CMA 2021 Syllabus

CMA Professional Program
The Cost and Management Accounting (CMA) professional program is for the aspiring
Professional Accountants aiming for the role of a strategic partner in their career. This program
offers courses under seven interrelated pillars to embed marketable skills with the student’s
cognitive construct. The seven pillars ensure to enlighten students providing necessary technical
skills with a reasonable aptitude for numbers to demonstrate the convergence of global
perspective, business acumen, regulatory requirements, ethical judgment, critical and strategic
thinking, creativity, teamwork, research skills, IT skills, and persuasive communication skills. A
future-ready professional expected to produce by the CMA program will go beyond converting
data into dialogues in the age of digitization and be able to contribute to the global economy
with practices of international standards.
Program Objectives
On completion of the CMA Professional program, the aspiring professional accountants shall be
able to:
1. understand the organizational acumen and operations.
2. apply conceptual and compliance factors in resolving organizational problems.
3. critically evaluate scenarios in developing innovative and ethical decisions.
4. adopt and apply information technology in routine operations and data analytics.
5. carry out projects integrating knowledge from different pillars of the program
6. construct and deliver clear, concise, credible, and convincing arguments.
7. Formulate and implement a strategic course of action with integrity in a given organizational
context.
P a g e 1 | 158
Analytical Framework of Curriculum
Learning Learning
CMA Program Objectives of
Outcomes of Outcomes of
Objectives 7 K-Pillars
21 Courses Topics
Objectives of Knowledge-Pillars
Cost & Management

Accounting
Financial Accounting &

Corporate Reporting
Information Technology &

Objectives of Business Analytics Learning Learning
CMA Outcomes Outcomes
Professional Economics & Finance of Each of Topics of
Program Course of Each
Management & Business respective Course
Strategy K-Pillars
Audit & Assurance
Governance, Laws &

Taxation
Case Study
P a g e 2 | 158
Qualified CMA
CS505: Case Study (100 Marks)
CM 451: AA253:
MS352: Business
Strategic Cost & LT 454: Advanced
Planning and
AL2 Management - - - Management Income Tax & VAT
Strategy
Accounting Audit (100 Marks)
(100 Marks)
Advanced (A) (100 Marks) (100 Marks)
FR 342:
CM 341: EF 343: Corporate LT 344: Corporate
Advanced
Strategic Cost Finance Strategy & Governance &
AL 1 Financial - - -
Accounting (100 Financial Market Secretarial Practices
Reporting
Marks) (100 Marks) (100 Marks)
(100 Marks)
Articleship
LT234: Fundamentals
CM231:
EF 232: Financial AA133: of Tax, VAT & Public
Management
IL 2 - - Management - Auditing (100 Financial
Accounting (100
(100 Marks) Marks) Management
Marks)
(100 Marks)
Intermediate (I)
FR222: TA223:
MS 224: Marketing
CM121: Cost Intermediate Information & LT 125: Corporate &
& Supply Chain
IL 1 Accounting (100 Financial CommunicationT - - Business Laws
Management
Marks) Accounting echnologies (100 Marks)
(50 Market)
(100 Marks) (50 Markets)
MS114:
FR 111: TA 112: EF113: Business
Fundamentals of
Fundamentals Business Economics &
Management &
Foundation (F) FL - of Financial Quantitative International
Business
- -
Accounting Analysis Business (100
Communication
(100 Marks) (100 Marks) Marks)
(100 Marks)
Financial Information
Cost &
Accounting & Technology & Economics & Management & Audit & Governance, Laws
Management Industry
Corporate Business Finance Business Strategy Assurance & Taxation
Accounting Training
Reporting Analytics
CMA Professional Levels CMA FACR ITBA EFIN MBS AA GLT Pillar
Knowledge Pillars
Practical
Professional Accounting Education
Experience
Table 1 & 2: Course at different Levels of CMA Professional Program

Positioned on Different Pillars
AL II CM451 MS352 AA253 LT454
AL I CM341 FR342 EF343 LT344
IL II CM231 EF232 AA133 LT234
IL I CM121 FR222 TA223 MS224 LT125
FL FR111 TA112 EF113 MS114
CMA FACR ITBA EFIN MBS AA GLT
FL IL I IL II AL I AL II
FR111 CM121 CM231 CM341 CM451
TA112 FR222 EF232 FR342 MS352
EF113 TA223 AU133 EF343 AU253
MS114 MS224 LT234 LT344 LT454
LT125
P a g e 3 | 158
Figure 1: Structure of CMA Professional Program
Table 3: Summary of Courses of CMA Professional Program
K-
Level Code Course Title Symbol Marks
Pillar
FR 111 Fundamentals of Financial Accounting FFA FACR 100
TA 112 Business Quantitative Analysis BQA ITBA 100

Foundation Level Business Economics & International
EF 113 EIB EFIN 100
Business
Fundamentals of Management & Business
MS114 MBC MBS 100
Communication
CM 121 Cost Accounting COA CMA 100

FR 222 Intermediate Financial Accounting IFA FACR 100
Information & Communication
Intermediate Level I TA 223 ICT ITBA 50
Technologies
MS 224 Marketing & Supply Chain Management MSM MBS 50
LT 125 Corporate & Business Laws CBL GTL 100
CM 231 Management Accounting MAC CMA 100
EF 232 Financial Management FIM EFIN 100
Intermediate Level II AA 133 Auditing AUD AA 100
Fundamentals of Tax, VAT & Public
LT 234 TPF GTL 100
Financial Management
CM 341 Strategic Cost Accounting SCA CMA 100

FR 342 Advanced Financial Reporting AFR FACR 100
Corporate Finance Strategy &Financial
Advanced Level I EF 343 FSM EFIN 100
Market
Corporate Governance & Secretarial
LT 344 GSP GTL 100
Practices
CM 451 Strategic Management Accounting SMA CMA 100
MS 352 Business Planning and Strategy BPS MBS 100
Advanced Level II AA 253 Cost & Management Audit CAT AA 100
LT 454 Advanced Income Tax & VAT ATV GTL 100
CS 505 Case Study CAS - 100
P a g e 4 | 158
Cost and Management Accounting Pillar
The Cost and Management Accounting (CMA) pillar aims to provide learners a clear
understanding of the Cost and Management Accounting Systems (CAS and MAS) appropriate
for an entity. This pillar is designed to enable learners in using Cost Accounting as a tool for cost
management and Management Accounting for the best fit decisions. The CMA pillar will help to
ascertain, analyze, report, and control costs, revenue, and other relevant financial and non-
financial information to support operational and strategic decisions that satisfy the optimum
utilization of existing resources. Considering the dynamic nature and increasingly competitive
environment, the CMA pillar introduces digital costing and Bangladesh Cost Accounting
Standards (BCAS) alongside customary cost and management accounting techniques. It is
expected that by conceptualizing the contents of different courses under the pillar, learners will
be proficient in understanding and applying appropriate cost and management accounting
techniques under different levels of complexities, ambiguity, and uncertainty. The first two
course of the CMA pillar is ‘Cost Accounting’ and ‘Management Accounting’ (in the intermediate
level), followed by the ‘Strategic Cost Accounting’ and ‘Strategic Management Accounting’ (in
the strategic level). At the Intermediate level, learners will be exposed to cost and management
accounting tools and techniques related to short-term decisions and internal affairs of an
organization. Contrary, learners will be exposed to strategic decision-making scenarios
accommodating external affairs in long –term of the organization at the advanced level.
Pillar Objectives
On successful completion the CMA pillar, the aspiring professional accountant will be able to:
1. comprehend the changing role of cost and management accountant in the contemporary
business environment
2. apply the pertinent cost and management accounting techniques in the age of digitization
3. apply the provision of Bangladesh Cost Accounting Standards (BCAS) to generate a reliable
cost of goods sold figure
4. recognize, analyze, evaluate, and select the best available alternative to accomplish strategic
goals of the organization
5. adopt appropriate performance management systems for organizational units
6. analyze and interpret internal operational and external environmental information to
demonstrate the way of achieving competitive advantages
7. formulate CAS and MAS to ensure optimum value creation considering the environmental
and behavioral aspects
P a g e 5 | 158
Course Title:
Cost Accounting (COA)
Knowledge Pillar Level Course Title Course Code Total Marks

Cost & Management Intermediate Cost Accounting CM121 100
Accounting level I
Syllabus Structure
The syllabus comprises the following main topics with the relative study weightings:
Segment Segment Title Weight (%)

A Cost accounting fundamentals 15%
B Cost accounting systems 20%
C Cost accounting methods and techniques 50%
D Contemporary issues in cost accounting 15%
Course Description
This is the first course of the Cost and Management Accounting pillar. This course provides the
in-depth knowledge of understanding and applying different cost accounting methods and
techniques to manage different cost elements considering the nature of organizational
operations. In the process, analysis and decision orientation is also emphasized. The subject
covers fundamentals of cost accounting concepts introducing Bangladesh Cost Accounting
Standards; elements of costs in explaining different cost elements; appropriateness and
application of different cost accounting methods and techniques; and also provides preliminary
idea of the contemporary cost accounting issues. On completion of this subject students will be
developed skills of analysis, evaluation and synthesis in cost and, in the process, created an
awareness of current developments and issue in the area.
Course Objectives
The main objective of this course is to enable learners to provide in-depth knowledge of cost
accounting concepts, principles, and methods to apply and analyze cost accounting data to meet
the requirements of different manufacturing organization. This course ensures the conceptual
foundation of different types of cost and its implication in the organization for a learner to
provide data that are required for management decision making. The course aims to provide the
basic concepts and principles of cost accounting that one can apply in preparing management
reports and provide a base to develop analytical skill.
Course Learning Outcomes

On successful completion of this course, the aspiring professional accountants will be able to:
1. describe the fundamentals of cost accounting concepts, conventions, and doctrines
2. understand the underlying principles of Bangladesh Cost Accounting Standards
3. identify and ascertain cost of a cost object preparing necessary cost statements
4. apply different cost accounting methods and techniques
5. build argument in selecting a cost accounting method/technique in a given context
P a g e 6 | 158
6. apply and analyze the principles relating to the costing and control of different
organizational resource
7. understand the application of cost accounting in a digital and lean management ecosystem
Detail Contents
Level of
Learning outcomes
Parts Topics study Subtopics weight
of topics
required
A. Cost A1. Introduction to R, U  Definition of Cost 1. understanding 25%

accounting cost accounting Accounting the scope and
fundamentals  Comparison of Cost mechanisms of
(15%) Accounting with Financial cost accounting
Accounting and 2. identify the
Management Accounting basic principles
 The role of Cost Accounting and trends in
 Methods and Techniques of cost accounting
Cost Accounting
 Characteristics of an ideal
Cost Accounting Systems
 Installation of a Cost
Accounting Systems
 Modern Trends in Cost
Accounting
A2. Bangladesh Cost R, U, AP  Bangladesh Cost Accounting 3. illustrate the 35%

Accounting Standards Board role and
Standards  Objectives and Functions of applications of
Cost Accounting Standards BCAS
Board
 BCAS issued by ICMAB
A3. Cost concepts, R, U  The Concepts of Cost and 4. identify costs 40%
classification, and explain why the concept of from different
cost statements ‘cost’ needs to be defined, in perspectives
order to be meaningful 5. prepare cost
 Cost Classification for statements
Inventory Valuation and
Profit Measurement
 Financial, Cost and
Management Accounting
Concepts
 describe how information
can be used to identify
performance within an
organization
 explain the differences
between financial
information requirements
for companies, public bodies
and society.
P a g e 7 | 158
Level of
Learning outcomes
of topics
required
 Prepare the statement of
cost of goods sold
B. Elements B1. Costing of AP, AN,  Classification of 6. decide 25%

of Costs Materials E, D Materials material costs
(20%)  Objectives of materials to be reported
management and control in the cost
 Accounting for materials statements
 Stock control in 7. manage
Advanced Manufacturing
Environment material costs
adopting
 Inventory System – different
Periodic System & techniques and
Perpetual System relevant BCAS
 Maintenance of General
Ledger and Subsidiary
Ledger
 Methods of Pricing issues
FIFO, LIFO, Weighted /
Moving Average
 Valuation of closing /
inventory for Balance
sheet
 Pricing of returns –
selection of pricing
Method. Recording.
 Corresponding BCAS
B2. Costing of Labor AP, AN,  Productivity and Labor Costs 8. design labor 20%
C  Remuneration methods pay scheme in
 Recording labor costs a given context
 Employee cost reporting and 9. control labor
measurement of efficiency costs through
 Corresponding BCAS proper
recording and
reporting
B3. Costing of AP, AN  Define Overheads; Overhead 10. illustrate the 30%
Overhead allocation, apportionment of process of
overhead identifying and
 Absorption of factory applying
overhead, predetermined
 Absorption and treatment of overhead rates
over or under absorption of 11. report
overheads overhead costs
 Accounting for specific items after necessary
of production overheads adjustments
 Treatment of Non –
Manufacturing Overheads
P a g e 8 | 158
Level of
Learning outcomes
of topics
required
B4. Cost Accounting U, AP  Maintaining Cost 12. maintain 25%
Records as per Accounting Records (CARs) proper cost
BCAS  Learn how CARs are accounting
maintained for different recordsas per
sectors/Industries BCAS
 Total Cost Management and
Framework process
C. Cost C1. Job, batch and R, U, AP  Job and batch Costing; 13. determine cost 10%
accounting contract costing Nature of job costing – Job of products
methods and Cost sheet and job ledger – under different
techniques Recording costs on Jobs – methods
(50%) Recording completed jobs &
Batch costing – Economic
Batch quantity.
 Contract costing; Differences
between job and contract
costing, calculating the
percentage of completion,
calculating the profit based
on the percentage of
completion.
C2. Process costing U, AP  The basics of process costing 14. determine cost 30%
 Objective of Process Cost in a process
System costing
 Characteristics of a Process environment
Cost System 15. explain
 Comparison of Job Order treatment for
and Process Cost normal and
Accumulation System abnormal
 FIFO, LIFO and Weighted losses
average cost flow methods
 Treatment of Normal loss,
abnormal loss, Normal and
abnormal losses with scrap
value and waste with
Disposal Cost, Addition of
units and effect on cost,
Treatment of Abnormal gain
in process costing
C3. Service costing U, AP  Distinguishing features of 16. determine cost 10%

service costing of services
 Features of service
organization
 cost units and analysis
 Application of service
costing in different
organization
P a g e 9 | 158
Level of
Learning outcomes
of topics
required
C4. Standard costing R, U,  Purpose of Using Standard 17. determine 30%
AP, AN Costing standards for
&E  Variance Analysis different cost
 Materials, Labor and elements
overhead standards 18. compare
 Variance Analysis for Costs, actual and
volume and price variances, standard costs
sales mix, and yield in identifying
variances variances
 Responsibility analysis for 19. evaluate
cost variances variances for
corrective
 Reconcile standard profit
actions
and actual profit using
absorption and marginal
costing systems
 Accounting disposition of
variances
 Interpretation of variances
and Inter-relationships
between variances
C5. Joint product and AP, AN,  Joint Products in Process 20. account for 10%
by-product costing E, D Accounts joint and by-
 Accounting treatment of By- product
Products applying
 Methods of Allocation of different
joint cost methods
 Decision to sell by-product 21. decide whether
at the time of separation or to sell or
by further process process further
C7. Activity-based- R, U  Outline of an ABC system 22. understands 10%

costing  Cost Pools and Cost Drivers basic elements
 Designing an ABC system of ABC
 Absorption costing versus 23. outline the
ABC steps in
 Marginal costing versus ABC designing an
ABC system
 Benefits of ABC System
D. D1. Nature of cost R, U,  Characteristics of 24. analyze new 40%

Contemporary AN changed business business
accounting in environment
issues in cost models in
accounting
modern business  Fourth industrial modern
environment revolution and cost
(15%) business
accounting
environment
 Nature of cost accounting
information required in
the changed business
environment
 Challenges for Cost
accountant in providing
P a g e 10 | 158
Level of
Learning outcomes
of topics
required
information required in
the changed business
environment
D2. Lean Cost R, U,  Lean manufacturing 25. identify the key 60%
Management AN Overview elements in
 Defining and understanding lean cost
core lean tools management
 Effects of lean management 26. analyze lean
in the organization management
ecosystem
Here, R = Remembering,U=Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =

Decision making; are the seven levels of learning developed based on the Bloom’s Taxonomy.
Recommended books and Learning Materials

Primary Text Book
ICMAB. (2021). ICMAB Learning Manual for Cost Accounting. Dhaka: ICMAB
Recommended Text Book

1. Horngren, C. T., Datar, S. M., Foster, G., Rajan, M. V., and Ittner, C. (2009). Cost
Accounting: A Managerial Emphasis. India: Pearson Prentice Hall
2. Polimeni, R. S., Fabozzi, F. J., &Adelherg, A. H. (1991). Cost Accounting. McGraw Hill
Reference Books/Other Learning Materials

1. ICMAB. (2021). Bangladesh Cost Accounting Standards. Dhaka: ICMAB
2. CIMA. (2019). Management Accounting, Study Text. UK: Kaplan Publishing
3. Usry, M. F., & Hammer, L. H. (2013) . Cost Accounting. Thomson South-Western
COA Course Mapping
PrOs POs POs CLOs CLOs TLOs

PrO1 6 PO1 1, 7 CLO1 1, 2, 12, 15, 20, 23
PrO2 2, 3 PO2 1, 3, 4 CLO2 3, 6, 7, 8, 9, 10, 12
PrO3 6 PO3 2 CLO3 4, 5, 6, 14, 16, 20,
PrO4 2 PO4 5 CLO4 7, 10, 11, 13, 14, 17, 20, 22
PrO5 1, 6 PO5 6 CLO5 8, 13, 15, 20, 21,
PrO6 1 PO6 7 CLO6 7, 9, 14, 17, 18, 19, 21, 23
PrO7 4, 5, 6,7 PO7 5 CLO7 24, 25, 26
Here, PrOs = Program Objectives; POs = Pillar Objectives; CLOs = Course Learning Outcomes; TLOs = Topic
Learning Outcomes
P a g e 11 | 158
Course Title:
Management Accounting (MAC)

Cost & Management Intermediate Management CM231 100
Accounting [CMA] Level II Accounting
Syllabus Structure

A Management accounting fundamentals 10%
B Short term decision-making techniques 50%
C Performance measurement and control 25%
D Contemporary issues in management accounting 15%
Course Description
Management accounting, as the core discipline of cost and management accountants, provides
them with a sound understanding of the planning, decision making and control aspects of an
organization. This professional level course unit equips students with an introduction to
management accounting, short-term decision-making techniques, Performance measurement
and control and contemporary issues in management accounting so as to help them understand
the role of management accounting and control systems within organizations while improving
their knowledge of the use of accounting information in various managerial functions.
Course Objectives
Management Accounting is an essential tool that enhances a manager's ability to make effective
economic decisions. The course objective is to provide learners a good understanding about the
concepts and techniques of management accounting. The course also provides basic knowledge
on contemporary issues in management accounting so that the students get an overall idea on
contemporary issues of Management Accounting.

On successful completion of this course, the student will be able to:
1. understand the changing role of management accounting profession
2. illustrate the implications of cost behavior on costing
3. analyze revenue and costs in making managerial decisions
4. evaluate the behavioral aspects of different performance and control measures
5. prepare and utilize budget as a control mechanism
6. critically evaluate the appropriateness of different management accounting methods and
techniques
7. outline the strategic implications of environmental management accounting
P a g e 12 | 158
Detail Contents
Level of
Learning outcomes of Weight
Parts Topics Study Subtopics
topics (%)
required
A. A1. R, U  Branches of accounting 1. understand the 50%

Management Introduction  History of management evolution of
accounting to accounting management
fundamentals Management  Scientific management accounting
(10%) Accounting movement 2. explain the status
 Shift from cost management and role of
to cost accounting to management
management accounting accounting
 The changing Role of profession
Management Accounting
 Contemporary status of the
global management
accounting profession
 Data and Information
 ICMA Bangladesh and its
Role for Management
Accountancy profession
A2. Cost U, AN,  Cost behavior and levels of 3. analyze cost based 50%
behavior and C activity on activity levels
cost structure  Cost behaviors patterns 4. formulate cost
 Cost behavior classification formula in
issues and the need for explaining cost
different costs for different behavior
purposes
 Fixed Costs, variable costs
and semi-variable costs
 Linear Equations and Graphs
B. Short-term B1. Absorption U, AP,  Introduction to marginal 5. evaluate and 10%

decision- and variable E, C costing comment on
making costing  Principles of marginal costing business
techniques  Marginal costing versus performance under
(50%) absorption costing variable and
 Product and period cost absorption costing
under both methods 6. build arguments in
 Calculation of profit under application of
marginal and absorption absorption and
costing marginal costing
 Reconciliation of profit
B2. CVP U, AP,  Contribution margin 7. make short term 15%

Analysis AN, D  Break-even analysis decisions
 The concept of sales mix developing cost-
 Contribution margin versus volume-profit
gross margin relationships
P a g e 13 | 158
Level of
topics (%)
required
 Single product CVP, BEP 8. describe the
analysis and chart applications,
 Multiproduct CVP, BEP assumptions and
analysis and chart limitations
 Target profit analysis for underlying CVP
Single and multi-products analysis.
 Sensitivity analysis 9. conduct sensitivity
 Differences between the analysis
accountant’s and the
economist’s model of CVP
analysis.
 Underlying assumptions,
limitations and information
requirements for CVP
analysis
B3. Relevant U, AN,  Relevant Costs and Revenues 10. identify and 20%
Cost Analysis D analyze relevant
 Concept of Out-of-pocket costs in making
cost, Opportunity Cost, Sunk short- and long-
cost term decisions
 The Make or buy decision
 Special orders
 Application of relevant cost to
short- and long-term decision
making
B4. U, AP,  Product/customer/distributio 11. understand and 10%

Profitability AN, D n channel profitability application of
Analysis analysis different technique
 Product profitability analysis for profitability
and strategic cost analysis
management
 Pareto analysis
 Sales mix and quantity
variances
 Market share and size
variances
B5. Pricing U, AP,  Basis of pricing decision 12. decide prices 15%
Decisions and AN, E,  The economists’ approach to applying
Strategies D pricing appropriate
 Pricing methods methods
 Pricing for the short run 13. contrast short-term
 Pricing for the long run and long-term
pricing decisions.
 Target costing for target
14. explain the
pricing
importance of
 Service companies (Time and
qualitative factors
material pricing
in decision making.
 Pricing strategies for new
P a g e 14 | 158
Level of
topics (%)
required
products
 Special pricing decisions
(minimum pricingdecisions)
 Limiting factor analysis with
minimum demand constraint
B6. U, AP,  Organization structure and 15. prepare segment 15%

Responsibility C, D decentralization reports
accounting  Decentralization and segment 16. determine
and transfer reporting appropriate
Pricing  Responsibility centers transfer prices
 shared servicing based on the
 Responsibility accounting in context and guiding
Multi-National Companies principles
(MNCs) 17. build arguments on
the behavioral
 Basic principles of transfer
aspects of
pricing
responsibility
 Transfer pricing methods
accounting and
 Behavioral issues in transfer
transfer pricing
pricing
 Transfer pricing with an
imperfect or no external
market
 International transfer pricing
issues
 NBR guidelines in setting up
transfer prices
 Arm’s length principle and its
applications
B.7Quantitativ R,U,AP  Linear Programming 18. Understand 15%

e Techniques  Effects of Constraint different quantitative
for Planning techniques for planning
 Linear Programming
Requirements
 Optimal Solution under LP
using Graph and simplex,
Critical Path Method;
 Network Models
C. C1. Financial U, AN,  Types and time horizon of 19. build arguments on 30%
Performance and non- E, C, D performance measures the importance of
measurement financial  Alternative definitions non-financial
and control performance  Target level of performance performance
(25%) measures  Key performance indicators measures
(KPIs) 20. evaluate
 The Balanced Scorecard performance of
different
 Benchmarking
responsibility
 Performance Reports
centers
21. discuss the use of
P a g e 15 | 158
Level of
topics (%)
required
balanced scorecard
as an integrated
performance
measurement tool
in assessing
divisional
performance
C2. Budgeting U, AP,  Budgets and its cycle 22. explain the role of 40%
for planning AN, D  Forecasting budgeting as a
and control –  Steps in Budget preparation control mechanism
Master Budget  Financial planning models 23. prepare different
 Types of budget budgets applying
appropriate
 Preparation of complete
method
master budget
24. build argument for
 Different approaches to
better budgeting
budgeting
approach
 Preparation of projected
25. discuss the use of
Financial Statements
IT in budgeting
 Budgeting for non-
manufacturing organizations
 Budgeting for feasibility
reports
 Budgetary Planning and
Control system
 Concept of “Beyond
Budgeting”
 Project Monitoring
 Applicability of traditional
budgeting
 Use of spread sheets in
budgeting;
 impact of (ERP) on budgeting
C3. Flexible U, AN,  Static Budgets and Flexible 26. prepare flexible 30%
budget and D Budgets budgets in
variance  Variances analysis analyzing
analysis  Static Budget Variances performance and
 Steps in Developing a Flexible control
Budget
 Flexible Budgeting and ABC
 Planning and Fixed Overhead
Costs
 Budgeted overhead cost rates
 4-variances analysis approach
 Salesvolume variances and
the production-volume
variance
 Journal Entries for Overhead
Costs and Variances
P a g e 16 | 158
Level of
topics (%)
required
D. D1. U & AP  Introduction to EMA 27. Environmental and

Contemporar Environmental  The importance of Social Management
y issues in management incorporating environmental Accounting [also
management accounting costs and benefits in the known as
accounting (EMA) decision making Corporate Social
(15%)  Environmental footprints Responsibility
 Quantification of (CSR)] is changing
environmental costs and the way
benefits organizations go
 Challenges of implementing about their
EMA business. This topic
explores what 65%
ESMA is, and what
it means for
organizations, now
and in the future.
28. Describe
different
environmental
cost
categorization
methods.
D2. R,U, AN  Improvement in IT
Management and changed business
accounting in model
the changed
 Nature of MAC 29. Recognize the
business
information required changing role of
environment in the changed management
business environment 35%
accountants in the
changed business
 Skills required by
environment
Management
Accountant in the
changed business
environment
Here, R = Remembering, U= Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =


Primary Text Book
ICMAB. (2021). ICMAB Learning Manual for Management Accounting. Dhaka: ICMAB

Garrison, R. H., Noreen, E. W., and Brewer, P. C. (2010). Managerial Accounting. USA:
McGraw-Hill Irwin
P a g e 17 | 158
1. Horngren, C. T., Datar, S. M., Foster, G., Rajan, M. V., and Ittner, C. (2009).Cost
Accounting: A Managerial Emphasis. India: Pearson Prentice Hall
2. Horngren, C. T., Sundem, G. L., Stratton, W. O., Burgstahler, D., and Schatzberg, J. (2009).
Introduction to Management Accounting. India: Pearson Prentice Hall
3. Ross, S. A., Westerfield, R. W., &Jordan, B. D. (2003). Fundamentals of Corporate Finance.
New Delhi: Tata Mc.Graw – Hill Publishing Company
MAC Course Mapping
PrOs Pos POs CLOs CLOs TLOs

PrO1 6 PO1 1 CLO1 1, 2,
PrO2 PO2 2, 3, CLO2
2, 3 5, 6 3, 4, 5
PrO3 6 PO3 - CLO3 5, 7, 8, 10, 11
PrO4 2 PO4 4 CLO4 5, 6, 17, 18, 19, 20, 21,22, 26
PrO5 1, 6 PO5 4 CLO5 22, 23, 24, 25,26
CLO6 3, 5, 7, 8, 9, 11, 12, 13, 14, 15,
PrO6 1 PO6 7
16,18,20, 24
PrO7 4, 5, 6,7 PO7 7 CLO7 27, 28,29
Learning Outcomes
P a g e 18 | 158
Course Title:
Strategic Cost Accounting (SCA)

Cost & Management Advanced Strategic Cost CM341 100
Accounting (CMA) level I Accounting
Syllabus Structure

A Strategy, MCS, and Strategic cost management 15%
B Cost analysis and techniques 50%
C Cost management in Lean environment 20%
D Contemporary issues in strategic cost management 15%
Course Description
This course covers contemporary cost accounting techniques incorporating information from
external environment in designing an effective and efficient cost accounting system. The course
starts with explaining management control systems, shading light on the relevant strategy and
strategic cost management. Focus is then given to explicate process of different cost analysis
techniques. In explaining the cost management in lean environment - the JIT, TQM and flexible
manufacturing systems are used for theefficiencies and economies of scale with mass
production. This course also introduces the concept of contemporary issues in strategic cost
management. Learners of this course will be exposed to various practical exercises for activity-
based costing management, life cycle costing, throughput accounting, total quality management,
environmental cost accounting, and sustainable cost reporting etc.
Course Objectives
The specific objective of this course is to empower learners to acquire knowledge and
understanding of the concepts, techniques and practices of strategic cost accounting to develop
skills for decision making. This course ensures the advanced knowledge of strategic cost
accounting for varied organizational contexts in terms of strategy, industry, stage of
development, and focus. It locates management accounting techniques within a broader
strategic framework that examines the various decisions that organizations need to make in
configuring themselves to generate superior financial returns as well as broader notions of
environmental and social value. Successful completion of this course will provide learners an
effective communication skill necessary to succeed in a strategic analysis and capacityto
interpret complex financial and operational data that can drive recommendations to internal &
external stakeholders.

P a g e 19 | 158
1. Understand the requirements and need for MCS and SCM aligning with organizational
strategy
2. Identify the factors influence implementation of SCM techniques in different organizations
3. Apply SCM techniques in achieving strategic goals
4. Recognize the fundamental philosophy and process of different cost management techniques
in a lean environment
5. Describe the underlying provisions of BCAS in adopting SCM techniques
6. Understand the need for ECA and sustainable cost management
7. Build argument in redesigning CAS of an organization for change management
Detail Contents
Level of
Learning Outcomes of Probable
Topics weight
required
A. Strategy, A1. R, U  Management accounting 1. understand the link 30%

MCS, and Management (MAC), management among MAC, MAS,
Strategic Cost control accounting system (MAS) and MCS
Management systems (MCS) and Management control 2. identify the
(15%) systems (MCS) elements relevant
 Concepts of controls in for MCS
MCS
 The dynamic nature of
MCS
 MCS techniques
A2. Strategy, U,  Concept of strategy 3. recognize SCM as a 70%

and Strategic AP,AN,D  Emergence of SCM separate discipline
cost  Concept of SCM 4. demonstrate the
management  Key themes in SCM: value application of SCM
(SCM) chain analysis, cost driver framework within
analysis and competitive an articulated
advantage analysis strategic context
 Articulation of strategic
context
 Application of SCM
framework
B. Cost B1. Activity- U, AP,  Strategic elements in the 5. recognize the 15%
analysis and based costing AN, D ABC/ABM system strategic elements in
techniques (ABC) and  Design of ABC system the ABC/ABM
(50%) activity-based  Benefits and limitations system
management of ABC 6. illustrate how ABC
(ABM)  Application of ABC/ABM can facilitate several
 Use of ABC/ABM in strategic options
improving activities
 Variance analysis in ABC
system
 ABC in service
P a g e 20 | 158
organizations
 Time-driven ABC
 Two-dimensional
ABC/ABM system
B2. Target U, AP, AN  Underlying philosophy of 7. identify the factors 15%

costing (TC) TC influence target
 Western vs. Japanese cost costing
management 8. illustrate the
 Factors influencing the application of TC
TC process
 Process of target costing
 Application of TC
indifferent sectors with
special focus on market
driving, product level and
component level TC
 TC vs. Kaizen costing
B3. Quality R, AP, AN  Cost of quality models 9. describe the 15%

costing (QC)  P.A.F models of QC underlying
 Trade-off between philosophy of QC
thelevels of conformance 10. illustrate the
and non- application of
conformancecosts different QC models
 Opportunity/Intangible
cost models
 ABC models of QC
 Application of QC
indifferent sectors
B4.Life-cycle U, AP, AN  Concept of LCC 11. identify the 15%

costing (LCC)  Underlying features of elements associated
LCC in LCC
 Significance and benefits 12. illustrate the
ofLCC framework for
 Application of LCC considering the
 LCC for project entire incremental
costs over the total
 Limitations of LCC
life extentof a
 Life-cycle budgeting
product/project.
B5. Value AP,C, D  Fundamentals of VCC 13. identify the 15%

chain costing  Phases in value chain underlying features
(VCC)  Application of VCC of VCC
indifferent industries 14. illustrate
 Challenges of accomplishment of
implementing VCC across competitive
industries advantage using
VCC
P a g e 21 | 158
B6. Competitor R, U, AP,  Fundamentals of CCA 15. identify and 15%

cost D  Sources of competitors’ describe sources of
assessment cost information competitor’s
(CCA)  Analysis of information
competitors’cost 16. demonstrate the
structure application of CCA
 Sectoral application CCA antedate the reply of
 Assessing the each contender to
relativestrengths and the likely strategic
weaknesses of changes
competitors
 Implementation
Challenges withthe CCA
B7. Attribute U, AP, AN  Identification of product 17. recognize product 10%

costing attributes attributes valued by
 Concepts of sustainable customers
product attributes 18. illustrate attribute
portfolio analysis for firm’s
 Application of attribute strategic choices
costing as a tool to
respond to competition
 Strategic implications of
attribute costing
 The implications
ofattribute costing for
SMA
C. Cost C1. JIT AP, E, C  Concepts of 19. identify the 50%

management Production, leanenvironment underlying features
in Lean Throughput  Pre-requisites of a JIT of JIT system
environment. and Back flush system 20. demonstrate the
(20%) Accounting  Influence of JIT application of JIT
Systemon Performance system in different
 Measurements used in industries
aJIT system 21. illustrate how the
 JIT in Practice application of JIT
system supports
 Throughput
strategic choices
accountingpractice
 Theory of constraints
 Back-flush accounting
C2.Total R, AP,  TQM: fundamentals, 22. recognize the 35%

quality AN,D phases, philosophies, underlying concepts
management control, corrective actions of TQM
(TQM)  PRAISE – stages, 23. demonstrate
difficulties, application implications of TQM
 Quality CostingReport in attainment of
 Continuous strategic goals
Processimprovement
P a g e 22 | 158
C3. Flexible AP, AN,D  Fundamentals of FMS 24. ExplainFMS in 15%
manufacturing  Approaches to FMS reducing cost and
system (FMS)  Routing flexibility vs. improving
Machine flexibility productivity and
 Benefits of FMS quality
 Challenges of FMS
D. D1. R, AN, E,  Concepts of 25. explain the 50%

Contemporary Environmental C environmental cost underlying features
issues in cost accounting of ECA system
strategic Cost accounting  Purpose of ECA 26. outline the process
Management (ECA) Controlling of an ECA system
(15%)  Structure of ECA
 Factors contingent to the
application of ECA
 Environmental cost audit
D2. Cost R, AP, C,  Underlying 27. sketch out a typical 25%

structure U characteristics of a public cost structure
analysis in sector organization followed in a public
public sector  Nature of cost structure sector organization
organizations in a public sector
organization
 Planning and budgeting
concept
 Evaluation of
performance and control
 Practical perspective
D3. R, AN, E,  Concept of Sustainability 28. recognize the 25%

Sustainable C  Development of cost fundamentals of
cost structures that supports sustainable cost
management sustainable competitive management
advantage 29. develop a
 Strategic cost benefit sustainable solution
analysis for cost
 Business case for management
sustainable cost
management
 Challenges in the
establishment of
sustainable cost
management
Here, R = Remembering, U = Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =


Primary Text Book
ICMAB. (2021). ICMAB Learning Manual for Strategic Cost Accounting. Dhaka: ICMAB
P a g e 23 | 158
Shank, J. H., Shank, J. K., Govindarajan, V., & Govindarajan, S. (1993). Strategic cost
management: The new tool for competitive advantage. Simon and Schuster.
Reference Books/Learning Materials

1. CMA, Sri Lanka. (2017). Study Pack on Corporate Governance, Control Strategy & Ethics.
Colombo: CMA
2. ICAI. (2018). Strategic Cost Management and Decision Making, Study Notes. Kolkata: ICAI
3. ICAI. (2014). Business strategy and strategic cost management, Study Notes. Kolkata: ICAI
4. Govindarajan, V., & Shank, J.K. (1992). Strategic cost management: tailoring controls to
strategies. Journal of Cost Management, 6(3), 14-25.
5. Shank, J.K. (1989). Strategic Cost Management: NewWines or Just New Bottles? , Journal
of Management Accounting Research , Fall , 47 – 65
SCA Course Mapping

PrO1 6 PO1 1 CLO1 1, 2, 3, 4, 6, 8, 10, 16, 18, 21
PrO2 2, 3 PO2 2, 3 CLO2 4, 5, 7, 9, 11, 13, 15, 17, 27
PrO3 6 PO3 5 CLO3 6, 8, 10, 12, 14, 16, 18, 23
PrO4 2 PO4 3 CLO4 19, 20, 21, 22, 23, 24
PrO5 1, 6 PO5 - CLO5 5, 6, 9, 10, 12, 13
PrO6 1 PO6 4 CLO6 25, 26, 28, 29
PrO7 4, 5, 6,7 PO7 4, 6, 7 CLO7 21, 23, 24, 26, 27, 29
Learning Outcomes
P a g e 24 | 158
Course Title:
Strategic Management Accounting (SMA)
Cost & Management Advanced Strategic CM451 100
Accounting [CMA] level II Management
Accounting
Syllabus Structure
A Strategic management accounting (SMAC) systems 25%
B Strategic capital budgeting 25%
C Performance measurement and evaluation 20%
D Strategic pricing 15%
E Contemporary issues in SMAC 15%
Course Description
This course is designed to furnish knowledge on the strategic aspects of management accounting
practices. The course starts with explaining the strategy, strategic management, and criteria for
isolating strategic management accounting (SMAC) techniques from traditional management
accounting techniques. Focus is then given to elucidate the application of different strategic-
oriented management accounting techniques. Eventually, the learners of the course will
understand the application SMAC tools in supporting strategic decision-making process. This
course also introduces the role of management accountant in the face of Fourth Industrial
Evolution and changed business models. Learners of this course will be exposed to various
practical exercises and cases to make them capable to generate and supply management
accounting information crucial to make strategic decision.
Course Objectives
The main objective of this course is to enable learners to produce and supply cost management
information to support strategic decision making under varying degrees of risk and uncertainty.
This course ensures the identification and application of externally focused and long-term
oriented innovative cost management tools to transform the role of management accountant
from bean counter to capable business partners. The course aims to provide a comprehensive
knowledge on a package of strategic-oriented management accounting tools that can be used to
demonstrate the ways of achieving competitive advantages in the changed business
environment. Successful completion of this course will provide learners confidence, foundation,
and skills required to grasp knowledge of the information needs of strategic decision-making
process.

P a g e 25 | 158
1. understand the fundamental difference between traditional management accounting and
strategic management accounting
2. apply the SMAC tools that supports strategic decision process
3. illustrate the application of competitor and customer accounting to identify key sources of
competitive advantages
4. demonstrate how performance measurement system can be aligned with business strategy
pursued
5. recognize and address the key issues associated with international and strategic capital
budgeting for private and public sectors
6. understand the role of management accountant in the face of IR 4.0 and in emerging
business models
7. build argument for changes in MAS necessitated for sustainability and by the dynamic
business environment
Detail Contents
Level of
learning outcomes of Probable
topics weight
required
A. Strategic A1. Strategy, R, U  Define strategy 1. discuss how 20%

management strategic  Strategic management organizational
accounting management (SM) perspectives strategy is
(SMAC) and SMAC  Emergence of SMAC directional towards
systems (25%)  SMAC vs. traditional SM process
management accounting 2. identify the criteria
(MAC) techniques used to isolate SMA
 Overview of SMA from traditional
techniques MAC tools
A2. Competitor U, AN,  Fundamentals of 3. explain the core 40%

accounting E competitor accounting features of
 Competitive position competitor
monitoring accounting
 Competitor performance 4. analyze and
appraisal based on evaluate
published financial organization’s
statements competitive position
 CORE analysis to identify
the key sources of
competitive advantage
A3. Customer U, AP,  Customer accounting 5. conduct customer 25%

accounting AN fundamentals profitability analysis
 Customer profitability 6. illustrate how
analysis (CPA) customers can be
 Valuation of customers valued as assets
as assets
A4. Brand U, AP,  Fundamentals to brand 7. assess the 15%
P a g e 26 | 158
Level of
topics weight
required
valuation AN valuation brandvalue
 Financial valuation of considering the
brand brand strength
 Discounted cash flow factors
(DCF) techniques of
brand valuation
B. Strategic B1. Capital R, AP,  Capital budgeting 8. evaluate project’s 20%

capital budgeting AN, E, process financial feasibility
budgeting techniques D  Estimating project cash 9. prepare an
(25%) flows under different investment project
conditions proposal
 Project evaluation and
selection
 Capital rationing
 Sensitivity analysis
 Project monitoring and
control
 Generating investment
project proposal
B2. Investment U, AP,  Use of multiple discount 10. compute real and 20%
appraisal AN, E, factors nominal discount
further D  Modified Internal rate of factors
techniques return (MIRR) 11. evaluate an
 Adjusted Present Value investment project
method using MIRR
 Uncertain cash flows 12. illustrate the capital
 Capital rationing over rationing process
multiple periods
B3.Internation R, AP,  Issues relating to 13. recognize risks 20%

al investment C, E, D international finance associated with
appraisal  Forecasting cash flows international
from international expansion
projects 14. illustrate how to
 International project evaluate an
appraisal international
 Additional complexities investment project
in foreign investment
appraisal
 Financing overseas
projects
B4. U, AP  Fundamentals of 15. illustrate the steps 10%

Implementatio investment cycle involved in the
n and control  Project implementation investment cycle
procedures  Project monitoring and 16. demonstrate post-
control audit of an
 Post audit of investment investment project
P a g e 27 | 158
Level of
topics weight
required
project
B5. Risk and U, AP,  Nature of risk and 17. evaluate projects 20%
uncertainty in AN, E, uncertainty associated considering risks
long term D with decision making and uncertainties
decisions  Risk-adjusted discount 18. illustrate ‘what if’
rate analysis under
 Risk-based decision- different level of
making techniques operations
 Decision trees
 Sensitivity analysis
 ‘What if’ analysis
 Simulation models
B6. Strategic U, C  Alignment of capital 19. align investment 10%

issues in budgeting decision to decisions with
capital strategy pursued strategy
budgeting  Further issues in the
alignment process
C. C1. Integrated U, AP,  Fundamentals of IPM 20. contrast traditional 45%

Performance performance E, C and BSC performance
measurement measurement  Perspectives of BSC measurement with
and evaluation (IPM) and  BSC and strategy IPM
(20%) Balanced  BSC and performance 21. demonstrate the
Scorecard  Key performance transformation of
(BSC) indicators BSC from
performance
 BSC in non-profit and
measurement to
public sector
strategic
organizations
management
 Sustainable BSC
22. illustrate how BSC
affect performance
C2. R, U, AP  Nature of Responsibility 23. illustrate the 30%

Responsibility accounting in MNC procedure of setting
accounting in  International transfer transfer price in
MNC pricing issues MNC
 OECD guidelines in 24. recognize the
setting up transfer price impact of tax rules
 Optimal transfer price on transfer prices
 Negotiated transfer price
 National Board of
Revenue (NBR)
guidelines in setting up
transfer price
C3. U, E  Benchmarking 25. evaluate the 25%

Benchmarking  Internal benchmarking implications of
 External benchmarking benchmarking on
P a g e 28 | 158
Level of
topics weight
required
 Strategic issues in entity’s position
benchmarking
D. Strategic D1. Pricing AN, C  Key issues in pricing 26. generate price for 30%
pricing (15%) products and decisions products/services
services  Traditional approach to identifying relevant
pricing key factors
 Pricing strategies for new
products
D2. Strategic R, AN,  Drawbacks of traditional 27. identify the pitfalls 70%
issues in E, C pricing of traditional
pricing  Pricing as a tool of pricing
decision strategic positioning 28. illustrate the
 Setting prices procedure of setting
strategically price strategically
 SMA as the basis for
pricing
E. E1. Corporate U, AP, C  Concepts of corporate 29. integrate 30%

Contemporary sustainability sustainability sustainability into
issues in SMA and SMA  Triple bottle line corporate
(15%) system framework management
 Sustainability as a tool 30. explain the role of
for competitive SMA in achieving
advantage sustainability
 Dimensions of
sustainability
 Sustainability in the
value chain
 SMA and corporate
sustainability
 Role of management
accountant as a business
partner
 SMA in the new business
model
E2. Strategic U, AP, C  Nature of public sector 31. recognize the core 40%
issues in Public management accounting features of public
sector (MAC) sector mac system
management  Strategic issues in State- 32. illustrate the
accounting owned enterprises’ MAC procedure of PPP
system investment
 Public private appraisal
partnership (PPP)
investment appraisal
E3. SMA in the U, AP  Business environment in 33. illustrate the 30%
P a g e 29 | 158
Level of
topics weight
required
Fourth IR 4.0 applicability of SMA
Industrial  SMA in the face of IR 4.0 in the AI, block
Revolution  SMA in addressing chain, cloud
(IR 4.0) and climate change computing, and big
climate change data environment


Primary Text Book
ICMAB. (2021). ICMAB Learning Manual for Strategic Management Accounting. Dhaka:
ICMAB
Recommended Text Books

1. Hoque, Z. (2006). Strategic Management Accounting. Australia: Pearson Education
2. Hilton, R. W., Maher, M. W., & Selto, F. H. (2003). Cost Management: Strategic for
Management Decisions. New York: McGraw-HillIrwin

1. Kaplan, R. S., & Atkinson, A. A. (1998).Advanced Management Accounting. Prentice-Hall
2. Garrison, R.H., Noreen, E.W., & Brewer, P.C. (2018). Managerial Accounting. New York:
McGraw-HillHigher Education
SMA Course Mapping

PrO1 6 PO1 1, 6 CLO1 1, 2, 27
PrO2 2, 3 PO2 2, 3, 5 CLO2 4, 6, 7, 14, 18, 19, 21, 24, 25, 26, 27, 28
PrO3 6 PO3 - CLO3 3, 4, 5, 6, 7
PrO4 2 PO4 2 CLO4 20, 21, 22, 22, 23, 25
PrO5 1, 6 PO5 4 CLO5 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 32
PrO6 1 PO6 3 CLO6 29, 30, 33, 31
PrO7 4, 5, 6,7 PO7 7 CLO7 6, 13, 14, 24, 29, 30
Here, PrOs = Program Objectives; POs = Pillar Objectives; CLOs = Course Learning Outcomes; TLOs =
Topic Learning Outcomes
-------0--------
P a g e 30 | 158
Financial Accounting and Corporate Reporting Pillar
Financial Accounting & Corporate Reporting (FACR) pillar aims to provide aspiring professional
accountants a clear understanding of the accounting cycle for different contexts. This pillar is
designed to enable learners in providing information that satisfies the fundamental qualities of
information. Knowledge from this pillar will equip learners with the technical skills in reporting
accounting information through financial statements for single entities and group scenarios
applying appropriate ethical standards, relevant accounting standards, and other relevant
regulatory requirements. It is expected that by conceptualizing the contents of different courses
under the pillar, learners be proficient in understanding and applying the International
Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS).FACR
pillar consists of one module in each of the different CMA professional levels. The first course of
the pillar is the Fundamentals of Financial Accounting (FFA, in the foundation level), followed
by the Intermediate Financial Accounting (IFA, in the intermediate level), and the Advanced
Financial Reporting (AFR, in the advanced level). At the foundation level, learners will be
exposed little to the IAS and IFRS, which are mainly covered at the intermediate and advanced
levels of the CMA professional program.
Pillar Objectives
On successful completion of the FACR pillar, the aspiring professional accountantsshall be able
to:
1. apply the conceptual and regulatory framework of financial accounting.
2. underpin the significance of ethics in accounting.
3. apply double-entry accounting in completing the stages of an accounting system.
4. account for transactions following the relevant accounting standards and regulatory
requirements.
5. develop financial statements in a single entity or group scenario in conformity with the
accounting standards.
6. analyze and interpret financial statements.
7. explain the implications of different regulatory & environmental changes on financial
reporting.
P a g e 31 | 158
FACR Pillar: Contents Mapping
Conceptual and Regulatory

Framework of Accounting
Accounting for
Accounting as Revenue and Taxes
Reporting an information
Standards system Accounting for Assets
[I-P-O]
Accounting for liabilities
Single Group of
Entity Financial Statements Entities
Analysis and
Interpretation
Integrated Reporting
Professional Ethics
P a g e 32 | 158
Course Title:
Fundamentals of Financial Accounting (FFA)
Financial Accounting & Foundation Fundamentals of FR111 100

Corporate level Financial Accounting
Reporting[FACR] (FFA)
Syllabus Structure
A Accounting framework 10%
B Accounting as an information system 30%
C Accounting for assets 20%
D Accounting for single entities 40%
Course Description
This course is designed to cater to the needs of a learner with little or no prior accounting
knowledge. As such, the course starts with explaining the accounting framework, shading light
on the relevant conceptual and regulatory requirements. Focus is then given to elucidate how
accounting works as an information system. In explaining the system, the IPO model is used for
the logical sequencing of different stages in the accounting cycle. Eventually, the learners of the
course will understand the process and concerns in preparing financial statements for single
entities considering the nature of the entity’s operation. This course also introduces the concept
of ethics and different measures used in controlling the accounting systems. Learners of this
course will be exposed to various practical exercises for mastery of the basic accounting
knowledge & skills and thus, little emphasis is given on the applications of accounting standards
unless specifically mentioned.
Course Objectives
The main objective of this course is to enable learners to complete the accounting cycle at a low
level of ambiguity, complexity, and uncertainty. This course ensures the conceptual foundation
of financial accounting for a learner from a non-accounting background in completing tasks of
the input, processing, and output stages of the accounting information systems. The course aims
to provide the basic accounting concepts and principles that one can apply in preparing financial
and related information for a single entity scenario to meet internal needs and external
obligations. Successful completion of this course will provide learners confidence, foundation,
and technical proficiency to clutch knowledge of the Intermediate Financial Accounting module
of the FACR pillar.
P a g e 33 | 158
On successful completion of this course, the aspiring professional accountantsshall be able to:
1. understand the conceptual and regulatory framework of financial accounting.
2. apply the double-entry system in recording transaction data to produce accounting
information.
3. illustrate different steps in the accounting cycle
4. rectify accounting records, whenever necessary.
5. prepare financial statements for single entities in a non-complex scenario considering the
nature of the business operation.
6. understand accounting treatment for inventories, receivables, fixed and current assets,
natural resources, and intangible assets.
7. understand the ethical considerations in accounting, performance evaluation, and
harmonizing accounting practices.
Detailed Contents
Level of
Learning outcomes of Probable
topics weight
required
A. A1. R, U  Define accounting 34. discuss how different 25%

Accounting Accounting  State the environment an agents shape
framework and its accountant works accounting
(10%) environment
 Agents in the accounting 35. explain the

environment contextual needs of
 Accounting environment accounting standards
in Bangladesh
 Branches of accounting
A2. R, U  Explain the need for 36. recognize the 50%

Conceptual financial records importance of book-
framework of  Users of accounting keeping for different
financial information users
accounting  Qualitative characteristics 37. explain different
of accounting information segments of the
 Underlying assumptions, conceptual
convention, policies, and framework
changes in accounting 38. discuss the
estimates significance of ethics
 Key elements of financial on accounting
statement 39. explain various
stages of an
 Ethical issues in financial
accounting cycle
accounting
 Stages of the accounting
cycle
P a g e 34 | 158
Level of
topics weight
required
 Concept of an integrated
report
A3. R, U, C  Role of legislation on 40. outline the relevant 25%

Regulatory published accounting regulatory
framework information requirements
for financial  Bangladesh accounting 41. list different
accounting standards accounting standards
 Role of accounting 42. describe how
standards in preparing standards are
financial statements formulated
 Approaches in developing 43. build arguments on
accounting standards the harmonization of
 Harmonization of accounting standards
accounting standards
B. B1. Input R, AP,  Source documents 44. analyze the impact of 25%
Accounting stage of AN  Double-entry system transactions on the
as an accounting  Accounting equation financial status of
information information  The golden rule of debit the business
system systems (AIS) and credit 45. illustrate double
(30%)  Journal entries entry systems in
recording
 Special journals
transaction
 Petty cash statement
46. demonstrate
recording of frequent
transactions
B2. U, AP, E,  Chart of accounts and 47. perform posting of 20%

Processing C coding system in the initial records to
stage of an accounting the ledger accounts
AIS  Types of accounts 48. generate a trial
including suspense balance to prove the
account accuracy of ledger
 Ledger accounts posting
 Personal and control 49. evaluate accounts
accounts through general and
 Trial balance subsidiary ledgers
B3. Adjusting R, AP, C  Omissions, errors, and 50. perform necessary 40%
accounting periodic adjustments adjustments
records  Accruals and prepayments whenever needed
 Types of adjusting entries 51. compose an adjusted
 Adjusted trial balance trial balance
P a g e 35 | 158
Level of
topics weight
required
B4. Output U, AP, C  Worksheet 52. formulate a working 15%

and accounts  Components of a set of paper before formal
closing stage financial statements reports
of an AIS  Closing entries 53. describe the
 Post-closing trial balance components of a set
of financial
statements
54. perform tasks of
closing accounts
C. C1. AP, E, C  Methods of inventory 55. perform recording 60%

Accounting Accounting valuation and valuation of
for assets for current  Periodic and perpetual inventory
(20%) assets inventory systems 56. compose an aging
 Implications of inventory schedule
valuation 57. determine the value
 Aging schedule of receivables
 Accounting for bad debts 58. evaluate cash book
records with the
 Bank reconciliation
bank statement
statement
C2. R, U, AP  Tangible and intangible 59. identify the nature of 40%

Accounting assets non-current assets
for non-  Capital and revenue items 60. contrast capital and
current assets  Non-current asset register revenue items
 Depreciation and 61. compute
amortization depreciation under
different methods
D. D1. R, AN, E,  Types of business entities 62. identify the impacts 40%
Accounting Accounting C  Accounting for varying of the types of
for single for different types of business entities business on
entities business  Single and multiple-step accounting
(40%) types income statements 63. compose income
 Manufacturing accounts statement of
 Shares and debentures different formats
64. analyze the links of
 Accounts from incomplete
different accounts
records
D2. AP, C  Statement of financial 65. compose a complete 60%

Preparation position set of financial
and  Income statement statements following
interpretation  Statement of changes in IAS 1 in a non-
of financial equity complex scenario
statements  Statement of cash flows 66. compute basic ratios
P a g e 36 | 158
Level of
topics weight
required
 Basic financial ratios to infer financial

performance
Here, R = Remembering,U = Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =


Primary Textbook
ICMAB.(2021). ICMAB Learning Manual for Fundamentals of Financial Accounting.Dhaka:
ICMAB
Recommended Textbook
Weygandt, J. J., Kimmel, P. D., and Keiso, D. E. (2018).Accounting Principles. USA: Jhon Wiley
& Sons, Inc.

1. Edwards, J.D., Hermanson, R.H., & Maher, M. W. (2011). Accounting Principles: A Business
Perspective, Financial Accounting. CreateSpace Independent Publishing Platform
2. Skousen, K. F., Albrecht, W. S., Stice, J. D., &Stice, E. K. (1998). Accounting Concepts and
Applications. South-Western College Pub
FFA Course Mapping
PrO1 5 PO1 1 CLO1 1, 2, 3, 4, 5, 7, 8, 9, 10, 27, 29, 31
PrO2 1, 4 PO2 7 CLO2 11, 12, 13, 14, 15, 16, 22, 23,
PrO3 2 PO3 2, 3, 4, 6 CLO3 6, 12, 13, 14, 20, 21,
PrO4 - PO4 5 CLO4 17, 18, 25, 28, 31,
PrO5 3, 5 PO5 5, 6 CLO5 19, 20, 21, 22, 26, 30, 31, 32, 33
PrO6 6 PO6 7 CLO6 22, 23, 24, 25, 26, 27, 28
PrO7 6, 7 PO7 7 CLO7 5, 10, 33
Learning Outcomes
P a g e 37 | 158
FFA Contents Mapping
Accounting information systems
B1. Input
A1.Accounting and
its environment
A2. Conceptual
framework B2. Processing
B3. Adjusting
the accounts
A3. Regulatory
framework B4. Output
Accounting for –
D1. Financial statements C1. Current assets
C2. Non-current assets
D2. Business types
P a g e 38 | 158
Course Title:
Intermediate Financial Accounting (IFA)
Knowledge Pillar Level Course Title Course Total Marks

Code
Financial Accounting Intermediate Intermediate FR222 100
and Corporate level I Financial
Reporting [FACR] Accounting (IFA)
SyllabusStructure

A Conceptual framework for financial accounting 5%
B Preparation of financial statements 50%
C Accounting for Assets and Liabilities 35%
D Accounting for revenue and taxes 10%
Course Description
Intermediate Financial Accounting is the second of three courses designed for the Financial
Accounting and Corporate Reporting (FACR) pillar. It is designed to discuss the reporting
framework and ethics, basic issues related to measurement, reporting of financial statements,
and disclosure issues related to financial statements in conformity with IFRS. Also, the course
provides information relating to revenue recognition and accounting for income tax.
Course Objectives
The objective of the course is to provide students with a depth understanding of financial
accounting issues. The course is designed to enable students to exercise appropriate judgment in
selecting and presenting accounting information and provide students with an in-depth
understanding of emerging financial accounting issues.

1. understand the accounting framework accommodating the ethical codes set by the IFAC for
professional accountants
2. describe the provisions and the underlying principles of different accounting standards
3. account for assets and liabilities following the conceptual framework and the accounting
standards
4. select and present information relating to revenue recognition
5. demonstrate accounting for income taxes
P a g e 39 | 158
6. prepare and present information on the financial statements in conformity with accounting
standards
7. develop a reasoned argument for the familiar and unfamiliar problems relevant to financial
statements
Detailed Contents
Level of
Topics Weight
Required
A. A1. Financial U  Purpose of 1. explain the objectives 30%

Conceptual Reporting and Financial of financial reporting
framework Accounting Statements 2. discuss the challenges
for financial Standards  Standard Setting facing financial
accounting Organizations reporting.
(5% Marks)  Financial Reporting
Challenges
A2. Conceptual U, AP  Conceptual 3. describe the 70%

framework and Framework conceptual framework
Ethical issues  Fundamental for financial
Concepts accounting
 Elements of 4. explain the
Financial application of the
Statements basic assumptions
 Assumptions and principles of
 Measurement, accounting
Recognition, and 5. demonstrate the
Disclosure ethical and
Concepts professional issues for
a professional
 Ethical and
accountant
Professional Issues
B. B1. Set of U, AP  General Features of 6. explain the purpose 40%

Preparation financial IAS 1 and principles
of financial statements  Structure and detail underlying IAS 1
statements contents of 7. prepare and present
(50%) financial the financial
statements statements of an
 Statement of entity according to its
Financial Position accounting policies
 Statement of Profit and appropriate
or Loss and Other IFRSs.
Comprehensive
Income
 Statement of
Changes in Equity
 Presentation, notes,
and disclosure to
the financial
statements
P a g e 40 | 158
Level of
Topics Weight
Required
B2. Cash Flow U, AP, E  Cash Flow 8. explain the purpose 20%
Statement Statement under and principle of IAS 7,
direct and indirect 9. prepare a statement
methods of cash flows
 Cash Flow 10. evaluate special
Statement using the issues in preparing a
direct method statement of cash
 Special problems in flows
preparing a
statement of cash
flows
 Interpretation of
Cash Flows
Statement
B3. Reporting U, AP  Types of accounting 11. describe treatment for 30%

Financial changes accounting changes
Performance  Changes in 12. explain the purpose
and Related accounting policies and disclosure
Information  changes in provisions of IAS 8,
estimates IAS 24, IAS 33, IFRS
 Related Party 5, and IFRS 8
Disclosures 13. explain the
 Non-Current assets accounting treatment
held for sale and for operating
discontinued segments as per IFRS
operations 8
14. compute earnings per
 Operating
share
Segments
 Earnings per share
B4. Other U, AP, E  Recognition, 15. apply the accounting 10%

Reporting measurement, and and disclosure
disclosure of requirements of IAS
provisions 10 and IAS 37
 Contingent assets 16. contrast between
 Contingent events after the
liabilities reporting period that
 Events after the require adjustment
Reporting Period and those that require
disclosure only
C. C1. Current U, AP, AN  Reporting of cash 17. discuss how to report 10%
Accounting Assets and and cash cash and related
for Assets Current equivalents items,
and Liabilities  Recognition and 18. explain the valuation
Liabilities valuation of and reporting of
(35%) receivable receivables and
 Nature of Current current liabilities
P a g e 41 | 158
Level of
Topics Weight
Required
Liabilities,
 Valuation and
reporting of
Current Liabilities
C2. Inventories U, AP  Definition and 19. apply the main 20%

measurement of provisions of IAS 2
Inventories
 Inventory valuation
method
 Net realizable value
 Recognition as
expense
 Disclosure
C3. Property, U, AP, AN,  Recognition of PPE 20. discuss the 20%
Plant, and C  Measurement and accounting standards
Equipment recognition applicable for PPE
(PPE)  Borrowing costs 21. argue for cost or
 Measurement of revaluation model
PPE after initial 22. conduct impairment
recognition test
 Accounting for
revaluation
 Impairment of
assets
 De-recognition of
PPE
 Disclosure
C4. Intangible U, AP, AN  Characteristics of 23. explain the 10%

assets intangible assets accounting treatment
 Recognition and for various intangible
measurement of assets as per IAS 38
intangible assets 24. illustrate the
 Internally accounting issues for
generated assets recording goodwill
 Disposal and
disclosure
 Goodwill
C5. Leases U, AP  Types of lease 25. understand the 20%

 Accounting for a purpose and
finance lease principles underlying
 Allocation and IFRS 16
calculation of 26. apply accounting
finance charges requirements for lease
 Disclosure and by leasee and lessor.
other issues
 Operating lease
P a g e 42 | 158
Level of
Topics Weight
Required
 Accounting for
lease by leasee and
lessor.
C6. Non- U, AP, AN  Bonds payable 27. explain the 10%

Current  Long-term notes accounting for and
Liabilities payable extinguishment of
 Extinguishment of non-current liabilities
non-current 28. present and analyze
liabilities non-current liabilities
 Presentation and
analysis
C7. Financial U, AP  Financial 29. prepare and present 10%

Instruments Instruments extracts of financial
recognition and statements in light of
measurement IAS 32, IAS 39, and
 Financial IFRS 7.
Instruments
presentation
 Financial
Instrument
disclosure
D. D1. Revenue U, AP  Fundamentals of 30. describe the 50%

Accounting Recognition Revenue fundamental concepts
for revenue recognition of IFRS 15
and taxes  The Five-Step 31. recognize and
(10%) Process of revenue measure revenue
recognition 32. describe presentation
 Accounting for and disclosure
Revenue regarding revenue.
Recognition Issues
 Presentation and
Disclosure
 Long-Term
Construction
Contracts
 Revenue
Recognition Over
Time
D2. Accounting U&A  Fundamentals of 33. compute the current 50%

for taxation Accounting for tax and deferred tax
Income Taxes 34. disclose tax in the
 Current tax financial statements
 Deferred tax
 Financial
Statement
presentation
P a g e 43 | 158

Primary Textbook
ICMAB.(2021). ICMAB Learning Manual for Intermediate Financial Accounting.Dhaka:
ICMAB
Recommended Textbooks
1. Kieso, D.E., Weygandt, J.J., Warfield, T.D. (2020). Intermediate Accounting: IFRS Edition.
NY: John Wiley & Sons, Inc.
2. Spiceland, D., Nelson, M., Thomas, T., (2020), Intermediate Accounting. USA: McGraw Hill
Education

1. Stice, J. D., Stice, E. K.,&Skousen, K. F. (2004). Intermediate Accounting. South-Western
College Pub
2. Beechy, T.H., Conrod, J.E., Farrell, E. (2019). Intermediate Accounting. Canada: McGraw-
Hili Ryerson
3. Stice, K. S., Stice, J.D. (2014), Intermediate Accounting, Cengage Learning
IFA Course Mapping

PrO1 5 PO1 1 CLO1 1, 3, 4, 5
PrO2 1, 4 PO2 1 CLO2 6, 8, 10, 12, 13, 15, 20, 25, 29, 30
PrO3 2 PO3 3, 4, 5 CLO3 11, 17, 18, 19, 20, 21, 22, 23, 24, 25, 27
PrO4 - PO4 2, 3, 4, 5, 6 CLO4 30, 31, 32
PrO5 3, 5 PO5 6 CLO5 33, 34
PrO6 6 PO6 - CLO6 7, 9, 11, 15, 19, 25, 28, 29, 31, 32, 34
PrO7 6,7 PO7 7 CLO7 1, 2, 3, 5, 10, 14, 16, 24, 31
Learning Outcomes
P a g e 44 | 158
IFA Content Mapping
A1. Financial Reporting A2. Conceptual framework

and Accounting Standards and Ethical issues
B1. Set of financial statements [IAS 1]
Statement of Financial Position
Statement of Profit or Loss and

Other Comprehensive Income
Statement of Changes in Equity

B3. Reporting Financial
B4. Other B2. Cash Flow Statement[IAS 7] Performance and Related
Reporting[IAS 10, Information[IAS 8, IAS 24,
IAS 37] Presentation, notes and disclosure IAS 33, IFRS 5, IFRS 8]
to the financial statements
C1. Current Assets and Current Liabilities

C2. Inventories[IAS2] C6. Non-Current Liabilities
C3. Property, Plant and C7. Financial Instruments[IAS 32,

Equipment[IAS 16, IAS, 23, IAS 36] IAS 39, IFRS 7]
C4. Intangible assets[IAS 38]
C5. Leases[IFRS 16]
D1. Revenue Recognition[IFRS 15]

D2. Accounting for taxation[IAS 12]
P a g e 45 | 158
Course Title:
Advanced Financial Reporting (AFR)
Financial Accounting & Advanced Advanced Financial FR342 100

Corporate Reporting Level I Reporting (AFR)
[FACR]
Syllabus structure
A Financial reporting regulations and ethics 10%
B Group financial statements 45%
C Other financial reporting standards 25%
D Financial statements analysis and interpretation 10%
E Integrated reporting 10%
Course Description
Advanced Financial Reporting is the third course of the three courses designed for the Financial
Accounting and Corporate Reporting (FACR) pillar. Primarily focus of the course is the
preparation and reporting of financial statements in a group scenario for varied entities
accommodating ethical codes for a professional accountant and the relevant accounting
standards. This course also covers investments in joint arrangements, translating financial
statements, financial instruments, issues related to employee benefits and payments, fair value
measures, operating segments and interim reporting, and the concept of integrated reporting.
Learners will also be exposed to the analysis and interpretation of financial statements to
evaluate business performance. Contents of this course are subject to a high level of ambiguity,
complexity, and uncertainty.
Course Objectives
This course aims to enable candidates in applying technical knowledge, analytical techniques,
and professional skills to resolve financial reporting issues that arise in the context of the
preparation and evaluation of corporate reports. It is expected that the learners of the course
will use technical knowledge and professional judgment in identifying, explaining, and
evaluating alternatives in a global context. The commercial context and impact of
recommendations and ethical issues will also need to be considered in making such judgments.
With the successful completion of this module, candidates will be able to account for complex
transactions and issues for single entities and group scenarios in a variety of industries.
P a g e 46 | 158
On successful completion of this paper, the aspiring professional accountants shall be able to:
1. apply professional judgments in ethical dilemmas
2. build arguments for the financial reporting framework and accounting regulations
3. practice accounting in compliance with the relevant standards and regulations
4. report the financial status of a range of entities
5. prepare the financial statements of a group of entities
6. interpret financial statements for different stakeholders
7. understand the significance of going beyond traditional reporting practices
Detail Contents
Level of
Topics Weight
Required
A. Financial A1. Regulating U, AP  Need for regulation of 1. describe the role of 50%
reporting accounting and published accounts; different regulatory
regulations and financial  Varying regulatory agencies on financial
ethics (10%) reporting regimes over countries; reporting
 Potential elements in a 2. explain the need for
national regulatory an external audit
framework for published 3. illustrate the impact
accounts; of measurement
 Role and structure of the base on corporate
IASB reporting
 IASB’s Framework for
the Financial
Statements;
 Promulgation of an
IFRS;
 IFRSs and local
regulatory frameworks;
 External audit/auditor;
 Audit reports;
 measurement principles
and bases in corporate
reporting
A2. Code of R, AP  Ethical principles in 4. demonstrate the 50%

Ethics for reporting and assessing ethical practice in
Professional information; evaluating situations
Accountants  Sources of ethical codes with an ethical
for those involved in the dilemma
reporting or taxation 5. outline the
affairs of an requirements for
organization, including financial reporting
the external auditors;
P a g e 47 | 158
Level of
Topics Weight
Required
 Code of Ethics for in a group scenario

Professional Accountants
 Requirements for
consolidated financial
statements
B. Group B1. Investment U, AP,  Introduction of a group 6. identify the 60%

Financial in subsidiaries AN  Conditions to be a circumstances that
Statements subsidiary or an require consolidated
associate of another financial statements
(45%) 7. discuss the parent-
company
 Concept of control and subsidiary
consolidated financial relationship
statements; 8. analyze and account
 Underlying provisions of for intra-group
IAS 1, IAS 27, IFRS 3, transactions
IFRS 10 9. prepare consolidated
 pre-acquisition and post- financial statements
acquisition reserves.
 Intragroup transactions
 Groups with two or more
subsidiaries with direct
and indirect control
 Partial disposal
(Subsidiary status
remains after disposal,
the subsidiary becomes
an associate, subsidiary
becomes a general
investment)
 Consolidated statements
B2. Investment AP, E  Investment in associates 10. contrast different 20%

in other forms  Concept of significant forms of
influence investments
 Underlying provisions of 11. account investments
IAS 28, IFRS 11, IFRS 12 under the equity
 Investment in a joint method
arrangement
 Concept of joint control
 Accounting for joint
operations
 Accounting for joint
ventures-equity method
B3. Other issues U, AP  Underlying provisions of 12. describe the need for 20%
for group IAS 21, IAS 24, IAS 33 translating financial
P a g e 48 | 158
Level of
Topics Weight
Required
accounts  Translating financial statements

statements 13. identify disclosures
 Additional disclosure required for related
issues related to the parties and EPS
group accounts 14. compute EPS in a
 Disclosure requirements single entity and
for transactions between group scenario
related parties
 Group earnings per
share
C. Other C1. Fair Value U, AP, E  Underlying provisions of 15. evaluate and select 20%
Financial Measurement IFRS 13 appropriate
reporting  Definitions of ‘fair value’ valuation technique
standards measurement and ‘active under different
market’ contexts
(25%)
 ‘Fair value hierarchy
 Principles of highest and
best use, most
advantageous and
principal market
 Circumstances where an
entity may use a
valuation technique
C2. Financial U, AP  Underlying provisions of 16. illustrate the 20%

Instruments IAS 32, IAS 39, IFRS 7, requirements to
IFRS 9 account for financial
 Initial recognition and instruments
measurement
 Subsequent
measurement
 Derecognition
 Reclassification of
financial assets
 Derivative financial
instruments and simple
embedded derivatives
 Impairment
 Credit risk
credit-impaired financial
assets
C3. Employee U, AP  Underlying provisions of 17. explain different 20%

benefits and IAS 19, IAS 26, IFRS 2 forms of employee
 Types of Employee benefits
P a g e 49 | 158
Level of
Topics Weight
Required
payments Benefit 18. account share-based

 Post-Employment payments as per
Benefit Plans IFRS 2
 Asset Ceiling Disclosures
 Other Employee Benefits
 Share-based payments
 Types of Transaction
 Equity-Settled Share-
Based Payment
Transactions
 Cash-Settled Share-
based Payment
Transactions
 Disclosures
 Modifications,
Cancellations, and
Settlements
 Recent Developments
C4. Operating U, AP  Underlying provisions of 19. describe how to 20%

segments and IAS 34, IFRS 8 account for
interim  Form and content of operating segments
reporting interim financial 20. identify the forms
statements and components of
 Significant events and an interim report
transactions
 Identification of
operating segments and
reportable segments
 Recognition,
measurement, and
reconciliations
 Disclosures
C5. Other R, U  Scope, recognition, 21. recognize whether 20%

standards measurement, an entity qualifies as
presentation, and a first-time adopter
disclosure provisions of of IFRS
IAS 20, IAS 29, IAS 40, 22. understanding of
IAS 41, IFRS 1, IFRS 4, accounting
IFRS 6, IFRS 14 treatment for an
 First-time Adoption of investment property,
International Financial of insurance
Reporting Standards contracts, and in a
 Investment Property hyperinflationary
 Financial Reporting in economy
Hyperinflationary
Economies
P a g e 50 | 158
Level of
Topics Weight
Required
 Insurance Contracts
 Accounting regulations
for SMEs
D. Financial D1. Analysis U, AP,  Status over time and 23. describe the 40%
Statements AN across industries relationship of
analysis and  Profitability ratio different elements of
interpretation  Liquidity ratio the financial
 Asset management statements
(15%) 24. compute accounting
/efficiency ratio
 Debt management or ratios to evaluate a
gearing business status
 Du Pont analysis
D2. AN, E, C,  evaluate performance 25. evaluate entities 60%

Interpretation D and position financial status
 segmental analysis with 26. formulate a plan for
inter-firm and the strategic course
international of actions
comparisons taking
account of possible
aggressive or unusual
accounting policies and
pressures on ethical
behavior
 discuss the results of the
advantages and
limitations of the
analysis of financial
statements.
E. Integrated E1. <IR> U, C  Context of integrated 27. argue for the need 60%
reporting Framework reporting for a broader form of
 Role of IIRC reporting
(10%)
 Integrated thinking
 International <IR>
Framework
 Environmental, social,
and ethical factors on
performance
measurement
E2. Six Capitals U  Define six capitals 28. describe different 40%
 Explain six capitals capitals of an
 Measurement and integrated report
disclosure issues of framed by IIRC
financial capital,
P a g e 51 | 158
Level of
Topics Weight
Required
manufactured capital,
intellectual capital,
human capital, social
and relational capital,
and natural capital


Primary Textbook
ICMAB.(2021). ICMAB Learning Manual for Advanced Financial Accounting.Dhaka: ICMAB
1. Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2020). Intermediate Accounting: IFRS
Edition. USA: Wiley
2. Tan, P., &Lee, P. (2008). Advanced Financial Accounting: An IAS and IFRS Approach.
Singapore: McGraw-Hill Education
3. Tan, P., Lim, C. Y., &Kuah, E. W. (2017). Advanced Financial Accounting. McGraw-Hill

1. Larsen, E. J. (2006). Modern Advanced Accounting. USA: Richard D. Irwin, Inc.
2. Baker, R., Christensen, C., &Cottrell, D. (2010). Advanced Financial Accounting. McGraw-
Hill Education
3. IFAC. (2018). Handbook of the International Code of Ethics for Professional Accountants.
IESBA, IFAC
4. IIRC. (2013). TheInternational <IR> Framework. IIRC
AFR Course Mapping

PrO1 5 PO1 2 CLO1 2, 4, 27, 28
PrO2 1, 4 PO2 1 CLO2 1, 3, 5, 23, 26, 27
PrO3 2 PO3 4 CLO3 6, 9, 11, 13, 14, 15, 16, 18, 19, 20, 21, 22
PrO4 - PO4 3 CLO4 7, 10, 11, 14, 15, 16, 17, 19, 20, 21, 22
PrO5 3, 5 PO5 4, 5 CLO5 5, 6, 7, 8, 9, 12, 14
PrO6 6 PO6 6 CLO6 23, 24, 25, 26
PrO7 6, 7 PO7 1, 7 CLO7 3, 4, 26, 27, 28
Learning Outcomes
P a g e 52 | 158
AFR Content Mapping
A1. Regulating accounting

and financial reporting
A2. Code of Ethics for

Professional Accountants
Concern entity
B1. subsidiaries[IAS 1, B2. other forms[IAS 28,
Investment in
IAS 27, IFRS 3, IFRS 10] IFRS 11, IFRS 12]
B3. Other issues for

Consolidated group accounts[IAS
financial statements 21, IAS 24, IAS 33]
Financial statements Financial statements Financial statements
C1.Fair Value Measurement[IFRS 13]

C2.Financial Instruments[IAS 32, IAS 39, IFRS 7, IFRS 9]
C3.Employee benefits and payments [IAS 19, IAS 26, IFRS 2]
C4. Operating segments and interim reporting [IAS 34, IFRS 8]
C5. Other standards [IAS 20, IAS 29, IAS 40, IAS 41, IFRS 1,
IFRS 4, IFRS 6, IFRS 14]
D1. Analysis D2. Interpretation
E1.<IR> Framework E2.Six Capitals
--------0--------
P a g e 53 | 158
Information Technology and Business Analytics Pillar
Information Technology and Business Analytics (ITBA) pillar aims to provide learners a clear
understanding of the use of information technology (IT) and digital transformation with the
mathematical and statistical tools for different contexts. IT as the most dynamic environmental
factor became an integral part of any undertakings. Similarly, the myriad implications of the
contemporary wave of digital transformation are irrefutable. Conversely, mathematics, and
statistics provide the foundation to construct best fit models for business solutions. Knowledge
from the ITBA pillar will ensure an aspiring professional accountant to work in a digital
environment with adequate data analytical skills. There are two courses under the ITBA pillar,
‘Business Quantitative Analysis’ (BQA, in foundation level) and ‘Information & Communication
Technology’ (ICT, in intermediate level). The first course under the pillar covers, basics
mathematical theories, functions, the use of different forms of mathematical analysis in the
context of continuous change, and mathematics in financial management. The final course of
the pillar, on the other hand, covers information technology, data analysis, and decision
support, IT Project Management, which are becoming more strongly intertwined and are
essential components of the modern enterprise. This course ensures the use of computer
systems in managing data and operations, analyze data, and support operational decision-
making in contemporary business settings. The ITBA pillar is training for the aspiring
professional accountants in the technology and fundamental skills needed for the converging
fields of IT and business analytics.
Pillar Objectives
On successful completion of the ITBA pillar, the aspiring professional accountants will be able
to:
1. understand and apply the basic mathematical theories and functions to generate solutions
2. formulate forecasting and performance optimization models
3. carryout fundamentals of data analytics using statistical tests and MS Excel
4. understand the wave of digital transformation and its impact on different undertakings
5. explain the implications and development of an information system in business
6. understand the cultural change in business through the business process change
7. understand the ethical, social, and political aspects of digital transformation
P a g e 54 | 158
Title of the Course:
Information & Communication Technology (ICT)
Knowledge Pillar Level Name of Course Course Code Total Marks

Information Intermediate Information & TA223 50
Technology and Level I Communication
Business Analytics Technologies(ICT)
(ITBA)
Syllabus Structure
A Networked Enterprise & the Digital Transformation 10%
B Business Information Systems 20%
C Planning, Design,& Implementations of Information Systems 30%
D Real-world Business Information System 20%
E Disruptive Technology 20%
Course Description
The Course is designed to provide a conceptual framework of Information Technologies that are
directly associated with and affecting the career path of a professional accountant. It is assumed
that the financial leader, e.g., the CMAs, should have basic computing and networking
knowledge. Thus, the course emphasizes the Business Information System. This subject is
designed to enable learners in providing knowledge of information technology with IT
Infrastructure of Hardware and software, system development process and project, Internet,
Cyber Security, Social collaboration and link with the enterprise and its application in day-to-
day activities. Finally, the emphasis is given on disruptive technologies that are constantly
changing our personal, business, or professional life. These will enable the aspiring professional
accountant to keep pace with the trending IT world and lead the business from the front.
Course Objectives
This course aims to provide aspiring professional accountants a clear understanding of the
digital transformation of business activities. The transformation wave necessitates a business
leader to understand the concept of a business information system, it's planning, design, and
implementation process to gain optimum benefits in a digital environment and using
information technology. This course also ensures learners to understand the alignment of
business information systems with the strategies and with the social collaboration converging
necessary ethical and security considerations.
P a g e 55 | 158
1. demonstrate the effective use of information technology in business
2. identify and analyze user needs in implementing computing-based systems
3. understand and apply course of action appropriate for an ethical computing professional
4. illustrate the organization of information technology in day-to-day business undertakings
5. prepare a proposal of an IT project for an identified need within a specific scope
6. understand the effect of contemporary changes in the field of computer science on business
7. align business information systems with the organizational strategic goals
Detail Contents
Level Probable
Learning Outcomes of
Part Topic of Sub Topics
the topic weight
Study
A. Networked A1. Information R, U,  Information system (IS) 1. describe how an 70%

Enterprise & the Systems in AP  IS in business information system
Digital Global Business transformation works
Transformation  Complementary assets 2. understand the
 IS and business processes strategic
(10%) implications of IT
 IT and Business Processes
 Role of IS on the business
environment
 Role of IT in the systems
3. explain how IT is
for collaboration and
shaping business
social business
strategies
 Collaborative Culture and
Business Processes
 Requirements for a
successful IS
 Impact of IS on
organizations
 Challenges of strategic IS
A2. Ethical and U, C  Ethical, social, and 4. build arguments in 30%

Social Issues in political issues of an IS designing an
Information  Concerns for individual information system
Systems privacy and intellectual focusing on the
property ethical, social, and
 Effects of haws political aspects
information systems
B. Business B1. Transaction R, U  Electronic & Mobile 5. understand the 40%

Information processing and Commerce present trends and
Systems IT  E-Commerce and M- technologies that
infrastructure Commerce. are being used in
(20%) day-to-day trade
 Transaction Processing
Activities, Control and
P a g e 56 | 158
Level Probable
the topic weight
Study
Management Issues practice

 IT infrastructure
 Trends in computer
hardware & software
platforms
 Challenges of managing
IT infrastructure and
management solutions
 Principal components of
the telecommunication
network and key
networking technologies
 Types of networks
 Internet Technology
 Wireless network,
communication, and
Internet access
B2. U, AP,  File organization concepts 6. contrast different 60%

Foundations of E  Database management concepts of file
Business systems (DBMS) organization
Intelligence:  Relational Database 7. describe steps in
Database and Management System designing a
Information (RDBMS) database
Management  Non-relational databases 8. recognize the
 Designing Database importance of
information or
 Information policy, data
cybersecurity
administration, and data
quality assurance
 Vulnerability of
information systems
 Business value of security
and control
 Organizational framework
for security and control
 IS Control, Risk
Assessment, Security
Policy, DR Planning, and
Business Continuity
Planning
 Auditing Information
Systems.
 Tools and technologies for
P a g e 57 | 158
Level Probable
the topic weight
Study
safeguarding information
resources
C. Planning, C1. Information R, U  IS Planning: short-and 9. outline the 30%

Design, & Systems long-range technology requirements of
Implementations Planning Issues planning, short/long-range
of Information  Data and information technology
Systems management issues planning
 IS Economics 10. sketch a strategic
(30%) plan for the
 IS HR Planning
 Developing an IS strategic information
plan systems
C2. Information U, AP  Overview of Systems 11. describe the phases 30%

Systems Development in the systems
Development  Phases of SDLC development life
 SDLC Models cycle
 Factors affecting Systems
Development Success,
Quality & Standards
 Use of Project
Management, CASE,
OOSD
 Systems Investigation,
 System Analysis
C3. Systems U, E  Systems Design, 12. actively participate 40%

Design,  Systems Implementation and lead the IT
Implementation  Systems Operation and department to
, Maintenance Maintenance design the custom-
and Review  Systems Review made IS or procure
 Application of MIS in a standardized
Business solution
D. Real-world D1. Enterprise U, AP  Introduction and 13. understand the 60%

Business Resource definition of Enterprise generic
Information Planning Resource Planning (ERP) information
System  Core Modules of an ERP system, i.e., ERP.
System 14. discuss the
(20%) challenges in
 Role of Cost &
Management Accountants implementing
in implementing practical theoretical Cost
real-life manufacturing and Management
ERP Accounting
 Challenges of concepts by a real-
implementing world
P a g e 58 | 158
Level Probable
the topic weight
Study
manufacturing ERP in manufacturing

large Bangladeshi ERP.
organizations
D2. Managing U, AP,  Project management (PM) 15. illustrate the 40%
IT Project C  PM in developing importance of
information systems project
 Methods for selecting and management in the
evaluating IS projects and process of systems
 Aligning IS projects with development
the firm's business goals 16. find the way to
 Business value of IS align IS with
organizational goal
 Risk factors in IS projects
17. identify and
manage risk
associated with IS
projects
E. Disruptive E1. Blockchain R, U,  Introduction to 18. understand how 50%

Technology and FinTech AP Blockchain. disruptive
 Types of Blockchain technology is
(20%) shaping the new
Technologies, Bitcoin,
Ethereum, Hyperledger forms of business
 Blockchain and wave of undertakings
change 19. describe how the
 Blockchain Ecosystem, banking sector is
Blockchain Exchanges, rapidly changing
Blockchain Miners, the way it deals
Blockchain Applications with its customers
 Introduction to Financial and the way it
Technology (Fintech) makes transaction
with its
 Current Trends in
stakeholders
Financial Technology
 The future of Fintech and
the Banking Sector
 Fintech Applications
E2. Fourth R, U  Introduction to the Fourth 20.understand the 50%

Industrial Industrial revolution. latest
Revolution and  Impact of the Fourth developments of
related issues Industrial Revolution on computer science
finance and accounts and its application
 Opportunities & in business
Challenges of the Fourth
Industrial Revolution
 Introduction to Data
Science Data Science for
P a g e 59 | 158
Level Probable
the topic weight
Study
the Cost & Management

Accountants
 Big Data.
 Internet of Things (IoT)
 Machine Learning


Primary Textbook
ICMAB Learning Manual for Information Technology and Business Analytics. ICMAB
1. Laudon, K. C., &Laudon, J. P. (2020). Management Information Systems: Managing the
Digital Firm, Global Edition. UK: Pearson
2. Brien, J. O. (2002). Management Information Systems: Managing Information
Technology in the E-Business Enterprise. Boston: McGraw-Hill/Irwin

1. Shokeen, S., Singh, P., & Mann, S. (2018). Information System Management. I K
International Publishing House
2. Tapscot, D., & Tapscot, A. (2017). Blockchain Revolution. Brilliance Audio
3. Furlonger, D., & Uzureau, C. (2019). The Real Business of Blockchain: How Leaders Can
Create Value in a New Digital Age. Harvard Business Review Press
ICT Course Mapping

PrO1 5 PO1 - CLO1 1, 3, 5, 13, 14
PrO2 2,5 PO2 - CLO2 2, 4, 10, 11, 13, 14
PrO3 7 PO3 - CLO3 4, 8, 12
PrO4 3,4, 5 PO4 1, 2 CLO4 5, 6, 7, 8, 13
PrO5 - PO5 4, 5 CLO5 4, 7, 9, 12, 15, 16, 17
PrO6 5, 6, 7 PO6 6, 7 CLO6 4, 8, 18, 19, 20
PrO7 2 PO7 3 CLO7 3, 9, 10, 16, 18, 20
Learning Outcomes
P a g e 60 | 158
Course Title:
Business Quantitative Analysis (BQA)
Information Technology Foundation Business Quantitative TA112 100

and Business Analytics level Analysis (BQA)
[ITBA]
Syllabus Structure
A Business Mathematics 50%
B Business Statistics 50%
Course Description
This course provides fundamentals of quantitative analysis under two broad categories,
Business Mathematics and Business Statistics. The course is designed to enable students with
reasonable quantitative aptitude in grasping the contents of other courses under the CMA
professional program. In the first part of the course, students will be oriented to the use of
logarithms, exponential functions, calculus, and trigonometric formulas in addition to the basic
concepts of mathematics. Subsequently, this course covers descriptive statistics, probability
concepts, probability distribution, hypotheses testing, regression and correlation, Index
numbers, and Forecasting - Time series.The amalgamation of these quantitative issues with
information technology is made in this course.
Course Objectives
The main objective of this course is to enable learners to use the knowledge of mathematics and
statistics in the decision-making process. It is expected that a successful learner of the course
will be able to express business problems in mathematical terms, solve the problem, and be able
to interpret the results. In the process, they will also be able to identify sources, types, and use of
data. This course will provide a foundation for the quantitative skills, logical reasoning, and
critical thinking ability expected from an aspiring professional accountant.

1. understand the basic mathematical theories and their application using MS Excel
spreadsheet
2. use set theory, exponential and logarithmic functions in solving critical business
problems
3. understand the use of trigonometry and calculus in solving industrial issues
P a g e 61 | 158
4. comprehend the use of mathematics in financial management
5. conduct scenario analysis using probability theory
6. develop basic forecasting and optimization models
7. draw conclusion about population characteristics based on sample data via hypothesis
testing
Detailed Contents
Level of
topics weight
required
A. Business A1. Basic R, U, AP  Introduction 1. demonstrate the 15%

Mathematics Mathematics  Mathematical operations and application of
brackets basic mathematics
 Different types of numbers in the computation
 Rounding, fractions, of values
percentage, and ratios 2. solve and present
 Constants, variables, and graphically the
functions relationship of
different variables
 Exponential numbers
3. demonstrate the
 Formulae
use of formulas in
 Solving equations
MS Excel
 Manipulating inequalities
spreadsheet
 Mathematical operations in
excel
 Accuracy and approximation
A2. Set R, AP,  Introduction 4. illustrate the 15%

Theory AN, D  Definition of sets and elements underlying
 Methods of expressing sets philosophy of set
 Types of sets theory
 Venn diagrams 5. apply set theory in
solving real-life
 Operations of sets
problems
 Number of elements of a finite
set
 Application of set theory to
solve business problems and
calculation of probability
A3. U, AP,  Exponential functions: 6. understand the 10%

Exponential AN, E exponent; positive integral implications of
exponent; zero, negative exponential and
and logarithmic
integral exponent; rules of
Logarithmic functions
exponent; fractional exponent
Functions 7. illustrate the use
 Logarithmic functions:
logarithm; formulae of of logarithm as an
logarithms; natural logarithm alternative to a
calculator and
P a g e 62 | 158
Level of
topics weight
required
and common logarithm; the computer.

scientific form of numbers; use
of a calculator
A4. U, AP,  Introduction 8. apply the concept 10%

Permutations D  Fundamental principles of of permutation
counting: multiplication rule; and combination
and in arranging
addition rule
Combinations objects
 Permutations: properties of
permutations; circular 9. describe the
permutation; permutations meaning and
with restrictions computational
 Combination: properties of techniques of
combinations circular
permutation and
permutation with
restriction.
A5. U, AP,  Introduction 10. apply the 15%

Trigonometry C, D  Measurement of angles Pythagorean
 Trigonometric functions Theorem
 Trigonometric ratios 11. determine the
 Relations between quadrants where
trigonometric functions sine, cosine, and
tangent are
 Signs of trigonometric
positive and
functions
negative
 Trigonometric functions of
standard angles.
A6. Calculus U, AP,  Introduction 12. understand the 15%

C, D derivatives of
 Differential calculus: rules of power,
differentiation; successive trigonometric,
differentiation; partial exponential,
differentiation; identification logarithmic
of maxima and minima; functions;
application of differential 13. apply calculus in
calculus; marginal approach to the optimization of
profit maximization revenue, costs, and
profit
 Integral calculus: anti-
derivative concept; rules of
integration; integration by
parts; definite integrals -
evaluating definite integrals,
properties, areas between a
function and the x-axis, finding
areas between curves;
P a g e 63 | 158
Level of
topics weight
required
application of integral calculus
A7. R, AP,  Interest and its computation 14. compute present 20%
Mathematics E, D  Power of compound growth and future values
of Finance  Present and future values: of cashflows
single payment, annuity 15. decide the
 Cost-benefit analysis: financial feasibility
discounted cash flow, NPV, of a project
IRR 16. demonstrate the
use of MS Excel
spreadsheet in
solving financial
problems
B. Business B1. U, AP,  Organize ungrouped data into 17. present data in 15%
Statistics Descriptive AN a frequency distribution tabular and
Statistics  Construct different types of graphical forms
graphs using statistical 18. understand and
software. interpret the
 Arrange ungrouped data into features of a
an array, and determine the distribution
mean, median, mode, 19. apply the
percentiles, and quartiles. appropriate data
 Measure of dispersions presentation
coefficient of variation. techniques using
 Skewness and kurtosis MS Excel for
descriptive
statistics.
B2. U, AP,  Linear regression analysis 20. identify and 20%

Regression AN, D  Determination of correlation interpret the best
and coefficient fit solution using
Correlation  The least-squares criterion regression analysis
21. use regression
analysis as a
forecasting
technique
22. demonstrate
correlation and
regression results
in MS Excel
B3. Basic U, AP,  Concept of probability 23. demonstrate the 10%

Probability AN  Rules of probability use of the addition
 Conditional probability and multiplication
P a g e 64 | 158
Level of
topics weight
required
 Solve problems using different rules of

rules probability.
B4. AP, AN,  Random variables 24. compute 10%

Probability D  Probability distributions probability from a
Distributions (binomial and normal) binomial and
 Use binomial and normal normal
distribution to calculate distribution
probabilities. 25. generate business
solution using a
probability
distribution
B5. AP, AN,  Introduction to hypothesis 26. explore the 15%

Hypothesis D testing relationship
testing  State null and alternative between variables
hypothesis in an experimental
 Tests of statistical hypotheses setting
27. apply hypothesis
testing in quality
management
B6. Index  Basic terminology 28. demonstrate the 10%

numbers  Combining series of index computation and
numbers use of index
 Composite index numbers number
 Weighted index numbers 29. construct and
 Retail price index for apply the relative
Bangladesh price index
B7.  Components of time series 30. develop and 20%

Forecasting -  Finding the trend interpret a
Time series  Finding seasonal variations forecasting model
 Forecasting generated from a
 Limitation of forecasting time series
models analysis
31. demonstrate the
use of MS Excel to
develop time-
series forecasts.

P a g e 65 | 158
Primary Textbook
ICMAB Learning Manual for Business Quantitative Analysis. ICMAB
1. Kappor, V. K., & Sancheti, D. C. (2002). Business Mathematics. Sultan Chand & Sons
2. Gupta, S. P., & Gupta M. P. (2019). Business Statistics. Sultan Chand & Sons

1. Agarwal, D. R. (2005). Business Mathematics. Vrinda Publications (P) Ltd
2. Zameeruddin, Q., Khanna, V. K., & Bhambri, S. K. (2009). Business Mathematics. Vikas
Publishing House Pvt Limited
3. Levin, R. I., & Rubin, D. S. (2011). Statistics for Management. Prentice-Hall
4. Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2014).
Essentials of Statistics for Business and Economics. South-Western College Pub
BQA Course Mapping

PrO1 2 PO1 1, 2, 3 CLO1 1, 2, 3, 8, 9, 10, 16, 17, 18, 19, 22, 28, 29, 31
PrO2 1 PO2 5, 6 CLO2 4, 5, 6, 7
PrO3 2,3,7 PO3 1, 4, 7 CLO3 10, 11, 12, 13,
PrO4 4,5,7 PO4 - CLO4 14, 15, 16,
PrO5 1,2,3 PO5 - CLO5 16, 23, 24, 25,
PrO6 - PO6 - CLO6 13, 16, 20, 21, 30, 31
PrO7 2,7 PO7 - CLO7 16, 19, 20, 21, 26, 27, 30, 31
Learning Outcomes
P a g e 66 | 158
------0------
Economics & Finance Pillar
The Economics & Finance (EFIN) knowledge pillar aims to equip aspiring professional
accountants with a precise understanding of different financial management techniques, the
micro/macroeconomic aspects, and the financial market of Bangladesh to manage resources,
and formulating financial and operational strategies for an organization. This pillar is designed
to enable the aspiring candidates to analyze firm-specific and country-level economic factors
that can have a substantial impact on the operation and strategy of a business. This pillar also
focuses on the process and techniques of international business which will enable aspiring
professional accountants to analyze, evaluate, and formulate appropriate business strategies to
enter into and compete in the international markets. Furthermore, the EFIN pillar covers the
areas of financial management, financial markets, and financial strategy which are expected to
make the aspiring professional accountants competent to evaluate and select the best available
alternative sources of financing and investments in the domestic and international markets. This
pillar comprises three courses, namely Business Economics & International Business (EIB),
Financial Management (FIM), and Corporate Finance Strategy & Financial Market (FSM). The
EIB course covers the core issues of firm-level and national level economic factors that will
enable aspiring professional accountants to address the impact of internal and external
environmental and economic factors on business decisions. Besides, several issues relating to
international business including import and export procedures, entry strategy and strategic
alliances, and international trade and investment policies are covered to enable aspiring
professional accountants to perform both in the local and multinational entities.
The FIM course covers the key issues of financial management including the techniques of
capital budgeting, working capital management, trade-off between risks and return, and optimal
capital structure decisions which will make the aspiring candidates competent to perform the
role of a finance manager and/or chief financial officer. Finally, at the advanced level, the FSM
course offers a deeper understanding to the aspiring professional accountants on the more
complex issues concerning the financial strategy including mergers, acquisitions and business
valuations, changes in capital structure, and risk management and portfolio management
strategies. A precise understanding of these issues is expected to enhance the capability of
aspiring professional accountants to enhance the firm’s value.
Pillar Objectives
On successful completion of the EFIN pillar, the aspiring professional accountants should be
able to:
1. understand the micro and macroeconomics factors that can affect the operating
environments of a business.
2. assess the opportunity to expand internationally and the process of conducting international
transactions.
3. analyze and evaluate the trade-off between risks and return of investment opportunities.
P a g e 67 | 158
4. identify, evaluate, and select the best available alternative investment projects and financing
sources.
5. understand the nature of financial markets and formulate appropriate strategies to perform
better in such markets.
6. Analyze the components of financial statements to identify/evaluate the ability of an entity
to perform in the short- and long-term periods.
7. formulate appropriate financial management and operational strategy understanding the
use and role of information technology in the process.
P a g e 68 | 158
Course Title:
Business Economics & International Business (EIB)
Economics & Foundation Business Economics & EF113 100

Finance Level International Business
(EBI)
[EFIN]
Syllabus Structure
Segment Topics Weight
A. 1. Introduction to Business Economics 5%
Business 2. Microeconomics 25%

Economics 3. Macroeconomics 15%
(50%) 4. Bangladesh Economy 5%
1. Introduction and Strategy 10%

B. International
2. International Trade Policy & FDI 10%
Business
3. Payment & Finance Mechanism 20%
(50%)
4. Export & Import in Bangladesh perspective 10%
Course Description
This is the first course of the pillar, Economics & Finance. This course presents the
fundamentals of different economic and international business concepts. The first part of the
course, Business Economics, consists of microeconomics, macroeconomics and Bangladesh
economy which portray the economic environment of business and different aspects of micro,
macroeconomic forces and Bangladesh economic conditions that influence the business
decision. Similarly, an understanding of international business is essential for aspiring
professional accountants in today's interdependent global world. This course provides an
overview of international business explaining how firms engage in conducting business crossing
the local boundary, the key characteristics of the foreign environment that need to be taken into
account, the typical challenges of daily operations in an MNC, and the main strategic level
decisions which a multinational corporation (MNC) must make and analyze.
P a g e 69 | 158
Course Objectives
This course is designed to provide students with an understanding of the basic concepts &
theories of economics and to show how competition, the behavior of markets, and government
economic policies can influence an organization’s decisions regarding price determination and
profit maximization. Besides, this course will provide students with the knowledge, skills, and
abilities to understand the global economic, political, cultural, and social environment within
which the firms operate. It is expected that the knowledge of the course will enable an aspiring
professional accountant to formulate and execute strategies, plans, and tactics to succeed in
local and international business ventures.

1. understand the economic environment in which an organization operates.
2. explain the fundamental concepts of economics and international business.
3. describe and apply different theories of economics and international trade.
4. comment on different macroeconomic aspects of Bangladesh.
5. evaluate and comment on international trade policies and procedures.
6. understand the regulatory requirements and international trade finance, import, and export
mechanisms.
7. formulate strategies considering ethics, the local and global business environment.
Detail Contents
Level of
Learning outcomes Probable
of Topics (TLOs) Weight
Required
A. Business A1. R, U  Basic concepts:Definitions 1. Understand the 10%

Economics Introduction and Relevance; Positive and fundamental
(50%) to Business concepts of
Normative Economics;
Economics economics
Scarcity; Opportunity Cost;
2. Understand the
Production Possibilities
primary features
Frontier; of the world’s
 Schools of Economic economic
Thoughts: Classical, Neo- systems
Classical, Keynesian, 3. Describe the
Marxist; implications of
 Participating in the Dynamic ethical decisions
Business Environment in the global
market place
 Understanding Evolving
Economic Systems and
Competition
 Making Ethical Decisions
and Managing a Socially
Responsible Business
P a g e 70 | 158
Level of
Required
 Competing in the Global

Marketplace
A2. U, AP,  Demand, Supply and 4. Conduct the basic 50%

Microecono AN, D Equilibrium Analysis: The demand, supply,
mics and equilibrium
Demand Curve; The Supply
analysis
Curve; Competitive market;
5. Link the
Market Equilibrium;
relationship
equilibrium price and between
quantity; supply shortage consumer
and price movement; surplus with
Consumer Surplus; Producer demand curve
Surplus; Total Surplus and the producer
 Market Regulation: surplus with the
Government intervention in supply curve
6. Describe forms of
markets – price and quantity
government
control; Price Ceiling; Price
intervention in
Floor; Quota and Tax; the market
Change in Consumer 7. Explain the
Surplus and Producer implication of
Surplus after Regulation. market
 Elasticity: Price Elasticity of intervention
Demand; Income Elasticity 8. Explain the
of Demand; Price Elasticity importance and
effects of various
of Supply; Cross-price
types of elasticity
elasticity; factors influence
9. Develop the
the size of various elasticity
relationship
 Theory of Production and between the
Cost: The production quantity of inputs
Function; types of costs; and outputs
Marginal Cost; Average Cost; 10. Analyze different
Short-Run Vs Long-Run costs and
Costs; Cost Curves; production
Economic of Scale functions
11. Analyze market
 Market Structure and
structures and its
Equilibrium Price and
impact on profit
Output Levels: Perfectly
Competitive Market and
Imperfectly Competitive
Markets (Monopoly,
Oligopoly and Monopolistic
Markets); Determination of
Equilibrium Price and
Output in Different Markets;
Price Discrimination and
P a g e 71 | 158
Level of
Required
Distortions; Anti-Trust
Laws.
A3. R, U, AN,  Definition of 12. Understand and 30%

Macroecono E, D Macroeconomics; determine
mics different
 Basic Concepts and Data;
economic
 Importance and Relevance
measures
of Macro-Economics for
13. Understand the
Business Students economic health
 Gross Domestic Product of a nation
(GDP), Gross National 14. Understand tools
Product (GNP), Net National government use
Product (NNP) & National to achieve
Income (NI) macroeconomic
 The Monetary System goals
 Inflation: factors resulting in
inflation, measurement
 Unemployment and the
Labor Market
A4. R, U, E  Economic Policies in 15. Comment on the 10%

Bangladesh Bangladesh growth and
Economy structure of the
 Bangladesh’s current
Bangladesh
economic indicators
economy
 Trend of Prices of consumer
goods and other goods in
Bangladesh
 Growth, Structure &
Performance of Bangladesh
Economy
 Current Economic Affairs
B. B1. R, U  Definition of International 16. Understand the 20%

International Introduction Business implications of
Business and Strategy different trade
 International trade theories
(50%) theories
 Current trends and historical
17. Explain how
patterns of international
business
trade practices are
 Globalization in World influenced by the
Trade and World Economy international
 International strategic business
planning environment
 Entry Strategy and Strategic 18. Develop and
Alliances implement
strategies to
P a g e 72 | 158
Level of
Required
 Assessing competitive negotiate

dynamics and advantages, effectively within
various cultural
disadvantages in
& economic
international business
environments
 Global dynamics, political 19. Recommend
and country risks in strategies to
international business support
 Ethics, corporate sustainability,
sustainability, and corporate CSR, and ethics
social responsibility in an
organization's
integrative trade
initiatives.
B2. R, U, AP,  Framework of international 20. describe the 20%

Internationa AN, E, D trade policy factors and their
l Trade implications for
 Trade policy tools
policy & viable global
 Development and current
Foreign trade and
role of the WTO
Direct investment
Investment  Trade policy: tariffs, trade environment
wars, trade agreements, and 21. Evaluate
the WTO different trade-
 Economic Integration with related policies
global and regional trade and their effect
bodies on national
 The International trade policies
22. Comment on
policy and Monetary System
different political
 Definition and methods of
views on FDI
Foreign direct investment 23. Identify ways of
 Benefits of Foreign Direct attracting and
Investment process of
 Disadvantages of FDI bringing FDI in
 Types and Examples of Bangladesh
Foreign Direct Investment
 What to consider investing
in Bangladesh
B3. Payment R, U, AP,  Mode of payment: Various 24. Identify and 40%
and Finance AN, E, D payment methods in explain the
Mechanism implications of
international trade; Risks
different
issues in international trade
payment modes
payment; Identifying frauds
in international
in international payments; trade
Various risks and mitigating 25. Understand
P a g e 73 | 158
Level of
Required
procedures in the different forms

international secured and procedures
of payment by
payment mechanism
L/C
 Documentary credits (DC):
26. Negotiate
What is documentary credit; interest rates,
Types of DC; deferred
Documentations of DC; payment, loan,
Rules and procedures etc. with local
governing DC; Settlement and intermediary
procedure and retirement of banks
DC; Uniform Customs and
Practice for Documentary
Credits (UCPDC);
International Commercial
Terms (Incoterms)
 Trade finance mechanism:
Financing arrange through
the export country – ECA,
Export credit agency, buyer’s
credit; Financing through
Letter of Credit; Usance
mechanism and
international factoring;
Local Banks import
financing
B4. Export & U, AP, E Export – Procedure and 27. Understand the 20%
Import in regulation: Export from requirements to
Bangladesh import/export
Bangladesh; Procedures to
in/from
export; Regulations and
Bangladesh
guidelines to export; Export
28. Understand the
tariffs duty drawback import/export
procedures; Export incentives process of
and process of realization Bangladesh
Import – Procedure and

regulation: Import to
Bangladesh; Procedures of
import; Regulations and
guidelines of import; Import
tariffs and input credit facility;
Various import restrictions

P a g e 74 | 158
Primary Textbooks
1. ICMAB. (2021). ICMAB Learning Manual for Business Economics. Dhaka: ICMAB
2. ICMAB. (2021). ICMAB Learning Manual for International Business. Dhaka: ICMAB
1. Gitman, L., & McDaniel, C. (2004). The Future of Business. Thomson.
2. Samuelson, P. A., & Nordhaus, W. D. (2009). Economics. McGraw-Hill/Irwin.
3. Wild, J. J., & Wild, K. L. (2018). International Business: The Challenges of Globalization
(What's New in Management). Pearson.
4. Griffin, R.W, & Pustay, M. W. (2014). International Business: a managerial perspective.
Pearson.

1. Krugman, P., & Wells, R. (2009). Microeconomics. NY.: Worth Publishers.
2. Dornbusch, R., Fischer, S., & Startz, R. (2017). Macroeconomics. McGraw-Hill/Irwin.
3. Blanchard, O. (2016). Macroeconomics. Pearson.
4. Hill, C. (2016). International Business: Competing in the global market place. McGraw-Hill
Education.
5. Daniels, J. D., Radebaugh, L. H., & Sullivan, D. P. (2003). International Business,
Environment and operation. Pearson.
EIB Course Mapping

PrO1 1 PO1 1, 2, 3, 4 CLO1 1, 6, 7, 17,
PrO2 1, 2 PO2 2, 3, 5, 6, 7 CLO2 2, 4, 5, 9, 24, 25, 26
PrO3 - PO3 - CLO3 4, 6, 10, 16,
PrO4 7 PO4 - CLO4 12, 13, 14, 15
PrO5 7 PO5 - CLO5 20, 21, 22, 23
PrO6 1, 2, 7 PO6 - CLO6 22, 25, 27, 28
PrO7 7 PO7 7 CLO7 2, 3, 11, 18, 19, 22
Learning Outcomes
P a g e 75 | 158
Course Title:
Financial Management (FIM)
Economics & Finance Intermediate Financial EF232 100

[EFIN] Level II Management (FIM)
Syllabus Structure

A Foundation of Finance 20%
B Financial Analysis 10%
C Investment Decisions 20%
D Financing Decisions 25%
E Dividend Decision 10%
F Working Capital Management 10%
G International Financial Management 5%
Course Description
This course introduces aspiring professional accountants to different financial management
techniques and explains how managers use these techniques in a firm to achieve its objective of
value maximization of invested assets. It covers theories, concepts, assumptions, and mechanics
underlying financial decisions, viz., investment, financing, dividend, and working capital
management. The contents have been arranged in a way to develop the conceptual and
analytical ability of the aspiring professional accountants and various financial techniques have
been incorporated to take appropriate finance and investment decision to achieve organization’s
goal. Apart from fundamental issues, analysis of contemporary financial matters has been given
adequate consideration to enable students to develop their skills in formulating suitable policy
framework for the entity and fit them to meet the demand of the day.
Course Objectives
This course aims to develop the knowledge and skills of aspiring professional accountants about
different functions of financial management so that they can perform their role effectively in
making various financial management decisions.

Upon successful completion of the course, the aspiring professional accountants should be able
to:
P a g e 76 | 158
1. Understand the fundamental concepts of financial management in an organization.
2. Analyze financial statements to measure the financial performances of an organizations
3. Understand and apply valuation techniques for various securities.
4. Apply appropriate investment appraisal techniques for making investment decisions.
5. Identify and assess capital requirements of businesses and financing options.
6. Apply different techniques for working capital management.
7. Identify, evaluate, and manage different financial risks of an organization.
Detail Contents
Level of
Learning outcomes
Parts Topics Study Subtopics Weight
of Topics (TLOs)
Required
A: A1. R, U  Basic Concept of Finance 1. Describe the 5%

Foundation Introduction and Financial concept of
of Finance to Financial Management financial
Management  Major financial decisions management, and
(20%) its key functions.
 Role of financial
2. Understand the
manager
roles of different
 Goal of a Firm: Profit functions of
maximization vs. wealth financial
maximization management for
 Agency Problems & achieving the goal
control of corporation of a firm.
 Corporate Governance
 Markets and Institutions
 Types of Market
A2. Time AP, AN,  The role of Time value in 3. Understand the 35%
Value of E, D Finance concept of the
Money  Present and future value time value of
of single amounts, present money and its
and future value of implications
annuities, mixed streams, 4. Prepare
compounding interest Amortizing
more frequently than schedule.
annuity, present and
future value of uneven
cash flow stream
 Loan amortization
 Special applications of
time value
A3. Risk & AP, AN,  Definition and Measurement 5. Understand risk, 30%
Return E, D of risk and return of return and
investors explain their
 Measure Risk relationship.
P a g e 77 | 158
 Using Probability
Distributions to measure
Expected Return and
Standard Deviation
 Coefficient of Variation
 Attitudes Toward Risk.
 The Capital Asset Pricing
Model (CAPM): a Risk &
Return Model.
A4. Valuation AP, AN,  Different Types of Bonds 6. Understand bond 30%
of Securities E, D and the concept of Bond valuation
Valuation techniques for
 Bond Valuation: Perpetual various types of
Bonds, Bonds with finite bonds.
maturity zero-coupon 7. Understand stock
bonds valuation
 Determination of the techniques for
duration of Bonds various types of
 Determinants of Bond stock.
Yields: Yield to Maturity
(YTM)
 Debt Vs Equity
 Preferred Stock Vs
Common Stock
 The concept of
preferred and common
stock
 Characteristics,
advantage and
disadvantage of
preferred stock and
common stock
 Classification of
common stock
 Differentiate among
bond, preferred stock
and common stock
 Valuation of Preferred
Stock
 Valuation of Common
Stock using the
different model
 Decision making and
common stock value
B. Financial B1. Financial AP, AN,  Financial Statements 8. Calculation and 100%
Analysis Statement E, D  Different tools and interpretation of
(10%) Analysis techniques of analysis of different types of
P a g e 78 | 158
Financial Statements ratios
 Ratio analysis: Different 9. Use trend
types of Ratios; Income analysis,
Statement and Balance Sheet common-size
Ratios; Market ratios analysis, and
 Trend Analysis index analysis to
 Common-Size and Index gain additional
Analysis insights into a
firm’s
performance.
C. C1. Capital R, U, AP,  Nature and principles of 10. Understand 60%

Investment Budgeting AN, E, D capital budgeting Capital budgeting
Decisions  Cash flow estimates & and steps involved
Determination of relevant in this process.
(20%) 11. Calculate and
cash flows
 Evaluation techniques: apply different
Discounted cash flow capital budgeting
Techniques; Time-adjusted techniques.
techniques; Traditional 12. Recommend
techniques investment
 Capital Budgeting under decisions based
risks and uncertainty. on different
 Inflation and capital capital budgeting
budgeting decisions.
 Project selection under
capital rationing
 Dependency and Mutually
Exclusive projects
 Ranking Problems
 Multiple IRR and No IRR
problem
 Modified Internal Rates of
Return (MIRR)
 Common Capital budgeting
conflicts
 Project Monitoring: Progress
Reviews and Post-
Completion Audits
 Concept of leasing
C2. Cost of U, AP,  Concept of cost of capital 13. Calculate the costs 40%
capital AN, D.  Components of cost of funds of different
 Component weights components of
 Explicit and implicit costs capital.
 Measurement of cost of 14. Calculate and
capital interpret the
weighted average
 Cost of debt, Cost of
cost of capital.
perpetual debt, Cost of
preference share, Cost of
equity, Cost of retained
P a g e 79 | 158
earnings
 Dividend approach
 Capital asset pricing model
approach
 Required return versus cost
of capital;
 Computation of over-all cost
of capital
 Marginal cost of capital; Risk
adjusted WACC
 Taxes, the Cost of Capital,
and the Value of the
Company
 Costs of Financial
Distress
D. Financing D1. U, AP,  Concept of leverage 15. Calculate and 15%

Decision Operating, AN, E, C,  Types of leverage interpret
Financial, D  Operating Leverage operating and
(25%) and financial leverage
 Degree of Operating
Combined Leverage (DOL). and their causes.
Leverage  Operating Break-Even 16. Determine the
Analysis. DOL and the appropriate
Break-Even Point • DOL and amount of
Business Risk financial leverage
for a firm.
 Financial Leverage: Degree
of Financial Leverage (DFL);
Financial Break-Even
analysis; Indifference
Analysis; DFL and Financial
Risk
 Total Leverage: Degree

of Total Leverage (DTL)
and Total Firm Risk
D2. Capital U, AP,  Capital Structure Concept 17. Understand the 30%
Structure AN, E, C, and Overview capital structure
D.  Capital structure and decision and
financial structure different theories
 Capital Structure theories of capital
 Net income approach structure.
 Modigliani-Miller (MM) 18. Determining the
approach optimal capital
 Traditional approach structure.
 Total Value Principles
 Presence of market
imperfections and incentive
issues
 The effect of Tax
P a g e 80 | 158
 Financial signaling
 Optimum capital
structure: Static Trade-
Off Theory
D3. Debt and U, AN, E,  Selecting Sources of equity 19. Understand the 30%
Equity D Finance use of different
Financing  Methods of flotation sources of
 Right issues equity
 Theoretical Ex-Right Price financing.
(TERP) and yield adjusted 20. Understand the
TERP
use of different
 Venture capital, angel
sources of debt
financing, crowdfunding
 Types of Debt Finance
financing
 Selecting appropriate debt
instruments
 Debt Finance: Security;
Covenants
 Interest rate risk and
refinancing risk exposures.
D5. Lease U, AP,  Concept of leasing 21. Evaluate and 25%

Financing AN, E, D  Financial evaluation of recommend the
leasing lease financing
 Buying Vs Leasing decision option.
 Economics of leasing
E. Dividend Dividend U, AP,  Passive versus Active 22. Understand the 100%
Decision Policy AN, E, D Dividend policies concept of
 Irrelevance of dividend: dividend decision.
(10%)
Modigliani and Miller (MM) 23. Recommend
Hypothesis and model optimum
 Relevance of dividends: dividend policy.
Walter’s Model and Gordan’s
Model
 Determinants of dividend
policies: Legal, contractual,
and internal constraints and
restrictions; Owner’s
considerations; Capital
market considerations
 Different practical
implications: Taxes;
Clientele effect; Bird in hand
argument; Signaling effect,
Desire for current income,
uncertainty resolution;
information content of
dividend; residual dividend
policy
P a g e 81 | 158
 Scrip dividends, stock splits
 Share Repurchases: Share
Repurchase Methods;
Financial Statement Effects
of Repurchases; Valuation
Equivalence of Cash
Dividends and Share
Repurchases: The Baseline;
The Dividend versus Share
Repurchase Decision
 Analysis of Dividend Safety
F. Working F1. Theory, U, D  Working Capital Concepts 24. Understand 100%

Capital Planning,  Classification of Working different concepts
Management and Capital of Working
Financing  Determinants of working Capital and its
(10%) management.
capital
 Operating cycle 25. Understand the
 Computation of working determinants of
capital optimum working
capital.
 Optimal Amount (or Level)
of Current Assets
 Financing Current Asset
Short-Term and Long-Term
Mix
 Hedging (Maturity
Matching) Approach
 Risk and Profitability
F2. Cash and U, AP  Motives for Holding Cash 26. Understand the
Marketable  Factors determining cash purpose of
Securities needs efficient cash
Management  Cash management strategies management
and techniques 27. Understand the
 Speeding Up Cash Receipts methods for
speeding up
 Slowing Down Cash Payouts collection
 Cash Balances to Maintain: controlling cash
Compensating Balances and disbursements.
Fees
 Investment in Marketable
Securities
 Baumol Model of Cash
Management
F3. U, AN, E  Credit and Collection 28. Understand how

Receivables D. Policies: Credit Standards; the level of
Management Credit Terms; Default Risk; investment in
Collection Policy and accounts
Procedures; Cost and receivable is
benefits affected by the
P a g e 82 | 158
 Analyzing the Credit firm's credit
Applicant: Sources of policies.
Information; Credit Analysis
 Payment Terms and
Settlement Discount
G.Internatio G1. Financial U, AN, D  Multinational Company 29. Understand the 100%
nal Financial Management and its environment risk associated
Management in  Sources of foreign with international
International currency, Foreign operations
(5%)
Operations Exchange Market, 30. Understand the
Exchange Rate Risk impact of an
management, and Foreign exchange rate
Investment Analysis. change
 Spot rates and forward
foreign exchange rates.
 International parity
conditions
 Transaction exposure;
accounting exposure;
 International Money and
Capital Markets
 Capital budgeting, capital
structure and working
capital management in an
international setting


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Financial Management. Dhaka: ICMAB
1. Khan, M.Y., & Jain, P.K (2018), Financial Management: Text, Problems, and Cases.
McGraw Hill India.
2. Ross, S. A., Westerfield, R., & Jordan, B. D. (2008). Fundamentals of Corporate Finance.
Tata McGraw-Hill Education.

1. Brigham, E. F., Gapenski, L. C., & Daves, P.R. (2003). Intermediate Financial Management.
Cengage Learning, Inc.
2. Pandey, I. M. (2015). Financial management. Vikas publishing house.
3. Van Horne, J. C., & Wachowicz, J. M. (2009). Fundamentals of Financial Management.
Prentice Hall.
4. Besley, S., & Brigham, E. (2011). Essentials of Managerial Finance. Cengage Learning.
5. Jones, C.P. (1993). Introduction to Financial Management. Richard d Irwin
P a g e 83 | 158
FIN Course Mapping

PrO1 1 PO1 1 CLO1 1, 2, 3, 4, 5, 13, 14, 22, 23,
PrO2 1 PO2 - CLO2 8, 9
PrO3 4, 6 PO3 1, 3, 4 CLO3 6, 7
PrO4 7 PO4 3, 4, 5 CLO4 10, 11, 12
PrO5 3, 7 PO5 - CLO5 15, 16, 17, 18, 19, 20, 21
PrO6 1, 7 PO6 2, 6, 4 CLO6 24, 25, 26, 27, 28
PrO7 7 PO7 5, 6, 7 CLO7 29, 30
Learning Outcomes
P a g e 84 | 158
Course Title :
Corporate Finance Strategy & Financial Market (FSM)
Economics & Advanced Corporate Finance Strategy EF343 100

Finance (EFIN) Level I & Financial Market (FSM)
Syllabus Structure
1. Introduction to Corporate Financial Strategy and Policy 5%

A.
2. Strategy for Long Term Finance 15%
Corporate
Finance 3. Business Valuation Strategy 10%
Strategy (50%)
4. Risk Management Strategy 5%
5. Strategy for Portfolio Management 15%
B. Financial 1. Overview of Financial Systems & Market 5%

Market
2. Money Markets 20%
(50%)
3. Capital Markets 25%
Course Description
The corporate financial strategy of a business should be compatible with the overall business
strategy for business success. This course examines finance issues from financial and strategic
management perspectives. It covers the analysis of corporate finance decisions at length
enabling the student to develop a suitable policy framework for the financial strategy of an
organization. Besides, several special areas of finance such as mergers and acquisitions, business
valuation, and international corporate finance, are given due consideration in the course.
Besides, this course also focuses on the financial systems of Bangladesh, the overview of the
financial market and instruments, the money market, and the capital market. Focus is also given
on the derivatives markets, the bond market, and how prices of bonds and interest rates are
determined.
P a g e 85 | 158
Course Objectives
This course aims to provide aspiring professional accountants the capacity to utilize different
Corporate Finance (CF) strategies, and techniques for value maximization of invested wealth.
This course will also provide students with a pragmatic view of Bangladesh's financial markets
and the capacity to evaluate institutions, instruments, and various participants involved in the
industry. It is expected that the successful completion of the course will equip students with the
technical skills required to efficiently manage the financial resources of an organization.

1. Understand the fundamental concepts of corporate financial strategy and the financial
market of Bangladesh
2. Understand the key factors that influence the crafting of a financial strategy
3. Outline and draft different financial strategies for value maximization
4. Understand the operations, instruments, and the participants of Bangladesh financial
market
5. Describe the implications of regulatory policies on the Bangladesh financial market
6. Evaluate and comment on the financial systems of Bangladesh
7. Align organizational operations and strategies with the prevailing financial systems
Detail Contents
Level of
Topics (TLOs) Weight
Required
A. Corporate A1. R, U  Strategic Objectives of an 1. Identify factors 10%

Finance Introducti Organization that influence
Strategy on to  Relationship between strategic financial
Corporate financial strategy and decisions
(50%) Financial 2. Understand the
business strategy
Strategy  Internal and External link between
and Policy environment of Strategy financial strategy
 Relationship between with business
Investment, Financing and strategy
Dividend Decisions 3. Identify and
 External influences on understand
financial strategic decisions different sources
 Stakeholder Conflicts of corporate
resources
 Interest of shareholders and
other stakeholders
 Corporate Finance
 Corporate Resources & their
sources
 Performance Evaluation for
Attainment of Organization’s
Financial Objectives
P a g e 86 | 158
Level of
Required
 Evaluation of Alternative
Financial Strategies for an
Organization
A2. U, AP,  Capital Structure: Modeling 4. Calculate the cost 30%

Strategy AN, E, D impact of capital structure - of capital for
for Long Calculation of cost of equity optimal capital
Term and weighted cost of capital to structure
Finance reflect changes in capital 5. discuss the impact
structure; Impact of choice of of alternative
capital structure on financial forms of long-
statements; Structuring term financing on
debt/equity profiles of business decisions
companies in a group 6. understand the
 Debt Financing: Types of debt implications of
instruments and criteria for different dividend
selecting them; Managing policy
interest, currency, and 7. formulate a
refinancing risks with target strategy for long
debt profile; Private term finance
placements and capital
market issuance of debt;
Features of debt covenants;
Tax consideration for debt
 Equity Finance: Methods of
flotation and implications for
management and
shareholders; Rights issues,
choice of discount rates and
impact on shareholders;
Calculation of theoretical ex-
rights price (TERP) and yield
adjusted TERP
 Dividend Policy & Share
Repurchase: Impact on
shareholder value and entity
value, financial statements,
and performance - Regular
Cash Dividends, Extra or
Special (Irregular) Dividends,
Liquidating Dividends, Stock
Dividends, Stock Splits; Share
Repurchases - Share
Repurchase Methods,
Financial Statement Effects of
Repurchases Valuation,
Equivalence of Cash
Dividends and Share
Repurchases: The Baseline,
The Dividend versus Share
P a g e 87 | 158
Level of
Required
Repurchase Decision;
Analysis of Dividend Safety
A3. U, AP,  Reasons for Merger and 8. Understand the 20%

Business AN, E, D Acquisition and divestments reasons and key
Valuation  Taxation implications factors of merger
Strategy  Process and implications of and acquisition
management buy-outs 9. Determine the
 Acquisition by private equity value of the firm
and venture capitalist after the
 Asset valuation acquisition
 Valuation of intangibles 10. Comment on
corporate
 Different methods of equity
restructuring
valuation
considering the
 Forms of consideration
relevant factors
 Terms of acquisition
 Target entity debt
 Methods of financing cash
offer and refinancing target
entity debt
 Bid negotiation
 Post-transaction value
incorporating the effect of
intended synergies
 Value of a firm after
acquisition;
 determination of the NPV of a
merger
 Corporate Restructuring
A4. Risk U, AP,  Identifying risk: Credit Risk, 11. explain and 10%
Managem AN, D Liquidity Risk, Operational measure different
ent Risk, Model Risk, Settlement forms of risks
Strategy (Herstatt) Risk, Regulatory 12. Manage risks
Risk, Legal/Contract Risk, using financial
Tax Risk, Accounting Risk, derivatives
Sovereign and Political Risks, 13. Outline risk
and Other Risks management
 Measuring risk: Measuring strategy for the
Market Risk: Value at Risk; organization
Stress Testing; Measuring
Credit Risk; Liquidity Risk;
Measuring Nonfinancial Risks
 Managing Risk: Managing
Market Risk; Managing Credit
Risk; Performance
Evaluation; Capital
Allocation; Psychological and
P a g e 88 | 158
Level of
Required
Behavioral Considerations
 Derivatives: Basics of
Derivatives; Forward and
Futures Strategies; Option
Strategies; Bull Spreads; Bear
Spreads and
A5. U, AP,  The Asset Management 14. describe and 30%

Strategy AN, E, D Industry: Active versus perform the steps
for Passive Management; in the portfolio
Portfolio Traditional versus Alternative management
Managem Asset Managers process
ent  Portfolio Management 15. understand the
Process portfolio theories
 Modern Portfolio Theory, in constructing the
Efficient Frontier and optimum portfolio
Investor’s Optimal Portfolio: 16. recognize and
Modern Portfolio Theory; explain how
Investment Opportunity Set; Fintech is shaping
Minimum- Variance the financial
Portfolios; Global minimum- strategies of an
variance portfolio; Markowitz organization
efficient frontier; Capital
Allocation Line/Capital
Market Line; Optimal Risky
Portfolio/market portfolio;
Indifference Curve; Optimal
Investor Portfolio
 Applications of the CAPM in
Portfolio Construction:
SML/Security Characteristic
Line; Security Selection;
Implications of the CAPM for
Portfolio Construction
 Multifactor Models and
Arbitrage Pricing Theory
(APT): Multifactor Models;
Assumptions of APT; Fama
and French three-factor
model; Carhart four-factor
model
 Portfolio Performance
Appraisal Measures: The
Sharpe Ratio; The Treynor
Ratio; Risk-Adjusted
Performance (RAP); Jensen’s
Alpha
 Fintech in Investment
Management: What Is
Fintech; Big Data; Advanced
P a g e 89 | 158
Level of
Required
Analytical Tools: Artificial

Intelligence and Machine
Learning
B. Financial B1. R, U  Financial Systems of 17. Describe the 10%

Market Overview Bangladesh impact of
of  Financial Markets & its types regulation and
(50%) Financial innovation on the
 Regulators of Financial
Systems & Markets. financial system of
Market  Financial Instruments Bangladesh
 The Role of the Government
in Financial Markets &
Financial Innovation
B2. R, U, AP,  Financial Intermediaries & 18. Describe the role 40%
Money AN, E, D Financial Institutions: of Financial
Market Financial Intermediaries and intermediaries for
Globalization of Financial channeling
Markets; Commercial Banks; financial services
Credit Creation; Credit 19. Explain how the
Facilities of Bank; Loan Monetary policy
Pricing; Digital Banking; and Fiscal Policy
Islami Banking; Risk influence each
Management of Bank; Non- other
Banking Financial Institution 20. Understand the
(NBFI); Insurance Company use of money
 The Bangladesh Bank (BB) markets
and Bangladesh Financial instruments for
Intelligence Unit (BFIU): investments as
Bangladesh Bank and its well as a source of
functions; Monetary Policy short-term
and its implications; financing
Monetary policy Vs Fiscal
Policy; Different Kinds of
Money; Credit Systems &
Supervision; Foreign
Exchange Management;
Functions of BFIU; AML (Anti
Money Laundering) & CFT
(Combating Terrorist
Financing)
 Money Market Instruments:
Market Instruments and its
characteristics; Different
types of Instruments
(Treasury bill, certificate of
Deposit, Commercial Papers,
Bankers’ Acceptance,
Eurodollars, Repo Reverse
P a g e 90 | 158
Level of
Required
Repo, Federal Funds, Call

money, LIBOR)
B3.  Organization and Structure of 21. describe different 50%

Capital Capital Market: Primary forms of price
Market Markets and the Underwriting efficiency and the
of Securities; Process for implications of
Issuing New Securities; efficiency for
Regulation of the Primary market
Market; Variations in the participants.
Underwriting Process; Private 22. Understand and
Placement of Securities. comment on
 Markets for Corporate different trading
Securities, Assets backed mechanics
securities and Bond: Capital 23. Illustrate the
market Intermediaries; market for
Characteristics Common derivative
Stock, Bond ETF & Mutual securities
Funds; Trading Mechanics; 24. Understand the
Transaction Costs & Trading role of different
Arrangements for Retail and depository
Institutional Investors; Basic participants
Functioning of Stock Markets
& its Indicators; Structure and
Pricing Efficiency of the Stock
Markets; Over-the-Counter
Markets, Alternative Trading
Board, SME Platform;
Evolving Stock Market
Practice; Asset-Backed
Securities Markets and Bond
Markets.
 Markets for Derivative
Securities: Financial Futures
Markets; Options Markets;
Interest Rate Derivative
Markets; Foreign Exchange
Derivative Markets; Economic
function of the derivative
market
 Depository Participants (DP),
Central Depository
Bangladesh Limited (CDBL)
and Central Counterparty
Bangladesh Limited (CCBL):
Depository Participants -
formation, Functions, Types
of Activities and
Characteristics; CDBL
formation, Functions,
P a g e 91 | 158
Level of
Required
Operational activities and

compliances; CCBL
formation, Functions,
Operational activities and
compliances.
Primary Textbooks
1. ICMAB. (2021). ICMAB Learning Manual for Corporate Finance Strategy. Dhaka: ICMAB.
2. ICMAB. (2021). ICMAB Learning Manual for Financial Markets. Dhaka: ICMAB.
1. Ross, S., Westerfield, R., & Jaffe, J. (2015). Corporate Finance. McGraw-Hill Education.
2. Brigham, E. F., & Ehrhardt, M. C. (2016). Financial Management: Theory & Practice.
Cengage Learning.
3. Fabozzi, F. J., Modigliani, F., & Ferri, M. G. (2010). Foundations of Financial Markets and
Institutions. Pearson.
1. Gaughan, P. A. (2015). Mergers, Acquisitions, and Corporate Restructurings. John Wiley &
Sons.
2. Koller, T., Goedhart, M., & Wessels, D. (2010). Valuation: Measuring and Managing the
Value of Companies. John Wiley and sons.
3. Chew, D. H. (Ed.). (1993). The New Corporate Finance: Where Theory Meets Practice.
McGraw-Hill Companies.
4. Damodaran, A. (2001). Corporate Finance: Theory and Practice. John Wiley & Sons.
5. Mishkin, F. S., Matthews, K., & Giuliodori, M (2007). The Economics of Money, Banking,
and Financial Markets. Pearson education.
6. Alexander, G. J., Sharpe, W. F., & Bailey, J. V. (2001). Fundamentals of Investments.
Pearson.
7. Gardon, E. & Natarajan. K. (2016). Financial Markets & Services. Himalaya Publishing
House.
FSM Course Mapping

PrO1 1 PO1 1, 2 CLO1 1, 2, 3, 4, 6, 9, 12, 13, 14, 15, 18, 23
PrO2 1, 2, 5 PO2 2 CLO2 2, 5, 8, 11
PrO3 4, 6 PO3 2 CLO3 6, 7, 10, 13
PrO4 7 PO4 2 CLO4 19, 20, 21, 22, 24
PrO5 3, 7 PO5 2, 4, 5, 6 CLO5 17, 19, 21
PrO6 1, 2, 7 PO6 1, 2 CLO6 17, 19, 20, 22, 24
PrO7 7 PO7 2, 3, 7 CLO7 7, 10, 13, 16, 24
Learning Outcomes
------0-------
P a g e 92 | 158
Management & Business Strategy Pillar
The Knowledge Pillar Management & Business Strategy (MBS) is the combination of three
courses: Fundamentals of Management & Business Communication (MBC); Marketing &Supply
Chain Management (MSM); and Business Planning and Strategy (BPS).
Fundamentals of Management develops a business leader’s management and decision-making

skills through planning, organizing, leading, and controlling processes in a competitive and
challenging business environment. Similarly, business communication improves the business
leader’s communication and business and report writing skills within and outside the business.
Marketing and supply chain management explains marketing as the creation of customer value
and engagement in a fast-changing, increasingly digital and social marketplace and describes
supply chain management as a systematic approach to manage the entire flow of information,
materials, and goods/services from raw material suppliers to the final end-customer.
Business planning and strategy support the business leaders to craft strategy, evaluate and
manage risks, value organizations, and source financial resources to implement the strategy.
The knowledge from this pillar will help to manage the business efficiently through dynamic
leadership and effective communication with related parties; gain competitive advantage using
the appropriate marketing and supply chain, and show excellent performance applying the
master business plan and strategy. This knowledge pillar will also improve the essential
knowledge, technical skill, practical experience, and professionalism of the business leaders to
achieve the goal of the firm.
Pillar Objectives
On successful completion of the MBS pillar, the aspiring professional accountants will be able
to:
8. describe the fundamentals concepts of management, marketing, supply chain, business
communication, and business strategies.
9. critically evaluate the organization in gaining clear insight of the entity’s features and status.
10. understand the implications of ethical practice for sustainable development.
11. identify, evaluate, and communicate the significance of internal and external factors in
designing strategic course of action.
12. craft operational strategies in gaining competitive advantages.
13. describe how a CMA can practice responsible management aligning activities with the
strategic goals and sustainable development.
14. Realize the contemporary issues and the implications of change management in creating
organizational value.
P a g e 93 | 158
Course Title:
Fundamentals of Management & Business Communication (MBC)
Management& Foundation Fundamentals of Management MS114 100

Business Strategy Level & Business Communication
[MBS] (MBC)
Syllabus Structure
The syllabus comprises the following topics and study weightings:
1. Introduction to Management 10%
A. 2. Planning and Decision-Making Process 10%

Fundamentals
3. Organizing Process 10%
of Management
(50%) 4. The Leading Process 15%
5. The Controlling Process 5%
1. Fundamentals of Effective Business Communication 10%

B. Business
Communication 2. Fundamentals of Business Writing and Business Message 20%
(50%)
3. Fundamentals of Report Writing 10%
4. Cross-Cultural Communication, Correctness, and Technology 10%
Course Description
This course describes the fundamentals of management and business communication, the core
activities of all business, in two parts. The first part of the course, Fundamentals of
Management, describes the key issues of management. It is associated with the basic concepts of
management and management process including planning, organizing, leading, and controlling
in different contexts. This part is designed to understand the management style in managing the
business and to develop business leaders’ management and decision-making skills. The second
part of the course, Business Communication, describes the key issues of business
communication and is associated with the basic concepts of communication and communication
process; fundamentals of business writing, business message, and report writing; and cross-
cultural communication, correctness, and technology. This part is designed to improve the
business leaders’ administrative, communication, and business skills within and outside the
business.
P a g e 94 | 158
Course Objectives
The objective of this course is to develop the theoretical concepts of management and business
communication. This course expects to apply the theoretical concept of management and
business communication in solving real-world problems through dynamic management style
and effective communication. This course is designed to achieve the management and decision-
making skills, business communication, and business and report writing skills of the business
leaders in today’s competitive and challenging business environment. This module will improve
the essential knowledge, technical skill, and professionalism of the business leaders in
management and business communication.

On successful completion of the course, the aspiring professional accountants will be able to:
1. understand the business acumen in selecting the appropriate management tools.
2. describe the basic concepts and process of management.
3. apply the management knowledge and skills in generating ethical business solutions.
4. understand the fundamentals of business communication and communication process.
5. prepare a long- and short-term business report and proposals.
6. express thoughts, ideas, and concepts effectively and smoothly.
7. develop efficient and effective command on the use of different communication mediums to
meet professional demands.
Detail Contents
Level of
of Topics Weight
Required
A. A1. Conceptual R, U, AP,  Concepts of management 1. understand the 20%

Fundamentals and AN, D  Role of management basics of
of Management environmental  Efficiency and management
(50%) aspects of effectiveness 2. discuss the
Management  Types of managers evolution of
 Basic management management
functions through
classical,
 Fundamental management
behavioral, and
skills
quantitative
 Management as a science
perspectives.
and art
3. discuss the key
 Importance of theory and
contemporary
history
management
 Historical context of perspectives
management with challenges
 Evolution of management and
 Contemporary opportunities.
management perspectives: 4. discuss the
 Systems and contingency nature of an
perspective organization’s
P a g e 95 | 158
 Contemporary environments
management issues and and identify the
challenges components of
 The organization’s its general, task,
environments and internal
 The Ethical and Social environments.
aspects of management 5. describe the
 Issues of International ethical and
Business social
 The organization’s culture environment,
international
environment of
management.
6. describe the
organization’s
culture, and
how
organizational
culture can be
managed.
A2. Planning U, AP,  Planning and strategic 7. discuss the 20%

and Decision- AN, E, D management planning
Making Process  Planning and process, and
organizational goals organizational
 Criticism of planning goals.
 The nature of strategic 8. discuss various
management strategy and
 SWOT analysis in SWOT analysis
formulating strategy to formulate
strategy.
 Formulating business-level
9. discuss types of
strategies
decisions and
 Formulating corporate-
behavioral,
level strategies
group and team
 Tactical and operational
decision making
planning
in organization.
 Nature of decision making
 Rational perspectives on
decision making
 Behavioral aspects of
decision making
 Group and team decision
making in organizations
A3. Organizing U, AP,  Basic elements of 10. discuss the 20%

Process AN, E, D organizing organization
 Bureaucratic model of structure and
organization design design with
 Situational influences on emerging issues.
organization design 11. describe nature,
 Basic forms of and areas of
organization design organization
change.
P a g e 96 | 158
 Emerging issues in 12. describe the
organization design. innovation
 Nature of organization process, forms
change of innovation,
 Managing change in the failure to
organizations innovate, and
 Areas of organization how
change organizations
 Organizational innovation can promote
innovation.
 Environmental context of
13. discuss how
HRM
organizations
 Attracting human
attract, develop,
resources
and maintain
 Developing human
human
resources
resources and
 Maintaining human workforce
resources
diversity.
 Managing workforce
diversity
 Managing labor relations
 New challenges in the
changing workplace
A4. Leading U, AP,  Individuals in 14. discuss the basic 30%

Process AN, E, D organizations elements of
 Personality/attitude/perce individual
ption/stress and individual behavior and
behavior workplace
 Creativity in organizations behavior.
 Types of workplace 15. describe
behavior employee
 Employee motivation and motivation and
performance relationship
between
 Nature of motivation
motivation with
 Content/process/reinforce
performance.
ment perspectives on
16. discuss the
motivation
generic,
 Popular motivational
situational and
strategies
related
 Reward systems in
approached to
motivation leadership and
 Leadership and influence political
processes behavior in the
 Nature of leadership organization.
 Approaches to leadership 17. describe the
 Political behavior in process of
organizations groups and
 Groups and teams in teams
organizations development
 Characteristics of groups and reduce the
and teams conflict and
 Interpersonal and process of
intergroup conflict negotiation.
P a g e 97 | 158
 Managing conflict in
organizations
 Negotiation
A5. Controlling U, AP,  Basic elements of control 18. explain the 10%
process AN, E, D  Nature of control purpose of
 Operations/financial/struc control, identify
tural/strategic control different types
 Managing control in of control, and
organizations describe the
 Nature of operations steps in the
management control process.
 Designing operations
19. describe nature
systems
and methods of
 Organizational
operation,
technologies
quality and
 Implementing operations
productivity
systems through supply
management.
chain management
 Managing total quality
 Managing productivity
B. Business B1. R, U, AP,  Purpose and principles of 20. discuss 20%

Communication Fundamentals AN, E, D communication the basic
(50%) of Effective  Role of communication in concept of
Business business business
Communication  Categories and process of communication
business communication and
 Communication structure communication
 Formal and informal process.
communication network 21. discuss the
Communication
 Culture and its effects on
structure and
communication
communication
 Media of communication
network
 Barriers of communication
management.
 Business communication
22.discuss the
in the digital age communication
 Forms of communication barrier and way
 Oral communication to remove the
 Using speech recognition barrier.
for messages and reports 23.discuss the
 Listening basics of oral,
 Mastering formal speaking interpersonal
 Reporting orally and Written
 Making formal speeches Communication
 Giving team and use of these
(collaborative) in effective
presentations business
 Presenting virtually communication.
 Non- verbal 24.discuss the
communication merits and
 interpersonal limitations of
oral,
P a g e 98 | 158
communication interpersonal
 Written communication and Written
 Purpose of writing and Communication.
clarity in writing
 Principles of effective
writing
 Steps of writing process
 Differentiate between oral
report and written report
 Merits and limitations of
different forms of
communication
B2. R, U, AP  Adaptation and the 25. discuss the 40%

Fundamentals selection of words basics of
of Business  Nondiscriminatory writing business writing
Writing and  Care in including in
Business sentence/paragraph design terms of words,
Message  Writing for a positive effect sentences, and
 Importance of skillful paragraph.
writing 26.discuss the
importance of
 Importance of readable
positive effect in
formatting
business
 Letters/memos/emails
writing.
 The newer media in
27. discuss the
business writing
basics of
 Directness in good-news
business
and neutral messages:
message in
prevalence, preliminary terms of letter,
assessment; general direct
memos, email
plan; routine inquiries; etc.
favorable responses;
28. discuss
adjustment grants; order
the directness in
acknowledgements and good news and
other thank you messages;
neutral message
operational messages;
and indirectness
other direct message
in bad news and
situation;
persuasive
 Indirectness in bad- news message.
message and persuasive 29.discuss the job
messages: situations; searching
general indirect plan; process.
refused requests; claims;
adjustment refusals;
negative announcements;
other indirect messages;
rationale for indirectness;
general advice about
persuasion; persuasive
requests; sales messages;
proposals
 Communicating in the job-
search process: preparing
P a g e 99 | 158
the application documents;
constructing the résumé;
writing the cover message;
handling the interview;
following up and ending
the application
B3. R, U, AP,  Basics of report writing: 30. discuss 20%

Fundamentals AN, E defining reports; how to prepare
of Report determining the report well organized
Writing purpose; determining the and structured
factors; gathering the report and use
information needed; the graphics
interpreting the findings; effectively in the
organizing the report report.
information; writing the
report; collaborative report
writing
 Types of business reports:
an overview of report
components;
characteristics of shorter
reports; forms of shorter
reports; types of short
reports; components of
long, formal reports,
structural coherence plan;
long analytical report.
 Graphics in reports and
other documents: planning
the graphics; determining
the general mechanics of
construction; constructing
textual graphics;
constructing visual
graphics
B4. Cross- U, AP,  Cross-cultural 31. describe the 20%

Cultural AN, E, D communication: the major issues in
Communication growing importance of cross-cultural
, cross-cultural communication.
Correctness, communication 32.describe the
and Technology  Dimensions of cultural correctness of
difference; problems of communication
language; advice for in terms of
communicating across punctuation,
cultures grammar,
 Correctness of numbers and
communication: the spelling.
nature and importance of 33.describe the role
correctness; standards for of technology in
punctuation; standards for business
grammar; standards for communication.
the use of numbers;
P a g e 100 | 158
spelling
 Technology-enabled
communication:
technological support for
writing tasks; tools for
constructing messages;
print versus online
documents; computer
tools for creating
electronic documents;
computer tools for
collaboration

Primary Textbooks
1. ICMAB. (2021). ICMAB Learning Manual for Fundamentals of Management. Dhaka:
ICMAB
2. ICMAB. (2021). ICMAB Learning Manual for Business Communication. Dhaka: ICMAB
1. Robbins, S. P., DeCenzo, D. A., Coulter, M., & Anderson, I. (2013). Fundamentals of
Management. New Jersey: Pearson Education Inc.
2. Griffin, R. W. (2016). Fundamentals of Management. Cengage Learning.
3. Rentz, K., Flatley, M. E., & Lentz, P. (2014). Lesikar’s Businss Communication: Connecting
in Digital World. McGraw-Hill
4. Lesikar, R. V., Pettit, J.D., & Flatley, M.E. (1999). Basic Business Communication.McGraw-
Hill

1. Lewis, P. S., Goodman, S. H., Fandt, P. M., & Michlitsch, J. (2012). Management: Challenges
for Tomorrow’s Leaders. Thomson South-Western
2. Koontz, H., & Weilrich, H. (2007). Essentials of Management. Tata McGraw-Hill
3. Bovee, C. L., & Thill, J. V. (2018). Business Communication Today. Prentice Hall
4. Murphy, H. A., Hildebrant, H. W., & Thomas, J. P. (1997). Effective Business
Communication Tata McGraw-Hill
MBC Course Mapping

PrO1 2 PO1 2 CLO1 4, 6, 10, 11, 16
PrO2 1 PO2 1 CLO2 1, 2, 3, 7, 9, 12, 13, 14, 15, 16, 17, 18, 19
PrO3 3, 6 PO3 3 CLO3 5, 8, 9, 16
PrO4 4 PO4 4, 5, 6, 7 CLO4 20, 21, 22, 23, 24, 26
PrO5 5 PO5 - CLO5 27, 30
PrO6 4 PO6 5 CLO6 23, 25, 27, 28, 29, 31, 32
PrO7 5, 7 PO7 7 CLO7 23, 25, 27, 33
Learning Outcomes
P a g e 101 | 158
Course Title:
Marketing & Supply Chain Management (MSM)
Management&Business Intermediate Marketing & Supply MS224 50

Strategy [MBS] Level I Chain Management
(MSM)
Syllabus Structure

1. Marketing and the Marketing Process 10%
A. Marketing 2. Understanding the Marketplace and Customer Value 10%
(50%) 3. Designing a Customer Value-Driven Strategy and Mix 25%
4. Emerging issues in Marketing 5%
1. Introduction to Supply Chain Management 5%

B. Supply 2. Supply chain planning and Design 15%
Chain 3. Supply Chain Process 20%
Management
4. Supply Chain Integration Issues 5%
(50%)
5. Emerging Issues in Supply Chain Management 5%
Course Description
This course describes marketing and supply chain management, the core areas of all business, in
two parts. The first part of the course explains marketing as the creation of customer value and
engagement in a fast-changing, increasingly digital, and social marketplace. The first part of the
course describes the key issues of marketing and is associated with basic concepts of marketing
and marketing process; understanding the marketplace and customer value; designing customer
value-driven strategy and mix, and emerging issues in marketing. The second part of the course
explains supply chain management as a systematic approach to manage the entire flow of
information, materials, and goods/services from raw material suppliers through factories and
warehouses to the final end-customer in the right quantity and at the right time. This part also
describes the key issues of supply chain management; planning and designing the supply chain;
supply chain process and integration and the emerging issues related tothe supply chain.
Course Objectives
The objective of this course is to develop the theoretical concepts of marketing and supply chain.
This course expects to apply the theoretical concepts of marketing and supply chain in solving
real-world problems. This course improves the basic understanding of recent developments and
emerging issues in marketing and supply chain management. This course is designed to achieve
competitive advantage and world-class performance and to improve the essential knowledge,
technical skill, and professionalism of the business leaders in marketing and supply chain.
P a g e 102 | 158
1. understand the concept of marketing, marketing process and strategic marketing decisions.
2. understand the market environment and buying behavior of consumers and business buyer.
3. understand the customer value-driven strategy and mix for creating sustainable customer.
4. understand the basic concept of recent development and emerging issues in marketing.
5. understand the basic concept of supply chain and supply chain management.
6. understand the planning, design, process and integration issues of supply chain from raw
material suppliers to the final end-customer through comprehensive theoretical discussion
with practical applications.
7. understand the basic concept of recent developments and emerging issues in supply chain.
Detail Contents
Level of
of Topics Weight
Required
A. Marketing A1. Marketing U, AP, AN,  Marketing: Creating Customer Value 1. outline the steps in 20%
and the D and Engagement: What is the marketing
(50%) Marketing Marketing; Marketplace and process.
Process Customer Needs; Designing a 2. discuss how to
Customer Value -Driven Marketing design business
Strategy and plan; Managing portfolios and
customer relationships and develop growth
capturing customer value; The strategies.
Changing Marketing Landscape. 3. explain marketing’s
 Company and Marketing Strategy: role in strategic
Partnering to Build Customer planning.
Engagement, Value, and 4. sketch marketing
Relationships: Company-Wide strategies
Strategic Planning: Defining considering the
Marketing’s Role; Designing the relevant driving
Business Portfolio; Planning forces
Marketing: Partnering to Build
Customer Relationships; Marketing
Strategy and the Marketing Mix;
Managing the Marketing Effort and
Marketing Return on Investment.
A2. U, AP, AN,  Analyzing the Marketing 5. explain how 20%

Understanding E, D Environment: The changes in the
the Marketplace Microenvironment and macro environmental
and Consumer environment; The Demographic and factors affect
Value Economic Environments; The marketing
Natural and Technological decisions/strategies
Environments; The Political- Social .
and Cultural Environments; 6. identify the major
P a g e 103 | 158
Responding to the Marketing factors that
Environment. influence consumer
 Consumer Markets, business market, and business buyer
Buyer Behavior, and Business Buyer behavior.
Behavior: Consumer market and 7. describe the
business market; model of consumer adoption and
behavior and business buyer diffusion process
behavior; Characteristics Affecting for new products
Consumer Behavior; Buying
Decision Behavior and buyer
decision process; The Buyer Decision
Process for New Products; Business
Buyer Decision Process; Engaging
Business buyers with Digital and
Social Marketing; Institutional and
Government Markets.
A3.Designing a U, AP, AN,  Customer Value -Driven Marketing 8. decide the major 50%
Customer E, D Strategy: Creating Value for Target steps in designing a
Value-Driven Customers: Customer Value Driven- customer-driven
Strategy and Marketing Strategy; Market marketing strategy.
Mix Segmentation; Market Targeting; 9. describe the stages
Differentiation and Positioning. of the product life
 Products, Services, Product Life- cycle and how
Cycle Strategies and Brands: marketing
Building Customer Value: What is a strategies change
Product; Product and Service during a product’s
Decisions; Services Marketing; New life cycle.
Product Development Strategy; The 10. explain how digital
New Product Development Process marketing is
and Management; Product Life-Cycle shaping marketing
Strategies; Additional Product and strategy
Service Considerations;Branding 11. formulate
Strategy: Building Strong Brands. marketing
 Pricing: Understanding and strategies (for
Capturing Customer Value: What is a product, promotion,
price; Major pricing strategies; New pricing, etc.)
Product Pricing Strategies; Product considering the
Mix Pricing Strategies; Price relevant internal
Adjustment Strategies; Price and external factors
Changes; Public Policy and Pricing; 12. discuss sustainable
Other internal and external marketing and
considerations affecting price major social
decisions criticisms of
 Promotional Activities: Advertising, marketing.
Personal selling, Sales Promotion 13. define consumerism
and Public Relations: Advertising and
and Major Advertising Decisions; environmentalism
Personal Selling; Managing the Sales and explain how
Force; The Personal Selling Process; they affect
Sales Promotion; Public Relations marketing
and Major Public Relations Tools; strategies.
 Digital and Sustainable Marketing:
Direct and digital Marketing and
Forms of direct and digital
Marketing; Marketing, the Internet,
and the Digital Age; Social Media
and Mobile Marketing; Traditional
Direct Marketing Forms; Moving
from Traditional to Digital
P a g e 104 | 158
Marketing; Integrating Traditional
and Digital Marketing; Sustainable
Marketing; Social Criticisms of
Marketing; Consumer Actions to
Promote Sustainable Marketing;
Business Actions Toward Sustainable
Marketing; and Marketing Ethics
and the Sustainable Company.
A4. Emerging U, AP  Understand the basic concept of 14. discuss the recent 10%
issues in recent developments and emerging developments and
Marketing issues in marketing emerging issues of
marketing.
B. Supply B1. Introduction R, U, AP  Definition,objectives, and 15. explain the three 10%
Chain to supply chain importance of supply chain and key phases in
Management management supply chain management supply chain
 decision phases in supply chain decision.
(50%) 16. describe current
 foundations of supply chain
management trends in supply
 process views of supply chain chain management.
 examples of supply chain
 current trends in supply chain
management
B2. Supply R, U, AP,  ERP: What is ERP? How ERP 17. explain and 30%
chain planning AN, E, D Connects the Functional Units; How illustrate the
and Design Supply Chain Planning and Control implications of ERP
Fits Within ERP; Performance and MRP in supply
Metrics to Evaluate Integrated chain planning and
System Effectiveness. design.
 MRP: Understanding Material 18. forecast demand in
Requirements Planning; Material a supply chain using
Requirements Planning System different methods.
Structure; Example and Lot Sizing in 19. design supply chain
MRP Systems. network managing
 Demand Forecasting in a Supply demand and supply
Chain: Role and characteristics of to improve
forecasting in a supply chain; synchronization in a
Components of a forecast and supply chain
forecasting methods; Basic approach 20. comment on the
to demand forecasting; Time-Series issues in supply
forecasting methods; Measures of chain planning and
forecast error; Selecting the best design
smoothing constant; Web-Based 21. explain different
Forecasting; The role of IT in strategies that may
forecasting; forecasting in Practice be used to mitigate
 Managing Demand and Supply in a risk in global supply
Supply Chain: Responding to chains.
predictable variability in the supply
chain; Managing supply; Managing
demand; Aggregate Planning
Techniques; Implementing sales and
operations Planning in Practice;
Yield Management.
 Designing the Supply Chain
Network: Designing the Distribution
P a g e 105 | 158
Network and Applications to Online
Sales: The role of distribution in the
supply chain; Factors influencing
distribution network design; Design
options for a distribution network;
Online sales and the distribution
network; Distribution networks in
Practice
 Designing Global Supply Chain
Networks: The impact of
globalization on supply chain
networks; The offshoring decision:
Total Cost; Risk management in
global supply chains; Discounted
cash flows; Evaluating network
design Decisions using decision
trees;
 To Onshore or Offshore: Evaluation
of global supply chain design
decisions under uncertainty; Making
global supply chain design decisions
under uncertainty in Practice
B3. Supply U, AP, AN,  Purchasing and Supply Chain 22. understand the 40%
chain process E&D Management basic concept and
 Manufacturing in a Supply Chain process of each
Context; element of supply
 Lean and six sigma in the supply chain process.
Chains
 Inventory Management
 Logistics, distribution, and
transportation in a Supply Chain
 Warehousing
 Sourcing and procurement
 Returns Management
 Customer Service in a Supply Chain
 Order Fulfillment
B4. Supply U, AP, AN,  Supply Chain Process Integration: 23. explain the reasons 10%
Chain E, D The Supply Chain Management and implications of
Integration Integration Model; Factors Driving supply chain
Issues Supply Chain Integration; Benefits integration
and obstacles to Process Integration 24. identify and
along the Supply Chain; Managing comment on the
Supply Chain Risk and Security major drivers of
 Performance Measurement Along supply chain
the Supply Chain: Viewing the performance.
Supply Chain as a Competitive 25. discuss how the
Force; Traditional Performance balanced scorecard
Measures; World-Class Performance and SCOR models
Measurement Systems; Supply Chain work
Performance Measurement Systems;
Drivers of Supply Chain
Performance; The Balanced
Scorecard and the SCOR Model
B5. Emerging U, AP  Understand the basic concept of 26. discuss the 10%
Issues in Supply recent developments and emerging implications of IT
P a g e 106 | 158
Chain issues in supply chain: Information and E-business in
Management technology in supply chain; E- supply chain.
business and supply chain; Financial 27. comment on the
flow in a supply chain; recent recent
developments and emerging issues developments and
in supply chain management emerging issues of
supply chain.
Here, R = Remembering,U = Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D = Decision

making; are the seven levels of learning developed based on the Bloom’s Taxonomy.

Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Marketing & Supply Chain Management. Dhaka:
ICMAB
1. Kotler, P., & Armstrong, G. (2015). Principles of Marketing. Pearson.
2. Kotler, P., Kartajaya, H., & Setiawan, I. (2016). Marketing 4.0: Moving from Traditional to
Digital. Willey.
3. Jacobs, F. R., & Chase, R.B. (2013). Operations and Supply Chain Management. McGraw -
Hill Education.

1. Kotler, P., & Keller, K. L. (2016). Marketing Management. Prentice Hall.
2. Wisner, J. D., Tan, K.C., & Leong, G. K. (2018). Principles of Supply Chain Management: A
Balanced Approach. South-Western Cengage Learning.
3. Chopra, S, & Meindl, P. (2013). Supply Chain Management: Strategy, Planning and
Operation. Pearson
4. Min, H. (2015). The Essentials of Supply Chain Management: New Business Concepts and
Applications. Pearson.
5. CSCP. (2018). Study Manual of Certified Supply Chain professional. APICS: CSCP.
MSM Course Mapping

PrO1 2 PO1 1, 5 CLO1 1, 2, 3, 4, 5,
PrO2 1 PO2 6 CLO2 5, 6, 7,
PrO3 3 PO3 3 CLO3 7, 8, 9, 11, 12, 13,
PrO4 4 PO4 2, CLO4 10, 14
PrO5 5 PO5 2, 3, 6 CLO5 15, 16, 22
PrO6 4 PO6 - CLO6 17, 18, 19, 20, 21, 22, 23, 24, 25
PrO7 5, 7 PO7 4, 7 CLO7 26, 27
Learning Outcomes
P a g e 107 | 158
P a g e 108 | 158
Course Title:
Business Planning and Strategy (BPS)
Management&Business Advanced Level Business Planning MS352 100

Strategy [MBS] II and Strategy (BPS)
Syllabus Structure
Segment Segment Title Weight
A Overview of Strategy 10%
B Strategic Analysis 25%
C Strategic Choice and Implementation 40%
D Performance Management and Control 15%
E Business Planning and Strategy for CMAs (Bangladesh Aspect) 10%
Course Description
This course provides a holistic understanding of how an organization analyses, develop and
implement business strategy including overall business planning process overview with
professional and ethical implications. This course will also drive focus on the competitive
market strategic decision-making process, both from Bangladesh and global aspect with
emphasis on the Cost and Management efficiency and business ethics.
Course Objectives
The objectives of this course are:
1. analyze and identify the external environment and internal strategic capability.
2. evaluate the consequences of strategic choices; recommend strategies to achieve stakeholder
objectives.
3. critically analyze corporate level and business level strategies for organizational success and
recommend appropriate methods of implementing strategies.
4. understanding of strategic control systems and the desirable attributes of strategic.
5. performance measures and techniques.
6. monitoring strategic performance and manage business risks.

On successful completing this course, the aspiring professional accountants will be able to:
1. link organizational steps, objectives, goals, mission, and vision with organizational strategy.
2. understand the role of CMA in crafting strategy.
P a g e 109 | 158
3. evaluate the strategic significance of different internal and external factors for competitive
advantage.
4. craft strategy considering associated risks, environmental changes, product life cycle,
strategic options, information systems, and other relevant factors.
5. deploy strategic control systems including strategic performance measures and techniques.
6. describe the implications of ethical principles and responsible management practices in
today’s competitive business environment.
7. comprehend the strategy for change management resulting competitive advantage in today’s
dynamic business environment.
Detail contents
Level of
Topics Weight
Required
A. Overview of A1. Introduction R, U, AP  What is strategy 1. recognize the 50%

Strategy to Planning and  Purposes of Strategy importance of
Strategy  Types of Strategy crafting strategies
(10%) in competitive
 Levels of Strategy
 Approach to strategy business
formulation environment
 Strategic Planning
 Importance of Planning
 Strategic Planning vs.
Strategic Management
 Benefits and criticism of
strategic planning
A2. Business R, U, AP,  Vision, Mission, Goals and 2. link vision, 50%
Strategies AN and Objectives of Business; mission, goals and
E  Business KPIs objectives in the
 Roles of Cost and process of
Management Accountants formulating
in Strategic Management strategy
 Mintzberg’s deliberate and 3. illustrate the role
Emergent Strategies of CMAs in
 Positioning vs. Resource developing
based view of Strategy sustainable
strategies
 Strategic Planning Horizon
4. compare and
 Strategy and Ethics
contrast different
 Sustainable strategies
views about
strategies.
B. Strategic B1. External R, U, AP,  Evaluate Organization’s 5. recognize and 35%

Analysis Environment AN, E, D purpose analyze the
external factors
P a g e 110 | 158
(25%) Analysis  Nature of Business which may have
Environment strategic
 Importance of significance.
understanding business 6. understand
environment business
 Environmental dynamics environment in
 Scenario Planning global and
 PESTEL Analysis Bangladesh
perspectives
 Analysis of External Factors
- Sustainability including
natural capital and climate
change
 Macroeconomic forces
 Cultural environment
 Stakeholder impact
 Markets for finance
 Labor and other resources
 Government policies,
Supply chain factors
 Technology developments
 Digital technology including
those relating to automation
and intelligent systems
 International business
context - international trade
 Financial systems and
Global economic factors;
Globalization
 Geopolitics
 Limits of Globalization of
Business
 Environment Analysis –
Bangladesh aspects
B2. Industry and R, U, AP,  Definition of industry and 7. understand the 30%
Market factor AN, E, D market impacts of
Analysis  Industry Life Cycle different stages of
 Strategic Implications of industry life cycle
Industry Life cycle in crafting
 Porter’s Five Forces strategies to
Approach for strategic deliver competitive
analysis success.
 Limitations of five forces
model
 Competitions in different
types of industry
 Industry Segments and
Strategic groups
 Product Life Cycle and
international activities
P a g e 111 | 158
B3. Internal R, U, AP,  Factors affecting business 8. identify significant 35%
Environment AN, E, D ability-Resources internal factors
Analysis  Competences and Capability affecting business
 Critical Success Factors ability to achieve
(CSF) its chosen strategy.
 Core Competences 9. utilizing different
 Distinctive Competences tools and
techniques to
 Benchmarking competences
develop matrix for
 Resource Audit
evaluating factors
 Limiting Factors Analysis
and formulation of
 Value Chain Analysis – Cost
strategies.
Drivers and Value Drives
 Value System
 Outsourcing Value Activities
 Supply Chain management
 Networks and Global
Business
 Development of Product-
Service Portfolio
 BCG Matrix
 Shortcoming of BCG Matrix
 Corporate Appraisal (SWOT
Analysis)
 Weirich’s TOWS Matrix,
GAP Analysis
 Strategic movement
towards GAP minimizing
C. Strategic C1. Strategic R, U, AP,  Broad categories of 10. identify and 15%
Choice and Options AN, E, D strategies evaluate the
Implementation  Choice and development of alternative
Generic Competitive competitive
(40%) strategies available
Strategies (Porter’s 3
Generic Strategies and to a business in a
Bowman’s strategic clock) given scenario
 Difficulties on 11. design and develop
implementation of product and
competitive strategies market related
 Ansoff’s Matrix for Product- strategies
market strategy
development
C2. R, U, AP,  Concept of Market and 12. evaluate the 15%

Product/Service- AN, E, C, Marketing relationship
Market D  Market Segmentation between strategy
Strategies  Targeting and Positioning and the
 Behavioral aspects of product life cycle
Buyers and Customers 13. identify and utilize
 Branding and Brand equity tools and
techniques to gain
 Marketing Mix (Product,
maximum
Price, Place and Promotion)
P a g e 112 | 158
for products and services competitive
 Marketing strategies for advantage through
Digital and Sustainable placing products
Marketing and services in
 Roles of Marketing Mix and market
Limitations of Marketing
Mix
 Relationship marketing
C3. Business R, U, AP,  Overview of business 14. understand the 15%

Structure AN, E, C, structure; Importance of
Strategies D  Different organizational business structure
structures for developing
 Advantages and competitive
disadvantages of different strategies.
organizational structures 15. identify and
 Centralization vs. evaluate alterative
Decentralization business structures
 Mintzberg’s theory of and recommend
organizational configuration appropriate
structure for a
 Divisionalised organizations
given strategy.
 Relationship between
strategy and structure
 Aligning business structure
for a given strategy
 Governance and Strategy
 Behavioral theories of
decision making
 Model for rational decision-
making process
C4. R, U, AP,  Concept of “Growth” and 16. identify and 15%

Development AN, E, C, methods of growth for evaluate different
Strategies D business growth options for
 Different types of growth business along
options for business with pros and cons
(Merger, Acquisitions, Joint of each option.
Venture, Alliance, Licensing 17. designing
and franchising) appropriate growth
 Outsourcing strategies for
 Divestment and sustainable
rationalization business
 International expansion expansion.
C5. Information R, U, AP,  Strategic values of 18. understand the 10%

and Technology AN, E, C, Information and value of
Strategies D Information Technology in information for
business competitive
 Levels of information in the advantage and in
organization strategy design.
 Benefits and Qualities of 19. identify key
P a g e 113 | 158
good information changes needed in
 Strategies for dealing with information system
IS/IT related issues and to cope with
risks advancement in
 Knowledge management technology system
along with
associated risks.
C6. Change R, U, AP,  Change Management 20. evaluate the role of 15%
Management AN, E, C,  Need for an organization to change
Strategies D change management in
 Triggers for organizational implementing
change strategic change.
 Change processes in 21. identify the key
organizations steps in the change
 Different approaches of management
change process.
 Force Field Analysis
 Implications of changes on
the individuals
 Managing resistance to
change
 Change management and
Strategy implementation
 Project Management
 Role of Project Manager in
strategic development
 Re-engineering and
innovation
 Lean Management and its
benefits
C7. Risk R, U, AP,  Meaning of “Risk” in 22. compare and 15%

Management AN, E, C, business context contrast different
Strategies D  Risk vs. uncertainty types of risks in a
 Types of Risks business context.
 Sources of Risks 23. identify, assess and
 Risk Management Strategy mitigate risk
involved in
 Identification of Risks
strategic
 Description of risks
decisions and
 Risks measurement
outcomes.
techniques
24. understand the
 Strategic risk treatments importance of
 Risk Disclosure enterprise-wide
risk
management for
gaining
competitive
advantages.
P a g e 114 | 158
D. Performance D1. Evaluation R, U, AP,  Evaluation criteria for 25. identify 100%
Management of strategies and AN, E, C, assessing strategic options approaches to
and Control performance D  MIT approach for evaluate
measurement identifying and evaluating performance of
(15%) strategies and
CSFs
 Key Performance Indicators designing control
(KPIs) systems in terms of
 Guidelines for designing functions, levels
strategic control systems and other
 Audit of key resources and dimensions.
capabilities required to 26. understand the
implement strategy role of contingency
planning in
 The function of strategic
strategic
control;
control and review.
 Level of control, Matching
structure and resources to
strategy
 Different Strategic
Performance measurement
techniques (Both Financial
and Non-financial)
 Budgets and budgetary
control
 Importance and role of
budgetary controls
Contingency planning in
strategic control and review
 Evaluation of Human
Resource Management
(HRM) planning, Research
and Development (R& D)
planning, operational
planning and management
E. Business R, U, AP,  Corporate Social 27. understand the 100%

Planning and AN, E, C, Responsibility and role of cost and
Strategy for D sustainability management
Cost and  Not-for-profit organizations accountant in
Management and Public Sector the strategy
Accountants organization development and
(Bangladesh  Business Ethics implementation
Aspect)  Ethical Marketing processes and
 Corporate Governance and contemporary
(10%) practices/issues in
related compliance strategy
perspective of
 Disaster recovery Plan, IT
Bangladesh.
Emergency response plan
 Business Planning and
Strategy in dealing Big data
analytic, Process
automation, Artificial
intelligence, Data
P a g e 115 | 158
visualization, Blockchain,
and other emerging issues
 Real life Strategy formation
protocol in different
industries in Bangladesh
 GAP between real life
strategy formation process
vs. Theoretic norms
 How Strategy formation
role out in Multinational
environment
Recommended Books and Learning Materials

Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Business Planning & Strategy. Dhaka: ICMAB
1. Hill, C. W. L., Jones, G. R., & Schilling, M. A. (2014). Strategic Management Theory: An
Integrated Approach, USA: Cengage
2. Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2007). Strategic Management, USA:
Thomson South-Western

1. Thompson, A. A., Strickland, A. J., Gamble, J.E., & Peteraf, M.A. (2015). Crafting and
Executing Strategy: The Quest for Competitive Advantage. USA: McGraw Hill Education
2. David, F. R., & David, F.R. (2015). Strategic Management: A Competitive Advantage
Approach. UK: Prentice Education Ltd
3. CIMA. (2019). Study Manual on Strategic Management. UK: CIMA (Chartered Institute of
Management Accountants)
4. ICMAP. (2018). Study Manual on Strategic Management. Pakistan: ICMAP (Institute of
Cost and Management Accountants of Pakistan)
5. CMA, Sri Lanka. (2017). Study Manual on Business Strategy and Risk Management. Sri
Lanka: CMA (Certified Management Accountants of Sri Lanka)
BPS Course Mapping

PrO1 2 PO1 1, 5 CLO1 2, 7, 11, 13, 16, 19, 25
PrO2 1 PO2 1, 3 CLO2 3, 27
PrO3 3, 6 PO3 6 CLO3 4, 5, 6, 8, 9, 12, 14, 15, 16, 18, 22
PrO4 4 PO4 3, 4 CLO4 7, 10, 11, 13, 15, 17, 19, 23, 24
PrO5 5 PO5 4, 5 CLO5 25, 26
PrO6 4 PO6 2 CLO6 1, 2, 3
PrO7 5, 7 PO7 7 CLO7 1, 6, 20, 21
Learning Outcomes
-------0--------
P a g e 116 | 158
Audit & Assurance Pillar
The Audit& Assurance (AA) pillar aims to develop knowledge and understanding of the basic
concept of audit and assurance, the process of carrying out the assurance engagement, and its
application in the context of the professional and legal framework. This pillar focuses on both
the financial audit and the cost & management audit. The AA pillar comprises basics of audit
and assurance, audit engagement, audit framework, responsibilities, professional ethics, audit
process and reporting in line with International Standards on Auditing, compliance with law
and regulations, and legal framework of Audit. This will ensure that the students understand the
assurance process and fundamental principles of ethics and can contribute to the assessment of
internal controls and gathering of evidence on an assurance engagement. It will help aspiring
professional candidates to develop technical and professional skills and knowledge along with
ethical requirement which can be applied to their professional work.
There are two courses under the pillar, ‘Auditing’ (AUD, at the Intermediate Level II) and ‘Cost
& Management Audit’ (CAT, at the Advanced Level II). The first course of the pillar will provide
candidates a complete picture of the financial audit. Contrary, the aspiring Cost and
Management Accountants will be exposed to the independent audit of cost accounting records,
performing quality control reviews, and reporting on performance appraisal at the advanced
level.
Pillar Objectives
On successful completion of the AA pillar, the aspiring professional accountants will be able to:
1. evaluate features of an organization in selecting appropriate audit procedure.
2. describe the conceptual and regulatory audit framework.
3. comment on the internal control systems of an organization.
4. understand and apply the provisions of different auditing and assurance standards.
5. recognize and apply the professional code of ethics in performing the role of an
auditor.
6. explain the implications of information technology on auditing and the audit process
of information systems.
7. understand the contemporary and emerging issues of auditing.
P a g e 117 | 158
Course Title:
Auditing (AUD)

Audit& Assurance [AA] Intermediate Auditing (AUD) AA133 100
Level II
Syllabus Structure

A Introduction to Audit and Assurance 20%
B Internal Control and Audit Framework 30%
C Assurance Engagement and Reporting 40%
D Auditors Role in Emerging Areas 10%
Course Description
The Audit and Assurance course is divided into four major segments. It starts with the nature,
purposes, and scope of audit assurance engagements. In explaining audit engagements, the
responsibilities and liabilities of both the auditor and management are explained. Focus is then
given to the statutory audit, its regulatory environment, governance, and professional ethics
relating to audit and assurance. It then leads to planning the audit and assessing relevant risks.
The course also covers a range of areas relating to an audit of financial statements including the
scope of internal control and the role of internal audit. These include evaluating internal
controls, audit evidence, and a review of the financial statements. In addition to final review
procedures, the final section concentrates on reporting, including the form and content of the
independent auditor’s report. It also explains the role of an Auditor in emerging areas.
Course Objectives
This course focuses on the basic knowledge of audit and assurance, the legal and regulatory
environment of the assurance engagement, and the professional and ethical considerations for
the assurance provider. It also seeks to provide the learner with the ability to identify, analyze,
and conclude on an assurance engagement in the context of best practice. It also promotes the
decision-making skills and administrative competence relevant to financial accounting and
corporate management in general.

On successful completion of the course, the aspiring professional accountants will be able to:
1. discuss the fundamental requirements of different assurance engagements.
2. sketch, evaluate, and comment on the requirements of effective internal control systems.
3. understand the relevant conceptual and legal requirements in the auditing framework.
4. carryout auditing process following the International Standards on Auditing.
5. understand the professional code of ethics in performing the role of an auditor.
6. illustrate the implications of IT on auditing and assurance.
P a g e 118 | 158
7. understand the contemporary issues influencing the work of an auditor.
Detail Contents
Level of
topics weight
required
A. A1. R, U  Concept of Audit and 1. explain the 50%

Introduction Fundamental Assurance concept of audit
to Audit and concepts and  Key elements of an and assurance
Assurance scope assurance engagement 2. understand the
(20%)  Benefits and limitations requirements and
of Assurance reasons for
 Objectives, nature, assurance
purpose, and scope of engagements
assurance engagement
 Levels of Assurance
 Internal audit
 External audit
 Role of the Audit
committee
A2. R, U, AP  Management 3. understand the 50%

Responsibilities responsibilities responsibilities of
and Professional  Assurance providers’ management and
Liabilities responsibilities assurance
 Error and Fraud, money providers.
laundering, Compliance 4. recognize
with law and regulations circumstances in
 Expectations gap which
 Auditors’ liabilities: professional
statutory liabilities, accountants may
contractual liabilities have legal
under Contract law, liability.
liabilities under Common 5. compare and
law, liabilities for contrast liability
professional misconduct, owed to the client
other liabilities. with liability
owed to third
 Management and Third-
parties
Party Liability
B. Internal B1. Internal U, AP,  Meaning and Categories 6. explain the 40%
control and Control E, D of Internal Control requirements and
audit  Nature and Importance implications of
framework of Internal Control effective control
(30%)  Components of internal systems
control 7. evaluate and
 Fundamental principles report on the
of effective control effectiveness and
systems efficiency of the
 Systems of Internal internal control
P a g e 119 | 158
Level of
topics weight
required
Control systems
 Weaknesses in the
internal control system.
 Communication on
Internal Control and
Management Letter
 Internal Control
Questionnaire
 IT Control
B2. Professional R, U, AP  Need for professional 8. Demonstrate the 30%

Ethics ethics ethical approach
 Code of Ethics: in carrying out
fundamental principles, the assurance
threats to Objectivity and work.
Independence,
safeguards against the
threats
 Conflict of interest and
suggested courses of
action to resolve ethical
conflicts relating to
integrity, objectivity,
independence, and
confidentiality
B3. Framework R, U, AP  Legal provisions Under 9. describe the legal 30%

and legal Companies Act, 1994: framework of the
provision appointment of auditor, Audit and
qualification, and Assurance
disqualification of an engagement
auditor, rights, and
Powers of auditors,
responsibilities, and
Duties of auditors,
qualification and
disqualification of
auditors, resignation, and
removal of auditors,
penalties
 International Framework
for Assurance
Engagements
 The International
Auditing and Assurance
Standards Board
 International Standards
on Auditing
 Role of regulators like
FRC, BSEC, ICAB, etc.
 Requirements under
P a g e 120 | 158
Level of
topics weight
required
Financial Reporting Act,
2015
 Regulatory and legal
issues relating to
financial audit
C. C1. Process of R, U,  Obtaining the 10. obtain an 80%

Assurance assurance AP, AN, Engagement understanding of
engagement engagement E, C, D  Risk Assessment (ISA the entity and its
and 315, ISA 330) environment
Reporting  Engagement Acceptance 11. identify the key
(40%) (ISA 800) concerns and
 Scope of the engagement issues in
(ISA 200, ISA 210) accepting an
 Audit Planning(ISA 300, engagement
ISA 320, ISA 520) 12. plan an audit
considering the
 Performing the
audit risk of the
engagement (ISA 710,
client
ISA 720, ISA 800)
13. understand the
 Test of Control and
underlying
Substantive procedures
provisions of the
 Obtaining evidence,
International
Sampling, and
Standards on
documentation (ISA 230,
Auditing
ISA 500, ISA 501, ISA
14. apply ISA in
505, ISA 530)
formulating
 Taking assistance (ISA
decisions in the
610, ISA 620)
assurance
 Quality Control (ISA engagement
220) 15. understand and
 Completion, Review, and outline different
Reporting: subsequent types of audit
events, going concern reports
(ISA 560, ISA 570, ISA
700)
 Written Representations
(ISA 580)
 Evaluation of results of
assurance (ISA 450)
 Audit Finalization and
Final review
 Reporting to the engaged
party
 Reporting issues (ISA
701, ISA 705, ISA 706,
ISA 710, ISA 800)
C2. Other R, U, AP  Auditor’s Responsibility 16. understand the 20%

relevant to Consider Fraud (ISA auditor’s
standards 240) responsibility as
P a g e 121 | 158
Level of
topics weight
required
 Consideration of Laws outlines in
and Regulations (ISA different ISA and
250) law
 Communication of Audit 17. treat issues
Matters (ISA 260, ISA relating to related
265) parties,
 Entities Using Service accounting
Organizations (ISA 402) estimates, and
 Initial Audit others following
Engagements: Opening ISA
Balances (ISA 510)
 Accounting Estimates
(ISA 540)
 Related Parties (ISA 550)
 Special Considerations
(ISA 600, ISA 805)
 Summary Financial
Statements (ISA 810)
on Assurance
engagements
for Review Engagements
on Quality Control
D. Auditors D1. Information U, AP,  Audit in a computerized 18. understand the 70%
role in Technology and D environment basics of audit in
emerging Information  Systems and processes in a computerized
areas Systems Audit place that secure environment.
(10%) company data. 19. identify and
 Risks associated with a manage the risks
company's information associated with
assets in the IT an IT
environment environment
 Methods of risk 20. sketch the
management fundamentals of
 Information CAAT
management processes in
compliance with IT-
specific laws, policies,
and standards
 Inefficiencies in IT
systems and associated
management
 Computer-Aided
Auditing Technique
(CAAT)
 Process of Information
Systems (IS) Auditing –
P a g e 122 | 158
Level of
topics weight
required
Planning (IS audit
standards, guidelines,
code of ethics, risk-based
audit planning) and
Execution (Performing IS
audit, reporting &
communication
techniques, quality
assurance)
D2. Public R, U  IFAC Guidelines for 21. understand the 30%

sector and public sector audit process of public
special audit  Special Audit sector audit
22. outline
requirements and
considerations in
the special audit


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Audit & Assurance. Dhaka: ICMAB
1. Saeed, K. A. (2013). Advanced Auditing. Karachi: Asianet-Pakistan
2. Tandon,B. N., Sudharsnam, S., & Sundharabahu, S. (2007). A Hand Book of Practical
Auditing. India: S. Chand Publishing
3. Gupta, K. (1999). Contemporary Auditing. India: McGraw Hill Education

1. IFAC. (2018). Handbook of International Quality Control, Auditing, Review, Other
Assurance, and Related Services Pronouncements. IAASB, IFAC
IESBA, IFAC
3. GoB. (1995). The Companies Act (Bangladesh), 1994. Ministry of Commerce: Government
of the People's Republic of Bangladesh
AUD Course Mapping

PrO1 1, 3 PO1 2 CLO1 1, 2, 3, 4, 5, 10, 11, 15
PrO2 2, 4 PO2 1, 3 CLO2 6, 7, 10, 16, 17,
PrO3 5 PO3 2 CLO3 4, 5, 9, 11, 12, 15, 16
PrO4 6 PO4 5 CLO4 12, 13, 14
P a g e 123 | 158
PrO5 4 PO5 4 CLO5 8, 11, 12
PrO6 1, 7 PO6 6 CLO6 18, 19, 20
PrO7 3, 7 PO7 7 CLO7 21, 22
Learning Outcomes
P a g e 124 | 158
Course Title:
Cost & Management Audit (CAT)

Auditing& Advanced Level Cost & Management AA253 100
Assurance II Audit (CAT)
[AA]
Syllabus Structure

A Cost Audit 50%
B Management Audit 30%
C Performance Audit 20%
Course Description
This course is divided into three major segments which cover cost audit, management audit,
internal audit, internal control, operational audit, and other related issues along with
performance audit. It starts with explaining the cost and management audit concepts & scope,
shading light on the relevant theoretical, regulatory, and management requirements. Focus is
then given to explain how auditing works to be planned, evaluated, performed, and finally
reported to the concerned authority. Ultimately, the learners of the course will understand the
process and concerns in the legal position of cost auditor, cost audit, operational audit,
performance appraisal, reporting system, internal audit, internal control, and other related
issues. This course also introduces the concept of ethics and different measures used in the audit
process. Learners of this course will be exposed to various practical exercises for mastery of the
basic cost and management accounting knowledge & skills and thus, the emphasis is given on
the applications of cost accounting and auditing standards.
Course Objectives
This course focuses on the knowledge of Cost and Management auditing to provide educational
facilities for budding professionals for excelling in the field of cost and management auditing. It
also promotes the decision-making skills and administrative competence relevant to cost &
management auditing and corporate management in general.

1. describe the conceptual and regulatory framework of cost audit in Bangladesh
2. outline and explain the cost audit process following the QCR framework
3. evaluate an entity’s organization in conducting the audit for performance optimization
4. sketch, evaluate, and comment on the requirements of effective internal control systems
5. apply the code of professional ethics in preparing and interpreting cost, management, and
operational audit reports
P a g e 125 | 158
6. illustrate the implications of information technology on auditing
7. evaluate the performance of an organization from multiple perspectives
Detailed Contents
Level of Learning
Probable
Parts Topics Study Subtopics outcomes of
weight
required topics
A. Cost Audit A1. Cost R, U  Meaning, nature, and scope of 1. describe the 15%
(50%) Audit cost audit fundamental
Concept &  Objectives and purpose of cost difference
Legal issues audit between
 Advantages and limitation of financial and
cost audit cost audit
 Financial audit vs. Cost audit 2. outline the
 The genesis of cost audit in basic
Bangladesh conceptual
and
 Companies Act, 1994
regulatory
 Cost Audit (Report) Rules, 1997
framework
 Government Gazette
of cost audit
Notification relating to Cost
Audit
 CMA Ordinance, 1977
(Ordinance No. LIII of 1977)
 CMA Regulations, 1980
 Financial Reporting Council
(FRC)
A2. Cost R, U, AP  Generally Accepted Cost 3. describe the 10%

Accounting Accounting Principles (GACAP) need foran
Standards  Code of conduct and Ethics ethical code
 Bangladesh Cost Accounting of conduct
Standards (BCAS) 4. explain the
 Guidance notes on Cost guiding
Accounting Standards principles for
 Cost Record and Audit Rules a cost auditor
5. describe the
need for cost
records and
audit rules
A3. Cost R, U,  Planning the Audit of Cost 6. outline and 35%

Auditing AP, AN, Statements explain the
Standards E  Cost Audit Documentation steps in cost
and Quality  Overall Objectives of the audit
control Independent Cost Auditor and procedures
the Conduct of an Audit in 7. build
Accordance with Cost Auditing argument
Standards favoring cost
P a g e 126 | 158
Level of Learning
Probable
weight
required topics
 Knowledge of Business, its audit
Processes, and the Business 8. ensure the
Environment QCR in Audit
 Commencement of Cost Audit
and Audit Procedures
 Guidelines of Cost Audit in
Bangladesh
 Framework of Quality Control
Review (QCR) Program
A4. Legal R, U, AP  Appointment of cost auditor 9. outline the 10%

Position of  Qualification and legal position
Cost Auditor disqualification of Cost Auditor of cost
 Rights and Powers of cost auditor
auditors 10. describe
 Responsibilities and Duties of expectations
cost auditors from a cost
 Qualities of a cost auditor auditor
 Resignation and Removal of
cost auditors

A5. U, AP,  Audit Risk Assessment 11. draft cost 20%
Reporting AN, E,  Preparation Cost audit report audit report.
under Cost C, D in compliance with statutory 12. interpret cost
Audit obligations and professional audit reports
standards
 Key points of a Cost Audit
Report
 Placement of the report to the
Management
 Finalization.
A6. Cost U, AP,  Cost Auditing in computer- 13. identify 10%

Audit in AN, E, based Environment (CBE). requirements
Information C, D  Computer-aided auditing of audit in a
Technology technique (CAAT) CBE
(IT)  IT Control and risk assessment 14. assess and
control risks
associated
with CBE
B B1. Internal U, AP,  Internal Control – Concept 15. evaluate the 40%
Management Control & AN, E  Scope and Limitation of internal
Audit Internal Internal Control control and
(30%) Audit  Structure of Internal Control internal audit
 Evaluation of Internal Control practice of a
 Internal Control and Internal client
Auditor 16. contrast
 Internal Check and Internal internal
control and
Audit
P a g e 127 | 158
Level of Learning
Probable
weight
required topics
 Internal Audit and its Scope internal
 Statutory Auditors and Internal check,
Auditors statutory
 Assessment of Adequacy of audit and
Internal Audit Function internal audit
 Compliance Audit
B2 U, AP,  Operational Audit – Technique 17. outline steps 30%

Operational AN, E, and Procedure for
Audit D  Budgetary Control System operational
 Capacity Utilization audit
 Inventory Control 18. Formulate
 Management Information recommenda
System (MIS) tions for
performance
 Business Risk Assessment and
optimization
Mitigation
 Nature and Scope of
Management Audit
 Audit of Management Process
and Functions
B3 R, U,  Corporate Culture and 19. Explain the 30%

Managemen AP, AN, Objectives basic
t Audit in E, D  Corporate Services Audit requirements
Different  Corporate Development Audit in the audit
function  Evaluation of Personnel of a specific
Development functional
 Value For Money (VFM) Audit unit
20. Describe the
 Audit of Corporate Social
role of
Responsibility (CSR) of
corporate
Management
governance
 Audit Checks of Different
and audit
Functions
committee
 Corporate
Divisions/Departments/Functi
ons
 Corporate Governance and
Audit Committee
 Business Investigations
C. C1. U, AN,  Performance Analysis 21. Evaluate the 100%

Performance Performance E, D  Suggested Mechanism for performance
Audit Audit Performance Analysis of an
(20%) Process  Steps Approach Suggested for organization
Report on Performance from
Appraisal multiple
 Indicative Contents of the perspectives
Report on Performance 22. Report on
Appraisal Performance
 Capacity Utilization Analysis appraisal
P a g e 128 | 158
Level of Learning
Probable
weight
required topics
 Productivity and Efficiency using
Analysis management
 Utilities and Energy Efficiency accounting
Analysis tools.
 Key Costs and Contribution
Analysis
 Product/Service Profitability
Analysis
 Market / Customer Profitability
analysis
 Working Capital and Inventory
Management Analysis
 Manpower Analysis
 Impact of IFRS on the Cost
Structure, Cash Flows, and
Profitability
 Management Accounting tools


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Cost & Management Audit. Dhaka: ICMAB
4. Saeed, K. A. (2013). Advanced Auditing. Karachi: Asianet-Pakistan
5. Chowdhury, D. D. (2010). Cost Audit & Management Audit. New Delhi: New Central Book
Agency

4. ICMAB. (2021). Bangladesh Cost Accounting Standards. Dhaka: ICMAB
IESBA, IFAC
6. GoB. (1995). The Companies Act (Bangladesh), 1994. Ministry of Commerce: Government
of the People's Republic of Bangladesh
7. Cost Auditing Standards
8. Companies (Cost Record and Audit) Amendment Rules, 2019
9. Cost Audit (Report) Rules, 1997
10. Government Gazette Notification relating to Cost Audit
P a g e 129 | 158
CAT Course Mapping

PrO1 1, 3 PO1 3, 7 CLO1 1, 2, 3, 4, 5, 7, 9, 10, 20
PrO2 2, 4 PO2 1 CLO2 4, 5, 6, 8
PrO3 5 PO3 4 CLO3 7, 15, 18, 19
PrO4 6 PO4 5 CLO4 15, 16, 18
PrO5 4 PO5 2 CLO5 3, 9, 10, 11, 12, 17, 18
PrO6 1, 7 PO6 6 CLO6 13, 14
PrO7 3, 7 PO7 2 CLO7 18, 21, 22
Learning Outcomes
---------0---------
P a g e 130 | 158
Governance, Laws & Taxation Pillar
The knowledge pillar, Governance, Laws & Taxation (GLT) broadly covers the areas of corporate
governance, legal environment, and the taxation aspects of the business. As a part of Initial
Learning Development (IPD), this pillar will assist the aspiring professional accountants to
develop professional competence in the subject matters, which will lead them to perform the
role of a professional accountant. It will also aid the candidates to advance professional
intellectual skills including professional values and ethics to identify, evaluate and analyze the
governance, legal, and taxation issues arising from the business environment and enable them
to apply professional judgment to solve problems, make decisions and adapt to the change.
This pillar comprises four courses, namely Corporate & Business Laws (CBL), Fundamentals of
Taxation & Public Financial Management (TPF), Corporate Governance & Secretarial Practices
(GSP), and Advanced Income Tax& VAT (ATV). The CBL course covers the major corporate and
business laws of the country that aims to provide working knowledge to the aspiring
professional accountants regarding the laws and regulations of the business environment so that
they can identify and evaluate the legal issues and make an informed decision. In the TPF
course, the taxation segment focuses on both direct and indirect taxes of the country to develop
an intermediate level of proficiency in the topic areas. Contrarily, the segment of Public
Financial Management focuses on fundamental areas of the topic to develop primary knowledge
about financial management and its process of the government of Bangladesh.
The course GSP covers the key elements of corporate governance, its theories, and the
framework to develop professional competence among the aspiring professional accountants.
Besides, this course includes essential aspects of secretarial practice so that the aspiring
candidates can able to identify and evaluate the governance issues and discharge professional
duties as Company Secretary.
Finally, this knowledge pillar contains the ATV course. This course addresses the applied aspects
of income tax and value-added tax to develop professional competence, skills, values, and ethics
among the aspiring professionals so that they can apply such knowledge to identify, analyse,
evaluate and resolve complex tax issues arising from individual and business taxation.
Pillar Objectives
On successful completion of this pillar, the aspiring professional accountants will be able to:
1. understand the regulatory requirements in the formation & operations of an
organization.
2. comment on the legal framework of direct and indirect taxes of Bangladesh.
3. assess the tax liability and outline the income tax plan for an assessee.
4. discuss and apply the provisions of Value Added Tax in determining the tax liability.
5. explain the public finance management systems of Bangladesh.
6. describe corporate governance framework, different compliance issues with regulations
and principles of secretarial practices.
P a g e 131 | 158
7. Analyse, evaluate and apply critical thinking and professional judgement for alternative
perspectives of taxation issues for tax planning, regulatory compliance and strategy
setting both for individuals and business entities.
P a g e 132 | 158
Course Title :
Corporate & Business Laws (CBL)

Governance, Laws Intermediate Corporate & LT125 100
& Taxation [GLT] Level I Business Laws
(CBL)
Syllabus Structure

A Corporate Laws 60%
B Business Laws 40%
Course Description
This course provides an essential understanding of the corporate and business laws in
Bangladesh. It gives special attention to the Companies Act, Financial Reporting Act, Bank
Company Act, Financial Institutions Act, Insurance Act, Contract Act, Negotiable Instrument
Act, Partnership Act, and the Labour Law to develop technical competence and professional
skills in the area of the legal environment of business.
Course Objectives
This course aims to provide working knowledge to aspiring professional accountants regarding
the laws and regulations of the business so that they can identify and evaluate the legal issues
and apply such knowledge to make informed decisions.

to:
1. identify and explain the laws and regulation that govern different forms of legal entities;
2. interpret the principal provisions of the company law related to separate entry,
incorporation process, capital requirement, administration, directorship, meeting, and
resolution including the winding-up process and apply the knowledge in the practical
situation;
3. explain the financial reporting authority and its functions;
4. identify the nature of banking business, insurance business, and the business of financial
institutions including the basic regulations of these specialized businesses;
5. explain different types of contracts and distinguish among various negotiable instruments
and their underlying provisions;
6. describe the nature of partnership business and demonstrate the knowledge on main
provisions of the Bangladesh Labour Law; and
7. critically evaluate the legal issues in the business environment and make informed decisions.
P a g e 133 | 158
Detail Contents
Level of
Learning outcomes of
Topics
Required
A. Corporate A1. The R, U, AP  Overview, Constitution and 1. explain the 50%

Laws Companies Incorporation: Overview of background of the
(60%) Act, 1994 Company Act and
the Companies Act, 1994;
(30%)
Documents relating to the process to
incorporate of a company incorporate a legal
(Memorandum of Association- entity.
MOA, Articles of Association- 2. describe different
AOA); Private Company; Public types of share
Company; One Person Company; capital, share
Change of MOA, AOA, Address related documents,
and Name member registrar,
 Share Capital and Registers: and share transfer
Types of share and capital issues.
(Bonus share, Right Issue, Share 3. understand and
Split); Share Certificate; Share evaluate the
Warrant; Members List, Annual management and
Summary; Transfer of Share administration
 Management and process of a
Administration: Meeting and company and
Proceedings (Annual General develop
Meeting, Statutory Meeting, administration
Extraordinary General Meeting, skills.
Board Meeting); Provision for 4. identify and
Vote; Appointment of Directors; explain books of
Duties of Directors; records to be kept
Disqualification of Directors; as per law.
Removal of Directors; Return of 5. demonstrate the
Allotment appointment
 Accounts, Audit, and process of the
Conversion: Books of Records statutory auditor.
as per the Act; Content of 6. explain the
Balance Sheet and Profit and conversion process.
Loss Accounts; Authentication of 7. demonstrate
Balance Sheet and Profit and various modes of
Loss Accounts; Appointment and winding-up of a
Removal of Auditors; Conversion company and the
of Private Company into Public procedures.
Company and Vice-Versa
 Winding-up: Mode of Winding
Up and Process (Winding up by
Court, Voluntary Winding-up -
Members and Creditors,
Supervision of Court; Official
Liquidator
P a g e 134 | 158
Level of
Topics
Required
A2. The R, U  Background and Functions 8. acquaint with the 10%

Financial of the Financial Reporting FinancialReporting
Reporting Act, Council, its
Council: Development of FRA
2015
and Purpose; Functional functions,
Divisions; Responsibilities of the regulatory
Divisions measures, and
 Offense, Punishment, and appeal procedures
Appeal: Offence and
Punishment; Appeal and
Appellate Authority
A3. The R, U, AP  Business of Banking 9. understand the 15%

Banking Companies, Capital Bank Company
Companies Acts and basic
Regulation, Directorship,
Act, 1991
Dividend, and Reserve: banking
(Amended
2013) Scope of Business; Minimum regulations.
Capital and Regulation; Appoint
and Removal of Directors and
Chief Executive Officer;
Dividend Restrictions; Reserve
Fund
 License, Loan and Advance,
Accounts and Audit and
Winding Up: Bank Company
License; Loan and Advance
Restriction; Accounts and Audit;
Suspension and Winding Up
A4. The R, U, AP  License, Capital, Credit 10. identify and 10%

Financial Facilities, Management, understand the
Institutions basic regulatory
Offence, and Punishment:
Act, 1993
Licensing of Financial requirements of
Institutions; Capital financial
Requirements; Restrictions for institutions.
Credit Facilities; Managing
Director and Chairman; Offence
and Punishment
A5. The R, U, AP  Registration, Premium, 11. explain the nature 15%

Insurance Act, Capital and Deposit, of the insurance
2010 and The business and
Accounts, Actuary, Loan,
Insurance
and Investigation: Insurance understand the
Development
and Classification; Registration principal
Regulatory Certificate, Renewal, and regulations of an
Authority Act, Cancellation; Branch Office insurance
2010 License; Premium Rates, company.
Reinsurance; Capital and 12. describe the role
Resave; Separate Accounts; and function of the
Actuary Reports; Solvency regulatory body in
Margin and Restrictions on the insurance
P a g e 135 | 158
Level of
Topics
Required
Loan; Power of Regulatory industry.
Authority
 Composition, Functions,
and Duties of the Regulatory
Authority: Composition,
Function, and Duties of
Insurance Development and
Regulatory Authority
B. Business B1. The R, U  Acceptance and Revocation, 13. understand the 25%
Law Contract Act, Void and Voidable features of a
(40%) 1872 contractbased on
Agreement, Indemnity and
Guarantee, Agency: the Contract law
Definition; Essential Elements of and define agency
a Contract; Classification of and agency
Contract; Offers and Acceptance; relationship.
Free contract; Void and Voidable
Contract; Quasi-contract;
Indemnity and Guarantee; Law
of Agency; Test of Agency;
Creating Agency;
Misrepresentation and Fraud by
Agent; Sub-agent and Co-agent;
Agent’s Right and Personal
Responsibility
B2. The R, U, AN  Notes, Bills and Cheques, 14. distinguish various 25%
Negotiable Parties, Dishonour, and types of negotiable
Instruments instruments,
Penalty: Definition and Nature
Act, 1881
of Negotiable Instrument; features, rights,
Promissory Note, Bill of and obligations.
Exchange, Cheque; Rights and
Liabilities of different Parties;
Dishonour and discharge of
negotiable instruments; Notice
of Dishonour; Special Provisions
relating to Cheques and Bills of
Exchange; Penalties in case of
dishonor
B3. The R, U, AP  Nature of Partnership, 15. understand the 25%

Partnership Relationship, Income of nature of the
Act, 1932 partnership
Partners, Dissolution,
Registration, and business and the
Penalty:Creation of underlying
Partnership; Relationship provisions.
between the Partners and Third
Party; Partnership Deed and
Registration; Retirement of
Partner, Right of Outgoing
Partner; Compulsory Dissolution
P a g e 136 | 158
Level of
Topics
Required
and Dissolution by Agreement,
Notice, and Court; Application
for Registration; Penalty for
False Information
B4. The R, U, AP  Service and Employment, 16. identify and 25%

Bangladesh Maternity Benefits, Health explain the basic
Labour Act, regulations related
and Hygiene, Safety,
2006
Working Hour and Leave, to employment,
(Amended in
2013) and The Wages and Payments, health, hygiene
Bangladesh Participation in Companies safety, and welfare-
Labour Rules, Profit and Provident Fund: related issues as
2015 Conditions of Employment, per Labour Laws
Classification of Workers, and Rules.
Service Book, Punishment;
Employment of Women Worker,
Rights of Maternity Benefits, and
Payment; Cleanliness,
Ventilation, Dust and Fume,
Overcrowding, Lighting,
Drinking Water, Latrines, Bust
Bean; Precaution in case of Fire;
Daily and Weekly Hour,
Holidays, Overtime, Casual and
Sick Leave, Annual Leave; Wages
Definition and Payment,
Deductions; Establishment of
Participation Fund and Welfare
Fund, Management of Funds,
Utilization of Participation Fund;
Provident funds for Workers


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Corporate & Business Laws. Dhaka: ICMAB
1. Hasan, K.M. (2018). The Companies Act, 1994. Liton Publication.
2. Karim, M.A (2016). Labour Laws of Bangladesh. Sufi Prokashoni

1. The Bangladesh Labour Act, 2006 (Amended in 2013) and Bangladesh Labour Rules, 2015
2. The Contract Act, 1872
3. The Negotiable Instruments Act, 1881
4. The Partnership Act, 1932
P a g e 137 | 158
5. Companies Act, 1994
6. Financial Reporting Act, 2015
7. Bank Company Act 1991, Financial Institutions Act 1993, and The Insurance Act, 2010
CBL Course Mapping

PrO1 1, 6 PO1 1, 2, 3, 4, 5, 6 CLO1 1
PrO2 1 PO2 - CLO2 1, 2, 3, 4, 5, 6, 7
PrO3 6 PO3 - CLO3 8
PrO4 - PO4 - CLO4 9, 10, 11, 12
PrO5 7 PO5 - CLO5 13, 14
PrO6 - PO6 2, 3, 4 CLO6 15
PrO7 - PO7 7 CLO7 16
Learning Outcomes
P a g e 138 | 158
Course Title:
Fundamentals of Taxation & Public Financial Management (TPF)

Governance, Intermediate Fundamentals of Tax, LT234 100
Laws & Taxation level II VAT &Public Financial
[GLT] Management (TPF)
Syllabus Structure

A Direct Taxes 40%
B Indirect Taxes 30%
C Public Financial Management 30%
Course Description
This course is designed to comprise the direct and indirect taxes of the country along with the
knowledge domain of public financial management to develop technical competence,
professional skills, values, and ethics among aspiring professional accountants. In the direct tax
segment, this course focuses on the fundamental provisions of the income tax and the gift tax so
that the candidates can develop an intermediate level of proficiency about the topics to apply the
knowledge in identification and evaluation of the given situation in a straightforward way.
Besides, this module covers the basic provisions of the Value Added Tax (VAT) and the Customs
Duties as an indirect tax to develop technical knowledge. Besides, this course includes the
fundamentals of public financial management so that the candidates can gain an elementary
idea about the financial management of the government and its process.
Course Objectives
The course aims to provide candidates with a fundamental understanding of the taxation and
financial management system of Bangladesh so that they can develop their knowledge of the
subject matters and able to identify and evaluate the implication of tax provisions and the
government’s financial management process on individuals and business entities.

to:
1. understand the concepts in issues related to the tax structure in Bangladesh;
2. determine assessable income and allowable deductions for individuals and body corporate;
3. identify the provisions relating to advance payment of tax, submission of returns, and
assessment procedures for preparation of appropriate tax strategy;
4. understand the tax administration procedures including power and authority for imposition
of penalty;
5. develop and apply working knowledge in the areas VAT as per the VAT law;
P a g e 139 | 158
6. aware of the basic concepts of the customs law, gift tax, travel tax, excise duty, and baggage
rules of the country; and
7. gain fundamental concepts of public financial management of Bangladesh.
Detail Contents
Level of
the Topics
Required
A. Direct A1. Tax R, U, E  Principles of Taxation, Taxation 1. Describe general 30%

Taxes Structure of System in Bangladesh & principles and
(40%) Bangladesh Emerging Issues in objectives of a good
and Taxation:Principles/ canons of tax system
Professional taxations; Impact, incidence and 2. Comment on the
Ethics effect of taxation; Objective of Bangladesh tax
taxation; Rights and obligations of structure
taxpayers; Scope and Structure of tax 3. Identify the current
system in Bangladesh; Current trend developments and
and recent update in taxation; ethical issues in
Potential impact of emerging issue in taxation and its
taxation potential impacts.
 Tax Administration, Power of 4. Understand the tax
Authorities, & Imposition of administration
Penalty:Appointment of Income Tax system along with
Authorities; Administrative and their roles &
Judicial Authority; Delegation of responsibilities and
powers; Appointment; Subordination; advise to remain
Power to call for information, complaint
inspection, survey, enquiry, search
and seizure; Penalty for non-
maintaining accounts, failure to file
return, fake TIN, advance tax,
concealment of income, fake audit
report and others
 Ethics and Professional
Skepticism:Ethical Behavior;
Principles of IESBA Code of Ethics;
ICMAB Code of Ethics; Threats and
Safeguard; Conflict of Interest; Tax
Avoidance and Evasion; Ethical
Conflict Resolution; Confidentiality
A2. Income R, U, AP, E,  Statutory Heads of Income, 5. Apply relevant 60%

Tax D Computation of Income Tax & provisions of tax
Assessment Set-off and Carry-Forward of law in computing
and Payment Losses: Scope of Total Income; taxable income and
Deemed Income; Statutory Heads of determining tax
Income and Tax Computation liabilities both for
(Salaries, Interest on Securities, individual and
House Property Income, Agricultural company.
Income, Income from Business or 6. describe the
Profession, Capital Gains, Other provisions related to
Sources); Non-assessable Income; set-off and carry-
Tax-free Income; Unearned and forward of losses
Earned Incomes; Domestic and and advance
Foreign Incomes; Regular and Casual payment of tax
Incomes; Income Subject to Regular 7. fill-up income tax
Tax Rate and Income Subject to return.
P a g e 140 | 158
Special Tax Rate ; Charge of Income 8. Illustrate the issues
Tax; Set-off and carry-forward of concerning income
Losses; Unabsorbed depreciation tax assessment,
 Payment of Tax before payment, and
Assessment: Understanding the consequence of
concept of Advance Tax and Tax failure
Deducted at Source (TDS); Benefits of
AT and TDS; TDS deducting
authority; TDS rates and procedure;
Consequence of failure to deduct/
collect tax source; Collection and
Payment procedures of TDS and AT to
government treasury; Minimum tax
u/s 82C; Computation and payment of
Advance Tax; Consequence of Failure
to Pay Advance Tax; Payment of tax
on the basis of return.
 Return Submission &
Assessment Provisions: Return of
Income and Withholding Tax and
Timeline; Audit of Withholding Tax;
Notice for Filing Return; Revised
Return; Statement of Assets,
Liabilities and Lifestyle; Obligation of
furnishing information regarding
salary and Return filing, interest and
dividend; Forms and templates of
various returns.; Definition and cycle
of assessment; Assessment Provisions
(Provisional assessment, Universal
Self-Assessment, Minimum Tax, Spot
assessments, Assessment after
Hearing, Best judgement assessment,
Assessment in case of income
escaping income, person leaving
Bangladesh, deceased person and
limitation for assessment)
A4. Gift Tax R, U, AP  Fundamentals of Gift Tax, Travel 9. determine tax 10%
and Others Tax, Baggage Rules and Excise liability
Duty: Gift and Scope of Gift Tax; understanding the
Exemptions; Valuation of Gift; fundamental
Imposition of Gift Tax Rates; Travel provisions of gift
Tax; Baggage Rules tax
10. describe provisions
related to excise
duty, travel tax, and
baggage rules.
B. Indirect B1. R, U  Overview of VAT System in 11. Understand the 30%

Taxes Introduction Bangladesh and Introduction to concepts of VAT
(30%) to Value VAT Law & Rules: Nature of Value and the VAT System
Added Tax Added Tax; Supply Cycle; in Bangladesh.
(VAT) Characteristics of Value Added Taxes; 12. Describe the
Consumption based Tax System; background and
Income Based Tax System; Indirect potentials of new
Tax & Direct Tax; History of Value VAT law of the
Added Tax; Introduction of VAT country.
System in Bangladesh; Success of 13. Explain the
Bangladesh VAT System in Revenue registration and
Collection; Function of VAT System; enlistment
P a g e 141 | 158
Variants of Value Added Tax; Theory provisions.
of Value Added Taxes; VAT Chain;
VAT Imposition; Tax Rate; VAT
Exemption; HS Code & Service Code
in VAT; Time of Payment of VAT;
Input Credit System; Self-Assessment
Procedure; VAT Accounting and
Auditing; Return Submission;
Deviation of VAT System in
Bangladesh; Introduction of VAT
Law-2012 & Rule-2016; Difference
between the VAT Act 1991 and VAT &
SD Act 2012; Advantage of New VAT
& SD Act 2012.
 Registration and Enlistment:
VAT Registration; Registration
Threshold; Enlistment Threshold;
Type of Registration (Central VAT
Registration Vs Unit Registration);
Persons to Be Registered /Enlisted;
Mandatory Registration; Use of
Business Identification Number
B2. VAT U, AP, E, D  Imposition of VAT, VAT 14. Describe VAT 50%
Assessment, Collection System and Input Out imposition
Filing, and Co-efficient: Imposition VAT in procedures and its
Record Different Stage; Output Rate; Persons collection system
Keeping Liable to Pay VAT; Zero Rated Goods 15. Explain VAT Return
/Service Supply VAT; Manner of VAT and its filling
Collection; VAT on Import; Advance procedures.
Tax (AT); Calculation of VAT, SD, RD, 16. Describe books of
AT And AIT At Import Stage; Net VAT records under VAT
Calculation; The Input Output Co- laws and its
Efficient; Importance of Input Output importance.
Co-efficient;
 VAT Return: Type of Return;
Submission/Filing of Return; Output-
Supply; Input-Purchase; Increasing
Adjustment; Decreasing Adjustment
 Record Keeping and Accounting
in VAT: Importance of Record
Keeping In VAT; Obligation & Record
Keeping; Types of Records; Mushak
Forms and its Practical Application;
VAT Accounting and Payment
Procedures; Dual accounting System
in VAT Law.
B3. Customs R, U, AP  Basics of Customs Tax: Objectives; 17. Explain various 20%
Tax, and Prohibited Goods; Regulatory Duty; provisions of
Others Countervailing Duty; Antidumping customs duty and
Duty; Safeguard Duty; Valuation for its implications.
Import Duty; Assessment; Duty
Drawback; Bonded Warehouse; World
Customs Organization (WCO); World
Trade Organization (WTO); Excise
Duty
C. Public C1. Basic R, U, E  Definition and objectives of PFM 18. Understand basic 35%
Financial Concepts of  Attributes of a good Financial concepts of PFM
Management PFM Management system with its objectives
P a g e 142 | 158
(PFM)  Key processes of Public Financial and attributes.
(30%) Management System (Macroeconomic 19. Explain the key
forecasting, Budget preparation, processes associated
Budget Execution, Accounting and with PFM.
Fiscal reporting, Cash Management,
Debt management, Revenue
Administration, Auditing);
 Broad understanding of the key
processes
 Issues associated with PFM
 Constitutional Mandate and Laws on
PFM
 Types of Government Entities
 Responsible Authorities Engaged in
PFM
 Responsibilities of the Authorities
Engaged in PFM
 Committees of Parliament Members
on PFM
 Background to the PFM Strategy
2016-21
C2. Economic R, U  History of Development Planning in 20. Describe 15%

Planning in Bangladesh development
Bangladesh  Perspective Plan of Bangladesh (2010- planning of
2021): Making Vision 2021 a Reality Bangladesh and its
 Priorities of Vision 2021 key insights.
 Seventh Five Year Plan Targets
 SDG and Seventh Plan
 Annual Development Program
 Vision 2041
C3. R, U  Budget and its Dimensions 21. Explain conceptual 15%

Mobilization  Budget Classification: Why It Is and regulatory
of Financial Important; 13-digit Classification framework of
Resources Structure & its limitation government
 New Classification Structure budgeting in
 Benefits of New Classification Bangladesh.
 Medium Term Budget Framework 22. Understand the
budgeting
 MTBF Approach
approaches use by
 Regulatory Framework of Budget
various department
 Public Moneys and Budget
of government.
Management Act, 2009
 External Aid, Loans
 Foreign Aid and Budget Accounts
(FABA)
C4. U, E  Legal Framework of Public 23. Describe the legal 20%

Management Procurement- Salient features of the framework of public
and PPA 2006 and the PPR 2008 procurement in
Execution of  Budgeting and Accounting Bangladesh
Public Classification System (BACS) 24. Understand various
Expenditure  Integrated Budgetary and Accounting public procurement
System (iBAS++) reforms and
 Supplementary Rules (SR) DIMAPPP.
 Management of Public Procurement-
Key risks in public procurement and
mitigation
 Procurement Management under
P a g e 143 | 158
Public Private Partnership (PPP)
 Public Procurement Reform Project II
(PPRP-II)
 Digitizing Implementation Monitoring
and Public Procurement Project
(DIMAPPP)
C5. Supreme U, E  Institutional Models of Supreme Audit 25. Explain and 15%
Audit Institutions; Comptroller and Auditor evaluate the
Institution General (C&AG) of Bangladesh auditing procedures
(SAI) of  Authorities and Responsibilities of in public sector of
Bangladesh C&AG Bangladesh
 Audits of SAI 26. Evaluate the
 International Public Sector institutional model
Accounting Standards (IPSAS) of SAI
 International Organization of 27. Describe
Supreme Audit Institutions different types of
(INTOSAI) audit and usefulness
of audit report.
 International Standards of Supreme
Audit Institutions (ISSAIS)
 Asian Association of Supreme Audit
Institutions (ASOSAI)
 Public Expenditure and Financial
Accountability (PEFA)
 Public Access to the Information of
PFM


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Fundamentals of Taxation & Public Financial
Management. Dhaka: ICMAB
1. Shil, N. C., Masud, M. Z., & Alam, M. F. (2020). Bangladesh Income Tax: Theory and
Practice. Shams Publications.
2. Rauf, A. (2019). Shahoj Vasai Notun VAT Ain. Liton Publication.

3. Adhikary, L.A. (2019). Income Tax Manual (Part 1 and 2). Supreme Prakashani.
4. The income tax ordinance, 1984.
5. Income Tax Manual by Lal Bahadur Adhikary (latest Edition)
6. Value Added Tax & SD Act 2012(Updated)
7. Value Added Tax & SD Rule 2016(Updated)
8. GoB. (2016). Public Financial Management (PFM) Reform Strategy 2016-2021. Ministry of
Finance: Government of the People’s Republic of Bangladesh
9. Cangiano, M., Curristine, T., &Lazare, M.(2013).Public Financial Management and Its
Emerging Architecture. Washington: International Monetary Fund
P a g e 144 | 158
10. ADB. (2018). Public Financial Management Systems—BangladeshKey elements from
financial Management Perspective. Asian Development Bank
TPF Course Mapping

PrO1 - PO1 - CLO1 1, 2, 3
PrO2 2, 4 PO2 1, 2, 4, 6 CLO2 4, 5, 6, 7
PrO3 - PO3 3, 4 CLO3 6, 7, 11
PrO4 - PO4 5 CLO4 2, 7, 10
PrO5 7 PO5 - CLO5 10, 11, 12, 13, 14, 15
PrO6 - PO6 - CLO6 8, 9, 16
PrO7 3 PO7 3 CLO7 17, 18, 19, 20, 21, 22, 23, 24, 25, 26
Learning Outcomes
P a g e 145 | 158
Course Title:
Corporate Governance & Secretarial Practices (GSP)

Governance, Laws & Advanced Corporate Governance & LT344 100
Taxation [GLT] Level I Secretarial Practices
(GSP)
Syllabus Structure

A Corporate Governance 70%
B Secretarial Practices 30%
Course Description
The course describes the key elements of corporate governance, its theories, and framework to
develop professional skills among the aspiring professional accountants with the notion of
corporate governance and its importance in an organizational setting. Besides, this course
explains the essential aspects of secretarial practice to the practical application of the secretarial
functions within an organization to ensure good corporate governance practice.
Course Objectives
This course aims to develop a sound understanding of corporate governance aspects relating to
shareholders, the board of directors, management, and other stakeholders of organizations,
putting the focus at the national and international levels. Besides, this course intends to develop
the essential knowledge, professional judgment, and skills involved in secretarial practice so that
it helps the candidates to identify and evaluate the governance issues and discharge regulatory
compliances as a company secretary.

to:
1. identify and explain the conceptual framework of corporate governance;
2. evaluate and appraise appropriate corporate governance mechanisms;
3. identify the role that governance plays in corporate social responsibility and sustainability;
4. recognize and evaluate the relationship among governance, management, and internal
control;
5. identify and describe the role and authority of the company secretary to carry out secretarial
functions;
6. recognize the functions of the company secretary to carry out the professional
responsibilities;
7. identify and evaluate critically the corporate governance issues as a company secretary and
advise the board for compliance.
P a g e 146 | 158
Detail Contents
Level of
Topics Weight
Required
A. A1. U, AP,  The Concept of ‘Corporate Governance 1. explain the 15%

Corporate Conceptual AN, E (CG)’ and its Essential Principles concept of
Governance Framework of (Meaning & Definition of CG, Need for ‘Corporate
(70%) Corporate CG, Elements & Scope, Essential Governance’
Governance Principle, Perception of Good CG, Cost focusing on the
of Corporate Governance, Benefits of importance and
Good CG, Distinguishing Corporate elements of good
Governance with Corporate governance.
Management, Approaches to 2. Build arguments
Corporate Governance, External and based on CG
Internal Pressures for Sound theories for
Corporate Governance) practicing good
 Corporate Governance Theory and its corporate
Developments governance
 Theoretical Aspects of Corporate 3. analyze and
Governance (Theories associated with evaluate corporate
the development of CG, Agency governance failure
theory, Stakeholder theory, and identify the
Stewardship theory, Resource current trends
dependency theory)
 Development of Corporate Governance
Codes (Corporate Governance in the
UK, Cadbury Report, OECD Principles
of CG, World Bank, Global Corporate
Governance Forum (GCGF), EU &
Corporate Governance, Basle
Committee, US Corporate
Governance, Sarbanes-Oxley Act
2002)
 Cases in Corporate Governance Failure
and Current Tend and Issues.
A2. Corporate U, AP, E,  Board of Directors (BoDs) & 4. Understand the 50%
Governance D Leadership (Formation of Board of implications of
Mechanism Directors, Size of the Board of appointing
Directors, The Role of the Board of different directors
Directors, Types of BoDs, Unitary 5. Explain the
Board, Two-tier Board, Structure of necessity of
the Board of Directors, Executive women
Directors, Non-Executive Directors, representation in
Shadow Directors, Alternate Director, the Board
Independent Director, Women 6. Describe various
Representation in the Board of governance
Directors, Power & Duties of perspectives like
Directors, Proceedings of Directors, succession
Director Evaluation, Maintenance of planning, ethics,
Books of Accounts & Audit, Director’s compliance, and
Training, Development & capital plan.
Familiarization) 7. Identify and
 Effectiveness of the Board of Directors explain the types
P a g e 147 | 158
- Responsibilities and Authorities of of board’s
the Board of Directors (The Key committees with
Position, The Chairman, Managing their role and
Director & CEO, The Company responsibilities.
Secretary); 8. Understand the
 Appointment of Managing Director; concept of
 The duality of Chairperson of the BoDs minority interest
and Managing Director or CEO; and the role of
 Meeting of the BoDs; shareholders
 The requirement to attend BoDs
Meeting of MD or CEO, CS, CFO &
Head of Internal Audit & Compliance;
 Code of Conduct in Conformity with
the ‘National Integrity Strategy’;
 Succession Planning;
 Ethics & Compliance;
 Capital Plan;
 Related Party Transaction;
 Website Management;
 Governance of the Board of Directors
of the Subsidiary Company
 Committees of the Board of Directors:
Executive Committee (EC)
(Constitution of EC, Role and
Responsibilities of EC, Meeting of EC);
Audit Committee (AC) (Responsibility
to the Board of Directors, Constitution
of the AC, Chairperson of the AC,
Meeting of the AC, Role of AC,
Reporting of the AC); Nomination and
Remuneration Committee (NRC)
(Responsibility to the Board of
Directors, Constitution of NRC,
Chairperson of NRC, Meeting of the
NRC, Role of the NRC)
 Relations with Shareholders
(Members) - Concept of Minority &
Majority; Equitable treatment of
Shareholders; Protection for Minority
Interest; Rights and Powers of
Shareholders; Role of Institutional
Investors
A3. Corporate U, AP  Meaning of CSR 9. Demonstrate the 10%

Social  Why CSR? role of corporate
Responsibility  Key Stakeholders of CSR governance to
(CSR) and  Factors influencing CSR promote corporate
Corporate  Triple Bottom Line Approach social
Sustainability responsibility and
 CSR vs Philanthropic Activities
sustainability.
 Concept of Corporate Sustainability
10. Critically evaluate
 Reputation Risk of Board of Directors
the concept of
(BoDs)
sustainable
 The vested interest of Stakeholders in
development
Sustainability
focusing on the
 Reporting to Stakeholders on global
Sustainability environmental
 Global Reporting Initiative (GRI) and social aspects.
 Integrated Reporting
A4. Risk U, AP, D  Concept of Risk 11. Describe the 15%
P a g e 148 | 158
Management  Enterprise Risk Management (ERM) notion of 'risk' and
and its Framework the ERM as a
 Risk Management Committee and policy framework
Meeting for the
 Roles and Responsibilities of RMC management of
 Risk Management Objectives risk.
 Risk Management Principles and 12. illustrate the risk
Policies management
process using the
 Board’s Oversight on Risk
appropriate
Management
technique
 Steps in the Risk Management Process
 Risk Mitigation Strategy
 Risk Governance at Management level
 Disaster Recovery Plans
 Risk Appetite Statement
 Comprehensive Risk Management
Report
A5. Internal U, AP  Meaning of Internal Control 13. Develop the 10%

Control  Objectives of Internal Control working
 Elements of Internal Control knowledge of
 Limitations of Internal Control internal control to
 Board of Directors' responsibility to IC performing the
supervisory and
 Adequacy of Internal Control
monitoring role
 COSO Model of Internal Control
 Whistle Blowing Policy
 Insider Trading
 Conflict of Interest
B. B1. The Role U, AP  Need for the importance of Company 14. Explain and 35%
Secretarial and Authority Secretary understand the
Practice of Company  Qualifications of a Company Secretary role of the
(30%) Secretary  Independence of Company Secretary company secretary
 Appointment of Company Secretary for good corporate
 General Provisions governance
Describe the
 Developing Corporate Governance
functions of
Policies and Best Practices
company secretary
 Legal & Organizational support of the
for ensuring good
Board of Directors (BoDs)
governance.
 Protecting Shareholder Rights
 Disclosures and Transparency
B2. Board of R, U, AP  Board of Directors: Meaning & Types 15. Illustrate the 15%
Directors and of Directors as per Company Act, 1994; functions
BoardProcesse Consent of Director; Appointment of conducted by the
s Directors; Restrictions on company secretary
appointment; Removal of Director; related to Board of
Retirement & Rotation of Director; Directors.
Qualification of Share; 16. Identify the
Disqualification; Vacation of Office of process of board
Director; Loan to Director; Director and role of
not to hold the office of Profit; secretary for
Conflicts of interest; Penalties; maintaining good
Offences governance.
 Board processes: Convening a
Meeting; Frequency of Meeting;
Quorum; Attendance at Meetings;
Chairman; Passing of Resolution by
Circulation; Minutes; Preservation of
P a g e 149 | 158
Minutes and other records; Share
Transfer and Transmission;
AGM/EGM; Meeting through
Tele/Video Conferencing
B3. Statutory U, A  Appointment 17. Identify the 15%

Auditors  Removal procedures to
 Remuneration appoint statutory
 Approval auditor and role of
 Scope of Audit company
secretary.
 Duties and Rights of Auditors
B4. Corporate U, A & D  National Integrity Strategy 18. Outline the 15%
Compliance  Corporate Governance Code issued by applicable laws
BSEC related to
 Money Laundering Prevention Act, governance
2012
 Listing Regulations, 2015
B5. Corporate U, E  Director’s Report as per Company Act, 19. Identify and 20%
Reporting 1994 evaluate the
 Disclosure on Price Sensitive reporting
Information (PSI) requirements for
 Reporting on Shareholding as per compliance and
Listing Rules good governance.
 Disclosure on the appointment or
reappointment of Directors
 Declaration or certification by the CEO
and the CFO to the Board on Financial
Statements for the Year ended
 The Report as well as certificate
regarding compliance conditions of
Corporate Governance Code
 Submission of return to RJSC&F
 IPO issue in accordance with
Bangladesh Securities and Exchange
Commission (Public Issue) Rules, 2015


Primary Textbook
ICMAB. (2021). ICMAB Learning Manual for Corporate Governance and Secretarial Practice.
Dhaka: ICMAB
1. Mallin, C. A. (Ed.). (2011). Handbook on International Corporate Governance: Country
Analyses. Edward Elgar Publishing.
2. Lipman, F. D., & Lipman, L. K. (2006). Corporate Governance Best Practices: Strategies for
Public, Private, And Not-For-Profit Organizations. John Wiley & Sons.
3. Du Plessis, J. J., Hargovan, A., & Harris, J. (2018). Principles of Contemporary Corporate
Governance. Cambridge University Press.
P a g e 150 | 158
1. Plessis, J. J., Hargovan, A., Bagaric, M., & Harris, J. (2018). Principles of Contemporary
Corporate Governance. Cambridge University Press
2. Mallin, C. A. (2010). Corporate Governance. Oxford University Press
3. Money Laundering Prevention Act, 2012
4. Corporate Governance Code. Bangladesh Securities & Exchange Commission
5. The Companies Act, 1994
GSP Course Mapping

PrO1 1, 6 PO1 1, 5 CLO1 1, 2, 3
PrO2 1 PO2 - CLO2 4, 5, 6, 7, 8
PrO3 6 PO3 - CLO3 9, 10
PrO4 - PO4 - CLO4 11, 12, 13
PrO5 7 PO5 - CLO5 14
PrO6 - PO6 1, 2, 3, 7 CLO6 14, 15, 16
PrO7 - PO7 3, 4, 5, 6 CLO7 17, 18, 19
Learning Outcomes
P a g e 151 | 158
Course Title:
Advanced Income Tax & VAT (ATV)

Governance, Laws Advanced Advanced Income LT454 100
& Taxation [GLT] Level II Tax & VAT (ATV)
Syllabus Structure
Segment Title Weight

A Advanced Income Tax 50%
B Advanced Value Added Tax (VAT) 50%
Course Description
This course is designed comprising the advanced aspects of the income tax law and the value
added tax to develop professional competence among the aspiring professional accountants so
that they can apply the technical knowledge of the topic areas, professional skills, values, and
ethics to identify and resolve complex taxation issues that raise from individual and business
taxation. In the segment of advanced income tax, the course focuses on ascertaining income tax
liability and compliance requirements of persons including individuals, companies, and
partnership firms to develop a thorough knowledge so that the aspiring professionals can apply
such knowledge and skills for tax planning, regulatory compliance and strategy setting both for
corporate and personal taxpayers. Likewise, the advanced VAT covers the areas of VAT
imposition, assessment, deduction at source, return submission, audit and investigation, offense
and punishment, administration including appeal and revision so that the aspiring professionals
can able to adhere to VAT regulations and apply such knowledge to address various VAT issues
arising from different types of businesslike trading, importing, manufacturing, and service
enterprises.
Course Objectives
The course aims to provide the aspiring professional candidates a thorough understanding
regarding the income tax and VAT laws of the country so that they can able to develop
professional competence and skills on the subject matters and can apply critical thinking with
professional judgment to identify and evaluate the alternative aspects of taxation issues for tax
planning, compliance and strategy setting both for individuals and corporate entities.

to:
1. determine tax liability for individuals and partnership firms and able to address complex tax
issues arising from individual and partnership assessment;
P a g e 152 | 158
2. determine corporate tax liability and able to address complex tax issues arising in corporate
transactions;
3. demonstrate the assessment and appeal procedures in the taxation process;
4. explain the process of VAT assessment, computation, and payment of VAT as applicable on
different types of business including VAT administration, offense, punishment, and appeal
procedures;
5. discuss the provisions related to VAT deduction at source
6. evaluate and comment on the issues relating to international tax planning
7. analyze, evaluate, and apply critical thinking and professional judgment for alternative
perspectives of taxation issues for tax planning, regulatory compliance, and strategy setting
both for individuals and business entities.
Detail Contents
Level of
Learning Outcomes of the
Topics
Required
A. A1. Income Tax R, U, AP,  Scope and Source of Total Income 1. analyse the individual’s 30%
Advanced Profile of AN, E, D of an individual (salary, interest on profile, sources of
Income Individuals securities, house property income, income, and deductions
Tax and Individual agricultural income, capital gain – to identify, evaluate and
(50%) Tax Planning sale of land, sale of flat, sale of recommend possible tax-
share; income from other sources, planning
salary, commission, interest opportunities.
income from partnerships, income 2. design salary structure to
of spouse, foreign income) avoid tax burden.
 Non-assessable income 3. identify compliance
 Tax credit income or investment requirements and risks
allowance for non-compliance or tax
 Deduction of tax at source evasion for individuals.
 Tax rebate calculation based on 4. prepare suitable advice to
individual income individuals with
interpretation based on
 Personal tax structure
underlying calculation.
 Tax rates - male-female, senior
citizen, Freedom Fighter,
Physically Challenged People
 Implication of Resident and Non-
resident Status
 Individual Tax Planning – Tax
Avoidance, Tax Evasion,
Investment Credit; Design of
Salary Structure
 Salary Tax Certificate
 TDS Challan
 Minimum Tax
 Tax Refund
 Filling Income Tax Return for
Individual
A2. Income R, U, AP,  Scope and Source of Total Income 5. analyse the corporation’s 30%
Tax Profile of AN, E, D of Company (Income from tax profile in
Body Business or Profession, Other reconciling accounting
Corporate and Income, Capital Gain, Allowable income to taxable
Corporate Tax deductions, Inadmissible income.
P a g e 153 | 158
Planning expenses, methods of accounting, 6. evaluate and advise on
depreciation allowance) tax strategies to meet
 Accounting Income vs Taxable business objectives.
Income 7. advise on alternative tax
 Tax rebate for corporate treatments in a given
organizations scenario.
 Condition of exemption and tax 8. identify compliance
rebate on CSR related expenditure requirements and risks
 Charge of minimum tax; Charge of for non-compliance or tax
surcharge evasion for companies.
 Charge of additional tax;
 Unexplained investment or
expenditure deemed as income
 Stock dividend tax
 Retained earnings, reserve and
surplus tax; Difference between
business loss and unabsorbed
depreciation
 Tax holiday income
 Various Corporate Tax Rate
 Computation of Income at reduced
rate
 Provident Fund
 Computation of Income of Bank
and Insurance
 Corporate Tax Planning
 Tax Avoidance
 Tax Evasion
 Advance Payment of Tax
 Source Tax Deduction
 Compliance Requirements, and
Penalty for Non-compliance
 Tax Governance, Control and
Corporate Reporting
 Filling Income Tax Return for
Companies
A3. Income U, AP,  Partner and Partnership 9. analyse the partnership 10%
Tax Profile of AN  Special provision for assessment of firm’s tax profile to
Partnership a firm identify,
Business & Tax  Procedures of assessment of Firm evaluate and recommend
Planning and partners possible tax-planning
 Set-off and Carry-forward of opportunities
Firm’s Losses 10. identify legitimate tax
 Share of Spouse or Minor Child planning measures to
minimise tax liability of
 Computation of Partner’s Share of
partners.
Profit or Loss
A4. U, AP,  Individual assessment 11. understand the 20%

Assessment, AN, E (Assessment procedures under requirement of filling
offence & Universal Self-Assessment, income tax return and
Appeal Assessment after Hearing, procedures for tax
Acknowledgement Receipt, assessment.
Income Tax Certificate, Best 12. evaluate and analyse the
Judgement Assessment) assessment order and
 Company assessment (Assessment advise possible
procedures under Universal Self- alternatives if aggrieved.
Assessment, Assessment after 13. understand the appeal
Hearing, Acknowledgement procedures and advise on
P a g e 154 | 158
Receipt, Income Tax Certificate, merit of the assessment
Assessment Order – IT 88, Tax and appellate order.
Computation – IT 30 and Demand 14. explain the offence and
Notice – IT 15, Best Judgement penalties for non-
Assessment, Assessment u/s 82C) compliance.
 Imposition of penalty, Offences
and Prosecution
 Appeal procedures for First
Appeal, Second Appeal and
Reference to High Court Division
and Reference to Appellate
Division
 Alternative Dispute Resolution
(ADR)
A5. R, U, AP  Transfer pricing 15. understand the concepts 10%

International  Computation of Arm’s Length of transfer pricing.
Tax Planning Price 16. apply the concept of
 Statement International arms’ length price in
Transactions calculating income.
 Penalty for Non-Compliance 17. identify instance and
 Double Taxation, Double Tax procedure for transfer
Avoidance Agreement (DTAA) pricing compliance.
18. recognise the
 Implications of DTAA
implications of double tax
 Relief in respect of Income Arising
treaties, and advise on
outside Bangladesh
double taxation relief
 Methods of Avoiding Double
Taxation
 Introduction to Tax Havens
 Anti-Tax Haven Policy
 Tax Planning Strategies of
Multinational Groups
B. B1. VAT U, AP  Preparation of Input Output Co- 19. demonstrate the process 20%
Advanced Imposition & efficient (Mushk_4.3) for of VAT imposition and
Value Collection, Manufacturing and Commercial collection including SD
Added Tax Supplementary Importer, Traders and Turnover Tax.
(VAT) Duty (SD) and  Fair market Value and it’s
(50%) Turnover Tax Different Valuation method;
 VAT Imposition
 VAT Agent for Non residence
person
 VAT on reverse charged to
recipient
 Zero Rated Goods Goods/Service
Supply
 VAT on Supply of goods and
service under international Tender
 VAT, SD, Turnover Tax Collection
Method
 Export for re-import; Import for
re-export
 Advance tax (AT)
 Refund of advance tax
 Determination of value of taxable
supply
 Declaration of the value of supply
 Time of payment of VAT
 Sale of running business
P a g e 155 | 158
VAT determination in cancelled
transaction
B2. VAT R, U, E  Procurement provider under VDS 20. identify the transaction 10%
Deduction at  VDS in case of payment through on which VDS is
Source (VDS) local letter of credit against service applicable and its rate.
 VDS Against import of service 21. describe the process of
from outside the geographical area VDS and its deposit.
of Bangladesh 22. evaluate and advise to
 Deduction of VAT at source in case remain complaint.
of miscellaneous fees, royalty,
charge, etc.
 Deposit of withheld VAT by the
VAT registered withholding entity;
 Depositing code
 Content of treasury challan (T.R.
form No.-6) for VDS
 To do by the accounts Officer for
VDS
 Timeline for issuing certificate to
the supplier
 Decreasing adjustment by the
supplier
 Interest for non-deduction of VAT
at source
 Personal penalty for non-deposit
of withheld VAT
Penalty for non-issuance of VDS
certificate by the withholding
entity & Law clauses
B3. Net Tax U, E  Input 23. understand and evaluate 20%

Assessment  Input Tax Credit area of net tax
and Payment  Turnover Tax assessment and payment.
 Input Tax and Input Tax Paid on
Import
 Output Tax
 Adjustments
 Input Tax Credit-Conditions
 Input Tax Credit Not Allowed
under Certain Circumstances
 Partial Input Tax Credit
 Net tax Assessment
 Negative Balance
 Documents Required for Input
Tax Credit
 Penalty for Non-Compliance
 Ex-Current Account Balance
 Ex-Current Account Balance
Adjustment
Net Tax Payable-Calculation after
Input Tax Credit
B4. Return U, E  Model Vat Return 24. describe VAT return, its 20%
Submission,  Tax Base & Determination of filling procedure,
Carry forward Assessable Value for VAT submission, carry
and Refund  Different Kinds of Value forward of VAT and the
 Declaration & Calculation of refund system.
Value; Carry Forward & Refund
P a g e 156 | 158
 Total Payable Output Tax (Vat) &
SD
 Application of The Refunded
Money
 Vat Refund & Procedure of Refund
Duty Drawback & Function of
DEDO
B5. VAT at U, AN  Tax Liability 25. analyse practical insight 10%

Import,  Value Addition of VAT in the areas of
Manufacturing  Vat-Able Products and Services import, manufacturing,
, Service and  Vat Exemption & Tax Rate service, trading and
Trade Point  Turnover Tax export.
 ECR, EFD, SDC & Advance VAT
 Value Calculation & Payment of
Tax
 Excise Duty & Obligation of VAT
Unit
 VAT on Banking & Insurance
Sector, Hotel, Restaurant,
Construction Firms and Building
Developer
AVT System on Export and
Deemed Export
B6. Tax R, U  Tax Determination; 26. identify the VAT 10%

Determination,  VAT Authority; authority and their
VAT Authority,  Notice & Record; functions.
Notice, Audit &  Audit by VAT Department;
Investigation, Audit by Professional Accountant;
Arrear VAT Recovery of Arrear VAT
Recovery
B7. Offence, R, U, AP  Offences and Penalty Under VAT 27. understand offence, trail 10%
Trail, Act and punishment.
Punishment,  Offences for Adjudication Describe appeal, revision
Appeal,  Power of Adjudication and other issues.
Revision &  Imposition of Penalties
Miscellaneous  Adjudication and Appeal
 Adjudication Procedure
 Trial by Special Judge
 Appeal procedure
 Alternative Dispute Resolution
(ADR)
 VAT Consultant
 VAT Agent
 Replying of Departmental Notices
Under VAT Act-A Sample cases
 Operation of VAT Portal-A
Walkthrough
VAT Computerization


Primary Textbook
P a g e 157 | 158
ICMAB. (2021). ICMAB Learning Manual for Advanced Income Taxation & VAT. Dhaka:
ICMAB
1. Shil, N. C., Masud, M. Z., & Alam, M. F. (2020). Bangladesh Income Tax: Theory and
Practice. Shams Publications.
2. Rauf, A. (2019). Shahoj Vasai Notun VAT Ain. Liton Publication.

1. Adhikary, L.A. (2019). Income Tax Manual (Part 1 and 2). Supreme Prakashani.
2. The income tax ordinance, 1984.
3. Income Tax Manual by Lal Bahadur Adhikary (latest Edition)
4. Value Added Tax & SD Act 2012(Updated)
5. Value Added Tax & SD Rule 2016(Updated)
ATV Course Mapping

PrO1 1 PO1 1, 2 CLO1 1, 2, 3, 4, 9, 10
PrO2 1, 2, 4 PO2 1, 2, 3, 4 CLO2 5, 6, 7, 8,
PrO3 - PO3 1, 2, 6, 7 CLO3 11, 12, 13, 14
PrO4 - PO4 4, 5 CLO4 19, 20, 21, 22, 23, 24, 25, 26, 27
PrO5 7 PO5 - CLO5 20, 21, 22
PrO6 - PO6 - CLO6 15, 16, 17, 18
PrO7 3 PO7 7 CLO7 1, 2, 3, 4, 7, 10, 18
Learning Outcomes
----------0---------
P a g e 158 | 158

CMA 2021 Syllabus

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

CMA 2021 Syllabus

Uploaded by

Copyright:

Available Formats

CMA Professional Program

Cost & Management

Financial Accounting &

Information Technology &

Audit & Assurance

Governance, Laws &

Table 1 & 2: Course at different Levels of CMA Professional Program

FR 111 Fundamentals of Financial Accounting FFA FACR 100

TA 112 Business Quantitative Analysis BQA ITBA 100

CM 121 Cost Accounting COA CMA 100

CM 341 Strategic Cost Accounting SCA CMA 100

Knowledge Pillar Level Course Title Course Code Total Marks

Segment Segment Title Weight (%)

Course Learning Outcomes

A. Cost A1. Introduction to R, U  Definition of Cost 1. understanding 25%

A2. Bangladesh Cost R, U, AP  Bangladesh Cost Accounting 3. illustrate the 35%

B. Elements B1. Costing of AP, AN,  Classification of 6. decide 25%

C3. Service costing U, AP  Distinguishing features of 16. determine cost 10%

C7. Activity-based- R, U  Outline of an ABC system 22. understands 10%

D. D1. Nature of cost R, U,  Characteristics of 24. analyze new 40%

Here, R = Remembering,U=Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =

Recommended books and Learning Materials

Recommended Text Book

Reference Books/Other Learning Materials

COA Course Mapping

PrOs POs POs CLOs CLOs TLOs

Knowledge Pillar Level Course Title Course Code Total Marks

Segment Segment Title Weight (%)

Course Learning Outcomes

A. A1. R, U  Branches of accounting 1. understand the 50%

B. Short-term B1. Absorption U, AP,  Introduction to marginal 5. evaluate and 10%

B2. CVP U, AP,  Contribution margin 7. make short term 15%

B4. U, AP,  Product/customer/distributio 11. understand and 10%

B6. U, AP,  Organization structure and 15. prepare segment 15%

B.7Quantitativ R,U,AP  Linear Programming 18. Understand 15%

D. D1. U & AP  Introduction to EMA 27. Environmental and

Here, R = Remembering, U= Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =

Recommended books and Learning Materials

Recommended Text Book

MAC Course Mapping

PrOs Pos POs CLOs CLOs TLOs

Knowledge Pillar Level Course Title Course Code Total Marks

Segment Segment Title Weight (%)

Course Learning Outcomes

A. Strategy, A1. R, U  Management accounting 1. understand the link 30%

A2. Strategy, U,  Concept of strategy 3. recognize SCM as a 70%

B2. Target U, AP, AN  Underlying philosophy of 7. identify the factors 15%

B3. Quality R, AP, AN  Cost of quality models 9. describe the 15%

B4.Life-cycle U, AP, AN  Concept of LCC 11. identify the 15%

B5. Value AP,C, D  Fundamentals of VCC 13. identify the 15%

B6. Competitor R, U, AP,  Fundamentals of CCA 15. identify and 15%

B7. Attribute U, AP, AN  Identification of product 17. recognize product 10%

C. Cost C1. JIT AP, E, C  Concepts of 19. identify the 50%

C2.Total R, AP,  TQM: fundamentals, 22. recognize the 35%

D. D1. R, AN, E,  Concepts of 25. explain the 50%

D2. Cost R, AP, C,  Underlying 27. sketch out a typical 25%

D3. R, AN, E,  Concept of Sustainability 28. recognize the 25%

Here, R = Remembering, U = Understanding; AP = Applying; AN = Analyzing; E = Evaluating; C = Creating; D =

Recommended books and Learning Materials

Reference Books/Learning Materials

SCA Course Mapping

PrOs POs POs CLOs CLOs TLOs

Course Learning Outcomes