CIMA Hong Kong January-February 2012 newsletter

HONG KONG

UPCOMING EVENTS Joint CIMA and CMA Canada monthly networking lunch The upcoming causal networking lunch in March 2012 is open to all members and students of CIMA and CMA Canada. This is a chance to catch up with old friends and meet new ones, so help us make this event enjoyable and bring your friends along too!

Date:

Wednesday 14 March 2012

Time:

1.00-2.00pm

Venue:

12/F The Chinese Club, 21 to 22 Connaught Road Central, Hong Kong

Fee:

Chinese lunch at HK$120 per person. Please settle your own bill.

Registration:

A table is reserved under Mr Yau Yin Kwan, Joseph of CMA Canada.

If you are interested to join us, please email hongkong@cimaglobal.com

CPD networking seminar – Shared Service supported by Resources Global Professionals Is your organization faced with the challenges of meeting cost saving target through the setup of a Shared Services Centre? Join this exclusive event with practical sharing with CIMA and Resources Global Professionals. You will gain the powerful insights on how to maximize the benefit by setting up Shared Services for your organization. In the event, speakers will also address the following areas: • The benefits of Shared Services; • The requirements for achieving the benefit of Shared Services; • Critical-to-Success areas for setting up Shared Services; • Shared Services experience sharing on people change management and business process outsourcing.

Date:

Friday 16 March 2012

Time:

6.30pm (cocktail reception), 7.15pm (Presentation and panel discussion)

Venue:

HKU SPACE Learning Centre, Rm 301, 3/F, Admiralty Centre, 18 Harcourt Road, Hong Kong (Exit A of Admiralty MTR Station)

Language:

English

Fee:

Gratis

CPD:

1.0 hour

Registration:

Speaker profile:

Please register online on or before 9 March 2012 Please click here

CIMA HONG KONG

CIMA Hong Kong Newsletter January/February 2012

JANUARY / FEBRUARY 2012

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NEWS CGMA launch The Chartered Global Management Accountant (CGMA) designation was launched on 31 January 2012. CGMA is the result of a joint venture between the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management Accountants (CIMA) in an effort to produce a 'gold standard' designation for management accounting globally.

The designation is a single global quality standard, so you can move CGMAs with confidence around the organisation and around the world.

CGMAs are business strategists who apply non-financial, qualitative information alongside financial analysis to understand all aspects of a business.

You can trust CGMAs to guide and support critical business decisions and drive strong business performance.

All CIMA members are automatically entitled to use the CGMA designation.

Rebooting business: Valuing the human dimension This report marks the launch of the new Chartered Global Management Accountant (CGMA) designation. We surveyed 280 CEOs online from over 21 countries across the world to understand how they viewed current global challenges and what they saw as the priorities in leading their way through them. Their overwhelming response was that the human dimensions of business – for example, customer and supplier relationships, talent development as well as intellectual capital – will be the focus over the next 18-24 months.

The more detailed sections of the report explore the results of our CEO survey in more depth and provide additional insights from our C-suite interviews around the following core themes: 1. Understanding and unlocking value in the human dimension.

2. Short-term focus versus long-term sustainable success.

3. Grasping the power of transparency.

4. Working in collaboration to connect the dots. http://www.cgma.org/Resources/Reports/DownloadableDocuments/CGMA_launch_report.pdf

CIMA presents Gateway scholarships to graduates of Manchester Business School Since the launching of CIMA Masters Gateway in 2010 we have collaborated with many university partners to provide scholarships in encouraging their MBA graduates to pursue CIMA as well as praising the excellent performance of their students. On 18 January Mr. Damian Yip, Market Director presented a Certificate of Attainment together with GBP500 worth of scholarship to Mr Steven Lin in congratulating his outstanding achievement in the 2011 gateway exam.

“Through setting up scholarship schemes with top universities we can surely attract more high calibre to join CIMA, and hence contribute to the association in various aspects in the near future ” commented Damian.

Steven Lin, the award winner and graduate from the Manchester Business School revealed the reason for pursuing the management accounting professional qualification after MBA. “CIMA is a professional management accounting qualification that differs from MBA degree. It provides insight for finance skills that should be competent in related position both in corporate banking and its clients. That's why I want to attend the gateway exam.”

Meanwhile he also shared some tips for students sitting or planning to sit the exam. “Knowledge of basis accounting is needed for preparing the gateway exam. Attending official preparation courses also saved my time and raised my self-confidence.”

We shall look forward to presenting more scholarships to remarkable performances in future.

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CIMA Hong Kong Newsletter January/February 2012

NEWS New staff in Hong Kong I would like to welcome Ms Joanna Cheung as the Senior Executive, Member and Student Development in Hong Kong where she will be responsible for supporting our students/members and retention marketing activities. Joanna joins us from the China Education Group, where she was organising executive programmes from Stanford University (Business School) and Harvard University (Law School) in Asia. She has also worked at The College of Surgeons of Hong Kong and Lingnan University. Joanna is a graduate from The Hong Kong Baptist University.

Please welcome Joanna to the team.

CIMA member on the move Dr Artie Ng FCMA, CGMA Dr. Ng has been appointed as the Head of Cluster (Business) at College of Professional and Continuing Education, The Hong Kong Polytechnic University (PolyU). He continues to serve as Senior Lecturer at School of Professional Education & Executive Development of PolyU. Prior to Poly U, Artie has worked in Lingnan University and the University of Hong Kong. He also has over 15 years of professional experience in accounting and finance through working for U.S. multinational companies in the energy sector as well as for Coopers & Lybrand. Dr Ng is also a Fellow with Public Policy Research Institute of PolyU and a committee member of the CIMA Hong Kong Branch.

Please e-mail us your new details at hongkong@cimaglobal.com if you are also on the move.

STUDENT SERVICES CIMA Preparatory courses on paper F2, F3, E3, P3 and T4 CIMA will be organizing a series of preparatory courses for students in Hong Kong who will be taking the CIMA professional examinations in May 2012.

Paper

Class date

Time

Venue

Fee

F2 Financial Management

20, 27 Mar 3, 10, 17, 24 Apr

6.30 – 10.00pm

CIMA office

HK$2,500

F3 Financial Strategy

21, 28 Mar 18, 25 Apr 2, 9 May

6.30 – 10.00pm

CIMA office

HK$2,500

P3 Performance Strategy

31 Mar 21 Apr 5 May

9.30 – 17.30pm

CIMA office

HK$2,500

E3 Enterprise Strategy

24 Mar 14, 28 Apr

9.30 – 17.30pm

CIMA office

HK$2,500

T4 Test of Professional Competence in Management Accounting

22, 29 Mar 12, 19, 26 Apr 3 May

6.30 – 10.00pm

CIMA office

HK$2,500

Interested parties please download the application form at www.cimaglobal.com/Our-locations/HongKong/Students/ and submit it as soon as possible as places are very limited. Application will be processed on a first come, first served basis.

CIMA Hong Kong Newsletter January/February 2012

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STUDENT SERVICES Free P2 sessions by Kaplan Kaplan will be running free P2 sessions for the May 2012 exams. The sessions will be held on 28 March, 11 April and 18 April 2012. The topics for the three sessions are: 28 March 2012: Relevant costs 11 April 2012: Achieving competitive advantage and pricing 18 April 2012: Transfer pricing and performance management For registration and more information please go to the link: http://financial.kaplan.co.uk/TrainingandQuals/Accountancy/CIMA/revising-for-cima-exams/Pages/CIMA-P2-Masterclass.aspx?utm_ source=cimaglobal&utm_medium=email&utm_campaign=p2_masterclass

Induction Seminar To facilitate all newcomers, an induction seminar was held on 15 and 23 Feb. The seminar covered the following: • the administrative procedures and important dates • the examination structure and regulations • the overview of the syllabus • the ideal study pathway • the study resources available • support services from Hong Kong and UK. If you missed the Induction Seminar and would like to receive all the important information, please email to Joanna Cheung: joanna.cheung@cimaglobal.com

PAST EVENTS Hiking at the Hong Kong Geopark CIMA social event, hiking at the Hong Kong Geopark was held on 8 January 2012. Our Hong Kong Branch Committee member Ms Amy Lam and Divisional Past President Mr. Leo Cheung led a group of over 40 members/families/friends to spend an enjoyable day in one of the HK Geopark attraction, Ma Shi Chau on 8th January. It was a sunny day and along the 2-hours walk we had the chance to touch and learn about the various types of rock formed 280 million years ago. This was then followed by a delicious roast pigeon lunch at Lung Wah Restaurant in Shatin.

Asian Financial Forum 2012 This year again we were invited to support the forum which attracted over 2000 senior business leaders to Hong Kong on 16th and 17th January. We were able to supply a batch of recent thought leadership material to be placed at the resource centre for delegates.

A distinguished fellow Douglas Flint FCMA CGMA, Group Chairman of HSBC Holdings was invited to share his views on the panel discussion on global investment. Fitting into his busy schedule Douglas was also invited to a panel discussion on the global business environment at the CGMA launch (see above) latter in the month. If you missed it, you can see it here at the webcast.

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CIMA Hong Kong Newsletter January/February 2012

PAST EVENTS Spring cocktail reception To celebrate the year of Dragon, CIMA Hong Kong Branch and the branch committee organized a spring cocktail reception at the British Consulate General. Over 90 members joined the cocktail on the 7th February and it was our greatest honour to have Mr Paul Lynch, Deputy Head of Mission attending the cocktail and as our officiating guest. After the welcome speech delivered by Mr Lynch and our branch president, Mr Richard Kenworthy, the branch committee gave a toasting to all. This was followed by a lucky draw and all the participants enjoyed the cheerful moment that evening!

Other past events and engagements CIMA supports the ACT Cash & Treasury Management Conference Richard Kenworthy, Chairman of the Hong Kong Branch attended the 2012 HKICS Annual Dinner CIMA supported the Kornerstone Talent Development Forum 2012 Staff conducted a career talk at Open University Staff conducted a talk on the GBC at the Hong Kong Polytechnic University Staff conducted a workshop for T4 exam Staff conducted a talk on the GBC at CUHK Staff conducted a Career talk at City University of Hong Kong Staff conducted a talk on the GBC at the University of Hong Kong Staff conducted a workshop for Strategic exams CIMA booth at the Education & Career Exhibition 2012 Induction seminar for CIMA new students – English session CIMA supports the 2012 Chief Executive Election Forum Staff attended the Cocktail reception at HKU Space CIMA participated in the MBA and Postgraduate fair organized by A-performances Induction seminar for CIMA new students – Cantonese session CIMA supports refugee run organized by Crossroads

11 January 2012 12 January 2012 12 January 2012 13 January 2012 18 January 2012 2 February 2012 3 February 2012 7 February 2012 8 February 2012 8 February 2012 9-12 February 2012 15 February 2012 15 February 2012 17 February 2012 23 February 2012 23 February 2012 25 February 2012

CONTACT US CIMA Hong Kong Office Suites 2005 Tower One Times Square 1 Matheson Street Causeway Bay Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. hongkong@cimaglobal.com www.cimahongkong.com Opening hours 9.30am-5.30pm (Monday-Wednesday, Friday) 9.30am-7.00pm (Thursday)

CIMA Hong Kong Newsletter January/February 2012

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