CIMA India newsletter May 2012

Keeping a tab on the world of business April-May 2012

Recap............................................2 l

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CIMA Global Business Challenge, India Final

Whiz the AccentureCIMA Business Challenge

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Train the Trainer....................................3

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CGMA Launch Event

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Revision Workshop

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Times Education Boutique .................4

Up Next .......................................4 l

Second intake of joint MBA programme with IGNOU

CIMA Tuition Partners...............4 CIMA'S New Alliances ...............5 l

Symbiosis International University

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Ideal Classes, Mumbai

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IMS Proschool

Referral Campaign .....................5 Member Speak............................6 l

Sriram Kameshwar ACMA, CGMA.

Latest Vacancies on CIMA MYJOBS ............................7 CIMA Insights..............................7 Important Dates.........................7 CIMA Applause...........................8 Student Competition ................9 Contact Details

Message from

Arati Porwal

“

We have seen a remarkable increase in exam entries for the May 2012 exams. The number of students taking our gateway assessments has grown by 45% over November 2011.

Dear CIMA students and members,

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Content

Vol. II

assessments has grown by 45% over November 2011. Our endeavour is to build a network of tuition partners across the country to provide you the choice of study support. We now have over 25 tuition partners in the country. 'Train the Trainer' workshops in April will equip the faculty at these partnerships with the skills to support you.

Welcome back to CIMA Pulse. It is a pleasure to be connected with you again with the second edition of this bi-monthly newsletter. The welcome that the first edition of CIMA Pulse received has strengthened our commitment to come back with another roundup of our activities and achievements during the last two months.

Globally, CIMA continues on its journey to keep management accountants CIMA's purpose is to help you and your a step ahead of the changing business businesses to succeed. We want to environment. The CGMA Global partner in your journey to success by Economic Survey, a quarterly survey of ke e p i n g y o u u p d a t e d w i t h t h e over 600 management accountants information and knowledge required around the world, was released on to reach your goal. Our activities and 29 March 2012. It updates you with events in India are designed to fulfil changes in the Global Economic Index this purpose. which is compiled as an aggregate of ten economic dimensions.

During the next two months, we gear up to welcome new students joining the These and many more snippets of second intake of the MBA in Management information can be found in the following Accounting and Finance, launched pages. So enjoy the reading and hope to through our partnership with IGNOU. A hear your views, contribution and series of revision lectures for students in feedback to keep 'Pulse' in pace with April, is also part of our plan to help you your expectations. progress through your exams.

Arati Porwal We have seen a remarkable increase in Chief Representative exam entries for the May 2012 exams. The CIMA India number of students taking our gateway

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recap CIMA Global Business Challenge, India Final

From 375 teams that had registered in India for the CIMA GBC 2012, 7 teams came out all guns blazing at the National final held in Mumbai. At stake were the coveted title of National Champion, and the chance to represent India at the Global final in Colombo, Sri Lanka.

Team 1 from IIT Delhi was declared winner. Finishing second was Team Shudh from NIT Surathkal. The Best Speaker prize was won by Vyomika Sahani of Team Encore. Team Encore, from Christ

University, Bengaluru also walked away with the prize for the Best Team Broadcast Video.

A panel of eminent judges such as Robert Jelly, Executive DirectorEducation, CIMA, Amit Patwardhan, Director - Global Finance, Barclays Capital Services Ltd, Rohit Mathur, Partner - Advisory Services, Ernst & Young Pvt Ltd, Girish Bhat CFO, Gammon India Limited and Phillie Karkaria, Executive Director, Tata Realty and Infrastructure Ltd witnessed the event.

Whiz, the Accenture-CIMA Business Challenge Accenture and CIMA came together to host Whiz - a business case study competition meant for employees of Accenture Financial Services. The event, held across three cities, saw over 70 teams participating.

RSA Team from Bengaluru stole the show and was crowned the National Champion while Green Storm, from Bengaluru, was declared Runner-up.

The competition was well received by participants as well as the Accenture Leadership Team who lauded it as a novel way of employee engagement, and gaining personal knowledge and skills relevant to business. They plan to host Whiz on a much bigger scale next year.

hiz

Rise to the challenge

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Train the Trainer

A two-day 'Train the Trainer' programme was organised in Kochi and Mumbai with the objective of training faculty members of our listed tuition partners to teach the CIMA qualification as per global standards. Apart from teaching styles and techniques, the programme also covered a host of resources that partners can use for the benefit of their faculty and students.

This year we had an award winning trainer, Mr Mohammed Muhsin Tariq, with 17 years of experience in CIMA training, and Ms Tam Kam Peng, Global Head of Learning Partnership of CIMA, imparting training. Around 60 faculty members from 18 learning partners across India turned up for the sessions.

CGMA Launch Event To mark the launch of CGMA, CIMA India Liaison Office held a panel discussion on a report titled “Rebooting Business: Valuing the Human Dimension”.

The result of a survey of over 280 CEOs across the globe, the report looks at the changing paradigms of sustainable business in the evolving global economic scenario. The panel comprised of: • Mr Robert Jelly (FCMA), Executive director, CIMA Education • Mr Sriram Kameshwar (ACMA), Financial Controller, Prudential Process Management Services India Private Limited • Mr Anand Mathur, Deputy Head - HR, Barclays Bank.

(From L to R) Mr Anand Mathur, Mr Shriram Kameshwar, Mr Robert Jelly and Ms Arati Porwal

Revision Workshop A series of revision lectures was organised for all three papers of the Financial pillar, namely F1 (Financial Operations), F2 (Financial Management) and F3 (Financial Strategy) and the Enterprise pillar, namely E1 (Enterprise Operations), E2 (Enterprise Management) and E3 (Enterprise Strategy).

The sessions were conducted via the WebEx video-conferencing service.

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Times Education Boutique The Times Education Boutique is a multi-city event that has been bringing together students, guides and educational institutes from all over India for the past 11 years.

The 2012 edition was held in 15 cities over the months of April and May and saw active participation from CIMA. It was a great platform to interact with students and teachers across India and raise awareness about the CIMA qualification and its benefits.

The table alongside shows the cities where CIMA participated in the Times Education Boutique as well as the respective dates and venue details.

CITY

Dates

Venue

Ahmedabad

7 – 8 April

Rajpath Club

Pune

14 – 15 April

Hotel Le Meredian

Mumbai

20 – 22 April

MMRDA

Bengaluru

28 – 29 April

Palace Ground

Chennai

5 – 6 May

Chennai Trade Centre

Jaipur

5 – 6 May

Birla Auditorium

Delhi

11 – 13 May

Pragati Maidan

Up

ne t Second intake of joint MBA programme with IGNOU Last year, IGNOU and CIMA collaborated to offer an MBA in Management Accounting and Finance. A distance-learning programme, it was specially designed to develop skills in management accounting and finance. On clearing the programme, students stand to earn a dual qualification i.e. MBA degree from IGNOU and an Advanced Diploma in Management Accounting from CIMA.

CIMA'S

Tuition Partners

The admission process for the second batch of the joint MBA programme is already underway. The last date for receiving application forms is 31 May 2012.

To know more, visit http://www.cimaglobal.com/ignou

At present, CIMA has 25 tuition partners spread across the major cities of India.

With another five in the process of signing up, the total number of tuition partners is slated to go up from 15 in 2011 to 30 in 2012. That means more CIMA students will now have access to professional help, leading to better results in the long run. To locate a CIMA tuition provider in your city, click here.

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CIMA'S

New Alliances Ideal Classes, Mumbai

Symbiosis International University

Ideal Edusystem Pvt Ltd has signed up with CIMA as a tuition provider in Mumbai. Established in 1987, IDEAL is one of the premier coaching institutes of Maharashtra with an ISO 9001:2008 certification. You can find more about the institute here.

IMS Proschool On 7 March 2012, Symbiosis International University (SIU) and the Chartered Institute of Management Accountants, UK entered into an MOU to facilitate research and academic collaboration between them.

As per the MOU, Symbiosis School of Banking Management (SSBM) will be the learning partner of CIMA in Pune, India. They have agreed to start a study support centre for CIMA at the Pune campus of SSBM. Based on the success of the certificate courses, subsequent levels of the CIMA qualification will be introduced.

IMS Proschool, the financial certification division of IMS Learning Resources Pvt Ltd, has signed up with CIMA as a learning partner. Initially, Proschool is going to launch a full time post graduate programme in Management Accounting in Pune. Over the next 3 years, the programme will be taken to 20 more cities with a network of 100+ centres across India and a training experience of 35 years, IMS will help CIMA expand its reach to new markets in India.

To find out more about this collaboration, click here.

Referral Campaign As a professional body, CIMA aims to deliver a relevant syllabus and continuous support for qualified management accountants. You, like many other CIMA people, know best how CIMA can help support your career progression. Do you have a friend or colleague who can benefit from the CIMA qualification as well?

As a token of appreciation, you'll be entitled to gift/book vouchers worth Rs. 2000 if your friend or colleague registers for the CIMA qualification before 31 July 2012. This offer will be redeemable against any of your recommendations who register as students.

If yes, all you need to do is visit here and complete the form by 21 July 2012. We will take care of the rest.

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Member Speak Value of the Human Dimension in Organisations passion and power of a highly engaged and motivated set of people, organisational culture and leadership style. People are the dimension that can separate the best organisations from the rest.

ACMA, CGMA.

“

Recognition of the human power The value of human resources and the power of human relationships in achieving success h a v e a l w a y s b e e n r e c o g n i s e d by organisations. However, this dimension has not received as much attention as it deserves.

One of the factors that has prevented this is the difficulty in measuring and reporting the value or efficacy of the same. This is bound to change with Management Accountants increasingly expanding their scope of reporting from pure financial parameters to include broader non-financial parameters.

In the days of the Industrial Revolution and immediately thereafter, access to capital and technology became a competitive advantage. As industry expanded and competition increased, access to raw materials became a competitive advantage.

Later on, access to low cost production/ service centres and the ability to manage outsourced operations became a competitive advantage. These advantages cease to last for long as other companies soon learn and follow suit.

There is one source of sustainable competitive advantage - people.

Competitors can raise capital, purchase technology and copy innovative pricing strategies. But it's difficult to replicate the

There are however constraints to measuring non-financial value such as performance of the human dimension.

There is no direct measure of the value of human resource and this value, contrary to other assets, has the potential to increase over time with experience.

“

Sriram Kameshwar

Constraints in measuring and reporting performance of the human dimension

Besides employees, human dimension also includes customers, suppliers and investors.

Several companies are investing a lot in customer analytics to understand customer psychology and needs, emphasising on treating customers fairly and undertaking customer value segmentation. We are seeing the concept of partnering with key suppliers, rather than one-off short term pricenegotiated supply contracts, gaining ground.

In hiring too, it is not just technical prowess that would ensure success for the candidate.

Ability to understand strategy and business drivers, manage change, relationship and consensus building skills are required too.

Companies enhance employee capability through opportunities to work in crossfunctional teams, flatter organisational structure, better communication, nurturing talent pool, secondment opportunities, fiscal incentives such as stock options, etc.

Companies also realise that employees devote a large part of their life to the organisation. So, while on one hand, the a c c o u n t a b i l i t y, re s p o n s i b i l i t y a n d performance expectations are becoming more stringent, companies are also making efforts to improve the work life of the employees through fun-at-work initiatives, flexi-hours, working from home options, etc.

Physical assets like land, building, plant and machinery are recorded in the books of accounts at their purchase price.

These assets get depreciated over a period of time. However, there is no direct measure of the value of human resource and this value, contrary to other assets, has the potential to increase over time with experience.

Two machines of the same make and vintage may perform alike. But no two humans are alike.

A possible measure At the end of the day, proof of the pudding is in its eating. In the corporate world, this means: Have I created sustainable shareholder value in a socially responsible manner? All the intangibles such as value of human intellect, treasure house of customer data and the analytics thereof, strength of supplier relationships, etc. would need to be converted into a specific, meaningful, comprehensible measure that answers this question.

CGMA and CIMA qualified Management Accountants, with their flair for numbers and training that balances technical, managerial and strategic skills are best placed to develop such a measure. In the future, we would see organisations giving significant importance to this aspect as the understanding of the human dimension and the urge to optimally leverage its power grows.

To know more about the value of the human dimension in organisations, refer to the CIMA report Rebooting Business: Valuing the Human Dimension

Disclaimer: This excerpt has been taken from Sriram Kameshwar's testimonial.

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Latest Vacancies on

CIMA MYJOBS BCIL (Bengaluru) Intern Sector: Management Consultancy

WLC College (Multiple locations) Visiting faculty Sector: Education CGMA

APPLY

APPLY

Ford Business Services Center (Chennai) Financial Analysis Sector: Automobile

BCIL (Bengaluru) Executive Business/Development Sector: Property & Construction APPLY

APPLY

For more vacancies, log on to http://myjobs.cimaglobal.com/

CIMA Insights In connection with the launch of the new CGMA credential, we have launched the CGMA Global Economic Survey. It has been designed to capture the views of CGMA Management Accounting professional decision makers from around the world. The focus: global economic conditions and current topical issues.

This quarterly survey was sent to a select panel of AICPA and CIMA executives

(primarily CFOs, CEOs and Controllers) between 22 February and 13 March 2012.

Panelists were identified and baseline data was collected during a pilot survey conducted in November 2011. In total, the opinions of 618 CGMA Management Accounting professional decision makers from around the world were captured in the first quarter of 2012.

Click on the cover to go through the report in detail.

Important Dates Timetable for the May 2012 paper-based exam sessions: Tuesday, 22 May E1 (am) E3 (am) E2 (pm) G1/M1/A1 (pm)

Wednesday, 23 May P1 (am) P3 (am) P2 (pm)

Thursday, 24 May F1 (am) F3 (am) F2 (pm) T4 part B (pm) - paper or PC

Deadline dates - paper based exams

November 2012

Closing date for applying for exemptions

31 July

Completion of certificate level enable operational and management level exam entry

1 September

Exam entry opens

1 August

Closing date for exam entries

14 September (5.00pm BST)

Last date for receipt of payment of any outstanding fees by CIMA

21 September

Admission advice available to download

Mid-October

Exams

20, 21, 22 November

Exam results

Mid-January 2013

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CIMA

Applause

Congratulations on successfully achieving another step towards becoming a future business leader!

CIMA is delighted to celebrate students' achievements in gaining the Diploma in Management Accounting, the Advanced Diploma in Management Accounting and T4 part B.

India Prize Winners and Highest Placed Candidates Operational and Management Level Papers

Prize Winners

Exam Venue

Marks Scored

Country Rank

Paper P1 Paper P1 Paper P1 Paper P2 Paper E1 Paper E1 Paper E2 Paper F1 Paper F1 Paper F2 Paper F2

Shivraj Subbiah Kolla Sravan Kumar Shireen Tanweer Janki Adhia Balaji R Gul Anas Karthik Muralidharan Mithun Banerjee Shivraj Subbiah Parthiban Rathinasamy Janki Adhia

Chennai Hyderabad Mumbai Ahmedabad Chennai Cochin Mumbai Kolkata Chennai Chennai Ahmedabad

82 74 74 75 74 72 79 80 79 72 71

1 2 2 1 1 2 1 1 2 1 2

CIMA Gateway Assessment A1 CGA A1 CGA M1 CMGA M1 CMGA G1 CPGA G1 CPGA

Satish Jalan Sankey Kanodia Gayatri Iyer Seema Raj Gopinath P R Nikhil Sapre

Kolkata Kolkata Delhi Chennai Chennai Mumbai

70 63 69 69 68 68

1 2 1 1 1 1

Strategic Level Paper P3 Performance Strategy P3 Performance Strategy E3 Enterprise Strategy E3 Enterprise Strategy F3 Financial Strategy F3 Financial Strategy

Mohan Balaji G.V Anand Swaroop Lakshmi Kailas Ramya Madhuri Lakshmi Kailas Sandeep Kansal

Bengaluru Bengaluru Cochin Hyderabad Cochin Delhi

70 70 71 66 81 73

1 1 1 2 1 2

Delhi Mumbai

35 35

1 1

Test of Professional Competence T4 Part B Case Study Paper T4 Paper T4

Amit Jugia Jitendra Pipara

• In case you wish to share your achievements, please write to us at reena.dsilva@cimaglobal.com

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Student Competition In London, CIMA conducted a student competition which ran from December to April this year. The competition challenged CIMA students to review an academic journal article and provide an evaluation of the concepts and theories as well as demonstrating how the article has benefited the student in practice.

The response was quite good and out of the submissions received, a student from India, Suhas Avabruth, has been selected as the runner-up and has won the equivalent of ÂŁ100 in book vouchers.

The winner was from Singapore and the other runner up was from Sri Lanka. As part of the prize, Suhas's name will be published in the next edition of FM magazine.

This achievement is quite impressive and demonstrates that the students in India are engaging with management accounting academic literature.

Contact The student and member suppport team at the India Liaison office has been through a re-structuring to support the growing CIMA community in India.

Adios Lavina Lavina Tauro bids adieu to CIMA India as she is relocating to London for personal reasons. Lavina has been a committed CIMA support resource for all of us for over 6 years now. We wish her good luck and happiness in all her future endeavours.

Reena Dsilva joins us as Student and Member Support Manager and Sweedrina Dsouza as Student & Member Support Executive.

Tasneem continues to support prospects and students as a part of the team. Their contact details are mentioned below.

The CIMA India mailbox shall be managed and maintained by this team and they will ensure faster and better responses to your queries.

Student & Member Support Team Reena Dsilva E. reena.dsilva@cimaglobal.com M. +91 22 4237 0110 Tasneem Kapasi E. tasneem.kapasi@cimaglobal.com M. +91 22 4237 0111 Sweedrina Dsouza E. sweedrina.dsouza@cimaglobal.com M. +91 22 4237 0106 For more details, contact: CIMA India Liaison Office T. +91 22 4237 0100 +91 22 4237 0111 +91 22 3291 1383 E. india@cimaglobal.com www.cimaglobal.com/india Want to help us make CIMA Pulse better? We would love to hear from you.

Mail us your feedback, ideas and suggestions at india@cimaglobal.com.

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