Frequently Asked Questions

Answer all of your questions

About LCBS Dhaka

A platform with a market focused approach to produce proficient individuals who are made highly sought after by the employers.

LCBS is an organization specialized in human capital development in the areas of International Chartered Qualifications (ACCA, CIMA & CIPFA), Training & Consultancy for private & public sector and TVET, Talent management & placement of Graduates, IT Training & Global Exam provision, assessment and coordination.

LCBS is the acronym of an institution which stands for “Limerick College of Business Studies” Ireland.

LCBS Dhaka is an academic institution with a difference as it provides seven sphere approaches to   cater to the demand of both private and public sector customers. It provides courses for fresher, unemployed graduates, service personnel in private sector, finance professionals in public sector, skill seekers at TVET sector and IT education and expansion. LCBS has the distinctive feature of having   the accredited authority for global certification of professional examination.

Incorporated in 2007 in Ireland, LCBS Professional Tuition Ltd started as Limerick College of Business Studies, Ireland established itself as a leading institute in Ireland, and in 2010 established an identical but separate entity by the same management called LCBS Dhaka in Bangladesh, catering for all levels of International chartered qualifications, Training & Consultancy and Exam provision of Global exam vendors both in practices and in industry.

LCBS Dhaka became the first Gold then became the first & only Platinum status institute of ACCA in Bangladesh.

LCBS Dhaka became the first and only Premium Learning Partner of CIMA in Bangladesh.

LCBS Dhaka is the first Approved Training Partner (ATP) of CIPFA in the world and proudly representing CIPFA as Country representative office.

There are dedicated people for international students and admission office. You can contact them through email ( [email protected] or call through provided num,ber in the website. Our state of the art website alkso good source of information and contact point for international student. You can live chat with our dedicated representatives and can have all the information required for visa processing and others.

CIMA

The Chartered Institute of Management Accountants (CIMA) is the world’s largest professional body of management accountants offering the most relevant accounting qualification for a career in business.

If you are considering a career in finance or business, the CIMA qualification will open doors with top employers all over the world. As a Chartered Global Management Accountant (CGMA) you’ll earn more and go further. . CIMA’s study and robust assessment methods mean that the real-life skills and competencies employers need are woven into the syllabus.

Management accounting is the sourcing, analysis, communication and use of decision-relevant financial and non-financial information to generate and preserve value for organizations.

Management accounting combines accounting, finance and management with the business skills and techniques you’ll need to add real value to any organization. Management accountants are qualified to work across the business, not just in finance, advising managers on the financial implications of big decisions, formulating business strategy and monitoring risk – much more than just crunching numbers.

Management accountants use information of all kinds, not just financial, to lead and inform business strategy and drive sustainable success. As a Chartered Global Management Accountant (CGMA), you will use this information to develop dynamic solutions to improve business.

CGMAs work in all areas of business, in all types of organizations in both the public and private sectors, all over the world. They work in finance, IT, marketing, HR, operations and senior management positions. They could be project managers, management consultants, finance directors or chief executives, and many go on to run their own business.

The difference between management accounting and financial accounting

Financial accountingManagement accounting
Prepare reports, generally based on past performance; in line with reporting requirementsCollate information such as revenue, cash flow and outstanding debts to produce timely trend reports and statistics to inform important, day-to-day management and business decisions
Produce the required financial information for use by other functions within the business, for example department managers.Combine financial information with non-financial information data to paint a complete picture of the business. They use this to drive business success.

Being a CIMA student carries so many benefits, and sometimes it’s easy to forget what’s on offer and where to find support and advice on your studies. We’re here to support you every step of the way as you work hard to attain the CGMA designation and career success.

By studying CIMA, you will develop the critical knowledge and skills that employers are looking for and be ready to work in any business – large or small, public or private, all around the world. Read on and explore why becoming a CGMA with CIMA is the right choice for you.

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As part of the world’s largest and leading professional body of management accountants, you have the most relevant qualification for business and your letters showcase your skills and experience globally, connect you to a community of like-minded peers and show you have a commitment to lifelong learning, ethics and professionalism.

CIMA is committed to elevating the profession and works closely with employers – updating our qualification, professional experience requirements and continuing professional development programme to ensure our continuing relevance to business.
All of this sets you apart from the crowd – giving you recognition as a financially qualified business leader and driving your career forward.

As a CGMA, you get access to a wide range of benefits and services – explore what’s available to you and ensure you’re making the most of your membership.

Chartered Global Management Accountant™ (CGMA®) is the global designation for management accountants. It’s powered by the resources and expertise of the American Institute of CPAs (AICPA) and CIMA, two of the world’s leading accounting organizations.

As a CIMA member, you automatically qualify for the designation and can use the letters CGMA after your name*.

The CGMA designation extends the global reach of your recognition as a chartered management accountant. You remain a CIMA member, with all the benefits of CIMA membership.

The CGMA designation;

  • Recognizes your experience and skills globally – Having the CGMA designation will add power to your CV/resume by demonstrating your business acumen, ethics and commitment.
  • Showcases your value around the world – Every day we work with key employers and influencer’s worldwide, increasing awareness of the designation.
  • Connects you to a community of like-minded peers – By becoming a part of a global community of professional management accountants, you can share best practices, create innovation and be better prepared to meet the global challenges in today’s business environment.
  • Gives you the tools you need to succeed – CGMA tools, webinars, reports and research will challenge your thinking and keep you at the forefront of your profession, giving you a competitive edge. These resources are exclusive to CGMA designation holders.

Gaining the designation

When you gain CIMA membership, you also gain the CGMA designation*.

From January 2015, all CGMAs – whether they followed the AICPA or CIMA route – will undertake the same final strategic case study exam and practical experience requirements to become CGMA designation holders. For CIMA students, this is the final case study exam of the CIMA qualification.

*Please note that members of CMA Canada who are elected to CIMA membership through the ‘preferred Access’ route after 31 January 2012 are not eligible to use the CGMA designation.

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If you no longer wish to be a CIMA member, you can resign in writing by letter or email to [email protected]. If you do not wish to be charged the current year’s subscription fee please resign by 31 March. You must return your membership certificate to The Helicon, One South Place, London, EC2M 2RB.

Resigning means that you do not become lapsed from our records. Your record is correctly updated and amended to show a resigned status.

If you wish to return to CIMA after resigning you will need to apply for readmission.

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General FAQ about ACCA & CIMA

ACCA stands for the Association of Chartered Certified Accountants a leading international accountancy body. The ACCA qualification is recognised and is treated in other countries as being equivalent to their local qualification.

You know you want to study for an accountancy qualification. … CIMA and ACCA are both prestigious qualifications that will give your career prospects a massive boost. But they each have different strengths, and you may find one suits  your ambitions better than the other. Obviously it’s important to do your research

The single most important difference between them is that CA is a local qualification, granted in Pakistan by ICAP, a professional body of Chartered Accountants, whereas ACCA is an international qualification, or a global professional degree. I think it is difficult to say which one is better than other.

Founded in 1904, the Association of Chartered Certified Accountants (ACCA) is the global professional accounting body offering the Chartered Certified Accountant qualification (ACCA or FCCA). … Chartered Certified Accountant is a legally protected term.

You have up to ten years to complete your exams. Consequently, everyone moves through their ACCA studies at different speeds, although typically students will take around three years when studying on a full-time basis, and three to four years if studying part-time.

ACCA

You can register online to become an ACCA student at any time of the year. For any support you can contact with LCBS Dhaka information & admission office.

Applying online allows you to upload all your supporting documents. This means your ACCA application will be processed much quicker and you will know at which level you can start your studies shortly after submitting your application.

Ready to begin your application? Apply now / https://www.accaglobal.com/acca-registration-intro.html

To avoid delays in the application process please include all supporting documents at time of registration.

The Minimum  entry requirements for students wishing to register with ACCA are

  • 2 A Levels and 3 GCSE ( 5 Separate subjects including English and Match ‘s )
  • Degree ( from a recognized institution /University )
  • If Someone has completed a certain level Of University education accounting or business Studies

There are no minimum entry requirements – you can start at any level. However, we strongly recommend you start at the Introductory Certificate if you have no formal qualifications, especially if it has been a while since you completed any studies.

This is because students who start at the Introductory Certificate and work their way through the Foundation level-qualifications perform better in the higher level exams.

To start at Fundamentals level you need a relevant secondary school education.

  • Like Students who passed SSC/HSC or O levels.

You are required to submit copies of the following:

  • Official educational documents e.g. completion certificates and transcripts detailing the modules studied
  • Proof of identity (copy of birth certificate / passport / National ID Card or driving license)
  • Passport-style photograph

Please note that where documents have been issued in a language other than English, we require a photocopy of the original language documents and a copy of an official English translation.

You will be able to upload and attach copies of all documentation to your online application. Please note that in order to fully complete your application online you will be required to pay your registration fee by credit or debit card.

The online application should take no more than 10 minutes to complete, providing you have all the documents you need ready before you start.  You can also save a part-complete application and return to it a later date.

If you complete your application fully online, and we receive all the information and documents we require, you should be registered as a student within 5–7 working days.

If you have to send documents or payment to us by post, you should be registered as a student within 10 working days.  Please note this timescale is from receipt of the documents.

We aim to process all applications within the timescales stated above following receipt of the application.  You will then be sent a communication via email or letter confirming your application has been processed.   Should we require further information to support your application we will contact you.

This section focuses on the fees payable when you register. For full details of all of our fees, see our current fees list

A subscription fee is charged in addition to the initial registration fee in your first year as an ACCA student if you are eligible to sit at more than one exam session in a calendar year

New students who registered before 9 May 2017 will be charged a subscription fee in addition to their initial registration fee.

Thereafter the annual subscription fee is due and payable on or before 1 January each year you wish to remain an active student.

ACCA has a tiered pricing approach to exam entry. This means that the earlier you enter for your exams, the less you pay. For more information on exam entry fees, visit the apply now page in the Related Links.

There is also a charge for every exemption awarded.

Please note, exemptions for the ACCA Qualification are available for the first nine papers (F1 – F9) only.

Tuition

If you wish to take tuition at a University or College, these fees will be separate and paid directly to the tuition provider. A list of approved ACCA tuition providers can be found here.

Unfortunately, an application cannot be finalized without the relevant fee. Please ensure that a payment is submitted as part of your application.

Please note, until your application is finalized and you have been issued with official confirmation of your registration, you will be unable to attempt any examinations.  Students are also advised not to book exam until their registration is confirmed.

You may be exempt from some of our exams based on the qualifications you already have. These will be assessed as part of your online application, but you can use our online Exemption Enquiry Database to get an idea of what you might receive before you apply.

Should you have any additional questions, please visit the exemption FAQs link http://www.accaglobal.com/gb/en/help/exemptions.html for further information.

Please note: Exemptions are not awarded until after your education documentation has been assessed and registration application completed.

In order to complete the ACCA Qualification and qualify as an ACCA member, you will need to complete:

  • 14 exams (exemptions are awarded based on qualifications held)
  • 3 years practical work experience
  • the Ethics and Professional Skills module

The exams are detailed below:

Fundamentals Papers

Knowledge Module

F1 – Accountant in Business

F2 – Management Accounting

F3 – Financial Accounting

Skills Module

F4 – Corporate and Business Law

F5 – Performance Management

F6 – Taxation

F7 – Financial Reporting

F8 – Audit and Assurance

F9 – Financial Management

Professional Module

P1 – Governance, Risk and Ethics

P2 – Corporate Reporting

P3 – Business Analysis

Options (two to be completed)

P4 – Advanced Financial Management

P5 – Advanced Performance Management

P6 – Advanced Taxation

P7 – Advanced Audit and Assurance

To help demonstrate to potential employers that you can apply your knowledge in the workplace and have practical skills, you are required to complete three years relevant work experience. You can gain your practical experience before, during or after you complete your exams

As part of your ethical development, you are required to complete the Ethics and Professional Skills Module. This will give you exposure to a range of ethical perspectives and includes several self-tests which require you to reflect on your own ethical behavior and values. The module becomes available to you online when you have completed the first three exams of the ACCA Qualification (F1 – Accountant in Business, F2 – Management Accounting and F3 – Financial Accounting), although it is recommended that you complete all nine Fundamentals level exams (F1 – F9) before taking it.

The Foundation-level qualifications, collectively referred to as ACCA Foundations Diploma  , are detailed below:

 

Foundation Diploma (only available in Pakistan and Bangladesh)

FA1 – Recording Financial Transactions

MA1 – Management Information

FA2 – Maintaining Financial Records

MA2 – Managing Costs and Finance

FAB – Accountant in Business

FMA – Management Accounting

FFA – Financial Accounting

Certified Accounting Technician

To achieve this award you need to complete all of the above exams and two of the following exams:

FTX – Foundations in Taxation

FFM – Foundations in Financial Management

FAU – Foundations in Audit

To gain any of the above awards, and receive a certificate you are required to complete the Foundations in Professionalism Module. This will give you exposure to a range of ethical perspectives and includes several self-tests which require you to reflect on your own ethical behavior and values.

To help demonstrate to potential employers that you can apply your knowledge in the workplace and have practical skills, you are required to complete one year’s relevant work experience. You can gain your practical experience before, during or after you complete your exams

From 2016, ACCA is running four exam sessions per year. Students can sit a maximum of four papers at each exam session, and a maximum of eight distinct exams each calendar year. You could therefore complete all of the exams in 2 years.

However, as you also need three years practical work experience before you can become an ACCA member and be considered a qualified accountant, the qualification takes a minimum of 3 years to complete

Once you are a registered Foundations Diploma   student you have an unlimited amount of time in which to complete the qualification, however it can be completed quite quickly.

The first 7 papers Foundation-level qualifications are:

These consist of 4 exams and the Foundations in Professionalism module, which could be completed in 6 months.

The ACCA Foundation Diploma could be completed in 1 year, as could the Certified Accounting Technician qualification provided you achieve your required work experience whilst studying.

From 2016, ACCA is running four exam sessions per year, and in addition the majority of exams at the Foundations level and F1-F3, F4 English and F4 Global exams are available as on-demand computer based exams (CBE) which provide students with even greater flexibility and convenience.

Please see the ‘important dates’ page for students for full details of forthcoming exam cycles.  / Please go to the link below

http://www.accaglobal.com/gb/en/student/getting-started/important-dates.html

 

As an awarding body, ACCA relies on its global network of third party tuition providers to help our students prepare for their exams.  Please note, ACCA does not provide tuition for its qualifications.  ACCA recommends that you use one of our approved tuition providers.  LCBS Dhaka as a Platinum Partner institute of ACCA always welcome you to prepare yourself for the exams.

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