Welcome to the October 2010 edition sss Feature Coming soon - fulfil your CPD requirements in one easy go with CIMAPlus CIMAPlus is a very cost effective way of accessing high quality CPD (continuing professional development) products, supporting your career as a CIMA professional. Complementing the existing range of free CPD resources we already provide you with as a member, CIMAPlus represents a significant financial saving - and is also a way to meet your CPD requirements in one go. CIMAPlus will be available for you to buy very soon when you renew your CIMA membership online. Log on to CIMAPlus www.cimaglobal.com/cimaplus to find out in the meantime. more Working with the Chongqing Technology and Business University CIMA与重庆工商大学签署合作协议 This August, CIMA signed a Memorandum of Understanding with Chongqing Technology and Business University to set up a CIMA study class. This was as a response to the increasing demand from the local market for individuals with an international accountancy qualification. signing ceremony was organised by Chongqing government in the UK Pavilion in Shanghai Expo before an The audience of senior government officials including the vice mayor of Chongqing and UK Chargé d'Affaires, and hundreds of local and international business representatives. As a result CIMA attracted a high level of media exposure. Read more 点击 CIMA elects its new president CIMA选出新任会长 In June, CIMA elected its new president, George Glass at the CIMA annual general meeting (AGM) held at the Queen Elizabeth II Conference Centre, London. George has been a member of the Institute’s council since 2000 and chaired the technical committee from 2005 to 2007. More recently, he has chaired the lifelong learning policy committee and the project board overseeing the creation of CIMA’s 2010 syllabus. George has further represented the UK and CIMA on the IT committee of the International Federation of Accountants (IFAC).
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Feature What CIMA thinks of plans for the Shanghai Financial Centre Andrew Harding：金融业不应成为“赌场” Andrew Harding, Executive Director of CIMA Markets talked to CaiXin Media, a prominent business magazine in China, expressing his view on Shanghai’s vision to build a world financial centre and the importance of management accountants in today’s climate. He said financial institutions should provide services to industries and in turn grow the economy rather than indulge in ‘casino banking’. Although China has in the past ten years introduced hundreds of thousands of people into the accountancy profession, most of these people have simply focused on ‘financial accounting’. Now is the time for management accounting to add value to companies and drive the economy forward. (See the article here)
CIMA member speaks on ‘adding value to your organisation’. CIMA 会员重庆开讲：管理会计为企业增值 CIMA fellow Mr Ng Seow, Kong Group Chief Financial Officer, Top Education Group gave his presentation to over 50 financial managers in Chongqing on ‘how management accounting can add value to the companies’. Mr Ng shared his broad experience in reshaping finance function, finance control and ERP implementation with the audience who were predominately made up from local SMEs. Those who attended felt encouraged by CIMA’s vision of the future of the finance function and welcomed more opportunities to share best practice in the future. Would you like to share your knowledge with others? CIMA Chongqing office is offering CIMA members the opportunity to be a speaker at CIMA events in Chongqing. If you are interested please email to: flora.hu@cimaglobal.com
CIMA publishes May 2010 exam results CIMA2010新大纲下第一次考试成绩公布 The May 2010 results mark the first session of exams of CIMA’s new (2010) syllabus. Excellent student performances including the T4 case study examination produced a record global pass rate of 62%. There have been some excellent student performances from around the world - prizewinners and commendations in individual papers included students from employers such as Airbus Operations, Cadbury Group Ltd, Johnson Electric (Hong Kong) Ltd, Network Rail, National Health Service and Tesco plc.
Upcoming events CIMA management accounting workshop - “集团化财务资金管控之道” Cash, treasury and risk management in China By EuroFinance 10-11 November 2010
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Jobs and careers CIMA's website lists current vacancies from employers looking for the right people to become their leaders of tomorrow ...visit the jobs page to find out more
Finance Manger in Beijing Finance Director in Shanghai Sales Finance Manager in Shanghai Financial Planning and Analysis Manager in Shanghai SOX Manager in Beijing
CIMA news CIMA calls for public sector shake-up CIMA’s report, ‘New public sector performance management: making fiscal consolidation smarter’ outlines the crucial need for Britain’s government to address long-standing deficiencies in performance management alongside the related short-fall in qualified finance experts working in the public sector. CIMA views this as a once-in-a-generation opportunity to rethink the way central government is administered to provide better value for money. Key recommendations outlined in CIMA’s new report include: • • • • •
the need for better performance management – every public sector organisation needs to be clear about its objectives and strategy the UK Cabinet should agree a ‘whole of government’ strategy in light of the current strategic gap the new government must use the crisis as an opportunity for smarter fiscal consolidation the public sector should be open to learn from the private sector the public sector needs to gain more expertise in cost reduction.
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