Part-2: The Organizational Part

About ICMAB: The Institute of Cost and Management Accountants of Bangladesh

(ICMAB) is the national body of the professional Cost and Management Accountants of
Bangladesh. Established with the prime objective of promoting and regulating the Cost
and Management Accounting profession in the country, the Institute offers education and
training to the students interested to pursue career in this field and provides highly
recognized CMA degree on fulfillment of requisite qualification. The Institute undertakes
research in relevant fields and is the sole authority to issue practicing license to its

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members.

Mission of ICMAB: The Institute's mission is to develop, equip and promote Cost and
Management Accounting profession by maintaining highest professional standard of its
members in order to enable them to provide better services to the society.

Vision of ICMAB: Institutes vision is to help Bangladesh become an industrialized

nation by promoting and regulating Cost and Management Accounting profession to
enhance economic competitiveness and quality of life.

Corporate History of ICMAB:

Name : The Institute of Cost and Management Accountants of Bangladesh

Type : The national body of the professional Cost and Management
Accounts of Bangladesh.
Established: 1972

President : Mr. Abu Sayed Md. Shaykhul Islam FCMA

Students : 13,000
Location : Dhaka, Bangladesh
Campus : Dhaka Head Office, DhakaCampOffice,
Chittagong, Khulna, Rajshahi, Comilla
Affiliations: International Federation of Accountants

Corporate Governance: As per the regulations of the Institute following five members
team was elected from amongst the Councilors to run the Office for the year 2015:

Mr. Abu Sayed Md. Shaykhul Islam FCMA President

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Mr. Arif Khan FCMA Vice-President

Mr. Jamal Ahmed Choudhury FCMA Vice-President

Mr. Md. Abdur Rahman Khan FCMA Secretary

Prof. Dr. Swapan Kumar Bala FCMA Treasurer

Global Affiliation: ICMAB is Member of following Global Bodies of

Professional Accountants:-

The International Federation of Accountants

Confederation of Asia and pacific Accountants

South Asian Federation of Accountants

Strategic Partners:

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Legal Status: ICMAB is a statutory organization constituted by the Government under
The Cost and Management Accountants Ordinance 1977 (Ordinance No Llll of 1977)
and regulated under the Cost and Management Accountants Regulations 1980 (as
amended up-to date). It is member of leading regional and global accounting bodies
including International Federation of Accountants (IFAC).

Legacy of the Institute: The Institute has a long heritage of rendering professional services
to the nation. The journey of the glorious profession of Cost and Management Accounting began
in the pre-independent Bangladesh with the founding of a branch of The Pakistan Institute of
Industrial Accountants (PIIA) in 1958. As we started a fresh journey towards success and
prosperity in independent Bangladesh, the profession entered into a new era. In 1972, the
Institute was re-established in the name of Bangladesh Institute of Industrial Accountants (BIIA).
Thereafter, the members of the Institute through their excellence in various fields proved their
credibility in the national and international outfit which started building the credentials for the
Institute for gaining acceptability from all concerned and to attain confidence of the government
and business community of the country. With the changing need of time the Government of
Bangladesh renamed it as The Institute of Cost and Management Accountants of Bangladesh
(ICMAB) through promulgation of The Cost and Management Accountants Ordinance 1977
(Ordinance No LIII of 1977). Now in 2014, after a 40 years arduous journey, the chronicle of
success earned by our predecessors has brought us to the place where we stand today.

Services of ICMABs
Equipped with various methods and techniques, the Cost & Management
Accountants can provide the following services
Collecting, collating, screening, interpreting and condensing data relating to
techno-human business activities

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 To enable Non-Financial Executives to arrive at the right decision or to select the
right courses of action at the right time
Costing of products and services
Designing and implementing effective management information and control
systems.
Planning and control of business operation through costing systems and various
techniques
Inventory control incorporating mathematical models
Cost reduction in connection with modern management tools like Operation
Research, Value Engineering, etc.
Investment analysis and preparation of Feasibility/Project reports; its appraisal and
evaluation
Information management. Project management-planning control and accounting.
Cost Audit of business transactions.
Performance Evaluation.
Working capital management.

Objectives:
The major objectives of the Institute are to:
Regulate and develop the Cost and Management Accounting (CMA) profession in
Bangladesh
Provide and confer the highest professional degree in Cost and Management
Accounting

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 Impart education and training to the members, corporate managers and intending
students of CMA for enhancing their capability in the fields of Cost and
Management Accounting
Develop knowledge, skills and competence of the CMAs needed to support
economic development of the country and, thus, to prepare capable manpower
needed for various national and international development activities according to
the requirements of the millennium
Help development, adoption and implementation of International Financial
Reporting Standards (IFRS) in Bangladesh
Formulate, adopt and implement Cost Accounting and Auditing Standards (CAAS)
in Bangladesh and international arena.
Conduct research in the field of Cost and Management Accounting in order to
promote and develop the profession to meet the requirement of the time.

Background of NBR: The National Board of Revenue (NBR) is the apex authority for
tax administration in Bangladesh. It was established by the father of the nation
Bangabandhu Sheikh Mujibur Rahman under President's Order No. 76 of 1972.
Administratively, it is under the Internal Resources Division (IRD) of the Ministry of
Finance (MoF). The Secretary, IRD is the ex-officio Chairman of NBR NBR is
responsible for formulation and continuous re-appraisal of tax-policies and tax-laws,
negotiating tax treaties with foreign governments and participating in inter-ministerial
deliberations on economic issues having a bearing on fiscal policies and tax

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administration. The main responsibility of NBR is to collect tax revenues (primarily,
Value Added Tax, Customs Duty, Excise Duty and Income Tax ). It works with three tax-
type wings namely, Customs Wing, VAT Wing and Income Tax Wing. There are two
more wings named IT wing and Research & Statistics wing under NBR.

Mission of NBR: NBR conducts advanced independent research on strategic, political,

economic, globalization, health, and energy issues affecting U.S. relations with
Asia. Drawing upon an extensive network of the worlds leading specialists and
leveraging the latest technology; NBR bridges the academic, business, and policy
arenas.NBR disseminates its research through briefings, publications, conferences,
Congressional testimony, and email forums, and by collaborating with leading
institutions worldwide. NBR also provides exceptional internship opportunities to
graduate and undergraduate students for the purposes of attracting and training the
next generation of Asia specialists.

Vision of NBR: An innovative & professional leading border agency that contributes to
the security and economic development and prosperity of Bangladesh.

Corporate History of NBR:

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National Board of Revenue
Abbreviation NBR
Formation 1972
Type Tax administration
Legal status Active
Purpose Tax administration
Headquarters Dhaka, Bangladesh
Region served Bangladesh
Official language Bangla
Internal Resources Division and Md. Ghulam Hussain
Chairman
Private Secretary of The Chairman Md. Kamruzzaman

Member(Board Admin) Jahan Ara Siddique

Parent organization Internal Resources Division, Ministry of

Finance

Staff 3434 officers and 10195 supporting staff

positions

Board of Governors of NBR-

Chairman

Customer Vat Wing

Board
Wing
Admin
Wing

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 Income Tax
Wing

Vat Sub wing Vat Sub wing

Enforcement & Audit
Vat Sub wing IT
Policy VAT Branch-5
VATBranch-3
VAT VAT
Enforcement inspection &
VAT Branch-4 Server
Vat Sub
VAT IT& Project wing Audit
Branch-1 Management &
VAT Policy Intelligence
VAT Branch-
2 VAT
Exemption

Figure- Board of Governors of NBR

Services of NBR:
i) Collection of income tax
ii) Collection of Local VAT
iii) Collection of Import duty ( TARRIF)

Collection of Revenue in 2015-16 (In BDT Crore):

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 Target Collection Rate of Collection Growth over
2015-2016 2015-16 Achievement(%) 2014-15 last FY

Import Duty 42,500 44,854.85 105.54 38333.37 17.01%

Local VAT 54,064 55,684.41 102.99 49013.53 13.61%

Income Tax 53,436 54,244.67 101.58 48353.80 12.18%

Total 150,000 1,54,783.93 103.19 1355700.70 14.06%

CA Firm:

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Company Profile OF CA Firm: Zaman Haque & Co.

Category Accounts & Audit Service

Title Zaman Haque & Co.

Address Maya Kanan, 78, Kakril, Road

Telephone +880-2-8361902, 8317795

Email haque.fouzia@gmail.com
hoquezhc@yahoo.com

Postcode Dhaka 1000

Country Bangladesh

Vision:
To strive for business excellence through Joint Ventures to match the state of the art technologies
and R&D of our foreign partners coupled with the expertise and extensive industrial experience
of our group to compete in the global economy.
Mission:
> To create optimum value for all our stakeholders by adhering to the highest ethical
standards..
> To strive for providing employment opportunity to reduce unemployment.
> To create centers of excellence in industrial and service sectors through Joint
Ventures.
> To contribute to the well being of the society by acting as a responsible corporate
citizen through valuable CSR activities.

Products and services:

1)Auditing
- Statutory Audit (under various statutes such as the Companies Act, etc.)

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- Tax Audit (under the Income Tax Act, 1961)
- Bank Audit (Concurrent, Revenue, Statutory, Stock, etc.)
- Internal Audit (depending on management's needs and requirements)
- Propriety Audit (of NGO's to verify proper and efficient use of funds)

2. Accounting: which primary comprises Book Keeping in an Accounting Software such as

Tally, Busy, Fact, Oracle, SAP, etc.,

3. Taxation (Direct and Indirect):

- Preparation and Filing of Tax Returns (Income Tax, Service Tax, Sales Tax, VAT, Excise, TDS,
etc.)
- Preparation of submissions for various tax assessments and representations.
- Advisory services, in which case you answer a client's queries relating to various tax
compliances and offer some legal tax opinions.

4. Legal and Secretarial (primarily concerned with Corporate Laws):

- Preparation and Maintenance of various records under various corporate laws such as Registers
and Records specified under the Companies Act, 2013.
- Online filing of various forms under the Companies Act, etc.
- Representation services before various government authorities.

5. Other work such as assistance in office administration.

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