THE BOTTOm LINE CIMA and IoD Alliance Ceremony

CIMA and Institute of Directors of (IoD) signed a and the private sector through education, training and Memorandum of Understanding (MoU) on Wednesday 25 participation at relevant fora. June 2008 at Cresta Golf View Hotel in Speaking at the same . The MoU is function, CIMA Zambia aimed at fostering President Victor collaboration between Nyasulu pointed out the two organisations, that ‘as a market in the enhancement leader in the science of good corporate of governance in accounting, CIMA is Zambia’s public and delighted to bring private sector. to the table through the MoU a wealth of Speaking at the expertise on corporate occasion of the signing governance. For ceremony British High example, CIMA has Commissioner to recently developed Zambia his Excellency the CIMA strategic Alistair Harrison noted scorecard with the that over the last three fundamental objective years, Zambia had done very well at the macroeconomic of, among others, assisting the board, particularly the front. independent directors, in the oversight of a company’s strategic process. Mr Harrison further explained that the biggest challenge Zambia was facing is rationalising the limited resources CIMA South has moved now available for expenditure on infrastructure, health and education. Mr Harrison alluded to the need for the fight against corruption to continue side by side with The CIMA office has moved to: promotion of good corporate governance. 1st Floor, South West Wing IoD Zambia President, Mumba Kapumpa said the MoU (new building next to Thrupps Centre) emanated from the Institute’s decision to take good 198 Oxford Road corporate governance beyond the corporate world. ‘We Illovo are taking issues of good corporate governance beyond 2196 the corporate world. We are talking to trade unions, trade institutions, government ministries, private and The numbers have changed to: public sector organisations among others,’ he said. Mr T: 011 788 8723 / 0861 CIMA SA (246272) Kapumpa said the Institution had a mission to promote F: 011 788 8724 high standards of corporate governance in both the public

1 TOP STUDENTS MAY 2008 EXAMINATIONS

The following students obtained Paper 7- Financial Accounting & Paper 3- Risk & Control Strategy the highest mark in their respective Tax Principles Rachel Kalipi countries in the May 2008 Mussa Tawakali examinations. Congratulations to all Paper 9- Financial Strategy of you. Paper 8- Financial Analysis Christian Knobloch Mussa Tawakali TOP STUDENTS IN BOTSWANA TOPCIMA Strategic Level Derick Briers Managerial Level Paper 3- Risk & Control Strategy Paper 1- Performance Evaluation Mphatso Kasalika TOP STUDENTS IN SOUTH AFRICA Pearl Molosiwa Paper 6- Strategy Managerial Level Paper 2- Decision Management Sheila Mahuka Paper 1- Performance Evaluation Solomon Ngwenya Jason Nathan Paper 9-Financial Strategy Paper 4- Organisational Stephen Luwanda Paper 2- Decision Management Management & information Elzette Ferreira System TOPCIMA Alex Jjuko Boddingtone Munyenyembe Paper 4- Organisational Management & Information Paper 5- Integrated Management TOP STUDENTS IN MAURITIUS System Veronica Ofaletse Lucille De Kock Managerial Level Johannes Poggenpoel Paper 7- Financial Accounting & Paper 4- Organisational Tax Principles Management & Information Paper 5- Integrated Management Mpho Molefhi System Pershy Ntuli Sailesh Ramyead Leanne De Gouveia Paper 8- Financial Analysis Veronica Ofaletse Paper 5- Integrated Management Paper 7- Financial Accounting & Clifford Nyathi Aparna Ramprogas Tax Principles Stuart McKechnie Strategic Level Paper 7- Financial Accounting & Paper 3- Risk & Control Strategy Tax Principles Paper 8- Financial Analysis Keamogetse Phokoje Mohamed Ikbal Ramjanally Roxanne Mingard Paper 6- Business Strategy Strategic Level Strategic Level Saakarea Rabalone Paper 3- Risk & Control Strategy Paper 3- Risk & Control Strategy Yim Teck Li Ching Hum Gizelle Strydom Paper 9- Financial Strategy Theresa Ntshutelang Paper 6- Business Strategy Paper 6- Business Strategy Jhowry Gunesh Shevana Somaru TOPCIMA Palpolage Kalansooriya Paper 9- Financial Strategy Paper 9- Financial Strategy Deodass Poolovadoo Pieter Schoeman TOP STUDENTS IN MALAWI TOP STUDENTS IN NAMIBIA TOPCIMA Managerial Level Nonzukiso Siyotula Paper 1- Performance Evaluation Managerial Level Susanna Middelberg Rute Kayira Paper 1- Performance Evaluation Norbetha Chatakavinga TOP STUDENTS IN SWAZILAND Paper 2- Decision Management Austin Kabaghe Paper 4- Organisational Managerial Level Management & Information Paper 1- Performance Evaluation Paper 4- Organisational System Themba Dlamini Management & Information Florian Hartzenberg System Paper 2- Decision Management Rute Kayira Paper 8- Financial Analysis Mukasa Timothy Wilhelmina Brand Samkeliso Motsa Paper 5- Integrated Management Thandazo Moyo Strategic Level Paper 4- Organisational

2 Management & Information Chilufya Kabalika Paper 4- Organisational System Management & Information Zanele Dlamini Paper 7- Financial Accounting & System Tax Principles Wakemore Musakasa Paper 7- Financial Accounting & Yamba Chotela Tax Principles Paper 5- Integrated Management Skhumbuzo Dlamini Paper 8- Financial Analysis Ray Mushayahama Namakau Situmbeko Paper 8- Financial Analysis Paper 7- Financial Accounting & Mukasa Timothy Strategic Level Tax Principles Paper 3- Risk & Control Strategy Azael Ndlovu Strategic Level Moses Mwale Paper 6- Business Strategy Paper 8- Financial Analysis Nokuthula Dludlu Paper 6- Business Strategy Farai Mujajati Rachel Gondwe TOP STUDENTS IN ZAMBIA Strategic Level Paper 9-Financial Strategy Paper 3- Risk & Control Strategy Managerial Level Ben Mulenga Kudzai Nyathi Paper 1- Performance Evaluation Tom Banda Claire Chileshe TOPCIMA Zainab Chitobolo Paper 6- Business Strategy Paper 2- Decision Management Tapfumaneyi Mubonderi Kebby Mulomo TOP STUDENTS IN ZIMBABWE Paper 9-Financial Strategy Paper 4- Organisational Managerial Level Fortunate Chapendama Management & information Paper 1- Performance Evaluation System Gretchen Zenda TOPCIMA Douglas Kuliye Arnold Chidakwa Paper 2- Decision Management Paper 5- Integrated Management Luke Chanhuwa

BE BETTER EQUIPPED FOR THE ECONOMIC BOOM

The President of the Ghana Branch of CIMA, Mr. Jonas S. would not have been complete without some tips from Quaye, recently held a soiree, dubbed, “An Evening with Mr. Sam Tettey a Senior member of the Institute and the the President” at his Hill City residence in Accra, on the Managing Director of City Investment Company Limited: Aburi hills aimed at bringing members together and to who delivered an address on the topic “The role of the motivate them to participate in the activities of the local Management Accountant in a Globalised World”. branch. Mr. Tettey touched on five major factors for management In his welcome address, Mr. Quaye has urged CIMA accountants to dwell on, including new standards of professionals to be better prepared than ever to take up performance, international quality products and services, the challenge of the economic boom in the country. He cost competitiveness, corporate cultural practices and cited the current economic stability and the recent oil market advantages. find as having great potential for the nation and called on members of the Ghana Branch to be ready to contribute The “Evening with the President”, which is an initiative their quota to the anticipated economic boom. of Mr. Quaye was well attended and attracted other professionals including Lawyers, Surveyors, Educationist, Speaking further, Mr. Quaye acknowledged that CIMA Architects, Engineers, Bankers, Administrators and Professionals were adequately equipped and resourced Accountants. There were 7 professionally to play very critical roles in the building of students, 33 members and the national economy and called on members to respond passed finalists with appropriately to all opportunities. He challenged the their spouses. students present to devote their time to their studies and also aspire achieving their letters.

Being management accountants, the evening

3 Shedding light on skills Eskom embarks on learnerships to guarantee ability ahead of recovery

Eskom chose ten candidates to participate in their pilot conference to ensure they chose the right model for the learnership programme, which was accredited in 2007 and learnership. is currently underway, with CIMA being used as the model for their learnership programme. “CIMA is a highly tradable qualification, with graduates ideally equipped According to Eskom to work outside Training Manager an organisation’s Amanda Bergh finance function, the integration through their of studies while strategic and upgrading skills managerial focus,” was a motivating says Bergh. factor for Eskom in choosing CIMA. With the expansion “Management phase Eskom accountants have has embarked the potential to upon, they need be at the heart of accountants who strategic decision- have the financial making within an acumen but can also organisation.” think on a strategic level. Strategic business skills will develop business leaders Bergh explains how Eskom conducted extensive who in turn will add to the strong skills base this country benchmarking and attended an international CIMA and large corporates like Eskom need.

New CIMA Training Partners

ACE-Audit Control and Expertise is a highly specialised assets from the raw material stage through to the sale of credit support services organisation. Their services enable finished goods. Financial Institutions to finance end-to-end trade flows with effective monitoring and control of the trading They provide clients with an array of services to secure the completion of their Asset Conversion Cycle, which include:

• Structured Trade and Commodity Management Services • Collateral Control Services • Monitoring and Inspection Services • KYCC (Due Diligence) Services • ACE Credit Shield • Audit Services • Commodity Profile • Legal Services and Training services

Thebe Investment Corporation was established in 1992 by the Batho Batho Trust as its sole shareholder -

4 and Nelson Mandela as chairman of the Trust - Thebe its 15 years and one of the most successful Investment Corporation became the pioneer of Broad- in South Africa today. Thebe established itself over the Based Black Empowerment (BBBE) in South Africa in years to become a diversified investment management company with a mixed portfolio of mature and green- field investments across a range of industries. The Group strives to be a trusted world class African company that develops and invests in businesses for the long term benefit of the community and all other stakeholders, fulfilling social objectives using economic means.

Thebe has over the years used three pivotal approaches to its investments:

• Starting the green-fields projects • Investing in established operations • Strongly promoting organic growth.

Zambia hosted an employers lunch and Training Certificate Presentation on Tuesday 5 August 2008 at the Taj Pamodzi Hotel

Standard Chartered Bank Managing Director Ms Mizinga Melu was the guest of honour. Six companies were presented with CIMA Training Certificates namely Zambian Breweries Plc, Bank Plc, Lusaka Water & Sewerage Company, MTN Zambia, Zambian Airways and the Office of the Auditor General. Speaking on the subject Human Capital Development and Organisational Competitiveness, Ms Melu said ‘ An organisation is as good as its people. To this end, the bank invested enormous resources in training and staff development.’ Ms Melu further stated that she would be interested in making available through CIMA specific knowledge to non finance staff around interpreting the balance sheet. This event was attended by 30 corporate representatives.

5 CIMA DIRECT

Whether it’s your first or fourth attempt at the Strategic Why use CIMA Direct? or Managerial level, use CIMA Direct to help you succeed. We cannot promise that you will pass the exams because CIMA Direct is an online learning support programme you have used CIMA Direct. However we believe that if that has been established to help CIMA student pass their you use CIMA Direct in the recommended way you will professional level exams. Available for the 3 strategic level improve your performance and increase your chances of papers and only for the following three managerial level success. You must: papers: • Be fully committed to your studies and exam • P2 - Management Accounting Decision Making preparation by following the recommended CIMA • P5 - Integrated Management and Direct work programme for your subject(s) • P8 - Financial Analysis • Regularly use the CIMA Direct site as a learning tool • Respond timeously and appropriately to The CIMA Direct package for November 2008 (both the all set questions and mock exams Strategic and Managerial subjects) will consist of: Cost to access CIMA Direct (VAT included): 1. A range of exam style questions and 2 mock exams per subject - on submitting an answer, students will receive 1 Subject at R1450.00 their marked assignment and feedback from their online 2 Subjects at R2900.00 tutor. All questions and mock exams have deadlines and 3 Subjects at R4300.00 students must submit their answers before the given deadline. Suggested answers will be available to download Please note that the fees do not include study systems following the deadline. and students resident outside of the Republic of South 2. Access to MindPlanning(R) - The MindPlanning(R) Africa do not need to pay VAT (14% of the original process is delivered through an online software amount) reinforcement tool, which enables the user to learn and practice the method of structured examination answer To access CIMA Direct or further information, planning. please contact Talitha Mokoka at talitha.mokoka@ 3. A range of online support materials. cimaglobal.com by Friday August 29.

Third party emails

Your personal information, which resides on the CIMA the default option for email is opt out. database, is protected by the Data Protection Act in the UK. This Act stringently governs what we may and may 3. If you wish to change these options, you can do so nor sent to you as members and registered students of by logging into MY CIMA at www.cimaglobal.com and CIMA. updating your personal profile

There are a few key points that you may wish to know: 4. If you click the receive the “no mail option”, the only thing you will receive from CIMA is your annual invoice, 1. Under no circumstances do we give away our so please be careful. mailing list. If a third party supplier wishes to send you information, they supply the information to CIMA and we We would urge you to opt in for emails as the type of do the mailshot. third party emails we send typically relate to jobs, tuition and CPD seminars offered by other professional bodies. If 2. You have the option to opt out of receiving third party you do not update your profile you will not receive these information. The default option for hard copy is opt in and valuable notifications.

6 Diary of Events

1) CIMA Events arising from ISQC 1 (Full Day)

Gauteng, Johannesburg Midrand 2 - 20 August The Role of Supply Chain in an Organisation - 26 August Midrand - 3 September 2008 Port Elizabeth - 4 September Durban - 5 September Zambia, Lusaka Bloemfontein - 8 September CIMA Strategic Scorecard Breakfast - 26 August (b) Maximising organizational growth and profitability Answer Planning using Mind Maps (evening) - 26 August through human resources (Full day seminar)

How Markers Work (tutor workshop) - 27 August Cape Town - 9 September Durban - 15 September Botswana, Gaborone Midrand - 17 September CIMA Strategic Scorecard Breakfast - 29 August Vereeniging - 18 September Bloemfontein - 19 September How Markers Work (tutor workshop) - 29 August Cape Town - 22 September

Answer Planning using Mind Maps (evening) - 29 August For further information regarding Altimax seminars please contact [email protected] Eastern Cape, Port Elizabeth CIMA Strategic Scorecard Breakfast - 01 September 3) IoD seminars

Answer Planning using Mind Maps (evening) - 01 (a) Building Effective Audit Committee (Half Day) September Johannesburg - 12 September

Western Cape, Cape Town (b) Governance for Trustees (Full Day) CIMA Strategic Scorecard Breakfast - 04 September Johannesburg - 18 September

Answer Planning using Mind Maps (evening) - 05 These seminars are presented by IoD but can be booked September through CIMA. For bookings or for further information, please contact Talitha Mokoka at talitha.mokoka@ How Markers Work (tutor workshop) - 05 September cimaglobal.com

KwaZulu-Natal, Durban The Impact on Organisational and Individual Well-being -12 September

For bookings or for further information, please contact Talitha Mokoka at [email protected]

2) Altimax Seminars

(a) Preparing for a practice review and other matters

7 Personal Growth, Personal Independence: The Limit Is Me By Robin Good

One day all the employees reached the office and they saw a big notice on the door on which it was written: CIMA equivalent to “Yesterday the person who has been hindering your growth in this company passed away. We invite you to Masters Degree join the funeral in the room that has been prepared in the gym”. The CIMA professional qualification is equivalent to a Master Degree, the independent UK agency In the beginning, they all got sad for the death of one of responsible for government scoring of immigrants’ their colleagues, but after a while they started getting qualifications has said. curious to know who was that man who hindered the growth of his colleagues and the company itself. The excitement in the gym was such that security agents A point score of 35, the same as an MSc, has been were ordered to control the crowd within the room. The awarded to the CIMA professional qualification by more people reached the coffin, the more the excitement the National Recognition Information Centre for the heated up. Everyone thought: “Who is this guy who was (UK NARIC), the independent body hindering my progress? Well, at least he died!” that assesses and scores qualifications from around One by one the thrilled employees got closer to the the world. The UK government uses this information coffin, and when they looked inside it they suddenly on its official database to benchmark qualifications became speechless. They stood nearby the coffin, shocked held by potential immigrants to the UK under its and in silence, as if someone had touched the deepest highly skilled worker programmes. part of their soul. There was a mirror inside the coffin: everyone who looked inside it could see himself. There The UK NARIC is the national agency providing the was also a sign next to the mirror that said: “There is only one person who is capable to set limits to your growth, it sole British official source of comparison information is YOU “. and advice on international education and training systems and overseas skills and qualifications. You are the only person who can revolutionise your life. You are the only person who can influence your happiness, your realisation and your success. You are the only person who can help yourself. Your life does Exclusive Books top 10 reads not change when your boss changes, when your friends change, when your parents change, when your partner 1. Screw It, Let’s Do It changes, when your company changes. Your life changes 2. Now, Discover Your Strengths when YOU change, when you go beyond your limiting 3. Freakonomics beliefs, when you realise that you are the only one 4. Who Moved My Cheese? responsible for your life. “The most important relationship 5. Rich Dad, Poor Dad you can have is the one you have with yourself” 6. The 7 Habits of Highly Effective People 7. Increase Your Financial IQ Examine yourself, watch yourself. Don’t be afraid of 8. Capitalist Nigger difficulties, impossibilities and losses, be a winner, build 9. God is My CEO yourself and your reality. The world is like a mirror, it 10. Just Enough Anxiety gives back to anyone the reflection of the thoughts in which one has strongly believed. The world and your reality are like mirrors laying in a coffin, which show to any individual the death of his/her divine capability to imagine and create his/her happiness and his/her success. It’s the way you face life that makes the difference.

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