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+--- Thread: CIMA (uk) QUALIFICATION - 2006 (/showthread.php?tid=2593)
CIMA (uk) QUALIFICATION - 2006 - accountant1 - 10-27-2005
<font size="3"><br /><font color="red">Chartered Institute of Managment Accountants (UK)</font id="red"></font id="size3">
<font color="green">CIMA members are Accountants in Business. We represent financial managers and accountants who work in industry, commerce, not-for-profit and public sector organisations. Our key activities are related to Business Strategy, Information Strategy and Finance Strategy. CIMA members are not trained in audit.
CIMA's focus is to qualify students, support members and employers, and protect the public interest. We represent the voice of over 80,000 students and 62,000 members in 155 countries.
CIMA's focus on management functions makes us unique, and we are internationally recognised as offering the financial qualification for business.
CIMA is 'rapidly becoming the chartered qualification of choice' according to recent independent research*, and we work with leading employers in the UK and around the world to train and qualify financial managers. We pride ourselves on the commercial relevance of our syllabus, which is continually enhanced to reflect the latest developments in business. In an age of growing globalisation and intensified competition, the Chartered Management Accountant is fully prepared to meet the need for timely and accurate financial information.
Our members and students work across all business sectors at all levels throughout the world, demonstrating the flexibility of the qualification</font id="green">
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<font color="red">Benefits</font id="red">
<font color="green">The skills you develop through your CIMA study and training will give you a wide range of career options â and allow you to work in a range of different industries.
You will develop the cutting edge skills needed to drive business forward.</font id="green">
<font color="red">Relevant to business</font id="red">
<font color="green">CIMA has developed the most relevant financial qualification for business today and is recognised around the world. We continually strive to meet current and future business needs â and our syllabus reflects this.
We work closely with the business community to make sure that our syllabus is highly relevant. We monitor and update the syllabus regularly so you are fully prepared for the demands of the modern business world</font id="green">.
<font color="red">Recognition</font id="red">
<font color="green">Our syllabus is progressive â your skills will develop as you advance.</font id="green">
<font color="green">We will recognise your knowledge at different levels of the qualifications. You will receive the CIMA Certificate in Business Accounting and the CIMA Advanced Diploma in Management Accounting on route to becoming fully qualified.
This recognition will increase your career potential and earning capacity as you progress and gain experience. So you donât have to wait until you are fully qualified to reap rewards.</font id="green">
<font color="red">Flexibility</font id="red">
<font color="green">The CIMA qualifications are designed to be flexible so you can study and train at a pace that suits you.
For the CIMA Certificate in Business Accounting you can study the five subjects in any order and sit the assessments at any time of the year in one of our accredited centres.
At the Managerial level of the CIMA Professional Qualification there are no progression rules. You can study as many papers as you wish, in any order.
Your practical training can be in any organisation. You do not have to be tied to a training contract, giving you the power to progress your career as you choose. </font id="green">
<font color="red">International Education Standards</font id="red">
<font color="green">CIMA is a member of the International Federation of Accountants (IFAC).
We support the principles, standards and guidelines set out within the "IFAC International Education Standards for Professional Accountants".</font id="green">
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<font color="red">CIMA Course</font id="red">
<font color="green">Are you aiming to develop a truly successful, interesting and diverse career in financial or business management?
If you want to give a real boost to your career potential, CIMA is exactly what you are looking for.
A qualification recognised and respected throughout the world, CIMA will help you acquire the skills you need to help shape and control the future of organisations. You won't be a bean counter, but a key decision maker and strategic planner.
Gaining your Chartered Management Accountant status, and having the initials ACMA (Associate of the Chartered Institute of Management Accountants) after your name will ensure you are recognised as a potential leader of industry and many doors will open to you.
Take a look through this site and find out more about what opportunities CIMA can create for you and what you need to do to progress through the qualification.
Please note that we are introducing a new Professional Chartered Management Accounting CIMA syllabus which will be examined for the first time</font id="green">
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<font color="red">Your Entry Point</font id="red">
<font color="green">No matter what your educational background, CIMA's flexible entry policy enables anyone with a real desire to succeed in business to realise their potential.
The syllabus is progressive and your skills will develop as you advance. The later stages are similar in content to undergraduate and postgraduate studies and you will need to have reached a good standard in Mathematics and English language before commencing your studies.
Relevant higher educational awards, such as degrees and professional qualifications in accounting or business subjects could enable you to enter at an advanced stage. </font id="green">
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<font color="red">Exemptions Explained</font id="red">
<font color="green">You may not need to sit for all CIMA exams if you have a relevant academic qualification. In such cases you may be awarded exemptions from selected CIMA papers.
In order to apply for exemptions you will need to send us a certified copy of your award certificate and a copy of the transcript (details of the subjects you studied) along with your completed registration form and relevant fees. To be certified the copy of your certificate and transcript must be signed by a responsible person as a true copy of the original. We suggest asking your manager or a lecturer to sign the copy. All certified certificates and transcripts must be in English.
If you are awarded any exemptions we will confirm them to you upon registration.
Please note that you should not sign up for a CIMA course until you have written confirmation of your exemptions. We do not accept liability for course fees which have been affected by an exemption decision.</font id="green">
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<font color="red"><u>Syllabus Details</u></font id="red">
<font color="red">CERTIFICATE LEVEL</font id="red">
<font color="green">(Certificate in Business Accounting)
C1
Management Accounting Fundamentals (FMAF)
C2
Financial Accounting Fundamentals (FAFN)
C3
Business Mathematics (FBSM)
C4
Economics for Business (FECB)
C5
Business Law (FBLW)</font id="green">
.....
<font color="red">MANAGERIAL LEVEL </font id="red">
<font color="green">(Advanced Diploma in Management Accounting)
P1
Management Accounting â Performance Evaluation (IMPM)
P2
Management Accounting â Decision Management (IDEC)
P4
Organizational Management & Information Systems
P5
Integrated Management
P7
Financial Accounting & Tax Principles
P8
Financial Analysis</font id="green">
.....
<font color="red">STRATEGIC LEVEL </font id="red">
<font color="green">P3
Management Accounting â Risk & Control Strategy
P6
Management Accounting â Business Strategy (FLBS)
P9
Management Accounting â Financial Strategy (FLFS)</font id="green">
....
<font color="red">TOP CIMA </font id="red">
<font color="green">Test of Professional Competence in Management Accounting
This is a Case Study, which tests the studentâs knowledge regarding all the previous papers.</font id="green">
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<font color="red">Practical Experience </font id="red">
<font color="green">You must gain at least three yearsâ relevant practical experience before you can achieve your Chartered Management Accountant (ACMA) status. Your practical experience must cover three areas Basic, Core and Supplementary and they are as under
Area 1 Basic experience
1a Preparing and maintaining accounting records
1b Statutory and regulatory reporting
1c IT desktop skills
1d Systems and procedure development
Area 2 Core experience
2a Preparation of management accounts
2b Planning, budgeting and forecasting
2c Management reporting for decision-making
2d Product and service costing
2e Information management
2f Project appraisal
2g Project management
2h Working capital control
Area 3 Supplementary experience
3a Financial strategy
3b Corporate finance
3c Treasury management
3d Taxation
3e Business evaluation and appraisal
3f Business strategy
3g External relationships
We do not expect you to cover every element within each area, but you will need to gain wide experience across all three areas. The only requirement is that you get at least 18 months of your experience within the Core area.
You will record your practical experience as part of your âCareer Profileâ, and we recommend that you update this regularly. After you pass your final exams, you will have five years in which to submit your completed Career Profile and apply for CIMA membership.
The Career Profile is made up of the following three sections
1. Personal information
2. A summary of your full employment history
3. An enhanced Curriculum Vitae, including a detailed history of your relevant practical experience,
specifying the number of months you spent in each position and a description of the work you did.
After you register you will receive our Student Resource File; the full practical experience and Career Profile guidelines are within that document.</font id="green">
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<font color="red">Professional Recognition </font id="red">
<font color="green">CIMA (UK) enjoys the following exemptions from other professional bodies
CIMA (UK) graduates are exempt from all the papers of ACCA (UK) except part 3 for which they will have to appear.
CIMA (UK) graduates are exempt from all the papers of ICMAP.(ICMA Pakistan)
CIMA (UK) graduates are exempt from the PPT test, Foundation and Intermediate stages of ICAP.(CA PAKISTAN)</font id="green">
<font color="green">As a qualified member of CIMA UK you may apply for membership of the ICAEW if you meet the following eligibility criteria You are a qualified member CIMA UK for at least 5 years You have no disciplinary record with your current professional and regulatory bodies You comply with your current professional body's continuing professional development requirement You must pass our Examination of Experience (meeting the same standards and demonstrating the same professional skills and judgement as the ACA Advanced Stage case study). This will be marked by our existing case study examiners You must be sponsored by two ICAEW members.</font id="green">
<font color="green">Once awarded, ICAEW membership will enable you to Use the designatory letters ACA (Associate Chartered Accountant), leading to an FCA (Fellow Chartered Accountant) Gain access to all the services and benefits available to ICAEW members. The process
What you need to do
To apply you need to complete the application pack. The pack can be downloaded from the website or you can request it to be sent to you via email or post. Please follow the link to register your interest and gain access to the application pack. What you need to demonstrate Demonstrate your professional competence, skills and expertise by completing the application pack and Examination of Experience. Your submission will be assessed by a panel of ACA examiners and you will be notified of the outcome in due course. Download detailed information about fees</font id="green">
<font color="blue">http//www.icaew.co.uk/index.cfm?route=125720</font id="blue">
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<b><u><font color="red">C.I.M.A (UK) Exams center in Pakistan</font id="red"></u> </b>
<font color="red">CIMAâs paper based exam centres Pakistan </font id="red">
<font color="green">ISLAMABAD 597 Regular
KARACHI 615 Regular
LAHORE 645 Regular </font id="green">
<font color="red">Computer based assessment centres (CBA)</font id="red">
<u><font color="red">ISLAMABAD</font id="red"></u>
<font color="green">College Name Skans School of Accountancy
14 - K Firdos Plaza,
Ayub Market, F8 Markaz
Tel +92 (051) 2852154, 2854566, 2854644 </font id="green">
<font color="blue">www.skans.edu.pk</font id="blue">
<u><font color="red">LAHORE</font id="red"></u>
<font color="green">College Name Skans School of Accountancy
Address 32-33, Shershah Block
New Garden Town
Telephone Number 042-5837450
Fax Number 042-5857410
College Name Zenith School of Accountancy & Management Sciences
Address Suite No 18, Shan Arcade
Barxat Market
Lahore
042-5863680
Email zenithsc@yahoo.co.uk </font id="green">
<font color="blue">Web Site http//www.zsalhr.com </font id="blue">
.....
<u><font color="red">CIMA CBA EXAMS centre in karachi</font id="red"></u>
<font color="green">College Name Ali Institute of Accounting & Management
Address B-1, 1st Floor, Islamic Plaza
Block 13-B, Gulshan-E-Iqbal
Karachi
Sindh
Telephone Number 021-423215
Fax Number 021-2419452
College Name School of Business Studies
Address F-17 Block 8
Clifton
Karachi
Telephone Number 021-5862318
Fax Number 021-5834319
College Name College of Accounting & Management Sciences
Address 109 - B, Gulshan-e-Faisal
Bath Island
Karachi
Telephone Number 021-5837108
Fax Number 021-5834783
Email fazalhaq@cams.edu.pk </font id="green">
<font color="blue">Web Site http//www.cams.edu.pk </font id="blue">
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<font color="red"><b>C.I.M.A Registered College in Pakistan</b></font id="red">
<font color="red"><u>ISLAMABAD</u></font id="red">
<font color="green">College Name Skans School of Accountancy
Islamabad CA/CIMA Campus
14 - K Firdos Plaza,
Ayub Market, F8 Markaz
Tel +92 (051) 2852154, 2854566, 2854644
College Name The University of Lahore - Business School
Address 24 West Raza Plaza
Blue Area
Islamabad
Telephone Number 051-2827645
Fax Number 051-2829238 </font id="green">
.....
<font color="red"><u>LAHORE</u></font id="red">
<font color="green">College Name Skans School of Accountancy
Address 32-33, Shershah Block
New Garden Town
Lahore
Pakistan
Tuition Types
LTP Status Listed
Telephone Number042-5837450
Fax Number 042-5857410
College Name Zenith School of Accountancy & Management Sciences
Address Suite No 18, Shan Arcade
Barxat Market
Lahore
Punjab
Pakistan
Tuition Types Full Time, Part Time Evening, Distance, Revision
LTP Status Listed
Telephone Number 042-5863680
Email zenithsc@yahoo.co.uk </font id="green">
<font color="blue">Web Site http//www.zsalhr.com </font id="blue">
.....
<font color="red"><u>KARACHI</u></font id="red">
<font color="green">College of Accounting & Management Sciences
Address 109 - B, Gulshan-e-Faisal
Bath Island
Karachi
Tuition Types Full Time, Part Time Evening
LTP Status Listed
Telephone Number 021-5837108
Fax Number 021-5834783
Email fazalhaq@cams.edu.pk </font id="green">
<font color="blue">Web Site http//www.cams.edu.pk </font id="blue">
<font color="green">Ali Institute of Accounting & Management
Address 3rd Floor, Shaes Centre
SB-25, Block 13C
Karachi
Pakistan
Tuition Types Full Time, Part Time Day, Part Time Evening, Part Time Day/Evening, Part Time Weekend
LTP Status Listed
Telephone Number 021-4814790
Fax Number 021-4391843 </font id="green">
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<font color="red">Books (BPP)are avaible in pakistan at
Pakistan Business Publisher Lahore</font id="red">
<font color="green">UAN 042-111-000-210
Tel 042- 7591622 & 7561871 & 7561874 & 7589971
Tel/Fax 042- 7523680</font id="green">
<font color="blue">www.pbp.com.pk</font id="blue">
<font color="red">KARACHI</font id="red">
<font color="green">Professional Business Publications
137 - Mezzanine Floor,
E - Market, Block 6,
PECHS, Karachi - 75400.
Tel 021-4395727,</font id="green">
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<font color="red">For Any kind of help regarding ACMA( CIMA UK )
contact at</font id="red">
<font color="blue">islamabad_@hotmail.co.uk
0333-5606607
0345-5237562
www.cimaglobal.com
or
cima.contact@cimaglobal.com</font id="blue">
.....................................................................
CIMA UK books
ELSEVIER CIMA (UK) Officle text books( written by Cima examiners)
First time in pakistan
Paper P7 Financial Accounting and Tax Principles
Paper P8 Financial Analysis
Paper P4 Organisational Management and Information Systems
Text Books+ Revision Cards + Practics Kits
Available for sale
Rate List
P8 Financial Analysis
Study text 800
Revision kit 650
Revison card 150
P7 Financial Accounting and Tax Principles
Study text 800
Revision kit 650
P4 Organisational Management and information Systems
Study text 650
Revision kit 350
Features & Benefits
The official study systems are the only study materials endorsed by CIMA
Updated to reflect changes in the syllabus with key sections written by examiners
Complete integrated package incorporating syllabus guidance, full text, recommended articles, revision guides and extensive question practice
Description
The edition of CIMA's Official Study Systems have been fully updated to reflect changes in the syllabus. Decision Management has been written by the examiners to fully reflect what could be tested in the exam.
practice questions throughout
complete revision section
topic summaries
recommended reading articles from a range of journals
Past solve paper
email javedcma@yahoo.com
- zac - 10-27-2005
that is some information you got there accountant1 but can you specify the value of CIMA in Pakistan and can u please give the address of CBA centres in Karachi??
RENEGADE
- accountant1 - 10-28-2005
Dear Zac as far as value of CIMA is concern its really worth CIMA is UK number 1 qualification CIMA COVER 60% job market in uk as well as world . CIMA has also big job market in MALAYSIA and INDOANASIA . if u complete your cima u will get ACMA STATUS from uk also u will exempt from all papers of ICMA pak . CIMA is really worth in pak its batter then ACCA . its has its own charm in Pakistan , I advice you go for C.I.M.A . GOOD LUCK
CIMA (the Chartered Institute of Management Accountants) is the only
international accountancy body with a sole focus on business. It is a
world leading professional institute that offers an internationally
recognised qualification in management accountancy, focusing on accounting
in business, in both the private and public sectors. It is the fastest
growing UK based accountancy body, in terms of members, in both the UK
and worldwide and is the voice of over 85,000 students and 65,000
members in 158 countries. CIMA is responsible for the education and
training of management accountants who work in industry, commerce and
not-for-profit and has more members in the public sector than any other UK
based body. CIMA prides itself on the commercial relevance of its
syllabus, which is in tune with the activities of high performance
organisations, and evolves continually to reflect the latest developments in global
business. It is committed to upholding the highest ethical and
professional standards of members and students, and to maintaining public
confidence in management accountancy. For more information about CIMA,
please visit www.cimaglobal.com
- accountant1 - 10-28-2005
MBA Fast Track
Advance Further in Management
CIMA members can now benefit from a partnership with the prestigious Henley Management College. Henley have recognised the value of the ACMA qualification by offering members a fast track route to their world renowned MBA.
CIMA members who meet Henley's entry criteria (see below) will gain over 50% exemption from the Henley MBA. Henley's commitment and relevance within business today provides an excellent match for CIMA members eager to continually develop within executive senior management roles.
The Henley MBA will provide CIMA professionals with
an internationally recognised MBA qualification
focus on leading edge management through relevant development and learning
consolidation of analytical decision making skills
knowledge, skills and information to take on a wider breath of responsibility within senior management
Fast track Route to the Henley MBA
CIMA members are given exemption from over 50% of the Henley MBA course, leading straight into Part 3 of the Henley MBA. This means after completing a simple conversion programme CIMA members go directly into Part 3 of the Henley MBA.
World renowned Henley MBA
Henley has been a pioneer in the delivery of the MBA, with over 7,000 people worldwide working on the Henley MBA degree. Henley works extensively with many organisations with headquarters in several countries worldwide. Like CIMA, the Henley MBA is transportable across the world. Henley is rated highly worldwide as a leading business school. In the 2002 Financial Times rankings of Executive Education, Henley was listed in the top 30 business schools worldwide and amongst the top 4 in the UK. The Financial Times also ranked Henley in the top ten schools in Europe for
Top Salary increases
Most Sponsored Students
Most Experienced Intake
Graduates still working for original company. CIMA is delighted to be associated with a world class MBA, which meets the demands of employers and students in business today. www.henleymc.ac.uk/mba
- zac - 10-28-2005
thanx accountant1 i really dont have words for your help its a great advice n had helped me alot in chossing b/w acca n cima thx dude u rock o by the way if u dont mind may i know what qualification are u pursuing??
RENEGADE
- zac - 10-28-2005
wow now thats great u no wot im sayin lol its alwayz great to know that someone's got ur back
i sure will disturb you as iv got plans to do my managarial level from uk i was researching about collages and im confused b/w FTC(London) n Emile Woolf(manchaster) anywayz thx dude for all ur help ill sure will mail you if i get stuck somewhere.Nice to know you..n goodluck for your CIMA o n r u on www.accountancystudents.co.uk???Best Regards
RENEGADE
- accountant1 - 10-28-2005
in my point of view BPP is batter )
i was useing it before long time after that i get bussy in studies ,, today i am free all day long so i am here )
islamabad_@hotmail.co.uk
- zac - 11-02-2005
hummm now this was heartbreakning cauze i heard few months ago that this integeration was going in the right direction newyaz what do u think accountant1 are there any chances of this integeration??? as u r way to experience in this field as i see it )
RENEGADE
- accountant1 - 11-03-2005
NEWS RELEASE
2 November 2005
CIMA JOINS FORCES WITH LEADING AMERICAN INSTITUTE
The Chartered Institute of Management Accountants (CIMA) and The
American Institute of Certified Public Accountants (AICPA) have agreed to
collaborate on developing high quality products and services for their
members. This will allow CIMA, the only international chartered
accountancy body with a sole focus on accountants in business, to offer the
AICPA, the biggest professional accountancy body in the world, additional
professional resources for its members working in business and industry,
who comprise nearly 50 per cent of its membership.
John Morrow, AICPA Vice President, The New Finance, who oversees
services for CPAs in business and industry, said
âThis collaboration will help our members continue developing the
skills to succeed as they assume different roles and levels in business.â
The resources developed through the CIMA-AICPA relationship will
encompass three core areas business management, management accounting and
financial management. âHaving employees with these skills will allow
organisations to gain an advantage in a complex business environment,â
Morrow said. According to Morrow, the impetus for the agreement was the
fact that CFOs are taking a more prominent role in steering the
direction of their organisationsâ business practices.
Charles Tilley, CIMA Chief Executive said âBoth CIMA and the AICPA
wish to develop their support to their members working in business. It
clearly makes sense to share the effort of providing this support and
also help CIMA build its brand in the U.S. where we have an increasing
number of members.â
- ENDS -
islamabad_@hotmail.co.uk
- accountant1 - 11-08-2005
NEWS RELEASE
7 NOVEMBER 2005
CIMA CHIEF EXECUTIVE TAKES ENTERPRISE GOVERNANCE TO CHINA
Charles Tilley, Chief Executive of The Chartered Institute of
Management Accountants (CIMA), presented the concept of Enterprise Governance
and the importance of performance with regard to the responsibilities of
board and executive directors to an audience of 400 Chinese CEOs and
CFOs at a conference on Corporate Governance jointly hosted by CIMA and
the Shanghai National Accounting Institute in Shanghai.
The event is part of CIMAâs partnership with local authorities in China
to promote the importance of the role of management accounting in
business. Charles Tilley introduced enterprise governance as the âenabling
framework to the successful strategic management of an organisation.â
Other speakers at the event included representatives from the Peopleâs
Republic of China Ministry of Finance and accountants and Presidents of
leading state owned enterprises and national corporations.
Charles Tilley said
âThe Chinese economy has seen phenomenal progress in the last 25 years
and there is every sign of this growth continuing. I have witnessed a
strong acceptance of the need for management accounting to drive
businesses forward here. We are now looking to help China with the
management and business skills it needs in both public and private businessâ.
He continued
âThe reputation and status of CIMA continues to grow internationally as
the brand becomes recognised worldwide. Part of CIMAâs focused and
successful strategy has been international growth where there is
considerable scope for CIMAâs unique qualification, solely focused on the needs
of business. The increasing demand for the qualification among
employers is evidence of this. This collaboration with the Shanghai National
Accounting Institute builds on recent collaborations with institutes in
the USA and India.
During the week CIMA also hosted the second annual Employersâ Reception
in Shanghai. Training and finance representatives from over 100
multi-national and national companies attended to share best practice in the
training and development of Chartered Management Accountants.
- ENDS -
For further information, please contact
Steven Hilton
Press Officer, CIMA
+44 (0) 20 8849 2427
steven.hilton@cimaglobal.com
BELIEVING IN YOURSELF IS THE FIRST STEP TO SUCCESS.
never tell Allah how big ur worris are?...........just tell ur worries how big ALLAH is .....
islamabad_@hotmail.co.uk
- sinsabit - 11-09-2005
Well there is a lot of competition between CIMA and ACCA at the moment.
For my part, I am an ACCA member.
I worked in Barclays bank recently and most of my colleagues are CIMA, including my boss and work mate. When I asked them why they chose CIMA, their honest answers where that "it was the easiest"
Go figure....
Helping accountants to find answers www.gaapworld.com
- accountant1 - 11-11-2005
NEWS RELEASE
9 November 2005
Criminal activity has capacity to bring down UK business, security
expert will warn delegates at CIMA conference
CEOs and boards need to be vigilant about the threats posed by a global
organised crime industry that has the capacity to be able to bring down
firms at will. For while the audit process can effectively identify
financial risks, UK businesses of every size are at risk from the
activities of cyber criminals, including digital fraud and extortion. That is
the message DK Matai, Chairman of bespoke online security firm mi2g,
will deliver to delegates at tomorrowâs (Thursday 10 November) CIMA Annual
Conference in London, as global organised crime is estimated to have a
gross annual profit of between US$1.25 and $1.5trillion per annum -
roughly equivalent to the GDP of the UK.
The warning from Mr Matai will come as he joins an expert line-up of
economists and business leaders at the Chartered Institute of Management
Accountantsâ annual conference. It also coincides with a prediction by
the mi2g Intelligence Unit that there is a growing requirement for
governmental intervention to protect economic targets, in the face of an
almost doubling of hacking incidents every three months, which have moved
away from government departments to focus on SMEs and large
corporations.
Speaking at tomorrowâs CIMA conference, Mr Matai will tell delegates
âWith as much as 25 per cent of organised criminal activity operating
behind the safety of a nominally legal business, and identity theft,
denial of service, phishing scams and credit card fraud all rising,
organised and cyber crime is an issue with the potential to affect businesses
of every size in the UK. That means criminal and extremist groups have
the capacity to bring a small, medium or large business down at their
will and boards need to beware.â
- ENDS â
For interviews, photographs and further information please contact
Lynda Hardy Maskell
Chief Press Officer, CIMA
020 8849 2347
lynda.hardymaskell@cimaglobal.com
BELIEVING IN YOURSELF IS THE FIRST STEP TO SUCCESS.
never tell Allah how big ur worris are?...........just tell ur worries how big ALLAH is .....
islamabad_@hotmail.co.uk
- accountant1 - 11-12-2005
High energy prices are here to stay HSBC chief economist warns CIMA conference
11 November 2005
Speaking at yesterdayâs CIMA Annual Conference, HSBCâs Stephen King - one of the UKâs leading economists - warned delegates that âHigh energy prices are not just the result of immediate events such as hurricane Katrina and war in Iraq. The increase in demand is fuelling higher oil prices that are here to stay. This is not a temporary rise.â
Globalisation, said Mr King, was a game in which some would profit, while others would lose, both economically and in terms of energy consumption. âThe trend in recent years has been to try to apply a mathematical model to the economy, but that no longer stacks up. Globalisation means that there will be winners and losers. Higher oil prices will reward oil producing nations rather than oil consumers but, because of an absence of wage pressures, there should be no major problem for inflation in the industrialised world.
However, he continued âIf energy consumption continues to rise at the levels expected, China will be consuming the equivalent of all of todayâs energy supplies in the next 20 to 30 years. The winners in this will be the oil consuming nations, not the energy consumers.
Coming to issue of management and employment, Mr King told delegates that âOne of the key trends is a shift in economic power from Western workers to workers in developing markets. This is driven by the size of their working populations. While the EU has 250m people of working age and the US has 200m, China has 900m and India has 680m and rising. And where we were once complacent that this shift - and the outsourcing of jobs - used only to apply to less skilled occupations, there is evidence that this is changing.â
He warned against complacency over the outsourcing of work to developing countries. For while this has traditionally applied to the less skilled end of the employment market, he said, a recent United Nations study reported the fact that in future multi-national corporations expect to spend their R&D budget in
China
US
India
Japan
The fact that no EU countries feature in this list of top four economies likely to benefit from multi-national R&D spend was also identified as potentially having implications for the future labour market for educated and skilled workers.
Mr King also emphasised the fact that both political changes and the cost of communications have been key influences on the global economy. Political changes have led to the integration of countries such as China into the global economy, while reductions in the cost of communications mean western workers are now competing with the rest of the world. A primary example of this is the fact that in 2000 a one minute telephone call from India to the US cost 60 rupees and now costs around seven rupees, while the cost of the same call from India to the UK was 48 rupees in 2000 and also costs approximately seven rupees in 2005.
- ends â
For further information, please contact
Lynda Hardy Maskell, CIMA
+44 (0) 20 8849 2347
lynda.hardymaskell@cimaglobal.com
BELIEVING IN YOURSELF IS THE FIRST STEP TO SUCCESS.
never tell Allah how big ur worris are?...........just tell ur worries how big ALLAH is .....
islamabad_@hotmail.co.uk
- accountant1 - 11-15-2005
CIMA prepares for new code of ethics
Principles-based approach to give members control.
By Martin Nimmo, head of policy and plans, professional standards, CIMA.
Subject to Council approval, CIMA expects to announce its new code of ethics which will apply to all members and students from 1 January 2006. It is based on the recently announced IFAC code of ethics. IFAC's emphasis on professional accountants in business recognises that they have become a major focus of attention worldwide. For the first time CIMA's code will include a section on public accountants in business.
The code enables members to see what the real threats are and proposes means of safeguarding against them. This principles-based framework approach (as opposed to the more traditional rule-based approach) is felt to be an advance as it gives control to members and part qualifieds.
The aim of the CIMA syllabus and practical experience requirements is to equip you with the skills and knowledge to undertake tasks appropriate to your level of seniority. This is true whether you are a member or part qualified student. CIMA professional development is there to enable you to match your skills to the job you are required, or aspire, to do. That is why you are the best person to assemble your own personal CPD programme.
It is fundamental to working as a CIMA member or student that you should only undertake tasks for which you have, or can obtain, sufficient specific training or experience. The code of ethics says that âa professional accountant in business should not intentionally mislead an employer as to the level of expertise or experience possessed, nor should a professional accountant in business fail to seek appropriate expert advice and assistance when required."
Gaining control
The new code outlines circumstances that might threaten your ability to perform duties with the right level of competence and care. These include
insufficient time for properly performing or completing the relevant duties
incomplete, restricted or otherwise inadequate information for performing the duties properly
insufficient experience, training and/or education
inadequate resources for the proper performance of the duties.
These are all beyond your control, but are possible to remedy with the right safeguards. The significance of such threats will depend on factors such as the extent to which you are working with others, your relative seniority in the business and the level of supervision and review applied to the work.
The significance of the threats should be evaluated. If they are significant, safeguards should be used to eliminate them or reduce them to an acceptable level. Safeguards that may be considered include
obtaining additional advice or training
ensuring that there is enough time to perform the relevant duties
getting help from someone with the necessary expertise
consulting, where appropriate, with
- superiors within the employing organisation
- independent experts or
- a relevant professional body.
Considering refusal
Some of these safeguards may simply not be possible, but it is vital to signal a major problem as quickly as possible to your manager. The person with the necessary expertise may not exist within your organisation, but a management accountant in practice might be able to assist. Where threats cannot be eliminated or reduced to an acceptable level, you should consider whether to refuse to perform the duties in question. If you refuse to perform the duties, you should communicate clearly the reasons for doing so.
What problems do you face if you try to go beyond your expertise? At the very least a reprimand, possibly dismissal, and a complaint to CIMAâs Conduct Department. Your career prospects will almost certainly be harmed. If in doubt as to the action you should take, and if the current ethical guidelines or (from January) new CIMA code of ethics do not seem to provide a way forward, please contact the CIMA ethics manager, Danielle Cohen, on +44 (0) 20 8849 2318. Her job is to help you to arrive at a decision on the action you need to take, not to make that decision for you. You are in control of your own destiny.
BELIEVING IN YOURSELF IS THE FIRST STEP TO SUCCESS.
never tell Allah how big ur worris are?...........just tell ur worries how big ALLAH is .....
islamabad_@hotmail.co.uk
- accountant1 - 11-15-2005
Your questions answered on ethics code
Why we need a new code, what has changed and more. By Danielle Cohen, ethics manager, CIMA.
On 21 October CIMAâs Council approved the adoption of a new Code of Ethics. This will replace the current Ethical Guidelines, which have been in place since 1992. The new code will come into effect in January 2006. This article provides answers to some of your most frequently asked questions on the subject.
Why is CIMA adopting a new code?
The Code of Ethics provides more comprehensive guidance than the Ethical Guidelines that it replaces, reflecting recent developments in ethics across the accountancy profession.
Who does the code apply to?
The Code of Ethics will apply to all CIMA members and students from January 2006, just as CIMAâs Ethical Guidelines currently apply to all members and students.
How was CIMAâs new Code of Ethics developed?
The code is based on the International Federation of Accountantsâ (IFACâs) new Code of Ethics, which was developed with the input of the global accountancy profession, including CIMA. CIMA members and students can therefore be confident that the ethical standards they are expected to uphold are aligned with those of accountancy institutes worldwide.
Why is CIMAâs code based on the IFAC code?
CIMA is a member of IFAC, and we feel that the principles contained in the IFAC code adequately meet our requirements as a framework for a Code of Ethics. Historically, elements of the Ethical Guidelines have been based on the IFAC Code. We are ensuring that, as well as aligning our standards with those of the international profession, we are also meeting our obligations as a member of IFAC.
Are the other Consultative Committee of Accountancy Bodies institutes adopting similar codes?
All of the other CCAB institutes will be adopting similar codes based on the IFAC Code over the coming months.
What are the main differences between the new Code of Ethics and the current Ethical Guidelines?
The new code is longer and more comprehensive than the Ethical Guidelines. It includes sections specifically relating to both professional accountants in business (the majority of CIMA members) and those in public practice. The new code also deals with each of the fundamental principles in much more detail than the Ethical Guidelines.
One of the most important ways in which the new code differs from the existing Ethical Guidelines is that it uses a âconceptual framework approachâ. This approach recognises that it is impossible to define every situation that creates threats to the fundamental principles, and therefore that it is equally impossible to set out specific mitigating action. Rather than supplying a set of rules, the framework aims to help an accountant to identify, evaluate and respond to threats to compliance and if necessary to apply safeguards to eliminate or reduce those threats.
What are the fundamental principles of the Code of Ethics?
integrity
objectivity
professional competence and due care
confidentiality
professional behaviour.
Is CIMA involved in any other ethics activities?
We are arranging a number of other activities to promote ethics and the new code. These include significantly increasing the provision of ethics support for members and students.
Where can I find the Code of Ethics?
The Code will be available to download from the CIMA website from January 2006, and will be distributed on a CD attached to the front of the February 2006 issue of Financial Management magazine. For further information or guidance about ethics please see the CIMA website or contact Danielle Cohen, ethics manager (danielle.cohen@cimaglobal.com or +44 (0)20 8849 2318).
BELIEVING IN YOURSELF IS THE FIRST STEP TO SUCCESS.
never tell Allah how big ur worris are?...........just tell ur worries how big ALLAH is .....
islamabad_@hotmail.co.uk