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Page 1: ACCA's Magazine Oct.2009_1
Page 2: ACCA's Magazine Oct.2009_1

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Page 4: ACCA's Magazine Oct.2009_1

DISPATCH

FEATURES

LEARNING CENTRE

06 GRAPHIC NEWS The safest banks in the world and the top 25 competitive economies08 DISPATCH News round up and jobs news from around the world

28 CAMBRIDGE ICFE – WHAT DO USERS THINK? Students and tuition providers give their verdict32 WATER FOOTPRINTING Water is set to be a pivotal power in all business decisions38 MOULDING MANAGEMENT What are the skills required of a good leader?45 LOOKING UP: CANADA Where are ACCA members in demand?

12 MOVING ON Who’s moved where14 REVIEWS Online and book reviews15 HOW TO Approach an appraisal17 PER Mythbusting19 TALKING TECHNOLOGY Web Enterprise 2.0

22 MEMBER PROFILES24 WHAT’S IT LIKE TO WORK AT DELOITTE, UAE

DOWNLOAD ARTICLE PDFSWherever you see the download icon , click on it to download a PDF file of the article which can be read offline and printed off to help you with your studies

SERVICES DIRECTORY Click here to find out about the services offered by ACCA Approved Learning Partners and subscribers to the ACCA Tuition Provider directory

Welcome to the OCTOBER 2009 issue of STUDENT ACCOUNTANT4 CONTENTS

Page 5: ACCA's Magazine Oct.2009_1

Brendan Murtagh President

Mark Gold Deputy President

Dean WestcottVice President

Helen BrandChief Executive

EDITORIAL TEAMVictoria MorganEditor

Jamie AmblerEditorial Consultant

Jackie DollarArt Editor

Richard GoodingDesigner

Rhian LewisEditorial Executive

WWW.ACCAGLOBAL.COMGlen PattersonOnline Editor

29 Lincoln’s Inn Fields London WC2A 3EE United Kingdomtel: +44 (0)20 7059 5700email: [email protected]

PUBLISHING AND ADVERTISINGAdam WilliamsHead of Publishing

Anthony KayProduction Manager

For all advertising-related matters please contact Lisa Peake:tel: +44 (0)20 7902 1224email: [email protected]

Published by the Certified Accountants Educational Trust in cooperation with ACCA.

The Council of ACCA and the publishers do not guarantee the accuracy of statements made by contributors or advertisers, or accept any responsibility for any statement which they may make in this publication.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without prior written permission of the publishers. © CAET 2009 ISSN 1473-0979

TECHNICAL

RESOURCES

56 TECHNICAL ARTICLESPROJECT MANAGEMENT Paper P3TRANSFER PRICING Papers F5 and P5THE RISKS OF UNCERTAINTY Papers P4 and P5THE TAXATION OF INCOME FROM LEASING TRANSACTIONS Paper P6 (MYS)COST OF CAPITAL, GEARING AND CAPM Papers F9 and P4FOCUS ON PER Performance objective 1057 EXAM SUPPORT All ACCA Qualification papers59 EXAMINABLE DOCUMENTS All ACCA and CAT papers61 NOT-FOR-PROFIT ORGANISATIONS Papers F1, F5, F7, F8, P2, P3 and P5

68 ACCA news74 Essential exam dates and entry information

Please email [email protected] with your feedback on this issue

INTERACTIVEVisit the interactive section to tell us about your job-hunting tips, and be in with a chance of winning an e-pen to take notes in lectures

EXAMS50 Read vital feedback for all ACCA and CAT papers following the June 2009 exam session

Welcome to the OCTOBER 2009 issue of STUDENT ACCOUNTANT

Page 6: ACCA's Magazine Oct.2009_1

6 DISPATCHG

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Source: CLSA Asia-Pacific Markets. CBD – central business district

GERMAN BANK TOPS WORLD’S SAFEST LISTKfW has won first place in Global Finance’s 18th annual table of the world’s 50 safest banks. The highest ranking banks are the ones that kept an iron grip on their risk exposure before the financial crisis. The banks were selected through a comparison of the long-term credit ratings and total assets of the 500 largest banks in the world. Ratings from Moody’s, Standard & Poor’s and Fitch were used.

KFW

GERMANY1

CAISSE DES DÉPÔTS

FRANCE2

BANK NEDERLANDSE GEMEENTEN

NETHERLANDS3

RETENBANK

GERMANY4

ZKB

SWITZERLAND5

WORLD’S 50 SAFESTBANKS

1 KFWGERMANY2 CAISSE DES DÉPÔTS FRANCE3 BANK NEDERLANDSE GEMEENTEN NETHERLANDS4 RENTENBANK GERMANY5 ZÜRCHERKANTONALBANK SWITZERLAND6 RABOBANK GROUP NETHERLANDS7 L-BANKGERMANY8 NRW.BANK GERMANY9 BNP PARIBAS FRANCE10 ROYAL BANKOF CANADA CANADA11 NATIONALAUSTRALIA BANK AUSTRALIA12 COMMONWEALTHBANK OF AUSTRALIA AUSTRALIA13 BANCO SANTANDER SPAIN14 TD BANK CANADA15 ANZ AUSTRALIA16 WESTPAC AUSTRALIA17 ASB BANK NEW ZEALAND18 HSBC UK19 CRÉDIT AGRICOLE FRANCE20 BBVA SPAIN21 NORDEA SWEDEN22 SCOTIABANK CANADA23 HANDELSBANKEN SWEDEN24 DBS SINGAPORE25 BANESTO SPAIN26 CAISSE CENTRALE DESJARDINS CANADA27 POHJOLA FINLAND28 DEUTSCHE BANK GERMANY29 INTESA SANPAOLO ITALY30 “LA CAIXA” SPAIN31 BMO CANADA32 BNY MELLON US33 DNB NOR BANK NORWAY34 CAIXA GERALDE DEPOSITOS PORTUGAL35 UOB SINGAPORE36 OCBC BANK SINGAPORE37 CIBC CANADA38 NBK KUWAIT39 JP MORGAN US40 UBS SWITZERLAND41 SOCIÉTÉ GÉNÉRALE FRANCE42 WELLS FARGO US43 CREDIT SUISSEGROUP SWITZERLAND44 BANQUEFÉDÉRATIVE DU CRÉDIT MUTUEL FRANCE45 CIC FRANCE46 NATIONWIDE UK47 US BANCORP US48 SHIZUOKA BANK JAPAN49 NORTHERN TRUST US50 NATIONAL BANKOF ABU DHABI UAE

OFFICE RENTAL FORECASTS IMPROVE Improved economic conditions have boosted office rentals in Asia, according to a recent Star report. Rental figures are unlikely to fall as drastically as in the first quarter of this year. However, a continued downward adjustment in occupancy costs could mean that doing business in Asian cities becomes more competitive.

COUNTRY TYPE 2009 2010

HONG KONG NON-CBD -20% 10%

HONG KONG CBD -38% 0%

MALAYSIA ALL FLAT FLAT

SINGAPORE ALL -33% -30%

THAILAND ALL -10% -5%

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Find out morewww.accaglobal.com/economy

SWITZERLAND 5.60

2

US 5.59

1

SINGAPORE 5.55

5

SWEDEN 5.51

4

DENMARK 5.46

3

FINLAND 5.43

6

GERMANY 5.37

7

JAPAN 5.37

9

CANADA 5.33

10

NETHERLANDS 5.32

8

HONG KONG 5.22

11

TAIWAN 5.20

17

UK 5.19

12

NORWAY 5.17

15

AUSTRALIA 5.15

18

FRANCE 5.13

16

AUSTRIA 5.13

14

BELGIUM 5.09

19

KOREA 5.00

13

NEW ZEALAND 4.98

24

LUXEMBOURG 4.96

25

QATAR 4.95

26

UAE 4.92

31

MALAYSIA 4.87

21

IRELAND 4.84

22

12

34

56

78

910111213141516171819202122232425

2009

–10

RANKI

NGS

2008

–09

RANK

INGS

COUNTRY SCORE

SWITZERLAND TOPS POLLSwitzerland is the most competitive economy in the world, according to the World Economic Forum’s Global Competitiveness Report 2009–10. It took the top slot from the US, which fell to second place. In third place was Singapore, which did well due to its world-class infrastructure of roads and ports.

7

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01 AUDIT CONVERGENCE EASIERA study published by the European Commission has concluded that global convergence of auditing standards would be less problematic than the convergence of accounting standards. The Maastricht Accounting, Auditing and Information Management Research Center compared International Standards on Auditing and US auditing standards, enabling

the European Commission to improve its understanding of the audits of US companies listed in an EU jurisdiction and to improve the ability of European oversight bodies to conduct inspections.

02 BOND SALE A SUCCESSHong Kong’s first government bond sale in five years has received an overwhelming response from cashed-up institutional investors who, in the current climate, perceive

NEW

S RO

UN

DU

Psovereign bonds to be a safe option. The HK$3.5bn in two-year government bonds were 6.45 times oversubscribed, but the average yield of 0.59% was lower than the market expected.

03 PwC SHOWS MODEST GROWTHPricewaterhouseCoopers’ UK practice has reported a marginal increase in turnover for the year ended June 2009 – up from £2.24bn to £2.25bn. Profit for distribution rose by £3m to £667m. But with an extra 53 partners admitted during the year, profit per partner fell 3% to £777,000. The largest distribution of profit – £3.3m – went to chairman Ian Powell. Operating costs as a percentage of turnover fell from 15.4% to 14.5%. Turnover in the advisory practice rose by 4.8% to £737m; it fell in assurance by 0.5% and in tax by 3.7%.

04 CHINESE CITIES ON ROAD TO RICHESTwenty-five of the most prosperous 100 cities in China are expected to at least double their consumption between 2008 and 2015. A report by McKinsey & Co has found the momentum of economic and social change in China to be so great that the global financial downturn ‘appears to have caused only a temporary dip on an otherwise long and steep road to growth’.

05 CHINA BOURSES PUMPEDCompanies are rushing to list on the Shanghai and Shenzhen exchanges after a long hiatus when IPOs were suspended in China. First on the list was China State Construction Engineering Group, the world’s largest stock offering in 16 months, whose shares soared nearly 60% on its Shanghai debut.

ACRA ISSUES RED CARD TO FIRMSThe Singapore Accounting and Corporate Regulatory Authority (ACRA) has called on accountancy firms to make important improvements in the quality of their auditing to uphold the city state’s reputation as an international financial and business centre. In its Annual Practice Monitoring Programme Public Report 2009, ACRA said auditors needed to exhibit ‘greater rigour in the exercise of professional scepticism in the conduct of audits’. While it found that most audit procedures and work that it reviewed met regulatory expectations, ACRA also identified ‘key performance gaps and systemic threats to audit quality, which the profession needs to address, as individual public accountants and firms, and collectively as a profession’. The review separated auditors of public interest entities (PIEs) and non-public interest entities. The quality of policies, controls and auditing in the reviewed PIE firms were found to be in the ‘most part acceptable’.

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The latest on the global economy www.accaglobal.com/economy

06 BURSA SUQ AL‑SILA’ OPENSTrading has started on Bursa Suq Al-Sila’, the world’s first end-to-end Shariah-compliant international commodity trading platform which will facilitate commodity-based Islamic financing and investment transactions under the Shariah principles of Murabahah, Tawarruq and Musawwamah. The launch commodity is Malaysia’s star product, crude palm oil. Bursa Suq Al-Sila’ has been spearheaded by the Malaysia International Islamic Finance Centre. The trading platform is operated by Bursa Malaysia via its fully Shariah-compliant subsidiary, Bursa Malaysia Islamic Services Sdn Bhd.

07 G20 CALL FOR BANK BUFFERSLarger capital buffers must be held by banks to protect them during adverse periods in the economic cycle, G20 finance ministers and central bank governors have agreed. They also decided that standards are necessary to define high-quality liquidity, with banks putting aside a higher proportion of profits to build capital. G20 leaders agreed that corporate governance reform is necessary, with greater independence for board remuneration committees and reform of compensation packages.

08 IASB‑ASBJ AGREE STANDARDSThe International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) are committed to continuing their work on the convergence of accounting standards. Agreed priorities for early action include the recent IASB exposure draft on financial instruments, financial statement

presentations, post-employment benefits, and measurement of liabilities. An agreed roadmap for convergence permits early adoption of IFRS by Japanese listed companies for fiscal years beginning 1 April 2009. It also proposes mandatory adoption of IFRS from 2015 or 2016.

09 IASC PROPOSES IASB CHANGESStronger governance arrangements for the IASB have been proposed by the trustees of the IASC – the International Accounting Standards Committee Foundation – which oversees the operations of the IASB. Proposals are intended to increase stakeholder engagement with the IASB, representing a range of perspectives in the developed and emerging markets. There is to be more consultation on the IASB’s agenda-setting process, greater liaison with organisations, greater geographical diversification in trustee membership; and a change in name of the IASC Foundation to the IFRS Foundation.

10 SEC REGRETS MADOFFThe US Securities and Exchange Commission (SEC) has admitted it failed in its regulatory responsibilities and should have discovered the Bernard Madoff frauds much sooner. A report from the SEC’s inspector general was strongly critical of his own agency. SEC chairwoman Mary Schapiro said: ‘His report makes clear that the agency missed numerous opportunities to discover the fraud. It is a failure that we continue to regret, and one that has led us to reform in many ways how we regulate markets and protect investors.’

TOBIN OR NOT TOBIN?The UK’s Financial Services Authority (FSA) chairman Lord Turner has suggested the introduction of a ‘Tobin tax’ – a small percentage surcharge on every financial transaction – to reduce the volume of transactions and encourage institutions to focus on activities of economic and social value. The British Bankers’ Association and individual banks opposed the idea, which the UK government also rejected. In the same article in the left-wing Prospect magazine, Turner proposed forcing UK banks to provide ‘living wills’ to enable their orderly closure if they become insolvent. The FSA is moving ahead with their introduction, which the government is expected to back with new legislation. The aim is to ensure that if a bank collapses, it can wind down within 60 days.

TOBIN OR NOT TOBIN:FACTS AND FIGURES

0.005%Possible rate of a Tobin tax £18bn–£35bnAnnual product of a tax at this level

£700,000bnTotal annual value of financial transactions (upper estimate)

Source: The Guardian

STUDENT ACCOUNTANT 10/2009 9

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CITY ACCOUNTANTS FEELING MORE SECUREA poll of over 5,000 accountants in the City of London suggests confidence in job security is returning. The number of people feeling their security would improve increased to 45% over the last quarter. GRS, an executive search firm, said stronger levels of activity were being observed across many front office roles in banks – driving the general sense of security across back-office functions, especially in risk management. Ken Brotherston, CEO of GRS, said, ‘Confidence is spreading as the City continues on its path to recovery. There’s been a lot of talk about green shoots in the economy, but the confidence monitor is one of the few sources able to assess market conditions – and shows us that City workers feel the worst is behind them.’

01 MANAGERS DISMISS STRESS WORRIES The latest employment study by specialist finance recruiters Badenoch & Clark finance reveals a growing stress problem in the UK workplace. A high number (91%) of employees are stressed at work, with 71% workers unable to raise their concerns with management. With the economy still suffering from the global financial crisis, employees’ stress levels are being affected predominately by increased workloads, credit crunch worries and reduced headcount in their company.

Stark differences between how men and women are reacting to the situation were also unveiled; 31% of men are worried that they will lose their job, compared to 26% of women. Men are also more stressed about the general economic outlook – 36% compared with 28%. Neil Wilson, managing director of Badenoch & Clark, said, ‘Stress currently costs British business billions of pounds a year. While some stress is a normal part of work, excessive stress reduces productivity and general wellbeing. Most employers would agree that it makes business sense to avoid excessive stress levels building up in the workplace.’

02 EMPLOYERS WARNED OF ‘MASS EXODUS’ WHEN UPTURN COMES AROUNDA new survey indicates that thousands of UK finance professionals are set to hand in their notices as confidence returns to the job market. According to recruiters Parkside, while many are still concerned about job security, 26% of accountants intend to move as soon as the jobs market picks up and a further 29% are

considering moving. Nearly a third of those surveyed slated the way their employers had treated them during the downturn, while a similar proportion complained of the lack of effective internal communication about how the financial crisis was impacting on the business. ‘Senior management here seem to think that the best way to deal with bad news is just to cover it up,’ said one interviewee, while another said that the response of the board at her company was similar to that of a ‘rabbit in a car headlight’. Parkside’s managing director, Jennie Emerson, said, ‘It looks as if employee perception of how companies managed their way through the period of downturn could mean a mass exodus of people as soon as things start to pick up.’

03 JOB MARKETS IMPROVING AROUND THE WORLDA global survey of hiring and firing trends in 34 countries reveals that job prospects for professionals are improving for the first time since the autumn of 2008. International recruitment firm, Antal, asked over 7,000 companies if they were currently hiring at professional and managerial level, as well as whether they planned to do so in the coming quarter and if they were letting staff go (or planning to do so) in the next three months. Highest current hiring levels were in China (74%), Russia (62%), the Czech Republic (60%), the US (55%), France (54%), Poland (53%), Bulgaria (54%), India (51%), the UK (50%), Belgium (50%) and Germany (46%). Lowest JO

BS N

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Page 11: ACCA's Magazine Oct.2009_1

levels were in Switzerland (35%), reflecting the economy’s reliance on the financial sector, as well as Hungary (26%). ‘We would be very brave, or possibly very foolhardy, to assert that the economic crisis that has assailed the world is over,’ says Antal’s CEO, Tony Goodwin. ‘But there is little doubt that these results give cause for some optimism. The hiring and firing of staff is one of the most effective measures of business confidence and there is no denying that, with a few exceptions, the jobs market for professionals and managers is improving all around the world.’

04 COST REDUCTIONS MEAN MORE JOBS FOR MANAGEMENT ACCOUNTANTSThe round of cost-cutting measures being embarked on by organisations in the financial services sector have impacted positively on demand for finance professionals with management accounting skills. Recruiter Badenoch & Clark said it had observed an upturn in demand: ‘As investment banks focus heavily on reducing costs, a number have brought in management accountants to help,’ says Guy Emmerson, associate director. ‘It’s those with experience of costing large IT projects in a banking environment who are the most in demand.’

05 EXCITING TIMES IN CHINARecruiter Hays Accountancy & Finance says the Chinese jobs market is starting to bounce back from the rollercoaster ride of the past year. ‘China has undergone immense economic and social development over the past 25 years and is one of the world’s largest and fastest-growing economies,’

said Emma Charnock, regional director for Hays in China and Hong Kong. ‘The market still has battles to face and it will take time for improved sentiment to translate into improved vacancy activity. Employers are, however, beginning to look more positively towards recruitment activity and it is therefore important to prepare ourselves for the imminent upturn.’ The company is seeking additional consultants for its recruitment team in anticipation of demand for staff, even looking further than the local market to attract Mandarin speakers living in Australia, Singapore and Hong Kong wishing to return home to mainland China. Meanwhile, in Hong Kong, while Hays suggests the economy is seeing signs of stabilisation, it says the employment market still has battles to face. ‘It takes time for improved sentiment to translate into improved vacancy activity,’ said Charnock. ‘But a slightly more optimistic attitude to general market conditions and the gradual return of stability

RESURGENCE OF CONFIDENCE IN SINGAPORE Specialist recruiter Hudson says accountancy jobseekers can look forward to a more prosperous quarter, after its survey of employers discovered that hiring expectations in Singapore are ‘significantly higher’, and in fact are improving for the first time for over two years. Gina McLellan, the agency’s country manager, said, ‘Employers are increasingly optimistic about business prospects.’ Nearly four out of five respondents predicted Asia’s economy to start recovering by the end of next year.

means employers are looking more positively towards recruitment activity in the next year. They are again thinking about future growth plans; it seems vacancy activity in 2010 will be higher than we’ve seen this year.’

06 GHANAIAN ACCOUNTANTS PRESSED TO ‘LIVE ABOVE REPROACH’A government minister in Ghana has emphasised the need for taxpayers to have confidence in auditors, accountants and financial managers working in the country’s public sector. ‘Our public financial management processes should make it possible for the rest of our population to have faith that things are being handled for the common good, and not for personal gain,’ said Paul Evans Aidoo, western regional minister, warning of the dangers associated with the ‘ills’ in public sector financial management.

FACTS AND FIGURES

65% Employers in Singapore forecast increased hiring in the next quarter

19% Banking and financial services firms in Singapore plan to grow headcount

Realise your career ambitions at ACCA Careerswww.accaglobal.com/careers/

11STUDENT ACCOUNTANT 10/2009 11

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12 LEARNING CENTRE

In the UK, ACCA student Joseph Anyaike has been appointed as financial team leader at Newport City Council. In

his new role, he will manage the income and expenditure of the leisure and learning centre, monitor budget and grant expenditures, organise and implement financial transaction processes, liaise with budget holders, and manage the finance team with a focus on achieving overall objectives. Previously, Joseph was an accounts assistant at Utility Partnership Ltd in Cardiff.

In Zambia ACCA student Larry Kafuti joins Care International as a programme support assistant – finance. Based in Kasama, Northern Province, Larry will ensure that all financial accounting transactions relating to the Moyo wa Bana Capacity Building Initiative are properly prepared and accurately coded in the financial accounting systems to enable accurate and timely preparation of cash books and bank reconciliation statements. He will also implement internal M

OVIN

G O

N controls in relation to CARE Financial policies and provide finance advice to the project. Previously, he was an accounting officer at the Ministry of Health, Mansa General Hospital, Luapula Province.

In Bangladesh, ACCA student Abu Noyem Md Khasru has become head of finance at Bank Alfalah Ltd in Dhaka. His overall

responsibilities include preparing and checking income expenses, trial balances, cash flow and balance sheet as per IAS, IFRS and

local regulations, preparing budgets, calculation of month end provisions, ensuring that reconciliation of Nostro Accounts are done on a daily basis, assisting with internal and external audits and inspections, ensuring payment of VAT/WHT, and arranging appropriate training for finance staff. Prior to this, he was a finance and accounts manager at Commercial Bank of Ceylon plc in Dhaka.

In Pakistan, ACCA student Muhammad Banaris has been appointed as an auditor at

BKR – Munif Zia Ud Din & Co Chartered Accountants. Based in Islamabad, Muhammad will be responsible for auditing the company’s clients. Prior to this, he was a finance manager at Fatima Group, also in Islamabad. In Lahore, ACCA student Muhammad Ahmar Asghar has become an assistant manager of accounts at Furniture Pakistan. In this new role, he will manage the preparation of annual and interim budgets, prepare monthly reports, final accounts, and statements of deduction of tax. He will also be in charge of maintaining the cash management system for the placement of funds in banks, and coordinate external audits. Previously, he was a finance programme officer at the Punjab Rural Support Programme, Lahore. In Karachi, ACCA student Abdul Qadir has become an audit trainee at M Yousuf Adil Saleem & Co, Deloitte Touche Tohmatsu. His duties include verifying and approving expenses, verifying purchase transactions, and internal controls of the HR department. In his previous role, Abdul was an accountant at Tahir Medical Center in Karachi.

Student Accountant would like to hear from you if you have recently changed jobs or been promoted. Go to www.accaglobal.com/changingjobsand tell us aboutyour move.

Page 13: ACCA's Magazine Oct.2009_1

In Nigeria, ACCA student Oluseun Ibilola has become a finance officer at Leasing Company Nigeria Ltd in Lagos. In his new role, he will be responsible for the maintenance of lease rental debtors and staff debtors ledgers, conducting monthly bank reconciliations, recording incoming cheques, preparing payment and petty cash vouchers, and many other ad hoc assignments. In his previous role, Oluseun was an account officer at Cibilog Ltd in Lagos. Also in Lagos, ACCA student Abimbola Odesanya has been appointed as a loan monitoring officer at Oceanic Bank plc where she will be in charge of monitoring the bank’s risk asset portfolio. Previously Abimbola was a credit administration officer at Spring Bank plc in Lagos.

In Uganda, ACCA student Alfred Ndolo Musau joins Protea Hotel Kampala as a night auditor where he will be responsible for revenue audits. Previously he was a night auditor at Alliance Hotels and Resorts in Mombasa, Kenya.

In Kuwait, ACCA student Khadija Shoukat has become

an internal auditor at Albazie & Co in Maliya. In her new role, Khadija will perform audits for various clients, prepare reports, and carry out risk assessments and various other audit-related projects. Previously, she was a documentation assistant at Wajda International in Dhajeej.

In Yemen, ACCA student Muhammad Saleem Ahmed has been appointed as finance manager at Islamic Relief, Yemen Office in Sana’a. His

duties include reviewing and analysing expenditure versus budget reviews, monitoring and reporting on all grant income flows, preparing HQ reports for reviewing and updating (and quarterly/monthly reporting etc), reviewing all financial reports and proposals for programme funding to donors, preparing budgets, managing contracts, liaising with auditors, controlling and signing bank reconciliations, maintaining cash forecasts, preparing financial plans, preparing accounts for audits, and supervising the finance and

Changing jobs?www.accaglobal.com/changingjobs

accounting staff. Prior to this, Muhammad was a financial executive at Al-Tawila Trading in Sana’a.

In Saudi Arabia, affiliate Syed Kazim Ali Naqvi joins KPMG as a trainee auditor. Based in Jeddah, he will be working in the audit department to gain experience for a future senior position.

In Botswana, CAT student Raymond Thapelo has become an administrator at Alexander Forbes in Gaborone. He will be responsible for administering pension medium welfare funds for government employees. Prior to this, Raymond was a soldier with the Botswana Defence Force.

YOU NEVER SIT STILL As dynamic finance professionals, we know you are always on the move. Whether you have changed your role, organisation, home address or even country – don’t forget to tell us. Last year over 100,000 students and members continued to receive targeted, up-to-date services and information from ACCA by changing their details. Should you? Login to myACCA atwww.accaglobal.com to review and update your details.

As dynamic finance professionals, we know

13STUDENT ACCOUNTANT 10/2009 13

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your suitability, family issues, employer perspectives and how to actually find work abroad. The next section covers all aspects of personal finance including taxation, investments, and pensions.

Part 3 returns to family issues, with in depth analysis of how emigration affects partners and children. That takes the reader to the point of making the move and the next section tackles all the practicalities, from furniture and pets to keeping your vote.

The final chapter in this section is about doing it all in reverse – coming home again. Part 5 is a listing of useful websites and the last section contains country profiles.

There are just 10 in the book but this is complemented by a more comprehensive offering on the publisher’s website. Details of this password-protected resource are at the end of the contents page.

Profiles cover each country’s economy, taxation laws, and working conditions as well as providing an overview of health and education.

Aimed at British workers, it’s all very readable and while strong on providing a reality check, is not discouraging. Anyone making a move after working through this book can feel reassured that they’ve made an informed choice and are well enough prepared to make a success of it.

Irene Krechowiecka is a careers coach and journalist

¤ Working Abroad, Jonathan Reuvid, ISBN 9780749456481RE

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In an intensely competitive market, the standards of free web browsing software applications have been soaring.

Dolphin 3D (www.dolphin3d.com) has many student-friendly features; it’s built with 3D ‘layers’, allowing you to switch between layers of tabbed pages, all in the same window. It also offers a ‘bibliography builder’ (to track sources – how often do you print a page and forget where it came from?), as well as an integrated dictionary and thesaurus.

Firefox (www.mozilla.com/firefox) has an amazing capacity for extensions (add-ons). So while it appears simplistic, that’s actually the point: you install it, then choose from thousands of new features (such as bookmarks or customised toolbars), or modify the existing ones – you can get as techie as you like.

Chrome (www.google.com/chrome) is Google’s foray into Microsoft territory. Integration with your computer allows you to search your desktop in the same way that you would the internet. The navigation buttons might look a bit odd at first. But it’s super-fast on most operating systems, and you can customise the theme of your home page, including thumbnails of all your recently visited sites – handy.

ONLINEWEBBROWSERS

If you’re working in the UK, but tempted to look for work abroad, the 30th edition of Working Abroad is essential reading. Impressively up-to-date, it takes into account the implications of the current global recession, relevant recent legislation and political realities.

Detailed and balanced information on all the complexities is provided in a thoughtful and readable way; from making the initial decision about whether working abroad would suit you, to dealing with reverse culture shock if you choose to eventually return home.

The book is divided into six sections, all clearly laid out and well signposted. The first section deals with assessing

BOOKWORKING ABROAD BY JONATHAN REUVID

14 LEARNING CENTRE

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APPROACH AN APPRAISALWITH EMPLOYERS KEEN TO GET THE MOST FROM EXISTING HEADCOUNT, DEMONSTRATING HOW YOU ADD VALUE IN A PERFORMANCE APPRAISAL IS MORE CRUCIAL THAN EVER.

List your tangible achievements and why you’re proud of them – thinking, of course, of how they’ve benefited your employer, not just your own job satisfaction.

Look aheadAppraisals are also about looking forward. It may well be that your manager will use the appraisal to set you some new goals for the coming six months or year – it does no harm for you to make some suggestions yourself, considering the skills you’d like to develop and how these will make you a more valuable commodity in the office. What support will you need to achieve these? Can you think of cost-effective ways to build these skills – such as coaching, shadowing or a secondment?

Given the current economic conditions, it may be your manager will be grateful that you don’t march into the appraisal with a list of expensive or unnecessary training courses – which could make you look unworldly or extravagant.

However, should it be the case that you’ve identified a genuine training gap that can’t be plugged internally, don’t feel you can’t raise the issue – but be carefully to calculate the exact cost, and establish how your employer will ultimately benefit.

your performance. Think carefully about any specific goals or targets that you may have been set at your last appraisal – have you accomplished these? If not, why not? Is there still time for you to complete any of them prior to your appraisal – but without giving the impression of a last-minute dash to the finishing line?

Consider what you have learned since your last appraisal, particularly with regard to your personal and professional career goals. What new skills or knowledge have you acquired that makes you a more valued contributor to the team? How

much of that learning was down to your own efforts?

In what ways might your manager have helped

you advance your learning? Also take

into account aspects of your ACCA studies that you were able to put into practice in the workplace – especially if your employer is funding your

studies or has been generous with study and

exam leave. TH

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L?that makes you a more valued contributor to the team? How

much of that learning was down to your own efforts?

In what ways might your manager have helped

you advance your learning? Also take

into account aspects of your ACCA studies that you were able to put into practice in the workplace – especially if your employer is funding your

studies or has been generous with study and

exam leave.

If you have an appraisal coming up, don’t leave anything to chance – even if your employer doesn’t have a formal appraisal process and a proforma to complete beforehand, behave as if this were the case anyway – you’ll then have a better idea of how to get your message across, as well as the issues your manager may well bring up.

First, consider the period of time since your last appraisal. Write down what went well and why, and what didn’t go well and why. This will help you start to get some perspective on the strengths and weaknesses of

15STUDENT ACCOUNTANT 10/2009 15

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Problems at work? email [email protected]

MY MANAGER STARTED WORK LESS THAN A YEAR BEFORE ME – AND HAPPENED TO BE IN THE RIGHT PLACE AT THE RIGHT TIME WHEN HE WAS PROMOTED. YET IT’S PLAIN TO EVERYONE THAT I HAVE ALREADY OVERTAKEN HIM. I FEEL HELD BACK IN MY CAREER. SHOULD I APPEAL OVER HIS HEAD?

IN THE CLOUD

You’re probably cloud-computing yourself already without realising; sites like Facebook or Hotmail store all your data and settings on the net. However, the concept is really taking hold in business; Googledocs, for instance, lets you run applications without installing programs on your machine.

Sceptics question security – but a growing body of thought sees cloud computing as the future (Microsoft recently introduced ‘cloud’ versions of Office). Benefits include reduced cost, generous scalability, increased agility and accessibility by all. Even better, many developers now make prototypes available in the cloud, for us all to play

around with in real time and provide feedback.

ADVANTAGE CLOUDS

‘Cloud computing’ is the term used to describe accessing and running software applications over the internet using a web browser.

Instead of running programs from your computer’s hard drive, the application, and the data you use, are securely stored ‘in the cloud’, ie in cyberspace.

3 THINGS YOUSHOULD KNOW ABOUTCLOUD COMPUTING

BETTER THAN THE BOSS

This situation requires delicate handling. But first, be absolutely certain that you are better at the job than your manager. Who says? What feedback have you had from people at your manager’s level, or more senior? If it’s simply the case that your peers (or admiring juniors) have made comments along those lines, it’s important to be realistic.

People are less blinkered about the reality of who pulls their weight in the office than many of us realise. The chances are, if your boss is less able than you, the powers-that-be will be aware, to a degree. Your mission isn’t to discredit him but rather to press on, discharging your own responsibilities diligently and expertly. Find ways in which you can ‘shine’ as visibly as possible – for instance, copying key people in on emails demonstrating you’ve, say, exceeded a performance target, delivered a superbly executed project ahead of deadline, or identified significant cost or efficiency savings.

Similarly, look for opportunities to interact on a one-to-one basis with other managers or directors – being careful not to undermine your boss, verbally or otherwise (people admire ability, not cunning). Volunteer to represent your team at meetings where you know senior people will be present – but don’t just attend for appearance’s sake; ensure you make a worthwhile contribution. Stick to what you know best, and avoid ‘politicking’ – rewards should come your way.

PRO

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CLEAR, NOT CLOUDY

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BETTER THAN THE BOSS

We’ve put together responses to some of the most common misconceptions held by students who talk to ACCA Connect. As you prepare to complete your annual return, these will inform and perhaps even surprise you…

‘All I need to do to achieve a performance objective is to tick the right box’ You must demonstrate your competence with each performance objective by answering a series of three challenge questions – to which there is no prescribed right or wrong answer (it depends entirely on your individual experience). These must be reviewed and, if satisfactory, signed off by your workplace mentor before counting towards your PER. It is your workplace mentor who decides when you have achieved the performance objective – not you.

‘I have to complete all my performance objectives by the annual return deadline’The annual return is not a deadline by which you must complete your PER, but it helps you (and ACCA) track the relevant experience you gain as you progress towards membership. So even if you’ve only achieved one performance objective (or haven’t achieved any) by the deadline, you’re still required to complete the return.

‘Completing the annual return is all I need to do to complete my PER’ Be careful to recognise the distinction between completing

your performance objectives and completing the annual return. The annual return allows you to confirm to ACCA the time you’ve spent in a relevant role since your previous return and sign a declaration agreeing your commitment to your development and to ACCA’s Code of Ethics. Performance objectives are goals which are set for you by ACCA to demonstrate achievement in the workplace. The annual return is an essential component – but only one of four components that make up your PER.

‘I don’t need to prove experience – once I’ve passed all my exams, I’m an ACCA member’Exams are only half the story. By completing your PER, you demonstrate you’ve applied the knowledge gained through your studies in the workplace – exercising your judgment and identifying areas for future improvement, all key factors in your development as a rounded professional. Don’t forget, you’ll need to complete the Professional Ethics module too. Exams, experience and ethics are all needed to attain ACCA membership and use the letters after your name.

‘I can only use permanent jobs to count towards my 36 months of work experience’ If your job includes only a small amount of accountancy and finance work, it can count, as long as you pro rata the time spent on these activities. Also, the experience gained doesn’t have to be in a single role or in one continuous period – experience can be gained in part-time roles, secondments, job rotations, project work or undertaking new responsibilities.

‘Whoever I am working for can sign off my performance objectives – even if I achieved them in a previous job’Whoever is your workplace mentor at the time you undertake the work must sign off the performance objective you are claiming for. So you may well have more than one mentor signing off as you progress towards completion – for instance, if you’re promoted, switch teams or change employer, or if you’re temping.

‘I don’t need to do my PER or annual return until I finish all my exams’Not only must you complete your annual return each year while studying, it actually makes sense to plan your PER as early as possible. Employers value the ACCA Qualification exams – but without relevant practical experience, you’ll be at a disadvantage compared with those who have already done so. If you’re working while studying, start identifying or asking for opportunities to achieve your performance objectives right away.N

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PER: MYTHBUSTING

‘I can only use permanent jobs to ‘I can only use permanent jobs to count towards my 36 months of work experience’ work experience’ If your job includes only a small If your job includes only a small amount of accountancy and amount of accountancy and finance work, it can count, as long as you pro rata the time long as you pro rata the time long as you pro rata the time spent on these activities. Also, spent on these activities. Also, the experience gained doesn’t have to be in a single role or have to be in a single role or

PER SUPPORTACCA has producedan extensive range of

supporting documents and resources, all available online for

you to read or download:www.accaglobal.com/

students/acca/per/

MEETING YOUR PRACTICAL EXPERIENCE REQUIREMENT (PER) SHOULD BE STRAIGHTFORWARD – SO DON’T LET FALSE BELIEFS GET IN YOUR WAY.

‘I don’t need to do my PER or annual return until I finish all my exams’return until I finish all my exams’

‘I can only use permanent jobs to ‘I can only use permanent jobs to count towards my 36 months of

‘I don’t need to prove experience – once I’ve passed all my exams, I’m once I’ve passed all my exams, I’m

‘I have to complete all my ‘I have to complete all my performance objectives by the

‘All I need to do to achieve a performance objective is to tick the

‘Completing the annual return is all I need to do to complete my PER’I need to do to complete my PER’

17STUDENT ACCOUNTANT 10/2009 17

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JUSTIFY THE COST OF SPONSORING YOUR ACCA STUDIES

WORK–STUDY BALANCETOP 10: MAKING A COMMITMENT

4 Show your commitment – work–life balance is important, but think carefully about your initial few weeks of working life and professional studies; it might be an idea to defer any plans for holidays or extended time off (other than the odd day) while you get to grips with the routines and until you have a better understanding of how your studies and exams will fit into the context of office life.

5 Learn to be a good time manager – time management is a skill you can learn; even better, you can teach yourself; part of the personal responsibility your employer will require is getting yourself to ACCA classes on time, completing coursework when your tutor expects – and still getting into work in the morning. There are websites aplenty that can help (in fact, see the online review in the August 2009 issue of Student Accountant).

6 Turn your experience to your advantage – seek out opportunities to apply what you learn in the syllabus at work; this might mean asking for secondments, rotations, work-shadowing or coaching; but will be good practice for when you come to complete your PER – and will be another demonstration of your commitment (vital if you need that extra afternoon off for revision or if you’re in a pay review).

7 Give advance warning of exams – remember, while the exams are all-important to you, they may not be top priority for those you work alongside; ensure relevant people know in plenty of time when you’re going to be off revising (or, just as crucial, when you might be a bit stressed).

8 Your employer is on your side – remember, it’s in your firm’s interests for you to pass your exams as swiftly as possible; the chances are your boss and more senior colleagues have been through professional accountancy exams themselves; what you might find daunting about work and study is unlikely to be unique to you; lean on them for their experience.

9 Opportunity cost – your firm may be paying for your course fees, exam fee and study materials – but also consider the cost of you not being in the office because you’ve sloped off to college, or because you’ve been given time off for revision. Unless your employer hires a temp, it’s your colleagues who will shoulder the burden in your absence. Be appreciative.

10 Ask for feedback – your boss or supervisor should have a good idea of how you’re coping with balancing your work and study commitments; ensure open dialogue by checking in every now and then on whether you’re pulling your weight, or need more support.G

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If you’re lucky enough to have an employer sponsoring you through your ACCA studies, that’s a major financial and logistical commitment. With training budgets being slashed and managers having to justify every penny of expenditure, it’s important to bear a few factors in mind:1 It’s still down to you – even

big blue chip employers with well-resourced HR and training teams will place ultimate responsibility for passing exams firmly at the foot of each individual trainee personally.

2 Seek a mentor – you’ll need a workplace mentor to complete your practical experience requirement (PER) and acquire your ACCA membership, but there’s no reason you can’t try now to identify a relevant individual (ideally another professional accountant) to bounce ideas off.

3 Don’t be afraid to ask – it’s one thing to work things out for yourself – but not at the expense of wasting time or resources when a quick question to a colleague could illuminate a syllabus area that’s got you stumped.

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The internet is in a constant state of evolution (some might say, revolution), and over the past couple of years this has fundamentally changed the way we use it. Whether we call this trend by its ‘official’ term of reference Web 2.0 (read the Student Accountant article from February 2008), or just take advantage of what it has to offer, we are all being affected – to varying degrees.

The interactivity of the internet and the power of social networking tools are now an integral part of the way we live and work, and the source of ever-more interesting and exciting possibilities. ACCA tweets at twitter.com/accanews, Student Engage offers you the chance to communucate directly with ACCA via web broadcasts at www.accaglobal.com/studentengage, and ACCA students share their experiences at http://blogs.accaglobal.com/

But these offer just a glimpse of what is possible. Outside ACCA, there is a new wave of Web 2.0 developments so large it might be better called a Tsunami.

Employers, recruiters, tuition providers, and myriad other organisations, are using the blogs, self-service software, social networking sites, and wikis, that characterise Web 2.0, to improve communications and collaboration, share ideas and information, build online communities, organise events,

manage projects, and develop online tools and services.

Web 2.0 has spawned Enterprise 2.0. Knowing that this is the term of reference used to describe the business use of social software and other Web 2.0 technologies is useful for student accountants, but appreciating the sigfnificance of this is even

more valuable. Because it is hard to overestimate the importance of Enterprise 2.0, as far as information technology (IT) is concerned: it’s epoch-defining, and almost as significant as the creation of the internet itself.

During the relatively brief history of the IT industry, the most significant developments and tools have traditionally started life as industrial or military applications, and then filtered down from professional

use to personal use. But with the technologies that typify Web 2.0, the opposite occurred, and the tools and trends you first became familiar with in your personal life are increasingly finding favour in the world of business.

Starbucks is tweeting to customers; Dresdner Kleinwort Wasserstein is using wikis to help build its self-service human resources system; Deloitte Digital (part of Deloitte Touche Tohmatsu in Australia) has held employee performance

reviews in World of Warcraft; Volkswagen has used Flickr for brand development; BDO Stoy Hayward is using the virtual world Second Life as a venue for meetings, presentations and events for staff, clients and alumni.

All of which is changing the way organisations access,

use, and deliver software and services, and the ways in which they collaborate and communicate internally and externally – and this creates challenges and opportunities for student accountants.

On the downside, you need to think about the potential career and security implications of all of your online activities (www.accaglobal.com/students/student_accountant/archive/2008/84/3076073); on the upside, using Web 2.0 technologies is second nature to you, which gives you an edge over less tech-savvy members of the finance profession. IT

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TALKING TECHNOLOGY2.0

and services, and the ways in which they collaborate and communicate internally and

resources system; Deloitte Digital (part of Deloitte Touche Tohmatsu in Australia) has

WORK–STUDY BALANCETOP 10: MAKING A COMMITMENT FROM WEB 2.0 TO ENTERPRISE

STUDENT ACCOUNTANT 10/2009 19

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Corporate governance is the means by which a company is directed, administered and controlled, and a well-governed company is accountable and transparent to its shareholders and other stakeholders. Good corporate governance creates value, and provides accountability and control systems commensurate with the risks involved; it is key to improving organisational performance and sustainability, as well as enhancing stakeholder confidence.

To embed sustainable development within corporate governance, companies need to identify and understand their environmental and social impacts and act accordingly. Governance must then draw on both financial, social and environmental accounting, reporting, and audit in order to understand the full scope of company activities and performance, and to establish an integrated approach to sustainability.

Corporate governance and the current fi nancial crisisThe 2008/09 financial crisis can partly be attributed to failures by corporate governance to protect against excessive risk taking and irresponsible behaviour, thereby fundamentally recasting the relationship between the state and

STUDENT ACCOUNTANT PROVIDES A SUMMARY OF SUSTAINABILITY BRIEFING PAPER 4: CORPORATE GOVERNANCE, ISSUED IN JULY 2009. READ THIS, AND EARLIER PAPERS, IN FULL ON THE ACCA WEBSITE AT WWW.ACCAGLOBAL.COM/UK/MEMBERS/PUBLICATIONS/GBS/

financial institutions. Dysfunctional boards did not fully understand the risks associated with their strategies; implementation, accounting, reporting, and audit was inadequately monitored; and there was a significant lack of experienced and qualified non-executive directors. Powerful shareholders and the investor community failed to engage actively or push hard enough for meaningful reform. Remuneration and bonus systems rewarded short-term thinking and unsustainable risk taking, undermining longer-term sustainability. It is now clear that corporate governance models need changing.

Corporate governance and sustainabilityAs a result of the financial crisis, companies are under significant scrutiny from activists, employees, and investors who want to see them behaving in a sustainable manner, and taking into account social, environmental and ethical issues. Sustainability issues must be embedded into governance systems, but they often fit badly into governance frameworks which focus on financial indicators and control. Integration requires a realignment of strategic direction with environmental and social goals, while ensuring governance oversight mechanisms maintain

SUSTAINABILITY BRIEFING PAPER 4CORPORATE GOVERNANCE

focus. As a result, ‘softer’ governance issues – related to values and principles, rather than legal, financial, or management issues – are gradually reshaping corporate governance models.

The role of boardsBoards now need to embrace sustainable development by involving a wider stakeholder group, and by selecting non-executive directors with sustainability related expertise who can advise, monitor and challenge effectively. Expert advisory panels can bridge the gap between wider stakeholder engagement and governance, helping companies respond to emerging social and environmental issues in ways that are strategically aligned to business models. Crucially, these panels must be credibly integrated into traditional governance structures.

Remuneration and incentivesRemuneration and incentives can benefit from a sustainability perspective, which emphasises the importance of longer-term thinking. A trend for long-term incentive planning is already emerging, with executive bonuses increasingly dependent on non-financial performance metrics such as customer satisfaction or employee engagement.G

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reputational aspects, and by presenting financial statements in these contexts. Accountants are also involved in governance mechanisms such as nomination and remuneration committees and, in particular, in audit committees. They thereby face increasing expectations from groups including shareholder and governance activists, regulators, the media, and fellow board members.

Accountants ‘decode’ regulation for a company and support internal integration and adherence. Using their regulatory knowledge and experience of industry standards,

they can drive through best practice. Accountants can use the standards and procedures of their profession to highlight concerns, and to provide an independent challenge to any practices which they consider are not in the interest of long-term sustainability.

Combining this thorough approach to preparing financial statements with a wider review of governance, accountants can provide a truer and more robust commentary on the performance of a company, and on its potential wider social, environmental and ethical impacts.

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The role of investorsAs institutional investors and fund managers have a responsibility to generate long-term value, they should insist that the governance of any company they invest in shares this objective. Shareholders should also consider governance when making investment decisions.

The role of accountantsAccountants are crucial to effective governance. They provide transparency in reporting to stakeholders by maintaining an awareness of a company’s general management, risk management, operational and

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S.’ Much-travelled ACCA member

Nicholas Lim has an impressive array of qualifications on his CV: a BA (Hons) degree in accounting and finance from London’s Middlesex University; a Master of Professional Studies from the University of Southern Queensland in Australia; and certificates from Harvard Business School Publishing in Management and Leadership Essentials. Nicholas is also a member of the Securities & Investment Institute (in the UK) and the National Institute of Accountants in Australia, and a Chartered Accountant the Malaysian Institute of Accountants.

Nicholas’ professional career – focused on financial services – has seen him move from Kuala Lumpur to New Zealand, to London, and then back to Malaysia. Nicholas has worked for Deloitte (Malaysia and New Zealand) and Ernst & Young LLP (UK), and is now a senior manager within the Deloitte & Touche Global Financial Services Industry group, based in Kuala Lumpur.

At this stage in his career, Nicholas’ extensive technical skills match his considerable

international experience. ‘I am exposed to

all aspects of assurance and financial advisory

services, including financial modelling,’

he comments. ‘I manage a portfolio of organisations, including companies listed in a number of different stock exchanges, and can prepare and analyse financial statements.’

Underpinning all this experience is Nicholas’ ACCA Qualification: ‘I chose ACCA because of its international portability and flexibility,’ he says, ‘especially the fact that students can sit their exams almost anywhere in the world. I have moved many times during my career, and this international mobility has been greatly enhanced by the fact that I am ACCA qualified.’

And ACCA membership has brought further benefits: ‘Qualified accountants are key players in the world of business,’ he comments. ‘They offer high levels of skill and knowledge, as well as initiative and a flair for problem solving. ACCA is one of the most prestigious professional qualifications in the world, and it has opened up a wide range of career opportunities for me, both globally and locally. My aim, in terms of career progression, is first to be admitted to partnership and then to continue to raise my profile in the financial services arena.’

Given that Nicholas has risen so far, what advice does he have for current ACCA students? ‘I would encourage students to get professionally qualified as soon as possible,’ he says. ‘ACCA is definitely a qualification that can open doors for career advancement and can lead to unlimited opportunities.’

NAMENICHOLAS LIM

JOB TITLESENIOR MANAGER, GLOBAL FINANCIAL SERVICES INDUSTRY

EMPLOYERDELOITTE & TOUCHE, KUALA LUMPUR, MALAYSIA

MEMBER IN 60 SECONDSNICHOLAS LIM

22 LEARNING CENTRE

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The life and career of ACCA member Aminata June Adam-Samura shows how, with an ACCA Qualification, you can travel the world and develop a flourishing career. Her inspirational commitment to help some of the world’s most disadvantaged communities, also demonstrates the value that accountants can bring to all sections of society.

Born and educated in Sierra Leone, and the UK, Aminata is now based in North Carolina, US, where she is a senior financial analyst with international pharmaceutical giant GlaxoSmithKline plc (GSK). Aminata still has strong ties with Sierra Leone – not only do her parents and many relatives live there, but through Boundless Hope, the registered 501C charitable organisation she founded, she brings healthcare and educational resources directly to the people who need it.

Aminata took her AAT exams in Sierra Leone before travelling to the UK, at the age of 20, to continue her education. ‘While

in the UK, I studied for my ACCA exams and pursued a degree in accounting at the University of Lincoln.

‘I took one or two ACCA papers at a time, as the exams were tough and needed both technical and strategic knowledge. Three years after I left Sierra Leone I had finished all my ACCA exams, and completed my degree.’

‘My ACCA Qualification was one of the best investments I have ever made. Just after becoming a member, and gaining my degree, I secured a job as an auditor in an accounting and auditing firm in London, where I was in charge of various audit projects for companies and for not-for-profit organisations. My ACCA Qualification definitely gave my career a competitive edge,’ she says.

In 2000, Aminata decided to move to the US to join family members. ‘It is a country that offers unlimited opportunities to young professionals,’ she says.

While developing her career at GSK, Aminata began the process of founding the Boundless Hope charity. In December 2007, Aminata’s dream became a reality when she transported school supplies, bought with her own money and packed into school bags donated by GSK, to over 700 of the poorest children in the most deprived communities in Sierra Leone.

Since then, she has helped a further 3,000 children by providing the basic essentials needed to make the most of the educational opportunities on

offer, and to improve their dental health, again with sponsorship from GSK.

As well as her personal drive, Aminata acknowledges the contribution her accounting skills and financial understanding have made to the realisation of her dream. ‘Accountants are well placed to understand an aspiration for growth and sustainability because they are often concerned with maintaining and improving the financial health of an organisation in order to satisfy the various stakeholders,’ she says.

‘However, accountants also have a big responsibility to contribute towards socioeconomic development; the participation of accountants in charitable and humanitarian activities encourages the trust of major donors, helps generate sustainable growth, and builds confidence in an economy, especially if accountants fulfil their duty as financial gatekeepers.’

At only 33, Aminata has achieved so much, and not without significant personal sacrifice.

And there is still much that Aminata wants to do: ‘I want to leverage my finance, accounting, strategic business, auditing, negotiation, and project management knowledge to work with organisations in creating sustainability in underdeveloped nations,’ she says.

For further information please contact Boundless Hope Organisation: www.boundlesshope.org

The life and career of ACCA

in the UK, I studied for my ACCA exams and pursued a degree in accounting at the University of Lincoln.

papers at a time, as the exams were tough and needed both technical and strategic knowledge. Three years after I left Sierra Leone I had finished all my ACCA exams, and completed my degree.’

one of the best investments I have ever made. Just after becoming a member, and gaining

GIVING SOMETHING BACKAMINATA JUNE ADAM-SAMURA

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The life and career of ACCA The life and career of ACCA

contact Boundless Hope Organisation: boundlesshope.org

STUDENT ACCOUNTANT 10/2009 23

Page 24: ACCA's Magazine Oct.2009_1

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With a presence in the United Arab Emirates (UAE) since 1964, and in the wider Middle East since 1926, Deloitte’s member firm in the UAE now has offices in six cities across the country, including Dubai. As one of the world’s biggest professional services and accountancy firms, Deloitte is keen to attract the best accounting talent by offering comprehensive career progression programmes which set a benchmark for training and development.

Deloitte supports training towards a number of professional qualifications, but found that ACCA was particularly well suited to the needs of the Dubai office: ‘We run a specific graduate programme which focuses only on the ACCA Qualification,’ explains Cynthia Corby, partner responsible for the Professional Development Programme.

‘This is because, here in Dubai, we are expected to report under IFRS, and projects currently under way to converge US GAAP and IFRS will make an understanding of IFRS even more important. The ACCA syllabus allows students to study IFRS and, in addition, our employees can take their ACCA exams locally and are supported by local training providers.’ Currently 30 Deloitte Dubai employees are taking part in the programme. Overall, Deloitte employs 60 ACCA students, affiliates and members in its Dubai office.

Beyond IFRS, Deloitte also welcomes the breadth of the ACCA syllabus which equips junior employees with the financial and management knowledge necessary for a long term career in any of Deloitte’s service lines. ‘ACCA is a means of investing in our future,’ says Corby, ‘by helping young graduates obtain both a professional qualification and the skills we require to sustain the growth that we have experienced both locally and nationally.’

ACCA also attracts the calibre of employee that Deloitte wants to have: ‘ACCA membership is highly valued by employers in every sector, and therefore much sought after by the top talent that we want to attract in order to remain one step ahead, both for our clients and for our staff.’

Deloitte tailors its professional development support to each level of career progression, making sure students can fulfil the responsibilities of their current

grade, and meet the expectations of senior staff and clients, before moving on. Professional development is monitored against defined global competencies, with individual career plans taking account of these benchmarks as well as reflecting personal career aspirations. Deloitte provides full financial support for ACCA students, allows generous study and exam leave, and gives successful staff a bonus for passing their exams first time. In addition, students can take part in ACCA events and courses, and can access a range of publications, case studies and toolkits.

Approved Employer status remains a valuable asset: ‘It means that your graduate programme is recognised as market-leading,’ concludes Corby. ‘It is both a great compliment and shows that our programme is effective by providing independent assurance of Deloitte’s training

strategy. By comparing our training, appraisal and mentoring processes against

ACCA’s global best practice standards, students can be reassured that they are

receiving the best quality training, and know that

Deloitte will remain totally committed to their development both before and after

they are professionally

qualified.’

WHAT IT’S LIKE TO WORK AT DELOITTE, DUBAI, UAE

24 LEARNING CENTRE

Page 25: ACCA's Magazine Oct.2009_1

SABIKA NAJAFIACCA student,audit assistant‘I chose accountancy as a career because I liked the structure of accounting,’ says ACCA student Sabika Najafi. ‘I also like the fact that you can build on the basics to learn everything else. Accountancy is constantly developing, so that also keeps it challenging.’

Sabika is in her second year as an assistant in Deloitte’s audit department: ‘I enjoy audit because my work varies from one client to another,’ she says. ‘My responsibilities depend on which section of the financial statement is assigned to me by my senior. I have to ensure my sections are completed and reviewed, that all queries have been addressed, and that I have raised any issues with my seniors in the field.’

When considering her study options, Sabika considered ACCA the most relevant accountancy qualification because of its global recognition, and the syllabus coverage given to IFRS. She greatly appreciates the support she receives from Deloitte as she progresses through her exams: ‘Deloitte has an excellent system in place which enhances your development both academically and professionally, and as it is an ACCA Approved Employer, I don’t have to worry about managing the work experience element of the qualification.’

FAISAL AL-HARIRIACCA affiliate, senior auditor‘The accountancy profession is changing rapidly,’ says Faisal Al-Hariri, explaining his career choice. ‘Accountancy offers a

career which is both exciting and challenging, with unlimited opportunities and rewards, and which will

enable me to achieve a leadership position in business.’ Faisal, an ACCA affiliate, is currently a senior auditor, a role to which he was promoted in October 2008.

‘ACCA members are more in demand here than ever before as organisations want to use their knowledge and expertise.’ As well as improving career prospects, Faisal also recognised the relevance of the ACCA syllabus: ‘ACCA is designed to broaden and deepen the accounting knowledge of practising professionals. As accountants and auditors become more involved in business, ACCA studies help us prepare for – and respond to – our changing role.’

And even though his exams may be over, Faisal still appreciated the benefits of working for an ACCA Approved Employer: ‘I have to keep my knowledge up to date in order to work to industry standards. Working for an ACCA Employer gives me the opportunity to do this, and to develop new skills through the practical experience that I can gain.’

choice. ‘Accountancy offers a career which is both exciting and challenging, with unlimited opportunities and rewards, and which will

enable me to achieve a leadership

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STUDENT ACCOUNTANT 10/2009 25

Page 26: ACCA's Magazine Oct.2009_1

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

Page 27: ACCA's Magazine Oct.2009_1

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)

EXPERIENCE THE ABSOLUTE IN ACCA AND CAT COURSES AT SUNWAY-TESInspiring Futures, Nurturing Possibilities, Realising Potentials

The ONLYPLATINUM

Tuition Provider inMALAYSIA

Congratulations! to our December 2008 ACCA and CAT Graduates

Best of the Best: Puan Sri Dr Susan Cheah congratulating Foo Peilin (ACCA Top

Affi liate, First Placing in Malaysia, and Ernst & Young Best Graduating Student

Award for December 2008)Also available, Sunway-TES EarnMyACCA Self-Study Support Programme

Sunway University College (KP/JPS/DFT/US/B15) Governed by the Sunway Education Trust Fund. Operating Company: Sunway College Sdn Bhd

(146440-K) A member of the Sunway Group.

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SUNWAY-TES GROUP OF COMPANIES Kolej Sunway Kuching, Malaysia l Tel +6 (082) 236 666 l www.swck.edu.my Shanghai Sunway Financial Training Co. Ltd., PR China l Tel +86 (021) 5852 4899, 5852 4896 | www.sunway-tes.cn

ACADEMIC PARTNERS Sunway College Johor Bahru, Malaysia l Tel +6 (07) 359 6880 l www.sunway.edu.my/jb Kolej Sinar, Melaka, Malaysia l Tel +6 (06) 286 9876 l www.sinarcollege.edu.my Hanoi University, Vietnam | Tel +84 (0) 4 3553 3560 l www.hanu.vn since 2007TURNING VISION INTO REALITY

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TS 66 WORLD TOP SCORERS 233 MALAYSIA TOP SCORERS

For December 2008 examination, Sunway-TES surpassed the World-pass rate for ALL 16 ACCA papers.

1 Foo Peilin 1st Placing2 Josephine Tan Lin Ti 3rd Placing

MALAYSIAN TOP AFFILIATES(ACCA December 2008)

WORLD & MALAYSIAN TOP SCORERS(CAT December 2008)

1 Tessrina Kaur Dhillon Paper T22 Tan Kee Hoong Paper T4

1 Ng Cheng Hong Paper T6 5 Germaine Chong Paper T6 9 Lim Ooi Leong Paper T6

2 Lim Yee Chien Paper T6 6 Foo Pei Hann Paper T6 10 Lim Yee Chien Paper T8

3 Jessie Lim Shee Jo Paper T6 7 Chong Yew Tian Paper T6

4 Chiok Poh Nee Paper T6 8 Ooi Wyn Yau Paper T6

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986 7

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2 Thong Ei Leen Paper F5 5 Foo Chun Keong Paper P1 8 Ling Li Yuen Paper P5

3 Quek Yi Lian Paper F7 6 Lee Yean Ting Paper P2 9 Yong Su-N Paper P7

2

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1

Also available, Sunway-TES EarnMyACCA Self-Study Support ProgrammeSunway University College (KP/JPS/DFT/US/B15) Governed by the Sunway

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SUNWAY UNIVERSITY COLLEGE No. 5, Jalan Universiti, Bandar Sunway, 46150 Petaling Jaya, Selangor, Malaysia Tel +6 (03) 7491 8622 | Fax +6 (03) 5631 8391 | www.sunway.edu.my

SUNWAY-TES GROUP OF COMPANIES Kolej Sunway Kuching, Malaysia l Tel +6 (082) 236 666 l www.swck.edu.my Shanghai Sunway Financial Training Co. Ltd., PR China l Tel +86 (021) 5852 4899, 5852 4896 | www.sunway-tes.cn

ACADEMIC PARTNERS Sunway College Johor Bahru, Malaysia l Tel +6 (07) 359 6880 l www.sunway.edu.my/jb Kolej Sinar, Melaka, Malaysia l Tel +6 (06) 286 9876 l www.sinarcollege.edu.my Hanoi University, Vietnam | Tel +84 (0) 4 3553 3560 l www.hanu.vn since 2007TURNING VISION INTO REALITY

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TS 66 WORLD TOP SCORERS 233 MALAYSIA TOP SCORERS

For December 2008 examination, Sunway-TES surpassed the World-pass rate for ALL 16 ACCA papers.

1 Foo Peilin 1st Placing2 Josephine Tan Lin Ti 3rd Placing

MALAYSIAN TOP AFFILIATES(ACCA December 2008)

WORLD & MALAYSIAN TOP SCORERS(CAT December 2008)

1 Tessrina Kaur Dhillon Paper T22 Tan Kee Hoong Paper T4

1 Ng Cheng Hong Paper T6 5 Germaine Chong Paper T6 9 Lim Ooi Leong Paper T6

2 Lim Yee Chien Paper T6 6 Foo Pei Hann Paper T6 10 Lim Yee Chien Paper T8

3 Jessie Lim Shee Jo Paper T6 7 Chong Yew Tian Paper T6

4 Chiok Poh Nee Paper T6 8 Ooi Wyn Yau Paper T6

2 3 4 5 6 7 8 9

1 2 3 4 5

MALAYSIAN TOP SCORERS(ACCA December 2008)

986 7

1 Chan Suet Yee Paper F4 4 Ter Lay Mei Paper F8 7 Loo Lai Fatt Paper P2

2 Thong Ei Leen Paper F5 5 Foo Chun Keong Paper P1 8 Ling Li Yuen Paper P5

3 Quek Yi Lian Paper F7 6 Lee Yean Ting Paper P2 9 Yong Su-N Paper P7

2

3 Quek Yi Lia

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1

Also available, Sunway-TES EarnMyACCA Self-Study Support ProgrammeSunway University College (KP/JPS/DFT/US/B15) Governed by the Sunway

Education Trust Fund. Operating Company: Sunway College Sdn Bhd (146440-K) A member of the Sunway Group.

KP/JP

S/DF

T/US

/B15

KP/

JPS(

KR75

55)0

6/12

KPT

/JPS(

KR76

49)1

2/11

SUNWAY UNIVERSITY COLLEGE No. 5, Jalan Universiti, Bandar Sunway, 46150 Petaling Jaya, Selangor, Malaysia Tel +6 (03) 7491 8622 | Fax +6 (03) 5631 8391 | www.sunway.edu.my

SUNWAY-TES GROUP OF COMPANIES Kolej Sunway Kuching, Malaysia l Tel +6 (082) 236 666 l www.swck.edu.my Shanghai Sunway Financial Training Co. Ltd., PR China l Tel +86 (021) 5852 4899, 5852 4896 | www.sunway-tes.cn

ACADEMIC PARTNERS Sunway College Johor Bahru, Malaysia l Tel +6 (07) 359 6880 l www.sunway.edu.my/jb Kolej Sinar, Melaka, Malaysia l Tel +6 (06) 286 9876 l www.sinarcollege.edu.my Hanoi University, Vietnam | Tel +84 (0) 4 3553 3560 l www.hanu.vn since 2007TURNING VISION INTO REALITY

1 21 2

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S(KR

7649

)12/

11

iversiti, Bandar Sunway, 46150 Petaling Jaya, Selangor, Malaysia91 8622 | Fax +6 (03) 5631 8391 | www.sunway.edu.my

TS 66 WORLD TOP SCORERS 233 MALAYSIA TOP SCORERS

For December 2008 examination, Sunway-TES surpassed the World-pass rate for ALL 16 ACCA papers.

1 Foo Peilin 1st Placing2 Josephine Tan Lin Ti 3rd Placing

MALAYSIAN TOP AFFILIATES(ACCA December 2008)

WORLD & MALAYSIAN TOP SCORERS(CAT December 2008)

1 Tessrina Kaur Dhillon Paper T22 Tan Kee Hoong Paper T4

1 Ng Cheng Hong Paper T6 5 Germaine Chong Paper T6 9 Lim Ooi Leong Paper T6

2 Lim Yee Chien Paper T6 6 Foo Pei Hann Paper T6 10 Lim Yee Chien Paper T8

3 Jessie Lim Shee Jo Paper T6 7 Chong Yew Tian Paper T6

4 Chiok Poh Nee Paper T6 8 Ooi Wyn Yau Paper T6

2 3 4 5 6 7 8 9

1 2 3 4 5

MALAYSIAN TOP SCORERS(ACCA December 2008)

986 7

1 Chan Suet Yee Paper F4 4 Ter Lay Mei Paper F8 7 Loo Lai Fatt Paper P2

2 Thong Ei Leen Paper F5 5 Foo Chun Keong Paper P1 8 Ling Li Yuen Paper P5

3 Quek Yi Lian Paper F7 6 Lee Yean Ting Paper P2 9 Yong Su-N Paper P7

2

3 Quek Yi Lia

MALAYSIAN TOP SCORERS(CAT December 2008)

1

Page 28: ACCA's Magazine Oct.2009_1

CAMBRIDGE ICFE:WHAT DO USERS THINK?I

n the September 2009 issue of Student Accountant, we reported on the growing interest in Cambridge ICFE – the

International Certificate in Financial English, developed jointly by ACCA and Cambridge ESOL (English for Speakers of Other Languages), part of the University of Cambridge. Now it’s the turn of students and tuition providers to give their verdict.

Htet Naing U, an ACCA student and business relationship manager from Myanmar, speaks for many when stating his reasons for studying Cambridge ICFE. ‘First, the test is recognised by the UK Border Agency – that was my

driving force,’ he comments. ‘The qualification is internationally recognised and gives me lifelong skills, and it helps my career development. In the current climate, companies wanting to make redundancies will not want to let go of staff who have worked hard and who have reputable professional qualifications.’

ACCA student Yana Burmistrova, from Russia, studied at the London School of Business and Finance (LSBF): ‘The Cambridge ICFE course gave me the stimulus to improve my English further,’ she comments. ‘I enriched my financial vocabulary, communication and writing skills

by doing the exam, which will be recognised around the world.’

For Uzbekistani ACCA student Mokhira Mahmut Qizi, again from LSBF, Cambridge ICFE was also a way to boost her ACCA performance.

‘I decided to improve my English skills in order to understand the technical information contained within ACCA textbooks, instead of spending my study hours trying to understand the words. English is a very complex language and there are so many words to learn. The tuition complemented my studies so I didn’t have to read extra books on different topics, which I found most helpful.’

28 CAMBRIDGE ICFE

Page 29: ACCA's Magazine Oct.2009_1

Improve your fi nancial English language skillswww.fi nancialenglish.org

CAMBRIDGE ICFE:WHAT DO USERS THINK?

The majority of Cambridge ICFE students study with a tuition provider, finding it the best and most efficient preparation for the exams. Rita Ying, who studied at Kaplan Language Training – English and Test Preparation in Hong Kong, comments: ‘The Kaplan programme really helped my preparation for the exam – the study materials pinpointed the areas to focus on, and lots of reading texts could be found in the Kaplan library which was a great help during my studies. My teacher helped us a lot with my reading by providing up to date news articles, and I also had mock oral exam practice.’

Rita’s fellow student Ruby Yen adds: ‘The Kaplan programme gave me some useful strategies and skills, especially the oral classes.

‘This is not an easy exam for students like me who do not use English frequently in their working environment, but Kaplan helped me achieve a good result.’

Irakli Chogovadze, an ACCA and LSBF student from Georgia, found that small tuition classes ‘encouraged interaction between colleagues’, and appreciated the opportunity to practise under exam conditions: ‘This helped me become more confident because I could familiarise myself with the

sequence and particular details of the exam.’

Mokhira Mahmut Qizi, adds: ‘Many of us on the course were busy studying for our ACCA exams so the teachers really had to inspire and challenge us so that we would get good marks.’ The effort was worth it, however – as Mokhira says: ‘For me, Cambridge ICFE is the best way to improve language skills for accounting or finance students who don’t have English as a first language.’

If you would like to learn more about Cambridge ICFE visit www.financialenglish.org for more information.

‘FOR ME, CAMBRIDGE ICFE IS THE BEST WAY TO IMPROVE LANGUAGE SKILLS FOR ACCOUNTING OR FINANCE STUDENTS WHO DON’T HAVE ENGLISH AS A FIRST LANGUAGE.’ MOKHIRA MAHMUT QIZI,ACCA STUDENT

29STUDENT ACCOUNTANT 10/2009