Thursday, 30 July 2015

Cima E1 Exam Question No 24

Question No 24:

Who is responsible for the preparation of the financial statements?

The entity accountant
The auditors
The entity directors
The shareholders

Answer: C

Wednesday, 29 July 2015

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)?

Furthering humanitarian causes
Championing social causes
Making profits
Exercising independence

Answer: C

Sunday, 26 July 2015

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.

Wednesday, 22 July 2015

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

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

Answer: D

Thursday, 16 July 2015

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:

Sunday, 12 July 2015

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:

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

Answer: A

Wednesday, 8 July 2015

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."

Sunday, 5 July 2015

Cima E1 Exam Question No 20

Question No 20:

What is Different Economic Systems?
  • Planned economy
  • free market (capitalist) system.
  • mixed economic system