Foundation Fundamentals of Business Economics and Management Paper 4 Quiz

Institute of Cost Accountants of India

• The Institute of Cost Accountants of India was established in 1944.
• The Institute has administrative control under the Ministry of Corporate Affairs.
• The Institute operates through 94 chapters and 11 overseas centres.
• The overseas centres are headquartered in Abu Dhabi, Bahrain, Dubai, Kuwait, Malaysia, Muscat, Nigeria, Qatar, Saudi Arabia, and Singapore.
• The Institute has over 85,000 members globally.

Role and Objectives

• The main role of the Institute is to provide guidance and support to students pursuing a career in cost accounting.
• The Institute considers professional competence, ethics, and commitment to lifelong learning as key drivers of the profession.
• The vision of the Institute is to be a global leader in the field of cost and management accounting.
• The mission statement of Cost and Management Accountant professionals is to contribute to the growth and development of the economy by providing expertise in cost and management accounting.
• The motto of the Institute is "Simple, Service, Sacrifice".

Study Notes

• The study notes on Fundamentals of Business Economics and Management have a cover image sourced from the Institute of Cost Accountants of India.
• The first module description weightage for Section A: Fundamentals of Business Economics is 30%.
• Economics is considered to be a field of study that deals with the production, distribution, and consumption of goods and services.

Note: I have reorganized the study notes to group related information together, and removed redundant information. I have also used concise bullet points to make the information easy to understand and retain.