10-20-2009, 09:24 PM
@all of above
well with kind respect, i'd like everyone to read the following
Interview Article
<b>Introduction of Mr. Badruddin Fakhri⦠Ex President, ICMAP</b>
Accountants play a very vital role in the economy. Badruddin Fakhri is yet another famous name from Pakistan in the field of Accounts. He is the President of Institute of Cost & Management Accountants of Pakistan. He has been rendering his valuable services as Technical Advisor in the Education Committee of International Federation of Accountants. He has also been elected as Vice President of South Asian Federation of Accounts in its recent meeting held in Delhi. He was President of Pakistan Institute of Public Finance Accountants for 2001. He has written many Research Articles on different aspects of the economy, especially on Cement Industry.
<b>KalPoint Why is it that you call ICAP as big brothers, and why they enjoy more market acceptance as compared to ICMA?</b>
Mr. Fakhri Truth of the matter is Chartered Accountancy profession is more older than the Management Accounting profession. So, the older has the right to be called big brother. Their market acceptability is more in Pakistan mainly because of two reasons. Firstly, their profession is older as said before. Secondly, the training their students get in articleship provides them edge over the students of ICMAP. There is however a need to differentiate between audit and accounting functions. Audit is certainly their specialization. The management of corporate sector has however started realizing that our specialization is Management Accounting which is more useful for the management. This has already happened in U.K., U.S.A. and Canada. In U.K., as well as India 70%, Chartered Accountants are in practice and only 30% are in jobs. The situation is reverse in Pakistan because practicing business in our country has yet to realize its full potential. Since more Chartered Accountants are available for jobs, they are dominating the job market currently. However, most of the business groups have recognized the potentials of management accounting and have started engaging management accounts for almost all the positions of Finance & Accounting in their companies.
<b>KalPoint Students of ICAP are usually given Internships by their Institutes, but thatâs not the case with ICMA. Why?</b>
Mr. Fakhri They are blessed that they have audit business wherein they train their students. The audit experience makes the difference. Last year nearly 300 internships were arranged for students. With the passage of time we will make sure that all our students either get practical experience at job or get structured training in corporate sector either through internship or through cost audit practicing firms.
<b>KalPoint It is true that a lot of students get in to ICAP or ICMA, start their education, work side by side, gain experience and then discontinue their education saying that they donât need it and make their careers only on the basis of experience that they get? If yes, then why?</b>
Mr. Fakhri Students who are unable to qualify may be giving such excuses, otherwise nobody can deny the value of qualifications of ICAP or ICMA.
<b>(m annexing the link for the authentication of above)
http//education.kalpoint.com/pow/modules.php?name=News&file=article&sid=37</b>
well it is widely accepted that ICAP is on the Top in the list of professional bodies, bt yet seriously dnt know y ppl keep on continuing such arguments.. anyways we accept wat is widely accepted in our economy, n for those who dnt accept actually they 're livin in their own world, they can formulate watever that want. no one needs to clarify or give arguments as they're sure they r rite!
kind regards.
well with kind respect, i'd like everyone to read the following
Interview Article
<b>Introduction of Mr. Badruddin Fakhri⦠Ex President, ICMAP</b>
Accountants play a very vital role in the economy. Badruddin Fakhri is yet another famous name from Pakistan in the field of Accounts. He is the President of Institute of Cost & Management Accountants of Pakistan. He has been rendering his valuable services as Technical Advisor in the Education Committee of International Federation of Accountants. He has also been elected as Vice President of South Asian Federation of Accounts in its recent meeting held in Delhi. He was President of Pakistan Institute of Public Finance Accountants for 2001. He has written many Research Articles on different aspects of the economy, especially on Cement Industry.
<b>KalPoint Why is it that you call ICAP as big brothers, and why they enjoy more market acceptance as compared to ICMA?</b>
Mr. Fakhri Truth of the matter is Chartered Accountancy profession is more older than the Management Accounting profession. So, the older has the right to be called big brother. Their market acceptability is more in Pakistan mainly because of two reasons. Firstly, their profession is older as said before. Secondly, the training their students get in articleship provides them edge over the students of ICMAP. There is however a need to differentiate between audit and accounting functions. Audit is certainly their specialization. The management of corporate sector has however started realizing that our specialization is Management Accounting which is more useful for the management. This has already happened in U.K., U.S.A. and Canada. In U.K., as well as India 70%, Chartered Accountants are in practice and only 30% are in jobs. The situation is reverse in Pakistan because practicing business in our country has yet to realize its full potential. Since more Chartered Accountants are available for jobs, they are dominating the job market currently. However, most of the business groups have recognized the potentials of management accounting and have started engaging management accounts for almost all the positions of Finance & Accounting in their companies.
<b>KalPoint Students of ICAP are usually given Internships by their Institutes, but thatâs not the case with ICMA. Why?</b>
Mr. Fakhri They are blessed that they have audit business wherein they train their students. The audit experience makes the difference. Last year nearly 300 internships were arranged for students. With the passage of time we will make sure that all our students either get practical experience at job or get structured training in corporate sector either through internship or through cost audit practicing firms.
<b>KalPoint It is true that a lot of students get in to ICAP or ICMA, start their education, work side by side, gain experience and then discontinue their education saying that they donât need it and make their careers only on the basis of experience that they get? If yes, then why?</b>
Mr. Fakhri Students who are unable to qualify may be giving such excuses, otherwise nobody can deny the value of qualifications of ICAP or ICMA.
<b>(m annexing the link for the authentication of above)
http//education.kalpoint.com/pow/modules.php?name=News&file=article&sid=37</b>
well it is widely accepted that ICAP is on the Top in the list of professional bodies, bt yet seriously dnt know y ppl keep on continuing such arguments.. anyways we accept wat is widely accepted in our economy, n for those who dnt accept actually they 're livin in their own world, they can formulate watever that want. no one needs to clarify or give arguments as they're sure they r rite!
kind regards.
