The accounting certification presented by the Association of Certified Accountants with Position (ACCA) and the Institute of Administrative Bills of Position (CIMA), issued by several UK agencies, is popular with the students.
Although the accounting course (CA) is sufficient to achieve good job opportunities, students who want to work abroad and benefit from the excellent workforce available to multinational companies are willing to spend. large amounts to study ACCA and CIMA in accredited institutions in the city.
Many students who have completed their class XII will benefit from these opportunities and begin to start their careers. But industry experts suggest something different.
"ACCA is considered an internationally recognized and accepted financing certification in more than 170 countries, and its program is in line with International Financial Reporting Standards. Many of the major financial managers (CFOs) from around the world Worlds are ACCA qualified," says Paul TJ, co-director, VidyaBharathi Institution Group.
He said that while it was compulsory for students to appear as a general competition test (CPT) before entering into CA, there are no such access tests for ACCA. Unlike CA, ACCA does not have a group system and students can write each paper separately.
"The results of the CA are poor as a cause of the group system. In addition, the general belief that the Institute of Public Accountants of India (ICAI) imposes serious restrictions on the number of people in the country, students who conduct their examinations each year pass, students are prepared to be in charge of the CA. The mandatory three-year contract after completion of the course is also not flattering, "he added.
Students who have completed class XII may have access to ACCA. They must explain 14 documents. CIMA is more management and accounting. The students who come to class XII for this certification must write 17 articles, among other things (14 articles and three practical matters). ACCA and CIMA courses can be completed within three years.
According to accredited institutions, CIMA is similar to a combination of MBA and ICWA courses offered in India. "CIMA has a higher level than the ACCA," said Paul. Both ACCA and CIMA offered by agencies in the UK.
The first three ACCA documents are computer-based exams. These examinations are on request and there is no limit on time or number of attempts. All other communication is in written mode and is held at an ACCA-authorized examination center, usually British Councils around the world. The installation is available in Kochi. For CIMA students can write the exam at any stage. However, they can only ignore after completing a pillar.
"Students can register for these courses online and directly at the overseas institutes. The fees must be paid in sterling," said Jayakrishnan of Lakshya CA Campus, Kochi. According to him, the accredited institutes, which offer training tasks at Rs 4 lakh for a three-year ACCA course. "This includes registration, examination opportunities and coaching fees," he added.
Wednesday 30 August 2017
Tuesday 11 July 2017
Seven Owsome Face about Accountants
Working through your CIMA qualifications can be difficult and stressful, there is a lot of information to process and study. To help you get through your qualifications I have developed 7 interesting facts that will help you motivate you to the finish line:
1) In terms of employment statistics, the US Department of Labor Of the workforce estimates that there will be an 11% increase in counters in the US. Between 2014-2024. Incredible considering that there were 1,332,700 accountants registered in 2014!
2) In money counters received an average 12% bonus in the UK last year. 4% more than the last 8 years average!
3) Accountants have the potential to earn £ 26,000- £ 50,000 onwards. In the first two years, a public accountant can earn up to £ 47,900 more bonuses. The average business accountant in Great Britain earns an impressive £ 90,800.
4) On the up! In recent data, net profit margins for the average company in the accounting category rose to 22 percent in 2015 from 18 percent in 2014.
5) A new Sageworks report found that the average private company offering services ranging from accounting, tax preparation, accounting or payroll increased its sales by an annual rate of 12% by 2015, a higher growth rate than Private companies in general!
6) There are over 2,000,000 meters on the planet. However, with less than 1% of the population, the UK accounts for 13% of the world's counters!
7) Did you know? The likes of Mike Jagger, Eddie Izzard and JP Morgan were all countable. Could you be next in the Hall of Fame?
1) In terms of employment statistics, the US Department of Labor Of the workforce estimates that there will be an 11% increase in counters in the US. Between 2014-2024. Incredible considering that there were 1,332,700 accountants registered in 2014!
2) In money counters received an average 12% bonus in the UK last year. 4% more than the last 8 years average!
3) Accountants have the potential to earn £ 26,000- £ 50,000 onwards. In the first two years, a public accountant can earn up to £ 47,900 more bonuses. The average business accountant in Great Britain earns an impressive £ 90,800.
4) On the up! In recent data, net profit margins for the average company in the accounting category rose to 22 percent in 2015 from 18 percent in 2014.
5) A new Sageworks report found that the average private company offering services ranging from accounting, tax preparation, accounting or payroll increased its sales by an annual rate of 12% by 2015, a higher growth rate than Private companies in general!
6) There are over 2,000,000 meters on the planet. However, with less than 1% of the population, the UK accounts for 13% of the world's counters!
7) Did you know? The likes of Mike Jagger, Eddie Izzard and JP Morgan were all countable. Could you be next in the Hall of Fame?
Thursday 29 June 2017
P2 Advanced Management Accounting Exam Question - Dumps4Download
Question No 8:
Performance measures that monitor the extent to which a not-for-profit organization's objectives have been achieved are measures of:
A. Economy
B. Efficiency
C. Effectiveness
D. Enterprise
Answer: C
Performance measures that monitor the extent to which a not-for-profit organization's objectives have been achieved are measures of:
A. Economy
B. Efficiency
C. Effectiveness
D. Enterprise
Answer: C
Friday 21 April 2017
ACCA and IMA: Preparing Your Company for Change and Disruption
According to a new report from ACCA (Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants)), companies must regularly and systematically to include emerging risks to stimulate innovation. More information about the report, "Innovation and ERM: partners in managing shock waves"
The traditional thinking about strategy has become less relevant as a disturbance wave accelerates the pace of business. The report, written by Dr. Paul L. Walker, Ph.D., CPA, highlights the main ways in which enterprise risk management (ERM) can be linked successfully for strategy and innovation, including:
In accounting and finance profession specifically, understanding the risks is a key to successfully hijack the failure of a company to success. Consequently, there is increasing pressure for accountants to develop a keen sense of business risk on your financial experience.
"Financial professionals are generally risk averse, but need to expand your comfort level to become true strategic partners," said Raef Lawson, Ph.D., CMA, CPA, Vice President of Research and Policy at the IMA. "CFOs and finance future professionals need a change of mentality of accounting and control to focus on value factors in the company."
ERM not only allows a company to innovate but can also protect the decline in innovation. Companies that are new and strategic things to create their own wave of unrest must also manage risk and uncertainty. This requires a different approach to capturing new ideas and new tools for risk.
"Innovation without knowing the risk is the main reason for failure," said Faye Chua, Managing Director of Business Insights at ACCA. "Being proactive in planning against unforeseen challenges paves the way for success in times of uncertainty."
This report is a product of the strategic alliance between ACCA and IMA, focusing on research to study the future of global accounting profession.
The traditional thinking about strategy has become less relevant as a disturbance wave accelerates the pace of business. The report, written by Dr. Paul L. Walker, Ph.D., CPA, highlights the main ways in which enterprise risk management (ERM) can be linked successfully for strategy and innovation, including:
- Interpretation of disturbing waves: By integrating risk detection tools, companies can anticipate and respond to disturbances waves more easily.
- Rethinking the strategy and tools: With the tools that improve understanding of the risks, companies can develop and modify the key assets to combat changes in the external environment.
- Innovate business models: In response to the risk, it is important for companies to innovate not only in their fields but also consider the innovatios business model.
In accounting and finance profession specifically, understanding the risks is a key to successfully hijack the failure of a company to success. Consequently, there is increasing pressure for accountants to develop a keen sense of business risk on your financial experience.
"Financial professionals are generally risk averse, but need to expand your comfort level to become true strategic partners," said Raef Lawson, Ph.D., CMA, CPA, Vice President of Research and Policy at the IMA. "CFOs and finance future professionals need a change of mentality of accounting and control to focus on value factors in the company."
ERM not only allows a company to innovate but can also protect the decline in innovation. Companies that are new and strategic things to create their own wave of unrest must also manage risk and uncertainty. This requires a different approach to capturing new ideas and new tools for risk.
"Innovation without knowing the risk is the main reason for failure," said Faye Chua, Managing Director of Business Insights at ACCA. "Being proactive in planning against unforeseen challenges paves the way for success in times of uncertainty."
This report is a product of the strategic alliance between ACCA and IMA, focusing on research to study the future of global accounting profession.
Friday 7 April 2017
Cima P2 PDF Exam Engine Dumps - Dumps4download
Question NO : 7
A company has a maximum of $2 million to invest and has identified four viable projects, E, F, G and H. The initial investment for each of the projects is the maximum amount that can be invested in the project, but any amount up to the maximum can be invested. The projects are divisible. The projects have been evaluated using net present value, as below. All figures are $ millions.
A. Project F
B. Project E
C. Project H
D. Project G
Answer:
A In which project should the company invest $2 million?
A company has a maximum of $2 million to invest and has identified four viable projects, E, F, G and H. The initial investment for each of the projects is the maximum amount that can be invested in the project, but any amount up to the maximum can be invested. The projects are divisible. The projects have been evaluated using net present value, as below. All figures are $ millions.
A. Project F
B. Project E
C. Project H
D. Project G
Answer:
A In which project should the company invest $2 million?
Sunday 19 March 2017
Dumps4download Advanced Management Accounting Exam Question
Question No 7:
The standard direct labour cost of one batch of 100 units of a product is $50.40. This assumes a standard time of 4.2 hours, costing $12 per hour. The standard time of 4.2 direct labour hours is the average time expected per batch based on a product life of 12,800 units or 128 batches. The expected time for the first batch was 20 hours and an 80% learning curve is expected to apply throughout the product’s life.
The company has now completed the production of 32 batches of the product and the total actual direct labour cost was $3,493. The following direct labour variances have also been calculated:
Direct labour rate $85 Adverse
Direct labour efficiency $891 Adverse
Further analysis has shown that the direct labour efficiency variance was caused solely by the actual rate of learning being different from that expected. However, the time taken for the first batch was 20 hours as expected.
Required:
(a) Calculate the actual rate of learning that occurred.
(b) Assuming that the actual rate of learning and the actual labour rate continue throughout the life of the product, calculate the total direct labour cost that the company will incur during the life of the product.
Answer:
(a)
The standard cost of the actual hours worked was $3,493 - $85 = $3,408.
At $12 per hour the actual hours worked were $3,408 / $12 = 284 hours.
So the average time per batch for the first 32 batches was 284 / 32 = 8.875 hours per batch.
32 batches represent 5 doublings of output.
The learning rate was therefore:
5 √ 8.875 / 20 = 0.85 = 85%
(b)
Actual labour rate paid = $3,493 / 284 = $12.30 per hour.
Learning index = log 0.85 / log 2 = -0.2345
Y = 20 x 128-0.2345 = 6.41 hours
Total cost of direct labour = 6.41 x 128 x $12.30 = $10,092
The standard direct labour cost of one batch of 100 units of a product is $50.40. This assumes a standard time of 4.2 hours, costing $12 per hour. The standard time of 4.2 direct labour hours is the average time expected per batch based on a product life of 12,800 units or 128 batches. The expected time for the first batch was 20 hours and an 80% learning curve is expected to apply throughout the product’s life.
The company has now completed the production of 32 batches of the product and the total actual direct labour cost was $3,493. The following direct labour variances have also been calculated:
Direct labour rate $85 Adverse
Direct labour efficiency $891 Adverse
Further analysis has shown that the direct labour efficiency variance was caused solely by the actual rate of learning being different from that expected. However, the time taken for the first batch was 20 hours as expected.
Required:
(a) Calculate the actual rate of learning that occurred.
(b) Assuming that the actual rate of learning and the actual labour rate continue throughout the life of the product, calculate the total direct labour cost that the company will incur during the life of the product.
Answer:
(a)
The standard cost of the actual hours worked was $3,493 - $85 = $3,408.
At $12 per hour the actual hours worked were $3,408 / $12 = 284 hours.
So the average time per batch for the first 32 batches was 284 / 32 = 8.875 hours per batch.
32 batches represent 5 doublings of output.
The learning rate was therefore:
5 √ 8.875 / 20 = 0.85 = 85%
(b)
Actual labour rate paid = $3,493 / 284 = $12.30 per hour.
Learning index = log 0.85 / log 2 = -0.2345
Y = 20 x 128-0.2345 = 6.41 hours
Total cost of direct labour = 6.41 x 128 x $12.30 = $10,092
Friday 24 February 2017
Free CIMA P2 Training Exam Question - Dumps4download
Question No 6:
In short-term decision making, which TWO of the following are relevant costs?
A. Opportunity costs
B. Sunk costs
C. Committed costs
D. Avoidable costs
E. Notional costs
Answer: D, A
For More Info:
In short-term decision making, which TWO of the following are relevant costs?
A. Opportunity costs
B. Sunk costs
C. Committed costs
D. Avoidable costs
E. Notional costs
Answer: D, A
For More Info:
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