Annual graduation ceremony in ZambiaCIMA Zambia hosted its annual graduation ceremony on Saturday 21 March 2009.

The event was officiated upon by the honorable minister of Education Prof Geoffrey Lungwangwa. In his welcome remarks, Ray Perry, CIMA Director of Brand noted the increased global relevance, reputation and demand by employers of the CIMA qualification and commended those studying for the qualification for making the appropriate career choice.

In delivering his officiating speech at the event, Prof Lungwangwa implored CIMA to take the CIMA and public/private sector collaboration to provide support to the

Copperbelt University in accounting and business degree curriculum review and update to reflect contemporary issues affecting commerce and industry.

The event saw 26 passed finalists, 71 Advanced Diploma in Management Accounting and 34 Certificate in Business Accounting graduates over the year 2008 receive their certificates. Zaineb Chitbolo and Kangwa Chileshe received the joint award for the best TOPCIMA graduates. CIMA Southern Africa Regional Director Samantha Louis urged passed finalists to apply for CIMA associate membership as becoming a Chartered Management Accountant is the ultimate goal of completing the CIMA qualification.

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Transnet Freight Rail (TFR) wins awards

Luis Gillman ACMA

TFR has won a CIMA Financial Management Award for its innovative activity based costing system. The awards were held in London last year. TFR is South Africa’s sole provider of railway freight services. The company moves about 180 million tonnes of goods over its 17,000km of track every year and has an annual turnover of R16.5bn.

Luis Gillman ACMA, Senior Manager at TFR

who headed the development and implementation of this system said, ‘I was very excited about the award as many hours of hard team work and intellectual input were recognised’.

CIMA short listed TRF for two prestigious award categories: Finance Team of the year: Public Sector and Innovation in Management Accountancy. As the only South African company short listed for these two awards, they competed against several international companies including CapGemini and National Australia Group. The nominations were the result of the development of a system for costing railway movements, which has been termed Network Activity Based Costing (NABC).

Luis added ‘I felt that we were making a difference both to the company and to the broader accounting community. The concepts outlined in Network Activity Based Costing have wide applications for members who often battle to implement activity based costing systems in network industries including railways, trucking, telecommunications, courier, airlines and post offices’.

TRF devised a practical and imaginative activity based costing model in a fiendishly complex industry. The modeling tool also provided flexibility so that reports could be generated from any perspective at the click of a button.

CIMA has launched the 2009 awards which will be held in on 26 November. The awards acknowledge excellence in management accounting and honour the people, the teams and the organisations that have made a significant contribution to the profession over the last year.

There are 12 award categories, including the addition of a new category ’Unlocking business intelligence’ to recognise the finance team which has successfully implemented a business intelligence project.

To lead the way and be recognised for your outstanding achievements in 2009, go to: www.cimaglobal.com/awards for nomination details, categories and judging criteria.

Congratulations to Transnet Freight Rail for this prestigious award.

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New partnership with employers

Neil Strydom, Partner at EAVE Incorporated and Ray Perry, CIMA Director of Brand

EDI Holding staff: Mthuthuzeli Motaung, Mmushi

Nkome, Sandra Neilings, Ray Perry ,CIMA Director of

Brand , Nirisha Haripersad and Frank Hinda

EAVE Incorporated is a firm of registered accountants focused and committed to providing a comprehensive financial service. They make use of the latest computer software programmes to facilitate the completion of all aspects of each engagement.

In line with their passion, they are able to offer the following broad services to their clients:

Accounting officer to closed corporations•Bookkeeping services•Taxation•Payroll•Secretarial services•

The following companies have recently signed up as CIMA Training Partners:

Electricity Distribution Industry (EDI) Holdings was established in March 2003 by the Department of Minerals and Energy for the sole purpose of facilitating the restructuring of the National Electricity Distribution Industry in accordance with the requirement of the energy white paper and subsequent cabinet endorsements.

Some of their objectives are to:

provide low cost electricity to all consumers, with •equitable tariffs for each customer segment provide a reliable and high quality supply and service to •all customers, in support of the government’s economic and social development goals.

CIMA Training is a free of charge, ready made package for our employer partners which ensures the training of Chartered Management Accountants is delivered everywhere to the same consistently high standard.

In South Africa the scheme also includes learnerships, a work based approach to learning and gaining qualifications which includes both structured work experience (practical) and structured institutional learning (theory).

What benefits can employers expect when they sign learners onto a learnership agreement?

Train and develop your staff through the various levels •of CIMA in a phased approach, designed to integrate theory and practice.Skills Development Levy (SDL) calculation: salaries •of registered learners are excluded from the SDL calculation. Tax incentive: organisations can claim up to R60, 000 •in income tax deductions by signing up CIMA learners on any of CIMA’s three learnerships.

For further information on how to become a CIMA Training Partner and the value it can add to your organisation please visit: www.cimaglobal.com/cimatraining or contact the regional office on 0861CIMASA or your local office to obtain a contact number for one of the business development managers in your area.

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Southern Africa AGMs and 90th celebration photo gallery

Western Cape branch committee with

Edwin Scott FCMA, at the Western Cape

AGM

Eastern Cape branch committee at the

Eastern Cape AGM

Musa Shabane ACMA, KwaZulu-Natal branch president, Shane Villa, Ayesha Akoob and Anne Cordjohn at the AGM

Victor Nyasulu ACMA, branch president speaking at the Zambia AGM CIMA staff and Botswana branch committee at

the Botswana AGM

Ray Perry, CIMA Director of Brand with

Erasmus Smit (Passed finalist) at the

Gauteng AGM

Herman Kriel FCMA, with Pieter Schoeman, TOPCIMA top student in the November 2008 examination diet in South Africa and ranked fourth globally

Abu Bakr Jhavary at the KwaZulu-Natal

AGM, he was awarded top student for

Management Accounting Performance

Evaluation at the November 2008

examinations diet in South Africa

Kevin Milne of Investment Solutions (sponsors of the Eastern Cape AGM and annual dinner) and Eastern Cape branch president, Winston Simpson

Southern Africa Annual General Meetings CIMA held its AGMs throughout the region during the month of March; the events were attended by a total of over 400 members and students. CIMA also acknowledged top achievers in the May and November 2008 examination diet, including students who successfully

completed all their CIMA exams in 2008. We would like to express our thanks to Professional Assignment Group (PAG) for sponsoring the KwaZulu-Natal AGM, Investment Solutions for sponsoring the Eastern Cape AGM and to Network Finance for sponsoring the Gauteng AGM.

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Angus De Beer ACMA, youngest member in the Eastern Cape and the branch committee at the Eastern Cape AGM

Musa Shabane ACMA, KwaZulu-Natal branch

president at the KwaZulu-Natal AGM

Edwin Scott FCMA, 90 year old

member cutting the cake to

celebrate CIMA’s 90th anniversary

at the Western Cape AGM. Mr

Scott was born seven days before

the founding of CIMA then The

Institute of Cost and Works

Accountants (ICWA). He qualified

as a Chartered Management

Accountant in the 1950s

Joseph Lukoma, Botswana branch president,

Tabake Kobedi ACMA, founder member and past

president of the Botswana branch committee and

Enid Simbule ACMA, Botswana branch secretary at

the Botswana AGM

Lara Maré ACMA, youngest and newest member in Gauteng and Ray Perry at the Gauteng AGM

Satish Gulati ACMA, branch committee member at the Zambia AGM

CIMA’s 90th annivesary At the Southern Africa AGMs, CIMA celebrated its 90th anniversary. We were honoured by the youngest member (by age) at the Eastern Cape and Gauteng AGM, the 90 year old member at the Western Cape AGM who made

the event memorable by cutting the 90th birthday cake. In other AGMs the former and present branch presidents and committee members did the honours of cutting the cake.

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New stockists for CIMA study materialsAs of 1 May 2009 the CIMA regional office in Johannesburg will no longer be selling CIMA study materials. To ensure the best possible service to students Pro Visions Books and Book Express will carry all CIMA material.

For over 15 years Pro Visions Books, based in Durban, has been focused on providing students with affordable textbooks across South and Southern Africa. In 2005 Book Express was then launched in response to a growing demand to service students and corporate clients in Gauteng and other provinces.

They offer second hand books through a safe and simple commission based system in which over 13 000 students have registered for this service.

Pro Visions Books and Book Express accept multiple payment options including cash, credit cards and electronic payments. They also offer overnight or standard courier/postage services at competitive rates. Postage and courier options are also available to students outside of South Africa. Both branches offer Sunday and extended hours during the months of January and February.

For further information on CIMA study materials, you can

contact them by email, SMS, fax, telephone or visit them in store. They can be reached on the following details:

Pro Visions Books37F Ordnance Road, Durban, 4091T. +27 31 337 2112F. +27 31 368 4500M. +27 83 887 3113 (SMS only)E. info@provisions.co.zaW. www.provisions.co.zaOperating hours: Monday to Friday from 8.30am – 4.30pm and Saturday from 8.30am – 12.30pm. They offer Sunday and extended hours in January until March.

Book Express70b Loch Avenue, Parktown West, 2122T. +27 11 482 8433F. +27 11 726 8208M. +27 84 444 5158 (SMS only)E. info@bookexpress.co.zaW. www.bookexpress.co.za (coming soon)Operating hours: Monday to Friday from 8.00am – 5.00pm and Saturday from 8.00am – 1.00pm. They offer Sunday and extended hours in January until March.

CIMA World ConferenceThe global village - no boundaries, no limits

Bringing together outstanding business speakers from around the world, the second CIMA world conference will give you the opportunity to hear and network with people who have successfully transcended global barriers to reach the top of their industries.

When and where

The conference will be held on 13 and 14 July 2009 at the prestigious Kuala Lumpur Convention Centre (KLCC) in Kuala Lumpur.

Book now

For further information about the CIMA World Conference 2009, please contact us at cimaworldconference@cimaglobal.com

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Diary of eventsFace to face membership assessmentsFace to face membership assessments have proven to be a great way to achieve your CIMA membership as it means:

you have a face to face interview with an assessor•the assessors have a chance to ask questions about •your experience rather than writing to you for further informationyou get immediate feedback as to whether you have •met the requirements or what you need to do to fulfil them.

The assessments will be available only to passed finalists applying for the first time and will be held on the following dates:

Cape Town -16 MayZambia -19 May Johannesburg - 22 and 23 May

Further information on the face to face sessions will be circulated via email. Alternatively, please do not hesitate to contact the regional office in Johannesburg for further information.

IoD seminarsThe following seminars are presented by IoD, however bookings are made through CIMA. Full details of each course together with a detailed outline and booking form, will be sent to you by email ahead of each event. If you require further information please contact: talitha.mokoka@cimaglobal.com

1. Being a director – part 1: a practical approach to implementing corporate governance 4 May - Johannesburg

2. Being a director – part 3: directors role in risk and strategy 6 May - Johannesburg

3. Insights into King III 14 May Johannesburg 21 May - Durban

4. Building effective audit committees – half day 19 May - Johannesburg

5. Effective meetings – managing the meeting process 15 May - Johannesburg

6. Finance for directors 12 May - Cape Town

7. Introduction to corporate governance 21 May - Johannesburg

8. Accelerated directorship programme (ADP) 25 - 29 May - Johannesburg

9. Companies bill programme – five part series 12 May (part 3) - Johannesburg 15 May (part 2) - Johannesburg 29 May (part 4) - Johannesburg

Altimax seminarsThe following seminars are presented by Altimax, full details of each course together with a detailed outline and booking form will be sent to you by email ahead of each event. The arrangements and bookings for each workshop will be handled by Altimax. For further information please contact them at cpd@altimax.co.za

1. VAT12 May - Durban13 May - Bloemfontein 14 May - Midrand15 May - Pretoria18 May - Cape Town19 May -Vereeniging21 May - New Castle22 May - Port Elizabeth

2. GAAP / IFRS update11 May - Cape Town12 May - Port Elizabeth13 May - Vereeniging18 May - Bloemfontein19 May - Midrand21 May - Durban26 May - New Castle27 May - Pretoria

Send your contributions to: The Editor, The Bottom Line PO BOX 745, Northlands, 2116 • Email: tsholofelo.dihutso@cimaglobal.com • Tel: 011 788 8723 • Fax: 011 788 8724Design by StopDesign • Tel: 011 327 0215 • Published by BusinessBrief Publishing • Tel: 011 788 0880

Exclusive Books’ top 10 business readsFrom www.exclusivebooks.com

Small businesses at greater risk from fraud in recession

Business stripped bare1. The Snowball2. Outliers3. What They Teach You at Harvard Business School4. Capitalist Nigger5. Rich Dad, Poor Dad6. The Management Bible7. Warren Buffett and the Interpretation of 8.

Financial StatementsScrew It, Let’s Do It9. Who Moved My Cheese?10.

Businesses across the world must step up their vigilance on fraud risk in times of economic stress, this is according to the launch on 16 February of CIMA’s ‘Fraud Risk Management: a guide to good practice’, this is particularly important for small businesses.

As recent high profile cases have centred on multi-nationals, SMEs may not realise that they are often more susceptible to fraudulent practices, and that they can be hit by proportionately higher losses which could prove crippling in the current economic climate.

‘Fraud Risk Management: a guide to good practice’, has been revised to reflect recent findings on the problem of fraud against businesses and the latest governance and legal requirements aimed at tackling this issue. The guide begins by setting fraud and fraud risk management in context. It provides up to date information on the following:

what is fraud? •the extent and scale of the problem •fraud and the law •corporate governance •the risk management cycle.•

It also covers the key components of an

effective anti-fraud strategy. Practical guidance, including

essential tools and techniques,

are given for fraud prevention,

fraud detection and fraud response.

CIMA’s approach is being endorsed by the Chartered

Management Institute (CMI) following the publication of data which reveals low

levels of trust within UK organisations coupled with fears over financial management capabilities. For example, data published by the CMI shows that 35% of individuals believe ‘managing costs’ is the biggest challenge they face. For more information on the subject visits the CIMA website at www.cimaglobal.com/fraud