ACCA High Achievers Ceremony-2010

ACCA High Achievers Ceremony-2010

ACCA Pakistan is organising High Achiever's ceremony 2010 in Karachi, Lahore and Islamabad on 5th October, 14th October and 19th November respectively to celebrate the extra ordinary accomplishments of High Achievers of CAT and ACCA Qualifications in December 2009 and June 2010 exam sessions. This year's ceremony will appreciate the achievement of 91 place winners; with 72 national positions and 19 global positions in the CAT and ACCA exams.
ACCA Pakistan congratulates the Pakistani High Achievers who have demonstrated potential to be leaders of the Accountancy professions and contribute to a sustainable growth of business in the country, equipped with in-depth knowledge and distinguished skills underpinned by strong values of professionalism and ethics...

ACCA PAKISTAN TRAINS CAREER ADVISORS

ACCA PAKISTAN TRAINS CAREER ADVISORS

23 September 2010, ACCA Pakistan organized a one-day Career Counseling workshop for teachers and student advisors at a local hotel in Lahore. ACCA recognizes the integral role career guidance plays in helping students identify their natural talents in order to pursue a career promising them professional success.

The workshop was based on the concept that the best career exploration and job search strategies capitalize on the natural strengths of an individual's Personality and Behavioral Style. Mr Shamez Mukhi, Head of Marketing, Communication and Media Relations, ACCA Pakistan welcomed the participants, explaining the challenges students and parents encounter while making career choices and resources developed by ACCA for students, teachers and parents. Ms. Shamsa Khoja, Marketing Executive ACCA Pakistan made a presentation on CAT and ACCA qualifications, entry routes, tuition providers and employment opportunities in Pakistan.

This was followed by a technical training on 'career counseling to personality type' conducted by Ms Rahila Narejo, Lead Consultant and Chief Executive, NHR. Rahila emphasized on the significance of aligning career decisions to students aptitude and industry demand.

The workshop was attended by 25 participants from leading schools, colleges and universities. One of the participants, Ms Kanwal Bajwa, The International School of Choueifat- Lahore commented that career guidance is a dynamic, on-going process enabling students to identify the best-fit career path for themselves. The training organized by ACCA Pakistan has been very helpful in equipping us as career advisors with the career assessment and guidance tools and techniques..

ACCA Pakistan Discussion Forum 'Gender Diversity on Boards in Pakistan'

ACCA Pakistan Discussion Forum 'Gender Diversity on Boards in Pakistan'

ACCA Pakistan is organising a discussion forum on 'Gender Diversity on
Boards in Pakistan' on 5, 10, 11 August 2010 in Lahore, Karachi,
Islamabad respectively. ACCA Pakistan has produced a discussion paper
Gender Diversity on Boards in Pakistan, which aims to provide a basis
for discussion and further research around a potential business case
for gender diversity on boards of publicly listed companies of
Pakistan. The discussion paper has been conceived and commissioned by
IFC(International Finance Corporation).

The discussion forums will provide opportunity to panellists and
participants from the business and financial world to explore the
current state of gender diversity on the boards and deliberate the
opportunities and challenges of having women on boards.

The discussion forum features Mr Arif Masud Mirza, Head of ACCA
Pakistan, Ms Bushra Naz Malik, CFO, Kohinoor Maple Leaf Group, Mr
Kamran Iqbal Yousafi, Partner, KPMG Taseer Hadi & Co. Chartered
Accountants and Mr Giuseppe Bonanno, Head of Finance & Control, Nestle
Pakistan Ltd. The discussion will be moderated by Dr Afra Sajjad, Head
of Education and Policy Development, ACCA Pakistan.

ACCA launches Foundations in Accountancy

ACCA launches Foundations in Accountancy
New suite of awards aims for maximum flexibility, maximum employability

ACCA announces Foundations in Accountancy, a new flexible suite of entry-level awards designed with both students and employers in mind.

Foundations in Accountancy is being introduced after detailed consultation with employers, learning providers, members, students and other professional accountancy bodies and regulators.

Retaining a revised Certified Accounting Technician (CAT) Qualification, Foundations in Accountancy provides a grounding in financial and management accounting, with professionalism and ethical behaviour at its core.

"For students, the flexible range of entry points means that they can begin at an appropriate level, avoiding duplication, so saving time and money in the long term," says Mr Arif Masud Mirza, Head of ACCA Pakistan. "They can complete qualifications in their own time, selecting those which best suit their own career aspirations."

For the first time, Foundations in Accountancy will see certification awarded at each level, helping students to chart their progress, and employers to recruit and train to meet their particular business needs. The highly practical content means that the knowledge students acquire can be directly applied in the workplace, offering immediate benefits to existing and prospective employers.

"Employers need to know that they are taking on competent employees in account-support roles" says Mr Mirza. "And they can be assured that this new range of awards will train individuals to the same consistent and high standard of the full ACCA Qualification, which is recognised and perceived highly all over the world."

"Employers can also be confident that candidates know how to conduct themselves professionally and ethically in the workplace, because completing the Foundations in Professionalism element is a prerequisite of receiving certification for any of the awards within Foundations in Accountancy."

The wide-ranging syllabus spans the key elements of financial and management accounting, including an Accountant in Business module which puts students' new knowledge into an economic, legal and regulatory context.

Flexibility is a key feature of ACCA's new suite of awards in terms of assessment delivery and level of progression. ACCA has increased its computer-based offering and now offers students the choice of sitting exams by CBE or paper for the first seven exams which make up Foundations in Accountancy.

In addition, students can complete a combination of exams in order to achieve awards at different levels. For example, students can complete two of the core exams plus Foundations in Professionalism in order to complete the first level qualification - Introductory Certificate in Financial and Management Accounting or continue to progress to whichever level they choose.

Students who complete all seven core exams, two of three options from Foundations in Taxation, Financial Management and Audit, the Foundations in Professionalism module and a years' work experience will have achieved the requirements to gain the CAT Qualification. However, those who wish to complete an-entry-level qualification to progress onto the ACCA Qualification, can do so after completing the Diploma in Accounting and Business.

Mr Mirza concludes: "The accountancy profession is constantly evolving to meet the demands of how businesses operate, and nowhere is this more apparent than at an accounting-support level. The accounting technician of today and tomorrow needs a rigorous and flexible qualification to help them contribute to business performance and an ever-changing business landscape."

The World in 2030: pressure on resources and a completely new approach to global business

The World in 2030: pressure on resources and a
completely new approach to global business
New ACCA report collates expert opinion on what our world will look
like in 20 years time

The world in 2030 will be a startlingly different place, with a
'flattening' of the economic landscape and a more genuinely global
market place, according to a new report from ACCA (the Association of
Chartered Certified Accountants), in collaboration with the strategic
research and consulting group Lighthouse Global.

The report, Where next for the global economy? A view of the world in
2030, collates predictions from 15 global experts in business,
economics, and accountancy. Covering areas such as the future global
power, the future of the earth's resources, and the future of the
corporate eco-system, the paper sees the world turned completely on
its head in 2030.

"Distracted by the powerful effects of the global financial crisis,
commentators, politicians, and economists have recently been focusing
on the short term; it's important that the longer term isn't
forgotten", says Mr Arif Masud Mirza, Head of ACCA Pakistan.

Mr Mirza adds: "In 2030, the world could be facing intense pressure on
resources, a big shift in global power, and a completely different way
of doing global business. These aren't things that we can just deal
with when they crop up. We need to start thinking about tomorrow
today.

"As a wide-ranging collection of insights, covering a wide array of
scenarios and possibilities, the report is designed to encourage
people to think about how their actions today will affect the world
tomorrow. We're sharing our panel's ideas and perspectives to provide
accountants and business with new thinking to help them make decision
based on the insights of those at the forefront of debate."

The report looks at the future of: the distribution of global power;
the earth's resources; financial markets; the corporate world; and the
future of government. Among the predictions made by ACCA's panel are
the following:

1. Some of today's biggest companies are likely to de-conglomerate
by 2030, outsourcing almost all central functions to achieve
efficiency. 'Federations of businesses' will be the corporations of
tomorrow. Strong virtual ties will connect increasingly specialist and
remote businesses, located in increasingly specialised regions and
cities. Small businesses will act like shoals of fish, becoming a
strong global force in the global environment.
2. With the world's population growing and with resources heading
in the opposite direction, there could be severe pressure on access to
oil, gas, or water. Food will be limited too, leading to increasing
elements of nationalism in discussions about resources.
3. The world will be made 'flatter' as a result of globalisation.
This could lead to a shift in global influence to the East. The East
won't be the next big thing; it will be the big thing. One of the
report's contributors, Nenad Pacek, the president of Global Success
Advisors, says: "The business world will be astonished by the rise of
new companies from emerging markets. At how powerful they will become.
They should not be underestimated in any way."

The predictions made in the report come from experts including: the
economist Andrew Dilnot, former director of the Institute of Fiscal
Studies, now principal of St Hugh's College Oxford; Chin Kwai Fatt,
the managing director of PwC Malaysia; Loughlin Hickey, KPMG's global
head of tax; Tony Hegarty, chief financial management officer at the
World Bank; and Professor Saul Estrin from the London School of
Economics.

ACCA signs MoU with UBL - Digitalising Customer Experience

ACCA signs MoU with UBL - Digitalising Customer Experience

ACCA Pakistan recently signed a MoU with United Bank Limited (UBL) for
launching an exclusive Wiz Prepaid VISA Debit Card for ACCA Pakistan
customers - the UBL Wiz-ACCA Card. Under this MoU, all ACCA Pakistan
customers will be able to pay their ACCA exams and subscription fees
online through the unique UBL Wiz-ACCA Card.

The MoU was signed from ACCA Pakistan by Mr Arif Masud Mirza, Head of
ACCA Pakistan and Mr Shamez Mukhi, Head of Marketing, Communications
and Media Relations, while the signatories from UBL included Mr Aameer
Karachiwalla, Group Executive - Retail Bank and Mr Najeeb Agrawalla,
Group Head - Marketing and Product Management.

Speaking at the occasion, Mr Mirza said, "We aim to digitalise ACCA
Pakistan's customer experience. Like every forward thinking global
organization, ACCA Pakistan aims to provide its customers with lean,
efficient and economical delivery of services. This partnership with
UBL is indeed a major milestone towards this goal."

Applauding the innovative approach of ACCA Pakistan, Mr Karachiwalla,
said his organization looks forward to taking this relationship
further. He added, "UBL has a vast network of branches and modern
transaction facilities which will be ideal for servicing the extensive
ACCA community of students and members."

Access to finance still a challenge

ACCA Russia survey reveals SME predicament


A survey conducted by ACCA Russia and Finansoviy Director [Finance Director] magazine has revealed that access to finance for small and medium-sized enterprises (SMEs) in Russia continues to be as difficult as it was two years ago.
The research was carried out following claims made by Russia's financial authorities in the second half of 2009 that the prospects for obtaining loans had improved significantly since the wake of the financial crisis in 2008.
A total of 130 ACCA members, students or ACCA DipIFR qualification holders employed as either financial directors or specialists - 44% at firms with annual revenues below RUR500m - were polled.
The survey findings revealed:
Most SMEs (55% of respondents) badly needed credits for their working capital replenishment and 25% were seeking loans to cover their short-term cash deficiency.
Compared to 2008, all companies encountered more difficulty in obtaining working capital loans, investment credits or overdrafts. Larger companies, however, found their situation had improved.
A total of 57% of respondents from SMEs and 48% from large enterprises believe that loans in the first half of 2009 became significantly less available.
In the first six months of 2009, the volume of credits provided to SMEs in Russia fell by 36% compared to the same period in 2008. But in the third quarter of 2009, loans for SMEs had already shown a growth of 4%.
Only 36% of respondents who applied for a short-term bank loan in 2009 were able to receive financing in full.
Almost 40% of SME respondents and 52% of respondents from large companies (over RUR500m annual revenue) believe that credits in 2010 will become more widely available.
Commenting on the findings, Dmitry Kouznetsov, ACCA Russia information specialist, said: 'The results of the survey show that SMEs in Russia are in a disadvantageous position compared to large companies when it comes to bank loans.
'Through this research, ACCA Russia has tried to highlight the problems facing SMEs in Russia, which we hope will contribute to a greater accessibility of finance.'