Cima E1 Exam Question No 44

Question No 44:

Which ONE of the following is a program that impairs data and software?

A. A virus
B. Corrective maintenance
C. Electronic Data Interchange (EDI)
D. Cyber bullying

Answer: A

CPA, CGMA or CTA: It’s Time to Rebrand

It's time to rebrand and position of the CPA. The market is disturbed by new business models that realize that CPAs have generally spent less in the preparation of financial information and certification. Some accounting professionals promote certificates as a trusted advisor, or could bring cognitor (just kidding).

At this point, I am in favor of placing the world approved accounting as a brand for accountants who specialize in different areas of the audit. With the powers that surround the CGMA revolve around four skill areas as follows:

•     Technical skills;
•     Business skills;
•     Social skills; Y,
•     Leadership Skills

CGMA advantage is that it contains the word "accountant" and this type of meter and certification can position themselves as trusted business advisor. In fact, the Board of Directors of the American Institute of Certified Public Accountants approved a resolution at its fall meeting in October paving the way for enlargement eligible for designation. We need to broaden what the public thinks of when they think of APC and CBCAA CGMAs or designation - Certified Business Consultant Accounting Consultant.

At this point, I think it's all about marketing what a CPA, but a different designation would go a long way in helping CPAs preserve and promote our services.

In a recent internet search, I find many definitions. Some of them start with the basics: "an individual who has passed the Uniform CPA examination." Some definitions cover the basic functions of a CPA, as Investopedia: "In fact, almost all current accounting firms offer three main areas of expertise:. 1. Trade Advisory Services 2 accounting and recordkeeping 3. Advice.. tax. There is a fourth area called verification, but not every company offers this service, even if it is the only service that only APC can perform by law ".

It might be time for us to redefine the term "counter", so I think it's time for organizations that support most of APC to perform any other audit to take action.

Technology has changed the name of the game and allowed all accounting firms to automate most of the "accounting function or process" recording, classifying and summarizing transactions, and place them in a balance in spreadsheet. Smart meters are becoming more consultative and strategic. That's why I see "Business Advisor" or "advice" to become the lead service as we go.

A quick survey of websites of major companies of all sizes - from the big four new pioneers - shows that are being consulting services, not emphasizing their status as APC, but emphasizing can help its customers to be more effective.

The bottom line is, it's time to make sure that when you look at the definition of a certified accountant or other designation similar statements are the following:

A CPA is a person who has passed the Uniform CPA and received state certification to practice accounting and the provision of advisory services to help customers be more profitable, liquid and solvent or CGMA CBCAA examination.

Cima E1 Exam Question No 43

Question No 43:



A psychological contract refers to which ONE of the following?

A. Intangible costs arising from outsourcing
B. The mutual expectations of an employer and employee
C. The responsibilities of citizens to their nation
D. The use of contracted experts in psychometric staff testing

Answer: B

Cima E1 Exam Question No 42

Question No 42:

An external auditor gives a qualifi ed audit report that is a  disclaimer of opinion.
This means that the auditor?

A. Has been unable to agree with an accounting treatment used by the directors in relation to a material item.
B. Has been prevented from obtaining suffi cient appropriate audit evidence.
C. Has found extensive errors in the fi nancial statements and concludes that they do not show a true and fair view.
D. Has discovered a few immaterial differences that do not affect the auditor's opinion.

Answer: B

CIMA Announces Offer for New Members

The Chartered Institute of Management Accountants (CIMA), has launched into special offer limited to qualified Nigerians, Especially MBAs, Masters in Accounting and Accounting Member bodies of IFAC, WHO aspire to the World Chartered Management Accountant (CGMA) designation.
CGMA, CIMA qualification is highly respected worldwide Because of the scope of STI program That Focuses on management accounting.CIMA in a statement Said That the special offer, Which ends December 31, 2015, Nigerians Allows Relevant With comprehensive qualification to extend the reach of Their Career With The CGMA designation.
"This designation is for management accounting Recognized worldwide as the qualification of the MOST Relevant finance for business and is powered by the expertise and resources of the CIMA and the American Institute of Certified Public Accountants (AICPA). Chartered Management Accountants working in 88 percent of Fortune 500 companies.
This is Because large companies around the world Understand The Importance of Having That accounting management are forward-looking in Their approach play a key role in monitoring and driving the company's success. Under registration This special offer, students apply for the WHO program on time pay only the costs of capped Also exemption would be exempt from paying the annual fee of CIMA Until 2017, "I Said.
CIMA Country Manager, Ijeoma Anadozie, said: "Our mission as an organization is to help people and Businesses succeed and we see this as a way to CIMA more accessible to a number of top professionals Greater cycle, graduates, business, finance and accounting. "
The Country Manager Disclosed esta accelerated path of CIMA has-been extended to chartered accountants, MSc and MBA in accounting holders in Nigeria.
The road, in Its view, exemptions Granted 12 of 17 documents, leaving the candidates fives just writing papers after the initial assessment. Successful candidates are Awarded the CIMA Advanced Diploma in Management Accounting, giving them the right to use professional letters CIMA ad Dip MA.

Cima E1 Exam Question No 41

Question No 41:

Contrived, volume and realistic are examples of which ONE of the following?

A. System testing methods
B. Supply relationship categories
C. Ways of classifying inventory
D. Ways of estimating market potential

Answer: A

Cima E1 Exam Question No 40

Question No 40:

If an employee who is opposing the introduction of a new system is given a key role in its implementation, this is an example of which ONE of the following?

A. Co-optation
B. Career planning
C. Succession planning
D. Networking

Answer: A

Chartered Institute of Management Accountants

Chartered Institute of Management Accountants (CIMA) has chosen as a partner in Romania for Golin PR activities

Golin Romania will handle communication activities Chartered Institute of Management Accountants (CIMA) in Romania, the agency was declared winner of a selection process organized by the company.

Golin will be responsible for developing and implementing all activities with the media, as well as organizing and coordinating events in Romania CIMA.

"Proposals PR coming from Golin were consistent with our growth plans. We appreciated the comprehensive understanding and depth of the target audience for CIMA and comprehensive strategy and tactics creative opportunity", says Krzysztof Kmuk (Emerging Markets Development Manager, CIMA)."

"Who is the most important and largest organization in the world for professionals working in management accounting. We are delighted to have been selected as partners for communication of CIMA in Romania. Our objective is to help the company reach a the higher the professionals in Romania, reinforcing its position in the local market. We see the partnership with responsibility and commitment, "adds Monica Botez (Managing Partner, Golin Romania)."

Golin corporate communication expertise to continuously developed in recent years, the agency is partner to the major local and international companies. Moreover, these campaigns implemented were rewarded with numerous awards and honors.

With over 227,000 students and members in 179 countries, CIMA professional qualification in accounting provides management with the aim of bringing a contribution to the success of people and businesses in the public or private.

Cima E1 Exam Question No 39

Question No 39:

If an employee who is opposing the introduction of a new system is given a key role in its implementation, this is an example of which ONE of the following?

A. Co-optation
B. Career planning
C. Succession planning
D. Networking

Answer: A

Cima E1 Exam Question No 38

Question No 38:

IS client-vendor relationship is a feature of which ONE of the following?

A. An outsourced IS function
B. Enterprise-wide systems
C. Social networking
D. Virtual team working

Answer: A

Cima E1 Exam Question No 37

Question No 37:

Background and circumstances, special attributes and disposition are all factors often identified in which ONE of the following?

A. Service level agreements
B. Key performance indicators
C. Person specifications
D. Job descriptions

Answer: C

Monday interview: Myriam Madden, CIMA

For Myriam Madden, director of finance and chairman of the Chartered Institute of Management Accountants (CIMA), there was no awareness before leaving school opportunities that the business world could offer.
And they want to travel, she said: "I had that curiosity about business, and I decided I wanted to know more about what makes a successful company."
Madden's career has enabled him to achieve two ambitions, visiting companies around the world and get a sectional view of how they work.
His CV includes leading roles change programs and financial functions in organizations such as Hewlett Packard, HBOS, the Scottish Arts Council, the NHS and Historic Scotland.
She says her desire to make a contribution in the world of business was strengthened when studying for a business degree, and when he looked to the work by CIMA said it appeared to influence key decision makers of the company, such as CEOs and CFO.
The organization is the largest professional organization in the world Management Accountants, trying to help people and companies in the public and private sectors.
Graduate, Madden joined Hewlett Packard in Edinburgh, when the technology giant was looking for graduates with a business background, "he played so much that I wanted to do"
She stayed with the company from 1987 to 2002, working for spin-off Agilent Technologies in telecommunications roles including manager of an agreement to acquire the US, European internal consultant based in London and director of support companies.
Still a resident of Edinburgh to date have already been added to travel a little further, including assignments in the United States and Europe.
While it is clear that there are differences in corporate culture throughout the world, the president of CIMA believes that eventually all the challenges that businesses face are very similar, and accounting management can address these to "on for business success, "regardless of the location of a business.
She was named president of CIMA 2015-16 in the summer and said it was a "fantastic" experience so far, leading to an organization with over 227,000 members and students in more than 170 countries.
One of his goals, he said, was to shake some of the "baggage" that can become a professional organization. "One of my motivations was really draw attention to CIMA as very modern, very dynamic, and meet the needs of the company," says Madden.
It also highlights the ethics and integrity as a key priority and "something that anchors us in all our students from the beginning and our members as they progress through their careers."
He specializes in financial and operational transformation, directed change programs in organizations with different needs and corporate cultures.
These projects can be "very difficult," he admits. "Very often, the obstacles may be the people who buy into the change that needs to be done."
Madden says it is necessary to work in the way of "putting people along this journey ... How to put a frame around it to make it easier to understand?"
Having worked in the public and private sectors, his resume includes part of HBOS between 2002 and 2004, where he led the development of project information tool for financial and operational services. He then joined the Scottish Arts Council, to boost the financial performance in a period of change and simplify the legal structures for a merger. And from May 2012, she was Director of Finance of Historic Scotland.
She said her varied experience has been very useful to him, saying: "I would encourage anyone starting their career to try as many things as you can experience expands and you can also find your own niche.".
Madden and, perhaps not surprisingly, is far from shy about recommending the world of finance and business for young people looking around a career plan.
"I think there is a fund management accounting gives a fantastic start - it just gives you that view across the enterprise," he said.
"Money makes the world, and in fact, you must understand how it makes the world."

Cima E1 Exam Question No 36

Question No 36:

Which ONE of the following is a program that impairs data and software?

A. A virus
B. Corrective maintenance
C. Electronic Data Interchange (EDI)
D. Cyber bullying

Answer: A

Cima E1 Exam Question No 35

Question No 35:

Corporate governance is best described as?

A. A code for organisational direction, administration and control.
B. Stakeholder guidelines.
C. A system of penalties for unethical behaviour.
D. The relationship between an organisation and the government.

Answer: A

Accountancy duo achieve top 10 exam grades in the world

Portsmouth two students came in the top 10 in the world in her accounting exams.

Somerset Marcos, 31, of Portsmouth, scored 123 from 150 in the Chartered Institute of Management Accountants (CIMA) of the review of case management studies, beating more than 800 other students from around the world.

Marcos attended St Edmund's Catholic School in Portsmouth before obtaining a BA (Hons) in Accounting from the University of Portsmouth. He studied for their CIMA exams with Kaplan in Southampton.

He said: "It was fantastic and I was told that I was coming in the top 10 in the world in this review and did all the hard work worth studying.

"The review was very hard, but I had a lot of support both Kaplan and my employer."

Glen Carter, 24, of Havant also came in the top 10 in the case of CIMA Strategic Review study.

He studied at CIMA exams with BPP and scored 127 of 150, beating over 1,800 other students.

Glen has studied business at South Downs College, and said: "I was surprised, but happy, I have been in the top ten in the world in this review.

Cima E1 Exam Question No 34

Question No 34:

A transition economy is one that is

A. About to be controlled by a different political regime.
B. Still introducing the benefits of e-commerce.
C. Moving from a planned to a mixed or free market economy.
D. Retrenching due to adverse economic circumstances

Answer: C

CIMA launches updated Certificate in Business Accounting

The Chartered Institute of Management Accountants (CIMA) today released updated CIMA Certificate in Accounting (Cert BA) and assessments under the updated program will start in January 2017 Update includes the five themes of the four existing program. The old math autonomous business subject is now integrated into other subjects, allowing contextual practical application of mathematics. The full content of the program was revised and updated after thorough global industry and educational research, to ensure that it remains current and relevant

Christmas Tagoe, executive director of CIMA Education, said: "The certificate in business accounting is designed to bring people and successful businesses by developing the skills and talent of the release is an independent qualification designed to give. anyone - not just those in a role of funding. - a solid understanding of business fundamentals and financial By equipping people with the knowledge and skills that employers need, we can help them advance their careers.

"The update Cert BA is based on extensive research and consultation with employers and educators around the world, ensuring that the program continues to reflect the new challenges facing companies and satisfies their need for competent professionals, insurance and competent. "

Earlier this year, CIMA has introduced a computerized and updated content classification for professional qualification based on rigorous research and the Chartered Global Management Accountant World (CGMA) newly created CIMA competency framework.

While the update Cert BA is an independent rating also continues to serve as a prerequisite for qualification. BA Cert update now more strongly aligned with the professional qualification by integrating the framework CGMA skills and the integration of structure "three pillars of learning."

Cima E1 Exam Question No 33

Question No 33:

An external auditor gives a qualifi ed audit report that is a " disclaimer of opinion?
This means that the auditor:

A. has been unable to agree with an accounting treatment used by the directors in relation to a material item.
B. has been prevented from obtaining suffi cient appropriate audit evidence.
C. has found extensive errors in the fi nancial statements and concludes that they do not show a true and fair view.
D. has discovered a few immaterial differences that do not affect the auditor's opinion.

Answer: B

CIMA SL asked to play vital role in job creation

CIMA Sri Lanka organized a gala dinner to celebrate his 50-year presence in the country recently. Prime Minister Ranil Wickremesinghe, who graced the event as guest of honor, said: "It will have a vital role to play in creating a million jobs, to Sri Lanka a highly competitive social market economy to increase incomes and living standards of the people, creating a strong middle class and raise our rural economy. "The Prime Minister has also developed 'CIMA role will be to ensure that there are enough qualified people to meet the that means you have to train people for our needs and take into account the fact that some of our people go abroad ".

CIMA President, Myriam Madden and CEO, Charles Tilley were also in Sri Lanka to celebrate this milestone. In his speech, Myriam Madden cited turbulent history of Sri Lanka and welcomed the efforts of CIMA Sri Lanka to build the economy and national education during this time. "I am very proud that CIMA, and his relationship with Sri Lanka and its contribution to the economy here in Sri Lanka survived these difficult times and have contributed to Sri Lanka through this difficult time." Myriam said she is excited and optimistic about Sri Lanka and the future growth of CIMA in the country.

The event recognized all former presidents of CIMA Sri Lanka, with special recognition given to Deshamanaya MTA Furkhan, co-founder of CIMA Sri Lanka and HAP Devagiri - the oldest living member of CIMA. Coincidentally, the 100,000th member of CIMA, Samalka Athuraliya becomes a Sri Lanka and was also recognized at the event.

CIMA, the Chartered Institute of Management Accountants UK was established in 1911 as the Institute of costs and job accounting. In 1965, two meters high - Frank Hayhurst and MTA Furkhan - laid the first stone of what would later become CIMA Sri Lanka. In the years that followed, the profession of management accounting has increased both quantitatively and qualitatively. Today, CIMA Sri Lanka is one of the largest markets outside the UK, with 13,363 students and one of the most sought after skills in the country. Currently there are 6340 active members and retirees qualified Sri Lanka and 2,812 active members of CIMA Sri Lanka living abroad.

Cima E1 Exam Question No 32

Question No 32:

 Background and circumstances, special attributes and disposition are all factors often identified in which ONE of the following?

A. Service level agreements
B. Key performance indicators
C. Person specifications
D. Job descriptions

Answer: C

CIMA Sri Lanka has vital role to play in future -PM

The new Government will take steps necessary the Create For A Social Market Economy highly competitive by strengthening the middle class population and increasing rural economy in the country, said Prime Minister Ranil Wickremesinghe.

"There is our deal with our international pressure have faced in the last five or six years, the world has accepted the fact that we are society Building a Democratic. Both it for, also want to strengthen FIRST Economy and we want to do our debt is found in the country and para entender Assets Where we are, "Wickremesinghe said during the 50th anniversary celebration CIMA Sri Lanka, last Thursday I welcome the Cinnamon Grand Hotel Colombo.

Ministers of the event, the president of CIMA Myriam Madden, CEO Charles Tilley, business leaders, all former presidents of the CIMA Sri Lanka and the actual address CIMA Sri Lanka they in this document.

Prime Minister Wickremesinghe said that the Ministry of Finance has DIO will evaluate v Task debt and the country's assets para understand the situation of the Country Financial real.

He said viable business and will also strengthen the State is back there ETF fund EPF pensions are widespread benefit of people in the country. In addition we will reverse more money in Education and Health a through budgets para v achieve the objectives set, "he said. The prime minister said that CIMA Sri Lanka has a vital role to play in the future." You have a vital role to play in Creation one Million Jobs, what does a Social Sri Lanka, the creation of a class means highly competitive market economy, increasing personal income and strong increase our rural economy, "he said.

CIMA Global President Myriam Madden said in the case of Sri Lanka Developing esta has a fast pace and encouraging crecimiento're.

It's therefore the CIMA Members contribute to the development of the Company significantly. BECAUSE only our members the very high level of a high work ethic and discipline.

"Today in Sri Lanka Over 1,500 Students 13,000 4,000 members and other members abroad. These and Prospective Members Current Members could play an important role for the economic development of the country," he said.

Currently, more than 60 students their Young Women percent, which could be considered model para Other countries one. "CIMA qualification is a world the majority of the people of Sri Lanka excellent positions in the business sector, including women," She said.

Cima E1 Exam Question No 31

Question No 31:

Which ONE of the following is a program that impairs data and software?

A. A virus
B. Corrective maintenance
C. Electronic Data Interchange (EDI)
D. Cyber bullying

Answer: A

Myriam Madden, CIMA President in Colombo

The Golden Jubilee celebrations of the CIMA Sri Lanka marked the 50th anniversary of its presence in the country it will be organized under the patronage of Myriam Madden, president of CIMA 2015/16 paid.

Myriam Post a busy CIMA world governance since 2007, including roles as deputy and vice chairman of Member Services of the United Nations and member of the Global Board of the Audit and Risks. Aussi She sits on the Board of Directors of the AICPA. Now she becomes 82nd President of CIMA, the role of the United Nations to chair the voluntary agreements governing the Institute and advocating pour CIMA and management accounting. Professionally, Myriam a strong background in finance and business in June with extensive experience in governance, corporate strategy, mergers, acquisitions and business transformation. Directs organizations OU Change Programme and financial functions include HBOS, Hewlett Packard, Agilent, Arts Council of Scotland and Historic Scotland NHS. Is She graduated from University College Cork with a Bachelor of Commerce and Business

Myriam, who will be in Sri Lanka from September 20 to 28, attend the wedding dinner to mark the presence pouring 50 24 CIMA Sri Lanka aussi September.She meet former presidents and the President of CIMA Sri Lanka and congratulate Council 100,000th member CIMA - Sri Lankan.Myriam being aussi important personalities UN meets During the visit to strengthen the presence of CIMA Sri Lanka.

Cima E1 Exam Question No 30

Question No 30:

Corporate governance is best described as?

A. A code for organisational direction, administration and control.
B. Stakeholder guidelines.
C. A system of penalties for unethical behavior.
D. The relationship between an organisation and the government.

Answer: A

Ignoring risk management endangers firms, study says

If you do not have a formal process of risk management in place, you are putting your business at risk, according to the new report, "State of Enterprise Risk Oversight, which was conducted by the Initiative for Risk Management Business the North Carolina State University the name of the designation Chartered Global Management Accountant (CGMA).

While the new edition of the report states that 60 percent of councils seek greater involvement of senior management to prepare for possible crisis. Resources However, many organizations, especially small and medium enterprises, are not dedicated to ensuring a process of risk management is in place.

The report, which includes results from a study of more than 1,300 executives worldwide, found that about 60 percent of organizations increasingly complex issues of risk 'were faced five years ago.

Despite this, less than 35 percent of organizations have launched a management program formal business risk (ERM) - a framework to identify and prepare for future threats to the basic business model of an organization and a plan strategic.

"With three out of five companies facing increasing risks, and regulatory, shareholder and organizations are beginning to demand more effective risk management agencies is essential to the management teams to take a closer look successful their programs risk management and make them more robust, "said Noah Ash, vice president of external relations, the AICPA.

"Identification with rigor and deal with potential threats is crucial for long-term success of a company, the pressure to test the effectiveness of risk mitigation plans and provide a competitive advantage in the marketplace."

Cima E1 Exam Question No 29

Question No 29:

What is Data?

Data consists of numbers, letters, symbols, raw facts, events and transactions which have been recorded but not yet processed into a form that is suitable for making decisions.

CIMA and The Hackett Group Launch First Ever

CIMA and The Hackett Group Launch First Ever Life-Long Learning Program for Global Business Services and Shared Services Sector:

 CIMA and partner Hackett Group to create a new professional body, The Association of Global Business Services certified professionalsMIAMI AND LONDON The Chartered Institute of Management Accountants (CIMA) and The Hackett Group, Inc. (NASDAQ: HCKT) today announced the first of more development program career official Global Business Services (GBS) and shared services sector. This follows the announcement of a strategic partnership between the two companies earlier this year. To enhance their cooperation and support to GBS, CIMA and The Hackett Group formalized its alliance with the creation of a new professional organization, professional certificates Association Global Business Services sector.
 Based on the classification Global Business Services in conjunction brand launched in April, the program will introduce two new levels over the next year, each with a title and the corresponding description. At each level, the new development program teaches the skills and competencies required by employers to achieve the highest standards of excellence. The three levels will now be: The Certificate of Global Business Services (ONGC), now available, replacing the rating of Global Business Services; the degree Global Business Services (SPMD) available in the summer of 2016, designed for those mid-level; and Higher Diploma in Global Business Services (ADGBS) available in the spring of 2016, for those at the executive level.

Participants in these programs also have access to a new knowledge center, providing access to documents, such as case studies, frameworks and performance measures of The Hackett Group, CIMA, and other organizations. The knowledge center is designed to help participants through the exams and learning throughout life, with the additional hardware unlocked as complete individuals certification of all levels.

 Ted Fernandez, president and CEO of The Hackett Group, said: "The world is changing rapidly GBS from beyond attention to the simple functions and transactional work to offer an integrated approach of business services, and a focus on a greater knowledge of these skills focused on strategic thinking and analysis, data modeling, people management and change management. Our new program is designed to help support this evolution, allowing the leaders of GBS to equip their staff with the skills and knowledge they need to succeed.

"These training programs provide value in a range of ways," Fernandez said. "To the leaders of GBS, our training and certification offerings provide the ammunition that can help convince senior management who are willing to take on more complex and responsible process. These programs are also a great way for organizations to recognize GBS more efficient and improve the retention of key personnel. For GBS staff, this represents an exceptional opportunity for development, and to improve career mobility. Finally, our programs are a great way to subcontractors for competitive differentiation " .

Charles Tilley FCMA, CGMA, CEO of CIMA, said: "As the largest and the first professional body of management accountants world, supports CIMA members and students in 179 countries through our intensive training and rigorous practice education and continuous professional development services we are. Proud to be applying our experience now GBS sector. Professional GBS need the skills and knowledge to provide the kind of sophisticated strategic service that the sector is evolving towards council. We have helped teams management and worldwide gather the information they need to inform strategy formation and implementation and will support organizations of GBS in their attempt to do the same.

"Until now, organizations of GBS and its employees were unable to reach their full potential due to lack of specialized training. With this new step in the partnership with CIMA The Hackett Group, we respond to this clear need. As the first and only organizations that provide education for the sector in the long run, will help professionals GBS to achieve and maintain levels of world-class performance and ultimately better enable and support business strategies that serve. "

CIMA urges businesses to introduce code of ethics

CIMA urges businesses to introduce code of ethics:

The Chartered Institute of Management Accounts (CIMA), in Its third annual report on "the company's responsible management," NOTED That the profit and ethics are not two opposing Objectives, adding That property managed and responsible business is more likely to survive long -term .it Said That many financial professionals face pressure to tolerate the bad practices of Their colleagues or unethical to behave themselves. They are still Struggling to make their way Through crisis of culture Within the company and They need to stay the course.

"Such pressure on professionals based in Pakistan rose from 51% in 2012 to 54% in 2015, According to a report, around 38% of Respondents Agreed the reports on professional ethics as troublemakers by management" added.Highlighting it causes pressure to compromise standards of conduct of business ethics for financial professionals, CIMA report Stated That 49% of professional insights to Work With colleagues from different functional areas Within the organization to be the main cause, 44% Believed meet deadlines was a cause and 39% management accounts compilation seen as the main reason.

Surveyed Out of 2,498 professionals worldwide, the report stressed, Although MOST Organizations That Have codes of ethics, only 36% of Respondents confirmed That Their ethical management Organizations collect information (EMI). "This was DESPITE an Increase in demand for data on ethical business practices, in particular, the investment community, 30% of Which users are EMI," I added.

Ethics chief Tanya Barman CIMA Said, "A lost reputation can destroy a business overnight. To avoid this, Organizations need to collect and interpret information on the ethical performance, so
When the company I can tell is on the right track and when it is About to fall off a cliff. "

She Said That Sri Lanka, with 61%, has the highest level of pressure to compromise professional ethics, followed by Malaysia With 58% and Pakistan with 54%.

She Said in United Kingdom, United States and Ireland, professionals are faced With low pressure, but an Increase of 12%, 7% and 5% was Observed since 2012, respectively, adding India esta trend has reversed, falling to 45% Against 51 % in 2012.

"Four-fifths (80%) of finance professionals thought They had a special role in the management of ethical performance and 78% believe companies That Have a role in solving the global problems: such as climate change and poverty," She Said ....

Cima E1 Exam Question No 28

Question No 28:

Difference between Purchasing Supply?

Purchasing:

•  Concentrates on the day to day buying of goods
•  Emphasis is on the price, quality and accurate delivery of goods
•  May be viewed as an out of date approach to supply chain management.

Supply:

•  A more modern approach dealing with important issues beyond the day to day including:
•  Planning and implementing a supply strategy
•  Managing the overall supply process
•  Considering the appropriateness of outsourcing arrangements
•  Investigating whether strategic partnerships could be developed
•  The number of suppliers it should use.

CIMA Introduces New Programme for Nigerian Finance Professionals

CIMA Introduces New Program for Nigerian Finance Professionals:

In order to expand knowledge and improve the level of efficiency of the management, the Chartered Institute of Management Accountants (CIMA), the main body of management accountants worldwide, has recently launched a new certification program known CIMA as CFO Road, for professionals in business and finance in Nigeria.
CIMA CFO path is a program designed for financial directors, general managers and senior management officers methodically instill in them the application of strategic management techniques required to analyze, recommend, and support decisions and the areas included in As part of the work officers and management of senior finance.
Business presentation of program managers and finance based on different sectors of the economy, the Executive Director of Education of the body, Dr. Tagoe Christmas, said the program was developed by the Institute Due to the need to expand the field of knowledge of the special accounting in the business environment overall multi-faceted today.
"We feel that those in positions of leadership and those who aspire to positions of responsibility must undergo a change of mentality. A change in mindset can begin posting in the forefront of change in the way companies are managed" Tagoe said.
He also revealed that the program was carefully designed to help potential candidates meet the requirements of modern employers combining both the conceptual and theoretical knowledge with practical application examples to fully understand and use them learned. This, according Tagoe puts it in an advantageous position compared with postgraduate university degrees.
Speaking about the relevance of the program and the eventual certification, his campaign manager, Ms. Ijeoma Anadozie, he said: "Through the implementation of this program, two nominations is obtained; ACMA Chartered get associated Management Accountant and get is CGMA Authorized account global management and this designation is in collaboration with the American Institute of Certified Public Accountants. (AICPA). "
Anadozie also revealed that a greater association with the AICPA, CIMA advanced management accounting qualification obtained by students is very important and respected as recognized worldwide in several countries.

Cima E1 Exam Question No 27

Question No 27:

Cattell's 16PF test is normally associated with which ONE of the following

A. IS feasibility studies
B. The process of market segmentation
C. Auditing existing supply arrangements
D. Employee selection

Answer: D

Accountants under pressure to 'fiddle the ethics' say the CIMA

Accountants under pressure to 'fiddle the ethics' say the CIMA

 Local accounting under the pressure of "sloppy ethics." A new report from the Chartered Institute of Management Accountants (CIMA) said a third of finance professionals in Cambridgeshire and across the UK feel pressured to compromise ethical standards.The third edition of "The companies responsible for their reports, which surveyed 2,498 professionals worldwide management, revealed that the proportion of workers based in the UK said pressure transmission has increased from 18% in 2012-30 % by 2015. It is worrying that one in five (21%) of respondents agreed they report concerns regarding unethical behavior are seen as troublemakers management.Commenting on the report's findings, Tanya Barman, director of ethics at CIMA, said: "ethics and profits are not two opposing objectives company responsible and well managed is more likely to survive long term ..
"However, our latest" Responsible reporting companies shows that many financial professionals in Cambridgeshire face pressure to tolerate the bad practices of their colleagues or ethical conduct."The report highlights that we are still struggling to work our way through a crisis of culture within companies, and we have to keep our focus. Our study shows that we can no longer afford to think about the ethical performance business as a matter of compliance. "The report highlights that while most organizations have codes of ethics, only 36% of respondents confirmed that their organizations collect ethical management information (EMI).Despite the increased demand for data on ethical business practices, in particular, the investment community, of which 30% are users of EMI.Tanya said: "A lost reputation can destroy a business overnight to avoid this, organizations in Cambridgeshire need to collect and interpret information about the ethical performance, so the company can tell when you are on the right track and when to about to fall to. cliff."Leaders should also consider the adoption of integrated reporting. - Narrative reports that provide information on areas such as ethics in both management and stakeholders Finally, councils need to keep a close eye on this domain".Respondents in the UK, observed a 12% increase in the pressure to compromise since 2012.Barman added: "Clearly there is a gap in the application to be completed by qualified professionals using methods such as integrated presentation of reports."Management accountants have a unique set of skills that will allow them not only to collect data, but also to analyze and interpret, in particular through integrated reporting, and as such have a crucial role to play in identifying risks and protection of the organization of unethical "practice.Four fifths (80%) of finance professionals said they had a special role in the management of ethical performance, and 78% believe business has a role in solving global problems such as climate change and poverty.The report also highlights the abuse of human rights as a matter of growing concern business, with 68% of respondents believe that it is a matter of importance, compared to 55% in 2008. However, while the Awareness of the issue is growing, many companies fail to implement the relevant processes; for example, only 13% reported having conducted due diligence on human rights when entering into new contracts.

Cima E1 Exam Question No 26

Question No 26:

Gross National Product (GNP) represents?

A. Another term for Gross Domestic Product (GDP).
B. Gross Domestic Product (GDP) adjusted for foreign earnings.
C. The total intellectual and social capital of a country.
D. Aggregated 'bottom-line' performance of a country's top 100 companies

Answer: B

Additional CIMA-Webb connections identified

Additional CIMA-Web Connections Identified: 

  A total of five people working for the Monetary Authority of the Cayman Islands have been identified as having a "bond" with Jeffrey Webb, the man in the Cayman Islands and formal business of the deposed FIFA defendant in an investigation into organized crime and corruption United States shocked the world of football.
Chairman of the Monetary Authority of Grant Stein said Tuesday that five people, he did not name, should excuse himself from any involvement in the ongoing review of local transactions related to the US probe and FIFA CIMA.

"My opinion is that there are five people on CIMA that link to Jeff Webb," Stein said, "all of which have challenged the review."

Stein said he was not aware of any connections between Webb and five employees, but Cayman is a small island, not the existence of such close ties are particularly surprised. Most of the connections involved either direct family ties or marriage ties, he said.

The issue of conflicts emerged in early June when it was revealed that the CEO of CIMA husband Cindy Scotland, former government minister Mark Scotland, has been working since last year to the Football Association of Cayman Islands under its President Webb and Webb was in Switzerland at the time of his arrest on May 27. In addition, the wife of former Minister Cline Glidden, Gloria serves as deputy head of the banking division of the CIMA. Mr. Glidden was working for CONCACAF in the creation of a regional court settlement of disputes and football was also Webb in Switzerland during the annual meeting of the FIFA before the arrests.

Mr. Stein said there were no allegations of wrongdoing against Scotland, either Mr. or Mr. Glidden probe FIFA.

The new president of CIMA revealed Tuesday that global Krys was retained by the authority to conduct forensic audits of all transactions related to Webb or former resident Costas Takkas Cayman, which are responsible for the criminal investigation in the United States.

Forensic accountants probe will be monitored by a committee of three officials CIMA staff by the head of the CIMA of the bank Ilako Charles, responsible for compliance RJ Berry and Assistant General Counsel Andre Mon Desir. When the test is complete, the Committee will report on the results of the accounting "non-executive" CIMA - ie without the CEO being present CIMA.

The purpose of the appointment of the committee, Mr. Stein said, was to separate the investigations and forensic accounting consultants CIMA made in local financial transactions mentioned in the indictment of US where the regulatory authority can have "connections" Webb, Stein said.

At least one current and one former bank Cayman Islands, Fidelity and Barclays, were named in connection with allegations of US Federal Court, although neither the bank was accused of irregularities in the court records.

For now, the committee CIMA and forensic accountants to focus only on operations Fidelity Bank identified in the indictment of America published on 27 May, Stein said. If there were other areas of concern identified in the context of the review, the investigation could grow, he said.

The charges:

Senior officials from Fidelity Bank in the Cayman Islands have confirmed in early June Webb remained employed in the bank in a contract part-time consultant until the end of 2012, including the period in which he is accused of soliciting bribes from intermediaries in the exchange of the granting of the marketing rights for certain football competitions of FIFA.

According to US accusations of the Federal Court, separate bribes channeled through the US payments, Hong Kong and the Cayman Islands bank accounts were negotiated in 2012 with then Vice President of FIFA and powerful Secretary General Webb CONCACAF Enrique Sanz, who is identified in the indictment as "co -conspirator No. 4".

The indictment alleges that the discussions were in 2012 to negotiate the media and marketing rights to the qualifying round of 2018 and 2022 World Cup. These rights were being sought by the US subsidiary of trafficking Group, based in Brazil - US Traffic - I wanted to buy the rights to the Caribbean Football Association, state records of the Federal Court. Co-conspirator # 4 was used by the Group of traffic at the time, but that same year he became the general secretary of CONCACAF. The director general of trade of the United States, Aaron Davidson, is also responsible for the US survey FIFA.

Near the end of these negotiations, co-conspirator # 4 are met defendant accused Takkas, identified as a close associate of Webb. The meeting was held in Hungary. "Takkas told co-conspirator No. 4 Webb wanted a bribe of $ 3 million in exchange for the contract [Football Union] must be assigned to US traffic," court records state.

It is also alleged that bribery was divided between the two companies, traffic from the US and other identified as "Company C Sports Marketing" so that everyone would have to pay $ 1.5 million in Webb. It is also alleged that the payment traffic was sent to the United States Takkas by a Miami bank HSBC in Buffalo, New York, and finally transferred to a HSBC bank in Hong Kong.

The indictment alleges that two transfers totaling $ 1 million were sent from Hong Kong to a correspondent account in New York to the credit of an account in the name of Kosson Ventures - a company controlled by Takkas - Fidelity Bank in the Islands Cayman. Records show that the US $ 500,000 remaining due by TRAFFIC USA They were paid into another account controlled by Takkas at Fidelity Bank in the Cayman Islands.

"Takkas then transferred the funds in an account in the name of a pool builder in the United Community Bank in Blairsville, Georgia," the criminal complaint bed "[It was] the benefit of the accused Jeffrey Webb, he would have a pool built at his home in Loganville, Georgia. "

Federal prosecutors say the Takkas participation in the transfer of funds was "more intermediate 'in nature and was" designed to hide the fact that Jeffrey Webb was the recipient of the payment. "

It was unclear whether the indictment Webb never received the other half of the money from the alleged corruption of "Sports Marketing Company C."

Webb last all charges against month pleaded not guilty in federal court.

Cima E1 Exam Question No 25

Question No 25:

When government regulation and restriction is absent the effect is?

A. Protectionism.
B. Economic nationalism.
C. Liberalization.
D. A mixed economy

Answer: C

Scotland’s Myriam Madden elected President of CIMA

Scotland’s Myriam Madden elected President of CIMA:

 Management Accountant based in Edinburgh Myriam Madden was elected president of the Chartered Institute of Management Accountants (CIMA).

Ms. Madden is a finance director specializing in finance and business transformation in the public sector, financial services and the world's leading companies.

She led the financial functions in organizations such as Hewlett Packard, HBOS, the Scottish Arts Council and Historic Scotland.

Ms. Madden said: "I am delighted to be elected president of CIMA.

"It's a great honor and I hope to further strengthen the success of the institution, both in Scotland and around the world.

"As president, I am excited by the impact of the CIMA contributing to business success and guidance in all major cities worldwide.

"CIMA has a valuable asset in its global community of students and members - one of my ambitions is to be confident advocates galvanized by CIMA and the profession of management accounting.

"CIMA Strategic Initiatives will be more effective if the ideas of enthusiasm, energy and several of our members and students to reflect."

Cima E1 Exam Question No 24

Question No 24:

Who is responsible for the preparation of the financial statements?

A. The entity accountant
B. The auditors
C. The entity directors
D. The shareholders

Answer: C

Cima E1 Exam Question No 23

Question No 23:

Which ONE of the following characteristics is NOT normally associated with a Non-Governmental Organization (NGO)?

A. Furthering humanitarian causes
B. Championing social causes
C. Making profits
D. Exercising independence

Answer: C

CIMA Offers 50% Discount on Fees for CGMA

CIMA Offers 50% Discount on Fees for CGM:

 CIMA, the Chartered Institute of Management Accountants has launched a special offer of 50% of its standard registration fee for the Master of Business Administration (MBA) and Master of Science (MSc) in counters and gates CPAs.

Special offer, which ends on July 31, allows Nigerians with relevant qualifications to expand the global reach of his career by obtaining the designation of Certified Management World (CGMA) Accountant. This designation of management accountants is recognized worldwide as the most important qualification for business finance and is fed by the experience and resources of the CIMA and the American Institute of Certified Public Accountants (AICPA).

CIMA Ijeoma Anadozie Country Manager, said. "Our mission as an organization is to help people and businesses succeed and we see this as a way of CIMA more accessible to a greater number of business, finance and accounting graduates and professionals Anyone with a relevant degree you will benefit from a policy of carefully defined exemption that will allow a student to start studies CIMA at the right time to move faster in qualifying. "

Country Manager disclosed this accelerated path of CIMA has spread to public accountants, holders MSc in Accounting and MBA in Nigeria. The road, in its view, exemptions awarded 12 of 17 documents, leaving the Fives candidates only write after the initial assessment documents. The candidates receive the CIMA advanced diploma in management accounting, which gives them the right to use the letters CIMA Professional Ad Dip MA.

CIMA has over 227,000 members and students in 179 countries working within the company in organizations of industry, commerce and non-profit. Chartered Institute of Management Accountants and has strong relationships with employers and sponsoring cutting edge research.

Cima E1 Exam Question No 22

Question No 22:

If an external auditor does not agree with the directors ' treatment of a material item in the
accounts; the first action they should take is to

A. Give a qualified opinion of the financial statements
B. Give an unqualified ed opinion of the financial statements
C. Force the directors to change the treatment of the item in the accounts
D. Persuade the directors to change the treatment of the item in the accounts

Answer: D

Lanka ready for 2015 CIMA GBC Global finals in Poland

Lanka ready for 2015 CIMA GBC Global finals in Poland:

The winners of the final Country Sri Lanka, the team of Paragon consultants from the University of Moratuwa, represent the country and compete with 25 other teams at the CIMA GBC 2015 world finals to be held from 3 to 7 August in Warsaw, Poland.
In the last country of Sri Lanka, the task of competition asked teams for the first time to present a report on a case study on the oil and gas. Due to the great ignorance of this industry in the country, it was a demanding task and Paragon met the challenge admirably Consultants offer a business model well thought out. Paragon Consulting team is represented by Sirimevan Jayasundera, Piyumi Bandaranayake, Hasindu Siyambalape and Chamanth iJayaweera - all undergraduate students of the Faculty of Engineering, University of Moratuwa.
Two days of GBC Global Finals will be held in two rounds, the first taking place on August 5th round teams will be divided into three randomly selected from a drawing on August 3 groups and each group presented simultaneously in different panels judges.
The top two teams from each group advance to the second round on August 6 and will be given several hours working on an extension of the case study; followed by a question and answer session with the panel of judges.
In preparation for the final, the team of Sri Lanka suffered tutoring sessions by Bradley Emerson (Regional Director - Middle East, South Asia and North Africa, CIMA), Ganga Fernando (Professor - Finance from the University of Colombo), Chas Charles (CEO - Hayleys Energy Services), Senaka Kakiriwaragodage (Vice - NDB Investment Bank), HarshaWickramasinghe (Senior Vice President - Operations, Sustainable Energy Authority of Sri Lanka), ZohairHaiderally (Senior Vice President - Copal Amba) Director Jayamin Pelpola (Management - York Street Partners), Padmini Samarasinghe (Chairman Letter - CIMA Sri Lanka Toastmasters Club) and .Samanmali Herath (team leader and winner of the 2014 CIMA GBC global finals). It is expected that national representatives this year to emulate the success of the previous year, in which the Sri Lanka team (University of Colombo) to the winners of the 2014 final comprehensive CIMA GBC is judged.- See more at: http://www.dailynews.lk/?q=business/lanka-ready-2015-cima-gbc-global-finals-poland#sthash.Fr69JzUt.dpuf

Cima E1 Exam Question No 21

Question No 21:

If an auditor disagrees with the treatment of a material item in the financial statements and
the directors refuse to change their treatment; the auditor will in most situations:

A. Issue a qualified ed audit report using the ' except for ' qualification
B. Issue an unqualified ed audit report
C. Issue a qualified ed audit report using the ' adverse opinion ' qualification
D. Issue a qualified ed audit report using the ' disagreement of treatment ' qualification"

Answer: A

Cambridge University team wins CIMA Global Business Challenge

 Cambridge University team wins CIMA Global Business Challenge:

A team of students from the University of Cambridge has achieved significant success in a competitive race designed to find the next generation of business leaders.The end of the UK Chartered Institute of Management Accountants (CIMA) Global Business Challenge, in partnership with Barclays, was held in London and saw the Rainbow team take the honors.They had to find solutions to a business scenario CIMA real life on the basis of the oil and gas, and now represent the UK at the world finals in Warsaw next month."Competition has been an amazing experience so far, offer exposure to the financial aspects of the company and allows us to explore future career plans," said Xin Ling Ng, team leader.Andrew Harding CIMA added: "The challenge of global business helps us identify the next generation of entrepreneurs, their ability to feed and provide a unique experience improved career."

Cima E1 Exam Question No 20

Question No 20:

What is Different Economic Systems?

• Planned economy
• free market (capitalist) system.
• mixed economic system

Cima E1 Exam Question No 19

Question No 19:

"If an external auditor does not agree with the directors ' treatment of a material item in the
accounts; the first action they should take is to

A. Give a qualify ed opinion of the financial statements
B. Give an unqualified ed opinion of the financial statements
C. Force the directors to change the treatment of the item in the accounts
D. Persuade the directors to change the treatment of the item in the accounts"

Answer: D

Cima E1 Exam Question No 18

Question No 18:

An external auditor gives a qualified audit report that is a " disclaimer of opinion " .
This means that the auditor:

A. Has been unable to agree with an accounting treatment used by the directors in relation
to a material item.
B. Has been prevented from obtaining sufficient appropriate audit evidence.
C. Has found extensive errors in the financial statements and concludes that they do not
show a true and fair view.
D. Has discovered a few immaterial differences that do not affect the auditor's opinion."

Answer: B

Middlesex University triumphs at the Middle East finals of CIMA Global Business Challenge 2015:

Middlesex University triumphs at the Middle East finals of CIMA Global Business Challenge 2015:





Middlesex University was crowned champion in the regional final of the Middle East of the CIMA Global Business Challenge (GBC) 2015, the international commercial competition organized by the Chartered Institute of Management Accountants in association with Barclays. Middle East stage of the competition is supported by the Ministry of Finance - Government of Dubai, Emirates Aluminium Global, Unilever and BMMI.Revenution team Middlesex University, including Rini Jacob Sarita Rani, Macy and Mihika Arun D'sa, were declared winners. At the regional finals, the team had to present their solutions to real life business scenario CIMA industry based on oil and gas. They also had to participate in a session of questions to a panel of judges.The team will now represent the Middle East at the World Finals in Warsaw, Poland, in August 2015. They will compete against 25 other teams from around the world.Dr. Vijaya Kumar, professor and representative of Middlesex University, said: "We are delighted to have won the Business Challenge 2015 Regional Finals Competition World CIMA was an amazing experience and we could practice and develop our knowledge and business skills we are proud of.. Middle East represent to the world finals and hope to show that we can be the best in the world ".Geetu Ahuja, Head of GCC CIMA, said. "Congratulations to the University of Middlesex in their outstanding achievement by winning the final Middle East CIMA GBC 2015 The standard of all the competitors was very high and it was a privilege to attend such extraordinary Performance World Final will give the team the opportunity to represent the best and brightest business talent emerging in the Middle East. I am sure that the challenge and wish them every success. "Andrew Harding, president of CIMA, said: "As a leader in the world and the largest body of management accounting, we are proud to support the development of professionals with the skills and knowledge that the Global Demand Business Challenge employer is an extension of that mission., which helps us identify the next generation of business leaders, to promote their skills and provide a unique experience improved career. "

Cima E1 Exam Question No 17

Question No 17:

What are Targeting?

• Issues to be considered:
• Size of segment
• Growth potential
• Profit potential
• Degree of competition
• Accessibility
• Barriers to entry

Cima E1 Exam Question No 16

Question No 16:

What is 4 bases for segmentation?

(1) Demographic[Age Gender Geographical area Family life cycle]
(2) Socio-economic [Occupation Income]
(3) Psychological [Lifestyle Attitudes Values]
(4) Situational [Occasion of use Frequency of purchase]

Cima E1 Exam Question No 15

Question No 15:

What is  Kotler's 3 criteria for market segments?

• SAM
• Substantial
• Accessible
• Measurable
• vs SMART
• Specific
• Measurable
• Accessible
• Relevant
• Time-constrained   

Cima E1 Exam Question No 14

Question No 14:

The 7 steps of the market planning process.

1. Situation analysis
[SWOT
PESTEL]
2. Review of corporate objectives/mission
3. Set its marketing objectives
4. Devise an appropriate marketing strategy
[Segmentation: by age/social class or income
Targeting: target the segments with appropriate marketing mix
Positioning: differentiation vs cost leadership for each segment
Marketing mix: Product, price, place, promotion]
5. Plan the marketing mix
6. Implementation
7. Review

Cima E1 Exam Question No 13

Question No 13:

The following is a list of payments which an organisation may incur during a year:
(i) capital withdrawn from the business;
(ii) interest paid;
(iii) legal expenses;
(iv) payments for domestic expenses of the directors;
(v) advertising.
Which two of the above items of expenditure will normally be disallowed for corporate
income tax purposes?

A.  (i) and (iii)
B.  (i) and (iv)
C.  (ii) and (iv)
D.  (iii) and (v)

Answer: B

Cima E1 Exam Question No 12

Question No 12:

Accounting depreciation is replaced by tax depreciation?

A: To reduce the amount of depreciation allowed for tax
B: To increase the amount of depreciation allowed for tax
C: To ensure that standard rates of depreciation are used by all organisations for tax purposes
D: So that the government can more easily manipulate the amount of tax organisations pay

Answer: C

Cima E1 Exam Question No 11

Question No 11:

An imputation system of corporate income tax means?

A: All the underlying corporate income tax on the dividend distribution is passed as a
credit to the shareholders
B: The organisation pays corporate income tax on its profi ts and the shareholder pays
income tax on the dividend received
C: Withholding tax paid on dividends is passed as a credit to shareholders
D: A percentage of the underlying tax is passed as a credit to shareholders

Answer: A

Cima E1 Exam Question No 10

Question No 10:

Rollover relief allows?

A.Deferral of the payment of corporate income tax on gains arising from the disposal of
a business asset
B. Stock values to be rolled over; replacing cost of purchases with current values
C. Trading losses to be carried forward or rolled over to future periods
D. Capital losses to be carried forward or rolled over to future periods

Answer: A

Cima E1 Exam Question No 9

Question No 9:

The following is a list of payments which an organisation may incur during a year:
(i) capital withdrawn from the business;
(ii) interest paid;
(iii) legal expenses;
(iv) payments for domestic expenses of the directors;
(v) advertising.
Which two of the above items of expenditure will normally be disallowed for corporate
income tax purposes?

A. (i) and (iii)

B. (i) and (iv)

C. (ii) and (iv) 

D. (iii) and (v)

Answer: B

Cima E1 Exam Question No 8

Question No 8:

Accounting depreciation is replaced by tax depreciation?

A. To reduce the amount of depreciation allowed for tax
B. To increase the amount of depreciation allowed for tax
C. To ensure that standard rates of depreciation are used by all organisations for tax
purposes
D. So that the government can more easily manipulate the amount of tax organisations pay

Answer: C

Cima E1 Exam Question No 7

Question No 7:

A schedular system of corporate income tax means?

A. A method used to calculate the corporate income tax payable
B. A system that has a number of schedules which set out how different types of income
should be taxed
C. A system that has a number of schedules which set out when tax returns and tax
payments should be made
D. A system that has a number of schedules which set out the various tax rates

Answer: B

Cima E1 Exam Question No 6

Question No 6:

What are the Types of process technology?

- Computer-integrated manufacturing (CIM): CAD and CAM
- Flexible manufacturing systems (FMS)
- Computer numerical control (CNC): a computer converts the design produced by CAD into numbers, allowing the creation of almost any desired pattern or shape => reduced costs
- Automated guided vehicles (AGVs)
- Robots
- Decision-making systems: EIS (BI), MIS, TPS, DSS
- Expert systems
- Material requirement planning (MRP): computerised system for planning the requirements for raw materials, work-in-progress and finished goods

Cima E1 Exam Question No 5

Question no 5:

With reference to an entity paying tax; which of the following is the best defi nition of
competent jurisdiction
A. The country whose laws apply to the entity
B. Any country where the entity has operations
C. Any country where the entity has an offi ce
D. Any country where the entity has employees

Answer: A

Cima E1 Exam Question No 4

Question No 4:

What is  The 4 Vs of operations?

Answer:

Volume
Variety
Variation in demand
Visibility

Volume of inputs
Variety of inputs
Visibility to its customers