Thursday, 31 December 2015

Cima E1 Exam Question No 44

Question No 44:

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

A virus
Corrective maintenance
Electronic Data Interchange (EDI)
Cyber bullying

Answer: A

Sunday, 27 December 2015

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.

Thursday, 24 December 2015

Cima E1 Exam Question No 43

Question No 43:

A psychological contract refers to which ONE of the following?

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

Answer: B

Thursday, 17 December 2015

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?

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

Answer: B

Sunday, 13 December 2015

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.

Thursday, 10 December 2015

Cima E1 Exam Question No 41

Question No 41:

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

System testing methods
Supply relationship categories
Ways of classifying inventory
Ways of estimating market potential

Answer: A

Thursday, 3 December 2015

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?

Career planning
Succession planning

Answer: A