The Institute of Cost Accountants of India (ICMAI) notified the 61st Annual Report, 2019-20 elaborating on the achievements and activities of Departments, Committees, Regions, and Chapters of the Institute.
The abridged Annual Report 2019-20 while elaborating on the initiatives taken for capacity building through qualitative improvements said that the study Materials had been amended for almost all the Papers; Supplementary Study Materials for the forthcoming examinations; Work Book had been uploaded on the website of the institute for all Papers; Mock Test Papers (MTP) for Foundation, Intermediate & Final level; Webinar on selected subjects & topics, delivered by experts from both the academia and industry; Monthly E-bulletin for Foundation, Intermediate & Final level; Online Mock Test Portal for foundation students is now available in the website and Multiple Choice Questions are uploaded for Foundation, Intermediate & Final level.
The report said that in the sphere of Banking, Financial Services and Insurance Department various development was made namely launch of courses on Certificate Course on Credit Management of Banks, concurrent Audit of Banks and Treasury and Forex Management; Certificate Course on Credit Management of Banks and Conduct of WEBINTs; etc.
“The Members in Industry Committee of the Institute, in its continuous endeavor to improve the services to the members who are based in various industries across the country, has taken a number of significant initiatives. These initiatives had been taken keeping in view the objective of developing a professional body of members and playing a vital role in the context of providing leadership. The Committee embarked on activities and programs for sharing, disseminating, and providing to various industries the valuable role of CMAs,” the report while elaborating on the Members in Industry Committee said.
The report further mentioned the implementation of Directions Issued to WIRC by the Council of the Institute under CWA Regulation 145A.
The report further said that in the short term employee benefit is recognized as an expense when claimed during the period. Unclaimed amounts are provided for and in the Post-Employment benefit such as Provident Fund, Gratuity, Leave Encashment, etc. are provided as applicable to Head Quarter, respective Regional Councils and Chapters.
The report did not include during current year, as the financial statements have not been received.
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