cima induction seminar
TRANSCRIPT
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CIMA Induction Seminar
12 August 2009
Suites 1414-1415, 14/F Jardine House, Central.
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Induction seminar for CIMA students Page I. About CIMA 3 II. CIMA Hong Kong & Hong Kong Divisional Council 3-4 III. CIMA global contacts 5 IV. Student registration procedures 6 V. The CIMA professional qualification structure 7-8 VI. Examination details 9-11 VII. Ideal progression path in Hong Kong 12 VIII. Study resources 13-14 IX. MY CIMA 15 X. Study materials & suppliers 15 XI. Appendices
Certificate level exam registration form
CIMA Study resources brochure
CIMA Preparatory course brochure
MYCIMA guide
Online user guide
Details on 2010 syllabus
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I. About CIMA 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 recognized qualification in management accountancy, focusing on accounting in business in both the private and public sectors. CIMA is committed to upholding the highest ethical and professional standards of members and students and to maintaining public confidence in management accountancy. As a professional institute of over 171,000 members and students, CIMA has had members in Hong Kong for over 30 years. They are situated in many senior positions in leading businesses and listed companies. During this time CIMA has been actively recruiting new students to become Chartered Management Accountants in Hong Kong, who are regarded as financially trained business leaders, in both the private and public sectors.
II. CIMA Hong Kong & Hong Kong Divisional Council The Hong Kong Division has a Divisional Council, led by the Divisional President, which represents the views of all its members in Hong Kong. The Divisional Director, together with staff in Hong Kong provides member services, student support, student recruitment activities and supports the Divisional Council. CIMA Hong Kong Division Suites 1414-1415, 14/F Jardine House Central Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. [email protected] www.cimahongkong.com Opening hours: 9.30am – 5.30pm (Mon-Wed, Fri) 9.30am – 7.00pm (Thu) CIMA Hong Kong Secretariat Mr Damian Yip - Divisional Director (oversees Hong Kong operation) Ms Jovy Yeung – Student & Member Services Manager (member services, student support, education partnership) Mr Scott Lee – Marketing & Development Manager (marketing, student recruitment, employer relations) Ms Jean Wong – Operations Executive (general administration and support)
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CIMA Hong Kong Divisional Council 2009-2010 The CIMA Hong Kong Divisional Council 2009-2010 consists of 16 prominent people elected from all CIMA members, in which Mr Kenneth Chan is also holding an important role in CIMA Council.
Divisional President: Mr Leo WY CHEUNG ACMA
Director, Dietz Engineering Limited Divisional Deputy President: Mr Paul KL CHAN FCMA
Executive Director, RSL Asia Divisional Vice President: Mr Richard KENWORTHY FCMA
Finance Director, Crossroads Village CIMA Council Member: Mr Kenneth KC CHAN FCMA
Divisional Immediate Past President: Mr Michael YL CHAN FCMA
Group CEO, Manulife Holdings Berhad Other Divisional Council Members: Ms Irene SY CHENG ACMA
Director, Hong Kong Professionists Consultancy Ltd.
Dr Aidan GODDARD FCMA
Lecturer, Hong Kong Polytechnic University (SPEED) Mr Kingston KL HO FCMA
Senior Operational Risk Manager, Fortis Bank HK
Ms Amy YM LAM ACMA
Finance Director, Jardine Aviation Services Group
Dr LI Wing SUN FCMA
Senior Partner, Premier Business Consulting Co Ltd
Mr Walton WL LUK ACMA
Agency Manager, Fortis Insurance Co. (Asia) Ltd Dr Artie WC NG ACMA
Senior Lecturer, Hong Kong Polytechnic University (SPEED) Mr Jimmy KW PUN FCMA
Managing Director, Scribe Fund Administration Services (HK) Limited Dr Sidney TC SZE ACMA
CEO, Midland Financial Group Mr Hudson HS TSUI ACMA
Regional Business Operations Director - Asia Pacific, DTZ Mr Paul CP YEUNG FCMA
Vice President, Deutsche Bank AG, Hong Kong Branch
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III. CIMA global contacts CIMA Head Office 26 Chapter Street London SW1P 4NP United Kingdom T. +44 (0)20 8849 2251 F. +44 (0)20 7663 5442 E. [email protected] www.cimaglobal.com CIMA Australia Level 3, Plaza Building 95 Pitt Street, Sidney NSW 2001 Australia Toll Free No. 1800 679 996 (within Australia) T. +61 (0) 2 9776 7981 F. +61 (0) 2 9028 7275 E. [email protected] www.cimaglobal.com/australia CIMA Botswana Plot 50676, 2nd Floor, Block B BIFM Building, Fairgrounds Office Park Gaborone, Botswana Postal Address: PO Box 403475 Gaborone, Botswana Telefax. +267 395 2362 F. +267 395 2362 / 397 2982 E. [email protected] www.cimaglobal.com/botswana CIMA China Shanghai Office Unit 1905 Westgate Tower 1038 Nanjing Road (W) Shanghai 200041 P.R.China T. +86(0)21 5228 5119 Hotline. 400 820 4080 F. +86(0)21 5228 5120 E. [email protected] www.cimaglobal.com/china Beijing Office 5th floor, China Life Tower 16 Chaoyangmenwai Avenue Beijing 100020 Hotline. 400 820 4080 E: [email protected] www.cncima.com
Shenzhen Office 1121 Tower A, International Chamber of Commerce Fu Hua Yi Lu, Futian District Shenzhen 518048 T: 400 820 4080 E: [email protected] www.cncima.com CIMA Hong Kong Suites 1414-1415, 14/F Jardine House Central Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. [email protected] www.cimahongkong.com CIMA India 233, DBS Corporate Centre 2nd Floor, Raheja Chambers Free Press Journal Road 213 Nariman Point Mumbai 400 021 India T. +91 22 3291 1383 E. [email protected] www.cimaglobal.com/india CIMA Ireland 45-47 Pembroke Road Ballsbridge Dublin 4 T. +353 (0) 1 643 0400 F. +353 (0) 1 643 0401 E. [email protected] www.cimaglobal.com/ireland CIMA Malaysia Lots 1.03b & 1.05, Level 1 KPMG Tower First Avenue Bandar Utama 47800 Petaling Jaya Malaysia T. +60 (0)3 7723 0230 F. +60 (0)3 7723 0231 E. [email protected] www.cimaglobal.com/malaysia CIMA Singapore 16 Raffles Quay Unit 33-03-B, Hong Leong Building Singapore 048581 T. +65 6535 6822 F. +65 6534 3992 E. [email protected] www.cimaglobal.com/singapore
CIMA South Africa 2nd Floor, South Block, Thrupps Centre 204 Oxford Road, Illovo, Johannesburg Postal Address: PO Box 745, Northlands 2116, South Africa T. +27 (0)11 268 2555 T. 0861 CIMASA/0861 246 272 F. +27 (0)11 268 2556 E. [email protected] www.cimaglobal.com/southernafrica CIMA Sri Lanka 356 Elvitigala Mawatha Colombo 5, Sri Lanka T. +94 (0)11 250 3880 F. +94 (0) 11 250 3881 E. [email protected] www.cimaglobal.com/srilanka CIMA Switzerland CIMA Switzerland 14 rue du Rhone (CH) 1204 Geneva Switzerland T. +41 (0)22 819 1828 F. +41 (0)22 819 1998 E. [email protected] CIMA Zambia Plot No 6053, Sibweni Road Northmead, Lusaka, Zambia Postal Address: Box 30640, Lusaka, Zambia T. +260 (0)1 290 219 F. +260 (0)1 290 548 E. [email protected] www.cimaglobal.com/zambia CIMA’s global offices may change during the year, so please visit the global web links for the most up-to-date contact details. For a full list of global contacts, please visit www.cimaglobal.com/globalcontacts
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IV. Student registration procedures
1. Complete student registration online → CIMA Contact ID 2. Settle student registration fee and 2009 annual subscription fee online (GBP145) 3. Fax over the registration confirmation sheet, copies of your certificates and transcripts
of your highest qualifications to CIMA Hong Kong at +852 2507 4701 or email [email protected]
4. Wait for the email confirmation from CIMA UK regarding the exemptions granted to you, normally it takes less than 20 working days
5. Settle exemption fees online within eight weeks of receiving confirmation of your exemptions OR inform CIMA student admission department to waive your exemptions
Exemption fees in 2009: Certificate level GBP41/module Managerial level GBP67/module Strategic level GBP72/module
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V. The CIMA professional qualification structure (2005 Syllabus) CIMA Certificate in Business Accounting (certificate level) C01 Fundamentals of Management Accounting C02 Fundamentals of Financial Accounting C03 Fundamentals of Business Mathematics C04 Fundamentals of Business Economics C05 Fundamentals of Ethics, Corporate Governance and Business Law CIMA Advanced Diploma in Management Accounting (managerial level) P1 Management Accounting Performance Evaluation P2 Management Accounting Decision Management P4 Organizational Management and Information Systems P5 Integrated Management P7 Financial Accounting and Tax Principles P8 Financial Analysis Chartered Management Accountant (strategic level) P3 Management Accounting Risk and Control Strategy P6 Management Accounting Business Strategy P9 Management Accounting Financial Strategy TOPCIMA Test of Professional Competence in Management Accounting
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The CIMA professional qualification structure (2010 Syllabus)
Transition arrangement
The 2005 Qualification The 2010 Qualification
P2
P3
P1
P10
P9
P8
P7
Pro
fes
sio
nal
Co
mp
ete
nce
Performance Pillar Financial Pillar
Paper P1 -
Performance
Operations
Paper P2 -
Performance
Management
Enterprise Pillar
Paper F2 -
Financial
Management
Paper F1 -
Financial
Operations
Paper F3 -
Financial
Strategy
Paper P3 -
Performance
Strategy
Paper E3 -
Enterprise
Strategy
Test of Professional Competence in Management Accounting
Pre-requisite Entry Requirements (e.g. CIMA Certificate in Business Accounting)
Str
ate
gic
Lev
el
Man
ag
em
en
t
Lev
el
Paper E1 -
Enterprise
Operations
Paper E2 -
Enterprise
Management
Award - CIMA Advanced Diploma in Management Accounting
Award - CIMA Diploma in Management Accounting
Op
era
tio
na
l
Le
ve
l
Award – Member of the Chartered Institute of Management Accountants
Part A – Initial Professional
Development – Assessment of
Work Based Practical Experience
Part B – Case Study Examination
based on Preseen and Unseen
Material
P5
P6
P4
A ‘one for one’ match
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VI. Examination details Certificate level (2 hours exam) (no change in syllabus) Exam format ALL multiple choice computer based assessment Pass mark 50% Exam sitting All certificate level modules can be taken at any time of the year, however if you are planning to sit Managerial level papers at the next paper based exam sitting you must check the deadline by which you must have completed the Certificate level subjects in order to be eligible to enter. If you wish to sit Managerial level exams in November 2009 you must complete all Certificate level computer based assessments (CBAs) by 1 September 2009. Exam fee HKD930/module Exam centre and registration Please register exams directly with British Council: 3 Supreme Court Road Admiralty Hong Kong T: 2913 5100 E: [email protected] Opening hours 9.00am – 8.30pm (Mon – Fri) 9.00am – 6.00pm (Sat) For further details, please refer to: http://www.britishcouncil.org/hongkong-exams-professional-and-academic-exams-cima2.htm Exam results The exam results will be sent to students by post one week after the exam date. Managerial, Strategic level and TOPCIMA (3 hours exam) (Operational, Management, Strategic and Professional competence level under the 2010 syllabus) Exam format Essay typed paper exam Pass mark 50% Exam sitting CIMA paper based exams are held twice a year, in May and November. The closing date of exam registration will be in mid-March and mid-September respectively. You must complete and pass all Managerial level exams (2010 syllabus: Operational level and Management level) before you can sit the Strategic level exams. When attempting the Strategic level modules, you must sit all 3 exams (P3, P6, P9) (2010 syllabus: P3, E3, F3) together at the first sitting. Exam fees You must pay all fees on-line when you enter for the exams. Managerial level GBP67/module Strategic level GBP72/module TOPCIMA GBP92
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Exam centre and registration ALL paper based exams will be taken at HKU SPACE. Online exam entry is available at www.cimaglobal.com/examentry. Once you have completed online exam entry you will receive an email within 24 hours confirming your entry. Should you not receive this email please go to your account online and view ‘My existing exam entry’. If you have entered successfully the centre and papers you have selected will be listed. If this area is empty, you will need to go to incomplete exam entry to complete your entry. An Admission Advice will be available via My CIMA before the exams. Cancellations and changes We do not accept cancellations and will not refund fees. Strategic level papers (P3, E3, F3) under 2010 syllabus A pre-seen case study is common to all 3 strategic level papers will be available to download from our website. Students are advised to download the case study and familiarize yourself with it before the exam. Test of Professional Competence in Management Accounting The Test of Professional Competence in Management Accounting comprises two component parts that must both be achieved in order to complete the test. Credits are used to measure success, rather than marks. To pass the Test of Professional Competence in Management Accounting, students must achieve an aggregated minimum of 75 credits – comprising a minimum of 50 credits for Part A (maximum 50 credits) and a minimum of 25 credits for Part B (maximum of 50 credits). Part A and Part B should be taken concurrently, although either can be taken in any order once all strategic level examinations have been completed. The overall result for the Test of Professional Competence in Management Accounting can only be given when both component parts have been completed. Part A – Initial Professional Development – Work Based Practical Experience All students must prepare and submit a ‘CIMA Career Profile’ for assessment of their personal work based practical experience and skills development. An approved Career Profile is awarded 50 credits – the amount needed to meet the requirements for Part A of the Test of Professional Competence in Management Accounting. Part B Case Study Examination Students must sit and pass the Case Study examination, 25 credits must be awarded to meet the minimum requirements for Part B of the Test of Professional Competence in Management Accounting. TOPCIMA case study pre-seen material The pre-seen material and assessment matrix is available to download from our website http://www2.cimaglobal.com/cps/rde/xchg/SID-0A82C289-3B06863A/live/root.xsl/2824.htm. It is your responsibility to download this material and analyze and familiarize yourself with it before the exam. A ‘clean’ copy of the pre-seen material, the additional ‘unseen’ material, the assessment matrix, the exam requirement and the relevant maths table will be given to you in the exam. You can’t take any notes into the exam. Attendance slip receipts After each exam sitting you must keep your Attendance Slip receipt that you received for each paper sat. The receipt must be kept for at least 4 months. Exams results To receive your results by email, you need to register beforehand on our website via my personal details and my communication preference. You can also look up your exam results on the website without having to register beforehand. We send exam results out as follows: May exams end of July November exams end of January
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Sample exam timetable
Tuesday Wednesday Thursday
Morning session 9:10am to 12:30pm (20mins reading time)
Paper P1 Paper P6
Paper P2 Paper P9
Paper P5 Paper P3
Afternoon session 1:40pm to 5:00pm (20mins reading time)
Paper P8
Paper P4
Paper P7 P10 TOPCIMA
Chartered Management Accountant On successful completion of the Test of Professional Competence in Management Accounting, students apply to be elected as members of the Charted Institute of Management Accountings.
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VII. Ideal progression path in Hong Kong
Timetable for HK students taking November 09 exam
Induction seminar 12-Aug-09
Study materials available
Exam registration
Start of study
Preparatory course
Exam
November 2009 Diet
Paper 1 Performance Evaluation
15-Jul-09 3-Aug-09 13-Aug-09 16-Sep-09 24-Nov-09
Paper 2 Decision Management
15-Jul-09 3-Aug-09 13-Aug-09 15-Sep-09 25-Nov-09
May 2010 Diet
Paper E1 Enterprise Operations
15-Jan-10 1-Feb-10 12-Feb-10 15-Mar-10 25-May-10
Paper E2 Enterprise Management
15-Jan-10 1-Feb-10 12-Feb-10 16-Mar-10 26-May-10
November 2010 Diet
Paper F1 Financial Operations
15-Jul-10 1-Aug-10 12-Aug-10 14-Sep-10 23-Nov-10
Paper F2 Financial Management
15-Jul-10 1-Aug-10 12-Aug-10 15-Sep-10 24-Nov-10
* Award – CIMA Diploma in Management Accounting
* Award – CIMA Advanced Diploma in Management Accounting
May 2011 Diet
Paper E3 Enterprise Strategy
15-Jan-11 1-Feb-11 12-Feb-11 16-Mar-11 24-May-11
Paper P3 Performance Strategy
15-Jan-11 1-Feb-11 12-Feb-11 15-Apr-11 25-May-11
Paper F3 Financial Strategy
15-Jan-11 1-Feb-11 12-Feb-11 17-Mar-11 26-May-11
Prepare and submit a ‘CIMA Career Profile’ for the Test of Professional Competence in Management Accounting Part A – assessment of work based practical experience
November 2011 Diet
TOPCIMA – Part B Case Study Exam
15-Jul-11 1-Aug-11 12-Aug-11 14-Oct-11 24-Nov-11
* Elected as a member of the Chartered Institute of Management Accountants ***The above dates are all tentative and subject to change ***For certificate level students who wish to sit managerial level exams in November 2009, you must have completed all of your certificate level subjects by 1 September 2009
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VIII. Study resources (please refer to the CIMA study resources brochure for details) 1. CIMA learning system
The official study materials endorsed by CIMA Fully revised with new examples and case studies Written by the CIMA Faculty Complete integrated package incorporating syllabus guidance, full text,
recommended articles, revision guides and extensive question practice – everything you need to pass your exam
2. Exam practice kit
Exam questions with type and weighting to match the format of the exam Fully worked model answers to test your knowledge against CIMA official Q&As for May and November Summaries of key theory
3. Revision cards
Exam–focused, concise revision notes that identify key topics Diagrams and tables throughout that reinforce key concepts and aid memory
retention and recall Pocket sized – ideal for revision at any time
4. CIMA Preparatory courses (please refer to the CIMA preparatory courses brochure for
details)
CIMA (for P1,P2,P4,P5,P6,P7,P8,P9) (2010 syllabus: P1, P2, E1, E2, F1, F2, E3, F3)
Enquiries: 3741-1957 HKICPA (for P3 and TOPCIMA) (2010 syllabus: P3 and Test of Professional
Competence in Management Accounting Part B)
Enquiries: 2287-7058 5. CIMA Study (http://cimastudy.com/)
Complete on-line study material with text, interactive elements, practice Q & A, test Q & A, review questions, key to solution, actual solution and exam tips.
120 hours of learning material for each course. CIMA Terminology database CIMA syllabus summary Available for Certificate courses C02, C03 Strategic courses P3 P6 P9
(2010 syllabus:P3 E3 F3) and Managerial courses P1 P2 P4 P5 P7 P8 (2010 syllabus: P1 P2 E1 E2 F1 F2)
UK £50 (discount offered for 2 or more modules) 6. CIMA past exam papers and suggested answers
Past exam questions and suggested answers can be downloaded from ‘MYCIMA’ at no extra cost
7. CIMA website (www.cimaglobal.com)
Past exam questions and post exam guides at can be downloaded from CIMA
website at http://www2.cimaglobal.com/cps/rde/xchg/SID-0A82C289-
6C975F5A/live/root.xsl/1328.htm
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8. Velocity (bi-monthly e-magazine for students) http://www2.cimaglobal.com/cps/rde/xchg/SID-0A82C289-6C975F5A/live/root.xsl/velocityjun08.htm
Provide plenty of guidance to help you get ready for your exams Careers advice for students who want to know more about the great jobs that
CIMA's globally recognised qualification leads to Special features include a chance to put a question to an assessor, and a practice
exam question and model answer for you to use as part of your study plan 9. Financial Management magazine
For all CIMA students and members 10 copies per year by post
10. Study buddy group
You will be receiving an invitation to join the study buddy group in mid-Sep if you have registered for November 2009 exam. Contact details of your group members will be given to you, so you could arrange group meetings, discussions and share the study information with your group members on your own.
11. Library
The library, located at the CIMA Hong Kong Office, is open to both CIMA members and students. Your CIMA Contact ID as well as your HKID card will be recorded when borrowing library materials. Students can borrow up to 3 items per visit and the loan period is 14 days.
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IX. MYCIMA (please refer to the MYCIMA guide and Online user guide for details)
You can access to ‘MYCIMA’ by entering your CIMA Contact ID and a password to: - Update personal information - Register of exams - Check on exam results - Settle payment of fees - Download Financial Management Magazine & Velocity e-magazine - Download past exam papers and suggested answers
X. Study materials & suppliers There are a number of sources from which you can obtain a series of study materials for the CIMA examinations. Elsevier – CIMA official study system
CIMA Hong Kong office
Suites 1414-1415, 14/F Jardine House Central Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. [email protected] www.cimahongkong.com
Opening hours: 9.30am – 5.30pm (Mon-Wed, Fri) 9.30am – 7.00pm (Thu)
Bloomsbury Books Limited Shop 102, 1/F, Hutchison House, 10 Harcourt Road, Central, Hong Kong www.bloomsbury.com.hk T. +852 2110 9828
Kaplan Publishing www.ftckaplan.com BPP Publishing Limited www.bpp.com