Cima E1 Exam Question No 57

Question No 57:

Under a free market economy prices are determined by which ONE of the following?

A. The stock market
B. Government regulation
C. Multinationals
D. Supply and demand

Answer: D

Cima E1 Exam Question No 56

Question No 56:

Which ONE of the following is NOT normally a barrier to international trade?

A. High levels of consumption tax
B. Subsidies for domestic (home) producers
C. Customs duties
D. Embargoes

Answer: A

Cima E1 Exam Question No 55

Question No 55:

A lean approach is associated with which ONE of the following?

A. Supply sourcing strategies
B. Demographic profiling
C. Employee selection criteria
D. Removal of waste

Answer: D

Zoe Kirby comes in the global top ten in accountancy exams

Zoe Kirby, 38 and mother of two children, Littleborough, achieved an impressive feat and won second place worldwide in the last Chartered Institute of Management Accountants (CIMA) exams case studies.

Mrs. Kirby was second in the world in the consideration of the case study CIMA management.
He studied with iConta training in Manchester, won 129 out of 150, beating out more than 1,000 other students in the exam in the world.

Originally from Littleborough, Ms. Kirby attended the School Wardle and Hopwood Hall College in Rochdale, before winning Degree in Management from the University of Salford.

Ms. Kirby is CFO of a global transportation company based in Rochdale frankly that she helped her father and brother began when he left college, and where he has worked since. What began as a family business, InXpress, it was a great success and in the last 17 years has increased domestically and internationally. Currently there are 85 franchises in the UK, with many others around the world, in 11 countries around the world - including the United States, Canada, Australia. Zoe and her husband own and run InXpress also deductible.

To become a certified management accounting world, students must complete 12 professional qualification exams that require personal study and dedication. It is complemented by a three-year experiment that can be acquired while studying.

Mrs. Kirby said of his success: "It was fantastic and I was told that I was in the top ten in the world in this review and did all the hard work study useful The test was hard, but I had a lot of support Icount both training and. the. I chose CIMA qualification to help me develop in my current position, and family have a formal popular financing qualifications. that progress on the way from complete and examinations so far have given me not only the basic knowledge of accounting management, but it has also helped me understand the broader business context of my work. "

Bob Beedham, FCMA, CGMA, Area President CIMA - North West England, said: "The dedication of Zoe to his studies paid off very well and is a fantastic achievement to reach the top ten worldwide this professional review business. I hope his success show others who are studying for their qualification CIMA how hard work can really be rewarded. CIMA qualification produces versatile professionals with the breadth and depth of knowledge in the community of practical business, and I wish Zoe every success as he continues his journey to become a full Management Accountant CIMA ".

Stephen Flatman, director of examinations of CIMA, said: "It's fantastic to see these excellent results of examinations by Zoe and the other students, who were sitting documents worldwide This is a tribute to the ethics that is proud. CIMA, dedication and hard work can produce better results. "

CIMA has formed a joint venture with the American Institute of Certified Public Accountants (AICPA) to establish the Chartered Global Management Accountant (CGMA) for qualified CIMA members. CGMA is the global quality standard that further elevates the profession of management accounting.

Cima E1 Exam Question No 54

Question No 54:

 Which ONE of the following is NOT a cost of quality?

A. Internal failure
B. Appraisal
C. Prevention
D. Transaction

Answer: D

Certification Paid off for Management Accountants

The Institute of Management Accountants Thursday released its salary survey shows that accountants worldwide who are certified by the accounting program received a certificate management more base salary and total remuneration without accounting certification.

In the US, the CMA earn 31 percent more average total compensation unlicensed professionals ($ 127,200 against $ 97,000). The median total annual compensation for all respondents in the US It is $ 120,000, up 6.2 percent compared with last year's figure ($ 113,000).

While the CMA in all age categories earn more than their non-certified counterparts worldwide, CMA professionals in the 30-39 age group outearn its components not certified by 40 to 50 hundred enormous. People 50 years and older with CMA receive more than $ 23,000 more in median total income than non-CMA ($ 138,413 against $ 115,000).

The data come from more than 2,500 respondents in 81 countries. financial professionals worldwide, CMA-certified in America, Asia, Europe, the Middle East and Africa earn 61 percent more than their non-CMA. This finding indicates that the value of employers worldwide in the skills possessed by the CMA that traditional accounting and financial roles continue to evolve.

In addition to a survey of highest total compensation this year shows a positive outlook for increases in the accounting profession. As the salary survey 2014, more than three quarters of respondents expect to receive an increase this year, with an average expected increase of 8 percent.

However, wages and total compensation vary considerably depending on the area of ​​responsibility. Internationally, those working in education, information systems, accounting and public accounting firms will demand higher wages. Public accounting is still the lowest paid sector worldwide.

For the first time in the history of the annual survey, the number of Chinese respondents (28.6 percent) exceeded the number of US respondents (26.3 percent), reflecting the focus on management accounting and the CMA in china. Asia also experienced the largest increase in the powers of the CMA and increased surveyed. While aggregate wages are lower than last year overall, the decrease is due largely to lower wages in regions like the Middle East and North Africa.

"CMA in all regions believe that certification improves their ability to move into the business areas", research director Kip IMA Krumwiede, who wrote the research. "The certified professionals say significantly higher wages and overall than their non-certified compensation.

This wage premium and career opportunities more available to CMA includes the present value of this program."

IMA CMA certification has been competing in recent years against the designation of Certified Management Accountant world offered by the American Institute of Certified Public Accountants and the Chartered Institute based in UK of Management Accountants.

Organizations have begun to offer the appointment in 2012 to members who were already accounting management on the basis of acquired rights, and last year a testing program began. However, the IMA maintains that his opinion is more rigorous.

"It's a different philosophy," said President and CEO Jeff Thomson IMA. "From this last May or June here in the US, if you are a US CPA, besides writing a check that you really have to pass an exam in one piece. It is a study case I think three hours is sent several weeks or months in advance.

We have a different philosophy in testing, in terms of multiple choice and a base case and an objective basis. we have not seen the results of this APC first window taking CGMA . we do not have strong opinions either way, except that we know that our metaphor test provides accounting of credible and competent management throughout the world, and I'll leave another if a single case study is the best way to test skills objectivity " .

Cima E1 Exam Question No 53

Question No 53:

Which ONE of the following is associated with recruitment rather than selection?

A. Assessment Centres
B. Interviews
C. Advertising Copy
D. Psychometric Testing

Answer: C

Sri Lankan Businesses Waste 4 Per Cent Yearly

Sri Lanka wasted organizations an average amount of 4% of turnover each year, according to a new study by the Institute of Management Accountants (CIMA). Among the most common causes of losses were projects that were canceled after its creation - with 38% wasted costs in this area to admit - followed by delayed (66%) projects and excess goods and services (26 %).

CIMA interviewed more than 2,000 financial professionals, 59% admitted that their organizations lack any strategy to boost cost competitiveness. Another 48% of respondents said there is little or no mandate within their organizations to reduce costs when making decisions daily.

Demonstrate a gap between expectations and reality, 80% of respondents believe that the promotion of a culture were aware liability costs of your management team. But on the contrary, the results revealed that only 27% of a member of the board responsible for maintaining cost competitiveness.

As for breathlessness in Sri Lanka organizations to change bad habits, 21% of respondents said employee incentives are poorly designed to promote cost control; 12% believe that cost control strategies are ineffective. In addition, 21% believe that technology and analytical data are misused within their organizations.

Peter Spence, director of Performance Management Research CIMA said: "The balance between short- and long-term requires the commitment of management accountants, who have a good understanding of the factors of cost, risk and value through the organization of the value chain CIMA. members have never been more relevant for sustainable success in the volatile world of business today, where there is uncertainty in every corner. "