Information examination and computerized business to shape some portion of bookkeeping courses

"I need to accomplish something in 10 years that doesn't exist today," says Adam Coyne, a 23-year-old understudy at Xavier University in Ohio. He isn't contemplating mechanical autonomy or man-made reasoning, nonetheless — he is chipping away at an experts in bookkeeping.

"Rising advances, for example, blockchain and AI, truly catch my consideration," says Mr Coyne. "I need to work with new advancements like this and discover how they can identify with bookkeeping."

Understudies, for example, Mr Coyne, who try to move toward becoming administration bookkeepers (the individuals who work in-house at organizations or associations), progressively need innovation and information examination learning to propel their vocations.

Bookkeeping affirmations —, for example, the Certified Management Accountant (CMA), which Mr Coyne examined before his lords — are additionally changing to keep pace with this pattern.

The fundamental bookkeeping learning and abilities —, for example, income acknowledgment, planning, revealing and execution the executives — stay basic. In any case, the rising tide of information and frameworks the board that bookkeepers use to settle on choices and oversee assets implies they additionally need information and examination aptitudes, close by learning of innovation.

This is driven by interest from business and bosses. "A greater amount of the value-based work done today by bookkeepers will be mechanized by mechanical procedure," says Christian Cuzick, VP of money at Johnson and Johnson Surgical Vision, a backup that has some expertise in eye wellbeing.

"The job of the administration bookkeeper will be progressively centered around conveying experiences from information examination for business choices," he includes.

Mr Coyne considered the CMA to enable him to get a foot on the main rung of the administration bookkeeper stepping stool. The accreditation was propelled in 1972 with the point of institutionalizing and testing bookkeeping learning and aptitudes.

Understudies must have two years' work understanding and a lone wolves degree or expert bookkeeping accreditation to apply. They should then finish two tests that test 11 capabilities, from inward controls to hazard the board, just as composing papers.

The worldwide pass rate is 50 percent, as indicated by the Institute of Management Accountants (IMA), which gives the CMA confirmation. It says around 4,000 CMAs are conceded every year and somewhere in the range of 70,000 have been granted to date.

From January 2020, the CMA test will incorporate four new areas including data frameworks, information administration, advanced change (rearranging and concentrating money capacities utilizing innovation) and information investigation. The move is to guarantee the CMA stays significant and mirrors the adjustments sought after in the bookkeeping market.

"We're not anticipating that our bookkeepers should be information researchers, however bookkeepers and fund experts need to know enough that they can converse with information researchers and they can be the interpreters," says Dennis Whitney, senior VP at the IMA.

The CMA contends with the CIMA affirmation, offered by the Chartered Institute of Management Accountants in the UK. The CIMA prospectus is part into three segments — venture, execution and monetary — which are learned at three levels (operational, administrative and vital). Understudies think about an assortment of subjects from budgetary answering to extend the board.

While the CIMA capability is very much perceived in the UK, Commonwealth nations, China and focal and eastern Europe, it has attempted to pick up as much footing in the US where the CMA is better known.

In 2012 the Chartered Institute of Management Accountants banded together with the American Institute of Certified Public Accountants (AICPA), which directs the Certified Public Accountant (CPA) test. The associations propelled another Chartered Global Management Accountant (CGMA) accreditation. The expectation is that it will end up being the prevailing, globally perceived standard for bookkeepers.

An understudy can examine the CGMA as a major aspect of their CIMA capability or, in the US, through the CGMA Financial Leadership Program. There are 117,000 understudies in 156 nations advancing towards procuring the CGMA, says Ash Noah, overseeing chief of learning, training and advancement at the Association of International Certified Professional Accountants, a body propelled in 2017 to manage the CGMA.

He clarifies that the CIMA schedule was likewise refreshed in January this year to cover new regions, for example, computerized plans of action, digital dangers, information examination and rising innovations.

It additionally shows delicate abilities, says Mr Noah, accentuating understudies' mentalities to learning and urging them to continue creating. This perspective was viewed as significant as the board bookkeepers progressively end up working in "coordinated" conditions where they should be versatile.

Just as testing and tests, the CIMA additionally evaluates proficient capabilities and aptitudes through genuine business contextual analyses, Mr Noah includes. This virtual pretending offers applicants a chance to exhibit their ability and information in an expert setting.

This mix of specialized and innovative abilities pulled in Mr Coyne to a vocation with Deloitte in Cincinnati, which he is because of begin this September. "We live in a period of fast change," he says, "and it truly energizes me pondering what the future could hold."

Activa International Insurance is Insurance Company of the Year

Activa International Ghana Insurance Company Limited (AIIG) was recognized as Insurance Company of the Year at the 2017 Ghana Accounting and Finance Awards.

The award was received by Mr. Theo Nii Adjei Oninku, Corporate Accountant of Activa International Insurance Ghana.

For his part, the managing director of Activa Insurance, Mr. Solomon Lartey, expressed his thanks to the award committee for the recognition given to his company. He said: "We have been in our little corner doing our best for the company, the insurance industry and the mother of Ghana." We did not know that our efforts had been noticed by such an august organization. We are really grateful

Lartey said Activa's strength lies in its human resources base, adding that the company is made up of talented young people, experts and well-exposed professionals who are responsible for various aspects of their operations. We also place a lot of emphasis on human resource development and this positions us in such a way that we can represent and serve some of the best insurance brands in the world in Ghana. MD added.

It should be remembered that Activa's financial director, Geneviève Tachie, recently received the 2015 National Accountant of the Year Award, organized by National Women in Finance.

Activa International is the main insurer of Corporate Ghana, which offers insurance solutions in more than 48 African countries through its Globus network.

In addition to Insurance Company of the Year, Activa has also been nominated for the Accounts and Finance Team of the Year - Insurance at this year's Ghana Finance and Accounting Awards at the Movenpick Ambassador Hotel in Accra .

Candidates for accounting and scholarships in Ghana were reviewed in 2017 by a relevant technical committee of industry consultants from the National Pension Regulatory Authority (NPRA), the Association of Accountants (DAA) ) and the Chartered Institute of Management Accountants (CIMA).

In a related development, Activa Insurance has received more than 46 countries in Ghana to commemorate the celebration of the 10th anniversary of the Globus Network.

In his opening remarks, Activa Ghana's vice president of the board, Stephen Kyerematen said Globus Network, which transcends geographical, legal, linguistic and monetary boundaries, is the only one of its kind that provides insurance solutions. of the 54 African countries.

The seminar held at the Swiss Spirit Hotel Alisa, which was crowned by a dinner dinner at the Tang Palace in Accra, was attended by major shots in the field of global insurance. There were participants from Europe, the United States, China and all of Africa.

AICPA elects BKD COO Eric Hansen as next chairman

The American Institute of CPA has appointed BKD CPA & Advisors CEO Eric Hansen.
The Board of Directors of AICPA elected Hansen, 56, at its autumn board meeting, and voted for the Deputy Executive Director of the Emerging Institute, Bill Reeb. They will begin their terms on February 1, 2018 and will serve until May 20, 2019.
In a speech Tuesday, Hansen described some of his priorities, which include focusing on technologies such as Blockchain, data analysis to audit and assessing cybersecurity risks as new opportunities. for CPA and its customers. "Technology is not just about data," he said. "It is about establishing connections: it is about empowering people and companies to expand their possibilities."
Hansen also wants to expand the reach of the CPA profession worldwide. AICPA recently created an International CPA Association in collaboration with the UK Chartered Institute of Management Accountants, and Hansen is on the association's board of directors.
Hansen hopes to foster more learning opportunities and career skills to encourage more CPA leaders. "The future is uncertain and change is accelerating," he said. "But if we are ahead, if we have the courage to be bold and a prejudice for action, we will be ready, as Harry Truman said," progress happens when brave and skillful opportunity to change things for the better. "
As chief operating officer of BKD, one of the top 100 companies, Hansen oversees company-wide operations and serves as a liaison between BKD's national office and its four regions. Previously Associate Director of the BKD office in Oklahoma. He has been active as a member of the Missouri Society of Certified Public Accountants and its Board of Directors.
"Having Eric in this influential position improves our reputation and gives us a better perspective on the range of issues affecting the accounting industry," BKD CEO Ted Dickman said in a statement.
Hansen has served on the Board of Directors and the Board of Directors of AICPA. He and his wife, Jana, live in Springfield, Missouri. They have three children: Todd, Elise and Luke.
"Eric and BKD are doing a great job supporting the profession," AICPA president and CEO Barry Melancon said in a statement. "Business leaders of all sizes, as well as companies and industry members, have backed Eric and have expressed great respect for his ability to lead AICPA at a crucial time in the world of accounting."
On the other hand, the AICPA also said on Tuesday that it had developed a Q & A technical document to assist preparers and practitioners in determining whether their organization or client is a public business entity as defined by US GAAP. updated.
On Monday, he published a report on the Institute's progress in improving the quality of auditing. The publication describes some of AICPA's key achievements in the areas of peer review, audit documentation, single audits, employee benefit plan audits, and quality control. It also discusses some of the changing needs for talent, including the sections of the CPA's uniform review and assessment ratings.

MBA Careers: CIMA Leads The Way For Women In Accounting

Women accounted for more than 50% of accounting graduates entering the profession, but - according to the American Institute of Chartered Accountants (AICPA) - they account for only 19% of accounting firms in the United States.

CIMA - The Chartered Institute of Management Accountants is the largest professional professional accounting management firm, globally supporting 150,000 Chartered Global Management Accountants (CGMA). It adopts measures to address the gender divide in leadership and to promote women in accounting.

Samantha Louis has worked for CIMA for 19 years. She moved from CIMA management in South Africa to the entire sub-Saharan Africa region, moving to London where she now works as CIMA's Strategic Vice President - Management Accounting.

 "I have had the opportunity to meet many inspiring women of my career who have guided, guided and helped me," he says. "Today, I see more women in managerial positions that drive and influence the profession around the world - they certainly would not have seen it when I started work."

CIMA leads by example. He had several female chairs - CIMA in South Africa had its first female president in 1989. In the UK, the CIMA Women's Accounting Group supports women at all levels of their careers.

The Business Case

 According to a McKinsey report of 2015, top quartile companies for gender diversity are 15% more likely to have financial returns above their respective national industry averages.

The analysis of diversity has been carried out, and there have been changes in the accounting industry. The International Federation of Accountants (IFAC) has had two women in succession.

Deloitte in the UK has promoted gender diversity in each KPI as a partner and manager. Deloitte is part of a number of companies with gender-neutral curricula, eliminating the unconscious bias between the sexes in the selection of candidates.

Samantha is positive: "You're going to do what drives your business in a sustainable way over the long term, and I think the deal has been made that diversity at all levels of leadership does it."

CIMA and the MBA

 Samantha attended her MBA at the University of Pretoria in Johannesburg, South Africa. She is also a General Accountant in Management (CGMA), having studied the CIMA qualification through the CIMA Master Door, a fast track for MBA holders that exempts them from 11 exams.

CIMA's rating goes beyond traditional accounting programs, encompassing technical accounting techniques as well as modern management-oriented topics such as large data, sustainability and leadership.

CIMA students are evaluated through task-oriented case studies that reflect the current work environment. The qualification allowed Samantha to make about 18 months.

"Once I started growing in a leadership role, it was clear to me that I needed to have a better understanding of finances," he says.

"How does money really work in an organization?" What is the financial impact of the decisions you make? How are resources allocated most effectively? The CIMA qualification answers these questions.

"MBAs are often quite broad and do not take all the subjects in depth," continues Samantha. "If you aspire to work at the board or senior management level, CIMA is a very good qualification to do in addition to your MBA."

The future

 Bryony Stewart is a management consultant with a leading global financial services company. He completed his CIMA in 2003 and decided to take a part-time MBA at Strathclyde Business School a year later.

She knows that women face challenges in leadership roles in accounting and finance. For Bryony, key issues include women's family and care responsibilities and the lack of women's models and mentors in some organizations. However, she is optimistic about the future.

"Progress is being made as they increase awareness, support and commitment to address the gender imbalance in the first rank. Some companies are also beginning to define the board's goals in terms of gender diversity," she says.

"It is not only a desire to improve equality statistics, but also to capitalize on financial performance amel

Cima E1 Exam Question No 71

Question No 71:

Which ONE of the following does NOT represent a control in a computer network?

A. A firewall
B. Data encryption
C. Passwords
D. A cookie

Answer: D

Prepare from CIMA E1 Past Papers

Janashakthi Insurance Partners CIMA Business Leaders Summit 2017

Jude Fernando, Chief Executive Officer, Janashakthi General Insurance Limited handing over the sponsorship to Manohari Abeyesekera, Chairperson – CIMA Business Leaders Summit 2017 Organizing Committee
(From left - Manindri Bandaranayake, Head of Marketing, Janashakthi Insurance PLC; Jude Fernando; Manohari Abeyesekera and Zahara Ansary, Country Manager – Sri Lanka, CIMA)

 Lead insurer Janashakthi Insurance PLC announced for the third consecutive year its partnership with the Institute of Accountants in Management (CIMA) of Sri Lanka at the Summit of Business Leaders of CIMA.

Janashakthi came on board as Platinum sponsor for this year's event, which will take place on September 11, 2017 in "What's New: The New Business Landscape."

"Janashakthi Insurance is delighted to be part of the CIMA Business Leaders Summit for the third consecutive year. This year's theme is very relevant to us as a tailor-made organization as we strive to become a future- that is ready to meet the changing needs of our clients and create long-term value for all our stakeholders, "said Prakash Schaffter, CEO of Janashakthi Insurance PLC.

"We are committed to supporting CIMA in initiatives like this that bring the best minds to the company to create an engaging dialogue on relevant issues. This year's summit comes at a time when the changing world continues to influence how we do business in Sri Lanka and around the world, forums like this are inspiring business leaders to transform their business strategies to succeed in this changing business landscape, "added Jude Fernando, Managing Director of Janashakthi General Insurance Limited.

The Business Leaders Summit is CIMA Sri Lanka's flagship annual event with world leaders and influential in a variety of contemporary issues that make up the business landscape. This year's discussions are based on the broader concept of technological and business innovation; how organizations integrate technological advancements in their business models while creating value for their stakeholders and addressing pressing issues such as climate change and global / national factors that have an impact on their business practices.

"Janashakthi Insurance has been one of our longstanding business partners in Sri Lanka and has supported many of our key initiatives over the years, including the CIMA Awards - Janashakthi Pinnacle Awards.We are delighted to welcome Janashakthi Summit of CIMA Business Leaders for the third consecutive year, "said Manohari Abeyesekera, chairman of the CIMA Business Leaders Summit 2017 Organizing Committee.

The Chartered Institute of Management Accountants, founded in 1919, is the largest and most important professional body of management accountants, with members and students operating in 177 countries. CIMA works closely with employers and sponsors cutting-edge research, constantly updating its qualification requirements, work experience and ongoing professional development to ensure that employers remain engaged with financially trained employers.

Janashakthi Insurance PLC, founded in 1994, has marked the industry as an innovative and familiar name for a period of two decades. As an organization that is developed to provide excellence in customer service by meeting the insurance needs of its customers, Janashakthi has a network of 113 branches, a 24-hour call center 24 and a 24-hour evaluation service. Today, the Company is strong as a leader in Automotive, Non-Motor and Life Insurance services and continues its vision of lamp illumination in every home and workplace.

Enrollments in Undergraduate Accounting Programs Remain Strong: AICPA Trends Report

Enrollment in undergraduate and postgraduate accounting programs for the 2015-2016 school year totaled more than 250,000, maintaining the record level of 2013-2014. This was mainly due to a record level of undergraduate enrollment. From the demand side, the recruitment of new graduates in accounting firms has declined from the record level seen in 2014. This is according to reports 2017 Trends in the provision of graduates and the demand for public accounting accounting, Published today by the American Institute of CPA (AICPA).

 "The high number of undergraduate degrees in accounting programs bodes well for the goal of pursuing a strong pipeline of talent entering the profession," said Yvonne Hinson, CPA, CGMA, Ph.D. , AICPA Academic in Residence, Senior Director, School Participation and Student. "The AICPA continues to be incredibly focused on attracting bright, motivated accountants to the profession. We use Trends and other internal research to shape our programs and initiatives to ensure that the next generation CPA knows that joining the accounting profession is one Excellent career choice with flexibility and substantial opportunities.

While undergraduate enrollments were at an all-time high, the report found that projected enrollment in the accounting system returned to pre-2014 levels. Recent trend reports have seen a steep increase in enrollments and teacher graduates. The CPA profession has significantly lower unemployment rates than the economy in general, especially during economic downturns, which may have helped to attract both traditional and career-changing students to their masters. accounting.

 "In my experience as an educator, economic turbulence is a strong motivator for people to pursue the stability of a career in accounting," Hinson said. "The uncertain job market in the post-recession years may have led a large number of career changers to return to school to obtain a master's degree in accounting. At the same time we have seen plenty of students to continue their masters degree directly After graduating from his bachelor's degree in order to strengthen his academic credentials, thus increasing the total number during this period. "

The number of undergraduate degrees awarded during the academic year 2015-2016 (57,119) remained strong, adding to the second highest record and representing a five percent increase from 2013-2014. While the masters degrees awarded (22 405) fell from the historical level observed in 2013-2014, they were also the second highest recorded. Overall, there was an overall decline of 2,258 book titles granted in 2015-2016.

After reaching historic increases over the last four years, hiring the projected public accounting firm has slowed down during calendar year 2016, with 8363 fewer new accounting graduates hired as compared to the previous year. The report found that 59 percent of all companies that hired one or more accounting majors in 2016 plan to hire the same number of graduates or more in 2017. In addition, accounting and business graduates continue to have many possibilities.

 Labor Manual 2016 Labor Statistics revealed that the employment of accountants and auditors is expected to grow at a rate of 11% between 2014 and 2014, which is faster than average and represents 142,000 additional jobs. According to the BLS manual, high demand for accountants can lead to good prospects for entry-level positions, with strong competition for jobs in the most prestigious accounting firms and companies. The manual also notes that employment prospects are particularly attractive to accountants and auditors who have obtained their CPA licenses.

"As technology and data analysis reorganize the global economy, CPAs remain well positioned to take advantage of these trends," said Barry Melancon, CPA, CGMA, President and CEO of AICPA. "We have focused on educating our members on current and future opportunities available to them, as accounting firms are increasingly moving toward the provision of wider insurance services. And we are also proactively addressing change in the profession through the new version of the CPA exam, which puts more emphasis on higher order skills such as analytical ability and problem solving. "

There was a 13 per cent increase in the number of new candidates for the 2015-16 CPA uniform review. This increase was attributed by the launch of the new review in 2017, as well as by the concerted efforts of the 'AICPA, state-owned enterprises CPA and accounting companies to encourage individuals to pass the CPA exam.

 The AICPA has a multitude of programs designed to increase the pipeline of talented accounting students entering the profession and earning their CPA license. Increasingly, these programs target high school students. In addition to Long Start Here, Go Places. (Providing resources for educators and high school students), the Institute recently announced the acquisition of the Pilot and Bridge Project (APBP). The APBP is a program that trains high school teachers to teach a higher level accounting course. Research shows that taking the course increases the likelihood that students will be majoring in college accounting. Under the AICPA management, the program is being improved and will reach more teachers and, ultimately, more students.

In addition, AICPA's TheWayToCPA website educates students about the potential of an accounting career and provides them with resources and guidance when entering the profession. The AICPA also offers many educational opportunities to accounting students throughout their academic careers.

The 2017 Trends report includes a section that provides details on the interpretation of the data. As the statistical models for this year's report were developed and implemented by a research firm different from previous reports, projections are comparable to previous models, but they are not identical.