cima india march 2013 newsletter

Keeping a tab on the world of business

Vol IV

1

March-April 2013

Content

Message from Ayan ...................1

Recap ......................................... �2

People Matter Round Table

GBC regional round

CIMA Convocation 2013.................3

Up Next .................................... 3

Revision Lectures

Whiz competition ��

Member Speak ......................... 4

Latest Vacancies on CIMA MYJOBS ....................................6

Important Dates ..................... 6

CIMA Applause – November 2012 (PC Based) ........................ 7

New Members – ......................... 8

CIMA in News ............................ 8

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November- December 2012

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In the year 2013, five more universities have shown interest in partnering with CIMA to offer the qualification as an option to their undergraduate students.

Greetings from CIMA India! qualification within the reach of more number of students, has led to It is my privilege to write the university partnerships with Manipal introduction to this edition of CIMA University and Symbiosis Centre of Pulse. To introduce myself, I am Ayan Distance Learning in 2012. In the year Mahapatra, my team and I work towards 2013, five more universities have shown building partnerships with educational interest to partner with CIMA to offer institutions and tuition providers in India the qualification as an option to their to make CIMA more accessible to undergraduate students.students around the country.In 2013, we will continue to expand our Last year, CIMA focused on creating new partnership network while we support learning partnerships across India with existing partners to succeed and sustain.leading professional accounting training

institutions. The idea was to help CIMA The academic relations team is proud to students to progress to the next level of contribute to CIMA's mission to help qualification and the result is visible with people and businesses to succeed, by most of the learning partners registering growing the talent pool of financially pass rates above 70% and one partner qualified business leaders, who drive even registering a 100% pass rate in business success. November 2012 exam across all levels. We are grateful to the CIMA students Our endeavour is to make quality and members who have consistently tuitions available in every city where we supported our initiatives by volunteering have a substantial student population. to speak at or judge college and Through our learning partnerships, we university events organised by CIMA. If have now reached out to places like you would like to be a part of CIMA's Jaipur, Lucknow and Ranchi. Over the academic partnership initiatives in the past two years, we have seen an increase future or would like to recommend a in the number of students opting for college/training institute in your city as tuition support with such learning a partner, please do get in touch with us. partners, which is encouraging for us and We would appreciate and look forward our partners. to your continued support.

Our efforts towards bringing the

Message from Ayan MahapatraNational Head - Academic Relations

Eastern Regional Winners:

here

Khushi GuptaAjinkya MalasanePriti ChoudharyMriganka Pattnaik

Find the online article to know the winners for Best Business Report, Best Speaker and other awards.

Western Regional Winners:

here

Soham KanadeAshwini KoltePrachi VaidyaAbhyudaya Choumal


Southern Regional Winners:

hereFind the online article to know the winners for Best Business Report, Best Speaker and other awards.

Akshay PatilShantanu RaiChiranth HegdeChirag Mahapatra


Date: 22 March 2013Time: 7:00 pm to 08:30 pmVenue: The Leela Kempinski, Gurgaon

CIMA along with People Matters organised an Evening Round Table on the theme "L&D: Building Efficiency, Impacting Business" at The Leela Kempinski, Gurgaon on Friday, 22nd March 2013 from 7:00pm – 8:30pm.

Kedar Vashi, National Head – Learning & Development, Hindustan Coca-Cola Beverages and Ester Martinez, Editor-in-Chief, People Matters Media, led the round table session.

The objective of the event was to recognise that looking at learning interventions in isolation is not enough, and that this alone cannot deliver the desired business outcomes. There is a clear need to look at integration of learning initiatives and

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keeping it at the center of business – a time for companies to celebrate L&D and the impact it can have on business and the bottom line.

Evening Round Table with Learningand Development (L & D) Heads

The Global Business Challenge, Regional rounds were successfully held at Delhi, Bangalore, Mumbai and Kolkata. 483 teams participated in GBC this year.

We congratulate all the deserving winners of Regional Finals for CIMA GBC 2013 and also to other category-wise winners.

Vaibhav Yadav

Deepanshu AgarwalSurabhi Yadav

Sahebjeet Singh Arora


Northern Regional Winners:

here

GBC regional round

The Ambers IIT Delhi

Infinity Plus One

Sardar Patel Institute Of Technology

Shudh NIT, Surathkal

BreakevenIndian Institute Of Technology, Guwahati

The Round Table was attended by L&D Heads, HR Heads and Senior HR Professionals.

20th April

21st April E1 - Tharindu E3 - Arj F1 - Tariq

27th April

28th April E2 - Tharindu P3 - Shrikant F2 - Tariq

4th May

5th May

Dates Morning Afternoon Evening

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Panel Discussion with People Matters Magazine

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The CIMA India Liaison Office conducted the first ever CIMA Convocation event in Bangalore and Mumbai. Mr. Gulzari Babber, President, CIMA conferred the membership certificates

CIMA Convocation 2013

ne tUp

Revision Lectures

As a continuation to our efforts to support students in the exams, we would be conducting free revision workshops for the May 2013 exam diet. We plan to hold this workshop in the form of Web conferences. The details would also be available on the CIMA Facebook Page and would be mailed to you.

to those who acquired CIMA membership in 2012. He also presented trophies of recognition to students for outstanding performance in CIMA Exams.

Please send in your confirmations at [email protected]

A case study competition for professionals working in different job roles across reputed organisations nationally. The competition aims to bring together tomorrow's business leaders on one common platform and help them “think and take decisions like a business leader”.

The Whiz competition will challenge the participants to evaluate an industry based business scenario. The emphasis on the evaluation would be on – analysis, judgement & creativity based on the financial and non-financial data provided in the business scenario.

The competition is likely to witness participation from leading organisations to compete at the city level (Bangalore, Chennai, Mumbai & Delhi) culminating in the National Finals to be held on 29th June 2013.

If you would like your organisation to participate, please The registration is open from 15th March – 15th April.

click on Register

Whiz Competition

Bangalore event

Mumbai event

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The US House of Representatives passed legislation on January 1, breaking an impasse over how to prevent more than $600 billion in tax increases and spending cuts from coming into force. The so-called fiscal cliff had threatened to push the world's largest economy into a recession. The budget package passed by Congress though won't reduce deficits enough to avoid a sovereign rating downgrade and maybe a financial chaos ahead; the rest of the world however, is watching and trying to get cues to understand its impact on business.

Confused? You may be if you are not a 'Management Accountant'. As business managers we have to face economic challenges that are thrown at us which are

space, which is and has always been a more often than not, not due to our own Shrikant Koundinya, Vice President (Market major segment within the financial asset making as we are merely at the receiving Development & Training), Universal class, even the minor economies have had end and we will continue to be until Commodity Exchange, is a Fellow Member major impact on businesses. An event that economies grow to their potential. As of the Chartered Institute of Management comes to mind is the oil pipeline explosion Management Accountants we are well Accountants having diverse experience in in Ije Ododo, on the outskirts of Lagos, placed to understand the systematic risk finance and capital markets in areas such Nigeria in December 2012. The and provide solutions to our immediate as audit, research, ERP, MIS and training. International Energy Agency recently business environment and it is for us to His areas of specialisation are exchange risk estimated that widespread thefts of crude stand-up and be counted as professionals management, market operations, clearing oil in Nigeria, cost the country $7 billion a who can decipher the complex global and settlement, delivery mechanism and year. As the gasoline pipeline burned trends with all the economic indicators and price risk management amongst others. unstopped, countries and entities that do provide clear, timely and decisive solutions

He has designed and delivered business involving oil watched with baited to our respective corporates. presentations to corporates, banks and breath the price movement, and calculated

Systematic risk can be mitigated only by academic institutes in all financial asset risk impact. being hedged, and as a Management classes and was involved in imparting

According to data compiled by the IMF, Accountant working for a commodity knowledge to regulators in Mauritius & nations around the world, from Brazil to exchange, I am perfectly positioned to Maldives ( Financial Services Commission, Iraq to China have bought gold to add to spread awareness, educating various CMDA) besides taking part in the World their official reserves. While Credit Suisse participants to hedge their raw material Bank aided project, International Food forecasts a 2013 average of over price risk on commodity exchanges and Policy Research Institute (IFPRI) for training $1,700/troy ounce, it expects improved likewise, currency risks on currency professionals from Ethiopia. economic growth later this year to curb exchanges. The CIMA syllabus is broad-

Shrikant has lived and worked in Africa and gold's appeal. This is again the result of based, providing us flexibility to effortlessly the United Kingdom and has worked with a economic expectations from the Euro zone fit into any situation. It gives us number of exchanges and corporates. and America having its impact felt across tremendous satisfaction to relate even

smaller economies. purely theoretical concepts to our daily He shares some vital insights and work environment as below.emphasises on the approach a Turmeric exporters, from the state of

management accountant should have. Kerala in southern India watch nervously We all know the definition of 'Perfect while the elephants play ball. India Competition' which has been a part of all accounts for a little over 80% of the curriculums in basic economics and also a world's turmeric production and the part of 'basic economics' where it is defined

The Changing Environment: In this day manner in which the currency will move as a market structure in which the and age, we are swamped with economic will have consequences. The problem is following five criteria are met: information emanating from all the major that the Rupee-Dollar exchange rates Many buyers & sellerseconomies of the world. In the commodity continue to remain volatile. Freedom of entry and exit

Management Accountants must apply the concepts

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Member Speak


Shrikant KoundinyaFCMA, CGMAVP-Market DevelopmentUniversal Commodity Exchange

As a Management Accountant working for a commodity exchange, I am perfectly positioned to spread awareness, educating various participants to hedge their raw material price risk on commodity exchanges and likewise, currency risks on currency exchanges.

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Member Speak


All firms are price takers and have a easy to enter or exit a Perfectly The ticker on the bottom of the screen relatively small market share. also displays all information relevant Competitive market.Perfect information to the contract which helps decision

For trading purposes there are Homogenous or identical product making.generally no entry and exit barriers

And finally we can say that all It is a theoretical market concept, often in the exchange industry. As long information is available to all used as a yardstick against which other as one trades on the exchange, participants on an equitable basis; market structures such as monopoly, within the stipulated trading hours same information to all, at the same oligopoly etc., are compared. However, in and within the limits set for trading by point in time. the ‘Exchange traded derivative’ industry, a the exchange/regulators (such as

very distinctive comparison can be made position limits/ financial limits), one can Homogenous or identical products and similarities can be appreciated. It must enter and exit the contract at will. - The qualities and characteristics of a be observed that the regulatory structure market good or service do not vary Participant is a price taker, and upon which exchanges are based have between different suppliers.does not have the ability to effectively helped in meeting some of the influence the price of the product. As far as exchange traded assumptions on which Perfect Competition derivatives is concerned, we The number of trading participants criteria are based. cannot have a more homogenous for a contract automatically

tradable item than a financial ensures that an individual participant, derivative contract, where the whether a buyer or seller, is not able to specifications do not change Many buyers and sellers – An influence the price.during the trading life of the infinite number of consumers with the

One can trade only within the contract.willingness and ability to buy the limits prescribed for trading. The fact

product at a certain price, and infinite that a contract is launched for trading

producers with the willingness and means that a high level of participation

ability to supply the product at a has been assured. In cases the

certain price.participation levels were to fall,

On an exchange traded derivative commonly referred to as 'poor liquidity', platform, financial contract is the the exchange stops further launch of any product that is bought and sold. On a new contracts in the failed commodity.commodity exchange the underlying

A single participant is so small for a financial derivative instrument is

relative to the entire derivative market the physical commodity. For example,

that their presence or absence leaves the a Gold futures contract is backed up

price very nearly unaffected.by a healthy physical market in Gold;

Perfect information - All consumers likewise Soya bean futures contracts and producers are assumed to have are backed by a flourishing Soya bean perfect knowledge of price, utility, physical market. Both the exchange and quality and production methods.the regulator take the initiative for

conducting a thorough market research On an 'Exchange traded derivatives' in order to ascertain whether a contract platform the participants have near should be designed and launched. An perfect information.existing healthy trade is an indication Thanks to the electronic platform, the that there could be tremendous interest trader work station (TWS), all which could translate into high participants can view online the trading transaction volumes for exchange traded taking place. All participants are contracts; and in this manner the informed about the quantity and price of assumption of many buyers and many the last trade made.sellers laid out in the perfect

On the TWS one can view the number of competition assumptions is met.participants waiting in the wings to buy

Free entry and exit barriers – or sell (quantity & price) the contracts.Lack of barriers make it extremely

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Basic characteristics of Perfect Competition and Exchange Mechanism•

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Conclusion: The assumptions based on which the micro economic concept of 'Perfect Competition' is founded have been successfully adopted in exchange traded derivative segment, where almost all the conditions are met ensuring that the trading takes place in a perfect environment. It must be stated that technology is the basis on which information is decimated in an equitable manner. Trading in exchange traded derivatives instruments is a current day example where theory and realism meet. The true reward for a 'Management Accountant' is to be able to apply the concepts, earned through hard work.

Important Dates

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Latest Vacancies on CIMA MYJOBS


2013 Exams dates - May 2013 Extra - T4 only

For more vacancies, log on to http://myjobs.cimaglobal.com

Employer : Hewlett Packard (HP)Position : Industrial Training Program -

Internal AuditLocation : BangaloreSector : ITLink : http://myjobs.cimaglobal.com/job/

473284/industrial-training-program-internal-audit

APPLY

Current opportunities for CIMA qualified professionals

Exam entry deadline students 12 April 2013

Tuition provider web entry deadline 17 April 2013

Deadline for applying for extra time 17April 2013

Pre-seen material for tutors/ students Mid January 2013

Exam fee deadline 1 May 2013

Admission advice w/c 6 May 2013

Exam 23 May 2013

Exam results released 13 June 2013

Tuesday Wednesday Thursday 21 May 22 May 23 May

Morning E1 P1 F1

E3 P3 F3

Afternoon E2 P2 F2

G1/M1/A1 T4 part B

Time Table for May Professional Exam

Employer : JCB IndiaPosition : Manager – NPIP &

Cost AccountingLocation : DelhiSector : ManufacturingLink : http://myjobs.cimaglobal.com/job/

476133/manager-npip-and- cost-accounting

APPLY

CIMA Applause! November 2012 (paper based)

CIMA is delighted to announce the names of students who have achieved top ranks in various papers of the November 2012 exams.

Congratulations! You make us proud!

Test for Professional Competence T4 Part B Case Study

Strategic Level Paper

Gateway Assessment

Management Level Paper

Operational Level Paper

Mr Pavan Udayagiri T4 Part B Case Study Examination 35 1

Miss Gayatri Iyer T4 Part B Case Study Examination 33 2

Mrs Aarthy S. E3 Enterprise Strategy 67 1

Miss Radhika Menon E3 Enterprise Strategy 67 1

Mr Rangamani Rahuveer F3 Financial Strategy 76 1

Mr Anish Dangra F3 Financial Strategy 72 2

Mr Shivraj Subbiah F3 Financial Strategy 72 2

Mr Anant Bagri F3 Financial Strategy 72 2

Mr Sohil Poojara F3 Financial Strategy 72 2

Mrs Prasanna Nageswaran P3 Performance Strategy 83 1

Mr Akhil Iyer P3 Performance Strategy 80 2

Miss G Aishwarya A1 Professional Gateway 81 1

Mr Sree Madavan A1 Professional Gateway 78 2

Mr Ramanuj C Kankani G1 Management Accountant Gateway 85 1

Mr Ankur Gupta G1 Management Accountant Gateway 81 2

Mr Shivaraj Math M1 Masters Gateway 72 1

Mr Peush Pillai M1 Masters Gateway 72 1

Mr Sheldon Dsouza E2 Enterprise Management 71 1

Mr Ravi Venkatraman E2 Enterprise Management 64 2

Mrs Ann Dattani F2 Financial Management 76 1

Ms Shriti Sinha F2 Financial Management 68 2

Mrs Renu Gupta P2 Performance Management 71 1

Mr Srijith S P2 Performance Management 66 2

Ms Usha Ganapathy Subramanian E1 Enterprise Operations 83 1

Ms Shriti Sinha E1 Enterprise Operations 74 2

Mr Bamby Arackal F1 Financial Operations 80 1

Miss Sangeetha Krishnamurthy Iyer F1 Financial Operations 79 2

Mr Rajat Karnani P1 Performance Operations 77 1

Mr Mithun Banerjee P1 Performance Operations 76 2

Paper Name Country RankMarksName


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CIMA Applause!


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Name Designatory Letters

Mr Dinesh Jain ACMA, CGMA

Mr Kapil Kshirsagar ACMA, CGMA

Mr Ravi Dhanavada ACMA, CGMA

Ms Divya Sudhakaran ACMA, CGMA

Dr Batani Rao ACMA, CGMA

Prof Asish Bhattacharyya ACMA, CGMA

Mr Shyam Prasad ACMA, CGMA

Mr Yogesh Malik ACMA, CGMA

Mr Akshaya Sahoo ACMA, CGMA

Mr Paresh Sampat ACMA, CGMA

Mr Pravin Kumar ACMA, CGMA

Mr Sridhar Bagalkot ACMA, CGMA

New Members – November- December 2012CIMA congratulates all new members on earning their ACMA, CGMA designation

CIMA in News• Business India featured 'Survival strategies', an article

addressing why a substantial percentage of MSMEs (Micro, Small and Medium Enterprises) fail to sustain their business. The story highlighted how the CIMA qualification & management accountants can change the picture for them.

Arati Porwal Chief Representative, CIMA was quoted in the article saying “For a small business, expanding into a valuable company and sustaining its success is priority. Essential is strong financial acumen, leadership skills and a 360 degree vision. CIMA's qualification gives a global professional qualification by transcending geographical and functional boundaries. You cannot drive a business ahead by just looking in a rear view mirror. CIMA qualified professionals bring forth the mindset,”

Reference: Business India Magazine, Issue dated April 14, 2013.

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The Economic Times featured an article on CIMA president, Gulzari Babber motivating the future business leaders through his invaluable insights. In the article Mr. Babber shared some inspiring personal experiences and a 'stay dedicated and don't let adversities become a barrier in your success' mantra that helps separate leaders from great leaders.

Reference: The Economic Times. 'Exemplars of Success' Special edition on January, 2013

The Free Press Journal, featured the CIMA President, Mr. Gulzari Babber in an article on changes in management accounting in recent times.

India Infoline and Kannada Prabha also published thought invoking interview coverage from the CIMA president.

News of the CIMA Global Business Challenge in India, before the event, was carried in newspapers such as The Hindustan Times, Afternoon Despatch and Courier and websites such as Shiksha, India education diary and Education in India.

cima india march 2013 newsletter

Documents

cima students

cima india

cima myjobs

cima applause

edition of cima university

learning partnerships

undergraduate students

number of students