LAHORE, Dec 12: The Institute of Cost and Management Accountants of Pakistan (ICMAP) has launched its syllabus 2005 at a seminar held on Monday.

In his speech, ICMAP president Muhammad Rafi stated that educational institutions acted as catalyst in the economic growth and development of any country. He said the ICMAP had a history of providing high quality professional education for more than 54 years in Pakistan under the Cost and Management Accountants Act of 1966 and contributing to the economic development by providing competent business managers.

He said management accountants always played an important role in adding value to business. “They are trained to turn knowledge into profit. The management accountant is more a business adviser and business strategist, who understands the dynamics of business as an organic whole, rather than being a typical finance man with tunnel vision.”

Mr Rafi said the ICMAP syllabus laid down basic framework for passing on the knowledge to the students. “The ICMAP has taken extra care in updating and upgrading its syllabus and to bring it in line with the international professional standards guidance was sought from international education standards set by the International Federation of Accountants and prominent international and national accounting bodies. All stakeholders — students, members of the Institute, employers, etc. —- were also consulted.

Their feedback has been given due weight while designing the syllabus. In this way all out efforts have been made to serve the employers, students and all concerned as effectively as possible with a syllabus which is of international standards in all respect.”