First CIMA president from Africa

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Send your contributions to: The Editor, The Bottom Line PO BOX 745, Northlands, 2116 • E: editor@cimaglobal.com • T: 011 788 8723 • F: 011 788 8724Design by Design Bandits • M: 083 460 3633 • Published by BusinessBrief Publishing • T: 011 788 0880

For the first time in CIMA history, we have a CIMA President elected from Africa. Malcolm Furber FCMA, CGMA was inaugurated as CIMA Global President at the Annual General Meeting on 15 June in London, United Kingdom.

Malcolm relocated to South Africa in 1980 to work for ICI and later Afrox in a number of senior positions in finance, IT and

corporate planning. He believes that the best management accountant should know how the entire company operates, from the bottom to the top. Malcolm says: “For management accountants to be successful, it’s about having confidence in what you do and say. You can’t create that confidence by sitting behind a desk.

“When you know how the organisation operates you are in a better position to provide useful insight.”

Malcolm has been a member of CIMA’s council for 15 years. He was involved in CIMA’s last four qualification and ethical code reviews and was previously Chairman of CIMA’s Lifelong Learning Policy Committee.

In 2004 with a move into consulting he was able to spend more time on CIMA activities, and began regularly speaking on behalf of CIMA on topics such as supply chain management, activity based costing, integrated business planning and performance management.

Our new president oozes passion and drive, and he is particularly passionate about CPD, Africa and skills development. He will be visiting various African countries during his term of office including South Africa, Zambia, Malawi, Zimbabwe and Kenya.

In addition to Furber’s appointment, Keith Luck FCMA, CGMA has been elected Deputy President, and Myriam Madden FCMA, CGMA has been appointed as Vice President.

The first Southern Africa CIMA Centre of Excellence (COE) was launched at the welcome dinner of the South African Accounting Association’s international biennial conference on 26 June.

The objective of the CIMA COE is to establish a mechanism to support and grow newly applied research relating to management accounting in Southern Africa to satisfy industry needs.

This will position CIMA as the expert in the field of management accounting, both regionally and globally.

Says Caretha Laubscher, CIMA Education Manager: “This event proves that once again CIMA is leading the way in research and relevance. We are ahead of our competition and will continue to improve and advance CIMA as a brand.”

Applications for research grants are welcomed from researchers in any Southern African country. For more information on how to apply, please contact Caretha Laubscher, CIMA Education Manager on +27 (0) 11 788 8723 or Caretha.Laubscher@cimaglobal.com

Growing research opportunities

Caretha Laubscher CIMA Education Manager

The CIMA Courses offered by the University of Johannesburg are aimed at students who require tuition before writing the Diploma and/or Advanced Diploma in Management Accounting with CIMA in May and November.Diploma in management accounting

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Zambia and Ghana recently held their CIMA Global Business Challenge (GBC) finals. The competition, in partnership with Barclays and Absa, is designed to bring out the best in future business leaders. Its success has made it one of CIMA’s annual flagship events.

Well done to Excelsior Consulting from the University of Zambia (top right). The national final took place on 28 June at the Taj Pamodzi Hotel, Lusaka.

Congratulations to team REMY from the University of Cape Coast (bottom right) who won the Ghana national final, which was hosted at the British Council, Accra on 14 June.

Both teams will be heading to South Africa at the end of August, to compete in the global final which takes place at the Maslow Hotel, Sandton from 26 to 30 August.

Shaun Matthews, IBTC student

I have passed all my CIMA subjects first time,including all my strategic level subjectson my first attempt

Struggling to pass? How about passing first time?Shaun has passed every subject from certificate level to strategic level first time with IBTC. And he recently wrote his T4 exam. Good luck Shaun!

Read more online www.ibtc.co.zaPROFESSIONAL BUSINESS EDUCATION

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Tax practitioner’s registration

GBC supports the protection of rhino

CIMA has officially been recognised as a controlling body for tax practitioners by SARS. Says Zahra Cassim, CIMA Head of South Africa: “This is positive news for our members and students since they need not register with any other controlling body in order to continue to offer tax services and advice.”

Contact SARS directly for more information on 0800 00 7277 or visit www.sars.gov.za

In an effort to increase awareness of the threat to rhinos worldwide, the CIMA Global Business Challenge competition has donated R18000.00 to Save the Rhino International. The non-profit organisation works to conserve viable populations of critically endangered rhinos in both Africa and Asia. The events around the GBC global final are themed to communicate conservation and sustainability. The hope is that participants return to their home countries, and share the message of the importance of protecting rhinos for future generations. If you would like to get involved in this initiative, please visit www.savetherhino.org

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Two more African teams set to compete in GBC

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Top students congratulations

BotswanaE1 Enterprise OperationsBaoagile MotswagaeE2 Enterprise ManagementArqam ZahirE3 Enterprise StrategyTebogo MathodiKabelo RamadubuF1 Financial OperationsElton MawisireF2 Financial ManagementArqam ZahirF3 Financial StrategyBugalo MolapisiKabelo RamadubuP1 Performance OperationsThabiso MabakaP2 Performance ManagementTsaone MadibanaP3 Performance StrategyObakeng MoatlhodiT4 Part B Case Study ExaminationNyasha GomweA1 Professional Gateway Kenneth Thindwa M1 Masters GatewaySadia Ridita

GhanaE1 Enterprise OperationsAbdul MansuluE2 Enterprise ManagementDorothy AsareE3 Enterprise StrategySanjay VermaF1 Financial OperationsSelasie AkwensivieF2 Financial ManagementDerek Walt-Collins

F3 Financial StrategyAlmoustapha DjikaP1 Performance OperationsAbdul Mansulu P2 Performance ManagementAbraham OkineDorothy AsareFirdaws SayibuGeorge BrewP3 Performance StrategyBenjamin OpareT4 Part B Case Study ExaminationPrince AffulA1 Professional GatewayPhalguni PattanayakM1 Masters GatewayVincent Agyeman

South AfricaE1 Enterprise OperationsInge SteynE2 Enterprise ManagementHester Niemand Friedrich Weber E3 Enterprise StrategyMorgan OttenLaura-anne LinesF1 Financial OperationsStacey WagenheimF2 Financial ManagementLauren DowlingF3 Financial StrategyRichard KnightLeana du ToitP1 Performance OperationsAlana FourieP2 Performance ManagementPhilip GerberRonald Van Hoven

P3 Performance StrategySteven HanauerWillem Van der MerweT4 Part B Case Study ExaminationDeshni NaidooKelly ParkhurstKurt MullerLindi RademeyerNatalie AnsleyShaun MatthewsFahmeeda JogeeLoma BellM1 Masters Gateway Paul HobdenA1 Professional GatewayMichele Acquisto

ZambiaE1 Enterprise OperationsChilumba MuleyaE2 Enterprise ManagementMusonda KundaE3 Enterprise StrategyLukonde KapambweF1 Financial OperationsKennedy SimbotweMwenya MusondaF2 Financial ManagementChipo SinywibululaF3 Financial StrategyMathews SikanyikaEnsten MayeyaP1 Performance OperationsKennedy SimbotweAman MohanSumedha VashistP2 Performance ManagementChipo SinywibululaPatrick MukambaP3 Performance StrategyTowela Ngoma

T4 Part B Case Study ExaminationMadi SawelaChristopher Kalimukwa MweloA1 Professional Gateway Mukenani MukelabaiSweedy TemboM1 Masters GatewayLawrence Banda

ZimbabweE1 Enterprise OperationsMajory NyazemaTendai RubabaE2 Enterprise ManagementTonderai MutseyekwaE3 Enterprise StrategyKandandambi RunganoF1 Financial OperationsTafadzwa ChinyokaF2 Financial ManagementWilliam MapakameF3 Financial StrategyDouglas TimothyP1 Performance OperationsCharles ChikwareP2 Performance ManagementStanford WurayayiP3 Performance StrategyAnyway MadzivadondoT4 Part B Case Study ExaminationMoses MuringamiPhillip ChirongweTendai NyakurimwaA1 Professional GatewayTichaona MudokwenyuM1 Masters Gateway Onias Mapani

The following students achieved the highest mark in their respective countries for March and May 2013 exams

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Ethical leadership think tank in association with CIMA

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Letebele Mphahlele has been appointed as the Accountant for CIMA South Africa, and will be responsible for managing accounting processes for South Africa. She will report to Brigitte Holtz, Regional Finance Operations Manager. Her previous position was at JD Group as an accounting assistant. Letebele has a B.Com Finance which she completed at the University of

Johannesburg in 2011 and is currently undertaking her Honours in Financial Management.

On the move

Kenneth Mabote ACMA, CGMA has recently been appointed as the CIMA Botswana Country Manager. His responsibility will include driving long term country strategy and he will report to Samantha Louis, Regional Director. He joins CIMA from Task Master where he was a Business Consultant. His qualifications include: B.Com degree in Accounting from Botswana University, Masters in Business Administration (MBA)

from the University of Derby (United Kingdom) and Integrating Strategy, Budgeting and Reporting courses at the University of Witswatersrand Business School in South Africa. CIMA Africa welcomes Kenneth to its regional management team.

www.cgma.org

Dates to diariseZambian national accounting conferenceThe accountancy professions in Zambia which include CIMA, the Association of Chartered Certified Accountants (ACCA) and the Zambia Institute of Chartered Accountants (ZICA) will jointly host their annual business conference from 14 to 16 August. The conference will take place in Livingstone at the Zambezi Sun Hotel.

The theme of the conference will be: wealth creation and entrepreneurship. Says Kennedy Msusa, Chairperson, Conference Organising Committee: “We are all in one way or another affected by developments in our financial markets. It is important to understand how wealth is created, spent and invested in order to grow local economies. Malcolm Furber, CIMA President, will discuss long term business success for finance professionals. It will be interesting to hear his view on the market as he has extensive experience in Africa.”

Cost: Registration with accommodation K7,880 per person and without accommodation K4,780 per person. For booking enquiries and to register email Lusaka@cimaglobal.com

CIMA members and students have an important role to play in influencing ethical practices and long term business success.

This event hosted by Performance Hub in association with CIMA, will take place on 19 August at The Winston Hotel, Johannesburg from 4.30 to 6.00pm. Tanya Barman, CIMA Head of Ethics, will present global findings from CIMA

research and CGMA reports. The event is aimed at all those involved in performance management within organisations in private, public and non-profit sectors and CIMA members and students.

For further information and to register please contact Juliana Sachse on 011 475 1450 or juliana@theperformancehub.co.za before 12 August and quote “CIMA guest”.

The Botswana branch will be hosting its annual dinner dance on Friday 23 August. The invitation is open to all members and students. Ticket prices are BWP 550.00 per person. There is also an opportunity for companies to sponsor a table at the event for P5500.00, and in return will be acknowledged and be given branding opportunities.

For more information please contact +267 395 2362 or +267 395 2366.

Annual dinner danceAre we able to contact you?

All members and students have a MyCIMA account and it is where your personal information is recorded. If for any reason you think you may not be receiving all our communications, please log-in and update your personal and employer contact details.

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CGMA imperial sponsor for WCOA 2014CGMA is the top sponsor of the World Congress of Accountants (WCOA). Held every four years, WCOA is amongst the most prestigious events in the accounting profession’s calendar and attracts more than 5,000 global delegates each time it meets. WCOA 2014 will take place from 10 to 13 November in Rome’s Auditorium Parco della Musica.

Sponsoring this event affords CIMA and the AICPA, the opportunity to showcase the unique perspective that CGMA designation holders bring to business.The overall theme of WCOA 2014 is “Learning from the past, building the future”. The discussions will explore the pivotal role of accounting amid rapid economic, political and social change.

CIMA intends to put together special package offers for delegates from its main markets. Should you be interested, register your interest at eventssa@cimaglobal.com

CIMA mini business gameCIMA held a mini business game in Durban on 18 June for Unilever employees. Over 130 finance professionals from across South Africa took part in the Unilever career and learning week, which took place in over eight countries around the world. Says Brett Clark, Finance Director, Unilever: “The business game proved to be useful as it emulated our daily operations and provided useful insight.”

Re-ignition conference in Zimbabwe

Caribbea Bay Hotel will host this three day conference from 27 to 29 September. There are local and international speakers lined up including Malcolm Furber, CIMA President. The theme of the conference will be: “Re-ignition”. This event aims to provide continuous professional development (CPD) for CIMA Zimbabwe members as well as providing a networking forum for attendees. For more information and to book your place please contact Harare@cimaglobal.com

Events round upBusiness leadershipThe Zimbabwe branch held a CPD workshop on 13 June, at the Bronte Hotel, Harare. “This was a very interactive and enlightening workshop aimed at improving management and leadership skills. Feedback from attendees was highly positive” says Moses Sikwila, Country Manager, Zimbabwe.

Chawada Machacha-Kebonang, Clearlit Managing Director

From left: Bret Clark Unilever Finance Director, Veronica Unilever Finance team, Zahra Cassim CIMA Head of South Africa, Badi Promesse CIMA Strategic Account Director: Global Corporate Relations.

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CIMA hosts University Forums to enhance relationships with academia around the country and to ensure that there is a sound understanding of the CIMA syllabus. The forum was held on 25 June to coincide with the SAAA conference. The main focus this year was discussions around the syllabus review process, which will see the launch of the CIMA 2015 syllabus in early 2014.

University ForumCareer profile workshopThe career workshop took place on 26 June at the Bronte Hotel, Harare. The workshop was conducted by Moses Sikwila, Zimbabwe Country Manager and he took students through the process of applying for membership and what relevant work experience is needed.

Are you acting ethically?The KZN Branch hosted an event on ethics on 27 June at the Riverside Hotel in Durban. Says Taher Jhavary, Branch Chairman: “The event was well attended; we received great feedback from members and students. Guest speaker Cynthia Schoeman is an expert on ethics and was well received and managed to engage and excite the audience.”

The Malawi branch held its annual general meeting on Friday 5 July at Sunbird Capital Hotel in Lilongwe. At this event, Charles Ulaya was elected Branch Chairman. In addition, Tiya Somba Banda has been elected Vice Chairman.

Malawi AGM

CIMA Zimbabwe hosted this workshop on 18 July at Rainbow Towers, Harare. This event was well attended by over 46 delegates and provided useful insight into the new income tax bill, which seeks to repeal and replace the income tax act. The tax bill is awaiting presidential assent to be passed into law.

New income tax bill workshop

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Embedding corporate social responsibility in management systemsCompanies worldwide have been investing in CSR programmes to improve their relationships with society and the environment. According to a 2009 survey conducted on Fortune 500 firms, CSR is becoming a prominent and accepted part of the corporate strategy. However, there is little understanding of how different management control systems (MCS) can be adopted to operationalise strategic initiatives related to CSR.

The resulting lack of effective coordination and control of CSR programmes can diffuse a company’s impact on society, resulting in unrelated efforts and precluding a range of social benefits. Against this backdrop, recent research from CIMA examines the way in which companies can embed CSR in their MCS to align the behaviour of the organisation with its strategic objectives concerning sustainability.

Combining Responsive CSR and Strategic CSRA company’s social responsibility programme must first be

responsive to its stakeholders’ requirements, but it should also move beyond just meeting societal expectations by further incorporating CSR activities that reinforce its strategies and leverage its capabilities to improve competitive advantage. This combination of Responsive and Strategic CSR helps the company to not only operate as a good corporate citizen, but also directs resources and managerial attention to initiate and operationalise CSR that is consistent with its strategy.

Responsive CSR depends on being a good corporate citizen and addressing the social risks that a business faces, Strategic CSR is more selective and dynamic. Selecting appropriate Strategic CSR initiatives entails a thorough understanding of the company’s competitive position and an examination of its capacities to benefit society.

The full report is available on www.cimaglobal.com