister Sheikh Hasina and her government
for kind approval of Financial Reporting Act and
requested its proper implementation.
ICMAB delegation meets BPC
Chairman
A delegation of the Institute headed by its
President called on Mr. A M Badrudduja, Chairman,
Bangladesh Petroleum Corporation at his office
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ICMAB ANNUAL REPORT 2015
on March 30, 2015. The ICMAB President apprised
the Chairman, BPC about the role of Cost and
Management Accountants. He explained to the
chairman how the industries of the country
would be benefitted through Cost Audit and also
discussed about the process of implementing
Cost Audit in Fuel and Energy sector.
BPC Chairman assured all possible help
and assistance for the development and
implementation of cost audit. Among ICMAB
delegates Council Member Mr. M. Abul Kalam
Muzumdar FCMA and Director of the Institute Md.
Humayun Kabir psc were present in the meeting.
ICMAB delegation calls on
Chairman, BCIC
A delegation of ICMAB headed by its President
called on Mr. Mohammad Iqbal, Chairman,
Bangladesh Chemical Industries Corporation(BCIC)
at his office on May 12, 2015. The ICMAB President
apprised the Chairman, BCIC about the role of
Cost and Management Accountants in enterprise
management, cost control and performance
evaluation of business and industrial sectors. He
also urged upon the need for implementing Cost
Audit in different fertilizer factories, in accordance
with the decision of the government published
through Gazette notification. BCIC Chairman gave
the assurance of implementing the decision of the
government with regards to Cost Audit gradually.
Among ICMAB delegates Past Presidents Mr. M.
Abul Kalam Muzumdar FCMA, Mr.A K M Delwer
Hussain FCMA, Mr. Mohammed Salim FCMA,
Treasurer Prof. Dr. Swapan Kumar Bala FCMA,
Cost Consultant Md. Asaduzzaman Khan FCMA
and Director Md Humayun Kabir were present in
the meeting.
Letter given to different
organizations
In response of some employment advertisements
in the newspaper published by Bangladesh
Biman Airlines and Investment Corporation of
Bangladesh (ICB) the Institute wrote letters to
different organizations requesting them to include
CMA qualification in their recruitment criteria and
also include the CMAs in their present recruitment
process.
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ICMAB ANNUAL REPORT 2015
RESEARCH AND PUBLICATIONS
Journal and other Publications
The journal of ICMAB carries the Professional
image of the Institute. In order to keep pace with
standard of the professional bodies home and
abroad the Journal and Publication Committee is
continuing the improvement of contents, design
and get-up of the journal along with quality of
printing to give it a more professional approach.
Five issues of the Institute’s Bi-monthly Journal
“The Cost and Management” has been published
during the year. Besides, the Institute has also
published souvenirs on the occasion of SAFA
International Conference 2015, Best Corporate
Award-2014, Member List 2015 and Brochures for
Student promotions & CPD Programs.
Research
In the year 2015, the Research and Development
Committee of the Institute has undertaken a
new Research work on “Importance of Power
Generation for the Growth of Agriculture and
Industries in Bangladesh”. Mr. Mohammed Salim
FCMA, Past President and Council Member of the
Institute is the Project Coordinator of the research
work while Mr. R. Tareque Moudud FCMA is
working as the Team Group Leader. To accomplish
the research work successfully, four teams were
formed where fifteen members are working on
Power Generation, Distribution, Transmission and
Demand in the country.
Besides, ICMA Bangladesh being the Chairman
the SAFA Task Force on Implementation of
Basel II in SAFA Region has been carrying out a
research titled “Impact of Basel II implementation
on national economy with special reference to
Disclosure requirement and Risk management
of banks and financial institutions”. This is part
of the SAFA’s research initiative to review the
progress of implementation of Basel II in SAFA
region. Mr. Muzaffar Ahmed FCMA, the Chairman
of the SAFA Committee is lead researcher of the
project. Additionally, the Research & Development
Committee approved the research proposal titled
“Assessing the Government Measures to Arrest
Price Hike of Essential Commodities in Bangladesh
and the Role of Cost and Management Accountants
in Ensuring Effective Price Fixing”. Mr. Shawkat
Ali Waresi, Additional Secretary, Ministry of
Commerce and a member of the Council submitted
this proposal. This research work is also ongoing.
48
ROLE IN NATIONALECONOMIC ISSUE
ICMAB delegation meets NBR Chairman
A delegation of the ICMAB headed by its President called on Mr. Md. Nojibur Rahman, Chairman, National
Board of Revenue at his office on April 01, 2015. The NBR Chairman exchanged greetings with ICMAB
President, office bearers and other Councilors.
ICMAB President highlighted the importance of mutual cooperation with NBR about the revenue collection
matters of the government. They also discussed to make the ensuing budget investment-friendly with
a view to creating more jobs and employment opportunities in the country. NBR Chairman assured to
provide necessary cooperation and help for ICMAB and Cost Management Accountancy profession.
Among ICMAB delegates Vice Presidents Mr. Arif Khan FCMA, Mr. Jamal Ahmed Choudhury FCMA,
Secretary Mr. Md. Abdur Rahman Khan FCMA, Treasurer Prof. Dr. Swapan Kumar Bala FCMA, Council
Members Mr. Muzaffar Ahmed FCMA, Mr. M. Abul Kalam Mazumdar FCMA, Mr. Mohammed Salim FCMA
and Director of the Institute Md. Humayun Kabir were present in the meeting. NBR Member (Tax policy)
Mr. Parvez Iqbal also present in the meeting.
ICMAB organized Pre-Budget Discussion on National Budget 2015-16
ICMAB organized a Pre-Budget Discussion on National Budget 2015-16 on 15 April, 2015 at the ICMAB
Ruhul Quddus Auditorium, ICMA Bhaban, Dhaka. Dr. Mirza Azizul Islam, Former Finance Adviser to the
Caretaker Government attended the program as chief guest while Chowdhury Amir Hossain, Member
(International Taxes) of National Board of Revenues (NBR) was present as the Special Guest. Eminent
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ICMAB ANNUAL REPORT 2015
Economist Prof. Abu Ahmed, Moazzem Hossain, Editor of The Financial Express and Additional Research
Director of Centre for Policy Dialogue (CPD), Dr. Khondaker Golam Moazzem attended the program as
Resource Persons. President of ICMAB Mr. A.S.M Shaykhul Islam FCMA presided over the function while
Secretary of ICMAB Mr. Md. Abdur Rahman Khan FCMA offered vote of thanks.
ICMAB’s Contribution
for Nepal Earthquake
Victims
A delegation of ICMAB headed
by its President handed over a
cheque of Tk. 5 lakh to H. E. Mr.
Hari Kumar Shrestha, Ambassador
Extraordinary Plenipotentiary,
Nepal Embassy at Dhaka on May
21, 2015 for the rehabilitation of
the earthquake victims in Nepal.
The ICMAB delegation also included
the Institute’s Secretary Mr. Md.
Abdur Rahman Khan FCMA and
Director of the Institute Lt. Col. Md
Humayun Kabir psc (Rtd.)
ICMAB congratulates Government of Bangladesh for graduating
Bangladesh into lower middle income country status
ICMAB brought out a rally to congratulate Hon’ble Prime Minister Sheikh Hasina and her government
for graduating Bangladesh into a lower middle-income country status. The rally started from ICMA
Bhaban, Dhaka led by ICMAB President at 11:30 am on July 5, 2015. Mr. Mohammed Salim FCMA and
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ICMAB ANNUAL REPORT 2015
A.K.M. Delwer Hussain FCMA, Council members & Past Presidents of ICMAB along with a good number
of members and students took part in the rally in a joyful manner. The rally went to the “Central Shaheed
Minar” and observed one minute silence to commemorate those who sacrificed their lives during the
language movement. They also took a fresh pledge to work more for the development of the country and
improving the lot of the common people as per dream of the martyrs.
ICMAB’s Post-Budget Discussion on National Budget 2015-16
ICMAB organized a Post-Budget Discussion on National Budget 2015-16 on 29 August 2015 at the
ICMAB Ruhul Quddus Auditorium, Dhaka. Mr. Mohammad Muslim Chowdhury, Additional Secretary,
Ministry of Finance conducted the program as Session Chairman. Prof. Dr. Swapan Kumar Bala FCMA,
Treasurer, ICMAB and Managing Director, Dhaka Stock Exchange Ltd. and Mr. Ranjan Kumar Bhowmik
FCMA, Member, Taxes Appellate Tribunal, presented the paper as Resource Persons. President of ICMAB
presided over the function while Secretary of ICMAB delivered the vote of thanks on the occasion.
The main focus of the discussion was the changes made through Finance Act 2015 so that the professional
CMAs are able to update their knowledge and play due role in public financial sector efficiently and
honestly. A good number of professional CMA’s took part in the question & answer session which made
the program very lively.
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ICMAB ANNUAL REPORT 2015
REPRESENTATION IN REGIONAL AND GLOBAL FORUM
SAFA Assembly, Board,
Committees Meeting at
Bangalore, India
The Institute of Chartered Accountants of India (ICAI)
organized “SAFA Assembly, Board, Committees
Meeting & ICAI International Conference on the
theme “Accountancy Profession: Building Global
Competitiveness, Accelerating Growth” on January
28 to January 31 2015 at Bangalore, India. A four
member delegation of the Institute headed by
its President attended the above meetings and
events. Other members of the delegation were
Prof. Dr. Swapan Kumar Bala FCMA - Chairman
SAFA Committee on NPO’s and Co-operative
Sectors, Mr. Muzaffar Ahmed FCMA - Chairman
SAFA Task Force to Implement BASEL II in SAARC
Countries and Mr. M Abul Kalam Mazumdar
FCMA- Member SAFA ITAG Committee.
SAFA Board, Committees Meetings
& CAPA International Conference
held in Nepal
SAFA Board and Committees Meetings held on
March 27 2015 at Kathmandu, Nepal. . A four-
member delegation of the Institute headed by
its President attended the above meetings and
events. Mr. ASM Shaykhul Islam FCMA - President,
ICMAB & SAFA Board Member; Mr. Mohammed
Salim FCMA - Council Member ICMAB & Technical
Advisor to the Board Member SAFA; Mr. Muzaffar
Ahmed FCMA - Chairman, SAFA Task Force to
Implement BASEL II in SAARC Countries & Member
SAFA Education, Traning & CPD Committee and
Mr. AKM Delwer Hussain FCMA - Member, SAFA
Small & Medium Practices Committee.
Institute of Chartered Accountants of Nepal
(ICAN), the World Bank and the Confederation
of Asian and Pacific Accountants (CAPA) jointly
organized an International Conference and
Roundtable discussion on Public Sector Financial
Management on March 28-29, 2015 at the same
venue. President along with other councilors of
ICMAB attended the CAPA’s program.
ICMAB Delegates attend SAFA
events in Sri Lanka
A four-member delegation of the Institute headed
by its President Mr. ASM Shaykhul Islam FCMA
attended the SAFA Board & Committees Meeting
and Global Management Accounting Summit CMA
Sri Lanka held on July 26-29, 2015 at Colombo, Sri
Lanka. Other members of the delegation were Mr.
Md. Abdur Rahman Khan FCMA, Secretary, ICMAB
& Member, SAFA Committee on Governmental
and Public Sector Enterprises Accounting; Prof.
Dr. Swapan Kumar Bala, FCMA, Treasurer, ICMAB
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ICMAB ANNUAL REPORT 2015
and Chairman, SAFA Committee on NPOs and Co-
operatives Sector and Mr. Muzaffar Ahmed, FCMA,
Chairman SAFA Task Force to Implement Basel-II
in SAARC Countries.
Mr. V. Sagar, who was appointed as Acting
Secretary on 04 December 2014, was confirmed
as the Permanent Secretary of SAFA Permanent
Secretariat in the SAFA Board meeting. ICAI’s
proposal on registration of SAFA as legal entity
in India was approved by the Board, which will be
informed in the next SAFA Board meeting to be
held at Dhaka on 18 October 2015. It was intimated
to the Board meeting that the ICMAB would be the
host of next SAFA events which was held on 18-
19 October 2015 at Dhaka.
41st SAFA Board Meeting in
Dhaka
ICMAB organized 41st SAFA Board meeting at Pan
Pacific Sonargaon Hotel in Dhaka on October 18,
2015. SAFA President Mr. Arjuna Herath presided
over the Board meeting. ICMAB President Mr. Abu
Sayed Md. Shaykhul Islam FCMA led a delegation
of the Institute. In the meeting they discussed
on different professional issues to bring more
excellence in accounting profession in the region.
Representatives from all SAFA member bodies
were present in the meeting.
Press Conference on SAFA
International Conference
The Institute has organized a press conference
on October 17, 2015 at 11.00 a.m. at Pan Pacific
Sonargaon Hotel Dhaka to share the importance
of the SAFA International Conference 2015 with
electronic and print media professionals. Mr. Abu
Sayed Md. Shaykhul Islam FCMA President of
the Institute and Chairman, SAFA International
Conference Committee presented ICMAB’s
Communiqué to the Media Representatives with
particular focus on the theme of the Conference
“Financial Reforms to Boost Industry and Service
Sectors”. Among others Mr. Mohammed Salim
FCMA, Chairman, Seminar and Conference
Committee, Secretary Md. Abdur Rahman Khan
FCMA and Mr. Nazmus Salehin, Director- in-Charge
were also present on the dais, and projected their
valuable opinion to media representatives. They
also addressed various questions and quarries of
the media representatives.
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ICMAB ANNUAL REPORT 2015
SAFA International Conference
2015 held in Dhaka
The Institute of Cost and Management
Accountants of Bangladesh (ICMAB) organized a
2 day long SAFA International Conference-2015
with the theme “Financial Reforms to Boost
Industry and Service Sectors” on October 18-19,
2015 at Pan Pacific Sonargaon Hotel, Dhaka.
Hon’ble Minister of Industries, Alhaz Amir Hossain
Amu MP was present on the occasion as Chief
Guest and inaugurated the Conference while Mr.
M. A. Mannan MP, Hon’ble State Minister for
Finance and Planning, Government of the People’s
Republic of Bangladesh spoke as the Special
Guest and Mr. Abdul Matlub Ahmad, President,
Federation of Bangladesh Chambers of Commerce
and Industry (FBCCI) spoke as Guest of honour.
Economic Adviser to the Hon’ble Prime Minister
Dr. Mashiur Rahman was present as Chief Guest
While Mr. Hedayetullah Al Mamoon, ndc, Senior
Secretary, Minister for Commerce, Government
of the People’s Republic of Bangladesh spoke as
Guest of honour in the valedictory session.
SAFA President Mr. Arjuna Herath, Mr. Abu
Sayed Md. Shaykhul Islam FCMA President of
the Institute and Chairman, SAFA International
Conference Committee and Mr. Mohammed
Salim FCMA Co-Chairman, SAFA International
Conference Committee spoke on the session while
Secretary of ICMAB Mr. Md. Abdur Rahman Khan
FCMA offered vote of thanks.
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ICMAB ANNUAL REPORT 2015
Dr. Jamal Uddin Ahmed, Chairman, Emerging Credit
Rating Limited presented the key note paper
while Mr. M. Abul Kalam Mazumdar FCMA, Council
Member & Past President, ICMAB presented the
recommendations as Rapporteur.
Council Member of the Institute of Chartered
Accountants of India (ICAI) Mr. Anuj Goyal
FCA, Additional Secretary, Ministry of Finance,
Government of the People’s Republic of
Bangladesh Mr. Muhammad Muslim Chowdhury,
Managing Director, Investment Corporation of
Bangladesh Mr. Md. Fayekuzzaman, Council
Member, CMA Sri Lanka Mr. Adrian Perera Chaired
the technical sessions of the Conference.
Four technical papers were presented in this
conference. Presentation of Technical Papers
by Mr. Adrian Perera, Council Member, CMA Sri
Lanka; Dr. Khaodaker Golam Moazzem, Additional
Research Director, Centre for Policy Dialogue,
Bangladesh; Mr. Anis ur Rehman FCMA, Council
Member, ICMAP and Mr. Muzaffar Ahmed FCMA,
Council Member & Past President, ICMAB.
Presentation of Commentary by Mr. Md. Abdur
Rahman Khan FCMA, Deputy Secretary, Ministry
of Finance and Secretary, ICMAB; Mr. Mohammed
Salim FCMA, Council Member and Past President,
ICMAB; Mr. Md. Mamunur Rashid FCMA, Deputy
Managing Director, Index Group of Companies
and Council Member, ICMAB. Mr. Arif Khan
FCMA, Commissioner, Bangladesh Securities and
Exchange Commission (BSEC) and Vice President
of ICMAB; Mr. M. Zakir Hossain, President,
Institute of Management Consultants Bangladesh
(IMCB); Mr. Mahtab Uddin Ahmed FCMA, Chief
Operating Officer, Robi Axiata Limited, Bangladesh
and Mr. Anis ur Rehman, FCMA, Council Member,
ICMAP were made in the conference. At the end
of the program, a colorful laser and cultural show
on Bangladesh Liberation War and heritage was
performed, which was enjoyable and memorable.
Eminent Accounting professionals from SAARC
region participated in the above gala program.
19th CAPA Conference held in
Seoul, Korea
The 19th Conference of Confederation of Asian
and Pacific Accountants (CAPA) was held at Coex,
Seoul, Korea on October 27-29, 2015. Themed
“Asian Accountants – Leading the way, inspiring the
future”, the conference was hosted by the Korean
Institute of Certified Public Accountants (KICPA).
ICMAB President attended the conference on behalf
of the institute. Besides, he attended the CAPA
Board Meeting, assembly of Delegates and also
casted vote to elect new Board of Directors of CAPA.
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ICMAB ANNUAL REPORT 2015
A total 1,334 participants and delegates from 24
jurisdictions attended the conference. It was opened
with a colorful drum performance which created
magnificent sound to give a touch of pleasure and
entertainment to the attendees. CAPA conference
looks forward for building relationship and sharing
knowledge and experiences among the professional
accountants of the member bodies. In line with
this objective, the conference was made fruitful by
learned resource persons and speakers of various
sectors of economy to enable the attendees to
further develop their capabilities and confidence
to support capital market and protect general
investors’ as well as public interest. The valedictory
session included a colorful dance show and a Gala
Dinner to make the “CAPA Seoul 2015” enjoyable,
memorable and successful.
ICMAB President as panelist
in International South-South
Cooperation Seminar
High Level Meeting on South-South and Triangular
Cooperation in the post-2015 Development
Agenda: Financing for Development in the South
and Technology Transfer jointly organized by
Internal Resource Division (IRD), Ministry of Finance
and National Board of Revenue NBR, Government
of the People’s Republic of Bangladesh held on
May 18, 2015 at Sonargaon Hotel, Dhaka.
Mr. A.S.M Shaykhul Islam, FCMA President of The
Institute of Cost and Management Accountants
of Bangladesh (ICMAB) attended as a panelist
in the Impact Session on - “International Tax
Cooperation”.
Mr. Md. Nojibur Rahman, Secretary, Internal
Resources Division (IRD) & Chairman, National
Board of Revenue (NBR) as the Session Chairman.
Hon’ble Finance Minister Mr. Abul Maal Abdul
Muhith MP also attended the Session.
ICMAB President as panelist in International South-South Cooperation Seminar
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ICMAB ANNUAL REPORT 2015
The Sponsors of SAFA International Conference 2015 with prestigious Trophies given by ICMAB
ICMAB President Mr. A.S.M. Shaykhul Islam FCMA with IFAC President Ms. Olivia Kirtley
at CAPA Conference in Seoul, Kore
PHOTO GALLERY
Hon’ble Minister of Industries in the inauguration ceremony of SAFA
International Conference 2015
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ICMAB ANNUAL REPORT 2015
Valedictory Session of SAFA International Conference 2015 by the Economic Adviser to
the Hon’ble Prime Minister Dr. Mashiur Rahman on October 19, 2015
Cultural Show of SAFA International Conference 2015
Cultural Show of SAFA International Conference 2015
PHOTO GALLERY
58
CMA BRANDING AND IMAGE BUILDING
CFO Conference 2014
ICMAB, for the first time in its history, organized
a day long ‘CFO Conference’ at Pan Pacific
Sonargaon Hotel, Dhaka on January 20, 2015
successfully. The theme of the conference was
“Learn, Lead and Succeed.” Mr. Hedayetullah
Al Mamoon, ndc, Senior Secretary, Ministry of
Commerce was the chief guest at the inaugural
session which was addressed among others by
Mr. Mohammed Salim FCMA, President ICMAB,
Mr. Muzaffar Ahmed FCMA, Chairman of seminar
and conference committee and past president of
ICMAB and Mr. Abu Sayed Md. Shaykhul Islam
FCMA, Vice-President of ICMAB.
In his speech Mr. Mamoon laid special stress
on playing due role by the financial officials in
ensuring financial discipline and accountability
in the corporate sector. He also mentioned
that country’s future accounting and finance
professionals must acquire competencies to
provide strategic insights, in place of traditional
scorekeeping duties, as their role are shifting from
financial controller to financial business partner
across the world.
Mr. Aubrey Joachim FCMA, CGMA, Past President of
Chartered Institute of Management Accountants
(CIMA), UK presented key-note paper on “CFO’s
Role in Corporate Management” at the event.
In his presentation, Mr. Joachim said, “The roles
of finance and accounting professionals have
changed over the last few years and will continue
to change in the future.” In place of the tradition
scorekeepers and tabulators, he said, “Both
accounting and finance professionals now find
themselves operating in cross-functional teams
working to identify new business opportunities,
streamlining operations, contributing to decision
making and improving profitability.” The financial
professionals also need to have strong commercial
acumen characterized by strong product, process
and market knowledge, he added.
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ICMAB ANNUAL REPORT 2015
Three separate panel discussions on “CFO in
Next Decade”, “Meet the CFOs” and “Journey
from CFO to CEO- Listening to the Story” were
held at the conference. The discussants at the
plenary sessions were Mr. M. Ruchira Asanka
Perera, Finance Controller, Hi Fashion Holdings
(Pvt.) Ltd, Mr. Imtiaz Ibne Sattar, CFO, Standard
Chartered Bank, Mr. Md. Kausar Alam, Group
CFO of Rahimafrooz, Mr. Mahtab Uddin Ahmed,
COO of Robi Axiata, Mr. Arif Khan, Commissioner,
Securities and Exchange Commission, Mr. Ali
Nawaz, CFO of Beximco Pharma, Mr. Elias Ahmed,
CFO of Coats Bangladesh, Mr. Supun Weerasinghe,
CEO of Robi, Mr. Bhuvnesh Khanna, Managing
Director and Country Head of HSBC, Dr. Swapan
Kumar Bala, Managing Director of Dhaka Stock
Exchange and Dr. Jamal Uddin Ahmed, Secretary
General of Economic Samity and Past President of
ICAB.
ICMAB Best Corporate Awards
2014
ICMAB Best Corporate Awards 2014 was held
on 20th January 2015 at 6.30 p.m. at the Pan
Pacific Sonargaon Hotel, Dhaka where a total of
66 corporate entities won the awards for their
outstanding performance.
Hon’ble Finance Minister Mr. Abul Maal A. Muhith
handed over the awards to the winners as the
chief guest. Chairman of Bangladesh Securities
and Exchange Commission (BSEC) Prof. Dr. M.
Khairul Hossain was the special guest at the award
giving ceremony. Welcome address was delivered
by Mr. Mohammed Salim FCMA, President ICMAB,
ICMAB Vice-President and Commissioner- BSEC
Mr. Arif Khan FCMA, and chairman of Seminar
and Conference Committee and past President of
ICMAB Mr. Muzaffar Ahmed FCMA spoke on the
occasion.
ICMAB recognized the corporate entities in 14
separate categories. Dutch-Bangla Bank Ltd.
bagged the first award in the category of traditional
private commercial banks while the Eastern
Bank Ltd. and Dhaka Bank Ltd. won the second
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ICMAB ANNUAL REPORT 2015
and third ones respectively. Among the Shariah
principles-based private commercial banks, Islami
Bank Bangladesh Ltd. (IBBL) garnered the first
award while the second and third prizes went to
Al-Arafah Islami Bank Ltd. and Export Import Bank
of Bangladesh Ltd. respectively.
In the foreign commercial bank category, Standard
Chartered Bank secured the first prize while The
Hongkong and Shanghai Banking Corporation
Ltd. won the second one and Commercial Bank of
Ceylon PLC the third. Janata Bank Ltd. won the first
award in the category of state-owned commercial
banks while Agrani Bank Ltd. and Bangladesh
Development Bank Ltd. were honored with the
second and the thirds ones. Among the non-
banking financial institutions (NBFIs), Investment
Corporation of Bangladesh received the first prize
while Infrastructure Development Company Ltd.
and Delta Brac Housing Finance Corporation Ltd.
earned the second and third ones. In the category
of non-life insurance, Reliance Insurance Ltd.
obtained the first award while second and third
award went to Green Delta Insurance Company
Ltd. and Pioneer Insurance Company Ltd.
Square Pharmaceuticals Ltd. bagged the first
award in the pharmaceuticals category while
Beximco Pharmaceuticals Ltd. and GlaxoSmithKline
Bangladesh Ltd. won the second and third awards.
In the category of power generation, Summit
Power Ltd. and Summit Purbanchol Power
Company Ltd. garnered the first and the second
awards respectively while Ashuganj Power Station
Company Ltd. and Khulna Power Company Ltd.
jointly got the third one.
Among the multinational companies, British
American Tobacco Bangladesh Company Ltd. won
the first award while the second and third ones
went to Berger Paints Bangladesh Ltd. and Singer
Bangladesh Ltd. In the cement category, Heidelberg
Cement Bangladesh Ltd. received the first prize
while Lafarge Surma Cement Ltd. and M.I. Cement
Factory Ltd. won the second and third ones.
Saiham Textile Mills Ltd., Far East Knitting & Dyeing
Industries Ltd. and Matin Spinning Mills Ltd.
obtained the first, the second and the third awards
respectively in the category of textile/garments.
Among the non-government organizations
(NGOs), BRAC bagged the first prize while Dhaka
Ahsania Mission and United Development
Initiatives for Programmed Actions (UDDIPAN)
won the second and third ones respectively. In the
telecommunication sector, GrameenPhone Ltd.
obtained the first award while Banglalink Digital
Communications Ltd. received the second one.
Six companies won the award in the special
category. These are Grameen Bank, Bangladesh
Submarine Cable Company Ltd., Power Grid
Company of Bangladesh Ltd., Khulna Shipyard
Ltd., Dockyard and Engineering Works Ltd. and
Dhaka Power Distribution Company Ltd. Apart
from the first, second and third award winners, a
number of other corporate entities also received
the certificate of merit awards in different
categories. These companies were Southeast
Bank Ltd., IFIC Bank Ltd. and Prime Bank Ltd. in
the traditional private commercial banks category,
while Social Islami Bank Ltd. and Shahjalal Islami
Bank Ltd. were among the Shariah principles-
based banks. Other recipient of each certificate
of merit are Eastland Insurance Company Ltd.,
Rupali Insurance Company Ltd. and Phoenix
Insurance Company Ltd. in non-life insurance
category, and Uttara Finance and Investments
Ltd., LankaBangla Finance Ltd. and IDLC Finance
Ltd. in the category of NBFIs. Marico Bangladesh
Ltd. and Bata Shoe Company (Bangladesh) Ltd.
also got the certificate of merit awards among
the multinational companies, while Khulna Power
Company Ltd. and Barakatullah Electro Dynamics
Ltd. in power generation category, and Renata
Ltd., Advanced Chemical Industries Ltd. and The
ACME Laboratories Ltd. in the pharmaceuticals
sector.
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ICMAB ANNUAL REPORT 2015
MEDIA COVERAGE
Vibrant Media Presence
ICMAB had a vibrant presence in all print and electronic media throughout the year. The president of
the Institute Mr. Abu Sayed Md.Shaykhul Islam FCMA, appeared in live television interviews and talk
shows on FRA, Capital Market and other economic issues; a number of newspapers including BonikBarta,
ArthoSuchok and online portals published his interviews.
Immediate past President Mr. Mr. Mohammed Salim FCMA, frequently appeared in different TV channels
including ETV NTV, 71 TV for interviews and discussions on national economic issues. Other members of
the Council and members of the Institute also attended different TV, radio and online channels to talk on
different economic and business issues.
All major programs and activities of the institute including the CFO Conference, SAFA Conference,
professional seminars, workshops, panel discussions, etc, were widely covered in the national newspapers
and television channels across the year.
All these helped draw attention of the wider business community and branding of the CMA profession.
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ICMAB ANNUAL REPORT 2015
WE LOST
On behalf of the Institute we express condolence to their bereaved family and pray to the Almighty for
the salvation of their departed soul. May Allah rest them in eternal peace.
Prof. Md. Bashiruddin (F-0167) passed away on 27 December 2014 at 1.30 p.m. at his residence due to old age complication.
Mr. Bashiruddin has served the institute at different
capacities for a long period.
Mr. Md. Rezaul Haque (F- 0768) passed away on June 13, 2015 at his
residence, Mirpur -1, Dhaka.
Mr. Md. Mokbul Ahmed (F-0585) passed away on 27 January 2015 at 10.00 a.m. in khulna while at office. He was
the ex-chairman of Khulna Branch Council.
Syed Ahsan Habib (F-0505), Executive Vice President & Company Secretary of the
Premier Bank Limited passed away on Sunday, August
09, 2015 at United Hospital, Dhaka.
Mr. A K M Shah Alam Khan (F-483) passed away on April 19, 2015 at
1.00 pm while at work in his office. He was 52. He was an amicable,
sincere, and dedicated personality loved by his fellow professionals. He made significant contribution to the
Institute through his proactive role in various committees.
Mr. Biswajit Roy (F-0327), Executive Director (Finance & Accounts) of the Paramount
Textiles Limited passed away on August 22, 2015 in a road
accident.
64
MEMBERS’ UPDATE
Establishment of ‘‘ICMAB
Members’ Fund for Financial
Assistance (MFFA)”
ICMAB Council in its meeting held on 1st
September 2015 unanimously approved
establishment of “ICMAB Members Fund for
Financial Assistance (MFFA)” to provide financial
assistance to the family of any deceased member
and other members in case of their critical illness.
Council also approved a comprehensive policy
regarding financing and management of the fund
in the same meeting, which has been circulated
to all members through e-mail. All past, present
and future members of the Institute and their
family members shall automatically be under the
coverage of this Fund.
Regular source of funding of MFFA shall be
transfer of Tk. 500 from annual membership fees
collection from each member of the Institute.
Considering this requirement, annual membership
fee payable by each member has been increased
by Tk. 500 with effect from 1st July 2015.
In order to create a start up fund initiative has also
been taken by ICMAB for collection of donations
from our generous members and from other
organizations for this noble cause. A dedicated
savings bank account (SB- 4438801002963,
Sonali Bank, Bazme Quaderia Branch, Dhaka) in
the name of ICMAB Members’ Fund for Financial
Assistance has already been opened for this
purpose. ICMAB members have already started
generously contributing to this Fund directly.
Most of the members attending committee
meetings are also voluntarily contributing their
meeting fees to the MFFA. Any member willing
to make donation to MFFA can do so by directly
depositing to the abovementioned dedicated bank
account and send the scan copy of the deposit slip
to [email protected]. Members can donate the
money from any branch of Sonali Bank across the
country.
Mr. Md. Mahsudur Rahman FCMA
Achieved Bronze Medal in Japan
Mr. Md. Mahsudur Rahman, FCMA, FCA
has participated in the Asian Body Building
Championship in Japan from 5-7 June and won
“Bronze Medal”. The Gold and the Silver medals
were won by Japan and South Korea respectively.
Mr. Rahman achieved 5th position in Colombo, Sri
Lanka in the similar competitions held during the
past two years. He won the title “Mr. Bangladesh”
and also awarded the Gold medal in the mega
sports event , ‘Bangladesh Games”.
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ICMAB ANNUAL REPORT 2015
ICMAB members passed CIMA under ICMAB-CIMA MoU
As per the historic MoU signed with CIMA, the fellow members of the Institute are required to sit only
for the Strategic Case Study Examination to qualify for CIMA membership. ICMAB in co-operation with
CIMA facilitated training on Strategic Case Study (SCS) for the members interested to appear in the
examination. CIMA trainers from Srilanka conducted the trainings. In last two sessions ten members (as
given below) of ICMAB passed the SCS Examination and became eligible for the CIMA membership.
Mr. Md. Mahbubur Rahman FCMA
F-0255
Mr. Amitabha Datta FCMA
F-0557
Mr. Nikhil Chandra Shil FCMA
F-0771
Mr. Md. Enayet Hossain FCMA
F-0507
Mr. Jamal Ahmed Choudhury FCMA
F-0411
Mr. Monwar Hossain Chowdhury FCMA
F-0407
Mr. Niranjan Chandra Debnath FCMA
F-0577
Mr. Abu Sayeed Mohammed Hossain
Manwar ACMA* (A-1064)
Mir Asraful Islam FCMA
F-0774
Mr. Mahtab Uddin Ahmed FCMA
F-0414
Mr. Mohammad Shafiul Qasem FCMA
F-0739
*Mr. Abu Sayeed Mohammed
Hossain Manwar ACMA (A-
1064) has also qualified CIMA
strategic case study during
May 2015 session in the
normal route.
66
BRANCH AND CHAPTERACTIVITIES
DHAKA BRANCH COUNCIL
Annual Picnic 2014
The Annual Picnic-2014 organized by the Dhaka
Branch Council of ICMAB was held on February 20,
2015 at Priyanka Shooting Zone, Rupnagar, Mirpur,
Dhaka. More than 500 Dhaka-based members,
guests, and family members participated in the
picnic and spent the whole day with joy and
cheerfulness. Among the events important ones
are: raffle draw, housie, pillow-passing for the
babies, and children’s sports. Office Bearers of
the National Council and Office Bearers of Dhaka
Branch Council attended the enthusiastic picnic.
Homage to the Martyrs of
Language Movement
DBC of ICMAB organized a Probhat Ferry on 21st
February, 2015 in observance of Amar Ekushey
and the International Mother Language Day.
Associate and Fellow members of the Institute,
their family members, a good number of ICMAB
students and DBC staff took part in the Probhat
Ferry. Floral wreath was placed at the central
Shahid Minar to commemorate the contribution of
the brave patriots who laid down their lives for our
mother language. Mr. Md. Ali Haider Chowdhury
FCMA, Chairman of DBC led the procession, which
was also attended by the Past President of the
Institute Mr. Rafiq Ahmad FCMA.
ICMAB Students Orientation
Program
DBC of the Institute organized “Orientation
Program (January-June 2015 session)” for the
newly admitted students of ICMAB at the ICMAB
Ruhul Quddus Auditorium, Dhaka on March 23,
2015.
President of the Institute was present as the
Guest of honor. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of Dhaka Branch Council presided over
the program. Mr. S.M. Afjal Uddin FCMA, Secretary
of DBC offered welcome address. Mr. S.M. Zahir
Uddin Haider FCMA in his speech emphasized
the role of CMA in the context of present global
economy and competitive business environment.
President, ICMAB advised the students to peruse
the CMA education with dedication and sincerity.
Among others Institute’s Vice Presidents Mr. Arif
Khan FCMA, Mr. Jamal Ahmed Choudhury FCMA,
Secretary Mr. Md. Abdur Rahman Khan, Director
Lt Col Md Humayun Kabir, psc (Retd) spoke in the
program. Mr. Zillur Rahman FCMA F-0749 gave
a power point Presentation on CMA education
and profession. Ms.Susmita Parvin ACMA A-1097
conducted the program & DBC Vice Chairman Mr.
Md. Mushfiqur Rahman FCMA offered the vote of
thanks.
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ICMAB ANNUAL REPORT 2015
Reception to the Newly Qualified
CMAs
DBC organized a reception to the newly qualified
Cost and Management Accountants qualified
in (December, 2014 Exam) on March 24, 2015
at ICMAB. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of DBC presided over the program. In
the CMA December 2014 Exam 26 CMAs where
qualified and attended the program along with
their family members. They also spoke of the
hindrances in achieving their much desired CMA
degree. They were awarded a memento and a
souvenir as a token of recognition on behalf of
DBC by the Institute’s Vice-President & Secretary
Mr. Jamal Ahmed Choudhury FCMA & Mr. Md.
Abdur Rahman Khan FCMA. DBC Councilor Mr.
Mohammad Golam Sabur FCMA gave the welcome
address & conducted the program. DBC Treasurer
Monjur Md. Shaiful Azam FCMA, Secretary Mr.
S.M. Afjal Uddin FCMA, Council Members, Mr.
A.K.M. Kamruzzaman FCMA, Mr. Mohammad
Alamgir FCMA & Mr. S.M. Shawon Mahmud FCMA
also spoke on the occasion. DBC Vice Chairman
Mr. Md. Mushfiqur Rahman FCMA offered the
vote of thanks.
Reception to the newly elected
Office Bearers of ICMAB National
Council 2015 and Thanks Giving to
the Immediate Past Chairman of
DBC-2014
DBC organized “Reception to the office Bearers of
ICMAB National Council-2015 and thanks giving
ceremony to the immediate past Chairman of DBC
Mr. Md. Ali Haider Chowdhury FCMA at ICMAB
Ruhul Quddus Auditorium, ICMA Bhaban, Dhaka on
March 30, 2015. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of Dhaka Branch Council presided over
the program. Mr. S.M. Afjal Uddin FCMA, Secretary
of DBC offered welcome address. Building
interpersonal relationship and development of
fellowship was the inner theme of this program.
The function included a Cultural Show and a
fellowship dinner. Ms. Susmita Parvin ACMA
conducted the program & DBC Vice Chairman Mr.
Md. Mushfiqur Rahman FCMA offered the vote of
thanks. A large number of Dhaka-based members
enjoyed the show and attended the programs .
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ICMAB ANNUAL REPORT 2015
CMA Members Family Day Art,
I.Q. Test, Recitation & Essay
Competition 2015
DBC organized “CMA Members Family Day Art,
I.Q. Test, Recitation and Story writing competition
2015” at DBC floor on April 17, 2015. More
than eighty children of Dhaka-based members
participated in the competition. A good number of
members along with their spouses and children
attended the lively programs .
Members’ Family Day-2015 and
Celebration of Bangla New Year-
1422
DBC organized “Distribution of prizes among
the winners and participants of Children’s Art, IQ
Test, Recitation & Story Writing competition 2015,
Members’ Family Day-2015 and Celebration of
Bangla New Year-1422 at ICMAB Ruhul Quddus
Auditorium on April 24, 2015. Chairman of Dhaka
Branch Council presided over the program. Mr.
Rafiq Ahmad FCMA, Ex-President of the Institute
& Mr. Arif Khan FCMA, Vice President ICMAB were
present as the guests and they handed over the
prizes among the winners. The function included
Prize Distribution, Magic show, Raffle Draw and
Cultural Show followed by dinner. A large number
of Dhaka-based members and their family enjoyed
the show and attractive raffle draw.
Day Long Training Program on Tax
and VAT
Day Long Training program on “Tax Deduction
at Source (TDS) and VAT Deduction at Source
(VDS)” was organized by the DBC at ICMA Bhaban,
Nilkhet, Dhaka. The program was held on May 01,
2015. Resource persons of the program were Mr.
Ranjan Kumar Bhowmik FCMA, Director General,
BCS (Tax) Academy, Dhaka and Mr. Md. Mashiur
Rahman, Deputy Director, Customs Intelligence
and Investigation Directorate, National Board of
Revenue, Dhaka and Large number corporate
executives including ICMAB members attended
the training program.
Knowledge Sharing Session
on “Winning Job Interview
Techniques”
DBC organized a Knowledge Sharing Session on
“Winning Job Interview Techniques” for ICMAB
Members on May 14, 2015 at ICMA Bhaban.
Mr. S.M. Zahir Uddin Haider FCMA, Chairman
of DBC presided over the Program. Mr. Jishu
Tarafder, Chief Consultant, CORPORATECOACH,
Fellow Member, BSHRM and Mr. Riyad Hossain,
Renowned HR Professional, Fellow & Executive
Council Member, BSHRM, JCI Certified Trainer was
present as the Session Chairman & Resource
Person respectively. President of the Institute was
present as the Guest of Honor. Large numbers
of ICMAB members attented this unique and
interactive program.
DBC’s Knowledge Sharing Session
on “Tally Software”
DBC organized a 6 day training program on the
“Tally Software” for ICMAB Students on May 22,
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ICMAB ANNUAL REPORT 2015
2015 at ICMA Bhaban. A renowned tally expert Mr.
Mohammad Ishaq Ali, CEO, NIT Creative Solutions
(an authorized Tally Partner in Bangladesh) spoke
on the session as the Resource Person. A good
number of students of the Institute were present
and actively participated in the program.
Two Days Training Program on
“Secretarial Practice, Right Issue,
Initial Public Offering (IPO), Listing
& Post Listing Formalities and
Corporate Governance”
A two-day training program on “Secretarial
Practice, Right Issue, Initial Public Offering (IPO),
Listing & Post Listing Formalities and Corporate
Governance” was organized by the DBC at ICMA
Bhaban, , Dhaka. The program was held on May 22
& 23, 2015. Six technical papers were presented
by Mr. Muhammad Nazrul Islam FCMA, General
Manager - Operation, Alliance Financial Services
Ltd., Mr. A.K.A. Muqtadir FCS, Past President ICSB
and Corporate Consultant, Al-Muqtadir Associates,
Mr. Shafiqul Islam Bhuiyan, Head of Listing,
DSE, Mr. M. Hasan Mahmud, Executive Director,
Corporate Finance Department, Bangladesh
Securities and Exchange Commission and Large
number corporate executives including ICMAB
members attended the training programs.
Discussion Session on “Foreign
Currency Management -Trade
Perspective”
DBC organized a discussion on “Foreign Currency
Management -Trade Perspective” for CMAs on
May 23, 2015 at ICMA Bhaban. Mr. Joydeb Dutta
ACA, FCMA, General Manager, DBL Group spoke
on the session as the Resource Person. Large
numbers of members actively participating in the
discussions.
Four Week Long Workshop &
Training Program on “Financial
Modeling”
Four Week Long Workshop & Training Program
on “Financial Modeling” was organized by the
DBC at ICMA Bhaban during May-June, 2015.
The programs were presided over by DBC
Chairman Mr. S.M. Zahir Uddin Haider FCMA.
Seven technical sessions were conducted by Mr.
Toaha Muhammad, Renewable Energy Marketing
Specialist for “Monitoring and Assessment,
Reporting and Advisory for Selected RE Projects
of IDCOL. Large number of corporate executives
including ICMAB members attended the training
program.
Grooming Program for ICMAB
Students
DBC organized a Grooming Program “Winning Job
Interview Techniques” for ICMAB Students on May
28, 2015 at ICMAB Ruhul Quddus Auditorium. Mr.
A.H.M. Kamal ACMA, Vice President & Head of
HR Operations and performance Management,
Human Resources Division, IFIC Bank Limited
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ICMAB ANNUAL REPORT 2015
and Mr. Md. Nawshad Pervez, General Manager-
HR Division, Square Hospitals Ltd. were the
Resource Persons of the program. A good number
of students of the Institute were present and
actively participated in the program.
1st Meeting of Dhaka Branch
Advisory Committee-2015
The 1st Meeting of Dhaka Branch Advisory
Committee-2015 was held on May 30, 2015 at
5:p.m. in the Council Room of the Institute. Mr.
Md. Ishaque FCMA, Chairman of the Dhaka Branch
Advisory Committee presided over the meeting.
The participants discussed various issues and
advised 30th DBC on many aspects.
DBC Foundation Ceremony
DBC organized its Foundation Ceremony on May
30, 2015 in the ICMAB Ruhul Quddus Auditorium,
Nilkhet, Dhaka. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of DBC presided over the program.
Mr. Rafiq Ahmad FCMA, Past President and one
of the founder members of the Institute was
present as the Guest of honor. Mr. Md. Ishque
FCMA, Past President of the Institute and the
Founder Chairman of DBC and Mr. A. S. M.
Shaykhul Islam FCMA, President of the Institute
were present as guests. A large number of Past
DBC Chairmen, Members and guests joined the
program enthusiastically. All the past Chairmen
shared their experiences. The program included
Cultural Show where Mr. Rafiq Ahmad FCMA, Mr.
Mohammad Jalaluddin Khan FCMA and Mr. S.M.
Zahir Uddin Haider FCMA also performed. The
program was concluded by a fellowship dinner.
Seminar on “Organizational
Development: A Capacity Building
Approach”
DBC organized a Seminar with CPD credit on
“Organizational Development: A Capacity Building
Approach” for CMAs on June 16, 2015 at ICMA
Bhaban, Nilkhet, Dhaka. The Discussion Session
was presided over by DBC Chairman Mr. S.M.
Zahir Uddin Haider FCMA. Mr. Shawkat Hossain
FCMA, Managing Director, BD Venture Limited
was present as the Session Chairman. Mr. Naba
Krishna Muni FCMA, Director, Organizational
Capacity Building, USAID’S ACME Activity in
Bangladesh were the Resource Persons of the
program. A good number of members were
present and actively participated in the discussion
seminar.
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DBC’s Knowledge Sharing Session
on “Excelling Your Excel &
PowerPoint”
DBC organized a 4 day training program on
“Excelling Your Excel & PowerPoint” for ICMAB
Students on June 20, 2015 at ICMA Bhaban. Excel
Automation Expert Professional Trainer Mr. Md.
Nazmul Muneer conducted the session as the
Resource Person. A good number of students of
the Institute were present and actively participated
in the program.
Condolence Meeting, Millad and
Do’a Mahfil held for Late Mr. A.K.
M. Shah Alam Khan FCMA (F-
0483) & Mr. Md. Rezaul Hoque
FCMA (F-0768)
DBC arranged a Condolence Meeting and Do’a
Mahfil on June 20, 2015 at ICMAB’s DBC Floor on
the sad demise of late A.K. M. Shah Alam Khan
FCMA (F-0483) & late Md. Rezaul Hoque FCMA (F-
0768). Family members of late A.K. M. Shah Alam
Khan FCMA & late Md. Rezaul Hoque FCMA (F-
0768) were also attended the condolence program.
President of the Institute, Council Members of the
Institutes & DBC Chairman & other Councilors of
the Dhaka Branch Council spoke on the occasion.
Finally, a Millad and Do’a Mahfil followed by Iftar
was arranged and a Munajat was offered for the
salvation of the departed soul of the deceased
members.
Discussion Program on
“Integration of Professional
Accounting Bodies in Canada-
Sharing of ideas”
DBC organized a discussion Program on
“Integration of Professional Accounting Bodies
in Canada-Sharing of ideas” for CMAs on July 01,
2015 at ICMA Bhaban. Dr. Kanchan Kumar Purohit
FCMA, Professor, Accounting, Audit & Information
Technology, Conestoga College, Institute of
Technology & Advanced Learning, Canada (Former
Professor, Department of Accounting, University
of Chittagong) conducted the session as the
Resource Person. A good number of members
were present and actively participated in the
discussion session.
Discussion Session on “Business
Ethics & Role of Professional
Accountants - Guideline of the
Holy Qur’an” and “Iftar & Do’a
Mahfil-2015”
DBC organized a Discussion Session on “Business
Ethics & Role of Professional Accountants -
Guideline of the Holy Qur’an” and “Iftar & Do’a
Mahfil-2015”on July 03, 2015 at ICMA Bhaban,
Nilkhet, Dhaka. Dr. Manzur Elahi, an Islamic Scholar
was present in the program as the key Resource
Person. Among others Institute’s President, Vice-
President, Council Members and Past Presidents
of ICMAB, Past Chairmen, current office bearers
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ICMAB ANNUAL REPORT 2015
and other council members of DBC and a large
member of fellow and associate members of ICMAB
were present on the occasion. Finally, Do’a Mahfil
followed by Iftar Party was arranged and a Munajat
was offered. A large number of members & students
of the Institute were present in the program.
Two Days Workshop on MIS &
Reporting
DBC organized a 2 day Long Workshop on “MIS &
Reporting” for ICMAB Students on July 03 & 04, 2015
at ICMA Bhaban.Mr. Zillur Rahman FCMA & Ms.
Susmita Parvin ACMA, Chairmen of Dhaka Branch
Knowledge Sharing & Study Circle Committee &
Dhaka Branch Students Affairs Committee-2015
jointly hosted the program. Mr. Md. Saifur
Rahman ACMA, Bangladesh Project Support
Professional Lead, LM Ericsson Bangladesh spoke
on the session as the Resource Person. A good
number of students of the Institute were present
and actively participated in the program.
DBC’s Training Program on
“Income Tax, VAT & Customs
Duty”
Five-day long training programs on “Income
Tax, VAT & Customs” were organized by the DBC
at ICMA Bhaban, Nilkhet, Dhaka. Three training
sessions were held on July 26-30, August 09-13
& August 30 to September 03, 2015. Ten technical
sessions on Tax, Customs & VAT were conducted
in each of the three training program. Resource
persons of the training program were Mr. Ranjan
Kumar Bhowmik FCMA, Commissioner of Taxes,
NBR, Mr. Mohammed Zakir Hossain, Additional
Commissioner, NBR, Mr. Md. Abdur Rahman
Khan FCMA, Deputy Secretary, Finance Division,
Ministry of Finance , Mr. Khaled Mohammed Abu
Hossain, Additional Commissioner, NBR, Mr. A. K.
M. Mahbubur Rahman, Additional Commissioner,
NBR, , Mr. Kamrul Hoque Maruf ACMA, Joint
Director, Central Intelligence Cell, NBR, Mr. Md.
Mashiur Rahaman ACMA, Deputy Director, NBR
& Mr. Ahsan Habib, Additional Commissioner of
Taxes , NBR. Large number corporate executives
including ICMAB members attended the training
programs.
Reception to the Newly Qualified
CMAs
DBC organized a reception to the newly qualified
Cost and Management Accountants (qualified
in April, 2015 Exam) on August 01, 2015 at Euro
Asiano Restaurant, Ramna Park, Ramna, Dhaka.
Mr. S.M. Zahir Uddin Haider FCMA, Chairman of
DBC presided over the program, while Mr. Md.
Abdur Rahman Khan FCMA, Secretary of the
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ICMAB ANNUAL REPORT 2015
Institute was present as the Guest of Honour.
33 newly qualified CMAs attended the program
along with their family members. They shared
their experience, feeling and expections with the
audiences. DBC awarded a memento and a small
souvenir to all the new CMA family members as
a token of recognition and appreciation. A good
numbers of members including past president,
National Council members and Dhaka Branch
Council members attended the program which
ended with a fellowship dinner.
Knowledge Sharing Session on
“Change Your Life at Your Will”
DBC organized a Knowledge Sharing Session
on “Change Your Life at Your Will” for CMAs on
August 05, 2015 at room # 701 of ICMA Bhaban,
Nilkhet, Dhaka. Mr. Abdul Alim Munshi FCMA,
Chief Financial Officer, Fiber@Home Ltd. spoke
on the session as the Resource Person. A good
number of members were present and actively
participated in the discussion session.
Eid-Reunion, Cultural Night and
Fellowship Dinner
DBC organized “ Eid-Reunion, Cultural Night
and Fellowship Dinner” on August 07, 2015 in
the ICMAB Ruhul Quddus Auditorium, Nilkhet,
Dhaka. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of DBC presided over the program.
Mr. A. S. M. Shaykhul Islam FCMA, President of
the Institute was present as the Guest of honor.
Mr. Mohammad Alamgir FCMA, Chairman, DBC
Seminar & Conference Committee 2015 offered
the welcome address. A large number of Past
DBC Chairmen, Members and guests joined the
program enthusiastically. Mr. Zillur Rahman FCMA,
Chairman of Dhaka Branch Knowledge Sharing
& Study Circle Committee-2015 conducted the
program. DBC Vice Chairman Mr. Md. Mushfiqur
Rahman FCMA offered the vote of thanks. The
program was followed by colourful Cultural Show
and fellowship dinner.
Workshop on “Internship Report
Writing”
DBC organized a Workshop on “Internship Report
Writing” for recently qualified CMAs on August
11, 2015 at ICMA Bhaban, Nilkhet, Dhaka. Mr.
Nikhil Chandra Shil FCMA, Assistant Professor,
East West University conducted the session as
the Resource Person. A good number of newly
qualified CMAs of the Institute were present and
actively participated in the program.
Workshop on “Finance
Leadership”
DBC organized a Workshop on “Finance
Leadership” for CMAs on August 12, 2015 at ICMA
Bhaban, Nilkhet, Dhaka. Mr. Mohammad Nizam
Uddin FCMA, Head of Business Finance, Group
Function at Ericsson Head Office, Stockholm,
Sweden was present as the Resource Person. A
good number of members and students were
present and actively participated in the workshop.
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ICMAB ANNUAL REPORT 2015
DBC Outbound Workshop on
“Leadership Excellence”
Two-day workshop on “Leadership Excellence”
was organized by the DBC at CCDB HOPE
Foundation, Ashalia, Savar, Dhaka on August 14 &
15, 2015. Resource persons of the programs was
Mr. Jishu Tarafder, a renowned Leadership Trainer,
Motivational Presenter and Corporate Coach. A
Large number of ICMAB members participated
this unique and very attractive training program.
Knowledge Sharing Session on
“Advanced Use of Excel”
DBC organized a Knowledge Sharing Session
on “Advanced Use of Excel” for CMAs on August
27, 2015 at ICMA Bhaban. A good number of
members were present and actively participated
in the session.
Inauguration Ceremony of DBC
Indoor Games Competition-2015
DBC organized “Inauguration of DBC Indoor Games
Competition-2015” for its members and spouses
at the Member’s corner, ICMA Bhaban, Dhaka. Mr.
Jamal Ahmed Choudhury FCMA & Mr. Md. Abdur
Rahman Khan FCMA, Vice President & Secretary
of the Institute respectively jointly inaugurated
the inaugural ceremony of the competition on
August 30, 2015. They were accompanied by DBC
Chairman Mr. S.M. Zahir Uddin Haider FCMA.
A large number of members along with Mr.
Md. Mushfiqur Rahman FCMA & Mr. S.M. Afjal
Uddin FCMA, Vice Chairman & Secretary of DBC
respectively were also present in the occasion. A
few games particularly the Billiard, Carom, Table
Tennis and Card Game were inaugurated during
that occasion.
Certificate Distribution Ceremony
of DBC Leadership Excellence 2015
DBC organized “Certificate Distribution Ceremony
of DBC Leadership Excellence 2015” at ICMA
Bhaban on August 30, 2015. Mr. S.M. Zahir
Uddin Haider FCMA, Chairman of DBC presided
over the program. DBC Professional Grooming &
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ICMAB ANNUAL REPORT 2015
Counseling Committee Chairman Mr. Mohammad
Golam Sabur FCMA, gave the welcome address
and conducted the program. Mr. Jamal Ahmed
Choudhury FCMA, Mr. Md. Abdur Rahman Khan
FCMA & Prof. Dr. Swapan Kumar Bala FCMA, Vice
President, Secretary & Treasure of the Institute
respectively were present in the program as the
Guests and distributed Certificates among the
participants. Mr. Md. Mushfiqur Rahman FCMA,
Vice Chairman of DBC offered the Vote of thanks.
A large number of members of the Institute were
present in the program.
DBC Outbound Workshop on
“Leadership with Emotional
Intelligence!”
DBC organized a two-day workshop on
“Leadership with Emotional Intelligence!” at
Hotel Sea Palace, Cox’s Bazar during October 09
& 10, 2015. Resource persons of the program
were Mr. Moinuddin Chowdhury, Lead Visionary
& Chief Executive Officer, Society for Leadership
Skills Development (SLSD) & Ms. Humaira Afreen,
Freelance HRD Consultant, Society for Leadership
Skills Development (SLSD). A Large number of
ICMAB members participated in the training
program. Prof. Dr. Swapan Kumar Bala FCMA,
Treasurer of the Institute joined the program as
the Guest of honour.
ICMAB Students Orientation
Program
DBC organized “Orientation Program (July-
December 2015 session)” for the newly admitted
students of ICMAB at the ICMAB Ruhul Quddus
Auditorium on October 29, 2015.
The program was divided in two parts. One part
was inaugural session and other one was technical
session (Education system & Examination
system). Mr. Jamal Ahmed Choudhury FCMA, Vice
President & Chairman, Education Committee of
the Institute was present as the Guest of Honor
and Mr. Md. Kausar Alam FCMA, Group CFO of
Rahimafrooz (Bangladesh Ltd.) was present as
the special guest in the 1st part. Mr. Mohammad
Alamgir FCMA, Chairman of DBC Seminar &
Conference Committee presided over the session
and offered welcome address. Mr. Md. Kausar
Alam showed a roadmap to the new students.
Mr. Jamal Ahmed Choudhury FCMA, focused on
education and examination support from the
Institute and also the path to other International
professional qualifications through CMA.
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ICMAB ANNUAL REPORT 2015
The second part was technical session where
Mr. Arif Khan FCMA, Honorable Vice President &
Chairman, Examination Committee was present
as the Guest of Honor and Mr. Md. Abdur Rahman
Khan FCMA, Secretary of ICMAB & Mr. Md.
Maksudur Rahman FCMA, Director of EDISON
Group was present as the special guests. Mr.
S.M. Zahir Uddin Haider FCMA, Chairman of Dhaka
Branch Council presided over the 2nd session.
Mr. Arif Khan FCMA in his speech appreciated
the focused role of Cost and Management
Accountants for the economic development of the
country. He advised the students to pursue the
CMA education with dedication and sincerity.
Mr. Zillur Rahman FCMA F-0749 gave a power point
Presentation on CMA education and profession.
Ms. Susmita parvin ACMA A-1097 conducted the
program & DBC Vice Chairman Mr. Md. Mushfiqur
Rahman FCMA offered vote of thanks.
Prayer (Do’a) for ICMAB’s Founder
President Late Ruhul Quddus &
for Syed Ahsan Habib
DBC organized a Prayer (Do’a) for ICMAB’s Founder
President Late Ruhul Quddus (F-001) & for Syed
Ahsan Habib (F-0505) on November 05, 2015
at DBC Floor, ICMAB, Dhaka. DBC Chairman Mr.
S.M. Zahir Uddin Haider FCMA presided over the
program and gave a brief overview of the checkered
life-sketch of the founder President and pioneer
of CMA profession Mr. Ruhul Quddus. Institute’s
President Mr. A.S.M. Shaykhul Islam, FCMA was
present in the program as the principal speaker.
Among others, Past Presidents of the Institute
Mr. Rafiq Ahmad FCMA & Prof. Mamtaz Uddin
Ahmed FCMA, Secretary of the Institute Mr. Md.
Abdur Rahman Khan FCMA spoke on the different
aspects of dedication of Mr. Ruhul Quddus FCMA
& Syed Ahsan Habib. Council Members and
Past Presidents of ICMAB, current office bearers
and other council members of DBC and a large
member of fellow and associate members and
officials of the Institute attended and prayed for
the salvation of the departed souls.
2 day Long workshop on SAP
DBC organized a 2 day Long Workshop on “SAP”
for ICMAB Students on November 11 & 12, 2015 at
ICMA Bhaban, Dhaka. Mr. S.M. Zahir Uddin Haider
FCMA, Chairman of DBC presided over the program.
Mr. A.S.M. Shaykhul Islam FCMA, President of the
Institute Present in the program as the Guest
of Honor. Mr. Zillur Rahman FCMA Chairman of
Dhaka Branch Knowledge Sharing & Study Circle
Committee gave the well come address and
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ICMAB ANNUAL REPORT 2015
conducted the program, while Mr. Mohammed
Salim FCMA, Past President, ICMAB, Mr. Arif Khan
FCMA, Vice-President of ICMAB, Mr. Md. Shafiqul
Alam FCMA, Group CFO & Company Secretary,
Superstar Group, Mr. Md. Rajib Imran, Director,
Exzatech Solutions Ltd. and Mr. Subhajyoty
Ganguly, Managing Director, Exzatech Solutions
Ltd. spoke on the session as the special Guests.
A good number of students of the Institute were
present and actively participated in the program.
Knowledge Sharing Session on
“Public Financial Management
Umbrella: Government Fund Flow
& Accounting System”
DBC organized a Knowledge Sharing Session
on “Public Financial Management Umbrella:
Government Fund Flow & Accounting System”
for CMAs on November 12, 2015 at ICMA Bhaban,
Nilkhet, Dhaka. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of DBC presided over the Program.
Mr. A.S.M. Shaykhul Islam FCMA, President of
the Institute was present as Guest of Honor.
Professor Dr. M. Harunur Rashid, Chairman,
BAC International- Collaborative Partner, Derby
University, UK and Mr. Mohammad Ruhul Quddus
ACMA Accounts Specialist, The World Bank, Dhaka
was present as Session Chairman & Resource
person of the program. Mr. Mohammad Alamgir
FCMA, Chairman of Dhaka Branch Seminar &
Conference Committee offered the welcome
address and introduced the Resource Person.
Mr. Mohammad Golam Sabur FCMA, Chairman
of Dhaka Branch Professional Grooming &
Counseling Committee-2015 conducted the
program and offered the vote of thanks. A good
number of members were present and actively
participated in the session.
In Remembrance of Late Biswajit
Roy FCMA (F-0327)
DBC arranged In Remembrance of Late Biswajit
Roy FCMA (F-0327) on November 14, 2015 at
ICMAB’s DBC Floor, Dhaka. Mr. A.S.M. Shaykhul
Islam FCMA, President of the Institute, Past
President Mr. Rafiq Ahamad FCMA, Fellow
member of the Institute, DBC Chairman Mr. S.M.
Zahir Uddin Haider FCMA spoke on the occasion.
Finally, a Millad and Do’a Mahfil were arranged
and a Munajat was offered for the salvation of the
departed souls of the deceased member.
Knowledge Sharing Session on
“Multiply your Capital in the
Capital Market”
DBC organized a Knowledge Sharing Session on
“Multiply your Capital in the Capital Market” for
CMAs on November 28, 2015 at ICMA Bhaban,
Dhaka. Mr. S.M. Zahir Uddin Haider FCMA,
Chairman of DBC presided over the Program.
Professor Dr. Swapan Kumar Bala FCMA, Managing
Director, Dhaka Stock Exchange Ltd., Mr. Md.
Mahbub Hossain Mazumdar FCMA Chief Executive
Officer, AFC Capital Ltd. (Merchant Bank), and Mr.
Mohammed Rahmat Pasha CEO, BRAC EPL Stock
Brokerage Ltd. were present as Session Chairman,
Commentator & Resource person of the program.
Mr. Mohammad Alamgir FCMA, Chairman of
Dhaka Branch Seminar & Conference Committee
offered the welcome address and introduced the
Resource Person. Mr. Mohammad Golam Sabur
FCMA, Chairman of Dhaka Branch Professional
Grooming & Counseling Committee-2015
conducted the program. DBC Vice-Chairman Mr.
Md. Mushfiqur Rahman FCMA offered the vote of
thanks. A good number of members were present
and actively participated in the session.
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ICMAB ANNUAL REPORT 2015
PHOTO GALLERY
DBC’s 2 day Long Workshop on “SAP” on November 11 & 12, 2015
Prayer (Do’a) for ICMAB’s Founder President Late
Ruhul Quddus
Knowledge Sharing Session on “Public Financial Management Umbrella: Government Fund Flow
& Accounting System” on November 12, 2015
Knowledge Sharing Session on “Multiply your Capital in the Capital
Market” on November 28, 2015
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ICMAB ANNUAL REPORT 2015
CHITTAGONG BRANCH COUNCIL
Eid-E-Miladunnabi (SM) observed
by CBC of ICMAB
CBC celebrated the holy Eid-e-Miladunabi (SM)
and offered Doa Mahfil on 16th January, 2015 at
CMA Bhaban, Agrabad, Chittagong. The members
who attended in the program discussed on the
holy life of the great Prophet Hazrat Muhammad
(SM) and the ideals and teachings of Islam. The
discussion was followed by a Milad Mahfil with
due religious fervor, festivity and solemnity. Hafez
Mowlana Md. Ismail led the Munajat seeking
the blessings of Almighty Allah for peace and
prosperity of the CMA family & Muslim Ummah.
Doa was also offered for the soul of the ICMA
members & Muslim Ummah who were previously
deceased.
CBC Observed Shaheed Dibash &
International Mother Language
Day
CBC observed Amor Ekushey February &
International Mother Language Day on Saturday
the 21st February, 2015. Mr. Mohammed
Monoarul Hoque FCMA, Chairman, Chittagong
Branch Council and Chittagong based Fellow and
Associate Members participated in Provat Ferry
towards Chittagong Central Shaheed Minar and
presented Flower Bouquets to commemorate the
contribution of the brave language patriots who
sacrificed their lives for the Bangla language. The
program ended with a discussion session on the
great day of 21st February & international mother
language day.
CBC Cruise-2014 at Karnafully to
Kutubdia Channel.
CBC for the first time arranged a day long Cruise
for its members, their spouses, children and
parents which covered Karnafully, Chandragona
& Outer Anchorage of Kutubdia Channel on 27th
February, 2015. The program started at 8.30 a.m.
from Chittagong Boat Club, Patenga and ended at
6.00 p.m. at the same place. CBC hired a luxury
Cruise ship operated by Western Cruise. The cruise
gave the best view of the marvelous landscape,
the wave of bay and sunset in the Bay of Bengal
with other natural sceneries. Mr. Jamal Ahmed
Choudhury FCMA, Vice- President and his spouse
enjoyed the Cruise along with CMA family (based
in Chittagong Cruise participants whole heartedly
praised Mr. Mohammed Monoarul Hoque FCMA
, Chairman, & Mr. Golam Kibria ACMA, Secretary,
CBC for arranging such a nice program. .
Students Orientation Program in
Chittagong
The Students Orientation Program of Foundation
Level for January-June, 2015 session of Chittagong
Branch of ICMAB was held on 7th March 2015 at
CMA Bhaban, Chittagong. Mr. Abu Sayed Md.
Shaykhul Islam, FCMA, President, ICMAB was
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ICMAB ANNUAL REPORT 2015
present on the occasion as Chief Guest. Mr. Md.
Abdur Rahman Khan, FCMA, Secretary & Prof.
Dr. Swapan Kumar Bala, FCMA, Treasurer ICMAB
was present as Special Guests. Mr. A. K. M.
Delwer Hussain, FCMA, Past President & Mr. Md.
Mamunur Rashid, FCMA member of the National
Council was also present in the occasion. The
function was presided over by Mr. Mohammed
Monoarul Hoque, FCMA, Chairman, CBC where large
numbers of Chittagong based members including
past president Mr. Mohammed Mohiuddin FCMA
and students overwhelmingly participated in the
program.
Reception program of Office
Bearers & Members of the 15th
Council
A program on reception to the Office Bearers of
National Council and discussion on professional
matters was held on 7th March’ 2015 at CMA
Bhaban, Chittagong. In the welcome speech, Mr.
Mohammed Monoarul Hoque, FCMA Chairman,
CBC congratulated the newly elected office
bearers and raised a number of issues regarding
the development of CMA profession in general and
Chittagong Branch in particular. A large number of
fellow & associate members of Chittagong Region
also actively took part in the discussion and made
their valuable suggestion for the development of
CMA profession. Mr. A S M Shaykhul Islam, FCMA ,
President, ICMAB expressed his gratefulness to all
the Fellow and Associate Members to elect him as
the President of the Institute and assured his all-
out support and co-operation to the Chittagong
Branch.
CPD on “Value Based
Management : an approach to
maximize shareholder value”
CBC organized CPD on 28th March’ 2015 on “Value
Based Management: an approach to maximize
shareholder value” at CMA Bhaban, Chittagong.
Mr. Emon Kalyan Chowdhury, Assistant Professor,
Premier University, Chittagong presented the
paper. Mr. Mohammed Mohiuddin, Past President
ICMAB & Managing Director, Island Securities
Ltd. attended the Program as Session Chairman.
The Program was presided over by the Chairman
of CBC Mr. Mohammed Nazmul Hoque, FCMA.
A good number of Chittagong based Fellows
and Associates members actively took part in a
discussion & Q&A session on the program.
CBC Observed Pahela
Baishak-1422 & CMA Family
Night-2015
CBC has celebrated Pahela Baishak-1422 &
CMA Family Night-2015 on April 17, 2015 at
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ICMAB ANNUAL REPORT 2015
CMA Bhaban,, Chittagong. The Program started
with the various programs including children’s
memory test, art competition, game for spouses
and members. Prizes were distributed among the
winners after every event. CBC past Chairman Mr.
Md. Rafiqul Alam, FCMA and two local renowned
artists perform in this occasion. The Cultural
program was followed by a delicious Baishaki
dinner.
Discussion on Professional
Matters with the President, ICMAB
CBC arranged a discussion program on 23rd May,
2015 with Chittagong based members of the
Institute. President, ICMAB was present in the
program as Chief Guest. Mr. M. Mohiuddin, FCMA
Past President, ICMAB attended the Program as
Guest of honor. Address of welcome was given by
Mr. Mohammed Nazmul Hoque, FCMA, Chairman,
CBC. A good number of Fellow & Associate
members of Chittagong region of the Institute
attended the discussion program. The Chief Guest
in his speech assured that he will extend all kind
of support and cooperation for the development &
welfare of Chittagong Branch.
CPD Program on “Financial
Reporting Practices & Role of
Accountants”
CBC organized a CPD Program on 23rd May
2015 on “Financial Reporting Practices & Role
of Accountants” at CMA Bhaban, Chittagong. Mr.
Mohammed Nazmul Hoque, FCMA Chairman,
Chittagong Branch Council of ICMAB presided over
the Program. Mr. A.S.M. Shaykhul Islam, FCMA
President, ICMA Bangladesh was present on the
occasion as chief guest. Mr. Ahmed Dawood, FCA,
FCMA Past chairman, CBC & CRO, Chittagong Stock
Exchange Ltd. presented the paper. The ICMAB
president congratulated the Chittagong Branch
Council for its outstanding initiatives for the
professional development & thereby upholding
the image of the institute. Mr. Md. Shaifur Rahman
Mazmumder, FCA, FCMA, Executive Director,
Meenhar Group of Industries was present in the
program as the Session Chairman.
CPD Program on “Proposed
National Budget 2015-2016”
CBC organized a CPD Program on the topic of
“Proposed National Budget 2015-2016” on
13th June 2015 at CMA Bhaban, Chittagong. Mr.
Mohammed Nazmul Hoque, FCMA Chairman, CBC
presided over the Program. Mr. Muzaffar Ahmed,
FCS, FCMA, Past President, ICMAB and President &
CEO of Credit Rating Information and Services Ltd
was present on the occasion as Chief Guest while
Prof. Dr. Swapan Kumar Bala, FCMA, Treasurer,
ICMA Bangladesh & Managing Director, Dhaka
Stock Exchange Ltd. was present in the program
as Special Guest. Mr. Mohammed Monoarul
Hoque FCMA Past Chairman, CBC & Director
Finance, Asian University for Women, Chittagong
presented the paper on the occasion.
Mr. Md. Shaifur Rahman Mazmumder FCA, FCMA
was present as the discussant and Mr. Mohammed
Mohiuddin FCMA Past President, ICMAB attended
the program as Session Chairman.
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ICMAB ANNUAL REPORT 2015
CPD Program on “Foreign Trade
Funding, Opportunities, Rules &
Regulations” & Iftar Mahfil.
CBC organized a CPD Program on 11th July, 2015
on “Foreign Trade Funding, Opportunities, Rules &
Regulations” at Melange Restaurant, Chittagong.
Mr. Mohammed Nazmul Hoque, FCMA Chairman,
Chittagong Branch Council of ICMAB presided over
the Program. Mr. Mohammad Roshangir, Deputy
Managing Director & Zonal Head, Bank Asia
Limited, Chittagong attended the occasion as Chief
Guest. Mr. Imtiaz Alam, ACA, FCMA, Ex-Chairman,
CBC presented the paper. Prof. Dr. Saleh Jahur,
Department of Finance & Banking, University
of Chittagong was present in the program as
discussant. Prof. Dr. Md. Salim Uddin, FCA, FCMA
attended the program as Session Chairman. The
program was conducted by CBC Secretary, Qazi
Meraz Uddin Arif, FCMA, and vote of thanks was
offerred by Mr. Mohammed Nurul Huda Siddiquee,
FCMA, Vice Chairman, CBC.
Projection Meeting on CMA
Profession held on August-31,
2015 at Premier University,
Chittagong
CBC arranged a Projection Meeting on CMA
Profession at Premier University, Chittagong on
August 31, 2015. Mr. M. Moinul Haque, Assistant
Dean, Faculty of Business Studies was present
in the program as Session Chairman. Prof.
Dr. Moazzam Hossain, Chairman, Finance &
Accounting Department, Mr. Sujit Kumar Biswas,
Chairman, Management Department, Ms. Sadia
Akter, Chairman, Marketing Department was
present as special guest. The Program was
presided by Mr. Mohammed Nazmul Hoque,
FCMA Chairman, Chittagong Branch Council while
address of welcome was given by CBC Secretary,
Qazi Meraz Uddin Arif, FCMA.
Mr. Nikhil Chandra Shil, FCMA, Associate
Professor, Department of Business Studies, East
West University was the Key note speaker of the
program. He presented the paper in a sophisticated
way that students of BBA/MBA get a pathway of
their carrier and can make a well thought decision
about their future.
Class Orientation of ICMAB,
Chittagong Branch
The class orientation program of Knowledge &
Business Level for July-December, 2015 session,
of Chittagong Branch of the Institute of Cost and
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ICMAB ANNUAL REPORT 2015
Management Accountants of Bangladesh (ICMAB)
was held on 6th October 2015 at CMA Bhaban,
Agrabad, Chittagong. Mr. Mohammed Nazmul
Hoque, FCMA, Chairman, CBC presided over the
Orientation Program. Mr. Abu Sayed Md. Shaykhul
Islam, FCMA, President, ICMAB was present in
the occasion as Chief Guest & Mr. M. Abul Kalam
Mazumder, FCMA, Prof. Mamtaz Uddin Ahmed,
FCMA, Mr. A. K. M. Delwer Hussain, FCMA & Mr.
Mohammed Salim, FCMA, past presidents of
ICMAB were present as Special Guests.
CPD Program on “CIMA Strategic
Case Study - Preparation &
Procedure
CBC organized a CPD program on “CIMA Strategic
Case Study - Preparation & Procedure” on
Thursday 08th October 2015, at 6.30 pm at CMA
Bhaban, Agrabad, Chittagong. Chairman, CBC
presided over the Program and Mr. Zillur Rahman,
FCMA, Chairman, Wisdom for Welfare Foundation,
Dhaka presented the paper. Prof. Dr. Swapan
Kumar Bala, FCMA, Treasurer, ICMAB attended
the program as Chief Guest while Mr. S. M. Zahir
Uddin Haider, FCMA, Chairman, DBC attended the
program as Special Guest.
CPD Program on “Financial
Reporting Act-2015”
CBC organized a Continuing Professional
Development (CPD) Program on “Financial
Reporting Act-2015” on 14th November, 2015
at CMA Bhaban, Chittagong. The paper was
presented by Mr. Ahmad Dawood FCA, FCMA
Mr. Md. Shaifur Rahman Mazumdar FCA, FCMA
conducted the program as Session Chairman.
The paper presenter described various aspects
of Financial Reporting Act-2015 in his paper and
gave suggestions for improving active role of
professional Accountants.
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ICMAB ANNUAL REPORT 2015
PHOTO GALLERY
CPD Program on Foreign Trade Funding, Opportunities
on July 11, 2015
CBC observed Pahela Baisakh-1422
Discussion Session on Professional Matters on March 07, 2015
Inauguration of Center for Cost Audit and Management Consultancy at Chittagong on October 06, 2015
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ICMAB ANNUAL REPORT 2015
KHULNA BRANCH COUNCIL
Do’a Mahofil
A Do’a and Milad Mahofil was arranged by
Khulna Branch Council for the eternal peace of
the departed soul of Md. Mokbul Ahmed, FCMA,
the immediate past Chairman of Khulna Branch
Council, on 29 January, 2015. All members, Officers,
Staff & Students participated in the occasion.
Homage to the Martyrs of
Language Movement
ICMAB Khulna Branch observed the “Amor
Ekushey” & International Mother Language day
on 21st February, 2015. To observe the occasion
the members of the Khulna region, officials and
students of Khulna Branch participated in the
probhat Feri towards Shahid Minar, located at
Khulna Hadis Park and presented flowers bouquet
to commemorate the contribution of the brave
martyrs who sacrificed their lives for our mother
language.
Student Orientation Program
ICMAB, Khulna Branch arranged an Orientation
Program for newly admitted Students of January-
June 2015 session held on 27 February, 2015 at
CMA Bhaban, Khulna. Prof. Kalipada Mozumder,
Principal, Azam Khan Govt. Commerce College,
Khulna was present in the occasion as special
guest. The function was presided over by Mr. Md.
Alauddin Akanda FCMA, Chairman, Khulna Branch
Council. A good number of members as well as
newly admitted students and senior students
attended the program.
KBC Family Day-2015
KBC arranged Family Day-2015 on February 27,
2015 at CMA Bhaban, Khulna. A good number of
Fellow and Associate Members of Khulna along
with their spouses and children were present in
the program.
Annual Picnic 2015 of ICMAB
Khulna Branch
ICMAB Khulna Branch arranged its day-
long colorful Annual Picnic ‘’Expedition
Sundarban-2015’’ by a luxurious ship on 20 March
2015. Fellow and Associate Members, Employees,
Students of Khulna region and their Families
joined the Picnic. About 150 participants attended
the program.
Seminar on CMA Profession and
Career Development
A seminar on CMA profession and career
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ICMAB ANNUAL REPORT 2015
development held on June 10, 2015 at CMA
Bhaban, Khulna. Mr. Naba Krishna Muni, FCMA,
spoke in the seminar as a resource parson. Mr.
Ratan Kumar Debnath, FCMA, Chaired on the
occasion. Fellow and associate members, huge
number of the students attended in the seminar.
Ifter and Do’a Mahfil
KBC arranged an Ifter and Do’a Mahfil on June 26,
2015 at CMA Bhaban, Khulna. On the occasion
doa was made for the development of the CMA
profession as well as the Country and the Nation.
Mr. Ratan Kumar Debnath, FCMA, Chairman KBC,
Fellow and Associate members of Khulna Branch,
Principal and all departmental head of Azam
Khan Govt. Com. College, officer and staff and a
good number of students of Khulna Branch were
present in the program.
Seminar on CMA Profession and
Career Development
KBC organized a seminar on CMA Profession and
Career development on 26/08/2015 at Commerce
faculty of Govt. Brajalal University College,
Daulatpur, Khulna. About 300 students attended
and took part in the discussion. Prof. Md. Shafiul
Azam, Head of Management Department and
Prof. Rabiul Islam spoke in the meeting. Mr.
Ratan Kumar Debnath, FCMA Chairman, KBC, Mr.
S. M. Zakir Hossain, ACMA, Secretary, KBC also
spoke about ICMAB. Mr. Ashok Kumar Debnath,
FCMA Vice-Chairman, KBC and Mr. Md. Alauddin
Akanda, FCMA, Advisor were also present on the
occasion.
Seminar on Organizational
Development – A Capacity Building
Approach
ICMAB Khulna Branch arranged a seminar on
Organizational Development – A Capacity Building
Approach on 3 September, 2015 at CMA Bhaban,
Khulna at 7:00pm. Mr. Ratan Kumar Debnath
FCMA, Chairman, KBC was present in the seminar
as Chairperson, Mr. Naba Krishna Muni FCMA
was present in the seminar as Resource Person.
Mr. Md. Alauddin Akanda FCMA, Advisor ICMAB
Khulna Branch, Mr. Ashok Kumar Debnath FCMA,
Vice-President, Mr. S. M. Zakir Hossain ACMA,
Secretary, Mr. Sheikh Ziaul Islam, ACMA, Treasurer
KBC and Mr. Abdul Motaleb ACMA and a good
number of Fellow & Associate members and
students attended the seminar.
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ICMAB ANNUAL REPORT 2015
Orientation Program
ICMAB, Khulna Branch Council arranged an
Orientation Program for newly admitted Students
of July-December 2015 session was held on 21
November 2015 at CMA Bhaban, Sonadanga
Khulna. The function was presided over by Mr.
Ratan Kumar Debnath FCMA, Chairman, Khulna
Branch Council of ICMAB. Mr. Mohammed Salim
FCMA, Past-President and Council Member of
ICMAB was present in the occasion as Chief Guest
and Prof. Md. Mizanur Rahman, Principal, Azam
Khan Govt. Commerce College attend the function
as special Guest. Mr. Chancal Kumar Saha FCMA
past Chairman of KBC, Mr. Ashok Kumar Debnath
FCMA Vice-Chairman, Mr. S.M. Zakir Hossain
ACMA Secretary, Mr. Sheikh Ziaul Islam ACMA
Treasurer of KBC and Mr. Alauddin Akanda FCMA
Adviser of Khulna Branch were presents the
program.
A good number
of Khulna based
fellow and associate
members as well
as newly admitted
students and senior
students attended the
program.
Views exchange meeting with
Past President & Khulna Branch
Council Members
Khulna Branch Council (KBC) arranged a views
Exchange meeting with Mr. Mohammed Salim
FCMA, Past President & Council Member of
ICMAB National Council on 21 November 2015 at
CMA Bhaban, Sonadanga, Khulna. In the meeting
the Members of Khulna Branch council informed
different problems of Khulna branch to Mr. Salim
and he listen to the problems very patiently and
assure them to solve this very soon. They also
discuss about the CMA Profession in different
issue and new syllabus curriculum. Mr. Ratan
Kumar Debnath FCMA, Chairman, KBC was
present along with his councilors.
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ICMAB ANNUAL REPORT 2015
ICMAB CANADA CHAPTER
Annual Picnic 2015
Canada Chapter of ICMAB organized Picnic 2015 on
8 August 2015 Adams Park Toronto. The day long
program contained various colorful program. Most
of the members including their family residing in
Toronto participated in the picnic.
CPD Program on SAP and Chapter
Night 2015
21 Nov 2015 Chapter Night was organized at
the Party Centre at Massey Square in Toronto
Scarborough area. The colorful program was
participated by most of the members residing in
Toronto.
Besides the above programs Canada Chapter
organized a CPD program on SAP financial
module. CPD was conducted by Mr. Nayeem Ali
Kadre ACMA.
In addition to that ICMAB National Council Member
Mr. AKM Delwer Hossain FCMA visited Toronto
along with Chairman and Deputy Managing
Director of Rupali Bank Ltd. Chapter organized an
open discussion program at a Local Restaurant.
ICMAB UK CHAPTER
Social Event by ICMAB UK Chapter
Council
ICMAB UK Chapter Council recently organized a
social event where most of the members residing
in and around London participated.
Regular Meetings on Profession
Matters
ICMAB UK Chapter Council arranged regular
meetings to share opportunities and experience
both formally and informally.
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ICMAB ANNUAL REPORT 2015
Audited Annual Accounts
The Annual Accounts of the Institute for the year ended June 30, 2015 has been presented in this report.
As you will find, total revenue receipt is Tk. 1005.46 lakh as against Tk. 961.57 lakh of prior year. Our grant
from government has increased by Tk. 35.50 lakh in 2015-16 fiscal year. Donation received from different
organizations for Renovation & External Elevation works for ICMA Bhaban Tk. 70.02 lakh has been directly
added with the general fund of the Institute. Income from subscription and fees from students has increased
by 82.87 lakh mainly due to higher enrollment of students in this period. The expenses related to Seminar &
Conference has reduced to Tk. 100.22 lakh from Tk. 122.97 lakh of previous period.
The net surplus of income over Expenditure in this year stood at Tk. 117.24 lakh against last years’ surplus of
Tk. 109.08 lakh.
Acknowledgement
The Council gratefully acknowledges and keep on record the co-operation, sincere assistance and support
received from the esteemed members of the Institute. The Council also acknowledges the services, the time
and energy given by the members of the different Committees and Sub-Committees in discharging their
responsibilities and duties.
The Council expresses gratitude to the Government nominees in the Council for their continued support,
assistance and guidance. It also has words of appreciation for the Branch Councils of Dhaka, Chittagong,
Khulna, UK, KSA and Canada Chapter for their brilliant activities and also for co-operation extended to the
National Council.
We recall with appreciation the persistent support we have received from different ministries particularly
the Ministry of Commerce, Finance, Industries, Planning, Law, ICT; BSEC, DSE, CSE, CAG, RJSC, NBR and other
Government agencies we have interacted with. The council would like to express gratitude to each of them.
The Council is indebted to the authority of the Govt. Victoria College for their co-operation and assistance
in allowing the Institute to conduct Coaching Classes and Examinations in its premises. The Council also
indebted to different educational institutes such as Eden Mohila College, Dhaka, Brazalal College, Khulna,
Daffodil University, Dhaka, American International University of Bangladesh, Dhaka and Premier University,
Chittagong for their all out cooperation for the development of CMA profession. The Council is indebted to the
print & electronic media for their wide coverage of the Institute’s activities.
There is no denying the fact that, as always, this year too, the officials of the Institute have carried out the
entrusted jobs and deserve appreciation. Some of them have given extra ordinary effort under great pressure.
The Council hopes that they will keep up their style of performance.
ACCOUNTS AND OTHERS
Md. Abdur Rahman Khan FCMA Secretary
ASM Shaykhul Islam FCMAPresident
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ICMAB ANNUAL REPORT 2015
AnNexure 1
LIST OF STANDING COMITTEES
Executive Committee Mr. A S M Shaykhul Islam FCMA F-0192 Chairman
Mr. Arif Khan FCMA F-0304 Member
Mr. Md. Abdur Rahman Khan FCMA F-0305 Member
Prof. Dr. Swapan Kumar Bala FCMA F-0328 Member
Mr. Mohammed Salim FCMA F-0218 Member
Executive Director/Director Secretary
Education Committee Mr. Jamal Ahmed Choudhury FCMA F-0411 Chairman
Mr. Md. Abdur Rahman Khan FCMA F-0305 Member
Mr. M. Abul Kalam Mazumdar FCMA F-0103 Member
Prof. Mamtaz Uddin Ahmed FCMA F-0191 Member
Mr. Md. Mamunur Rashid FCMA F-0314 Member
Deputy Director (Edn.) Secretary
Examination Committee Mr. Arif Khan FCMA F-0304 Chairman
Mr. Muzaffar Ahmed FCMA F-0038 Member
Mr. A. K. M. Delwer Hussain FCMA F-0215 Member
Mr. Mohammed Salim FCMA F-0218 Member
Mr. A R M Nazmus Sakib Ministry of Finance Member
Additional Director (Exam.) Secretary
Research & Development CommitteeMr. A S M Shaykhul Islam FCMA F-0192 Chairman
Mr. Arif Khan FCMA F-0304 Member
Mr. Md. Abdur Rahman Khan FCMA F-0305 Member
Mr. Muzaffar Ahmed FCMA F-0038 Member
Mr. Md. Munirul Islam FCMA F-0412 Member
Mr. Md. Enamul Hoque Ministry of Industries Member
Additional Director (RPCA) Secretary
Disciplinary CommitteeMr. A S M Shaykhul Islam FCMA F-0192 Chairman
Mr. Jamal Ahmed Choudhury FCMA F-0411 Member
Mr. Md. Abdur Rahman Khan FCMA F-0305 Member
Mr. Md. Shawkat Ali Waresi Ministry of Commerce Member
Executive Director/Director Secretary
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ICMAB ANNUAL REPORT 2015
DETAILS OF OTHER COMMITTEES
Name of the Committees Chairman Vice Chairman
Professional Development and
Advisory CommitteeMr. Muzaffar Ahmed FCMA Mr. M.A. Matin FCMA
Seminar & Conference Committee Mr. Mohammed Salim FCMA Mr. Md. Abdur Rahman Khan FCMA
Taxation Committee Mr. Ranjan Kumar Bhowmik FCMA Mr. Abdul Matin Patwary FCMA
Ordinance, Regulation and
Corporate Laws Review CommitteeMr. Md. Ishaque FCMA Prof. Dr. Swapan Kumar Bala FCMA
Journal and Publication Committee Mr. Naba Krishna Muni FCMA Mr. R Tareque Moudud FCMA
Corporate Award and Branding
CommitteeProf. Mamtaz Uddin Ahmed FCMA Mr. Md. Mostaqur Rahman FCMA
Cost Audit and Professional Service
Cell CommitteeMr. M. Abul Kalam Mazumdar FCMA Mr. Md. Mumlook Hossain FCMA
Cost Accounting and Financial
Reporting Standards CommitteeMr. M. Abul Kalam Mazumdar FCMA Mr. Md. Maminul Islam FCMA
Student Affairs Committee Mr. Jamal Ahmed Choudhury FCMA Mr. Md. Abdur Rahman Khan FCMA
Academic Advisory Committee Mr. Muzaffar Ahmed FCMA Mr. Mohammed Salim FCMA
Placement Committee Mr. Md. Kausar Alam FCMA Mr. A.K.M. Zakaria Hossain FCMA
Welfare Committee Mr. Md. Akhteruzzaman FCMA Mr. Maruf-Ul- Azam FCMA
ICT Committee Prof. Dr. Md. Abdul Hannan Mia FCMA Mr. Md. Faruque Sikder FCMA
Public Relations Committee Mr. A. K. M. Delwer Hussain FCMA Mr. Akram Ahmad Numan FCMA
Infrastructure Development
CommitteeMr. Md. Ruhul Amin FCMA Mr. Morshed Ahmed FCMA
Training Committee Mr. Mohammad Ali Nawaz FCMA Mr. Md. Maksudur Rahman FCMA
Internal Audit and Compliance
CommitteeMr. Shawkat Hossain FCMA Mr. Md. Fakhrul Islam FCMA
Global Affairs Advisory Committee Mr. A.F.M. Amir Hossain FCMA Mr. Md. Munirul Islam FCMA
SAFA and International Relations
Committee
Mr. Abu Sayed Md. Shaykhul Islam
FCMAMr. Md. Mamunur Rashid FCMA
International Recognition and
Accreditation CommitteeMr. Arif Khan FCMA Mr. R Tareque Moudud FCMA
Committee for Branch Affairs Mr. Mohammed Mohiuddin FCMA Mr. Md. Habibul Kabir FCMA
Governance and Administrative
AffairsMr. Md. Abdur Rahman Khan FCMA Mr. Md. Shafiqul Islam Talukder FCMA
AnNexure 2
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ICMAB ANNUAL REPORT 2015
OFFICE BEARERS OF BRANCH AND CHAPTER COUNCILS
Dhaka Branch
Name of the Members Mem. No. PositionMr. S. M. Zahir Uddin Haider FCMA F-0498 Chairman
Mr. Md. Mushfiqur Rahman FCMA F-0491 Vice-Chairman
Mr. S. M. Afjal Uddin FCMA F-0660 Secretary
Mr. Monjur Md. Shaiful Azam FCMA F-0537 Treasurer
Chittagong Branch
Name of the Members Mem. No. PositionMr. Mohammed Nazmul Hoque FCMA F-0521 Chairman
Mr. Mohammed Nurul Huda Siddiquee FCMA F-0658 Vice-Chairman
Qazi Meraz Uddin Arif FCMA F-0554 Secretary
Mr. Md. Anisuzzaman ACMA A-0867 Treasurer
Khulna Branch
Name of the Members Mem. No. PositionMr. Ratan Kumar Debnath FCMA F-0265 Chairman
Mr. Ashok Kumar Debnath FCMA F-0289 Vice-Chairman
Mr. S. M. Zakir Hossain ACMA A-0804 Secretary
Sheikh Ziaul Islam ACMA A-0885 Treasurer
Canada Chapter
Name of the Members Mem. No. PositionMr. Munir A H M ACMA A-0902 Chairman
Mr. Md. Mamunur Rashid ACMA A-0647 Vice-Chairman
Mr. Muhammad Maniruzzaman FCMA F-0614 Secretary
Mr. Md. Ghulam Faruk ACMA A-0405 Treasurer
UK Chapter
Name of the Members Mem. No. PositionMr. A.K.M. Golam Morshed FCMA F-0386 Chairman
Mr. Md. Mahbubur Rahman FCMA F-0255 Vice-Chairman
Mr. Md. Kamal Uddin FCMA F-0763 Secretary
Sufian Mohammad Anisul Hoque ACMA A-0604 Treasurer
KSA ChapterName of the Members Mem. No. Position
Mr. Md. Safiullah FCMA F-0254 Chairman
Mr. Muhammad Emdad Ullah FCA, FCMA F-0276 Vice-Chairman
Mr. Md. Abul Hossain Bhuiyan FCMA F-0136 Secretary
Mr. Mohammad Ashraful Alam FCMA F-0597 Treasurer
AnNexure 3
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ICMAB ANNUAL REPORT 2015
ATTENDANCE RECORDS OF COUNCILORS
Council Meeting
Name of the Councilors Meetings AttendedMr. Abu Sayed Md. Shaykhul Islam FCMA 6
Mr. Arif Khan FCMA 3
Mr. Jamal Ahmed Choudhury FCMA 5
Mr. Md. Abdur Rahman Khan FCMA 5
Prof. Dr. Swapan Kumar Bala FCMA 6
Mr. Muzaffar Ahmed FCMA 5
Mr. M. Abul Kalam Mazumdar FCMA 5
Prof. Mamtaz Uddin Ahmed FCMA 4
Mr. A. K. M. Delwer Hussain FCMA 5
Mr. Mohammed Salim FCMA 6
Mr. Md. Mamunur Rashid FCMA 5
Mr. Md. Munirul Islam FCMA 6
Mr. Md. Shawkat Ali Waresi 6
Mr. A R M Nazmus Sakib 5
Mr. Sushen Chandra Das/Mr. Md. Enamul Hoque 3+1
Mr. Md. Aminul Islam Khan 2
Executive Committee
Executive Committee Members Meetings AttendedMr. A S M Shaykhul Islam FCMA 6
Mr. Arif Khan FCMA 3
Mr. Md. Abdur Rahman Khan FCMA 6
Prof. Dr. Swapan Kumar Bala FCMA 5
Mr. Mohammed Salim FCMA 4
Education Committee
Education Committee Members Meetings AttendedMr. Jamal Ahmed Choudhury FCMA 5
Mr. Md. Abdur Rahman Khan FCMA 4
Mr. M. Abul Kalam Mazumdar FCMA 3
Prof. Mamtaz Uddin Ahmed FCMA 4
Mr. Md. Mamunur Rashid FCMA -
AnNexure 4
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ICMAB ANNUAL REPORT 2015
ATTENDANCE RECORDS OF COUNCILORS
Examination Committee
Examination Committee Members Meetings AttendedMr. Arif Khan FCMA 11
Mr. Muzaffar Ahmed FCMA 5
Mr. A. K. M. Delwer Hussain FCMA 3
Mr. Mohammed Salim FCMA 10
Mr. A R M Nazmus Sakib 7
Research & Development Committee
Research & Development Committee Members Meetings AttendedMr. A S M Shaykhul Islam FCMA 1
Mr. Arif Khan FCMA -
Mr. Md. Abdur Rahman Khan FCMA 1
Mr. Muzaffar Ahmed FCMA -
Mr. Md. Munirul Islam FCMA 1
Mr. Sushen Chandra Das/ Mr. Enamul Hoque 1
Other Committee Meetings held till November 24, 2015
Name of the Committee Number of Meetings HeldProfessional Development & Advisory Committee -
Journal and Publication Committee 3
Seminar and Conference Committee 4
Corporate Award and Branding Committee 1
Ordinance, Regulation and Corporate Laws Review Committee 3
Taxation Committee 3
Cost Audit and Professional Service Cell 1
Cost Accounting and Financial Reporting Standards Committee 5
Academic Advisory Committee 1
Placement Committee 1
Student Affairs Committee -
Welfare Committee 4
ICT Committee 1
Infrastructure Development Committee -
Training Committee -
International Recognition and Accreditation Committee -
Committee for Branch Affairs -
Governess and Administrative Affairs Committee 2
AnNexure 4
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ICMAB ANNUAL REPORT 2015
Report on the Financial
Statements
We have audited the accompanying Financial
Statements of The Institute of Cost and
Management Accountants of Bangladesh
(ICMAB), which comprise the Balance Sheet as
at June 30, 2015 and the Statement of Income
and Expenditure and Statement of Cash Flows
for the year ended on that date, and a summary
of significant accounting policies and other
explanatory information.
Management’s Responsibility for
the Financial Statements
Management is responsible for the preparation
and fair presentation of these financial
statements in accordance with Bangladesh
Financial Reporting Standards (BFRS) and for such
internal control as management determines is
necessary to enable the preparation of financial
statements that are free from material
misstatement, whether due to fraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on
these financial statements based on our audit.
We conducted our audit in accordance with
Bangladesh Standards on Auditing (BSA). These
standards require that we comply with ethical
requirements and plan and perform the audit
to obtain reasonable assurance about whether
the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain
audit evidence about the amounts and disclosures
in the financial statements. The procedures
selected depend on the auditors’ judgment,
including the assessment of the risks of material
misstatement of the financial statements,
whether due to fraud or error. In making those
risk assessments, we consider internal control
relevant to the entity’s preparation and fair
presentation of the financial statements in order
to design audit procedures that are appropriate
in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness
of the entity’s internal control. An audit also
includes evaluating the appropriateness of
accounting policies used and the reasonableness
of accounting estimates made by management,
as well as evaluating the overall presentation of
the financial statements.
We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a
basis for our audit opinion.
OPINION
In our opinion, the financial statements referred to
above give a true and fair view of the state of the
affairs of the Institute as of June 30, 2015 and of
the results of its performance and cash flows for
the year then ended.
Auditors’ Report to the Members of The Institute of Cost and
Management Accountants of Bangladesh (ICMAB)
Auditors report
97
ICMAB ANNUAL REPORT 2015
We also report that:
a) we have obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purpose of our audit and made due verification thereof;
b) in our opinion, proper books of account as required have been kept by the Institute so far as it
appeared from our examination of those books; and
c) the Balance Sheet, Statement of Income and Expenditure and Statement of Cash Flows dealt with
by the report are in agreement with the books of account.
(J. U. Ahmed & Co.)
Chartered Accountants
Dated: November 10, 2015
Dhaka
Auditors report
98
ICMAB ANNUAL REPORT 2015
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Balance Sheet
As at June 30, 2015
30-06-2015 30-06-2014
Taka Taka
Notes
Property, Plant and equipment 4 52,526,491 49,872,464
Bangladesh Institute of Capital Market (BICM) 5 500,000 500,000
Work in progress 6 5,325,000 -
58,351,491 50,372,464 Current Assets
Cash and bank balances 7 15,092,879 18,308,944
Investment for Gratuity 8 40,147,045 33,822,478
Short term investments (FDR) 9 117,563,316 106,608,607
Advances, deposits and pre-payments 10 3,394,695 3,794,101
Receivables and other debit balances 11 3,787,040 1,392,921
Inventories 12 540,905 652,515
180,525,880 164,579,566 Current Liabilities
Security deposits 268,149 263,149
Library caution money 730,998 719,998
Payables and accruals 13 5,933,224 3,887,320
Receipts in advance 14 281,263 67,843
7,213,634 4,938,310
Net Current Assets 173,312,246 159,641,256
Capital Employed 231,663,737 210,013,720
Financed by
General Fund 15 207,165,227 188,438,030
Provision for Gratuity 16 24,323,510 21,400,690
Scholarship Fund 17 175,000 175,000
231,663,737 210,013,720
The annexed notes 1 to 35 from an integral part of these financial statements.
Treasurer Secretary President
Place: Dhaka
Date: November 10, 2015
(J.U. Ahmed & Co.)
Chartered Accountants
BALANCE SHEET
T
99
ICMAB ANNUAL REPORT 2015
STATEMENT OF INCOME AND EXPENDITURE
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Statement of Income and Expenditure
For the year ended June 30, 2015
Notes 2014-2015 2013-2014
Taka Taka
A. Income
Fees from members 18 3,452,200 3,596,055
Subscriptions and fees from students 19 58,389,580 50,102,980
Government grant 20 14,700,000 14,500,000
Interest income 21 15,049,559 15,743,980
Rental income 22 702,966 629,418
Income from InfoTech Center (Net) 23 (37,131) (2,300)
Other income 24 8,288,856 11,587,019
100,546,030 96,157,152
B. Expenditure
Employee cost 25 33,851,155 32,818,705
Occupancy cost 26 8,330,272 5,931,520
General and Administrative expense 27 10,768,972 8,551,052
Students education expense 28 10,508,967 10,782,106
Examination expense 29 5,689,710 6,736,242
Post Qualifying Education expense 30 1,679,789 1,588,111
Members Activity expense 31 1,401,000 1,247,000
Seminar and Conference expense 32 10,022,322 12,297,601
Research and Development expense 33 755,475 158,926
Journal Publication expense 34 1,893,815 1,110,673
Depreciation 35 3,920,245 4,027,159
88,821,722 85,249,095
C. Surplus of income over expenditure for the 11,724,308 10,908,057
year transferred to General Fund (A-B)
The annexed notes 1 to 35 from an integral part of these financial statements.
Treasurer Secretary President
Place: Dhaka
Date: November 10, 2015
(J.U. Ahmed & Co.)
Chartered Accountants
T
100
ICMAB ANNUAL REPORT 2015
STATEMENT OF CASH FLOWS
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Statement of Cash Flows
For the year ended June 30, 2015
2014-2015 2013-2014
Particulars Taka Taka
Cash flows from Operating Activities
Surplus of Income over Expenditure for the year 11,724,308 10,908,057
Depreciation 3,920,245 4,027,159
Provision for Gratuity 2,922,820 2,950,992
Change in working Capital
Investment for Gratuity (6,324,567) (6,221,695)
Short term investment (10,954,709) (11,470,119)
Advance, deposits & prepayments 399,406 (585,251)
Receivables (2,394,119) 3,182,003
Inventories 111,610 381,044
Payables & accruals 2,045,904 (1,398,331)
Receipts in advance 213,420 (174,001)
Library caution money 11,000 27,000
Security deposits 5,000 (50,999)
Net Cash flows from Operating Activities 1,680,318 1,575,859
Cash flows from Investing Activities
Acquisition of property, plant and equipment (6,574,272) (2,094,808)
Capital Work in progress (5,325,000) -
Net Cash flows from Investing Activities (11,899,272) (2,094,808)
Cash flows from Financing Activities
Donated Fund 7,002,889 -
Net cash flows from Financing Activities 7,002,889 -
Net decrease in cash and bank balances (3,216,065) (518,949)
Cash and bank balances at the beginning of the year 18,308,944 18,827,893
Cash and bank balances at the end of the year 15,092,879 18,308,944
The annexed notes 1 to 35 from an integral part of these financial statement.
Treasurer SecretaryPresident
Place: Dhaka
Date: November 10, 2015
(J.U. Ahmed & Co.)
Chartered Accountants
101
ICMAB ANNUAL REPORT 2015
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Notes to the Accounts
For the year ended June 30, 2015
1. Reporting entity
The Institute of Cost and Management
Accountants of Bangladesh (ICMAB) is the national
body of the Cost and Management Accountants
of Bangladesh. The Institute is a statutory
organization constituted by the Government of
Bangladesh under the Cost and Management
Accountants Ordinance, 1977 (Ordinance No.
LIII of 1977) and is regulated under the Cost and
Management Accountants Regulations, 1980
(As amended up to date). The Institute is an
autonomous professional body under the Ministry
of Commerce and is the only institute dedicated to
Cost and Management Accounting education and
research in Bangladesh.
2. Principal Activities
The Institute’s mission is to develop, equip and
promote Cost and Management Accounting
profession by maintaining highest professional
standards of its members in order to enable them
to provide better services to the society.
The Institute is also 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 standards with the
ultimate objective of developing Bangladesh’s
human and natural resources to ensure common
welfare and to enrich shared future.
3. Summary of Significant
Accounting Policies
The accounting policies set out below will be
applied consistently to all periods presented in
these financial statements.
3.1 Accounting basis and
convention
The accounts have been prepared, consistently
applying Generally Accepted Accounting Principles
(GAAP) under the historical cost convention.
3.2 Property, plant and equipment
3.2.1 Recognition and
Measurement
The cost of an item of property, plant and
equipment (fixed assets) is recognized as an asset,
if and only if it is probable that future economic
benefits associated with the item will flow to the
entity and the cost of the item can be measured
reliably.
Property, plant and equipment have been
accounted for at cost less accumulated
depreciation. Cost includes expenditure that is
directly attributable to the acquisition of the items.
notes to the accounts
102
ICMAB ANNUAL REPORT 2015
Subsequent cost of enhancement of an existing asset is recognized as a separate asset, only when it
is probable that future economic benefits associated with the item can be measured reliably. All other
repair and maintenance are charged to the income statement during the accounting period in which they
are incurred.
3.2.2 Depreciation on fixed assets
Depreciation on fixed assets has been charged on straight line method. Full year’s depreciation has
been charged on the assets acquired during first half of the accounting year, while no depreciation has
been charged on the assets acquired during the second half of the accounting year as well as on assets
disposed off.
ii) Depreciation/amortization has been calculated at the following rates:
Types of Assets Rate of depreciation/amortization (%)
Leasehold land in Dhaka 3.33%
Leasehold land in Chittagong, Khulna and Rajshahi 1.00%
Building:
i) Main building
ii) Prayer hall
iii) Garage/temporary shed
2.50%
10%
20%
Office equipment:
i) Computer
ii) Other office equipment
30%
15%
Furniture and fixtures 10%
Library books 10%
Motor car 25%
notes to the accounts
103
ICMAB ANNUAL REPORT 2015
notes to the accounts
3.3 Inventory valuation
Inventory has been valued at cost.
3.4 Government Grant
The grant received from the Government of
Bangladesh has been recognized as income
and shown in the Statement of Income and
Expenditure as the grant was allowed to meet
revenue deficit.
3.5 Revenue recognition
a) Subscription and fees from members have
been accounted for on accrual basis.
b) Subscription and fees from students have
been accounted for on cash basis.
c) Interest on bank deposits has been accounted
for on accrual basis.
3.6 General
i) Physical verification of Fixed Assets and
Inventory items as on June 30, 2015 of ICMAB
Head Office and Chittagong Branch office
were taken by a Joint Inventory Committee
comprising of members from Audit Firm and
the Institute.
ii) Figures have been rounded off to the nearest
Taka.
iii) Previous year’s figures have been rearranged,
wherever considered necessary, in order to
conform to current year’s presentation.
104
ICMAB ANNUAL REPORT 2015
30-06-2015 30-06-2014
Taka Taka
4. Property, Plant and equipment
Balance as on July 01, 2014 110,688,924 108,594,116
Add: Purchased during the year 6,574,272 2,094,808
117,263,196 110,688,924
Less: Accumulated depreciation as on July 01, 2014 60,816,460 56,789,301
Depreciation during the year 3,920,245 4,027,159
64,736,705 60,816,460
Balance as on June 30, 2015 52,526,491 49,872,464
The details of above balance have been shown in Annexure-1 at page 111
5. Bangladesh Institute of Capital Market (BICM)
Contribution to Bangladesh Institute of Capital Market (BICM) 500,000 500,000
6. Capital Work in progress
Software development Work (ERP) 525,000 -
Dhaka Building renovation work 4,800,000 -
5,325,000 -
7. Cash and Bank Balances
Cash in hand 90,500 80,500
Balance with current deposits 892,009 225,575
Balance with saving deposits 192,771 2,624,842
Short term deposits 13,917,599 15,378,027
15,092,879 18,308,944
8. Investment for Gratuity
Fixed deposit with bank 35,184,685 31,927,380
Saving deposit with bank 4,962,360 1,895,098
40,147,045 33,822,478
9. Short term investments(FDR)
Fixed deposits with bank 117,288,256 106,358,960
Fixed deposits with bank (Scholarship Fund) 275,060 249,647
117,563,316 106,608,607
10. Advances, deposits and pre-payments
Advance against expenses 862,881 889,838
Advance against TA and DA 1,009,108 1,841,714
Deposits and pre-payments 1,522,706 1,062,549
3,394,695 3,794,101
11. Receivables
Receivable from members 3,787,040 1,392,921
notes to the accounts
105
ICMAB ANNUAL REPORT 2015
notes to the accounts
30-06-2015 30-06-2014
Taka Taka
12. Inventories
Stock and store consumable 89,181 256,174
Saleable Stock
Dhaka 260,552 179,774
Chittagong 76,199 100,147
Rajshahi 36,278 39,144
Khulna 38,591 37,907
Comilla 40,104 39,369
540,905 652,515
13. Payables and accrualsAccrued expense
Employees cost 2,155,280 37,500
Occupancy cost 831,913 777,440
General & admin expense 151,879 166,109
Student education expense 2,584,000 2,281,649
Examination expense - 377,790
Seminar & conference - 73,454
5,723,072 3,713,942
Students scholarship 124,601 24,601
Other (Liabilities) 85,551 148,777
5,933,224 3,887,320
14. Receipts in advance
Fees for membership 56,140 26,140
Annual membership fees 225,123 41,703
281,263 67,843
15. General Fund
Balance as on July 01,2014 188,438,030 177,529,973
Add: Excess of Income over Expenditure for the year 11,724,308 10,908,057
200,162,338 188,438,030
Donation from other organization 7,002,889 -
207,165,227 188,438,030
16. Provision for Gratuity
Balance as on July 01,2014 21,400,690 18,449,698
Add: Provision made during the year 3,047,520 2,950,992
24,448,210 21,400,690
Less: Paid during the year 124,700 -
Balance as on June 30,2015 24,323,510 21,400,690
17. Scholarship Fund
Scholarship 175,000 175,000
106
ICMAB ANNUAL REPORT 2015
2014-2015 2013-2014
Taka Taka
18. Fees from members
Admission fees 275,000 292,000
Annual membership fees 3,093,000 3,172,055
Fees from certificate of practice 84,200 132,000
3,452,200 3,596,055
19. Subscriptions and fees from students
Tuition fees 7,683,326 6,542,642
Admission fees 13,145,000 11,753,000
Registration fees 7,587,500 6,504,000
Correspondence course fees 13,610,774 10,360,078
Examination and exemption fees 10,256,560 10,198,000
Annual subscriptions 4,650,720 3,500,460
Library card fees 455,800 419,600
Identity card fees 379,600 340,000
Students welfare 189,700 168,800
Practical certificate fees 257,400 189,400
Testimonial fees 14,200 22,000
Internship fees 159,000 105,000
58,389,580 50,102,980
20. Government grant
Government grant 14,700,000 14,500,000
21. Interest income
Interest on FDR’s 14,212,014 14,682,686
Bank interest 837,545 1,061,294
15,049,559 15,743,980
22. Rental income
Auditorium rent 117,500 125,000
Class room rent 392,800 240,000
Space rent 192,666 264,418
702,966 629,418
23. Income from InfoTech Center (Net)
InfoTech total income 800 7,200
InfoTech total expense (37,931) (9,500)
(37,131) (2,300)
notes to the accounts
107
ICMAB ANNUAL REPORT 2015
notes to the accounts
2014-2015 2013-2014
Taka Taka
24. Other Income
Advertisement Income(Journal,Member list ) - 55,000
Advertisement Income (Semi. & Conf., Sponsor etc.) 4,984,556 8,961,183
Sale of Journal - 1,440
Profit from sale of saleable items 1,588,606 1,345,227
Fees from seminar and conference 428,500 619,000
Income from photocopies 21,506 24,646
Fees from workshop, CPD program 340,770 -
Fine & late fees 729,820 519,065
Miscellaneous income 195,098 61,458
8,288,856 11,587,019
25. Employee cost
Salaries and allowances 24,368,412 24,430,522
Overtime 2,700,449 1,803,616
Dress and uniform 72,000 69,415
Gratuities 3,047,520 2,950,992
Bonus 2,274,653 2,130,617
Employer’s contribution to Provident Fund 1,121,630 1,138,864
Employees’ Income tax 54,379 79,109
Group insurance 212,112 215,570
33,851,155 32,818,705
26. Occupancy Cost
Rent, rates and taxes 339,646 395,551
Electricity, gas & water charges 2,441,502 2,222,499
Repairs and maintenance 3,823,941 2,083,314
Property insurance 97,980 116,051
Security and cleaning 1,627,203 1,114,105
8,330,272 5,931,520
108
ICMAB ANNUAL REPORT 2015
2014-2015 2013-2014
Taka Taka
27. General & Administrative expense
Printing and stationery 1,788,483 1,791,248
Motor car expense 250,311 344,575
Traveling and conveyance 418,030 604,096
Postage, telephone and courier 1,897,003 1,721,262
Meeting expense 1,407,139 2,011,387
Advertisement 2,261,115 260,327
Audit fees 60,000 60,000
International relations 551,591 548,085
Legal and professional charges 177,780 49,050
Bank charges 69,253 52,154
Employees’ welfare 213,450 180,000
Generator fuel and maintenance 725,736 713,500
Training and development 156,391 26,752
Miscellaneous expense 792,690 188,616
10,768,972 8,551,052
notes to the accounts
i. Advertisement expense includes cost of rejoinder in three daily news paper twice for FRA (Financial Reporting Act).
ii. Miscellaneous expense includes contribition to the High Commission of Nepal in Bangladesh for relief to earthquake victims in
Nepal.
28. Students education expense
Honorarium to lecturers 7,698,710 7,862,844
Correspondence course expense 16,149 164,240
Printing and stationery 745,968 934,960
Advertisement expense 693,424 457,371
Traveling and conveyance 412,244 453,882
Meeting expense 551,352 665,764
Newspapers and periodicals 110,665 93,335
Admission test expense 19,360 30,860
Students welfare expense 246,245 81,500
Library Photocopy expense 14,850 22,350
Incentive awarded - 15,000
10,508,967 10,782,106
i. Students welfare expense includes cost of projection meeting with different private universities and colleges.
109
ICMAB ANNUAL REPORT 2015
notes to the accounts
2014-2015 2013-2014
Taka Taka
29. Examination expense
Honorarium to examiners and question setters 1,964,725 2,392,220
Invigilation expense 2,039,468 1,904,097
Examination allowances to staff 955,990 1,194,420
Traveling and conveyance 85,920 390,934
Printing and stationery 505,012 583,148
Advertisement expense 45,160 48,400
Meeting expense 93,435 223,023
5,689,710 6,736,242
30. Post Qualifying Education expense
Honorarium to Faculty Member 76,000 -
Entertainment 812,012 587,338
Printing and stationery 329,392 530,922
Traveling and conveyance 103,765 132,690
Meeting expense - 8,427
Advertisement expense 108,500 38,500
Gift and presentation 250,120 290,234
1,679,789 1,588,111
31. Members Activity expense
(Details in Annex-A, B & C)
Dhaka Branch Council 700,000 585,000
Chittagong Branch Council 605,000 552,000
Khulna Branch Council 96,000 110,000
1,401,000 1,247,000
32. Seminar and Conference expense
International 2,934,708 2,832,259
Local
Printing and stationery 1,521,640 1,682,415
Traveling and conveyance 121,045 189,340
Advertisement expense 447,515 562,008
Meeting expense 17,919 32,251
Entertainment Expense 4,036,755 5,970,006
Gift and presentation 659,740 575,322
Cultural function & others 283,000 454,000
10,022,322 12,297,601
110
ICMAB ANNUAL REPORT 2015
2014-2015 2013-2014
Taka Taka
33. Research and Development expense
Administrative expense 570,975 74,026
Cost Audit Committee/Implementation expense 184,500 84,900
755,475 158,926
Administrative expense includes cost of printing of Bangladesh Cost Accounting
Standards: Volume-01
34. Journal publication expense
Honorarium to script writers 57,801 23,870
Honorarium to editor 146,800 146,120
Printing and stationery 1,562,407 847,614
Traveling and conveyance 84,110 51,410
Meeting expense 42,697 41,659
1,893,815 1,110,673
35. Depreciation
Depreciation on Building 1,412,665 1,412,665
Amortization on Land 51,096 51,096
Depreciation on Furniture & Fixture 592,311 559,209
Depreciation on Office equipment 1,716,375 1,863,1054
Depreciation on library books 147,798 141,085
3,920,245 4,027,159
notes to the accounts
111
ICMAB ANNUAL REPORT 2015
Th
e I
ns
titu
te o
f C
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Acc
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COST
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ECIA
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Addi
tion
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year
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Taka
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-
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24,
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,153
,680
2014
-201
5 1
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6
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-
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736,
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52,
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2013
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4 1
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5
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-
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men
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pute
r30
%
112
ICMAB ANNUAL REPORT 2015
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Statement of Budget Variance
or the year ended June 30, 2015
Note
2014-2015Revised
Budget
2014-2015Actual
VarianceFav.(Unfav)
% Fav(Unfav)
Taka Taka Taka
A. INCOME
Fees from members 18 3,427,200 3,452,200 25,000 0.73
Subscriptions and fees from students 19 62,145,793 58,389,580 (3,756,213) (6.04)
Government grant 20 14,700,000 14,700,000 - -
Interest income 21 10,746,800 15,049,559 4,302,759 40.04
Rent 22 685,906 702,966 17,060 2.49
Income from InfoTech center(Net) 23 (19,250) (37,131) (17,881) 92.89
Other income 24 7,460,942 8,288,856 827,914 11.10
99,147,391 100,546,030 1,398,639 1.41
B. EXPENDITURE
Employee costs 25 33,474,662 33,851,155 (376,493) (1.12)
Occupancy costs 26 9,277,062 8,330,272 946,790 10.21
General and Administration expense 27 12,216,223 10,768,972 1,447,251 11.85
Students Education expense 28 11,006,008 10,508,967 497,041 4.52
Examination expense 29 5,738,031 5,689,710 48,321 0.84
Post Qualifying Education expense 30 899,241 1,679,789 (780,548) (86.80)
Members Activity expense 31 1,271,000 1,401,000 (130,000) (10.23)
Seminar and Conference expense 32 10,507,366 10,022,322 485,044 4.62
Research and Development expense 33 902,400 755,475 146,925 16.28
Journal publication expense 34 1,959,843 1,893,815 66,028 3.37
Depreciation 35 3,879,700 3,920,245 (40,545) (1.05)
91,131,536 88,821,722 2,309,814 2.53
C. Surplus/(Deficit) A-B 8,015,855 11,724,308 3,708,453
D. Capital expenditure (Annexure-1) 3,920,245 6,574,272 (2,654,027)
E. Net Surplus/(Deficit) (C-D) 4,095,610 5,150,036 1,054,426
Statement of Budget Variance
113
ICMAB ANNUAL REPORT 2015
Dhaka Branch Council
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Dhaka Branch Council
Receipts & Payments Account
For the year ended June 30, 2015
Annexure-A
2014-2015 2013-2014
Taka Taka
A. Receipts
Opening Balance:
Cash In Hand 41,355 22,035
Cash at Bank 112,798 265,573
154,153 287,608
Donation From ICMAB National Council 700,000 585,000
Less: Advance adjusted 359,500 544,500
340,500 40,500
Advance from ICMAB against next year Budget 709,500 359,500
Loan to DBC from ICMAB National Council - 1,000,000
Advance received 50,000 -
Loan from DBC’s office bearer 190,000 70,000
Subscription & other receipts for picnic 121,250 512,500
Subscription & other receipts DBC Fellowship Night 301,600 999,992
Training fees 3,545,500 2,559,900
Raffle Draw 404,100 384,750
Advertisement/sponsor 2,636,178 1,078,705
Rental Income 4,000 12,000
Bank Interest & others 4,013 1,689
7,966,141 6,979,036
8,460,794 7,307,144
114
ICMAB ANNUAL REPORT 2015
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Dhaka Branch Council
Receipts & Payments Account
For the year ended June 30, 2015
Annexure-A
2014-2015 2013-2014
Taka Taka
B. PAYMENTS
DBC Fellowship Night 2,530,092 2,223,223
Training Course expenses (VAT & Tax etc.) 1,399,611 1,062,246
DBC Activities Expenses:
(Reception to NC, members family day, Art competition, etc. ) 1,189,010 946,995
Indoor Games 304,561 125,266
DBC Annual picnic 1,312,475 732,514
Sponsor & Incentive expense (ICMAB students & incentive to staff) 164,975 120,600
Loan refund to DBC Office Bearer - 70,000
Loan refund to ICMAB 200,000 1,000,000
Repairs & Maintenance & renovation work of DBC 263,001 205,083
Office expenses (Meeting & Stationary expenses) 509,086 452,115
E-mail, Dish, Postage and Internet Expenses 53,860 82,350
IFRS expenses 10,000 130,028
Misc. Expenses (Doa & Milad Mohfil) 23,000 -
Hall rent (DBC Night-2045) 100,000 -
Office Equipments 353,948 -
Bank Charge 3,565 2,571
8,417,184 7,152,991
C. Closing Balance:
Cash in Hand 32,746 41,355
Cash at Bank 10,864 112,798
43,610 154,153
8,460,794 7,307,144
Dhaka Branch Council
115
ICMAB ANNUAL REPORT 2015
Chittagong Branch Council
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Chittagong Branch Council
Receipts & Payments Account
For the year ended June 30, 2015
Annexure-B
A. RECEIPTS 2014-2015 2013-2014
Taka Taka
Opening Balance:
Cash in Hand 9,867 4,655
Cash at Bank 90,005 2,661
99,872 7,316
Donation from ICMAB National Council 230,000 192,000
Special Grant from National Council(Seminar, CPD’s etc.) 400,000 360,000
Reimbusement from haed office 47,743 -
Fees from participants (Seminar, Conference & Fellowship night, etc.) 306,000 567,400
Grant for workshop on BCAS & Post Budget discussion - 81,845
Ralfe Draw (Picnic,CBC Fellowship night etc.) 160,700 -
Grant (Eid-E-Miladunnabi) - 17,000
Advertisement and Sponsor 909,250 991,413
Donation 65,000 56,500
Loan - 220,260
Bank interest 1,693 2,043
1,890,386 2,296,461
2,220,258 2,495,777
116
ICMAB ANNUAL REPORT 2015
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Chittagong Branch Council
Receipts & Payments Account
For the year ended June 30, 2015
Annexure-B
2014-2015 2013-2014
Taka Taka
B. PAYMENTS
CPD activitis expenses 143,789 94,530
CBC Fellowship Night -2014 548,271 678,150
Seminar & Conference expenses 521,121 760,571
CBC Picnic 542,745 365,998
Workshop, CPD etc. 193,868 45,088
Loan refund - 220,260
Shaheed Dibash /Pahela Baishakh, etc. 123,442 112,278
Eid- E-Miladunnabi expenses 49,197 40,389
Meeting & other Expenses 44,670 77,155
Bank charge 1,427 1,486
2,168,530 2,395,905
C. Closing Balance:
Cash in Hand 6,461 9,867
Cash at Bank 45,267 90,005
51,728 99,872
2,220,258 2,495,777
Chittagong Branch Council
117
ICMAB ANNUAL REPORT 2015
khulna Branch Council
THE INSTITUTE OF COST AND MANAGEMENT ACCOUNTANTS OF BANGLADESH
ICMA BHABAN, NILKHET, DHAKA
Khulna Branch Council
Receipts & Payments Account
For the year ended June 30, 2015
Annexure-C
2014-2015 2013-2014
Taka Taka
A. Receipts
Opening Balance:
Cash In Hand 2,785 196
Cash at Bank 1,237 1,237
4,022 1,433
Donation from ICMAB National Council 96,000 80,000
Special Fund from ICMAB National Council - 30,000
Loan from Office Bearer, KBC) - 15,445
96,000 125,445
100,022 126,878
B. PAYMENTS
Meeting Expenses 6,000 5,500
Printing & Stationary 3,500 4,000
Traveling & Conveyance 2,000 2,400
Annual Picnic & others 30,000 85,445
Entertainment Expenses 7,000 5,000
KBC Night 20,400 -
Loan refund to Office Bearer, KBC) 15,445 -
Memorial Day, etc. 3,000 5,010
Ifter Party, Doa & Milad Mhhfil 10,500 15,376
Miscellaneous expenses 587 125
98,432 122,856
C. Opening Balance:
Cash in Hand - 2,785
Cash at Bank 1,590 1,237
1,590 4,022
100,022 126,878
118
EXECUTIVES OF THEINSTITUTE
Mr. Nazmus SalehinDirector (Additional Charge)Cell: 01975-158512E-mail : [email protected]: 9615460, 9611799 Ext.: 12 & 14
Mirza Mostafa WalidAdditional Director (Exam.)Tell : 01972-101612E-mail : [email protected]: 9615460, 9611799 Ext. : 17
Mr. Md. Mizanur RahmanAdditional Director (RPCA)Cell : 01972-227909E-mail : [email protected]: 9615460, 9611799 Ext. : 29
Mr. Md. Suhrawardi Bhuiyan FCMADeputy Director Rajshahi Coaching CentreCell : 01978-274324E-mail : [email protected] : 0721-751092
Mr. Md. Shahadat HossainDeputy DirectorChittagong BranchCell : 01972-183535E-mail : [email protected] : 031-727638
Mr. Md. Abdul MalequeDeputy Director (Education)Cell : 01976-403422E-mail : [email protected]: 9615460, 9611799 Ext. : 22
Mr. Md. Abu HasanDeputy Director (A & F)Cell : 01972-414317E-mail : [email protected]: 9615460, 9611799 Ext. : 35
Mr. Md. Monirul Islam BhuiyanAssistant Director (Admin.)Cell : 01975-444494Tel: 9615460, 9611799 Ext. : 27
119
ICMAB ANNUAL REPORT 2015
Mr. Md. Iftekher Hossain PatwaryEngineerCell : 01716-792296Tel: 9615460, 9611799 Ext. : 27
Mr. Md. Rafiqul IslamAssistant Director (Library)Cell : 01976-509054E-mail : [email protected]: 9615460, 9611799 Ext. : 18
Mr. Mohammad Abdur Rahim MahmudAssistant Director (Admin.)Cell : 01975-012420E-mail : [email protected]: 9615460, 9611799 Ext. : 13
Mr. Masud AlamAssistant Director (Finance)Cell : 01976-793119Tel: 9615460, 9611799 Ext. : 16
Mr. Md. HanifComputer ProgrammerCell : 01970-367828E-mail : [email protected]: 9615460, 9611799 Ext. : 26
Mr. Md. Nayim-Uz-ZamanAssistant Director (Education)Cell : 01833-685399E-mail : [email protected]: 9615460, 9611799 Ext. : 24
Talukder Md. Rawfur Shahid (Dawn)Officer (Desk Officer for Members’ Affairs)Cell : 01975-177049E-mail : [email protected]: 9615460, 9611799 Ext. : 30 & 32