The Bottom LineFebruary • March 2018

Issue 107

CGMAs on the moveCIMA-SAICA exam success

FCMA breakfasthighlights

Pay your 2018 subs!Reap the benefits

ContentsPG 1. Note from RVP

PG 3. Benefits of membership

PG 3. TBL advertising rates

PG 4/5. CGMAs on the move

PG 6. Technology and government performance

PG 7. FCMA breakfast highlights

PG 8. Who says you can’t study during the holidays?

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The first month of the New Year has already passed. 2018 is in full swing at the Association and promises to be an engaging year.

Last year saw many changes to the brand as we know it. Indeed, our biggest change is without a doubt the transformation into the Association. With our refreshed office signage, new logos on display and company name changes, we continue to be very excited to live and operate under the Association and to remember that we are part of an organisation that drives a dynamic profession that works every day to build trust, create opportunity, and grow prosperity around the world.

I am confident that the Association in Africa will continue to work to align our practices in order to improve how we do things. Our goal is to eliminate inefficiencies, redesign business processes so that we can improve what we do, drive new revenue and value, and give our members better strategic and cost-effective support. I believe that living these principles everyday will resound in everything we do and reflect in our future successes.

The one thing that continues to astound me is the power of the CGMA designation.

One of the major successes of 2017 that has already manifested itself in 2018 is the CIMA-SAICA MPA. This MPA signifies an agreement of cooperation between the two bodies in South Africa that will allow members of both bodies to expedite the route to each other’s qualification. Last year our first group of students of the SAICA-CIMA route completed their exams in pursuit of the dual designation. This serves to prove that the CGMA designation is highly sought after. Featured in this edition of The Bottom Line newsletter is an insightful interview with one of the students who has successfully earned the dual designation.

I am confident when I say that the CGMA designation has strengthened over the years and is now highly desirable by professionals and global organisations. The CGMA designation denotes a particular set of skills and attributes that are desirable in almost any industry. Employers know that CGMA designation holders are committed to lifelong learning and career development

Note from the RVP

Badi Promesse FCMA, CGMA, MBA, PgD Man, Dip AIBM (Fin)Regional Vice President: Africa

and are consequently adaptable in a constantly changing world. Professional accountants have the opportunity to take advantage of global career opportunities and the flexibility to change careers across industries.

These are great achievements worth mentioning and I would like to use these accomplishments to set the tone and standard for a fruitful 2018.

Chart a newlearning pathwithout limits.The CGMA Store is designed to keep you one step ahead. Now you have an unprecedented choice of CPD resources in leadership, strategy, communication, risk andtechnology at your fingertips.

It’s more important than ever to stay at the leading-edgeof learning and innovation and our professionally curatedresources help you to develop exactly where you need to,whatever stage you’re at in your career.

Go to CGMAStore.com today.

© 2018 Association of International Certified Professional Accountants. All rights reserved. CIMA and The Chartered Institute of Management Accounts are trademarks of The Chartered Institute of Management Accountants and are registered in the United Kingdom and other countries. The Globe Design is a trademark owned by the Association of International Certified Professional Accountants and licensed to CIMA.

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Being a CIMA student and member carries so many benefits, and sometimes it’s easy to forget what’s on offer and where to find support and advice on your studies. We’re here to support you every step of the way as you work hard to attain the CGMA designation and career success.

As a student, you have access to a wide range of study materials such as official CIMA textbooks, exam preparation tools, and a study planner, amongst many other resources on the CIMA website.

As a member, you get access to a wide range of benefits and services to keep you at the forefront of your profession. A new interactive tool brings these together – visit our new page for members on the CIMA website to explore what’s available to you and ensure you’re making the most of your membership.

Subscriptions

Annual subscription - fellow GBP293

Annual subscription - associate GBP278

Annual subscription - retired members (for full services) GBP58

Remission ACMA or FCMA GBP73

Students GBP110

Students who have passed theStrategic level case study exam GBP264

The Bottom Line is the Association’s official newsletter in Africa. Each edition is packed with compelling features, in-depth reports, industry insights and Association news in Africa. Placing your advert in The Bottom Line is the best way to:

• Make your brand visible to active CIMA members and students• Feature amongst the latest news from around the continent• Reach students who seek your services• Be a part of driving the Association’s presence in Africa

Submit your advert to ayodhya.pillay@aicpa-cima.com If you send us your advert before 28 February, you will get a 50% discount.

Reap the benefits of being a CIMA member – pay your 2018 subs

Advertise in The Bottom Line and reach over 25 000 CIMA members and students

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CGMAs on the move:

CIMA-SAICA debutants

report positively on exams

Last year the Association of International Certified Professional Accountants (the Association) and the South African Institute of Chartered Accountants (SAICA) signed an agreement that serves to further strengthen the accounting profession. This MPA signifies an agreement of cooperation between the two bodies that will allow members of both bodies to expedite the route to a dual qualification.

The CGMA designation denotes an expertise in the management accounting field and is held by more than 150 000 professionals around the world. SAICA members who complete the CIMA qualification via the special route will be supported by the world’s biggest professional body of management accountants.

In turn, CIMA members are now able to fast track access to the SAICA designation by writing and passing the Initial Test of Competence (ITC) and completing SAICA training, the length of which depends on work experience.

Last year our first group of students of the CIMA-SAICA route completed their exams in pursuit of the dual designation. We are thrilled to announce that the students achieved a 100% pass rate! This is a great achievement for both professional bodies and the students that took the CIMA exams.

Q: What inspired you to pursue the CGMA designation?A: I am in a management accounting role and I felt that the CIMA qualification would enhance my current role.

Q: How has completing the CIMA-SAICA route helped you in your career progression?A: I feel that I have an advantage over all the other CA (SA)’s and the other CGMA’s as l have a more useful skill set than either a CA (SA) or a CGMA.

Q: Describe the structure of the course and please share your study tips.A: The weekly lectures and the four full day classes for the case study were extremely useful and ensured we diligently sat at a desk and worked through mock exams.

Q: What are the benefits of studying through a tuition provider?A: The tuition provider provides study aids and

guidance from its years of experience, which prove useful to a student attempting the course for the first time.

Q: How did you balance your work and family commitments while completing the

qualification?A: I had to ensure I spent time studying and with my family. I had to therefore ensure that I spent time consistently on studying and not leaving it to the last minute. I studied daily and this ensured I could spend time with family and study.

Q: What advice would you provide to professionals who want to pursue this route to the CGMA designation?A: If management accounting is for you, ensure you do it via a tuition provider. The CIMA course encourages one to think holistically, which is something I thoroughly enjoyed.

We caught up with one of the students, Standard Bank Finance Manager Dhiren Mistry, ACMA, CGMA, CA(SA) who spoke about the value that the CIMA qualification has demonstrated in his career.

I feel that I have an advantage

over all the other CA(SA)’s

Dhiren MistryACMA, CGMA, CA(SA)

Congratulations to all students who

have acheived dual designation

Christopher von der Heyden

Hiran Magan

Jacques Verdoes

Precious Nkosi

Robyn Williams

Sandra van Eeden ACMA, CGMA, CA(SA)

Zenzele Thwala

How does technology improve local government performance?Modern data and communications technology no longer belong exclusively to private businesses. Government entities that are serious about improving service delivery and communicating openly with citizens have started using technology to form open lines of communication with citizens. The CGMA report, Transformation and Transparency: managing local government performance found that technology adoption is the biggest area where local government can improve when it comes to service delivery. The report concluded that information must be accessible, relevant, and timely in order to support public services.

In light of this, governments around the world have started using technological and digital tools to enhance services. This process is supported by digitalisation, the practice of using digital technologies to do things better. The benefits of using digital services include less paperwork and few phone calls, a real-time audit trail, saving money, and the like.

How do governments use data?

The digital revolution continues to have a substantial impact as government entities employ various communications technologies such as the cloud, data analytics, social media, and mobile solutions. Government has recognised that using these contemporary methods can provide services to citizens and other stakeholders and improve operational quality and efficiency. However, utilising the mentioned technologies is not as beneficial if communication with citizens is not timely and accurate. Additionally, two-way communication between government and citizens must be encouraged to establish open dialogue.

Advantages of using social media to communicate with citizens Indeed, there are many advantages of an effective communication plan. Today, many organisations use social media very well to update citizens with news and public announcements. Social media possess the following characteristics that make it suitable for large-scale communication: • Immediacy • Trustworthiness • Relevance • Two-way communication

Open data In an ideal democracy citizens would be able to freely use, re-use and redistribute data for any purpose, without restriction. Currently many government websites publish useful data, but these are not designed to be shared. For data to be truly open it should be available online, open-licensed, machine-readable, available in bulk and free of charge. This would reduce the time and money that citizens need to fully understand what government is doing.

In conclusion, governments and public institutions would do well to recognise the opportunity for collaboration that is presented by technology. Business partnering is an excellent tool for better governance, and the use of technology is a foundation for innovation, transformation, and management. Find out more: http://bit.ly/2DZlQAE

FCMA breakfast highlights

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We treated our FCMAs to an exclusive breakfast at Four Seasons Hotel The Westcliff in Johannesburg hosted by CIMA Regional Vice President, Africa: Badi Promesse, FCMA, CGMA, MBA, PgD Man, Dip AIBN (Fin). Attendees enjoyed the networking opportunity as well as an inspiring keynote address from Professor Mervyn King, FCMA, CGMA.

Anytime.Anywhere.Access CPD courses.

Find out what you could learn today at: cimaondemand.com

CIMA on demand is our catalogue of over 130 online courses, designed for busy finance and business professionals who need training that’s flexible.

With a running time of up to 90 minutes, the courses cover a variety of topics including management accounting, financial reporting, tax, as well as personal and management skills.

CIMA on demand

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Who says you can’t study during the holidays?Preparing for your CIMA exams is not an easy feat, and we are always inspired by students’ efforts and the sacrifices they make. We spoke to Charmain Rabie, a dedicated student who took time off from the Festive Season to study for her exams.

Q: When did you start with CIMA?A: I started in July 2017.

Q: What made you decide to pursue the CIMA qualification?A: My first introduction to CIMA was in 2013 through a passionate Organisational Management Lecturer at the university I had attended. Her high regard for the CIMA qualification sparked an interest to investigate the qualification.

Q: Which exams have you completed?A: Thus far I have successfully completed the F1 examination.

Q: How has studying the CIMA qualification helped you in your job or career as a whole?A: In interviews I have received a welcoming response when prospective employers notice my current CIMA studies. I am actively seeking career opportunities that will provide me with the platform to continue my CIMA studies together with exposure to gain the necessary experience needed for the practical experience requirements.

Q: What tips do you have for students who have to juggle work, family responsibilities and studying?A: My advice would be to set realistic goals and map your study plan out on a calendar. Block off your calendar to include time off for special days like birthdays and other responsibilities that cannot be utilised as study days. Try and obtain maximum benefit out of resources, whether it is studying at the library where you have acces to free internet or booking a baby sitter so that you can have a good exam preparation study session. Lastly, celebrate every small victory on your way towards your main goal. These small achievements will make your main goal seem less out of reach.

Q: You were studying during the festive season. Explain the kind of dedication that one needs to pursue a CIMA qualification and what the rewards are.A: I was only able to pursue a tertiary education at a later stage in life and I believe that because of this setback I have a hunger to succeed. Furthermore, as much as my CIMA studies is towards my own career advancement, the main dedication driving force is my three-year-old son. Any parent wants the best for their children but as a single parent that full responsibility rests with me and failure is never an option.

Q: Please share a few tips on time management, studying, and how to use the resources available to complete your studies successfully. A: Once you have mapped out your realistic study plan you should use your time and study resources smartly. Finding balance between textbook studies, online lecture tutorials, practice questions and if possible additional practice questions and mock exams is important. Book your exams as soon as possible. This will further motivate you to keep on track.

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© 2018 Association of International Certi�ed Professional Accountants. All rights reserved. CIMA and The Chartered Institute of Management Accounts are trademarks of The Chartered Institute of Management Accountants and areregistered in the United Kingdom and other countries. The Globe Design is a trademark owned by the Association of International Certi�ed Professional Accountants and licensed to CIMA.