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.

Cima E1 Exam Question No 70

Question No 70:

What is the marketing concept?

A philosophy of business, that holds that the key to organisational success is meeting customers' needs more effectively ad more closely than competitors (a belief system)

'We are importing and exporting knowledge through commerce'

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How did El Comercio begin for you?

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How was El Comercio in the Past and Now How is it?

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What role does ethics play in trade? Is any specific discipline in ethical trading?


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Which children are the New Investigations underway in the Field of Commerce?


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