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The professional Cost and Management Accountants of Bangladesh's national body is the Institute of Cost and Management Accountants of Bangladesh (ICMAB). In order to promote and regulate the Cost and Management Accounting profession in the country, the ICMAB was established.
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is an institution dedicated to Cost and Management Accounting education and research in Bangladesh. It is managed as an autonomous professional body under the Ministry of Commerce .
The prime task of ICSB is to create professional in order for ensuring sound corporate governance in banks, Insurance and other financial institutions in Bangladesh. [7] In Bangladesh, Institute of Chartered Accountants of Bangladesh, Institute of Cost and Management Accountants of Bangladesh, Bangladesh Insurance Academy and ICSB itself creates Chartered Accountants, Cost & Management ...
Direct labour and materials are relatively easy to trace directly to products, but it is more difficult to directly allocate indirect costs to products. Where products use common resources differently, some sort of weighting is needed in the cost allocation process. The cost driver is a factor that creates or drives the cost of the activity ...
The Institute of Chartered Accountants of Bangladesh (ICAB) is the national professional accountancy body and research institute in Bangladesh. [ 2 ] [ 3 ] It is the sole organisation in Bangladesh with the right to award the Associate Chartered Accountant designation.
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An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...
Management accountants (also called managerial accountants) look at the events that happen in and around a business while considering the needs of the business. From this, data and estimates emerge. Cost accounting is the process of translating these estimates and data into knowledge that will ultimately be used to guide decision-making. [5]