Archive for the ‘CIMA’ Category

CIMA signs fast track MoU with ICMAP

Thursday, August 20th, 2009

According to its website, the Chartered Institute of Management Accountants (CIMA) has signed a memorandum of understanding with the Institute of Cost and Management Accountants of Pakistan (ICMAP).

Under the terms of the agreement, members of each body will be allowed advanced entry into the other’s professional examinations.  This means that ICMAP members who have completed all of their body’s professional examinations will have a fast track route to CIMA membership.

Aubrey Joachim, CIMA president, and Charles Tilley, CIMA chief executive, said: “This important collaboration with ICMAP will enable both institutes to highlight the benefits of a professional management accountancy qualification internationally, to share best practice and develop the global business leaders of the future.”

ICMAP members wishing to sit the November 2009 CIMA Gateway Professional Assessment have until August 31st to apply.

CFOs need ‘more influence’ in Boardroom.

Monday, July 6th, 2009

Chief financial officers (CFOs) should be given more influence at board level, a new study has suggested.

In an article on the CIMA website, a survey conducted by CFO Research Services on behalf of KPMG found that 80 per cent of firms think that the finance function should be given a greater say in strategic decision making.

It also revealed that 83 per cent of CFOs think the best way they can improve their standing with other executives is by improving planning, forecasting and budgeting.

Rodger Hill, head of financial management at KPMG in the UK, stated that he was pleased that so many firms recognise there is a need for change.

However, he also pointed out that the majority of businesses held the same opinion when the survey was last conducted three years ago.

Mr Hill said: “This tells you that plenty more companies have since realised where their shortcomings lie - but also that those who realised this three years ago appear not to have done anything about it.

“What a shame that it has taken a crisis of this magnitude to finally shake people into life.”

CIMA elects Joachim as President

Tuesday, June 30th, 2009

The Chartered Institute of Management Accountants (CIMA) has elected its first Asian-born President.  Aubrey Joachim, FCMA, was elected President with global responsibilities at the 90th CIMA Annual General Meeting held at the Queen Elizabeth II Conference Centre, London, on 6 June.

Aubrey Joachim was born in Sri Lanka of Portuguese descent and is now an Australian citizen.  Having commenced his working career at Unilever Sri Lanka in 1973, Aubrey has enjoyed a successful international career in finance and accounting with leading employers across a range of sectors. In 2005 Aubrey founded his own boutique consultancy running strategic financial and management accounting workshops, courses and conferences across the world.

He is now a management coach, mentor and management training provider, contracted to leading global conference, seminar companies and professional bodies, to provide training programmes across Australia, New Zealand, South East Asia, South Asia, the Middle East and Southern Africa. He has been a prolific presenter and conference speaker for over 14 years and regularly authors articles on management topics for professional journals.

CIMA and BPP to help graduates in Credit Crunch

Thursday, May 7th, 2009

CIMA, the Chartered Institute of Management Accountants, and professional training provider, BPP, have joined forces to subsidise courses for graduates coming onto the job market in the toughest market in a decade.  From today, students will be able to sign up to study CIMA Certificate and Managerial level courses at a BPP UK mainland centre during the day, and benefit from a heavy discount of at least 50%.

According to a recent survey by High Fliers Research carried out with over 16,000 final year university students, 10% of respondents are expecting to go into the accountancy profession after university.  However 30% fewer reported obtaining secure job offers from 2008 levels.  This is where CIMA and BPP can help these graduates start their career now.

The set price of £250 includes BPP tuition, CIMA registration, subscription, support and one exam fee per subject.  The offer is open to anyone working 20 hours per week or less, not in full time education, and will apply to Certificate and Managerial level courses for the remainder of 2009.

CIMA unveils details of 2009 awards.

Monday, April 20th, 2009

The Chartered Institute of Management Accountants (CIMA) has launched its 2009 awards.

There are 12 award categories, including the addition of a new category - Unlocking business intelligence - to recognise the finance team which has successfully implemented a business intelligence project.

The awards will be presented at an awards dinner at The Guoman Tower Hotel, London, on 26 November.

Award categories:

• TOPCIMA success
• Tutor of the year
• Part qualified of the year
• Finance team of the year - public sector
• Finance team of the year - private sector
• Recruitment consultancy of the year
• Responsible business
• Innovation in management accounting
• Unlocking business intelligence
• Medium-sized employer of the year: under 5,000 employees
• Large employer of the year: over 5,000 employees, sponsored by Hays Senior Finance
• Outstanding contribution to business performance by a CIMA member
To lead the way and be recognised for your outstanding achievements in 2009, go to www.cimaglobal.com/awards for nomination details and judging criteria.

UK farmers’ need more financial awareness

Wednesday, April 8th, 2009

Farmers run the risk of failing to maximise their incomes because of a lack of understanding of their own costs. This issue is further compounded by the food retailers’ lack of understanding of the farmers’ perspective, and the short-termism forced on farmers as a direct result of the poor co-ordination throughout the agri-food supply chain. In a report launched through CIMA, the Chartered Institute of Management Accountants, addresses the issues surrounding cost management faced by the agri-food sector and suggests that a system based upon Target Cost Management (TCM) could be a solution.

‘Gate To Plate’ (see www.cimaglobal.com/gatetoplatereport) draws upon international research and a series of CIMA focus groups. The report addresses the inherent and sector specific barriers farmers face when it comes to implementing a collaborative costing system and also considers food security and wastage.

The report concludes that strategic management accountancy, and approaches such as Target Cost Management, have the potential to address a number of these issues, to encourage visibility of costs throughout the supply chain and better understanding between participants.

Naomi Smith, Research and Product Development Specialist at CIMA, comments:
“Farmers simply haven’t focused on cost management before. This is partly because of a reliance on subsidies which has meant they frequently don’t understand their costs. This is putting them at a severe disadvantage – especially when dealing with food retailers which have a professional and sophisticated understanding of their own costing systems.

CIMA NHS student excellence awards 2009

Thursday, March 26th, 2009

Four students have been honoured for their outstanding performance in the CIMA November 2008 Chartered Management Accountant examinations at the Chartered Institute of Management Accountants’ (CIMA) NHS Student Excellence Awards.

The Awards took place on 11 March at a National Advisory Group meeting organised by the NHS Graduate Management Training Scheme, held at the University of Warwick.

They celebrate the commitment demonstrated by the NHS in training CIMA students and employing fully qualified Chartered Management Accountants to take on management roles.

The winner and special commendations are based on the exceptional examination results achieved by NHS students in their November 2008 CIMA exams.

Jonathan Smith, from Matlock, a NHS Graduate Management Trainee, currently based at Derbyshire County PCT, recorded the highest mark in a Managerial level paper by an NHS employee in Paper P5 (Integrated Management) and also achieved the second  highest mark in the world for the same paper.

Sunil Thakar, from Reading, a Financial Management Trainee on the NHS Graduate Scheme at the NHS Business Services Authority based at the Royal Berkshire Hospital, recorded the highest mark in a Strategic level paper by an NHS employee in Paper P6 (Management Accounting Business Strategy) and also achieved the joint sixth highest mark in the world for the same paper.

CIMA graduate receives “FD of Year” award

Thursday, March 12th, 2009

Allan Watson, Chief Financial Officer of OPTOS Plc, has been named Young Finance Director of the Year at the Scotland Finance Director Awards 2009.

Allan, an associate member of CIMA, received his award at a gala luncheon held at The Hilton, Glasgow on Friday 27 February.

The Awards, sponsored by Bank of Scotland Corporate, and supported by ASA International with CA Magazine as media sponsors, honour the outstanding contribution and effort made by Finance Directors towards the overall success of their organisations and are the most prestigious accolades available to Finance Directors in Scotland.

CIMA scoops three IFAC Articles of Merit

Thursday, March 12th, 2009

CIMA has been awarded three places in the IFAC Professional Accountants in Business (PAIB) Committee’s 2008 Articles of Merit publication.

CIMA’s articles are as follows;

• ‘Ignore Strategic Risk at your Peril’, written by Gillian Lees and published in CIMA’s Excellence in Leadership publication

• ‘Wheels of Change’, written by Chris Fuller and Martin Fahy and published in CIMA’s Excellence in Leadership publication

• ‘IFRS Creates Tougher World for M&A; Reports Debunks Myth About Success of the Board’, written by Dimitrus Karydas and Kenneth Lee and published in CIMA Insight.

Richard Mallett commented, “We are delighted to be included in this years esteemed publication.

CIMA prides itself on providing technical research and support to its members, students and the wider financial community and we are honoured to be recognised for our contributions to the accounting profession”.

The 2008 Articles of Merit and individual articles can be downloaded from the IFAC online bookstore (www.ifac.org/store).

CIMA wins Accountacy Body of the Year award

Wednesday, February 25th, 2009

CIMA (Chartered Institute of Management Accountants) has won the prestigious Accountancy Body of the Year award at the annual PQ Magazine awards, held last night at Quaglino’s in London.

According to PQ Magazine, CIMA students applauded the recent move to more exam sittings, and reduced waiting times for exam results.  The institute was also praised by students for promoting the CIMA brand and furthering their future.

PQ magazine editor Graham Hambly said: ‘CIMA has become the listening body. The 2010 syllabus is a breath of fresh air. Melding the case study and practical experience requirements shows the institute’s commitment to producing competent accountants for the future.’

Robert Jelly, Director of Education at CIMA, commented: ‘It is an honour to accept this award on behalf of CIMA and we are pleased to see our hard work in reducing exam result waiting times recognised.  Today’s CIMA students will go on to become the leading members of the Institute and we are proud to be training the business leaders of tomorrow.’