HONG KONG HONG KONG PAST EVENTS Career & Education Exhibition at Lingnan University Introduction to Professional Development Talk for HKU SPACE Students Joint CPD Seminar with HKICPA on Management Accounting Business Strategy by Mr M.H.M. Faizer CIMA Revision Courses for Nov 08 Exam Report Leadership Media Luncheon with PriceWaterHouseCoopers at China Club (see enclosed article) Introduction to Professional Development Talk for HKU SPACE Students Student & Member Networking Event: Seminar on Report Leadership - tomorrow s reporting today by Mr Robert Jelly Report Leadership Breakfast Industry Briefing at PriceWaterHouseCoopers Joint CPD seminar with HKICPA on Corporate Reporting in the Future (Report Leadership) by Mr Robert Jelly CFO Asia Interview on Report Leadership with Mr Robert Jelly HKICPA China Series Seminars 內 地 政 府 組 織 架 構 營 商 環 境 和 須 注 意 事 項 CIMA as Supporting Organisation for Innovative Entrepreneur of the Year 2008 Opening Ceremony (see enclosed article) Career Talk for SBI Consultation Group Meeting on Companies Ordinance Rewrite 2 CIMA Annual Dinner (see enclosed article) HKICPA China Series Seminars 內 地 稅 務 政 策 與 法 規 的 最 新 發 展 HKICPA China Series Seminars 內 地 會 計 準 則 的 最 新 發 展 和 施 行 情 況 2 April 8 April 10 April Mid April 15 April 15 April 16 April 17April 17 April 18 April 19 April 3 May 7 May 15 May 16 May 17 May 24 May CIMA HONG KONG JUNE 2008
HONG KONG PAST EVENTS Report Leadership Media Luncheon with PwC 15 April 2008 Report Leadership is a multi-stakeholder group that aims to challenge established thinking on corporate reporting. We felt that corporate reporting should be more accessible and informative. The aim was to develop simple, practical, yet effective, ways to improve narrative and financial reporting. Members of the Report Leadership group felt that many management teams spend significant time aggregating and recalculating data from internal sources to construct the information demanded by regulatory reporting. Analysts and investors then spend time deconstructing that information so that they can see the building blocks. The process is wasteful and ineffective. And quite often leads to companies losing sight of the reason for doing this in the first place: communication. A media luncheon was held on 15 April at China Club for the launch of Report Leadership, 20 media were being invited. The event started with the welcome remarks by Mr Peter Choy, Divisional Immediate Past President of CIMA Hong Kong, followed by the presentation on Report Leadership by Mr Robert Jelly, Director of Education, CIMA, and Mr David Philips, Senior Assurance Partner, PwC. Mr Patrick Yeung was the guest spokesperson of CIMA, he took part in the panel discussion and was invited to comment and share his perspectives on current industry practices of narrative reporting and the role that Report Leadership could have in the Hong Kong context. Media were invited to raise questions during the panel discussion and lunch. Pictured above: Presentation on Report Leadership by Mr Robert Jelly, Director of Education, CIMA. Pictured L-R: Mr Patrick Yeung, guest spokesperson of CIMA, Mr Robert Jelly, Director of Education, CIMA, and Mr David Philips, Senior Assurance Partner, PwC, were having a panel discussion. For details, please visit: http://www.reportleadership.com Opening Ceremony of the Innovative Entrepreneur of the Year 2008-3 May 2008 Organised by the City Junior Chamber, the Innovative Entrepreneur project is supported by CIMA, government bodies and professional bodies to acknowledge the successful entrepreneurs on their achievements and contribution to the society. Nominees of the awards will be selected based on factors such as creativity, uniqueness, risk management, financial management, marketing strategy and management approach. Our Divisional President Mr Michael Chan was invited as one of the five judges for the project of Year 2008. An opening ceremony was held on 3 May to announce the commencement of the project. Nomination process began from then until mid June and a judging interview will be carried out in early July. The award presentation ceremony will be conducted in mid August Photos or other details could be viewed via the website below: http://ie2008.cjc.org.hk/?q=news/gallery
HONG KONG PAST EVENTS CIMA Annual Dinner - 16 May 2008 The CIMA annual dinner held in the Banker s Club on 16 May 2008 with near 100 guests, members and students attended. The event commenced with the welcome speeches by Mr Michael Chan, Divisional President of CIMA Hong Kong, and the Guest of Honour, Mr Benjamin Tang, Director ofaudit Commission of Hong Kong SAR. These followed by a toasting session of CIMA Hong Kong Divisional Council Members, and a photo shooting session of the Divisional Past Presidents of CIMA Hong Kong. We were very delighted to have Hon. Mandy Tam Heung-man, Legislative Councillor (Accountancy) and Mr Norman Lyle, Past President of CIMA Council, to join us that night. Pictured L-R: Mr Michael Chan, Divisional President of CIMA Hong Kong, Mr Benjamin Tang, Director of Audit Commission of Hong Kong SAR, Mr Fung Chu Shun, the winner of the lucky draw grand prize. Throughout the dinner there were several gaming sessions and it was concluded by a lucky prizes draw session. The event was very successfully attracting many new faces to participate in this event for the first time. Congratulations to Mr. Fung Chu Shun to winning the grand prize of a digital camera worth HK$2,800 and all the other recipients of either the prizes or souvenirs at the end of the night. Special thanks were dedicated to the sponsorship from over 10 companies and associations. Please click here to view the photos of the night Pictured L-R (Divisional Past Presidents of CIMA Hong Kong): Mr Alan Wong, Mr Albert Law, Mr Jimmy Pun, Mr Kenneth Chan, Mr Michael Chan, Mr Norman Lyle, Mr Joseph Lai, Mr P M Kam, Mr Peter Wong, Mr Paul Yeung, Mr Teddy Iu
DIVISIONAL ENGAGEMENTS EVENTS REPRESENTED BY DATE Inauguration Ceremony of Student Society of Accounting, Staff 3 April Open University of Hong Kong Hong Kong University of Science & Technology Confluence Dinner Staff 8 April Dinner Buffet with Tsing Yi IVE Students Staff 10 April AIA Annual Dinner at Hong Kong Bankers Club AR 11 April Inauguration Ceremony of The Hong Kong Federation of Business, Staff 11 April University of Hong Kong Inauguration Ceremony of Management of Organizations Students' Staff 12 Apri Association, Hong Kong University Science and Technology Lingnan University Award Presentation Ceremony Staff 14 April SME Mentorship Programme Cocktail Reception Group leader of China Services Group 17 April The Society of Chinese Accountants & Auditors Annual Dinner at DP & IPP 17 April InterContinental Hotel Hong Kong Baptist University Scholarship Presentation Ceremony DP, Staff 18 Apri and Donors' Tea Reception IAM Annual Dinner IPP 18 April Islamic & Banking Forum at Hong Kong Polytechnic University Staff 19 May CPA Australia Hong Kong New Office Launch Cocktail Reception Staff 21 May Inauguration Ceremony of the Society of Accountancy, Hong Kong Staff 28 May Baptist University PAC Alumni Dinner 2008 of the School of Accountancy, The Chinese Staff 31 May University of Hong Kong at Renaissance Kowloon Hotel P = Divisional President, DP = Divisional Deputy President, VP = Divisional Vice President, IPP = Divisional Immediate Past President, AR = Area Representative on CIMA Council, CM = other Divisional Council Members
NEWS Announcement from Inland Revenue Department, HKSAR Tax returns for individuals have been issued on 2 May 2008. You are cordially invited to file tax return through etax to enjoy automatic extension for filing, pre-filling of data and estimation of Salaries Tax payable. For further information, please click here. A Winning Performance CIMA Financial Management Awards 2008 How would you describe your performance at work last year? Or that of your team or employer? If you think recognition is deserved then enter the CIMA Financial Management Awards 2008 and you or your colleagues could be collecting an award. The CIMA Financial Management Awards are held annually to acknowledge business professionals, innovators, employers, tutors and consultants who have delivered winning performances in 2007. 11 categories recognise the dedication and determination of those who understand the importance of our profession and use the principles of management accountancy to drive it forward. * TOPCIMA Success Award * Tutor of the Year * Part Qualified of the Year * Finance Team of the Year Public Sector * Finance Team of the Year - Private Sector * Recruitment Consultancy of the Year * Corporate Social Responsibility Award * Innovation in Management Accountancy * Small to Medium-sized Employer of the Year (typically under 10,000 employees) * Large Employer of the Year (typically over 10,000 employees) * Outstanding Contribution to Business Performance by a CIMA member Benefits of winning a CIMA Financial Management Award: * recognition * increased profile * positive promotional opportunities * grow business * attract employees * positive media The deadline for entries is 18 July 2008, please visit www.cimaglobal.com/awards for more details.
NEWS Memorandum of Understanding with CICPA 17 April 2008 CIMA has signed a memorandum of understanding with the CICPA, the sole professional accountancy body in mainland China. This agreement will strengthen a long-term strategic partnership and promote the development of the accountancy profession in China. Under the agreement, the two organisations will cooperate on training and professional development activities. They will also explore possible means for mutual recognition of credentials and exemptions. CIMA and CICPA continue to support their members in education, training, technical exchanges, joint conferences and professional development schemes that contribute significantly to the acquisition of high standards of professional values, Pictured above: Representatives from CIMA and CICPA signing the Memorandum of Understanding ethics and skills. The strength of such alliance strategies is to support the People's Republic of China s continuing efforts to align accounting practices with the needs of business and best international practice. CIMA Member Survey 2008 The CIMA Members Survey 2008 is being launched and sent to all members on Friday, 6 June. After a couple of months in its design and consultation stage, we have established yet another comprehensive high profile survey to identify the value of CIMA membership, degree of satisfaction and use of our services to support members professional career developments. Further details of key sections within the survey are: * Overall assessment of CIMA * Value of membership * Member services and benefits * CIMA publications * Contact with CIMA offices * Ethics, professional standards and conduct * CIMA website We really appreciate if you could participate in this project, your comments would be highly valuable to us! Thank you!
Survey NEWS ACMAs earn more than ACCAs: CIMA members are being paid up to 20% more! The shortage of accountants in the commercial market - particularly at newly qualified level - continued in 2007, according to a UK salary survey by recruitment firm Robert Walters. With demand for accountants outstripping supply, accountants salaries continued to increase while employers struggled with retention under competitive market conditions. Robert Walters said that companies are now expected to focus on consolidating their talent pools rather than increasing head count. ACMAs doing well The survey compared pay between newly qualified ACMAs, ACAs and ACCAs in London. The good news for London based newly qualified CIMA professionals is that their salary ranges were equal to that of ACAs and almost always higher than that of newly qualified ACCAs. This was evident in commerce and the professional services industries in London where both newly qualified ACMAs and ACAs earned on average between 45,000 and 55,000. London based newly qualified ACCAs in that sector earned between 40,000 and 50,000 in commerce and between 42,000 and 48,000 in professional services. Good News to CIMA Students Ask a tutor We are honoured to have Ms Margarret Fidow to assist you in your study! Questions on Paper1, 2, 4 and 5 of the CIMA professional qualification are welcome. Please contact Margarret at margarret.fidow@cityu.edu.hk
STUDENT SERVICES Study Resources & Revision Courses for the CIMA Students At different stages of your study, there are different resources available to assist you. These range from face-to-face revision course to interactive on-line programs. You should select the resources most suited to your style of studying, the purpose and the study stage that you are at. Please download the study resources brochure from here for more details. Exam Information 2008 Exam Results Results from the May exams will be sent out on 17 July for strategic level and TOPCIMA and 24 July for managerial level. Please check your 'MYCIMA' account to make sure you have registered to receive your results by email. Attendance Slip Receipts After each exam sitting it is advisable to keep your attendance slip receipt for each paper sat for at least four months following the exam. November 2008 Exam Dates 18 November (Tuesday) 19 November (Wednesday) 20 November (Thursday) Key Dates 17 July CIMA will release strategic and TOPCIMA exam results by email for those students who have registered to receive results by email. 24 July CIMA will release managerial level exam results by email for those students who have registered to receive results by email. 17/24 July Exam results will be sent by post. First week in August Exam entry for Nov 2008 opens. Please check www.cimaglobal.com nearer the time for exact date. 1 September Last date students may sit CBA if aiming to complete certificate level in order to enter an exam at managerial level in Nov 2008 sitting. All outstanding fees including all exam fees and other payment due must have been received by CIMA. 14 September Deadline for exam entry at standard fee level for Nov 2008 exams. 15-21 September CIMA online exam entry remains open. However, payment must be made online and a late entry fee applies. 22 September CIMA online exam entry is closed. 8
UPCOMING EVENTS Building a Vibrant Islamic Finance Market in Hong Kong Organiser: Date: Time: Fee: Keynote speaker: Registration: British Consulate-General, UK Trade & Investment and City of London 7 July 2008 (Mon) 2.00-5.30 p.m. 7/F, Conrad Hotel, Pacific Place, Hong Kong Gratis (subject to early reservation) The Lord Mayor of the City of London (along with a panel of prominent speakers) Download form and details from here Members & Students Networking Event The Date: Time: Fee: Speaker: Registration: 7 July 2008 (Mon) 6:30pm cocktail reception, 7:30pm seminar (1-hr CPD) 4/F, Sunning Plaza, 10 Hysan Avenue, Causeway Bay, Hong Kong Gratis Mr Edward Tew, Learning & Development Specialist, CIMA Download form from here Joint CPD Seminar on Strategic Management Accountancy Tools & Techniques with HKICPA Date: Time: Fee: Speaker: Registration: 8 July 2008 (Tue) 6:30pm 8:00pm HKICPA $190 for member, $180 for online enrolment, $330 for non-member Mr Edward Tew, Learning & Development Specialist, CIMA Download form from here and register with HKICPA Joint CIMA and CMA Monthly Networking Lunch CIMA Hong Kong Division and CMA Canada (Hong Kong Branch) have jointly organised a casual monthly networking lunch. The next networking lunch will be held on 9 July 2008 (Wed) for members and students of CIMA and CMA Canada. This is a chance to catch up with old friends and meet new ones, so help us make this event enjoyable and bring your friends along, too! Date: Time: Fee: 9 July 2008 (Wed) 1:00 pm 12/F The Chinese Club, 21 to 22 Connaught Road Central, Hong Kong Chinese lunch at HK$100 per person. Please settle your own bill. A table is reserved under Mr Yau Yin Kwan, Joseph ( 邱 賢 君 先 生 ) of CMA Canada. If you are interested to join us, please email to jovy.yeung@cimaglobal.com.
UPCOMING EVENTS Business Valuation & Transaction Pricing in M & A A distinctive training course which combines both international case studies and local practices sharing on valuation and pricing in M&A. The course is customised to address your needs in overcoming challenges faced in performing effective business valuations in China. The course will be facilitated by John Simpson, Co-founder & President of Onyx Associates. The event is also featuring special presenter - Joerg Ayrle, Managing Director in M&A Asia Pacific from Siemens Corporation Finance. Joerg will discuss the differences between local and international M&A. With a total of 9 sessions, the 2-day course is addressing topics ranging about different valuation methodologies and approaches to tips to carry out successful valuations in China. CIMA China is the supporting organization for the above event and CIMA members will receive 15% discount on the standard Registration Price. Please indicate CIMA on the registration form. Date: City: Registration and enquiries: 7-8 July 2008 (Monday & Tuesday) Shanghai Renaissance Pudong please email to eventchina@cimaglobal.com Please click here for the above details in Chinese or here for the English version. The 3rd Annual Conference Strategic Mergers & Acquisitions The 3rd annual Conference on Strategic Merger & Acquisition provides a great platform for industry players to meet, learn and share valuable experience face-to face in one meeting room. It features experience and understanding of China M & A and partner strategy market, focusing on top-concerned issued of post merger integration phase covering M & A system establishment, post merger integration strategy establishment, M & A objectives fulfilling, change management, communication strategy, cross-boarder integration, culture integration, people factor and so on. CIMA China is the supporting organization for the above event and CIMA members will receive 15% discount on the standard Registration Price. Please indicate CIMA on the registration form. Date: City: Registration and enquiries: 8-9 July 2008 (Tuesday & Wednesday) Shanghai JW Marriott Hongqiao Hotel please email to eventchina@cimaglobal.com Please click here for the above details in Chinese or here for the English version. CONTACT US CIMA Hong Kong Division Suites 1414-1415 14/F Jardine House Central Hong Kong T. +852 2511 2003 F. +852 2507 4701 E. hongkong@cimaglobal.com www.cimahongkong.com Opening Hours 9:30am-5:30pm (Mon-Wed, Fri) 9:30am-7:00pm (Thur) 10